Industry News

FWD Singapore has celebrated its 10th anniversary, highlighting a decade of strategic growth from a digital-first challenger to a multi-channel insurer. The company reported profitable growth in FY2025, driven by investments in technology-enabled distribution and customer experience. A pivotal moment in FWD’s journey was in 2020, when it invested in the Financial Adviser (FA) channel to meet the rising demand for comprehensive financial planning. Today, FWD collaborates with over 40 financial advisory partners and issues more than 600,000 travel policies annually.

As FWD enters its second decade, it is focusing on structural growth areas such as retirement and longevity planning, critical illness solutions, and high-net-worth legacy planning. The company plans to launch new products and initiatives throughout 2026 to build on its momentum. Adrian Vincent, CEO of FWD Singapore, stated, “Our first decade in Singapore has been defined by intentional choices. We recognised that as planning needs become more sophisticated, customers would need advice, not just access.”

FWD’s strategic priorities are shaped by demographic and economic shifts. The company aims to enhance its offerings through AI and digital capabilities, helping customers navigate uncertainty with confidence. In July 2025, FWD Group was listed on the Hong Kong Stock Exchange, providing a solid foundation for future growth. As FWD continues to evolve, it remains committed to delivering personalised financial planning solutions to meet the needs of its diverse customer base.

Singapore’s import and export price indices experienced notable increases in February 2026, according to the latest data from the Department of Statistics. The Import Price Index rose by 1.2% compared to January, driven largely by a 5.0% increase in oil prices. Non-oil imports also saw a modest rise of 0.2%, with machinery, transport equipment, and miscellaneous manufactured articles contributing to the uptick.

The Export Price Index similarly climbed by 1.1% in February, reversing a 0.4% decline in January. This increase was bolstered by a 3.1% rise in oil prices, alongside a 0.7% increase in non-oil exports. Key contributors to the non-oil export growth included machinery, transport equipment, and chemicals.

Year-on-year, however, both indices showed declines. The Import Price Index fell by 1.4%, with oil prices dropping 11.3% over the year. Conversely, the Non-oil Import Index rose by 1.6%, thanks to higher prices in miscellaneous manufactured articles and machinery. The Export Price Index saw a more significant annual decrease of 4.3%, with oil prices plummeting 14.1% and non-oil exports slipping by 2.0%.

These fluctuations highlight the ongoing volatility in global commodity markets, particularly in the oil sector, which continues to impact Singapore’s trade dynamics. The data underscores the importance of monitoring price trends as they influence the cost of goods and economic stability.

The Singapore Manufactured Products Price Index and Domestic Supply Price Index both experienced significant growth in February 2026, rising by 3.0% and 3.1% respectively compared to January 2026. Excluding oil, the indices saw increases of 2.9% and 2.5%, according to data from the Department of Statistics, Ministry of Trade & Industry.

The rise in the Manufactured Products Price Index was primarily driven by higher prices in the Machinery & Transport Equipment and Chemicals & Chemical Products sectors. This increase reversed the previous month’s decline of 0.3%. The Oil index notably surged by 3.7%, contrasting with a 1.0% decrease in January.

Similarly, the Domestic Supply Price Index saw a 5.1% rise in the Oil index, following a 0.2% drop in the previous month. The Non-oil index’s growth was led by the Machinery & Transport Equipment sector, alongside increases in Chemicals & Chemical Products, Crude Materials, and Food & Live Animals.

Despite these month-on-month gains, both indices showed year-on-year declines. The Manufactured Products Price Index fell by 2.0% from February 2025, with the Oil index dropping 11.5%. The Domestic Supply Price Index decreased by 2.9% over the same period, with a similar 11.0% decline in the Oil index.

These indices are crucial for monitoring price changes in locally manufactured commodities and goods retained for domestic use, providing insights into economic trends and inflationary pressures in Singapore.

Lonza, a leading contract development and manufacturing organisation, has inaugurated a Media Development Lab at its Singapore site to enhance cell culture media optimisation and facilitate a seamless transition to Good Manufacturing Practice (GMP) manufacturing. This initiative addresses the increasing costs and risks associated with late-stage reformulation and scale-up in bioprocessing.

The lab offers a systematic approach to early media optimisation, considering scalability, raw material readiness, and GMP manufacturability. By employing Design of Experiments (DOE), the service evaluates multiple variables simultaneously to identify key performance drivers, thereby accelerating development timelines and reducing unnecessary iterations. This approach combines Lonza’s proprietary media and feed libraries with manufacturability insights to develop robust, scalable formulations early in the development process.

Michael Goetter, Head of Bioscience, Specialised Modalities at Lonza, stated, “We are committed to providing customers with the services they need to reduce early-stage risk and select media formulations that are effective at a laboratory scale and simultaneously practical and reliable in manufacturing.”

The lab’s services have been operational at Lonza’s Singapore site since March, offering bioprocessing customers improved performance and reduced risk, ensuring a smooth scale-up into manufacturing. This development is crucial as organisations face accelerated timelines and increased process complexity, necessitating structured media optimisation and alignment between development and manufacturing. The new lab is set to play a pivotal role in shaping formulation strategies and creating a natural pathway into non-GMP and GMP manufacturing.

Singapore’s industrial production (IP) in February fell by 7.2% month-on-month, seasonally adjusted, and recorded a year-on-year decline of 0.1%, according to UOB Global Economics and Markets Research. This performance was below the Bloomberg consensus and UOB’s own forecast of a 0.8% monthly decline and a 14.1% annual increase. The January figures were also revised downwards, showing a 2.0% monthly increase and a 12.9% annual rise, compared to previous estimates of 5.3% and 16.6%, respectively.

The February data revealed a broad-based weakness across most sectors. Among the six major sub-clusters, only the electronics sector showed growth, albeit at a reduced pace of 13.7% year-on-year, down from 34.0% in January. This growth was primarily driven by semiconductors, which maintained positive growth due to continued demand related to artificial intelligence, though the pace slowed to 14.6% from 39.7% in January. Other electronics segments, such as info-communications and consumer electronics, also contributed positively.

Conversely, sectors like precision engineering, transport engineering, chemicals, and general manufacturing experienced contractions. The most significant decline was observed in the biomedical sector, which fell by 27.3%, impacted by reduced output in pharmaceuticals and medical technology.

Despite these challenges, UOB maintains its 2026 GDP growth forecast for Singapore at 3.6%. However, the bank notes potential downside risks, particularly if geopolitical tensions involving the US, Israel, and Iran persist, potentially affecting Singapore’s manufacturing sector and related industries. This could lead to adverse effects on external demand and further strain Singapore’s export-driven economy.

The Urban Redevelopment Authority (URA) has announced the results of the government land sales (GLS) tender for the Dover Drive site, with a consortium led by Qingjian Realty securing the plot with a top bid of $951m. This translates to a land rate of $1,556 per square foot per plot ratio (psf ppr), marking the highest land price for a GLS residential site in the one-north area.

The Dover Drive site, located in the emerging Dover-Medway neighbourhood, attracted six bids. The top bid was 4% higher than the second-highest offer from a joint venture between Sunway MCL and CSC Land Group. Wong Siew Ying, Head of Research and Content at PropNex, noted that the close range of bids reflects a consensus among developers on the site’s potential and confidence in the area’s residential demand.

The site is expected to yield 625 new private homes and 3,550 sqm of commercial space, including 550 sqm dedicated to early childhood use. Its strategic location near the one-north MRT station and proximity to educational institutions and the Singapore Science Park make it attractive to families and investors alike.

Qingjian Realty and its partners have previously secured other plots in the area, indicating their commitment to strengthening their presence in one-north. The site’s appeal is further enhanced by the upcoming completion of the Circle Line, which will improve connectivity to the central business district.

Despite geopolitical uncertainties, developers are likely to focus on the site’s strong attributes and the area’s transformation plans. The potential average selling price for the project is estimated to be above $2,900 psf.

Singapore’s workforce and hiring systems are misaligned, according to Indeed’s Work at 60 Report. The study highlights that whilst workers are adapting to technological changes and longer careers, hiring practices remain outdated, focusing on rigid job titles and degree requirements. Workers prioritise salary, job security, and work-life balance, with 59% ranking these as top priorities. However, employers estimate these factors at only 29% and 27%, respectively.

“Workers are nearly twice as likely as employers think to prioritise salary, security and balance,” said Saumitra R Chand, Career Expert at Indeed. This misalignment risks narrowing the talent pool in a competitive labour market.

Entry-level roles are expected to face the most significant disruption, with 46% of workers and 44% of employers agreeing. Employers also report challenges in finding skilled candidates, with 30% citing this as their biggest issue and 52% finding Gen Z the hardest to attract or retain. Entry-level positions are vulnerable to automation, prompting younger workers to develop hybrid skills combining digital fluency with human strengths.

The report indicates a cultural shift towards lifelong learning and skills-first hiring, with 58% of employees emphasising these over traditional degrees. As Singapore celebrates 60 years of nationhood, the labour market is at a turning point. The future of work will depend on evolving hiring systems to align with worker priorities, shaping how talent is matched to opportunities in the coming decade.

Singaporean retail investors are increasingly concerned about international conflicts impacting their portfolios, according to a recent survey by trading platform eToro. Conducted between 12 and 27 February 2026, the survey found that 34% of Singaporean investors now view international conflict as the primary threat to their investments, up from 18% in the previous quarter. This shift in sentiment occurred before the recent escalation in the Middle East, highlighting a growing caution among investors.

The survey, which included 1,000 Singapore-based retail investors, also revealed a decline in confidence in the global economy, with only 35% expressing optimism this quarter, down from 43% in Q3 2025. This uncertainty is further reflected in their investment strategies, as only 38% plan to increase their portfolio contributions in the coming months.

A significant change in investor preference is also evident, with more Singaporean investors now favouring China over the US for long-term returns. For the first time since the survey began, 40% of respondents believe China’s stock market will deliver the strongest returns, surpassing the US at 39%. This marks a notable reversal from Q3 2025, when nearly half of the investors preferred the US.

Zavier Wong, Market Analyst at eToro, noted, “Recent geopolitical developments may be seen as a catalyst here, but it’s clear that Singaporean investors were already displaying heightened levels of caution coming into 2026.”

The generational divide is also apparent, with younger investors still leaning towards the US, whilst older investors are increasingly looking to China. Wong added, “If the policy uncertainty out of the US persists through the year, that gap in generational sentiment may start to close faster than the data currently suggests.”

Royal Healthcare, a prominent medical institution in Singapore, has begun offering the FonesVisuas Test developed by NEC Corporation. This innovative blood test predicts disease risk, addressing the global rise in lifestyle-related diseases and dementia, as highlighted by the World Health Organisation (WHO). The test aims to enhance proactive health management by identifying potential health risks early.

Located in Singapore’s medical hub, Novena, Royal Healthcare is known for its personalised and high-quality health screening services. The institution combines cutting-edge medical expertise with hospitality, catering to both local and international patients. The introduction of the FonesVisuas Test aligns with the Organisation for Economic Co-operation and Development’s (OECD) findings, which identify cancer and cardiovascular diseases as leading causes of mortality worldwide.

NEC Corporation, listed on the Tokyo Stock Exchange, has developed the FonesVisuas Test to meet the growing demand for advanced predictive diagnostics. The test is part of Royal Healthcare’s commitment to providing efficient and convenient medical experiences. A spokesperson from NEC stated, “The FonesVisuas Test represents a significant advancement in disease risk prediction, offering patients a proactive approach to their health.”

As the healthcare landscape evolves, the integration of such predictive diagnostics is expected to play a crucial role in managing global health challenges. Royal Healthcare’s adoption of the FonesVisuas Test marks a step forward in enhancing patient care and disease prevention strategies.

ScaleUp Bio, Singapore’s first and largest precision fermentation contract development and manufacturing organisation (CDMO), has announced that Fusionopolis Ventures, a subsidiary of Economic Development Innovations Singapore, will join ADM as a shareholder. This move is set to bolster ScaleUp Bio’s growth as a leading biomanufacturing platform in Asia, focusing on high-value bio-based speciality molecules across various sectors, including cosmetics, pharmaceuticals, and food.

The partnership aims to enhance ScaleUp Bio’s capabilities by leveraging its commercial pilot facility, operated jointly with A*STAR Singapore Institute of Food and Biotechnology Innovation, and its industrial base in Tuas. This integrated approach is designed to streamline the process from development to commercial production, addressing a critical infrastructure gap for companies needing high-quality fermentation capacity.

Philip Yeo, Chairman of EDIS, expressed confidence in the investment, stating, “This investment reflects our conviction in platforms that combine deep technical capability with disciplined scale-up execution.” He highlighted Singapore’s potential as a strategic launchpad for biomanufacturing, akin to its role in the biopharmaceutical sector.

Fabiana Bianchi, President of Asia-Pacific at ADM, noted the potential of precision fermentation to open new opportunities for producing bio-based ingredients efficiently. The fresh capital and strategic backing are expected to enhance ScaleUp Bio’s ability to serve its customers, reduce execution complexity, and accelerate timelines, positioning it as a key player in the growing biomanufacturing needs of Asia and beyond.