Industry News

Global Asset Solutions has appointed Leanne Reddie as its new chief commercial officer as the company opens a new office in Singapore to support its growth in the Asia Pacific region. Reddie, who previously held the same position at Chedi Hospitality, brings 25 years of experience in the hospitality industry, having worked with Emirates Airlines, Jumeirah Group, and Rosewood Hotels & Resorts.

Reddie’s extensive background includes a Masters of Business from Murdoch University and qualifications in hotel real estate investments and asset management from Cornell University. Her expertise spans Europe, the Middle East, Africa, China, and Asia Pacific, where she has successfully led teams and managed hotel openings.

Alex Sogno, CEO of Global Asset Solutions, expressed enthusiasm about Reddie’s appointment, stating, “We are thrilled to have someone of Leanne’s calibre joining the team in this latest phase of growth.” Reddie herself commented, “I am looking forward to working with the team and using my knowledge of portfolio management, brand strategy, revenue optimisation, and digital transformation.”

The move into Singapore follows Global Asset Solutions’ merger with Perceptions Hospitality, significantly expanding its presence in the region with nearly 60 luxury and upper-upscale hotels added to its portfolio. The company also released market research indicating that luxury and upscale assets accounted for almost 85% of hotel investments in Asia Pacific during 2024, driven by increased liquidity and a strong dollar.

Global Asset Solutions continues to provide independent hotel asset management services worldwide, managing over $20bn in assets across Europe, Asia, and the Middle East.

Singapore Post Limited (SingPost) is set to launch Speedpost Direct International Retail on 15 September 2025, a new shipping solution tailored for retail customers. This initiative comes in response to recent changes in US import regulations, which have eliminated de minimis exemptions for shipments. The service offers a Delivery Duty Paid (DDP) solution, ensuring compliance with the new rules and providing transparency at every step.

The Speedpost Direct International Retail service allows retail customers to send parcels to the US using standard packaging options provided by SingPost. Customers can choose between an envelope or a box, both available at fixed rates: S$29 for items up to 0.5kg and S$69 for items up to 2kg. Each shipment’s value must not exceed $100 (US$100). Neo Su Yin, Group Chief Operating Officer at SingPost, highlighted the service’s core benefit: “Our post office staff will assist customers in calculating and collecting all necessary duties and taxes upfront, eliminating the surprise of unexpected fees for the recipient.”

The service covers over 80% of typical shipment sizes to the US. For packages exceeding 2kg or valued over $100 (US$100), customers are advised to use the premium Speedpost Express International service, which offers express delivery within three to six days.

This launch follows significant changes in US customs policy, effective 29 August 2025, which now subjects all commercial items to duties and taxes. SingPost’s new service aims to protect customers from potential delays or parcel seizures, providing a reliable alternative as postal networks adapt to the new requirements.
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Lion TCR, a clinical-stage biotechnology company that originated from the Agency for Science, Technology and Research (A*STAR) in Singapore, has achieved a significant milestone with the US Food and Drug Administration (FDA) granting Investigational New Drug (IND) clearance for its TCR-T cell therapy, LioCyx-M004. This clearance allows the initiation of phase 1b/2 clinical trials for chronic hepatitis B (CHB), following earlier Fast Track and Orphan Drug designations for hepatitis B virus-related hepatocellular carcinoma (HBV-HCC).

The IND clearance is a pivotal step for Lion TCR, as it marks the first TCRT therapy to enter clinical development for CHB, a condition affecting over 290 million people globally. CEO Xiaoming Peng highlighted the transformative potential of LioCyx-M004, stating, “This triple recognition from the FDA underscores the transformative potential of LioCyx-M004 and validates our strategic approach targeting HBV-associated diseases through TCRT cell therapy.”

LioCyx-M004 is an innovative autologous cell therapy, engineered using mRNA to encode T-cell receptors that specifically target hepatitis B virus antigens. Preclinical studies have shown its ability to reduce viral antigen load and promote T-cell-mediated clearance of infected cells, maintaining a favourable safety profile. Chief Medical Officer Tina Wang noted, “Our ability to successfully redirect our lead candidate from oncology to virology demonstrates the remarkable versatility and broad therapeutic potential of our platform.”

Lion TCR’s approach offers advantages over traditional ex vivo T cell therapies, including shorter production cycles and reduced costs, potentially expanding treatment accessibility. The company is also enhancing its AI-powered TCR discovery platform to address additional solid tumour indications, such as lung, breast, and gastrointestinal cancers.
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MVGX Tech Pte Ltd, a leader in sustainability compliance technology, has released its inaugural Sustainability and Impact Report for 2024, marking a significant milestone with the achievement of a “Gold” Decarbonisation Rating from TÜV SÜD. This accolade underscores MVGX’s commitment to advancing sustainability through innovative solutions and responsible practices.

The report outlines MVGX’s impact across various sectors, including finance, heavy industry, and small and medium-sized enterprises (SMEs). It highlights the expanded adoption of MVGX’s Carbon Management System and the launch of Asia’s first commercial Carbon Border Adjustment Mechanism compliance tool. Additionally, the company has introduced AI-driven auto-reporting aligned with international standards, enhancing transparency in sustainability disclosures.

MVGX’s efforts in capacity building are evident through the MVGX Carbon Academy, which has trained boards and executives in Malaysia, Indonesia, and beyond. The report also discloses Scope 1-3 emissions across Singapore, China, and Malaysia, showcasing the company’s preparation for carbon neutrality through verified offsets.

The “Gold” Decarbonisation Rating, achieved on 5 September 2025, reflects MVGX’s strong alignment between strategy and execution. The rating, verified by TÜV SÜD, highlights the company’s success in reducing value chain emissions and its positive impact on downstream customers. MVGX CEO Lily Hong expressed pride in the recognition, stating, “This recognition is a powerful testament to our team’s collective efforts.”

A subsidiary of Alpha Ladder Group, headquartered in Singapore, MVGX continues to pioneer sustainability compliance solutions across the Asia-Pacific region, offering services such as digital measurement, regulatory compliance reporting, and carbon credit advisory. The company’s proprietary AI models and extensive emissions factor database streamline sustainability compliance, making it accessible and cost-effective for businesses.
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The Singapore Maritime Foundation (SMF) has awarded 60 MaritimeONE Scholarships, valued at $1.08m (S$1.48m), to tertiary students at the MaritimeONE Scholarship Awards Ceremony 2025. This initiative, supported by 39 organisations from various maritime sectors, aims to cultivate a future-ready workforce. The event was attended by Baey Yam Keng, Minister of State for Culture, Community and Youth, and Transport.

The scholarships highlight the maritime industry’s commitment to nurturing talent across a range of disciplines, including accountancy, business analytics, computer science, and law, alongside traditional maritime studies. This reflects the sector’s shift towards digitalisation and sustainability. Since its inception in 2007, the programme has awarded over 700 scholarships, totalling more than $13.9m (S$19m).

In addition to financial support, scholars benefit from internships, networking events, and mentorship programmes, ensuring they are well-prepared for industry challenges. Thirteen leading maritime companies have signed Memoranda of Understanding with SMF, pledging multi-year support for the scholarship and talent development initiatives.

Elicia Chan, a scholarship recipient, expressed her ambition to contribute to sustainable supply chain solutions. Similarly, Lim Jia Huey Sally, transitioning from aviation, aims to drive decarbonisation in maritime operations. Mohamad Ilham Bin Mohamad Ibrahim, another recipient, aspires to become a deck officer, highlighting the industry’s global impact.

Hor Weng Yew, Chairman of SMF, thanked the sponsors, emphasising their role in fostering a resilient and innovative maritime sector. The scholarships underscore the industry’s dedication to developing a skilled workforce to navigate future challenges.
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SPTel and iWOW Technology have announced a partnership to expand the wireless Alert Alarm System (AAS) initiative, aimed at providing emergency assistance to seniors living in public rental flats across Singapore. This marks the first deployment of SPTel’s island-wide LoRaWAN network for emergency assistance, building on iWOW’s successful pilot in 2019.

The AAS enables seniors to receive prompt help during emergencies through alert buttons in their homes, which connect to a 24/7 emergency hotline. SPTel will supply its LoRaWAN-powered sensor network, multi-network SIM solution, and IoT-as-a-Service (IoT-a-a-S) platform, whilst iWOW will provide the alert buttons. Titus Yong, CEO of SPTel, stated, “Our sensor network infrastructure, IoT platform and Multi-Network SIM solutions are designed to enable IoT applications to scale securely, rapidly and cost-effectively.”

The initiative is particularly timely as Singapore is set to become a super-aged society by 2026. Jer Yaw Chen, Senior VP of iWOW Technology, emphasised the urgency, noting, “The urgency to ensure seniors can age safely and independently at home has never been greater.”

SPTel’s IoT solutions include a LoRaWAN sensor network that supports long-range data transmission and low power consumption, allowing devices to operate for up to five years without replacement. The IoT-a-a-S platform facilitates the integration and management of these devices, whilst the multi-network SIM ensures uninterrupted connectivity by switching between Singapore’s major mobile networks if needed.

The deployment of the wireless AAS is underway and is expected to be completed by 2030, promising enhanced safety and independence for Singapore’s ageing population.
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Seatrium Limited has announced that the Singapore Court has dismissed its appeal to prevent a payment under a US$ 126.6m standby letter of credit (SBLC) related to a rig contract dispute. This decision entitles the customer to receive payment, which Seatrium had previously accounted for in its financial provisions. The company, however, plans to continue pursuing claims through arbitration to resolve the contractual dispute and seek recovery of the payment.

The litigation involves a majority-owned joint venture company of Seatrium, which inherited the case prior to a merger. The dispute centres on the validity of contract value adjustments due to cost escalation, which were challenged by the customer. Despite the court’s decision, Seatrium assures stakeholders that there will be no adverse impact on its consolidated earnings per share or net tangible assets per share for the financial year ending 31 December 2025.

Seatrium, a global player in offshore, marine, and energy engineering solutions, remains committed to updating stakeholders on any material developments in the legal proceedings. The company advises shareholders and potential investors to exercise caution and seek professional advice when dealing with its securities.
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Morgan Stanley Research has unveiled a report detailing Singapore’s ongoing efforts to enhance shareholder value in its listed companies. Following a speech by Chee Hong Tat, Minister for National Development and Deputy Chair of the Monetary Authority of Singapore (MAS), at the Singapore Institute of Directors, the report outlines measures aimed at unlocking value in large-cap companies such as DBS, CapitaLand Investment, and Singtel.

The report anticipates that these reforms will elevate returns on equity (RoE) from 12%-14% and increase price-to-book (P/B) multiples to 2.3x. The Singapore Exchange (SGX) is expected to be a primary beneficiary as trading volumes rise. Other large-cap companies, including CapitaLand Investment, Keppel, ST, and STE, are also poised to benefit from a reduced cost of equity.

Chee Hong Tat emphasised the importance of companies communicating future strategies and maintaining a commitment to sustained returns. The Review Group is developing a comprehensive package to support these initiatives, with further details expected by the end of the year. The package will include grants and measures to enhance strategic thinking, communication, and collaboration among companies.

Morgan Stanley’s report also highlights the broader implications of these reforms, suggesting they will reinforce Singapore’s asset market attractiveness amid global diversification away from the US dollar. The ongoing reforms are seen as a strategic move to bolster Singapore’s position in the global financial landscape, with potential long-term benefits for investors and companies alike.
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Singapore Exchange (SGX) has maintained its “Neutral” rating with a revised target price of S$17.80, reflecting an 8% upside, according to a recent report by RHB. The exchange’s strong performance in August, marked by robust securities and derivatives volumes, has led to an upgrade in forecasts for the fiscal year 2026 (FY26). This comes as SGX continues to benefit from increased small- and mid-cap flows and resilient derivatives demand.

SGX reported a securities turnover of S$33.6b in August, a 17% year-on-year increase, with the securities daily average value (SDAV) rising to S$1.60b. This growth is attributed to institutional investors’ continued interest in small- and mid-cap stocks, supported by regulatory initiatives aimed at broadening equity participation. The report anticipates 15 new listings in FY26, bolstered by improved IPO momentum.

In the derivatives market, August saw a volume of 27.4 million contracts, with the derivatives daily average volume (DDAV) reaching 1.33 million, driven by a rally in China’s equity market. The SGX FTSE China A50 Index Futures, in particular, saw a significant 66% year-on-year increase in demand.

Despite the positive outlook, the report cautions that SGX’s valuation is nearing stretched levels. However, factors such as anticipated US Federal Funds Rate cuts and a supportive macroeconomic environment are expected to sustain trading volumes. SGX’s commitment to environmental, social, and governance (ESG) standards, with a score of 3.3 out of 4, further enhances its market position. The exchange aims to reduce its Scope 2 emissions by 42% by FY31, aligning with science-based targets.
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TVM Capital Healthcare has announced the first closing of its $150m TVM Healthcare Southeast Asia Fund, aimed at expanding healthcare access in the region. The fund will focus on high-demand areas such as post-acute care, women’s health, and local pharmaceutical manufacturing, addressing gaps in the market.

The fund’s commitments come from a diverse group of institutional investors, including cornerstone investor Invest International, which is backed by the Dutch government and FMO. This strategic partnership aims to drive sustainable economic growth and create positive social impact.

Hoda Abou-Jamra, Co-Founder and Managing Partner of Southeast Asia at TVM Capital Healthcare, emphasised the fund’s role in supporting the region’s healthcare ecosystem. “By combining capital with operational expertise and introducing proven healthcare models from around the world, we are helping to create companies that can lead nationally and regionally,” she said.

The fund will also invest in healthcare innovators from the US and Europe, facilitating their expansion into Southeast Asia. This includes building partnerships with US-based, Harvard-affiliated teaching hospitals and leading European medtech companies to transfer advanced medical technologies and best practices.

Jannie Tsuei, Partner at TVM Capital Healthcare, highlighted the unique opportunities in Southeast Asia’s healthcare sector. “With our investment strategy that combines local growth with international expansion, we can help companies scale into institutional-quality leaders delivering impactful healthcare outcomes,” Tsuei noted.

The initiative underscores the resilience of healthcare as an investment sector and its critical role in economic and social development. As the fund progresses, it aims to build healthcare infrastructure that benefits patients and supports long-term development in Southeast Asia.
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