Regional News

Singapore-based digital travel platform Agoda is celebrating World Bicycle Day on 3 June by highlighting five exceptional cycling destinations in Asia.

These locations, ranging from the serene landscapes of Hokkaido, Japan, to the historic allure of Sukhothai, Thailand, offer diverse experiences for cycling enthusiasts. With cycling tourism rapidly growing in the Asia-Pacific region, Agoda aims to make planning these adventures easier with its extensive travel deals.

Cycling tourism is gaining traction globally, with the Asia-Pacific region leading the trend. Krishna Rathi, Senior Country Director at Agoda, noted, “World Bicycle Day is the perfect occasion to celebrate the joy of cycling and the incredible destinations Asia has to offer.” Agoda’s curated list includes Hokkaido, Japan, known for its stunning landscapes and diverse cycling routes, and Luang Prabang, Laos, where cyclists can explore historic streets and ancient temples.

Sun Moon Lake in Taiwan offers well-maintained trails with breathtaking views, whilst Sukhothai, Thailand, provides a journey through ancient ruins and temples. Hoi An, Vietnam, presents scenic routes through rice paddies and vibrant villages. Agoda’s platform, with over 5 million holiday properties and extensive flight and activity options, supports travellers in planning seamless cycling trips.

Agoda’s offerings ensure that travellers can enjoy cultural immersion and natural beauty whilst cycling through these destinations. For more information and the best deals, Agoda encourages users to explore their mobile app.
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Ascentium, a global business services platform based in Singapore, has unveiled its new Centre of Excellence, Ascentium Max, in Kuala Lumpur. This state-of-the-art shared service centre is designed to optimise internal operations and bolster the company’s growth throughout Asia, with plans to venture into emerging markets. Lennard Yong, Group CEO of Ascentium, highlighted the strategic importance of the centre, stating it will be “a cornerstone for our expansion plans into new markets.”

The Kuala Lumpur hub will function as a non-client-facing shared service centre, consolidating key processes to improve operational effectiveness. It will serve as a hub for specialised expertise and best practices, enabling Ascentium’s branches across the Asia Pacific region to focus on strategic priorities whilst ensuring seamless management of essential back-end operations.

Ascentium Max will be staffed by a team of highly skilled professionals covering several critical business functions, including company secretarial services, Know Your Customer (KYC) processes, accounting and tax services, and payroll processing. By centralising these functions, the centre aims to deliver enhanced efficiency, improved accuracy, cost optimisation, consistent quality, and scalability for future business expansion.

The establishment of Ascentium Max marks a significant step in Ascentium’s commitment to operational excellence and regional growth. As the company continues to expand its footprint, the new centre is expected to play a pivotal role in supporting its Asia Pacific operations and ensuring a seamless transition into new markets.
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Submarine cables, the unseen backbone of global internet connectivity, are playing a pivotal role in Asia’s digital transformation. The SEAH2X cable project, a collaboration between China and ASEAN countries, is set to enhance regional connectivity by linking China with the Philippines, Singapore, Malaysia, and beyond. With a design capacity of 160 terabits per second, SEAH2X is not just infrastructure—it’s a digital lifeline.

The South China Sea has become a hub for these vital communication lines, with over 15 international submarine cable systems either operational or under construction, spanning more than 80,000 kilometres. Chief Engineer Mu Chunbo emphasised the importance of these cables, stating, “Submarine cables are more than business—they’re shared arteries connecting societies.”

The SEAH2X system, spearheaded by a consortium including China Mobile International, China Unicom Global, the Philippines’ Converge ICT, and Malaysia’s PPTEL, is expected to be operational by 2025. In September 2024, the cable made landfall in Bauang, La Union, on the northern coast of the Philippines. Converge CEO Dennis Anthony Uy highlighted the project’s significance, saying it will “strengthen regional connectivity and meet bandwidth demand for the next 10 to 15 years.”

Despite the challenges of laying cables through areas with maritime disputes, international cooperation remains crucial. Ding Hongqing, Deputy Director of the Planning and Construction Department at China Mobile, noted, “Whatever the external environment is like, we’ll always maintain an open and cooperative mindset.”

CGTN’s documentary, “Catching a Wave 2,” showcases how these efforts are quietly transforming the region, underscoring the importance of cooperation and connectivity in the digital age.
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Shareholder activism in Asia has reached unprecedented levels, with over 200 companies targeted in both 2023 and 2024, according to Diligent’s latest report, “Shareholder Activism in Asia 2025”. This marks a significant increase from 134 companies in 2021, highlighting a growing trend towards corporate governance reforms across the region.

Japan and South Korea have emerged as the focal points of this activism. Japan alone witnessed 108 campaigns in 2024, largely driven by local activists and robust governance reforms. South Korea followed with 78 campaigns, a nearly fivefold increase from 2018, as new activist players and retail investors, facilitated by online platforms, have begun to influence campaign dynamics.

In Singapore, shareholder activism has remained steady year-on-year, primarily focusing on board-related demands such as appointments and removals. Despite the modest overall volume compared to its regional counterparts, Singapore’s campaigns have not yet seen major structural changes in 2025.

Hong Kong and Singapore both experienced a peak in activism in 2024, though the focus remains on routine governance and personnel issues. The report underscores the evolving landscape of shareholder activism in Asia, driven by both traditional and new players, and its potential to reshape corporate governance practices in the region.
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NEC Corporation is set to unveil its latest retail solutions at the NRF 2025 Retail’s Big Show Asia Pacific (NRF 2025 APAC) from 3 to 5 June at the Marina Bay Sands Expo in Singapore. This marks NEC’s first participation in the APAC event, which is organised by the National Retail Federation, a prominent retail conference host with a 114-year history.

NEC’s exhibition will focus on leveraging data and artificial intelligence (AI) to drive digital transformation in the retail sector. The company aims to address societal and business challenges by enhancing customer experiences and improving employee efficiency. Among the technologies on display will be the NEXTGen POS Omni Software, a space-saving point-of-sale system with 13 modular combinations, designed to meet diverse retail needs. This system utilises the latest cloud technology for flexible application in both retail and dining environments.

Additionally, NEC will present its Customer Experience x Data Analytics (CxD) solutions, which integrate offline and online data with e-commerce for advanced analytics. This integration is intended to enhance the customer journey by utilising AI-driven attribute expansion. NEC will also showcase its ITSDSP Solution, an integrated management platform for digital stores that centralises retail operations and streamlines processes such as store openings, equipment management, and inventory control.

NEC’s participation in NRF 2025 APAC underscores its commitment to creating a more enriched and sustainable future through innovative technology. The company’s solutions aim to facilitate smooth business transformations and optimise operations, ultimately contributing to a more sustainable world.
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Singapore’s Department of Statistics has reported a 6.1% increase in business receipts for the services sector, excluding wholesale trade, retail trade, accommodation, and food services, in the first quarter of 2025 compared to the same period last year.

The finance and insurance, as well as real estate industries, were the standout performers, registering the largest growth.

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ST Engineering and the Infocomm Media Development Authority (IMDA) have introduced the SME CyberResilience programme, aimed at bolstering cybersecurity awareness and resilience among Singapore’s small and medium-sized enterprises (SMEs). Announced at the ATxEnterprise event by Senior Minister of State for Digital Development and Information, Tan Kiat How, the programme aligns with the Digital Enterprise Blueprint to enhance digital safety and drive further digitalisation.

The initiative will provide up to 2,000 SMEs with a complimentary Cyber Threat Scanning service, alongside expert guidance to navigate evolving cyber threats. This comes in response to findings from the Singapore Cyber Health Report, which revealed that 80% of local businesses face breaches annually, with 99% experiencing business impact. Given that SMEs constitute 99% of Singapore’s enterprises, enhancing their cybersecurity is crucial for the nation’s digital economy.

Goh Eng Choon, President of Cyber at ST Engineering, stated, “Through the various initiatives like those offered under the SME CyberResilience programme, we are supporting SMEs in improving their cyber posture as part of our broader mission to fortify the entire ecosystem.”

The programme includes a one-time Cyber Threat Scanning Service for ten endpoints, a comprehensive threat report, and access to a cyber analyst. Additionally, ST Engineering will host events to educate SMEs on current threats and defence strategies. Interested businesses can register via IMDA’s CTO-as-a-Service platform.

Johnson Poh, Assistant Chief Executive of IMDA, emphasised the importance of cybersecurity for SMEs, noting, “It is crucial that SMEs remain resilient against the growing cyber threats we face.”

This initiative underscores a long-term commitment to enhancing the cybersecurity landscape for SMEs, thereby strengthening Singapore’s broader digital and economic ecosystem.
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Singapore is set to accelerate its technological advancement with new partnerships announced at the ATxEnterprise event. The Infocomm Media Development Authority (IMDA) has teamed up with Alibaba Cloud, Prudential Singapore, and ST Engineering to enhance the digital capabilities of small and medium enterprises (SMEs) through the Digital Enterprise Blueprint (DEB). This initiative aims to integrate cutting-edge technologies such as artificial intelligence (AI), cloud solutions, and cyber resilience into the operations of over 6,000 enterprises.

The collaboration with Alibaba Cloud will support up to 3,000 SMEs in enhancing their cloud and AI capabilities through the Digital Accelerator Programme. Meanwhile, Prudential Singapore will focus on promoting GenAI adoption with educational workshops and explainer videos tailored for SMEs. ST Engineering will launch the SME CyberResilience Programme, offering complimentary cyber threat scanning services to 2,000 SMEs.

For digitally mature enterprises, IMDA is expanding its GenAI x Digital Leaders initiative with AWS and Microsoft, aiming to support over 1,000 enterprises in adopting frontier technologies. This enhanced partnership will provide technical expertise and resources, enabling businesses to develop and implement GenAI solutions more efficiently.

To meet the growing demand for AI talent, IMDA is also launching two new training programmes in collaboration with AI Singapore. These initiatives will create 800 job and training opportunities for local AI practitioners, equipping them with essential skills for the evolving tech landscape.

These efforts are part of Singapore’s broader strategy to establish itself as a global AI hub, ensuring that its workforce and enterprises remain competitive in the digital age.
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Prudential Singapore has partnered with the Infocomm Media Development Authority (IMDA) to launch GenAI XPonential, a programme aimed at accelerating the adoption of generative AI among small and medium-sized enterprises (SMEs). Announced at the ATxEnterprise event by Tan Kiat How, Senior Minister of State for Digital Development and Information, the initiative seeks to equip SMEs with practical AI knowledge and real-world applications to enhance innovation and competitiveness.

The GenAI XPonential programme offers SMEs access to up to 10 explainer videos and four hands-on workshops, co-created with Republic Polytechnic. The first two videos, focusing on GenAI-enabled customer engagement chatbots and sales and marketing content creation, will be available on IMDA’s CTO-as-a-Service platform, with additional content rolling out in the latter half of 2025.

Ben Tan, Chief Distribution Officer at Prudential Singapore, emphasised the company’s commitment to supporting SMEs, stating, “Through practical explainer videos and hands-on workshops conducted by us and Republic Polytechnic, we aim to equip SMEs with the knowledge and skills to apply GenAI meaningfully in their businesses.”

IMDA’s Assistant Chief Executive, Johnson Poh, highlighted the importance of the collaboration, noting, “It is vital to equip our SMEs with the tools and knowledge to harness GenAI effectively.”

The initiative also involves Republic Polytechnic students, who are developing the tech explainer videos, providing them with real-world experience in GenAI applications. This collaboration is part of a broader effort to nurture future AI creators and support intergenerational learning within the digital economy.
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Knight Frank Singapore and CBRE have announced the relaunch of Piccadilly Galleria’s ground-floor retail podium for sale via an Expression of Interest (EOI) exercise, commencing on 27 May 2025 and closing on 22 July 2025. Situated in the Farrer Park precinct, the development is part of the fully sold Piccadilly Grand residential project and offers direct access to Farrer Park MRT station.

The retail podium comprises 15 units, including one childcare centre, four retail units, and ten F&B units. The F&B units boast prominent street frontage along Gloucester Road, whilst the childcare and retail units feature a 150-metre frontage along Race Course Road. The development benefits from a dedicated commercial drop-off point on Northumberland Road.

The area is set to see increased demand with the completion of approximately 1,800 HDB flats by 2028, as part of the Urban Redevelopment Authority’s rejuvenation plans for the Farrer Park Field. These plans include new sports and recreational facilities, enhancing the precinct’s appeal as a vibrant live-work-play hub.

Leasing plans are underway, targeting a mix of F&B, services, and daily essentials. The childcare centre, occupying 27% of the podium’s net lettable area, has already secured a tenant. The guide price for the property is $67.5m, reflecting approximately $3,350 per square foot.

Melvin Chay of Knight Frank noted the area’s enhanced vibrancy due to recent developments, whilst Clemence Lee of CBRE highlighted the strong interest from diverse buyers during the initial marketing campaign. The relaunch aims to attract investors seeking stable income and long-term value.
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