Industry News

Busways Pte Ltd has announced partnerships with leading industry players to develop a state-of-the-art electric vehicle (EV) charging hub in Senoko, Singapore, set to launch in December 2025. This initiative aims to enhance Singapore’s EV charging infrastructure by integrating renewable energy systems, battery storage, and digital management tools to support a variety of vehicles, including passenger cars, buses, and heavy-duty lorries.

The collaboration involves key partners such as Cantal Electric, Schneider Electric Singapore, and StarCharge Energy, focusing on areas like smart software, power distribution, and renewable energy integration. Busways CEO Martin Toh stated, “Singapore is a natural hub for innovation and sustainability, and we see tremendous potential to shape the future of electric mobility here.”

The hub will feature DC fast charging technology, photovoltaic solar panels, wind turbines, and battery energy storage systems to ensure efficient and reliable energy use. This project underscores Busways’ commitment to sustainable transportation and aims to meet the growing demand for scalable and efficient EV charging solutions in Singapore.

Busways, established in 2006, specialises in electrical power distribution and EV charging infrastructure. With over 300 employees, the company is recognised for its commitment to safety and innovation, holding several ISO certifications and industry awards. This new venture is expected to significantly contribute to Singapore’s transition towards cleaner and smarter transportation solutions.

FedEx has launched the FedEx Import Tool in Singapore, a digital solution designed to simplify cross-border shipping for businesses. As Singapore’s imports reached S$611.4b in 2024, the demand for efficient customs clearance is growing. The tool offers a unified self-service platform for document management and shipment tracking, providing importers with greater end-to-end visibility.

The FedEx Import Tool features a dashboard with real-time clearance tracking, allowing users to monitor shipments up to 90 days post-pickup. It also sends proactive notifications via email and mobile to expedite the clearance process and reduce delays. Additionally, the tool facilitates convenient GST duties and taxes payment directly from the shipment’s tracking page on FedEx’s website.

Eric Tan, managing director of FedEx Singapore, stated, “Singapore’s position as a global trade hub calls for logistics solutions that harness innovation to address growing complexities. The FedEx Import Tool does exactly that, using digital technology to streamline customs processes, increase transparency, and give importers the tools to manage their shipments with confidence.”

This launch is part of FedEx’s broader mission to make supply chains smarter. Earlier this year, FedEx introduced the Collaborative Shipping Tool in Singapore, enhancing efficiency in the import process. Other digital solutions include FedEx Ship Manager, which aids small businesses and e-commerce merchants in managing shipments online, and FedEx Ship Manager Lite for mobile shipment arrangements.

FedEx continues to leverage advanced technologies, such as machine learning, to provide customers with precise delivery windows and enhance its global network.

Singlife, a leading financial services company, has partnered with Circles Group to introduce two new insurance products for small and medium-sized enterprises (SMEs) in Singapore. The offerings, Singlife – Circle Complete and Singlife – Circle Cyber, aim to provide comprehensive protection against business liabilities and cyber risks, allowing SMEs to focus on growth and continuity.

Singlife – Circle Complete is a pioneering solution that consolidates essential business liability coverage into a single policy. This includes professional indemnity, directors and officers liability, crime insurance, and employment practices liability. SMEs can tailor their coverage to suit their specific needs, ensuring flexibility as their business evolves.

Singlife – Circle Cyber is designed to shield SMEs from cyberattacks, offering financial protection and practical support such as vulnerability scans and 24/7 incident response services. This helps businesses quickly identify and respond to threats without needing extensive in-house expertise.

Kenneth Tan, Co-Regional Director Asia Pacific of Financial Lines at Circles Group, highlighted the partnership’s significance: “There is a massive gap in offerings for SMEs in Singapore to manage legal liabilities and cyber incidents in-house. We are excited to partner with Singlife to offer digital insurance solutions tailored towards business owners.”

These new products are set to provide SMEs with the necessary safeguards to protect their assets and reputation, ensuring business continuity with peace of mind.

Carro has raised US$60 million in a funding round led by Cool Japan Fund, Japan’s sovereign wealth fund. The investment aims to bolster the demand for Japanese cars across the Asia Pacific region, where Carro operates. Aaron Tan, cofounder and CEO of Carro, highlighted the reliability and advanced technologies of Japanese cars, including fuel cell innovations and superior safety features, as key factors in their market appeal.

The capital injection will be used to showcase Japan’s advanced automotive technologies and increase the market share of Japanese Plug-in Hybrid Electric Vehicles (PHEVs). The demand for both used cars and new PHEVs is expected to grow, particularly in Southeast Asia, driven by economic expansion, a rising middle-income population, and government subsidies for electric vehicles in countries like Indonesia and Thailand.

Kenichi Kawasaki, president, CEO, and COO of Cool Japan Fund, stated that the investment aims to reinforce the value of Japanese cars by highlighting their advanced technologies. Cool Japan Fund, established in 2013, focuses on expanding overseas demand for Japanese products and services, contributing to Japan’s economic growth.

Founded in 2015, Carro has become Asia Pacific’s largest online used car marketplace, transforming car buying and selling with proprietary pricing algorithms and AI-enabled solutions. The company, headquartered in Singapore, transacts over 100,000 vehicles annually across seven markets and offers a range of services, including auto fintech, digital insurance brokerage, and aftersales service.

OCBC has announced its ambitious plan to accelerate the growth of 10,000 women-owned small and medium enterprises (SMEs) across its core markets by 2030. The initiative will provide social loans through dedicated SME programmes in Singapore, Malaysia, Hong Kong, and Indonesia. As of June 2025, OCBC has already supported over 2,000 women-owned SMEs with loan commitments totalling nearly $600 million.

The bank’s programmes, including the OCBC Women Unlimited Programme and the Women Warriors Programme, aim to enhance the socioeconomic advancement of women and strengthen the resilience of their businesses. Women-owned SMEs in Singapore, for instance, can secure financing of up to $100,000 within their first two years, with waived processing fees.

OCBC’s data reveals that women-owned SMEs in Singapore typically experience 30% lower sales turnover growth in their initial years compared to male-owned SMEs. However, those securing financing have managed to bridge this gap. The bank’s efforts have resulted in a more than 20% increase in loan commitments to women-owned SMEs in Singapore within a year of the programme’s launch.

Notable beneficiaries include The Powder Shampoo and The Plattering Co., which have expanded significantly with OCBC’s support. Iris Ng, Head of Emerging Business at OCBC, emphasised the bank’s commitment to supporting women entrepreneurs, stating, “It’s been incredibly rewarding to partner with and journey alongside our women entrepreneurs.”

OCBC plans to facilitate regional events and business-matching trips to support the cross-border growth of women-owned SMEs, reflecting a 51% increase in such businesses expanding beyond Singapore from 2018 to 2023.

Cigna Singapore has partnered with iXchange, the Third-Party Administrator arm of IHH Healthcare Singapore, to introduce a groundbreaking value-based healthcare contract. This collaboration marks a shift from traditional volume-based metrics to value-driven outcomes, addressing the challenges of rising healthcare costs and increased service utilisation in Singapore.

The new contract will see IHH SG hospitals, alongside IXPL and Cigna, focusing on delivering value-based outcomes for patients. Key services will include Guarantee of Payment provision, cost control for episodes of care, and panel management, all designed to prioritise quality and efficiency over sheer volume.

Raymond Ng, CEO of Cigna Singapore, highlighted the importance of this partnership in managing inflationary pressures and rising utilisation that have been driving up insurance premiums. “By aligning our goals with healthcare providers, we aim to deliver more sustainable outcomes for our policyholders,” he stated.

Cigna members will benefit from enhanced access to a comprehensive network of trusted medical providers through iXchange. The collaboration will also streamline inpatient admissions and claims processing, ensuring fairness and transparency in billing.

The initiative will integrate hospitals, independent specialists, and payors through data-driven platforms, fostering continuous improvement and equitable outcomes. Loh Chek Chai, CEO of iXchange, emphasised the partnership’s role in creating a transparent and sustainable healthcare ecosystem, stating, “This strategic partnership with Cigna Singapore exemplifies how engagement, mutual understanding, and active collaboration can benefit all stakeholders.”

This collaboration is expected to set a precedent for future healthcare contracts, focusing on sustainable financing and high-quality care.

Singapore is emerging as a leader in the energy transition, with a significant portion of its businesses committing to renewable energy and digital innovation, according to the Asia Pacific Energy Transition Readiness Index 2025 by ABB’s Energy Industries division. The research indicates that 68% of Singaporean companies plan to allocate over 10% of their capital expenditure (CAPEX) to energy transition initiatives in the next five years.

The survey, which included over 4,000 business leaders across 10 industries and 12 markets, highlights that 30% of Singaporean firms already source more than half of their energy from renewable sources, surpassing the regional average of 25%. Furthermore, 82% of respondents expect to increase their renewable energy use by over 20% in the next five years.

Digital technologies are seen as crucial enablers of this transition, with 78% of Singaporean respondents identifying artificial intelligence (AI) and automation as key factors. Abhinav Harikumar, VP of ABB’s Energy Industries division, Southeast Asia, stated, “Accelerating progress from Singapore to the wider region requires aligning investments with transition priorities and harnessing technology as a catalyst.”

Solar energy is currently the primary renewable source for 75% of Singaporean respondents, with solar, green hydrogen, and wind identified as the top ‘game changers’ for the next five years. The findings align with Singapore’s national energy strategies, which include ambitious targets for solar capacity and low-carbon electricity imports.

The research underscores the need for coordinated action and investment to maintain Singapore’s leadership in the energy transition, with a focus on technology, infrastructure, and talent development.

The Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) have signed a Memorandum of Understanding (MoU) to bolster their cooperation in banking supervision. The agreement aims to facilitate the exchange of information and mutual assistance between the two authorities, enhancing the oversight of banks operating across both jurisdictions.

The MoU marks a significant step in the longstanding collaboration between MAS and HKMA. With both Singapore and Hong Kong hosting a substantial number of banks from each other’s territories, the enhanced cooperation is expected to improve the supervision of cross-border banking operations. This development is crucial given the prominent roles both cities play as international financial centres.

Chia Der Jiun, Managing Director of MAS, highlighted the importance of the MoU, stating, “This MOU reaffirms the strong partnership between MAS and the HKMA and paves the way for deeper collaboration, fostering supervisory cooperation, exchange of information and sharing of best practices in key areas of mutual interest between the authorities.”

Eddie Yue, Chief Executive of the HKMA, echoed these sentiments, noting that the agreement reinforces the close ties between the two authorities and enhances their ability to manage cross-border banking matters effectively.

The strengthened cooperation is expected to lead to more robust supervision of banks, ensuring stability and resilience in the financial sectors of both Singapore and Hong Kong. This initiative underscores the commitment of both authorities to maintaining high standards of banking oversight in the region.
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Chronic pain is increasingly affecting Singaporeans, with a notable rise in musculoskeletal discomfort among both younger working adults and seniors. This trend is attributed to sedentary work habits, prolonged screen time, and an ageing population, according to Singapore Paincare’s internal data from 2020 to 2024.

Lower back pain has surged by over a third among those aged 21 to 40, whilst neck pain has increased nearly 50%, often linked to poor home-office ergonomics. Additionally, headaches and migraines have doubled over the past five years. These issues highlight the importance of early attention to musculoskeletal health to support mobility and independence across all age groups.

The implications of these trends are significant for public health, as they affect productivity, daily functioning, and quality of life. Singapore Paincare emphasises the need for lifestyle awareness and early intervention to mitigate these effects. “Musculoskeletal discomfort affects all ages, including seniors, highlighting the importance of early attention and lifestyle awareness,” it states.

As Singapore grapples with these health challenges, the focus on improving ergonomics and promoting active lifestyles becomes crucial. Addressing these issues early can help maintain daily functioning and quality of life for individuals across generations.

Singapore’s co-living sector has emerged as a mature and institutionally recognised asset class, drawing over $1.02b (S$1.4b) in transaction volume since 2022, according to a recent report by JLL. The sector has maintained high occupancy rates of 85-95% despite a broader market normalisation, reflecting its resilience and growing investor confidence.

The report notes a strategic shift in investor sentiment towards stable, core-focused strategies, moving away from high-risk plays. This shift indicates confidence in the sector’s long-term viability and its integration into Singapore’s mainstream residential landscape. “The co-living sector has proven its resilience and is now a structural component of our residential landscape,” said Chia Siew Chuin, Head of Residential Research at JLL Singapore.

A significant growth driver for the sector is the demand from international students, who now make up 25 to 40% of residents for some operators. This trend is supported by projections of 6.7% annual growth in Singapore’s higher education market through 2031. Additionally, government involvement has facilitated the sector’s growth, with state-owned properties being tendered for co-living use, targeting specific demographics like students and healthcare workers.

Major operators are now focusing on acquiring and managing entire buildings for operational efficiency, whilst also offering comprehensive amenities to enhance resident experience. Investor sentiment reflects this evolution, with a notable decline in high-risk investments and a preference for core or core-plus approaches. This maturation is further evidenced by compressed return expectations, with 65% of investors targeting an Internal Rate of Return below 15%.

As the sector continues to mature, it is expected to further embed itself into Singapore’s residential landscape, driven by strategic demographic targeting and operational innovations.