Regional News

Check Point Software Technologies has unveiled a groundbreaking automated threat intelligence platform in Singapore, marking a significant advancement in cybersecurity for organisations in Southeast Asia. The platform, designed to proactively detect, validate, and neutralise threats, integrates AI and machine learning with threat intelligence, Dark Web monitoring, and automated remediation.

The platform’s unique features include a first-of-its-kind integration of AI/ML-powered threat intelligence, local data residency, and automated Continuous Threat Exposure Management (CTEM). This approach addresses the increasing sophistication of AI-powered cyberattacks, such as phishing and email impersonation, which have been causing substantial global losses.

Rebecca Law, Country Manager for Check Point Software Technologies in Singapore, emphasised the importance of proactive security measures: “In today’s threat landscape, organisations simply cannot afford to depend on reactive protection. You have to start building your cybersecurity now, for the threats of tomorrow.”

The platform also aims to alleviate the burden on cybersecurity teams by automating the CTEM cycle, thus bridging the gap between offensive and defensive strategies. Abhishek Kumar Singh, Head of Security Engineering at Check Point Singapore, noted the challenge many organisations face: “Proper cybersecurity hygiene today requires Continuous Threat Exposure Management. However, most organisations do not have the unified and right tools to operationalise CTEM effectively.”

By hosting all metadata and sensitive information locally, the platform ensures compliance with Singapore’s regulatory requirements, providing an added layer of security. The platform is now available for ASEAN customers, promising to enhance cybersecurity resilience and operational efficiency across the region.
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Fenergo has launched its FinCrime Operating System, a cutting-edge platform designed to tackle the rising costs and complexities of regulatory compliance in the financial sector. The system, powered by Agentic AI, promises to reduce operational costs by 93% and improve document processing times by nearly three-quarters.

This development comes as a response to a global study revealing that 90% of banks in Singapore have experienced client losses due to onboarding delays, a 35% increase from the previous year.

The FinCrime OS integrates six autonomous AI agents to streamline client lifecycle management, including onboarding, know your customer (KYC) processes, and transaction monitoring. These agents automate tasks, provide real-time insights, and maintain governance, allowing financial institutions to handle more clients with fewer errors. Marc Murphy, CEO of Fenergo, stated, “Fenergo’s vision is to drive unprecedented change by transforming compliance from a reactive cost-centre into a strategic competitive advantage.”

The system’s Command Centre offers personalised dashboards and data analytics, ensuring complete governance and control over entity data in line with global AI regulations. Keith Redmond, Chief Product Officer at Fenergo, highlighted the transformative potential of the system, saying, “This is where agentic AI will be a game changer, allowing for faster onboarding, fewer manual errors, and lower compliance risks.”

As regulatory scrutiny intensifies globally, Fenergo’s FinCrime OS positions itself as a vital tool for financial institutions to navigate the challenges of compliance efficiently and strategically.
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Karpowership, in collaboration with Mitsui O.S.K. Lines (MOL) and Seatrium, has successfully undocked the KARMOL LNGT Powership Antarctica, a Floating Storage Regasification Unit (FSRU), in Singapore. This event marks a significant step in KARMOL’s mission to provide flexible and clean power solutions globally. The undocking ceremony was attended by senior representatives from the involved companies, highlighting the strategic importance of this development.

The KARMOL LNGT Powership Antarctica will now join KARMOL’s fleet, which aims to deliver scalable and quickly deployable energy solutions to regions in need. Doğan Karadeniz, Founding Partner and Executive Board Member of Karpowership, stated, “This milestone showcases the strength of our partnerships and the growing demand for our innovative and cleaner energy solutions.”

Karpowership’s LNG-to-Power initiative, which began in the early 2000s, addresses the dual challenges of energy access and the transition to sustainable fuels. With a fleet of 50 Powerships operating in 16 countries, Karpowership is expanding its floating infrastructure to meet rising electricity demands driven by industrialisation and population growth.

The event also underscored Karpowership’s commitment to sustainability, now consolidated under its new energy transition arm, Kinetics. This strategic direction integrates floating infrastructure across LNG, new fuels, and renewable energy assets, offering a fast-track route to energy security and reducing reliance on coal and diesel generators.
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RHB Bank’s latest Global Economics and Market Strategy Report, authored by Barnabas Gan, Group Chief Economist and Head of Market Research, suggests a promising outlook for Singapore’s industrial production (IP) growth in 2025. The report highlights a potential upside risk to the initial full-year IP growth forecast of 0.5%, driven by the de-escalation of tariffs.

April’s industrial production in Singapore rose by 5.9% year-on-year, surpassing Bloomberg’s estimate of 2.5% and following a revised 6.8% growth in March. This increase is attributed to a temporary boost in exports due to front-loading during a 90-day tariff pause. However, Gan notes that ongoing trade uncertainties and weaker global demand may continue to challenge the manufacturing sector.

The report underscores the importance of monitoring trade developments, as they play a crucial role in shaping Singapore’s economic landscape. With the easing of tariffs, there is optimism for improved industrial performance, although caution remains due to external economic pressures.

Looking ahead, RHB Bank’s analysis suggests that whilst the current environment presents opportunities for growth, the manufacturing sector must navigate the complexities of global trade dynamics. The potential for increased industrial production could bolster Singapore’s economy, provided that trade tensions continue to ease.
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DBS Group Research anticipates challenges for SATS in FY26 due to fragile cargo demand and trade contraction, with a strategic pivot expected in FY27.

The FY25 results, excluding one-off items, were in line with expectations, providing a stable financial foundation.

Despite some relief from the suspension of US tariffs, DBS Group Research warns that the demand for cargo remains fragile, which could impact the company’s performance in FY26.

The company has adjusted its net profit forecasts for FY26 and FY27, reducing them by 14% and 8%, respectively, due to anticipated trade contraction and limited opportunities for trade diversion.

DBS Group Research maintains a “BUY” recommendation, albeit with a revised target price of $2.55 (SGD3.50).

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CSC Holdings, a Singapore-based foundation and geotechnical engineering specialist, has announced a return to profitability for the financial year ending 31 March 2025. This turnaround is attributed to heightened construction activity, which significantly improved the company’s operating performance in its core business within Singapore.

The company reported a 10.6% increase in group revenue, reaching $246m (S$337.8m), driven by the rising demand for construction services. This growth has resulted in a net profit attributable to shareholders of $1.38m (S$1.9m), a notable improvement from the net loss recorded in the previous financial year.

CSC Holdings maintains a healthy order book valued at $218m (S$300m) as of 30 April 2025, with the majority of these projects expected to be completed within the next 12 months. The company remains cautiously optimistic about its future prospects, citing sustained demand for construction services and a robust pipeline of infrastructure and public sector projects in Singapore.

The company’s financial results highlight a significant recovery, with a gross profit margin increase to 10.5% from 4.7% the previous year. This positive shift underscores CSC Holdings’ ability to capitalise on the growing construction sector in Singapore.

As CSC Holdings looks ahead, its focus on supporting large-scale projects positions it well to continue benefiting from the ongoing demand for construction services. The company’s strategic outlook and strong order book suggest a promising trajectory for the coming year.
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The Healthy Living Festival North West is set to transform the Singapore Turf Club into a hub of fitness and fun from 30 May to 1 June. Organised by the North West Community Development Council (CDC), the event aims to commemorate SG60 with a vibrant sports carnival that includes a variety of lifestyle and wellness activities. With an expected turnout of 10,000 residents, the festival seeks to foster community bonds and promote holistic wellness for all ages.

The festival will be hosted by Alex Yam, Mayor of the North West District, and will feature special guests such as Ong Ye Kung, Minister for Health, and other Grassroots Advisers. The event is free and open to the public, offering a diverse range of activities across more than 10 curated zones.

Participants can enjoy high-intensity workouts like Kpop Fitness and Zumba, or explore mindfulness activities in the ESports & Wellness Zone. For those seeking a more relaxed experience, the festival offers live music, outdoor movie screenings, and a unique Sunset Yoga session led by instructor Jimin Choi.

The festival is part of the SG60 Healthier Together Movement, which has already seen residents collectively achieve 60,000km through various sports. Lih Ming Construction has pledged $60,000 to support this initiative, further encouraging community participation.

Ritu Rishi, 47, a member of the North West Running Club, exemplifies the festival’s spirit. Her journey from a novice runner to a half-marathon enthusiast highlights the community’s supportive environment. The festival is open to all, inviting attendees to join the North West Healthy Living Club and continue their wellness journey.
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CapitaLand Ascendas REIT Management Limited has announced the acquisition of two prime properties in Singapore for approximately S$700m. The properties, 9 Tai Seng Drive and 5 Science Park Drive, are fully leased to reputable tenants in the technology sector, enhancing the REIT’s income resilience and increasing its Singapore portfolio to 67% of total assets under management.

The acquisitions are strategic moves to strengthen CapitaLand Ascendas REIT’s (CLAR) foothold in Singapore, a key market for the REIT’s multi-asset portfolio. William Tay, Executive Director and CEO of the REIT Manager, stated, “These strategic additions will increase the share of Singapore in CLAR’s portfolio to approximately 67% of total assets under management.”

Both properties are modern and well-located, with 9 Tai Seng Drive being a Tier III colocation data centre and 5 Science Park Drive serving as a premium business space. The properties are expected to contribute positively to long-term returns, with potential for organic growth through rental uplifts and asset enhancement opportunities. The acquisitions are also expected to be accretive to the distribution per unit (DPU) for unitholders, with a projected DPU accretion of 1.36% for the financial year ended 31 December 2024.

The acquisition of 9 Tai Seng Drive will expand CLAR’s data centre assets under management by 32.8%, whilst 5 Science Park Drive will reinforce its market leadership in the Singapore Business Space and Life Sciences segment. Both properties are fully committed, with 5 Science Park Drive serving as the regional headquarters for Shopee, a major e-commerce platform.

These acquisitions align with CLAR’s strategy to leverage global growth trends in technological advancement and digital transformation, diversifying and strengthening its customer base.
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OCBC has announced significant leadership changes within its Global Wholesale Banking division, effective 1 October 2025. Elaine Heng, currently the Group Chief Strategy and Transformation Officer, will take over from Linus Goh as Head of Global Commercial Banking. Goh, who has been with OCBC since 2004, will retire on 30 September 2025. These changes aim to bolster OCBC’s position in commercial banking and global financial institutions.

Under Goh’s leadership, OCBC’s commercial banking has become a leading force in Singapore, Malaysia, Hong Kong, and Indonesia, serving one in two SMEs in Singapore. He has been instrumental in focusing on digitalisation, ecosystems, sustainable finance, and internationalisation, contributing to a nearly 40% profit growth in the global financial institutions business from 2022 to 2024.

Heng, who joined OCBC in 2024, has been pivotal in shaping the bank’s strategic roadmap. Her previous roles include CEO of Retail Business and Deputy Group CEO at FairPrice Group, where she led a significant digital transformation. “Elaine is taking over a strong Commercial Banking team built by Linus over the last 17 years,” said Tan Teck Long, Head of Global Wholesale Banking.

Tan Yuen Siang, who has led the Global Financial Institutions business since 2021, will join the Global Wholesale Banking Leadership Team. Group CEO Helen Wong praised Goh’s contributions, stating, “His thought leadership and advocacy have helped shape industry standards and inspired progress across the financial ecosystem.”

These leadership changes are expected to drive OCBC’s next growth phase, focusing on digital and sustainability-led initiatives.
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The International Air Transport Association (IATA) has announced the appointment of Sheldon Hee as the new Regional Vice President for Asia-Pacific, effective 1 June 2025. Based in Singapore, Hee will oversee IATA’s operations across 39 countries, representing 53 member airlines in a region poised for significant growth in passenger demand.

With over 25 years of experience in the airline industry, Hee has held various management roles at Singapore Airlines in multiple countries, including Japan, Switzerland, and the UK. Before joining IATA, he served as Vice President for Partnerships and International Relations at Singapore Airlines. Hee expressed his enthusiasm for the new role, stating, “I am humbled and privileged to continue contributing at an industry level by leading IATA’s activities in Asia-Pacific.”

The Asia-Pacific region is expected to see the fastest-growing passenger demand over the next 20 years. In 2024, it accounted for a third of global passenger traffic, and projections indicate it will contribute more than half of global passenger traffic in the coming decades. Hee aims to collaborate with member airlines, governments, and partners to support the region’s aviation development.

Hee holds a Bachelor of Applied Science and a Master of Science from Nanyang Technological University, as well as a Master of Business Administration from the University of Oxford. His appointment follows the interim leadership of Dr Xie Xingquan, who managed the region after Philip Goh’s retirement in April 2024.
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