Industry News

Meta Health Limited has commenced legal proceedings against six individuals, including former executives, in the High Court of Singapore. The company filed an originating claim on 10 September, alleging breaches of duty and conspiracy related to its acquisition of Gainhealth Pte. Ltd.

The defendants include Chua Kheng Choon, former Executive Chairman and CEO of the company, and other former directors and associates.

The legal action claims that Chua breached contractual duties, whilst Chua and four others breached statutory and common law duties. Additionally, the company accuses Travis Hong, a business associate, of dishonestly assisting in these breaches and unlawfully receiving company assets. Meta Health asserts that these actions have resulted in financial losses and reputational damage.

Represented by Rajah & Tann Singapore LLP, Meta Health is seeking approximately $5.3m (S$7.3m) in damages, along with equitable compensation and other remedies. The company has yet to determine the financial impact of the proceedings on its 2025 fiscal year, ending 31 December. Shareholders are advised to remain cautious and consult professional advisers regarding their investments. Further updates will be provided as the case progresses.

Sing Holdings Limited and Sunway Developments Pte. Ltd. has successfully secured the second land parcel at Chuan Grove, awarded by the Urban Redevelopment Authority on 10 September 2025. This acquisition follows their earlier success in obtaining the first parcel on 17 July 2025.

The joint venture, operating under Chuan Grove Pte. Ltd., intends to amalgamate the two adjacent parcels, pending regulatory approvals, to create a single residential development. The proposed project will feature approximately 1,055 units spread across five blocks, each potentially rising up to 27 storeys, and will include communal facilities.

The total purchase price for the combined land parcels is $970m (S$1.327b), equating to approximately $990 (S$1,355) per square foot of the total gross floor area, which spans 91,038 square metres.

The development at Chuan Grove is poised to contribute significantly to the local housing market, offering a substantial number of new residential units. The project’s success will depend on timely regulatory approvals and the effective execution of the joint venture’s development plans.

The Straits Times Index (STI) achieved a new intraday high of 4,355.84 on 10 September before closing at 4,346.46, marking a significant milestone in its 2025 performance. This surge has extended the STI’s total return for the year to 19.6%, with an 11.5% increase since June. The rally has also propelled the market capitalisation of the Singapore stock market to S$983 billion.

Key contributors to the STI’s recent gains include Yangzijiang Shipbuilding, DFI Retail Group, and City Developments.

City Developments, in particular, has experienced the highest net institutional inflow relative to market capitalisation among the 30 STI constituents. These companies have also seen upward revisions to their consensus estimate target prices, reflecting strong investor confidence.

The new STI high coincided with DBS Group Holdings reaching a new high of S$52.87. With DBS comprising 26.4% of the STI, its performance significantly influenced the index’s consensus target, which rose to 4,491 this week. The recent upgrade by JP Morgan further bolstered investor sentiment.

As the STI continues to break records, the focus remains on the performance of its leading constituents and the broader market dynamics that are driving these gains. The ongoing momentum suggests potential for further growth, with investors closely monitoring developments in the coming months.

RHB Bank has launched a Singapore Economic Heatmap to address growing uncertainties in the country’s economic landscape. This tool aims to provide clearer insights into Singapore’s economic conditions by monitoring growth momentum and trends in the Straits Times Index (STI). The heatmap assesses the economy through five key pillars: economic activity, labour conditions, consumption, banking, and financial markets.

The report indicates that whilst Singapore experienced resilient growth in the first half of 2025, there are signs of slowing momentum and emerging weaknesses across several key industries in the second half. This development is crucial for market watchers and policymakers who rely on such data to make informed decisions.

The analysis of Barnabas Gan, group chief economist and head of market research at RHB Bank, suggests that the Economic Heatmap, alongside the RHB SG Stress Index, will be instrumental in navigating the economic challenges anticipated in the country. The comprehensive assessment provided by these tools is expected to aid in identifying potential risks and opportunities within Singapore’s economy.

As the year progresses, stakeholders will be closely monitoring these indicators to adapt strategies accordingly. The insights from RHB’s report underscore the importance of vigilance in the face of potential economic downturns, ensuring that Singapore remains prepared for any adverse developments.

Hays, a leading recruitment and workforce solutions specialist, has released its Pulse of Recruitment report, highlighting a shift in hiring demand and rising job insecurity across Asia.

The report, based on a survey of over 2,000 professionals and hiring managers from China, Hong Kong SAR, Japan, Singapore, Malaysia, and Thailand, reveals that only 28% of organisations increased their headcount in 2025, a significant drop from the 46% projected in late 2024.

The report underscores a growing sense of economic pessimism, with 58% of respondents expressing low confidence in the economic outlook and employment prospects over the next two to five years. This sentiment is reflected in the workforce, where 34% of professionals feel insecure in their current roles. Marc Burrage, Managing Director of Hays Asia, noted, “Despite organisational efforts to minimise the effects of uncertainty through restructuring, the core challenge of skill shortages persists.”

Job insecurity and career stagnation are prompting professionals to seek new opportunities, with 23% having already changed jobs and 44% considering a move. Career progression remains a key motivator, with 36% of job leavers citing limited advancement opportunities as a reason for departure.

On a positive note, the adoption of AI tools in the workplace is on the rise, with 63% of professionals now using AI technologies, up from 54% in late 2024. Organisations are increasingly investing in AI training, with 41% of respondents reporting employer support for AI tools.

The findings highlight the need for strategic workforce planning and proactive talent retention strategies amidst economic volatility.

SGX Group has been named Southeast Asia’s most valuable exchange brand in 2025, according to the latest Exchanges 10 2025 report by Brand Finance. The Singapore Exchange achieved a brand value of $591 million, marking a 23% increase from the previous year. Globally, SGX Group ranks 7th among exchange brands and is the 3rd strongest exchange brand worldwide, boasting a Brand Strength Index score of 87.7 out of 100 and a AAA rating.

The report attributes SGX Group’s impressive growth to record earnings and increased activity in derivatives trading, initial public offerings (IPOs), and stronger performances in foreign exchange, commodities, and equities. These factors have significantly bolstered the exchange’s market position both regionally and globally.

As SGX Group continues to expand its influence, the exchange’s enhanced brand value and global standing are expected to attract further investment and interest in the region’s capital markets. This development positions SGX Group as a key player in the global exchange landscape, with potential implications for future growth and collaboration opportunities.

Singapore has emerged as the top destination for foreign direct investment (FDI) confidence in the Asia-Pacific region, according to Bloomberg Media’s latest Global Foreign Direct Investment Outlook. The study, which surveyed 2,600 senior business decision-makers across 31 markets, reveals that 62% of regionally focused investors express greater confidence in Singapore, driven by its robust policy environment and geopolitical stability.

The report highlights that investors are primarily motivated by Singapore’s strong capabilities in technology and innovation, access to new customer markets, and a highly skilled workforce. Michelle Lynn, Bloomberg’s Global Head of Data Science & Insights, stated, “Investors perceive Singapore as highly stable and economically resilient, offering a much-needed harbour in an increasingly volatile global landscape.”

Key growth opportunities identified by investors include the adoption of artificial intelligence (AI), supply chain diversification, and digital transformation. Over half of the investors view advanced technology as the most promising sector, followed by IT/computer technology and business services.

The study underscores Singapore’s alignment with global investor priorities, with Lynn noting, “Singapore stands out not just for its stability, but for how closely it aligns with what investors value most.”

As global investors increasingly prioritise AI, digital transformation, and supply chain resilience, Singapore’s position as a future-focused and trustworthy partner for long-term growth continues to strengthen.

The International Union of Marine Insurance (IUMI) has reported a stable marine cargo insurance market at its annual conference in Singapore, with global cargo premiums reaching $22.64 billion in 2024—a 1.6% increase from the previous year.

Despite this growth, Mike Brews, Chair of the IUMI Cargo Committee, cautioned that uncertainty looms due to potential tariff impacts.

Brews highlighted that the cargo market’s stability is reflected in the consistent improvement of cargo loss ratios since 2018 and a benign claims environment in 2024. However, he noted that challenges such as cargo accumulations, mis-declared cargoes, the transition to net-zero, and war-related risks persist.

“The cargo market remains stable in terms of global premium income,” Brews stated, acknowledging a significant increase from China, attributed to corrections in previously under-reported insurance.

Looking forward, Brews emphasised the potential impact of tariffs, which could increase insured values and associated risks by up to 50%, particularly in North America. This could lead to shifts in trade flows, disrupting established shipping patterns and requiring insurers to adapt to new routes and risk profiles.

Despite an increase in market capacity and some market softening, Brews remains optimistic about cargo underwriting’s profitability, which continues to attract investment. However, he warned that tariffs and geopolitical tensions could pressure market stability and profitability if they reshape trade routes, costs, and volumes.

The Chartered Institute of Personnel and Development (CIPD), in collaboration with AIA, has released its Asia Employee Benefits Report 2025, highlighting the significant impact of rising costs and digital transformation on employee benefits strategies across Asia. The report, which surveyed organisations in Singapore, Malaysia, and Hong Kong, found that nearly half (49%) of respondents identified these factors as primary pressures.

Budget constraints emerged as the top challenge in designing benefits, with 63% of organisations citing it as a major issue. Understanding employee expectations followed closely, with 44% of respondents acknowledging it as a significant hurdle. The report also noted a decline in the provision of traditional insurance benefits such as life/accident insurance, hospitalisation, and surgical insurance, attributed to budget pressures.

May Leng Kwok, Head of Market Development, Global, for CIPD, emphasised the importance of aligning benefits with employee expectations: “Regularly gathering employee feedback is critical to closing this gap and ensuring benefits offerings are both valuable and relevant in today’s dynamic environment.”

David Chow, Director, Group Corporate Solutions at AIA, added, “Offering the right mix of benefits, especially in mental health and wellbeing, is more critical than ever.”

Looking ahead, employers plan to prioritise outpatient insurance, mental health, and life/accident insurance. The report underscores the need for organisations to adapt their benefits strategies to remain competitive amidst economic pressures and evolving workforce expectations.

The Singapore Academy of Law (SAL) has announced strategic partnerships with global legal content providers LexisNexis, Thomson Reuters, vLex, and Legora, set to commence on 1 October 2025. This initiative aims to broaden the accessibility of Singapore’s legal resources worldwide.

Additionally, SAL has launched LawNet 4.0, an AI-driven legal research platform, to better serve Singapore’s legal professionals.

The partnerships will allow seamless access to Singapore judgments, including the Singapore Law Reports, through these international platforms. Moreover, SAL’s collaboration with Legora will integrate its database of contract precedents, leveraging AI-assisted contract drafting and review capabilities.

LawNet 4.0 introduces several innovative features, including an AI-powered search engine developed with the Infocomm Media Development Authority (IMDA). This tool, tailored for contract law, enhances research efficiency by providing AI-generated responses to legal queries. The platform also boasts faster response times and improved search result relevance, accommodating natural language queries.

These developments underscore SAL’s commitment to maintaining Singapore’s leadership in legal innovation and ensuring its legal resources are globally accessible. The integration of AI technologies in LawNet 4.0 is expected to significantly enhance the efficiency and effectiveness of legal research for professionals in Singapore.