Industry News

Olam Group Limited has announced the closure of Jiva Ag, its digital farmer services platform, as part of its Updated 2025 Re-organisation Plan. The decision, revealed on 28 August 2025, will affect 606 employees across Singapore, Indonesia, India, and Australia. The move is intended to conserve cash and reduce debt within the Remaining Olam Group.

The closure aligns with Olam Group’s strategy to make its balance sheet debt-free and self-sustaining by responsibly divesting assets over time. The company cited challenging market conditions and the ongoing investment required to sustain Jiva Ag as key reasons for the closure. Affected employees will be offered redeployment opportunities within the Group or severance packages in accordance with local regulations, along with outplacement services and access to the Group’s employee assistance programme.

Financially, Olam Group reported a loss of S$13.2m in H1 2025 due to the impairment of intangible assets, primarily linked to Jiva Ag. The Group anticipates one-off costs of up to $9m related to the closure, which will be reflected in its H2 2025 financial results. These costs are not expected to significantly impact the Group’s overall financial performance for the year.

The intellectual property associated with Jiva Ag will remain with Olam Group or one of its subsidiaries. The Group remains committed to its re-organisation plan, aiming to strengthen its financial position and unlock shareholder value.
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Ever Glory United Holdings Limited, a Singapore-based mechanical and electrical engineering service provider, has successfully completed a placement of 31 million new ordinary shares, raising approximately $17.05m. The shares were issued at $0.55 each, representing a 7.72% discount to the volume weighted average price of $0.596 on the Singapore Exchange on 22 August 2025.

The placement attracted significant interest from institutional and accredited investors, including ICHAM Master Fund, Amova Asset Management, Lion Global Investors Limited, Ginko-AGT Global Growth Fund, Asdew Acquisitions Pte Ltd, and Azure Capital Pte Ltd. This strong participation reflects investor confidence in Ever Glory’s strategic direction and growth potential.

The funds raised will be used for general working capital and to partially pay for the acquisition of Guthrie Engineering (S) Pte. Ltd. Vincent Toe, co-founder of ICH Group, highlighted Ever Glory’s strong fundamentals and growth trajectory, particularly in relation to Singapore’s infrastructure projects. “Ever Glory fits this profile perfectly; it’s a fundamentally sound business with a clear growth trajectory,” he stated.

Xu Ruibing, Executive Director and CEO of Ever Glory, expressed gratitude for the investor support, noting the placement’s success as a testament to the company’s robust business model. “We see significant opportunities ahead, especially with our acquisition of Guthrie Engineering,” he said, emphasising the company’s strengthened position in the M&E engineering sector.

CGS International Securities Singapore Pte. Ltd. acted as the sole placement agent for the transaction.
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Moody’s Ratings has assigned a definitive Aaa long-term rating to Standard Chartered Bank (Singapore) Limited’s Series 3 mortgage covered bonds. The bonds, valued at €500m , are part of the bank’s $5b Global Covered Bond Programme and are due in 2029. This top-tier rating reflects the bank’s strong credit profile and the robust legal framework supporting the bonds.

The Series 3 mortgage covered bonds are backed by Singaporean residential mortgage loans, with a collateral score of 4. The bonds benefit from the issuer’s commitment to pay interest and principal, and in the event of a counterparty risk assessment (CB anchor) event, the economic benefit of a collateral pool. Moody’s noted that the stressed level of losses on the cover pool assets is 1.67%, with market risk accounting for 1.40% and collateral risk for 0.27%.

The legal framework includes a 12-month maturity extension to mitigate refinancing risk, and the overcollateralisation (OC) in the cover pool stands at 7.75%, with the issuer providing 1.62% on a committed basis. The timely payment indicator (TPI) for this transaction is rated as “Probable,” ensuring the likelihood of timely payments to bondholders.

Moody’s uses a two-step process for rating covered bonds, involving expected loss analysis and a TPI framework. The current TPI allows for a three-notch downgrade of the CB anchor before affecting the bond’s rating. Factors such as a downgrade of the CB anchor or a reduction in the cover pool’s value could lead to a downgrade of the bonds.
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Reclaims Global Limited has announced that its board of directors is contemplating a potential transaction involving the company’s shares. However, the company cautions that there is no certainty that any definitive transaction will occur. Currently, Reclaims Global is in a restricted dealing period, known as the “Black-out Period,” as it prepares to finalise its unaudited financial results for the half year ending 31 July 2025, which are expected to be announced around 9 September 2025.

The company has stated that any potential transaction will only be fully considered after the Black-out Period concludes. Reclaims Global has assured that it will adhere to the rules of the Singapore Exchange Securities Trading Limited (SGX-ST) Listing Manual Section B: Rules of Catalist and will make an announcement at the appropriate time.

Shareholders are advised to exercise caution when dealing with the company’s shares until a definitive announcement is made. In case of uncertainty, shareholders are encouraged to consult their stockbrokers, bank managers, solicitors, accountants, or other professional advisers.

The board of directors, including those overseeing the announcement’s preparation, have taken all reasonable care to ensure the accuracy of the facts and opinions expressed. They accept responsibility for the announcement’s content, ensuring no material facts have been omitted. The announcement has been reviewed by the company’s sponsor, SAC Capital Private Limited, but not examined or approved by SGX-ST.
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The GovWare Conference and Exhibition 2025 is set to take place from 21 to 23 October at the Sands Expo and Convention Centre in Singapore. This year, the event celebrates its 10th anniversary in partnership with the Singapore International Cyber Week (SICW), organised by the Cyber Security Agency of Singapore (CSA). With over 13,000 global cybersecurity stakeholders expected, the conference will address the evolving cybersecurity landscape shaped by artificial intelligence (AI) and rapid digitalisation.

Themed “Cyberspace: Of Starbursts, Black Holes, and Last Frontiers,” GovWare 2025 will delve into the acceleration of digital transformation through AI, the hidden vulnerabilities in complex systems, and the shifting boundaries of cyber risk and trust. Ian Monteiro, Executive Director of Image Engine, emphasised the event’s focus on trust, accountability, and strategic foresight, stating, “GovWare is where critical conversations on cybersecurity leadership, regulation, and AI governance are redefined.”

As AI continues to unlock new possibilities, it also expands the threat surface across enterprises and societies. The conference aims to shift the focus from reactive compliance to proactive resilience, highlighting the need for executive leadership and cross-sector collaboration. Yock Hau Dan, Assistant Chief Executive of CSA, noted the importance of international cooperation to address the challenges posed by AI and geopolitical tensions.

GovWare 2025 will feature keynotes, panels, and showcases, providing a platform for dialogue and innovation at the intersection of technology, governance, and leadership. Registration is now open for those interested in attending.
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Grand Prix Season Singapore (GPSS) is set to return from 26 September to 5 October 2025, offering a range of race-themed lifestyle experiences across the city. This year’s event, which complements the Formula 1 Singapore Airlines Singapore Grand Prix 2025, will feature 16 new programme partners, including local brands like New Bahru and Love Bonito, as well as international names such as Moët & Chandon, Adidas, and Glenfiddich.

The festivities will be spread across various locations, with highlights including Jam Off at Sentosa, featuring performances by Asian stars Rain, Ekin Cheng, and Hins Cheung. The Marina Central district will host the GrooveDriver Festival, showcasing international and local artists, whilst Clarke Quay will present Hit the Apex, a live music showcase with 40 artists from 17 countries.

Lilian Chee, Director of Sports at the Singapore Tourism Board, expressed pride in the diverse line-up of partners, stating, “We are proud to feature more Singapore establishments bringing refreshing additions to the programme, joining premier live entertainment performances and unique race-inspired dining and retail offerings.”

New partners like Moët & Chandon will host the Elevation Lounge at Bayfront, offering hot air balloon rides and exclusive events. Adidas will collaborate with the Mercedes-AMG PETRONAS Formula One Team, whilst Glenfiddich partners with Aston Martin Formula One for a unique pop-up at Changi Airport.

Returning partners include LEGO, showcasing a life-sized race car, and TAG Heuer, celebrating its motorsport heritage. The event promises to reinforce Singapore’s status as a leading lifestyle destination, offering memorable experiences for both visitors and locals.
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RushOwl, a Singapore-based ride-sharing platform, has successfully raised $10m in Series A funding to scale its dynamic ride-sharing services. The funding round was led by Gobi Partners, a pan-Asian venture capital firm, with participation from the Hong Kong Investment Corporation Limited (HKIC). The investment aims to support RushOwl’s expansion into new markets, including the Philippines, South Korea, and Malaysia.

Founded in 2018 by Shin Ng, Songyan Ho, and Kris Lee, RushOwl has developed a proprietary AI-based technology, RushOS, which optimises fleet utilisation and integrates with autonomous vehicles. The platform currently operates in Singapore, India, and Hong Kong, managing over 4,000 trips daily and serving 250,000 users. RushOwl’s technology has enabled a 50% reduction in carbon emissions and a 30% decrease in commute times compared to traditional public transport.

The company plans to use the new funding to expand its market presence and establish a research and development centre in Malaysia. Additionally, RushOwl aims to grow its B2B sales team and secure partnerships with fleet operators to licence its RushOS technology. Key partners already include Asia Pacific Breweries, CBRE, and Singapore’s Ministry of Education.

Clara Chan, CEO of HKIC, highlighted the investment’s alignment with Hong Kong’s future economic growth drivers, stating, “Our investment in RushOwl embodies this approach—supporting a company whose smart mobility solutions address urban and sustainability challenges.” Chibo Tang, Managing Partner of Gobi Partners, added, “RushOwl addresses urban challenges such as congestion and excess emissions whilst preparing for the future by developing technologies compatible with autonomous vehicles.”

RushOwl’s innovative approach to bridging the gap between private and public transportation positions it as a key player in the smart mobility sector across Asia.
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BDx Data Centres, a prominent data centre operator in Asia, has partnered with HEXA Renewables, a leader in renewable energy, to deliver 50 megawatts (MW) of clean power to the Singapore-Malaysia energy grid. This strategic collaboration, announced on 3 September 2025, seeks to address the challenges of sourcing renewable energy in Singapore by developing new green energy projects in Malaysia.

The partnership introduces an innovative decarbonisation model for the region, aligning with Singapore’s projected addition of at least 300 MW of new data centre capacity. BDx, which operates Indonesia’s first Sovereign AI data centre campus powered by renewable energy, aims to set a new standard for cross-border collaboration in digital infrastructure. “Performance and environmental responsibility are not mutually exclusive,” said Mayank Srivastava, CEO of BDx Data Centres.

Vince Choi, CEO of HEXA Renewables, highlighted the importance of the partnership in supporting national sustainability goals and accelerating the energy transition. As part of its broader sustainability strategy, BDx plans to deploy 1 gigawatt (GW) of capacity across the region, reinforcing its commitment to environmentally responsible data centre growth.

HEXA Renewables, an independent energy producer, aims to develop up to 5 GW of renewable energy projects in the Asia Pacific region, with an investment target of $5b. This collaboration marks a significant step in supporting Singapore’s Green Plan 2030 and showcases the potential of regional cooperation in advancing sustainable energy solutions.
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MyRepublic has launched the AI Automation Box, a pioneering plug-and-play AI server designed to help small and medium-sized enterprises (SMEs) automate their business processes swiftly and economically. This innovative solution allows businesses to implement AI-driven workflows without the need for dedicated engineering teams or external consultants.

The AI Automation Box is tailored for organisations with 20 to 200 employees, offering a self-contained automation engine that simplifies operations and automates manual tasks. Lawrence Chan, Managing Director and Chief AI Officer at MyRepublic, described it as “like having your own private AI lab,” enabling businesses to automate processes akin to Fortune 500 companies.

Equipped with a no-code/low-code workflow builder and the option for custom coding, the AI Automation Box allows for easy design and deployment of automations. It features self-hosted large language models from providers such as OpenAI, Meta, and DeepSeek, supported by enterprise-grade GPU hardware for high-performance execution.

To facilitate adoption, the solution includes over 100 ready-to-use templates, tutorials, and access to the MyRepublic AI Academy. It also offers a spreadsheet-like no-code database for building and managing data-driven applications. Aimed at business owners, operations managers, and lean IT teams, the AI Automation Box supports applications in customer service, reporting, invoicing, and human resources.

Starting at $255 per month, the AI Automation Box provides an integrated on-premise solution, eliminating the need for cloud subscriptions or extensive technical training. Imran Nazi, Head of ICT, stated, “The AI Automation Box is not just a product. It’s a movement to make automation a standard tool for every business.”
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Researchers from the Singapore-MIT Alliance for Research and Technology (SMART) have developed the world’s first automated RNA analysis tool, a significant advancement in the study of cancer and infectious diseases. This innovative tool, created by SMART’s Antimicrobial Resistance interdisciplinary research group, in collaboration with several universities, allows for rapid and large-scale scanning of RNA chemical changes, which are crucial for understanding how cells respond to stress, infection, and disease.

The tool addresses the limitations of traditional RNA analysis methods, which are often slow, costly, and hazardous. By automating the profiling of transfer ribonucleic acid (tRNA) modifications, the tool provides a comprehensive view of the epitranscriptome, enabling scientists to identify disease markers and develop targeted therapies. This advancement is particularly timely, given the rising incidence of cancer and antibiotic-resistant infections globally.

The research, published in the journal Nucleic Acids Research, has already led to the discovery of previously unknown RNA-modifying enzymes and the mapping of gene networks that control cellular adaptation to stress. Using robotic liquid handlers, the team analysed over 5,700 strains of Pseudomonas aeruginosa, revealing new insights into bacterial survival mechanisms.

Professor Peter Dedon, Co-lead Principal Investigator at SMART AMR, highlighted the tool’s potential: “This pioneering tool marks a transformative advance in decoding the complex language of RNA modifications that regulate cellular responses.”

Looking ahead, SMART plans to expand the tool’s capabilities to human cells, aiming to integrate it into clinical research for more effective and personalised treatments. This development is supported by the National Research Foundation Singapore under its CREATE programme.
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