Regional News

Texel Asia, a leading independent credit and political risk insurance broker, has announced the addition of two seasoned professionals to its Singapore office. Jamie Stork joined as an associate director on 22 September, whilst Brandon Woo is set to join as a broker on 3 November. Both will report to Angela Chang, managing director of Texel Asia. This strategic move aims to bolster the company’s expertise in response to increasing demand for credit and political risk insurance in the Asia Pacific region.

Jamie Stork brings eight years of experience from Marsh/JLT, where he most recently served as vice president in structured credit and political risk. His career began at JLT in London before relocating to Singapore with Marsh in 2023. Brandon Woo, who joins from WTW, has been in the industry since 2019 and was promoted to divisional director for Financial Solutions, Asia Pacific in March 2024. Prior to WTW, he worked as a financial planning consultant at AXA.

Angela Chang expressed enthusiasm about the new hires, stating, “We have been steadily adding to our team over the past 12 months to support our growth ambitions in the region, and it is great to be entering the final quarter of 2025 with another two experienced hires in the form of Jamie and Brandon.”

The appointments underscore Texel’s commitment to attracting diverse and skilled professionals to maintain its reputation for excellence and innovation. As Texel Asia continues to expand, the new team members are expected to enhance the company’s ability to deliver top-tier advice and solutions in the insurance sector.

The Singapore Motorshow 2026 is set to be the largest in its history, featuring over 38 automotive brands across an expanded 21,000 square metres at Suntec Singapore Convention & Exhibition Centre from 8 to 11 January. This year’s event will span four levels, including a newly added Level 6, offering visitors a comprehensive look at the latest in automotive innovation, from luxury vehicles to cutting-edge electric vehicles (EVs).

The motorshow will feature a diverse array of brands, including Audi, BMW, Hyundai, and Mercedes Benz, as well as innovative Chinese EV brands like BYD and NIO. Attendees will have the opportunity to explore new car launches and the latest petrol, hybrid, and EV models. Glenn Tan, President of the Motor Traders Association of Singapore, highlighted the event’s significance, stating, “The Singapore Motorshow has grown beyond being just a showcase of cars; it is now a key platform for driving innovation, sustainability, and growth in Singapore’s automotive industry.”

Mediacorp, partnering with the Motor Traders Association, aims to amplify the event’s reach. Jacqui Lim, Mediacorp’s Chief Commercial Officer, expressed excitement about the collaboration, noting the event’s potential to generate widespread interest through Mediacorp’s extensive channels.

Visitors can engage in interactive activities, exclusive offers, and experiential showcases, including a chance to win a Dongfeng Box in the Singapore Motorshow 2026 Lucky Draw. General admission tickets are priced at $10, with limited preview tickets available for $20, offering early access on 8 January.

The Urban Redevelopment Authority has concluded the land tender for a site at Dorset Road, launched under the first half of 2025 Government Land Sales programme. The site, which can accommodate approximately 425 units, received nine bids, surpassing expectations. United Venture Development (2022) Pte. Ltd submitted the highest bid at S$524.3m or about S$1,338 per square foot per plot ratio, slightly above the next highest bid from a consortium including ABR Holdings Limited and others.

Justin Quek, Deputy Group CEO of Realion (OrangeTee & ETC) Group, noted that the high number of bids reflects confidence in the site’s future sales performance. The location’s appeal is bolstered by its proximity to amenities such as Farrer Park MRT Station, City Square Mall, and educational institutions like Farrer Park Primary School.

The last Government Land Sales site in the area, Northumberland Road, was awarded in May 2021 and developed into Piccadilly Grand, which sold 77% of its units during its launch weekend in 2022. A recent subsale in July 2025 saw prices 15.5% higher than the launch average, indicating strong demand.

The upcoming project is expected to attract HDB upgraders, supported by robust resale prices of flats in Kallang/Whampoa. Additionally, its central location and connectivity make it appealing to young professionals and investors seeking rental opportunities.

Asia-Pacific has slipped from third to fourth place in global fraud protection, according to Sumsub’s latest Global Fraud Index. The report, released on 9 October, highlights increasing fraud exposure in the region, which now ranks just above Africa and behind Europe, the Middle East, and the Americas. Despite this, Singapore leads globally in government intervention, surpassing countries like Luxembourg and Denmark.

The study, conducted with Statista and the Digital Assets Association (DAA) Singapore, assessed fraud risk across 112 countries. It revealed that whilst New Zealand and Thailand have improved their fraud protection, key digital economies such as Singapore, Japan, Indonesia, and Malaysia have seen significant declines in their rankings. Timothy Owens, a tech and AI industry expert at Statista, noted, “Fraud protection isn’t about geography; it’s about governance.”

Singapore, despite its drop from first to tenth place, remains a leader in government intervention, reflecting its commitment to a robust anti-fraud infrastructure. The DAA’s Co-Chairman, Chia Hock Lai, emphasised the need for a unified response to sophisticated fraud, stating, “This isn’t just about statistics; it’s about protecting businesses.”

The 2025 Global Fraud Index offers insights into emerging threats and effective preventative measures, urging businesses and regulators to strengthen anti-fraud strategies. The report also expands its scope to include new countries like the Philippines and Vietnam, providing a comprehensive view of global fraud exposure. Sumsub will host its inaugural “What The Fraud” Summit in Singapore from 19 to 20 November, aiming to foster public-private partnerships in fraud prevention.

The National University Hospital (NUH) has introduced its Appropriate Care (Apt Care) initiative, focusing on delivering patient-centred care that maximises health outcomes whilst reducing inefficiencies. Launched in March 2024, the campaign aims to create a collaborative healthcare environment where patients actively participate in their treatment plans, potentially reducing medication and unnecessary tests.

One of the key projects under the Apt Care initiative is the end-of-life care pathway for cancer patients, developed in collaboration with the National University Cancer Institute, Singapore. This programme, launched in October 2024, employs a multidisciplinary approach to enhance patient comfort by minimising non-essential medications and procedures. Between October 2024 and August 2025, 108 patients benefited from reduced vital sign checks and blood glucose monitoring, saving up to $740 per patient.

Another significant project targets unnecessary blood glucose monitoring for inpatients. Initiated in September 2024, this project has halved the average daily blood glucose tests for 87 patients, without increasing hypoglycaemia or hyperglycaemia rates. Dr Ada Teo, the project lead, noted that the initiative has improved patient experiences and reduced costs, with 85% of nurses expressing confidence in the new workflow.

NUH plans to expand its Apt Care efforts by reducing duplicative tests, minimising inappropriate medication, and consolidating appointments to improve care coordination. Adj A/Prof Amelia Santosa, co-lead of the Apt Care campaign, emphasised the importance of these initiatives in addressing the needs of Singapore’s ageing population and enhancing healthcare value.

The Urban Redevelopment Authority (URA) has announced the results of the land tender for a residential site on Dorset Road, District 8, with United Venture Development (2022) Pte. Ltd., an entity of UOL Group, securing the top bid of over S$524.3m. This translates to a land rate of $1,338 per square foot per plot ratio (psf ppr). The site, which can potentially yield 425 new homes, is strategically located near Farrer Park MRT station and various amenities.

The tender saw nine bids, matching the interest level of the Dunearn Road tender earlier this year. The competition was intense, with the highest bid narrowly surpassing the second-highest by just 1%. The second bid, at $1,324 psf ppr, was submitted by a joint venture of ABR Holdings, LWH Holdings, Macly Capital, RP Ventures, and Wee Hur Property. The spread between the top and lowest bid, submitted by SL Capital (9) Pte. Ltd., was approximately 19%.

The site’s appeal lies in its proximity to transport links, schools, and commercial offerings, making it attractive to homebuyers prioritising convenience and accessibility. The last major launch in the area, Piccadilly Grand, sold 77% of its units during its launch in May 2022, indicating strong demand. Developers likely considered the limited new condo supply and the site’s central location when bidding.

With a top bid land rate of $1,338 psf ppr, future homes on this site are expected to sell at an average price potentially exceeding $2,700 psf. The vibrant locale, coupled with the area’s ongoing rejuvenation, is expected to attract a mix of investors, end-users, and HDB upgraders.

Terra SG and FairPrice Foundation have officially launched The Carbon Gallery, Asia’s first experiential hub focused on carbon literacy, at VidaCity in Pasir Ris, Singapore. The gallery, which opened on 10 October 2025, uses storytelling, interactive technology, and gamification to educate visitors on the connections between carbon, climate change, and daily lifestyle choices. Since its soft launch in 2024, over 20,000 students and individuals have visited the gallery.

The initiative, supported by FairPrice Foundation and FairPrice Group, aims to make sustainability education accessible to all Singaporeans, particularly students. FairPrice Group CEO Vipul Chawla emphasised the importance of sustainability, stating, “The Carbon Gallery represents our commitment to make sustainability education tangible and accessible for Singaporeans.”

Visitors begin their journey at The Microforest, which features miniature ecosystems like Agroforest and Mangrove forest, highlighting Pasir Ris’ heritage. The gallery also includes Respite Gardens for reflection and interactive exhibits such as The Carbon Cart and Eating a Little Better, which encourage sustainable choices.

The Carbon Gallery complements Singapore’s school curriculum, offering workshops and programmes for schools, corporates, and community groups. Kelvin Wong, founder of Terra SG, noted, “We are transforming the idea of carbon literacy into an easy, tangible, and accessible experience for every Singaporean.”

Singapore’s financial sector is set to benefit from a new initiative aimed at boosting artificial intelligence (AI) adoption. Announced by Chee Hong Tat, Minister for National Development and Deputy Chairman of the Monetary Authority of Singapore, the PathFin.ai knowledge hub was launched at the Institute of Banking and Finance Distinction Evening on 9 October 2025. This hub is designed to facilitate peer learning and improve AI implementation across financial institutions (FIs).

The PathFin.ai programme, which already includes over 80 FIs, will now feature a knowledge hub showcasing successful AI use cases in areas such as sales, marketing, and risk management. “We can learn from one another to shorten the learning curve,” Chee stated, emphasising the importance of knowledge exchange in uplifting the sector.

The financial sector, which contributed 14% to Singapore’s GDP in 2024, is a key area for growth, having added over 2,000 net jobs for locals in the first half of this year alone. The adoption of AI is expected to further enhance job creation and economic growth. McKinsey estimates that generative AI could add up to S$550b in value annually to the global financial sector.

To support this growth, the Monetary Authority of Singapore (MAS) plans to consult the industry on AI risk management guidelines and publish an AI risk management handbook. This will guide FIs in deploying AI responsibly, ensuring they remain competitive whilst managing risks effectively.

The initiative also focuses on preparing the workforce for an AI-enabled future. MAS and the Institute of Banking and Finance (IBF) have partnered with 10 pilot FIs to explore the impact of AI on specific job roles, aiming to upskill and reskill employees. Award-winning institutions like DBS, HSBC, and OCBC are already leading efforts in workforce transformation.

The PathFin.ai hub represents a significant step in ensuring Singapore’s financial sector remains at the forefront of AI innovation, promising a future of sustained growth and job creation.

Trust Bank Singapore has introduced Flex, a pioneering savings plan offering customers the ability to customise how they earn interest. This innovative plan, launched in September, allows users to select from eight bonus interest categories, aligning with their personal financial habits and priorities. Customers can earn up to 2.5% per annum on deposit balances of up to $880,000 (S$1.2m).

Flex is part of a trio of savings options, including the Signature and Zen plans. The Signature plan offers a familiar structure with established bonus interest categories, whilst the Zen plan provides a straightforward approach with a higher base interest rate and no additional conditions.

Aditya Gupta, Chief Product Officer, explained, “The new Flex plan started with a simple idea for consumers to create a Build-Your-Own-Savings-Account with the freedom to choose how they want to earn interest on their savings. With our new Flex plan, customers get complete flexibility, transparency and control to grow their savings.”

The plan addresses a market gap identified through customer research, which highlighted the need for more flexible savings options that adapt to changing financial priorities. Inspired by the “caifan” concept, akin to selecting dishes at a hawker centre, Flex allows customers to mix and match their savings benefits.

Since its launch, the Flex plan has seen rapid adoption, with 10% of existing customer balances transitioning to the new offering. Popular options include FX spends, Salary Crediting, and PayNow, particularly appealing to customers who travel frequently. This early success underscores Trust Bank’s commitment to reimagining traditional banking with personalised solutions.
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The Bank of the Philippine Islands (BPI) has inaugurated BPI Wealth Singapore, a wholly owned subsidiary, in the bustling financial district of Marina Bay. This strategic move marks BPI’s ongoing expansion in Asia, aiming to offer Filipino and regional clients access to one of the world’s most dynamic financial centres.

The launch event was attended by notable figures from both the Philippines and Singapore, including Medardo Macaraig, the Philippine Ambassador to Singapore, and Phua Wee Ling, Executive Director at the Monetary Authority of Singapore. Key BPI executives such as Jaime Augusto Zobel de Ayala, Chairman of BPI, and Jose Teodoro “TG” Limcaoco, President and CEO of BPI, were also present.

Limcaoco emphasised the significance of the new office, stating, “This new office is a bridge—connecting the Philippines and Singapore, our clients to global markets, and our heritage to the future.” Zobel de Ayala added, “To serve our clients well, and to serve them for generations, we must be present in this ecosystem.”

The office design reflects BPI’s philosophy of legacy and heritage, incorporating Filipino craftsmanship with modern elements. It features a timber balustrade reminiscent of Philippine heritage homes and custom lighting that creates a contemporary yet grounded atmosphere. The centrepiece, 1851 Wealth, offers an exclusive space for personal client interactions.

Art from BPI’s collection, including works by Fernando Zóbel, Arturo Luz, and Pacita Abad, adorns the office, connecting Filipino culture with Singapore’s global art scene. Maria Theresa D. Marcial, Deputy Chairman of BPI Wealth Singapore, highlighted the cultural significance, saying, “True wealth carries history and meaning.”

As BPI nears its 175th anniversary in 2026, the opening of BPI Wealth Singapore underscores its commitment to bridging the Philippines with the world, fostering growth and enduring partnerships.