Regional News

Sogni AI, a Singapore-based image generation platform, has officially launched its decentralised platform on mainnet, boasting 375,000 users and over 112 million images created. The platform, similar to DALL-E and Midjourney, is now fully operational, rendering 1.85 million images daily. This significant milestone is supported by an additional $500,000 investment from Tezos, a blockchain platform known for its open-source and self-upgradable capabilities.

The launch of Sogni AI is further bolstered by its listing on some of the world’s largest cryptocurrency exchanges, including Kraken, MEXC, and Gate.io. This move is expected to enhance the platform’s visibility and accessibility in the global market. By utilising a decentralised GPU network, Sogni AI aims to revolutionise the AI image creation landscape, offering users a robust and scalable solution.

The platform’s integration with Tezos highlights its commitment to leveraging cutting-edge blockchain technology to support decentralised applications and assets. This partnership not only provides financial backing but also aligns Sogni AI with a network that prioritises innovation and sustainability in the blockchain space.

As Sogni AI continues to expand its reach, the listing on major exchanges is anticipated to attract a broader user base and foster further growth. The platform’s successful launch marks a pivotal moment in the AI and blockchain industries, setting the stage for future advancements and collaborations.
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A 30-year-old Operationally Ready National Serviceman tragically passed away after collapsing outside Maju Camp on 30 June 2025. The serviceman had just completed a National Service Fitness Improvement Training (NS FIT) session at the Maju Fitness Conditioning Centre, which ran from 1850 to 2000 hours. He reported feeling well to fitness instructors and left the camp at 2011 hours.

Shortly after leaving, a passer-by witnessed his collapse and promptly called for an ambulance. The Singapore Civil Defence Force (SCDF) was alerted at 2016 hours, with the ambulance arriving at 2025 hours. Despite resuscitation efforts both on-site and during the journey to the National University Hospital, he was pronounced dead at 2154 hours.

In response to this incident, the Singapore Armed Forces (SAF) has initiated a safety pause on NS FIT training until 4 July 2025. This pause aims to review existing safety procedures and protocols, as well as to reinforce the importance of safety among soldiers. The SAF is also providing support to the serviceman’s family during this difficult time, extending their deepest condolences.

Further investigations are underway to determine the exact cause of death.
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The Monetary Authority of Singapore (MAS) has announced the imposition of composition penalties totalling $960,000 on five major payment institutions for breaches of anti-money laundering and countering the financing of terrorism requirements. This enforcement action, covering the period from April to June 2025, highlights MAS’s commitment to maintaining the integrity of Singapore as a financial centre.

The penalties were levied on Remsea Pte Ltd, Arcade Plaza Traders Pte Ltd, J-Dee Remittance Services Pte Ltd, Mobile Community Tech Pte Ltd, and OxPay SG Pte Ltd. These firms were found to have violated MAS’s stringent regulations designed to combat money laundering and terrorism financing.

MAS employs a range of enforcement actions, including reprimands, prohibition orders, and civil penalties, to deter misconduct and uphold regulatory standards. In this instance, the composition penalties serve as a financial deterrent and a reminder of the importance of compliance with MAS’s regulations.

The enforcement actions underscore MAS’s proactive approach in safeguarding Singapore’s reputation as a trusted financial hub. By imposing these penalties, MAS aims to deter similar breaches in the future and ensure that financial institutions adhere to the highest standards of regulatory compliance.

For further details on these regulatory and enforcement actions, MAS directs interested parties to its Enforcement Actions page on their website.
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In celebration of Singapore’s 60th year of independence, the government has announced the introduction of SG60 Vouchers, a key component of the SG60 Package unveiled in Budget 2025. From 1 July 2025, Singaporeans aged 60 and above can claim $800 in vouchers, whilst those aged 21 to 59 will receive $600 starting 22 July 2025. This initiative recognises the contributions of all Singaporeans and aims to share the benefits of the nation’s progress.

The vouchers, which can be used at businesses accepting CDC Vouchers, are split equally for spending at heartland merchants, hawkers, and supermarkets. The staggered release ensures seniors receive timely assistance. The initiative is led by Low Yen Ling, Senior Minister of State for Trade and Industry & Culture, alongside other district mayors and government agencies.

The SG60 Vouchers also feature six specially designed postcards by artists with different abilities, reflecting the inclusive spirit of the celebrations. Assistance for claiming the digital vouchers will be available at Community Centres and SG Digital Community Hubs, with volunteers from public agencies and educational institutions providing support.

The scheme not only honours citizens but also supports local businesses by encouraging spending at neighbourhood shops and eateries. The vouchers have an extended validity until 31 December 2026, allowing Singaporeans to use them for daily needs whilst bolstering the local economy. Residents are urged to remain vigilant against scams, with official updates available on the SG60 Vouchers website.
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Bain & Company has announced the appointment of Shintaro Okuno as the new Regional Managing Partner for Asia-Pacific (APAC), effective 1 July. With over 20 years at Bain, Okuno has led significant transformation projects across various industries, including industrial goods, technology, and consumer products. He succeeds Satish Shankar, who has led the APAC region since April 2019.

Okuno’s appointment underscores Bain’s commitment to its rotational servant leadership model, which has been integral to its talent and succession planning. Christophe De Vusser, Bain’s Worldwide Managing Partner, expressed confidence in Okuno’s leadership, highlighting his “inclusive style, calm presence, and sharp client instincts.” Okuno, who previously served as Chairman of Bain’s Japan business, will split his time between Tokyo and Singapore.

During Shankar’s tenure, Bain’s APAC region navigated challenging macroeconomic conditions, including the COVID-19 pandemic. Under his leadership, the region expanded into new markets and strengthened client relationships. Shankar will return to client service after a brief hiatus, focusing on strategy and transformation projects.

Okuno expressed his gratitude for the trust placed in him, stating, “I look forward to partnering with our APAC teams to deliver exceptional results in meaningful ways.” The leadership transition is being managed collaboratively by Okuno and Shankar, ensuring a smooth handover. Bain & Company, a global consultancy, continues to drive change and redefine industries with its integrated expertise and commitment to client success.
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Mizuho Bank, one of Japan’s leading financial institutions, has joined forces with SGX FX, a top global exchange-backed over-the-counter (OTC) foreign exchange platform. As of June 2025, Mizuho Bank has begun streaming its prices on the SGX FX platform, aiming to enhance the global FX ecosystem by leveraging its extensive expertise and robust pricing capabilities.

This strategic partnership is set to provide investors, financial institutions, and global traders with increased transparency, efficiency, and liquidity. Takumi Okubo, Deputy General Manager for EFX Sales at Mizuho Bank, expressed enthusiasm about the collaboration, stating, “This partnership marks a significant step towards furthering our commitment to contributing to a more integrated and efficient global financial market.”

Jean-Philippe Malé, CEO of SGX FX, echoed this sentiment, noting that the partnership aligns with SGX FX’s mission to deliver exceptional market access and innovative trading solutions. The collaboration is expected to elevate the FX trading experience and foster greater market participation.

SGX FX is renowned for being among the top five global exchange-backed OTC FX platforms, offering a gateway to the global FX ecosystem. It is anchored by the world’s most liquid Asian FX futures exchange and features cutting-edge FX technology and workflow solutions from BidFX and MaxxTrader.

Mizuho Bank, part of the Mizuho Financial Group, Inc., is a global banking leader with a vast international network. The bank is the 17th largest in the world by total assets, according to S&P Global 2024, and employs 65,000 people across 36 countries. This partnership with SGX FX opens new opportunities for both entities to explore synergies that benefit the global financial ecosystem.
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Kahoot!, the global learning and engagement platform, has officially launched its Asia Pacific (APAC) hub in Singapore, aiming to bolster its rapid growth across the region. Announced at a media event on 30 June 2025, the new hub is set to support educators, HR leaders, and learners with curriculum-aligned teaching, onboarding, upskilling, and internal communications.

The decision to establish the hub in Singapore comes as Kahoot! experiences a surge in demand for digital learning tools, with over 250 million non-unique participants in APAC over the past year. Ahteram Uddin, Vice President Commercial, APAC at Kahoot!, highlighted Singapore’s strategic position as a gateway for regional growth, stating, “This marks a key step in expanding the reach of our solutions to more educators, students, and professionals across APAC.”

Kahoot!’s platform, which has hosted over 12 billion participants globally since its launch in 2013, is increasingly being used in classrooms and workplaces. In Southeast Asia and Japan, over 750,000 teachers utilise Kahoot! to enhance academic performance. The platform’s appeal is further boosted by AI-powered features and content partnerships with renowned providers like Disney and Microsoft.

The Singapore hub will focus on transforming learning experiences through interactive tools and premium content, whilst also localising its offerings in regional languages. Uddin noted, “Singapore is one of the most forward-looking markets in the world when it comes to lifelong learning and digital transformation.”

The launch event featured testimonials from users like Sabina Mammadova, a science teacher, and Billy Yip, an HR professional, who shared how Kahoot! has improved engagement and streamlined learning in their respective fields. As Kahoot! continues to expand its footprint, the Singapore hub is poised to play a pivotal role in the company’s APAC strategy.
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Chaucer Group, a global speciality (re)insurance company, has announced the appointment of Emily Brand as Deputy Class Underwriter for Energy in its Singapore office. Brand, who brings over a decade of experience in the insurance industry, will report to Scott Ho and play a crucial role in expanding Chaucer’s energy business across the Asia-Pacific (APAC) region.

Brand’s extensive background includes her recent position as an Energy Underwriter at AEGIS, where she advanced from an Underwriting Assistant role. Her career also includes stints at Markel and Lloyd’s, focusing primarily on marine and energy insurance. Her new responsibilities at Chaucer will involve supporting the underwriting strategy and broadening the company’s reach in the APAC energy insurance market.

Scott Ho, who leads the Energy team in Singapore, expressed enthusiasm about Brand’s appointment, stating, “Chaucer recognises Asia Pacific as a vital part of the global re/insurance market and is dedicated to bringing in people who will add value to our clients there. Emily’s experience in the energy market will play a huge role as we look to expand our energy offering across the region.”

Chaucer, a member of the China Re Group, is known for its bespoke approach to (re)insurance, leveraging the expertise of its teams to support business activities worldwide. Brand’s addition to the Singapore office underscores Chaucer’s commitment to strengthening its presence in the APAC region and enhancing its energy sector offerings.
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SATS Ltd., a prominent player in aviation cargo and ground handling services, has announced an increase in the retirement age to 64 and the re-employment age to 69 for its Singapore-based employees. This policy, effective immediately, is set to benefit more than 700 employees who will reach these ages by 2025, ahead of the Singapore Government’s legislative changes.

The initiative is part of SATS’ commitment to fostering an inclusive and future-ready organisation. Chief Human Capital Officer Tan Chee Wei highlighted the importance of recognising and retaining the contributions of experienced employees. “This progressive move, undertaken in collaboration with our union partners, reflects our dedication to building an inclusive, future-ready organisation and supporting our mature employees who wish to continue contributing their skills and experience,” she stated.

SATS has also introduced job redesign initiatives to enhance long-term employability, aligning roles with evolving business needs and promoting employee engagement. The company is committed to continuous learning and development, ensuring all employees, regardless of age, are equipped to meet changing job requirements. The SATS Employee Development Programme offers training on growth mindset and workplace diversity, whilst roles requiring digital skills receive targeted training.

Govinden Sathasivam, General Secretary of SATS Workers’ Union, expressed support for the policy, noting the assurance of job security it provides to senior workers. Cham Hui Fong, Deputy Secretary-General of NTUC, emphasised the importance of such initiatives in maintaining a dynamic workforce as Singapore strengthens its position as a regional aviation hub.
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The Monetary Authority of Singapore (MAS) has announced proposals to improve the clarity of Product Highlights Sheets (PHS) and streamline the framework for complex investment products. These changes are designed to empower investors to make informed decisions whilst ensuring those needing extra guidance receive appropriate support.

MAS’s proposed enhancements to PHS include revised templates that highlight key product features on the first page and employ a “question and answer” format to engage investors. Complex products will be marked with a red label, signalling the need for professional advice. Additionally, Investment-Linked Policies will now require a PHS.

The complex products framework, established in 2012, categorises products as “complex” or “non-complex” and mandates distribution safeguards for complex products. MAS is considering removing the requirement for mandatory financial advice, except for those needing additional protection, due to improved investor access to product knowledge. Instead, a Product Knowledge Assessment (PKA) will be introduced as a self-assessment tool to evaluate an investor’s understanding of complex products.

MAS is also proposing targeted safeguards for “Selected Clients” who require added protection. These clients will undergo a mandatory financial advisory process, ensuring they have access to safeguards such as having a trusted individual present during advisory sessions and a call-back process to confirm investment decisions.

MAS is seeking feedback on these proposals, with comments due by 1 September 2025. This initiative reflects MAS’s commitment to adapting its frameworks to the evolving needs of Singapore’s retail investors.
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