Regional News

The Brunei Economic Development Board (BEDB) is set to launch the inaugural Brunei Week in Singapore from 5 to 7 September 2025 at Suntec City Convention Centre. Supported by Royal Brunei Airlines, the event will feature a Brunei pavilion showcasing more than 20 Bruneian brands, many of which are debuting in Singapore. The event aims to introduce Singaporeans to Brunei’s culinary offerings, including Tea Tarik Dust by Sabli’s and Marimin’s shrimp and fish crackers.

Brunei Week will be part of MakBesar’s Grand Market 2025, providing an opportunity for Singaporeans to sample and purchase Bruneian-made products. Notable items include Sambal Tahai by Rizqussalam and Pineapple Sunrise Hot Sauce by Volco Venture, which organisers hope will become kitchen staples in Singapore. Health-conscious visitors can also look forward to Skinny Meal’s Root Juice.

Beyond the event, BEDB is collaborating with Singaporean distributors to ensure these products remain accessible. Meat Aliyah Rizq Pte Ltd and Lim Siang Huat Pte Ltd have signed agreements to distribute Bruneian products, focusing on retail and e-commerce respectively. “The Brunei Economic Development Board is excited about the opportunities that the inaugural Brunei Week will create for Brunei businesses,” said Norlela Suhailee, Director of Enterprise Development at BEDB.

The initiative not only aims to boost Brunei’s market presence in Singapore but also to strengthen bilateral ties through shared culinary experiences. With strategic partnerships in place, Brunei Week is poised to leave a lasting impression on Singapore’s food scene.
“`

iFAST Corporation Ltd, a Singapore-based wealth management fintech platform, has announced a significant 15% increase in revenue for the second quarter (Q2), attributing this growth to its expanding platform business. The company revealed its financial results on 19 August, highlighting the continued success of its digital wealth management services.

The company’s platform business, which includes its Business-to-Business (B2B) and Business-to-Consumer (B2C) segments, played a pivotal role in driving revenue growth. This segment saw increased adoption by financial advisers and retail investors, contributing to the overall positive performance. iFAST’s CEO stated, “Our platform business continues to gain traction, reflecting the growing demand for digital wealth management solutions.”

In addition to revenue growth, iFAST reported a 12% increase in its assets under administration (AUA), reaching a new high. This rise in AUA underscores the company’s ability to attract and retain clients amidst a competitive market landscape. The CEO further commented, “The increase in AUA is a testament to our commitment to providing comprehensive and innovative solutions to our clients.”

Looking ahead, iFAST Corporation remains optimistic about its growth prospects, with plans to enhance its platform capabilities and expand its geographical footprint. The company aims to capitalise on the growing trend towards digitalisation in the financial services industry, positioning itself as a leader in the fintech space.

In summary, iFAST Corporation’s strong Q2 performance, driven by its platform business, highlights the company’s strategic focus on digital wealth management and sets the stage for continued growth in the future.
“`

Great Eastern Holdings Limited has announced the successful completion of its bonus issue, a strategic move aimed at increasing shareholder value. The company, a leading insurance provider in the region, confirmed the issuance of bonus shares to its existing shareholders, a decision that was initially approved during its recent annual general meeting.

The bonus issue, which was executed on 19 August, involved the distribution of additional shares to shareholders in proportion to their existing holdings. This initiative is designed to reward shareholders and potentially increase the liquidity of the company’s shares in the market.

The completion of this bonus issue is part of Great Eastern’s broader strategy to strengthen its market position and foster investor confidence. By increasing the number of shares available, the company aims to make its stock more attractive to potential investors, thereby supporting its market capitalisation.

Looking ahead, Great Eastern Holdings plans to continue exploring opportunities that align with its growth objectives and shareholder interests. The successful execution of the bonus issue marks a significant milestone in the company’s ongoing efforts to optimise its capital structure and deliver consistent returns to its investors.
“`

Sasseur REIT has reported a 2.2% year-on-year increase in its rental income for the first half of 2025, attributed to a 3% escalation in fixed rent. The company, which operates outlet malls, maintained a high occupancy rate of 98.5%, although tenant sales growth moderated to 0.8% year-on-year during the same period. The announcement comes as Cheng Hsing Yuen prepares to take over as CEO, with plans to continue acquisition efforts in Tier 1.5 cities in China, potentially funded through a mix of debt and equity.

The company’s performance is noteworthy as it navigates a challenging retail environment. The high occupancy rate underscores the resilience of its outlet malls, which continue to attract tenants despite broader economic pressures. Cheng Hsing Yuen’s appointment is expected to bring fresh leadership to the company, with a focus on strategic acquisitions to bolster its portfolio.

Sasseur REIT has maintained a “BUY” recommendation with a target price of SGD0.90, offering a compelling forward yield of 8.6%. This positions the company as an attractive investment opportunity for those seeking stable returns in the real estate sector.

In parallel, UOL Group has reported strong results for the first half of 2025, with operating profit after tax and minority interests (PATMI) reaching SGD207 million, marking a 45% increase year-on-year. The group’s residential earnings were bolstered by robust sell-through rates and strategic landbank replenishment. UOL’s strategy to optimise its total portfolio is expected to enhance recurring income and potentially increase dividends. The redevelopment of Marina Square is highlighted as a key catalyst for future growth, with a maintained “BUY” recommendation and a higher target price of SGD8.80.
“`

Porsche Asia Pacific has launched its latest lifestyle-led brand space, Porsche at Jewel, at Singapore’s Jewel Changi Airport. This innovative retail concept aims to merge Porsche’s rich heritage with automotive passion and global culinary flavours, offering a unique experience for both tourists and locals. Positioned near the iconic Rain Vortex and Forest Valley, the store is designed to be an immersive introduction to the Porsche brand.

The Porsche at Jewel store is divided into four distinct zones: Café Carrera by Baker & Cook, the Culture Garage, a Porsche Lifestyle store, and a forthcoming reception area for the Porsche Experience Centre Singapore. Each area is meticulously curated to reflect Porsche’s dynamic spirit and heritage. The Café Carrera offers a menu inspired by legendary road trip routes, whilst the Culture Garage showcases automotive culture and history through seasonal exhibitions.

Hannes Ruoff, CEO of Porsche Asia Pacific, stated, “Porsche at Jewel is a continuation of our pioneering spirit, designed to spark curiosity and deepen our connection with the region and beyond.” The store also serves as a strategic hospitality gateway, linking travellers to the anticipated Porsche Experience Centre Singapore.

The Porsche Lifestyle store features a capsule collection in collaboration with Singaporean artist Tiffany Lovage, celebrating Singapore’s 60th birthday. This partnership highlights local culture through Porsche’s design lens, offering a unique blend of community warmth and automotive innovation.

Porsche at Jewel is open daily from 10:00 a.m. to 10:00 p.m., with complimentary parking available for Porsche Privilege programme members.
“`

ViewQwest, a leading telecommunications and network security service provider in Southeast Asia, has announced the appointment of Peter Molloy as its new Chief Growth Officer (CGO). Based in Singapore, Molloy will lead the Group Enterprise Business, focusing on expanding ViewQwest’s presence across Singapore, Malaysia, Hong Kong SAR, the Philippines, and the broader Asia-Pacific region.

Peter Molloy joins ViewQwest with over 25 years of experience in enterprise technology sales, having worked with global companies such as Cisco and Palo Alto Networks. His appointment comes as ViewQwest continues its growth momentum, marked by successful entries into new markets like Hong Kong and expanding customer sites in North and Southeast Asia. “Peter’s arrival marks a step-change in our growth journey,” said Vignesa Moorthy, CEO of ViewQwest, highlighting the company’s ambition to challenge global incumbents and deliver next-generation network and security services.

Molloy’s role will involve leading and scaling the enterprise sales teams, introducing new technologies, and building strategic partnerships to accelerate market entry. He expressed enthusiasm about joining ViewQwest, stating, “The company has already shown its ability to punch above its weight, and I look forward to building on this momentum.”

With Molloy focusing on enterprise growth, Benjamin Tan, Chief Commercial Officer, will concentrate on expanding the Wholesale Business. This strengthened leadership team positions ViewQwest to capture significant opportunities in the region, advancing its mission to be the preferred network and security partner.
“`

DXC Technology and Boomi have announced a strategic partnership aimed at accelerating enterprise modernisation and the adoption of agentic AI. This collaboration includes the launch of a Boomi Centre of Excellence (COE) within DXC, serving as an innovation hub to deliver best practices and proven implementation patterns across industries.

The partnership focuses on three core areas: application modernisation, AI-driven migration and data readiness, and agentic transformation. DXC will provide cloud-native integration solutions to replace outdated middleware, whilst Boomi’s AI-powered automation will unify mission-critical systems, enhancing operational efficiency and decision-making. Boomi Agentstudio will enable secure and intelligent orchestration of AI agents at scale.

T.R. Newcomb, Chief Revenue Officer at DXC Technology, stated, “We’re thrilled to partner with Boomi to help our customers accelerate their transformations, delivering seamless integration and AI agent management that positions them for success with agentic AI.” Steve Lucas, Chairman and CEO at Boomi, added, “This partnership gives enterprises a direct path to modernisation, automation, and long-term AI readiness.”

The Boomi COE will act as a delivery and innovation hub, ensuring a consistent, high-quality modernisation experience. Dan McAllister, SVP of Global Alliances at Boomi, remarked, “Together, we’re collapsing complexity and accelerating transformation at the core of the enterprise.”

This partnership between DXC and Boomi is set to redefine how enterprises automate and integrate operations, positioning them for success in an AI-first world.
“`

The Singapore Department of Statistics has reported a significant decline in the country’s wholesale trade for the second quarter (Q2) of 2025. Domestic wholesale sales decreased by 10.9% compared to the same period in 2024. When excluding petroleum, the decline was slightly less severe at 6.2%. Foreign wholesale sales also experienced a downturn, falling by 7.1%. However, when petroleum is excluded, foreign wholesale sales actually saw a modest increase of 1.1%.

These figures highlight the challenges faced by Singapore’s wholesale trade sector amidst fluctuating global market conditions. The exclusion of petroleum from the statistics reveals a more nuanced picture, suggesting that other sectors within the wholesale trade may be performing better than the overall numbers indicate.

The Department of Statistics encourages stakeholders to access the full press release and additional data through their website and the SingStat Mobile App, which has recently been updated with enhanced features. The department also invites the public to follow their Instagram account for more statistical insights.

This downturn in wholesale trade could have broader implications for Singapore’s economy, potentially affecting related industries and employment. As the global economic landscape continues to evolve, businesses and policymakers will need to adapt to these changes to mitigate the impact on the domestic market.
“`

AIGP Health, a Singapore-based AI healthtech company, has achieved a significant milestone by becoming the first in the country to receive Class A regulatory approval from the Health Sciences Authority (HSA) for its AI-powered clinical assistant. This approval allows AIGP Health to distribute its innovative solution to clinics and telehealth providers across Singapore and beyond.

The platform, developed by practising doctors, utilises natural language processing to assist healthcare professionals with real-time note-taking, patient data summarisation, and consultation prompts. Importantly, the system is designed to support, not replace, human clinical judgement, ensuring that all medical decisions remain under physician control, in line with HSA’s guidelines for low-risk medical software.

Dr Anindita Santosa, co-founder and CEO of AIGP Health, emphasised the significance of the approval, stating, “Regulatory approval isn’t just a milestone for us, it’s an affirmation of our belief that technology can support, not substitute, the human touch in healthcare.” This approval enables AIGP Health to transition from pilot projects to full deployment, aiming to reduce the administrative burden on doctors and improve patient care continuity.

The approval aligns with Singapore’s broader framework for responsible AI in medicine, highlighting the country’s commitment to integrating technology in healthcare whilst maintaining the essential human element. As AIGP Health expands its reach, the platform is set to enhance clinical workflows and patient outcomes across the nation.
“`

Singapore’s small and medium-sized enterprises (SMEs) are encountering significant challenges in their digital transformation journey, according to Adyen’s latest SME Platform Payments Survey. Despite efforts to digitise in line with the nation’s Smart Nation vision, many SMEs are experiencing “digital friction” due to fragmented systems, particularly in payment reconciliation.

The survey highlights that 75% of SMEs in Singapore are affected by these inefficiencies, which cost medium-sized businesses up to seven hours a week in manual work. This digital friction not only slows operations but also delays cash flow and complicates growth planning. The demand for integrated solutions with real-time reporting and payment unification is growing as businesses seek to overcome these hurdles.

Adyen’s survey also reveals that whilst 64% of SMEs rely on Software as a Service (SaaS) platforms, nearly half use more than one platform for reconciliation, adding complexity rather than reducing it. This fragmented approach is particularly challenging for medium-sized businesses, with 87.5% reporting reconciliation as a major pain point.

The survey underscores the importance of integrated platforms that consolidate operations and offer real-time insights. Adyen’s partnership with Atlas has enabled the integration of its payment technology into AtlasPay, a solution that has helped SMEs like PPP Coffee reduce operational errors and improve efficiency.

As SMEs look to scale, the right SaaS partner can be crucial. With 72% of local SMEs planning to invest in more SaaS solutions in the next year, the focus is on unifying operations and enabling real-time insights to unlock new growth opportunities.
“`