Industry News

Hybrid working is significantly advancing gender parity and supporting women’s career progression, according to new research by International Workplace Group. The study, conducted with over 1,000 female workers, found that 64% of women consider hybrid work almost twice as important as parental leave in supporting their careers. Over half of the respondents reported that hybrid work has led to promotions into more senior roles.

The research highlights the importance of flexibility, with 84% of women considering it a key factor when applying for new roles. Additionally, 58% would leave their job if required to endure long daily commutes. The flexibility of hybrid work also enables 68% of women to remain in the workforce despite caretaking responsibilities.

In Singapore, flexible work arrangements have contributed to narrowing the employment gap between men and women, which decreased from 20.1 percentage points in 2013 to 12.4 percentage points in 2023. The Tripartite Guidelines on Flexible Work Arrangements Requests have further supported women in balancing professional and personal commitments.

Fatima Koning, CCO of International Workplace Group, stated, “IWG’s latest study shines a light on the key role hybrid and more flexible ways of working opportunities can play in achieving parity.” Mark Dixon, CEO of International Workplace Group, added, “Companies that prioritise flexible and hybrid ways of working will gain a competitive edge in attracting and retaining top female talent.”

The study underscores that hybrid work not only supports women’s career advancement but also boosts productivity, with 82% of women feeling more productive when working from a location of their choice. This flexibility is crucial for businesses aiming to retain talent and enhance productivity.
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GROW with Singlife, an integrated investment platform under Singlife, has partnered with abrdn Investments to launch an exclusive share class of the abrdn SICAV II Global Income Bond Fund. The fund, available only on GROW’s platform, aims to deliver a compelling yield to worst of 6.5% USD hedged, offering attractive monthly payouts and potential capital appreciation.

The fund strategically invests in a globally diversified portfolio of crossover bonds, rated between BBB and BB, to balance stability and higher returns. This approach caters to conservative investors seeking stability and those pursuing higher yields. The launch comes as inflation eases globally and central banks are expected to cut rates, making traditional short-term cash management instruments less appealing. Fixed income investments are gaining traction for their ability to provide higher yields and sustainable returns.

Tim Wong, Head of Product at GROW with Singlife, stated, “This fund represents a compelling option for those seeking attractive, stable income solutions with controlled risks.” The fund addresses the growing need for reliable retirement income, especially as Singapore’s population ages. A 65-year-old today requires an estimated $685,000 to fund 20 years of retirement, highlighting the importance of stable payouts.

Natalie Tan, Head of Wholesale Southeast Asia at abrdn Investments, expressed enthusiasm for the partnership, noting that the fund offers a valuable addition to income-focused portfolios. With a strong history of delivering consistent income and competitive performance, the fund ranks among the top performers in its category, according to Morningstar.

The abrdn SICAV II Global Income Bond Fund was officially introduced at a launch event at Marina One, attended by industry leaders and financial advisers. Investors can learn more by contacting their financial advisers or visiting GROW’s website.
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Oracle has announced the launch of its AI Centre of Excellence in Singapore, designed to serve as a regional hub for AI innovation and collaboration across Southeast Asia. The centre, unveiled during the Oracle CloudWorld Tour, aims to help organisations adopt the latest AI technologies and remain competitive in a rapidly evolving digital landscape.

The centre will provide a platform for organisations to access cutting-edge cloud and AI technologies, world-class training, and a dynamic environment for experimentation. Garrett Ilg, executive vice president of Oracle Japan and Asia Pacific, stated, “The Oracle AI Centre of Excellence will empower individuals and organisations of all sizes across Southeast Asia with cutting-edge cloud and AI technologies, world-class training, and a dynamic environment for experimentation and innovation.”

The initiative is part of Oracle’s commitment to train 10,000 students and professionals in Singapore by 2027, equipping them with the latest digital skills. The centre will offer training sessions and certifications led by Oracle University and ecosystem partners, supporting workforce transformation in the region.

In collaboration with partners such as Accenture, Deloitte, and PwC, the centre will enable organisations to test AI innovations in secure cloud environments, conduct proof-of-concept projects, and rapidly implement AI features across various industries, including healthcare, financial services, and telecommunications.

The Oracle AI Centre of Excellence reflects Oracle’s ongoing commitment to driving AI adoption and success in Southeast Asia, fostering a future-ready workforce and enhancing business operations through advanced AI solutions.
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ST Telemedia Global Data Centres (STT GDC), a leading data centre colocation service provider based in Singapore, has announced that two of its facilities—STT Singapore 6 and STT Bangkok 1—have achieved certification under the NVIDIA DGX-Ready Data Centre programme. This certification marks STT GDC as an NVIDIA colocation partner, enabling it to offer advanced AI infrastructure to its clients.

The NVIDIA DGX platform is designed for enterprise AI, supporting workloads such as analytics, training, and inference. The certification allows STT GDC to provide state-of-the-art facilities for AI workloads, ensuring robust infrastructure and expertise for high-performance AI deployment. Daniel Pointon, Group Chief Technology Officer at STT GDC, stated, “Achieving this certification underscores our commitment to supporting the rapid growth of AI adoption across industries.”

Tony Paikeday, Senior Director of AI Systems at NVIDIA, highlighted the importance of optimised environments for AI infrastructure, noting that STT GDC’s certification empowers enterprises in Southeast Asia to streamline their AI initiatives.

The global AI market is rapidly expanding, with spending expected to exceed $632 billion by 2028, according to IDC. As AI continues to drive innovation across various sectors, strategic investments in AI infrastructure are crucial for businesses seeking to gain a competitive edge. STT GDC’s certification positions it as a key player in supporting these advancements, offering next-generation infrastructure capable of meeting the thermal demands of cutting-edge AI technologies.
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UTI International Singapore Pte. Ltd. has announced the appointment of Jermyn Wong as its new Chief Executive Officer. Wong, who will be based in the company’s Singapore office, joins from State Street Global Advisors (SSGA), where he was the Head of Intermediaries for Southeast Asia. His career includes significant roles such as Head of SPDR ETFs Singapore and positions at Nikko Asset Management and Genk Capital.

Wong expressed his enthusiasm for the new role, stating, “I am honoured and excited to take on the role of CEO at UTI International Singapore and to work alongside an extremely talented and passionate team. As an asset manager with deep roots of investing in India, I look forward to bringing UTI’s investment capabilities to our clients and investors.”

Praveen Jagwani, Global Head at UTI International, welcomed Wong, highlighting his expertise in distribution, capital markets, and product development. “We are delighted to have him helm our South Asian franchise, where he will undoubtedly take our brand to greater heights,” Jagwani said.

UTI International is a subsidiary of UTI Asset Management Company (UTI AMC), India’s oldest money manager, managing over $240 billion in assets. The firm focuses on India-centric strategies for various financial institutions across Europe, South Asia, and the Middle East. With Wong’s appointment, UTI International aims to strengthen its presence and expand its reach in the asset management industry.
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Singapore-headquartered OCBC, Southeast Asia’s second-largest financial services group by assets, has implemented Oracle Fusion Cloud Enterprise Resource Planning (ERP) to unify its global finance platform. This strategic move aims to increase efficiency, improve insights, and enhance compliance across its operations. The Singapore-headquartered bank, with nearly 420 branches in 19 countries, is transitioning from manual processes to digital solutions to support its growth in the ASEAN-Greater China network.

The adoption of Oracle Cloud ERP allows OCBC to automate its finance operations and reporting, fostering organisational effectiveness. Goh Chin Yee, group chief financial officer at OCBC, stated, “It is imperative that we work together as One Group to drive synergies that will foster growth.” The platform’s capabilities in data analytics and artificial intelligence (AI) are expected to help OCBC swiftly adapt to changes in the operating environment whilst maintaining regulatory compliance.

Oracle Fusion Cloud Enterprise Performance Management (EPM), part of the ERP suite, has further aligned OCBC’s financial consolidation and reporting processes. Adrian Johnston, senior vice president of Applications at Oracle Asia Pacific, highlighted the importance of embracing new technologies for innovation and transformation in the financial sector.

OCBC’s implementation of Oracle Cloud ERP is part of a broader trend, with over 10,000 organisations globally using the platform to enhance their business operations. The bank’s recent recognition with the Finance Innovation Award at the 2025 Oracle Customer Excellence Awards underscores its commitment to leveraging technology for financial excellence.
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The American Chamber of Commerce in Singapore (AmChamSG) has launched its newly expanded hub, marking a significant milestone in its commitment to fostering collaboration and innovation among its member companies. The grand opening, held on 13 March, was attended by Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, who highlighted the hub’s role in strengthening US-Singapore business relations.

The expansion of the AmChamSG Hub underscores the Chamber’s dedication to facilitating growth and innovation within the business community. Nilesh Shah, Vice President and General Manager of Emerging Markets at West, emphasised the hub’s importance, stating, “AmChamSG plays an important role in the business community and is a platform that enables industry leaders to connect, share insights, and address critical business challenges.”

In a bid to promote sustainable impact, AmChamSG collaborated with Sunray Woodcraft Construction to donate preloved office furniture to community partners, including Yio Chu Kang Grassroots and the Anglican Senior Centre PEACEConnect. Additionally, a wall mural was commissioned from artists Eunice Hannah Lim and Nur Sabrina Binte Rahim, a member of the Rainbow Centre’s Artability programme, to support differently-abled artists.

Dr HsienHsien Lei, CEO of AmChamSG, remarked, “The AmChamSG Hub is the heart of the American business community in Singapore. This expansion reflects our commitment to fostering and strengthening the enduring relationship between the United States and Singapore.”

Established in 1973, AmChamSG is the largest international business association in Singapore, with nearly 700 member companies. The hub’s expansion is set to further support the community through advocacy, thought leadership, and sustainable initiatives.
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Chief Justice Sundaresh Menon of Singapore recently visited the Supreme Court of Korea to bolster judicial cooperation between the two nations. Hosted by Chief Justice Jo Heede on 11 March 2025, the visit included a bilateral meeting where both leaders engaged in discussions aimed at enhancing the administration of justice in their respective jurisdictions.

During the two-day visit from 11 to 12 March, the Singapore delegation explored several key judicial institutions in Korea. This included a tour of the Seoul Bankruptcy Court, following a Memorandum of Understanding (MOU) signed in 2018 to collaborate on transnational insolvency proceedings. The delegation also visited the Judicial Research and Training Institute, Judicial Policy Research Institute, Supreme Court IT Centre, and Intellectual Property High Court, reflecting a shared commitment to judicial excellence.

In addition to these visits, a separate event was organised by the Singapore International Commercial Court (SICC) and the Korean Council for International Arbitration on 12 March. Justice Philip Jeyaretnam, President of the SICC, delivered a speech titled “The Singapore International Commercial Court and International Arbitration.” The event concluded with an interactive dialogue session where Chief Justice Menon and Justice Jeyaretnam addressed questions from participants.

This visit underscores the ongoing efforts to strengthen judicial ties and explore innovative legal practices, paving the way for future collaborations between Singapore and Korea.
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Vicplas International Ltd, listed on the SGX Mainboard, has reported a 9.4% increase in net profit for the first half of 2025, reaching S$245,000. This growth was accompanied by a 6.4% rise in revenue, totalling S$54.3m for the period ending 31 January 2025.

The company’s medical devices segment experienced a boost in performance due to increased orders from certain customers. However, this was offset by higher operating costs related to the expansion of its Changzhou plant and the start-up costs for a new facility in Mexico. Meanwhile, the pipes and pipe fittings segment benefited from robust activity in Singapore’s construction sector, although its performance was slightly affected by a cautious sales approach focusing on credit risk management.

Despite facing increased operating expenses, including a 16.6% rise in other operating costs and a 61.9% increase in finance costs, Vicplas managed to achieve a profit before tax of S$505,000, marking an 82.3% improvement from the previous year. The company’s adjusted EBITDA also saw a 9.5% increase, reaching S$4.4m.

Looking ahead, Vicplas International’s strategic focus on expanding its global footprint and managing operational costs will be crucial as it navigates the challenges and opportunities in its key markets.
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Flexiv Robotics has announced the expansion of its operations in Singapore, moving to a larger facility within Singapore Science Park 1. This strategic relocation comes in response to the increasing demand for adaptive robotic solutions in the region. Singapore, renowned for its commitment to cutting-edge technology, remains a key market for Flexiv, underscoring the company’s dedication to growth and innovation in the area.

The expansion reflects the thriving nature of the robotics sector, even amidst global economic challenges. Flexiv’s decision to enlarge its Singaporean footprint highlights the company’s confidence in the market’s potential and its commitment to providing advanced robotic solutions. The new headquarters will accommodate Flexiv’s growing team and the rising customer demand for its adaptive robotics technology.

Flexiv’s PR Manager, Noah Barker, emphasised the significance of the move, stating that the company’s growth in Singapore is a testament to the region’s robust technological landscape. The relocation to a larger office and warehouse is a strategic step to better serve the needs of their expanding customer base.

As Flexiv continues to innovate and expand, the company’s presence in Singapore is set to contribute positively to the local economy, creating new jobs and opportunities in the robotics sector. This development not only marks a significant milestone for Flexiv but also reinforces Singapore’s position as a hub for technological advancement.
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