Regional News

Proofpoint’s 2025 Voice of the CISO report has unveiled that human error is the top cybersecurity risk for Singapore’s chief information security officers (CISOs), with 61% identifying people as their greatest threat. The report, which surveyed 1,600 CISOs globally, highlights that 91% of Singapore CISOs experienced material data loss in the past year, a significant increase from 32% in 2024.

The findings indicate that departing employees played a role in all reported data losses, despite widespread adoption of Data Loss Prevention tools. This underscores the ongoing challenge of insider threats, with 43% of CISOs admitting their data remains inadequately protected. The report also notes that 82% of Singapore CISOs feel at risk of a material cyberattack within the next 12 months, yet 53% acknowledge their organisations are unprepared to respond.

AI has emerged as both a priority and a concern, with 41% of Singapore CISOs prioritising GenAI tool use over the next two years. However, 50% express concerns about potential customer data loss via public GenAI platforms. Organisations are shifting from restriction to governance, with 53% implementing usage guidelines and 66% exploring AI-powered defences.

Patrick Joyce, global resident CISO at Proofpoint, remarked, “This year’s findings reveal a growing disconnect between confidence and capability among CISOs.” As Singapore continues to strengthen its position as a digital hub, the report calls for human-centric security strategies to address both people and emerging technologies.
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Porsche has announced a strategic pivot in its battery operations, opting to concentrate on research and development (R&D) of battery cells and systems rather than expanding production. This decision comes as the company navigates challenging market conditions, particularly in the US and China, which have not met initial expectations for electric vehicle uptake. The move will involve a socially responsible reduction in staff, with opportunities for affected employees at PowerCo, Volkswagen Group’s battery competence centre.

The decision underscores Porsche’s commitment to electric mobility, with 57% of its European deliveries in the first half of 2025 being electrified vehicles. Despite this progress, Porsche has decided against scaling its own battery cell production due to volume and economy of scale challenges. Dr. Oliver Blume, Porsche’s CEO, stated, “Electromobility will remain an essential drive technology for our sports cars in the future.”

Porsche’s Cellforce Group, initially set to expand battery production, will now focus on R&D. Dr. Michael Steiner, Porsche’s Executive Board Member for R&D, acknowledged the dedication of Cellforce employees but noted the economic impracticality of the original business model. The group’s expertise will continue to be leveraged, with PowerCo placing development orders for high-performance cells.

Additionally, Porsche’s acquisition of V4Smart GmbH & Co. KG’s ultra-high-performance lithium-ion round cells will enhance its battery capabilities. These cells are already used in Porsche 911 GTS models, with further hybrid derivatives in development. This strategic realignment aims to bolster Porsche’s position in the evolving electric vehicle landscape.
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Mintology, a Singapore-based utility NFT platform powered by Mintable, is set to debut its innovative NFT redemption technology at the Singapore Business Show 2025, held on 27–28 August at the Sands Expo & Convention Centre. In collaboration with the Asia Blockchain Association, Mintology will transform the event into a live demonstration of how NFT vouchers can enhance brand engagement and deliver measurable returns.

The showcase will feature Kwaasong Bakehouse, a participating merchant, where attendees can scan a QR code, register via email, and mint an NFT voucher for a complimentary croissant. This activation aims to illustrate the practical utility of NFTs, offering live metrics, gamification, and merchant involvement. Visitors can also engage in Mintology’s “Hoop Challenge” game to win prizes, track live voucher claims, and network in a dedicated lounge.

The initiative highlights the potential of Web3 technology to provide customer satisfaction and business results through social media rewards, premium giveaways, and real-time analytics. Zach Burks, CEO of Mintable, emphasised, “NFTs aren’t just digital collectables — they’re a live tool for brands to communicate with customers in the real world. By showcasing this technology in a live environment, we can prove that NFTs drive genuine engagement, loyalty, and measurable returns.”

Mintology’s activation is part of its mission to make NFTs accessible and commercially impactful for mainstream brands. The event will serve as a pilot case study to evaluate merchant return on investment and campaign performance, potentially paving the way for broader adoption of NFT technology in loyalty programmes.
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Daughters Of Tomorrow (DOT), a Singaporean non-profit focused on enhancing economic mobility for women from low-income communities, has named Von Leong as its new Board President, effective 1 June 2025. Leong, a seasoned leader with over 20 years of experience across technology, venture capital, and public service, steps into the role as Singapore faces widening social divides and the impact of digital disruption on vulnerable workforce segments.

Leong’s appointment is timely as DOT aims to deepen its impact through policy engagement and tech-enabled solutions. “Singapore’s economic future cannot afford to leave behind those at the margins,” Leong stated, highlighting her commitment to addressing job displacement and digital exclusion affecting low-income women.

Leong’s extensive background includes co-founding Purpose Venture Capital, where she supports women-founded start-ups, and leading sector reforms at the National Council of Social Service. Her leadership during the COVID-19 crisis, mobilising volunteers for the Masks For All SG movement, underscores her ability to rally communities for rapid response.

Kaylee Kua, DOT’s Executive Director, emphasised the significance of Leong’s appointment, noting her potential to transform DOT into a thought leader in financial stability for women. “Her ability to straddle sectors, scale innovation, and stay anchored to the ground will be instrumental,” Kua said.

As DOT continues to address the challenges faced by women in the non-PMET workforce, Leong’s vision aligns with the organisation’s next chapter, focusing on creating long-term pathways to social mobility and empowerment.
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Singapore’s industrial production (IP) demonstrated unexpected strength in July, with a robust 8.2% month-on-month seasonally adjusted increase, according to UOB Global Economics and Markets Research. This growth rate, the fastest since July 2024, significantly outpaced Bloomberg’s estimate of 1.1% and UOB’s own forecast of 0.9%. Year-on-year, IP rose by 7.1%, surpassing expectations of 0.9%.

The impressive performance was largely driven by non-biomedical manufacturing sectors. Electronics, a major contributor, saw a 12.3% month-on-month increase, buoyed by a rebound in semiconductors. Precision engineering and transport engineering also contributed to the growth, with increases of 4.3% and 7.5% respectively.

Despite a decline in biomedical manufacturing, which fell by 18.7% month-on-month, the overall IP growth was supported by strong performances in other sectors. Electronics output, which accounts for 37.4% of overall IP, expanded by 13.1% year-on-year, driven by semiconductors and info-communications products.

UOB’s report highlighted that Singapore’s first half of 2025 GDP growth was resilient at 4.3% year-on-year, supported by export front-loading. However, the bank anticipates a slowdown in the second half due to potential US tariffs. Despite the strong July IP figures, UOB maintains its GDP growth forecasts for 2025 and 2026 at 2.2% and 1.5%, respectively. The report suggests that any future economic payback might impact trade-related services more than manufacturing.
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The Institute of Technical Education (ITE) and TP-Link Corporation have signed a Memorandum of Understanding (MOU) to equip students with essential skills for high-demand roles in the information and communications technology (ICT) sector. This partnership will provide approximately 600 students annually with practical training, global certifications, and industry exposure, preparing them for careers in networking and surveillance technologies.

The three-year collaboration will see the development of new Continuing Education & Training (CET) courses, including the Omada Certified Network Administrator (OCNA) and VIGI Certified Security Administrator (VCSA) programmes. These courses will cover areas such as wireless network management, routing and switching, and smart surveillance systems. The initiative aims to address the growing demand for skilled professionals in Singapore’s ICT and security sectors.

TP-Link will also offer internships, placements, and industry learning journeys, creating pathways to permanent roles. The partnership includes equipment sponsorship, staff attachments, and student competitions. Students will gain hands-on experience with enterprise-grade systems, learning to troubleshoot networking issues and configure surveillance systems using TP-Link technologies.

Hugo Cai, Regional Director of TP-Link, highlighted the importance of aligning training with real-world demands, stating, “By bringing industry expertise into the classroom, we’re not only supporting local education but also investing in the future of Southeast Asia’s digital workforce.” ITE CEO Low Khah Gek added, “By integrating industry-leading expertise and resources into our curriculum, we can better equip our students with industry-relevant skills.”

This collaboration is set to nurture a new generation of ICT professionals, ready to meet the challenges of a rapidly evolving digital landscape.
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DKSH Business Unit Consumer Goods has announced a strategic partnership with Hong Kong-based Nextfood Global Limited to introduce premium breakfast products in Singapore. This collaboration marks DKSH’s entry into the premium breakfast cereal segment, aiming to cater to the growing demand for nutritious and convenient breakfast options among Singaporean consumers.

Nextfood, known for its health-conscious muesli and freeze-dried fruit products, targets urban consumers with active lifestyles. The muesli blends rolled oats, oat crunch, and puffed grains with up to 20% real fruits and seeds, whilst the freeze-dried snacks are made from fresh fruit without preservatives. The initial product launch will include three muesli variants—Berry Wonderland, Choco Berryland, and Cozy Morning—and three freeze-dried fruit snacks—Dragon Fruit, Strawberry, and Fruit Mix. These will be available at FairPrice and RedMart.

Janice So and Kevin Bernhard, Co-Founders of Nextfood, expressed their excitement about the launch, stating, “Our goal has always been to offer wholesome products that resonate with busy, health-conscious consumers at an accessible price.” Adrian Kang, Vice President of Fast Moving Consumer Goods at DKSH Singapore, added, “Nextfood brings a refreshing and modern take on everyday nutrition.”

This partnership aligns with DKSH’s strategy to expand its portfolio in health and wellness-focused categories, reinforcing its commitment to delivering high-quality products in the Asia Pacific region.
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Moomoo Singapore has announced a strategic partnership with global investment firm Barings to provide accredited investors in Singapore with access to institutional-grade private credit investments. This collaboration aims to democratise access to an asset class traditionally reserved for institutions and ultra-high-net-worth individuals, offering lower minimum investment thresholds and investor liquidity through the moomoo app.

The partnership marks Barings’ first collaboration with a digital investment platform in the region. Barings, a subsidiary of MassMutual, manages over $442 billion in assets and has over 30 years of experience in private credit markets. The firm’s private credit strategies are known for disciplined risk management and consistent yield generation.

Private credit investments, which involve direct lending to businesses, offer higher yields with lower market volatility compared to traditional public debt. According to PitchBook, private credit funds have delivered an average annual return of 8–10% over the past decade. The global private credit market is projected to nearly double to $2.8 trillion by 2028, according to Preqin and the Monetary Authority of Singapore.

Ryan Wu, Head of Private Wealth and Institutional Business at Moomoo Private Wealth, stated, “We’re proud to partner with Barings to bridge the gap between institutional-grade private credit opportunities and accredited investors on our platform.” Lydia Wu, Head of Distribution for Greater China and Southeast Asia at Barings, added, “Private credit is an asset class that has a long runway for growth and presents opportunities for investors seeking alternative sources of return.”
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The Singapore telecommunications sector is witnessing significant consolidation, with Simba’s acquisition of M1 and StarHub’s increased stake in MyRepublic (MR) marking pivotal changes. These moves are expected to influence market dynamics, with mobile network operators (MNOs) maintaining aggressive strategies to defend and grow their revenue market share in the short-to-medium term.

Recent developments have seen Singtel maintaining its position as a top pick due to its return on invested capital (ROIC) expansion and capital management upsides. However, the June reporting season highlighted challenges, with Singtel and StarHub experiencing 7% and 11% year-on-year declines in mobile revenues, respectively. This was attributed to intense competition and aggressive SIM pricing, coupled with higher data inclusions and bundled roaming data.

The Simba-M1 merger, announced on 11 August, has been met with optimism regarding market consolidation, though MNOs remain uncertain about the timing of market price repair. StarHub, during its Q2/H1 2025 results call, expressed its intent to protect its interests in the Antina joint venture with M1, citing the acquisition as a material change in ownership.

StarHub’s acquisition of a 49.9% stake in MR on 12 August, following its initial 50.1% stake in September 2021, aims to strengthen its position in the broadband market. Simba’s entry into the broadband sector in 2024 with competitive pricing has intensified market competition.

Post-results, StarHub has revised its FY25 EBITDA growth forecast to an 8-12% year-on-year decline, planning aggressive strategies in the second half of 2025 to maintain its market share. Meanwhile, Singtel’s forecast remains unchanged, focusing on cost optimisation initiatives for long-term positive outcomes.
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A groundbreaking initiative, the Stroke Rehab Ecosystem, has been launched in Singapore to improve post-stroke care by reducing the wait time for rehabilitation from several months to just two weeks. Spearheaded by the Lien Foundation, Singapore General Hospital, and Tan Tock Seng Hospital, this four-year programme will provide tailored care through enhanced hospital-community coordination and upskilling of community therapists. The initiative is expected to benefit more than 2,000 stroke survivors.

The Lien Foundation is investing $3.72 million (S$5.09 million) into the programme, with an additional $1.1 million (S$1.5 million) allocated for Singapore’s first adaptive gym, designed specifically for stroke survivors. This gym, to be managed by Stroke Support Station (S3), will offer a safe environment for survivors to continue their recovery and improve their quality of life.

The programme will introduce direct referral pathways from hospitals to community services, ensuring continuity of care. Stroke survivors will be categorised into three tiers based on severity, with tailored support provided accordingly. AWWA will offer home therapy services as a bridging solution for those awaiting enrolment into Day Rehab Centres.

Additionally, the initiative will develop an integrated mobile application to support stroke survivors beyond formal rehabilitation. The programme also aims to enhance mental health support, recognising the significant impact of post-stroke depression on recovery.

The Stroke Rehab Ecosystem represents a collaborative effort to address the complexities of post-stroke care, aiming to improve rehabilitation outcomes and overall wellness for stroke survivors in Singapore.
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