Regional News

Tradekins and Temasek Polytechnic have unveiled a new anti-money laundering (AML) training programme in response to escalating financial crime in Singapore. The initiative, launched on 22 July 2025, aims to equip compliance professionals with the necessary skills to combat increasingly sophisticated scams and navigate a complex regulatory environment.

Financial crime in Singapore reached unprecedented levels in 2024, with scam victims losing S$1.1b, highlighting the urgent need for enhanced AML frameworks. The Monetary Authority of Singapore’s recent consultation on AML/CFT regulation amendments further underscores the necessity for industry-wide upskilling.

The two-day course, ‘Anti-Money Laundering Essentials: Practical Strategies for Compliance and Risk Mitigation’, is accredited by SkillsFuture Singapore. It is designed to provide practical skills and strategic insights for identifying and mitigating financial crime risks. The course targets professionals in finance, fintech, and related sectors, integrating Tradekins’ industry expertise with Temasek Polytechnic’s applied learning approach.

Participants will engage in case-based training, focusing on real-world scenarios such as suspicious fund transfers and drafting Suspicious Transaction Reports. Tradekins CEO V Jesudevan emphasised the need for agile executives to embed resilience and strategic thinking into operations, whilst Dr Kwan Kian Hoong of Temasek Polytechnic highlighted the programme’s role in nurturing future leaders in governance and financial innovation.

The first intake is scheduled for 4 and 5 September 2025, supporting Singapore’s goal of cultivating a resilient talent pipeline in financial governance and compliance.
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Lum Chang Creations Limited (LCC) marked a robust debut on the SGX Catalist Board on 21 July 2025, with shares opening at S$0.30 and peaking at S$0.335, a 34% increase over its initial public offering (IPO) price of S$0.25. The public offer was oversubscribed by approximately 47.3 times, with 47.3 million shares applied for, generating application monies of about S$11.8m.

The company attracted significant interest from institutional investors, including Lion Global Investors, Ginko-AGT Alpha Fund VCC, Nikko Asset Management Asia, Asdew Acquisitions, and ICHAM Master Fund VCC. LCC raised total gross proceeds of S$12.25m, comprising S$8.75m from new shares and S$3.50m from vendor shares, resulting in a market capitalisation of S$78.75m post-IPO.

LCC, a leader in urban revitalisation, operates through subsidiaries such as Lum Chang Interior and Lum Chang Brandsbridge, providing services in conservation, restoration, interior fit-out, and addition and alteration works across various sectors, including retail, hospitality, and infrastructure.

Managing Director Lim Thiam Hooi expressed enthusiasm about the company’s market entry, stating, “We are delighted to begin trading on the SGX Catalist Board today, marking an important milestone in our journey as Singapore’s leading urban revitalisation specialist. This listing reflects the confidence our investors have in our proven capabilities across conservation, restoration, and interior fit-out works.”

With this successful listing, LCC aims to continue enhancing Singapore’s built environment and explore new opportunities for sustainable growth.
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Scientists from Singapore’s ASTAR Institute of Molecular and Cell Biology and Singapore General Hospital have developed an AI-powered scoring system, the Tumour Immune Microenvironment Spatial (TIMES) score, to predict the recurrence of hepatocellular carcinoma (HCC), the most common form of liver cancer. Featured on the cover of the scientific journal Nature, the TIMES score analyses the spatial distribution of immune cells and specific genes within liver tumour tissues, achieving an 82% accuracy rate in predicting recurrence risk.

The TIMES score’s ability to outperform existing staging methods allows doctors to identify patients likely to experience a recurrence soon after surgery, facilitating earlier and more targeted treatment. “In Singapore, up to 70% of liver cancer patients experience recurrence within five years,” said Joe Yeong, Principal Investigator at ASTAR IMCB. “TIMES offers a significant advancement in predicting these outcomes, enabling clinicians to intervene at the earliest possible stage.”

Denise Goh, Senior Research Officer at ASTAR IMCB, highlighted the transformative potential of the TIMES scoring system, stating, “By identifying patients at higher risk of relapse, we can proactively alter treatment strategies and monitoring, potentially saving more lives.”

The system was validated using samples from 231 patients across five hospitals and is now accessible through a free web portal for research use. Plans are underway to integrate TIMES into routine clinical workflows, with further validation studies scheduled at Singapore General Hospital and the National Cancer Centre Singapore later this year. Discussions with diagnostic partners aim to develop TIMES into a clinically approved diagnostic test kit.
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Singapore and Malaysia experienced contrasting export growth in June, according to a report by Nomura Global Economics. Singapore’s non-oil domestic exports (NODX) saw a surprising increase, although the rise was modest when excluding gold exports. In contrast, Malaysia’s total export growth remained negative, primarily due to a decline in electronics exports and softer re-exports following new government regulations on transshipments.

Singapore’s Deputy Prime Minister Gan Kim Yong is currently visiting the US to discuss sectoral tariffs, whilst Malaysia’s Trade Minister Zafrul is committed to negotiating a favourable trade deal with the US. Despite the current challenges, Nomura maintains its GDP growth forecasts for 2025 at 2.6% for Singapore and 4.4% for Malaysia, although both countries are expected to see slower growth in the second half of the year.

The report highlights that electronics export growth has been softening in both countries since a surge in April, attributed to export front-loading. Singapore’s gold exports surged, but pharmaceuticals exports remained weak. Meanwhile, Malaysia’s petroleum and LNG exports continued to drag on overall growth.

Malaysia’s export growth fell further to -3.5% year-on-year in June, with electronics exports dropping to 1.3% year-on-year. Import growth also moderated, leading to a rebound in the goods trade surplus to MYR8.6bn. In Singapore, re-export growth held up, indicating potential re-routing of transshipments.

Looking ahead, both countries are expected to face challenges in maintaining export growth, with ongoing trade discussions and sectoral tariffs likely to play a significant role in shaping future economic performance.
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The Monetary Authority of Singapore (MAS) has announced the appointment of Avanda Investment Management, Fullerton Fund Management, and JP Morgan Asset Management as the first batch of asset managers under the S$5b Equity Market Development Programme (EMDP). This move, unveiled on 21 July, involves an initial injection of S$1.1b into Singapore equities, aimed at bolstering the local market’s liquidity.

MAS, in collaboration with the Financial Sector Development Fund (FSDF), is also setting aside an additional S$50m to enhance the Grant for Equity Market Singapore (GEMS) scheme. This initiative is designed to strengthen the equity research ecosystem and support the growth of Singapore’s listed product suite. The GEMS scheme will now extend until 31 December 2028, with increased funding for research reports and new grants for research dissemination via digital media.

In a bid to further enhance investor protection, MAS has identified three focus areas: enabling legal action, facilitating self-organisation, and providing funding access. A consultation on these proposals is expected later this year. Additionally, MAS is reviewing other initiatives to improve Singapore’s equities market, including measures to enhance shareholder engagement and market-making mechanisms.

The liquidity boost is seen as a positive development for the stock market, with CGS International noting that it complements the broader efforts to improve research, listing support, and investor confidence. The next phase of asset manager appointments under the EMDP is anticipated by the fourth quarter of 2025.
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Ng Teng Fong General Hospital (NTFGH) has unveiled Project ENTenna, an AI-driven initiative aimed at revolutionising the management of allergic rhinitis and other chronic diseases. This pioneering programme, supported by the Ministry of Health and JurongHealth Fund, will track 6,000 patients from 2024 to 2026, providing personalised treatment strategies and improving medication adherence.

Project ENTenna establishes Asia’s first comprehensive AI-driven allergic diseases database, focusing on allergic rhinitis. The initiative integrates patient demographics, clinical notes, and symptom trends to offer insights into personalised patient management. Adjunct Associate Professor Ng Chew Lip, the principal investigator, highlighted the project’s potential to transform chronic disease management across Asia.

Preliminary findings from 1,000 patients indicate significant improvements: reduced 630 repeat visits in hospital clinics and a 45% increase in transitioning patients to primary care. AI-powered tools, including avatars and symptom trackers, have boosted treatment adherence by 25%.

The programme also explores biomolecular treatments, recognising the unique allergy patterns in Asians compared to Caucasians. Collaborating with A*STAR, the project aims to identify new therapeutic targets and understand varying patient responses to standard treatments.

Future plans for Project ENTenna include expanding into paediatric care and enhancing outreach to vulnerable groups, such as migrant workers. The initiative also aims to extend its platform to other chronic diseases, including dementia and stroke, fostering a comprehensive, data-driven healthcare ecosystem in Singapore and beyond.
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NTT DC REIT has made its trading debut on the Singapore Exchange (SGX) with a market capitalisation of approximately US$1.03 billion. Sponsored by NTT Limited, part of the Japanese IT and telecommunications giant NTT Group, the real estate investment trust (REIT) offers a portfolio of six institutional-grade data centres located in the United States, Austria, and Singapore. These centres boast a 94.3% occupancy rate and are valued at $1.6 billion.

The REIT is projected to deliver annualised distribution yields of 7.50% for the nine months ending in 2026 and 7.80% for the financial year 2026/27, based on an offer price of $1.00 per unit. This launch marks a significant addition to the SGX, broadening the scope of AI-related investments available to traders.

The debut of NTT DC REIT comes amidst a backdrop of strong performance in the industrial sector. The FTSE ST Industrials Index has outperformed the Straits Times Index (STI) in 2025, delivering a 17% total return. This growth is driven by global supply chain shifts, increased AI-driven productivity, and a robust pipeline of construction projects. Notably, ST Engineering has emerged as the top performer within both the FTSE ST Industrials Index and the STI, achieving a 78% total return.

As the market continues to evolve, the introduction of NTT DC REIT is expected to attract further interest in data centre investments, potentially influencing future market dynamics.
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UNIQLO has teamed up with Ya Kun Kaya Toast to unveil a special collection of six UTme! T-shirts, inspired by Singapore’s beloved breakfast traditions. Launching on 1 August, the collection merges UNIQLO’s LifeWear philosophy with Ya Kun Kaya Toast’s rich heritage, offering designs that pay homage to Singapore’s iconic breakfast staples and coffee culture.

The collection features three designs that capture Ya Kun Kaya Toast’s storied journey, highlighting scenes from its original Far East Square store. The remaining designs celebrate Singapore’s “Kopi” and “Teh” culture, showcasing milk types and sweetness preferences, inspired by Ya Kun’s ‘Order Coffee Like a Pro’ concept. This collaboration aims to celebrate the everyday moments that make life in Singapore unique, inviting wearers to express their love for the city and its culinary delights.

In addition to the T-shirts, exclusive UNIQLO x Ya Kun Kaya Toast novelties will be available from 1 to 10 August, coinciding with the SG60 celebrations. This initiative offers both locals and tourists a chance to partake in the festivities, further cementing the collaboration’s cultural significance.

Kuroda Yusuke, Store Operations Director of UNIQLO Singapore, and Jesher Loi, third-generation owner of Ya Kun Kaya Toast, spearheaded this partnership, which underscores a shared commitment to celebrating Singapore’s cultural heritage. The collection not only highlights familiar food items but also invites everyone to wear their pride for Singapore’s unique breakfast culture.
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Steelpaint GmbH has announced its first collaboration with Singapore-based Winning International Group, securing a contract to supply its advanced two-coat polyurethane-zinc coating system for the cargo holds of the Winning Kindness, a 184,000 deadweight tonnage (dwt) capesize bulk carrier. This partnership marks a significant expansion for the German manufacturer among major Asian shipowners.

The coating will be applied at a shipyard in Zhoushan, China, with drydocking scheduled for September 2025. The protective system will cover a 2,000 square metre area prone to aggressive corrosion, including the tank top and lower hopper/stool structure. Frank Müller, Director of Steelpaint, highlighted the importance of this contract, stating, “Owners are seeing the long-term value of switching to a system that not only reduces lifecycle costs but extends vessel service life.”

The decision to partner with Steelpaint follows a successful test patch trial on another vessel, Winning Rich, which demonstrated the coating’s superior performance. Dmitry Gromilin, Chief Technical Supervisor at Steelpaint, noted, “Our PU-zinc system offers reliable protection, especially in high-stress areas.”

The Stelpant product, developed in the early 1980s, has gained traction in the shipping industry for its ability to extend maintenance intervals and reduce steel renewal costs by an estimated $4.5 million (£3.7 million) per vessel over its operational life. Winning International plans to monitor the coating’s performance closely, with potential for wider adoption across its fleet.

This contract is Steelpaint’s second recent agreement with Singapore-based operators, following an April deal to supply Stelpant to 20 dry bulk vessels. With demand for dry bulk tonnage remaining strong, Steelpaint’s innovative coatings are increasingly sought after to minimise downtime and maintenance costs.
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Fullerton Fund Management has been selected by the Monetary Authority of Singapore to manage a Singapore equities mandate under the Equity Market Development Programme (EQDP). This initiative aims to enhance Singapore’s asset management and research ecosystem whilst increasing investor interest in the local equities market. Fullerton plans to launch a dedicated Singapore equities unit trust to attract investor assets from both local and international segments.

The EQDP focuses on asset managers with a strong emphasis on Singapore-listed equities and aims to broaden investor participation beyond large-cap stocks. Fullerton, a home-grown investment specialist with over 20 years of experience, aligns with these goals due to its robust track record and proven investment capabilities. The programme’s selection criteria also highlighted the importance of a commitment to the EQDP’s objectives.

Chief Executive Officer Jenny Sofian expressed gratitude for the trust placed in Fullerton, stating, “This appointment is a strong validation of our commitment to Singapore’s capital markets.” She emphasised Fullerton’s strategic intent to contribute to a more vibrant investment ecosystem by linking buy-side and sell-side communities and fostering broader investor interest in mid-cap Singapore public equities.

Chief Business Development Officer Mark Yuen noted the current market volatility, influenced by dollar weakness and global interest rate movements, as a factor driving demand for Singapore and SGD-denominated assets. He stated, “We will be bringing a solution to the market in line with the goals of the EQDP.”

Fullerton’s initiative under the EQDP is expected to play a significant role in strengthening Singapore’s fund management and research ecosystem, potentially leading to increased investor participation and market liquidity.
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