Regional News

Marco Polo Marine, an integrated marine logistics group, has announced significant strategic developments aimed at enhancing its growth trajectory. The company has secured its first contract for the newly launched fourth dry dock, signed a three-year Master Service Agreement (MSA) with Cyan Renewables, and is planning a Taiwan listing for its subsidiary, PKRO. These initiatives are designed to capture increasing demand in both the traditional oil and gas sector and the burgeoning renewable energy market.

The newly launched Dry Dock 4 has already secured a ship repair contract valued at approximately $3.7m (S$5m), with the vessel expected to arrive at the Batam yard by the end of August 2025. This swift contract win underscores the robust demand for Marco Polo Marine’s repair and maintenance services, particularly as global fleets age and require more upkeep.

In a move to deepen its involvement in the renewable energy sector, Marco Polo Marine’s shipyard subsidiary has entered into a three-year MSA with Cyan Renewables. This agreement will see the company providing repair, maintenance, and conversion services for Cyan’s offshore wind vessel fleet, reinforcing its role in Asia’s energy transition.

Additionally, Marco Polo Marine’s 49%-owned subsidiary, PKRO, plans to pursue a Taiwan listing by the third quarter of 2026. The listing is expected to fund fleet expansion, including commissioning service operation vessels, to tap into the rapidly growing offshore wind markets in Taiwan, South Korea, and Japan.

These strategic moves are anticipated to drive sustained earnings growth for Marco Polo Marine, with the company maintaining a “buy” recommendation and raising its target price by 16% to $0.065 (S$0.088). The developments position the company to benefit from favourable sector conditions and increased demand for specialised vessels in the offshore wind industry.
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The Civil Aviation Authority of Singapore (CAAS) and the Latin American Civil Aviation Commission (LACAC) have signed a Memorandum of Understanding (MOU) to bolster their collaboration in civil aviation training. This agreement aims to support aviation growth and elevate international civil aviation standards across Latin America.

The MOU was signed by Ng Tee Chiou, Deputy Director-General of CAAS, and Ingrid Azucena Zelaya Florian, President of LACAC, during the CVII Meeting of the Extended Executive Committee of LACAC in Guatemala. This partnership, which began in 1998, has already seen CAAS award nearly 170 fellowships and train over 1,250 Latin American aviation professionals.

Under the new agreement, CAAS will provide 75 fellowships over the next three years for aviation professionals from LACAC’s 22 member states, including Brazil, Mexico, and Argentina. These fellowships will cover specialised courses at the Singapore Aviation Academy (SAA) in areas such as aviation safety and management. Additionally, CAAS will conduct three in-region training programmes tailored to regional needs.

The enhanced MOU introduces three initiatives to develop young aviation professionals and promote bilateral knowledge sharing. These include scholarships under the Singapore-ICAO Next Generation of Aviation Professionals Scholarship Programme, a Directors-General of Civil Aviation Programme, and high-level exchanges.

Ng Tee Chiou emphasised the importance of skilled manpower for the region’s growth, stating, “CAAS is providing more fellowships and in-region trainings to help support human talent development.” Ingrid Azucena Zelaya Florian added, “This agreement will allow us to continue strengthening our aeronautical technical capabilities in Latin America and the Caribbean.”
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John Elkovich has been appointed as the Chief Executive Officer of St. James’s Place (SJP) in Singapore, effective 1 September 2025. In his new role, Elkovich will spearhead the Singapore office’s efforts in market expansion, business development, and enhancing client services. He will report to Oliver Wickham, Partnership Director for Asia and the Middle East.

Elkovich joined SJP as Head of Partnership in September 2024 and served as Interim CEO of the Singapore office since April this year. His extensive career in financial services spans over three decades, covering wealth management, insurance, and private banking in both Singapore and Australia. He is recognised for his strategic leadership and ability to drive innovation and build strategic partnerships.

Oliver Wickham expressed confidence in Elkovich’s leadership, stating, “John’s proven leadership and deep experience in financial services will be instrumental in guiding our next phase of growth. Singapore continues to be a centre of financial advice excellence, and I’m excited to build on that strength—attracting more high-calibre professionals to St. James’s Place as demand for quality advice continues to rise.”

Elkovich commented on his appointment, saying, “I’m honoured to lead SJP’s Singapore office at this pivotal time. Our success is driven by world-class advisers, a strong client-first culture, and rising demand for cross-border expertise. As CEO, I’m focused on deepening that impact — by attracting top talent, fostering innovation, and ensuring we remain a trusted partner for clients.”

St. James’s Place, founded in the UK in 1991, is a leading financial advisory group with a significant presence in Asia since 2014. The company provides tailored financial advice to nearly one million clients globally.
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RHB has released a report titled “Market Strategy Positioning For S-REITs & High-Dividend Leaders,” which outlines a constructive yet selective approach to Singapore equities. The report indicates that the current economic environment, characterised by a benign inflation backdrop and anticipated cuts to the US Federal Funds Rate, is favourable for Singapore Real Estate Investment Trusts (S-REITs) and high-dividend equities.

The report suggests that the decline in the Singapore Overnight Rate Average (SORA) and 10-year yields will boost demand for S-REITs, particularly industrial and office REITs. It also highlights the potential for high-quality domestic income franchises in consumer staples, healthcare, and land transport sectors to benefit from regulator-supported initiatives aimed at increasing liquidity in small- and mid-cap stocks.

RHB maintains its 2025 GDP growth forecast for Singapore at 2%, with potential upside to 3%, driven by improved tariff clarity and a firmer risk appetite. However, the report advises caution due to uncertainties surrounding US-China trade policies and a potential slowdown in exports in the second half of 2025.

The report underscores the importance of prioritising high-quality, income-generating firms and suggests increased exposure to S-REITs and sustainable high-dividend equities. Analysts at RHB have identified top picks within the S-REIT sector, including AIMS APAC REIT, CapitaLand Ascendas REIT, and Keppel REIT, citing their potential for attractive returns.

In conclusion, RHB’s report provides a strategic framework for investors looking to capitalise on the current economic conditions in Singapore, with a focus on sectors poised for growth amidst declining interest rates.
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Digital Edge Singapore Holdings Pte Ltd has announced the appointment of Emmeline Tang as its new Chief Product Officer (CPO). With a robust background in the data centre industry, Tang will be responsible for steering the company’s product vision and accelerating innovation across its hyperscale and retail offerings. Her role will focus on delivering next-generation infrastructure solutions tailored for the AI era.

Tang joins Digital Edge from Microsoft, where she served as Director of Standards for Global Operations. Her career spans significant achievements, including restructuring operational standards for over 400 data centres and mitigating supply chain risks during COVID-19 disruptions. She has also been instrumental in scaling engineering solutions across eight new markets within a year.

John Freeman, CEO of Digital Edge, expressed enthusiasm about Tang’s appointment, stating, “Her deep technical expertise, operational rigour, and passion for innovation make her uniquely suited to lead our product organisation as we scale our platform to meet the explosive demands of AI and digital transformation.”

In her new role, Tang will oversee product strategy across the entire data centre lifecycle, from site selection and design standardisation to sustainability and customer experience. She will collaborate closely with go-to-market, engineering, and operations teams to ensure alignment with customer needs and business growth.

Tang, who holds an MBA from London Business School and is a Chartered Engineer with the Institution of Engineering and Technology UK, remarked, “We have a tremendous opportunity to deliver high-performance, sustainable infrastructure solutions that empower our customers in the AI age.”

Digital Edge, headquartered in Singapore, is a leading data centre platform in Asia, backed by global infrastructure investor Stonepeak. The company operates across nine countries in Asia Pacific, providing data centre and fibre services with over 11GW of secured IT power.
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MSIG Singapore has announced a strategic partnership with MSIG Speciality Marine to expand its marine insurance capabilities. This collaboration will allow MSIG Singapore to underwrite Protection and Indemnity (P&I) risks directly from its Singapore office, addressing the growing demand for comprehensive P&I solutions amidst evolving maritime risks.

The global marine and offshore energy insurance market is valued at approximately $39b, with Asia-Pacific contributing nearly 30% of this market. The region’s P&I segment alone is valued between $1 billion and $1.5b, with a projected growth of $200m by 2030, according to the International Union of Marine Insurance (IUMI).

The partnership aims to deliver a robust suite of marine insurance capabilities, focusing on P&I offerings. Mack Eng, CEO of MSIG Singapore, stated, “Our strategic collaboration with MSIG Speciality Marine marks a transformative step forward in redefining our marine insurance proposition.” Edwin Tan, Head of MSIG Speciality Marine Singapore, added, “This powerful synergy enables us to deliver fast, precise, and specialised service throughout Asia-Pacific.”

MSIG Singapore, a leading general insurer with over 100 years of local presence, is part of the MSAD Insurance Group, one of the largest general insurance groups globally. MSIG Speciality Marine operates as a Marine Managing General Agent, backed by approximately 30 risk carriers, and offers a specialised portfolio across nine core product lines.

This partnership positions MSIG Singapore to capitalise on Asia’s dynamic maritime expansion, reinforcing Singapore’s status as a premier regional hub for insurance and shipping.
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S&P Global Ratings has assigned a ‘BBB+’ long-term issue rating to a tier 2 subordinated corporate bond proposed by Fubon Life Singapore Pte. Ltd. The rating is underpinned by an unconditional and irrevocable subordinated guarantee from its parent company, Fubon Life Insurance Co. Ltd., based in Taiwan.

The guarantee ensures that Fubon Life will cover principal and interest payments if Fubon Life Singapore cannot meet its obligations. This assurance aligns the bond’s rating with other subordinated obligations issued by Fubon Life. The bond, which qualifies as tier 2 regulatory capital, will be consolidated under the parent company’s balance sheet, with no significant impact on Fubon Life’s financial structure.

The bond has a maturity of 10.25 years, featuring a call option after the 10th anniversary within a three-month window before maturity. Notably, the issuance lacks step-up or interest deferral terms. The proceeds are intended to bolster Fubon Life’s regulatory capital adequacy ratio. Any significant changes to the bond’s terms or amount could influence the rating.

This development highlights Fubon Life’s strategic financial management and commitment to maintaining robust capital adequacy, ensuring stability and confidence among investors.
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Lum Chang Creations Limited, a leading urban revitalisation specialist in Singapore, has announced a significant financial performance for the fiscal year ending 30 June 2025. The company reported a 93% increase in revenue, reaching S$113.6m, up from S$59.0m in FY2024. This growth was driven by ongoing and new projects. Net profit also saw a remarkable rise of 140%, totalling S$13.5m compared to S$5.6m in the previous year.

The company’s gross profit rose to S$22.4m, with a gross profit margin improvement from 18.1% to 19.7%. This was largely due to procurement savings. The net profit margin increased by 3.4 percentage points to 11.4%, reflecting Lum Chang Creations’ focus on operational efficiency.

The company maintains a strong order book of S$112.8m as of 30 June 2025, providing solid revenue visibility. Additionally, the board has proposed a dividend of 2.2 Singapore cents per share, representing a 53.7% payout ratio, subject to shareholder approval.

Lum Chang Creations is well-positioned to capitalise on opportunities from the Urban Redevelopment Authority’s masterplan, which promotes the adaptive reuse of heritage buildings. The company aims to leverage its expertise in conservation and restoration to meet rising demand in this sector.

Managing Director Lim Thiam Hooi stated, “Our strong financial performance in FY2025 is a testament to the dedication of our team and the trust our clients have placed in us.” The successful IPO has bolstered the company’s financial standing, enabling it to pursue new opportunities confidently.
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Singlife, a prominent financial services company in Singapore, has unveiled the Singlife Caregiver Support Pack, designed to alleviate the emotional and mental burdens faced by caregivers. This initiative, launched in partnership with Diabetes Singapore, Home Nursing Foundation, Singapore Cancer Society, and the Singapore National Stroke Association, aims to provide comprehensive support to 200 caregivers from 1 September to 31 December 2025, with the programme extending throughout 2026.

The Caregiver Support Pack offers several key benefits, including six one-hour clinical counselling sessions with licenced professionals, access to a personalised self-care platform with a 24/7 helpline, and a one-year Group Personal Accident Coverage with a payout of $11,000 (S$15,000) in case of accidental death or total and permanent disability. This initiative follows Singlife’s July 2025 white paper, which highlighted the significant emotional and economic toll of caregiving in Singapore.

Helen Shen, Group Head of Products at Singlife, emphasised the importance of supporting caregivers, stating, “As a homegrown company, we recognise that caregivers are the unsung heroes of our nation, often putting their own needs last.”

The programme also includes educational sessions and community outreach initiatives, with Singlife staff volunteering to support these efforts. The collaboration aims to raise awareness and provide essential resources to caregivers, ensuring they are not alone in their journey. This initiative underscores Singlife’s commitment to addressing the challenges of long-term care and supporting the wellbeing of caregivers in Singapore.
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Global Trade Review (GTR) has announced the return of GTR Asia 2025, set to take place in Singapore on 23 September 2025. The event, renowned as the premier platform for the Asia Pacific trade community, will host over 1,500 senior decision-makers from sectors including trade and supply chain finance, commodity finance, fintech, and treasury. This year’s programme promises dynamic formats to enhance audience engagement and dialogue.

The conference will feature the Tradetech Showcase, hosted by GTR Ventures, which will spotlight cutting-edge fintech innovations. Additionally, a new boardroom scenario session will focus on global trade security. Attendees can also look forward to in-depth discussions, fireside chats, and interactive presentations. The Asia Bank to Bank Forum, hosted by the Bankers Association for Finance and Trade, will offer high-level debates on the banking and finance landscape.

More than 100 expert speakers will address pressing issues such as global trade realignment, Asia’s strategic positioning in a multipolar economy, and the potential of digitalisation in trade finance. The event will also explore whether artificial intelligence can reinvigorate discussions around digital transformation.

Supported by leading financial institutions and regional trade bodies, GTR Asia 2025 offers unparalleled networking opportunities, with 50 exhibitors and eight hours dedicated to networking. Platinum sponsors include Deutsche Bank, SMBC, and Standard Chartered, with Gold Sponsors such as Barclays, Citi, and MUFG. Jeff Ando, Director of Content Production at GTR, highlighted the event’s role in addressing today’s challenges and opportunities in trade finance.
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