Industry News

Aspire has announced a strategic partnership with J.P. Morgan Payments to enhance foreign exchange (FX) capabilities for businesses operating internationally. This collaboration allows Aspire customers to access institutional-grade FX pricing and infrastructure across major currencies, including USD, EUR, GBP, SGD, and HKD.

The partnership aims to address the challenges faced by startups and businesses in currency conversion, which often leads to delayed payments and unpredictable costs. J.P. Morgan Payments will serve as a key FX provider to Aspire, enhancing pricing, corridor access, and infrastructure resilience.

Aspire’s CEO and Co-Founder, Andrea Baronchelli, stated, “As Aspire scales, our focus remains clear: delivering powerful banking infrastructure and simplified finances for globally ambitious companies. This collaboration with J.P. Morgan Payments further strengthens our FX strategy.”

Christine Tan, APAC Head of FIG Sales at J.P. Morgan Payments, added, “Collaborating with Aspire reflects a shared commitment to delivering reliable, secure, and scalable financial infrastructure for businesses operating across borders.”

The initial phase of the agreement focuses on FX-to-wallet conversion across multiple currencies, enabling Aspire customers to convert and manage funds within their Aspire wallets. This development comes as Aspire expands its global infrastructure, having secured eight licences and registrations across Australia, Europe, and the United States over the past year.

Aspire, headquartered in Singapore, serves over 50,000 businesses across more than 30 markets. The company is backed by investors such as Peak XV, Lightspeed, Y Combinator, and PayPal.

Cushman & Wakefield has successfully brokered the sale of Swing By @ Thomson Plaza, a prime suburban retail asset, for $250m. This significant transaction highlights the continued demand for strategic retail properties in suburban areas.

Located in Singapore, Swing By @ Thomson Plaza is a well-established retail destination known for its diverse range of shops and services. The sale underscores the asset’s value and potential for future growth in a competitive market. The transaction was facilitated by Cushman & Wakefield, a leading global real estate services firm, known for its expertise in brokering high-value property deals.

The sale of Swing By @ Thomson Plaza is a testament to the robust interest in suburban retail assets, which continue to attract investors seeking stable returns. The property’s strategic location and established tenant mix make it a valuable addition to any investment portfolio.

Cushman & Wakefield’s involvement in this transaction further cements its reputation as a key player in the real estate market, capable of navigating complex deals and delivering results for its clients. The firm’s role in brokering this sale highlights its ability to connect buyers and sellers in the competitive retail property sector.

As the market for suburban retail assets remains strong, this transaction may signal further opportunities for investors looking to capitalise on the demand for well-located retail properties.

Nestlé and Nanyang Technological University, Singapore (NTU Singapore) have announced a multi-year research partnership to investigate how nutrition can support healthy ageing and women’s health. This collaboration combines Nestlé’s global research capabilities with NTU’s scientific expertise to explore the impact of diet and lifestyle on biological ageing processes.

The partnership will focus on identifying nutritional solutions to address health concerns such as metabolic health, mobility, sleep, and menopause. A joint research lab will be established in Singapore to facilitate data analysis and clinical studies. The research will leverage data from the Health for Life in Singapore (HELIOS) Study, a national population cohort led by NTU’s Lee Kong Chian School of Medicine in collaboration with NHG Health and Imperial College London.

Ryan Carvalho, Head of Nestlé Research, highlighted the importance of nutrition in maintaining long-term health, stating, “Through this partnership with NTU, we will be able to strengthen the growing body of scientific evidence on how nutrition can contribute to healthy longevity, particularly through midlife and beyond, including the menopausal transition.”

The initiative is supported by the Singapore Economic Development Board, emphasising its significance for the region’s ageing population. Melissa Guan, Vice President and Head of Consumer at EDB, remarked, “This partnership reflects Singapore’s research and innovation capabilities whilst providing good opportunities for Singaporeans to be involved in shaping healthy ageing initiatives.”

With the global population ageing rapidly, particularly in Asia, this research aims to close the health span gap, ensuring that people not only live longer but also maintain a high quality of life.

Thakral Corporation Ltd has announced that ICH Synergrowth Fund and Lion Global Investors have acquired a S$4.26m stake the company. The acquisition, made through the sale of 2,367,500 treasury shares at S$1.80 per share, represents a 1.89% shareholding in Thakral. This transaction introduces institutional investors to Thakral’s shareholder base, marking a significant milestone in the Group’s capital markets journey.

The investment reflects institutional confidence in Thakral’s long-term growth strategy across its Lifestyle and Investment segments. Lion Global Investors, an MAS-appointed fund manager under the Equity Market Development Programme, and ICH Synergrowth Fund have shown their support for Thakral’s strategic direction. The proceeds from this transaction will be used for working capital purposes, advancing growth initiatives in Thakral’s key business areas.

Vincent Toe, Partner at ICH, highlighted the potential in Singapore’s small and mid-cap segment, stating, “Thakral has built a strong operating track record and continues to execute on its growth strategy across its key businesses.” Inderbethal Singh Thakral, CEO of Thakral, expressed optimism about the new partnership, saying, “Their confidence reinforces the strength of our fundamentals and the opportunities ahead.”

Thakral Corporation, listed on the SGX Mainboard since 1995, has a diverse investment portfolio spanning Australia, Japan, and Singapore. The Group is involved in lifestyle resorts, commercial buildings, and the distribution of leading brands and technology products across Asia.

FairPrice Group (FPG) has announced a price freeze on 100 essential items from 9 April to 31 May 2026, in response to global energy disruptions and supply chain issues. The initiative aims to support Singaporeans during these uncertain times by keeping daily necessities affordable.

The frozen prices cover a range of staples, including rice, oil, eggs, fresh and frozen chicken, and milk. Additionally, FPG will double the discounts for Community Health Assist Scheme (CHAS) Blue and Orange cardholders from three to six per cent during the same period. This support will be funded by the FairPrice Foundation.

Group CEO Vipul Chawla emphasised the importance of these measures, stating, “Food and groceries make up over 20 per cent of the average household budget; and even more for lower-income families. Through our price freeze and doubled weekly CHAS discounts, we are stepping up to help Singaporean households navigate these uncertain times.”

The initiative is part of FPG’s broader commitment to assist vulnerable communities. Secretary-General of NTUC, Ng Chee Meng, highlighted the social mission, saying, “No worker or family should face rising cost pressures alone.”

In addition to the price freeze, FPG has rolled out several initiatives in 2026, including discounts on housebrand essentials and the distribution of care packs and refreshments during festive seasons. These efforts are part of FPG’s ongoing strategy to alleviate financial pressures on Singaporeans amidst inflation risks.

Bank of Singapore has announced the appointment of Vi Sun Yang as Head of Private Banking, ASEAN, effective 29 June 2026. Yang, an industry veteran with over 30 years of experience, will lead the strategic growth of the bank’s largest market, reporting to CEO Jason Moo. Her role aligns with OCBC’s corporate strategy, The Next Frontier, which focuses on capturing rising Asian wealth flows.

Yang’s extensive background includes leadership roles at Julius Baer and UBS Singapore, where she managed high-net-worth and ultra-high-net-worth teams across Southeast Asia. Her appointment is part of a series of strategic hires by Bank of Singapore, which recently surpassed its 2023 target of $145b in assets under management, growing its global AUM by over 20% in 2025.

Jason Moo expressed confidence in Yang’s ability to drive the bank’s growth in ASEAN, stating, “Our continued ability to attract top talent like her underscores the strong appeal of our franchise.” Yang’s appointment follows recent leadership additions, including Eng Chien Chan as Market Group Head for Greater China and Bernard Heng as Head of Customised Solutions.

Yang holds a Bachelor of Business Administration from the National University of Singapore and advanced degrees in wealth management and finance from the University of Rochester and the University of Bern, respectively. Her leadership is expected to further enhance Bank of Singapore’s capabilities in serving the wealth management needs of clients across the ASEAN region.

Motul has announced a global commercial partnership with bimota, the renowned Italian motorcycle manufacturer, marking a significant expansion in their collaboration. Under this agreement, Motul will serve as the official fluids supplier for bimota, providing the first fill for all models and being recommended within bimota’s distribution and after-sales network worldwide.

This partnership builds on Motul’s existing collaboration with Kawasaki, initiated in 2014, and extends beyond the racetrack. Motul will support bimota’s Superbike World Championship Team with high-performance products and technology. Carlo Savoca, Chief Marketing Officer of Motul Asia Pacific, highlighted the partnership’s significance, stating, “This partnership with bimota reinforces Motul’s position as a global leader in advanced lubricant formulations.”

The collaboration is set to enhance support for local riders, distributors, and service partners in Singapore, offering access to technologies developed under racing conditions. Pierluigi Marconi, bimota’s Chief Operating Officer, expressed enthusiasm, noting that the partnership blends Italian craftsmanship with Japanese engineering excellence, and is a perfect match for current and future projects.

Motul, a leader in premium lubricants, will provide bimota with dedicated technical support tailored to high-performance motorcycles. This partnership not only supports high-performance machines but also aims to shape the standards of performance and servicing for the next generation of riders.

The latest findings from the Private Education Institution Graduate Employment Survey (PEIGES) indicate that employment outcomes for fresh graduates from private education institutions in Singapore have remained stable for the 2024–2025 period. The survey, conducted by SkillsFuture Singapore (SSG), focused on economically active graduates from full-time Bachelor’s level External Degree Programmes.

The PEIGES results are significant as they provide insights into the job market performance of graduates from private education institutions, which are often compared to their counterparts from public universities. The survey’s findings suggest that these graduates continue to find employment opportunities at a consistent rate, despite the evolving economic landscape.

The survey’s focus on economically active graduates ensures that the data reflects those actively seeking employment, providing a clear picture of the job market’s receptiveness to private education graduates. This stability in employment outcomes is crucial for students considering private education pathways, as it underscores the viability of these programmes in preparing graduates for the workforce.

The stable employment outcomes also highlight the role of private education institutions in equipping students with skills that meet industry demands. As the job market continues to evolve, the ability of these institutions to maintain consistent employment rates for their graduates is a testament to their adaptability and relevance.

Lion Global Investors has announced that the LionGlobal Singapore Trust Fund has exceeded S$1.25b in assets under management. This milestone follows the firm’s appointment by the Monetary Authority of Singapore under the Equity Market Development Programme in November 2025. The fund’s growth reflects increased interest from both institutional and retail investors in Singapore-listed assets, highlighting Singapore’s stability as a capital market.

The fund has seen a surge in secondary market liquidity and new capital inflows, driven by strategic allocations in resilient sectors. Teo Joo Wah, CEO of Lion Global Investors, stated, “Crossing the S$1.25b mark for the LionGlobal Singapore Trust Fund is a validation of our long-term vision of Singapore as a sound and stable capital market.”

OCBC has played a crucial role in the fund’s recent growth, contributing S$600m in net inflows through its wealth management channels. Tan Siew Lee, Head of Group Wealth Management at OCBC, noted the growing investor interest in Singapore equities due to policy stability and predictable income.

The fund’s performance has been impressive, delivering a 33.7% return over the past year, outperforming its benchmark by 12.7%. This success is attributed to the fund’s focus on the small- and mid-capitalisation segment, which has generated significant returns.

Lion Global Investors remains committed to the Singapore market, managing over S$30b across various strategies. The firm continues to innovate, offering solutions like the LionGlobal Short Duration Bond Fund and Singapore’s first gold fund, reinforcing its role in strengthening Singapore’s capital markets.

HDB resale prices in Singapore have experienced a slight decline for the first time in nearly seven years, according to Realion (OrangeTee & ETC) Research’s Q1 2026 report. The report, covering January to March 2026, indicates a marginal decrease of 0.1% in resale prices, with significant drops in 1-room, 5-room, and executive flats.

The report highlights that 20 towns recorded price changes of less than 2%, with only six towns seeing increases above this threshold. Notably, Clementi, Marina Parade, Bukit Timah, and Bishan experienced the most significant declines, ranging from 4.4% to 6.9%.

Despite the overall price dip, demand for premium flats remains robust. The number of resale flats sold for at least $800,000 (S$800,000) increased to 1,364 units in Q1 2026, up from 1,047 units in the previous quarter. Additionally, million-dollar flat transactions reached a record high for the first quarter, rising from 350 units in Q4 2025 to 412 units.

Realion anticipates a modest price growth of 2% to 4% for the entire year of 2026, citing macroeconomic uncertainties as a factor in the restrained price escalation. The report suggests that the increased supply of resale flats and competition from new Build-To-Order (BTO) flats are influencing the market dynamics.

In conclusion, whilst HDB resale prices have dipped slightly, the demand for premium flats remains strong, indicating a resilient market despite broader economic uncertainties.