Industry News

DHL Supply Chain has launched Singapore’s first autonomous vehicle (AV) specifically designed for supply chain operations at its Asia Pacific Advanced Regional Centre. Developed in collaboration with Zelostech, the fully electric AV automates the movement of goods between storage zones, marking a significant step in logistics automation and supporting Singapore’s smart industry transformation.

The AV integrates with DHL’s warehouse management systems, featuring advanced navigation, real-time monitoring, and built-in safety protocols. This initiative is part of DHL’s autonomous logistics roadmap, with plans to expand deployment across selected public roads and additional customer operations, pending regulatory approval.

Eunis Hew, Managing Director of DHL Supply Chain Singapore, stated, “By embedding autonomous technology into our operations, we’re not only enhancing efficiency and safety but also paving the way for the next chapter of supply chain automation in Singapore and beyond.”

Zelostech, a winner of the DHL Fast Forward Challenge, collaborated with DHL and Infineon Technologies to bring this innovation to life. Sean Zhang, Co-Founder and Chief Operating Officer of Zelostech, highlighted the platform’s potential to scale automation intelligently, making operations more efficient and future-ready.

The electric AV is expected to reduce carbon emissions by over 80% annually compared to diesel lorries, eliminating tailpipe emissions and saving the equivalent of 120 trees a year. This aligns with DHL Group’s Strategy 2030, focusing on sustainable growth through digitalisation and aiming for net-zero emissions logistics by 2050.

Realion (OrangeTee & ETC) Group has provided insights into Singapore’s Government Land Sales (GLS) programme for the first half of 2026, emphasising the strategic release of sites in key growth areas such as Holland Plain, Belayer Drive, and Bayshore. Christine Sun, Chief Researcher and Strategist of Realion, noted that the release of private land alongside new Build-To-Order (BTO) flats ensures a balance between private and public housing, offering HDB upgraders nearby private housing options.

The Holland Plain site, part of the Urban Redevelopment Authority’s masterplan, is expected to attract luxury home buyers due to its low-density vision and prime location. The River Valley Green site, near Great World MRT station and reputable schools, is anticipated to draw interest due to its strategic location and proximity to amenities.

Peck Hay Road, situated in the prestigious Cairnhill area, is another prime site expected to appeal to luxury home buyers. The Greater Southern Waterfront’s Belayer Drive site is likely to see healthy participation, with its proximity to the CBD and potential sea views.

Canberra Drive and Sembawang Drive Executive Condominium (EC) sites are expected to meet strong demand, particularly from HDB upgraders seeking affordable options. Meanwhile, the New Upper Changi Road site, capable of developing over 1,000 units, is anticipated to satisfy pent-up demand for private homes in Bedok.

The Bayshore Drive site, part of a new transformation area, is expected to attract strong bidding interest due to its integrated development plans and future connectivity to the Bedok South MRT station. Lastly, the subdivision of the Jurong Lake District site into smaller plots is seen as a positive move to attract a broader range of developers.

Embed Financial Group Cayman Holdings, a Singapore-based financial infrastructure company, has announced a definitive agreement to merge with WinVest Acquisition Corp, a special purpose acquisition company. This merger, valued at approximately US$425m, will see the formation of a new holding company, WinVest Holdings Corp, which will be renamed Embed Financial Global Holdings.

The merger aims to enhance Embed Financial Group’s mission to provide financial services infrastructure, known as the “Finternet”, across emerging markets in Africa and Asia. The company, founded in 2024, focuses on delivering embedded financial services such as insurance, remittances, and digital wallets to underserved consumers and small and medium enterprises (SMEs).

Dennis Ng, Founder and CEO of Embed Financial Group, expressed enthusiasm about the merger, stating, “A Nasdaq listing will accelerate our mission to build the Finternet for underserved consumers and SMEs across Africa and Asia.” Manish Jhunjhunwala, CEO of WinVest, added, “EFGH’s work to broaden access to the Finternet is inspiring and aligns with our mission.”

The transaction involves several steps, including the merging of WinVest’s subsidiaries with Embed Financial Group and WinVest itself, making them wholly-owned subsidiaries of the new holding company. Shareholders of Embed Financial Group will receive 42.5 million shares of the new company, whilst WinVest equity holders will receive equivalent securities.

The merger is subject to approval from WinVest’s shareholders and regulatory conditions. Upon completion, Dennis Ng will continue as Executive Chairman and CEO of the combined entity.

Singapore’s economy is set to grow by 1.8% in 2026, according to the latest outlook from DBS Group Research. The report highlights the city-state’s ability to navigate global challenges, including tariffs and technological cycles, whilst maintaining economic stability. Despite a slowdown from the estimated 4.0% growth in 2025, Singapore’s modern services and construction sectors are expected to provide a buffer against trade-related moderation.

Inflation is projected to rise slightly, with core inflation at 1.0% and headline inflation at 1.2%, yet remain manageable. The Monetary Authority of Singapore is anticipated to maintain its current monetary policy, with the Singapore Dollar expected to trade between 1.25 and 1.30 against the US Dollar.

DBS notes that Singapore’s modern services sector, encompassing finance, insurance, and ICT, will play a crucial role in supporting economic growth. The finance sector is poised to benefit from increased trading activity, whilst the ICT sector is expected to continue its positive momentum, driven by advancements in digital technology and AI adoption.

The report underscores Singapore’s position as a trusted financial centre and business hub, with ongoing political stability and policy continuity under the leadership of the fourth-generation team. As Singapore faces global economic shifts, its resilience and strategic focus on modern services and digitalisation are expected to sustain its economic vibrancy in the coming years.

EPG, a Singapore-based provider of modular data centre solutions, has achieved a significant milestone by securing BOMBA certification from Malaysia’s Fire and Rescue Department. This approval positions EPG as one of the first modular data centre manufacturers to meet Malaysia’s stringent fire safety requirements, facilitating seamless deployment across Southeast Asia.

The BOMBA certification, a mandatory compliance step for data centre equipment in Malaysia, involves rigorous testing and audits. EPG’s modular systems successfully passed evaluations, demonstrating strong fire safety performance and structural integrity, aligning with both Malaysian and international standards. An EPG spokesperson noted, “BOMBA certification serves as a gateway into Malaysia and a trusted signal for customers across ASEAN.”

This certification comes as EPG expands its Johor Bahru manufacturing hub, which is set to include a new 80 million facility by Q3 2026. The facility will offer 40,000 m² of workshop space, employ over 800 specialists, and produce more than 2,000 modular units annually, supporting up to 550 MW of project capacity.

With BOMBA approval, EPG can accelerate the delivery of compliant systems to markets such as Thailand, Vietnam, and Indonesia, where demand for modular capacity is rising due to AI and cloud expansion. This achievement is part of EPG’s broader global compliance strategy, as the company seeks to expand certification initiatives to other regulated markets worldwide.

OCBC and Marriott International have announced a strategic partnership to aid 12,000 small and medium-sized enterprise (SME) suppliers in Singapore, Malaysia, and Indonesia. The collaboration focuses on providing timely access to working capital and supporting sustainable business practices. Suppliers using Marriott’s procurement platform will benefit from digital invoice financing with same-day approval from OCBC, addressing the urgent need for cash flow amidst rising cost pressures.

The partnership allows SMEs to receive up to 80% of their invoice amount without needing to submit bank statements or financial reports. This streamlined process helps optimise cash flow, enabling businesses to seize growth opportunities more effectively. Since the programme’s inception in 2023, OCBC has disbursed approximately S$250m in loans to SMEs in Singapore and Malaysia.

In addition to financial support, OCBC will assist suppliers in establishing a baseline measurement of their sustainability performance. Partnering with EcoVadis, the bank will offer training and workshops to enhance sustainability practices. Suppliers can also access sustainability-linked loans, incentivising improvements in their sustainability metrics.

Marriott International is committed to achieving net-zero greenhouse gas emissions by 2050. The partnership with OCBC aligns with this goal, empowering suppliers to contribute to Marriott’s sustainability efforts. Rashida Ismail from OCBC emphasised the importance of supporting SMEs in their growth and sustainability journeys, whilst Cristiano Rinaldi of Marriott highlighted the need for a collaborative approach to tackling climate change.

The programme, launched in Singapore and Malaysia in 2025, will expand to Indonesia in the first half of 2026.

The Singapore Exchange (SGX) has unveiled its list of the 30 most traded non-Straits Times Index (STI) stocks for the second half of 2025. These stocks, spanning all 12 sectors, collectively hold a market capitalisation of S$74b. Notably, the list includes three newcomers: YZJ Maritime, NTT DC REIT, and Centurion Accommodation REIT (CAREIT), with total returns since listing ranging from 17% for CAREIT to a 3% decline for NTT DC REIT.

The 27 stocks that were already listed in the first half of 2025 saw their average daily turnover (ADT) rise from S$115m to S$180m in the second half, with a 30% average total return. These stocks also experienced a net institutional inflow of S$76m, building on the S$90m from the first half. CSE Global led the net institutional inflow-to-market cap ratio, with its ADT increasing from S$1.4m to S$5.8m.

Among the 30 stocks, seven real estate investment trusts (REITs) stood out with a combined market capitalisation of S$19.5b and a 2H25 ADT of S$53.1m. Despite a net institutional outflow of S$135m, Suntec REIT, Lendlease Global Commercial REIT, and Keppel REIT recorded positive net inflows and total returns of 25%, 25%, and 23%, respectively.

The technology sector also made a significant impact, with CSE Global, iFAST Corporation, and Frencken Group leading in net institutional inflow relative to market capitalisation. The sector’s ADT surged to S$44.4m, more than doubling from the first half of the year.

These developments highlight the dynamic nature of Singapore’s stock market, with significant institutional interest and trading activity beyond the STI.

Lincotrade & Associates Holdings Limited has successfully completed a share placement, raising S$2.2m through the issuance of 10 million shares at S$0.22 each. The placement, priced at a 3.14% premium over the last traded market day, attracted significant interest from institutional investors, including Lion Global Investors Limited, ICH Synergrowth Fund, and Ginko-AGT Global Growth Fund.

The funds raised will be utilised for working capital purposes, as the company continues to expand its order book, which reached a record S$113m as of 30 September 2025. This increase is largely attributed to new contract wins valued at S$61m, all of which are commercial projects in Singapore expected to be completed over the next two years.

Jackie Soh Loong Chow, CEO of Lincotrade, expressed satisfaction with the placement’s success, stating, “We are pleased to announce the successful completion of our share placement at a price premium, garnering support from prominent institution investors. Though modest in scale, we believe it is an endorsement of our strategic vision and future prospects ahead.”

The company, specialising in interior fitting-out services, aims to leverage this momentum to drive sustainable value creation for its stakeholders. With a strategic focus on commercial projects, Lincotrade anticipates that the new contracts will positively impact its financial results over the contract duration.

Esther Lee has been appointed as the new Managing Director of Jobstreet in Singapore, announced by SEEK, the parent company of Jobstreet and Jobsdb. Previously serving as SEEK’s Head of APAC Commercial Growth, Lee pioneered the SmartHire pay-per-hire solution across Singapore, Hong Kong, and Malaysia. In her new role, she will focus on leveraging AI technology and local market insights to enhance Jobstreet’s position as a leading employment marketplace in Singapore.

Chook Yuh Yng, SEEK’s Director of Asia Sales and APAC Service, expressed confidence in Lee’s capabilities, stating, “Esther’s deep understanding of the region’s job markets and business culture, developed over her decade with us, positions her perfectly to drive Jobstreet’s growth in Singapore.” Lee’s extensive experience includes roles in Kuala Lumpur, Hong Kong, Jakarta, and Melbourne, where she managed transformation strategies and drove operational excellence.

Lee, who has been with SEEK since 2014, previously served as Acting Managing Director of Jobstreet in Indonesia, where she achieved significant business improvements. She commented, “With Singapore’s position as Asia’s business hub and gateway to Southeast Asia, there is immense potential for us to expand Jobstreet’s impact in making those connections.”

Jobstreet, operated by SEEK, has been a prominent employment marketplace in Singapore since 1999, combining local expertise with SEEK’s AI technology to connect jobseekers and employers across the Asia Pacific. Lee’s appointment is expected to further strengthen Jobstreet’s market presence and facilitate meaningful career connections in Singapore.

The Singapore Eye Research Institute (SERI) and Santen Pharmaceutical Co., Ltd. have unveiled the Santen-SERI Open Innovation Centre (SONIC) 2.0, a collaboration focused on advancing therapies for major eye diseases. This initiative, valued at S$21m, seeks to accelerate the development of first-in-class, disease-modifying treatments for conditions such as glaucoma, presbyopia, and myopia.

Building on a strategic partnership that began in 2014, SONIC 2.0 follows the success of SONIC 1.0, a S$37m programme that ran from 2017 to 2023. The new collaboration combines Santen’s pharmaceutical expertise with SERI’s clinical research capabilities, aiming to deliver innovative treatments that address significant unmet clinical needs.

The partnership is set to strengthen Singapore’s position as a leading regional centre for ophthalmic innovation. “Together, we established a strong foundation for translational ophthalmic research by combining scientific excellence, clinical expertise, and industry innovation,” said Tin Aung, CEO of the Singapore National Eye Centre.

SONIC 2.0 will focus on four strategic research themes: discovering novel therapeutic concepts for glaucoma, establishing advanced pre-clinical models for presbyopia, improving myopia treatments, and investigating anti-scarring agents for multi-disease applications. The programme is expected to run from December 2025 to November 2028, with joint investment from both Santen and SERI.

This collaboration not only aims to deliver commercial-ready innovations but also seeks to enhance Singapore’s biomedical R&D leadership, ultimately benefiting patients with earlier access to innovative treatments and improved outcomes.