Regional News

Singapore’s DBS has surpassed PETRONAS to become the most valuable brand in the ASEAN region, according to the Brand Finance ASEAN 500 2025 report. The bank’s brand value soared by 56% to reach US$17.2b, marking a significant milestone in the regional brand landscape.

Brand Finance, a leading brand valuation consultancy, highlighted that PETRONAS, despite falling to second place, maintains a strong AAA- rating and a Brand Strength Index (BSI) score of 83.7 out of 100. Meanwhile, Thailand’s PTT climbed to third place with an 11% increase in brand value, now standing at US$9.2 billion.

The report also noted Malaysia Airlines as the fastest-growing brand in the ASEAN region, with its brand value tripling to US$607m. Additionally, Vinpearl from Vietnam emerged as the strongest brand in the region, boasting a BSI of 97.5 out of 100 and an AAA+ rating.

These developments underscore the dynamic shifts within the ASEAN brand landscape, with DBS’s rise reflecting its robust market strategies and regional influence. As the region continues to evolve, these brands are setting benchmarks for growth and strength in their respective sectors.

New home sales in Singapore experienced a dramatic decline in September, as developers refrained from launching new projects during the seventh lunar month. According to the Urban Redevelopment Authority (URA), sales of new homes, excluding executive condominiums (ECs), fell by 88.1% from 2,142 units in August to just 255 units in September. Including ECs, the decline was 88.5%, with sales dropping from 2,338 units to 270 units.

The lack of new launches contributed to September’s figures being the lowest monthly sales recorded this year, and the least since September 2023, which saw 217 transactions. Christine Sun, Chief Researcher and Strategist at Realion (OrangeTee & ETC), noted that all sales were from previously launched projects, with top sellers including Canberra Crescent Residences and Grand Dunman.

Despite the overall slump, the EC market showed resilience. A notable transaction was a 1,206-sq-ft EC at Aurelle of Tampines, sold for $1.54m (S$2.1m). This sale contributed to a year-to-date tally of 287 new ECs sold for over $1.47m (S$2m), significantly surpassing previous years’ records.

Looking ahead, developers are expected to launch several projects before the year-end holidays, potentially boosting sales figures. With interest rates moderating, buyers may find mortgages more affordable, encouraging market participation. New projects like the 462-unit Penrith and the 706-unit Zyon Grand are anticipated to attract interest, potentially pushing October sales to new highs. Realion forecasts that over 9,300 new homes could be sold by the end of the year, exceeding the annual sales of the past three years.

Straits Interactive has emerged as one of the three winners in Meta’s inaugural Llama Incubator Programme, a pioneering initiative in the Asia-Pacific region. The programme, launched in collaboration with the Singapore Government and e27, saw Straits Interactive outshine 25 other organisations in the start-up category. The accolade highlights the company’s leadership in integrating open-weight AI models with robust governance on its Capabara platform.

The Llama Incubator Programme invited start-ups, SMEs, and public-sector teams to develop AI solutions using Meta’s Llama models. Over six months, participants received mentorship and technical resources, with a focus on governance. From over 100 applicants, 40 organisations advanced to the incubation phase, culminating in three winners recognised for their innovative and safe AI solutions.

Straits Interactive’s CEO, Kevin Shepherdson, emphasised the company’s mission to make Generative AI accessible to non-technical professionals, ensuring safe and responsible use. The company developed a Tool Builder Wizard on Meta’s Llama Maverick model, enabling users to convert domain knowledge into AI applications. This innovation, coupled with the AI Lifecycle Optimiser, promotes transparency and accountability in AI development.

The integration of Llama models has significantly reduced the cost of running Generative AI applications on Capabara, enhancing data sovereignty and accuracy. Straits Interactive’s Reasoning-Aware AI technology further boosts model accuracy and transparency, fostering trust in AI systems.

This achievement builds on Straits Interactive’s reputation as a leader in responsible AI, following accolades such as the 2025 Singapore Business Review Technology Excellence Awards and recognition at the UK AI Pathfinder Award 2024.

In a significant move to bolster cross-border collaboration, professional bodies from Singapore and Shanghai have signed a Memorandum of Understanding (MOU) at the Sino-Singapore Forum for Empowering Enterprise Globalisation and Excellence. The agreement, signed on 15 October, involves the Institute of Singapore Chartered Accountants, the Shanghai Institute of Certified Public Accountants, the Law Society of Singapore, and the Shanghai Bar Association.

The collaboration aims to focus on three main areas: reciprocal mission trips to foster business partnerships, joint knowledge-sharing initiatives such as seminars on cross-border mergers and acquisitions (M&A) and environmental, social, and governance (ESG) reporting, and the development of a Professional Services Centre. This centre will serve as a strategic platform to integrate legal and accounting resources between the two cities.

Edwin Tong, Singapore’s Minister for Law, highlighted the importance of professional collaboration in driving enterprise globalisation. Fu’an Kong, Secretary of the Party Leadership Group, expressed excitement about the MOU, stating, “Hongqiao’s unique position as a gateway to international markets makes it an ideal base for deeper connectivity.”

The forum, organised by the Professional Services Centre, brought together representatives from accounting, legal, and business organisations. The initiative aims to create a trusted hub for professional services, enabling cross-border collaboration and access to specialised talent.

This partnership marks a new chapter in Singapore-Shanghai cooperation, positioning professional services as strategic enablers of growth and innovation. The collaboration is expected to provide enterprises with the tools needed to navigate regulatory complexities and expand confidently into international markets.

Realion, the group behind OrangeTee & ETC, has shared insights on the upcoming Build-To-Order (BTO) launches scheduled for February 2026. Christine Sun, Chief Researcher and Strategist at Realion, highlighted that the Toa Payoh project, with 1,130 units, is likely to see high application rates due to its proximity to the city centre and educational institutions. Despite its appeal, the site’s closeness to a major expressway might deter some buyers due to noise and dust concerns.

The Bukit Merah project, offering 1,040 units, is expected to attract interest due to its location near Redhill MRT station and the Central Business District. However, the recent influx of new flats in the area may moderate demand. Historical data shows a decline in application rates for similar projects, suggesting a tempered response this time.

In Tampines, the project along Tampines Central is anticipated to be highly popular, thanks to its location near the MRT station and shopping amenities. Previous launches in the area have seen substantial demand, and although the current supply of nearly 30,000 new homes might influence interest, oversubscription is still expected.

Conversely, the Tampines project along Tampines Street 22, with 280 units, may see moderate interest due to its distance from MRT stations. Meanwhile, two Sembawang projects along Admiralty Lane, offering a total of 1,920 units, might appeal to families due to their proximity to schools and shorter waiting periods. These Standard flats also feature a shorter Minimum Occupation Period, allowing quicker market exit for buyers.

Meta has successfully concluded its inaugural Llama Incubator Programme Demo Day in Singapore, marking a significant step in advancing open-source AI innovation. The event saw CREX, MyRepublic Broadband, and Straits Interactive emerge as winners, with AgriG8, IntentAI, and i-Sprint Innovations as runners-up. Public sector agencies, including the Building and Construction Authority, Land Transport Authority, and Sentosa Development Corporation, also presented their AI-powered solutions.

The programme, in collaboration with the Ministry of Digital Development and Information, Infocomm Media Development Authority, and other partners, provided startups, SMEs, and public sector teams with mentoring, technical resources, and funding. Sandhya Devanathan, Vice President of India & Southeast Asia at Meta, emphasised the company’s role as an ecosystem partner, supporting Singapore’s Smart Nation 2.0 vision by empowering local businesses and attracting startups.

More than 100 organisations participated in a foundational workshop in March 2025, with 40 selected for six months of mentoring and training on responsible AI practices. Participants developed over 30 innovative solutions across various sectors. Winning teams received $30,000 each, whilst runners-up were awarded $10,000.

Meta’s collaboration with AWS Singapore further supports participants by offering AWS credits and technical advisory. The initiative aligns with the GenAI x Digital Leaders programme by IMDA, which aims to enhance digital capabilities in AI for local enterprises. As part of its ongoing efforts, Meta has expanded its Upskill with Meta programme to help SMEs modernise and grow using AI tools.

The Housing Development Board (HDB) has unveiled its October 2025 Build-to-Order (BTO) sales exercise, offering 9,144 new flats across 10 projects in various towns including Ang Mo Kio, Bedok, and Bukit Merah. This marks the largest BTO launch since November 2022, reflecting the government’s commitment to addressing the high demand for public housing in Singapore.

Kelvin Fong, CEO of PropNex, highlighted the significance of this launch, noting that the increased supply could help moderate price increases in the resale market. Notably, the launch includes debut projects in Mount Pleasant and the Greater Southern Waterfront, anticipated to attract significant interest due to their prime locations and new housing precincts.

This exercise also introduces the Family Care Scheme (Joint Balloting), enabling parents and children to jointly apply for units in the same project, fostering closer family living arrangements. This follows the July introduction of the Family Care Scheme (Proximity), which prioritises singles wishing to live near their parents.

Among the projects, Mount Pleasant Crest and Berlayar Residences stand out due to their strategic locations near MRT stations and city amenities. Berlayar Residences, in particular, is expected to draw high demand, given its proximity to the Greater Southern Waterfront development and the central business district. The subsidy recovery rate for Berlayar Residences is set at 14%, the highest since 2021, due to its prime location.

Overall, the BTO application rate is estimated to be between 3.0 to 3.5 times, with 41% of the flats classified as Prime, 16% as Plus, and 43% as Standard. This extensive offering underscores the government’s efforts to meet housing needs and support diverse family structures in Singapore.

The developer sales for private residential properties in Singapore saw a significant decline in September 2025, with only 255 units sold, marking an 88.1% decrease from August’s 2,142 sales. This drop was largely anticipated due to the Lunar Seventh Month, a period traditionally quiet for property transactions. Leonard Tay, Head of Research at Knight Frank Singapore, noted that despite the slowdown, the market remains robust, as evidenced by the successful launch of Skye at Holland, which sold 99% of its units post-festival.

In the broader context of Q3 2025, the Core Central Region (CCR) experienced a surge in primary transactions, with 916 sales compared to just 46 in the previous quarter. This indicates a strong demand for prime residential locations. However, price growth in the CCR has been slower over the past five years compared to the Rest of Central Region (RCR) and Outside Central Region (OCR), which saw increases of 47% and 46%, respectively.

For the first nine months of 2025, approximately 7,924 private residential units were sold, aligning with Knight Frank’s forecast of 7,000 to 9,000 units for the year. The resilience of Singapore’s residential market is supported by low unemployment and strong household savings, providing financial flexibility amidst global uncertainties. Looking ahead, new home sales are expected to exceed 9,000 units, driven by upcoming launches in October and early November, before the holiday season begins.

WRISE Group and CTF Life Bermuda have announced a strategic partnership to revolutionise wealth management and legacy planning for high-net-worth individuals worldwide. This collaboration will utilise CTF Life Bermuda’s innovative solutions to offer tailored strategies that address the evolving needs of clients in wealth, health, and legacy planning.

The partnership marks a significant development in the External Asset Management (EAM) sector, coinciding with the anticipated growth of the global insurance market for high-net-worth individuals to $139.28b by 2032. Derrick Tan, Group Executive Chairman of WRISE Group, stated, “This landmark partnership with CTF Life Bermuda is a testament to WRISE Group’s vision of creating a seamless and holistic 360-degree wealth management platform for our clients.”

The agreement, signed in Dubai, enables WRISE to expand its service offerings through a direct model that enhances client value. Meanwhile, CTF Life Bermuda will broaden its presence in key growth markets. Man Kit Ip, Executive Director and CEO of CTF Life Bermuda, expressed enthusiasm for the partnership, noting, “This strategic alliance represents a bold leap in our global expansion.”

WRISE will begin distributing a range of CTF Life Bermuda insurance products, including Universal Life Insurance, Indexed Universal Life, and Variable Universal Life, to clients in its Private and Prestige segments by the end of the year. This initiative is expected to set a new standard in meeting the holistic wealth needs of clients, offering more choice, transparency, and value globally.

ABC Impact, an impact investment firm backed by Temasek, has collaborated with DBS and UOB to introduce a US$110m (S$142m) sustainability-linked subscription loan facility. This innovative financial instrument, announced on 15 October 2025, transforms a conventional loan into one that ties financing to measurable sustainability targets.

The facility is designed for ABC Impact Fund II, which was launched in August 2023 and closed in March 2025, with assets under management exceeding US$600m. The fund, supported by investors such as Temasek and the Asian Development Bank, aims to channel capital towards projects with significant social and environmental impacts. The loan requires portfolio companies to meet sustainability performance targets, including reducing greenhouse gas emissions and reaching beneficiaries in sectors like agriculture, healthcare, and education.

Sugandhi Matta, Chief Impact Officer at ABC Impact, highlighted the milestone, stating, “This sustainability-linked loan marks an important milestone in ABC Impact’s journey.” She emphasised the alignment of financial management with the firm’s mission to deliver positive outcomes across Asia.

DBS’s Simon Ong noted the partnership’s role in financial innovation, whilst UOB’s Edmund Leong underscored the importance of strategic collaborations in addressing regional challenges. This initiative sets a new benchmark for integrating sustainability into financial structures, reinforcing the commitment to societal progress and environmental stewardship.