Industry News

Fullerton Fund Management and Da Cheng International Asset Management have announced a strategic partnership to co-sponsor and distribute equity products in Singapore and Hong Kong. This collaboration combines Fullerton’s Global Absolute Alpha equity strategy with Da Cheng’s Gao Xin China equity strategy, aiming to leverage each firm’s strengths in their respective markets.

The partnership builds on Fullerton’s recent launch of the Fullerton Lux Funds – China Equities, which is sub-advised by Da Cheng. Fullerton, a Singapore-based investment specialist with over 20 years of experience, serves a diverse clientele including government entities and private wealth clients. Da Cheng International, a subsidiary of one of China’s pioneering fund houses, brings its robust local expertise and a strong presence in the Hong Kong market.

Mark Yuen, Chief Business Development Officer at Fullerton, emphasised the partnership’s potential to connect global investors with China’s dynamic market. “Our partnership with DCI fulfils our aim by providing our investors access to Da Cheng’s deep local expertise,” he stated. Xiao Jian, deputy CEO of Da Cheng Fund, expressed enthusiasm for bringing Fullerton’s global equity expertise to Hong Kong investors, highlighting the complementary nature of their strategies.

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Centurion Corporation Limited has announced the acquisition of Harum Megah, a Johor-based dormitory operator, for $33.2m (RM110.8m). This strategic move, executed through Centurion’s subsidiary, Centurion Dormitories Sdn. Bhd., adds six Purpose-Built Worker Accommodation assets to its portfolio, increasing its bed capacity in Malaysia by 25% to approximately 35,610 beds.

The acquisition aligns with Centurion’s goal to double its bed capacity in Malaysia over the next five years, as outlined in a letter of intent signed with the Iskandar Regional Development Authority. The six assets, strategically located in mature industrial estates, boast a total capacity of around 7,197 beds and are fully operational with healthy occupancies. These assets are licensed as Centralised Labour Quarters and comply with Malaysia’s Workers’ Minimum Standards of Housing and Amenities Act 1990 (Act 446).

Kong Chee Min, CEO of Centurion Corporation, stated, “The acquisition expands our Malaysia portfolio with six additional operating assets, strengthening our presence in Johor and broadening our reach in the market. The properties will accrete to the Group’s revenue immediately.”

This acquisition marks a significant step in Centurion’s strategy to support the Johor-Singapore Special Economic Zone and meet the growing demand for quality, compliant accommodation in Malaysia. With ongoing infrastructure and industrial development in the region, the demand for certified worker accommodation remains strong, reinforcing Centurion’s commitment to delivering safe and professionally managed living environments.
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DHL Express has announced the appointment of Karen Tan as Chief Information Officer (CIO) for the Asia-Pacific region, effective 1 September. Based in Singapore, Tan succeeds Jimmy Yeoh, who will retire at the end of the year after 33 years with the company. Tan’s new role will involve overseeing IT infrastructure, digital acceleration, and cybersecurity strategy across more than 40 countries and territories.

Tan previously served as CIO for DHL Express Singapore, where she developed a digitalisation framework and enhanced data protection measures. Her leadership in diversity and inclusion initiatives, such as International Women’s Day, has also been notable. In her new position, Tan aims to facilitate cross-functional collaboration and enhance customer service.

Ken Lee, CEO for Asia Pacific at DHL Express, remarked, “A robust IT strategy will empower us to become more agile, reliable, and resilient. Karen’s proven track record makes her the ideal leader to take our Asia Pacific IT function to the next level.”

Tan began her career at DHL Express in 1990 and has held various roles, including Vice President of Operations Programmes for Asia Pacific. She expressed her enthusiasm for the new role, stating, “Asia Pacific is a dynamic and diverse region, and I am honoured to work closely with a passionate team committed to driving innovation and operational excellence.”

This leadership change underscores DHL’s commitment to digital innovation and talent development, aligning with its Strategy 2030 to enhance customer experience through digitalisation.
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Citi’s latest whitepaper, “Securities Services Evolution,” outlines a significant transformation in the global post-trade industry, driven by digital assets, accelerated settlements, and the adoption of artificial intelligence (AI). The report, released on 2 September 2025, highlights that 10% of global market turnover is expected to be tokenised by 2030, with 76% of respondents actively working on T1 initiatives by 2025.

The whitepaper, which surveyed 537 industry leaders, reveals that bank-issued stablecoins are anticipated to play a crucial role in supporting collateral efficiency and fund tokenisation. Additionally, the cumulative workload of T1 initiatives is at a historical high, with a focus on optimising internal processes for North American settlements.

Automation is identified as essential for T1 readiness in the UK and Europe, with improvements in operational processes and technology upgrades being key enablers. The report also notes that 86% of firms are piloting GenAI, particularly for client onboarding and post-trade operations.

Asia Pacific is leading in digital asset adoption, driven by retail cryptocurrency uptake and regulatory efforts. Chris Cox, Head of Investor Services at Citi, stated, “The industry is at the cusp of significant change as market participants intensify their focus on T1, accelerate the adoption of digital assets, and implement GenAI across their operations.”

Amit Agarwal, Head of Custody at Citi, added that custodians are expected to be the largest agents of securities tokenisation by 2030. As digital and traditional assets converge, Citi is developing innovative solutions to meet the growing demand for digital asset custody services.
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Thunes, a global money movement platform, and Ripple, a leader in digital asset infrastructure, have announced an expanded partnership to transform cross-border payments worldwide. Building on their collaboration since 2020, the partnership aims to improve customer payout experiences and broaden payout reach across key markets. By integrating blockchain and digital asset technologies, Thunes enhances its Direct Global Network, enabling more efficient and accessible payments for financial institutions and businesses globally.

The collaboration allows Ripple’s enterprise customers to withdraw funds in new currencies and countries, enhancing global payment capabilities. Thunes ensures real-time payouts in local currencies, crucial for regions with limited banking infrastructure. “Members across both the traditional finance space and the digital assets ecosystem connect with Thunes. We are in a prime position to bridge these two worlds and drive the future of digital assets,” said Chloe Mayenobe, President and COO at Thunes.

Ripple Payments, utilised by Thunes, offers fast, transparent, and reliable cross-border payments, covering 90 payout markets and processing over $70 billion in volume. Fiona Murray, Managing Director Asia Pacific at Ripple, stated, “Our partnership with Thunes accelerates our shared mission to improve the efficiency, speed, and security of global payments.”

This partnership not only facilitates seamless, low-cost transactions but also supports the growing demand for innovative blockchain-powered financial solutions globally. As the demand for digital financial services grows, the collaboration between Thunes and Ripple is set to reshape the future of global payments through blockchain technology.
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SPTel has unveiled AI-Security, an artificial intelligence tool designed to enhance the cybersecurity capabilities of small and medium-sized enterprises (SMEs) in Singapore. Launched on 3 September, AI-Security aims to help SMEs swiftly identify and assess cyber risks in a cost-effective manner.

AI-Security provides round-the-clock monitoring of cybersecurity advisories and vulnerabilities, cross-referencing them against an SME’s digital infrastructure. Upon detecting a threat, the tool issues immediate alerts, allowing engineers or network service providers to respond promptly. This system classifies threats using the SME’s risk matrix, aligning with risk policies and prioritising responses to optimise resource allocation. Heng Kwee Tong, Head of Engineering and Corporate IT at SPTel, stated, “With AI-Security, we are giving SMEs a powerful AI tool that moves cybersecurity beyond reactive protection to proactive intelligence.”

Developed in collaboration with technology provider 1CloudStar, AI-Security is hosted on SPTel’s edge cloud, ensuring data sovereignty and enhanced physical security within Singapore. Mike Li, Founder and CEO of 1CloudStar, emphasised the tool’s focus on empowering rather than overwhelming SMEs.

The Cyber Security Agency of Singapore’s Cyber Landscape 2023 report highlights that over 80% of organisations face at least one cybersecurity incident annually. For SMEs, which often lack specialised expertise, robust cyber defence is crucial for business resilience.

To promote AI-Security, SPTel is offering 1,000 complimentary trial accounts to SME members of the Singapore Chinese Chamber of Commerce & Industry. Interested parties can learn more at SPTel’s showcase during the SME Infocomm Commerce Conference at Suntec Singapore on 3–4 September.
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MyRepublic has unveiled HaloHome, a premium managed home network and IT solution designed to meet the needs of modern, digitally demanding households. Announced on 2 September, HaloHome aims to provide enterprise-grade connectivity, reliability, and convenience for homeowners in Singapore.

As homes increasingly rely on digital technology, the demand for robust and seamless networks has grown. Ng Wey Keen, Head of Connectivity at MyRepublic, stated, “Larger homes, luxury residences, and uniquely designed flats require networks that are both robust and seamless.” HaloHome addresses these needs by offering bespoke WiFi solutions complemented by integrated IT and smart-home services, such as CCTV doorbells, to create a seamless living experience.

HaloHome combines advanced networking with a white-glove service model, ensuring every solution is tailored from consultation to installation and ongoing support. Customers are paired with a personal account manager, providing a single point of contact for personalised and efficient service. This approach ensures that homeowners’ connectivity and IT needs are expertly managed.

To enhance customer experience, HaloHome offers privileged access to a priority service channel, guaranteeing faster response times and expert support. The service includes network monitoring and periodic health checks, ensuring optimal performance and adaptability as device usage expands.

The service is now available in Singapore, with plans for phased expansion. Homeowners can explore personalised solutions at MyRepublic stores or online.
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Singapore’s real estate investment trusts (S-REITs) are set to benefit from a shift in US monetary policy, which is anticipated to ease in response to a slowing job market. This change is expected to enhance liquidity, making S-REITs an attractive investment. Analysts maintain an “OVERWEIGHT” rating on the sector, recommending the purchase of blue-chip S-REITs such as CapLand Ascendas (CLAR), CapLand Ascott (CLAS), Keppel DC REIT (KDCREIT), Keppel REIT (KREIT), and Lendlease REIT (LREIT).

In August, the FTSE ST All-Share REITs Index rose by 2.3%. Notably, CapLand Integrated Commercial Trust (CICT) is set to gain full ownership of CapitaSpring, a premium Grade A office tower in Singapore’s central business district, by acquiring stakes from CapitaLand Development and Mitsubishi Estate Co. This acquisition, valued at $1.9b, is expected to complete in the third quarter of 2025.

CapLand Ascendas is expanding its UK logistics portfolio by acquiring two plots of freehold land in the East Midlands for $350.1m. The development of four logistics properties on these plots is projected to increase the portfolio’s asset value by 43.5% to $1.2b.

Meanwhile, Lendlease REIT is divesting the office component of Jem for $462m, leased to the Ministry of National Development. This move is expected to reduce LREIT’s aggregate leverage from 42.6% to 35% on a pro forma basis.

The anticipated US rate cuts and strategic acquisitions and divestments by S-REITs signal a promising outlook for investors.
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Nuffield Holdings has announced the addition of Liu Song and Zhang Na as strategic shareholders, marking a significant step in the company’s regional growth strategy. This move, unveiled on 2 September 2025, aims to accelerate mergers and acquisitions, scale operations, and enhance Nuffield’s leadership in Southeast Asia’s healthcare sector.

Liu Song, the founder and CEO of In Group Holdings Pte Ltd and Kamall International Pte Ltd, brings over a decade of experience in sectors such as real estate, mining, financial services, trade, and healthcare. His investment holding company, based in Singapore, is known for advancing sustainable and technology-driven ventures. Zhang Na, founder of Sing Wang Da Consultancy Pte Ltd, has extensive experience in supporting ultra-high-net-worth individuals in establishing family offices and investments in Singapore.

Nuffield Holdings’ CEO, Samintharaj Kumar, expressed enthusiasm about the partnership, stating, “Their commitment to long-term value creation combined with this new capital injection gives us the momentum to fast-track our acquisition pipeline and strengthen our footprint as a leading healthcare and dental platform across Southeast Asia and the Middle East.”

The company is evolving into the region’s largest AI-enabled Dental Support Organisation, integrating artificial intelligence into diagnostics, treatment planning, operations, and patient care. Recognised for its consistent performance, Nuffield Holdings has been listed among Singapore’s fastest-growing companies by Statista since 2019 and was named one of the High-Growth Companies Asia-Pacific 2023 by the Financial Times.

As part of its growth phase, Nuffield Holdings is inviting investment pitches from entrepreneurs and healthcare innovators in dental and medical clinics, HealthTech start-ups, and platform technologies. The company offers not just funding but also partnership infrastructure and operational experience.
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Personal loan rates in Singapore have reached a five-year low, dropping below 2% per annum (pa) for the first time since 2020. This significant decrease presents a potentially advantageous opportunity for consumers considering debt consolidation, home improvements, or major personal expenses. According to a review by personal finance platform SingSaver, the rates have steadily declined from an average of 3.88% pa between 2020 and 2023 to as low as 1.85% pa in 2025.

The review highlighted the current personal loan rates from major banks in Singapore. United Overseas Bank (UOB) offers a rate of 1.85% pa with an effective interest rate (EIR) of 3.40%, whilst DBS Bank provides a rate of 1.99% pa with an EIR of 4.17%. OCBC Bank and Standard Chartered offer rates of 1.98% pa and 1.90% pa, with EIRs of 4.19% and 3.63%, respectively. This marks a sharp decline from previous years, with DBS maintaining a consistent rate of 3.88% pa from 2020 to 2023 before dropping to 2.68% pa in 2024 and further to 1.99% pa in 2025.

The current sub-2% offerings could result in significant interest savings over a typical three to five-year loan term. SingSaver’s analysis suggests that for financially disciplined individuals, this could be a strategic time to secure lower-cost credit. However, the decision to borrow remains personal, and responsible borrowing and careful comparison are essential. For more information on current offers and terms, consumers are encouraged to visit SingSaver’s Personal Loan Comparison Tool.
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