Industry News

Singapore Polytechnic (SP) has launched a new HR learning journey titled “Building Companies of Good – Planet” at the HR Learning Fest & Symposium 2025, attended by over 800 HR leaders, business professionals, and students. This initiative, part of the national SkillsFuture Festival, seeks to empower small and medium enterprises (SMEs) to enhance their employer branding, navigate labour market challenges, and integrate sustainability into their workforce practices.

The symposium, graced by Senior Minister of State Desmond Tan, highlighted pressing workforce issues such as talent shortages and the need for sustainable workforce development. SP’s new learning journey builds on previous themes of Profit & People, focusing on equipping SMEs with future-ready HR strategies.

SP has also formalised strategic partnerships with key industry players, including the Singapore Precision Engineering & Technology Association and the Food, Drinks and Allied Workers Union. These alliances aim to support workforce transformation through resources like the Sectoral Guide on Fair Workplace Practices for Manufacturing and co-developed human capital policy templates for the accommodation sector.

Additionally, SP signed Memoranda of Understanding with several organisations, including Elitez Private Limited and the Singapore Fintech Association, to foster a future-ready workforce through collective actions such as workforce upskilling and student-industry engagement.

Principal and CEO of Singapore Polytechnic, Soh Wai Wah, emphasised the institution’s commitment to driving workforce transformation through business-aligned, people-first efforts. The HR Learning Fest and Symposium, along with the new HR learning journey, demonstrate SP’s dedication to enhancing HR capabilities and aligning talent development with Singapore’s evolving workforce priorities.
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Singlife has released a white paper titled “From Awareness to Action: Securing Long-Term Care for a Super-Aged Society,” highlighting the urgent need for improved financial readiness and awareness of long-term care in Singapore. Drawing on data from Singlife’s insurance claims and research studies, the paper reveals that the average cost of long-term care is nearly S$3,000 per month, a figure underestimated by more than half of the respondents.

The paper underscores a critical gap between the coverage provided by national schemes like ElderShield and CareShield Life, which offer up to S$662 per month, and the actual costs incurred. With only one in three Singaporeans aged 30 and above having supplementary insurance, the financial burden on individuals and families is significant. Singlife’s data indicates that long-term care is required for an average of 10 years, with some cases extending beyond 15 years, affecting not just the elderly but younger individuals as well.

Singlife’s CEO, Pearlyn Phau, emphasised the need for a shift from passive awareness to active preparation, urging collaboration between public and private sectors to make long-term care more accessible and coordinated. The launch of the white paper was accompanied by a panel discussion featuring experts from Dementia Singapore, NHG Health, and others, addressing the challenges and solutions for managing rising long-term care demands.

As Singapore approaches a “super-aged” status by 2026, with one in five residents aged 65 and above, the white paper calls for aggressive public education and a comprehensive approach to ensure a sustainable and dignified long-term care system.
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Singapore’s property market displayed a mixed performance in Q2 2025, according to CBRE Research’s analysis of the Urban Redevelopment Authority’s (URA) latest statistics. The office sector experienced a slight decline, with the URA Office Rental Index for the Central Region dropping by 0.3% quarter-on-quarter (q-o-q), reversing the previous quarter’s increase. Category 1 office spaces saw a 3.2% decline in median rental rates, despite a reduction in vacancy rates from 11.7% to 11.0%, attributed to the absorption of space at IOI Central Boulevard Towers.

Conversely, Category 2 office spaces recorded a 2.7% increase in median rents, marking the third consecutive quarterly rise. CBRE noted that the Core CBD Grade A segment continued to see rent growth, with a 0.4% q-o-q increase, as businesses prioritised premium spaces. Tricia Song, CBRE Head of Research, Southeast Asia, highlighted the ongoing global economic uncertainties influencing these trends.

In the retail sector, rents in the Central Region rose by 0.9% q-o-q, reversing a previous decline. However, the islandwide private retail market faced negative net absorption, with vacancy rates increasing to 7.0%. Despite challenges, certain sectors, including food and beverage, showed expansion, with brands like Pizza Studio Tamaki and Huggs leading demand.

The residential market saw private housing prices rise by 1.0% q-o-q, driven by a 2.2% increase in landed property prices. Non-landed properties experienced uneven growth, with the Core Central Region (CCR) leading with a 3.0% increase. The rental index for private residential properties rose by 0.8% q-o-q, indicating a recovery from the previous year’s correction.

Looking ahead, CBRE anticipates continued growth in the office and retail sectors, supported by limited new supply and Singapore’s stable business environment. The residential market is expected to see improved sales with more launches in the second half of 2025.
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The Singapore Island Country Club (SICC) has embarked on an ambitious SG60 Tree Planting Initiative to celebrate Singapore’s 60th year of independence. This initiative, which involves planting 60 native trees across the club’s grounds, aims to honour the nation’s heritage and promote sustainability. Among the trees planted is the historically significant Hopea sangal, also known as the Changi Tree.

During the third of several planned planting sessions, 40 participants gathered to plant 15 trees. This effort aligns with Singapore’s Green Plan 2030, reflecting SICC’s commitment to environmental goals and the preservation of biodiversity. Ian Geoffrey Roberts, General Manager of SICC, emphasised the initiative’s significance, stating, “It is a symbol of our collective responsibility to protect the environment, preserve our natural heritage, and contribute meaningfully to a sustainable future.”

Central to the initiative is the Hopea sangal, a tree species once thought extinct in Singapore. Rediscovered in 2002 and designated as a National Heritage Tree, its planting at SICC underscores the club’s dedication to conservation. The club is also supporting a biodiversity recovery programme, which includes the propagation of 300 Hopea sangal saplings.

The initiative also holds personal significance for club members and staff celebrating their 60th birthdays in 2025, connecting their personal milestones with the nation’s history. SICC’s commitment to sustainability is further demonstrated by repurposing timber from necessary tree removals into eco-friendly course fixtures.
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ST Engineering has announced a remarkable $4.7b in order wins for the second quarter of 2025, marking its strongest quarterly performance since the second quarter of 2023. This achievement follows a robust first quarter, where the company secured $4.5b in orders. The year-to-date total for 2025 now stands at $9.2b, positioning the company well to surpass its 2024 figure of $12.5b.

The company’s record-high order book is attributed to structural tailwinds, including increased global defence spending and resilient demand across its core segments. This momentum provides solid revenue visibility and growth prospects for the company. Analyst Shekhar Jaiswal has maintained a “BUY” recommendation for ST Engineering, with a target price of SGD8.70, indicating a 5% upside and a 2% yield forecast for the financial year 2026.

The sustained order momentum underscores ST Engineering’s strategic positioning in the market, capitalising on global trends and demand. The company’s ability to secure such significant orders highlights its competitive edge and the trust placed in it by clients worldwide.

Looking ahead, ST Engineering’s robust order book is expected to drive continued growth, supported by favourable market conditions and strategic initiatives. The company’s focus on core segments and global defence spending trends positions it well for future success.
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Citi has been recognised as the Best International Bank and Best Investment Bank for M&A in Singapore at the Euromoney Awards for Excellence 2025. The bank achieved a record haul, winning 52 awards globally, including the prestigious Banker of the Year award for CEO Jane Fraser. The awards, announced at a ceremony in London, underscore Citi’s leadership and robust performance across Asia and beyond.

Citi’s success at the Euromoney Awards highlights its strong presence in the region, with the bank also being named the Best International Bank in six other markets. Jane Fraser’s leadership was particularly commended, with Euromoney noting her “decisive action to reshape Citi into a simpler and more coherent bank,” which has brought new business momentum. Fraser attributed the accolades to the “extraordinary dedication” of Citi’s global team, emphasising their role in driving the bank forward.

Tibor Pandi, Citi’s Singapore Country Officer, expressed pride in the bank’s achievements, stating, “As Euromoney’s Best International Bank in Singapore, we are proud to provide our clients with access to our international network and expertise.” Citi, which has been operating in Singapore since 1902, continues to be a full-service partner for its clients, offering a wide range of banking, markets, services, and wealth management solutions.

The Euromoney Awards, now in their 30th year, are a benchmark for excellence in the banking industry, recognising institutions that excel in areas crucial to stakeholders, including clients and executive management teams. The awards considered performance during the 2024 calendar year.
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Tazapay, a leader in simplifying cross-border trade, has been acknowledged in CNBC’s World’s Top Fintech Companies 2025 list, developed in partnership with Statista. The recognition, under the Payments category, highlights Tazapay’s role as a trusted partner for digital businesses expanding globally. CEO and co-founder Rahul Shinghal stated, “They don’t just need a payment gateway—they need a compliant, scalable, and interoperable infrastructure that lets them move quickly across borders.”

The platform is celebrated for its ability to facilitate global expansion without the need for local entities, offering fiat and stablecoin interoperability, and enabling local payment collection in 80 countries. Tazapay also provides named virtual accounts in 35 currencies and supports global payouts in 100 currencies with real-time tracking and built-in compliance. This single integration allows businesses to go live faster and operate seamlessly across different geographies.

Licensed by the Monetary Authority of Singapore, Tazapay has seen strong adoption across Southeast Asia, India, the Middle East, and other high-growth markets. The platform is backed by notable investors, including Sequoia and the PayPal Alumni Fund, and supports businesses in 170 markets.

This recognition underscores Tazapay’s commitment to eliminating barriers to scale for businesses, offering a seamless payment experience without the complexity of setting up local entities. As the fintech landscape continues to evolve, Tazapay’s innovative solutions position it as a key player in the industry.
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Lubrizol, a global leader in speciality chemicals, has inaugurated its Southeast Asia Innovation Centre in Jurong, Singapore. This state-of-the-art facility is designed to enhance collaboration and deliver market-relevant innovations, supporting Lubrizol’s commitment to providing high-value solutions and accelerating speed to market for customers in Southeast Asia. The centre will serve a diverse range of industries, including mobility, infrastructure, mining, data technology, beauty, personal care, and healthcare.

Spanning 15,000 square metres, the centre features advanced laboratories, immersive experience zones, and dedicated spaces for technical training and knowledge exchange. It houses scientists and product developers who utilise local research and development capabilities to unlock opportunities across various sectors. Henry Liu, Vice President of Lubrizol Asia Pacific, stated, “This new Innovation Centre represents a significant commitment to our innovation locally.”

As part of the launch, Lubrizol signed Memorandums of Understanding (MOUs) with United Oil Company and the Singapore Economic Development Board (EDB). These agreements aim to explore joint innovation opportunities and expand market reach through collaborative product development. Rebecca Liebert, President and CEO of Lubrizol, highlighted Singapore’s pivotal role in the company’s global innovation network due to its robust R&D ecosystem.

The centre is expected to create new job opportunities in commercial, technical, and R&D roles, further strengthening Lubrizol’s longstanding partnership with Singapore. Lim Wey-Len, Executive Vice President at the EDB, remarked that the centre is a strong endorsement of Singapore’s position as a hub for innovation and advanced manufacturing.
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Alpha Ladder Finance has been granted a patent in Singapore for its Non-Fungible Digital Twin (NFDT) framework, a blockchain-native architecture designed to digitally represent real-world assets. This patent, awarded by the Intellectual Property Office of Singapore, marks a significant advancement in Web3 and digital infrastructure, allowing for verifiable, compliant, and programmable ownership through tokens.

The NFDT framework, which was initially filed in April 2021, addresses the limitations of static Non-Fungible Token (NFT) models by introducing an advanced smart contract architecture. This enables asset records to evolve by capturing real-world changes in usage, condition, and ownership through a secure, timestamped ledger. Unlike conventional NFTs, NFDTs are designed for live assets with evolving data streams, supporting compliance-grade reporting and asset-backed financing.

Dr Bo Bai, Executive Chairman and Co-Founder of Alpha Ladder Group, stated, “We started building the NFDT framework because we knew the market would eventually demand real-time, non-fungible, and verifiable asset intelligence, not static records or speculation.”

The NFDT technology is expected to play a crucial role in the burgeoning market for real-world asset tokenisation, projected to surpass $16 trillion by 2030. This growth is driven by demand from sovereign wealth funds, financial institutions, and capital market participants, who increasingly expect transparency and auditability.

With the patent secured, Alpha Ladder Finance is collaborating with strategic partners to roll out NFDT-powered applications across various sectors, including renewable energy, real estate, and ESG-linked financial products. This innovation aims to empower enterprises, investors, and regulators by bridging real-world performance with digital finance.
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Frasers Centrepoint Asset Management Ltd., the manager of Frasers Centrepoint Trust (FCT), has announced a successful third quarter for 2025, marked by the acquisition of Northpoint City South Wing. This strategic move, completed with overwhelming unitholder support, aims to unlock value through asset enhancement initiatives (AEIs), tenant mix strategies, and operational efficiencies.

The acquisition has bolstered FCT’s position as a leading owner of prime suburban retail space in Singapore. The trust reported a stable committed occupancy rate of 99.9% and a year-on-year increase in shopper traffic and tenant sales by 2.1% and 4.4%, respectively. These metrics underscore the resilience of FCT’s operational and financial performance amidst a challenging retail environment.

Financially, FCT has improved its cost of debt, which now stands at 3.8%, down from 3.9% in the previous quarter. The aggregate leverage has increased to 42.8% as of 30 June 2025, reflecting the strategic investments made during the period. The average debt maturity has also extended to 3.38 years.

In addition to the acquisition, FCT has commenced AEI at Hougang Mall, targeting a 7% return on investment on a $51 million (local currency) capital expenditure. The project has already secured 74% leasing pre-commitment, introducing new-to-mall concepts and reinforcing the mall’s appeal.

Looking ahead, FCT’s strategic initiatives and robust financial metrics position it well to capitalise on growth opportunities in Singapore’s retail market. The trust’s proactive management and strategic acquisitions are expected to continue driving value for unitholders.
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