Industry News

CapitaLand Investment Limited (CLI) has announced the final close of its CapitaLand Asia Pacific Credit Programme II (ACP II), securing US$320m (approximately S$403m) in equity commitments. This marks the second regional fund under CLI’s flagship real estate credit series, bolstering its funds under management by approximately US$600m (over S$750m).

The fund’s success comes amid tightening bank lending conditions and a rising demand for flexible capital solutions in the Asia Pacific (APAC) region. Real estate credit, backed by tangible collateral, offers downside protection and has seen increasing institutional interest. APAC fundraising reached US$11.2b between 2020 and 2024, a 40% increase over the previous five years.

Kishore Moorjani, CEO of Alternatives, Private Funds, highlighted the strategic focus of CLI on senior secured, asset-backed investments, stating, “The successful close of ACP II is testament to CLI’s position as a partner of choice in APAC.”

ACP II has attracted a diverse group of investors, including insurers, financial institutions, and family offices, with CLI maintaining a 20% sponsor commitment. Arjun Pandit, Managing Director of Private Funds (Credit), noted the strong investor confidence in CLI’s ability to manage real estate credit with discipline and consistency.

The fund is allocated to five first mortgage loans for logistics, office, and living assets in Sydney, Australia, and the Seoul Metropolitan Area in South Korea. CLI, alongside Wingate, has deployed over S$10b in credit investments across APAC, reinforcing its position as a leading real estate credit player in the region.

eFuels SEA, Ltd. has announced the launch of a new platform dedicated to developing electrofuel projects across Southeast Asia. Utilising Infinium’s ultra-low carbon eFuels technology, the company plans to establish commercial-scale production facilities to promote sustainable aviation fuel and other low-carbon products in the region.

Headquartered in Singapore, eFuels SEA will convert captured carbon dioxide and renewable power into drop-in sustainable aviation fuel (eSAF) and other ultra-low carbon products. The initiative is supported by a management team with expertise in energy markets, project finance, and industrial development, working alongside regional partners.

Infinium, a global leader in ultra-low carbon electrofuels, will licence its proprietary technology to eFuels SEA. This technology transforms renewable electricity, water, and waste carbon dioxide into high-value liquid fuels compatible with existing fuel supply infrastructure.

David Wang, Co-founder and CEO of eFuels SEA, stated, “By leveraging Infinium’s demonstrated technology, we are confident of delivering economic value add, enhancing energy security, and achieving climate impact in the region. We plan to work with local partners and community members to accelerate siting of these projects as a complement to local agendas for industrial development, manpower up-skilling, and net-zero commitments.”

The launch of eFuels SEA marks a significant step towards decarbonising transportation and industrial supply chains in Southeast Asia, aligning with regional goals for sustainable development and energy security.

NovogeneAIT Genomics has been appointed as the service provider for the PRECISE-SG100K proteomics project in Singapore. The company will process and generate data from 10,000 plasma samples, a collaboration led by Thermo Fisher Scientific and PRECISE, aimed at supporting precision medicine research.

The project will employ Thermo Fisher Scientific’s Orbitrap Astral mass spectrometry platform, alongside Seer’s Proteograph Product Suite and Olink’s Reveal Assay, to conduct deep proteomic profiling. This initiative seeks to uncover novel biomarkers and biological signatures linked to ageing and disease through high-throughput analysis.

John Zhang, Senior Commercial Director of NovogeneAIT, remarked, “Being appointed as the service lab for this landmark study represents a major leap forward in our capability to support large-scale proteomics research in Singapore.” He emphasised the collaboration’s potential to deliver actionable insights and contribute to Singapore’s National Precision Medicine Programme.

Prof. John Chambers, Chief Scientific Officer at PRECISE, noted the partnership’s significance, stating, “This collaboration further strengthens the PRECISE-SG100K dataset, through addition of mass spectroscopy based assessment of proteomic variation.” He highlighted its role in enhancing understanding of disease mechanisms and supporting future translational research.

The completion of this 10,000 sample pilot study is anticipated to serve as a proof of concept, demonstrating the potential of large-scale proteomics in advancing medical research.

Savills Singapore has announced the sale of a rare portfolio of three fully leased office floors at Suntec Tower 1 and Tower 2. This opportunity offers investors immediate income visibility and a yield exceeding 4%. The portfolio includes Level 27 in Tower 1 and Levels 12 and 13 in Tower 2, with five individual strata titles ranging from 3,498 to 14,273 square feet, totalling approximately 40,300 square feet.

Suntec City, a prominent integrated development, features five Grade A office towers, a large retail mall, and a convention centre. Recent enhancements in 2022 have bolstered its status as a prime office location within the Marina Centre precinct. The development offers excellent connectivity to City Hall, Promenade, and Esplanade MRT stations, and is accessible via major expressways.

Yap Hui Yee, Executive Director of Investment Sales & Capital Markets at Savills Singapore, stated, “Fully leased strata office floors with stable income streams remain highly sought after, particularly among investors seeking yield visibility and flexibility in ownership.”

The guide price for the portfolio is S$135m, translating to an average of approximately S$3,350 per square foot. Recent transactions at Suntec City have shown strong buyer interest, with prices ranging from S$3,200 to S$3,897 per square foot.

The sale is open to both foreigners and companies, with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty applicable. The sale will be conducted through an Expression of Interest exercise, closing on 15 May 2026.

Oceanus Group Limited, a Singapore Exchange (SGX)-listed food security platform, and HashKey Group, a leading digital asset financial services provider, have announced a strategic partnership to revolutionise global trade finance through stablecoin settlements. The collaboration, formalised on 9 April 2026, seeks to address the $2.5t global trade finance gap, which significantly impacts small-to-medium enterprises.

The partnership will be executed through Oceanus’s technology subsidiary, Oceanus Digital Intelligence Network (ODIN), and HashKey Technology Services. By integrating ODIN’s artificial intelligence-driven trade finance platform with HashKey’s regulated settlement infrastructure, the two companies aim to create a pioneering “operating system” for Asian trade corridors.

Adrian Teo, CEO of ODIN, highlighted the strategic alignment, stating, “Oceanus has always been about securing the future of food. By partnering with HashKey, we are securing the future of how that food is traded.” Jason Tay, Managing Director of HashKey Technology Services, added, “We are providing the regulated infrastructure necessary for stablecoin capital to flow into real-world trade.”

Oceanus, originally an abalone farming business, has transformed into a global food security leader. The company is now leveraging Web3 technologies to facilitate trade, allowing even traditional trading companies to settle transactions faster and more securely using stablecoins. This partnership marks a significant step in enhancing financial inclusion and security across Asian trade corridors.

International Workplace Group (IWG), the world’s largest hybrid workplace platform, has announced a significant expansion in 2025, adding 1,132 new locations globally. This expansion reflects the growing demand for flexible workspaces, with Asia Pacific contributing over 20% of the new centre signings, totalling 254 locations.

The surge in flexible workspace demand is driven by businesses seeking cost-effective solutions amidst geopolitical uncertainties. IWG’s strategy focuses on managed partnership agreements, allowing the company to convert various buildings into successful operations without heavy capital investment. This approach aligns with the increasing preference for hybrid working models, as traditional long-term office leases face declining interest.

In Singapore, flexible work arrangements are becoming essential, with 76% of employees now having access to such options. This shift is supported by recent policy discussions emphasising inclusive workplaces and flexible work support. IWG is capitalising on this trend by expanding its presence in Singapore’s heartlands, including areas like Tampines, Balestier, Paya Lebar, and Novena.

Mark Dixon, IWG’s Founder and CEO, highlighted the record year for revenue and network expansion, stating, “2025 was a record year for both revenue and network expansion, reaching record revenue and experiencing our strongest network expansion to date.” With over 5,000 locations in more than 120 countries, IWG continues to lead the hybrid working sector, which is projected to grow by 600% by 2030.

The Institute of Singapore Chartered Accountants (ISCA) Academy has unveiled a hands-on artificial intelligence (AI) training programme across ASEAN, aimed at addressing the region’s skills gap in finance and accounting. This initiative, launched on 9 April 2026, equips professionals with practical AI capabilities, such as automating Excel workflows and deploying AI agents, to enhance productivity.

Developed in collaboration with Singapore-based AI training specialist Skybots, the programme focuses on real-world applications using tools like Microsoft Copilot. It aims to deliver immediate productivity gains, with participants able to replicate outputs directly in their roles. The programme will initially target 2,500 finance professionals across key ASEAN markets, including Malaysia, Vietnam, Indonesia, Thailand, and the Philippines.

Cyndi Pei, Chairperson of ISCA Academy, emphasised the programme’s strategic importance, stating, “The window for treating AI as a theoretical topic is closing. Finance professionals across ASEAN are now expected to apply AI in their daily work—safely, effectively, and immediately.”

Unlike traditional AI courses, ISCA Academy’s programme is task-based, allowing participants to work on scenarios like financial analysis and workflow automation. Early pilot sessions have shown significant time savings, with tasks completed in minutes rather than hours. The programme also stresses responsible AI use, embedding ethics and compliance considerations into every module.

Skybots’ Founder, Daryl Aw, highlighted the programme’s accessibility, noting that it requires no coding knowledge or significant investment. The initiative reflects a broader shift in ASEAN, where AI adoption is expanding into core business functions, enabling professionals to generate real value from AI from day one.

CapitaLand Investment (CLI) has released a new research report titled ‘Tracking AI’s Impact on Offices and Business Parks in APAC’, highlighting how artificial intelligence (AI) is altering occupier demand for office and business park spaces in Singapore, India, and China. The report reveals a shift towards high-specification, infrastructure-ready assets, driven by AI’s influence on workspace requirements.

The report identifies a significant “flight to quality” trend, where occupiers are increasingly selective, prioritising spaces that meet AI-driven needs. This shift is prompting investors to focus on assets with enduring demand visibility, whilst also exploring value-add opportunities through asset repositioning. CLI’s findings suggest that AI is not reducing overall demand but redistributing it, creating a divergence between high-quality and commoditised spaces.

According to the report, AI is transforming workspaces into platforms for decision-making and innovation, rather than just sites for routine tasks. This evolution is particularly evident in markets with substantial supply pipelines, where commoditised spaces face structural challenges. CLI notes that tenant requirements now emphasise infrastructure readiness and the ability to support data-intensive workflows.

In Singapore, the demand for premium, strategically located offices is rising, driven by both AI-native firms and traditional sectors integrating AI into their operations. The city-state’s strong AI infrastructure and skilled workforce make it an attractive hub for global AI leaders and start-ups. As AI adoption continues to grow, Singapore is well-positioned to accommodate these demand shifts, reinforcing its status as a high-quality office hub in the Asia-Pacific region.

Digital Realty, the world’s largest cloud- and carrier-neutral data centre platform, has announced a nearly S$7b investment target in Singapore. This move aims to solidify Singapore’s position as a key hub for artificial intelligence (AI) infrastructure in the Asia Pacific region. The investment includes more than S$4.3b earmarked for new data centre developments and ongoing projects.

The company plans to expand its local workforce to 400 by 2030, reflecting the growing demand for secure, connected infrastructure as enterprises transition from AI experimentation to production. Serene Nah, Managing Director and Head of Asia Pacific at Digital Realty, stated, “This S$7b investment target demonstrates our confidence in Singapore’s role as the region’s AI infrastructure anchor.”

Digital Realty has nearly doubled its Singapore workforce over the past three years, with 90% being Singapore nationals. The company relocated its Asia Pacific regional office to IOI Central Boulevard in July 2025, with further expansion anticipated in 2026.

In addition to workforce growth, Digital Realty is enhancing Singapore’s digital ecosystem through operational and innovation capabilities. The company operates a Global Command Centre in Singapore and plans to launch the Digital Realty Innovation Lab (DRIL) in the second half of 2026. This facility will support the development and testing of AI and hybrid cloud solutions.

Digital Realty’s investment underscores Singapore’s strategic importance for AI deployment, particularly for inference workloads that require low-latency infrastructure. The company’s PlatformDIGITAL® offers secure data centre environments and robust connectivity, supporting organisations as they scale AI deployments.

With this significant investment, Digital Realty is poised to support Singapore’s evolution as a leading AI infrastructure hub, enabling the next wave of enterprise AI deployment across the region.

FedEx has announced the winners of its 2026 Small Business Grant Contest for the Asia Pacific region, recognising innovative startups with global potential. Singapore-based Venti Technologies emerged as the overall winner, securing a US$30,000 grant for its development of Physical AI-powered autonomous vehicle solutions tailored for logistics environments such as ports and warehouses.

In addition to Venti Technologies, three other companies received Special Mentions, each awarded US$13,000. These include Aether Fuels from Singapore, which converts waste carbon into sustainable aviation and marine fuels; Linkerbot from China, known for its dexterous robotic hands for industrial and humanoid applications; and Sicona Battery Technologies from Australia, which commercialises silicon carbon anode materials for lithium-ion batteries.

The contest, now in its fifth year in Asia Pacific, is held in collaboration with Forbes Asia and draws from the Forbes Asia 100 to Watch list. Winners are selected based on their innovation, scalability, and international competitiveness. Salil Chari, president of Asia Pacific at FedEx, highlighted the significance of the contest, stating, “The entrepreneurs recognised this year reflect the extraordinary pace of innovation across Asia Pacific.”

Launched in the US in 2012, the FedEx Small Business Grant Contest now spans 31 international markets, including Asia Pacific, Europe, and Latin America. The initiative underscores FedEx’s commitment to supporting emerging businesses through funding and enabling efficient supply chains and logistics solutions.