Industry News

Artificial intelligence (AI) is increasingly shaping the recruitment process in Singapore, with nearly half of candidates and employers incorporating the technology into their hiring practices. Morgan McKinley’s 2026 Global AI Report reveals that 47% of candidates in Singapore use AI to optimise their CVs for applicant tracking systems, a figure notably higher than the global average of 35%.

The report highlights that 50% of employers in Singapore utilise AI for CV screening and interview analysis. This trend reflects a broader shift towards automation, with 20% of employers describing their long-term workforce strategy as “automation-first”, compared to just 5% globally. Ken Ong, Managing Director at Morgan McKinley Singapore, noted, “AI is rapidly becoming part of everyday working life in Singapore, with both candidates and employers actively embracing the technology.”

Candidates are also leveraging AI for various aspects of their job search. The report indicates that 63% use AI to write or refine CVs and cover letters, whilst 49% employ it to prepare for interviews. Despite the growing reliance on AI, 55% of candidates express trust in AI when used alongside human oversight, underscoring the importance of balancing technology with human judgement.

As AI becomes more embedded in recruitment, organisations are urged to maintain transparency and invest in skills development. Ong emphasised the need for clear governance and human oversight as AI continues to influence workforce planning and recruitment strategies in Singapore.

Anthropic has inaugurated a new office in Singapore, marking its fifth establishment in the Asia-Pacific region. Alongside this expansion, the company has signed a Memorandum of Understanding (MOU) with Singapore’s Ministry of Digital Development and Information (MDDI). The agreement, signed by Permanent Secretary Chng Kai Fong and Anthropic Co-Founder Benjamin Mann, aims to foster cooperation in AI safety, security, and model evaluation, as well as research on AI adoption and its societal impact.

Singapore is a significant market for Anthropic, with its AI model, Claude, already integrated into services used by millions, including those of GovTech Singapore, Grab, and DBS. According to Anthropic’s Economic Index, Singapore ranks second globally in Claude.ai usage relative to its population.

The MOU was signed during the Singapore International Cyber Week, witnessed by Minister Josephine Teo and Michael Sellitto, Anthropic’s Head of APAC Policy. Mann highlighted Singapore’s leadership in responsible AI, stating, “We founded Anthropic on the belief that capability and safety have to go hand in hand.”

The collaboration will include technical exchanges on AI model evaluation and testing standards. Anthropic also plans to support AI skill development in Singapore and assist small and medium-sized enterprises in adopting AI responsibly.

In the public sector, Claude Code is utilised by over 1,500 engineers at GovTech Singapore to modernise systems. In financial services, DBS and GIC are leveraging Claude for various applications, ensuring compliance with strict security frameworks.

This strategic move underscores Anthropic’s commitment to enhancing AI capabilities and safety in Singapore and the broader Asia-Pacific region.

Singapore’s economy expanded by 5.4% year-on-year in the third quarter of 2026, according to advance estimates released by the Ministry of Energy, Trade and Industry. This marks a slowdown from the 6.2% growth recorded in the previous quarter. On a quarter-on-quarter basis, the economy grew by 1.1%, down from the 1.5% growth seen in the second quarter.

The manufacturing sector experienced a 7.5% year-on-year growth, a decrease from the 12.9% growth in the previous quarter. This sector’s performance was bolstered by increases in electronics, precision engineering, and transport engineering outputs, despite declines in chemicals and biomedical manufacturing. However, on a quarter-on-quarter basis, manufacturing contracted by 0.9%.

Conversely, the construction sector saw an 8.8% year-on-year increase, up from 6.1% in the previous quarter, driven by both public and private sector projects. Quarter-on-quarter, the sector rebounded with a 3.4% growth following a 2.7% contraction in the second quarter.

In the services sector, wholesale and retail trade, along with transportation and storage, grew by 8.0% year-on-year, building on the 6.9% growth from the prior quarter. This growth was supported by strong electronics exports and robust water and air transport segments.

The information and communications, finance and insurance, and professional services sectors expanded by 4.3% year-on-year, a slight decline from the previous quarter’s 5.1% growth. Growth was driven by IT services and fund management.

Preliminary GDP estimates, including detailed sectoral performance, will be further elaborated in the Economic Survey of Singapore in November 2026.

Singapore Airlines (SIA) is set to introduce a new range of in-flight amenities across all cabin classes from November 2026, aiming to enhance passenger comfort and well-being. The initiative is part of SIA’s broader strategy to elevate its end-to-end travel experience, which also includes next-generation cabin products, refreshed food and beverage offerings, and high-speed internet connectivity.

Passengers in Suites and First Class will receive SISLEY amenity kits, featuring products from the Sisleÿa and Sisleÿum ranges, along with 100% cotton sleeper suits. Business Class travellers will be offered sleeper suits for the first time, complemented by BYREDO amenity kits, which include the Blanche Eau de Parfum fragrance spray. Premium Economy Class will feature a new zip pouch with SIA’s signature batik motif, containing INK & WATER lip balm and other essentials. Economy Class passengers will receive a bespoke drawstring pouch with travel essentials.

Yeoh Phee Teik, Senior Vice President Customer Experience at SIA, stated, “Singapore Airlines is continuously finding ways to elevate the moments that matter to our customers in every cabin class. This is why we have carefully curated our new range of amenities, from skincare and personal care products to sleepwear and travel essentials, to support the enhanced comfort, rest, and well-being of our customers during their journeys with us.”

The new amenities will be available on flights exceeding six hours, with sleeper suits offered on selected medium-haul overnight and all long-haul flights. This move underscores SIA’s commitment to providing a luxurious and comfortable travel experience for all its passengers.

RHB Bank has announced that it is maintaining its full-year GDP growth projection for Singapore at 5% for 2026, with potential upside risks pushing it towards 5.4%. This decision is based on a stronger-than-expected year-to-date performance and a positive outlook for the rest of the year. The Monetary Authority of Singapore (MAS) has opted to maintain its current policy stance, keeping the Singapore dollar nominal effective exchange rate (S$NEER) on a +1.25% appreciation gradient.

Singapore’s GDP grew by 5.4% year-on-year in the third quarter of 2026, a slight moderation from the 6.2% growth recorded in the second quarter. This performance exceeded Bloomberg’s consensus estimate of 5.1% year-on-year growth. For the first three quarters of the year, Singapore’s GDP growth stood at 6%.

Barnabas Gan, Group Chief Economist and Head of Market Research at RHB Bank, noted that the MAS is expected to keep its policy parameters unchanged through the first half of 2027. However, there are risks of a further steepening of the appreciation slope to +1.50% by then.

The report highlights the resilience of Singapore’s economy amidst global uncertainties and suggests that the nation’s economic policies are well-positioned to support continued growth. As the year progresses, the focus will remain on monitoring economic indicators and adjusting forecasts as necessary.

Longbridge Securities Singapore has announced an extension of its US premarket options trading hours, allowing eligible Singapore clients to trade selected US stock and ETF options from 12:00 pm to 9:30 pm Singapore Time (SGT). This move provides investors with up to 9.5 hours of access before the regular US market session, enhancing their ability to respond to market developments.

The extended trading window is particularly significant for Singapore investors, as many US market-moving events, such as company earnings and economic data releases, occur before the regular trading session. Longbridge’s data indicates that premarket options volume among Singapore clients is nearly six times higher on earnings days and almost 50% higher the day before earnings announcements.

Gavin Chia, CEO of Longbridge Securities Southeast Asia, stated, “A wider trading window gives investors more flexibility to optimise their portfolios, manage risk, act on opportunities, and capture alpha before the market has fully adjusted to new information.”

The extension is part of Longbridge’s broader effort to provide investors with greater control over their trading activities. The company offers US$0 commissions and platform fees on eligible US options trades, further facilitating efficient market responses.

Longbridge also leverages AI technology to assist investors in understanding market changes and making informed decisions. The AI monitors holdings, explains relevant news, and helps investors prepare for trading sessions with greater context.

The extended premarket options trading is available for 51 US stocks and ETFs, including major names like Apple, Tesla, and Microsoft. This initiative underscores Longbridge’s commitment to enhancing trading experiences for investors in Asia.

Toku Ltd, a Singapore-based AI-powered customer experience platform, has announced the extension of its carrier-grade local numbering and public switched telephone network (PSTN) connectivity to Zoom Contact Centre. This development allows enterprises in the Asia Pacific region to select Toku as their connectivity provider directly through the Zoom web portal. Toku, a Zoom connectivity partner since 2021, now offers this service across 14 markets, including Australia, China, and Singapore.

The integration is designed to meet the high demands of AI-powered contact centres, which require superior voice quality, local presence, and regulatory compliance. Thomas Laboulle, Toku’s Founder and CEO, highlighted the importance of carrier contracts in AI infrastructure, stating, “A voice agent is only as fast as the network it answers over, and in Asia Pacific that is settled carrier by carrier, country by country.”

This expansion is significant as it enables enterprises to deploy AI virtual agents alongside human teams, ensuring each call is supported by a local number and in-country routing. The service is available in diverse markets such as Japan, Malaysia, and Vietnam, addressing the complexities of operating across regions with varying carrier and numbering rules.

Customers can activate Toku’s services by selecting it in the Zoom Admin Centre, with separate contracts for connectivity and usage. This move underscores Toku’s commitment to providing robust infrastructure for voice agents, enhancing customer interactions across the region.

The 24th Singapore International Bunkering Conference (SIBCON) commenced today, unveiling significant advancements in multi-fuel bunkering capabilities and digitalisation. Organised by the Maritime and Port Authority of Singapore (MPA), the event, themed “Charting a Resilient Multi-Fuel Future,” is taking place from 13 to 15 October 2026, drawing over 2,000 maritime professionals from more than 60 countries.

Several initiatives were announced to enhance marine fuel pathways, including the launch of a new Technical Reference for Ammonia Bunkering (TR 148) by MPA and Enterprise Singapore. This reference aims to ensure safety and efficiency in ammonia bunkering, with collaboration between MPA and the Pilbara Ports Authority to validate these standards through shared operational experiences.

In addition, Singapore is set to conduct its first ethanol bunkering operation at PSA’s Pasir Panjang Terminal, involving Maersk and Golden Island Pte Ltd. This operation will assess the adaptation of existing methanol bunkering standards for ethanol use.

MPA also plans to invite applications for liquefied natural gas (LNG) Floating Storage Units by the end of 2026, following the issuance of new LNG bunker supplier licences. This move aims to bolster storage capacity and supply chain resilience.

Digitalisation efforts are advancing with Phase 2 of the Digital Bunkering initiative, aiming to automate data flow and enhance information security. A grant call will be launched in November 2026 to support trials for this phase.

Furthermore, MPA will introduce the Early Adopter Scheme for Electric Harbour Craft from January 2027, offering grants to encourage the adoption of electric vessels, supporting Singapore’s e-HC ecosystem development.

Singapore organisations have reported an average loss of US$3.49m due to insider security incidents over the past year, marking the highest figure globally among 14 countries, according to Trellix’s latest research. The study highlights growing concerns over AI adoption, with 84% of local Chief Information Security Officers (CISOs) worried about data leaks from AI systems and 60% citing insufficient visibility into AI tool usage by employees.

In response, Trellix has introduced Trellix Wise™ for Private Cloud, an AI innovation designed to enhance security operations. This on-premises AI core aims to bridge the gap in threat detection and response whilst maintaining data sovereignty and governance. “The threat landscape has fundamentally shifted, where AI isn’t just accelerating attacks; it’s commercialising them,” said Vishal Rao, CEO of Trellix. Trellix Wise for Private Cloud allows organisations to harness AI’s speed and precision without compromising control.

The solution is tailored to scale Security Operations Centre (SOC) capacity, offering predictable pricing and comprehensive governance. It ensures data remains within the security boundary, avoiding external cloud exposure. “Our customers have invested heavily in security, but their teams are still left piecing together what different tools are telling them,” noted Suchit Karnik, COO at RAH Infotech Pvt Ltd.

With 40% of Singaporean organisations planning to prioritise AI-related identity risk investments in the next 12–24 months, Trellix’s innovation is timely. As AI threats evolve, Trellix aims to provide faster, more autonomous defences, ensuring resilience in an increasingly complex threat landscape.

A*STAR, Singapore’s leading public sector research agency, has received a significant boost with a US$1.69m (approx. S$2.2m) award from 65LAB to advance a pioneering therapy for optic neuropathies, including glaucoma and Non-arteritic Anterior Ischaemic Optic Neuropathy (NAION). This funding will expedite the optimisation and preclinical evaluation of compounds designed to protect retinal ganglion cells from degeneration.

The project is spearheaded by Professor Ashok Venkitaraman and Dr Zachary Gates, both affiliated with A*STAR’s Institute of Molecular and Cell Biology and the National University of Singapore. Their research focuses on developing selective inhibitors that could offer a new therapeutic approach by directly protecting retinal neurons, a mechanism not addressed by current treatments.

Glaucoma, a leading cause of irreversible blindness, is projected to affect 111.8 million people globally by 2040, with Asia bearing a significant portion of this burden. Current treatments primarily target intraocular pressure, leaving a gap in therapies that directly protect retinal neurons. NAION, which causes sudden vision loss, similarly lacks approved treatments.

Professor Venkitaraman emphasised the importance of the funding, stating, “The path from discovery to medicine requires both scientific excellence and strong translational partnerships. This support from 65LAB will enable us to advance a promising new approach for optic neuropathies whilst accelerating its journey towards real-world impact.”

65LAB, established by global investors including ClavystBio and Evotec, aims to drive scientific advancement and create biotech ventures in Singapore. Since its inception in July 2024, it has committed $6.4m to projects across Duke-NUS, NUS, and A*STAR, focusing on various medical challenges.