Industry News

DesignSingapore Council (Dsg) has unveiled its latest initiative, “Nation by Design,” as part of Singapore’s 60th independence anniversary celebrations. This campaign highlights the integral role of design in the nation’s development over the past six decades. A significant aspect of the launch is a three-year Memorandum of Understanding (MOU) with SBS Transit, a leading public transport operator in Singapore, to enhance the commuting experience through design.

The collaboration with SBS Transit will see the introduction of design elements across the rail network, developed in partnership with local designers. These enhancements aim to make daily commutes more engaging and enjoyable. Dawn Lim, Executive Director of Dsg, stated, “Singapore’s connectivity and infrastructure are living proof of how good design has improved lives.”

The “Nation by Design” campaign is the culmination of a three-year movement by Dsg, following previous initiatives “Better by Design” and “People of Design.” It underscores design as a core component of Singapore’s identity, influencing everything from public housing to digital services. The campaign also includes a project titled “60 on 60,” which gathers insights from 60 individuals across various sectors, including DBS CEO Tan Su Shan and National University of Singapore Professor Emeritus Chua Beng Huat.

Looking ahead, the public is invited to contribute their thoughts towards the Design Masterplan 2035, a strategic roadmap set to be unveiled in 2026. This plan will outline the future role of design in Singapore’s continued progress. The campaign video, developed by Kinetic Singapore, challenges viewers to consider the intentional design behind Singapore’s success.
“`

Singapore-based cloud provider CLDY has launched AlwaysOn Two-Factor Authentication (2FA) for all WordPress sites it hosts, aiming to bolster security amidst a surge in CMS-targeted cyberattacks. This new feature, which is preinstalled and fully configured, offers robust protection from the moment a site goes live, addressing the increasing threat landscape where WordPress powers over 43% of websites globally.

Dan Chen, Managing Director at CLDY, highlighted the ease of use of their solution: “We’ve taken that barrier away—our AlwaysOn 2FA is preinstalled and enforced out of the box so site admins don’t need to lift a finger.” This approach contrasts with self-installed plugins that require user configuration, which can lead to misconfigurations, particularly for small businesses or first-time site owners.

The 2FA implementation is part of CLDY’s comprehensive security stack, which includes free SSL certificates, a Web Application Firewall (WAF), email hosting with antispam filtering, malware scanning, and free daily backups. These features are included in all hosting plans at no extra cost, reinforcing CLDY’s commitment to an all-inclusive pricing model.

Despite these security enhancements, CLDY maintains its performance standards, offering a 1-second Time-To-First-Byte for 99.9% of hosted sites and a 99.9% uptime backed by a service-level credit guarantee. Chen emphasised, “Security should never be optional or left to chance. We’re raising the baseline of protection so that even non-technical users get enterprise-grade defence by default.”

CLDY’s initiative could set a new standard in the managed WordPress hosting space, ensuring that security is a default feature rather than an optional add-on.
“`

Bowmore has introduced its Sherry Oak Cask Series to Singapore, marking the first domestic availability of this acclaimed collection. The series, which includes 12, 15, and 18-Year-Old expressions, highlights Bowmore’s expertise in cask maturation and the influence of sherry-seasoned oak on its signature Islay style. Each whisky is matured in Oloroso and Pedro Ximénez sherry casks, enhancing the depth with notes of sweet spice, dried fruit, and nuttiness, balanced by Bowmore’s coastal smokiness.

The Sherry Oak Cask Series will be available from 15 July 2025 on the Suntory Global Spirits LazMall store, with prices starting at $120. This launch offers whisky enthusiasts in Singapore a rare chance to enjoy sherry oak-matured Islay whisky locally. Mark Tay, Southeast Asia Brand Ambassador at Bowmore, stated, “The Sherry Oak Series is a celebration of balance—between spirit and cask, tradition and innovation.”

To celebrate the launch, 67 Pall Mall Singapore will feature the series as its Flight of the Month, offering members a tasting experience paired with seasonal small bites for $84++. Full bottles will also be available for purchase at the club.

The Sherry Oak Cask 12 Years Old delivers a vibrant medley of vanilla caramel and red berries, whilst the 15 Years Old offers aromas of raisins and cocoa. The 18 Years Old, finished in Pedro Ximénez sherry casks, presents bold and complex flavours of dark chocolate and orange zest.

This launch not only enriches Singapore’s whisky scene but also provides collectors with an opportunity to explore Bowmore’s sophisticated offerings.
“`

Kaspersky researchers have identified a new Trojan spy, SparkKitty, which targets iOS and Android smartphones by sending images and device information to attackers. Embedded in apps related to cryptocurrency and gambling, as well as a trojanised TikTok app, SparkKitty has been distributed via the App Store, Google Play, and scam websites. The malware is believed to be aimed at stealing cryptocurrency assets, with users in Singapore and across Southeast Asia at risk.

SparkKitty is linked to the previously discovered SparkCat Trojan, which was the first of its kind on iOS to include an optical character recognition module capable of scanning image galleries for cryptocurrency wallet recovery phrases or passwords. This marks the second instance within a year that Kaspersky has found a Trojan stealer on the App Store.

The Trojan masquerades as legitimate apps, such as a crypto exchange app called 币coin on the App Store and a messenger app named SOEX on Google Play. Sergey Puzan, a malware expert at Kaspersky, explained that the malware was distributed through fake websites and special developer tools for corporate applications, embedding links to suspicious stores that only accept cryptocurrencies.

To mitigate the risk of infection, Kaspersky advises users to remove any infected applications, avoid storing sensitive information in their photo galleries, and use reliable cybersecurity software. Dmitry Kalinin, another Kaspersky expert, noted that the attackers are likely interested in digital assets, as many infected apps are crypto-related.

Kaspersky has alerted Google and Apple about the malicious apps, and a detailed report on the attack is available on Securelist.com. The discovery of SparkKitty underscores the ongoing threat of cyberattacks targeting digital assets in the region.
“`

Agora, a US-based real-time engagement technology provider, has announced a strategic partnership with Singapore’s WIZ.AI to introduce AI-powered customer engagement solutions. This collaboration, unveiled today, seeks to address the rising demand for scalable automation in customer service, enabling enterprises to manage interactions across multiple languages and regions efficiently.

The partnership combines Agora’s ultra-low-latency communication infrastructure with WIZ.AI’s scenario-driven voice AI technology. This integrated platform is designed to automate large volumes of customer interactions, supporting real-time, natural conversations in various local languages and dialects. WIZ.AI’s solutions are already utilised by major banks, insurers, and telecom companies across Southeast Asia.

According to Gartner, by 2029, agentic AI is expected to autonomously resolve 80% of customer service issues, potentially reducing operational costs by 30%. This highlights the market’s shift towards AI-driven customer engagement, a trend Agora and WIZ.AI aim to capitalise on with their new solution.

Tony Zhao, CEO and Co-founder of Agora, emphasised the partnership’s potential to enhance service levels whilst managing costs. “Our collaboration is about delivering AI agents that are reliable, multilingual, and capable of real-time communication even under challenging network conditions,” Zhao stated.

Jennifer Zhang, President and Co-founder of WIZ.AI, added that their combined technologies enable AI agents to understand context and adapt mid-conversation, providing consistent service across regions. The solution targets sectors such as financial services, telecommunications, and retail, where efficient management of large-scale customer interactions is crucial.

This partnership marks a significant step in the evolution of customer service automation, promising to reshape how global companies engage with their customers.
“`

Fintech startup Lana has successfully closed its first funding round, backed by Liminal, a venture creation group founded by Temasek and Twynam Investments. The Singapore-based platform is designed to address the pressing challenges faced by chief financial officers (CFOs) in the Asia-Pacific (APAC) region, including rising energy costs and impending carbon taxes, as the area shifts towards new energy models.

Founded by Vincent Choi, a fintech veteran, Lana is developing the first integrated platform in APAC that combines blended finance with advanced risk modelling. This initiative aims to expedite and reduce the cost of decarbonisation financing for corporations. “Energy costs have increased 20–100% across APAC markets, whilst carbon pricing mechanisms are set to impact exporters starting in 2026,” Choi stated. The platform seeks to provide faster access to financing, enabling corporations to fund their energy transformations and extend financing to their value chains.

Lana’s approach is to connect corporations with leading climate technologies from the UK and Europe, creating a multiplier effect that generates carbon credits and reduces overall transition costs. Sonny Vu, Chief Builder at Liminal, highlighted the importance of platforms that can effectively channel capital towards decarbonisation whilst maintaining commercial viability for sustainable development in Southeast Asia.

With regulatory pressures such as the EU’s Carbon Border Adjustment Mechanism starting in January 2026 and carbon pricing in five APAC markets from 2027, Lana is well-positioned to help corporations protect their margins and secure energy independence.
“`

Emirates, the world’s largest international airline, is celebrating 35 years of operations in Singapore, having transported over 10 million passengers between Singapore and Dubai since 1990. The airline, which began with a single daily flight, now operates four daily flights, making it a popular choice for travellers heading to destinations such as London, Paris, and Rome via Dubai. In the past year alone, over 800,000 passengers have flown between the two hubs.

The airline’s commitment to Singapore is evident in its recent initiatives, including the introduction of the Premium Economy cabin on the Singapore-Dubai route in June 2023. This cabin, offering enhanced comfort and space, has been well-received, with over 87,000 passengers choosing this option. Emirates’ Premium Economy has also garnered accolades, winning ‘Best Premium Economy Class’ at the 2024 Business Traveller Asia-Pacific Awards.

In addition to passenger services, Emirates plays a crucial role in cargo transport, moving an average of 300 tonnes weekly between Singapore and Dubai. The airline’s cargo includes pharmaceuticals, valuables, and fresh produce, highlighting the strong trade relationship between the two regions.

To commemorate its 35th anniversary, Emirates is offering special fares on bookings made until 30 June 2025, for travel through 30 November 2025. This gesture of appreciation underscores Emirates’ long-standing relationship with Singapore and its commitment to providing world-class service.
“`

SIA Engineering, UOL, Sheng Siong, Raffles Medical, and DFI Retail Group have emerged as the top performers in the FTSE ST Mid Cap Index for the first half of 2025. Despite their strong performance, the index recorded a 1.5% decline in total return, underperforming the FTSE Asia Pacific Mid Cap Index, which posted a 4.6% gain.

The FTSE ST Mid Cap Index, which includes nine non-STI companies such as Olam Group and ComfortDelGro, averaged a 3.2% total return by 25 June. Notably, SIA Engineering, Raffles Medical, and Sheng Siong experienced significant increases in trading turnover. Sheng Siong also boasted the highest return on equity (ROE) among the index constituents at 26.7%.

SIA Engineering reported a 13.8% rise in revenue to S$1,245.1 million and a 43.8% surge in net profit to S$139.6 million for FY24/25. The company attributed this growth to increased demand for Maintenance, Repair, and Overhaul (MRO) services as airlines expanded their networks. The company aims to expand across the Asia-Pacific region to meet rising MRO demand.

Sheng Siong’s revenue grew by 7.1% to S$403.0 million in its 1QFY25 Business Update, driven by new store openings and festive sales. The company plans to continue its expansion with additional store openings.

The FTSE ST Mid Cap Index maintains a market capitalisation of S$125 billion, with an average daily turnover of S$340 million in 2025. However, it faced a net institutional outflow of S$973 million, primarily from the S-REIT Sector, Yangzijiang Shipbuilding, and SATS. As the year progresses, market participants will be keen to see if these trends continue or if new leaders emerge within the index.
“`

A new report from Beazley, a leading specialist insurer, reveals that Singapore executives may be overconfident in their cyber security preparedness. The Risk & Resilience report, titled “Spotlight on Tech Transformation & Cyber Risk 2025,” highlights that 26% of Singapore executives now view cyber risk as their greatest threat, an increase from 24% in 2024. Despite this growing concern, 87% believe they are adequately prepared to tackle these risks, suggesting a possible disconnect between perception and reality.

The report underscores the importance of vigilance, as many organisations may not be as prepared as they believe. Teck Siong Ng, Regional Manager for Cyber Risks in Asia Pacific at Beazley, noted, “In an era of accelerating cyber risks, businesses across the APAC region need elevated cyber resilience.”

The study also found that 86% of executives plan to enhance their cyber security with third-party suppliers, and 40% intend to invest in cyber security improvements this year. This proactive approach is crucial as cyber threats continue to evolve, with AI-driven ransomware and hacktivism posing significant challenges.

Additionally, the report highlights the transformative potential of artificial intelligence, with 85% of Singapore executives agreeing that AI will positively impact their economic prospects. However, concerns about intellectual property and data privacy remain prevalent.

The findings suggest that whilst awareness of cyber threats is increasing, there is a need for sustained efforts to ensure genuine preparedness and resilience against the complex cyber landscape.
“`

Nasdaq has announced a significant advancement in digital asset infrastructure by partnering with Singapore’s QCP Primrose Capital Management and Digital Asset. This collaboration integrates blockchain-based technology with Nasdaq Calypso, facilitating end-to-end margin and collateral workflows on the Canton Network. The initiative aims to enhance collateral mobility across all asset classes for institutional market participants.

Nasdaq Calypso, a leading technology platform, is designed to manage risk, margin, and collateral needs seamlessly. The partnership will expand its capabilities to support automated, 24/7 margin and collateral management across a wide range of assets, including crypto derivatives and over-the-counter derivatives. This move is seen as a step towards maturing and scaling next-generation digital asset infrastructure.

Melvin Deng, CEO of QCP, highlighted the significance of this development, stating, “Partnering with a global technology leader like Nasdaq is a testament to our commitment to building the next generation of institutional-grade market infrastructure.” He emphasised the paradigm shift in capital efficiency brought about by automating collateral management on-chain.

Yuval Rooz, Co-Founder and CEO of Digital Asset, noted that the integration enhances institutional workflows by automating margin and collateral processes on-chain, providing real-time efficiency and control. Linus Ong, Chief Investment Officer at Primrose Capital Management, added that this integration aligns portfolio management with institutional-grade on-chain infrastructure.

Nasdaq’s Head of Marketplace Technology, Magnus Haglind, remarked on the convergence of capital market infrastructure and the digital asset ecosystem, highlighting the need for improved real-time risk management. Nasdaq plans to advance its digital asset capabilities, supporting institutional adoption and driving resilience across the market.
“`