Industry News

JCB International Co Ltd, the international operations subsidiary of Japan’s only international payment brand, has announced a collaboration with Resorts World Sentosa (RWS) in Singapore. This partnership aims to enhance the travel experience for Japanese tourists visiting the island nation. The collaboration introduces exclusive privileges for Japan-issued JCB cardmembers, including up to 20% savings on selected attractions and accommodation, as well as dining and retail benefits at participating outlets within RWS.

Resorts World Sentosa, located on Singapore’s premier resort island, is a leading integrated lifestyle destination, attracting millions of visitors annually. The collaboration with JCB is designed to offer Japanese guests curated experiences that enhance every stage of their visit, from iconic attractions to hotel stays.

Hiroko Michishita, Managing Director of JCB International Asia Pacific, highlighted the significance of the collaboration, stating, “Our launch of this programme comes at an opportune time amid a steady rise in Japanese tourist arrivals to Singapore.” Jenny Wang, Acting Senior Vice President of Resort Sales and Marketing at RWS, added, “We are pleased to partner with JCB to deepen our engagement with Japanese travellers and strengthen RWS’s presence in the Japan market.”

This initiative is part of a broader strategy to attract more Japanese tourists to Singapore, offering them compelling reasons to visit and extend their stay. The collaboration reflects a long-term commitment to building sustained relevance in Japan, positioning Resorts World Sentosa as Asia’s leading lifestyle destination.

Mammoet, the world’s largest heavy lifting and transport company, has signed a contract with Seatrium to manage the load-out of three substations for TenneT’s ambitious 2GW offshore grid connection programme. This initiative aims to link large-scale offshore wind farms to the European mainland, significantly advancing climate targets in the Netherlands, Germany, and beyond.

The project will see the installation of 15 high-voltage direct current (HVDC) offshore grid connection systems in the North Sea by 2032, each boasting a capacity of 2GW. This approach is expected to reduce environmental impacts by minimising the number of offshore facilities required.

Seatrium will handle the topside fabrication across its global yards, with each topside weighing over 30,000 tonnes. Mammoet will employ specialist skidding equipment to transfer these massive platforms from land to sea-going vessels, ensuring precise movement and minimising structural deflection.

Richard Verhoeff, Global Sales Director at Mammoet, expressed enthusiasm for the partnership, stating, “We are proud to partner with Seatrium for this innovative offshore wind programme, which will support Europe’s net-zero and energy independent ambitions. Our work is redefining the scale at which these key energy projects can be built.”

This collaboration marks a significant step in Europe’s journey towards energy independence and sustainability, with Mammoet’s expertise playing a crucial role in the project’s success. The use of advanced engineering solutions ensures the safe and controlled load-out of these colossal structures, setting a new standard for offshore energy projects.

Singapore residents are increasingly turning to self-storage solutions to manage their living spaces ahead of the Chinese New Year, according to data from Lock+Store. Between 1 October 2025 and 31 January 2026, the self-storage provider noted a significant rise in enquiries for small and mid-sized units, particularly the 24 sq ft option, as families prepare their homes for festive activities.

Lock+Store, a home-grown operator with 16 facilities across Singapore, revealed that the 24 sq ft unit—comparable to a small walk-in wardrobe—has become the most popular choice. This unit size is ideal for storing 20 to 25 standard moving boxes, suitcases, festive decorations, and small furniture, making it a practical solution for short-term storage needs.

Helen Ng, CEO of General Storage Company, which operates Lock+Store, stated, “Chinese New Year is when families want their homes to feel lighter, more organised, and ready for gatherings. We’re seeing more customers plan ahead and choose practical unit sizes that help them create space at home without having to give up the items that still matter to them.”

The data also highlighted the top items being stored, including boxes, clothes, books, and furniture. Ng noted that this trend reflects a shift towards responsible storage rather than discarding items, allowing families to enjoy a more comfortable home environment during the festive period.

As Singaporeans align their storage needs with new year routines, Lock+Store anticipates continued demand for smaller units, offering flexibility and convenience for residents looking to optimise their living spaces.

FDH Aero, a global supply chain solutions provider for the aerospace and defence industry, has unveiled its expanded facility at Seletar Aerospace Park in Singapore. Announced on the eve of the Singapore Airshow, the expansion doubles the company’s footprint, transforming the logistics hub into a comprehensive regional distribution centre. This development aims to enhance speed, reliability, and availability of hardware, electronics, consumables, and expendables for customers in the Asia-Pacific (APAC) region.

The new facility includes a dedicated floor for executive offices and modern meeting suites, whilst the original space is now fully utilised for operations and warehouse capacity. This infrastructure supports FDH Aero’s growth ambitions in the region. Matthew Lacki, President of FDH Hardware, stated, “By doubling our space, we are increasing the scale and service of our operations and empowering our local teams to engage with customers and provide supply chain solutions locally.”

The facility serves as a crucial link for FDH Aero’s clients in East and South Asia, allowing for faster and more autonomous operations. Cody Ho, Managing Director of FDH Aero APAC, emphasised the importance of local decision-making, saying, “We are bringing strategic decision-making closer to our customers, so they can confidently act in real-time within one of the world’s fastest growing aviation markets.”

The expansion is driven by significant contract wins and growing demand in the commercial and defence sectors, including a strategic partnership with the Commercial Aircraft Corporation of China (COMAC) for its C919 platform. This positions FDH Aero to better support sub-tier manufacturers in South Korea and Japan with improved agility and local expertise.

AWE Asia 2026 wrapped up in Singapore this week, bringing together the global extended reality (XR) and artificial intelligence (AI) community for three days of insightful discussions and demonstrations. The event underscored the growing importance of XR as foundational infrastructure for AI systems, which are increasingly moving beyond screens into real-world environments. AWE co-founder Ori Inbar emphasised, “There is no AI without XR,” setting the tone for the conference.

The event featured keynotes and sessions exploring the practical applications of AI and XR. Atley Loughridge from Snap Inc highlighted the transition of Snap’s augmented reality (AR) stack from experimentation to global production, showcasing its deployment across mobile, web, and wearables. Alvin W Graylin discussed the importance of trust and responsibility in AI-driven XR systems, whilst Mark Billinghurst introduced “Empathic XR,” which uses physiological sensing and AI to enhance applications in healthcare and training.

A developer panel led by Steven Xu of Snap Inc focused on building spatial experiences using Lens Studio, whilst Matt Sanders from Meta explored the potential of wearable AI to foster independence. Beng Hui Ong from Agora presented a case study on AI in toys, illustrating the synergy between spatial technologies and AI.

The expo floor featured live demonstrations, including Snap’s Spectacles, and the debut AWE Asia Startup Pitch. The Auggie Awards recognised standout contributions, with Braillic named Startup to Watch and Snap winning Best in Show. The event concluded with a call for stronger governance in AI, emphasising its alignment with human wellbeing.

The 2025 Global CEO Turnover Index by Russell Reynolds Associates reveals a record-high CEO turnover globally, with the Asia Pacific (APAC) region experiencing its highest number of departures in seven years. In 2025, 234 CEOs exited their roles worldwide, marking a 16% increase from 2024. APAC alone saw 87 departures, a 26% rise from the previous year.

The report highlights a significant trend in APAC, where 94% of new CEO hires were first-time leaders, and 73% of appointments were internal promotions. This indicates a strategic shift towards leveraging internal talent and fresh perspectives to navigate complex market conditions. Euan Kenworthy, Country Lead for Singapore at Russell Reynolds Associates, noted, “The role of the CEO has become materially harder, burdened by increased media scrutiny, a more demanding investor base, faster technology adoption, and regulatory challenges.”

CEO tenures have also shortened, with the global average declining to 7.1 years from 7.4 years in 2024. In APAC, the average tenure is now 5.9 years, with Singapore’s outgoing CEOs showing a slightly longer tenure of 7.3 years. This trend reflects increased board scrutiny and a proactive approach to leadership changes.

For the first time, planned CEO successions (32%) surpassed retirements (26%) as the primary reason for departures. Kenworthy emphasised the importance of robust succession planning, stating, “Getting CEO succession right has never been more important, or more complex.” As organisations face heightened expectations and market volatility, the focus is on building a strong leadership pipeline to ensure continuity and adaptability.

Huawei and SP Mobility have unveiled Singapore’s first ultra-fast electric vehicle (EV) charging station with integrated battery energy storage, marking a significant advancement in the nation’s public charging infrastructure. The launch, held at Temasek Polytechnic, was officiated by Baey Yam Keng, Minister of State for the Ministry of Culture, Community and Youth & Ministry of Transport.

The new charging station features Huawei’s liquid-cooled ultra-fast direct current technology, combined with a battery energy storage system (BESS). This system stores electricity during off-peak hours and discharges it during charging, reducing demand on the grid and enabling faster charging. The charger boasts a maximum power rating of 480kW, making it one of the highest capacity public chargers in Singapore.

Key features of the station include the ability to add up to 200km of range in approximately five minutes for compatible vehicles, significantly reducing charging time for commercial fleets and high-mileage drivers. This development supports SP Mobility’s partnership with Goldbell Group to electrify commercial and heavy vehicles in Singapore.

Maxi Wang, CEO of Huawei International, highlighted the strategic importance of this launch, stating, “This site is a game-changer; it demonstrates that we are prepared to scale up ultra-fast deployments across the island to meet Singapore’s surging demand for EVs.”

The integration of BESS enhances the feasibility of deploying advanced chargers in urban areas with limited electrical infrastructure, providing a model for future high-power charging without extensive upgrades. This initiative aligns with Singapore’s 2040 EV vision and aims to support the growing e-mobility ecosystem by offering faster and more reliable charging solutions.

DBS Group has reported a record profit before tax of S$13.1b for 2025, marking a slight increase from the previous year. This achievement comes as the bank’s total income rose by 3% to a new high of S$22.9 billion, despite facing challenges from a difficult rate environment. The group’s net interest income saw modest growth, bolstered by proactive hedging and record deposit growth, which countered the effects of lower interest rates and a stronger Singapore dollar.

The bank’s fee income and treasury customer sales reached unprecedented levels, driven by wealth management, whilst markets trading income was the highest since 2021. The cost-income ratio remained stable at 40%. Asset quality was maintained, with the non-performing loan (NPL) ratio stable at 1.0%, despite a prudent downgrade of a previously watchlisted real estate exposure to NPL in the fourth quarter.

Net profit for the year was 3% lower at S$11b, primarily due to increased tax expenses following the implementation of a 15% global minimum tax. The return on equity stood at 16.2%, with a return on tangible equity of 17.8%. DBS CEO Tan Su Shan commented, “Record profit before tax and return on equity of 16% were a testament to the resilience and adaptability of our franchise amidst rate and tax headwinds.”

The bank anticipates continued rate pressures and geopolitical tensions but remains confident in its strong balance sheet and franchise quality as a foundation for the coming year.

AWC Berhad, a leading engineering services group, has secured three contracts for automated pneumatic waste collection systems (AWCS) in Malaysia and Singapore. The contracts, awarded to subsidiaries Stream Environment Sdn. Bhd. and Stream Environment (S) Pte. Ltd., were finalised on 14 January, 5 February, and 6 February 2026. These projects are expected to enhance AWC’s market presence and contribute positively to its earnings until their completion in August 2029.

The Group’s CEO, Ahmad Kabeer bin Mohamed Nagoor, highlighted the significance of these wins, particularly noting a project for a public facility in Singapore. “This underscores the confidence placed in our technical expertise and our ability to meet stringent operational requirements,” he stated. The contracts bring AWC’s cumulative wins in FY26 to approximately RM450m, providing clear earnings visibility.

AWC’s Environment Division is a global leader in AWCS, having completed notable projects such as the world’s tallest AWCS at Merdeka 118. The Group anticipates continued growth in Malaysia and expects the Singapore market to offset a slowdown in the Middle East. The increasing emphasis on sustainability and efficiency in urban environments presents growth opportunities for modern waste management solutions, with AWCS becoming integral to urban infrastructure.

AWC Berhad, headquartered in Subang Jaya, Malaysia, operates in facilities management, environment, engineering, and rail sectors across Asia and the Middle East.

Ever Glory United Holdings Limited has announced the acquisition of new contracts worth S$508m, boosting its total order book to S$732.8m as of 31 December 2025. The contracts span high-value sectors such as healthcare, hospitality, and public infrastructure, underscoring the company’s diverse project portfolio.

The CEO and Executive Director of Ever Glory, Xu Ruibing, described 2025 as a pivotal year for the company. “Crossing the half-billion-dollar mark in new contract wins is more than just a financial milestone – it is a powerful endorsement of our technical prowess and our clients’ unwavering confidence in our ability to deliver mission-critical infrastructure,” he stated. The company is involved in constructing essential infrastructure across Singapore, from hospitals to luxury hospitality venues.

Looking ahead to 2026, Xu expressed optimism about the company’s future, citing the thriving construction and infrastructure market in Singapore. With a robust pipeline of opportunities, Ever Glory is well-positioned to secure additional significant projects in the coming years. Xu emphasised the company’s commitment to disciplined execution and leveraging integrated capabilities to deliver superior value to stakeholders and partners.

The momentum achieved in 2025 sets the stage for stronger performance, reinforcing confidence in Ever Glory’s long-term growth trajectory. As the company continues to expand its project portfolio, it remains focused on capitalising on emerging opportunities within Singapore’s dynamic market.