Industry News

The Elections Department has announced that all candidates from the General Election 2025 have submitted their election expenses and declarations by the 16 June 2025 deadline. These submissions, mandated under the Parliamentary Elections Act 1954, ensure transparency and accountability in election financing. The public can now inspect these documents online via the Elections Department’s website for a period of six months.

The requirement for candidates and their election agents to submit detailed returns and declarations within 31 days of the election results—published on 16 May 2025—aims to maintain the integrity of the electoral process. The documents are accessible through the Elections Department’s digital service, which requires a Singpass login for verification.

This initiative underscores the commitment to transparency in the electoral process, allowing the public to scrutinise the financial conduct of candidates. The availability of these records online marks a significant step in promoting open governance and public trust in the electoral system.

The inspection period will last until December 2025, providing ample time for interested parties to review the financial disclosures. This move is part of broader efforts to enhance public confidence in the democratic process by ensuring that election financing is conducted openly and responsibly.
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Barramundi Group Ltd. has announced that it has applied to the court for approval of its proposed scheme of arrangement following a successful vote solicitation from its creditors. The company, listed on Euronext, had solicited votes from its creditors by 11 June 2025, with the results showing strong support for the restructuring plan.

The vote solicitation process revealed that out of 10 unsecured creditors, seven submitted their Proof of Debt Forms by the deadline. Of these, five creditors submitted their voting forms, whilst two did not, resulting in a waiver of their voting rights. Two additional creditors submitted their forms after the deadline, allowing them to receive distributions under the scheme but not to vote.

The results showed that the secured creditor voted unanimously in favour, with a total value of $7,500,000 (SGD 10,206,500.17). Among unsecured creditors, 99.28% in value and 80% in number voted in favour, with only one creditor opposing. The related party creditors’ votes were discounted entirely.

Following this outcome, Barramundi Group has applied to the court under the Insolvency, Restructuring and Dissolution Act 2018 for approval of the scheme and an interim extension of the Moratorium Order. The application has been assigned case number HC/OA 647/2025, although a hearing date has yet to be set.

This development marks a significant step in Barramundi Group’s efforts to restructure its financial obligations and stabilise its operations. The court’s decision will be pivotal in determining the company’s future course.
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SGX-listed Stoneweg Europe Stapled Trust (SERT) has announced its first investment in the Stoneweg Icona Data-Centre Fund, marking a strategic move into Europe’s burgeoning data centre sector. This investment, whilst neutral in terms of distribution per unit (DPU), is expected to enhance the trust’s net asset value and provide significant inorganic growth opportunities. The move aligns with the trust’s growth strategy and showcases the value-add of its new sponsors.

The European Central Bank’s current trajectory towards aggressive rate cuts is anticipated to narrow SERT’s high trading discount, currently at a price-to-book value of 0.76 times. Analyst Vijay Natarajan has maintained a “BUY” recommendation for SERT, with a target price of EUR1.90, suggesting a potential upside of 22% and an approximate yield of 9%.

This strategic investment comes at a time when the demand for data centres in Europe is rapidly increasing, driven by the digital transformation across industries. By participating in the early development stages of this sector, SERT positions itself to capitalise on the growing need for data infrastructure.

The trust’s decision to invest in the data centre fund reflects its commitment to diversifying its portfolio and enhancing its growth prospects. As the European data centre market continues to expand, SERT’s involvement is expected to bolster its financial performance and shareholder value. Looking ahead, the trust’s strategic alignment with market trends could further solidify its position in the European real estate investment landscape.
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Denodo, a leader in data management, has appointed Richard Jones as Vice President and General Manager for Asia Pacific and Japan (APJ). Based in Singapore, Jones will spearhead the company’s strategic initiatives and operational execution across the region, focusing on expanding Denodo’s presence and enhancing customer success in the rapidly evolving data-driven enterprise landscape.

The Asia-Pacific region is experiencing a significant data transformation, driven by the rapid growth of AI technologies and intelligent agents. As organisations modernise their data strategies, the demand for agile, intelligent platforms is increasing. Jones’ appointment underscores Denodo’s commitment to positioning APAC as a global data powerhouse. The Denodo Platform is designed to empower enterprises by delivering real-time, trusted data efficiently, outperforming traditional data architectures.

With over 20 years of senior executive experience, Jones has held leadership roles at Dataiku, Automation Anywhere, Cloudera, and Informatica. His expertise in enterprise technology and digital transformation is expected to be pivotal in Denodo’s growth strategy. “In the age of AI, clarity is the new currency,” Jones stated. “It’s about designing architecture that shapes, connects, and gives data business relevance.”

Jones will focus on market share growth, client relationship enhancement, and ecosystem development. Denodo’s CEO, Ángel Viña, expressed enthusiasm for Jones’ appointment, highlighting his potential to drive strategic initiatives and expand Denodo’s footprint in the dynamic region. As the data landscape evolves, Jones’ leadership is anticipated to help enterprises across APAC harness the full potential of their data, delivering insights that drive business success.
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Institutional investors and wealth managers are anticipating a significant boom in the stablecoin market, with projections indicating a substantial increase in both market capitalisation and transaction volumes. According to a global study by CrossLedger Capital, a regulated credit fund, 85% of investors expect the stablecoin market cap to surpass $3 trillion within five years, a stark rise from $200 billion at the end of last year.

The research, which surveyed investors from 13 countries including the US, UK, and Singapore, highlights that over $27 trillion in transactions were processed through stablecoins last year—tripling the previous year’s figures. A notable 78% of respondents believe this will reach $100 trillion within two years, with 49% predicting the $50 trillion mark will be achieved this year.

CrossLedger Capital’s findings suggest that stablecoins will play a crucial role in decentralised finance (DeFI), with 98% of investors agreeing they provide the necessary stability and liquidity. However, concerns remain about the risks associated with stablecoins, particularly their reliance on reserves such as precious metals or fiat currencies. Regulatory uncertainty and potential instability in the US dollar are also seen as significant risks.

Graham Cooke, CEO and Founder at Brava, commented on the findings, stating, “Institutional investors and wealth managers worldwide are well aware of the stablecoin growth story and expect it to accelerate in the near term with market capitalisation and value of transactions expanding rapidly.”

As the stablecoin sector continues to evolve, the focus remains on its broader applications and the associated risks, which investors are keenly aware of.
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The June 2025 Ericsson Mobility Report reveals that 5G subscriptions in Southeast Asia and Oceania are projected to reach 630 million by 2030, accounting for nearly half of the region’s mobile subscriptions. This growth positions Singapore as a frontrunner in monetising 5G experiences, transitioning from proof-of-concept to commercial consumer offerings.

The report underscores the increasing appeal of Fixed Wireless Access (FWA) among communications service providers (CSPs) globally, with more than half of them now offering speed-based monetisation benefits enhanced by 5G. This trend is particularly pronounced in North America, Europe, and the Middle East. FWA is expected to account for over 35% of new fixed broadband connections, with a projected increase to 350 million by 2030.

Globally, 5G subscriptions are forecast to reach 2.9 billion by the end of 2025, representing about one-third of all mobile subscriptions. By 2030, this number is expected to rise to 6.3 billion. The report also indicates that 5G networks handled 35% of global mobile traffic by the end of 2024, with expectations to reach 80% by 2030.

Erik Ekudden, Ericsson’s Senior Vice President and Chief Technology Officer, stated, “We are at an inflection point, where 5G and the ecosystem are set to unleash a wave of innovation.” He emphasised the importance of deploying 5G standalone networks to unlock new business growth opportunities.

In Singapore, service providers are focusing on differentiated connectivity to enhance user experiences, particularly for AI agents and other applications. Daniel Ode, Head of Ericsson Singapore, Philippines, and Brunei, noted, “Service providers are increasingly unlocking the true value of 5G by introducing innovative services.”

The report highlights the potential of 5G Standalone and 5G Advanced to create monetisation opportunities for CSPs globally, focusing on value delivery rather than data volume.
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Australia’s latest investment mission to Singapore and Malaysia is underway, featuring 16 leading Australian companies. Co-led by Shayne Elliott, Australia’s Business Champion to Singapore, and Tony Lombardo, Business Champion for Malaysia, the mission aims to explore the burgeoning economic opportunities in Southeast Asia. This initiative follows the Albanese Government’s pledge to send five trade missions to priority markets this year.

The mission provides delegates with firsthand insights into Singapore’s status as a regional industrial and investment hub and Malaysia’s emergence as a key industrial and trade gateway. The engagement is part of Australia’s broader Southeast Asia Economic Strategy to 2040, which includes a $2 billion Southeast Asia Investment Financing Facility and the deployment of dedicated Investment Deal Teams.

Last year, Australian businesses supported by Austrade achieved over $1 billion in trade outcomes across Southeast Asia, marking a 45% increase from previous years. This growth highlights the region’s significance for Australian exporters and investors. “When Australian businesses grow their footprint in Southeast Asia, the benefits flow back home creating jobs, opening markets, and strengthening our economy,” stated the Australian High Commission in Malaysia.

The mission underscores Australia’s commitment to deepening economic ties with Southeast Asia, promising further collaboration and mutual growth. As the region continues to expand economically, Australian companies are poised to capitalise on new opportunities, reinforcing their presence and influence in these vital markets.
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Singapore-based fintech company ROSHI has released a comprehensive report on credit card debt across Southeast Asia, revealing significant disparities in how consumers manage high-interest unsecured debt. The report, titled “Credit Card Debt in ASEAN and Beyond 2025,” highlights that Singaporean cardholders have one of the highest average credit card balances in the region, at S$5,335, which is 86% of the average monthly income. Despite this, ROSHI’s analysis indicates that Singaporeans use credit cards strategically, benefiting from cashback and point rewards due to their strong repayment habits and access to advanced financial infrastructure.

In stark contrast, the report shows that in the Philippines, the average credit card balance is S$2,092, with an average monthly income of just S$492. This results in a debt-to-income ratio exceeding 425%, underscoring the financial vulnerability faced by consumers in emerging markets with limited access to affordable credit solutions. ROSHI CEO Amir Nada commented, “Whilst Singaporeans are carrying high card balances, they tend to use credit more strategically compared to some of their regional neighbours.”

The report also examines broader macroeconomic trends such as inflation, interest rates, and digital financial adoption, providing context to the credit card debt dynamics across the ASEAN region. ROSHI remains dedicated to offering transparent, data-led insights to aid smarter financial decisions for individuals in Singapore and Southeast Asia. The full report is available on ROSHI’s website.
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Amazon Web Services (AWS) has announced the opening of its first Innovation Hub in Asia Pacific, located in Singapore, alongside the launch of the AI Springboard initiative. The Innovation Hub, a multi-million-dollar facility, aims to accelerate digital and AI transformation for organisations across the region. The AI Springboard initiative, in collaboration with Digital Industry Singapore (DISG), seeks to empower 300 Singapore-based enterprises to scale AI across their operations within the next year.

The Innovation Hub will host over 1,000 C-Suite leaders and 200 students annually, offering an immersive experience with AWS and Amazon technologies. Jaime Vallés, Vice President of AWS Asia Pacific & Japan, stated, “The AWS Innovation Hub empowers our customers to convert big ideas into real business outcomes by combining our comprehensive cloud and AI technology.”

The AI Springboard programme provides enterprises with up to $438,000 (S$600,000) in cloud credits and training, including $255,000 (S$350,000) in dedicated AI Springboard credits. Additional credits are available through AWS support programmes, such as the AWS Migration Acceleration Programme and AWS Lift. Furthermore, the Singapore Government will support 70% of consultancy costs, capped at $76,650 (S$105,000) per enterprise.

The Hub features cutting-edge technology, including an AI-powered farm-to-table system and a mini bike manufacturing line, showcasing AWS’s commitment to addressing business challenges in the region. The initiatives are part of AWS’s broader investment strategy, which includes a $9 billion commitment to cloud infrastructure in Singapore by 2028.
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LMS Compliance Ltd, a Singapore-listed company, is making waves in the environmental, social, and governance (ESG) sector by transitioning from traditional lab tests to advanced digital dashboards. Under the leadership of its technologist CEO, the firm is establishing itself as a regional powerhouse by converting invisible risks into verifiable trust, thereby enhancing safety and sustainability credentials for businesses.

The company’s innovative approach is crucial as businesses increasingly face scrutiny over their ESG practices. By providing digital tools that offer transparency and accountability, LMS Compliance is helping companies demonstrate their commitment to sustainable practices. This transformation is particularly significant in a time when stakeholders demand more rigorous proof of ESG compliance.

The CEO of LMS Compliance emphasised the importance of this shift, stating, “From lab tests to digital dashboards, we are transforming how companies prove safety and sustainability.” This highlights the company’s dedication to leveraging technology to meet the evolving needs of the market.

As LMS Compliance continues to expand its influence in the ESG sector, its digital solutions are expected to set new standards for how companies manage and report their sustainability efforts. This development not only positions LMS Compliance as a leader in the field but also paves the way for more companies to adopt similar practices, potentially leading to a more sustainable future.
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