Industry News

Network instability is significantly impacting Singaporean businesses, with 60% reporting revenue losses of US$5m or more due to network outages or poor performance, according to an IDC InfoBrief commissioned by Expereo. The report, “Enterprise Horizons 2025: Technology Leaders Priorities: Achieving Digital Agility,” reveals that cybersecurity has become the top priority for financial investment over the next year, with 62% of businesses planning to focus on it, followed by networking/connectivity at 48% and artificial intelligence (AI) at 40%.

Following a series of high-profile IT disruptions, 46% of Singaporean businesses have been forced to re-evaluate their technology infrastructure. This shift has led to networking and connectivity becoming more prominent on the C-suite agenda, with 34% of tech leaders acknowledging its increased importance. The urgency is underscored by the fact that 32% of organisations report inadequate network performance as a threat to their growth plans, whilst 44% say network limitations hinder their ability to support large-scale data and AI initiatives.

Ben Elms, CEO of Expereo, emphasised the strategic importance of connectivity, stating, “Connectivity is now the backbone of business. As organisations race to adopt new AI solutions, the C-suite must treat network performance with the same urgency as cybersecurity and AI itself.”

Eric Wong, President, APAC, at Expereo, noted the direct correlation between network performance and financial success, highlighting that nearly a third of businesses in Singapore have experienced revenue losses exceeding US$5m due to network outages. The report also indicates a skills gap, with 51% of organisations struggling to find or retain skilled networking professionals. Consequently, 26% of businesses plan to rely more on external partners to bridge this gap.

ION Orchard is revving up for the Singapore Grand Prix by transforming into a race-inspired playground, “Live the Race,” featuring collaborations with renowned brands such as TAG Heuer, Lego, Visa, TUDOR, HUGO, and Elemis. From now until 12 October 2025, visitors can enjoy a series of immersive experiences that blend motorsport excitement with luxury shopping.

The mall’s transformation includes several key attractions. TAG Heuer, the Official Timekeeper of Formula 1, will host a pop-up at the L1 Atrium from 25 September to 6 October, featuring an appearance by Oracle Red Bull Racing Team’s Yuki Tsunoda on 2 October. Visitors can explore TAG Heuer’s motorsport history and view the Oracle Red Bull Racing F1 Team Show Car.

Lego’s pop-up at ION2 offers interactive F1 challenges, including Pedal Power VR Racing and a life-sized Formula 1 Williams FW16 Race Car built from over 400,000 Lego bricks. Meanwhile, the “Inside the Garage” experience, presented by Visa, TUDOR, and HUGO, allows fans to engage with authentic race gear and participate in interactive challenges.

Beauty enthusiasts can visit the Elemis pop-up, which features exclusive skincare samples and a chance to win a year’s supply of products. Shoppers can also unlock an exclusive Lifestyle Pack by engaging with race-themed activities at the mall.

ION Orchard’s CEO, Yeo Mui Hong, expressed excitement about the collaboration, stating, “We are creating an immersive experience that transforms Singapore’s premier shopping destination into the ultimate motorsport playground.” This initiative showcases how Singapore’s retail landscape is innovatively integrating F1 partnerships beyond traditional sponsorships.

The Restaurant Association of Singapore (RAS) has announced the winners of the Excellent Service Award (EXSA) 2025, celebrating the exceptional contributions of service professionals in the food and beverage (F&B) sector. Held at Nanyang Polytechnic’s Auditorium, the event was attended by industry leaders, education partners, and key players.

This year, EXSA received nominations from 75 companies, representing over 200 brands and concepts. A total of 2,653 recipients were honoured across four categories: EXSA Star, Gold, Silver, and the prestigious Superstar Award. Pheng You Yen Evan, Assistant Manager at Seoul Garden, was awarded the EXSA Superstar title, distinguishing himself among 2,900 nominees.

A new initiative, The F&B People Collective, was launched to address workforce sustainability by focusing on training, retention, and employee wellbeing. This coalition aims to ensure that F&B employees have clear career growth pathways.

The event also showcased collaboration between the industry and education, with Nanyang Polytechnic students co-producing the ceremony. This partnership aims to nurture the next generation of service champions, reinforcing the importance of practical experience in education.

EXSA, now in its 31st year, continues to recognise individuals who deliver outstanding service, maintaining high standards in Singapore’s vibrant dining scene.

The Financial Industry Disputes Resolution Centre Ltd (FIDReC) has reported a significant shift in the nature of financial disputes in Singapore, with scams and fraud now overtaking insurance payouts and investment issues as the leading cause of consumer complaints. Since 2021, the number of claims related to scams, including phishing and impersonation, has risen sharply, increasing by nearly 200% by 2025.

This surge in scam-related disputes marks a departure from the period between 2005 and 2020, when insurance and investment disagreements dominated. FIDReC attributes this change to the growing prevalence of digital banking and online transactions, which have made consumers more vulnerable to sophisticated scams. The current volume of claims has reached levels not seen since the global financial crisis of 2008, and FIDReC anticipates this trend will continue.

Eunice Chua, CEO of FIDReC, highlighted the evolving landscape of financial disputes, stating, “As FIDReC marks its 20th anniversary this year, we are reminded of how the nature of financial disputes has changed with time.” She emphasised FIDReC’s commitment to raising awareness and maintaining public trust in the organisation.

Common scams include compromised credentials through phishing and impersonation scams, where fraudsters pose as banks or government agencies. Challenges in addressing these issues include limited recovery mechanisms and the need for consumers to be vigilant in monitoring alerts and protecting their credentials.

As part of its anniversary, FIDReC will release a commemorative book on 10 October 2025, celebrating its role in resolving financial disputes in Singapore. The organisation remains dedicated to helping consumers and financial institutions navigate these challenges effectively.

CBRE has announced the sale of a portfolio comprising freehold properties located in Singapore’s city-fringe and suburban areas. The properties, situated at 155 Kitchener Road, 329 Changi Road, and 362 Tanjong Katong Road, are available through an Expression of Interest exercise closing on 5 November 2025.

The properties are strategically positioned in dynamic districts such as Kallang, Marine Parade, and Bedok, benefiting from densely populated areas and access to key amenities and transport infrastructure. Each asset boasts a prestigious freehold tenure, with features like prime corner frontages and permanent “Restaurant” use approvals. Currently tenanted by a diverse mix of occupiers, the properties offer stable rental income to potential investors.

The portfolio’s indicative guide price is $57m (S$78m), with options to purchase collectively or individually. The properties include a pair of conservation shophouses, a mixed-use building, and strata retail units, with prices ranging from $8.4m (S$11.5m) to $21m (S$29m) per asset.

Clemence Lee, Executive Director of Capital Markets at CBRE, highlighted the investment potential, stating, “This portfolio presents a compelling opportunity for investors to acquire prime freehold assets in sought-after locations.” He noted the strong investor interest in well-located freehold assets with repositioning potential, offering opportunities for tenant mix refreshment and strategic refurbishments to enhance rental performance and capital appreciation.

PURE Singapore is celebrating its 20th anniversary by launching a new brand film, “Switch Things Up”, and announcing significant investments in its wellness services and facilities. The film, created in collaboration with Havas Play, highlights fitness as a personal journey, aligning with PURE’s commitment to evolving with its members’ needs.

The brand’s Managing Director, Ron Hanerfeld, emphasised that PURE is about more than just fitness and yoga, stating, “For me, it’s about creating a space where people can switch things up, recover, and discover what’s possible.” This vision is set to be realised with new recovery facilities, upgraded equipment, and enhanced experiences at key locations like PURE Yoga Ngee Ann City and PURE Fitness Asia Square, starting from Q1 2026.

PURE’s expansion is supported by new funding from a strategic investment partner, enabling the brand to offer a more holistic approach to health and wellbeing. Members can expect refurbished spaces, including upgraded changing rooms and refreshed communal areas, ensuring an inspiring and comfortable visit.

Since its inception in Singapore in 2005, PURE has grown into a trusted name in holistic wellness. The brand’s latest initiatives underscore its confidence in Singapore’s potential as a fitness and wellness hub, as it continues to innovate and prioritise personal wellness and community engagement.

AIA Singapore and NHG Health have signed a Memorandum of Understanding (MoU) to collaborate on initiatives aimed at strengthening Singapore’s healthcare system. Announced on 24 September at Khoo Teck Puat Hospital, the partnership focuses on developing innovative healthcare solutions, delivering Value-Based Care (VBC), and improving population health.

The collaboration, signed by AIA Singapore CEO Wong Sze Keed and NHG Health CEO Joe Sim, seeks to ensure long-term sustainability and affordability of healthcare for Singapore residents. “Our partnership with NHG Health marks another significant step in our unwavering commitment to the health and well-being of Singapore residents,” said Wong. She emphasised the potential for co-creating solutions that enhance care quality and affordability.

Sim highlighted the importance of aligning financing with healthier behaviours, stating, “This collaboration will enable us to align financing with healthier behaviours, drive prevention and early intervention so that both individuals and our health ecosystem benefit from cost efficiencies and better quality of life.”

This initiative builds on AIA Singapore’s ongoing efforts to innovate and expand its health and wellness offerings. In 2024, AIA introduced teleconsultations, mental wellness services, and enhanced corporate insurance policies, benefiting over 1.3 million employees in Singapore.

The partnership is expected to play a crucial role in addressing the health challenges facing the community, reinforcing both organisations’ commitment to empowering individuals to live healthier, longer, and better lives.

Singapore’s Housing Development Board (HDB) has revealed its masterplan for Berlayar estate, a new residential area at the former Keppel Club site, marking the beginning of the Greater Southern Waterfront’s transformation. Announced by the Minister for National Development, Chee Hong Tat, on 23 September 2025, the estate will provide approximately 10,000 homes, including 7,000 public housing units and 3,000 private units. This development aims to meet the diverse housing needs of Singaporeans, particularly young families seeking proximity to their parents.

The first Build-To-Order (BTO) project, Berlayar Residences, will launch in October 2025, offering 870 flats in various sizes and 200 public rental units. The estate’s design draws inspiration from its maritime heritage, with a terracing skyline and a white and blue colour palette to reflect its waterfront setting. Motifs of local fauna will feature in community spaces, enhancing the estate’s unique identity.

Berlayar estate will dedicate 20% of its 48-hectare area to green spaces, including four green corridors to support ecological connectivity. These corridors, designed with input from nature groups, will enhance biodiversity and provide recreational areas for residents. The estate will also offer a range of amenities, including preschools, supermarkets, and clinics, alongside well-connected walking and cycling paths.

Sustainability is a key focus, with smart lighting systems and eco-friendly design features to manage stormwater and reduce urban heat. The public can learn more about the development at the Berlayar exhibition at HDB Hub from 24 September 2025.

The Ascott Limited, a wholly owned lodging business unit of CapitaLand Investment, has announced that its Citadines brand has surpassed 200 properties globally. This milestone is attributed to the brand’s asset-light growth strategy, which includes management and franchise agreements. Currently, Citadines comprises 205 properties with approximately 35,000 units, of which over 60% are operational.

Since a brand refresh three years ago, Ascott has signed over 50 Citadines properties, adding about 8,000 units. This expansion has introduced the brand to 18 new cities, including Liverpool in the UK, Hobart in Australia, and Phu Quoc in Vietnam. The brand’s conversion model has been pivotal, accounting for 61% of Ascott’s unit openings in the first seven months of 2025. Notable conversions include Citadines Antasari Jakarta, which opened within three weeks, and Citadines City Centre Liverpool, completed in three months.

Franchise growth is also gaining traction, with 15 franchised properties across the portfolio. In China, four out of five recent signings have been franchise agreements, highlighting the model’s efficiency. Citadines Universiade Centre Longgang Shenzhen is set to open in November 2025, just eight months after signing.

The upper-midscale hospitality segment, where Citadines operates, is experiencing favourable trends. The segment is projected to grow at a 6.8% compound annual growth rate through 2033. Serena Lim, Chief Growth Officer at Ascott, noted the brand’s versatility and operational efficiency as key factors in its expansion. As Citadines continues to grow, it aims to deepen guest engagement and offer experiences that blend work, leisure, and discovery.

HSBC has announced the establishment of its Quantum Centre of Excellence (CoE) in Singapore, marking the bank’s second global quantum hub after the UK. The Singapore CoE will focus on the practical application of quantum technologies in financial services, prioritising areas such as post-quantum cryptography, quantum key distribution, and infrastructure resilience. This initiative aims to bolster Singapore’s position as a global hub for financial innovation.

Located in Singapore’s vibrant fintech ecosystem, the CoE will engage with regulators, researchers, and industry peers to advance quantum-safe solutions. HSBC is already participating in initiatives like the industry-wide quantum key distribution sandbox, in collaboration with the Monetary Authority of Singapore, DBS, OCBC, UOB, SPTel, and SpeQtral. Philip Intallura, HSBC’s Global Head of Quantum Technologies, stated, “The establishment of our Quantum Centre of Excellence in Singapore allows us to work closely with partners and regulators to explore how these innovations can strengthen long-term security, resilience, and in time, open new possibilities for financial services.”

The centre will focus on applied research into quantum computing and defence solutions, cross-industry collaboration to test interoperability, and strategic experimentation for infrastructure readiness. Additionally, it will foster talent development through partnerships with academic and public institutions. Singapore’s strong regulatory framework and collaborative financial ecosystem make it an ideal location for HSBC’s quantum initiatives.

The establishment of the Quantum CoE in Singapore underscores HSBC’s commitment to advancing quantum technologies and preparing the financial sector for future challenges and opportunities.