Industry News

The Maritime and Port Authority of Singapore (MPA) and Shanghai Maritime University (SMU) have renewed their partnership by signing a Memorandum of Understanding (MOU) to enhance maritime talent development and knowledge exchange. The agreement, signed by Ang Wee Keong, Chief Executive of MPA, and Professor Chu Beiping, President of SMU, aims to bolster cooperation in areas such as maritime safety, digitalisation, and decarbonisation.

Initiated in 2020, the partnership has facilitated exchanges of students and maritime professionals, alongside participation in high-level seminars and knowledge-sharing platforms. These initiatives provide participants with insights into maritime developments in both countries. Since 2023, the collaboration has expanded to include mutual participation in maritime leadership programmes and contributions to forums shaping maritime policy across China and ASEAN.

The renewed MOU will continue to support information sharing and exchanges between academia and maritime professionals. This includes study visits, learning journeys, and joint training programmes focusing on maritime safety and security, maritime energy, port management, navigational technologies, and marine environmental management.

Ang Wee Keong emphasised the value of the partnership, stating, “Our collaboration allows both sides to learn from each other’s experience and strengthens our capabilities in these areas.” Professor Chu Beiping highlighted the importance of international exchanges amidst global maritime industry transformations, expressing eagerness to expand collaboration in key maritime areas.

The partnership underscores a shared commitment to advancing maritime education and fostering international exchange, creating more opportunities for mutual learning between maritime professionals and students from both countries.

MetaComp, a leader in unified Web2.5 digital financial solutions in Asia, has announced its strategic move to utilise Solana as the primary blockchain for its core business operations. This decision, revealed at the Money20/20 event, aims to bolster MetaComp’s capabilities in cross-border payments, treasury management, and real-world asset tokenisation across Asia-Pacific, the Middle East and Africa, and Latin America.

MetaComp plans to integrate Solana into its StableX Network to enhance cross-border payment efficiency. Solana’s high throughput and low transaction costs make it ideal for MetaComp’s US$15b annualised processed volume. The StableX Engine will leverage Solana’s capabilities to optimise settlement pathways, ensuring faster and cost-effective transactions.

In treasury management, MetaComp will expand on-chain treasury yield opportunities through its affiliate, Alpha Ladder Finance. This will allow clients to invest idle capital into yield-bearing products within the Solana ecosystem, enhancing the efficiency of treasury operations traditionally managed through fixed income channels.

Additionally, MetaComp will advance the development of real-world asset tokenisation on Solana, enabling issuers to access global liquidity pools and raise capital compliantly. Solana’s market capitalisation for real-world assets reached USD 2 billion by early 2026, surpassing Ethereum in total holders.

Dr. Bo Bai, Chairman and Co-founder of MetaComp, stated, “Leveraging Solana will bring faster, cheaper, and more accessible financial services to the markets that need them most.” Lu Yin, Head of APAC at Solana Foundation, added, “MetaComp’s expertise combined with Solana’s scalability creates a powerful foundation for financial services across emerging economies.”

This collaboration marks a significant expansion phase for MetaComp, following its recent funding rounds and the launch of its Web2.5 VisionX Engine.

The Ascott Limited, a wholly owned lodging business unit of CapitaLand Investment, has announced a significant investment in AI-ready infrastructure to lead in agentic commerce. This strategic move involves collaborations with Accenture, Amadeus, and EHL Hospitality Business School to enhance digital architecture, distribution, and workforce capabilities.

Ascott’s collaboration with Accenture aims to transform its chatbot, Cubby, into a personal travel agent capable of planning itineraries and completing bookings. Amadeus will provide a Central Reservations System, allowing Ascott to offer detailed property attributes to guests and AI agents. EHL will focus on training programmes to equip Ascott’s workforce with the necessary skills to maintain brand standards and service philosophy.

Kevin Goh, CEO of Ascott, emphasised the importance of this initiative, stating, “Distribution shifts, labour pressures, and rising guest expectations are reshaping hospitality. AI can power our operations, but only our people can exercise the judgement that turns a stay into a memory.”

The investment is part of Ascott’s broader strategy to improve guest interactions and enhance property discoverability in an AI-led travel environment. With over 1,000 properties across 14 brands in more than 230 cities, Ascott aims to leverage AI to deliver personalised guest experiences and improve operational efficiency. As the company continues to innovate, it anticipates stronger booking values and improved AI visibility, positioning itself as a leader in the evolving travel landscape.

Ant International has announced a significant upgrade to its global wallet gateway, Alipay+, by integrating privacy enhancing technologies (PETs) across all critical operations. This development marks Alipay+ as the first digital payment solution to fully implement PETs in a live setting, offering enhanced data privacy for its 1.8 billion e-wallet users.

The application of PETs ensures that all data processed by Alipay+ is encrypted and remains unidentifiable throughout the payment process. This advancement supports compliance with data privacy regulations, maintains the continuity of cross-border transaction services, and reduces the risk associated with transmitting sensitive information. “Trust in our systems is integral to our ability to deliver secure and efficient digital services to users globally,” stated Jiang-Ming Yang, Chief Innovation Officer of Ant International.

Alipay+ partners are encouraged to adopt PETs, with Ant International planning to open source the PETs codebase in phases. This move aims to provide partners with full visibility and control over their data privacy implementations.

In collaboration with Singapore’s Personal Data Protection Commission (PDPC), Ant International has also developed a proof-of-concept for PETs-enabled AI prediction model training. This initiative demonstrates the company’s commitment to ensuring that emerging technologies are developed with trust and compliance at their core.

Ant International continues to support initiatives like the Infocomm Media Development Authority’s (IMDA) PET Sandbox, encouraging companies to explore new data opportunities without compromising sensitive information. The company is also partnering with Nanyang Technological University, Singapore, to advance research in trust technologies, further solidifying its role in pioneering secure digital payment solutions.

Kennedys has announced the appointment of Trevor Ho as a Partner in its Singapore office, effective April 2026. Ho, a specialist in Financial Lines, brings over 20 years of experience to the firm, having previously served as a Partner at Colin Biggers & Paisley. His expertise includes advising insurers on complex financial lines coverage issues and dispute resolution.

Anita Quy, Joint Managing Partner for Kennedys in Singapore, highlighted that Ho’s appointment aligns with the firm’s strategy of targeted growth driven by client demand in the Asia Pacific region. Ho expressed enthusiasm about his move to Singapore, stating, “I’m delighted to join a global specialist insurance law firm of Kennedys’ stature.”

Ho’s legal experience spans professional negligence, financial services compliance, and contractual disputes, among others. He has also assisted underwriters with policy drafting and interpretation. His addition to the team is expected to bolster Kennedys’ capabilities in delivering value to its clients across various insurance lines.

Kennedys has been operating in Singapore since 2008 and established a joint law venture with Legal Solutions in 2015, enhancing its service offerings. The firm has grown to over 80 lawyers and business service professionals in Singapore, including 11 partners. Recent expansions include the addition of marine and trade credit insurance specialist Iain Anderson.

The appointment of Ho underscores Kennedys’ commitment to strengthening its presence in the Asia Pacific region, particularly in financial lines, property, energy, and construction sectors.

The Singapore Institute of Technology (SIT) and DNV have announced a collaboration to develop a Master of Science in Vessel Management, with the Singapore Maritime Foundation (SMF) facilitating industry engagement. This initiative, unveiled during Singapore Maritime Week, aims to bolster Singapore’s maritime talent pipeline and reinforce its status as a leading international maritime centre.

The programme is tailored for engineering and naval architecture graduates, as well as maritime professionals seeking to transition into technical superintendent roles. It focuses on providing alternative pathways for those with technical or seafaring backgrounds to move into shore-based vessel management positions. The curriculum is designed to address the evolving needs of the maritime industry, particularly in light of digitalisation and the shift towards low and zero carbon fuels.

Dr Shahrin Osman, Business Development Director at DNV Maritime Advisory in Singapore, highlighted the programme’s relevance, stating, “Digitalisation and the transition to low and zero carbon fuels are reshaping the expectations of the maritime workforce. Through this programme, DNV and SIT aim to equip new entrants with the applied knowledge and practical competence needed as the industry transitions towards more digital and lower carbon operations.”

Professor Susanna Leong, Deputy President (Academic) & Provost at SIT, emphasised the university’s commitment to developing industry-ready talent, noting that the programme will help manage complex vessel operations and drive sustainable maritime practices.

The Master of Science in Vessel Management is set to commence in early 2027, offering a flexible, competency-based model that combines SIT’s applied learning with DNV’s industry expertise. This initiative is expected to enhance the supply of skilled superintendents within the Maritime Singapore ecosystem.

A new report by Delinea reveals that 95% of Singaporean organisations are under pressure to relax identity security measures to accommodate AI initiatives. This comes despite significant gaps in visibility and governance, as highlighted in the report titled “Uncovering the Hidden Risks of the AI Race.”

The report, based on a global survey of over 2,000 IT decision-makers, indicates a growing risk landscape as AI-driven automation increases the number of identities, particularly non-human identities (NHIs), within enterprise environments. In Singapore, 93% of respondents reported at least one identity visibility gap, with machine identities being the most affected.

Art Gilliland, CEO of Delinea, commented, “The pressure to move fast on AI is real, but identity governance has not kept pace, which exposes enterprises to significant risk.” The report also highlights that 86% of Singaporean organisations struggle to explain why an AI or machine identity performed a privileged action, underscoring challenges in traceability and accountability.

Despite these governance gaps, 87% of Singaporean respondents believe they are ready for AI adoption. However, 47% acknowledge deficiencies in their identity governance systems. This discrepancy points to an “AI security confidence paradox,” where perceived readiness does not match actual capabilities.

As AI agents increasingly access critical infrastructure and data, Delinea emphasises the need for robust identity discovery, privilege management, and activity auditing across human and machine identities. The company advocates for a unified approach to ensure secure AI-driven automation.

Dezign Format has reported an adjusted net profit of S$2.2m for the financial year 2025, marking a significant step in its strategic expansion across Southeast Asian markets. The company has signed a memorandum of understanding (MOU) with Hustle & Bustle Group, a homegrown edutainment firm, on 21 April 2026. This agreement includes Hustle & Bustle and its subsidiary, IMBA Global, and proposes an equity and potential cash investment to leverage long-term synergies.

The collaboration grants Dezign Format the Right of First Refusal as the preferred design and build provider for Hustle & Bustle and IMBA, ensuring a steady pipeline of future projects. Mike Chong, Executive Chairman and CEO of Dezign Format, stated, “Our collaboration with Hustle & Bustle at the IMBA Theatre has been a strong foundation for this deeper partnership. By investing at the parent level, we are making a deliberate move to align our long-term interests with a premier homegrown edutainment brand.”

This partnership is expected to bolster Dezign Format’s presence in the immersive location-based entertainment (LBE) sector, particularly with a permanent presence at the IMBA Theatre at Gardens by the Bay. The strategic move is anticipated to enhance the company’s growth trajectory and secure high-profile projects in the future.

As Dezign Format positions itself for growth, the collaboration with Hustle & Bustle is set to play a crucial role in expanding its footprint in the Southeast Asian market, aligning with its long-term business objectives.

FairPrice Group (FPG) has announced plans to expand its Store of Tomorrow (SOT) programme across its supermarket network by the end of 2026. This initiative, in collaboration with Google Cloud, aims to enhance the shopping experience through digital innovations such as smart shopping trolleys, digital price cards, and a hybrid retail format known as ShopBeyond.

Launched in June 2025, the SOT programme is committed to piloting 20 digital solutions annually to transform retail experiences for both customers and staff. The first physical Store of Tomorrow opened at Punggol Digital District in August 2025, serving as a testing ground for these innovations.

Group CEO Vipul Chawla emphasised the programme’s focus on using technology to simplify lives. “By bringing proven AI solutions from our Store of Tomorrow programme to more supermarkets across the island, we want to reimagine the shopping experience for our customers and remove the friction from their weekly grocery runs,” he stated.

The innovations include smart trolleys that offer personalised promotions and in-store navigation, digital price cards that provide real-time pricing, and the Grocer Genie app to streamline store operations. These solutions are expected to improve efficiency and customer satisfaction, with smart trolleys already reducing checkout times significantly.

Mark Micallef, Managing Director of Southeast Asia at Google Cloud, highlighted the programme’s success in achieving operational return on investment. “FairPrice Group’s Store of Tomorrow programme is a masterclass in how retailers can thoughtfully and strategically transcend enterprise AI pilots to achieve tangible value at scale,” he said.

The expansion of the SOT programme is set to reach 48 FairPrice outlets by the end of 2026, with plans for further rollout in subsequent years.

ETC has announced the launch of a collective sale for High Point, a freehold residential site at 30 Mount Elizabeth in Singapore’s prestigious District 9. The site, elevated above the Orchard Road corridor, is available via a public tender closing on 9 June 2026. The guide price is set at S$580m, translating to approximately S$2,641 per square foot per plot ratio, with no land betterment charge applicable.

The site spans 4,422.8 square metres and is zoned for residential use under the URA Master Plan 2025, allowing for a building height of up to 36 storeys. This offers potential for panoramic city views, making it an attractive proposition for developers. Swee Shou Fern, Head of Investment Advisory at ETC, highlighted the site’s appeal amidst a limited supply of new ultra-luxury freehold projects in the Orchard Road area. “Demand for trophy residential assets in Singapore has strengthened, supported by local and international ultra-high-net-worth individuals,” she noted.

The scarcity of new freehold opportunities in District 9 has been increasingly evident, with most new developments being leasehold. This positions 30 Mount Elizabeth as a prime opportunity for developers to create a benchmark ultra-luxury residential project. The location offers excellent connectivity, with proximity to Orchard and Somerset MRT stations and key destinations like the CBD and Changi Airport.

The launch comes as the ultra-luxury residential segment shows renewed momentum, with 17 homes priced at S$10m and above sold in Q1 2026, marking the highest quarterly sales volume since Q1 2025.