Industry News

Singapore’s Lien Foundation and Tan Tock Seng Hospital have launched the Lien Collaborative for Palliative Care in Beijing, a three-year initiative designed to enhance palliative care capabilities in the Chinese capital. This programme seeks to address the challenges posed by ageing populations and the increasing demand for patient-centred care in both countries.

The initiative aims to train more than 1,000 Chinese healthcare professionals and improve palliative care delivery across at least eight institutions in Beijing. It supports China’s national efforts to expand palliative care by tackling issues such as the shortage of trained specialists and the lack of public awareness.

Key components of the programme include the development of online teaching modules for medical professionals, biannual Train-the-Trainer workshops, and fortnightly Online Complex Case Conferences. Additionally, a four-week Clinical Observership Programme in Singapore will offer selected Chinese doctors clinical training and exposure to Singapore’s palliative care ecosystem. The programme will also produce public advocacy videos to encourage end-of-life discussions.

Participating institutions in Beijing include Peking Union Medical College Hospital, Beijing Haidian Hospital, and Sereniturn Palliative Care. These institutions will collaborate to develop treatment protocols and practice guidelines tailored for China.

The initiative also provides an opportunity for Singaporean doctors to learn from Chinese experts about Traditional Chinese Medicine and humanistic care models for end-of-life treatment. This exchange of knowledge is expected to foster long-term policy and ecosystem reform in palliative care.

SC Capital Partners, a prominent Asia Pacific real estate investment manager, has initiated construction of a significant Grade A industrial park in Ras Al Khaimah, United Arab Emirates. This development marks the firm’s first project under the SC GCC Real Estate Industrial Development Fund (GRID), co-sponsored with CapitaLand Investment Limited. The industrial park, located in the Ras Al Khaimah Economic Zone, spans approximately 300,000 square metres and incorporates sustainability features such as water-saving systems.

The project aims to meet the growing demand from high-tech manufacturers and logistics firms for modern, high-specification facilities in the UAE. Interest from potential tenants has already surpassed the planned gross floor area, highlighting the demand for institutional-quality industrial assets in the region. Suchad Chiaranussati, Chairman and Founder of SC Capital Partners, stated, “Breaking ground on this project is a tangible demonstration of our ability to convert strategy into execution in the GCC.”

SC Capital Partners has also appointed Yazan Masri as Managing Director, Investments (Middle East). Based in Abu Dhabi, Masri will lead the firm’s investment and business development activities across the Middle East. He brings over 20 years of experience in real estate private equity and principal investing, having held senior roles at Abu Dhabi Capital Group and Al Mal Capital PSC.

Masri expressed enthusiasm about his new role, saying, “I am pleased to join SC Capital Partners as it breaks ground on its first GCC industrial park.” His appointment is expected to strengthen SC Capital Partners’ leadership as it expands its Middle East platform and investments in GRID and other regional strategies.

Singapore’s inflation rate is expected to rise to 1.5% in 2026, according to RHB Bank’s latest Global Economics and Market Strategy Report. The forecast, attributed to Barnabas Gan, Group Chief Economist and Head of Market Research at RHB Bank, highlights three key factors influencing this trajectory: favourable economic conditions, private consumption support, and global commodity price fluctuations.

Currently, both headline and core Consumer Price Index (CPI) figures remain steady at 1.2% year-on-year, consistent with RHB’s and Bloomberg’s estimates. This stability follows an average headline and core inflation rate of 0.9% and 0.7%, respectively, in 2025.

The report underscores the importance of monitoring global commodity prices, which could impact inflation rates. As Singapore navigates these economic factors, the forecasted inflation rate reflects a balance between domestic economic strength and external influences.

Looking ahead, RHB Bank’s analysis suggests that Singapore’s inflation will remain manageable, with economic conditions and consumption patterns playing pivotal roles. The bank’s previous report, released on 16 January, expressed optimism about export prospects in 2026, further supporting a stable economic outlook.

OCBC has announced the formation of a dedicated securities financing unit, marking it as the first Singapore bank to do so. This initiative aims to enhance the bank’s offerings for institutional clients. Jansen Chua, an industry veteran with over 25 years of experience, has been appointed as the Head of Securities Finance, effective 2 January 2026. Chua will report to Kenneth Lai, Head of Global Markets.

The new unit will focus on mobilising lendable securities, including equities and fixed income, from OCBC’s clients and subsidiaries such as OCBC Securities, Bank of Singapore, and Great Eastern. This move is designed to meet the increasing global demand for securities financing, allowing clients to earn fee income by lending their idle securities.

The demand for securities financing has surged globally, driven by a focus on balance sheet efficiency and optimisation. According to EquiLend Data & Analytics, global securities lending revenues reached a record $15.3b in 2025. Buy-side firms are seeking partners to optimise liquidity, meet collateral obligations, and implement hedging strategies in volatile markets.

Chua joins OCBC from State Street Bank & Trust Company, where he was Senior Managing Director and Head of Financing Solutions for Asia Pacific. His extensive experience spans the US, Europe, the Middle East, Africa, and Asia-Pacific, making him well-suited to lead this strategic initiative.

This development positions OCBC to better support its institutional clients in executing trading and hedging strategies, meeting settlement obligations, and optimising capital usage.

Mapletree Investments and Mapletree Pan Asia Commercial Trust have appointed SP Group to design, build, and operate a Distributed District Cooling (DDC) system in Singapore’s HarbourFront Precinct. This initiative is part of Mapletree’s strategy to rejuvenate the area and enhance energy efficiency, aligning with their commitment to achieving net zero emissions by 2050.

The DDC system will interconnect five buildings, including Bank of America HarbourFront and VivoCity, to improve cooling efficiency and reduce costs. With a cooling capacity of 17,150 refrigeration tonnes, the system is expected to save over 5% in cooling-related expenses annually and cut carbon emissions by about 13,700 tonnes over 20 years. This reduction is equivalent to the emissions from powering 550 three-room HDB households annually.

Amy Ng, Regional CEO of Mapletree, highlighted the project’s benefits, stating, “This allows assets in the precinct to achieve better space utilisation and shared savings whilst Mapletree embeds green solutions across our portfolio.”

Sharon Lim, CEO of MPACT Management Ltd., added that the project supports collective sustainability goals.

The DDC system will be implemented in two phases starting in 2027, with full operation expected by 2031. This marks Singapore’s second brownfield DDC deployment, following a successful implementation at Tampines Central. The project underscores the potential for DDC systems to enhance energy efficiency in mature districts, contributing to Singapore’s climate objectives.

Singapore’s core Consumer Price Index (CPI) experienced a notable rebound in December 2025, rising by 0.4% month-on-month, according to UOB Global Economics and Markets Research. This increase follows a slight decline of 0.1% in November and translates to a 1.2% year-on-year rise, aligning with Bloomberg’s consensus but slightly below UOB’s forecast of 1.3%.

The uptick in core CPI was largely attributed to holiday-related demand, with significant contributions from sectors such as clothing and footwear, other transport services, food, and recreation. Notably, airfares surged by 10.4% month-on-month, reflecting a stronger-than-seasonal increase. Land transport services also saw a rise, partly due to a 5% hike in bus and train fares effective from 27 December 2025.

Headline CPI increased by 0.3% month-on-month in December, driven by the same core components, whilst accommodation costs remained stable and private transport costs decreased. Despite the momentum, UOB notes that much of the increase is temporary, with limited signs of a broad-based price pickup.

UOB maintains its 2026 core and headline inflation forecasts at 1.5%, with potential upward risks due to a reduction in the Certificate of Entitlement (COE) supply and a 3% decline in household electricity tariffs for the first quarter of 2026. The Monetary Authority of Singapore (MAS) is expected to update its inflation forecasts in the upcoming Monetary Policy Statement on 29 January, with potential adjustments to the core and headline inflation forecast ranges.

Oracle has announced a collaboration with Digital Industry Singapore (DISG) to advance the Enterprise Compute Initiative (ECI), aiming to accelerate AI adoption across industries in Singapore. The initiative, supported by the Oracle AI Customer Excellence Centre, will help companies establish in-house AI teams or AI Centres of Excellence (CoEs).

Oracle is committing up to S$250,000 per company to empower 300 Singapore-based organisations through Oracle Universal Credits, training, certification, and discovery workshops. Additionally, Oracle will sponsor up to S$1.9m for enterprises requiring private cloud infrastructure, enabling access to Oracle Private Cloud Appliance and Oracle Exadata. This effort, combined with the Singapore Government’s support covering 70% of consultancy costs, aims to lower barriers and enable enterprises to adopt AI at scale.

Philbert Gomez, senior vice president and executive director of DISG, stated, “This collaboration will accelerate companies’ AI ambitions in Singapore, strengthening our position as a global AI hub.”

The initiative is designed to help organisations train teams, test innovations in secure cloud environments, and transform critical business operations. Oracle’s executive vice president, Garrett Ilg, highlighted the transformative power of AI, saying, “AI is transforming everything from how organisations operate to how people learn and innovate.”

Oriental Remedies, a leading Traditional Chinese Medicine clinic chain, is among the companies exploring partnerships with Oracle through the ECI. Beatrice Liu, CEO and Co-Founder of Oriental Remedies Group, expressed enthusiasm for the collaboration, aiming to enhance patient experience and automate processes.

This partnership underscores Singapore’s commitment to becoming a global AI hub, fostering innovation and competitiveness through technology.

Enterprise Singapore (EnterpriseSG) and Grab have entered into a three-year partnership to bolster the resilience of Singapore’s food and beverage (F&B) sector. This collaboration, formalised through a Memorandum of Understanding (MOU), aims to address challenges such as rising operating costs and manpower constraints by enhancing market visibility and equipping businesses with data insights.

The initiative will benefit over 12,000 F&B companies, offering them access to key data and industry insights to refine growth strategies. Additionally, more than 400 companies annually will participate in capability-building masterclasses and gain exposure through Grab’s Dine Out initiative. This programme will launch targeted campaigns in precincts like Jalan Besar, Holland Village, and Tanjong Pagar to drive consumer demand.

Jeannie Lim, Assistant Managing Director at EnterpriseSG, emphasised the importance of adapting to evolving consumer behaviours, stating, “Partnerships with key industry players like Grab help us provide our F&B businesses with meaningful data insights and the digital capabilities needed to stay ahead.”

Grab’s Managing Director, Alejandro Osorio, highlighted the cultural and economic significance of local F&B businesses, noting, “We are fuelling the revitalisation of local businesses and building the resilience required to safeguard livelihoods.”

The partnership will also offer free access to industry insight reports and practical workshops through GrabAcademy, focusing on consumer trends and digital marketing. These efforts aim to empower F&B businesses to thrive in an evolving landscape, ensuring their long-term sustainability and growth.

The Agency for Science, Technology and Research (A*STAR) and Halliburton have inaugurated the Next-Generation Energy Xccelerator Joint Lab (NEX Lab) in Singapore. This S$35m initiative seeks to accelerate the development and commercialisation of advanced well completion technologies for the energy sector.

NEX Lab will integrate design, prototyping, and validation activities to streamline the transition from early-stage innovation to field deployment. The project focuses on improving manufacturing processes, pioneering new materials, and exploring emerging energy systems. This collaboration aims to bolster Singapore’s position as a global hub for advanced manufacturing and energy solutions.

Shawn Stasiuk, senior vice president of Halliburton Completion and Production division, stated, “NEX Lab brings together Halliburton’s global expertise in well completions and A*STAR’s multidisciplinary research capabilities to advance cutting-edge technology that shapes the future of energy.”

Prof Lim Keng Hui, assistant chief executive of A*STAR’s Science and Engineering Research Council, highlighted the lab’s role in creating opportunities for scientific and engineering talent and developing local suppliers to strengthen high-value energy supply chains.

Halliburton, which has been operating in Singapore since 1973, has invested over S$2m in research and development through its collaboration with A*STAR since 2019. The company’s presence in Singapore includes a 500,000-square-foot Completion Technology and Manufacturing Centre, underscoring the city-state’s role as a trusted base for high-value manufacturing and applied research and development.

Nera Telecommunications Ltd has announced the acquisition of multiple contracts valued at over S$15m from two leading service providers in Southeast Asia. These agreements aim to bolster digital commerce solutions in rural areas, contributing to economic development in the region.

The first contract involves renewing a frame agreement, which includes delivering smart services training programmes and deploying personnel across nearly 100 sites. This contract also features a 12-month managed services component, providing operational support, maintenance, and network performance monitoring through a Network Operations Centre (NOC).

The second contract comprises variation orders for similar smart services initiatives, extending the deployment of training programmes and personnel to more than 100 sites. This agreement includes a managed services component lasting up to 60 months, covering NOC support, operations, maintenance, and network performance monitoring.

These contracts are expected to positively impact Nera Telecommunications’ financial performance for the current year. The company’s efforts to support enterprises in rural communities align with broader economic development goals in Southeast Asia.