Industry News

Tribe Payments, a fintech company specialising in issuer and acquirer processing, has announced its membership with the Emerging Payments Association Asia (EPAA). This move comes as the company continues to expand its operations in the Asia-Pacific (APAC) region, following the establishment of its Singapore hub in 2024. The APAC payments market is projected to grow significantly, from $17.86t in 2026 to $33.08t by 2031, highlighting the region’s rapid digital payments evolution.

The EPAA serves as a collaborative platform for financial institutions, fintechs, and policymakers across APAC, aiming to foster the development of the region’s payments landscape. Tribe Payments’ membership will enable it to engage in discussions on issuing, acquiring, and evolving payments infrastructure within diverse APAC markets.

Matt Weir, General Manager for APAC at Tribe Payments, emphasised the importance of understanding local contexts in global operations. “Payments infrastructure develops differently in every market, shaped by regulation, technology adoption, and customer behaviour,” he stated. “EPAA brings together people with first-hand experience of those differences, making it a valuable forum for informed industry discussion.”

Camilla Bullock, CEO of EPAA, welcomed Tribe Payments, noting that its experience in issuer and acquirer processing would contribute valuable insights to the ongoing development of payments infrastructure in the region.

Tribe Payments, founded in 2018, supports banks and fintechs in launching and scaling payment programmes across complex regulatory environments. Its EPAA membership aligns with its strategy to deepen relationships with banks and fintechs across multiple APAC markets, each with unique regulatory frameworks and operational needs.

Deluge Corporation Pte. Ltd., a prominent fire detection and protection solutions provider, has successfully raised S$3.6m from a group of investors, including Alan Wang Yu Huei, Von Lee Yong Miang, and ICH Asset Management. This funding is set to enhance Deluge’s fire protection capabilities as the company gears up for significant infrastructure projects in Singapore and Malaysia.

The funds will primarily be allocated to expanding Deluge’s services, positioning the company to capitalise on the anticipated construction boom in the region. With Singapore’s construction demand projected to reach between S$47b and S$53b in 2026, Deluge aims to leverage its expertise to support key projects such as the Changi Airport Terminal 5 development and the Marina Bay Sands expansion.

Deluge’s Executive Chairman, Vincent Cheo, expressed confidence in the company’s strategic direction, stating, “The investor support for this fundraising exercise is a strong endorsement of Deluge’s vision to be the leading provider of mission-critical fire detection and protection solutions.”

The company, established in 1983, holds the Building and Construction Authority’s highest L6 grade certification, allowing it to tender for projects of unlimited contract value. This certification, coupled with a robust order book, provides Deluge with revenue visibility for the next three to five years.

As Deluge strengthens its capabilities, it also plans to expand within the Johor-Singapore Special Economic Zone, addressing the growing demand for residential fire protection system upgrades. This strategic move underscores Deluge’s commitment to safeguarding lives and ensuring the resilience of critical infrastructure in the region.

Singaporean investors are increasingly focusing on Tokyo’s residential property market, with interest doubling in Q1 2026, according to OrangeTee. The real estate agency noted a significant shift towards certified renovated homes in Tokyo, which offer ‘like-new’ interiors and corporate warranties. These properties, priced between JPY48m and JPY180m (approximately S$400,000 to S$1.5m), promise rental yields of 2.5% to 4%.

Steven Tan, Key Executive Officer of OrangeTee International, highlighted Tokyo’s appeal due to its familiarity and strong rental demand. “We are seeing increasing interest for completed or refurbished homes, reflecting strong interest in rental-ready properties, alongside long-term capital preservation,” he stated.

OrangeTee is responding to this demand by hosting its second Japan Property Day on 18 and 19 April 2026. The event will feature investment opportunities in central Tokyo locations such as Shinjuku, Kagurazaka, and Shirokane. It will also include expert-led sessions on the Japanese property market and a Chinese-language panel discussion on current buyer trends.

The event, in collaboration with Tokyu Livable, a prominent Japanese real estate firm, will offer one-on-one consultations for prospective investors. Registration is free and open to the public, underscoring the growing interest in Japan as a stable investment destination amidst global uncertainties.

SATS Ltd., a Singapore-based provider of air cargo and logistics solutions, is now supporting cargo operations for Jazeera Airways at King Fahd International Airport in Dammam, Saudi Arabia. This initiative follows the closure of Kuwait International Airport due to regional conflict, prompting Jazeera Airways to establish alternative air-land connections to Kuwait.

Jazeera Airways has launched dual bases at Dammam and Qaisumah–Hafar Al-Batin International Airport, enabling the airline to maintain its operations and connectivity. SATS operates a 60,000 square metre cargo facility in Dammam, handling shipments for Jazeera’s Airbus A320neo aircraft. The facility began operations on 26 March 2026, managing general cargo and perishables like frozen meats and vegetables, which are then transported overland to Kuwait.

The dual bases have allowed Jazeera Airways to scale up its operations significantly, offering 27 destinations, over 1,500 flights, 450,000 seats, and two million tonnes of cargo capacity through 15 May 2026. This expansion is part of Jazeera’s Project Baraka, aimed at supporting Kuwait’s logistics and community needs during the ongoing regional situation.

Bob Chi, CEO of SATS APAC Gateway Services, expressed the company’s commitment to maintaining vital air cargo connectivity into Kuwait. “We will leverage SATS’ global network across 27 countries to minimise disruptions,” he stated.

Jazeera Airways CEO Barathan Pasupathi highlighted the importance of the partnership with SATS, ensuring the uninterrupted flow of essential cargo and reinforcing a lifeline for the community and economy. SATS operates additional cargo facilities in Riyadh, Jeddah, and Oman, ready to support emergency supply movements to Gulf Cooperation Council countries.

Satair has successfully implemented the Swisslog AutoStore system at its Singapore facility, marking a significant advancement in its logistics capabilities across the Asia-Pacific region. This installation, announced on 13 April, is Satair’s third global automation deployment, following previous successes in Hamburg and Dulles. The system aims to harmonise and robotise logistics processes, enhancing efficiency and scalability.

The AutoStore system allows for high-density, goods-to-person automation, storing approximately 80% of small and medium-sized parts within a 1,000 m² area. This innovation promises faster, more consistent order processing and supports scalable 24/7 operations, offering improved reliability and flexibility, especially during peak demand periods. Steven Xie, Executive Vice President and Managing Director of Swisslog APeC, stated, “By combining Swisslog’s integration expertise with AutoStore’s high-density storage technology, we are enabling Satair to scale efficiently and stay ahead of growing regional demand.”

Supported by the Singapore Economic Development Board, this project reinforces Singapore’s status as a leading aerospace logistics hub. Andy Lee, Managing Director for Satair Asia-Pacific, highlighted the importance of this development, saying, “The inauguration of AutoStore in Singapore is a pivotal step in our transformative regional growth via technology.”

Swisslog continues to collaborate with Satair to expand its automation capabilities, ensuring the Singapore facility remains a benchmark for operational excellence in the region. This initiative aligns with Singapore’s ongoing efforts to advance digitalisation and build future-ready supply chain capabilities.

Singapore has achieved a significant milestone in digital government services, as revealed by Adobe’s 2025 Digital Government Index. The nation’s overall score increased to 65, marking a 4.7% improvement from the previous year and its third consecutive year of growth. This advancement is attributed to enhanced digital self-service and site performance, reflecting ongoing investments in accessibility and infrastructure.

The index introduces AI readiness as a new benchmark, highlighting Singapore’s leadership in Asia with a score of 65.5. This reflects the country’s strong trust, authority, and technical accessibility in an AI-enabled landscape. However, challenges remain in visibility across external AI-powered search and assistant platforms.

Despite these advancements, customer experience saw a 5.8% decline due to fragmented journeys and inconsistent design. “Progress is iterative, and digital success requires continuous refinement,” said John Mackenney, Director of Asia Pacific Digital Strategy Group at Adobe. The report underscores the need for ongoing improvements in user experience design and personalisation.

Personalisation emerges as a crucial factor in enhancing citizen journeys, with scores ranging from 37.5 to 68.8 across various ministries. Early-stage interactions like site search and service discovery show stronger capabilities.

The findings emphasise Singapore’s commitment to delivering seamless, citizen-centric digital experiences, positioning the public sector for future advancements in digital government services.

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.