Industry News

Koh Brothers Eco Engineering Limited, a sustainable engineering solutions provider, has received approval in-principle from the Singapore Exchange Securities Trading Limited (SGX-ST) for its proposed transfer from the Catalist Board to the Mainboard. This strategic move, first announced on 27 May 2026, aims to better reflect the company’s market position and growth stage, whilst enhancing long-term shareholder value.

The transfer is expected to broaden Koh Brothers Eco’s investor base and improve trading liquidity. Chief Executive Officer Paul Shin stated, “Our proposed transfer to the Mainboard marks an important milestone in the Group’s growth journey and reflects the strength of our business, operational track record and long-term strategy.”

The company anticipates that the Mainboard listing will increase its visibility among investors, providing access to a larger and more diverse investor base. This could lead to improved market valuation and greater institutional investor participation. The move is also expected to offer the company more flexibility to pursue growth opportunities both locally and internationally.

As of 31 December 2025, Koh Brothers Eco reported a total order book of approximately S$1.1b, ensuring earnings visibility across its engineering, construction, bio-refinery, and renewable energy sectors. The proposed transfer is subject to regulatory and shareholder approvals, with a circular and notice for an extraordinary general meeting to be issued shortly.

OCBC has unveiled its latest innovation, OCBC WoW, a mobile app featuring AI-driven avatars, Wendy and Wayne, designed to transform customer engagement through hyper-personalised wealth management services. Available 24/7, the app aims to integrate seamlessly into customers’ lives by offering real-time insights and investment advice.

The app, described as the first AI-native bank mobile app in South-East Asia, is part of OCBC’s strategy to leverage AI, Digital, and Data (ADD) to enhance customer experiences. OCBC Group CEO Tan Teck Long stated, “We are changing the ‘face of banking’. Starting with wealth management, we are transforming how we engage customers with the use of avatars and hyper-personalisation on a real-time basis, 24/7.”

OCBC WoW offers several features to keep users engaged, including real-time news, market data, personalised insights, portfolio tracking, and investment ideas tailored to individual risk profiles. Initially, the app will be available to select employees and customers through an invitation-only beta phase, with a broader release planned later.

The app’s architecture is built on four layers, incorporating real-time data ingestion, AI guardrails, intelligence-building AI agents, and customer-facing output modules. This structure ensures secure, always-on wealth management capabilities.

Future enhancements will include additional languages, tailored insurance solutions, and exclusive deals. The rollout builds on OCBC’s previous investments in AI, including a Gen AI-powered training programme for wealth advisers, which has already shown significant improvements in customer engagement and revenue.

OCBC’s commitment to AI and digital innovation is evident in its ongoing efforts to refine and expand its services, promising more developments in the future.

Savills Property Management, a division of Savills Singapore, has bolstered its market leadership by securing seven new residential appointments in May and June 2026. This expansion brings the company’s total managed portfolio to around 73,000 units, including approximately 65,000 residential units, solidifying its position as Singapore’s largest managing agent by unit count.

The newly appointed developments include One Pearl Bank, Cape Royale, Côte d’Azur, and View at Kismis, which began in May, along with Treasures @ Tampines, Meyer Mansion, and Reflections at Keppel Bay, commencing on 1 June. These additions span a diverse range of residential areas across Singapore, from city-centre residences to waterfront and suburban communities.

Marcus Loo, CEO of Savills Singapore, remarked, “Surpassing this milestone reflects the trust that management councils and property owners have placed in Savills over the years. Our continued growth enables us to deepen our expertise, strengthen our service delivery, and better support the evolving needs of management councils, property owners, and residents across Singapore.”

Winnie Wong, Senior Managing Director of Property Management at Savills Singapore, added, “As Savills Property Management marks its 31st year in Singapore, we are pleased to be entrusted with the management of these developments and look forward to working closely with the respective management councils and residents.”

This strategic expansion not only reinforces Savills’ leadership in the property management sector but also highlights its commitment to delivering high-quality service and long-term value to its clients.

A recent survey by BioCatch highlights a worrying trend in Singapore’s banking sector, with 91% of fraud-management, anti-money laundering, and compliance leaders reporting an increase in fraud attempts. Additionally, 75% of respondents noted a rise in fraud losses, exceeding both the regional average of 67% and the global average of 60%.

Social engineering scams have emerged as the most prevalent threat, with over half of the surveyed leaders identifying it as a common attack. Compliance professionals particularly view social engineering as the top concern. BioCatch’s Global Advisory Director, Subhashish Bose, emphasised the importance of developing defences that can differentiate between genuine customers and those manipulated by criminals, leveraging behavioural, device, and network intelligence.

The survey also revealed that only 27% of Singaporean banks reimburse more than half of scam-related losses, significantly lower than the global average of 44%. This conservative approach is partly due to varying reimbursement regulations worldwide.

In terms of preparedness for the Monetary Authority of Singapore’s new requirements for FAST and PayNow, 95% of respondents believe their banks are mostly ready. However, only 14% of fraud professionals feel their organisations are fully prepared, highlighting a gap in implementing effective fraud risk strategies.

BioCatch, known for its behavioural biometrics solutions, commissioned the survey to better understand the challenges facing Singaporean banks. The findings underscore the urgent need for enhanced fraud prevention measures to protect both financial institutions and their customers.

The Monetary Authority of Singapore (MAS) has announced a series of enforcement actions taken in the second quarter of 2026, targeting breaches of financial regulations. These actions include fines, licence revocations, and imprisonment, underscoring MAS’s commitment to maintaining the integrity of Singapore’s financial sector.

In May, MAS reprimanded senior management at Havenport Investments Pte Ltd for failing to ensure compliance with regulations, resulting in a composition fine of $40,000. Additionally, two individuals, Tan Chun Yong and Xie Jianfeng, were convicted for trading-related offences under the Securities and Futures Act, receiving a 10-week imprisonment and a $200,000 fine, respectively.

MAS also revoked the Major Payment Institution Licence of Bsquared Technology Pte Ltd due to significant weaknesses in risk management and misleading information provided to MAS. This revocation took effect on 14 May.

Further, Padang Trust Singapore Pte. Ltd. faced a $300,000 penalty for breaches of Anti-Money Laundering and Countering the Financing of Terrorism requirements. Lastly, Dr Chua Han Boon Kenneth was fined $120,000 for insider trading involving shares of Singapore Medical Group Limited.

These actions highlight MAS’s rigorous enforcement approach to deter misconduct and protect Singapore’s reputation as a financial hub. For more details, refer to the Enforcement Actions page on MAS’s website.

Stephanie Duran has been appointed as the Acting CEO of the Asia Natural Gas and Energy Association (ANGEA), following the departure of Paul Everingham on 30 June. Duran, who joined ANGEA as Deputy CEO in March, expressed her enthusiasm for leading the organisation through its next developmental phases.

Duran highlighted ANGEA’s pivotal role in the regional energy ecosystem, stating, “ANGEA has become an important figure in the regional energy ecosystem, and I look forward to continuing to work closely with governments and industries across Asia and in supply countries.” She emphasised the significance of natural gas and liquefied natural gas (LNG) in ensuring energy security and aiding decarbonisation efforts in Asia. Additionally, ANGEA plans to advance carbon capture and storage (CCS) initiatives, contributing to policies that support cross-boundary CO2 value chains.

Ryosuke Tsugaru, ANGEA Chair and JERA’s Senior Managing Executive Officer, praised Duran’s regional insights and strategic approach, noting, “Stephanie has impressed the ANGEA membership greatly with her strong regional insights, strategic approach and enthusiasm.” He also acknowledged Everingham’s contributions and welcomed Duran’s leadership to further develop ANGEA’s capabilities.

Duran brings over 25 years of experience from the United States Department of Energy and has spent nearly a decade working in Asia. Based in Singapore, ANGEA collaborates with governments, industries, and communities to provide energy solutions that enhance security, economic growth, and decarbonisation across Asia.

Frasers Centrepoint Trust (FCT) has agreed to sell White Sands, a suburban retail mall in Singapore, for S$467m. The transaction, expected to complete by 30 September 2026, is part of FCT’s strategy to recycle capital and strengthen its financial position by reducing its aggregate leverage from 40% to 36.5%.

The sale price represents an 8.4% premium over the mall’s independent valuation of S$431m as of 31 May 2026. The net proceeds, estimated at S$454.1m, will primarily be used to repay debt, creating additional financial headroom for future investments.

Richard Ng, CEO of Frasers Centrepoint Asset Management Ltd., stated, “The divestment is part of our proactive portfolio management strategy to strengthen FCT’s portfolio resilience and unlock value for unitholders.”

White Sands, located in Pasir Ris and adjacent to key transport links, comprises five storeys and three basement levels, with a net lettable area of approximately 150,352 square feet. It houses 132 tenants, with major sectors including food and beverage, beauty and healthcare, and sundry services.

Post-divestment, FCT’s retail portfolio will consist of eight properties across Singapore, with a total net lettable area of about 2.84 million square feet. This move aligns with FCT’s long-term growth strategy, focusing on optimising its portfolio to deliver sustainable income and value to its unitholders.

Hatten Land Limited has announced its plans to resume trading on the SGX Catalist through a reverse takeover (RTO) of Metrocon Pte. Ltd., a geotechnical foundation engineering specialist, for S$28m. The acquisition, which is part of Hatten Land’s restructuring strategy, will be fully satisfied by issuing 107,705,689 shares at S$0.26 each to LBD Engineering Pte. Ltd., Metrocon’s vendor.

The proposed acquisition is set to be approved at an Extraordinary General Meeting on 22 July 2026. Upon completion, Hatten Land will be renamed Metrocon Holdings Limited, shifting its business focus entirely to geotechnical foundation engineering services. This move is expected to leverage Singapore’s robust construction and infrastructure pipeline.

Metrocon, established in 2016, is a BCA-registered Grade L5 contractor specialising in subsurface construction works. The company has a strong track record in handling technically demanding projects, including those within MRT and LRT zones. Metrocon’s founder, Alvin Lim, expressed confidence in the acquisition, stating it will provide the governance framework and capital market access needed for growth.

The transaction will also involve a compliance placement of up to 25 million new shares at no less than S$0.20 each to meet public float requirements. The enlarged group is valued at S$40m, with the vendor holding approximately 60.2% of the shares post-acquisition.

Metrocon plans to upgrade its contractor registration, expand its equipment fleet, and pursue strategic alliances to capitalise on Singapore’s ongoing construction boom.

Bitdefender’s 2026 Cybersecurity Assessment Report has unveiled that only 48% of Singaporean organisations have full visibility into the AI tools and chatbots their employees use at work. The report, based on a survey of over 1,200 IT and security professionals across six countries, highlights significant concerns about AI-driven threats and data sovereignty.

The report indicates that 50% of Singapore firms track official enterprise tools but remain unaware of personal accounts and Shadow AI used by employees. This lack of visibility poses a risk as AI tools become more integrated into workplace operations. Furthermore, 53% of Singapore respondents who experienced a security breach were instructed to keep it confidential, despite believing it should be reported. This figure, although slightly lower than the 57.6% reported in 2025, underscores a persistent culture of breach suppression.

Data sovereignty has emerged as a critical factor in vendor selection, with 76.5% of Singaporean respondents willing to switch vendors over concerns about data jurisdiction. This aligns with a global trend where data location and access are becoming decisive criteria for cybersecurity solutions.

The report also highlights that 76.6% of Singapore firms are hesitant to disable legitimate tools exploited by attackers due to fears of operational disruption. This reflects a broader struggle to balance security measures with business continuity.

Andrei Florescu, president and general manager of Bitdefender Business Solutions Group, emphasised the need for modern security strategies to “go beyond reactive defences” to effectively manage AI adoption and compliance.

As AI-powered threats continue to evolve, organisations are urged to enhance their visibility and governance of AI tools to mitigate risks and ensure robust cybersecurity practices.

All-Link Air & Sea Limited has lodged its preliminary prospectus with the Monetary Authority of Singapore, marking a significant step towards its proposed initial public offering (IPO) on the Mainboard of the Singapore Exchange. The company, a freight forwarder originating from ASEAN, has appointed CGS International Securities Singapore Pte. Ltd. as the issue manager, underwriter, and placement agent for the offering.

The final prospectus will be available upon the offering’s launch, detailing the application process for potential investors. Interested parties can access the prospectus via the MAS website or request a copy from CGS International Securities during office hours.

All-Link’s financial trajectory has been notable, with revenue skyrocketing from US$4.8m in FY2023 to US$71.5m in FY2024, largely due to its partnership with TikTok as a logistics partner for US-bound cargo. By FY2025, the company diversified its client base, reducing reliance on TikTok from 98% to 45.4% and securing a global technology company as a new anchor client, contributing 33.6% of its revenue.

The company is poised for further growth, with net working capital increasing from US$2.9m to US$16m between FY2023 and FY2025. Its expansion strategy focuses on Vietnam and Thailand, leveraging its expertise in the logistics “coordination layer” across the ASEAN–China–US trade corridor.

Led by experienced logistics professionals, All-Link aims to strengthen its market position and financial stability through this IPO. The move is expected to bolster its ASEAN expansion plans and enhance its service offerings in the logistics sector.