Industry News

PROPEL with Singlife, a shared services hub for financial advisory firms, has been honoured with the Technology Integration Excellence Award and the Operational Excellence Pioneer Award at the IIC Asia Awards 2025. These accolades highlight PROPEL’s significant contributions to innovation, operational efficiency, and digital transformation within the insurance industry across Asia.

Since its launch in January 2025, PROPEL has positioned itself as a pioneering one-stop solution for both new and established financial advisory firms. By integrating technology into middle-to-back-office workflows, PROPEL is transforming how these firms operate, enhancing efficiency, and elevating client service. Steven Ong, CEO of PROPEL, remarked, “Winning these two industry awards is a validation of our mission to empower FA firms with the tools and support they need to better serve their customers and scale their businesses.”

The Technology Integration Excellence Award acknowledges PROPEL’s success in embedding advanced digital tools into insurance workflows. Meanwhile, the Operational Excellence Pioneer Award celebrates the firm’s achievements in boosting operational efficiency through its multi-tenanted platform and modular support packages. PROPEL’s team of nearly 100 professionals supports client firms in scaling efficiently and cost-effectively.

The awards were presented during the IIC Asia 2025 conference at the Singapore Suntec Exhibition & Convention Centre, an event that gathered over 1,500 senior insurance executives to discuss the future of Asia’s insurance industry. PROPEL continues to be a trusted partner for financial advisory firms, helping them navigate a competitive market with innovative solutions.

The Monetary Authority of Singapore (MAS) has unveiled new initiatives to promote responsible online financial content sharing and advertising. Announced on 25 September 2025, these initiatives include the publication of Guidelines on Standards of Conduct for Digital Advertising Activities, which set expectations for financial institutions to manage risks associated with digital advertising. Additionally, MAS has issued a guide for online content creators to ensure compliance with regulatory requirements.

The guidelines, effective from 25 March 2026, were developed following a public consultation and apply to all financial institutions and their appointed third parties, including online content creators. They focus on managing digital media challenges, ensuring clear disclosures, and establishing policies to monitor advertising activities.

In collaboration with the Advertising Standards Authority of Singapore (ASAS), MAS has also developed a guide titled “7 must-knows when sharing financial information online.” This guide provides content creators with key considerations, such as when a licence from MAS may be necessary and the importance of disclosing any compensation received.

Furthermore, MAS will issue advisory letters to five content creators who may have provided financial advice without a licence, urging them to align their practices with regulatory standards. Those who continue to offer unlicensed financial advice will face enforcement action.

Lim Tuang Lee, Assistant Managing Director (Capital Markets) at MAS, emphasised the importance of responsible information sharing in the digital age, stating, “Financial institutions and content creators must ensure that the sharing of financial information and advertising of products and services are performed responsibly.”

These initiatives underscore MAS’s commitment to safeguarding consumer interests and ensuring the integrity of financial information shared online.

Strategic Marine has commenced construction on three 43-metre passenger fast ferries for Bintan Resort Ferries at its Singapore shipyard. This marks the first collaboration between the two companies, aiming to replace and expand Bintan’s current fleet, which operates between Singapore and Bintan Island.

The new ferries, designed to accommodate up to 293 passengers, including 57 in the exclusive Emerald Class, will comply with the International Maritime Organisation’s High-Speed Craft Code. They promise enhanced comfort and improved design, addressing the growing passenger demand whilst significantly enhancing the travel experience. A key feature of these vessels is their environmental efficiency, with a projected 33% reduction in emissions per passenger mile, achieved through advanced design and propulsion technology.

The keel-laying ceremony, attended by executives from both companies, symbolised the start of construction and a significant step in Bintan Resort Ferries’ fleet renewal. Strategic Marine’s CEO, Chan Eng Yew, expressed gratitude for the trust placed in their capabilities, stating, “We are honoured by the trust Bintan Resort Ferries has shown in our capabilities and thankful for the opportunity to support our Client’s fleet renewal and expansion plans.”

Sebastian Koh, General Manager of Bintan Resort Ferries, highlighted the milestone’s importance, saying, “Today is a significant milestone in BRF’s history. The keel laying, though symbolic, marks the physical commencement of construction for our new ferries.”

These new ferries will play a crucial role in enhancing the connectivity and travel experience for passengers visiting Bintan’s resorts and attractions.

Singapore’s core inflation rate fell to 0.3% year-on-year in August, down from 0.5% in July, according to a report by Nomura Global Markets Research. This decline, driven by reduced service costs such as airfares and holiday expenses, was lower than both the consensus forecast of 0.5% and Nomura’s own prediction of 0.4%. As a result, Nomura has adjusted its 2025 core inflation forecast to 0.5%, the lower end of the Monetary Authority of Singapore’s (MAS) range of 0.5-1.5%.

The report highlights that headline inflation also decreased to 0.5% from 0.6% in July, with accommodation inflation easing slightly and private transport inflation rising due to increased car prices. Despite these changes, sequential headline inflation remained unchanged at 0.0% month-on-month.

Nomura’s analysis indicates that the share of disinflation within the core basket increased to 40.3% in August from 38.7% in July. This trend is attributed to a drop in holiday expense inflation and a slight rise in retail and other goods inflation. The firm expects core inflation to reach a low of 0.1% in September before gradually increasing.

Looking ahead, Nomura anticipates that the MAS will narrow its core inflation forecast range in its upcoming Monetary Policy Statement, expected by 14 October. Despite the subdued inflation figures, Nomura’s FX strategy team predicts that the MAS will maintain its current foreign exchange policy, citing a resilient growth outlook and stable labour market conditions.

Xiaomi has unveiled its latest flagship smartphones, the Xiaomi 15T Series, alongside a new range of AIoT products in Singapore. Launched on 24 September, the Xiaomi 15T and 15T Pro smartphones feature advanced triple camera systems co-engineered with Leica, promising enhanced photography capabilities. Pre-orders for these devices are open until 10 October 2025.

The new AIoT line-up includes 14 products aimed at transforming daily life through smart technology. Highlights include the Xiaomi Watch S4 41mm, which combines elegant design with robust health tracking features, and the Xiaomi Smart Band 10 Glimmer Edition, celebrating a decade of wearable innovation with a stylish, practical design.

In the realm of home cleaning, the Xiaomi Robot Vacuum 5 and 5 Pro offer powerful suction and advanced AI features for efficient cleaning. The Xiaomi Vacuum Cleaner P30 and Truclean W30 Pro Wet Dry Vacuum further enhance home maintenance with lightweight designs and deep-cleaning capabilities.

Xiaomi’s latest offerings also extend to entertainment and personal health, with products like the Xiaomi TV S Pro Mini LED Series 2026 and the Mijia Smart Air Purifier 6. These devices are designed to integrate seamlessly into modern lifestyles, providing enhanced connectivity and convenience.

This expansion of Xiaomi’s AIoT portfolio underscores the company’s commitment to refining human-device interaction and creating more efficient smart home systems. As these products become available, they promise to offer consumers in Singapore a more connected and streamlined living experience.

Centurion Accommodation REIT (CAREIT) has successfully completed its Initial Public Offering (IPO), with the offering being oversubscribed by 16.6 times. The IPO, which raised approximately $563.5m (S$771.12m), marks Singapore’s first pure-play purpose-built living accommodation real estate investment trust. The offering included an international placement and a public offer in Singapore, both of which saw robust demand from investors.

The public offer in Singapore was particularly notable, being oversubscribed by 30.9 times, the strongest response in recent years. The international placement tranche was also well-received, being 16 times oversubscribed, attracting interest from institutional investors, real estate specialist funds, and high net-worth individuals. The offering price was set at $0.64 (S$0.88) per unit.

Tony Bin, CEO of Centurion Asset Management, expressed gratitude for the overwhelming support, stating, “The all-round support from Cornerstone, institutional, and retail investors is a powerful endorsement of our vision to provide investors access to a resilient, high-quality portfolio consistently generating stable cash flows.”

The REIT has secured commitments from 16 cornerstone investors, including prominent names such as FIL Investment Management and abrdn Asia Limited, collectively subscribing for 35.7% of the total units.

Trading of CAREIT units on the Singapore Exchange is set to commence on 25 September 2025. The projected distribution yield for the REIT is 7.47% for 2026 and 8.11% for 2027, promising stable returns for investors.

ComfortDelGro ENGIE, a prominent electric vehicle (EV) charging provider in Singapore, has announced new partnerships with Yinson GreenTech and LHN Energy, significantly expanding its charging network. This development comes as EV registrations in Singapore surged by 63.2% in the first half of 2025 compared to the previous year, highlighting the growing demand for robust charging infrastructure.

The partnerships appoint ComfortDelGro ENGIE as the EV charging point operator for multiple sites managed by Yinson GreenTech and LHN Energy. This expansion brings the total number of active charge points to over 2,100 across more than 510 locations in Singapore and Malaysia. The collaboration aims to enhance charging accessibility and reliability for EV drivers, offering seamless convenience through the CDG ENGIE app, which supports cross-border charging.

Freddie Chew, General Manager of ComfortDelGro ENGIE, stated, “This partnership reflects strong market confidence in our proven track record and operational excellence. We believe that we are best placed to support long-term growth and continuous innovation of the EV charging ecosystem.”

The move positions ComfortDelGro ENGIE as one of the largest EV charging networks in Singapore, aligning with the government’s goal to install charging points at all publicly accessible car parks by 2030. This initiative supports Singapore’s net-zero emissions target by 2050 and is expected to further drive the adoption of electric vehicles in the region.

Australian biotech company and Temasek backed innovator Samsara Eco has appointed Lars Kissau as its first General Manager for Asia, marking a significant step in its regional expansion. Based in Singapore, Kissau will oversee the launch of Samsara Eco’s inaugural 20,000-tonne nylon 6,6 plant in 2028, utilising the company’s EosEco technology. This move is part of Samsara Eco’s mission to establish a circular plastics economy.

Kissau brings over 20 years of experience from BASF, where he led the Net Zero Accelerator, focusing on low carbon and circular economy technologies. His expertise is expected to bolster Samsara Eco’s efforts to meet the growing demand for sustainable materials.

The appointment follows the opening of Samsara Eco’s first industrial-scale recycling plant in Jerrabomberra, Australia. The company aims to address the recycling challenge, as currently only 10% of plastics and less than 1% of textiles are recycled. Samsara Eco’s enzymatic recycling technology, EosEco, aims to change this by recycling previously unrecyclable materials.

Kissau will lead the construction of the new plant, the first of many planned facilities, and expand the regional team to support operations. With Temasek as a lead investor, Samsara Eco is well-positioned to leverage Singapore’s biotech ecosystem for its regional expansion.

The iEdge Singapore Next 50 Index has seen significant growth in value and liquidity during the third quarter of 2025, with Food Empire Holdings leading the charge. The company secured $31.3m (S$42.8m) through a strategic treasury share placement on 24 September, enhancing its market presence and liquidity. This move has propelled Food Empire to become the seventh most actively traded stock in the local market.

Nine out of ten constituents of the iEdge Singapore Next 50 Index recorded higher average daily trading turnover in Q3 2025 compared to the first half of the year. Notable growth was observed in companies such as Banyan Tree Holdings, PropNex, and China Aviation Oil Singapore Corp. Additionally, the price-to-book ratios for nine out of ten constituents have increased, with PropNex and Yangzijiang Financial Holding leading the way.

The iEdge Singapore Next 50 Index, which excludes the 30 most actively traded stocks by market capitalisation, complements Singapore’s established benchmarks. It maintains a combined market capitalisation of $63.8 billion (S$87 billion) and an average daily turnover of $117.2m (S$160m) as of 24 September 2025.

Food Empire’s recent share placement attracted interest from institutional investors, including Amova Asset Management and Lion Global Investors. The placement, priced at $1.85 (S$2.52) per share, represented a 5.38% discount to the previous day’s volume-weighted average price. This strategic move is expected to enhance Food Empire’s trading liquidity and market float, positioning the company for future growth opportunities and strengthening investor confidence.

Solas Fiduciary Services, a leader in directorships and corporate governance, has inaugurated a new office in the Dubai International Financial Centre (DIFC). This strategic move aims to bolster Solas’s presence in key financial hubs worldwide. The Dubai office will enable Solas to offer its international expertise directly to clients in the Middle East, enhancing its services already available in Singapore and Hong Kong.

The expansion into Dubai is seen as a natural progression for Solas, given the region’s commitment to a transparent and well-regulated financial environment. Martin O’Regan, Managing Director of Solas Fiduciary Services, expressed enthusiasm about the new office, stating, “Being in the heart of a thriving financial ecosystem and close to leading global fund managers will accelerate our growth and enhance the value we deliver.”

Corina Quah, Director at Solas, highlighted the alignment between Dubai’s regulatory environment and Solas’s values. The firm, founded in 2016, is Asia’s only independent pureplay directorship provider, with a network spanning the Americas, Caribbean, Europe, MENA, and Asia-Pacific.

Solas’s new office in Dubai is expected to strengthen its governance services and foster new partnerships in the Middle East. The firm remains committed to delivering exceptional governance and supporting clients across the region.