Industry News

Singaporeans are increasingly opting for regional travel, with Malaysia and Japan emerging as the top destinations for year-end trips, according to Visa’s latest data. The report highlights a significant rise in face-to-face card spending in these countries, reflecting a preference for regional, shorter-haul travel.

Malaysia maintained its position as the most popular travel corridor, with a notable 18% year-on-year increase in spending. Kuala Lumpur and Johor Bahru were the top destinations, experiencing growth of 31% and 17% respectively.

Japan followed closely, with a 5% increase in overall spending, driven by affluent travellers seeking winter activities in Hokkaido and Nagano.

Thailand and South Korea also remained key destinations, with Singaporeans exploring beyond major cities. Emerging hotspots like Chiang Mai and Chonburi in Thailand, and Busan and Jeju in South Korea, saw increased spending. Notably, healthcare spending in South Korea surged by nearly 90%, indicating a trend of seeking medical services abroad.

Mainland China climbed eight places to become the fifth most popular destination, with spending by Singaporeans rising nearly 80% year-on-year. This growth was fuelled by accommodation and retail spending, particularly in cities like Shenzhen and Chengdu.

Long-haul travel saw a decline, with France, the UK, and the US dropping in popularity. However, France recorded a 12% increase in spending, remaining a favourite among affluent travellers.

Adeline Kim, Visa’s Country Manager for Singapore and Brunei, noted, “Travel is a key category spend for Singapore residents, especially our affluent cardholders, who are spending three times more per trip than our mass segment cardholders.”

The Infocomm Media Development Authority (IMDA) has unveiled the TradeTrust Readiness Programme to accelerate the adoption of digital trade solutions within the maritime sector. Announced on 4 February 2026 during TradeTrust Appreciation Day, the programme seeks to foster partnerships between Digital Trade Platforms (DTPs) and shipping carriers to facilitate the seamless use of electronic Bills of Lading (eBLs) across various digital platforms.

The programme addresses a significant barrier to eBL adoption: the lack of coordination between carriers and digital trade platforms. By supporting paired DTP-carrier implementations, the initiative aims to align incentives across the supply chain, reducing risks and encouraging broader industry participation. Participating pairs will receive funding support upon achieving milestones such as successful TradeTrust integration and interoperability with other platforms.

In a significant industry milestone, four TradeTrust-enabled platforms—AEOTrade, BlockPeer, Credore, and SGTraDex—have received approval from the International Group of Protection and Indemnity (IG P&I) Clubs. This approval grants electronic trade documents the same legal status as paper documents, enhancing their commercial viability and boosting confidence in digital trade.

IMDA also recognised over 50 ecosystem partners at the inaugural TradeTrust Partner Awards for their contributions to advancing interoperable digital trade. The awards highlighted the progress from pilot projects to tangible commercial value, with nine partners receiving the highest honour of TradeTrust Champions.

The TradeTrust Readiness Programme, open to Singapore-registered enterprises and their international partners, will run until March 2027. This initiative, alongside global maritime insurance approvals, marks a pivotal step in transforming digital trade from concept to reality, reinforcing Singapore’s role as a leader in digital trade solutions.

The Housing Development Board (HDB) has unveiled its February 2026 Build-to-Order (BTO) and Sales of Balance Flat (SBF) exercises, offering a total of 4,692 new BTO flats across Bukit Merah, Sembawang, Tampines, and Toa Payoh. Kelvin Fong, CEO of PropNex, estimates an application rate of 3.0 to 3.5 times for the BTO exercise, slightly lower than the previous October 2025 exercise due to the concurrent availability of 4,320 SBF units.

The BTO exercise includes 1,316 Shorter Waiting Time (SWT) flats, with a wait of less than three years, which are expected to attract significant interest. Notably, the Redhill Peaks project in Bukit Merah, classified as Prime, is anticipated to be highly sought after due to its proximity to Redhill MRT station and local amenities. The Tampines Nova project, classified as Plus, is also expected to be popular, given its location near Tampines MRT station and several schools.

In contrast, the Sembawang Voyage and Sembawang Deck projects may see moderate interest due to their distance from MRT stations, although future developments in the area could enhance their appeal. The Kim Keat Crest project in Toa Payoh, offering 1,151 Plus classified units, is expected to draw interest despite potential traffic noise concerns.

Overall, the February 2026 BTO exercise offers a diverse range of options, with 4-room flats comprising the largest proportion of units. The availability of SWT flats and completed SBF units may influence buyer preferences, potentially impacting the HDB resale market. The next BTO exercise is scheduled for May 2026.

GE Aerospace has inaugurated a new module repair facility at Seletar Aerospace Park, Singapore, as part of its US$300m investment to enhance maintenance, repair, and overhaul (MRO) capabilities. This expansion, in collaboration with JTC Corporation and the Singapore Economic Development Board (EDB), aims to support the growth of CFM LEAP-1A/1B High-Pressure Turbine module repairs, serving customers across Asia Pacific and the Middle East.

The new facility is expected to significantly improve GE Aerospace’s regional MRO capabilities, reducing turnaround times and enhancing connectivity. Tim McQueen, Executive Director of the Global Component Repair Network at GE Aerospace, stated, “This expansion at Seletar Aerospace Park underscores our commitment to building in-region MRO capabilities that help reduce turnaround time and enhance connectivity for our customers across APAC and the Middle East.”

Lim Ai Ting, Group Director for Advanced Manufacturing at JTC, highlighted the advantages of the ready-built infrastructure at Seletar Aerospace Park, which allows for faster start-up and scaling of capabilities. “With plug-and-play facilities, companies can move straight into execution and be market ready sooner,” she noted.

Zheng Jingxin, Vice President and Head of Mobility at EDB, emphasised Singapore’s role as a trusted hub for aerospace operations. He remarked, “This latest investment adds advanced capabilities to our ecosystem amidst growing demand for MRO services, and will strengthen Singapore’s relevance and position as a critical node in the regional aerospace supply chain.”

The new facility reinforces Singapore’s strategic importance within GE Aerospace’s global MRO network, ensuring more efficient support for the LEAP fleet and enhancing the region’s aerospace infrastructure.

Singapore Aero Engine Services Limited (SAESL) has announced the signing of two Memoranda of Understanding (MoUs) at the Singapore Airshow 2026, aimed at bolstering its talent development strategy for the engine maintenance, repair, and overhaul (MRO) sector. The agreements, made with the Singapore Economic Development Board (EDB) and Singapore Polytechnic (SP), are part of SAESL’s comprehensive approach to nurturing a future-ready workforce.

The MoUs are integral to SAESL’s S$242m expansion and transformation programme, which seeks to enhance operational capacity and modernise facilities. The collaboration with SP is expected to strengthen the aerospace talent pipeline, whilst the partnership with EDB will focus on applied industry learning and accelerated in-house capability development through the establishment of a new SAESL Training Academy.

These initiatives are designed to deepen SAESL’s technical expertise and ensure a sustainable talent pipeline to meet future engine MRO demands. By investing in workforce development, SAESL aims to support long-term growth and maintain its competitive edge in the aerospace industry.

The Singapore Institute of Technology (SIT) has announced a series of new academic programmes and enhanced learning pathways for the 2026 academic year, aimed at bolstering Singapore’s workforce in the green and digital sectors. These initiatives include the Applied Sustainability Talent Programme (ASTP), new minors in Entrepreneurship and Artificial Intelligence, and a revamped Master of Health Sciences.

The ASTP is designed to develop “Sustainability Catalysts” by offering a Second Major in Applied Sustainability. This programme, developed in collaboration with industry leaders, aims to equip students with the skills needed to drive sustainable practices across various sectors. Participants will engage in a practice-driven curriculum, complete an industry-linked project, and partake in overseas immersion programmes.

In addition, SIT is introducing minors in Entrepreneurship and Artificial Intelligence. The Minor in Entrepreneurship builds on the SIT Entrepreneurship Education and Development (SEED) Programme, fostering entrepreneurial skills through applied learning and industry collaboration. Meanwhile, the Minor in Artificial Intelligence aims to provide students with the foundational knowledge to utilise AI in their respective fields, culminating in an industry-linked project.

SIT is also enhancing its Master of Health Sciences with a Competency-based Stackable Micro-credential pathway, allowing healthcare professionals to continuously upskill and adapt to emerging community needs.

Professor Chua Kee Chaing, President of SIT, stated, “Together, these programmes reflect how education must evolve to meet changing workforce needs.” The university will host its Open House on 7 and 8 February, offering prospective students a glimpse into its applied learning curriculum and industry partnerships. Applications for undergraduate admission open from 8 January to 19 March 2026.

HDB resale prices in Singapore experienced a 1.2% increase in January 2026, accompanied by a 15.1% rise in resale volumes, according to the latest report from 99.co and SRX. This rebound is attributed to the typical post-year-end market normalisation, as December often sees reduced activity due to holidays and deferred buying decisions.

The report highlights that prices in Mature Estates rose by 0.9%, whilst Non-Mature Estates saw a 0.7% increase. By room type, 3-room, 4-room, and 5-room flats experienced price hikes of 1.2%, 1.4%, and 0.9%, respectively, whereas Executive flats saw a 2% decrease. Year-on-year, overall prices increased by 2.4%, with Executive flats leading the growth at 3.1%.

A total of 2,351 HDB resale flats were transacted in January, marking a 0.9% increase compared to the same month last year. Notably, 58.8% of these transactions occurred in Non-Mature Estates. The highest resale price was S$1.56m for a 5-room flat at The Pinnacle @ Duxton, whilst the top price in Non-Mature Estates was S$1.18m for an Executive flat in Bukit Batok.

Additionally, 146 flats were sold for at least S$1m, slightly up from 145 in December. Queenstown led with 23 million-dollar transactions, followed by Toa Payoh and Bukit Merah with 20 and 17, respectively. These figures underscore the steady demand and resilience of the HDB resale market.

AIMS APAC REIT Management Limited has announced a 2.5% year-on-year increase in Distribution per Unit (DPU) to 7.250 Singapore cents for the nine months ending 31 December 2025. The REIT’s net property income rose by 4.1% to S$103.7m, driven by higher rental reversions and cost efficiencies.

The portfolio’s occupancy rate improved to 95.4%, with rental reversions at 8.0% for the period. The completion of the Framework Building acquisition and contributions from portfolio rejuvenation initiatives have bolstered the REIT’s resilience and growth prospects. CEO Russell Ng highlighted the strategic capital management efforts, including the issuance of S$150m in perpetual securities at a competitive rate of 4.1%, which enhances financial flexibility.

Chairman George Wang emphasised the REIT’s strong foundation and readiness to explore future growth opportunities, aiming for long-term sustainable returns for unitholders. The portfolio, supported by 188 tenants across various sectors, benefits from a high-quality, diversified tenant base, with 82.7% of gross rental income from essential and defensive industries.

Looking ahead, the Manager plans to focus on growth opportunities in key markets and industries, leveraging its robust balance sheet and strategic investments. With 65% of borrowings hedged and a significant portion of Australian income secured against currency fluctuations, AIMS APAC REIT is well-positioned to navigate economic uncertainties and pursue further acquisitions and organic growth initiatives.

Robeco has announced the registration of three actively-managed fixed income strategies for retail investors in Hong Kong and Singapore. The strategies—Robeco Credit Income, Robeco High Yield Bonds, and Robeco QI Dynamic High Yield—are now available for distribution partners to activate in these markets. Previously accessible on private banking platforms, these strategies aim to offer quality and resilience to retail investors.

The Robeco Credit Income Strategy, launched in 2018, is designed to meet the demand for income among Asian clients. It adopts a global approach, sourcing yield across investment-grade credit and high-quality segments of global high yield and emerging markets. The strategy incorporates sustainability analysis alongside traditional credit analysis and is managed by Evert Giesen and Jan Willem Knoll. As of December 2025, it managed $2.25b in assets, with over half sourced from Asian clients.

For those seeking high yield exposure, Robeco offers the High Yield Bonds Strategy, managed by Sander Bus and Roeland Moraal. This strategy focuses on quality, aiming to avoid losses and reduce drawdowns during market downturns. Robeco manages $12.7b in fundamental high yield bond strategies as of September 2025.

The Robeco QI Dynamic High Yield Strategy, operational since 2014, invests in Credit Default Swap indices and government bonds. It uses a dynamic timing model to allocate risk, offering liquidity in an otherwise illiquid asset class. Dawn Foo, Regional Head of Wholesale Distribution, Asia-ex Japan at Robeco, stated, “These strategies bring compelling opportunities for those seeking quality and resilience.”

Robeco, with a history in fixed income investing dating back to the 1970s, managed $75.2b in fixed income assets by the end of September 2025.

Space Summit 2026 wrapped up in Singapore, uniting government leaders, national space agencies, industry executives, researchers, and investors to explore the priorities of a globally interconnected space ecosystem. Held at Marina Bay Sands, the inaugural event attracted over 2,000 participants and featured more than 300 companies and organisations. Discussions centred on the growing role of space technologies in economic development, national resilience, and sustainability.

The summit highlighted the Asia-Pacific region’s expanding influence in the global space economy. Discussions underscored the shift from experimental projects to operational capabilities that address real-world needs. Speakers emphasised the necessity of clear policies, scalable supply chains, and robust partnerships to foster sustainable growth and attract private investment.

Another key theme was the need for stronger coordination across national programmes and stakeholders. Panellists stressed the importance of aligning national space priorities and enhancing collaboration between governments, industry, and research institutions. Shared standards and interoperable systems were deemed essential to improve efficiency and ensure the responsible use of space.

The summit also focused on transitioning from data collection to delivering real-world impact through Earth observation. Discussions highlighted the role of Earth observation in environmental monitoring, climate resilience, and infrastructure planning, advocating for data-sharing frameworks to maximise impact.

Leck Chet Lam, Managing Director of Experia Events, stated, “Space systems are now fundamental to how economies function and societies operate.” The summit will return on 25 and 26 February 2027, continuing to facilitate international dialogue on the future of the space industry.