Industry News

The International Union of Marine Insurance (IUMI) Conference returned to Singapore on 8 September 2025, after more than two decades, highlighting the city’s pivotal role in the maritime industry. The event, themed “Charting Opportunities in Changing Tides,” addressed the sector’s response to geopolitical shifts, technological advancements, and the green transition.

The maritime industry faces significant challenges due to geopolitical developments, such as the US tariffs altering global supply chains, and technological advancements, including artificial intelligence and autonomous operations, which introduce new cybersecurity risks. Additionally, the adoption of alternative fuels like ammonia and methanol is reshaping risk profiles, necessitating new handling and operational models.

Marine insurance remains crucial in navigating these changes, providing a safety net for vessels, crew, and cargo. It enables the industry to manage emerging risks and seize new opportunities. Singapore’s marine insurance community has shown resilience, with firms like the West of England Protection and Indemnity Club and Skuld Singapore expanding their services.

Singapore is also enhancing its marine insurance capabilities through initiatives like the Singapore War Risks Mutual (SWRM) and the Maritime Cyber Security Maturity Scorecard. These efforts aim to address geopolitical and cybersecurity risks, respectively. The Maritime and Port Authority of Singapore (MPA) is developing national standards for alternative fuels to support the green transition.

Local talent development is a priority, with MPA collaborating with educational institutions to nurture future marine insurance experts. The upcoming IUMI Cargo Masterclass in Singapore will further bolster skills and networking opportunities in the region.

As the maritime landscape evolves, collaboration among industry stakeholders will be essential to navigate complexities and harness opportunities, ensuring a sustainable future for the sector.
“`

The Competition and Consumer Commission of Singapore (CCCS) is inviting public feedback on the proposed acquisition of Econ Healthcare (Asia) Limited by TPG Inc. The consultation period, which began on 8 September, will run until 19 September. CCCS is assessing whether the transaction could potentially harm competition within the eldercare sector in Singapore.

TPG, a global investment firm with a presence in Singapore, submitted an application to CCCS on 29 August. The firm, through its Invest Healthcare Group, operates Orange Valley nursing homes and provides non-residential care services in Singapore. Econ Healthcare, meanwhile, operates eight medicare centres and nursing homes across Singapore, China, and Malaysia.

The overlap between TPG’s Invest Healthcare Group and Econ Healthcare in both residential and non-residential care services is a focal point of the consultation. CCCS is particularly interested in understanding how this acquisition might affect competition in these markets.

Public feedback can be submitted via the CCCS online form or by email, with the option to provide non-confidential versions of submissions if necessary. More details about the consultation process are available on the CCCS website.

The outcome of this consultation could have significant implications for the eldercare market in Singapore, potentially influencing service availability and pricing for consumers.
“`

Franklin Templeton has announced that its first Evergreen Private Equity Secondaries Strategy, co-managed with Lexington Partners, has exceeded US$1.2 billion in assets under management. This achievement follows the strategy’s successful launch earlier this year, highlighting strong international demand for private equity secondaries in an evergreen structure. The strategy has attracted investors from regions including Asia Pacific, Europe, the Middle East, Africa, Canada, and Latin America.

Tariq Ahmad, Head of Asia Pacific, noted the significant growth in private market funds in the Asia Pacific region, driven by wealth managers and their clients seeking flexible, long-term investment solutions. “With private markets expected to exceed US$277 billion in assets by the end of 2028, wealth managers are uniquely positioned to harness this momentum,” Ahmad stated.

The strategy is designed for accredited investors and wealth channel clients, offering greater transparency, accessibility, and potential for earlier liquidity. Christian Bucaro, Head of Wealth, Asia, emphasised the collaboration between Lexington’s expertise and Franklin Templeton’s global scale, stating, “We have created a differentiated evergreen strategy that opens up high-quality private market opportunities to wealth investors worldwide.”

The strategy’s launch coincided with a pivotal moment in private equity, as investors sought to navigate allocations across sub-strategies. The availability of evergreen funds has expanded the investment landscape, offering benefits such as flexibility and periodic redemptions. Secondaries, with their portfolio diversification and enhanced liquidity management, are particularly well-suited for evergreen structures.

Franklin Templeton’s Asia Wealth Management team supports distribution partners across Asia, extending beyond traditional investment offerings to include a diverse range of alternative asset capabilities.
“`

Dengue infection can ‘re-programme’ the immune system, leaving a lasting genetic imprint that influences future responses to infections, according to a study by Duke-NUS Medical School. This discovery, published in the journal Med, highlights why vaccines are more effective in individuals with prior dengue infections and suggests pathways for developing safer vaccines.

Dengue, a mosquito-borne virus, affects millions annually in tropical regions. The study found that those previously infected with dengue displayed distinct gene activity patterns in immune cells, unlike those who were only vaccinated. Dr Eugenia Ong, the study’s first author, noted, “Our findings show that natural dengue infection can leave a lasting genetic imprint on the immune system.”

The research involved a clinical trial with 26 US volunteers and 50 from Singapore, comparing immune responses between those with and without prior dengue infections. The study revealed that prior infection led to a stronger immune response to the first vaccine dose. Professor Ooi Eng Eong explained, “The immune system only gets a real workout from the full game—the equivalent of a natural infection.”

This genetic imprinting, also seen in diseases like malaria, suggests that the type and intensity of infection are crucial. Professor Patrick Tan emphasised the study’s significance, stating, “These insights are vital not only for developing better vaccines but also for guiding global and national health policies.”

The findings aim to encourage further research into immune reprogramming and its implications for other infections and vaccines, potentially shaping future health policies on dengue vaccination.
“`

APAC Realty Limited has announced a proposed 1-for-5 bonus share issue to commemorate its eighth anniversary as a Mainboard-listed entity on the Singapore Exchange (SGX-ST). This initiative aims to reward shareholders for their ongoing support and enhance the trading liquidity of the company’s shares. If approved, shareholders will receive one fully paid bonus share for every five ordinary shares held, with fractional entitlements disregarded.

The company has consistently demonstrated strong shareholder returns since its 2017 listing, maintaining an average dividend payout ratio of 78.7% and declaring over $91.2 million (S$124.6 million) in dividends. The annualised dividend yield for the first half of 2025 stood at 11.5%, reflecting the resilience of APAC Realty’s business model. CEO Marcus Chu stated, “This bonus issue marks an important milestone in APAC Realty’s journey as a listed company, and is a gesture of gratitude to our shareholders for their trust.”

The proposed bonus issue will add up to 71,839,540 new shares, representing about 16.67% of the enlarged issued and paid-up share capital. This move is expected to broaden the shareholder base and support long-term value delivery.

APAC Realty’s recent financial performance has been robust, with a 28.8% increase in revenue to $250.1 million (S$341.5 million) in the first half of 2025, driven by strong brokerage income from new home sales. The company anticipates continued growth in Singapore’s residential property market, supported by population growth and a steady pipeline of projects. Regionally, investments in Indonesia and Vietnam are expected to yield positive results in the coming years.
“`

Design Bridge and Partners, a global strategic design agency, has unveiled a comprehensive brand refresh for Great Eastern, Singapore’s oldest insurance brand. This transformation, which is being implemented across Singapore, Malaysia, and Indonesia, marks a significant milestone in the brand’s 117-year history. The new visual identity is designed to honour Great Eastern’s heritage whilst positioning it as a modern industry leader.

The agency’s approach focused on maintaining the deep trust Great Eastern has built over the years, whilst ensuring the brand remains competitive in a rapidly digitalising industry. By leveraging the brand’s strong assets, Design Bridge and Partners developed a distinctive and dynamic design system that aims to inspire a new era of greatness for the company.

This brand refresh is crucial as it addresses the challenges faced by Great Eastern in staying relevant amidst industry transformations. The modernised visual identity not only aims to attract a new generation of customers but also reinforces the brand’s commitment to its long-standing values.

As Great Eastern steps boldly into the future, this strategic move is expected to enhance its market presence and drive growth across the region. The refreshed brand identity signifies a blend of tradition and innovation, ensuring that Great Eastern remains a trusted name in the insurance sector for years to come.
“`

Azimut Group has announced the appointment of Stefano Chao as Head of Asia and Chief Executive Officer of Azimut Singapore, effective August 2025. Based in Singapore, Chao will oversee Azimut’s operations across its regional offices in Singapore, Shanghai, Hong Kong, and Taipei, reporting directly to Group CEO Giorgio Medda. This move underscores Azimut’s commitment to accelerating its growth in the Asian market.

Chao, who joined Azimut Group in 2011, previously served as General Manager and Legal Representative of Azimut China. His experience includes developing the Private Fund Manager (PFM) and Qualified Domestic Limited Partnership (QDLP) businesses in China. Before joining Azimut, Chao was Vice President at Lehman Brothers in New York. He holds a BA in Economics from Yale University and an MBA from CEIBS.

In his new role, Chao aims to enhance the coordination and integration of Azimut’s operations within Asia and strengthen collaboration with the group’s global network, which spans 20 countries. His priorities include expanding the fund business and developing cross-border solutions for private and institutional clients in the region.

Azimut Group, listed on the Milan Stock Exchange since 2004, manages assets worth over $124 billion (SGD 170 billion) globally, with more than $2.6 billion (SGD 3.6 billion) managed by Azimut Singapore. The group operates with a team of over 2,200 financial advisers and 1,700 employees worldwide, including more than 70 in Singapore. Azimut specialises in asset management, wealth management, investment banking, and fintech, focusing on emerging markets.
“`

Singapore Post (SingPost) has launched a new stamp series featuring four critically endangered animal species native to Singapore. This initiative, announced on 8 September, is part of SingPost’s ongoing efforts to raise awareness about local biodiversity. The stamp set follows a similar release focusing on Singapore’s endangered flora earlier this year.

The featured species include the Malayan horned frog, known for its unique appearance and reliance on dwindling forest habitats; the Harlequin butterfly, which faces threats from habitat destruction; the Spoon-billed sandpiper, a migratory bird at risk due to loss of stopover sites; and the Large flying fox, a fruit bat threatened by habitat degradation and hunting.

The designs were developed in collaboration with the Lee Kong Chian Natural History Museum (LKCNHM). Associate Professor Darren Yeo, head of LKCNHM, emphasised the stamps’ role in symbolising Singapore’s natural heritage. Neo Su Yin, SingPost’s Group Chief Operating Officer, stated, “By celebrating these critically endangered native species, we aim not only to raise awareness but also to inspire lasting appreciation of Singapore’s unique biodiversity.”

The stamps will be officially released on 19 September and are available for preorder at a symposium hosted by LKCNHM on 6 September. They can be purchased at post offices, Philatelic Stores, and online.

SingPost, a leading postal and eCommerce logistics provider in Asia Pacific, continues to integrate sustainability into its operations, engaging the community to support conservation efforts.
“`

Manulife has launched its enhanced ManulifeMOVE platform at the inaugural Longevity Symposium in Asia, held on 6 September at Marina Bay Sands Expo and Convention Centre, Singapore. The event gathered over 1,000 healthcare experts, industry leaders, and partners to discuss strategies for living longer and better. The symposium, graced by Minister of State Jasmine Lau, highlighted the importance of longevity and wellness in the region.

The enhanced ManulifeMOVE platform now features six key pillars aimed at providing holistic support for customers navigating life’s transitions. These include healthcare, home and nursing care, fitness and wellness, lifestyle privileges, legacy planning services, and community engagement. Harshal Shah, Chief Marketing & Experience Design Officer at Manulife Asia, stated, “With ManulifeMOVE, we’re giving customers the power to take charge of their health and financial choices.”

Additionally, the symposium announced the winners of the UpLink Challenge, a collaboration with the World Economic Forum, aimed at fostering multigenerational resilience in Asia. The ten winning ventures, selected for their innovative solutions, will join UpLink’s Innovation Ecosystem, gaining access to networking and partnership opportunities.

The event underscores Manulife’s commitment to advancing longevity in Asia, building on previous symposiums held in Boston. Benoit Meslet, President and CEO of Manulife Singapore, emphasised the company’s role in empowering customers to make informed decisions for their health and financial futures. As longevity reshapes societies, Manulife aims to lead with purpose and innovation, helping people live not only longer but better.
“`

Singapore’s job market is showing signs of cooling as employers adopt a more cautious approach to hiring, according to the latest ManpowerGroup Employment Outlook Survey. The survey, which polled 524 employers, indicates that the Net Employment Outlook (NEO) for Q4 2025 stands at 20%, a decline of 17% from the previous quarter and 31% year-on-year.

Nearly half of the surveyed employers, 45%, plan to maintain their current staffing levels, citing confidence in their existing teams. Meanwhile, 32% of employers are increasingly turning to temporary workers for specialised short-term tasks, with 34% using them for seasonal or surge support. This trend narrows the gap with permanent employees, who are utilised by 29% of employers for similar roles.

The survey highlights significant challenges in talent acquisition, with 50% of employers struggling to attract qualified candidates. Filling complex technical roles and improving the candidate experience are also noted as key difficulties, affecting 34% and 30% of employers, respectively.

Work-life balance emerges as a leading retention strategy, with 56% of employers prioritising it to retain talent. This is particularly evident in the Financials and Real Estate sector, where 67% of employers emphasise work-life balance as a retention tool.

As Singapore’s employment landscape evolves, the focus on flexible workforce strategies and retention through work-life balance could shape future hiring practices.
“`