Industry News

WRISE Group and CTF Life Bermuda have announced a strategic partnership to revolutionise wealth management and legacy planning for high-net-worth individuals worldwide. This collaboration will utilise CTF Life Bermuda’s innovative solutions to offer tailored strategies that address the evolving needs of clients in wealth, health, and legacy planning.

The partnership marks a significant development in the External Asset Management (EAM) sector, coinciding with the anticipated growth of the global insurance market for high-net-worth individuals to $139.28b by 2032. Derrick Tan, Group Executive Chairman of WRISE Group, stated, “This landmark partnership with CTF Life Bermuda is a testament to WRISE Group’s vision of creating a seamless and holistic 360-degree wealth management platform for our clients.”

The agreement, signed in Dubai, enables WRISE to expand its service offerings through a direct model that enhances client value. Meanwhile, CTF Life Bermuda will broaden its presence in key growth markets. Man Kit Ip, Executive Director and CEO of CTF Life Bermuda, expressed enthusiasm for the partnership, noting, “This strategic alliance represents a bold leap in our global expansion.”

WRISE will begin distributing a range of CTF Life Bermuda insurance products, including Universal Life Insurance, Indexed Universal Life, and Variable Universal Life, to clients in its Private and Prestige segments by the end of the year. This initiative is expected to set a new standard in meeting the holistic wealth needs of clients, offering more choice, transparency, and value globally.

ABC Impact, an impact investment firm backed by Temasek, has collaborated with DBS and UOB to introduce a US$110m (S$142m) sustainability-linked subscription loan facility. This innovative financial instrument, announced on 15 October 2025, transforms a conventional loan into one that ties financing to measurable sustainability targets.

The facility is designed for ABC Impact Fund II, which was launched in August 2023 and closed in March 2025, with assets under management exceeding US$600m. The fund, supported by investors such as Temasek and the Asian Development Bank, aims to channel capital towards projects with significant social and environmental impacts. The loan requires portfolio companies to meet sustainability performance targets, including reducing greenhouse gas emissions and reaching beneficiaries in sectors like agriculture, healthcare, and education.

Sugandhi Matta, Chief Impact Officer at ABC Impact, highlighted the milestone, stating, “This sustainability-linked loan marks an important milestone in ABC Impact’s journey.” She emphasised the alignment of financial management with the firm’s mission to deliver positive outcomes across Asia.

DBS’s Simon Ong noted the partnership’s role in financial innovation, whilst UOB’s Edmund Leong underscored the importance of strategic collaborations in addressing regional challenges. This initiative sets a new benchmark for integrating sustainability into financial structures, reinforcing the commitment to societal progress and environmental stewardship.

Aon plc has released its 2026 Global Medical Trend Rates Report, indicating that employee medical plan costs in the Asia Pacific (APAC) region are expected to stabilise with an 11.3% increase. This follows two years of significant rises. Key markets such as China, India, Singapore, the Philippines, and Vietnam are forecasting lower increases than in 2025. The global average medical trend rate is projected at 9.8%.

Medical trend rates, which represent the annual percentage increase in medical plan costs per employee, are crucial for organisations to budget and adapt their benefits strategies. Tim Dwyer, head of Human Capital for APAC at Aon, noted, “The challenge and opportunity for employers lies in moving from reactive cost control to proactive health strategy.”

Approximately one third of APAC markets anticipate a slight decrease in trend rates, driven by moderated utilisation and wellbeing initiatives. However, the remaining two thirds face upward pressure due to chronic disease burdens and increased healthcare utilisation. Cardiovascular diseases, gastrointestinal conditions, and cancer are the primary medical conditions influencing costs.

Employers are responding by adopting flexible benefit plans and wellbeing programmes. Alan Oates, head of global benefits for APAC at Aon, emphasised the importance of leveraging data and partnering with insurers to support a healthier workforce.

The report is based on insights from over 100 Aon offices, reflecting expectations from interactions with clients and carriers across the region.

NTT DATA and Fortanix have announced a global partnership to launch a Cryptography-as-a-Service offering, aimed at helping enterprises secure sensitive data against emerging AI threats and prepare for post-quantum cryptography challenges. The collaboration combines Fortanix’s Data Security Manager Platform with NTT DATA’s cybersecurity expertise to provide a comprehensive solution for data protection across AI, cloud, and hybrid environments.

The new service focuses on several key areas, including unified encryption and compliance, crypto-agility for quantum readiness, and data sovereignty and privacy. It offers centralised visibility and policy control, simplifying audits and regulatory requirements. The Fortanix platform, powered by Confidential Computing technology, ensures data is protected at rest, in motion, and in use, allowing enterprises to transition smoothly to quantum-resistant cryptography.

Cathy Huang, senior research director at IDC, emphasised the importance of preparing for the post-quantum era, stating that organisations must begin with cryptographic discovery and risk assessments. Sheetal Mehta, Head of Cybersecurity at NTT DATA, highlighted the pressure on enterprises to safeguard data whilst navigating AI opportunities and risks.

The partnership targets highly regulated industries such as financial services, healthcare, government, and telecommunications. Key use cases include multicloud key management, post-quantum readiness, and secure AI and machine learning processes.

Anand Kashyap, CEO of Fortanix, noted that the partnership empowers enterprises to manage cryptographic risks proactively, leveraging industry-leading Confidential Computing technology. This collaboration aims to future-proof data security strategies and ensure business continuity as organisations transition to quantum-safe standards.

The Housing & Development Board (HDB) has announced its final Build-To-Order (BTO) sales exercise for 2025, unveiling ten new projects with approximately 9,144 flats across eight towns. This significant launch marks the debut of public housing in the Greater Southern Waterfront and Mount Pleasant, areas poised for growth and development.

The introduction of these new BTO projects is expected to influence both private homeowners and new flat applicants. Christine Sun, Chief Researcher & Strategist at Realion (OrangeTee & ETC), noted that high demand could drive unsuccessful applicants towards the secondary market, impacting private homes and HDB resale flats nearby. The addition of amenities, such as pre-schools and healthcare facilities, is anticipated to enhance the appeal of these areas, catering to diverse demographic needs.

Among the projects, Berlayar Residences in the Greater Southern Waterfront is expected to attract significant interest. Offering around 880 units, it is conveniently located near Telok Blangah and Labrador MRT stations. Similarly, Redhill Peaks, with 1,021 units, is strategically positioned near Redhill MRT and Bukit Merah Town Centre, appealing to young families due to its proximity to schools.

Mount Pleasant Crest, featuring 1,348 units, introduces the “white flat” layout, offering homeowners flexibility in customising their living spaces. This project is close to reputable schools, making it attractive to families.

With shorter completion periods for about a third of the flats, areas like Telok Blangah, Bukit Merah, and Mount Pleasant are expected to see heightened competition. This BTO exercise not only addresses housing needs but also aims to create balanced and inclusive living environments across Singapore.

The OCBC SME Index for the third quarter of 2025 held steady at 50.5, indicating continued expansion, as reported by OCBC Bank. This stability reflects a robust performance in externally oriented sectors such as Wholesale Trade, ICT, and Manufacturing, which saw significant growth in collections and payments. However, domestic-facing industries like Food & Beverage and Building & Construction experienced contractions due to softer local demand.

The GDP growth Nowcast, based on the OCBC SME Index, suggests a growth rate slightly above 3.5%, a decrease from the previous quarter’s 4.4%. This aligns with the Ministry of Trade and Industry’s GDP advance estimates, which moderated to 2.9% in the same period. Eric Ong, Head of Enterprise Banking at OCBC, noted, “As global trade dynamics continue to evolve, we expect the outlook for SMEs to ease in the coming quarters as they contend with challenges from supply chains and US tariffs.”

Looking forward, SMEs are expected to face a more challenging environment. Cautious consumer sentiment and the normalisation of tourism growth are likely to impact consumer-facing sectors. Additionally, ongoing US tariff issues have affected 44% of SMEs, prompting many to explore alternative markets. Despite these challenges, opportunities remain in AI-related applications and manufacturing, offering potential growth for SMEs willing to pivot.

The OCBC SME Business Outlook poll revealed that 53% of SME business owners expect conditions to remain the same or worsen over the next six months, whilst 47% anticipate improvement. This sentiment reflects the mixed performance across sectors, with externally oriented industries showing resilience and domestic sectors grappling with cost pressures and weaker demand.

Trip.com Group and Google have unveiled a new report, “Why Travel?”, which identifies five major trends set to shape consumer travel in 2026 and beyond. The report, combining Trip.com’s booking data with Google’s search insights, highlights a shift towards experience-focused journeys driven by expression, purpose, health, connection, and technology.

The report reveals that travellers are increasingly seeking “fork-first” travel, with Singapore ranking among the top three destinations for food-related experiences. Food-related bookings on Trip.com have surged by 43% year-on-year. Additionally, wellness travel is on the rise, with searches for “onsens” in Singapore increasing by 80% as travellers prioritise healing and restoration.

Connection through shared experiences is also a significant trend, with two-thirds of travellers willing to travel abroad for concerts. Endurance sports tourism has seen a fivefold increase, with searches for “Hyrox” and “marathon” in Singapore growing by 100% and 143% respectively.

The report also highlights the growing importance of technology in travel. Searches for “help planning my trip” have risen by 190%, and bookings for immersive attractions like the Las Vegas Sphere have skyrocketed by 4014%. Joyce Zhang from Google noted that AI tools are becoming essential in helping travellers plan and make decisions.

Edmund Ong of Trip.com Singapore emphasised the importance of these insights in evolving travel offerings to meet consumer needs. As community and AI-driven travel become core motivators, Trip.com is expanding its AI-driven planning tools to deliver personalised journeys. The future of travel, the report suggests, will be driven by emotional alignment, cultural fluency, and tech-enabled flexibility.

Trust Bank Singapore has unveiled a significant expansion of its TrustInvest service, launching a new trading platform for US stocks and exchange-traded funds (ETFs). This development marks the first time a banking app in Singapore will offer fractional trading, allowing customers to invest in smaller portions of shares, thereby broadening their investment opportunities.

The platform, accessible via the Trust App, enables users to buy and sell US stocks and ETFs, which are investment funds traded on stock exchanges. ETFs offer an efficient way for investors to diversify their portfolios by investing in a variety of assets through a single transaction. These can include index-trackers, digital asset funds, and sector-specific investments.

Fractional trading is particularly noteworthy as it allows investors to purchase portions of shares rather than whole shares, making it more affordable to invest in high-value stocks like Netflix or Meta, which can cost over S$500 per share. This feature is designed to make investing more accessible and flexible for all customers.

The waitlist for the new trading platform opens today, with customers set to receive invitations to open trading accounts in the coming weeks. Trust Bank CEO Dwaipayan Sadhu expressed enthusiasm about the expansion, stating, “Following the success of our initial TrustInvest launch, we are excited to expand our offering so that customers can trade US stocks and ETFs. Offering fractional trading means that all our customers can access a wide range of investments, with the confidence of doing so through an easy to use and seamless banking app.”

This initiative is part of Trust Bank’s ongoing efforts to simplify and enhance the investment experience for its users, making it more seamless and secure.

The Housing Development Board (HDB) is set to launch 9,144 flats across 10 projects in its October 2025 Build-To-Order (BTO) exercise, marking the largest BTO offering since November 2022. This significant release includes a 5 percentage point increase in allocation for second-timers, potentially boosting applications from this group.

Among the offerings, 3,294 flats across four projects will feature a shorter waiting time of less than three years, which could attract demand from the resale market and help stabilise resale prices. The exercise includes projects in Bishan, Mount Pleasant, and Telok Blangah, with expectations that the total number of applicants could exceed 20,000.

The October 2025 BTO exercise categorises the flats into three types: Prime, Plus, and Standard. Prime flats account for 3,787 units (41.4%), Plus flats for 1,425 units (15.6%), and Standard flats for 3,932 units (43.0%).

In Bukit Merah, two projects, Redhill Peaks and Berlayer Residences, are anticipated to be popular. Redhill Peaks, a former Selective En bloc Redevelopment Scheme (SERS) site, offers proximity to amenities and transport links. Berlayer Residences, located at the former Keppel Club site, promises high demand due to its prime location and potential views of the sea or city.

Mount Pleasant Crest in Toa Payoh and Bishan Terraces are also expected to draw significant interest. Mount Pleasant Crest benefits from excellent transport links, whilst Bishan Terraces is strategically located near Bishan centre and MRT interchange.

The largest project, Oak Ville @ AMK in Ang Mo Kio, is a Plus flat development, offering numerous educational facilities nearby. Meanwhile, Standard flats in Yishun, Jurong East, and Sengkang provide diverse options for potential homeowners.

As the October 2025 BTO exercise unfolds, the increased allocation for second-timers and the variety of projects available are likely to influence the dynamics of Singapore’s housing market.

Workday, Inc., a leading AI platform, has released a report revealing that whilst AI agents are increasingly integrated into Singaporean workplaces, employees desire clear boundaries. The study, titled “AI Agents Are Here – But Don’t Call Them Boss,” highlights that 83% of Singaporean workers are comfortable collaborating with AI agents, yet only 8% are willing to be managed by them. This presents a challenge for businesses to leverage AI’s capabilities without compromising the human element.

The report indicates that 79% of organisations in Singapore are either deploying or operating AI agents, particularly in finance and human resources. However, ethical, security, and governance concerns are significant barriers to wider adoption, especially in sensitive areas like finance and compliance.

Jess O’Reilly, general manager of ASEAN at Workday, emphasised the importance of using AI as a partner rather than a leader, stating, “To drive productivity and trust, it is important that we rely on AI as a partner rather than a leader.”