Industry News

Swissquote Singapore, the Asia-Pacific hub of Switzerland’s leading digital bank, has successfully integrated the OpenWealth API at its Singapore booking centre. This development aims to enhance connectivity with External Asset Managers (EAMs), Multi-Family Offices (MFOs), and institutional clients across the region. The integration, facilitated by Synpulse, leverages OpenWealth standards to streamline wealth management services.

The OpenWealth API framework, developed in Switzerland, addresses industry challenges such as fragmented data exchanges and manual onboarding processes. It provides standardised APIs for custody services, client lifecycle management, and order placement, enabling secure and seamless integration between custodians and wealth management intermediaries. Rafael Weber, Head of Institutional Clients at Swissquote Singapore, stated, “Our clients value independence, flexibility, and efficiency, and that’s exactly what OpenWealth helps us deliver.”

Swissquote Singapore has rapidly grown into a trusted digital custodian for over 70 EAMs, MFOs, and funds in Singapore and Hong Kong SAR. Its platform offers trading access to over three million capital market products and supports various structures, including VCC funds and Private Placement Life Insurance policies. Operating under an execution-only model, Swissquote Singapore eliminates conflicts of interest, providing a robust independent private wealth management platform.

Yves Roesti, CEO of Synpulse Group, commented on the collaboration, saying, “This milestone demonstrates the power of collaboration in transforming wealth connectivity.” Since its launch in 2020, the OpenWealth Association has expanded to include over 60 members, including global private banks and fintechs. Swissquote’s adoption of OpenWealth sets a new standard for API-driven collaboration in Asia’s wealth management sector.

MetaOptics Ltd, a Singapore-based semiconductor optics company, has announced its intention to pursue a dual listing on the NASDAQ stock exchange in New York. This strategic move is designed to provide MetaOptics with access to a broader range of investors, including institutional and private investors in the US, thereby enhancing its ability to raise capital and explore strategic investments such as mergers and acquisitions.

The company believes that listing on NASDAQ will not only improve the trading liquidity of its securities but also bolster its metalens design and fabrication capabilities in the US. This proximity to potential key customers is expected to support the advancement of next-generation optical technologies across various sectors.

MetaOptics is currently in the process of appointing professional advisers, including a lead underwriter, legal adviser, and external auditor, to facilitate the listing process. However, the company cautions that the proposed listing is still in its preliminary stages and subject to due diligence, regulatory approvals, and market conditions.

MetaOptics, known for its pioneering glass-based metalens solutions enhanced by AI-driven image processing, is headquartered in Singapore. It leverages advanced optical design and a scalable 12-inch DUV lithography process to power applications in mobile, augmented reality, virtual reality, automotive, and other emerging markets. The company remains committed to keeping its shareholders informed as the listing process progresses.

Bloomberg’s inaugural Code Crunch Hackathon in Singapore concluded with students from Nanyang Technological University (NTU) and financial institutions like the Monetary Authority of Singapore (MAS) and AIA presenting AI-driven solutions to real-world financial challenges. Held on 29 October 2025, the event aimed to foster innovation and collaboration within the finance and quant community.

Participants utilised Bloomberg’s BQuant, a Python-based data science platform, to develop tools enhancing investment decision-making. The hackathon featured two groups: NTU students and industry professionals. Students focused on creating indicators for market behaviour, with Team CodeQuants winning for their Cross-Asset Divergence Indicator, which provides early warnings of systemic stress.

Industry teams tackled challenges using AI and machine learning. MAS’s PULSE dashboard, which analyses Bloomberg News articles for macroeconomic sentiment, won the Judges’ Pick. Robeco’s credit cross-currency solution earned the BQuant Mastermind award, whilst MAS and AIA received Most Popular Awards for their innovative tools. Singlife, Modular, and LGT Investment Management were recognised for their originality with Quantributor Awards.

Kelvin Cen, Head of Southeast Asia at Bloomberg, noted, “The finance industry is always looking for ways to harness AI and machine learning to make better, more informed investment decisions.” The hackathon underscores Bloomberg’s commitment to nurturing talent and advancing quantitative research through its BQuant platforms.

Willis, a WTW business, has announced the appointment of Anthony Wong as Head of Casualty in Asia, effective immediately. Based in Singapore, Wong will be part of the Property & Casualty business in Asia and will report to Paul Ward, Head of P&C Asia at Willis.

Wong transitions from his role in the Asia Large Account Practice, where he worked with key clients across the region. Ward commented on the appointment, stating, “Anthony’s speciality expertise and leadership in managing complex risk portfolios make him an outstanding addition to our team. His knowledge and experience will undoubtedly enhance our ability to deliver exceptional casualty solutions to our large and complex clients across Asia.”

With two decades of experience in insurance and risk management, Wong previously served as a risk manager for a leading Asian conglomerate. His extensive career includes work across retail, real estate, telecommunications, pharmaceuticals, and power and utilities sectors. Wong has held various positions with global insurance carriers, focusing on large and complex international casualty programmes.

Wong’s appointment is expected to strengthen Willis’s capability in delivering tailored casualty solutions to meet the diverse needs of its clients across Asia.

CBRE has announced the relaunch of the freehold Upper Serangoon Shopping Centre for sale by public tender, presenting a significant opportunity for developers. Situated at 756 Upper Serangoon Road, the site is strategically located near the Serangoon MRT station, offering a mixed-use development potential with both commercial and residential units.

The site, located in District 19, comprises two land plots with a combined area of 51,086 square feet. Under the 2019 Master Plan, one plot is designated for “Commercial and Residential” use with a gross plot ratio (GPR) of 3.0, whilst the other is zoned for “Residential” with a GPR of 2.8. The development has a verified gross floor area (GFA) of 176,792 square feet and allows for building heights up to 36 storeys.

Michael Tay, Singapore Advisory Deputy Managing Director and Head of Capital Markets at CBRE, highlighted the strong sales momentum for new residential launches in 2025, driven by lower interest rates and demand from HDB upgraders. Clemence Lee, Executive Director of Singapore Capital Markets at CBRE, noted the site’s appeal due to its affluent surroundings, proximity to amenities, and strong leasing demand.

The guide price for the site is set at $190m (S$260m), translating to $1,075 (S$1,471) per square foot on the existing GFA. The public tender will close on 3 December 2025 at 3:00 pm. This sale comes as the area is poised for transformation with the relocation of Paya Lebar Airbase, promising future capital appreciation.

Coliwoo Holdings Limited, a prominent co-living operator in Singapore, has announced the upcoming launch of Coliwoo Midtown in the first quarter of 2026. This development follows the company’s recent listing on the Singapore Exchange (SGX) Mainboard on 6 November 2025, marking a significant milestone for Coliwoo as it continues to expand its presence in the co-living sector.

Coliwoo Midtown is set to offer a range of amenities designed to meet the modern demand for convenience and community living. The property will feature private serviced suites that are fully furnished, providing comfort and flexibility for mid- to long-term stays. Additionally, the development will include two kitchens with a shared dining area, aimed at fostering social connections and offering a platform for local chefs to showcase culinary experiences.

The property will also boast a full-fledged gym with instructor-led training programmes and an ice bath facility, catering to fitness enthusiasts. A dedicated co-working zone will be available for remote workers, residents, and digital nomads seeking productivity in a central location.

Strategically located between Bugis, Bras Basah, and Rochor, Coliwoo Midtown enhances the company’s footprint in Singapore’s central business district and city-fringe areas. This launch complements Coliwoo’s existing properties in Keppel, Beach Road, and Orchard, providing a robust network of urban living options for residents prioritising accessibility and connectivity.

The debut of Coliwoo Midtown signifies the company’s commitment to growth and leadership in Singapore’s evolving co-living landscape, reinforcing its position as a standalone entity on the SGX Mainboard.

Grab and Singapore-based StraitsX have signed a memorandum of understanding (MOU) to explore the development of a Web3-enabled wallet and stablecoin-based settlement layer across Asia. This collaboration seeks to integrate digital asset wallets and stablecoin settlements into Grab’s ecosystem, facilitating compliant and efficient transactions across the region’s markets.

Southeast Asia’s payment landscape is known for its dynamism yet remains fragmented, with cross-border transactions often being slow and costly. The partnership between Grab and StraitsX aims to address these inefficiencies by proposing a unified integration layer. This includes embedding Web3-enabled wallets within Grab’s platform, allowing users to engage with digital money seamlessly.

The initiative will also equip GrabPay merchants with Web3-compatible wallets, enabling them to accept stablecoins from both local and international consumers. This move is expected to expand commercial reach without disrupting existing revenue flows. Additionally, the collaboration will introduce smart-contract settlement and programmable treasury tools to enhance liquidity and streamline operations across multiple Asian markets.

Tianwei Liu, Co-Founder and CEO of StraitsX, stated, “By uniting Grab’s scale with StraitsX’s established stablecoin infrastructure, we can deliver a financial network that is faster, cheaper, more inclusive, and regulatory-compliant.”

Looking forward, Grab and StraitsX plan to continue advancing their shared roadmap to promote adoption and interoperability across key Asian markets. This initiative is set to position Southeast Asia as a hub for regulated digital asset innovation and real-world payments, paving the way for the next era of global finance.

Millennium Hotels and Resorts (MHR) celebrated its 30th anniversary with a cocktail event at the Grand Copthorne Waterfront Hotel in Singapore, marking three decades of hospitality excellence. Since the opening of King’s Hotel in 1970, MHR has expanded into a global network of over 150 properties across Asia, Europe, the Middle East, and North America, maintaining its Singaporean roots of warmth and efficiency.

The celebration brought together distinguished guests, including MHR’s Executive Chairman, Kwek Leng Beng, and former Deputy Prime Minister Heng Swee Keat. Employees from around the world, including those in London, New York, New Zealand, and China, joined the event virtually, underscoring the brand’s international reach.

In his remarks, Kwek reflected on MHR’s journey: “When we first embarked on this journey, our vision was clear: to build a Singapore-born hospitality brand that could stand alongside the very best in the world. Thirty years on, that vision has become a proud reality.”

A commemorative video was unveiled during the event, showcasing MHR’s journey from its Singaporean roots to its current global presence. The video featured Kwek, who expressed aspirations for further global expansion, with Singapore’s flag flying in key cities worldwide.

This milestone not only celebrates MHR’s achievements but also sets the stage for future growth, as the company aims to continue its expansion whilst maintaining its commitment to hospitality excellence.

The National University Hospital (NUH) has unveiled its new Orthopaedic Surgery and Hand & Reconstructive Microsurgery Centres, designed to integrate key specialist services into a single cohesive space. This initiative, launched on 17 November, aims to provide a seamless patient journey by combining consultations, surgery, diagnostics, physical therapy, and pharmacy services.

The centres, located on Levels 18 and 19 of the Medical Centre, mark a significant milestone in NUH’s redevelopment plan. Dr Koh Poh Koon, Senior Minister of State for Health and Manpower, officiated the opening. The strategic relocation is intended to reduce patient walking distances by nearly half and facilitate closer collaboration between clinicians and allied health services.

The Orthopaedic Surgery Centre focuses on sports injuries and degenerative joint diseases, such as osteoarthritis, which affects 10% of the general population. It also serves as a platform for innovative treatments, including Singapore’s first stem cell treatment for cartilage repair. “Our population is staying active for longer, and that means more complex bone and joint needs across all ages,” said Professor James Hui, Head of the Department of Orthopaedic Surgery.

The Hand & Reconstructive Microsurgery Centre offers comprehensive care for trauma and diseases affecting the hand, wrist, and upper limb. It features a dedicated day surgery suite and serves as a regional referral centre for digital hand and major limb replantation. Dr Sandeep Jacob Sebastin Muttath, Head of the Department, highlighted the centre’s multidisciplinary approach, which includes neurology and rehabilitation medicine.

The Rehabilitation Centre complements these services by offering physiotherapy, occupational therapy, and more, all in one space. Associate Professor Isaac Sia, Head of the Department of Rehabilitation, emphasised the centre’s role in supporting both current patient care and the training of future allied health professionals.

These developments at NUH are set to enhance patient care and support the growing healthcare needs in Singapore’s Western region.

Loh Khum Yean has been appointed as the new chairman of the Maritime and Port Authority of Singapore (MPA) board, effective 1 December 2025. This announcement was made by the Acting Minister for Transport, Jeffrey Siow. Loh will take over the role from Niam Chiang Meng, marking a significant leadership transition for the MPA.

The appointment of Loh Khum Yean is expected to bring fresh perspectives to the MPA, which plays a crucial role in Singapore’s maritime sector. Loh’s leadership is anticipated to guide the authority through upcoming challenges and opportunities in the maritime industry. His experience and vision are seen as vital for continuing the development and sustainability of Singapore’s port operations.

Niam Chiang Meng, the outgoing chairman, has been instrumental in steering the MPA through various initiatives aimed at enhancing Singapore’s status as a leading global maritime hub. His tenure saw significant advancements in port infrastructure and maritime technology.

The transition in leadership comes at a time when the maritime industry is facing rapid changes, including technological advancements and environmental considerations. Loh’s appointment is expected to align with Singapore’s strategic goals in maintaining its competitive edge in the global maritime landscape.

As Loh Khum Yean steps into his new role, the MPA is poised to continue its trajectory of growth and innovation, ensuring that Singapore remains at the forefront of the maritime industry.