Regional News

The Singapore Polo Club (SPC) is set to host its third annual SPC Outreach Polo Tournament & Carnival on 11 October 2025, from 10am to 6pm. The event, held at the Club grounds, will feature Senior Minister Lee Hsien Loong as the Guest-of-Honour. This initiative aims to make polo more accessible whilst supporting the SPC Outreach Fund, which benefits several charitable organisations.

The carnival will offer a range of activities, including pony rides, horse feeding, and a lifestyle bazaar. Attendees can also enjoy performances and polo matches, including the ATOMS Outreach Cup and the SPC Outreach Cup. The event will culminate in a prize-giving ceremony and cheque presentation to the beneficiaries.

Proceeds from the event will support four charities: Dementia Singapore, Gateway Arts, The Straits Times School Pocket Money Fund, and PERTAPIS Education & Welfare Centre. These organisations provide essential services ranging from dementia care to financial assistance for low-income students.

The Singapore Polo Club, founded in 1886, continues to promote equestrian sports and community engagement. The event promises a day of fun and philanthropy, with all contributions aiding meaningful causes. For more details, visit the Singapore Polo Club’s website.

In a significant financial development, 76 primary-listed companies in Singapore have collectively repurchased S$1.65b worth of shares through open market acquisitions by 11 September 2025. This marks an 80% increase compared to the same period in 2024, driven largely by the country’s major banks. United Overseas Bank (UOB), DBS Group Holdings, and Oversea-Chinese Banking Corporation (OCBC) led the buyback efforts, contributing a combined S$1.28b.

The surge in buybacks is attributed to market volatility in April, which alone accounted for S$425m. Companies often engage in share buybacks to enhance financial metrics such as Earnings per Share (EPS) and Return on Equity (ROE), and to efficiently manage excess capital. The Monetary Authority of Singapore (MAS) notes that buybacks can also capitalise on perceived undervaluation and lower overall capital costs.

Among the notable buybacks, UOB repurchased shares at an average price of S$35.39, DBS at S$42.77, and OCBC at S$16.67. Beyond the Straits Times Index (STI) stocks, Olam Group and Raffles Medical Group also made significant buybacks.

Additionally, AEM Holdings, Kingsmen Creatives, and Jason Marine Group executed buybacks for the first time in years, indicating a strategic move to bolster shareholder value and optimise capital structures. These actions reflect a broader trend of companies leveraging buybacks as a tool for capital management and shareholder engagement.

As the year progresses, these buyback activities are expected to continue shaping the financial landscape in Singapore, with implications for both market stability and investor confidence.

AIA Singapore has unveiled findings from its eighth Live Better Study, revealing a shift in how Singaporeans view retirement. The study shows a growing trend towards seeking purpose and reinvention in retirement, aligning with the government’s focus on active ageing. However, it also highlights a significant gap between these aspirations and the practical preparations being made.

The study, conducted in May 2025, found that 55% of Singapore residents plan to work post-retirement, driven by a desire for purpose, to cure boredom, or to try something new, rather than financial necessity. Despite this, only 50% feel financially stable, with those in their 40s expressing the most negativity. Concerns about the cost of living and healthcare expenses remain prevalent.

Social wellness emerged as a critical yet often overlooked aspect of retirement planning. Only 37% of respondents have considered social wellness, with single individuals particularly worried about isolation and caregiving. The study underscores the importance of social connections, echoing recent government initiatives like Age Well Neighbourhoods.

Irma Hadikusuma, Chief Marketing and Healthcare Officer at AIA Singapore, noted, “Singapore residents are increasingly envisioning a purposeful and active post-career life, yet our study reveals many are not adequately preparing for this new reality.”

The findings indicate an urgent need for more education and support to help Singaporeans transition into retirement, particularly for those aged 40-49 and single individuals. This aligns with the government’s efforts to enhance community support and social infrastructure, ensuring a more inclusive society for an ageing population.

Busways Pte Ltd has announced partnerships with leading industry players to develop a state-of-the-art electric vehicle (EV) charging hub in Senoko, Singapore, set to launch in December 2025. This initiative aims to enhance Singapore’s EV charging infrastructure by integrating renewable energy systems, battery storage, and digital management tools to support a variety of vehicles, including passenger cars, buses, and heavy-duty lorries.

The collaboration involves key partners such as Cantal Electric, Schneider Electric Singapore, and StarCharge Energy, focusing on areas like smart software, power distribution, and renewable energy integration. Busways CEO Martin Toh stated, “Singapore is a natural hub for innovation and sustainability, and we see tremendous potential to shape the future of electric mobility here.”

The hub will feature DC fast charging technology, photovoltaic solar panels, wind turbines, and battery energy storage systems to ensure efficient and reliable energy use. This project underscores Busways’ commitment to sustainable transportation and aims to meet the growing demand for scalable and efficient EV charging solutions in Singapore.

Busways, established in 2006, specialises in electrical power distribution and EV charging infrastructure. With over 300 employees, the company is recognised for its commitment to safety and innovation, holding several ISO certifications and industry awards. This new venture is expected to significantly contribute to Singapore’s transition towards cleaner and smarter transportation solutions.

FedEx has launched the FedEx Import Tool in Singapore, a digital solution designed to simplify cross-border shipping for businesses. As Singapore’s imports reached S$611.4b in 2024, the demand for efficient customs clearance is growing. The tool offers a unified self-service platform for document management and shipment tracking, providing importers with greater end-to-end visibility.

The FedEx Import Tool features a dashboard with real-time clearance tracking, allowing users to monitor shipments up to 90 days post-pickup. It also sends proactive notifications via email and mobile to expedite the clearance process and reduce delays. Additionally, the tool facilitates convenient GST duties and taxes payment directly from the shipment’s tracking page on FedEx’s website.

Eric Tan, managing director of FedEx Singapore, stated, “Singapore’s position as a global trade hub calls for logistics solutions that harness innovation to address growing complexities. The FedEx Import Tool does exactly that, using digital technology to streamline customs processes, increase transparency, and give importers the tools to manage their shipments with confidence.”

This launch is part of FedEx’s broader mission to make supply chains smarter. Earlier this year, FedEx introduced the Collaborative Shipping Tool in Singapore, enhancing efficiency in the import process. Other digital solutions include FedEx Ship Manager, which aids small businesses and e-commerce merchants in managing shipments online, and FedEx Ship Manager Lite for mobile shipment arrangements.

FedEx continues to leverage advanced technologies, such as machine learning, to provide customers with precise delivery windows and enhance its global network.

Singlife, a leading financial services company, has partnered with Circles Group to introduce two new insurance products for small and medium-sized enterprises (SMEs) in Singapore. The offerings, Singlife – Circle Complete and Singlife – Circle Cyber, aim to provide comprehensive protection against business liabilities and cyber risks, allowing SMEs to focus on growth and continuity.

Singlife – Circle Complete is a pioneering solution that consolidates essential business liability coverage into a single policy. This includes professional indemnity, directors and officers liability, crime insurance, and employment practices liability. SMEs can tailor their coverage to suit their specific needs, ensuring flexibility as their business evolves.

Singlife – Circle Cyber is designed to shield SMEs from cyberattacks, offering financial protection and practical support such as vulnerability scans and 24/7 incident response services. This helps businesses quickly identify and respond to threats without needing extensive in-house expertise.

Kenneth Tan, Co-Regional Director Asia Pacific of Financial Lines at Circles Group, highlighted the partnership’s significance: “There is a massive gap in offerings for SMEs in Singapore to manage legal liabilities and cyber incidents in-house. We are excited to partner with Singlife to offer digital insurance solutions tailored towards business owners.”

These new products are set to provide SMEs with the necessary safeguards to protect their assets and reputation, ensuring business continuity with peace of mind.

Carro has raised US$60 million in a funding round led by Cool Japan Fund, Japan’s sovereign wealth fund. The investment aims to bolster the demand for Japanese cars across the Asia Pacific region, where Carro operates. Aaron Tan, cofounder and CEO of Carro, highlighted the reliability and advanced technologies of Japanese cars, including fuel cell innovations and superior safety features, as key factors in their market appeal.

The capital injection will be used to showcase Japan’s advanced automotive technologies and increase the market share of Japanese Plug-in Hybrid Electric Vehicles (PHEVs). The demand for both used cars and new PHEVs is expected to grow, particularly in Southeast Asia, driven by economic expansion, a rising middle-income population, and government subsidies for electric vehicles in countries like Indonesia and Thailand.

Kenichi Kawasaki, president, CEO, and COO of Cool Japan Fund, stated that the investment aims to reinforce the value of Japanese cars by highlighting their advanced technologies. Cool Japan Fund, established in 2013, focuses on expanding overseas demand for Japanese products and services, contributing to Japan’s economic growth.

Founded in 2015, Carro has become Asia Pacific’s largest online used car marketplace, transforming car buying and selling with proprietary pricing algorithms and AI-enabled solutions. The company, headquartered in Singapore, transacts over 100,000 vehicles annually across seven markets and offers a range of services, including auto fintech, digital insurance brokerage, and aftersales service.

OCBC has announced its ambitious plan to accelerate the growth of 10,000 women-owned small and medium enterprises (SMEs) across its core markets by 2030. The initiative will provide social loans through dedicated SME programmes in Singapore, Malaysia, Hong Kong, and Indonesia. As of June 2025, OCBC has already supported over 2,000 women-owned SMEs with loan commitments totalling nearly $600 million.

The bank’s programmes, including the OCBC Women Unlimited Programme and the Women Warriors Programme, aim to enhance the socioeconomic advancement of women and strengthen the resilience of their businesses. Women-owned SMEs in Singapore, for instance, can secure financing of up to $100,000 within their first two years, with waived processing fees.

OCBC’s data reveals that women-owned SMEs in Singapore typically experience 30% lower sales turnover growth in their initial years compared to male-owned SMEs. However, those securing financing have managed to bridge this gap. The bank’s efforts have resulted in a more than 20% increase in loan commitments to women-owned SMEs in Singapore within a year of the programme’s launch.

Notable beneficiaries include The Powder Shampoo and The Plattering Co., which have expanded significantly with OCBC’s support. Iris Ng, Head of Emerging Business at OCBC, emphasised the bank’s commitment to supporting women entrepreneurs, stating, “It’s been incredibly rewarding to partner with and journey alongside our women entrepreneurs.”

OCBC plans to facilitate regional events and business-matching trips to support the cross-border growth of women-owned SMEs, reflecting a 51% increase in such businesses expanding beyond Singapore from 2018 to 2023.

Cigna Singapore has partnered with iXchange, the Third-Party Administrator arm of IHH Healthcare Singapore, to introduce a groundbreaking value-based healthcare contract. This collaboration marks a shift from traditional volume-based metrics to value-driven outcomes, addressing the challenges of rising healthcare costs and increased service utilisation in Singapore.

The new contract will see IHH SG hospitals, alongside IXPL and Cigna, focusing on delivering value-based outcomes for patients. Key services will include Guarantee of Payment provision, cost control for episodes of care, and panel management, all designed to prioritise quality and efficiency over sheer volume.

Raymond Ng, CEO of Cigna Singapore, highlighted the importance of this partnership in managing inflationary pressures and rising utilisation that have been driving up insurance premiums. “By aligning our goals with healthcare providers, we aim to deliver more sustainable outcomes for our policyholders,” he stated.

Cigna members will benefit from enhanced access to a comprehensive network of trusted medical providers through iXchange. The collaboration will also streamline inpatient admissions and claims processing, ensuring fairness and transparency in billing.

The initiative will integrate hospitals, independent specialists, and payors through data-driven platforms, fostering continuous improvement and equitable outcomes. Loh Chek Chai, CEO of iXchange, emphasised the partnership’s role in creating a transparent and sustainable healthcare ecosystem, stating, “This strategic partnership with Cigna Singapore exemplifies how engagement, mutual understanding, and active collaboration can benefit all stakeholders.”

This collaboration is expected to set a precedent for future healthcare contracts, focusing on sustainable financing and high-quality care.

Singapore is emerging as a leader in the energy transition, with a significant portion of its businesses committing to renewable energy and digital innovation, according to the Asia Pacific Energy Transition Readiness Index 2025 by ABB’s Energy Industries division. The research indicates that 68% of Singaporean companies plan to allocate over 10% of their capital expenditure (CAPEX) to energy transition initiatives in the next five years.

The survey, which included over 4,000 business leaders across 10 industries and 12 markets, highlights that 30% of Singaporean firms already source more than half of their energy from renewable sources, surpassing the regional average of 25%. Furthermore, 82% of respondents expect to increase their renewable energy use by over 20% in the next five years.

Digital technologies are seen as crucial enablers of this transition, with 78% of Singaporean respondents identifying artificial intelligence (AI) and automation as key factors. Abhinav Harikumar, VP of ABB’s Energy Industries division, Southeast Asia, stated, “Accelerating progress from Singapore to the wider region requires aligning investments with transition priorities and harnessing technology as a catalyst.”

Solar energy is currently the primary renewable source for 75% of Singaporean respondents, with solar, green hydrogen, and wind identified as the top ‘game changers’ for the next five years. The findings align with Singapore’s national energy strategies, which include ambitious targets for solar capacity and low-carbon electricity imports.

The research underscores the need for coordinated action and investment to maintain Singapore’s leadership in the energy transition, with a focus on technology, infrastructure, and talent development.