Industry News

Institutional investors have shifted their focus towards small- and mid-capitalisation (SMID) stocks, which recorded a net inflow of S$113m last week, even as the market experienced a significant net outflow of nearly S$900m, primarily driven by the three major STI banks. AEM Holdings led the inflow with S$61m, followed by Venture Corporation, UMS Integration, Q&M Dental, and DFI Retail Group.

The technology sector was a major beneficiary, accounting for close to 70% of the inflow value, with AEM Holdings alone representing more than half of the total. However, the buying extended beyond technology, encompassing industrial, consumer, healthcare, and real estate stocks.

Among the 93 SMID stocks that attracted net institutional inflow, 35 had both LSEG Workspace earnings per share (EPS) forecasts and a one-year return on equity (ROE) history. Thirteen of these stocks, which combined positive current and next fiscal year EPS growth with higher ROE than at 30 June 2025, recorded a median net institutional inflow of 6.1 basis points of market capitalisation, compared to 1.9 basis points for the remaining 22 stocks.

The STI’s 4.1% decline last week was largely due to financials, as higher global Treasury yields prompted portfolio rebalancing. Despite this, the 93 SMID stocks with net inflows averaged only a 0.5% decline, indicating selective institutional interest beyond the index heavyweights. This trend highlights a strategic shift in investment focus amidst fluctuating market conditions.

The Monetary Authority of Singapore (MAS) has announced new safeguards for public prospecting activities, following a public consultation aimed at strengthening conduct standards. These activities, often conducted through roadshows, allow financial institutions to engage with consumers in public spaces. However, concerns have been raised about unsolicited and persistent solicitation.

Under the new guidelines, financial institutions must conduct prospecting activities only in designated areas within commercial premises. They are required to appoint qualified individuals to oversee representatives’ conduct during these events. Additionally, representatives must inform consumers upfront about their intention to market financial products or services and obtain consent before proceeding. Street canvassing and door-to-door prospecting remain prohibited.

The updated Guidelines on Standards of Conduct for Marketing and Distribution Activities will incorporate these changes, complementing existing safeguards for digital advertising introduced in September 2025. The guidelines aim to ensure that financial institutions engage consumers responsibly across all channels.

MAS plans to issue the updated guidelines in 2027, with a nine-month transition period for financial institutions to implement the changes. Lim Tuang Lee, Assistant Managing Director (Capital Markets) at MAS, emphasised that the measures are designed to prevent consumers from feeling pressured or caught off guard, ensuring fair and professional treatment.

These enhancements reflect MAS’s commitment to maintaining high standards of conduct in financial marketing, balancing consumer protection with the ability for institutions to engage through appropriate channels.

Temasek Trust and the World Bank Group have signed a memorandum of understanding (MoU) to establish a strategic partnership, aiming to leverage their combined strengths in philanthropy and development finance. This collaboration, announced during the World Bank Group Philanthropy Forum in Bangkok, seeks to advance shared development priorities by focusing on climate, energy, water, agriculture, and health.

The partnership will harness the Temasek Trust Collective’s capital capabilities and innovation networks alongside the World Bank Group’s global expertise and country-level insights. Desmond Kuek, Executive Director and CEO of Temasek Trust, emphasised the importance of bridging systemic gaps and scaling effective solutions, stating, “Philanthropy can move early, take risks, and unlock the partnerships and capital needed to turn bold ideas into lasting impact.”

Paschal Donohoe, Managing Director and Chief Knowledge Officer of the World Bank Group, highlighted the growing need for partnerships, saying, “Philanthropic organisations bring deep expertise and innovative solutions that align closely with our core missions and jobs agenda.”

Under the MoU, both organisations plan to collaborate in three key areas: convening and knowledge exchange, shared knowledge and insights, and coordinating partners and capital towards shared priorities. A regional Knowledge Node will be established at Temasek Shophouse in Singapore in 2027 to connect philanthropic partners with World Bank Group datasets and expertise.

This strategic alliance aims to transform promising pilot projects into scalable models, thereby enhancing their impact on communities worldwide. The collaboration is expected to mobilise additional resources and foster high-level dialogues among governments, businesses, and development institutions.

A shophouse located in the Binjai Park enclave is up for sale through an expression of interest (EOI) exercise, with a guide price set at S$4.4m. The property, marketed by Huttons Asia, offers a 999-year leasehold and is strategically positioned within walking distance of King Albert Park MRT interchange station.

The shophouse spans a strata area of 129 square metres (approximately 1,388 square feet), equating to about S$3,170 per square foot. It is surrounded by various amenities, including restaurants, bakeries, and wellness centres, ensuring a steady flow of foot traffic from local residents. Currently tenanted, the property provides potential buyers with immediate rental income.

Yeo Khee Liang, Associate Senior Marketing Director at Huttons Asia, highlighted the scarcity of such opportunities within the Binjai Park estate, noting that only around 16 similar units exist in the area. “At this entry quantum, we expect strong interest from investors and family offices, as well as owner-occupiers such as boutique operators and wellness or education businesses looking for a foothold in this enclave,” Yeo stated.

The guide price represents a 31% discount compared to a similar unit at 24 Greenwood Avenue, which sold for S$7.1m, or $4,613 per square foot, in July 2026. Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia, remarked on the strengthening interest in the shophouse market, driven by favourable interest rates and limited supply.

The EOI exercise is set to close on 2 November 2026 at 3:00 PM.

Lion Global Investors has achieved a significant milestone by completing the first conversion of fund units from the LionGlobal Singapore Physical Gold Fund into physical gold bars. This transaction, announced on 12 October 2026, allows investors to redeem their units for gold bars stored at Le Freeport in Changi, safeguarded by Standard Chartered as custodian.

The LionGlobal Singapore Physical Gold Fund, launched in December 2025, is Singapore’s first unit trust backed by locally vaulted and insured physical gold. It invests in gold bars accredited by the London Bullion Market Association (LBMA) with a minimum purity of 99.5%. The fund aims to track the LBMA Gold Price AM.

This in-kind redemption process offers investors a seamless transition from fund ownership to physical gold possession, highlighting Singapore’s growing capabilities in wealth management and precious metals trading. Teo Joo Wah, CEO of Lion Global Investors, stated, “This successful in-kind redemption brings that proposition to life, demonstrating a seamless path from fund to physical gold ownership.”

François Verlaine, Regional Head of Securities Services at Standard Chartered, emphasised the robust infrastructure supporting this process, saying, “This milestone underscores the importance of strong execution across the entire value chain.”

Following this inaugural redemption, Lion Global Investors plans to collaborate with industry partners to enhance access to this feature, aiming to simplify the process for investors. This initiative supports Singapore’s ambition to strengthen its position as a global gold hub, offering investors more flexibility in accessing and holding physical gold.

Medical cost growth across the Asia Pacific (APAC) region is projected to slow to 9.7% in 2027, according to a report by Aon. However, Singapore is expected to experience an increase in healthcare cost pressures, with its medical trend rate rising from 13.0% in 2026 to 14.7% in 2027. This contrasts with Malaysia, where the rate is anticipated to decrease from 16.0% to 14.7% over the same period.

The report highlights that, despite a regional moderation, APAC’s medical costs are still expected to rise nearly four times the forecast inflation rate of 2.5%. Singapore and Hong Kong are noted as exceptions to the broader trend of slowing growth in the region. Cardiovascular disease remains the leading driver of medical claims, followed by respiratory conditions and cancer.

Employers are increasingly adopting wellbeing programmes, plan design changes, and flexible benefits to manage rising healthcare costs.

As medical trend rates hold steady or decline in major markets, the global average is expected to reach 9.0% in 2027. However, structural pressures such as chronic disease and ageing populations continue to drive costs, necessitating proactive, data-led approaches to cost management.

Singapore’s small and medium enterprises (SMEs) are increasingly using artificial intelligence (AI) to reclaim time lost to administrative tasks, according to a new report by Xero, a global small business platform. The study, which surveyed over 1,000 local SME decision-makers, reveals that 76% of leadership and finance teams lose between three to more than 10 hours weekly to manual tasks. AI is helping these businesses redirect that time towards growth strategies, market expansion, and product innovation.

The report highlights that 46% of SMEs are investing AI-reclaimed hours into growth strategies, whilst 38% focus on product and service innovation. However, scaling AI remains a challenge, with 31% of businesses citing poor data quality as a barrier to moving AI pilots into regular production. Only 18% of SMEs feel confident that their current software provides sufficient context for automated decision-making.

Despite these challenges, the outlook remains positive. A significant 82% of SMEs report that AI returns have met or exceeded expectations, and 69% plan to increase AI spending over the next year. Government support plays a crucial role, with 63% of SMEs leveraging digital grants for technology deployment and training.

Koren Wines, Managing Director of Xero APAC, noted, “The real dividend of AI isn’t simply doing the same work faster. It’s the capacity it gives back, and business owners are clear they’d reinvest that time in growth, innovation, and their people.”

As AI adoption matures, SMEs are urged to focus on improving data readiness, connecting systems, and managing transition costs to fully harness AI’s potential.

SJ Integrated Solutions (SJ-IS), part of Surbana Jurong Group, and SoftBank Robotics Singapore have announced a partnership to develop an AI-powered facility management solution. This collaboration aims to integrate robotics with building systems and facilities operations, enhancing how buildings are managed and operated.

The partnership will see the deployment of service robotics pilots at various sites in Singapore, including the SJ Campus. The initiative will focus on creating an integrated software offering that allows building owners and facilities teams to better coordinate robotic services and improve operational visibility. SJ-IS will leverage its facilities management expertise and proprietary 24K platform, whilst SoftBank Robotics will contribute its robotics expertise and Smart Building X platform.

The AI-powered solution will connect robotic deployments with facilities workflows and building systems, such as lifts and access control. This integration is expected to provide building owners with clearer visibility of operational performance and outcomes. Alfred Fox, Chief Executive of Integrated Solutions at SJ Group, stated, “Our ambition to advance cognitive cities starts with improving how buildings serve people every day.”

Kenichi Yoshida, Chief Business Officer at SoftBank Robotics Group Corp., highlighted the importance of adapting solutions to different operating conditions and service requirements. The collaboration aims to bring the solution to markets in Singapore, Australia, the wider Asia-Pacific, and the Middle East.

The findings from the pilots will guide the development of the offering, ensuring it meets the practical needs of building asset owners and operators. This initiative marks a significant step towards more responsive and efficient facilities management.

The Singapore Institute of Technology (SIT) has unveiled the SIT School of Lifelong Learning and Career Development, known as SITLEARN, during its Convocation 2026 ceremony. This initiative, attended by Minister for Digital Development and Information Josephine Teo, is set to revolutionise continuing education and training in Singapore by integrating skills assessment, career development, and industry partnerships into a cohesive model.

SITLEARN is designed to support individuals from skills discovery to career progression and assist enterprises in workforce diagnosis and capability building. The school offers new programmes focusing on AI governance, green data centres, and energy-transition safety, developed in collaboration with partners such as Straits Interactive, Nxera, and the Singapore Civil Defence Force.

Bernard Nee, SIT’s Deputy President (Industry & Community) and Dean of SITLEARN, stated, “The challenge facing both workers and employers today is not simply access to more training, but knowing what skills matter, how to acquire them and how to translate them into career and business outcomes.”

The school aims to create a continuous feedback loop where industry needs shape learning, and skilled talent strengthens enterprises. SITLEARN’s Corporate Adjunct Professorship Scheme further involves industry professionals in teaching and mentoring roles, with NCS being the first company to partner under this scheme.

By addressing emerging workforce needs and fostering industry collaboration, SITLEARN is poised to play a pivotal role in preparing Singapore’s workforce for future challenges.

Sun Life Private Wealth has announced the appointment of three senior leaders to bolster its product and market leadership in Singapore and Bermuda. Liem Phan takes on the role of Chief Product Officer in Singapore, Alvin Soh is named CEO of Sun Life Private Wealth Singapore, and Georgina Howes joins as CEO and Country Manager for Sun Life Private Wealth Bermuda.

Liem Phan will oversee product strategy, including design, pricing, and innovation. With over 20 years of experience, he previously led Swiss Re’s Southeast Asia and India business. Alvin Soh, with 16 years of leadership experience, will focus on the growth and development of the Singapore business, having previously served as Chief Distribution & Marketing Officer at FWD Singapore. Georgina Howes, bringing over 25 years of insurance expertise, will drive the Bermuda business, having formerly led Transamerica Life (Bermuda) Ltd.

“These appointments mark an important step in building the leadership team for Sun Life Private Wealth,” said Sujoy Ghosh, CEO of Sun Life Private Wealth. The appointments follow the launch of Sun Life Private Wealth’s integrated platform, aimed at supporting high net worth individuals and families in wealth management.

Sun Life, with over 160 years of global experience, operates in key wealth hubs including Bermuda, Dubai, Hong Kong, and Singapore, and manages assets worth $1.70t as of 30 June 2026.