Industry News

The Singapore Island Country Club (SICC) has officially reopened its historic Island Course, following an extensive redevelopment aimed at preserving its legacy whilst integrating modern sustainability practices. The reopening ceremony, held on 17 September, was attended by Emeritus Senior Minister Goh Chok Tong and nearly 80 distinguished guests, including club members and partners.

The Island Course, originally designed by Scottish architect Peter Robertson in 1932, has been a cherished golfing landmark in Singapore. The recent redevelopment, led by the late Neil Haworth of Nelson & Haworth Golf Course Architects, sought to honour the course’s historic design whilst adapting it for contemporary play. “We set out to honour the soul of The Island Course, its history, its natural beauty, its place in the hearts of Members whilst reimagining it for the demands of modern play,” said Ivan Chua, Chairman of The Island Golf Redevelopment Project Committee.

Key improvements include advanced turf and drainage systems, multiple tee options for inclusivity, and eco-friendly technologies such as SubAir and TORO Lynx irrigation systems. Over 90% of the flora has been replanted with native species to enhance biodiversity, and fallen trees have been repurposed into course markers.

The redevelopment positions SICC as a premier golfing destination, with the club set to host the Moutai Singapore Open later this year. Beyond golf, SICC offers a range of lifestyle amenities, reinforcing its status as a leading sport and leisure venue in Singapore.

Singaporeans have set a new record by contributing $6.7b in top-ups to their Central Provident Fund (CPF) accounts in the first seven months of 2025. This unprecedented figure highlights a growing trend of individuals prioritising their retirement savings amidst economic uncertainties.

The CPF Board announced that the surge in top-ups reflects increased public awareness and confidence in the CPF system as a reliable means of securing financial stability for retirement. The board noted that the top-ups were made through various schemes, including the Retirement Sum Topping-Up Scheme, which allows members to enhance their retirement savings.

The increase in CPF contributions is significant as it underscores the importance of long-term financial planning in Singapore. With an ageing population and rising life expectancy, the need for adequate retirement savings has become more pressing. The CPF system, a cornerstone of Singapore’s social security framework, plays a crucial role in ensuring that citizens have sufficient funds to support themselves in their later years.

Looking ahead, the CPF Board aims to continue promoting awareness and understanding of the benefits of CPF top-ups. The board is committed to encouraging more Singaporeans to take proactive steps in securing their financial future, ensuring that the trend of increased contributions continues.

Skylink Holdings Limited, a Singapore-based commercial vehicle specialist, made a notable debut on the Catalist Board of the Singapore Exchange (SGX) on 17 September 2025. The company’s shares closed at S$0.250, a 25% increase from the S$0.20 placement price, highlighting strong investor confidence.

The trading day saw Skylink’s shares reach an intraday high of S$0.275, with approximately 10.8 million shares changing hands. This performance underscores the robust support for the company’s reverse takeover (RTO) of Skylink APAC Pte. Ltd., which had been previously announced. The RTO attracted significant interest from prominent funds, including Asdew Acquisitions Pte. Ltd. and ICH Capital Pte Ltd.

The listing ceremony was attended by Skylink’s directors and senior management, alongside key figures such as Koh Jin Hoe, Head of Capital Markets at SGX, and Tan Kian Tiong, Head of Capital Markets at SAC Capital. The event marked a new chapter for Skylink, which operates one of Singapore’s largest commercial leasing fleets and manages a loan book of approximately S$66 million.

In connection with the RTO, Skylink raised approximately S$9.2 million, including S$4.2 million from the placement of shares and S$5 million from the issuance of convertible bonds. The funds will support the expansion of Skylink’s loan book, fleet size, and engineering capacity.

Wesley Shen, CEO of Skylink Holdings, expressed optimism about the company’s future, stating that the listing positions Skylink to expand its capabilities and services.

The National University of Singapore (NUS) Business School’s Master of Business Administration (MBA) programme has been ranked first in Asia for the third consecutive year, according to the QS Global MBA Rankings 2026. The programme has also achieved its highest global ranking, moving up two places to 23rd worldwide, amidst an evaluation pool that expanded by nearly 15%.

The QS Global MBA and Business Masters Rankings assess programmes based on several key performance indicators, including Employability, Return on Investment, and Thought Leadership. The NUS MBA scored an impressive 87 out of 100 overall, excelling in Thought Leadership with a score of 82.5, Employability at 83.9, and Return on Investment at 94.2. These scores are at least 30% above the global average.

The programme’s employability rate has notably improved, reaching 95% for the Class of 2024, up from 83.3% the previous year. Additionally, the programme has advanced 27 places to 56th globally in Class and Faculty Diversity, reflecting increased representation of women and international members.

Andrew Rose, Dean of NUS Business School, stated, “Our position as Asia’s top MBA for the third consecutive year, alongside our historic rise to 23rd globally, reflects the School’s commitment to academic excellence, innovative research, and developing dynamic, adaptive leaders.”

The NUS MBA offers a transformative experience, equipping future leaders with a global toolkit and cross-cultural insights. The programme’s curriculum is anchored in Singapore’s dynamic business environment, providing strong global exposure through international study trips and exchange opportunities. Students can customise their learning journey with over 50 electives across nine areas of specialisation, enhancing their ability to lead with impact both within Asia and globally.

The Singapore Business Federation (SBF) has spearheaded a delegation of prominent Singaporean enterprises at the 22nd China-ASEAN Expo (CAEXPO) in Nanning, China. The event, themed “Digital Intelligence and Innovation Empower Development,” underscores the critical role of technology and innovation in fostering regional growth and economic collaboration.

Senior Minister of State for Trade and Industry Low Yen Ling inaugurated the Singapore Pavilions, featuring 25 exhibitors, including 10 newcomers. These exhibitors showcased a wide array of products and services, spanning food, healthcare, education, and technology. Notable participants included DBS Bank, Grab, Pacific International Lines, and the Port of Singapore Authority (PSA).

The Expo coincides with the 35th anniversary of diplomatic relations between Singapore and China, celebrated through events like the Singapore Day Seminar and Singapore-China Friendship Night. These gatherings reaffirm the nations’ commitment to deepening bilateral ties.

SBF Chairman S. S. Teo highlighted the significance of the upgraded China-ASEAN Free Trade Area (FTA) 3.0 framework, stating, “With FTA 3.0 opening new doors for cooperation, Singapore businesses are well positioned to play a leading role in digital transformation, green growth, and innovation-led partnerships.”

Singaporean business leaders are also engaging in high-level forums alongside ASEAN and Chinese counterparts, discussing topics such as the China-Singapore Free Trade Agreement (CSFTA), the Regional Comprehensive Economic Partnership (RCEP), and supply chain resilience.

The Expo serves as a platform for Singapore to demonstrate its capabilities as a trusted partner in sustainable and tech-enabled growth, fostering strategic collaborations that enhance global competitiveness.

The Singapore Polo Club (SPC) is set to host its third annual SPC Outreach Polo Tournament & Carnival on 11 October 2025, from 10am to 6pm. The event, held at the Club grounds, will feature Senior Minister Lee Hsien Loong as the Guest-of-Honour. This initiative aims to make polo more accessible whilst supporting the SPC Outreach Fund, which benefits several charitable organisations.

The carnival will offer a range of activities, including pony rides, horse feeding, and a lifestyle bazaar. Attendees can also enjoy performances and polo matches, including the ATOMS Outreach Cup and the SPC Outreach Cup. The event will culminate in a prize-giving ceremony and cheque presentation to the beneficiaries.

Proceeds from the event will support four charities: Dementia Singapore, Gateway Arts, The Straits Times School Pocket Money Fund, and PERTAPIS Education & Welfare Centre. These organisations provide essential services ranging from dementia care to financial assistance for low-income students.

The Singapore Polo Club, founded in 1886, continues to promote equestrian sports and community engagement. The event promises a day of fun and philanthropy, with all contributions aiding meaningful causes. For more details, visit the Singapore Polo Club’s website.

In a significant financial development, 76 primary-listed companies in Singapore have collectively repurchased S$1.65b worth of shares through open market acquisitions by 11 September 2025. This marks an 80% increase compared to the same period in 2024, driven largely by the country’s major banks. United Overseas Bank (UOB), DBS Group Holdings, and Oversea-Chinese Banking Corporation (OCBC) led the buyback efforts, contributing a combined S$1.28b.

The surge in buybacks is attributed to market volatility in April, which alone accounted for S$425m. Companies often engage in share buybacks to enhance financial metrics such as Earnings per Share (EPS) and Return on Equity (ROE), and to efficiently manage excess capital. The Monetary Authority of Singapore (MAS) notes that buybacks can also capitalise on perceived undervaluation and lower overall capital costs.

Among the notable buybacks, UOB repurchased shares at an average price of S$35.39, DBS at S$42.77, and OCBC at S$16.67. Beyond the Straits Times Index (STI) stocks, Olam Group and Raffles Medical Group also made significant buybacks.

Additionally, AEM Holdings, Kingsmen Creatives, and Jason Marine Group executed buybacks for the first time in years, indicating a strategic move to bolster shareholder value and optimise capital structures. These actions reflect a broader trend of companies leveraging buybacks as a tool for capital management and shareholder engagement.

As the year progresses, these buyback activities are expected to continue shaping the financial landscape in Singapore, with implications for both market stability and investor confidence.

AIA Singapore has unveiled findings from its eighth Live Better Study, revealing a shift in how Singaporeans view retirement. The study shows a growing trend towards seeking purpose and reinvention in retirement, aligning with the government’s focus on active ageing. However, it also highlights a significant gap between these aspirations and the practical preparations being made.

The study, conducted in May 2025, found that 55% of Singapore residents plan to work post-retirement, driven by a desire for purpose, to cure boredom, or to try something new, rather than financial necessity. Despite this, only 50% feel financially stable, with those in their 40s expressing the most negativity. Concerns about the cost of living and healthcare expenses remain prevalent.

Social wellness emerged as a critical yet often overlooked aspect of retirement planning. Only 37% of respondents have considered social wellness, with single individuals particularly worried about isolation and caregiving. The study underscores the importance of social connections, echoing recent government initiatives like Age Well Neighbourhoods.

Irma Hadikusuma, Chief Marketing and Healthcare Officer at AIA Singapore, noted, “Singapore residents are increasingly envisioning a purposeful and active post-career life, yet our study reveals many are not adequately preparing for this new reality.”

The findings indicate an urgent need for more education and support to help Singaporeans transition into retirement, particularly for those aged 40-49 and single individuals. This aligns with the government’s efforts to enhance community support and social infrastructure, ensuring a more inclusive society for an ageing population.

Busways Pte Ltd has announced partnerships with leading industry players to develop a state-of-the-art electric vehicle (EV) charging hub in Senoko, Singapore, set to launch in December 2025. This initiative aims to enhance Singapore’s EV charging infrastructure by integrating renewable energy systems, battery storage, and digital management tools to support a variety of vehicles, including passenger cars, buses, and heavy-duty lorries.

The collaboration involves key partners such as Cantal Electric, Schneider Electric Singapore, and StarCharge Energy, focusing on areas like smart software, power distribution, and renewable energy integration. Busways CEO Martin Toh stated, “Singapore is a natural hub for innovation and sustainability, and we see tremendous potential to shape the future of electric mobility here.”

The hub will feature DC fast charging technology, photovoltaic solar panels, wind turbines, and battery energy storage systems to ensure efficient and reliable energy use. This project underscores Busways’ commitment to sustainable transportation and aims to meet the growing demand for scalable and efficient EV charging solutions in Singapore.

Busways, established in 2006, specialises in electrical power distribution and EV charging infrastructure. With over 300 employees, the company is recognised for its commitment to safety and innovation, holding several ISO certifications and industry awards. This new venture is expected to significantly contribute to Singapore’s transition towards cleaner and smarter transportation solutions.

FedEx has launched the FedEx Import Tool in Singapore, a digital solution designed to simplify cross-border shipping for businesses. As Singapore’s imports reached S$611.4b in 2024, the demand for efficient customs clearance is growing. The tool offers a unified self-service platform for document management and shipment tracking, providing importers with greater end-to-end visibility.

The FedEx Import Tool features a dashboard with real-time clearance tracking, allowing users to monitor shipments up to 90 days post-pickup. It also sends proactive notifications via email and mobile to expedite the clearance process and reduce delays. Additionally, the tool facilitates convenient GST duties and taxes payment directly from the shipment’s tracking page on FedEx’s website.

Eric Tan, managing director of FedEx Singapore, stated, “Singapore’s position as a global trade hub calls for logistics solutions that harness innovation to address growing complexities. The FedEx Import Tool does exactly that, using digital technology to streamline customs processes, increase transparency, and give importers the tools to manage their shipments with confidence.”

This launch is part of FedEx’s broader mission to make supply chains smarter. Earlier this year, FedEx introduced the Collaborative Shipping Tool in Singapore, enhancing efficiency in the import process. Other digital solutions include FedEx Ship Manager, which aids small businesses and e-commerce merchants in managing shipments online, and FedEx Ship Manager Lite for mobile shipment arrangements.

FedEx continues to leverage advanced technologies, such as machine learning, to provide customers with precise delivery windows and enhance its global network.