Industry News

bolttech, a Singapore-based insurtech company, has unveiled its new AI-driven customer service solutions at the AWS Summit Singapore 2025. The initiative, known as the “bolttech GenAI Factory,” is built on Amazon Bedrock and aims to enhance operational efficiency and customer experiences whilst reducing costs. By leveraging AWS’s infrastructure, bolttech plans to improve prediction, prevention, and recovery in its insurance offerings.

The company’s AI solutions will enhance risk assessment, offer personalised insurance products, and implement early warning systems for potential threats. Additionally, AI-powered chatbots and virtual assistants will expedite claims processing, providing instant support to policyholders.

The summit also highlighted other significant collaborations. The National Institute of Education (NIE) and AWS have signed a three-year Memorandum of Understanding to launch the Technology for Education Centre, aiming to drive digital transformation in education. This partnership will empower educators and students to innovate and address real-world issues using cloud computing and AI.

SaladStop!, a Singapore-based restaurant chain, has also embraced AI by developing a Gen AI assistant for personalised nutrition recommendations. Supported by the Infocomm Media Development Authority’s GenAI x Digital Leaders Initiative, this move is expected to enhance customer retention and potentially double online orders.

Razer, a global lifestyle brand for gamers, announced its upcoming AI-powered Game Assistant and Quality Assurance Companion, designed to revolutionise game development using AWS’s cloud infrastructure.

These initiatives underscore AWS’s commitment to advancing AI adoption in Singapore, with plans to train 5,000 individuals annually in AI skills from 2024 to 2026. The AWS AI Spring Singapore programme continues to support businesses and nurture local talent, fostering a robust AI ecosystem in the region.
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Singlife, a leading financial services company in Singapore, has launched a pioneering travel insurance benefit that provides a payout for injuries caused by flight turbulence. This new feature, available at no extra cost, offers up to $730 (S$1,000) for turbulence-related injuries both in Singapore and abroad, supplementing existing medical coverage in its travel insurance plans.

Helen Shen, Group Head of Products at Singlife, highlighted the increasing unpredictability of travel due to climate change, which has led to more frequent turbulence and disruptive weather patterns. “Singlife believes in the constant need to innovate and stay abreast of developments,” she stated, emphasising the company’s commitment to comprehensive coverage.

In addition to the turbulence injury benefit, Singlife has introduced several enhancements to its travel insurance offerings. These include an optional add-on for pre-existing medical conditions, providing coverage for overseas medical treatment and emergency evacuation. Singlife also offers exclusive rainfall protection, with payouts of up to $110 (S$150) for trips disrupted by heavy rainfall, and unlimited coverage for overseas medical claims under its Travel Prestige plan.

Singlife’s Travel Plus and Prestige plans further protect policyholders against trip cancellations for any reason, including non-refundable bookings. They also cover lost loyalty points and offer optional add-ons for specialised travel plans, such as golf holidays and overseas weddings.

These enhancements position Singlife’s travel insurance as one of the most comprehensive options available, ensuring travellers have peace of mind amidst the uncertainties of modern travel.
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The Housing & Development Board (HDB) has announced the launch of land tenders for two sites at Hougang Central and Sembawang Road under the first half of 2025 Government Land Sales programme. The Hougang site is set to offer approximately 835 residential units and 40,000 square metres of commercial space, whilst the Sembawang site will provide around 265 units. The tenders will close on 16 December 2025 and 11 September 2025, respectively.

The Hougang Central site is strategically located near the Hougang MRT Station Interchange, providing access to both the future Cross Island Line and the North East Line. This development will include commercial spaces, enhancing the area’s amenities and retail options. Justin Quek, CEO of OrangeTee & Tie, noted the site’s proximity to several primary schools, making it attractive to families. He also highlighted the pent-up demand for new homes in Hougang, given the limited supply since 2014.

In Sembawang, the Executive Condominium (EC) site is conveniently near Canberra MRT station and Canberra Plaza. The area is appealing for families, with nearby schools and recreational options such as Sembawang Hot Spring Park. Quek pointed out the low supply of ECs in the region, with only one unit remaining unsold in the recent Provence Residence project.

Both sites are expected to attract multiple bidders. For Hougang, Quek anticipates 3 to 5 bidders with a land rate of $660 to $720 (S$900 to S$980) per square foot per plot ratio (psf ppr). The Sembawang site could see 4 to 7 bidders, with a land rate of $490 to $550 (S$670 to S$750) psf ppr. These developments are poised to meet the growing demand for residential units in Singapore.
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Paragon Capital Management (PCM) has announced the appointment of Trevor Lau as Managing Director and Strategist, effective immediately. Lau, who will be based in Singapore, will report to Paul Lee, Co-founder and CEO, and Irene Ng, Chief Operations Officer of PCM. With over two decades of experience in private banking and wealth management across Asia, Lau has held senior roles at Credit Suisse, Azura Investment Partners, UBS, and Citigroup Private Bank.

Lau’s extensive background includes leading high-performing teams and delivering tailored investment solutions for ultra-high-net-worth individuals. At Azura Investment Partners, he was instrumental in establishing the Singapore office and launching the firm’s Asia platform. His role at UBS as Managing Director focused on business growth for Southeast Asia’s ultra-high-net-worth entrepreneurs.

Paul Lee expressed enthusiasm about Lau’s appointment, stating, “His extensive experience in building and leading high-performing teams, driving business growth, and delivering bespoke investment solutions for ultra-high-net-worth clients will certainly add value to our organisation and for our clients.”

Lau, a CFA charterholder since 2000, holds a Master of Science in Applied Finance from the National University of Singapore and a Bachelor of Business from Nanyang Technological University. He remarked, “PCM is a conviction-driven asset management firm with a strong track record. I am honoured to join this exceptional team.”

Paragon Capital Management, with assets under management exceeding $880 million (SGD 1.2 billion), operates in Singapore and Hong Kong, offering a diverse suite of funds across public and private markets. The firm is known for its strong investment performance and tailored strategies for accredited investors.
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CGS International has released its latest strategy note, predicting that Singapore’s market will experience growth throughout 2025. The report highlights the anticipated enhancement of market liquidity through the Enhanced Market Development Programme (EMDP) and sustained market earnings growth as key factors contributing to this positive outlook.

The strategy note suggests that investors should focus on companies demonstrating robust earnings growth, strong capital management, or value-unlocking strategies. CGS International has identified 13 companies that align with these themes, including KEP, SATS, SCI, SIE, UOL, BRC, CSE, FEH, FRKN, MPM, PAN, PROP, and QNM.

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M1 has announced the launch of its commercial 5G RedCap network services for enterprise customers, marking a significant milestone in the region’s telecommunications landscape. This deployment, part of M1’s next-generation 5G-Advanced Network, is the first known launch of RedCap services for enterprises in Southeast Asia, offering enhanced connectivity solutions.

5G RedCap technology bridges the gap between legacy Internet of Things (IoT) technologies and full 5G deployments. It provides higher reliability, lower latency, extended battery life, reduced costs, improved coverage, and enhanced security features, all crucial for enterprise applications. This addition strengthens M1’s existing suite of advanced 5G capabilities, which includes Network Slicing, Speed Priority, VIP Access, and Carrier Aggregation.

Andrew Cheng, M1’s Chief of Enterprise Services, stated, “M1 is establishing the benchmark for business connectivity solutions in the region. By being the first in Southeast Asia to offer 5G RedCap network services in the enterprise space, we are enabling our business customers to gain competitive advantages through more efficient, reliable, and scalable connected solutions.”

The new solution leverages Nokia’s 5G RedCap technology, which supports the expansion of the 5G ecosystem with new industrial IoT devices and low-power wearables. This allows operators to deliver a wider range of services to more devices, accelerating IoT deployment across various industries. Jae Won, Senior Vice President at Nokia, commented, “The introduction of 5G RedCap will unlock new opportunities for many industries, with potentially billions of new devices connected with 5G.”

M1 has also partnered with Ransnet, a local device manufacturer, to ensure the compatibility and availability of RedCap-compatible devices for enterprise customers in Singapore. This collaboration aims to accelerate the development and deployment of these devices, further enhancing M1’s enterprise solutions portfolio.
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Singapore has announced significant insights from the world’s first technical testing of real-world Generative AI (GenAI) applications, as revealed at the ATxSummit 2025. The Global AI Assurance Pilot, launched in February 2025 by the AI Verify Foundation (AIVF) and the Infocomm Media Development Authority (IMDA), paired 16 specialist AI testers with 17 GenAI deployers across 10 industries, including finance and healthcare.

The initiative aims to establish emerging norms and best practices for GenAI applications, addressing the unique risks associated with different industries and use cases. “Gen AI risks are often context-dependent,” noted the pilot’s findings, emphasising the need for subject matter experts throughout the application lifecycle.

In addition to the pilot, Singapore introduced the world’s first Testing Starter Kit for GenAI applications. This kit offers practical guidance for businesses developing or using GenAI, focusing on risks such as hallucination and data disclosure. The kit is designed to evolve alongside technological advancements, supported by tools like Project Moonshot.

These efforts underscore Singapore’s commitment to fostering a trusted AI ecosystem. By advancing AI science and providing practical testing tools, Singapore aims to catalyse innovation and ensure responsible AI deployment. The initiatives also highlight Singapore’s role in shaping global AI norms and promoting international cooperation.

Looking ahead, Singapore continues to champion AI for public good, with AI Singapore partnering with the UN Development Programme to enhance AI literacy in developing countries. This collaboration extends the successful AI for Good programme to a global scale, aiming to transform communities and bridge the AI literacy divide.
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The leasing volume of private residential properties in Singapore increased by 4.8% quarter-on-quarter in Q1 2025, driven entirely by the non-landed segment, according to Savills Research. This growth comes despite a slowdown in the country’s economic growth and employment gains. The non-landed segment saw a 5.2% rise, whilst the landed segment experienced a 1.8% decline.

The Rest of Central Region (RCR) led the quarterly growth with a 7.1% increase, followed by the Core Central Region (CCR) at 6.3% and the Outside Central Region (OCR) at 2.3%. Year-on-year, the residential leasing volume rose by 3.7%, reversing declines from 2022 to 2024. This increase was supported by new completions and more reasonable rents, particularly in the CCR and RCR.

Among the top non-landed projects by leasing volume were Normanton Park, One Pearl Bank, D’Leedon, Parc Esta, and Marina One Residences. One Pearl Bank, completed in August 2024, saw a significant number of leases for smaller units, with studio and one-bedroom flats making up 55.4% of total leases.

George Tan of Savills Singapore noted that the influx of new completions has created a strong value proposition for tenants seeking quality homes in central regions. Alan Cheong, also from Savills, highlighted potential challenges ahead, including corporate cost control and the impact of generative AI on the workforce, which may affect future demand for foreign tech workers.

As the market absorbs vacant units from recent completions, the island-wide vacancy rate eased slightly to 6.5%. Looking forward, the leasing demand for well-located properties is expected to remain robust, driven by lifestyle appeal and connectivity.
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AI-powered platform Atiom has announced a strategic partnership with Minor Group, a global hospitality leader, to revolutionise staff training and engagement across more than 560 luxury hotels and resorts. This collaboration aims to enhance communication, training, and guest services by providing personalised daily quests through Atiom’s gamified platform.

The partnership will see the initial rollout of 17,000 licences across Minor Hotels’ diverse portfolio, including renowned brands such as Anantara Hotels & Resorts and Avani Hotels & Resorts. Atiom’s platform offers tools for AI tutor modules, role-play simulations, and quizzes, alongside features for self-audits and peer recognition, ensuring teams remain aligned with company objectives.

This initiative is a significant milestone for Atiom, marking its expansion in the luxury hospitality sector. Minor Group aims to empower its teams, optimise training costs, and improve operational efficiency through this collaboration. The Singapore hospitality market is projected to reach $11b by 2033, and this partnership positions Minor Group to meet growing demand effectively.

Matthew Spriegel, CEO of Atiom, stated, “This rollout marks a significant milestone for Atiom. Minor Hotels is a forward-thinking partner that understands the need to empower frontline teams with smarter tools.” Craig Cochrane, Chief People Officer at Minor Hotels, added, “The launch of Atiom in our hotels has been a key enabler in reinforcing our brand standards.”

With over 2,000 food and beverage outlets globally, Minor Group’s partnership with Atiom is poised to enhance its operational efficiency and profitability, solidifying Atiom’s role in the luxury hospitality industry.
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Singapore Technologies Engineering Ltd (STE) has reported a steady performance for the first quarter of the financial year 2025, with revenue largely meeting expectations. The company’s defence sector led the way in segmental performance, contributing significantly to the overall results.

Despite this, DBS Group Research has downgraded STE to a “hold” rating, citing a balanced risk-reward scenario.

The company’s target price has been slightly increased to S$7.70, reflecting its stable growth. However, the potential for further upside appears limited. A notable achievement for STE is the record high order backlog of SGD29.8 billion, bolstered by healthy contract wins amounting to S$4.4b. This backlog underscores the company’s robust pipeline and future revenue potential.

Whilst tariffs are anticipated to have a minimal impact on near-term earnings, the situation could change if trade tensions escalate significantly. The company’s strategic positioning in the defence sector continues to be a key driver of its performance, yet the overall outlook remains cautious.

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