Industry News

In May 2026, Singapore’s property market saw a significant shift as developers launched 357 units, marking a 75% decrease from the previous month but a notable 17.9-fold increase compared to the same period last year. Hudson Place Residences, located in Media Circle, emerged as the sole major non-landed project, selling 209 units, which accounted for 63.9% of its total offerings. The development attracted buyers with its proximity to Kampong AI in one-north and its serene environment.

The median price for Hudson Place Residences was set at $2,465 per square foot (psf), positioning it competitively against Bloomsbury Residences at $2,575 psf. Overall, 447 new homes were sold in May, reflecting a 71.1% decrease from April 2026 but a 43.3% increase from April 2025. This marked the fourth consecutive month where sales outpaced launches, indicating robust demand.

Singaporean buyers dominated the market, comprising 89.6% of purchases, with 61.3% of sales priced under $2.5m. Foreign buyers accounted for 1.8% of transactions, including a notable $11m purchase at Park Nova.

Looking ahead, the June school holidays are expected to slow sales, with projections between 150 and 200 units. However, July 2026 may see new launches, including Dunearn House and Lentor Gardens Residences, as developers aim to avoid the lunar seventh month. Overall, developers anticipate launching up to 7,200 units in 2026, the lowest since 2023, with transaction volumes estimated between 8,000 and 10,000 units and price growth projected at 2% to 5%.

InnoTek Limited, a precision metal components manufacturer listed on the Singapore Exchange, has announced the incorporation of Mansfield Technology (Thailand) Co., Ltd. This new subsidiary, located in Chonburi, Thailand, aims to support InnoTek’s first liquid cooling project and expand its presence in the AI infrastructure sector. The facility, with a paid-up capital of THB 100m (S$3.9m), is set to begin operations in August 2026.

The new facility will focus on CNC machining for liquid cooling components used in AI servers and rack infrastructure. This development is part of InnoTek’s strategy to strengthen its manufacturing capabilities in Southeast Asia. The company has secured an initial project with an established customer, with mass production expected to start in October 2026.

InnoTek plans to invest approximately S$7.5m in capital expenditure for this project, which includes acquiring advanced CNC machining equipment and automation systems. Executive Director and CEO Lou Yiliang stated, “The establishment of Mansfield Technology Thailand marks another important step in our expansion into higher-value manufacturing segments.”

The facility will complement InnoTek’s existing operations in Rayong, Thailand, which is undergoing a significant expansion. The advanced machining capabilities at the new subsidiary are also expected to open opportunities in robotics and humanoid technologies, aligning with the company’s long-term growth strategy.

Pints AI, a Singaporean enterprise AI startup, has successfully raised US$5.6m (S$7.2m) in a pre-Series A funding round led by Tin Men Capital, with participation from SBI Ven Capital, SEEDS, NTUitive, SUTD Venture Fund, and Tenity. The funds will be used to expand into the Asia-Pacific (APAC) and Middle East markets, and to develop Autothought Studio, a toolset enabling financial institutions to build and manage AI applications internally.

The startup’s platform, Autothought, is designed to automate processes like underwriting and claims within banks and insurers, whilst ensuring compliance with regulatory audit trails. Over the past two years, it has helped 12 financial institutions across Singapore, India, Hong Kong, and the United States save a combined US$10m (S$13m), with significant reductions in underwriting and onboarding times.

Pints AI’s approach addresses the challenges many regulated institutions face in deploying AI, particularly the need for traceable and defensible AI-assisted decisions. CEO Partha Rao emphasised, “The real value of AI in financial services will be determined by how deeply it can operate within the core systems and infrastructure limits of a bank or insurer.”

The investment aligns with Singapore’s national AI agenda, which includes a S$37b investment in frontier technology development by 2030. This funding will support Pints AI’s efforts to enhance regulatory governance capabilities and expand its engineering team, positioning the company to meet the compliance demands of financial institutions in new markets.

CGS International Securities Singapore’s Prime Brokerage & Investment Services, in collaboration with J. Rotbart & Co., hosted the fourth edition of Capital Conversations by the Bay on 11 June. The event gathered industry leaders to explore the strategic role of gold amidst current macroeconomic challenges.

The session featured presentations by Joshua Rotbart, Founder of J. Rotbart & Co., and Albert Cheng, CEO of the Singapore Bullion Market Association. Rotbart emphasised gold’s resilience, noting its 20% appreciation during 2020’s market stress and a 310% increase over the past decade. He highlighted central banks’ shift from net sellers to buyers post-2008, with 2025 seeing 863 tonnes purchased, reflecting a move towards decentralised reserves.

Cheng discussed gold’s relevance in modern portfolios, citing its role in addressing inflation, currency risk, and geopolitical tensions. He noted gold’s 40 new highs in 2024 and 53 in 2025, with a broadening buyer base including private investors and central banks.

The panel, moderated by Gunawan Wijaya of CGS SG, examined gold’s practical access and allocation. Panellists suggested a 3% to 5% allocation for general investors, with higher percentages for high-net-worth individuals. They noted gold’s appeal as a tangible asset for wealth preservation, especially in Singapore’s growing family office sector.

The event underscored gold’s strategic importance, with CGS SG affirming its commitment to fostering dialogue among investment leaders.

Manulife Investment Management (M) Berhad has unveiled the Manulife Singapore Equity Fund, providing Malaysian investors with a new avenue for income and long-term capital growth. This launch comes as Singapore’s equity market undergoes significant changes, driven by the Monetary Authority of Singapore’s SGD 6.5 billion Equity Market Development Programme (EQDP), which aims to enhance market liquidity and broaden investor participation.

The fund is a feeder fund investing in the Manulife Singapore Opportunities Income Fund, managed by Manulife Investment Management (Singapore) Pte. Ltd. It targets opportunities in Singapore’s small- and mid-cap segments, which have historically been undervalued due to limited analyst coverage and low liquidity. Jason Chong, CEO of Manulife Investment Management (M) Berhad, highlighted the fund’s potential to diversify portfolios alongside domestic and global equities.

Hock Fai Chan, Head of Equities at Manulife Investment Management in Singapore, noted that the fund’s strategy includes a 60% allocation to large-cap leaders and 40% to small- and mid-cap companies. This approach aims to capture re-rating opportunities as market conditions improve. The target fund currently yields approximately 4.2%, offering stable income and growth prospects.

The fund’s initial offer period runs from 10 June to 30 June 2026, available in SGD, RM, and RM-hedged share classes. It is designed for investors seeking capital appreciation and income with a long-term investment horizon.

MattenPlant Pte Ltd, a Singapore-based specialist in water treatment, has launched Southeast Asia’s first membrane technology-based Cold Water for Injection (Cold WFI) system. This initiative, unveiled at the Singapore International Water Week 2026, marks Matten’s strategic expansion into pharmaceutical water solutions, offering a locally assembled system backed by regional engineering support.

The Cold WFI system provides an energy-efficient alternative to traditional thermal distillation, meeting international pharmacopoeial standards. By eliminating continuous steam generation, it reduces energy consumption and operating costs, supporting sustainability goals through lower carbon emissions. This development comes as pharmaceutical manufacturing investments rise in Southeast Asia, increasing demand for compliant water infrastructure.

Victor Lim, CEO of MattenPlant, highlighted the region’s rapid growth in demand for efficient water systems, stating, “With our engineering depth, manufacturing capability, and regional presence, Matten is well positioned to be a trusted partner to pharmaceutical manufacturers in this part of the world.”

In addition to pharmaceutical solutions, Matten will showcase technologies addressing water quality and sustainability challenges across various sectors. These include a rapid bacterial analyser for Legionella risk monitoring and solutions for resource efficiency and emissions reduction.

The SIWW 2026 Water Expo runs from 16 to 18 June at the Sands Expo & Convention Centre, Singapore. Visitors can explore Matten’s offerings at Booth B2-D20 or visit their website for more information.

The Monetary Authority of Singapore (MAS) has announced that a revised framework for Single Family Offices (SFOs) will be implemented on 15 June 2026. This new framework aims to simplify the process for SFOs to establish operations in Singapore whilst enhancing the monitoring of these entities.

The updated framework is designed to be structure-agnostic, allowing for a straightforward class exemption from licencing for all qualifying SFOs in Singapore. To comply, SFOs must notify MAS of their operations and maintain an account with a MAS-licensed bank. Additionally, they are required to file an annual return detailing the total assets under management and the name of their bank.

This revision follows a public consultation by MAS on the SFO framework, with industry feedback incorporated into the finalised guidelines. The industry has generally welcomed these changes, which aim to streamline operations and improve oversight.

Existing SFOs in Singapore will have a one-year transitional period, until 15 June 2027, to align with the new framework. Further details can be found in the Frequently Asked Questions on the Licencing Exemption Framework for Single Family Offices.

The revised framework reflects MAS’s commitment to maintaining Singapore’s position as a leading hub for family offices, ensuring regulatory processes are efficient and transparent.

Kaopiz Holdings and QuantumTX have signed a Memorandum of Understanding (MOU) to co-develop AI-powered Internet of Things (IoT) healthcare solutions, targeting Asia’s ageing population. The agreement was formalised on 29 May at the Vietnam-Singapore Tech Connect Forum in Singapore, attended by top government officials from both countries.

The collaboration combines QuantumTX’s MitoCharge technology, which offers exercise benefits without physical stress, with Kaopiz’s expertise in software, AI, and IoT engineering. This partnership aims to create preventive healthcare solutions that leverage advanced health data platforms.

QuantumTX’s CEO, Ivan Goh, highlighted the significance of the partnership, stating, “Partnering with Kaopiz accelerates our next-generation product development whilst opening the door for MitoCharge technology to reach users across Vietnam and Southeast Asia.”

The collaboration focuses on three strategic pillars: IoT device and software development, technical support and information exchange, and joint market development. Kaopiz will integrate AI, cloud computing, and data analytics into QuantumTX’s medical devices, enhancing predictive health insights and remote patient monitoring.

Kaopiz’s CEO, Le Van Hoang, expressed commitment to the project, saying, “Population ageing is a shared challenge that both Vietnam and Singapore must solve, and we believe technology is the key.”

This partnership marks a significant step in Vietnam-Singapore technology cooperation, translating government-level commitments into tangible healthcare innovations. The initiative aims to address demographic challenges and improve healthcare accessibility for ageing populations in the region.

Fortinet has announced the launch of its new Network Detection and Response (NDR) cloud Point of Presence (PoP) in Singapore, aimed at bolstering threat detection capabilities across the ASEAN region. This strategic move is designed to enhance cybersecurity measures by providing faster and more efficient threat detection and response services to businesses operating in the area.

The introduction of the Singapore NDR cloud PoP is part of Fortinet’s ongoing efforts to strengthen its cybersecurity infrastructure in Southeast Asia. By establishing a local PoP, Fortinet aims to reduce latency and improve the speed of threat detection, which is crucial for businesses facing increasingly sophisticated cyber threats. The new PoP will enable organisations to better protect their networks by leveraging Fortinet’s advanced threat intelligence and machine learning capabilities.

With cyber threats on the rise, the establishment of the Singapore NDR cloud PoP is expected to play a critical role in enhancing the cybersecurity posture of businesses in the region. As Fortinet continues to expand its presence and capabilities, organisations can anticipate improved protection against evolving cyber threats, ensuring the security and integrity of their digital assets.

Singapore’s property market is set for a dynamic second half of 2026 with the launch of up to 11 condominium projects, totalling 3,550 units. This follows a robust start to the year, with the first batch of four projects, comprising 1,679 units, scheduled for July. These include Amberwood at Holland, Dunearn House, Lentor Gardens Residences, and Lucerne Grand. The quarter will conclude with the mega Thomson Reserve project, offering 1,240 units in September.

In the public housing sector, 2,520 Build-To-Order (BTO) flats will be available in June across Sembawang and Ang Mo Kio. Sembawang Portico and Sembawang Brook will offer a combined 2,035 units with wait times of under three years, whilst Kebun Baru Ridge in Ang Mo Kio will provide 485 units with a slightly longer wait.

Investment activity is also heating up, with Lian Beng Group’s Ong family acquiring two bungalows on Belmont Road for S$60m. Meanwhile, City Developments Ltd (CDL) and Hong Realty have secured a 99-year leasehold site on Peck Hay Road for S$542.4m, planning a 39-storey residential tower.

In the industrial sector, Bombardier is expanding its Asia-Pacific service hub in Singapore with a S$100m investment, aiming to double its current footprint. Additionally, Applied Materials has opened a new US$500m plant in Tampines, creating 1,000 jobs to meet rising AI-driven demand.

These developments, as reported by Savills Singapore in their latest press digest, highlight Singapore’s ongoing appeal as a hub for residential, investment, and industrial growth, with significant implications for the local economy and housing market.