Industry News

GlobalFoundries (GF) has announced a strategic partnership with Singapore’s Agency for Science, Technology and Research (A*STAR) to advance semiconductor packaging technologies. This collaboration, formalised through a Memorandum of Understanding (MOU), will see GF leveraging A*STAR’s state-of-the-art research and development facilities and technical support to enhance its capabilities in advanced packaging.

The initiative comes as the semiconductor industry faces increasing demand for artificial intelligence (AI) and data-intensive applications, necessitating compact, high-performance, and energy-efficient solutions. Under the MOU, A*STAR will provide GF with access to its R&D resources, whilst GF will supply critical equipment to bolster A*STAR’s research efforts. This partnership aims to accelerate GF’s development of advanced packaging solutions, enabling the company to offer comprehensive semiconductor chip services at its Singapore facility.

Gregg Bartlett, GF’s Chief Technology Officer, highlighted Singapore’s robust semiconductor ecosystem as an ideal environment for innovation, stating, “This aligns to our global advanced packaging roadmap and reinforces our commitment to deliver more energy-efficient essential chips that are crucial for our customers, especially in the AI era.”

The collaboration also focuses on workforce development, with initiatives to upskill GF employees in advanced packaging. Terence Gan, Executive Director at A*STAR Institute of Microelectronics, emphasised the importance of public-private R&D collaboration in maintaining Singapore’s competitive edge in the global semiconductor supply chain.

This partnership follows GF’s earlier announcement of a new Advanced Packaging and Photonics Centre in New York, marking significant progress in its strategic roadmap to meet global customer demand.
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Delta Electronics is showcasing its latest Digital Twin Solution at SEMICON Southeast Asia 2025, held at the Sands Expo and Convention Centre in Singapore. The solution is designed to revolutionise semiconductor manufacturing by improving efficiency, precision, and cost-effectiveness through virtual simulation and verification.

The Digital Twin Solution, featuring the DIATwin platform, allows manufacturers to simulate and optimise machine operations before physical deployment. This innovation is expected to reduce downtime and enhance accuracy, crucial for the semiconductor industry where precision is paramount. “The next era of smart manufacturing is defined by intelligence, connectivity, and sustainability,” said Jimmy Wan, Country Manager of Delta Electronics Singapore and Malaysia. He emphasised the need for manufacturers to rethink design and production processes to remain competitive.

Delta is also highlighting its advanced industrial automation and energy infrastructure technologies, which aim to optimise manufacturing processes and improve operational reliability. Among these is the High-Speed Wafer Feeder from Universal Instruments, a subsidiary of Delta, which integrates with the FuzionSC™ Platform to streamline semiconductor assembly.

The company’s commitment to sustainability is evident in its efforts to reduce environmental impact and achieve net-zero emissions by 2050. Delta’s participation in SEMICON SEA 2025 underscores its role in driving smart and sustainable manufacturing solutions.

SEMICON Southeast Asia 2025 continues until 22 May, offering attendees a glimpse into the future of semiconductor manufacturing. Delta’s innovations are on display at booth B2009, EXPO Hall E (B2).
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Logicap, a Singapore-based logistics and industrial infrastructure specialist, has strengthened its partnership with Mitsubishi Estate, a leading Japanese real estate group, through a second strategic investment. This move highlights the growing global investor confidence in India’s rapidly evolving logistics sector. The investment, finalised in April 2025, builds on an initial joint venture launched in September 2024, positioning Logicap as a preferred platform for international institutional capital.

The partnership aims to develop a 13.5 million sq ft pan-India portfolio, focusing on high-growth corridors such as Mumbai, Pune, Chennai, Bangalore, and Delhi NCR. Logicap’s development platforms, Pragati Warehousing and Ecobox, will manage the full lifecycle of these projects, ensuring ESG integration and operational excellence. “This strengthened partnership with Mitsubishi Estate reflects the strong strategic alignment between our organisations and our shared long-term vision for India’s infrastructure landscape,” said Priyank Shah, Head of Fund Management at Logicap.

Mitsubishi Estate’s continued investment underscores the strength and credibility of Logicap’s operating model, which combines institutional governance and deep local expertise. The joint venture will develop assets in strategic locations like Chennai, Sriperambdur, and Mapeddu, catering to manufacturing tenants. Abhay Goyal, Chief Investment Officer at Logicap India, stated, “With Mitsubishi Estate’s deep global experience and our strong local execution capabilities, we are well positioned to unlock value across key markets.”

This collaboration not only enhances Logicap’s portfolio but also affirms its role as a credible platform driving the next wave of infrastructure growth in India.
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CEOs in Singapore are proactively addressing trade and tariff uncertainties, with 53% planning mergers and acquisitions (M&A) in the coming year, according to the latest EY-Parthenon CEO Outlook Survey. The survey, which included 40 Singaporean business leaders, highlights that 98% of CEOs globally are worried about the impact of tariffs on operations and sales over the next 12 months.

The survey reveals that 38% of Singaporean CEOs are very or extremely concerned about tariffs, prompting 53% to explore new supply chain options. Purandar Rao, EY-Parthenon Asean and Singapore Strategy and Transactions Leader, noted that Singapore’s economy, less reliant on the US market, may face indirect impacts from global manufacturing declines.

Despite the challenges, the appetite for M&A remains strong, with 66% of Singapore CEOs reporting that recent acquisitions met or exceeded value expectations. Luke Pais, EY-Parthenon Asia-Pacific Private Equity Leader, emphasised that M&A can unlock synergies and drive long-term growth even in uncertain times.

The survey also highlights mixed results from artificial intelligence (AI) investments. Whilst 42% of Singapore CEOs plan to expand AI investments, 18% are reconsidering due to unclear returns. Joongshik Wang, EY-Parthenon Asia-Pacific and Asean Strategy and Execution Leader, suggested that AI could reduce operational costs by up to 30% and enhance efficiency by up to 40%.

As inflation remains a concern for 68% of Singaporean CEOs, many are focusing on cost management strategies. The survey underscores the resilience and adaptability of CEOs in navigating complex global challenges.
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FOMO Pay, a major payment institution based in Singapore, has announced its partnership with the Global Dollar Network (GDN) to integrate the Global Dollar (USDG) stablecoin into its digital payment infrastructure. This move aims to facilitate near-instant, transparent, and regulated stablecoin payments for merchants and corporates, enhancing the checkout experience with more flexible payment options.

The integration of USDG will allow FOMO Pay’s extensive merchant base, which includes sectors such as food and beverage, hospitality, and retail, to accept USDG payments seamlessly. This development is expected to translate digital currency innovation into practical applications, offering consumers more payment flexibility. Additionally, corporate clients of FOMO Pay will benefit from streamlined cross-border payments, characterised by increased speed, transparency, and regulatory assurance.

Louis Liu, the founder and CEO of FOMO Pay, stated, “The broader adoption of regulated stablecoins marks the next chapter in financial innovation, unlocking new possibilities for faster, more transparent, and compliant payments. USDG is a meaningful step in that direction, and we are pleased to join the Global Dollar Network as one of its first members to advance stablecoin adoption.”

FOMO Pay’s strong local banking and payment infrastructure across Southeast Asia, the Greater Bay Area, and the Middle East and North Africa positions it to contribute to a more inclusive and interoperable future for digital finance. The company remains committed to partnering with industry leaders to deliver faster, cost-effective, and regulated payment solutions, ultimately driving innovation in digital finance and making modern financial instruments more accessible to businesses globally.
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FedEx has announced the winners of its 2025 Small Business Grant Contest in the Asia Pacific, awarding a total of $69,000 to four innovative startups. The contest, held in collaboration with Forbes Asia, highlighted the achievements of Aliena and NEU Battery Materials from Singapore, Digantara from India, and McEasy from Indonesia. These companies were selected for their pioneering work in manufacturing, energy, construction and logistics, and space technology.

Digantara, founded by Anirudh Sharma in 2018, emerged as the grand prize winner, receiving $30,000. The company is developing a ‘Google Maps’ for space, providing space surveillance and intelligence to help manage satellite traffic. “This year’s winners demonstrate how technology-driven entrepreneurship is delivering real-world solutions,” said Kawal Preet, president of Asia Pacific, FedEx.

The three other startups received Special Mentions and $13,000 each. Aliena, co-founded by Mark Lim, creates electric-propulsion engines for satellites, enhancing operations in low Earth orbits. McEasy, led by Raymond Sutjiono, offers fleet monitoring solutions using AI and IoT technologies. NEU Battery Materials, founded by Bryan Oh, focuses on lithium recovery from waste batteries, aiming to reduce environmental impact.

The FedEx Small Business Grant Contest, launched in the US in 2012, now spans 31 international markets, supporting startups with innovative and scalable business ideas.
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PropertyGuru Group, Southeast Asia’s leading property technology company, has unveiled its Sustainability Report 2024, showcasing significant progress in decarbonisation and promoting inclusive living. The report, part of the ‘Gurus For Good’ strategy, outlines the company’s efforts to build climate-resilient cities as urbanisation in Southeast Asia accelerates, with 63% of the population expected to live in urban areas by 2050.

The report highlights PropertyGuru’s achievement of 100% renewable energy for its direct operations, marking a milestone in its decarbonisation journey.

The company has also introduced the ‘Everyone Welcome’ feature on its Singapore marketplace, which promotes inclusive rental listings by highlighting properties open to tenants of all races, genders, religions, and sexual orientations. Currently, one in four rental listings on PropertyGuru Singapore carries this tag, facilitating the search for diversity-friendly homes.

Additionally, PropertyGuru has responded to the growing demand for sustainable living by providing the Green Score on its Singapore marketplace, a trusted indicator for 63% of property seekers. In Thailand, the newly launched ‘Sustainable Living’ feature highlights eco-friendly homes, addressing the 90% of Thai property seekers interested in sustainable housing.

Cécile Corda, Head of Sustainability at PropertyGuru Group, stated, “The demand for sustainable and inclusive housing is growing, and at PropertyGuru, we’re responding with actionable solutions.”

The report underscores PropertyGuru’s commitment to equipping property stakeholders with tools for informed, sustainable choices, aiming to foster resilient and inclusive urban environments. As the company continues to innovate, these initiatives are set to influence the property market significantly, promoting a more sustainable and inclusive future.
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Star Living, a prominent home furnishing brand in Singapore, has announced its foray into the electronics market with a new product line debuting this May. The initiative aims to transform Star Living into a comprehensive shopping destination for modern homeowners by offering a curated selection of everyday appliances and smart home essentials.

The new electronics range is available at Star Living showrooms in Sungei Kadut, Tampines, and Serangoon North. It includes Wells water and air purifiers, Roborock robot vacuums, and Deerma appliances such as dehumidifiers, air fryers, kettles, and hair dryers. The selection is designed to balance functionality, design synergy, and trusted brand reputation.

Koh Hong Jie, Group Retail Manager at Star Living, explained the strategic move: “We saw a growing need among new homeowners for a convenient shopping experience. Many are furnishing their homes and buying electronic products at the same time. Expanding our offerings was a natural step.”

Customers can experience the products firsthand, with opportunities to test robot vacuums under actual furniture and see how small appliances fit into different room layouts. For Wells products, Star Living will coordinate directly with Wells for fulfilment and installation, ensuring a seamless customer experience. Roborock and Deerma products are available for immediate purchase, offering instant gratification and reliable after-sales service.

This launch marks the beginning of Star Living’s journey into broader lifestyle categories, with plans to integrate smart living and furniture design further. The brand will assess the success of this initiative through showroom engagement, sales metrics, and customer feedback.
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Standard Chartered Bank, the Main Club Partner of Liverpool Football Club (LFC) since 2010, has provided over 300 corporate and affluent clients with exclusive experiences during the final matches of the Premier League season. This initiative, which included clients from Singapore, highlights the bank’s commitment to offering unique opportunities through its global partnerships.

During the match against Arsenal FC on 11 May, clients enjoyed pitch-side experiences, with one client’s child serving as a mascot. Additionally, five clients, accompanied by James Lye, Global and Singapore International Banking Head, took penalties against LFC legend Chris Kirkland. Patrick Lee, CEO of Standard Chartered Bank in Singapore and ASEAN, remarked, “Through our long-standing partnership with the Club, we have been able to create extraordinary experiences for our clients such as witnessing world-class football at Anfield.”

The partnership, one of the longest-running in Premier League history, will also see clients attending the season finale against Crystal Palace on 25 May, where they will witness Liverpool lifting the trophy for the 20th time. Beyond football, the collaboration emphasises community engagement, with initiatives like the “Futuremakers” programme and “Play On” encouraging education and sports participation among young people.

This enduring partnership underscores Standard Chartered’s strategy to leverage its global connections for client engagement, offering distinctive value and experiences that align with its commitment to transforming ambition into opportunity.
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CHAGEE, whose APAC office is headquartered in Singapore, has unveiled a new name for its bestselling drink, now called BOYA Jasmine Green Milk Tea, in celebration of International Tea Day on 21 May. This rebranding not only honours the drink’s immense popularity, with over 600 million cups sold annually, but also highlights the craftsmanship and cultural significance behind each cup.

The name BOYA is inspired by the Chinese legend of Bo Ya and Ziqi, symbolising a deep connection and understanding. This reflects CHAGEE’s mission to create meaningful experiences through tea. The drink is crafted using a traditional multi-round scenting method, where fresh jasmine blossoms are layered over green tea leaves, allowing the leaves to absorb the natural aroma without artificial additives.

BOYA combines two premium teas: Yunnan high-mountain leaves, known for their depth, and Fujian Da Bai Hao, prized for clarity. Each batch is meticulously handpicked, ensuring the highest quality. Eugene Lee, Chief Marketing Officer of CHAGEE APAC, stated, “BOYA holds special significance to us. It’s more than just our bestselling drink; it reflects what CHAGEE stands for.”

This renaming marks a significant year for CHAGEE’s international expansion, with successful entries into Indonesia and the United States. As the brand continues to grow, BOYA is set to lead as a symbol of CHAGEE’s evolving global identity, bridging heritage with modernity.
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