Regional News

The Singapore Department of Statistics has reported a 1.4% rise in the Import Price Index and a 0.6% increase in the Domestic Supply Price Index for September 2025 compared to August 2025. Conversely, the Export Price Index experienced a slight decline of 0.1%, and the Singapore Manufactured Products Price Index remained unchanged during the same period.

The data, which excludes oil, shows a 1.3% rise in the Import Price Index and a 0.2% increase in the Domestic Supply Price Index. Both the Export and Singapore Manufactured Products Price Indices fell by 0.1%.

These indices are crucial for understanding the economic landscape, as they reflect changes in the cost of goods entering and leaving Singapore, impacting businesses and consumers alike. The statistics are available in detail through the Monthly Import and Export Price Indices and the Monthly Singapore Manufactured Products and Domestic Supply Price Indices publications.

The luxury property market in Singapore experienced a significant boost in the third quarter of 2025, according to Huttons’ Prestige Report. Sales of luxury non-landed homes surged by over 30% to 81 transactions, driven by new launches and increased resale activities. The geopolitical climate and a strong Singapore dollar have made the city-state an attractive destination for ultra-high-net-worth individuals (UHNWIs) seeking stability.

The report highlights that an estimated 725 luxury non-landed units were rented out in Q3 2025, marking a 21.6% increase from the previous quarter. This trend is attributed to UHNWIs migrating to Singapore, potentially awaiting permanent residency before purchasing homes. Mark Yip, CEO of Huttons Asia, noted the appeal of Singapore’s stability for these individuals.

Good Class Bungalows (GCBs), another segment of the luxury market, saw 11 deals in Q3 2025, consistent with the previous quarter. The total transacted value of GCBs rose by 13.2% to $382.1m, driven by high-value transactions in areas like Dalvey Estate and Chee Hoon Avenue.

Looking ahead, the luxury non-landed market set a new benchmark in October 2025 with a record price of $6,501 per square foot for a unit at Skywaters Residences. Despite potential slowdowns during the year-end holidays, the market is poised for its best performance since 2022. Meanwhile, more realistic pricing could sustain interest in GCBs into the fourth quarter.

DBS and Goldman Sachs have completed the first-ever over-the-counter (OTC) cryptocurrency options trade between two banks, marking a significant milestone in the digital asset sector. This pioneering transaction involved cash-settled OTC Bitcoin and Ether options, showcasing the adoption of risk management practices typical of traditional asset classes.

The trade comes amid increasing demand for cryptocurrency-linked products, with institutional investors seeking to expand their exposure to digital assets. In the first half of 2025, DBS clients executed over $1b in cryptocurrency options and structured notes, with trade volumes rising nearly 60% from Q1 to Q2 2025.

Jacky Tai, Group Head of Trading and Structuring at DBS, emphasised the importance of trusted platforms in the digital asset space. “Our trade with Goldman Sachs highlights how platforms can now tap the strong credit ratings and structuring capabilities of banks to bring the best practices of traditional finance into the digital asset ecosystem,” he stated.

Max Minton, Head of Digital Assets in Asia Pacific at Goldman Sachs, noted the significance of the development. “The trade signifies the development of an interbank market for cash-settled OTC cryptocurrency options, an area where we expect to see continued growth as institutional investors become increasingly active in this space,” he said.

As the digital asset ecosystem continues to evolve, this transaction underscores the potential for further integration of traditional financial practices, paving the way for more robust and secure cryptocurrency trading environments. Investors are advised to carefully assess their investment objectives and risk appetite before engaging in cryptocurrency-linked products.

HSBC has unveiled its Innovation Banking service in Singapore, aiming to bolster the nation’s innovation and venture ecosystem. Announced during the Singapore Week of Innovation and Technology (SWITCH), the initiative includes a dedicated $1.5b fund to provide high-growth innovation companies with unique financing solutions to expand their operations.

The new service will offer venture-backed businesses and their investors access to HSBC’s global network, enhanced sector expertise, and specialised financial products. David Sabow, Global Head of Innovation Banking, highlighted Singapore’s status as a global innovation hub, noting its thriving industries, pro-business environment, and strong international connections. “Today marks another milestone as we aim to create the largest dedicated global innovation banking business in the world,” he stated.

Gilbert Ng, Head of Banking – Singapore, Corporate and Institutional Banking at HSBC, emphasised Singapore’s position as a leading start-up destination in Asia-Pacific, supported by over 4,000 start-ups and a vibrant network of investors and accelerators. “The launch of HSBC Innovation Banking and the allocation of $1.5bn in capital demonstrates our continued commitment to supporting the growth of Singapore’s innovation economy,” Ng said.

Neil Falconer has been appointed as the Head of Innovation Banking in Singapore and will lead a dedicated team to support existing clients and attract new ones. This strategic move underscores HSBC’s commitment to fostering innovation and entrepreneurship in Singapore and beyond.

Five social service agencies in Singapore have joined forces to launch the nation’s first shingles awareness movement, supported by pharmaceutical company GSK. The initiative, unveiled at a nostalgia-themed event titled “Shielding from Shingles,” aims to educate seniors and their caregivers about the health risks associated with shingles and the preventive measures available.

The event, held at The GlassDome in Far East Square, was organised by GSK and attended by over 100 seniors from various ageing centres. It featured participation from caregivers and local celebrities, including the OG Gang—Mediacorp Artistes Chen Shu Cheng, Richard Low, and Zhu Hou Ren—and Cynthia Koh. The programme is designed to foster a community-driven approach to shingles education, encouraging open discussions about the disease’s impact.

A medical expert at the event highlighted the increased risk of severe shingles complications for individuals with pre-existing conditions such as diabetes and chronic kidney disease. This is particularly pertinent in Singapore, where 21.8% of those aged 60 and above live with diabetes, and heart attack incidence is expected to nearly triple by 2050.

Shingles, or herpes zoster, affects approximately 30,000 people annually in Singapore. Despite the high prevalence, a recent survey revealed that only one in four individuals has consulted or plans to consult a doctor about the condition. The movement seeks to bridge this gap by leveraging the community networks of Diabetes Singapore, Lion Befrienders, Presbyterian Community Services, SASCO, and TOUCH Community Services.

Singapore’s Energy Market Authority (EMA) has launched a Demand-Side Flexibility Roadmap to bolster the reliability of the nation’s power grid as it transitions towards net-zero emissions by 2050. The roadmap outlines strategies to harness demand-side resources, enabling electricity users to adjust their consumption in response to the power system’s needs.

The roadmap is part of Singapore’s broader effort to diversify its electricity fuel mix, currently dominated by natural gas, by incorporating more solar energy and electricity imports. EMA envisions that distributed energy resources, such as smart electric vehicle (EV) chargers and battery energy storage systems (BESS), will play a crucial role in this transition.

EMA’s Interruptible Load (IL) Programme will see enhancements, including reducing each IL activation period to 30 minutes, providing business consumers with greater certainty over their obligations. This programme allows participants to adjust their electricity demand during imbalances, supporting grid reliability.

The roadmap also highlights the potential of distributed energy resources and high-availability loads to contribute to system reserves. EMA plans to issue a Request for Information to explore incentivising these resources to support system reliability continuously.

Additionally, EMA’s Demand Response (DR) programme has been expanded to include EV charging stations and BESS with a nameplate rating below 10 megawatts. A 13-month regulatory sandbox, in collaboration with ComfortDelGro, will pilot the participation of EV charging stations in the DR programme, showcasing innovative solutions to enhance the resilience of Singapore’s power system.

These initiatives mark a significant step in Singapore’s journey towards a more sustainable and reliable energy future, with the potential to transform the way electricity is consumed and managed across the nation.

HDB resale prices in Singapore have experienced their smallest quarterly gain in nearly five years, according to the latest report by Realion Group’s OrangeTee & ETC Research. The third quarter of 2025 saw a modest price increase of 0.4%, marking the fourth consecutive quarter of slowing growth. This trend is attributed to intensified competition among sellers, with nearly 30,000 new flats launched for sale this year.

The report highlights a continued demand for premium flats, with the number of resale flats sold for at least S$800,000 increasing for the third consecutive quarter to 1,506 units. Additionally, the market saw a record 480 million-dollar flat transactions, a 15.7% increase from the previous quarter. Notably, a third flat was sold for at least S$1.6m in August.

Despite the slowdown, the market has recorded 22 consecutive quarters of price increases since Q2 2020. However, the pace of growth has been tempered by the availability of new Build-to-Order (BTO) and Sale of Balance Flats (SBF), which offer more affordable options to buyers. The October BTO sales exercise alone released over 9,000 new flats, including the first in Mount Pleasant and Greater Southern Waterfront.

Looking ahead, OrangeTee predicts that resale prices may grow by 3% to 4.5% for the entire year. The rental market also saw a slight increase, with approved applications to rent out HDB flats rising by 0.6% to 10,123 units in Q3 2025. However, rental demand is expected to soften in the coming months due to economic uncertainties and year-end holidays.

QAI Ventures has announced the launch of its QuantumAI Accelerator in Singapore, marking the country’s first venture capital firm dedicated to QuantumAI startups. Backed by Enterprise Singapore, the initiative is part of a national strategy to create a “lab-to-IPO” pipeline for deep-tech commercialisation. The programme aims to bridge the gap between research and high-growth markets, with Bain & Company estimating a potential $250b in value.

The accelerator, which coincides with the Singapore Week of Innovation & Technology (SWITCH) 2025, is supported by industry leaders such as Microsoft, DBS Bank, and SoftBank. Alexandra Beckstein, CEO and Founder of QAI Ventures, stated, “Through our VC-funded Accelerator, Venture Building programmes, and deep industry collaborations, QAI Ventures is building the Future of QuantumAI in Asia backed by Enterprise Singapore.”

The five-month programme is designed to empower early-stage founders, providing mentorship from a global network of quantum technologists and industry executives. It culminates in a Demo Day, where startups present to investors and partners. Applications for the inaugural cohort are open until 2 March 2026, with the programme starting mid-2026.

Additionally, QAI Ventures will launch a Venture Building Programme in 2026, aiming to register seven new ventures in Singapore by 2027. This initiative will leverage a proprietary database of over 2,000 patents to create market-ready ventures, further driving innovation and job creation in the region.

Singapore Exchange Regulation (SGX RegCo) has introduced new measures to transition towards a disclosure-based regulatory regime, aligning with global standards. This move follows recommendations by the Equities Market Review Group and is supported by industry feedback from a public consultation in May 2025. SGX RegCo is also seeking input on proposed Mainboard rule changes to consolidate listing review functions under its purview, as suggested by the Monetary Authority of Singapore (MAS).

SGX RegCo’s CEO, Tan Boon Gin, emphasised the holistic nature of the measures, stating they aim to enhance market efficiency and governance standards. The changes focus on providing decision-useful information to investors whilst maintaining key safeguards to uphold market quality and investor trust.

Key changes include lowering the profit test threshold for new listings from S$30m to S$10m, allowing pre-revenue companies with strong growth potential to list on the Mainboard. This aims to diversify the range of companies and broaden investor choice. Additionally, SGX RegCo will retain qualitative admission criteria to ensure issuers have strong governance and financial health.

Post-listing, SGX RegCo will only consider trading suspensions if there is clear evidence of going concern issues. The financial watch-list will be removed to avoid negative impacts on business confidence, though issuers must disclose consecutive financial losses.

MAS is consulting on consolidating listing review functions under SGX RegCo, which would streamline the process for prospective issuers. The consultation on this proposal is open until 29 November 2025.

Airwallex has unveiled its refreshed ‘Airwallex for Startups’ programme, aiming to transform financial operations into a growth engine for businesses. Initially launching in Singapore, the programme will expand globally, addressing the critical financial challenges that lead to the failure of 90% of startups worldwide. By providing stage-appropriate financial infrastructure, strategic mentorship, and an AI innovation sandbox, Airwallex seeks to equip founders with the necessary tools to scale and thrive.

The programme is structured around three core pillars. Firstly, startups will access financial infrastructure tailored to their funding stage, ensuring that support grows alongside their business. Secondly, founders will benefit from strategic financial mentorship through the Startup CFO Expert Panel, offering guidance on cash-flow optimisation, valuation, and investor relations. The programme kicks off with the Startup CFO Summit in Singapore, bringing together over 100 founders and 20 CFOs for workshops.

The third pillar, the AI Sandbox, offers AI-native startups the chance to tackle real-world challenges and collaborate with Airwallex to test solutions. Promising teams may develop design-partner relationships, gaining early customer validation to accelerate fundraising. Additionally, partnerships with OpenAI, Google Cloud, and HubSpot provide an integrated suite of perks across AI, cloud, and growth tools.

Lucy Liu, Co-founder and President of Airwallex, emphasised the importance of financial foundations for scaling: “The best ideas don’t just need funding; they need the right financial foundations to scale.” The programme aims to provide startups with the tools, knowledge, and networks to turn financial operations into a strategic advantage, fostering growth beyond borders.