Industry News

United Overseas Bank (UOB) has launched a groundbreaking feature for its Singaporean credit cardholders, allowing them to redeem rewards points, known as UNI$, whilst shopping in Johor, Malaysia. This initiative, announced on 29 September 2025, marks UOB as the first Singapore financial institution to offer such a cross-border rewards redemption service.

The new capability enables UOB cardholders to instantly offset their bills at over 150 participating merchant outlets in Johor by using their UNI$ points at the point of sale. This development is part of UOB’s strategy to leverage its strong regional presence and enhance the benefits available to its customers across the Association of Southeast Asian Nations (ASEAN).

UOB’s move is expected to strengthen consumer connectivity between Singapore and Malaysia, providing added convenience for frequent travellers and shoppers. By allowing seamless rewards redemption across borders, UOB aims to enhance the overall customer experience and encourage more cross-border transactions.

This initiative not only highlights UOB’s commitment to innovation but also sets a new standard for financial institutions in the region. As the first of its kind, this feature could pave the way for similar offerings from other banks, potentially transforming the landscape of cross-border banking services in ASEAN.

Traveloka is set to launch its 10.10 Travel Sale from 1–10 October, offering a range of promotions aimed at supporting the growing trend of wellness travel among Singaporeans. The sale includes exclusive fares and discounts on flights, stays, and experiences, making self-care getaways more accessible and affordable.

The 10.10 Travel Sale features enticing offers such as S$100 off flights during Airline Super Brand Days with Malaysia Airlines and Singapore Airlines, with fares to popular wellness destinations like Bali, Bangkok, and Seoul starting from $168 (S$230). Additionally, daily $7 (S$10) Flash Deals on attractions such as Legoland Malaysia and Mandai Rainforest, as well as 50% off flash deals on flights and hotels, will be available at 7pm and 10pm.

Traveloka’s recent study highlights that 38% of Singaporeans travel to rest and recharge, with resorts and villas ranking among the top five most searched accommodation types. Popular wellness destinations include Bali, Penang, and Hanoi, whilst emerging spots like Yogyakarta and Da Nang are gaining attention for their cultural and nature-based offerings.

Baidi Li, VP Commercial at Traveloka, stated, “Travel is no longer just about sightseeing—it is increasingly a way to nurture well-being, build meaningful connections, and support local communities.”

The sale also offers up to $91 (S$125) in all-day coupons and a chance to win free flights on the Traveloka app. By aligning with the rising demand for wellness travel, Traveloka aims to empower Singaporeans to prioritise self-care and meaningful experiences.

Singapore’s Ministry of Finance has announced the allocation of S$2.8b from its sovereign green bonds for the financial year 2024 to fund the Jurong Region Line (JRL) and Cross Island Line (CRL). This allocation is part of the Singapore Green Bond Report for FY2024, which outlines the environmental impact of these projects. The report, released on 29 September 2025, highlights the country’s commitment to sustainable development and climate targets.

The Singapore Government issued a new 30-year Green Singapore Government Securities (SGS) bond in June 2024, raising S$2.5b. Additionally, a 50-year Green SGS bond was re-opened in October 2024, adding S$1.5b. Both issuances were met with strong demand, with subscription rates of 2.4 and 1.6 times, respectively. The total green bond proceeds allocated in FY2024 amount to S$2.8b, with S$3.6b remaining unallocated, expected to be fully allocated by FY2026.

The development of the JRL and CRL aligns with the “Sustainable Living” pillar of the Singapore Green Plan 2030. Once operational, these rail lines are projected to save between 100,000 and 120,000 tonnes of CO2-equivalent annually, equivalent to removing 22,000 cars from the roads. The expansion is also expected to create approximately 1,500 jobs by 2030, enhancing connectivity and reducing travel times for commuters.

CapitaLand Investment has unveiled its strategic initiatives for 2025 during its Corporate Day in Kuala Lumpur, focusing on expanding its funds under management (FUM) and enhancing platform synergies. The company aims to reach S$200 billion in FUM by the second half of 2025, driven by increased capital deployment and strategic alignments.

The company reported a significant increase in capital deployment, with S$3.2b invested year-to-date through private funds and real estate investment trusts (REITs), marking a 79% year-on-year growth. Additionally, CapitaLand Investment has raised S$2.6b in total equity, a 1.3 times increase compared to the previous year. These efforts are part of a broader strategy to fuel growth in key areas such as lodging, logistics, and private credit.

CapitaLand Investment is also focusing on expanding its global reach. The company has earmarked over S$700m for strategic co-investments and is aligning its operations with partners SCCP and Wingate to unlock platform synergies. This alignment is expected to contribute significantly to the company’s FUM ambitions.

The company’s listed funds platform in the Asia-Pacific region has also seen robust growth, with a 16% year-on-year increase in listed FUM, reaching S$71b. The recent listing of CapitaLand Commercial C-REIT on the Shanghai Stock Exchange has further bolstered its institutional subscription rates.

Looking ahead, CapitaLand Investment plans to continue its thematic strategies, particularly in private funds, with a target of over S$2b in committed FUM within the next 12 months. The company is poised to accelerate its growth in the second half of 2025, leveraging its diversified brand strategy and strategic partnerships.

Singapore’s Department of Statistics has unveiled the Population Trends, 2025 report, revealing that the nation’s total population has reached 6.11 million as of the end of June 2025. This figure includes 3.66 million Singapore citizens and 0.54 million permanent residents, alongside 1.91 million non-residents.

The report, now in its twenty-first edition, provides a comprehensive analysis of Singapore’s demographic landscape. It highlights key aspects such as population size, growth, and the age structure, which are crucial for understanding the implications on production, investment, and community development. The report is divided into six chapters, covering topics from geographical distribution to fertility and mortality rates.

Chief Statistician Koh Eng Chuan expressed gratitude to various government agencies for their data contributions, emphasising the importance of these statistics for policymakers, planners, and businesses. “A good understanding of demographic forces and emerging trends is useful for policy makers, planners, businesses and the academia,” he stated.

In the third quarter of 2025, Singapore’s office market experienced a notable trend of flight-to-quality moves, as reported by Knight Frank Singapore. With limited new office supply, occupiers are focusing on renewing leases and selectively upgrading to newer, well-connected buildings. This has resulted in a two-tier market where modern buildings thrive, whilst older properties face increasing vacancy pressures.

Prime office rents in the Raffles Place and Marina Bay precincts rose by 0.3% quarter-on-quarter, reaching an average of S$11.41 per square foot per month. Occupancy levels in these areas remained stable at 94.7%, with overall Central Business District (CBD) occupancy increasing by 0.5 percentage points to 94.2%. Calvin Yeo, Head of Occupier Strategy and Solutions at Knight Frank Singapore, noted, “With limited fresh supply in the pipeline, most occupiers continue to prioritise renewals.”

The demand for quality office spaces is driven by the enhanced tenant experience, often referred to as “hotelification,” which includes concierge services and smart building operations. Notable relocations include Zoom Communications and Jane Street moving to IOI Central Boulevard Towers. Meanwhile, older buildings are becoming less attractive to modern businesses, especially with upcoming projects like the Comcentre redevelopment offering AI-enabled, carbon-neutral offices.

The Singapore economy’s growth, with a 4.4% year-on-year increase in Q2 2025, has led the Ministry of Trade and Industry to revise the GDP growth forecast to 1.5% to 2.5% for the year. Despite global uncertainties, Singapore remains a stable business hub, with prime rental growth expected to remain flat in the coming months.

Novartis Singapore and the Singapore Heart Foundation have launched the ‘Beat the Block’ campaign to tackle misconceptions about high blood cholesterol in Singapore. This initiative, unveiled on 30 September, aims to educate the public on managing cholesterol levels effectively to prevent cardiovascular diseases, which account for nearly one in three deaths in the country.

The campaign follows a survey revealing that whilst high blood cholesterol prevalence has decreased from 39.1% in 2020 to 31.9% in 2022, misconceptions persist. The survey, conducted by IQVIA, highlighted that 93% of respondents believe diet and exercise are as effective as medication in lowering cholesterol, and 72% fear long-term statin use could harm kidneys and liver. These misconceptions contribute to non-compliance with prescribed treatments, with 37% of patients skipping medication doses.

Geoffrey Ong, CEO of the Singapore Heart Foundation, emphasised the campaign’s importance, stating, “Heart health is fundamental to the strength and vitality of individuals, families, and communities.” Dr. Bernard Kwok, a cardiologist, added, “High blood cholesterol is silent and has no symptom. It is crucial for all adults to regularly check their blood cholesterol levels.”

A key feature of the campaign is the Cardiovascular Risk Calculator, which uses the Singapore-modified Framingham Risk Score to estimate an individual’s 10-year risk of coronary artery disease. This tool aims to provide personalised LDL-C targets, crucial for managing cholesterol levels and preventing heart attacks and strokes.

Dezign Format, a leader in immersive design solutions, is on a robust growth trajectory with an order book valued at approximately S$26.6m as of 31 August 2025. The company has successfully launched its immersive virtual reality attraction, “The Element Code 305,” in Kuala Lumpur and Ho Chi Minh City, marking significant milestones in its regional expansion.

The company has secured high-profile client engagements across various sectors, including luxury automotive, premium timepieces, integrated resort décor, and commemorative exhibitions. Notably, Dezign Format is involved in Singapore’s 60th anniversary showcase, highlighting its capability to handle prestigious projects.

In a strategic move, Dezign Format has signed memorandums of understanding (MOUs) with Hustle & Bustle, establishing itself as an official partner for upcoming projects. This partnership is expected to enhance the company’s market presence and project pipeline.

Further expanding its regional footprint, Dezign Format has accelerated its entry into the Thai market by participating in the Thailand MICE X-Change. Additionally, the company is set to open a new production facility in Johor, Malaysia, by the fourth quarter of 2025, which will bolster its production capabilities.

Chairman and CEO Mike Chong stated, “Our recent achievements are a testament to the team’s relentless pursuit of excellence and innovation. The strategic partnerships and our new facility in Malaysia will further enhance our capabilities, allowing us to capture exciting new opportunities across the region.”

With these developments, Dezign Format is poised to deliver sustained value to its stakeholders, leveraging its innovative approach and strategic partnerships to drive future growth.

Singapore Management University (SMU) and Babes Pregnancy Crisis Support Ltd have announced a collaboration to develop Level Up: #Adulting, Singapore’s first gamified wellness platform for youth. This innovative platform, built on Amazon Web Services (AWS) infrastructure, is designed to engage young people through interactive experiences, focusing on mental wellness, family planning, and self-care.

The platform will be co-created through SMU’s ‘Transformative Leadership’ course, starting January 2026. This course, part of SMU’s experiential learning initiative, allows students to tackle real-world challenges under the guidance of faculty and industry experts. SMU students will handle the platform’s content and technical development, whilst Babes will provide insights to ensure the content is relevant and authentic. AWS will offer cloud infrastructure and technical expertise to ensure the platform is scalable and secure.

Set to launch in early 2026, Level Up: #Adulting aims to help youths make informed choices and build resilience. The initiative seeks to expand its impact through partnerships with community organisations and corporate sponsors.

SMU Provost Alan Chan emphasised the importance of bridging education with social innovation, whilst Babes’ Executive Director Melisa Wong highlighted the collaboration’s goal of creating a supportive space for youth. The platform represents a significant step in empowering young people to navigate adulthood effectively.

Etiqa Insurance Singapore has announced a charity pledge linked to the launch of its latest Takaful products, including the new Shariah-compliant investment-linked plan, Invest purpose. For each policy sold, Etiqa will donate 0.1% of the first-year regular premiums from new Family Takaful products launched after 1 August 2025 to the Community Chest of Singapore. This initiative aims to align financial growth with personal values, reflecting Etiqa’s commitment to societal impact and the Takaful principle of mutual support.

The launch of Invest purpose is part of Etiqa’s strategic expansion of its values-based insurance portfolio, following the reintroduction of Takaful to the Singapore market in January 2025. Raymond Ong, CEO of Etiqa Insurance Singapore, stated, “Today’s consumers are increasingly seeking to align their investments with their personal values—demanding products that deliver not only financial returns, but also a sense of purpose and social responsibility.”

Invest purpose offers several key benefits, including Takaful coverage for death and terminal illness, flexible premium terms, and the ability to pause premiums without fees. Policyholders can also make two free partial withdrawals from the fourth year of their policy and have the option to establish a Wakaf, a charitable endowment, to support meaningful causes.

The initiative underscores Etiqa’s dedication to providing insurance solutions that cater to ethical, social, and personal concerns, offering a pathway to purposeful wealth creation for a new generation of conscious investors.