Industry News

Singlife has unveiled three new Integrated Shield Plan riders and a Singlife Care Collab Recovery Support Benefit, set to launch on 1 April 2026. These initiatives aim to offer Singaporeans more affordable healthcare options as the nation transitions into a super-aged era. The new riders, Singlife Health Plus Private and Singlife Health Plus Public, will reduce premiums by 30% to 84%, aligning with the Ministry of Health’s latest requirements.

The Singlife Care Collab Recovery Support Benefit, available at no extra cost to new and existing customers with Singlife Health Plus and Singlife CareShield or ElderShield, provides up to $20,000 in coverage for home nursing care and rehabilitation services in cases of severe disability. This benefit is part of Singlife’s broader Care Collab initiative, which connects customers with wellness and recovery programmes through partnerships with agencies like the Singapore Cancer Society, Stroke Support Station, and Dementia Singapore.

Helen Shen, Group Head of Products at Singlife, emphasised the company’s commitment to supporting customers’ wellbeing from diagnosis to recovery. “We want to take care of our customers’ wellbeing from the time they are first diagnosed till their recovery,” she stated. “We aim to ease their families’ burdens and show them a better way to recover from disability, throughout their entire journey.”

As Singapore’s long-term care costs rise, currently averaging $3,000 per month, Singlife’s new offerings provide a comprehensive solution to meet the growing demand for accessible healthcare. The company plans to expand its Care Collab network, focusing on closing the protection gap for ageing Singaporeans.

Worldpay, now part of Global Payments, has unveiled its 2026 Global Payments Report, revealing that the Asia-Pacific (APAC) region remains the global leader in digital wallet adoption. In 2025, digital wallets accounted for 77% of online spending, totalling $2.7t, and 63% of in-person spending, amounting to $6.3t, the highest shares globally. The report also highlights the rapid growth of account-to-account (A2A) payments across Southeast Asia, driven by robust national payment systems.The report underscores the transformative impact of digital wallets in countries like India and South Korea, where they are set to overtake traditional card payments by 2030. In Singapore, cards account for 44% of e-commerce ($10.8b) and 40% of POS ($55b) spend in 2025. Digital wallets follow closely at 40% ($10b) and 36% ($49b) respectively. In Hong Kong, digital wallets have surpassed cards as the leading payment method, marking a significant milestone.

Phil Pomford, General Manager of Global eCommerce for APAC at Global Payments, noted, “Asia’s payment landscape is evolving faster than anywhere else in the world.”

A2A payments are gaining traction, particularly in Thailand, where the government’s PromptPay system is a key driver. The popularity of QR code systems is further propelling A2A growth, offering a low-cost, intuitive payment method that is becoming increasingly interoperable across the region. In Singapore, the PayNow system is contributing to the rise of A2A payments, projected to account for 13% of e-commerce and 15% of point-of-sale transactions by 2030.

The report highlights the ongoing evolution of Asia’s payment landscape, with digital wallets and A2A payments reshaping consumer and business transactions. As these trends continue, they are expected to redefine cross-border trade and digital commerce in the region.

The Institute of Singapore Chartered Accountants (ISCA) held its first Annual Ceremony in Shanghai on 29 March, gathering over 150 members and partners from China and Singapore. This event signifies ISCA’s ongoing internationalisation efforts, recognising long-serving members and announcing a new partnership with the Singapore Chinese Chamber of Commerce & Industry (SCCCI) to strengthen business ties between China and Singapore.

ISCA has been expanding its global presence, with 12 overseas chapters in nine countries and six offices across four countries. In China, ISCA has established offices in Shanghai and Nanjing and partnered with the Nanjing University of Finance and Economics to integrate the Singapore Chartered Accountant Qualification into its curriculum. This initiative allows Chinese students to graduate with a degree in accounting and fast-track to the Chartered Accountant (Singapore) designation.

Claire Qian, ISCA Shanghai Chapter Chairperson, highlighted the importance of the event, stating, “ISCA’s growing presence in China reflects strong demand for deeper professional and business linkages between China and Singapore.”

The ceremony also introduced a collaboration between ISCA and SCCCI to develop a practical executive programme aimed at assisting Chinese companies in expanding into Southeast Asia. ISCA President Teo Ser Luck emphasised China’s significance in ISCA’s strategy, noting the potential for growth in Southeast Asia.

The event celebrated over 30 member achievements, recognising milestones and contributions to the accountancy profession. Kelvin Lam, CFO of NTT Data (China), praised ISCA’s support for overseas members, saying it has provided valuable resources and opportunities for growth.

Two adjoining strata-titled shophouses at 28 and 30 Dickson Road are now on the market through an expression of interest (EOI) exercise, with a guide price set at $9m. The sale is being managed by Huttons Asia Pte Ltd, a prominent real estate agency in Singapore.

The shophouses, each with a strata area of 111 and 113 square metres respectively, total 2,411 square feet. This translates to a guide price of $3,733 per square foot. Both properties are on a 999-year leasehold, zoned for commercial use, and currently leased to a restaurant operator.

According to Yeo Khee Liang, Associate Senior Marketing Director, and George Tan, Director of Corporate Sales and Marketing at Huttons, the configuration of two adjoining units offers investors the opportunity to secure stronger rental returns compared to a single shophouse. This setup also provides the flexibility to sell the units individually in the future.

Foreign investors are eligible to purchase these properties, as they are on land zoned for commercial use. Lee Sze Teck, Senior Director of Data Analytics at Huttons, noted, “With interest rates falling, interest in shophouses has picked up. The conflict in the Middle East may see some wealth flowing into this rare asset class.”

The EOI exercise is scheduled to close on 7 May 2026 at 4pm, offering potential buyers a limited window to express their interest in these unique properties.

PERSOL, a leading HR solutions provider in the Asia Pacific, has officially launched PERSOL Outsourcing, a unified brand combining the strengths of P-Serv and EVO. This strategic rebranding is designed to help businesses in Malaysia navigate the increasingly complex and technology-driven market. The move is part of PERSOL APAC’s regional growth strategy, aiming to deliver tailored end-to-end solutions that integrate people, process, and technology.

The rebranding addresses the growing demand for agile delivery models in the regional Business Process Outsourcing (BPO) market, which is projected to reach $147.06b by 2032. Foo See Yang, Managing Director and Strategic Business Group Head of PERSOL APAC, stated, “The launch of PERSOL Outsourcing reflects our commitment to scaling smarter and innovating faster for our clients.”

PERSOL Outsourcing will focus on three core pillars: Customer Experience, Corporate Services, and Technical solutions. These include supporting service delivery across all touchpoints, streamlining complex shared service operations, and driving digital transformation through engineering and IT infrastructure management.

Effective immediately, P-Serv and EVO will operate under the PERSOL Outsourcing brand, allowing clients to access an expanded suite of regional resources and digital innovations. This integration is expected to enhance operational efficiency and better support clients’ evolving needs in digital transformation, workforce optimisation, and operational resilience.

The Competition and Consumer Commission of Singapore (CCS) is inviting public feedback on commitments proposed by SP Mobility Pte. Ltd. (SPM) regarding its planned acquisition of Strides YTL Pte. Ltd. (ChargEco). The acquisition has raised competition concerns as both companies supply Electric Vehicle Charging Points (EVCPs) in Housing Development Board (HDB) car parks in Singapore’s East region.

The concerns stem from a large-scale tender in November 2022, where both SPM and ChargEco were awarded contracts to supply EVCPs in the East region, including areas like Bedok and Tampines. Prior to the proposed acquisition, the two companies were competitors in this market.

To mitigate these concerns, SPM has proposed several commitments. These include maintaining EV charging prices at pre-acquisition levels, except when costs from regulators or uncontrollable factors necessitate changes. Additionally, SPM has pledged not to apply discounts or rebates in a discriminatory manner against drivers charging in the East region.

These commitments are set to last for three years from the CCS’s final decision on the acquisition. SPM has also agreed to notify CCS of any price adjustments at the East HDB EVCPs. CCS retains the right to appoint a Monitoring Trustee if non-compliance is suspected.

Public feedback on these commitments is open until 5pm on 13 April 2026. The CCS aims to determine if the proposed measures adequately address the competition issues identified. Further details and submission guidelines are available on the CCS website.

Cigna Healthcare Singapore is celebrating its 15th anniversary, marking a significant milestone in its journey as a leading global health insurance provider. The company has launched a yearlong campaign, “Celebrating 15 Years of Connected World-Class Healthcare,” running from March to December 2026. This initiative aims to highlight Cigna’s commitment to supporting the health of its members through digital out-of-home advertisements across key locations in Singapore.

Cigna Healthcare Singapore has established itself as a dominant player in the premium healthcare market, offering versatile services to a wide range of industries, including technology, hospitality, and financial services. The company collaborates with partners like Alliance Healthcare and iXchange to expand access to quality care for its members. “This milestone reflects the trust we’ve built with our clients, partners, and members,” said Raymond Ng, CEO and Country Manager of Cigna Healthcare Singapore and Australia.

In response to Singapore’s medical inflation rate of 16.9% this year, Cigna has partnered with iXchange to launch value-based contracts, aiming to manage costs and improve care quality. Dr Peter Chow, CEO of IHH Healthcare Singapore, praised the partnership, stating, “Collectively, IHH Healthcare Singapore and Cigna are focused on better cost and care management.”

Cigna’s commitment to innovation is evident in its Cigna Care Connect programme, which evolved in February 2025 to meet the growing demand for domestically focused healthcare solutions. The company also integrates data analytics and AI into its operations to enhance efficiency and performance. As Raymond Ng noted, “Our journey doesn’t stop at 15 years—we’re building the next chapter of connected world-class healthcare for Singapore and beyond.”

StringsSG has revolutionised the personal training landscape in Singapore by transitioning to a full-service model. This move aims to tackle issues of inconsistent service quality, lack of accountability, and unclear pricing that have long plagued the industry. Traditionally, personal trainers in Singapore have operated on a freelance basis, leading to missed sessions and variable training quality. StringsSG’s new approach directly employs trainers as full-time and part-time staff, ensuring consistent service and accountability.

The company now manages all client contracts, providing a seamless customer experience from onboarding to achieving results. “The industry has been too fragmented for too long, and customers are the ones who bear the risk,” said Sushil A, Founder of StringsSG. “We are setting a new benchmark by combining accountability, structured coaching, and transparent pricing—so clients know exactly what they are getting.”

StringsSG has implemented structured quality tracking, trainer performance monitoring, and standardised training frameworks. Clients receive high-quality coaching, personalised workout programmes, and guided diet plans, all under a consistent system. A standout feature of StringsSG’s model is its commitment to transparent pricing, with rates clearly published on its website. This contrasts with the common industry practice of undisclosed pricing, often revealed only during consultations at unexpectedly high rates.

By making pricing openly accessible, StringsSG empowers clients to make informed decisions, setting a new standard in the personal training sector.

Porsche Singapore has announced the launch of a new feature, “Variable Opening Guidance for Entry and Leaving” (VOGEL), available exclusively on 1 April 2026. This innovative feature offers a unique local interpretation of vehicle entry and exit, transforming the standard locking and unlocking sounds into distinctive soundscapes familiar to Singaporeans.

VOGEL, derived from the German word for “bird,” replaces the traditional metallic release sound with three new options: ‘UWU’, ‘POK’, and ‘CAW’. These sound profiles are designed to integrate seamlessly into the vehicle’s electronic systems, providing a clear and precise auditory experience. The feature is a nod to Porsche’s long-standing tradition of individualisation, extending beyond visual and tactile customisation.

For over 75 years, Porsche has been at the forefront of engineering excellence and personalisation. VOGEL continues this legacy by blending precision craftsmanship with local cultural elements, offering a sensory experience that is both unexpected and unmistakably Porsche. The launch film for VOGEL can be viewed on Porsche Singapore’s Instagram and Facebook pages.

Porsche Asia Pacific, a subsidiary of Dr. Ing. h.c. F. Porsche AG, oversees 13 markets from its headquarters in Singapore. The company is renowned for its iconic sports cars and deep-rooted connection to motorsport, continually pushing the boundaries of innovation. With the introduction of VOGEL, Porsche Singapore reinforces its commitment to enhancing customer experiences through unique and personalised offerings.

YY Group Holding Limited, a leader in on-demand workforce solutions and integrated facilities management, has announced an immediate pause to its At-The-Market (ATM) equity offering programme. The decision, communicated through its sales agents Spartan Capital Securities and Wilson-Davis & Co., involves the cancellation of 1,004,107 shares that were allocated but not sold. This move will reduce the total outstanding shares from 4,278,935 to 3,274,828, with the cancellation expected to complete by 3 April 2026.

The company, listed on NASDAQ under the ticker YYGH, has assessed its liquidity as sufficient to meet its operational needs and achieve its FY2026 revenue targets of $103m to $110m. CEO Mike Fu stated, “We have the capital we need to execute our plan, and pausing the ATM reflects that assessment.” The ATM programme, which allows for the sale of up to $20m in shares, remains paused with no current plans for reactivation.

YY Group, headquartered in Singapore, operates across Asia and beyond, providing flexible workforce solutions and integrated facility management services. The company leverages digital platforms and IoT systems to support industries such as hospitality, logistics, retail, and healthcare. With a presence in Asia, Europe, Africa, Oceania, and the Middle East, YY Group continues to focus on service excellence and long-term value creation for its clients and shareholders.