Industry News

Violas Xiao, the Singapore CEO of XTransfer, participated as a distinguished speaker at Money20/20 Asia, one of the most significant events in the global fintech calendar, held in Bangkok, Thailand. The event, which took place on 13 May 2025, featured the RiseUp panel, an initiative by Deutsche Bank aimed at promoting the careers of women in financial technology and fostering inclusive leadership.

During the panel discussion titled “Reevaluate the Power of Connection: How to Leverage Relationships,” Xiao joined other prominent speakers, including Kriti Jain from Deutsche Bank and Ivan Chang, with Rachel Whelan moderating. Xiao emphasised the importance of building authentic relationships in today’s interconnected world, stating, “Opportunities rarely happen by chance; they come from people who know and trust you.”

Xiao encouraged professionals, particularly newcomers, to engage with curiosity rather than credentials, suggesting open-ended questions to spark genuine conversations. She advised against waiting for the perfect moment, noting that most people are more approachable than assumed, and stressed the importance of sincerity in networking.

XTransfer, founded in 2017, is a leading B2B cross-border trade payment platform, providing secure and low-cost foreign trade payment solutions to over 600,000 enterprise clients. The company is committed to innovation in financial services and supporting the next generation of women leaders in the fintech industry. With local payment licences across multiple regions, including Mainland China, Hong Kong, Singapore, and the US, XTransfer continues to expand its global footprint.
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Prudential Singapore has achieved a significant milestone in the financial services sector, with 13 of its agency leaders receiving the prestigious 2025 Million Dollar Round Table (MDRT) Culture of Excellence Awards. This accomplishment places Prudential at the forefront, as it accounts for more than a third of the 33 global winners. The awards recognise exceptional leadership in the life insurance and financial services industry, based on six criteria including production, retention, and recruitment.

The company’s success is attributed to its robust in-house MDRT support programme, which fosters a culture of mentorship and knowledge sharing. Rom Lee, Chief Agency Officer at Prudential Singapore, highlighted the importance of this culture, stating, “We are pleased to celebrate our largest ever cohort of MDRT Culture of Excellence Awards winners. This speaks to Prudential Singapore’s strong MDRT culture of sharing.”

Amongst the awardees, five agency leaders have achieved the distinction for three consecutive years, with Bryan Phang, Financial Services Director, being the only three-time Diamond category awardee globally. Phang remarked, “Receiving the MDRT Culture of Excellence Awards was only possible with the hard work and dedication of our entire team.”

Prudential’s commitment to professional development is evident through its comprehensive training programmes, including the Financial Consultant Induction Programme and the High Net Worth Skill Up Series. With over 5,400 financial representatives, Prudential continues to invest in its workforce to maintain high standards of service and support for its customers.
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Savills Singapore has announced the sale of a portfolio of six prime HDB shophouses, collectively valued at $73m, offering a yield of over 4%. The properties are strategically located in three mature estates: Toa Payoh, Ang Mo Kio, and Tanjong Pagar, providing investors with a rare opportunity to acquire high-demand commercial assets.

The portfolio includes a ground-floor shophouse at 190 Toa Payoh Lorong 6, spanning 1,033 square feet, fully leased and generating significant footfall due to its proximity to the Toa Payoh MRT Station and Bus Interchange. In Ang Mo Kio, the shophouses at 702 and 705 Ang Mo Kio Avenue 8 offer a combined area of 5,684 square feet, featuring residential quarters on the upper floors and benefiting from ongoing rejuvenation plans in the area.

Tanjong Pagar Plaza hosts three individual ground-floor shophouses, ranging from 603 to 764 square feet, located at the entrance of the development and adjacent to NTUC Fairprice, ensuring strong visibility and foot traffic.

Nick Chan, Associate Director of Investment Sales & Capital Markets at Savills Singapore, highlighted the scarcity of such assets, stating, “With a total of 8,500 privately held HDB shophouses in Singapore, they are among the most tightly held commercial assets in Singapore. Each unit in the portfolio offers a gross yield of approximately 4%, with further upside potential through rental reversion or further subdivision of space to drive rental income.”

The properties are available for individual purchase or as a complete portfolio, with the sale conducted via private treaty.
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Tesla has unveiled its first V4 Supercharging station in Singapore, located at One Holland Village. This marks a significant expansion of Tesla’s Supercharging Network, which now includes 12 stations with a total of 37 stalls across the city-state. The V4 Superchargers, equipped with longer cables and capable of delivering up to 250 kW of power, promise a seamless charging experience for Tesla owners in Singapore and travellers from Malaysia.

The new V4 Superchargers can add up to 282 km of range to a Model 3 Long Range in just 15 minutes, making them one of the most efficient charging options available. Tesla’s pay-per-use Supercharging fee starts at $0.51 per kWh, positioning it as a cost-effective solution for electric vehicle owners in Singapore.

Tesla plans to further expand its Supercharging Network in 2025, with additional stalls at existing locations and four new stations in the South, East, and West regions. The company is also enhancing its Destination Chargers, which are conveniently located at popular malls, hotels, and attractions, offering free charging whilst users enjoy their activities.

The introduction of the ‘Plug and Charge’ system allows users to easily locate, navigate to, and monitor Superchargers via the Tesla App, with automatic payment processing. This innovation supports the freedom of travel and enhances the overall charging experience.

In addition to expanding its network in Singapore, Tesla is increasing charger coverage in Malaysia, facilitating seamless road trips from Singapore to Thailand. Currently, Tesla operates 26 Supercharging sites and 24 Destination Charging sites across Singapore and Malaysia.

To encourage electric vehicle adoption, Tesla offers incentives and rebates up to $48,300, with financing rates starting at 1.65% per annum. New Tesla owners in Singapore also receive a complimentary Tesla Wall Connector under the Home Charging Programme, ensuring a fully charged vehicle daily.
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The Global Pulse Confederation (GPC) will host Pulses 25, a major international event for the pulses industry, at the Fairmont Hotel in Singapore from 20 to 22 May 2025. The gathering will bring together over 700 industry leaders to discuss sustainable food futures and explore emerging market opportunities. Enterprise Singapore is the Title Sponsor, underscoring the nation’s role as a hub for food security and agri-trade.

Pulses 25 aims to set the global agenda for a resilient and sustainable food future. The event will feature panels on price trends, supply dynamics, and demand forecasts, providing participants with essential market intelligence. Additionally, the conference will highlight innovations in plant-based foods and the role of pulses in sustainable agriculture. “Pulses 25 is a convergence of ideas, innovation, and opportunity,” said Vijay Iyengar, President of the Global Pulses Confederation.

The event is supported by various stakeholders, including the Singapore Tourism Board, Singapore Airlines, OCBC, and DBS. It will also feature a stellar line-up of speakers, such as Murad Al Katib, President and CEO of AGT Food and Ingredients Inc., and Anuj Maheshwari, Managing Director of Temasek. Attendees will gain insights into key pulse categories and engage in discussions on innovation and technology.

Enterprise Singapore’s Assistant Managing Director, Lee Pak Sing, expressed enthusiasm about hosting the event, highlighting Singapore’s infrastructure and capabilities in alternative protein development and sustainable food solutions. Pulses 25 promises to be a strategic business opportunity for stakeholders across the pulses value chain.
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Reichle & DeMassari (RM), a Swiss developer of high-end infrastructure solutions, has unveiled its expanded ZOONA splice closure family, designed to accelerate the rollout of Fibre to the Home (FTTH) networks. The latest addition, the ZOONA STP12, boasts a capacity of 144 splices, facilitating the connection of hundreds of FTTH subscribers.

The ZOONA splice closures are engineered for straightforward installation, eliminating the need for extensive training or specialised personnel. Construction teams can easily install these closures in various settings, such as shafts, cabins, or masts, without requiring special tools. This simplicity is further enhanced by the preterminated Precon variants, which offer up to 18 preterminated cable connections, ideal for rapid network rollouts.

The modular design of the ZOONA closures allows for versatile applications, including loop splice and splitter configurations. This flexibility enables broadband providers to expand their networks with minimal upfront investment, adapting to different demand scenarios. Additionally, the closures meet IP68 protection standards, ensuring durability in harsh environments and safeguarding fibre optic connections against moisture and adverse weather.

RM’s solutions are integral to telecom networks, supporting the expansion of FTTH access networks with speed and flexibility. The company’s infrastructure solutions are utilised in various sectors, including smart cities, data centres, and green energy. With a presence in over 40 countries, RM continues to innovate in connection and distribution technology, contributing to sustainable communication and data transmission advancements.
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PLAUD.AI has unveiled its innovative wearable AI voice recorder, the PLAUD NotePin, in Singapore. Recently honoured with the Red Dot Design Award 2025, the NotePin is designed to enhance productivity for professionals, students, and creatives by capturing, transcribing, and summarising conversations efficiently.

The device, which is ultra-light and wearable, is already trusted by over 700,000 users globally. It features advanced AI capabilities such as Ask AI, Zapier integration, and an Autopilot template. Nathan Xu, CEO and co-founder of PLAUD.AI, stated, “The PLAUD NotePin empowers our users to stay ahead of the curve and helps them focus on what truly matters.”

Key features of the NotePin include a long-press recording function, high-definition audio capture, and a 40-day standby battery life. It also offers industry-leading encryption for data security, ensuring compliance with SOC 2 Type II and HIPAA standards.

The PLAUD NotePin is available in two variants: a bundle priced at $259, which includes accessories, and a single variant at $229. The bundle will be sold at selected retail outlets such as Challenger and Courts, whilst the single variant will be available online through platforms like Amazon and Lazada.

Designed to save users an estimated 260 hours per year and $11,629 in potential earnings, the NotePin is poised to meet the demands of various industries, from healthcare to education. Its seamless integration with the PLAUD app and web platform allows users to focus on high-value tasks whilst the AI handles routine note-taking.
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Singapore General Hospital (SGH), in collaboration with Lucence and the Diagnostics Development Hub (DxD Hub), has launched a study to validate a urine-based test for early detection of bladder, kidney, and prostate cancers. This initiative seeks to address the challenges posed by current screening methods, which are often invasive, costly, and require multiple clinic visits.

The one-year study will utilise Lucence’s proprietary technology, initially developed for blood samples, to identify cancer types from urine. This approach is expected to be more effective for urological cancers, which are connected to the urinary system. Associate Professor Kenneth Chen from SGH highlighted the potential of this method, stating, “A single, simple, non-invasive screening method like a urine test could lead to more proactive screening, especially for those at higher risk.”

The study aims to recruit 150 participants aged 40 and above, including 120 patients with early-stage cancers and 30 healthy volunteers. Participants will provide urine and blood samples for testing, with results compared to tissue samples from tumours.

Dr Tan Min-Han, CEO of Lucence, emphasised the potential impact, noting that the test could benefit over 1 million people in Singapore at risk of these cancers. DxD Hub will develop the urine extraction workflow to enhance the test’s effectiveness, aiming to streamline diagnostic pathways and improve patient outcomes.

Urological cancers are increasingly prevalent, with prostate cancer being the most common among Singaporean men. This study could pave the way for more accessible and efficient cancer screening methods, potentially transforming early detection and treatment strategies.
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The Urban Redevelopment Authority (URA) has initiated the tender for a site at Chuan Grove under the first half of 2025 Government Land Sales programme. This plot is expected to accommodate approximately 505 residential units, with the tender set to close on 4 September 2025. The site is strategically located near Lorong Chuan MRT station, providing excellent connectivity for future residents.

The area is surrounded by numerous educational institutions, including four primary schools within a 1 km radius, such as CHIJ Our Lady of Good Counsel and Kuo Chuan Presbyterian Primary School.

This proximity is likely to attract families with school-going children, OrangeTee said. Additionally, the Australian International School is nearby, offering potential rental income opportunities for investors. The adjacent NTP+ mall provides various dining and retail options, enhancing the site’s appeal.

This is the second site in the Lorong Chuan area to be released under the GLS programme in recent years, following a previous tender in December 2024. The earlier site, expected to yield 555 units, will close its tender in July 2025. The limited availability of new housing in the vicinity has led to significant demand, as evidenced by the successful launch of Chuan Park, where 76% of its 916 units were sold on the launch weekend.

Justin Quek, CEO of OrangeTee & Tie, noted the potential interest from developers due to the large pool of potential HDB upgraders from nearby areas like Serangoon and Bishan. He also highlighted the demand from landed home downgraders in the vicinity. “We expect between 3 to 6 bidders for this site, at a highest bid price of S$1,100 to S$1,200 psf ppr,” Quek stated.
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Huttons Asia’s CEO, Mark Yip, has highlighted the potential of the Chuan Grove site, the second Government Land Sales (GLS) site released in the past five months. Located just a five-minute walk from Lorong Chuan MRT station, the site is expected to draw interest due to its proximity to the Australian International School and St Gabriel’s Primary School, offering a pool of potential tenants for investors.

The Outside Central Region (OCR) currently has the lowest number of unsold units since the fourth quarter of 2022, with only 4,361 units available as of the first quarter of 2025. Given the annual average sales of 3,019 units in the OCR over the past five years, Yip believes the unsold supply can be absorbed within just over a year. In the Lorong Chuan area alone, around 700 units remain unsold, assuming the earlier Chuan Grove parcel is sold.

Despite global tariff uncertainties, Yip considers the Chuan Grove site a lower-risk investment due to the limited unsold units both locally and islandwide. He anticipates up to three bidders for the site, with a top bid ranging between $900 and $1,000 (£700 and £780) per square foot per plot ratio (psf ppr).

The strategic location and current market conditions suggest that the Chuan Grove site will attract significant interest from developers, potentially impacting the area’s property landscape in the near future.
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