Industry News

Singapore has emerged as the global leader in artificial intelligence (AI) mentions within job postings, with one in six listings referencing AI technologies such as machine learning, generative AI, and agentic AI, according to new data from Indeed. This trend highlights Singapore’s status as a tech hub in the Asia Pacific region.

Data and analytics roles topped the list with 57% of AI mentions, followed by software development at 39%, scientific research at 35%, and industrial engineering at 33%. Callam Pickering, Indeed’s APAC Senior Economist, noted, “The adoption of AI technologies continues to be rapid throughout Singapore, with one-in-six job postings mentioning these tools in August.”

Despite a decline in job postings, the market showed signs of stabilisation. August saw a 1.3% dip in job postings, a significant improvement from the 4.8% drop in July. Although postings are 16.2% lower than the previous year, they remain 35% above the pre-pandemic baseline of February 2020.

Essential services such as food preparation and service saw a 10.7% increase in job postings, whilst legal and personal care roles also experienced growth. Conversely, sectors like childcare and IT support faced declines, with postings dropping by 46.5% and 17.6%, respectively.

Pickering added, “Whilst hiring demand is normalising, the overall volume of opportunities continues to reflect a healthy, resilient labour market.” The data suggests that Singapore’s job market remains robust, though further declines could soften labour conditions if not stabilised soon.

Seatrium Limited has announced the sale of its AmFELS Yard in Brownsville, Texas, to Karpowership for S$65m. This strategic divestment is designed to enhance Seatrium’s capital and operational efficiencies by unlocking value from a surplus facility. The transaction, executed through Seatrium’s subsidiary, Seatrium AmFELS, Inc., involves a binding agreement with Karpower Valley LLC, a related entity of Karpowership.

Chris Ong, CEO of Seatrium, expressed confidence in the partnership with Karpowership, stating, “We have a strong and longstanding relationship with Karpowership, and are pleased to entrust the yard to a partner with whom we will continue to deepen our collaboration.” Despite the divestment, Seatrium remains committed to the US market, focusing on engineering innovation and technology capabilities to support its customers’ evolving needs.

The book value of the divested assets as of 30 June 2025 was approximately S$39m. The sale, subject to customary closing conditions, includes a deferred payment of S$50m to be settled one year post-closing. Seatrium plans to complete all ongoing projects at the AmFELS Yard by the end of 2025, ensuring a smooth transition for its customers and partners.

This move aligns with Seatrium’s broader strategy to leverage its global footprint and integrated delivery model to provide world-class solutions in the offshore and energy sectors.

Digital Edge Singapore Holdings and Hulic Co Ltd have launched TYO7, a state-of-the-art data centre in central Tokyo. Situated in Nihonbashi, the facility is strategically located just one kilometre from Japan’s central network hub at Otemachi and less than 300 metres from Digital Edge’s existing TYO2 site. This marks Digital Edge’s seventh data centre in Tokyo and ninth in Japan, highlighting its expansion in Asia’s digital market.

TYO7 is designed to cater to the increasing demand for digital services in Japan, driven by the rapid adoption of cloud and AI technologies. The facility offers high power density colocation, direct access to multiple carriers and internet exchanges, and low-latency connectivity. John Freeman, CEO of Digital Edge, stated, “With TYO7, we are delivering a network-dense, sustainable, high-performance facility.”

The project also represents Hulic’s commitment to developing next-generation infrastructure in Tokyo. Takaya Maeda, President of Hulic, expressed satisfaction with the partnership, stating, “This facility not only addresses Japan’s growing digital infrastructure requirements but also sets a new standard for environmentally responsible development.”

TYO7 is on track to achieve LEED Silver certification, reflecting its energy-efficient design and commitment to reducing environmental impact. The facility underscores Digital Edge and Hulic’s shared goal of creating long-term value for customers and the Tokyo community.

Grab Holdings and WeRide have announced the launch of Ai.R, Singapore’s inaugural autonomous vehicle (AV) service, in the Punggol area. The service will commence passenger operations in early 2026, initially featuring 11 M1-certified vehicles with safety operators on board. This development marks a significant step in Singapore’s journey towards embracing AV technology.

The global deployment of AVs is accelerating, with companies like Waymo, Tesla, Zoox, Apollo Go, and WeRide expanding their robotaxi fleets across the US, China, Hong Kong, and the Middle East, according to Maybank Research. The early adoption of AV technology is expected to bring substantial benefits to Grab, potentially saving the company approximately $71m annually and increasing its net present value by 7%.

The launch of Ai.R is part of a broader trend of AV adoption in the ASEAN region, with implications for transportation and urban mobility. As the service prepares to go live, stakeholders are keenly observing its impact on the local transport landscape and its potential to influence AV policies and practices across the region.

Coinbase has announced a strategic partnership with StraitsX to introduce XSGD, the first Singapore dollar-backed stablecoin, to its users both in Singapore and globally. Recognised by the Monetary Authority of Singapore (MAS), XSGD is compliant with the upcoming Single Currency Stablecoin regulatory framework, marking a significant step in diversifying the stablecoin ecosystem beyond USD-based options.

XSGD allows users to convert Singapore dollars to XSGD on a one-to-one basis, facilitating instant local and cross-border payments. This stablecoin aims to mitigate foreign exchange volatility and promote financial inclusion by enabling transactions in local currency. The partnership will see XSGD available on Coinbase and Coinbase Advanced from 29 September, with plans to issue it on Base, Coinbase’s Ethereum Layer 2 chain, to enhance on-chain foreign exchange transactions.

Hassan Ahmed, Country Director of Coinbase Singapore, highlighted the transformative potential of stablecoins, stating, “With XSGD live on Coinbase Singapore, we’re one step closer to making local and cross-border payments instant and accessible to everyone with a phone and wallet.”

The collaboration also involves building liquidity pools for seamless stablecoin exchanges across different currency corridors. Tianwei Liu, CEO and Co-Founder of StraitsX, emphasised the partnership’s role in breaking USD-centric barriers, saying, “This partnership brings us closer to a truly multi-currency and frictionless global financial system.”

This initiative underscores Singapore’s leadership in regulated digital finance and represents Coinbase’s ongoing expansion in the Asia-Pacific region. Further details on the partnership’s products and services will be revealed in the coming months.

UK-based engineering firm IPM Group has acquired Singapore’s Celt-tech Marine & Offshore Ltd (CTM) as part of its strategy to expand its international portfolio. This acquisition, announced today, will integrate CTM’s 15-member team into IPM Group, strengthening its service offerings in the marine and offshore sectors across Asia.

Randall Smith, CEO of IPM Group, highlighted the strategic nature of the acquisition, stating, “The team in Singapore continues to deliver the high-quality outcomes and consistent successes that complement the IPM Group.” The acquisition aligns with IPM’s ambitious plans to double its £27m turnover within five years, leveraging CTM’s expertise in shipbuilding, vessel repairs, and engineering design.

Chris Lewis, COO of IPM Group, expressed confidence in the collaboration, noting the shared commitment to delivering sustainable solutions globally. CTM, founded in 2020 and led by Managing Director Craig Didio and Operations Director Thomas Davies, offers a comprehensive range of services, including structural fabrication and electrical & instrumentation.

The new IPM Group office in Tuas, Singapore, is strategically located near major marine and construction yards, positioning it well for future growth.

As part of its strategic initiatives, IPM Group plans to invest in new technologies, including bespoke software for asset management and advanced welding processes, further enhancing its capabilities in the region.

Singapore’s inflation is projected to continue its downward trend into the fourth quarter of 2025, according to the latest Global Economics and Market Strategy Report by RHB Bank. The report, attributed to Barnabas Gan, Group Chief Economist and Head of Market Research at RHB Bank, maintains the full-year projections for headline and core inflation at 1.2% and 0.9%, respectively.

In August 2025, Singapore’s headline Consumer Price Index (CPI) decreased to 0.5% year-on-year, down from 0.6% in July, and below Bloomberg’s estimates of 0.6%. Core inflation also eased to 0.3% year-on-year from 0.5% in July. These figures suggest a continued moderation in inflationary pressures.

As the Monetary Authority of Singapore (MAS) prepares for its policy review in October, RHB Bank’s base case anticipates no changes to the current policy parameters through the end of the year. However, there is a possibility that the Singapore dollar nominal effective exchange rate (S$NEER) slope could flatten, reflecting a balance of risks.

This outlook is significant as it indicates a stable economic environment, potentially influencing monetary policy decisions and economic planning. The easing inflation could provide relief to consumers and businesses, fostering a more predictable economic landscape.

The Singapore Business Federation (SBF) led a 27-member delegation to Egypt on 21 September 2025, coinciding with President Tharman Shanmugaratnam’s state visit. The mission, part of the Overseas Market Workshop, aimed to deepen Singapore’s business ties with Egypt, a key gateway to the Middle East and Africa. The highlight was the Egypt-Singapore Business Forum in Cairo, attended by President Tharman, where five Memoranda of Understanding (MoUs) were signed between Singaporean and Egyptian companies.

The forum featured keynote addresses from notable figures including Masagos Zulkifli, Singapore’s Minister for Social and Family Development, and Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade. These discussions emphasised Egypt’s strategic role as a trade hub and explored opportunities for Singaporean businesses in the region. Delegates engaged in business-to-business matchmaking and met with key stakeholders such as the General Authority for Investment and the Suez Canal Economic Zone.

SBF Chairman S. S. Teo highlighted the mission’s significance, stating, “Egypt’s rapid transformation and ambitious development agenda under Vision 2030 present a wealth of opportunities for Singapore companies.” The delegation, representing sectors like logistics, infrastructure, and renewable energy, also visited the Suez Canal Economic Zone to explore investment opportunities.

This initiative underscores the strengthening of economic ties between Singapore and Egypt, paving the way for future collaborations and enhanced market access in Africa and the Middle East.

The Monetary Authority of Singapore (MAS) and the China Securities Regulatory Commission (CSRC) convened their 9th annual Supervisory Roundtable in Datong, China. Co-chaired by MAS Deputy Managing Director Ho Hern Shin and CSRC Vice Chairman Li Ming, the event gathered regulators and industry participants to discuss capital market developments and explore opportunities for enhanced connectivity.

Key topics included derivatives regulations, investor protection measures, and the supervision of non-bank financial institutions. These discussions aimed to deepen mutual understanding of each market’s supervisory frameworks, thereby strengthening the resilience and functionality of both markets.

The roundtable also addressed the development of equity markets in China and Singapore, focusing on facilitating high-quality listings and capital raising. Industry participants highlighted progress on cross-border initiatives, such as enhanced index collaboration, to broaden product offerings and mobilise capital into the region. This initiative is seen as a step towards reinforcing Asia’s position as a key destination for global investment.

The roundtable underscores the ongoing commitment of MAS and CSRC to bolster regulatory cooperation and innovation, with implications for future growth and stability in the region’s capital markets.

AXS, Singapore’s pioneering fintech company, is marking its 25th anniversary by launching a suite of new solutions that extend beyond traditional payments into the realms of mobility, finance, and rewards. The announcement was made at the inaugural AXS Connect event, which brought together industry leaders and partners to explore the future of payments in Singapore and the region.

The new offerings include AXS Drive, which expands the company’s reach into mobility solutions, and AXS Ready Cash, its first personal finance product. Additionally, AXS is introducing next-generation kiosks designed to enhance convenience and accessibility with intuitive features. These initiatives are part of AXS’s strategy to build on its legacy of over 700 million transactions and partnerships with more than 800 businesses.

AXS’s Group CEO, Jeffrey Goh, highlighted the company’s commitment to evolving with the needs of Singaporeans. “Over the past 25 years, we’ve transformed alongside the needs of Singaporeans, whether through kiosks in the early days, mobile and digital platforms, or new services we offer today,” he stated.

The company is also expanding its cross-border payment services, having recently partnered with eft Payments (Asia) Limited in Hong Kong. This move aims to deliver smarter, more connected financial experiences across the region.

Looking ahead, AXS plans to introduce the AXS Card, focusing on customer rewards, and enhance its mobility offerings with cardless Electronic Road Pricing payments. AXS is also collaborating with Amazon Web Services to reimagine its kiosk interface, ensuring it remains user-friendly for all.

As AXS steps into its next chapter, it continues to build on its strong foundation, aiming to deliver seamless and rewarding services that support Singapore’s role in a connected regional economy.