Industry News

HSBC has launched its Tokenised Deposit Service (TDS) in Singapore, expanding its blockchain-based payment capabilities across Asia. This service, initially launched in Hong Kong SAR, allows for 24/7 real-time instant settlement of cross-border transactions between Hong Kong SAR and Singapore. It aims to enhance treasury operations and cash flow management, crucial in managing liquidity amidst volatile foreign exchange and interest rate environments.

The introduction of TDS underscores Singapore’s position as a leading international treasury hub, where corporations are increasingly adopting digital treasury models. The service is expected to streamline operations for businesses operating across these financial centres.

Linklaters, a global law firm, advised HSBC on this launch. The team was led by Peiying Chua, Head of Singapore Financial Regulation and Asia Head of Fintech, with support from associate Alcander Seah.

Chua remarked, “This transaction exemplifies the convergence of traditional banking and cutting-edge digital solutions. We are proud to support our client in delivering a service that not only enhances operational efficiency but also sets a new benchmark for cross-border financial innovation in Asia.”

Linklaters has been at the forefront of digital asset innovation, having advised on several market-firsts in the region. These include the token offering for Zilliqa, a Singapore-based blockchain platform, and the world’s first blockchain-based fractional bond trading platform, BondbloX.

The launch of HSBC’s TDS in Singapore marks a significant step in the bank’s strategy to leverage blockchain technology for enhanced financial services, potentially setting a precedent for future innovations in the sector.

Singlife, a leading financial services company, has announced a partnership with CIMB Singapore aimed at bolstering the resilience and growth of small and medium-sized enterprises (SMEs). The collaboration, formalised through a Memorandum of Understanding (MOU), will see Singlife providing bespoke insurance solutions to help SMEs manage risks and focus on sustainable growth.

The partnership is part of CIMB’s SME Resilience Circle, an initiative designed to support SMEs in Singapore and the region by integrating financial and protection solutions. A notable feature of this initiative is the CIMB FlexiPay, a “pay-as-you-earn” working capital loan that adjusts repayments based on daily revenue, offering businesses flexibility in cash flow management. Currently available to CIMB’s commercial banking clients, the partnership will explore extending this feature to Singlife’s clientele.

Singlife plans to offer embedded insurance solutions, including mandatory SME coverage and employee benefits programmes, to protect workforce and operations. Sandeep Nair, Head of Sales at Singlife, highlighted the importance of such initiatives, stating, “By embedding insurance into initiatives such as CIMB FlexiPay, we are helping business owners manage growth whilst protecting their people and operations.”

Benjamin Tan, Head of Commercial & Transaction Banking at CIMB Singapore, emphasised the ecosystem’s role in equipping SMEs with necessary tools and insights for sustainable growth.

This collaboration expands Singlife’s role in creating a resilient financial ecosystem for SMEs, reinforcing its commitment to integrating investment and insurance solutions for enhanced financial security and growth.

Westcon-Comstor’s recent research has unveiled significant gaps in the readiness of Singaporean channel partners to deliver AI-driven networking solutions. Despite a strong demand from customers, 82% of partners in Singapore report being unable to design and implement AI-ready networks. This figure is notably lower than the global average of 26%, positioning Singapore at the bottom among the five countries surveyed.

The study, conducted with 500 senior decision-makers across various countries, highlights that only 18% of Singaporean partners currently offer advanced AI-integrated network services. Furthermore, less than a third believe their customers’ existing network infrastructures are fully prepared for AI workloads, compared to a global average of 33%.

Whilst many partners in Singapore are developing their AI capabilities, with 61% actively doing so and 20% exploring AI, the readiness challenges remain acute. Most partners are engaged in network transformation areas like visibility and security, but fewer are involved in emerging technologies such as zero-trust architecture and intent-based networking.

The research, part of Westcon-Comstor’s Future Ready programme, identifies barriers such as integration with existing systems and security concerns. However, it also points to growth opportunities, with 48% of Singaporean respondents identifying AI-powered network observability and diagnostics as a major revenue driver in the next 12–18 months.

Wilson Ho, Managing Director, Asia, Westcon-Comstor, emphasised the urgency for Singapore’s channel partners to embrace AI-driven solutions, stating, “The time to act is now.” Patrick Aronson, Chief Marketing Officer, added, “Partners have a rare window to step up as true strategic advisers.”

Jobstreet by SEEK has unveiled a report titled “The Great Expectation Gap: Rethinking Work and Worth in Singapore,” revealing a significant disconnect between employee expectations and workplace realities. The study, conducted with Milieu Insight, surveyed 800 employees and employers, highlighting that eight in ten employees feel their jobs do not match initial promises, with six in ten recognising this within the first three months.

The report identifies key causes of job mismatch, including pay misalignment (24%), unclear roles (22%), and culture mismatch (19%). Mid-career professionals aged 35–44 are most affected, with 62% spotting discrepancies early on. Younger workers, aged 25–34, often find job scopes differ from advertisements, whilst older employees, aged 45–54, notice mismatches in benefits and recognition.

Despite these challenges, employees are making pragmatic trade-offs. Nearly half (49%) would trade prestige for a better workplace culture, and 32% would accept less job security for higher pay. Employers, facing skills shortages (44%) and budget pressures (39%), are also adapting, with 64% willing to hire less-experienced candidates for lower pay.

Yuh Yng Chook, Director of Asia Sales and APAC Service at Jobstreet, noted, “The expectation gap is a reflection of how quickly Singapore’s employment landscape is evolving.” The report suggests that bridging this gap requires a shared understanding of fairness, focusing on competitive pay, culture alignment, and transparent communication.

Qingjian Realty and Forsea Holdings, in collaboration with ZACD Group and Jianan Capital, are set to preview Coastal Cabana, a new executive condominium in Pasir Ris, starting 6 December 2025. This 748-unit development, located along Jalan Loyang Besar, is the first of its kind in the area in more than ten years. It promises a blend of coastal tranquillity and urban convenience, with prices starting at $1,200 (S$1,639) per square foot.

Coastal Cabana is strategically positioned near Pasir Ris MRT and Downtown East, offering residents easy access to a variety of amenities. The development features 16 residential blocks with three- to five-bedroom units ranging from 872 to 1,421 square feet. It is designed to cater to families, providing spacious layouts and over 65 family-oriented amenities, including a two-storey clubhouse and four swimming pools.

Du Dexiang, Managing Director of Qingjian Realty, highlighted the project’s appeal to upgraders and aspiring homeowners, noting the uncertain future supply of executive condominiums in the area. Wang Xin, Director at Forsea Holdings, emphasised the thoughtful design and quality of the homes, which harmonise with the coastal character of Pasir Ris.

The development is part of the ongoing rejuvenation of Pasir Ris, with the Urban Redevelopment Authority’s Draft Master Plan 2025 set to introduce further enhancements. Coastal Cabana is expected to achieve vacant possession by 31 March 2029, with sales launching on 17 January 2026.

The Singapore Business Federation (SBF) has inaugurated its first Singapore Enterprise Centre (SEC) in the Middle East, located in Dubai, United Arab Emirates. This development is part of SBF’s GlobalConnect@SBF initiative, designed to bolster Singapore companies’ expansion into overseas markets. The SEC@Dubai will provide market advisory, networking, and business matching support to Singapore enterprises looking to explore opportunities in the Gulf region.

The launch event was attended by Singapore’s Minister for Manpower, Dr Tan See Leng, and Chairman of Dubai Chambers, Sultan Bin Saeed Al Mansoori, among other dignitaries. The UAE, with an economy valued at US$569b and projected to grow by 4.8% in 2025, is a key market for Singapore. Bilateral trade between the two nations reached S$24b in 2024, highlighting the strong economic ties.

The SEC@Dubai will act as a strategic gateway for Singapore firms targeting markets in the Middle East, including Saudi Arabia, Jordan, and Qatar. The centre will support small and medium-sized enterprises (SMEs) through various programmes and workshops. Kok Ping Soon, CEO of SBF, noted the UAE’s role as a top trading partner and emphasised the growing demand for Singapore enterprises in the region.

The initiative aligns with Enterprise Singapore’s efforts to strengthen economic ties and create sustainable growth pathways in the Middle East. The SEC@Dubai is expected to play a crucial role in facilitating Singapore’s trade and investment ties with the Gulf Cooperation Council region.

The HDB resale market in Singapore is entering a period of stabilisation, according to Huttons Asia’s latest outlook for 2026. After years of rapid price growth, the market is expected to see a more modest increase of around 3% in 2025, a significant drop from the 9.7% rise recorded in 2024. Transaction volumes are also projected to fall to 25,500, the lowest since the COVID-19 pandemic in 2020.

The slowdown in the resale market is attributed to government policies aimed at increasing the supply of Build-To-Order (BTO) and Sale of Balance Flats (SBF). From 2021 to 2025, HDB launched 102,433 BTO flats, with nearly 28% of 2025’s launches having a waiting time of 36 months or less. This increased supply mirrors the period from 2011 to 2014, which saw a similar easing in resale prices.

Additionally, policy adjustments in October 2024 allowed singles to purchase 2-room flexi BTO flats in all locations, and increased the allocation for second-timer families by 5 percentage points. These measures have contributed to the reduced demand in the resale market.

Despite the overall market slowdown, the number of million-dollar flat transactions is expected to rise by nearly 50% to 1,550 in 2025. These high-value flats, often centrally located and less than 10 years old, continue to attract buyers.

Looking ahead, the number of flats reaching their 5-year Minimum Occupation Period (MOP) is set to increase in 2026, potentially leading to more million-dollar transactions. Huttons estimates that resale flat prices will grow between 1% and 4%, with transactions ranging from 24,000 to 27,000.

A recent study by the Singapore Management University (SMU) Centre for Research on Successful Ageing (ROSA) has found that whilst older Singaporeans are supportive of the Healthier SG initiative, their lifestyle habits are not keeping pace. The research, released on 19 November 2025, indicates that despite the availability of clinical services, wellness services remain underutilised, and there is a lack of understanding about the importance of consistent primary care.

The study underscores the need for environmental changes that make healthy choices more intuitive and integrated into daily life. This is crucial as Singapore transitions into a super-aged society, where the proportion of older adults is significantly higher. The report suggests that bridging the gap between policy and practice requires more than just awareness; it needs actionable steps that encourage healthier living.

A symposium is scheduled to address these challenges and explore opportunities to enhance pro-health behaviours among Singaporeans. The event aims to bring together experts to discuss strategies for making healthy living a seamless part of everyday life. The findings highlight the importance of not only implementing strong health policies but also ensuring they translate into everyday actions, particularly for older adults.

As Singapore continues to age, the focus will be on creating environments that support healthier lifestyles, ensuring that the nation’s health initiatives are both effective and sustainable.

Global design firm WATG is marking its 80th anniversary by unveiling a forward-thinking vision for luxury, spearheaded by its first APAC-based Global CEO, David Moore. With 30 years of experience in Singapore, Moore is leveraging decades of data to redefine luxury, emphasising that “experiential luxury is the new currency.”

WATG’s innovative approach is exemplified by projects such as the artful reimagining of the Dangkou Ancient Town Hotel Wuxi, part of the MGallery Collection, and the transformative JW Marriott Jeju. These developments highlight the firm’s commitment to blending cultural heritage with modern luxury, setting new benchmarks in the industry.

Moore’s leadership from the Singapore hub is pivotal as the firm continues to expand its influence across the Asia-Pacific region. By focusing on experiential luxury, WATG aims to cater to the evolving preferences of modern travellers, offering sophisticated and culturally enriched experiences.

As WATG looks to the future, its projects like the Regent Bali Canggu and Lagen El Nido are poised to set new standards in luxury hospitality, combining elegance with environmental consciousness. This strategic direction not only celebrates the firm’s rich history but also charts a bold path forward in the luxury design landscape.

Nutanix, a leader in hybrid multicloud computing, has entered into a strategic Memorandum of Understanding (MOU) with SBS Transit, Singapore’s leading public transport operator. Announced at the International Metro Operators’ Summit 2025, the collaboration aims to modernise SBS Transit’s IT operations and enhance service quality through the Nutanix Cloud Platform (NCP).

The MOU outlines a comprehensive plan to leverage advanced cloud technologies to improve public transport services in Singapore. Nutanix will support SBS Transit in different key areas, including modernising IT infrastructure, enabling real-time data analytics for fleet management, and strengthening disaster recovery capabilities.

Ho Chye Soon, Singapore Country Manager at Nutanix, stated, “We are honoured to have the opportunity to partner with SBS Transit on this critical initiative to strengthen the digital infrastructure that powers the backbone of our Smart Nation.”

This partnership is expected to significantly improve the efficiency and reliability of SBS Transit’s operations, ultimately providing a better travel experience for passengers. As Singapore continues its journey towards becoming a Smart Nation, the collaboration between Nutanix and SBS Transit marks a pivotal step in integrating cutting-edge technology into public transport systems.