Regional News

A coalition of 14 countries, including Singapore, Brunei, and New Zealand, has launched the Future of Investment and Trade (FIT) Partnership to support open and fair trade. Announced during a virtual Ministerial Meeting, the initiative aims to address emerging trade challenges and opportunities by fostering cooperation between public and private sectors. The World Trade Organisation Director-General, Ngozi Okonjo-Iweala, attended the launch, with Singapore represented by Deputy Prime Minister Gan Kim Yong.

The FIT Partnership is a response to recent global trade developments that threaten to fragment markets and hinder growth, particularly affecting small and medium-sized countries reliant on a rules-based trading system. The partnership will focus on supply chain resilience, investment facilitation, and reducing non-tariff barriers, with trade technology as a horizontal enabler.

Gan Kim Yong stated, “The FIT Partnership reflects our countries’ collective purpose to support the rules-based multilateral trading system and address the challenges of today and tomorrow.” The initiative is designed to be agile and informal, promoting dialogue and innovation that can be scaled to the multilateral level.

Singapore will host the inaugural FIT Partnership Ministerial Meeting during the Bloomberg New Economy Forum from 19-21 November 2025, where ministers plan to endorse concrete initiatives. The partnership aims to be inclusive and adaptable, inviting other countries to join in upholding its principles and ensuring economic security and job opportunities globally.

The Hong Kong Convention and Exhibition Centre (HKCEC) has solidified its status as a premier venue for international events, hosting 786 events during the financial year 2024-2025, which attracted over 7.8 million attendees. This included 120 exhibitions and 90 conferences, covering diverse topics such as fintech, sustainability, and medical science.

Among these, 11 new exhibitions and 20 new conferences were held at the HKCEC for the first time. Notable events included the Consensus Hong Kong 2025, which drew nearly 10,000 attendees from 102 countries, with 75% coming from outside Hong Kong. This event alone contributed an estimated $35.26 million (HK$275 million) to the local economy.

Monica Lee-Müller, Managing Director of Hong Kong Convention and Exhibition Centre (Management) Limited, expressed pride in the centre’s achievements, stating, “I’m proud that our targeted business development strategy, and the efficiency and professionalism of our operation workforce, have enabled us to secure several new exhibitions as well as retaining many long-established ones.”

Looking ahead, the HKCEC is set to host more significant events, including the Greater Bay Area Education and Talent Expo 2025 in October and the 9th World Congress of Paediatric Cardiology & Cardiac Surgery in December, expected to attract 3,500 medical experts. The inaugural LEAP East, an Asian edition of the Middle East’s flagship tech trade fair, is also scheduled for July 2026. These events are anticipated to further bolster Hong Kong’s reputation as a global hub for international gatherings.

Dah Sing Bank has unveiled its latest credit card promotion, “Daily Rewards,” which offers customers up to 5% cashback on various transactions. Running until 30 November, the promotion applies to local dining, online shopping, travel, and cross-border spending. Customers can earn a maximum of HK$500 in cashback during the promotional period.

The promotion is divided into two phases, allowing cardholders to earn 5% cashback on local dining transactions of HK$300 or more, provided they accumulate at least HK$5,000 in eligible spending. Online shopping, travel, and cross-border transactions will earn 3% cashback. Each phase offers a maximum cashback of HK$250.

Dah Sing Bank, a subsidiary of Dah Sing Banking Group Limited, has been serving Hong Kong for over 75 years. The bank is committed to enhancing customer experiences through innovative banking products and services. This latest promotion aligns with the bank’s ethos of providing rewarding and convenient financial solutions.

The bank’s extensive network includes 63 business locations across Hong Kong, Macau, and mainland China. Dah Sing Bank continues to invest in digital banking solutions, keeping pace with the region’s smart banking initiatives.

Family offices in the Asia Pacific (APAC) region are prioritising next-generation education and demonstrating proactive responses to market volatility, according to the Citi Wealth 2025 Global Family Office Report. Released on 16 September, the report reveals that APAC family offices are leading in second-generation wealth control, with 43% of wealth under their management, and are actively preparing for wealth transfers.

The survey, conducted by Citi Wealth’s Global Family Office Group, involved 346 family office respondents from 45 countries, including 29% from APAC. It highlights that 83% of APAC family offices expect portfolio returns above 5% this year, showcasing strong optimism despite geopolitical tensions and trade policy uncertainties.

Key concerns for APAC family offices include trade disputes and US-China relations, with 61% and 53% of respondents citing these as primary concerns, respectively. In response, APAC offices are making strategic investment shifts, leading global counterparts in allocating to defensive asset classes, geographies, and sectors.

The report also notes a significant gap in technology adoption, with 44% of respondents lacking cybersecurity offerings. Bernard Wai, Asia Pacific Head of Citi Wealth’s Global Family Office Group, remarked, “This region is truly setting the pace for wealth management evolution.”

Globally, the survey indicates a strong commitment to direct investments and a growing interest in deploying artificial intelligence for operational tasks and investment analytics. Family offices are also considering outsourcing services to manage responsibilities efficiently whilst maintaining decision-making authority in-house.

The findings underscore the evolving landscape of family offices, with a focus on resilience, internationalisation, and next-generation stewardship.

The Asia New Vision Forum (ANVF) 2025 commenced on 16 September in Singapore, marking its third consecutive year. Organised by Caixin Global and supported by the Singapore Tourism Board, the forum brings together over 600 investors, entrepreneurs, and high-level government officials from more than 12 countries. Under the theme “Charting the Future Amid Uncertainty,” the event aims to address critical global economic and business issues.

Singapore’s Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, delivered the opening keynote, focusing on Asia’s role in a fragmented world.

The opening panel featured Hu Shuli, Chairwoman of Caixin Global, and Lawrence Summers, former US Treasury Secretary. They discussed pressing issues such as US tariffs, artificial intelligence, and China-US relations. Summers highlighted the potential of AI to boost economic growth, whilst cautioning against a winner-takes-all mindset between China and the US.

Spanning three days, ANVF 2025 includes over 30 sessions, covering topics like geopolitics, financial markets, and the future of advanced manufacturing. The forum also launched the inaugural Caixin CG Capital Forum, focusing on AI and automation.

The event will continue to explore key issues such as biotechnology and green energy, featuring insights from former political leaders, UN representatives, and industry experts. ANVF will return to Singapore for its 2027 and 2029 editions, solidifying its status as a premier platform for international exchange.

Singapore’s non-oil domestic exports (NODX) experienced a sharp decline of 11.3% in August 2025 compared to the same month last year, according to the latest data released by the Department of Statistics Singapore. This follows a 4.7% decrease in July, indicating a continuing downward trend in the country’s export performance.

The contraction in NODX is a critical indicator of Singapore’s trade health, as it reflects the demand for locally produced goods in international markets. The decline could be attributed to various global economic factors, including fluctuating demand and potential disruptions in supply chains.

The August figures underscore the challenges faced by Singapore’s export sector amidst a volatile global trade environment. The decline in exports may impact the country’s economic growth, as trade is a significant component of Singapore’s economy. Analysts will be closely monitoring these trends to assess their implications for future economic performance.

The Singapore Institute of Technology (SIT) has officially opened its Punggol Campus, a significant step in promoting applied learning and skills-based hiring in Singapore. Officiated by Prime Minister Lawrence Wong, the campus is situated within JTC’s Punggol Digital District (PDD), designed to be a hub for collaboration between academia, industry, and the community.

The Punggol Campus is set to become a precinct-scale test-bed, allowing companies to develop and scale solutions in areas such as smart city infrastructure, robotics, and sustainability. Jacqueline Poh, CEO of JTC, highlighted the unique integration of a business park and university, stating, “Companies in PDD get direct access to young talent, whilst students can test what they learn in the real world.”

SIT’s new Innovation-as-a-Service (IaaS) platform will support this initiative by providing resources and infrastructure for companies, particularly SMEs and start-ups, to innovate and bring solutions to market. The platform aims to overcome challenges like limited resources and expertise, accelerating the delivery of market-ready solutions.

In addition, SIT has forged global partnerships with Shanghai Jiao Tong University and SLAMTEC to enhance applied research and talent development. These collaborations will offer SIT students opportunities for international exposure and participation in real-world projects.

SIT is also partnering with SkillsFuture Singapore to advance skills assessment and validation, supporting skills-based hiring and workforce development. From October 2025, SIT will introduce online skills assessments for AI-related skills and other competencies, ensuring that both employers and employees can effectively identify and develop necessary skills.

The Punggol Campus represents a forward-looking approach to education and industry collaboration, positioning Singapore as a leader in innovation and skills-based workforce development.

Porsche Asia Pacific has commenced construction on the Porsche Experience Centre Singapore, marking the brand’s first regional facility of its kind. Scheduled to open in 2027, the centre will be located on a 14-hectare site near Changi Airport and will include a two-kilometre handling circuit, drift circle, and themed exhibitions. This development aims to offer unique experiences for both families and driving enthusiasts.

The centre will be the 11th Porsche Experience Centre globally and will feature several world-firsts, including a fully integrated Aftersales facility. Sustainability is a key focus, with plans for an electric vehicle fleet and eco-friendly infrastructure, aligning with Singapore’s Green Plan 2030.

The groundbreaking ceremony was attended by key figures such as Hannes Ruoff, CEO of Porsche Asia Pacific, and Jean Ng, Assistant Chief Executive of the Singapore Tourism Board. Matthias Becker, Member of the Executive Board for Sales and Marketing at Porsche AG, highlighted the centre as a “signal of our long-term commitment to Southeast Asia.”

A Memorandum of Understanding was also signed with Changi Airport Group, integrating the centre into the broader Changi aviation and tourism precinct. This partnership aims to innovate visitor experiences and promote sustainable development. Jayson Goh, Executive Vice President of Airport Management at Changi Airport Group, remarked, “This partnership reflects our shared commitment to innovation, sustainability, and creating world-class experiences.”

The Porsche Experience Centre Singapore is expected to enhance Singapore’s lifestyle offerings and contribute to the vibrancy of the Changi precinct.

AIA Hong Kong and Macau has announced a strategic partnership with Concord Healthcare, a leading healthcare group in Mainland China, to provide more affordable cancer care options for employees. This collaboration, effective from 11 September 2025, allows eligible insured members of AIA’s designated group insurance plans to access discounted cancer proton therapy and health screening packages at Guangzhou Concord Cancer Centre, a flagship institution known for its advanced cancer treatment capabilities.

Cancer remains a significant health challenge in Hong Kong, with a new diagnosis occurring every 15 minutes. This partnership aims to address the need for accessible and affordable cancer treatment, particularly as proton therapy, a precise and non-invasive treatment, can be costly in Hong Kong. By offering these services at preferential rates, AIA seeks to alleviate financial stress for employees and improve health outcomes.

Amelie Shen, Chief Corporate Solutions Officer of AIA Hong Kong and Macau, stated, “At AIA, we go beyond traditional employee benefits by delivering holistic and innovative solutions that support Hong Kong’s workforce and their families. This partnership is more than a healthcare solution—it represents our commitment to helping organisations and their employees access more affordable advanced cancer care when they need it most.”

This initiative is part of AIA’s broader vision to create a proactive, integrated wellness ecosystem that supports prevention, resilience, and recovery for employees and their families. By leveraging this collaboration, AIA aims to help employers build more resilient and healthier workforces, enabling employees and their families to live healthier, longer, and better lives.

GP Industries Limited, a subsidiary of Hong Kong-listed Gold Peak Technology Group, has successfully completed a HK$504 million sustainability-linked loan facility. The three-year syndicated loan, arranged by The Bank of East Asia and four other major banks, aims to bolster GP Industries’ commitment to Environmental, Social, and Governance (ESG) principles amidst a challenging global environment.

The loan facility reflects strong confidence from the banking sector in GP Industries’ dedication to sustainable development. Victor Lo, Chairman of Gold Peak and GP Industries, stated, “The establishment of this SLL Facility not only affirms our strategic direction but also enhances our ability to pursue innovative financing solutions and operational best practices that underpin sustainable business growth.”

GP Industries plans to use the loan to support long-term investments in advanced manufacturing technologies and enhance operational efficiencies. The company has set ambitious targets to reduce greenhouse gas emissions by 20% by 2030 and achieve net-zero operational emissions by 2050. Michael Lam, Vice-Chairman of GP Industries, highlighted the company’s progress in sustainability, noting their transition to paper-based packaging for over 1,000 battery products in Europe, reducing plastic waste by 48 tonnes annually.

The loan includes a tiered incentive mechanism, offering interest reductions upon meeting sustainability targets. This initiative underscores GP Industries’ commitment to integrating sustainability into its corporate strategy, aiming to generate enduring value for stakeholders and the environment.