Industry News

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.

HEC Group has inaugurated its first overseas flagship store at Marina Bay Sands, Singapore, marking a pivotal step in its global expansion strategy. Opened on 9 June 2026, the store aims to make premium Cordyceps wellness solutions more accessible worldwide.

Situated in one of Asia’s top luxury destinations, the HEC Life+ flagship store is more than just a retail space. It offers an immersive experience designed to educate consumers about Cordyceps sinensis products, which have been developed through nearly two decades of scientific research and innovation. The store showcases a range of these products, highlighting the company’s commitment to science-backed wellness.

The opening of the store was celebrated with a traditional lion dance performance, symbolising good fortune and success. This new venture underscores HEC Group’s dedication to expanding its reach and making its wellness solutions available to a broader audience.

The flagship store is expected to serve as a model for future international expansions, reinforcing HEC Group’s mission to integrate wellness and innovation. As the company continues to grow, it aims to further its impact in the wellness industry by providing scientifically validated products to consumers around the globe.

A recent study by Great Eastern has highlighted a significant preference among Singaporeans for home-based care for long-term needs, yet many underestimate the financial and emotional burdens involved. The study reveals that respondents misjudged the cost of home-based long-term care by approximately 32%, indicating a gap between public perception and the realities of caregiving in Singapore.

The research also found that nearly half of caregivers have been providing care for at least three years, with over a quarter doing so for five years or more. This prolonged caregiving period underscores the sustained demands placed on individuals and families.

In response to these findings, Great Eastern plans to launch a one-stop home caregiving concierge in July 2026. This service will be available to all GREAT CareShield policyholders and their families, offering access to home-based disability assessments and preferential rates on caregiving products and services.

The study, conducted in partnership with NielsenIQ, involved qualitative interviews and quantitative surveys with 1,000 Singapore residents aged 30 to 64. It aimed to assess consumer concerns, priorities, and attitudes towards disability and long-term care.

As Singapore approaches super-aged status, the need for comprehensive long-term care planning becomes increasingly urgent. Great Eastern’s initiative aims to bridge the gap between awareness and action, providing practical support for those navigating the complexities of long-term care.

The Urban Redevelopment Authority (URA) has closed the tender for a land parcel at Peck Hay Road, with CDL Constellation Pte. Ltd. and Garden Estates (Pte.) Limited securing the highest bid at S$542.4m, or approximately S$1,865 per square foot per plot ratio (psf ppr). This bid was 8.4% higher than the next highest offer from SMCL Haven 3 Pte. Ltd. and CSC Land Group (Singapore) Pte. Ltd., amidst a total of four bids submitted.

The Peck Hay Road site, capable of yielding around 315 residential units, is part of the second phase of the Newton area’s urban transformation. Justin Quek, Deputy Group CEO of Realion (OrangeTee & ETC) Group, noted the site’s prime location near the Newton MRT interchange and proximity to primary schools and the Orchard Road shopping belt as key attractions. “New amenities, mixed-use developments, and green spaces will enhance the area,” he added.

The strong interest in the tender reflects confidence in Singapore’s property market as a stable investment amidst global uncertainties. Recent launches in the Core Central Region (CCR), such as Newport Residences and River Modern, have seen robust sales, indicating sustained demand for city homes. This trend has reduced unsold inventory in the CCR to 900 units, compared to 1,569 in the Rest of Central Region (RCR) and 1,312 in the Outside Central Region (OCR).

As the Newton neighbourhood undergoes transformation, developers are likely to continue targeting land parcels in this area, leveraging existing amenities and transport networks to attract future residents.

Singapore’s small and medium-sized enterprises (SMEs) are displaying the lowest confidence globally in international expansion, according to Kreston Global’s latest Interpreneur Report. Despite scoring 7.2 out of 10, compared to a global average of 8.2, 66% of Singaporean business leaders remain optimistic about a more favourable environment for international growth in the next two to three years.

The report, based on a survey of 1,100 international entrepreneurs across 11 countries, highlights the challenges faced by mid-market businesses in navigating global expansion. Helmi Talib, Managing Partner at Kreston Helmi Talib, Singapore, noted that Singapore’s reliance on trade makes it vulnerable to global headwinds such as geopolitical tensions and supply chain disruptions. “Whilst ambition remains strong in Singapore, we are seeing a more cautious, selective approach to international expansion,” Talib stated.

Key threats identified by Singaporean interpreneurs include geopolitical instability (52%), supply chain disruption (43%), and tariff-related cost increases (42%). Despite these challenges, Singapore’s SMEs prioritise economic growth prospects, favourable tax policies, and access to skills and talent when considering international expansion.

The report also reveals a pragmatic approach towards technology and AI, with 97% acknowledging its impact on expansion strategies. However, Singaporean businesses are more likely to view AI’s impact as moderate or minor compared to their global counterparts.

Liza Robbins, CEO of Kreston Global, emphasised the resilience and adaptability of interpreneurs amidst these challenges, highlighting the importance of internal alignment and readiness to seize future opportunities.

DKSH Business Unit Healthcare has announced a strategic distribution partnership with BridgeBio, a biotechnology company specialising in genetic diseases. This collaboration aims to facilitate the regulatory evaluation and potential patient access to a transthyretin stabiliser for transthyretin-mediated amyloidosis (ATTR-CM) across Australia, Singapore, South Korea, and Taiwan. The partnership combines BridgeBio’s biotech innovation with DKSH’s comprehensive commercialisation platform.

The transthyretin stabiliser is intended for treating cardiomyopathy in adults with wild-type or variant ATTR-CM, a progressive disease that significantly impacts quality of life and can lead to premature death. Currently, the treatment is not approved in the regions covered by the agreement, and its commercialisation will depend on obtaining necessary regulatory approvals.

DKSH will leverage its expertise in regulatory affairs, medical affairs, market access, and distribution to support the introduction of this treatment. Patrik Grande, Global Head of Business Unit Healthcare at DKSH, stated, “Our strategic partnership with BridgeBio represents an important milestone as DKSH Healthcare enters a new chapter with a renewed vision for growth.”

With over 160 years of experience, DKSH is a leading provider of Market Expansion Services, operating in 35 markets with a workforce of 26,840 specialists. In 2025, DKSH’s Business Unit Healthcare generated net sales of CHF 5.8 billion, distributing pharmaceuticals, consumer health products, and medical devices. This partnership marks a significant step in expanding access to innovative treatments in the Asia-Pacific region.

Lenovo Singapore has announced a partnership with football legend Fandi Ahmad as its brand ambassador for the FIFA World Cup 2026™. The collaboration aims to merge football, technology, and youth culture through various initiatives, including immersive fan experiences and an AI-powered coaching programme.

The partnership will see Fandi Ahmad participate in Lenovo’s marketing campaigns and community events, such as the launch of the Re:Match Experience Store at *SCAPE and a meet-and-greet session at The Kickback. Fandi will also anchor the Lenovo AI Foundry sports pilot, a year-long collaboration with the Institute of Technical Education (ITE) to develop junior football coaches using motion-capture and AI technology.

Nigel Lee, General Manager of Lenovo Singapore, expressed enthusiasm for the partnership, stating, “Fandi Ahmad embodies the spirit of resilience and growth that Lenovo stands for. This collaboration reflects our commitment to empowering Singapore’s sports development ecosystem.”

From 11 June to 20 July, Lenovo will host interactive fan engagement activities at CHIJMES and Capitol Singapore, featuring an AI Photobooth and live match screenings. Fans can transform into digital footballer avatars and participate in the “Spend & Score” campaign for a chance to win tech prizes, including a Lenovo Yoga Slim 7i Ultra FIFA World Cup 26™ Edition laptop.

The initiatives highlight Lenovo’s dedication to leveraging technology to enhance the fan experience and support the development of future football talent in Singapore.

FairPrice Group has announced the launch of its third wave of Return Vouchers for 2026, offering customers a $6 voucher for every $60 spent using CDC or SG60 supermarket vouchers. This initiative, running from 11 to 17 June 2026, aims to help Singaporeans manage daily expenses amidst rising inflation.

The vouchers can be redeemed from the day after issuance until 31 July 2026, with no minimum spend required. This move is part of FairPrice Group’s broader strategy to provide deeper savings on groceries, complementing the government’s CDC Voucher rollout.

Group CEO Vipul Chawla stated, “This latest wave of FairPrice Return Vouchers is our way of helping Singaporeans stretch their dollar even further, when and where it matters the most.” He highlighted that everyday expenses remain a significant concern for families, especially given the current economic pressures.

In addition to the Return Vouchers, FairPrice Group has implemented several measures since the start of 2026 to keep essentials affordable. These include a price freeze on over 500 daily essentials until the end of August, a 12-week BestSellers for Less campaign, and increased discounts for CHAS Blue and Orange cardholders.

FairPrice Group, established in 2019, continues to optimise resources across its entities to make daily essentials accessible for all Singaporeans. With over 570 touchpoints, it offers a wide range of products and services, ensuring affordability and convenience for its customers.