Industry News

Singapore’s manufacturing sector experienced an 8.3% increase in output in December 2025 compared to the previous year, according to the latest data from the Singapore Economic Development Board. Excluding the biomedical manufacturing sector, the output saw a more significant rise of 16%. However, on a seasonally adjusted month-on-month basis, the overall manufacturing output fell by 13.3%, with a 4.9% decrease when excluding biomedical manufacturing.

The electronics cluster led the growth, with a 30.8% year-on-year increase, driven by a 32.4% rise in the semiconductors segment due to strong demand for AI-related products. Other segments, such as electronic modules and components, and infocomms and consumer electronics, also contributed to the growth, despite a 5.4% contraction in computer peripherals and data storage.

Transport engineering output grew by 19.9% year-on-year, bolstered by a 35.9% expansion in the aerospace segment, which benefited from increased production of aircraft parts and maintenance jobs. The marine and offshore segment also saw an 8.5% rise due to higher activity in oil rigs and offshore platforms.

In contrast, the biomedical manufacturing sector faced a 38.8% decline in December, primarily due to a 69.7% drop in the pharmaceuticals segment. However, the medical technology segment grew by 4.4%, supported by robust demand for medical devices.

The chemicals cluster experienced a slight decline of 1.6%, with the petrochemicals segment dropping 23.2% due to weak demand and plant maintenance shutdowns. The general manufacturing industries remained flat, with notable growth in the food, beverages, and tobacco segment, which increased by 6.3%.

The next update on Singapore’s manufacturing performance is scheduled for 26 February 2026.

Central Singapore Community Development Council (CDC) has partnered with the Nanyang Academy of Fine Arts (NAFA) to unveil six GiraffeSG StatueBenches, designed by NAFA alumni artists, to promote everyday acts of kindness. The initiative, launched on 27 January 2026, aims to support the national Forward Singapore vision by encouraging residents to engage in simple, practical acts of goodwill.

The GiraffeSG StatueBenches, inspired by the giraffe’s trait of “sticking its neck out,” are functional artworks placed in public spaces across Singapore. These installations, designed around themes of inclusion, care, and collective action, aim to inspire citizens to engage in small acts of care. The launch event, held at NAFA, was officiated by Denise Phua, Mayor of Central Singapore District, and attended by participating artists and venue partners.

Phua stated, “GiraffeSG Central is our way of turning doing good into action, not just words. I thank NAFA, our artists, and our venue partners for stepping forward with us.” The statue benches will be displayed at high-traffic locations such as Gardens by the Bay, National Gallery Singapore, and VivoCity, inviting the public to pause, reflect, and take action.

NAFA President Tan-Soh Wai Lan highlighted the educational aspect, saying, “Our alumni artists have translated values of care, inclusion, and responsibility into meaningful works of art.” The project marks the first creative collaboration between Central Singapore CDC and NAFA, aiming to make doing good a part of everyday life.

FedEx has announced the addition of eight electric Mercedes-Benz eVito panel vans to its Singapore delivery fleet, marking a significant step in its sustainability efforts. This expansion means that over a quarter of FedEx’s local fleet is now electric, aligning with the company’s global goal of achieving carbon-neutral operations by 2040. The new vehicles are equipped with advanced safety features, such as a 360° parking camera and Multibeam headlamps, and have a load capacity of 923 kg with a range of up to 321 km per charge.

The introduction of these electric vehicles (EVs) is part of FedEx’s broader strategy to reduce emissions and promote sustainable logistics. Eric Tan, managing director of FedEx Singapore, stated, “Our expansion of electric vehicles in Singapore is a testament to transforming urban logistics to be safer, smarter, and more efficient, whilst reducing emissions.”

FedEx’s commitment to sustainability is further demonstrated by its integration of solar energy at its South Pacific Regional Hub, where the EVs are stationed. Since January 2025, over half of the hub’s electricity has been generated from on-site solar panels.

In addition to fleet electrification, FedEx is investing in technologies like AI-powered route optimisation tools to enhance delivery efficiency and reduce carbon emissions. The company is also using sustainable aviation fuel at key airports and deploying electric vehicles across several Asia Pacific markets, including Japan, Australia, and South Korea.

As FedEx continues to innovate and invest in sustainable practices, it aims to support businesses in making lower-emission shipping decisions, ultimately contributing to a more sustainable future.

Trip.com Group has reported a significant 45% increase in bookings for short holidays among Singaporeans in the first quarter of 2026. This surge is primarily driven by working adults aged 25 to 49, who are taking advantage of the upcoming seven long weekends to plan quick overseas escapes. Popular destinations include Bangkok, Kuala Lumpur, Penang, Hong Kong, and Guangzhou, which are favoured for their accessibility and convenience.

The trend towards short holidays is further fuelled by live entertainment events. Notably, the Mayday #5525 Live Tour in Kuala Lumpur on 31 January is among the top attractions booked by Singaporean travellers. Other popular attractions include Hong Kong Disneyland, Shanghai Disney Resort, and The Palace Museum in Beijing.

Trip.com Group’s Trip.Planner tool is aiding travellers in organising their long weekend trips by offering personalised itineraries that cater to individual travel styles. The tool provides recommendations for flights, hotels, and attractions, making it easier for users to plan their trips efficiently.

As Singaporeans continue to seek quick getaways, the travel industry anticipates a busy year ahead, with the long weekends providing ample opportunities for short holidays. This trend highlights a growing preference for brief, yet fulfilling travel experiences among Singaporeans.

Trust Bank has announced its new service, becoming the first banking app in Singapore to offer fractional trading for US stocks and exchange-traded funds. This innovative feature allows users to purchase portions of shares, making stock market investment more accessible to a broader audience.

The bank has partnered with Saxo Singapore to give access to over 7,000 US stocks and exchange-traded funds (ETFs) through the Trust App.

Trust Bank is offering zero commission on trades until 30 June 2026. Customers can win free fractional stock worth up to US$500 when they make their first trade of at least US$1,000.

Trust Bank’s move aligns with a growing trend of financial institutions leveraging technology to enhance customer experience and broaden investment opportunities. The app’s new feature is expected to attract a diverse range of investors, from novices to seasoned traders, by offering flexibility and affordability.

Despite a robust economic performance in Singapore during Q4 2025, the commercial shophouse market experienced a slowdown, according to PropNex Research’s latest report. The quarter saw 22 shophouse transactions, marking a 21.4% decline from the previous quarter’s 28 deals. Year-on-year, sales dropped by 12% from 25 transactions in Q4 2024. The total value of these transactions amounted to $158.3m, a 27.6% decrease from Q3 2025.

District 8, encompassing Little India, emerged as the top performer in Q4 2025, with seven deals totalling $46.3m. For the entire year, District 8 recorded 24 transactions worth $183m, representing over a quarter of the year’s total sales value. The report highlighted that more than half of the shophouse deals in Q4 2025 were priced above $5m.

Leasing activity also saw a downturn, with 775 rental contracts signed in Q4 2025, a 5.5% decrease from the previous quarter. The value of these contracts was $8.25 million, down 4.1% quarter-on-quarter. The median monthly rental rate was $6.50 per square foot, a slight decrease from the peak in Q2 2024.

Looking ahead, PropNex anticipates potential growth in the shophouse sector in 2026, driven by Singapore’s appeal as a safe haven and a favourable economic outlook. However, challenges such as muted rental growth and geopolitical uncertainties may pose risks.

Maybank has announced its ambitious five-year strategy, ROAR30, aimed at reinforcing its purpose of Humanising Financial Services and achieving a return on equity (ROE) of 13-14% by 2030. The strategy, unveiled on 20 January 2026, focuses on three strategic pillars: values-based offerings, scaling businesses, and strengthening foundations.

The first pillar centres on delivering exceptional customer experiences, positively impacting society, and supporting the real economy. Maybank plans to leverage digital platforms and next-generation apps to enhance customer engagement. The bank is committed to mobilising RM300b in sustainable finance over the next five years and achieving carbon neutrality by 2030.

The second pillar involves expanding four key business areas: global Islamic finance, regional wealth management, regional transactions and payments, and regional corporate and investment banking. Maybank aims to capitalise on ASEAN’s growing prominence and the increasing demand for Islamic finance.

The third pillar focuses on building a sustainable foundation by enhancing workforce capabilities, embracing technology, and optimising productivity. Maybank President and Group CEO, Dato’ Sri Khairussaleh Ramli, highlighted the importance of ROAR30 in driving growth and profitability across Maybank’s home markets of Malaysia, Indonesia, and Singapore.

ROAR30 aims to deliver a net interest margin of over 2.05%, a cost-to-income ratio of 47% or less, and a CASA ratio exceeding 41%. The strategy is designed to ensure meaningful impact and sustainable value creation for all stakeholders, including customers, communities, and economies served by Maybank.

Henkel, a global leader in industrial and consumer goods, has consolidated its operations at the Singapore Science Park, establishing a new innovation hub. This strategic move brings together Henkel’s Global Supply Chain Hub, Adhesive Operations Digital team, and the Academy of Hair under one roof, enhancing its service capabilities across Asia-Pacific and beyond.

The new facility, located at Geneo, Singapore Science Park, features an expanded Adhesives Application Engineering Laboratory. This lab supports customers in sectors such as general manufacturing, maintenance, and electronics. Mark Dorn, Executive Vice President of Adhesive Technologies, stated, “The opening of our new Singapore office underscores Henkel’s commitment to building a strong, future-ready foundation in Asia Pacific.”

Henkel’s hub is set to play a pivotal role in the company’s global operations. Thomas Holenia, President of Henkel Singapore, noted that the hub will act as a “critical control tower” for Henkel’s businesses, integrating supply chain, innovation, and digital capabilities to better serve customers and accelerate market solutions.

The facility also houses the Henkel SEA Electronic Adhesives Technical Centre, which supports key growth segments like semiconductors and consumer electronics across Southeast Asia. The centre has consistently grown year-on-year, offering advanced capabilities such as material characterisation and failure analysis.

Additionally, the Academy of Hair provides a platform for professional learning in the hair industry, offering courses in colouring, cutting, and salon management. This initiative aims to empower professionals and foster a connection with the wider hair community.

Henkel’s move to Singapore Science Park marks a significant step in its 40-year presence in Singapore, reinforcing its commitment to innovation and sustainable solutions in the region.

ST Telemedia Global Data Centres (STT GDC) has launched Southeast Asia’s first High Voltage Direct Current (HVDC)-powered AI infrastructure testbed, the FutureGrid Accelerator, at Nanyang Technological University (NTU) Singapore’s Electrification and Power Grids Centre. This initiative, officiated by Minister of State for Foreign Affairs and Trade & Industry, Gan Siow Huang, marks a significant step in Singapore’s digital and energy transition efforts.

The FutureGrid Accelerator, developed in collaboration with LITEON and supported by NTU’s Energy Research Institute and deep-tech spinoff Amperesand, aims to demonstrate HVDC integration with AI workloads. This technology promises up to 30% energy savings compared to traditional systems and a reduction of up to 400 tonnes of CO2 equivalent per megawatt annually. It also supports ultra-high-density racks and is compatible with renewable energy sources.

In addition to the testbed, STT GDC has signed Memoranda of Understanding with four Institutes of Higher Learning, including the Institute of Technical Education and Singapore Polytechnic, to enhance skills development in AI and sustainable energy systems. These partnerships are expected to benefit over 8,000 Singaporeans in the next five years through training and internships.

Bruno Lopez, President and CEO of STT GDC, stated, “The FutureGrid Accelerator is a strategic investment in Singapore’s long-term digital leadership.” This initiative is set to reinforce Singapore’s position as a global hub for advanced sustainable digital infrastructure and energy transition.

Rex International Holding Limited has announced a strategic move to raise S$7.6m through the placement of new and treasury shares, alongside the issuance of free detachable unlisted warrants. The company entered into agreements with Eagle Harbor Multi-Strategy Master Fund Limited and BB Special Opportunities Fund Ltd on 26 January 2026 to facilitate these investments.

The company plans to issue 40,082,930 new ordinary shares and place 13,187,000 treasury shares at S$0.143 per share. This placement price reflects an 8.917% discount to the volume-weighted average price of S$0.157 on the Singapore Exchange (SGX) as of the agreement date. Additionally, Rex will issue 53,269,930 warrants, allowing investors to subscribe for new shares at an exercise price of S$0.177, a 12.74% premium over the average trading price.

The funds raised will be split between Eagle Harbor, contributing S$4.4m and BB, providing S$3.2m. The company will apply for the listing of these shares and warrants on the SGX Mainboard. The placement is non-underwritten, and SF Partners Limited, an independent introducer, facilitated the investor introductions, earning a 3% fee on the gross investment value.

The issuance will not alter the controlling interest in Rex International. The shares and warrants will be issued under a general mandate approved by shareholders in April 2025, allowing the company to issue up to 20% of its shares on a non-pro-rata basis. The completion of these investments is contingent upon regulatory approvals and other conditions being met by 31 March 2026.