Regional News

Millennium Hotels and Resorts (MHR) has been named Singapore’s most valuable hotel brand for the second consecutive year, according to the Brand Finance Hotels 50 2025 global ranking. The brand, valued at $421 million, climbed three spots to 31st globally, highlighting its leadership in the hospitality sector. Together with its sister brand Copthorne, which holds a brand value of $223 m, the combined value of the two brands stands at $644m

This accolade underscores MHR’s strategic transformation, driven by innovation, digital enablement, and guest-centric growth. Key initiatives include the introduction of AI-powered assistants AVA and Ask Millie, achieving full Global Sustainable Tourism Council (GSTC) certification across all Singapore hotels, and revamping the MyMillennium loyalty programme. The brand has also expanded its lifestyle offerings with the recent launch of M Social Resort Penang and plans to open M Social Hotel New York Downtown in October and M Social Hotel Sunnyvale, Florida in Q1 2026.

Kwek Leng Beng, Executive Chairman of City Developments Limited, emphasised the importance of brand strength in driving sustainable growth and differentiating in a competitive market.

With over 145 hotels in more than 80 destinations, MHR aims to expand to 500 hotels globally through strategic partnerships and market-driven growth.
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The Singapore Exchange (SGX) has reported a significant surge in trading activity and net institutional inflows for mid and small cap stocks since May. More than 80% of nearly 120 non-index stocks have experienced increased trading turnover, with Oxley Holdings leading the charge. Oxley’s average daily turnover (ADT) jumped to $0.583m, marking a 10.6-fold increase since late May, whilst its year-to-date average reached $0.221m.

The FTSE ST Mid & Small Cap Index has generated a 14% total return since the end of May. Although the index comprises 74 stocks, there are over 190 stocks listed on SGX within this market capitalisation range. Notably, UOB-Kay Hian Holdings recorded the highest net institutional inflow of $23.09m, with its price-to-earnings (P/E) ratio rising from 7× to 10×. CSE Global followed with $16.1m in inflows and a P/E increase from 11× to 16×.

The non-index stocks have attracted over $100m in net institutional inflows since May. The top 10 non-index stocks with the highest proportional uptick in ADT include PSC Corporation and Soilbuild Construction, which have seen notable growth in trading activity.

The SGX update highlights the dynamic nature of mid and small cap stocks beyond the index constituents, showcasing their potential for significant returns and institutional interest. As these stocks continue to gain traction, they may present attractive opportunities for investors looking to diversify their portfolios. The full-year results for Oxley Holdings are expected by the end of August, which could further impact trading activity and investor interest.
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Agridence Grp Holdings Pte Ltd, a Singapore-based leader in digital agricommodity supply chain solutions, has acquired farmer connect, a European compliance and traceability platform. This strategic move, announced on 19 August 2025, aims to create a unified platform that aids agribusinesses in meeting regulatory compliance and supply chain transparency requirements across multiple commodities. The acquisition is bolstered by Agridence’s recent investment, enhancing its capacity to support global agricultural supply chains.

The merger combines Agridence’s strong upstream presence in Asia with farmer connect’s expertise in downstream buyer compliance in Europe. Gerald Tan, CEO and Founder of Agridence, stated, “This augmented competency benefits Agridence’s customers by providing access to a well-established EU presence and gives farmer connect’s customers sourcing access in Asia.”

The newly combined platform offers several key features:
– Compliance tools, including polygon-level farm mapping and deforestation risk monitoring.
– End-to-end visibility, ensuring data tracking from producers to export.
– Multi-commodity coverage, supporting coffee, cocoa, rubber, and palm oil.
– Automated ESG reporting to facilitate regulatory and market reporting.

The acquisition promises uninterrupted service for existing farmer connect customers whilst expanding platform capabilities and market reach. This integration aims to enhance compliance and traceability solutions, helping companies navigate evolving regulatory and sustainability challenges.
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Ping Identity has introduced its Just-in-time Privileged Access capabilities within the Ping Identity Platform, aiming to address the growing complexity of cloud permissions as enterprises adopt multi-cloud strategies. This new feature integrates Access Management, Identity Governance and Administration, and Privileged Access Management into a single platform, providing a comprehensive solution for managing digital environments.

Peter Barker, Chief Product Officer at Ping Identity, highlighted the limitations of traditional vault-based solutions, stating, “With the addition of PAM capabilities, we’re empowering organisations to adopt just-in-time privileged access and solve a broader set of identity and security challenges – all within a unified platform.”

The new capabilities allow end-users to request time-bound access to various cloud environments and critical resources, adhering to zero trust best practices. Additionally, the platform supports passwordless access, ensuring compliance with regulations such as GDPR and HIPAA through session recordings and audit logs. It also offers hybrid infrastructure support with context-aware policies and real-time authorisation.

Ping Identity’s CEO, Andre Durand, noted the significance of this development, stating, “Ping is now uniquely positioned to equip organisations with next-generation privileged access capabilities—protecting access to cloud infrastructure and securing the full spectrum of identities from a single, trusted platform.”

These advancements are facilitated by Ping Identity’s acquisition of Procyon, a cloud-native start-up, which was founded to enhance privileged access security for both cloud and on-premises infrastructure. The new capabilities will be available through PingOne Privilege, further strengthening Ping Identity’s position in the digital identity security market.
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The Starlight International Youth Basketball Open (SIYBO) 2025 wrapped up after three days of intense competition at Bukit Canberra Sport Hall, Singapore, from 15 to 17 August. Organised by Touchdown Sports, the event featured 46 teams from 10 countries, including the USA, Japan, and China, highlighting the diversity and talent of young athletes in the region.

Now in its third year, SIYBO has become a key event in the youth basketball calendar, offering boys and girls across seven categories the chance to shine on an international stage. The opening ceremony, with its vibrant dragon dance and team parade, set the tone for a weekend filled with excitement and cultural celebration. A surprise video message from basketball legend Yao Ming added to the event’s prestige, delighting both players and spectators.

The tournament was not just about competition; it fostered camaraderie and community spirit. Families filled the stands with enthusiastic support, and players forged friendships across borders. Participants received goodie bags and exclusive merchandise, ensuring they left with lasting memories.

As SIYBO 2025 concludes, organisers are already planning for SIYBO 2026, scheduled for 14 to 16 August next year, aiming to expand its international reach and impact. The list of winners from this year’s event includes AirOne, J-Ballers, and ABA, among others, with standout performances from MVPs like Jayden Immanuel Bodhi and Demi Dawodu.
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Worldpay, a leader in payment technology, has joined forces with Trulioo, a global digital identity platform, to introduce new safeguards for AI-powered agent-led commerce. This collaboration aims to enhance trust, consent, and accountability in the rapidly evolving landscape of digital payments driven by artificial intelligence.

As AI agents increasingly facilitate consumer shopping, verifying agent identities and securing clear shopper consent are crucial to maintaining trust, preventing fraud, and complying with regulatory requirements. Worldpay and Trulioo will innovate to provide advanced tools ensuring merchants, payment providers, and consumers can trust agent-based transactions.

Cindy Turner, chief product officer at Worldpay, stated, “Innovation in payments must always be grounded in integrity and trust. By partnering with Trulioo, we’re delivering the trust infrastructure our ecosystem needs and empowering businesses and consumers to embrace AI-powered commerce with confidence, knowing that safety and transparency are at the heart of every transaction.”

Central to this initiative is the Know Your Agent (KYA) framework, powered by a Digital Agent Passport. This credential bundle will allow merchants to assess the legitimacy and authorisation of AI agents, ensuring they act with proper consent. The framework provides guidelines for verifying developer identity, code integrity, and user consent in real time.

Vicky Bindra, CEO at Trulioo, emphasised, “Agentic commerce has significant potential, but it can only scale with trust built in from the start. With Worldpay, we’re laying the foundation for a more secure and accountable digital ecosystem.”

The partnership promises to unlock new experiences for merchants and platforms, such as smarter checkout flows and real-time fraud detection, whilst maintaining safety and visibility. This approach aims to reduce fraud, improve checkout conversion, and ensure AI assistants operate with proper permission, benefiting the entire commerce ecosystem.
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Thomson Medical has officially opened the Thomson Women’s Clinic & Cancer Surgery at Thomson Medical Centre, enhancing its oncology capabilities and commitment to women’s health. The clinic, led by Dr Wang Junjie, a renowned gynaecological oncologist, aims to provide comprehensive care for women facing gynaecological cancers and other conditions.

Dr Wang, who joined Thomson Medical on 1 July 2025, brings over 17 years of experience in obstetrics and gynaecology, with a focus on minimally invasive surgery for treating gynaecological cancers. Previously, he was the Head of Gynaecological Oncology at KK Women’s and Children’s Hospital, where he helped establish Singapore’s first OncoFertility Clinic.

Located in Novena’s medical precinct, the new clinic offers a range of services from preventive screenings to complex cancer surgeries. It aims to provide holistic, specialist-led care for conditions such as ovarian, endometrial, cervical, and uterine cancers. The clinic also addresses other gynaecological issues like endometriosis and menstrual disorders.

The launch is part of Thomson Medical’s broader strategy to build an integrated cancer care network in Singapore and the region. Earlier this year, the group partnered with OncoCare to expand access to medical oncology expertise. “With the Thomson Women’s Clinic & Cancer Surgery, we are extending that journey into areas where timely, expert care can be truly life-changing,” said Lee Suen Ming, CEO of Thomson Medical.

Dr Wang emphasised the importance of personalised care, stating, “Every woman’s health journey is unique, and cancer care must be both highly specialised and deeply personal.” The clinic promises advanced diagnostics and surgical expertise, alongside compassionate support for patients.
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Pinnacle Mastery Institute, a Singapore-based training and development organisation, has unveiled “The Pinnacle,” a new leadership and transformation programme. Created by founder Hun Ming Kwang, the initiative aims to enhance leadership skills, tackle systemic challenges, and aid in personal and professional transitions through a structured approach.

The Pinnacle begins with a three-day in-person intensive session, followed by five weeks of evening practice sessions. Participants will engage in a 28-day project to apply the insights and methods learnt, ensuring practical application of the programme’s teachings. The programme draws on process-oriented psychology and systemic constellations to explore unseen dynamics such as unspoken group roles, family patterns, and internal conflicts that influence behaviour and decision-making.

Hun Ming Kwang, the founder of Pinnacle Mastery Institute, stated, “This programme is about creating the conditions for deeper reflection and integration. Our aim is not to provide quick solutions but to equip participants with tools and perspectives they can carry forward into their leadership and personal lives.”

Key areas of focus in The Pinnacle include balancing independence with collaboration, understanding systemic influences in families and organisations, identifying hidden forces that shape dynamics, and interpreting body signals for insight and guidance. The programme is designed for professionals, entrepreneurs, and changemakers seeking to expand their leadership practice and navigate complex environments with resilience.
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Endowus, a leading independent wealth adviser in Asia, has announced a strategic partnership with Macquarie Asset Management (MAM) to introduce private infrastructure investment solutions to professional and accredited investors in Hong Kong and Singapore. This collaboration marks MAM’s first partnership with a digital wealth platform in Asia, providing Endowus clients access to a diversified portfolio of infrastructure assets traditionally reserved for institutional investors.

The partnership is a significant expansion of Endowus’ private market offerings, which now include private infrastructure alongside hedge funds, private credit, private equity, and real estate. MAM, a global leader in infrastructure investing, manages over $588.1b in assets and has a proven track record, including a record-breaking $15.7b exit of AirTrunk, Asia-Pacific’s largest data centre operator.

Christopher Frost, Senior Managing Director at MAM, expressed enthusiasm about the partnership, stating, “We’re excited to partner with Endowus to bring our leading infrastructure investing expertise to professional and accredited investors in Hong Kong and Singapore.”

Private infrastructure is gaining traction as a resilient asset class, offering lower volatility and acting as an inflation hedge. It provides diversification benefits due to its low correlation with traditional markets. The growth of private infrastructure is driven by megatrends such as decarbonisation and digitisation, which are reshaping global economic development.

Samuel Rhee, Chairman and Group Chief Investment Officer of Endowus, highlighted the benefits of private infrastructure, noting its complementarity to Endowus’ existing offerings and its potential to build resilient, long-term portfolios for clients.

This partnership underscores Endowus’ commitment to expanding its private market offerings and providing comprehensive solutions for its high-net-worth clients, a segment that has seen significant growth in recent months.
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A recent report by Etiqa Insurance Singapore highlights that 77% of Singaporeans are prioritising leaving an inheritance for future generations. This trend is particularly strong amongst those aged 55 and above, with 74% committed to wealth transfer. The report underscores the importance of proactive wealth planning and management in Singapore.

The study, conducted in collaboration with Kantar, surveyed 1,008 Singapore citizens and permanent residents. It found that over half of the respondents (53%) have either received or expect to receive an inheritance, with expectations even higher amongst those under 24, at 62%. This indicates a growing need for financial literacy and planning amongst younger generations.

Amongst those expecting to receive or give an inheritance, one in five anticipates a windfall of $1m or more. This highlights the necessity for financial education to manage such wealth effectively. Raymond Ong, CEO of Etiqa Insurance Singapore, stated, “Our Wealth Transfer Insights Report findings indicate that wealth transfer is increasingly viewed not just as a financial event, but as a purposeful act of next generation empowerment.”

The report also reveals that nearly half of Singaporeans (46%) have initiated wealth transfers during their lifetime, moving away from solely posthumous transfers. Additionally, 49% use insurance as a tool for wealth transfer, recognising its effectiveness in legacy planning.

Despite these proactive measures, challenges remain. Concerns about family conflict, financial security, and wealth mismanagement persist. Ong emphasised the need for strategic and informed legacy planning to address these issues and ensure that wealth transfer empowers future generations. Etiqa Insurance Singapore is committed to supporting the community through financial planning literacy workshops to equip individuals with essential wealth management skills.
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