Industry News

NTT DATA has launched its Software Defined Infrastructure (SDI) Services Agent, a new tool designed to help Singaporean organisations overcome infrastructure bottlenecks as they accelerate AI adoption. This innovation addresses challenges posed by fragmented and outdated IT systems, which are often exacerbated by siloed tools and multi-vendor complexities.

The SDI Services Agent offers a conversational interface that allows IT teams to interact with infrastructure using natural language. It unifies visibility and action across various environments, including networking, cybersecurity, and digital workplaces. This system shifts from reactive to proactive and autonomous operations, providing real-time visibility and AI-driven insights across complex, multivendor settings.

Chris Barnard, Vice President at IDC, highlighted the significance of this development, stating, “Traditional infrastructure services are increasingly out of step with the demands of an AI-driven enterprise. NTT DATA is differentiating itself through an innovative-first multivendor agentic service experience.”

The agent also incorporates sustainability insights, enabling organisations to optimise the environmental impact of their infrastructure. According to NTT DATA’s Global AI Report, 34.5% of AI leaders are investing in rebuilding core applications with embedded AI capabilities.

Dilip Kumar, Global Head of Infrastructure Solutions at NTT DATA, emphasised the strategic importance of the new service, saying, “Our agentic SDI Services enable enterprises to move beyond ‘lights on’ operations and turn infrastructure performance into measurable outcomes.”

This launch marks a significant evolution in NTT DATA’s offerings, promising to enhance resilience, reduce operational costs, and accelerate the time to value for IT teams managing large-scale infrastructure estates.

GDS Global Limited, a prominent provider of door and shutter solutions in Singapore and South East Asia, has been awarded a two-year maintenance contract by a town council in Singapore’s central region. This contract involves comprehensive services such as preventive maintenance, 24/7 emergency response, and safety compliance checks for door and shutter systems.

The new contract is expected to bolster GDS’s existing portfolio of maintenance agreements across both private and public sectors. This expansion will enhance the company’s long-term revenue streams and customer retention, offering opportunities for system upgrades and replacements. The contract further solidifies GDS’s position as a lifecycle solutions specialist in the industry.

GDS’s subsidiary, Gilderol Doors (S) Pte. Ltd., will execute the contract, leveraging over 40 years of engineering expertise. The company currently maintains thousands of door and shutter systems across various sectors, including public infrastructure, commercial buildings, and healthcare facilities.

Non-Executive Non-Independent Chairman Tang Hee Sung stated, “This new contract reflects our established strengths and track record in maintenance and servicing capabilities, backed by over 40 years of engineering expertise.” He added that the contract positions GDS to capture future opportunities in system upgrades and compliance-driven enhancements.

Whilst the contract is not expected to have a material financial impact for the financial year ending 30 September 2026, it underscores GDS’s commitment to providing reliable and efficient maintenance solutions across Singapore.

CapitaLand Investment (CLI), a prominent global real asset manager, has announced a total revenue of S$487m for the first quarter of 2026. The company reported a 10% year-on-year increase in fee-related revenue, reaching S$310m, bolstered by significant growth in its listed funds. During this period, CLI successfully raised approximately S$2.5b in equity across its listed and private funds, despite a challenging fundraising environment.

CLI’s strategic moves included S$6.9 billion in acquisitions, focusing on suburban and core retail, business park properties in Singapore, and strategic logistics assets in the US, Spain, and Singapore. Additionally, the company divested S$2.9b, including a commercial office in Singapore’s central business district and a suburban retail asset. CLI is also progressing towards a second C-REIT listing on the Shanghai Stock Exchange.

The company is expanding its capital-efficient private funds platform, securing a S$2.4b investment mandate to manage Income Insurance’s Singapore real estate portfolio. Furthermore, CLI achieved a final close with approximately S$400m in capital commitments for its APAC Credit Programme II, highlighting growing institutional interest in asset-backed real estate credit strategies.

The Ascott Limited, CLI’s lodging platform, continues its asset-light growth by signing around 1,800 units and opening over 2,250 units. The platform saw a 3% rise in RevPAU, driven by a 3 percentage point increase in occupancy. Ascott aims to open over 25 properties across Southeast Asia in the next year and is advancing AI transformation through strategic partnerships.

CLI remains committed to navigating the dynamic market environment with disciplined capital management, focusing on high-conviction themes in lodging, logistics, and real estate credit across resilient markets such as Singapore, Japan, and Australia.

GXS Group, comprising GXS Bank in Singapore and GXBank in Malaysia, has reported a significant financial upturn for the fiscal year ending 31 December 2025. The Group’s asset base tripled, and revenue doubled, driven by strategic expansions in retail and micro, small, and medium enterprises (MSMEs).

The Group’s total loans surged by 323% to S$1.03b, reflecting a diversified strategy across various segments. Despite a challenging interest rate environment, total deposits grew by 38% to S$2.3b, with an 84% increase in Net Interest Income. The Expected Credit Loss improved from 6.8% to 4.6%, attributed to enhanced credit modelling and a balanced mix of secured and unsecured assets.

Following the completion of its regional technology infrastructure in 2024, GXS Group managed to halve its cost-to-income ratio from 695% to 313%, maintaining flat operating expenses. This operational efficiency highlights the Group’s strategic focus on scaling its financial services.

In 2025, GXS Group expanded its Business Banking services to MSMEs, offering interest-bearing accounts and flexible credit lines. The acquisition of GXS Capital, formerly Validus Capital, marked a milestone as the first successful acquisition of a local fintech by a homegrown digital bank in Singapore. This move accelerated GXS Bank’s market reach, particularly in trade finance and working capital loans.

The Group’s regional expansion included a capital injection of over S$54m into GXBank in Malaysia and a minority stake in Indonesia’s Superbank, which successfully launched its IPO in December 2025. GXS Group’s efforts underscore its commitment to financial inclusion and innovation in Southeast Asia’s digital banking landscape.

HTX (Home Team Science and Technology Agency) and ST Engineering have signed a five-year Memorandum of Understanding (MoU) to develop a space technology programme aimed at bolstering Singapore’s public safety operations. Announced at the Milipol TechX Summit 2026, the collaboration will focus on leveraging space-based science and technology, including satellite missions, to improve observational and early-warning capabilities.

The programme will utilise satellites to detect and monitor hazardous gas plumes offshore, providing first responders with crucial lead time to react and mitigate incidents. Chan Tsan, Chief Executive of HTX, highlighted the potential of space technologies, stating, “This capability enables faster and more effective responses to save lives and safeguard public safety.”

Low Jin Phang, Chief Operating Officer for Defence & Public Security and President for Digital Systems at ST Engineering, emphasised the strategic importance of satellite missions in public safety. “We are applying our expertise in Earth observation satellites, geospatial services, and advanced digital technologies to jointly develop space-based capabilities that strengthen public safety outcomes,” he said.

This initiative builds on the existing partnership between HTX and ST Engineering, which has been instrumental in advancing innovation in critical science and technology areas for public safety in Singapore. A model of the new satellite under this MoU is currently on display at the MTX 2026 summit.

The collaboration underscores the commitment of both organisations to harnessing technology for real-world applications, aiming to make Singapore one of the safest places globally.

BlackRock has announced the launch of its ASEAN Systematic Active Equity Strategy under Singapore’s Equity Market Development Programme. Approved by the Monetary Authority of Singapore, the BF1 Advantage ASEAN Equity Fund will target both institutional and retail investors, focusing on capturing opportunities within the ASEAN equity universe, including both developed and emerging markets.

The fund employs a systematic, liquidity-aware approach, regularly rebalancing its portfolio to leverage new information from vast datasets. This strategy is designed to benefit from structural tailwinds such as resilient domestic demand and improving corporate fundamentals in ASEAN markets. Singapore is highlighted as a key gateway due to its market depth and liquidity.

Andrew Landman, Deputy Head of Asia Pacific for BlackRock, emphasised Singapore’s role as a critical capital markets hub, stating, “We welcome the opportunity to reaffirm our long-term commitment to supporting EQDP’s objectives in enhancing market liquidity, broadening investor participation, and attracting global capital to Singapore.”

The fund’s portfolio will typically hold 100-300 securities, with about half allocated to Singapore equities, focusing on small- and mid-cap companies. It also invests in other ASEAN markets like Malaysia, Thailand, Indonesia, and the Philippines. Filip Mena-Berlin, Senior Investment Strategist at BlackRock, noted, “The strategy differentiates itself through a systematic, liquidity-aware approach that harnesses large-scale data and machine learning techniques.”

This initiative builds on BlackRock’s $20b Pan-Asian SAE franchise and its broader $334b global SAE platform, supported by over 130 portfolio managers and researchers. The strategy is managed by Ryan Kim and Filip Mena-Berlin, combining local insights with BlackRock’s global capabilities.

Groz-Beckert, a leader in industrial machine needles and precision tools, has appointed MSQ Asia as its global creative agency of record. This decision follows a competitive pitch and coincides with Groz-Beckert’s strategic move to establish Singapore as its new global marketing hub. The partnership aims to enhance the company’s international brand presence and drive future growth.

MSQ Asia will spearhead the development of a new global campaign platform, integrating Groz-Beckert’s heritage with a forward-looking brand narrative. The campaign is set to launch globally in 2027. Kabilen Sornum, Vice President of Marketing & Digital for Asia Pacific at Groz-Beckert, stated, “MSQ demonstrated a strong strategic and creative approach, and we are excited to partner with them to shape the next phase of our brand globally.”

The collaboration marks a significant transition for Groz-Beckert, which previously worked with Publicis Group. Andy Edmonds, General Manager of MSQ Asia, expressed enthusiasm about the partnership, noting the opportunity to build a distinctive global creative platform that reflects Groz-Beckert’s precision and innovation.

The new campaign will focus on crafting a compelling global narrative that aligns Groz-Beckert’s technical expertise with a modern creative platform. Jason Braddy, Executive Creative Director at MSQ Asia, highlighted the potential of B2B brands like Groz-Beckert to tell compelling stories, emphasising the brand’s rich heritage and promising future.

The campaign development is underway, with plans to roll out across key markets starting in 2027.

Singapore has been ranked sixth globally in Savills’ Architecture and Engineering (A&E) Talent Index, highlighting its robust education system and established industry ecosystem. Despite this achievement, the city-state’s higher operating costs necessitate strategic workplace planning for firms aiming to attract and retain skilled talent.

The index places Singapore as the top-ranked location in the Asia Pacific region, alongside major hubs like Hong Kong and Tokyo. However, the cost of living remains a significant factor for companies considering Singapore as a base for their operations. According to a survey of Savills experts, 78% of respondents identified access to talent as the most crucial factor in shaping portfolio decisions, followed by real estate costs at 74% and the cost of talent at 61%.

Ashley Swan, Executive Director of Commercial & Industrial at Savills Singapore, noted, “As global uncertainties increase, Singapore’s stability, ease of operating, and strong talent base continue to make it an attractive location for architecture and engineering firms. However, rising occupancy and operating costs mean companies need to be more deliberate in how they plan and use their office space.”

Whilst Singapore remains a prime location for A&E talent, alternatives such as Dallas, Seattle, Oslo, and Helsinki are emerging as cost-effective options, offering high-quality talent at lower occupancy costs. This trend may lead firms to reassess their location strategies to balance talent access with operational efficiency. As the competition for space in top global cities intensifies, informed corporate real estate planning will play a crucial role in supporting business performance.

HTX (Home Team Science and Technology Agency) and NCS have signed a Memorandum of Understanding (MOU) at the Milipol TechX Summit 2026, establishing a Continuous Engineering Programme (CEP) framework. This initiative aims to enhance the operational systems of Singapore’s Home Team through long-term capability development.

The CEP framework builds on a five-year Master Agreement signed in July 2025, further strengthening the collaboration between HTX and NCS. The partnership will focus on five key technology areas: robotics, drones and unmanned aircraft, quantum-safe technologies, data architecture, and AI-enabled systems. These efforts are expected to accelerate the delivery of mission-ready capabilities for the Home Team.

Chan Tsan, Chief Executive of HTX, emphasised the importance of strong engineering partnerships in an evolving public safety landscape. “We are always working to empower the Home Team with operationally impactful science and technology capabilities,” he stated.

Sam Liew, CEO of NCS, highlighted the synergy between the two organisations. “This partnership brings together HTX’s operational expertise and NCS’ strengths in AI, data, cybersecurity, and quantum-safe technologies to deliver intelligent, mission-ready systems for Singapore’s public safety agencies,” he said. “Built for real-world operations, these systems strengthen frontline effectiveness and resilience.”

The collaboration between HTX and NCS is poised to significantly enhance the technological capabilities of Singapore’s public safety agencies, ensuring they remain at the forefront of innovation and operational readiness.

The Urban Redevelopment Authority has concluded the tender for a land parcel at Dunearn Road, with Winrich Investment and Metrobilt Construction emerging as the highest bidders. Their bid of S$532.999m, equivalent to S$1,625 per square foot per plot ratio (psf ppr), was 3.1% higher than the next highest bid from Frasers Property Phoenix, CSC Land Group, and Sekisui House. The site, which can accommodate approximately 330 residential units and 1,400 square metres of commercial space, attracted six bids in total.

This site is part of the long-term rejuvenation plan for Bukit Timah Turf City, following the first land parcel awarded in July 2025 at a rate of S$1,410 psf ppr. The current highest bid is 15.2% above the previous one, reflecting strong developer confidence in the area’s potential. Justin Quek, Deputy Group CEO of Realion (OrangeTee & ETC) Group, noted the site’s strategic location near Sixth Avenue MRT station and the upcoming Turf City station, as well as its proximity to reputable schools like Methodist Girls’ School and Raffles Girls’ Primary School.

The last major project in the vicinity, Fourth Avenue Residences, launched in 2019 and completed in 2022, has shown robust activity in both resale and rental markets. This suggests a pent-up demand for new developments in the area. As the Turf City estate evolves, future residents will benefit from a variety of amenities, including retail and dining options, and green spaces, enhancing the appeal of the new project.