Regional News

RHB has released a comprehensive report detailing the significant economic and social strategies presented during the 2025 National Day Rally. The report, titled “Takeaways From The National Day Rally 2025,” provides an in-depth analysis of the government’s plans to address pressing national issues and drive future growth.

The report highlights several key initiatives announced during the rally, focusing on economic resilience, social cohesion, and technological advancement. Amongst the strategies, the government emphasised the importance of strengthening the nation’s economic foundations to withstand global uncertainties. This includes investing in infrastructure, enhancing digital capabilities, and fostering innovation across various sectors.

Social policies were also a focal point, with plans to bolster community support systems and improve access to essential services. The government aims to create a more inclusive society by addressing income inequality and ensuring that all citizens benefit from the nation’s progress.

RHB’s analysis underscores the potential impact of these strategies on the country’s long-term development. The report suggests that the initiatives could significantly enhance the nation’s competitiveness on the global stage whilst ensuring sustainable growth and social stability.

As the government moves forward with these plans, RHB’s report provides valuable insights into the potential challenges and opportunities that lie ahead. The findings are expected to guide policymakers, businesses, and citizens as they navigate the evolving landscape shaped by the 2025 National Day Rally’s directives.
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Unilink Credit, a licensed moneylender in Singapore, is actively working to change the negative perceptions often associated with its industry by prioritising corporate social responsibility (CSR). Instead of engaging in publicity campaigns, the company has committed to supporting vulnerable communities in Singapore through various initiatives. These efforts include providing school materials for children, festive meals, and care packages for elderly residents and low-income families, particularly during the Lunar New Year.

A survey by Zeno Group, which included 1,000 Singaporeans, revealed that nearly 80% of consumers consider a brand’s engagement with social issues when making purchasing decisions. This underscores the growing importance of CSR in business. Despite the positive impact of its initiatives, Unilink Credit has chosen not to widely publicise these efforts. “We did all these with heart and not for any marketing purpose,” said Daphne, Director of Unilink Credit. “You don’t have to be very wealthy to do charity. Every bit counts and it doesn’t always need to be monetary.”

Unilink Credit believes that lending and giving are guided by the same principles of trust, responsibility, and social impact. The company aims to demonstrate that licensed moneylenders can offer transparent credit services whilst also supporting community welfare. The most rewarding outcomes, according to the company, are the intangible moments of joy and gratitude from those they assist.

Looking forward, Unilink Credit plans to continue its support for causes benefiting the elderly and low-income children, regardless of cultural or religious backgrounds. The company hopes its example will help shift public perception, showing that lending and CSR can coexist harmoniously in Singapore.
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A recent analysis reveals that a significant number of companies listed in Singapore are not yet prepared to meet the International Sustainability Standards Board (ISSB) requirements, which will become mandatory in the financial year 2025. The ISSB standards aim to enhance transparency and accountability in sustainability reporting, a crucial step as global focus on environmental, social, and governance (ESG) issues intensifies.

The report highlights that many firms are struggling to align their current reporting practices with the forthcoming standards. This lack of readiness could pose challenges for companies seeking to maintain investor confidence and comply with international expectations. The ISSB standards are designed to provide a comprehensive framework for sustainability reporting, ensuring that companies disclose relevant ESG information in a consistent and comparable manner.

The impending changes underscore the need for Singapore-listed companies to accelerate their efforts in adopting robust sustainability practices. As the deadline approaches, companies will need to invest in necessary resources and expertise to meet the new requirements. This transition is not only vital for regulatory compliance but also for enhancing corporate reputation and competitiveness in the global market.

In conclusion, with the ISSB standards set to take effect in FY 2025, Singapore-listed companies face a pressing need to bridge the gap in their sustainability reporting capabilities. The move towards more stringent reporting standards reflects a broader trend towards greater corporate accountability and transparency in addressing ESG concerns.
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Deel, a global payroll and HR platform, has launched its AI Workforce, an integrated hub designed to streamline HR and payroll processes. This new feature allows businesses to create, manage, and deploy AI agents directly within the Deel platform, addressing the increasing demands on HR teams. The AI Workforce introduces seven specialised agents, each tailored to specific HR and payroll needs, such as recruitment, compliance, and scheduling.

The AI Workforce is a response to findings from the Society for Human Resource Management (SHRM) Workforce Report, which highlights that over half of HR professionals feel their teams are understaffed. Deel’s AI agents aim to alleviate these pressures by automating administrative tasks and providing real-time decision-making support.

Amongst the agents are the Hiring Guru, which optimises talent acquisition by recommending strategic locations for candidate sourcing, and the PTO Fairy, which manages time-off requests to ensure seamless operations. Other agents include the Border Buddy for compliance, the Schedule Sheriff for workforce planning, and the Payroll Detective for identifying payroll anomalies.

Launching today in Beta, Deel customers can immediately deploy these pre-built agents across various functions. The platform, supported by over 2,000 in-country experts, ensures compliance in more than 150 countries. Additionally, customers will soon be able to integrate agents from tools like Slack and Zapier, enhancing the platform’s adaptability.

Alex Bouaziz, Co-founder and CEO of Deel, stated, “AI agents mark a turning point for global work… It’s about baking AI into already-used and loved technology to remove the barriers that slow teams down.” Deel customers can join the AI Workforce waiting list to explore these innovations.
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Charles Taylor has announced the appointment of Gordon Tennant as Regional Director of Marine Technical Services in Asia, a move aimed at bolstering its marine capabilities across the region. Tennant, who will be based in Singapore, joins the company with more than four decades of experience in the maritime industry, including roles as a 1st Class Marine Engineer and Engineering Superintendent.

Tennant’s extensive background includes a tenure with Braemar (ABL) in both Singapore and London, as well as independent consulting on casualty investigations and technical surveys for Hull & Machinery underwriters, P&I Clubs, and shipowners. His appointment is expected to enhance Charles Taylor’s service offerings in the Asia Pacific, where the Marine Technical Services team operates in Australia, Singapore, Hong Kong, and China.

Phil Osmotherley, Global Managing Director of Marine Technical Services at Charles Taylor, expressed enthusiasm about Tennant’s addition to the team. “We are delighted to welcome Gordon to our leadership team in Asia. His technical depth and experience in both operational and consulting roles make him uniquely positioned to ensure that our regional team continues to deliver trusted insights to our clients amid an increasingly complex marine landscape,” Osmotherley said.

Charles Taylor, a global leader in loss adjusting and claims solutions, employs over 4,000 staff across more than 30 countries. The company’s Marine Technical Services division provides impartial surveying and consultancy services to a diverse range of maritime stakeholders. Tennant’s leadership is anticipated to further strengthen the company’s position in the region, offering comprehensive solutions for complex marine projects.
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HMLY, a prominent provider of packaging, design, warehousing, and storage solutions, has announced the renewal of its internationally recognised certifications, marking 16 consecutive years of ISO accreditation. This achievement underscores the company’s commitment to maintaining high standards of quality, safety, and compliance, crucial for clients in regulated sectors such as food manufacturing and medical devices.

The certifications include ISO 22000:2018 for Food Safety Management Systems, ISO 9001:2015 for Quality Management Systems, Good Manufacturing Practice SS 620:2016, 2021 Good Distribution Practice for Medical Devices, bizSAFE Level 3, and Sedex membership. These credentials affirm HMLY’s compliance across packaging, logistics, and distribution activities, confirming its ability to meet international quality and safety benchmarks.

HMLY’s consistent ability to uphold these certifications highlights its systematic approach to operational excellence. The company employs detailed process management, regular audits, and fosters a proactive safety culture throughout its organisation. Beyond packaging services in Singapore, HMLY offers integrated warehousing solutions, including warehouse storage for rent, ensuring safe handling and compliant distribution for industries with zero tolerance for safety or quality lapses.

Founded in 1993, HMLY initially provided packaging and label printing services and has since expanded to serve diverse industries, including food production, healthcare, and consumer goods. The company has invested in infrastructure, technology, and training to keep pace with evolving compliance requirements. Its renewed certifications, valid through 2026, reinforce HMLY’s position as a trusted partner adhering to global standards.
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Aspire, a leading finance platform for modern businesses, has unveiled Aspire Yield, a new investment solution designed to provide small and medium enterprises (SMEs) in Singapore with access to institutional-grade investment returns. This launch follows the acquisition of a Capital Markets Services Licence by AFT SG 2 Pte Ltd, part of the Aspire Group, from the Monetary Authority of Singapore in April.

Aspire Yield aims to address the challenges SMEs face in accessing competitive investment opportunities, which often require substantial minimum investments and complex processes. Through a partnership with Fullerton Fund Management, the solution offers investments in both Singapore and US dollars, allowing SMEs to earn up to 2.04% for SGD investments and 3.88% for USD investments. These rates significantly surpass traditional business savings rates, which typically range from 0.01% to 0.25% per annum.

Andrea Baronchelli, CEO and co-founder of Aspire, highlighted the potential for SMEs to optimise their working capital, noting that approximately 55% of funds now invested through Aspire Yield were previously idle in traditional accounts. “Aspire Yield changes this by giving every eligible Singapore business access to the same high-quality money market funds that are available to institutional investors,” Baronchelli stated.

Aspire Yield offers zero minimum investment requirements, next business day liquidity, and complete flexibility with no lockup periods. This allows businesses to manage their funds efficiently whilst maintaining operational flexibility. Bhavana Ravindran, founder and CEO of Earlybird AI, praised the platform’s simplicity, stating, “Aspire Yield is refreshingly simple—no minimums, no hidden terms, and no pressure to invest in something risky.”

Aspire continues to support over 50,000 companies globally, providing a comprehensive finance platform that includes international payments, treasury, and expense management solutions.
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Scoot, the low-cost subsidiary of Singapore Airlines, has partnered with OutSystems to overhaul its flight disruption management system using an AI-powered low-code platform. This transformation has more than doubled the development speed of Scoot’s internal communications application, significantly enhancing operational response times during flight disruptions. The new system, known as the Virtual Operations Command Centre (vOCC), was developed in just two and a half months, compared to the eight months typically required.

The vOCC application integrates multiple internal communication systems, facilitating real-time access to critical information and eliminating communication bottlenecks. This integration allows for effective cross-department coordination and better decision-making during flight disruptions. Key features include direct connection with Scoot’s Operations Command Centre and integration with downstream commercial applications, ensuring timely updates to passengers via email and text messages.

The adoption of OutSystems has led to a 90% increase in data visibility across stakeholders and a reduction of over 60% in manual processing time. Scoot can now track disruption metrics, such as flight retiming and the number of connecting passengers, enabling data-driven decisions to improve operational efficiency. Jaya Balaji MV, Vice President of Information Technology at Scoot, stated, “As a digital-first airline, we believe modern technology is essential to enhancing customer satisfaction whilst maintaining cost efficiency.”

Looking ahead, Scoot plans to further enhance its vOCC application by integrating AI capabilities for automated, personalised communication with passengers. This move underscores Scoot’s commitment to delivering reliable, quality services and elevating customer travel experiences. Leonard Tan, Regional Director at OutSystems, expressed pride in powering Scoot’s vision for smarter, more connected travel, setting new standards for service excellence in aviation.
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Global Mortgage Group is stepping up to meet the growing demand for bridging loans and private credit in Singapore, as the country’s bank lending experiences a slowdown. This shift in the financial landscape has prompted the company to enhance its offerings, providing alternative financing solutions to individuals and businesses affected by the tightening of traditional bank lending.

The slowdown in bank lending has created a gap in the market, with many borrowers seeking quick and flexible financing options. Global Mortgage Group is capitalising on this opportunity by offering bridging loans, which provide short-term funding solutions for those in need of immediate liquidity. These loans are particularly beneficial for property buyers who require funds to bridge the gap between the purchase of a new property and the sale of an existing one.

In addition to bridging loans, the company is also focusing on expanding its private credit offerings. This move aims to cater to the needs of businesses and individuals who may not meet the stringent criteria set by traditional banks. By providing more accessible financing options, Global Mortgage Group is positioning itself as a key player in Singapore’s evolving financial market.

The company’s proactive approach is expected to have significant implications for the local lending landscape. As more borrowers turn to alternative financing solutions, traditional banks may need to reassess their lending strategies to remain competitive. Global Mortgage Group’s efforts highlight the growing importance of flexible and innovative financial products in addressing the needs of a diverse clientele.
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CIMB Singapore has introduced CIMB FlexiPay, a pioneering loan product designed to provide small and medium-sized enterprises (SMEs) with flexible financing options. This innovative “pay-as-you-earn” loan, launched on 19 August, links repayments directly to a business’s daily revenue, allowing repayments only when revenue is earned. This approach aims to alleviate cash flow pressures for SMEs, a segment often underserved by traditional banking.

CIMB FlexiPay is the first of its kind in Singapore, offering a fully digital solution that eliminates the need for physical forms or document submissions. The loan’s key features include revenue-linked repayments, where a predetermined percentage of daily earnings is automatically deducted. For instance, if a business selects a 5% holdback rate and earns $1,000 in a day, $50 is repaid that day. On days without revenue, no repayment is required.

The loan also provides management with full certainty and transparency, requiring only a single upfront fee with no interest, prepayment, or late fees. Benjamin Tan, Head of Commercial & Transaction Banking at CIMB Singapore, stated, “With CIMB FlexiPay’s pay-as-you-earn structure, SMEs gain flexibility, transparency and control in managing their financing.”

This launch reflects CIMB’s commitment to rethinking traditional banking and supporting businesses with solutions that adapt to their cash flow realities. By removing traditional barriers and offering a seamless digital experience, CIMB aims to help SMEs grow with confidence. For more details or to apply, businesses can visit the CIMB FlexiPay website.
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