Industry News

Standard Chartered has announced the appointment of Noelle Eder as Group Head of Technology and Operations, effective 26 May 2025, pending regulatory approval. Eder will report directly to Group Chief Executive Bill Winters and will be based in Singapore. Her appointment comes as the bank seeks to enhance its digital capabilities and streamline operations through its Fit for Growth programme.

Eder brings a wealth of experience from her previous role as Executive Vice President and Global Chief Information Officer at The Cigna Group, where she led digital, technology, data, and operations strategies. Her career also includes senior roles at Hilton Worldwide Holdings and Capital One Financial Corporation. Recognised as one of the top 50 leaders in technology by Forbes and listed in WomenTech network’s 100 Executive Women in Tech to Watch for 2025, Eder is well-regarded in the industry.

Bill Winters commented on the appointment, stating, “Noelle joins us as we intensify efforts to streamline and simplify our systems and processes whilst harnessing emerging technologies to further improve our service to our clients.” Eder expressed her enthusiasm, saying, “I am thrilled to join Standard Chartered, a truly global and diverse organisation, and to embrace the exciting challenge of advancing its digital transformation.”

This strategic appointment underscores Standard Chartered’s commitment to innovation and digital transformation, aiming to better serve its clients and sustain growth. As Eder steps into her new role, the bank anticipates significant advancements in its technology and operations sectors.
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Sheng Siong Group Ltd., one of Singapore’s largest supermarket chains, has announced a 7.1% increase in revenue for the first quarter of FY2025, reaching $403m. This growth was primarily fuelled by the opening of new stores since FY2024 and increased sales during the Hari Raya festive period. The group’s net profit also saw a 6.1% rise, amounting to $38.5m for the quarter ending 31 March 2025.

The company reported a gross profit increase of 10.2% to $122m, with a gross profit margin improvement of 0.9 percentage points to 30.3%. This was attributed to an enhanced sales mix that helped offset rising business costs. Sheng Siong opened two new stores in the first quarter and secured six additional locations, with results pending for four more tenders.

Chief Executive Officer Lim Hock Chee commented, “Despite a more uncertain start to 2025, the Group remained focused and delivered steady performance in the first quarter, reflecting our operational strength and solid fundamentals.”

Looking ahead, Sheng Siong is focusing on refining its sales mix and diversifying its supplier base to enhance supply chain resilience. The group is also investing in automation and AI technology to improve operational efficiency amidst rising labour costs. With Singapore’s economic outlook cautious due to external macroeconomic headwinds, Sheng Siong aims to maintain its value-for-money proposition, catering to consumers seeking quality essentials at affordable prices. The company plans to open the newly secured retail locations by Q3 FY2025, continuing its strategy of network expansion.
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CapitaLand Investment Limited (CLI) has announced its business updates for the first quarter of 2025, revealing a 3% year-on-year increase in fee income-related business to $281m. However, the real estate investment business saw a 6% decline, bringing revenue down to $242m, attributed to the deconsolidation of CapitaLand Ascott Trust. The company also highlighted its application for the listing of CapitaLand Commercial C-REIT, marking the first international-sponsored China REIT focused on retail properties in the People’s Republic of China.

The fund management sector showed resilience, with listed funds’ fee income-related revenue rising by 3% year-on-year. CLI’s private funds expanded their Korean Credit Programme, securing two loans for a data centre and a Grade A office development. Additionally, the SEA Logistics Fund invested in an industrial development in Vietnam’s Amata City Ha Long Industrial Park.

In lodging management, CLI reported a 5% year-on-year growth in Revenue per Available Unit, driven by the Ascott brand’s diversification into full-service hotels and branded residences. Commercial management also saw a 4% increase in fee-related earnings.

Despite the challenges, CLI maintains a strong balance sheet, with up to $7.4b available for future investments. The company continues to focus on strategic capital deployment across logistics, industrial, lodging, private credit, and data centres. Looking ahead, CLI aims to leverage its robust financial position to navigate market uncertainties and pursue growth opportunities.
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Softbiz Pharma, a prominent exporter of pharmaceutical, nutraceutical, and personal care products, has announced the launch of its new deodorant range in Singapore. The company aims to cater to the increasing demand for high-quality personal care items in the region. The new collection offers a variety of scents, including options such as Pepper, Tangerine, Lavender, and Musk, under the “Pulse” line, and other unique blends like Saffron and Oud in the “Shadow” line.

The deodorant range is designed to appeal to diverse consumer preferences, with additional offerings such as “Blaze” featuring Citrus and Amber, and “Ocean” with Lychee and Lotus. Softbiz Pharma is also providing private label options, allowing businesses to market these deodorants under their own brands, which could be a significant opportunity for local retailers looking to expand their product lines.

Tanuj Madaan, Vice-President of Growth at Softbiz Pharma, expressed enthusiasm about the potential collaborations this launch could foster. “We are excited to present our new range of deodorants, designed to meet the rising demand for quality personal care products in your market,” he stated.

The introduction of this deodorant range marks a strategic move by Softbiz Pharma to strengthen its presence in the Singaporean market. By offering private label options, the company is positioning itself as a flexible partner for local businesses. As the demand for personal care products continues to grow, Softbiz Pharma’s new offerings could play a pivotal role in meeting consumer needs and supporting business growth in the region.
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Asia Pacific Breweries Singapore (APBS), part of The HEINEKEN Company, has climbed to 2nd place on Singapore’s Best Employers 2025 list, as recognised by The Straits Times and Statista. The company has also maintained its Great Place to Work certification for the third consecutive year. APBS attributes its success to empowering employees to take initiative and make impactful changes within the workplace.

APBS has fostered a culture where employees are encouraged to bring the company’s values to life through various initiatives. These include sustainability projects like the “Race to Reduce” Ideathon, which led to eco-friendly improvements such as a returnable lunchbox system and water-saving taps. The company is also committed to supporting the United Nations’ Sustainable Development Goals.

In response to employee feedback, APBS has enhanced its workplace amenities, adding a new recreation space with facilities for badminton, table tennis, and wellness activities. This initiative was designed and championed by the employees themselves, reflecting the company’s commitment to prioritising staff wellbeing.

Mental health is another area of focus for APBS. The company has introduced initiatives such as Muay Thai classes and creative workshops to normalise mental health conversations. Additionally, a 24/7 on-demand support app has been launched in partnership with mental health experts to provide confidential care.

Shaun Ee, Cluster Head of People at The HEINEKEN Company, stated, “These workplace recognitions belong to our people, who consistently go above and beyond in their roles and look out for one another as a team.” As APBS continues to grow, its culture of trust and empowerment remains central to its operations, reinforcing its status as a top employer.
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PwC has announced a new brand positioning aimed at better reflecting its commitment to mobilising experience and technology to support its clients. This strategic shift was unveiled on 30 April by PwC Singapore, underscoring the firm’s dedication to aligning its services with the evolving needs of businesses in a rapidly changing global economy.

The new brand positioning is designed to showcase how PwC leverages both its extensive experience and cutting-edge technology to deliver value to clients. This move is part of a broader strategy to enhance client engagement and ensure that PwC remains at the forefront of innovation in the professional services sector.

In a statement, PwC highlighted the importance of this rebranding in reinforcing its role as a trusted partner for businesses navigating complex challenges. The firm emphasised that the new positioning reflects its ongoing efforts to integrate advanced technological solutions into its service offerings, thereby enabling clients to achieve their strategic objectives more effectively.

This announcement comes at a time when the global economy is undergoing significant transformation, with technology playing a pivotal role in reshaping industries. PwC’s focus on technology and client support is expected to position the firm as a leader in helping businesses adapt to these changes.

Looking ahead, PwC’s new brand positioning is likely to influence its future initiatives and collaborations, as the firm continues to prioritise innovation and client-centric solutions.
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GenInnov Pte. Ltd., a burgeoning fund management company based in Singapore, has officially launched its operations, focusing on transformative innovation investments across various sectors and geographies. This significant development marks a new chapter for the company as it seeks to shape the future of investment strategies.

The company’s Chief Operating Officer, Rahul Sinha, highlighted GenInnov’s commitment to not only investing in the future but also influencing the discourse surrounding it. “Our thought leadership on GenAI is gaining traction, and we believe it will resonate with your audience,” Sinha stated. This emphasis on thought leadership is evident in GenInnov’s recent publications, which explore the evolving landscape of technology and innovation.

GenInnov’s insights include articles such as “Beyond AI: The Rise of the Innovation Era,” “The End of Software’s Golden Age,” and “The Transformer Tsunami: How New Tech is Swallowing the Old.” These pieces reflect the company’s dedication to understanding and navigating the rapidly changing technological environment.

The launch of GenInnov’s fund management operations is particularly relevant for accredited investors and institutions, as the company aims to provide them with opportunities to engage with cutting-edge innovations. As GenInnov continues to expand its influence, it is poised to play a pivotal role in the investment landscape, fostering growth and innovation across diverse fields.
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Denodo has unveiled its latest offering, Denodo Platform 9.2, which aims to revolutionise data management for enterprises across Singapore and the Asia-Pacific region. The platform introduces a comprehensive data marketplace, enhanced support for Generative AI (GenAI) applications, and new self-service tools designed to streamline data product development.

The new data marketplace offers an e-commerce-style experience, allowing users to explore, discover, and access data with ease. This feature is supported by a semantic layer and AI-powered automation, providing insights into data usage across applications and analytical tools. Stewart Bond, research vice president at IDC, noted, “The new data marketplace functionality of Denodo Platform 9.2 makes access even more intuitive with a more user-friendly interface.”

Denodo Platform 9.2 also extends its capabilities for GenAI applications, crucial for organisations seeking to harness AI innovation. Shanmuga Sunthar Muniandy, Director of Architecture and Chief Evangelist at Denodo, highlighted the platform’s ability to “simplify data access, speed up GenAI application development, and strengthen collaboration across diverse markets.”

The platform’s enhancements include dynamic customisation of AI models, improved support for unstructured data, and a certification programme for GenAI developers. Barend Van Coller from Alexforbes expressed enthusiasm for the release, stating it “further empowers our teams to search, discover, and interact with data.”

Additionally, Denodo Platform 9.2 offers developers tools for agile data product development, including CI/CD workspace support and automated dependency analysis. Alberto Pan, Denodo’s chief technology officer, emphasised that these innovations will “put organisations at the forefront of data-driven transformation.”

For more information, visit Denodo’s website.
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The Singapore Department of Statistics has revealed that the services sector is bracing for a challenging second quarter in 2025, with only 8% of firms expressing optimism about business conditions. In contrast, 25% of firms foresee a decline, leading to a net weighted balance of 17% expecting a less favourable business outlook from April to September 2025.

The report highlights a cautious sentiment within the sector, which is crucial to Singapore’s economy. The services sector encompasses a wide range of industries, including finance, retail, and hospitality, making its performance a significant indicator of the country’s economic health.

The data suggests that businesses are preparing for potential headwinds in the coming months. This sentiment could impact investment decisions, hiring, and overall economic activity within the sector. The cautious outlook may be influenced by various factors, including global economic uncertainties and domestic challenges.

The Singapore Department of Statistics encourages stakeholders to stay informed through their enhanced SingStat Mobile App, which offers updated features for accessing statistical information. Additionally, the department is active on Instagram, providing bite-sized statistical updates to keep the public informed.

As the services sector navigates these anticipated challenges, businesses and policymakers alike will need to monitor developments closely to adapt strategies and mitigate potential impacts on the economy.
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Singapore enterprises are ramping up their investments in fraud detection, ID verification, and content moderation, according to a new report by TELUS Digital and Ryan Strategic Advisory. The report, titled “Safety in Numbers,” highlights that 43% of Singapore businesses intend to significantly increase their spending on fraud detection over the next year. This surge in investment comes as cybercrime cases in Singapore rose by 18% to 28,751 in the first half of 2024, as reported by the Singapore Police Force.

The study reveals that 54% of enterprises plan to somewhat increase their investment in ID verification, whilst 38% aim to enhance content moderation efforts. These moves are driven by the need to meet rising customer expectations and comply with tightening regulatory demands. Singapore’s leadership in AI-driven public services has set high standards, prompting private-sector businesses to follow suit.

Peter Ryan, President and Principal Analyst at Ryan Strategic Advisory, noted, “Trust, safety, and security have become essential to delivering great customer experience.” He added that businesses face pressure to manage budgets whilst adhering to evolving compliance standards, making it challenging to access the necessary technical talent.

The report also highlights the importance of human expertise in delivering secure customer experiences. Despite the growing adoption of automation, most organisations continue to rely on human-in-the-loop models to balance efficiency and compliance. For instance, 79% of organisations involve humans in ID verification processes, either through a combination of human and technology-based methods or entirely human-sourced services.

As enterprises navigate these challenges, the ability to scale trust, safety, and security capabilities effectively will be crucial. TELUS Digital’s Ljubiša Velikić emphasised the need for partners with deep expertise to help organisations strengthen their approach to trust, safety, and security in an evolving risk landscape.
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