Industry News

The National Trades Union Congress (NTUC) has unveiled the SME Partners Multiplier Programme, a new initiative designed to support small and medium-sized enterprises (SMEs) in Singapore with transformation, workforce upskilling, and business growth. Launched on 11 September 2025, the programme will see NTUC collaborating with industry associations, trade bodies, and business clans—collectively known as multipliers—to provide comprehensive support to SMEs.

The multipliers involved include the Singapore Furniture Industries Council, the Singapore Manufacturing Federation, the Singapore Building Material Suppliers’ Association, and the LIN Chamber of Commerce. These organisations will assist SMEs in accessing training and upskilling opportunities for workers, as well as grants and digitalisation support for employers to drive transformation efforts.

SMEs participating in the programme can benefit from the NTUC Company Training Committee (CTC) framework, which offers joint capability-building and transformation initiatives. The NTUC CTC Grant covers up to 70% of qualifying costs for workforce and business transformation projects, providing practical support in areas such as job redesign, digitalisation, and human capital advisory.

For SME workers, the programme promises smoother career transitions, enhanced employability through skills upgrading, and clearer progression pathways.

Additionally, the programme aims to strengthen SME advocacy at the national level by providing ground-level insights to inform NTUC’s policy-shaping efforts.

Cora Environment, previously known as SembWaste and Sembcorp Environment, has announced a $146 million (S$200 million) investment over five years to enhance its waste-to-resource and recycling capabilities. The investment will bolster Cora Environment’s core capabilities, upgrade existing facilities, and introduce a new digital platform for sustainability insights.

It also aligns with Singapore’s Green Plan 2030, aiming to transition the nation towards a zero-waste future.

The company, which serves approximately 450,000 households and trade premises in Singapore, is committed to reshaping the waste ecosystem through collaboration and education.

“Cora Environment is built on a strong foundation of governance, stakeholder trust, and operational depth,” said Lee Kok Kin, Group CEO of Cora.

Cora Environment’s initiatives include the Closed-Loop Partners Network, launched in June 2024, to promote industry collaboration and responsible recycling. Additionally, the Cora School Recycling League, introduced in 2023, has engaged over 400 schools to educate students on clean stream recycling.

With its comprehensive roadmap, Cora Environment is set to play a crucial role in achieving Singapore’s zero-waste goals and advancing waste management practices in the region. The company’s integrated expertise is expected to deliver long-term value and stronger outcomes for customers, stakeholders, and the community.

ANTA Group has announced its ambitious plan to open 1,000 stores for its ANTA brand across Southeast Asia over the next three years. This announcement was made by Will Wang, Vice President of ANTA Group and Chairman and President of ANTA Southeast Asia, during the 2025 Asia New Vision Forum in Singapore. The company aims to leverage its unique Brand-Retail business model and direct-to-consumer approach to achieve this target.

The Southeast Asia market has been pivotal to ANTA’s global growth, with retail sales nearly doubling year-on-year in the first half of 2025.

Wang highlighted the importance of localisation in their strategy, stating, “True globalisation means achieving localisation in every market whilst staying true to the brand’s DNA.”

With Singapore as its regional headquarters, ANTA is using Southeast Asia as a strategic launchpad for global expansion. The company is also expanding into neighbouring markets such as South Asia, Australia, and New Zealand. This expansion is supported by a streamlined supply chain and a robust logistics platform, enhancing operational efficiency.

ANTA’s commitment to the region is further demonstrated by its investment in local infrastructure and digitalisation, creating over 400 local jobs in Singapore. The company is also engaging with local communities through partnerships and sports development initiatives.

In the first half of 2025, ANTA’s overseas revenue grew by over 150%, driven by Southeast Asia’s market growth and new business launches in the US and the Middle East. The company plans to continue this momentum with flagship stores in key locations and expanded e-commerce channels.

Robeco has been awarded two advanced 3D investment mandates by PGGM, a prominent Dutch pension investor, totalling over €15b for its client, Pensioenfonds Zorg & Welzijn (PFZW). These mandates, announced on 12 September, are tailored to balance risk, return, and sustainability, marking a pivotal development in the partnership between PGGM and Robeco.

The mandates include the 3D Systematic Equity Robeco, valued at €11.7b, which employs a systematic, bottom-up investment strategy focusing on individual company characteristics. The second mandate, 3D Credit Robeco, worth €3.7n, actively manages a diversified credit portfolio with a similar approach. Both strategies integrate Robeco’s proprietary Sustainability IP, including the SDG Framework and Climate Traffic Light analytics, to ensure transparency and sustainability.

Carola van Lamoen, Head of Sustainable Investing at Robeco, stated, “These mandates reflect our shared belief with PGGM and PFZW in the importance of balancing risk, return, and sustainability. By integrating our proprietary Sustainable Investing frameworks and active engagement into both systematic equity and credit strategies, we aim to deliver robust investment solutions that support long-term value creation and positive impact.”

In response to growing demand, Robeco has also launched a suite of 3D ETFs, offering a dynamic alternative to passive ETFs by targeting investment dimensions to enhance performance and sustainability. This initiative underscores Robeco’s commitment to sustainable investing and its strategic alignment with PGGM’s objectives.
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Asia Pacific markets are exhibiting strategic resilience and cautious optimism despite global economic challenges, according to Colliers’ Global Capital Flows September 2025 report. Singapore, Japan, and Hong Kong have emerged as three of the top 10 global sources of cross-border capital, highlighting the region’s increasing role in outbound investment. Concurrently, Japan and Australia are among the top 10 global capital destinations, reflecting sustained investor confidence in the region’s economic fundamentals.

Colliers’ Managing Director in Singapore, Bastiaan VB, noted, “Singapore continues to demonstrate its dual strength as both a capital source and investment destination.”

The report indicates that investment activity in Asia Pacific has surpassed 2024 levels by 5% year-to-date, with the region leading in land-led development. Seven of the top 10 global land and development site destinations are located in Asia Pacific, including Singapore, China, and India.

The office sector remains a standout performer, with Asia Pacific and EMEA leading the global recovery in office investment activity. The retail sector also continues to trade strongly, maintaining consistent activity levels since Q1 2025. Additionally, there is growing momentum in data centre fundraising, driven by demand for AI and digital infrastructure.

IREIT Global Group Pte. Ltd., the manager of IREIT Global, has announced that its wholly-owned subsidiaries, which hold the Berlin Campus, have been served with a payment order by DRV, the former main tenant at the site.

The order, filed on 10 September 2025 in the Berlin-Wedding local court, relates to a claim by DRV. The court has yet to examine the merits of this claim.

The subsidiaries have until 10 October 2025 to file an objection to the payment order. Should they do so, the case will proceed to the district court of Berlin, where DRV will be required to submit a formal statement of claims. The manager of IREIT Global maintains that the claim is unlikely to succeed and believes there is a strong chance of successfully defending against it.

The manager is currently seeking legal advice and is committed to defending the interests of IREIT and its subsidiaries. Unitholders and potential investors are advised to exercise caution when dealing with IREIT units and to stay informed through future announcements. They are also encouraged to consult professional advisers if uncertain about their next steps.

Sun Life Singapore has introduced two new Indexed Universal Life (IUL) insurance products—SunBrilliance IUL II and SunBrilliance Indexed Savings—targeting High Net Worth (HNW) and Ultra High Net Worth (UHNW) families. This launch follows the success of its flagship IUL product introduced in 2023, as the company seeks to address the growing demand for legacy planning and wealth accumulation solutions.

The SunBrilliance IUL II offers enhanced benefits, including a higher multiplier factor of 125%, an increased cap rate for the Optimum Indexed Account at 10.80% per annum, and a new guaranteed loyalty bonus from the 11th policy year. Additionally, it features a waiver of fund charges and penalty-free partial policy surrenders. The product also continues to support charitable causes through the Sun Life Singapore Philanthropic Pledge, donating 0.5% of premiums to charity.

The SunBrilliance Indexed Savings plan is designed to facilitate wealth transfer across generations, offering two Indexed Accounts linked to the S&P 500 index. It provides flexible options for inter-generational wealth transfer, a maturity term of 150 years, and bonuses to enhance account value.

Christopher Albrecht, CEO of Sun Life Singapore, stated, “At Sun Life Singapore, we’re not just keeping pace with the market – we’re setting the standard for innovation in insurance.” He emphasised the importance of providing clients with tools to secure their financial futures amidst economic uncertainties.

These new offerings reinforce Sun Life’s position as a leading insurer for affluent clients in Asia, leveraging its expertise to meet sophisticated financial needs.

Singapore is at the forefront of Shadow AI usage, with 26% of business leaders reporting employees using generative AI (GenAI) tools without oversight, according to ABBYY’s latest report.

The 2025 State of Intelligent Automation: GenAI Disillusionment survey highlights the hurdles Singaporean businesses encounter, including high costs, governance issues, and incorrect outputs, often referred to as “hallucinations.”

The survey, conducted by Opinium Research and commissioned by ABBYY, reveals that 40% of Singaporean leaders find training GenAI models more challenging than anticipated. Additionally, 30% cite cost concerns, whilst 28% point to governance gaps. To address these challenges, many businesses are turning to other AI technologies, with 47% using Document AI and 42% employing Process Intelligence.

Maxime Vermeir, Senior Director of AI Strategy at ABBYY, noted, “Businesses are spending money on GenAI tools that promise more than they can provide. In some cases, they don’t even need it.” He emphasised the importance of evaluating current processes before adopting GenAI tools.

The report also highlights that 99% of Singaporean businesses have seen improvements in trust, accuracy, and cost savings when complementing GenAI with process and document AI.

Furthermore, 56% of staff use GenAI to enhance their professional image, whilst 63% find it reduces workload and boosts creativity.

ABBYY’s CEO, Ulf Persson, commented on the potential risks of Shadow AI, stating, “The corporate benefits of GenAI’s potential are truly unlocked when leaders drive secure, strategic adoption with risk management as a priority.”

As Singaporean businesses mature in their approach, 99% plan to increase their GenAI budgets, with 21% expecting a 6-10% rise in funding.

Singapore is poised to spearhead the next wave of economic growth in Asia, according to McKinsey’s global managing partner, Bob Sternfels, and senior partner Gautam Kumra. The city-state’s strategic position and forward-thinking policies have transformed it into a global powerhouse over the past 60 years, with a remarkable average GDP growth of 7% annually. Now, Singapore is set to capitalise on emerging “arenas of competition”—industries marked by significant growth and innovation potential.

These arenas, identified by the McKinsey Global Institute, include artificial intelligence (AI), advanced manufacturing, and the digital economy. AI, once confined to research labs, now drives market capitalisation and enterprise creation. Singapore is already showing promise in these areas, with companies like GlobalFoundries and Micron expanding semiconductor capabilities, and Grab piloting autonomous mobility solutions.

The Asia-Pacific region is expected to generate between $13t and $21t in annual revenue from these arenas by 2040, nearly double that of the US. Singapore’s opportunity lies in leveraging its open economy to bridge geopolitical divides, prioritising advanced manufacturing, and fostering continuous reskilling.

With a declining working-age population, automation and robotics present significant opportunities. Singapore aims to catch up with global leaders like Korea in robot-to-worker density. Reskilling is crucial, as the half-life of skills shortens, necessitating a shift to continuous learning frameworks.

Private capital will play a vital role in this transformation. In 2024, Singapore attracted $5 billion in venture capital, with potential for further growth. By embracing change and leveraging its strengths, Singapore is well-positioned to lead in the global arenas of the future.

MoneyMax Financial Services Ltd. has successfully closed its inaugural offering of Series 001 Notes under its S$200 million unsecured commercial paper programme. The offering, which concluded on 11 September 2025, raised S$72.74 million in gross proceeds.

The Series 001 Notes will be listed on the ADDX Exchange on 12 September 2025.

This offering attracted significant interest from key stakeholders within the company. Notably, Dato’ Sri Dr. Lim Yong Guan, the Executive Chairman and CEO, along with other related parties, collectively subscribed for S$26.56 million, accounting for 36.51% of the total issuance. This group includes Non-Executive Director Lim Yong Sheng, Chief Operating Officer Tan Yang Hong, and several family members of Dato’ Sri Dr. Lim.

The successful closure of this offering marks a significant milestone for MoneyMax Treasure, a subsidiary of MoneyMax Financial Services, as it embarks on its commercial paper programme. The company has indicated that further announcements will be made if there are material developments related to the programme or the issuance of the Series 001 Notes.

This move is expected to enhance MoneyMax’s financial flexibility and support its growth initiatives. The listing on the ADDX Exchange provides a platform for increased visibility and potential investor engagement.
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