Industry News

The Maritime and Port Authority of Singapore (MPA) and MSC Mediterranean Shipping Company have signed a Memorandum of Understanding (MOU) to enhance collaboration in maritime decarbonisation, digitalisation, innovation, and manpower development. The agreement was formalised on 25 May 2026 by the chief executives of both organisations.

The MOU signifies a shared commitment to fostering a sustainable and digital maritime sector, whilst also marking the 30th anniversary of MSC’s presence in Singapore. The partnership will explore new routes and services to improve connectivity and support the adoption of alternative marine fuels such as bio-LNG. Additionally, it aims to advance technologies for better vessel energy efficiency and operational performance.

In terms of digitalisation, MPA and MSC will work together to streamline vessel arrivals and port operations, thereby improving operational efficiency. On the manpower front, MSC will offer internship and scholarship opportunities through the Singapore Maritime Foundation’s Maritime Outreach Network (MaritimeONE), a platform designed to attract talent to the maritime industry.

Ang Wee Keong, Chief Executive of MPA, stated, “This partnership reflects the strong collaboration between MPA and MSC in driving sustainability and digitalisation in the maritime sector.” Soren Toft, CEO of MSC, added, “As we mark 30 years in Singapore, this MOU reinforces our long-term commitment to strengthening our presence here.”

The collaboration is expected to bolster Singapore’s position as a global maritime hub and align with the future priorities of global shipping.

Juspay, a payments technology company based in India, has announced its inclusion in the Mastercard Engage partner network as a certified Click to Pay partner. This move marks Juspay’s expansion into the Asian market, following a successful rollout in Brazil. The partnership aims to provide merchants in Singapore and the broader Asia-Pacific region with faster, more secure, and frictionless checkout experiences.

Juspay’s integration with Mastercard Engage introduces two key capabilities: biometric authentication with passkeys and card tokenisation. These features are designed to enhance security by enabling passwordless transactions and replacing sensitive card data with secure tokens, respectively. This aligns with Singapore’s efforts to strengthen consumer identity frameworks and reduce fraud risks amidst rising digital payment volumes.

Mark Ronayne, Juspay’s Associate Director – International, stated, “Joining the Mastercard Engage partner network is an important milestone as we scale Click to Pay globally. At Juspay, we’re focused on removing friction from the checkout experience whilst maintaining the highest standards of security.”

The partnership is expected to bolster Juspay’s position as a trusted payments partner for major enterprises and financial institutions worldwide. With over 300 million transactions processed daily, Juspay supports global brands such as Amazon, Google, and HSBC. The company’s recent Series D funding round, led by WestBridge Capital, valued Juspay at $1.2b, underscoring its significant impact in the payments technology sector.

Singapore’s stock market has seen a substantial rise in share buybacks, with 57 primary-listed companies repurchasing S$1.26b worth of shares in the first five months of 2026. This marks a notable increase from S$930m in the same period of 2025 and S$505m in 2024. The surge in buybacks is led by Straits Times Index (STI) stocks, which collectively accounted for S$1.20b of the total.

The increase in buybacks is attributed to companies seeking to enhance financial metrics such as Earnings per Share (EPS) and Return on Equity (ROE), as well as to deploy surplus capital effectively. The Accounting and Corporate Regulatory Authority (ACRA) notes that buybacks can also take advantage of perceived undervaluation and reduce overall capital costs.

Among non-STI stocks, CSE Global led the buyback activity in May, purchasing 2 million shares for S$3.2m. The company’s buybacks are used to hold treasury shares for transfer under the CSE Performance Share Plan. Other notable non-STI buybacks included Hong Fok Corporation and Food Empire Holdings.

Secondary stocks like Jardine Matheson and Hongkong Land were also active, repurchasing US$217m and US$98m worth of shares, respectively. These buybacks align with broader capital allocation strategies aimed at value creation.

As companies continue to utilise buybacks as a strategic tool, the trend is expected to influence market dynamics and shareholder confidence in the coming months.

SGX Catalist-listed Annica Holdings Limited and Scottish hydrogen systems integrator Logan Energy are set to participate in the Asia Pacific Green Hydrogen Conference & Exhibition 2026. This event, a significant gathering for the hydrogen industry, will provide a platform for both companies to demonstrate their advancements and contributions to green hydrogen technologies.

The conference, scheduled for 2026, aims to bring together industry leaders, innovators, and stakeholders to discuss the future of hydrogen as a sustainable energy source. Annica Holdings, known for its commitment to sustainable energy solutions, will collaborate with Logan Energy to highlight their joint efforts in advancing hydrogen technology.

Participation in such a prestigious event underscores Annica’s strategic focus on green energy and its potential impact on the Asia Pacific region. Logan Energy, with its expertise in hydrogen systems, will complement Annica’s initiatives by showcasing integrated solutions that could drive the adoption of hydrogen as a clean energy alternative.

This collaboration is expected to foster new partnerships and opportunities within the hydrogen sector, aligning with global efforts to transition towards more sustainable energy sources. As the world increasingly turns to green energy, the insights and innovations presented at the conference could play a crucial role in shaping the future of hydrogen technology in the region.

Circles.Life, Singapore’s leading telecommunications company, has launched a new brand campaign titled “Live Unhinged,” which celebrates the distinctive ways Singaporeans maximise value in their daily lives. This initiative marks a shift from the company’s traditional focus on price and data, aiming instead to deliver value beyond connectivity through offerings like CirclesAI and Circles Zerofy.

The “Live Unhinged” campaign acknowledges the evolving lifestyle of Singaporeans, who are increasingly juggling multiple passions and side hustles alongside their primary careers. The campaign introduces Circo, a new mascot representing the brand’s innovative and community-driven spirit. Circo will feature in various collaborations, including gaming events, sporting activities, and community-led initiatives across Singapore.

John Huang, Head of Growth at Circles.Life, stated, “The telco category has long been seen as highly commoditised, where brands compete primarily on price and data bundles. To drive meaningful growth, we have to go beyond promotions and rethink how we show up in people’s lives.”

The campaign also includes three key lifestyle offerings: CirclesAI, providing access to premium AI tools; Circles Zerofy, a cashback programme; and the Zerofy Cashback Card, offering 1% cashback on local and overseas spends. Priya Seevaratnam, Head of Brand & Creative, added, “With ‘Live Unhinged’ and the introduction of Circo, we’re evolving how Circles.Life connects with our audience.”

Circles.Life subscribers can access these features through the Circles.Life app, enhancing their digital lifestyle with AI-driven benefits.

Singapore’s electronics Purchasing Managers’ Index (PMI) rose by 0.2 points to 51.9 in May, marking its strongest performance since August 2018, according to UOB Global Economics and Markets Research. The overall PMI increased by 0.3 points to 51.0, indicating sustained growth driven by AI-related demand expected to continue through the second and third quarters of 2026.

The report highlights improvements in several sub-indices, including new orders, output, employment, and future business expectations, reflecting robust demand in the electronics sector. However, the rise in order backlogs and a decline in stocks of finished goods suggest that production is struggling to keep pace with demand. “Greater scope to enhance capacity utilisation should bode well for electronics manufacturing activity in the months ahead,” the report notes.

The ongoing Middle East conflict has impacted supply chains, contributing to a 0.3-point increase in the input prices sub-index, primarily due to rising energy and logistics costs. Additionally, the supplier deliveries sub-index fell by 0.4 points to 48.7, attributed to extended lead times amid persistent supply chain constraints.

The data underscores the need for Singapore’s electronics manufacturers to boost production capacity to meet the growing demand, whilst also navigating the challenges posed by global supply chain disruptions. As firms continue to draw down inventories, the sector’s ability to adapt will be crucial in maintaining its growth trajectory.

Vietjet has launched a major promotion, offering 12 million discounted tickets across its domestic and international routes. This sale celebrates the airline’s expansion, including new services from Hanoi to Almaty, Kazakhstan, and Prague, Czech Republic, starting 10 October 2026. Singapore travellers can benefit from Eco-class fares starting at S$86 one-way, inclusive of taxes and fees, on direct routes between Singapore and Vietnam.

The promotion, available for bookings until 8 June 2026, aims to enhance connectivity for Singapore travellers. Currently, Vietjet offers direct flights from Singapore to Ho Chi Minh City, Hanoi, Da Nang, and Phu Quoc, with Nha Trang joining the network on 11 December 2026. The airline’s expanding network allows travellers to connect through Hanoi to new destinations in Europe and Central Asia, offering more options for multi-destination journeys.

Promotional fares are valid for travel from 5 September 2026 to 31 March 2027, with blackout dates applicable. Additional offers include 15% off Deluxe fares on the new Hanoi–Prague and Hanoi–Almaty routes using the promo code HELLOVIETNAM. Vietjet’s Summer 2026 Sale also provides up to 30% off Deluxe fares and 20% off SkyBoss and Business fares with specific promo codes.

Vietjet’s growing network not only facilitates easy getaways to Vietnam but also serves as a gateway for broader adventures across Southeast Asia, Europe, and Central Asia. The airline’s expansion offers Singapore-based travellers more flexibility and opportunities to explore Vietnam’s vibrant cities and beyond.

PropNex Realty has announced the launch of a collective sale tender for a prime freehold property at 98–98E Upper East Coast Road, with a guide price of $14.128 million. The property has secured the necessary 80% majority consent from owners, paving the way for its sale. The guide price equates to approximately $1,068 per square foot per plot ratio for flat redevelopment, whilst the land rate for landed housing redevelopment is about $1,600 per square foot. Notably, no land betterment charge is applicable due to the site’s high development baseline.

The 820.3 square metre site is zoned for residential use with a plot ratio of 1.4 under the 2025 Master Plan. Subject to approval, it could be transformed into a five-storey flat development comprising 11 units, or alternatively, a pair of semi-detached and a detached house. The property’s 38-metre frontage facilitates these redevelopment options.

Located in the vibrant Siglap area, the property benefits from excellent accessibility and lifestyle amenities. It is within walking distance of Siglap MRT Station on the Thomson-East Coast Line, providing easy connectivity to the Central Business District and beyond. The East Coast Parkway offers seamless access to Changi Airport and other parts of Singapore. The area is also home to renowned schools and a variety of dining, retail, and entertainment options.

Tracy Goh, Head of Capital Markets at PropNex, expressed optimism about the property’s appeal, citing its freehold tenure and prime location. “We anticipate healthy interest in the Property from both landed housing and flat developers,” she said.

The tender will close on 30 June 2026 at 3pm.

Wilmar International Limited, founded and headquartered in Singapore, has announced a joint venture with Tropical General Investments Group to merge their operations in Nigeria and the Republic of Benin. The partnership, structured as a 50:50 joint venture, aims to create an integrated platform spanning agriculture, food manufacturing, and distribution, with a market size exceeding US$12b.

The collaboration will combine Wilmar’s expertise in palm oil and consumer goods with TGI Group’s established brands and distribution network. This strategic move is designed to address food production and distribution challenges in the region, leveraging both companies’ strengths to provide affordable consumer products across West Africa.

Kuok Khoon Hong, Chairman and CEO of Wilmar, highlighted the significance of the venture, stating, “Nigeria and the Republic of Benin are key consumer markets in Africa, supported by a population of more than 260 million.” He emphasised the potential of the combined businesses to contribute to the region’s long-term development.

Completion of the transaction is anticipated by the end of 2026, pending regulatory approvals. The joint venture will be managed by a Singapore-based holding company, equally owned by Wilmar and TGI Group.

TGI Group’s Founder, Cornelis G. Vink, expressed optimism about the partnership, noting that it will “leverage Wilmar’s global scale and expertise as well as TGI’s local knowledge to deliver innovative food solutions across Africa.” This venture marks a significant step in enhancing the food and agriculture sectors in West Africa, promising sustainable growth and value creation.

Mooreast Holdings Ltd., a Singapore Exchange (SGX) Catalist-listed company, has been appointed as the exclusive strategic partner for SeaTwirl AB in ASEAN. The collaboration, announced on 2 June 2026, involves Mooreast’s subsidiary, Mooreast Asia Pte. Ltd., entering a five-year agreement with the Swedish developer of floating vertical-axis wind turbine technology. This partnership aims to explore floating wind opportunities across the 11 ASEAN member states.

The agreement allows Mooreast to lead regional business development and represent SeaTwirl’s technology to various stakeholders, including developers and government bodies. Additionally, Mooreast will be SeaTwirl’s preferred manufacturing partner, utilising its fabrication capabilities for local production of SeaTwirl’s designs.

SeaTwirl, headquartered in Gothenburg, Sweden, and listed on the Nasdaq First North Growth Market, offers floating wind technology known for its cost efficiency and maintenance ease. Its turbines feature a low centre of gravity and accessible generator house, enabling maintenance with small, locally available vessels.

The collaboration extends beyond ASEAN, with potential projects in Japan, South Korea, and India. This partnership aligns with the growing demand for floating offshore wind solutions in the ASEAN region, driven by deep-water conditions and the need for cost-effective, locally manufactured systems.

Eirik Ellingsen, CEO of Mooreast, highlighted the importance of the ASEAN market for offshore renewable energy, stating, “Through this collaboration, we aim to combine our respective strengths to support the development of competitive floating wind solutions adapted for regional conditions.” Johan Sandberg, CEO of SeaTwirl, added, “Together, we believe we can create a strong foundation for future floating offshore wind projects in Southeast Asia.”