Industry News

The Maritime and Port Authority of Singapore (MPA) has announced that it will issue licences to Global Energy Trading Pte Ltd, Golden Island Pte Ltd, and PetroChina International (Singapore) Pte Ltd to supply methanol as marine fuel in the Port of Singapore starting 1 January 2026. This initiative follows a Call for Applications launched in March 2025 and aims to position Singapore as a sustainable multi-fuel bunkering hub.

The selection of these three companies, from a pool of 13 applicants, was based on a rigorous evaluation process. The criteria included supply chain reliability, operational readiness, safety systems, and the sustainability certification of the methanol to be supplied. The strong interest in the licences underscores the maritime sector’s increasing focus on lower-emission marine fuels.

The licences will be valid for a five-year period, from 1 January 2026 to 31 December 2030, allowing the licensees to develop capabilities, strengthen supply chains, and make initial investments as the methanol bunkering market evolves. This timeframe is designed to support the early development of methanol bunkering infrastructure and operations.

MPA has committed to continuously reviewing the licensing framework to ensure it remains aligned with global standards and responsive to technological advancements and operational experiences. This approach aims to maintain Singapore’s competitive edge as a leading maritime hub.

RHB Singapore has unveiled its new Parkway Premier Centre at Parkway Parade, marking a significant expansion aimed at enhancing services for personal, priority, and business clients. The centre’s design, inspired by Peranakan traditions, combines modern banking with cultural heritage, offering a unique customer experience.

To commemorate the launch, RHB is offering clients who purchase insurance or investment products limited-edition Peranakan-themed collectibles. Additionally, from 21 to 25 November, clients can redeem a box of three Pandan Gula Melaka cupcakes and a beverage voucher at The Coffee Bean & Tea Leaf by showing their RHB SG Mobile Banking App login. This offer is limited to the first 300 customers, with a cap of 100 redemptions per day.

Coreen Kwan, Head of Retail Banking at RHB Singapore, stated, “The new Parkway Premier Centre reflects RHB’s commitment to delivering personalised, culturally connected banking experiences for all our clients, from everyday banking to wealth planning.”

RHB invites clients and visitors to explore the new centre at Parkway Parade, B1-83A. The Parkway Premier Centre aims to blend modern banking facilities with a strong sense of cultural heritage, creating a warm and welcoming environment. This expansion is part of RHB’s strategy to strengthen its position as a trusted bank within the community.

Global talent solutions firm Robert Walters has released its 2026 Salary Survey, revealing significant trends in Singapore’s job market. The survey indicates a challenging year ahead, with a persistent skills mismatch in AI, data, and cloud sectors. Companies are cautious with wage planning due to economic uncertainties, whilst candidates seek job offers that include flexibility and learning opportunities.

The survey highlights that 37% of employers plan to increase headcount, primarily by 5-10%, and 69% intend to offer at least a 3% salary increment for current employees in 2026. However, a gap exists between employer and employee expectations, with 83% of job-seeking professionals anticipating a pay rise of over 10%.

AI’s growing influence is evident, with 78% of businesses expecting up to half of their workforce to require reskilling due to AI advancements. Employers are prioritising skills such as critical thinking, data analysis, and adaptability. Concerns over AI adoption include job displacement and algorithmic bias.

Flexible workforce models are gaining traction, with 55% of companies hiring contractors for project-based needs. This approach helps firms remain agile amidst cost pressures and talent shortages. The survey underscores the importance of soft skills, with 65% of employers valuing interpersonal and communication abilities.

As Singapore navigates these changes, the demand for skilled professionals in AI, cloud, and cybersecurity remains high. The survey suggests that companies must adapt to these evolving dynamics to attract and retain talent effectively.

A rare opportunity has emerged for investors with the availability of a four-storey commercial shophouse on Joo Chiat Road, marketed by PropNex ShophouseHuat and Steward. This freehold property, located in the heart of the Katong–Joo Chiat conservation precinct, boasts a substantial land area of 5,690 square feet and offers significant potential for asset enhancement.

The property is zoned as Commercial GPR 3.0 under the Urban Redevelopment Authority (URA) Master Plan, and includes a backlane strip that could be amalgamated with neighbouring lots for integrated development, subject to planning approval. This amalgamation could increase the gross floor area (GFA) by approximately 790 square feet, enhancing the property’s value.

The shophouse is strategically positioned in a vibrant area known for its heritage and lifestyle appeal, which is expected to benefit from the URA’s Draft Master Plan 2025. This plan includes initiatives such as a conceptual pedestrian mall and the activation of back lanes, which are anticipated to boost footfall and retail trade in the area.

Loyalle Chin, Director of PropNex ShophouseHuat, highlighted the property’s appeal, stating, “With approximately 16,034 new homes coming onstream, we anticipate further regentrification in the Joo Chiat precinct, attracting a deeper pool of reputable lifestyle and F&B operators.”

The asking price for 182 Joo Chiat Road starts at $10.6m (S$14.5m), with eligibility for purchase extended to foreigners and corporate entities without the imposition of Additional Buyer Stamp Duty. This offering presents a compelling investment opportunity in a rapidly evolving district.

Cathay United Bank Singapore Branch has made history by becoming the first Taiwanese bank to launch corporate bond offerings in Singapore. This significant development, announced in November 2025, underscores the bank’s strategic focus on enhancing its corporate banking services amidst the evolving global business landscape.

The introduction of corporate bond offerings by Cathay United Bank (CUB) comes as Taiwanese and multinational companies increasingly expand into Southeast Asia, driven by geopolitical shifts and realigned supply chains. Singapore’s political stability, transparent legal framework, and open capital markets have positioned it as a key hub under Taiwan’s New Southbound Policy. In 2024, Taiwanese investments in Singapore reached a record $5.8b, accounting for 12% of Taiwan’s total outbound investment.

Winfield Wong, Chief Executive of Cathay United Bank Singapore Branch, highlighted the growing demand for liquidity management tools and digitalised financial services. “Corporations are no longer simply opening offshore accounts; many are setting up investment holding entities or payment centres to enhance capital efficiency,” Wong stated. The new corporate bond services aim to support clients in hedging liquidity planning and operational optimisation.

Cathay Financial Holdings, the parent company of CUB, boasts over 60 years of experience in Asia, with 969 business locations and more than $400b in assets under management. Since its establishment in Singapore in 2009, CUB has provided tailored financial solutions to meet the diverse needs of corporate and private banking clients.

Looking ahead, Cathay United Bank remains committed to supporting Taiwanese businesses in their global expansion efforts, helping clients navigate market challenges and seize new opportunities.

Coliwoo has announced a 50:50 joint venture with Macritchie Developments to acquire the REHAU Building at 1 King George’s Avenue. This strategic move aims to transform the commercial property into a mixed-use space combining co-living and commercial facilities. The freehold site is advantageously positioned near two MRT stations, several educational institutions, and the Central Business District (CBD).

Kelvin Lim, Executive Chairman and CEO of Coliwoo, highlighted the significance of this acquisition, stating, “This joint venture acquisition allows us to add a strategically located property to our portfolio, increasing our keys under management and advancing our growth trajectory. The REHAU Building represents the type of value-creation opportunity we actively pursue – converting an underutilised commercial space into co-living spaces that address genuine market demand.”

The acquisition aligns with Coliwoo’s strategy to expand its portfolio through strategic partnerships, optimising capital deployment whilst meeting market demand for co-living spaces. This development is part of Coliwoo’s broader growth trajectory, aiming to enhance its presence in the property market by leveraging underutilised spaces.

The joint venture is expected to bolster Coliwoo’s position in the market, offering innovative living solutions in prime locations. The transformation of the REHAU Building into a mixed-use development underscores the company’s commitment to addressing the evolving needs of urban dwellers.

Changi General Hospital (CGH) has announced the establishment of the Lee Yong Kiat Faculty Professorship in Academic Healthcare Leadership and Medical Humanities, marking its 90th anniversary. The announcement was made during a celebratory dinner attended by Ong Ye Kung, Minister for Health and Coordinating Minister for Social Policies. This professorship, the first of its kind in Singapore, aims to integrate clinical practice with a broader understanding of patient care and ethics, honouring the legacy of the late Professor Lee Yong Kiat.

Named after Professor Lee, a pioneer in Singapore’s medical community, the professorship seeks to support emerging healthcare leaders in research and innovation. Professor Lee was renowned for his holistic approach to healthcare, combining scientific excellence with patient-centred care. Clinical Professor Ng Kee Chong, CEO of CGH, stated, “This faculty professorship will ensure that his values and vision continue to nurture and shape healthcare leaders.”

In addition to the professorship, CGH launched a commemorative coffee table book titled ‘Together, We Flourish: 90 Years of Innovative Care’, chronicling the hospital’s journey from its beginnings as a ‘cottage’ hospital to a comprehensive healthcare campus. The book highlights CGH’s commitment to innovation and excellence in healthcare.

CGH continues to advance medical care with initiatives such as the AI-powered Wound Care Management Mobile App and the CGH-NNI Integrated Spine Centre’s pioneering awake, robot-assisted spinal surgery. These efforts reflect CGH’s dedication to meeting Singapore’s evolving healthcare needs and its mission to advance healthcare for the future.

Singapore’s office employees are adapting to return-to-office (RTO) mandates, yet expectations for flexibility and workplace wellbeing are on the rise, according to JLL’s 2025 Workforce Preference Barometer. The survey, which included 500 Singaporean office workers, highlights that whilst 69% face required in-office days, a significant portion is advocating for flexible work hours, enhanced wellbeing amenities, and digital upskilling.

The survey indicates that nearly half of the workforce experiences moderate to high burnout, underscoring the importance of wellbeing and time autonomy in attracting and retaining talent. “Singapore’s office professionals have shown considerable resilience and adaptability in embracing return-to-office policies, but their expectations around time autonomy, wellbeing, and continuous digital upskilling are advancing rapidly,” said Kamya Miglani, Head of Work Dynamics Research, Asia Pacific, JLL.

Despite broad support for RTO policies, 37% of employees express concerns about potential impacts on productivity and quality of life. Satisfaction with workplace features such as desk availability and natural lighting is high, yet gaps remain in access to wellness spaces and creative environments. Notably, 82% of those satisfied with their workplace express positive sentiment towards RTO policies.

Flexibility in working hours is a decisive factor, with 61% of employees willing to switch employers for better flexibility. However, only 41% currently enjoy flexible work hours. Additionally, burnout affects 49% of the workforce, with those experiencing it being three times more likely to consider changing jobs.

Singapore leads in AI skills training, with 71% of employees participating in employer-led programmes, though only 30% feel confident using AI tools. This skills gap is particularly pronounced among those aged 50 and above. As expectations for flexible hours and comprehensive workplace amenities rise, employers must rapidly adapt to meet these demands.

Sumsub, a leader in verification and anti-fraud solutions, has announced two significant initiatives at its inaugural What The Fraud Summit in Singapore, held from 19 to 20 November 2025. The company introduced the integration of Singpass into its Non-Doc Verification platform and signed a Research Collaboration Agreement with Nanyang Technological University (NTU) to develop watermarking for personal images, aiming to combat deepfake fraud in the Asia-Pacific region.

The integration of Singpass, Singapore’s national digital identity platform, allows businesses to authenticate Singaporean citizens and residents efficiently, reducing onboarding time from 30 seconds to just 4.5 seconds. This seamless, document-free process enhances security and compliance with local regulations, benefiting sectors such as fintech, insurance, and telecommunications.

In collaboration with NTU, Sumsub will explore the use of human-imperceptible watermarks in personal images to prevent deepfake generation. This initiative addresses the growing threat of deepfake fraud, which has surged by 158% year-on-year in Singapore. The research aims to fill a critical gap in digital safety by developing scalable defences against misuse of personal images.

Andrew Sever, co-founder and CEO of Sumsub, highlighted Singapore’s role as a global leader in digital ecosystems, stating, “Facilitating integration with Singpass and our research partnership with NTU reflect our commitment to supporting the country’s digital trust ecosystem.”

The WTF Summit gathered over 500 leaders from various sectors to discuss challenges in AI-driven fraud and digital identity, reinforcing Singapore’s position as a hub for digital trust innovation. Sumsub’s initiatives align with Singapore’s Smart Nation 2.0 priorities, aiming to build a safer and more inclusive digital future.

A rare opportunity has emerged in Singapore’s property market as a freehold hilltop estate in District 11 is listed for sale for the first time in 70 years. Located off Dunearn Road and Shelford Road, the estate is being offered via private treaty with a guide price of $55m, translating to approximately $2,273.57 per square foot for its 24,189 square feet land area.

The property, discreetly nestled behind mature greenery, offers privacy and exclusivity, accessible via a gently rising driveway. Originally completed in 1953, it predates much of the modern Bukit Timah landscape. Henry Benjamin Lim, Associate Branch District Director and Head of GCB and Prestige Landed at PropNex, highlighted the site’s redevelopment potential under the Urban Redevelopment Authority’s (URA) 3-storey mixed landed zoning. “Its natural elevation supports the possibility of 4 to 4.5-storey homes, including a basement level that can be incorporated without impacting the surrounding streetscape,” Lim stated.

The estate’s regular land shape allows for efficient subdivision planning, with feasibility studies exploring configurations such as four substantial detached homes or up to ten landed homes, subject to regulatory approval. Its proximity to leading schools, MRT stations, and major transport corridors enhances its long-term desirability and value resilience.

This unique offering combines freehold tenure, elevation, and redevelopment flexibility, making it a scarce opportunity in Singapore’s premium residential market.