Industry News

Billard Leece Partnership (BLP), a prominent architectural practice from Australia, has announced the launch of BLP Asia, marking its expansion into the Asian market with a new office in Singapore. Known globally for its innovative work in healthcare, life science, and social architecture, BLP aims to bring its expertise to the region, enhancing its presence and influence in the architectural landscape.

The decision to establish a base in Singapore reflects BLP’s strategic vision to tap into the burgeoning Asian market, which is witnessing rapid growth and development in various sectors. This move is expected to bolster BLP’s ability to deliver cutting-edge architectural solutions tailored to the unique needs of the Asian clientele.

Tara Veldman, Managing Director, and Dev Bagga, Principal and Asia Lead, are set to spearhead the operations in Singapore. Their leadership is anticipated to drive BLP’s mission of integrating innovative design with functionality, particularly in the healthcare and life sciences sectors, which are pivotal to the firm’s portfolio.

The establishment of BLP Asia is a significant step in the firm’s global expansion strategy, promising to bring a fresh perspective to architectural practices in the region. With Singapore as a strategic hub, BLP is well-positioned to influence the architectural scene across Asia, fostering collaborations and delivering projects that resonate with the region’s dynamic growth.

As BLP Asia begins its journey, the firm is poised to contribute significantly to the architectural innovation and development in Asia, aligning with the region’s aspirations for sustainable and forward-thinking infrastructure.
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Singaporean lithium-ion battery manufacturer, Durapower Holdings, has announced significant leadership changes to spearhead its next phase of growth and innovation. Alok Verma has been appointed as the new Group Chief Executive Officer, whilst James Rama Phataminviphas steps into the role of Executive Chairman, and Kelvin Lim transitions to Group President.

These changes are part of Durapower’s strategic succession planning, designed to ensure leadership continuity and introduce fresh perspectives. The company aims to meet the increasing global demand for e-mobility, stationary energy storage, and renewable energy solutions. With over 15 years of experience in automotive and clean energy innovation, Durapower has powered vehicles for over one billion electric kilometres and maintains a presence in 25 countries.

Verma brings over 20 years of experience in energy, manufacturing, and technology sectors. His previous roles include Global Vice President at BanpuNEXT, where he developed a 1.5 GW battery energy storage strategy, and senior leadership positions at Jinko Solar Australia and Honeywell International. He holds an MBA from the Indian Institute of Management, Bangalore, and a Chemical Engineering degree from the Indian Institute of Technology, Delhi.

Phataminviphas expressed confidence in Verma’s leadership, stating, “Alok is a proven leader with deep expertise in energy storage and is skilled at uniting teams around a bold vision.” Verma, in turn, emphasised his focus on operational excellence and technological innovation, aiming to build strong relationships with customers and partners.

As Group President, Lim will focus on strengthening customer and partner relationships and supporting strategic market development. Under his leadership as Group CEO, Durapower transformed from a single-market start-up into a globally recognised brand.

Durapower’s leadership transition underscores its commitment to quality, safety, and sustainability, reinforcing its role as a trusted partner in powering transport, infrastructure, and communities worldwide.
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S64, a global fintech and solutions partner for the wealth management industry, has appointed Hui Xin Tay to its Asia Distribution team. Based in Singapore, Hui Xin will focus on strengthening S64’s connections with leading private banks, wealth managers, and asset managers across Asia. Her role is pivotal in advancing S64’s innovative product manufacturing and technology solutions within the Asia-Pacific private wealth ecosystem.

Hui Xin brings a decade of experience in delivering complex financial solutions to the Asia private wealth channel. She previously held the position of Executive Director at Goldman Sachs in their Global Markets Business and has also worked at Leonteq, specialising in cross-asset structured solutions for private wealth intermediaries.

S64 is renowned for its semi-liquid evergreen private markets funds and is trusted by leading general partners, asset managers, and private banks in Europe, the Middle East, Africa, and Asia-Pacific. The company is at the forefront of innovation in private markets, offering solutions such as ELTIFs, LTAFs, and securitised solutions.

CEO of S64, Tarun Nagpal, expressed enthusiasm about Hui Xin’s appointment, stating, “Her arrival marks a significant step in our strategy to deepen partnerships with the region’s premier private banks and asset managers.” Thomas Hu, Head of Asia Pacific Distribution, added, “Her appointment reinforces our commitment to Asia Pacific as a strategic growth region.”

Hui Xin Tay commented on her new role, saying, “I am delighted to join S64 at such an exciting time for the private wealth industry in Asia.” Her appointment is expected to further solidify S64’s position as a market leader in private markets technology and solutions across Europe and Asia-Pacific.
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Thai Beverage, a leading player in the beverage industry, is maintaining its “BUY” recommendation with a target price of SGD0.65, despite anticipating slightly softer growth. The company, which has a strong presence in Thailand and Vietnam, expects its beer business to recover as demand picks up in these markets. This recovery is bolstered by increased sales points and tourism-led consumption, which are expected to drive long-term growth.

The company is currently trading at an attractive valuation of approximately 10 times its forecasted price-to-earnings ratio for the fiscal year 2026, which is significantly below its historical average of around 18 times. This valuation presents a potential upside of 40% and a forecasted yield of about 6% for the fiscal year ending September 2026.

Alfie Yeo, an analyst, highlighted the company’s robust market position and the expected continuation of its growth momentum. “We stay positive on Thai Beverage due to its strong market leadership in Thailand and Vietnam,” Yeo stated, emphasising the company’s strategic advantages.

In other news, ST Engineering has announced the divestment of its non-core stake in CityCabs, reaffirming its “BUY” status with a target price of SGD9.10. Analyst Shekhar Jaiswal noted that this move aligns with the company’s strategy to focus on core operations and enhance shareholder value.

These developments underscore the dynamic nature of the beverage and engineering sectors, with companies like Thai Beverage and ST Engineering adapting to market conditions to sustain growth and profitability. As these industries evolve, investors are advised to monitor these companies’ strategic decisions closely.
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Gavin Chia has been appointed as the Chief Executive Officer of IG Singapore & Emerging Markets, effective 1 September 2025, pending regulatory approval. This strategic move by IG Group Holdings aims to bolster its product offerings across Asia, tapping into the region’s burgeoning financial markets. Chia, who previously served as the CEO and founding employee of Moomoo Singapore, transformed it into one of the nation’s leading brokerages within four years.

Chia’s appointment is seen as a pivotal step for IG, as he is renowned for his ability to rapidly scale businesses and establish strategic partnerships with regulators and industry partners. “Singapore is a hub for increasingly sophisticated investors, and IG is well-placed to serve mobile-first clients looking for greater choice and deeper market access,” Chia stated. He emphasised the potential in emerging markets, where many individuals are accessing financial markets for the first time.

Matt Macklin, Managing Director of IG Asia Pacific & Middle East, expressed confidence in Chia’s leadership, highlighting his expertise in regulatory engagement and innovative marketing. “Gavin’s track record makes him the ideal leader to take IG Singapore and our emerging markets business to the next level,” Macklin said.

Chia’s extensive career includes senior roles at UOB Kay Hian, Haitong International, and PhilipCapital. He holds a Master of Science in Business Analytics from the National University of Singapore and a Bachelor of Engineering (Hons) in Aeronautical Engineering from Nanyang Technological University. As IG Group continues its expansion, Chia’s leadership is expected to drive significant growth and innovation in the region.
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Cata has unveiled a pioneering Software-as-a-Service (SaaS) platform designed to revolutionise the food and beverage (F&B) and retail sectors in Singapore and beyond. This innovative white-label app platform enables businesses, from small outlets to global chains, to launch their own branded mobile apps for ordering, marketing, loyalty programmes, and customer relationship management (CRM) without any upfront investment.

The platform has already been implemented by Guzman y Gomez (GYG), a fast-growing quick-service restaurant chain, across its 21 locations in Singapore. Cata’s approach allows businesses to bypass the costly and complex tech stacks typically required for sophisticated apps. “Cata was the only solution that works as a true one-stop platform,” said Josh Bell, Principal at Guzman y Gomez Singapore.

The restaurant and retail industries are at a critical juncture, with many businesses still relying on outdated systems. Cata’s platform addresses this by offering advanced digital solutions previously exclusive to giants like McDonald’s and Starbucks. This democratisation of technology is expected to generate a return on investment of up to 5-10 times for partners, through enhanced customer acquisition and retention, increased purchasing frequency, and optimised business operations.

Cata’s founder and CEO, David Brunier, highlighted the transformative potential of the platform, stating, “Offline retail is at a tipping point. The next generation of physical businesses won’t rely on POS, self-checkout terminals, or cashiers—they’ll run on mobile apps.”

With plans for aggressive expansion into Asia Pacific, Europe, and the Middle East, Cata aims to extend its reach into other sectors such as wellness, beauty, and fashion. Founded in 2024 and headquartered in Singapore, Cata is backed by prominent investors and is poised to become a key player in the digital transformation of offline businesses.
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AirBooking.com, a next-generation travel retailing platform, has been certified by Singapore Airlines as a direct New Distribution Capability (NDC) Technology and Content Partner. This certification, announced on 29 August 2025, marks a significant step in enabling API-driven distribution, offering travel agents and corporates more choice, control, and efficiency in airline retailing.

Through the KrisConnect programme, Singapore Airlines’ strategic initiative, AirBooking.com users gain real-time access to a comprehensive range of offerings, including branded fares, ancillaries, and negotiated corporate rates. The integration streamlines the booking experience, allowing users to manage post-booking changes independently within a single API-connected platform. Additionally, KrisFlyer loyalty integration ensures customers receive customised and targeted offers.

Charlene Wee, General Manager Distribution at Singapore Airlines, stated, “Our collaboration with AirBooking.com aligns with SIA’s commitment to innovation and service excellence. By working with NDC-native partners like AirBooking.com, we ensure that our travel agency and corporate partners can access richer content, dynamic fares, and tailored ancillaries—all whilst enhancing efficiency and customer satisfaction.”

AirBooking.com, built on IATA’s NDC 21.3 and ONE Order standards, provides seamless access to real-time fares and rich content from over 14 global airlines. The platform supports complete post-booking services and offers AI-powered tools for fare and policy optimisation, making booking workflows up to 40% faster. Enhanced revenue potential is also available through improved commission structures on NDC bookings.

George Rajan, Chief Experience Officer of AirBooking.com, expressed, “We are honoured to be certified by Singapore Airlines—an industry leader in passenger experience and digital transformation. Our joint vision is to replace outdated distribution models with real-time, intelligent, and secure retailing that mirrors e-commerce best practices.”
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Jiujiang’s cultural and tourism roadshow, “The Essence of Chinese Landscapes,” made a vibrant entry into Singapore on 29 August, showcasing the region’s rich heritage and scenic beauty. Held at the Orchard Hotel, the event was attended by key figures including Wang Jianxin, Director of Jiujiang Municipal Bureau of Culture, Radio, TV, and Tourism, and Xiao Fangmin, President of the National Association of Travel Agents Singapore (NATAS), alongside over 100 representatives from both countries.

The roadshow emphasised the historical and commercial ties between Jiujiang and Singapore, with Wang Jianxin inviting Singaporeans to explore Jiujiang via direct flights to Nanchang Changbei Airport. Xiao Fangmin pledged to enhance visitor exchanges, underscoring the mutual benefits of such cultural interactions.

Kuang Rongfa, Director of Lushan Municipal Bureau, highlighted the UNESCO World Cultural Landscape of Lushan through its “five Yōu themes”—history, culture, scenery, lifestyle, and serenity. Meanwhile, Wu Shuguang, Director of Lushan West Sea Bureau, unveiled the region’s thousand-island vistas and wellness retreats. Deng Feng, Party Secretary of Yongxiu County Bureau, showcased Poyang Lake’s wetlands and its kingdom of migratory birds.

The event also saw the premiere of a bespoke Jiujiang itinerary video tailored for the Singapore market. Notably, Duck Tour Singapore signed agreements with Jiangxi Yuanda International Travel and Hong Thai Travel Singapore with China Travel Service Jiujiang, marking a significant step in Jiujiang’s expansion into Southeast Asia and strengthening Belt and Road tourism cooperation.
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Citi and SMRT have announced the renewal of their partnership, marking two decades of collaboration aimed at enhancing the daily journeys of Singapore’s commuters. Originally launched in 2006, the Citi SMRT Credit Card was the first of its kind in Singapore, integrating transit fare payments with credit card benefits. Over the years, it has become a staple for consumers, offering cashback on transport, groceries, and online shopping.

Ngien Hoon Ping, CEO of SMRT Corporation, highlighted the partnership’s vision to transform commuting into a vibrant lifestyle experience. “We wanted travel on our public transport system to be more than just moving from point A to point B,” he said. Yeo Wenxian, CEO of Citibank Singapore, echoed this sentiment, noting the partnership’s commitment to embedding convenience and connectivity into the commuter journey.

The renewal comes as digital payment options gain popularity amongst Singaporeans. Between 2019 and 2024, digital wallet transactions linked to the Citi SMRT Card increased sevenfold. Additionally, cardmembers have expanded their usage into everyday spending, with a 60% rise in transactions from 2021 to 2024 across categories like groceries and online shopping.

To keep pace with evolving consumer needs, Citi and SMRT are introducing new benefits, including a limited-time offer of $400 (S$400) cashback for new cardmembers and 5% savings on Malaysian Ringgit spend. The partnership renewal will also feature promotions such as 20-cent treats from popular F&B brands and a mobile game offering vouchers from Lazada and ZALORA.
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IPI Singapore has announced a significant leadership transition with Michael Goh stepping into the role of Chief Executive Officer, effective 1 September 2025. Goh, previously the Chief Operating Officer, succeeds Wong Lup Wai, who is retiring after a transformative tenure since 2019.

Under Wong’s leadership, IPI Singapore, a subsidiary of Enterprise Singapore, has made substantial strides in enhancing its Innovation Advisory Programme and expanding partnerships both locally and internationally. Wong’s efforts have been pivotal in promoting technology adoption among Singapore enterprises and strengthening the organisation’s leadership.

Michael Goh, a founding member of IPI Singapore, brings over 19 years of experience in intellectual property, business and technology management, and commercialisation. His leadership has been instrumental in helping enterprises across various sectors, including manufacturing, medtech, and sustainability, to harness growth through strategic innovation. Goh has also spearheaded organisational development and digital transformation initiatives within IPI Singapore.

Expressing his vision for the future, Goh stated, “I want to build on the strong foundation laid by Lup Wai to position IPI as the trusted innovation partner for Singapore enterprises. Together with our team and partners, we will accelerate impactful collaborations and further cement Singapore’s role as an innovation hub.”

As IPI Singapore enters this new chapter, the organisation aims to continue its mission of empowering enterprise growth through technology and innovation, leveraging its global ecosystem and advisory services to drive commercialisation and market strategies.
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