Regional News

PixVerse, a leading AI video platform with over 100 million users globally, has announced a successful Series B funding round, raising $60 million.

The investment, spearheaded by Alibaba with participation from new investor Antler, is set to accelerate the worldwide adoption of PixVerse’s AI video creation tools, making high-quality video production more accessible to creators, businesses, and everyday users.

The company highlighted the significance of this funding as a testament to the potential of the AI video market and the trust it has garnered from its global community.

“Over the past two years, more than 100 million users have turned their imagination into video on PixVerse, inspiring us to keep pushing the boundaries of what’s possible,” the company said in a statement.

Recently, PixVerse launched its latest model, PixVerse V5, which improves motion quality, visual performance, and prompt accuracy whilst maintaining high generation speed. This model has been benchmarked first in image-to-video and second in text-to-video by Artificial Analysis.

The platform’s viral Venom Effect template, introduced with PixVerse V3, has already generated over one billion views on social media.

PixVerse continues to expand beyond entertainment into sectors such as advertising, e-commerce, and education. With its rapid growth and presence in over 175 countries, PixVerse is committed to making video creation accessible to all, aiming to reach billions who have yet to explore video as a medium for communication and storytelling.

CIMB Group Holdings Berhad has announced a significant leadership change in its Singapore operations. Victor Lee Meng Teck, who has served as CEO of Growth Markets and CEO of CIMB Singapore, has resigned to pursue other opportunities and will be on gardening leave immediately. He joined CIMB Group in January 2019 and took the helm of CIMB Singapore in January 2020.

In the interim, Novan Amirudin, Group CEO of CIMB Group, will oversee the Growth Markets as acting CEO. Andrew Boey, Chief Financial Officer of CIMB Singapore, will assume the role of Officer-in-Charge, managing day-to-day operations to ensure stability and continuity.

Amirudin expressed gratitude for Lee’s contributions, stating, “Victor has been instrumental in transforming and institutionalising CIMB Singapore for continued sustainable success, driven by CIMB Group’s EPICC culture.”

CIMB Group has activated its succession plan and will announce Lee’s successors in due course. This transition marks a pivotal moment for CIMB Singapore as it continues to focus on its strategic goals and maintain its growth trajectory in the region.

TOTM Technologies Limited has entered into a non-binding memorandum of understanding (MOU) with Agentis Intelligence Pte Ltd, a Singapore-based company specialising in data analytics and blockchain solutions. The MOU seeks to explore joint opportunities in developing secure and scalable digital identity ecosystems for large-scale public sector and enterprise digital transformation projects.

The partnership aims to leverage TOTM’s expertise in biometric and digital identity solutions alongside Agentis’ capabilities in blockchain technologies and decentralised infrastructure. This strategic collaboration is non-exclusive and will initially last for two years, with the possibility of renewal upon mutual agreement.

TOTM Technologies’ Board of Directors confirmed that none of its directors or substantial shareholders have any direct or indirect interest in Agentis or the MOU, aside from their shareholdings in the company. The company plans to make further announcements regarding material developments and any definitive agreements resulting from this MOU.

Shareholders and potential investors are advised to exercise caution when dealing with the company’s securities, as there is no certainty that definitive agreements will be executed. TOTM Technologies encourages stakeholders to seek professional advice if they have any doubts about their actions.

True Global Ventures 4 Plus Pte. Ltd. (TGV) has been granted a capital markets services (CMS) licence by the Monetary Authority of Singapore (MAS), enabling the firm to conduct regulated fund management activities beyond venture capital. This development positions TGV as a Licensed Fund Management Company (LFMC) for accredited investors, allowing it to manage regulated investment funds from Singapore.

The CMS licence allows TGV to diversify its fund management activities and introduce new investment strategies. These include managing continuation funds, which provide additional growth capital to high-performing portfolio companies and offer investors the option to continue participating in later-stage pre-IPO companies. This flexibility was previously constrained by TGV’s Venture Capital Fund Management (VCFM) licence.

Additionally, TGV plans to manage fund of funds, which will diversify investor portfolios by allocating to top-tier venture capital managers across various regions and sectors. The firm also intends to invest in public companies that align with its core themes of artificial intelligence and blockchain, thus offering investors opportunities in both private and public markets.

“We are honoured to receive the CMS licence from MAS, which reflects our commitment to meeting the highest regulatory compliance and governance standards,” stated TGV. This licence not only strengthens TGV’s position as a global venture capital leader but also underscores its dedication to robust governance, compliance, and investor protection.

Oiltek International Limited’s subsidiary, Oiltek Global Pte Ltd, has entered into a non-binding memorandum of understanding with SK SAF Sdn. Bhd. to collaborate on a sustainable aviation fuel (SAF) biorefinery and integrated pretreatment unit (PTU) hub in Sarawak, Malaysia. This initiative aligns with Sarawak’s Green Economy Transition Policy, focusing on converting palm oil mill effluent and decanter cake into high-value renewable fuels.

The project distinguishes itself by separating the PTU from the core biorefinery, creating a standalone profit centre. This design ensures feedstock certainty, generates early revenue, and mitigates risk exposure. Oiltek will serve as the PTU technology provider and an associate trading partner for feedstock and product markets.

Currently, the project is in its preliminary stage, with no definitive agreements or formal plans finalised. Shareholders are advised to exercise caution and avoid speculative actions regarding their investments. Further announcements will be made as the project progresses.

Singapore has achieved an impressive seventh place in the 2025 IMD World Talent Ranking, showcasing its strong position in global talent competitiveness. The ranking, which evaluates 69 economies, highlights Singapore’s strengths in readiness, placing it second in that category. However, the city-state ranks ninth in appeal and 30th in investment and development, indicating areas for potential improvement.

The IMD World Talent Ranking assesses countries based on their ability to develop, attract, and retain talent. Singapore’s high ranking in readiness reflects its robust educational system and skilled labour force, which meet the needs of a competitive economy. The appeal category underscores Singapore’s ability to attract foreign highly skilled personnel, thanks to its favourable business environment and high quality of life.

The Institute for Management Development (IMD), an independent academic institute, compiles the World Talent Ranking. IMD aims to support leaders and policymakers in navigating complexity and change, with a focus on sustainability and social inclusion.

LHN Limited has announced that its subsidiary, Coliwoo Holdings, has received a conditional eligibility-to-list letter from the Singapore Exchange Securities Trading Limited (SGX-ST) for its proposed listing on the Mainboard. The approval, granted on 9 September 2025, is contingent upon Coliwoo Holdings meeting specific SGX-ST requirements, including pre-quotation disclosures and document submissions.

The eligibility-to-list is valid for three months, subject to changes in SGX-ST policies. The SGX-ST reserves the right to amend or withdraw the eligibility at its discretion. Coliwoo Holdings’ listing is part of a strategic spin-off from LHN Limited, aimed at enhancing its market presence and operational focus.

The company stated that it will provide updates on the listing process as developments occur. The initial public offering (IPO) and listing completion depend on market conditions and compliance with SGX-ST conditions.

Shareholders and potential investors are advised to exercise caution and seek professional advice when dealing with LHN Limited’s securities. The listing aims to bolster Coliwoo Holdings’ growth trajectory, although the timeline for the IPO remains uncertain.

Bettr, a prominent provider of embedded financing under Ant International, has unveiled an AI-driven accounts receivable financing solution aimed at empowering small and medium-sized enterprises (SMEs) on global e-commerce platforms. As the year-end shopping season approaches, this solution offers vendors rapid and secure access to working capital, addressing the urgent need for flexible funding to manage increased inventory, marketing, and operational costs.

The innovative solution leverages advanced AI and machine learning to streamline the financing process. By analysing real-time business data such as invoices, sales history, and customer ratings, the AI system generates precise credit risk assessments. This allows Bettr to offer tailored loan solutions at competitive market rates, ensuring a seamless application experience for vendors.

Quan Yu, General Manager of Credit Services at Ant International, highlighted the transformative potential of this solution: “By integrating our alternative data-powered credit assessment and risk management directly into the e-commerce ecosystem, we can quickly approve and disburse funds. This is a game-changer for small and medium-sized businesses looking to scale quickly and meet demand.”

The platform also prioritises security, employing continuous risk management to monitor transactions in real time and prevent fraudulent activities. This dual focus on speed and security enables vendors to expand their businesses confidently, whilst Bettr mitigates potential risks.

Bettr’s initiative not only aims to enhance financial agility for SMEs but also seeks to advance financial inclusion globally by harnessing technology and collaborating with partners across sectors.

The Maritime and Port Authority of Singapore (MPA) has announced a series of corrective measures following the Auditor-General’s Office (AGO) report for the financial year 2024/25. The report highlighted issues in tender evaluation, payment verification, and the legal basis for certain fees and concessions. MPA is actively working to address these concerns to ensure compliance and prevent future occurrences.

The AGO identified a discrepancy in a tender evaluation where scores were influenced by documentation from a tenderer’s subsidiary, which was not specified in the submission. In response, MPA has revised its evaluation protocols to include capabilities of entities within a tenderer’s group, provided these are clearly declared in the tender documents.

Additionally, the AGO noted that payments for six operational service contracts were made without adequate verification of service delivery. MPA has since reviewed these contracts and confirmed service delivery through logs and supporting records. Measures have been implemented to ensure thorough checks and verification of documentation before future payments are approved.

The report also revealed that MPA has been collecting fees for marine dumping and monitoring services without formal legislative backing. These fees, which support the management of dumping activities, have been in place since MPA’s establishment in 1996. MPA is now taking steps to amend legislation to address this issue and legitimise past fees collected.

Furthermore, MPA has implemented port dues concessions without formal legislative prescription. These concessions aim to support Singapore’s maritime competitiveness and cater to public sector and community-related users. MPA is reviewing these schemes and will formalise them in law if they continue.

MPA reaffirms its commitment to good financial governance, fiscal accountability, and prudent management of public funds. The authority is dedicated to strengthening internal controls to uphold public trust and operational excellence.
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Internationally acclaimed artist Liu Bolin has unveiled three new artworks in Singapore as part of the Canvas of Hope initiative, a collaboration with the Rare Disorders Society Singapore (RDSS). Known for his “Invisible Man” performances, Bolin’s works aim to highlight the struggles of individuals living with rare disorders. The artworks will be showcased at The Rare Gallery, opening on 14 September 2025 at the Glass Dome, PlayPan Far East Square.

Bolin’s new pieces include “Grounded Journeys” at Jewel Changi Airport, “Dreams of Play” at Toa Payoh Dragon Playground, and “Magazine Rack – Singapore Chapter,” which marks both the 20th anniversary of his Invisible Man series and Singapore’s 60th year of independence. The exhibition will feature 13 pieces from his “Hiding in the City” series, alongside behind-the-scenes footage of the new works.

The initiative is designed to raise awareness and support for families affected by rare disorders. Bolin expressed his commitment to using art as a medium for healing and advocacy, stating, “Art has the power to heal, to lend a voice, and to connect.” Phua Wee Seng, Executive Director of RDSS, highlighted the shared belief in the power of love and support.

The official launch will include an artist walkthrough and the completion of the “Magazine Rack” piece. Proceeds from a charity gala on 28 March 2026 will support RDSS programmes, including therapy subsidies and caregiver assistance. Bolin will also deliver a guest lecture at NTU’s School of Art, Design and Media on 11 September 2025, discussing art’s role in society and its therapeutic potential.
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