Industry News

Singapore Post Limited (SingPost) and SkyNet Worldwide Express have announced an exclusive strategic partnership to enhance eCommerce logistics in Singapore and the wider Asia Pacific region. Effective from 1 January 2026, SingPost will serve as the exclusive partner for SkyNet in Singapore, offering a comprehensive range of international express and eCommerce services to SkyNet’s global clientele.

This collaboration aims to provide SkyNet customers with improved connectivity and speed across the Asia Pacific. Central to this initiative is the use of SingPost’s Airmail Transit Centre as a customs-bonded transshipment hub, acting as a critical gateway for regional and global express and eCommerce flows. Customers will benefit from a single technology platform, enabling access to over 180 destinations globally, and advanced solutions like Delivered Duty Paid services to simplify international shipping.

Neo Su Yin, Chief Operating Officer of SingPost, stated, “This partnership is a significant step forward in enhancing our Express and eCommerce services. By combining our comprehensive delivery network with SkyNet’s global reach, we are delivering even greater value and convenience to all our clients in Asia Pacific.”

SkyNet’s Managing Director for Asia, Chaminda Gunasekera, added, “By joining forces exclusively with SingPost, we are plugging our international reach into a team that truly knows every corner of Singapore.”

The partnership leverages SkyNet’s vast international footprint, as the world’s fifth-largest courier and express network, with SingPost’s extensive local expertise and infrastructure. This synergy is expected to significantly improve regional logistics, offering faster and more efficient opportunities for express and eCommerce clients throughout the region.

Avestar Singapore Pte Ltd, a subsidiary of Avestar Capital, has appointed Zal Devitre as its new CEO. With more than two decades of international experience in wealth and asset management, Devitre’s career spans the US, Europe, Africa, and Asia. His appointment highlights a shift in Asia’s wealth management sector towards cross-border expertise and client alignment amid evolving regulatory and investment landscapes.

Devitre’s career began as a Peace Corps Volunteer in Cameroon, where he served as a Technical Adviser to a microfinance bank, focusing on financial inclusion and community development. He later held senior leadership roles at Citibank Singapore and Schroders, where he was Head of the Global Financial Client Group for Asia. Devitre holds a bachelor’s degree in international politics from Georgetown University and an MBA from Columbia Business School.

Shilpa Konduri, President of Avestar Capital, expressed enthusiasm about Devitre’s appointment, stating, “Zal’s appointment reinforces Avestar’s mission to provide holistic, conflict-free advisory to families worldwide.” Devitre himself commented, “Avestar Capital’s independence, integrity, and global mindset truly set it apart. I’m honoured to lead Avestar Singapore and look forward to delivering innovative client-centric solutions for families across Asia and beyond.”

Under the leadership of Founder and CEO Xerxes Soli Mullan, Avestar continues to expand its global presence, focusing on serving entrepreneurs, family offices, and next-generation wealth holders. This strategic move underscores the firm’s confidence in the region’s potential and its commitment to setting new benchmarks in independent, values-driven wealth advisory.

Singapore Airlines has announced adjustments to its flight schedules for the 2026 Northern Summer season, which runs from 29 March to 24 October. The airline will increase flight frequencies and passenger capacity on several routes to meet rising travel demand. Notably, Singapore Airlines will add a daily service to Bangkok, bringing the total to seven daily flights, and increase flights to Yangon to 10 times weekly.

The airline will also enhance its Singapore-Surabaya route to 21 weekly services and increase flights to Colombo from 10 weekly services to twice daily starting 1 May 2026. Additionally, the Airbus A380 will be deployed on the Singapore-Dubai route for the first time, responding to strong demand for premium cabins.

Dai Haoyu, Senior Vice President Marketing Planning at Singapore Airlines, stated, “Singapore Airlines continually reviews our route network to align capacity with customer demand. These adjustments provide customers with more travel options and improved connectivity across key markets, particularly during peak seasonal periods.”

Further changes include delinking the Singapore-Milan-Barcelona service to offer a direct five-times weekly service to Barcelona from 1 July to 3 September. The airline will also introduce its First Class cabin on the Singapore-Amsterdam route with the Boeing 777-300ER from 1 July.

These strategic adjustments are part of Singapore Airlines’ efforts to enhance connectivity and service offerings across its global network, ensuring passengers have more travel options during the busy summer season.

HitPay, a prominent payment platform for small-to-medium enterprises, has launched Borderless QR, a new software solution designed to streamline international payments for merchants across Southeast Asia. This innovation allows merchants to generate dynamic QR codes for international visitors, enabling payments through preferred home wallets like WeChat Pay and PromptPay, with next-day settlement in local currency.

The introduction of Borderless QR is significant as it addresses the complexities faced by Micro, Small, and Medium Enterprises (MSMEs) in navigating diverse international payment standards. By consolidating these into a single, user-friendly interface, HitPay empowers its network of over 20,000 merchants to offer a seamless shopping experience to tourists, who can pay in their home currency without additional fees.

Aditya Haripurkar, CEO of HitPay, stated, “Borderless QR is about supporting the region’s spirit of collaboration by providing a streamlined checkout flow. Merchants can simply select a customer’s home country to generate a specific QR with a real-time converted amount.”

The rollout is initially focused on Singapore, Malaysia, and the Philippines, with plans for rapid scalability. Early adopters, such as lifestyle retailer The Paper Bunny, have already embraced the solution, enhancing their ability to cater to the growing number of regional tourists.

As the Southeast Asian tourist economy is projected to reach $39.52b by 2026, HitPay’s Borderless QR positions local merchants to capture this burgeoning market effectively, ensuring they remain competitive in a connected digital economy.

Manulife Singapore has launched two new participating solutions, Signature Legacy Harvest and Manulife WealthGen, aimed at supporting high-net-worth and affluent families in preserving and transferring wealth across generations. These plans address the growing need for early breakeven, liquidity, and long-term wealth preservation amidst increasing global complexity.

Signature Legacy Harvest is a USD-denominated whole life plan designed for high-net-worth customers. It offers a Bonus Realisation option, allowing policyholders to withdraw bonuses from Year 5, and boasts one of the highest Day-1 surrender values at 85% of the single premium. This provides immediate liquidity whilst maintaining investment flexibility. Additionally, the Resilience Care Benefit enables up to 100% of the terminal bonus to be withdrawn upon diagnosis of specified conditions, offering financial support during critical health events.

Manulife WealthGen, an SGD-denominated plan, targets emerging and mass affluent customers seeking long-term growth and Supplementary Retirement Scheme optimisation. It promises one of the earliest guaranteed breakeven points in the market by the end of Policy Year 5.

Both solutions feature multi-generational flexibility, allowing policyholders to change the life insured, nominate a secondary life insured, and split the policy for future generations. “Signature Legacy Harvest is built to deliver security, flexibility, and seamless wealth transfer,” said Rena Lim, Head of High Net Worth and Financial Advisory at Manulife Singapore.

Frank O’Neill, Chief Product Officer, emphasised Manulife’s commitment to providing trusted solutions for wealth and legacy planning. With over 125 years of experience in Singapore, Manulife continues to be a leader in bespoke wealth strategies, ensuring resilience and sustainability for future generations.

Savills Singapore has announced the launch of Scenery House, the final phase of the redevelopment of London’s iconic Television Centre. This new modern mansion block, designed by Stirling Prize-winning architects dRMM, completes the transformation of the former BBC headquarters into a thriving residential and cultural destination in White City.

Scenery House comprises 163 one- to three-bedroom flats, penthouses, and premium residences, arranged in a south-facing crescent around private courtyard gardens. The interiors, crafted by MSMR Architects and styled by Tatjana von Stein, offer a blend of refined materials and contemporary comfort.

The redevelopment, led by Mitsui Fudosan UK and Stanhope, has turned Television Centre into West London’s cultural core, featuring residences, offices, restaurants, leisure spaces, and creative industries. Upon completion, the site will accommodate around 1,000 residents and provide office space for 4,000 people, alongside television studios and cinemas.

Residents of Scenery House will benefit from a range of amenities, including private lounges, cinema rooms, and wellness facilities. A nearby Soho House-managed gym and swimming pool further enhance the community’s focus on wellbeing and lifestyle. The location offers excellent connectivity to the West End, the City, and Heathrow, whilst maintaining the creative spirit of White City.

Adrian Lim, Senior Director and Head of International Residential Sales at Savills Singapore, highlighted the investment potential, stating, “Scenery House offers a rare opportunity to own a home within a proven London landmark, underpinned by strong fundamentals.”

The launch event for Scenery House is scheduled for 31 January and 1 February 2026 at the Voco Orchard Hotel.

The Singapore Eye Research Institute (SERI) has achieved a significant milestone by ranking first among non-academic institutes in ophthalmology on the American scholarly analytics platform ScholarGPS. This accomplishment, announced in December 2025, also places SERI second overall among all institutes globally in the field, based on data from the past five years.

SERI’s rise in the rankings underscores its longstanding commitment to advancing ophthalmic research and biopharmaceuticals. Since its establishment in 1997, the institute has been pivotal in positioning Singapore as a hub for medical research and innovation in the Asia-Pacific region. ScholarGPS evaluates institutions on metrics such as research output and citation impact, and SERI’s performance reflects its dedication to cutting-edge research and clinical excellence.

Key areas of SERI’s research include diabetic retinopathy, myopia, and glaucoma, with newer ventures into artificial intelligence and digital health. Executive Director Jodhbir Mehta stated, “This milestone is a testament to the dedication and expertise of our research teams, clinician-scientists, and support staff who have worked tirelessly to advance the frontiers of ophthalmology research.”

SERI’s translational research has led to tangible patient benefits, such as the development of Vabysmo, a treatment reducing injection frequency for diabetic eye diseases, and Myopine, an eye drop for childhood myopia. The institute has also pioneered devices like the EndoGlide for corneal transplants and the Singapore Eye Lesion Analyser (SELENA+), an AI tool for detecting diabetes-related eye diseases.

As SERI continues to build on its achievements, it remains at the forefront of integrating innovative research into practical applications, enhancing patient outcomes globally.

OUE REIT Management Pte. Ltd. has reported a 10.6% year-on-year increase in Distribution per Unit (DPU) to 1.25 Singapore cents for the second half of 2025. This growth is attributed to resilient operating performance across its portfolio and a strengthened capital structure, which capitalised on a lower interest rate environment. Excluding capital distribution from the previous year, the core DPU saw a 15.7% rise.

The financial results for the period from 1 July to 31 December 2025 highlighted a significant 18% reduction in finance costs. The commercial segment experienced a like-for-like revenue and net property income (NPI) increase of 4.2% and 5.7% respectively. Meanwhile, the hospitality segment’s NPI grew by 4.5%, with revenue per available room (RevPAR) steady at S$277.

Despite a 4.2% decline in overall revenue to S$142.5m, due to the divestment of Lippo Plaza Shanghai, like-for-like revenue and NPI increased by 2.9% and 5.2% respectively. The total amount distributed for the financial year ending 31 December 2025 was S$123.8m, with a DPU of 2.23 Singapore cents, reflecting a distribution yield of 6.2%.

CEO Han Khim Siew noted the portfolio’s resilience amid global uncertainties, emphasising the strategic divestment of Lippo Plaza Shanghai and proactive capital management. Looking forward, OUE REIT aims to optimise asset performance and explore opportunities in Sydney’s prime business district, focusing on sustainable growth for its unitholders.

Fingular, a Singapore-based global fintech holding, has successfully closed its first external debt financing round, securing a S$10 million credit line through the Kilde peer-to-peer investment platform. This financing will bolster the company’s expansion efforts in Southeast Asia, with a particular focus on Malaysia, where demand for digital financial solutions is robust.

The financing deal was structured via Kilde, a platform that connects family offices, funds, and accredited investors to private credit opportunities across Europe and Asia. Kilde specialises in senior-secured lending to consumer and SME lending platforms, offering investors double-digit returns. Fingular’s CEO, Maxim Chernushchenko, stated, “This financing strengthens our balance sheet and provides additional flexibility to execute our regional growth strategy.”

Aalto Capital, acting as the exclusive debt and financial adviser, supported Fingular throughout the transaction. Manfred Steinbeisser, Managing Partner at Aalto Capital Group, remarked, “Southeast Asia represents a compelling growth market for financial services, with strong fundamentals and long-term potential.”

In Malaysia, Fingular’s consumer financing brand, Tambadana, has already issued over US$150m in total consumer financing, processing approximately 600,000 individual cases since its launch. This demonstrates the strong demand for digital financial solutions in the region.

Fingular, founded in October 2021, aims to build a full-service neo-bank promoting financial inclusion across Asia and the Middle East. The company continues to explore additional investment opportunities and is in discussions with several interested funds.

Grab, Southeast Asia’s leading superapp, has announced the launch of its new Tap to Pay on iPhone feature, allowing merchant-partners in Singapore to accept contactless payments seamlessly. This development marks a significant step in enhancing the payment experience for both merchants and consumers in the region.

The Tap to Pay on iPhone feature enables merchants to use their iPhones as a payment terminal, eliminating the need for additional hardware. This innovation is expected to streamline transactions, making it easier for businesses to manage payments efficiently. The feature supports a wide range of payment methods, including credit and debit cards, as well as digital wallets.

According to Grab, this new capability is part of their ongoing efforts to provide comprehensive solutions for businesses. “By working with Apple, we’re offering a simpler and more cost-efficient way for merchants of all sizes to accept contactless payments using just the Grab Merchant app on their iPhone,” Julianne Heng, Regional Head of Payments in Grab stated.

Tap to Pay on iPhone enables Grab customers to use a contactless payment acceptance solution that is easy to set up and use. Merchants can unlock contactless payment acceptance within minutes through the Grab Merchant iOS app on an iPhone XS or later, running the latest version of iOS.

Looking ahead, Grab plans to expand this feature to other markets in Southeast Asia, further solidifying its role as a leader in digital payment solutions. As businesses increasingly adopt digital tools, Grab’s Tap to Pay on iPhone is set to play a crucial role in facilitating seamless and efficient transactions across the region.