Industry News

Brookland Group & Partners, an investment firm based in Dubai and Singapore, has committed $5m to Miza Corporation, a Vietnamese manufacturer of recycled packaging paper. This investment follows Vietnam’s recent reclassification to secondary emerging market status by FTSE Russell, effective 21 September 2026, signalling a shift in international investment interest beyond traditional bank and property sectors.

The investment marks the first tranche of a structured equity arrangement, with Brookland acquiring shares from an existing Miza shareholder. John Hall, Managing Partner of Brookland Group, stated, “Vietnam’s manufacturing base is where international institutional capital should be paying attention, and Miza is a clear example of why.”

Miza Corporation, listed on the Ho Chi Minh Stock Exchange, is expanding its production capabilities, including the addition of a new PM5 paper machine. The company reported a 63% increase in net profit after tax in 2025, reaching $4.5m, with a revenue of $185m. The first half of 2026 saw a 74.9% rise in net profit after tax to $3.2m.

Tuan-Minh Nguyen, Chairman of Miza, expressed confidence in the partnership, stating, “We see Brookland’s investment as a vote of confidence in our strategy, our team, and our circular economy model.”

With the FTSE Russell upgrade and Brookland’s investment, Miza aims to strengthen its financial base and support further growth, setting the stage for a new growth cycle from 2027.

Singapore’s Energy Market Authority (EMA) and Sweden’s Ministry of Climate and Enterprise have reaffirmed their commitment to deepening energy cooperation during President Tharman Shanmugaratnam’s state visit to Sweden on 19–20 October 2026. This collaboration builds on the Singapore–Sweden Memorandum of Understanding (MOU) on Energy Cooperation signed in November 2024.

The partnership seeks to leverage Swedish expertise in energy innovation alongside Singapore’s status as a leading energy hub. Both nations will explore emerging energy technologies, including hydrogen and ammonia, and focus on regional energy interconnectivity and High Voltage Direct Current (HVDC) technologies. Business Sweden is facilitating dialogue among government agencies, companies, and stakeholders to support this initiative.

During the state visit, a high-level energy session was held, concentrating on future energy systems and collaboration opportunities. Additionally, Business Sweden will organise “Spotlight: Sweden” at the 19th Singapore International Energy Week on 29 October 2026, aiming to strengthen bilateral energy partnerships.

Puah Kok Keong, Chief Executive of EMA, stated, “EMA welcomes the deepening of energy cooperation with Sweden Ministry of Climate and Enterprise, underpinned by our shared commitment to innovation and the energy transition.” Ebba Busch, Sweden’s Minister for Energy, Business and Industry, added, “By combining Swedish strengths in energy innovation with Singapore’s ambitious energy agenda, we are creating new opportunities for knowledge exchange, investment, and long-term cooperation.”

This enhanced cooperation is expected to support a secure, resilient, and sustainable energy future for both countries.

CBRE has announced the sale of a freehold conservation shophouse located at 171 Telok Ayer Street, Singapore. The property, a three-storey building with a mezzanine, is situated in the heart of Chinatown and is being marketed through an Expression of Interest exercise, closing on 25 November 2026.

The shophouse is positioned within the Telok Ayer Conservation Area, a bustling enclave in District 1 known for its vibrant F&B and lifestyle offerings. It boasts a prominent frontage along Telok Ayer Street and is surrounded by major office developments such as Frasers Tower and Guoco Tower. The property spans approximately 1,390 sq ft of land, with an estimated total floor area of 4,168 sq ft.

Currently fully occupied, the ground floor houses an established F&B operator, whilst the upper floors are leased to office tenants. The property benefits from a permanent restaurant approval, enhancing its appeal to investors seeking strong rental income. The indicative guide price is S$23.76m, translating to about S$5,700 per square foot.

Clemence Lee, Executive Director of Capital Markets at CBRE, highlighted the scarcity and prestige of freehold conservation shophouses in the area, noting their appeal to corporate investors, family offices, and high-net-worth individuals. Lee stated, “As CBD rejuvenation gathers pace, occupier demand for well-located shophouse space is expected to strengthen.”

The property is well-connected, with proximity to four MRT stations and major expressways, offering seamless access across Singapore. As the CBD evolves into a live-work-play destination, the shophouse is poised to benefit from increased demand and potential capital appreciation.

The latest data from 99-SRX reveals a continued decline in rental volumes for both condominiums and Housing Development Board (HDB) flats in September 2026. This marks the second month of decreased activity following a busy July. Despite the drop, overall rental prices remain higher than last year, with condo rents edging down by just 0.1% and HDB rents by 0.6% compared to August.

Condo rental volumes saw an 18.6% month-on-month decrease, with 6,774 units rented in September. However, this figure is still 5% higher year-on-year and 6.9% above the five-year September average. The Core Central Region (CCR) experienced a slight increase in rental prices by 0.6%, whilst the Rest of Central Region (RCR) and Outside Central Region (OCR) saw decreases of 0.3% and 0.8%, respectively.

HDB rentals also softened, with volumes dropping by 15.4% month-on-month to 2,379 flats. Year-on-year, this represents a 9.3% decrease and is 7.1% lower than the five-year average. The largest share of HDB rentals was for 4-room flats, accounting for 37.7% of the total volume.

Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that the moderation aligns with expectations of stable rents and modest growth. He added that employment-related demand should continue to support leasing, whilst additional housing supply may limit significant rent increases.

Looking ahead, the rental market is expected to remain stable, with potential fluctuations as the year-end holiday period approaches.

Wealthy entrepreneurs in Singapore are actively integrating artificial intelligence (AI) into their business operations, according to HSBC Private Bank’s Global Entrepreneurial Wealth Report 2026. The report highlights that 65% of Singapore’s high-net-worth entrepreneurs have already adjusted their operations for AI, surpassing the global average of 60%. This shift comes as the Infocomm Media Development Authority (IMDA) reports a rise in AI adoption among Singapore enterprises from 14.7% in 2024 to 23.5% in 2025.

Singaporean entrepreneurs are optimistic about AI’s potential benefits. Over half (56%) expect AI integration to increase employee headcount in the next two years, compared to 44% globally. Additionally, 49% believe AI will enhance profit margins, a sentiment shared by only 39% of their global counterparts. Investment in AI is also on the rise, with 61% of Singapore entrepreneurs planning to allocate between 11% and 30% of their annual turnover to AI technologies in the coming year.

Despite the enthusiasm, challenges remain. Nearly half (49%) of Singaporean entrepreneurs express concerns about employee resistance to AI due to job loss fears, a higher percentage than the global average of 34%. Cost and data privacy issues are also significant concerns for 45% and 36% of local entrepreneurs, respectively.

Tommy Leung, Head of Private Bank, South Asia, HSBC, noted, “Singapore entrepreneurs are moving AI from discussion into execution. What stands out is the breadth of the opportunity they see, from improving margins and productivity to supporting future growth, whilst remaining clear-eyed about the challenges around employee adoption, implementation costs and data security.”

As AI continues to shape business landscapes, Singapore entrepreneurs remain confident, with 91% maintaining a positive outlook on their business prospects, partly due to advancements in AI.

Singapore is enhancing its educational pathways to tech careers with the launch of TIP Alliance Bridge2Tech, announced by the Infocomm Media Development Authority (IMDA). This initiative will provide 3,000 year-long internships over three years for Information and Digital Technologies (IDT) students from Institutes of Technical Education, Polytechnics, and Autonomous Universities. The move comes as artificial intelligence (AI) reshapes entry-level work, requiring graduates to have a blend of technical skills and practical experience.

The initiative addresses the growing demand for tech professionals, which increased by 3.8% in 2025, with over 220,000 professionals employed, according to the Singapore Digital Economy Report 2026. Despite this growth, fresh graduates often struggle to secure their first roles. Bridge2Tech aims to align educational outcomes with employer needs, ensuring students are equipped with industry-relevant skills.

Students will have better access to industry-recognised courses in AI, Cloud, and Cybersecurity through the Singapore Computer Society’s Skills Pathways. These courses, supported by IMDA funding of up to 90%, will complement academic learning and enhance job readiness. Additionally, the Government Tech Domain Pathway, opening for applications in November 2026, will prepare students for careers in public sector technology roles.

The TIP Alliance also focuses on meaningful internships, co-designed by educational institutes and employers, to provide real-world experience. This approach is part of a broader effort to adapt to AI’s impact on traditional entry-level tasks, ensuring students gain the necessary expertise before graduation. These initiatives collectively aim to facilitate a smoother transition for students into evolving tech careers.

The National Heart Centre Singapore (NHCS) has unveiled the Centre for Integrative Human Cell Research and Translation (CIPHER), the country’s first facility focused on cardiovascular research using heart cells derived from Asian patients’ blood samples. Announced at the 6th NHCS Heart to Heart Gala on 16 October 2026, the centre aims to tailor heart disease treatments to better reflect the biology of patients in the region. Additionally, the Tong Ming Chuan Professorship in Cardiothoracic Surgery was established to foster leadership in the field.

CIPHER addresses a critical gap in heart disease research, which has traditionally relied on Western models. By using heart cells grown from Asian patients, researchers can gain insights into disease mechanisms and test potential treatments more effectively. Assistant Professor Chrishan Ramachandra highlighted the centre’s unique approach: “When we grow a heart muscle cell from a patient’s own blood and watch it beat in a dish, carrying that patient’s disease, we are looking at something no animal model can replicate.”

The Tong Ming Chuan Professorship, funded by a S$2.5m donation from Dr Tong Ming Chuan, aims to advance cardiothoracic surgical care and research. Dr Tong, who led Singapore’s first heart transplant in 1990, hopes to nurture future surgical leaders.

These initiatives are part of NHCS’s commitment to improving cardiovascular care in Singapore and the region. As Professor Yeo Khung Keong, CEO of NHCS, stated, “CIPHER ensures that the science we build is grounded in the biology of our patients and strengthens Singapore’s position as a biomedical hub.”

Despite ongoing net institutional outflows, more than 50 stocks on the Singapore Exchange (SGX) recorded positive institutional inflows over the past three weeks ending 16 October. These stocks span various sectors, including industrials, technology, and healthcare, indicating diverse institutional interest.

Sembcorp Industries topped the list with a cumulative inflow of S$43.9m followed by Singapore Telecommunications (Singtel) with S$37.7m and DFI Retail Group with S$22.7m. Other notable stocks include Hutchison Port Holdings Trust, Genting Singapore, and StarHub, collectively contributing to approximately S$123m in inflows.

The report highlights that nearly three-quarters of these stocks reported higher return on equity (ROE) compared to the first half of 2025, with many trading at higher book-value multiples. This suggests institutional investors are favouring stocks with improved operating returns and market recognition.

Sembcorp Industries’ inflows were bolstered by its acquisition of Alinta and expectations of increased net profit in the second half of 2026. Singtel’s inflows were driven by its strategic plans to enhance AI-enabled operations and expand digital infrastructure. Meanwhile, DFI Retail Group’s inflows were supported by its proposed reorganisation of interests in Maxim’s and the Starbucks licensed business, expected to boost revenue and operating margins.

These developments underscore the varied strategies companies are employing to attract institutional investment, focusing on growth, transformation, and capital efficiency. As these stocks continue to draw institutional interest, they may influence broader market trends in the coming months.

Maybank has announced a five-year strategic partnership with ServiceNow to enhance its Resilience Operations Centre in Malaysia, Singapore, and Indonesia. This collaboration seeks to integrate operational data, AI, and analytics through ServiceNow’s AI Platform, providing Maybank with a comprehensive view of its applications and infrastructure. The initiative aims to identify emerging risks and anticipate potential service disruptions, ensuring secure and reliable banking services.

The rollout will commence in Malaysia and Singapore, with plans to expand to Indonesia. Supported by ServiceNow University, Maybank will establish a Centre of Excellence to enhance workforce skills in platform engineering, automation, and AI. This will be complemented by participation in ServiceNow’s NowNext AI programme, which will explore advanced AI use cases for banking operations.

Giorgio Migliarina, Group Chief Technology and Digital Officer at Maybank, stated, “As banking becomes more digital and interconnected across the region, our customers expect us to be available, secure and dependable at every moment. Technology resilience and operational excellence are therefore fundamental to how we serve them.”

Melissa Ries, Group Vice President and Managing Director for Asia at ServiceNow, added, “Resilience is the foundation of customer trust for Financial Institutions. Working with Maybank reflects what we hear from financial services leaders across the region.”

This initiative is part of Maybank’s ongoing transformation under its ROAR30 strategy, aiming to maintain strong governance, security, and resilience standards whilst meeting evolving regulatory expectations. The partnership is expected to significantly contribute to delivering seamless and always-on banking experiences across the region.

Skylink Holdings Limited, a major player in Singapore’s commercial vehicle leasing sector, has successfully issued S$5m in hire purchase bonds, which were fully subscribed. The bonds, offering an 8% annual coupon rate, are intended to bolster the company’s Credit Business, which provides financing solutions for commercial vehicles.

The company has seen significant growth in its loan book, expanding from S$24.16m in FY2023 to S$66.24m in FY2026, marking a compound annual growth rate (CAGR) of 40%. The proceeds from the bond issuance are expected to support an additional S$30m in loan book growth, with a target to exceed S$100m by FY2028.

Skylink Holdings has maintained a non-performing loan ratio below 0.5% and a delinquency ratio under 2% in FY2026, showcasing its disciplined credit management. The bonds provide non-dilutive financing, allowing the company to expand without affecting existing shareholders.

Wesley Shen, Executive Director and CEO of Skylink Holdings, stated, “The completion of our S$5m Hire Purchase Bonds issuance reflects investor confidence in our plans to expand the Credit Business.” Non-Executive Chairman Teh Wing Kwan added, “This non-dilutive funding structure provides additional financial capital and flexibility as the Group targets to expand its income-generating loan books.”

The successful bond issuance underscores Skylink Holdings’ strategic growth plans and its commitment to supporting small and medium-sized enterprises (SMEs) with essential mobility solutions.