Industry News

Singapore’s Briefcase Index has unveiled a new ranking of the top 10 industries offering the highest returns for foreign investors, based on foreign direct investment (FDI) returns in 2024. The ranking highlights Computers & Peripheral Equipment as the leading sector, boasting a remarkable 299.2% return. This announcement comes as Singapore continues to attract high-value investments in sectors like semiconductors, advanced manufacturing, and digital infrastructure.

The ranking, derived from the latest data by the Singapore Department of Statistics, places Banks in second with a 50.0% return, followed by Non-Freight Water Transport Services at 36.1%. A spokesperson from Briefcase Index noted, “Singapore’s strongest foreign-investor returns are showing up in sectors where scale, specialisation, and pricing power matter most.”

The list further includes Semiconductor Devices at 29.2%, Freight Water Transport at 27.3%, and Refined Petroleum Products at 24.8%. Wholesale Trade and Miscellaneous Electronic Products also feature prominently, with returns of 23.7% and 23.3% respectively. Electrical Machinery & Apparatus and Insurance Services round out the top 10, with returns of 14.7% and 14.4%.

This ranking underscores Singapore’s strategic focus on sectors where it holds significant operational advantages, offering a concentrated return profile for foreign investors. As the city-state continues to position itself as a hub for high-value investments, these insights provide valuable guidance for potential investors.

Horizon Quantum, a Singapore-based pioneer in quantum software, has made history by becoming the first pure-play public quantum software company to trade on the Nasdaq stock exchange under the ticker “HQ”. This milestone follows the completion of its business combination with dMY Squared Technology Group, which was finalised on 19 March after receiving shareholder approval.

The transaction has brought Horizon Quantum approximately $120m in additional revenue, which the company plans to invest in research and development, enhancing its hardware testbed, and advancing its integrated development environment, Triple Alpha. The company’s PIPE investment was significantly oversubscribed at $110 million, highlighting the growing interest in quantum computing as it approaches practical application.

This listing is a significant step for Singapore’s ambitions in the global quantum race. The Singaporean Government has committed S$300m to quantum computing over five years, with the Monetary Authority of Singapore investing an additional S$100m in quantum and AI for finance. Horizon Quantum further solidified its position by launching its own hardware testbed in December 2025, becoming the first quantum software company to own and operate a quantum computer.

Dr Joe Fitzsimons, Founder and CEO of Horizon Quantum, expressed optimism about the future of quantum computing, stating, “With today’s closing and our Nasdaq listing, Horizon Quantum is positioned to deliver the software infrastructure that will power this next phase of computing.”

The quantum sector is anticipated to be the next major disruptive technology, with McKinsey estimating the market could reach $100b within the decade. As Horizon Quantum begins its journey on Nasdaq, it sets a precedent for future developments in the quantum computing industry.

Matrixport has announced a significant rebranding to BIT, signalling its strategic repositioning within the digital asset financial infrastructure sector. This change reflects the company’s ongoing development as digital asset markets continue to grow, with increasing participation from both institutions and individual investors worldwide.

The rebranding coincides with the release of BIT’s 2026 Trust Whitepaper, which outlines the governance, risk management, and operational frameworks that underpin its services. This document aims to provide a comprehensive overview of the firm’s commitment to governance, compliance, and operational excellence.

John Ge, CEO of BIT, commented on the rebranding, stating, “Digital asset markets are entering a phase in which governance, transparency, and operational discipline are increasingly important. BIT reflects the continued evolution of our business and our commitment to building trusted digital asset financial infrastructure.”

The transition to BIT will not affect existing client accounts, products, or services, and all legal entities and contractual arrangements will remain unchanged. Additionally, the Singapore-headquartered firm is exploring potential opportunities in the US capital markets, including a possible public listing.

Founded in 2019, BIT has grown into a unicorn with a valuation exceeding $1b. The company manages over $6b in assets and facilitates more than $7b in monthly trading volume. BIT offers a range of digital financial services, including custody, trading, asset and wealth management, and tokenised real-world assets.

With a licensed and regulated presence in multiple countries, BIT continues to bridge traditional finance and digital assets through disciplined governance and advanced technology.

Genting Singapore has released its 2025 Annual Report and Sustainability Report, detailing a transformative year for the company and Resorts World Sentosa (RWS). The reports highlight Genting Singapore’s strides in sustainable tourism and its ongoing transformation strategy, RWS 2.0, aimed at enhancing guest experiences and establishing RWS as a premier destination.

Key developments in 2025 include the opening of major attractions such as Illumination’s Minion Land at Universal Studios Singapore, the WEAVE lifestyle precinct, the Singapore Oceanarium, and The Laurus, a Luxury Collection Resort. These additions have bolstered the resort’s appeal, drawing significant interest from both local and international visitors.

The company also received several accolades. In sustainability, Genting Singapore achieved an ‘A-’ score in the CDP’s 2025 Climate Change assessment and maintained an AA rating in the MSCI ESG Ratings report.

Tan Sri Lim Kok Thay, Executive Chairman and Acting CEO, remarked, “2025 marked the beginning of our multi-year transformation strategy, reflecting our vision to become Asia’s premier lifestyle destination whilst remaining responsive to the shifting dynamics of global travel.”

These developments underscore Genting Singapore’s commitment to sustainable growth and innovation, setting the stage for continued success in the coming years.

Etiqa Insurance Singapore and AIA Singapore have announced a strategic partnership to enhance the accessibility of Shariah-compliant Takaful solutions throughout Singapore. This collaboration seeks to advance the Islamic insurance landscape by offering ethical, transparent, and socially responsible financial solutions to a wider audience, including both Muslim and non-Muslim customers.

Under this agreement, Etiqa’s suite of Family Takaful products will be distributed via AIA Singapore and AIA Financial Advisers. This distribution channel, the largest in the nation, comprises over 6,300 professional AIA insurance representatives, significantly increasing the reach and choice for customers seeking values-aligned protection and savings options.

The global Takaful market is experiencing significant growth, projected to expand from $36.5b in 2025 to $63.6b by 2030, with a compound annual growth rate of 11.7%. Etiqa Insurance Singapore has noted strong momentum in its Takaful offerings, driven by rising consumer awareness and confidence in Shariah-compliant financial protection.

Claudia Soh, Acting CEO of Etiqa Insurance Singapore, stated, “This partnership marks an important step in advancing access to Shariah-compliant protection and savings solutions in Singapore.” Alvin Fu, Chief Distribution Officer at AIA Singapore, added, “By integrating Etiqa’s Shariah-compliant expertise with our professional representatives, we can serve a wider customer base.”

The partnership also aims to raise awareness and understanding of Takaful solutions through educational programmes and community engagement, empowering consumers to make informed decisions on financial protection and savings.

Gen Z and millennial high-net-worth investors are transforming the landscape of private wealth management, according to a recent survey by the CFA Institute. The research, titled “NextGen Investors: A Guide for Wealth Managers and Financial Advisers,” highlights the evolving expectations of these younger investors, who are set to inherit trillions in the Great Wealth Transfer. The survey, which included over 2,400 affluent investors from countries such as Singapore, the UK, and the US, reveals a strong preference for personalised and digital financial advice.

In Singapore, 70% of young investors anticipate receiving an inheritance, with 50% holding exchange-traded funds (ETFs), a significant increase compared to older generations. Cindy Tan, President of CFA Society Singapore, noted the confidence among young investors in achieving their financial goals, with a focus on stocks, ETFs, and cryptocurrency. The survey also found that these investors heavily utilise digital communication channels, indicating a shift towards advisory models that integrate technology and human expertise.

Rhodri Preece, Senior Head of Research at CFA Institute, emphasised that Gen Z and millennial investors are redefining wealth management by seeking holistic advice and frequent digital engagement. They expect real-time information and investment options that align with their life goals. Genevieve Hayman, Senior Researcher at CFA Institute, added that these investors are not abandoning professional advice but are seeking collaborative models that combine human expertise with technology.

The survey underscores the need for wealth managers to adapt to these changing demands, with technology, including AI, playing a crucial role in delivering personalised and trustworthy advice.

CapitaLand Ascendas REIT has acquired a 100% interest in 25 Loyang Crescent, a transaction facilitated by CBRE’s Industrial Capital Markets team. This acquisition underscores Singapore’s appeal as a stable investment hub, driven by its robust economic fundamentals and political stability, according to Loh Lee Fen, Head of Industrial Capital Markets at CBRE.

The acquisition comes at a time when interest rates have softened to their lowest levels since 2022, enhancing buying momentum in the market. Loh highlighted the strong investor appetite for high-quality industrial real estate, particularly those assets offering long-term income security. “Well stabilised assets with good tenant covenant and long leases are popular given the resilience and clarity of income they provide in today’s environment,” she noted.

This move by CapitaLand Ascendas REIT reflects a broader trend of investors seeking stable and reliable income streams amidst fluctuating economic conditions. The acquisition of 25 Loyang Crescent is expected to further solidify the REIT’s portfolio, providing a steady income flow and reinforcing its position in the industrial real estate sector.

As interest rates remain low, the demand for industrial properties with strong tenant covenants and long leases is likely to continue, potentially leading to more acquisitions in the sector. This trend highlights the ongoing attractiveness of Singapore’s industrial real estate market to both local and international investors.

CapitaLand Ascendas REIT (CLAR) has announced the acquisition of two assets in Singapore and a significant stake in a data centre in Japan, totalling S$1.4b. The acquisitions include a 100% interest in 25 Loyang Crescent for S$504.2m and a 50% interest in Ascent at 2 Science Park Drive for S$245m. Additionally, CLAR is entering the Japanese market with a 49% interest in a Tier III hyperscale data centre in Greater Osaka for S$620.7m.

These strategic acquisitions are part of CLAR’s portfolio rejuvenation strategy, aimed at enhancing earnings resilience and portfolio quality. The acquisitions are expected to be distribution per unit (DPU)-accretive, with a projected increase of approximately 0.318 Singapore cents or 2.1% if completed by 1 January 2025.

William Tay, CEO of CapitaLand Ascendas REIT Management Limited, stated, “These three new accretive acquisitions reaffirm our commitment to build a high quality and resilient CLAR portfolio.” He highlighted the expansion into Japan as a strategic move to diversify CLAR’s global data centre portfolio.

The acquisitions will increase CLAR’s assets under management in Singapore to approximately S$13.2b, maintaining a Singapore-centric portfolio with 66% of its total AUM in the country. The entry into Japan marks a significant step into a market with robust data centre demand, driven by AI investments and cloud expansion.

The total acquisition outlay is expected to be S$1,410.3m, with financing partially through an equity fundraising. The acquisition of Ascent was completed on 23 March 2026, with the remaining acquisitions expected in the second and third quarters of 2026.

Singapore’s economic outlook faces significant challenges as the ongoing US/Israel-Iran conflict exacerbates inflationary pressures, according to UOB Global Economics and Markets Research. The conflict has led to a surge in crude oil and natural gas prices, impacting key sectors such as manufacturing, wholesale trade, and transportation in Singapore.

The report highlights that Singapore’s GDP growth, currently benefiting from AI-related momentum, could suffer if the conflict extends beyond one quarter. The manufacturing sector, which constitutes about 21% of GDP, is particularly vulnerable due to disruptions in semiconductor production caused by helium shortages. This could lead to adverse effects on related sectors, including wholesale trade and transportation.

UOB maintains its GDP growth forecast for Singapore at 3.6% for 2026 but warns of downside risks. The bank also revised its inflation forecasts, projecting headline inflation at 2.0% and core inflation at 1.9% for 2026, up from previous estimates of 1.5%. The report notes that energy prices are likely to remain elevated, with potential long-term impacts due to damaged energy installations in the Middle East.

The Monetary Authority of Singapore (MAS) is expected to tighten monetary policy in response to these inflationary pressures. UOB anticipates a 50 basis points increase in the Singapore dollar nominal effective exchange rate (S$NEER) slope in April 2026, with a further increase projected for October 2026. The report suggests that more aggressive measures could be implemented if inflation exceeds MAS’s baseline projections.

MGI Tech, a leading life sciences company, has announced a collaboration with the National University of Singapore’s (NUS) Pharmacy and Pharmaceutical Sciences department to establish a new Digital and Computational Sciences (DCS) lab. This partnership aims to accelerate innovation in multi-omics, a field that integrates various biological data types, to advance pharmaceutical sciences.

The collaboration will focus on leveraging MGI Tech’s cutting-edge technology and NUS’s academic expertise to drive research and development in multi-omics. The DCS lab will serve as a hub for innovation, enabling researchers to explore new methodologies and applications in pharmaceutical sciences. By combining resources, the partnership seeks to enhance the understanding of complex biological systems and improve drug development processes.

MGI Tech’s spokesperson highlighted the significance of this collaboration, stating, “This partnership with NUS represents a significant step forward in our commitment to advancing multi-omics research. By working together, we can unlock new insights and drive innovation in pharmaceutical sciences.”

The establishment of the DCS lab is expected to foster collaboration between academia and industry, providing opportunities for students and researchers to engage in cutting-edge research. The partnership also aims to contribute to the broader scientific community by sharing findings and advancements in multi-omics research.

As the collaboration progresses, both MGI Tech and NUS anticipate that the DCS lab will play a pivotal role in shaping the future of pharmaceutical sciences, potentially leading to more effective and personalised medical treatments.