Industry News

Singapore’s workforce is facing a pressing need for upskilling as the nation intensifies efforts to prepare for an AI-driven future. Despite initiatives like SkillsFuture and the Graduate Industry Traineeships scheme, many professionals feel they are lagging behind. A recent study reveals that 54% of professionals worry about missing opportunities due to inadequate skills, whilst 70% believe lifelong learning is crucial for adapting to technological changes. Furthermore, 61% seek guidance on relevant skills, yet nearly half lack clarity on current demands.

In response, LinkedIn has introduced Career Hub, a personalised career development platform aimed at helping organisations connect skill-building with career advancement. The platform is designed to address the gap in career development, as only 43% of companies in Southeast Asia are considered “career development champions” with effective programmes linking skills to business outcomes. Despite 95% of companies recognising the importance of learning and rewards for retention, many struggle with time and resource constraints.

Career Hub aims to enhance retention by fostering internal mobility, which has shown to improve retention rates by up to 72% in the Asia-Pacific region. This initiative promises to strengthen workforce continuity and institutional knowledge. Early adopters like Tripadvisor and Netsmart have already seen positive results in reducing attrition and boosting internal mobility.

Skyline II Pte. Ltd. has announced its intention to acquire all issued shares of Spindex Industries Limited through a scheme of arrangement, as per the Companies Act of Singapore. The acquisition, detailed in an implementation agreement signed on 26 September, will see Skyline II offer S$1.43 per share to Spindex shareholders.

Spindex Industries, incorporated in Singapore in 1987 and listed on the Singapore Exchange since 2001, specialises in precision-machined components and assemblies. It operates in Singapore, Malaysia, China, and Vietnam, serving sectors such as imaging, printing, and automotive systems.

Skyline II, a special purpose vehicle created for this acquisition, is owned by Hong Wei Holdings and Skyline I Pte. Ltd. Hong Wei, an investment firm from the British Virgin Islands, already holds a significant stake in Spindex, owning approximately 74.95% of its shares. The acquisition aims to consolidate this ownership under Skyline II.

The scheme will require approval from Spindex shareholders and regulatory bodies. If a competing offer arises, Skyline II retains the right to switch to a direct offer, ensuring terms are equal to or better than the current proposal. The acquisition is expected to streamline operations and enhance value for stakeholders.

The Monetary Authority of Singapore (MAS) has announced the appointment of Abigail Ng as its new Chief Sustainability Officer (CSO), effective from 6 October 2025. Ng will succeed Gillian Tan, who has held the dual roles of Assistant Managing Director (Development & International) and CSO since October 2022. This transition marks a significant step in MAS’ sustainability journey, as the organisation seeks to further its commitment to sustainable finance.

Under Tan’s leadership, MAS’ Sustainability Group has made notable strides, including the launch of the Finance for Net Zero Action Plan, which aims to mobilise financing for Asia’s transition to a low-carbon economy. Other key initiatives include the Singapore-Asia Taxonomy, the Transition Credits Coalition (TRACTION), and the Financing Asia’s Transition Partnership (FAST-P), all designed to promote sustainable financing standards and accelerate energy transition in the region.

Ng, currently the Department Head of the Markets Policy & Consumer Department, brings extensive experience in sustainability issues. Her work has involved collaboration with international organisations and stakeholders to develop sustainability disclosure policies. This expertise is expected to bolster MAS’ efforts as it enters a more mature phase of its sustainability agenda.

Tan will continue to lead the Development & International Group as Group Head, ensuring continuity in MAS’ broader strategic initiatives. The appointment of a dedicated CSO reflects MAS’ commitment to advancing its sustainability objectives in a rapidly evolving financial landscape.

The Family Business Network International (FBN International) has reinforced its commitment to sustainability and impact investing in Asia by launching the Impact Partners’ Coalition. This initiative, announced at the FBN Impact International Forum 2025 held at Mandai Rainforest Resort in Singapore, aims to harness the collective power of family businesses to address global challenges through cohesive action.

Grace Fu, Singapore’s Minister for Sustainability and the Environment, highlighted the country’s role as a hub for sustainable finance, stating, “Family enterprises are uniquely placed to combine long-term vision with immediate action. Collaboration is critical if Asia is to achieve resilience and sustainability for generations to come.”

Family enterprises, which generate over 70% of global GDP, are increasingly shifting from wealth preservation to impact creation. In Singapore, family offices have grown nearly five-fold since 2020, reflecting a trend towards investing in climate ventures and inclusive growth.

The newly formed Impact Partners’ Coalition, comprising 14 entities from philanthropic, academic, and private sectors, aims to drive regenerative solutions and facilitate shared learning. Key organisations involved include Tsao Pao Chee, No. 17 Foundation, and the Family Business Network.

Rena Chai, Executive Director of FBN Asia, emphasised the need for collective action, stating, “Family businesses have knowledge, networks, and resilience built over generations. What’s missing is collective power and conviction.”

The forum concluded with a commitment to collaboration, with plans for a family business exchange in France in 2026 to further dialogue on critical issues such as energy transition and biodiversity.

Cushman & Wakefield has announced the sale by tender of a prime freehold residential redevelopment site on Dublin Road, District 9, Singapore, valued at $49.8m. This exclusive opportunity, comprising three adjoining plots, offers potential for a boutique residential project in one of the city’s most sought-after areas.

The site, currently hosting mid-1950s semi-detached houses, spans 1,850.5 sq m and is zoned “Residential” under the draft Master Plan 2025. With a plot ratio of 1.4, it allows for a maximum gross floor area of 2,590.7 sq m and a building height of up to five storeys. Notably, the site is exempt from the 85 sq m minimum dwelling size requirement, enabling the development of approximately 50 flat units, subject to approval.

Located off Killiney Road, the area combines low-rise homes with modern high-rise flats, offering a blend of charm and convenience. Future residents will benefit from the nearby $3b Comcentre redevelopment, which will include dining, healthcare services, and premium office spaces.

The site is within walking distance of Orchard Road’s shopping belt and Somerset MRT Station, with several reputable schools nearby. Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield, highlighted the site’s potential for upscale urban living and short-term accommodation, anticipating strong interest from investors and developers.

The tender closes on 29 October 2025.

GROW with Singlife, an integrated investment platform under the Singlife Group, has launched an upgraded platform in collaboration with InvestCloud, a global leader in wealth management technology. This development aims to enhance the adviser-client experience in Singapore by equipping financial advisers with advanced tools for personalised advice and streamlined servicing.

The enhanced platform represents a significant step in GROW’s strategy to scale wealth solutions. Jonathan Ong, Head of Technology at GROW, stated, “Our focus is to help our advisers deliver comprehensive and personalised insights to connect more deeply with their clients.” The platform allows advisers to offer tailored services at scale, whilst clients benefit from a more transparent and seamless experience.

Key features of the platform include seamless client onboarding, intuitive dashboards for client-centric insights, and multifund switch functionality for efficient portfolio adjustments. Clients can also enjoy expanded mutual fund trading options and personalised trading journeys, enhancing their control and confidence over their wealth management.

Jeff Yabuki, Chairman and CEO at InvestCloud, commented, “GROW with Singlife’s intuitive platform is helping advisers seamlessly manage investments whilst driving high-quality, differentiated financial outcomes for their clients.”

The platform’s transformation aims to optimise every aspect of the adviser-client journey, leveraging InvestCloud’s advanced technology to deliver curated portfolio solutions and exclusive investment products. This initiative underscores GROW’s commitment to providing a differentiated wealth planning journey for its clients.

iShopChangi has launched ‘Scroll Stoppers’, a new shopping experience designed to transform endless browsing into meaningful discovery. Available until 31 October 2025, this feature offers travellers and non-travellers alike the opportunity to explore handpicked, tax-absorbed, and duty-free deals across categories such as beauty, tech, and spirits. The initiative aims to streamline the shopping process by providing curated selections tailored to individual shopping needs, allowing users to save more without the hassle of endless scrolling.

The ‘Scroll Stoppers’ experience promises savings of up to 60% on popular brands like SK-II, Dyson, and Coach. Customers can take advantage of stackable promo codes, including discounts of 12% to 20% based on minimum spend thresholds. For instance, non-travellers and travellers can use codes like STOP12 for 12% off with a minimum spend of S$150, whilst travellers can enjoy 20% off with STOP20 for purchases over S$700.

In addition to significant savings, iShopChangi offers exclusive gift-wrapping services and On-Demand Delivery, ensuring orders arrive within two hours for a fee of S$10, or free for orders over S$200. The platform also introduces ‘Wonder Wednesdays’, featuring flash vouchers for midweek savings.

iShopChangi, launched in 2013, continues to enhance its offerings, providing access to over 30,000 products from 900 brands. The platform’s latest feature, ‘Scroll Stoppers’, is part of its ongoing effort to offer greater convenience and value to its users.

The Singapore Exchange (SGX) has announced the listing of the LionGlobal Short Duration Bond Fund (Active ETF SGD Class), the country’s first actively managed bond exchange-traded fund (ETF). This innovative financial product combines the flexibility of an ETF with the proven track record of an active fund manager, offering investors a new tool for portfolio diversification.

Managed by Lion Global Investors, the ETF is a share class of the LionGlobal Short Duration Bond Fund, originally launched in 1991. The fund aims to achieve total returns through capital growth and income by investing in a diversified portfolio of high-quality short-term bonds from both Singapore and global issuers. Available in both SGD and USD under the SGX codes SBO and SBV, the ETF caters to a broad range of investor needs.

Ng Yao Loong, Head of Equities at SGX Group, highlighted the significance of this listing, stating, “This listing reflects the growing investor demand for differentiated fixed income solutions and marks a new chapter in the evolution of our ETF market.” Chu Toh Chieh, Head of Fixed Income and Multi-Asset Solutions at Lion Global Investors, noted the fund’s success, revealing that the assets under management (AUM) have surpassed S$2 billion, with S$141.3 million raised during the Initial Offer Period.

The launch comes at a time of increasing interest in active ETFs globally, with such funds outnumbering passive ETFs in the US for the first time in June 2025. With this addition, SGX now hosts 50 ETFs, with combined AUM exceeding S$16b.

Singapore’s Central Business District (CBD) Grade A office rents have surged by 1.3% quarter-on-quarter, reaching S$11.83 per square foot in Q3 2025, according to JLL. This marks the most significant growth in six quarters, largely due to the inclusion of IOI Central Boulevard Towers in the rental basket. Despite this uptick, JLL anticipates that rental growth will remain modest for the remainder of the year, with a more pronounced increase expected in 2026 as supply tightens.

The addition of IOI Central Boulevard Towers was a key factor in the rental increase, although underlying growth remained below 1% for the sixth consecutive quarter. Dr Chua Yang Liang, Head of Research and Consultancy for JLL Southeast Asia, noted that the office market’s resilience is supported by strong economic fundamentals and a favourable interest rate environment. The demand for office space is bolstered by sectors such as artificial intelligence, fintech, and technology.

Andrew Tangye, Head of Office Leasing and Advisory for JLL Singapore, highlighted the diverse demand from sectors including AI, fintech, and professional services. Notable companies expanding in Singapore include Ripple, Jane Street, Zoom, and Odgers.

Whilst economic conditions have been better than expected, Dr Chua warns of potential challenges due to evolving trade conditions and geopolitical uncertainties. These factors could impact companies’ decisions to relocate to higher-quality office spaces.

Looking ahead, JLL expects office rents to accelerate in 2026, driven by a tightening supply pipeline and increased competition for premium spaces. Tangye observed genuine leasing activity at Keppel South Central and Shaw Tower, with large corporate occupiers showing interest in future projects. As vacancy rates tighten, rental rates may exceed some tenants’ budgets, intensifying competition for desirable locations.

A recent survey by T. Rowe Price, a global asset management firm, has revealed a significant shift in retirement preferences among Singaporeans, with 70% of respondents opting for retirement based on personal plans rather than a fixed statutory age. Conducted in July 2025, the survey polled 1,000 Singapore residents aged 18 and above, uncovering a strong inclination towards flexible retirement approaches.

The survey highlighted that 68% of working Singaporeans favour flexible retirement models, such as micro-retirement and unretirement. Micro-retirement, which involves taking short, intentional breaks between careers, is gaining popularity, with 72% of respondents supporting it. Key motivations include maintaining work-life balance, relieving work pressure, and pursuing personal interests. Unretirement, the concept of returning to work post-retirement, is also widely supported, with 74% citing staying mentally active as a primary motivation.

Despite the interest in flexible retirement, the survey found that many Singaporeans lack sufficient investment planning. Two-thirds of respondents are unfamiliar with available retirement products, and 30% of those preferring flexible retirement feel unprepared to achieve their ideal retirement. Thomas Poullaouec, Portfolio Manager at T. Rowe Price, emphasised the importance of financial education and investment strategies that balance growth and stability.

Glen Lee, Head of Asia ex Japan Intermediary Distribution at T. Rowe Price, noted that whilst Singaporeans are embracing flexible retirement models, many remain uncertain about achieving their goals due to challenges like longevity risk and market volatility. The firm aims to advance retirement education and provide solutions to empower Singaporeans in tailoring their retirement journeys.
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