Regional News

The International Centre for Settlement of Investment Disputes (ICSID) is set to open its first branch outside its Washington, DC headquarters in Singapore. This new office, located at the World Bank Group Singapore headquarters at 10 Marina Boulevard, will administer cases, provide training, and enhance interactions with government officials, law practitioners, and organisations in Singapore and the surrounding region.

The establishment of the ICSID branch in Singapore is a significant development in the field of international investment dispute resolution. It reflects the increasing importance of Singapore as a hub for legal and financial services in Asia. The office aims to bolster the capacity-building efforts and provide more accessible services to stakeholders in the region.

The decision to open a branch in Singapore underscores the city’s strategic position in the global legal landscape. By situating the office in Singapore, ICSID aims to facilitate greater engagement with regional stakeholders and enhance the efficiency of its operations in Asia. The office will also maintain satellite premises at Maxwell Chamber Suites, further expanding its reach and accessibility.

This move is expected to strengthen Singapore’s reputation as a leading centre for international arbitration and dispute resolution, offering new opportunities for collaboration and growth in the legal sector. As the office becomes operational, it will likely attract more international cases to Singapore, reinforcing its status as a key player in the global legal arena.
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The Singapore Department of Statistics has reported a mixed performance in its latest price indices for July 2025. The Import Price Index rose by 0.5% compared to June 2025, whilst the Export Price Index, Singapore Manufactured Products Price Index, and Domestic Supply Price Index each fell by 0.5%, 0.9%, and 0.5% respectively. Excluding oil, the declines were more pronounced, with the Export, Singapore Manufactured Products, and Domestic Supply Price indices dropping by 0.8%, 1.3%, and 1.1% respectively, whilst the Import Price Index saw a smaller rise of 0.3%.

These indices are crucial as they reflect the cost changes in goods that Singapore imports and exports, influencing trade balances and economic planning. The rise in import prices suggests increased costs for goods entering the country, which could impact consumer prices and inflation. Conversely, the decline in export prices may affect the competitiveness of Singaporean goods in the global market.

Detailed statistics are available in the Monthly Import and Export Price Indices and the Monthly Singapore Manufactured Products and Domestic Supply Price Indices, accessible via the SingStat Table Builder. The Department has also enhanced its SingStat Mobile App with new features, encouraging users to update or download the app for the latest statistical insights. For more updates, the Department invites the public to follow their Instagram account, @singstat_dos, for bite-sized statistical information.
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Google Cloud has announced a series of innovations to bolster Singapore’s AI ambitions, revealed at the “AI Asia: Building Beyond Borders” conference. The tech giant introduced expanded data residency guarantees for its enterprise AI services, enabling organisations in Singapore to innovate more freely within the public cloud. This move is set to empower both public and private sectors, including GovTech Singapore, which will utilise these capabilities for AI-driven applications on its Government on Commercial Cloud platform.

The announcement also highlighted the general availability of Gemini on Google Distributed Cloud (GDC), allowing organisations to harness the power of Gemini models whilst maintaining control over sensitive data in their own data centres. This development is particularly significant for public sector agencies like the Centre for Strategic Infocomm Technologies, GovTech Singapore, and the Home Team Science and Technology Agency, which will be among the first globally to access Gemini on GDC air-gapped.

In addition to these technological advancements, Google Cloud has expanded its AI Cloud Takeoff programme under the Singapore Government’s Enterprise Compute Initiative. This expansion aims to help more companies scale globally. Leading Singapore enterprises such as DBS Bank, FairPrice Group, and Grab are already leveraging Google Cloud’s AI platform services to enhance customer service and productivity.

Thomas Kurian, CEO of Google Cloud, stated, “By bringing Gemini everywhere… we are unleashing a wave of innovation for both public sector organisations and businesses across industries.” This initiative underscores Singapore’s role as a launchpad for AI in Asia, promising new economic opportunities and transformative potential.
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The SG 100 Women in Tech (SG100WIT) list for 2025 was revealed at the Tech3 Forum by Josephine Teo, Minister for Digital Development and Information, celebrating women driving innovation in Singapore’s digital economy. Organised by the Singapore Computer Society (SCS) and supported by the Infocomm Media Development Authority (IMDA), the initiative recognises 100 outstanding women professionals and 25 young talents under the Girls in Tech category, acknowledging female students aged 13 to 35 who are making a difference in their communities through technology.

This year, SG100WIT received 635 nominations, including a record 110 for the Girls in Tech category, marking the highest since its inception in 2021. This surge reflects a growing interest among young women in technology careers, aligning with SG100WIT’s mission to inspire future STEM leaders. The honourees include leaders in AI, cybersecurity, and technology innovation, contributing to sectors such as law, healthcare, and space tech, showcasing Singapore’s robust pipeline of female tech talent.

Tan Lee Chew, President of Women in Tech Chapter at SCS, stated, “SG100WIT is a celebration of women who are boldly shaping what’s next, not just through innovation, but through purpose.” Dorcas Tan, Chairperson of SG Women in Tech, added, “The achievements of this year’s honourees highlight the tremendous progress women leaders are making in our tech landscape.”

As Singapore celebrates these achievements, the focus remains on nurturing the next generation of female tech leaders, ensuring a diverse and inclusive digital future.
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Hun Ming Kwang, the founder of Singapore-based InnerWork Circle, has been awarded the Excellence in Professional Coaching accolade at the Ignite Global Awards 2025. The prestigious ceremony, held in Bangkok on 16 August, celebrated leading figures in coaching and personal development worldwide.

Ignite Global is renowned for promoting professional coaching and leadership excellence, recognising individuals who set high standards across various industries and communities. Hun Ming Kwang, an internationally recognised inner work specialist and life coach, is celebrated for his contributions to inner development and leadership transformation. He has authored five books, including four on mental health published by Penguin Random House SEA, and has collaborated with organisations globally to help navigate complexity and change.

Under his leadership, InnerWork Circle has partnered with corporations, institutions, and communities to enhance organisational culture, guide leadership transitions, and address systemic challenges. The practice employs Processwork Psychology, integrating systemic, somatic, and transpersonal methods to equip leaders and organisations to manage complexity effectively.

“This recognition is not just about personal achievement but about raising the standards of coaching and leadership globally,” said Hun Ming Kwang. “My mission is to help leaders and communities navigate complexity with clarity and to create change that endures.”

Looking forward, InnerWork Circle plans to expand its programmes and initiatives in Singapore and the region, aiming to strengthen leadership capacity and build resilient organisational cultures. For more information, visit InnerWork Circle’s website.
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AIMS APAC REIT Management Limited, the manager of AIMS APAC REIT, has announced the acquisition of the Framework Building in Singapore for approximately $41.50m (S$56.65m). The property, located at 2 Aljunied Avenue 1, is strategically positioned near the Paya Lebar commercial hub and offers an attractive net property income yield of 8.1%. This acquisition is expected to enhance the distribution per unit by 2.5% for unitholders, based on full debt funding.

The Framework Building, which is 97% occupied, is anchored by Framework Building Products Pte Ltd and boasts a weighted average lease expiry of 4.1 years. The property’s flexible configurations and high power capacity make it ideal for high-spec industrial users, particularly in the healthcare, life sciences, and advanced manufacturing sectors. Its proximity to major transport links, including the Paya Lebar MRT Interchange, adds to its appeal.

Russell Ng, CEO of the Manager, stated, “The proposed acquisition of the Framework Building is a strategic addition to our portfolio and reinforces AA REIT’s position as a disciplined, long-term investor in quality industrial assets.” He highlighted the property’s potential for future asset enhancement initiatives and its contribution to the resilience and growth of AA REIT’s portfolio.

Chairman George Wang emphasised that the acquisition aligns with AA REIT’s strategy of acquiring high-quality, income-generating assets. The move is set to increase AA REIT’s industrial exposure from 20.6% to 22.7%, whilst also boosting portfolio occupancy and diversification.

This acquisition underscores AA REIT’s commitment to capturing growth opportunities in its core markets of Singapore and Australia, aiming to deliver sustainable long-term returns for its unitholders.
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AIA Singapore has announced a strategic partnership with Singapore Airlines Academy to launch a bespoke talent development programme aimed at enhancing customer experience (CX) capabilities. This initiative aligns with Singapore’s national agenda on lifelong learning and aims to set a new industry benchmark in the life insurance sector.

The collaboration will see the development of a series of workshops designed to transform customer experience culture at AIA Singapore. Each workshop will accommodate 20 to 25 participants, fostering an interactive learning environment. The programme focuses on shifting mindsets and enhancing the ability to create exceptional customer interactions.

Wong Sze Keed, CEO of AIA Singapore, stated, “At the heart of our customer-centric philosophy, we believe world-class customer experience means anticipating and exceeding expectations, not just meeting them.” This partnership aims to integrate Singapore Airlines’ iconic service standards with AIA’s customer-first approach.

The programme comprises two key workshops: Customer Experience Transformation and Customer Experience Excellence. The first workshop focuses on changing mindsets and understanding the emotional impact of interactions, whilst the second equips participants with practical techniques for handling real-world service interactions.

This initiative is part of AIA Singapore’s broader commitment to customer centricity, which includes simplifying policy documents and enhancing digital platforms. By embedding continuous development into its operations, AIA Singapore aims to maintain its leadership in the industry and reinforce its customer-first philosophy.
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In a groundbreaking study by Agility Research & Strategy, HSBC has emerged as the most trusted banking and insurance brand among Singapore’s high-net-worth (HNW) and ultra-high-net-worth (UHNW) individuals in 2025. The WealthLens Singapore 2025 report, published by AFFLUENTIAL, highlights the financial institutions that the country’s elite rely on to manage and grow their wealth.

HSBC secured the top spot in the banking category with a brand affinity score of 90 out of 100, praised for its global strength, wealth-management expertise, and financial stability. Following closely, the Bank of Singapore ranked second with a score of 84, recognised for its private banking focus and regional influence. Citibank took third place with a score of 83, noted for its international reach and comprehensive services for affluent clients.

In the insurance sector, HSBC Life led with a score of 83, dominating through its expertise in high-value policies and holistic wealth solutions. AIA was ranked second with a score of 69, valued for its broad offerings and long-standing reputation in Singapore. Prudential came in third with a score of 66, combining heritage and service quality to maintain strong resonance among affluent clients.

Ali Mirza, CEO of AFFLUENTIAL, stated, “High-net-worth and ultra-high-net-worth individuals are uniquely discerning when it comes to choosing their financial partners. These rankings reflect where trust, performance, and brand resonance truly lie at the top tier of wealth.”

The WealthLens report provides unique insights into the preferences of Singapore’s wealthiest, offering a valuable perspective on the financial brands that command their trust.
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Galaxy Entertainment Group (GEG) has announced the opening of a new office in Singapore, marking a significant step in its international growth strategy. The office, located in Singapore’s Central Business District, aims to strengthen ties with the Singaporean business community and promote Macau as a premier tourism and leisure destination across Southeast Asia.

The launch aligns with the Macao Special Administrative Region Government’s vision to diversify tourism offerings and expand visitor demographics. By establishing a presence in Singapore, GEG intends to curate bespoke travel experiences for Singaporean and regional travellers, ensuring seamless journeys from planning to arrival. The new office will also support tourism meetings, incentives, conferences, and exhibitions (MICE) enquiries, reinforcing GEG’s role as a leader in hospitality and business tourism.

Elmen Lee, Director of Integrated Resort Services at GEG, highlighted Singapore’s importance as a source market for Macau. “The taste and sophistication of Singaporean travellers naturally align with Macau’s experiential tourism offering,” he stated. The office aims to attract more Singaporean visitors to explore Macau’s diverse offerings.

The grand opening was celebrated with a gala dinner at JW Marriott Singapore, attended by distinguished guests and featuring performances by Hong Kong celebrities Kenneth Ma and Elaine Yiu. GEG’s flagship properties in Macau, including Galaxy Macau, Broadway Macau, and StarWorld Hotel, were showcased during the event.

GEG’s expansion into Singapore reflects its commitment to innovation, customer-centricity, and regional collaboration, aiming to enhance brand visibility and foster meaningful connections across Asia.
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GuocoLand has reported a FY25 operating profit of S$299m, a 7% year-on-year decline, largely meeting expectations. The company’s robust performance in Singapore, where operating profit rose by 15% to S$382m, helped offset challenges in China. Revenue increased by 5% to S$1.916b, driven by a 3% growth in the property development sector and a 28% rise in China due to the handover of residential units at Guoco Central Park in Chongqing.

Despite the positive figures, GuocoLand made an S$82m provision for foreseeable losses on its China development properties. The property investment business saw a 22% increase in revenue to S$281m, with high occupancy rates at Guoco Tower and Guoco Midtown. The company proposed a final dividend of 7 Singapore cents per share, reflecting a nearly 4% yield.

Looking ahead, GuocoLand plans to launch four new residential projects in Singapore, including Faber Residence and Penrith at Margaret Drive, which are expected to sustain earnings. The company is also set to open Lentor Modern mall in January 2026, which already has an 85% commitment rate.

In China, GuocoLand faces ongoing challenges, particularly in residential developments. The company has recognised additional provisions due to pricing adjustments within regulatory limits. However, management remains optimistic about China’s long-term potential and is committed to a disciplined approach in capital deployment.

GuocoLand maintains a “Buy” rating with a revised target price of S$2.50, reflecting a 45% discount to its revalued net asset value. The company continues to explore monetisation opportunities to unlock further value from its portfolio.
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