Industry News

Prysmian, a leading global cable solutions provider, is reinforcing its commitment to Asia Pacific as the region accelerates its energy transition and digital expansion. With a presence in Singapore for five decades, Prysmian is poised to support the region’s infrastructure needs, from power grids to digital networks, with advanced cable solutions.

The rapid growth of artificial intelligence (AI) data centres is reshaping global infrastructure demand, requiring higher power capacity and advanced digital connectivity. Prysmian is addressing these challenges by introducing a new power cable design in Southeast Asia. This innovation allows the delivery of the same power as conventional cables whilst using less copper and featuring a smaller diameter. The cable can safely operate at temperatures up to 110 degrees Celsius, compared to the industry norm of 90 degrees Celsius.

Key benefits of this new design include reduced copper usage, lower production costs, lighter weight for efficient transportation, and a smaller bending radius for easier installation. These features support sustainable infrastructure development, particularly in data centres and urban environments.

Prysmian’s global scale—107 plants, 27 R&D centres, and over 33,000 employees—enables it to support Asia Pacific’s infrastructure growth. The company aims for 55% of its revenue to come from sustainable products by 2028 and is committed to achieving Net Zero by 2035. Recognised for its sustainability efforts, Prysmian continues to invest in innovation and partnerships to support the region’s energy and digital transformation.

The latest JTC Quarterly Market Report for Q4 2025 reveals a 0.4 percentage point decline in the occupancy rate for all industrial spaces, settling at 88.7%. This decrease is attributed to strong completions, which increased the total industrial stock by 345,000 square metres, reversing the previous quarter’s decline. Over the entire year, the occupancy rate fell by 0.3 percentage points as completions outpaced the increase in occupied stock.

The rental index for industrial spaces showed a moderated growth of 0.5% in Q4 2025, contributing to a 2.4% rise for the year. This marks a slowdown compared to the 3.5% increase in 2024 and is the slowest annual growth since 2021. Meanwhile, the price index rose by 1.4% in the quarter and 5.0% for the year.

To meet industrial demand, the Government has increased land supply through the Industrial Government Land Sales (IGLS) programme. In 2025, 10 IGLS sites totalling 12.8 hectares were awarded, surpassing the five sites totalling 10.5 hectares in 2024.

Looking ahead, approximately 1.0 million square metres of new industrial space is expected to be completed in 2026, with an additional 1.6 million square metres anticipated in 2027. This compares to an average annual supply and demand of 0.8 million and 0.6 million square metres, respectively, over the past three years. JTC anticipates stable occupancy and continued moderation in rental rates, barring a significant economic downturn. The organisation will continue to monitor market conditions and support industrialists’ needs.

LG Electronics Singapore has partnered with Suntec Singapore International Convention & Exhibition Centre to launch The Big Picture Wall, one of Singapore’s largest digital display installations. This collaboration, announced on 28 January 2026, sees LG providing advanced LED screens along with comprehensive installation, system integration, and maintenance services.

The project underscores LG’s leadership in large-scale display solutions, enhancing the visual experience at one of Singapore’s premier event venues. By offering a one-stop solution—from supply and installation to ongoing support—LG demonstrates its technical expertise and operational excellence in managing complex projects. This initiative not only strengthens LG’s credibility in Singapore’s B2B market but also serves as a reference for future mega-installations.

Fabian Lee Kunho, Managing Director for LG Electronics Singapore, stated, “We are proud to partner with Suntec Singapore on The Big Picture Wall — a landmark that showcases LG Electronics Singapore’s leadership in large-scale LED solutions.”

Arun Madhok, CEO of Suntec Singapore, highlighted the enduring partnership with LG, noting, “Video content continues to be a key strategy for businesses to tell impactful brand stories, and our new Big Picture takes storytelling to the next level.”

As Singapore continues to grow as a global hub for events and conventions, the TBP Wall exemplifies how advanced technology can enhance venue experiences and engagement. LG’s involvement positions it at the forefront of delivering next-generation digital solutions for businesses and consumers alike.

William Blair Investment Management has announced the establishment of a new multi-asset trading desk in its Singapore office, aimed at bolstering its investment management and trading execution across Asia-Pacific markets. The firm has also appointed Steven McCole, a seasoned trader with over 20 years of experience in Asian markets, to lead the new initiative.

The new trading desk is set to provide dedicated regional coverage across various asset classes, enhancing execution capabilities, liquidity access, and real-time portfolio support for clients globally. This expansion underscores William Blair’s commitment to its global trading platform and its dedication to serving clients with increased efficiency and responsiveness.

Simon Johnstone, Partner and Head Trader at William Blair, stated, “Establishing a dedicated trading presence in Singapore allows us to more closely align our investment and trading activities with Asian market hours.” He added that the addition of McCole, who was previously Head of APAC trading at Martin Currie Investment Management, will enhance the firm’s ability to manage risk and support portfolio managers effectively.

The decision to open the trading desk in Singapore reflects the city’s status as a leading global financial centre and a gateway to Asia-Pacific capital markets. Lih-Yann Tan, CEO of William Blair International (Singapore), highlighted the firm’s long-term commitment to the region, noting that having experienced professionals on the ground strengthens their ability to deliver high-quality outcomes for clients.

This new development adds to William Blair’s existing trading capabilities in the US and London, further solidifying its global investment footprint.

Singapore’s HDB resale market in 2025 displayed a two-speed dynamic, with overall prices remaining flat in the fourth quarter, whilst million-dollar flats continued to rise, according to Huttons. The average price of these high-end flats increased by 2.3% in Q4 2025, setting new records, despite a 26.9% drop in transaction volume compared to the previous quarter.

Transaction volumes for HDB resale flats fell significantly, with 5,256 units sold in Q4 2025, marking a 27.2% decrease from the previous quarter and an 18.2% decline year-on-year. This represents the steepest quarterly drop since the circuit breaker in Q2 2020. Factors such as the year-end holidays, a major Build-to-Order (BTO) exercise in October, and new private project launches contributed to the slowdown.

Despite the overall market softness, million-dollar flats remained resilient. In 2025, a record 1,594 HDB resale flats were sold for at least a million dollars, a 54% increase from the previous year. The average price for these flats was $1.144m, up 2.1% from 2024. Notably, 35% of these transactions involved flats less than 10 years old, indicating a preference for newer properties.

Looking ahead, HDB plans to increase its BTO flat supply to 19,600 in 2026, potentially meeting rising demand. Additionally, the number of flats reaching their 5-year minimum occupation period is expected to increase, offering more options in the resale market and potentially leading to more million-dollar transactions, particularly in mature estates like Punggol, Queenstown, and Tampines.

Singapore Post Limited (SingPost) and SkyNet Worldwide Express have announced an exclusive strategic partnership to enhance eCommerce logistics in Singapore and the wider Asia Pacific region. Effective from 1 January 2026, SingPost will serve as the exclusive partner for SkyNet in Singapore, offering a comprehensive range of international express and eCommerce services to SkyNet’s global clientele.

This collaboration aims to provide SkyNet customers with improved connectivity and speed across the Asia Pacific. Central to this initiative is the use of SingPost’s Airmail Transit Centre as a customs-bonded transshipment hub, acting as a critical gateway for regional and global express and eCommerce flows. Customers will benefit from a single technology platform, enabling access to over 180 destinations globally, and advanced solutions like Delivered Duty Paid services to simplify international shipping.

Neo Su Yin, Chief Operating Officer of SingPost, stated, “This partnership is a significant step forward in enhancing our Express and eCommerce services. By combining our comprehensive delivery network with SkyNet’s global reach, we are delivering even greater value and convenience to all our clients in Asia Pacific.”

SkyNet’s Managing Director for Asia, Chaminda Gunasekera, added, “By joining forces exclusively with SingPost, we are plugging our international reach into a team that truly knows every corner of Singapore.”

The partnership leverages SkyNet’s vast international footprint, as the world’s fifth-largest courier and express network, with SingPost’s extensive local expertise and infrastructure. This synergy is expected to significantly improve regional logistics, offering faster and more efficient opportunities for express and eCommerce clients throughout the region.

Avestar Singapore Pte Ltd, a subsidiary of Avestar Capital, has appointed Zal Devitre as its new CEO. With more than two decades of international experience in wealth and asset management, Devitre’s career spans the US, Europe, Africa, and Asia. His appointment highlights a shift in Asia’s wealth management sector towards cross-border expertise and client alignment amid evolving regulatory and investment landscapes.

Devitre’s career began as a Peace Corps Volunteer in Cameroon, where he served as a Technical Adviser to a microfinance bank, focusing on financial inclusion and community development. He later held senior leadership roles at Citibank Singapore and Schroders, where he was Head of the Global Financial Client Group for Asia. Devitre holds a bachelor’s degree in international politics from Georgetown University and an MBA from Columbia Business School.

Shilpa Konduri, President of Avestar Capital, expressed enthusiasm about Devitre’s appointment, stating, “Zal’s appointment reinforces Avestar’s mission to provide holistic, conflict-free advisory to families worldwide.” Devitre himself commented, “Avestar Capital’s independence, integrity, and global mindset truly set it apart. I’m honoured to lead Avestar Singapore and look forward to delivering innovative client-centric solutions for families across Asia and beyond.”

Under the leadership of Founder and CEO Xerxes Soli Mullan, Avestar continues to expand its global presence, focusing on serving entrepreneurs, family offices, and next-generation wealth holders. This strategic move underscores the firm’s confidence in the region’s potential and its commitment to setting new benchmarks in independent, values-driven wealth advisory.

Singapore Airlines has announced adjustments to its flight schedules for the 2026 Northern Summer season, which runs from 29 March to 24 October. The airline will increase flight frequencies and passenger capacity on several routes to meet rising travel demand. Notably, Singapore Airlines will add a daily service to Bangkok, bringing the total to seven daily flights, and increase flights to Yangon to 10 times weekly.

The airline will also enhance its Singapore-Surabaya route to 21 weekly services and increase flights to Colombo from 10 weekly services to twice daily starting 1 May 2026. Additionally, the Airbus A380 will be deployed on the Singapore-Dubai route for the first time, responding to strong demand for premium cabins.

Dai Haoyu, Senior Vice President Marketing Planning at Singapore Airlines, stated, “Singapore Airlines continually reviews our route network to align capacity with customer demand. These adjustments provide customers with more travel options and improved connectivity across key markets, particularly during peak seasonal periods.”

Further changes include delinking the Singapore-Milan-Barcelona service to offer a direct five-times weekly service to Barcelona from 1 July to 3 September. The airline will also introduce its First Class cabin on the Singapore-Amsterdam route with the Boeing 777-300ER from 1 July.

These strategic adjustments are part of Singapore Airlines’ efforts to enhance connectivity and service offerings across its global network, ensuring passengers have more travel options during the busy summer season.

HitPay, a prominent payment platform for small-to-medium enterprises, has launched Borderless QR, a new software solution designed to streamline international payments for merchants across Southeast Asia. This innovation allows merchants to generate dynamic QR codes for international visitors, enabling payments through preferred home wallets like WeChat Pay and PromptPay, with next-day settlement in local currency.

The introduction of Borderless QR is significant as it addresses the complexities faced by Micro, Small, and Medium Enterprises (MSMEs) in navigating diverse international payment standards. By consolidating these into a single, user-friendly interface, HitPay empowers its network of over 20,000 merchants to offer a seamless shopping experience to tourists, who can pay in their home currency without additional fees.

Aditya Haripurkar, CEO of HitPay, stated, “Borderless QR is about supporting the region’s spirit of collaboration by providing a streamlined checkout flow. Merchants can simply select a customer’s home country to generate a specific QR with a real-time converted amount.”

The rollout is initially focused on Singapore, Malaysia, and the Philippines, with plans for rapid scalability. Early adopters, such as lifestyle retailer The Paper Bunny, have already embraced the solution, enhancing their ability to cater to the growing number of regional tourists.

As the Southeast Asian tourist economy is projected to reach $39.52b by 2026, HitPay’s Borderless QR positions local merchants to capture this burgeoning market effectively, ensuring they remain competitive in a connected digital economy.

Manulife Singapore has launched two new participating solutions, Signature Legacy Harvest and Manulife WealthGen, aimed at supporting high-net-worth and affluent families in preserving and transferring wealth across generations. These plans address the growing need for early breakeven, liquidity, and long-term wealth preservation amidst increasing global complexity.

Signature Legacy Harvest is a USD-denominated whole life plan designed for high-net-worth customers. It offers a Bonus Realisation option, allowing policyholders to withdraw bonuses from Year 5, and boasts one of the highest Day-1 surrender values at 85% of the single premium. This provides immediate liquidity whilst maintaining investment flexibility. Additionally, the Resilience Care Benefit enables up to 100% of the terminal bonus to be withdrawn upon diagnosis of specified conditions, offering financial support during critical health events.

Manulife WealthGen, an SGD-denominated plan, targets emerging and mass affluent customers seeking long-term growth and Supplementary Retirement Scheme optimisation. It promises one of the earliest guaranteed breakeven points in the market by the end of Policy Year 5.

Both solutions feature multi-generational flexibility, allowing policyholders to change the life insured, nominate a secondary life insured, and split the policy for future generations. “Signature Legacy Harvest is built to deliver security, flexibility, and seamless wealth transfer,” said Rena Lim, Head of High Net Worth and Financial Advisory at Manulife Singapore.

Frank O’Neill, Chief Product Officer, emphasised Manulife’s commitment to providing trusted solutions for wealth and legacy planning. With over 125 years of experience in Singapore, Manulife continues to be a leader in bespoke wealth strategies, ensuring resilience and sustainability for future generations.