Industry News

Grand Venture Technology Limited (GVT) has been recognised at the Singapore Corporate Awards 2025, clinching the prestigious titles of Best Chief Executive Officer and Best Chief Financial Officer. The awards highlight the exemplary leadership and financial stewardship within the company, underscoring its commitment to excellence in corporate governance.

The accolades were awarded to GVT’s leadership team for their outstanding contributions to the company’s growth and strategic direction. The Singapore Corporate Awards are renowned for celebrating the achievements of corporate leaders who demonstrate exceptional management and financial acumen.

The recognition of GVT’s CEO and CFO reflects the company’s robust performance and strategic initiatives that have positioned it as a leader in its industry. The awards serve as a testament to the effective leadership and financial strategies that have driven GVT’s success.

As GVT continues to expand its footprint, these awards reinforce the company’s reputation for strong leadership and financial management. The recognition is expected to bolster investor confidence and enhance the company’s standing in the competitive corporate landscape.

Looking ahead, GVT aims to leverage this recognition to further its strategic objectives and continue delivering value to its stakeholders. The awards not only celebrate past achievements but also set a benchmark for future endeavours in corporate excellence.
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WTW, a global advisory and broking firm, has announced significant leadership changes within its Health & Benefits division in Southeast Asia, effective 2 September 2025. Fong Han Wei has been appointed as Head of Health & Benefits in Singapore, bringing extensive experience from his previous role at a leading international broker. Han Wei’s expertise includes strategic consulting and benefits advisory, which he will leverage to deliver innovative solutions to organisations in Singapore.

Eva Liu, previously Head of Strategic Development for Health & Benefits in Asia Pacific, will now also oversee WTW’s Health & Benefits operations across Southeast Asia, excluding Singapore. With over 20 years of experience in client management and consultancy, Liu aims to accelerate growth and enhance WTW’s value proposition in the region.

In Malaysia, Lim Choo Ho has been named Head of Health & Benefits. With 25 years of industry experience, Choo Ho will focus on business development and benefits advisory, driving growth in insurance broking and flexible benefits.

Royston Tan, Head of Health & Benefits, Asia Pacific at WTW, expressed enthusiasm for the appointments, stating, “We are thrilled to welcome Han Wei to WTW and to see both Eva and Choo Ho take on expanded leadership roles. Their combined expertise and leadership will be instrumental in driving our Health & Benefits business forward in Singapore and across Southeast Asia.”

These strategic appointments underscore WTW’s commitment to strengthening its leadership and expanding its influence in the Southeast Asian market.
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Experian, a global leader in data and analytics, has teamed up with the Singapore FinTech Association (SFA) to launch an accelerator programme aimed at boosting FinTech innovation across Southeast Asia. The initiative, set to commence on 8 September 2025, will focus on identifying and supporting high-potential FinTech companies that offer solutions in eKYC, digital onboarding, alternative data scoring, and open banking.

The programme is designed to leverage Experian’s extensive client network and SFA’s influential presence within the FinTech ecosystem. It aims to provide a growth platform for FinTechs to scale across the region, enhancing financial inclusion and smarter decision-making in emerging markets. Applications for the programme will open in September, with shortlisted partners announced in October. The programme will conclude with a results announcement in April 2026.

Kabir Khanna, General Manager of Experian Credit Services Singapore, highlighted the partnership’s significance: “This partnership with SFA is more than just a collaboration—it’s a commitment to nurturing the next wave of FinTech innovation in Southeast Asia.” Holly Fang, President of the SFA, added, “This initiative reflects our shared belief in the power of ecosystem collaboration to drive innovation and impact.”

Eligible applicants must be international FinTechs with a presence in Singapore and demonstrate a proven product-market fit. The selected partners will benefit from commercial collaboration opportunities, revenue growth, and enhanced brand visibility through joint marketing efforts.

The collaboration between Experian and SFA marks a significant step in transforming the financial services landscape in Southeast Asia, providing a launchpad for FinTechs to gain visibility and build lasting partnerships.
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Billard Leece Partnership (BLP), a prominent architectural practice from Australia, has announced the launch of BLP Asia, marking its expansion into the Asian market with a new office in Singapore. Known globally for its innovative work in healthcare, life science, and social architecture, BLP aims to bring its expertise to the region, enhancing its presence and influence in the architectural landscape.

The decision to establish a base in Singapore reflects BLP’s strategic vision to tap into the burgeoning Asian market, which is witnessing rapid growth and development in various sectors. This move is expected to bolster BLP’s ability to deliver cutting-edge architectural solutions tailored to the unique needs of the Asian clientele.

Tara Veldman, Managing Director, and Dev Bagga, Principal and Asia Lead, are set to spearhead the operations in Singapore. Their leadership is anticipated to drive BLP’s mission of integrating innovative design with functionality, particularly in the healthcare and life sciences sectors, which are pivotal to the firm’s portfolio.

The establishment of BLP Asia is a significant step in the firm’s global expansion strategy, promising to bring a fresh perspective to architectural practices in the region. With Singapore as a strategic hub, BLP is well-positioned to influence the architectural scene across Asia, fostering collaborations and delivering projects that resonate with the region’s dynamic growth.

As BLP Asia begins its journey, the firm is poised to contribute significantly to the architectural innovation and development in Asia, aligning with the region’s aspirations for sustainable and forward-thinking infrastructure.
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Singaporean lithium-ion battery manufacturer, Durapower Holdings, has announced significant leadership changes to spearhead its next phase of growth and innovation. Alok Verma has been appointed as the new Group Chief Executive Officer, whilst James Rama Phataminviphas steps into the role of Executive Chairman, and Kelvin Lim transitions to Group President.

These changes are part of Durapower’s strategic succession planning, designed to ensure leadership continuity and introduce fresh perspectives. The company aims to meet the increasing global demand for e-mobility, stationary energy storage, and renewable energy solutions. With over 15 years of experience in automotive and clean energy innovation, Durapower has powered vehicles for over one billion electric kilometres and maintains a presence in 25 countries.

Verma brings over 20 years of experience in energy, manufacturing, and technology sectors. His previous roles include Global Vice President at BanpuNEXT, where he developed a 1.5 GW battery energy storage strategy, and senior leadership positions at Jinko Solar Australia and Honeywell International. He holds an MBA from the Indian Institute of Management, Bangalore, and a Chemical Engineering degree from the Indian Institute of Technology, Delhi.

Phataminviphas expressed confidence in Verma’s leadership, stating, “Alok is a proven leader with deep expertise in energy storage and is skilled at uniting teams around a bold vision.” Verma, in turn, emphasised his focus on operational excellence and technological innovation, aiming to build strong relationships with customers and partners.

As Group President, Lim will focus on strengthening customer and partner relationships and supporting strategic market development. Under his leadership as Group CEO, Durapower transformed from a single-market start-up into a globally recognised brand.

Durapower’s leadership transition underscores its commitment to quality, safety, and sustainability, reinforcing its role as a trusted partner in powering transport, infrastructure, and communities worldwide.
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S64, a global fintech and solutions partner for the wealth management industry, has appointed Hui Xin Tay to its Asia Distribution team. Based in Singapore, Hui Xin will focus on strengthening S64’s connections with leading private banks, wealth managers, and asset managers across Asia. Her role is pivotal in advancing S64’s innovative product manufacturing and technology solutions within the Asia-Pacific private wealth ecosystem.

Hui Xin brings a decade of experience in delivering complex financial solutions to the Asia private wealth channel. She previously held the position of Executive Director at Goldman Sachs in their Global Markets Business and has also worked at Leonteq, specialising in cross-asset structured solutions for private wealth intermediaries.

S64 is renowned for its semi-liquid evergreen private markets funds and is trusted by leading general partners, asset managers, and private banks in Europe, the Middle East, Africa, and Asia-Pacific. The company is at the forefront of innovation in private markets, offering solutions such as ELTIFs, LTAFs, and securitised solutions.

CEO of S64, Tarun Nagpal, expressed enthusiasm about Hui Xin’s appointment, stating, “Her arrival marks a significant step in our strategy to deepen partnerships with the region’s premier private banks and asset managers.” Thomas Hu, Head of Asia Pacific Distribution, added, “Her appointment reinforces our commitment to Asia Pacific as a strategic growth region.”

Hui Xin Tay commented on her new role, saying, “I am delighted to join S64 at such an exciting time for the private wealth industry in Asia.” Her appointment is expected to further solidify S64’s position as a market leader in private markets technology and solutions across Europe and Asia-Pacific.
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Thai Beverage, a leading player in the beverage industry, is maintaining its “BUY” recommendation with a target price of SGD0.65, despite anticipating slightly softer growth. The company, which has a strong presence in Thailand and Vietnam, expects its beer business to recover as demand picks up in these markets. This recovery is bolstered by increased sales points and tourism-led consumption, which are expected to drive long-term growth.

The company is currently trading at an attractive valuation of approximately 10 times its forecasted price-to-earnings ratio for the fiscal year 2026, which is significantly below its historical average of around 18 times. This valuation presents a potential upside of 40% and a forecasted yield of about 6% for the fiscal year ending September 2026.

Alfie Yeo, an analyst, highlighted the company’s robust market position and the expected continuation of its growth momentum. “We stay positive on Thai Beverage due to its strong market leadership in Thailand and Vietnam,” Yeo stated, emphasising the company’s strategic advantages.

In other news, ST Engineering has announced the divestment of its non-core stake in CityCabs, reaffirming its “BUY” status with a target price of SGD9.10. Analyst Shekhar Jaiswal noted that this move aligns with the company’s strategy to focus on core operations and enhance shareholder value.

These developments underscore the dynamic nature of the beverage and engineering sectors, with companies like Thai Beverage and ST Engineering adapting to market conditions to sustain growth and profitability. As these industries evolve, investors are advised to monitor these companies’ strategic decisions closely.
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Gavin Chia has been appointed as the Chief Executive Officer of IG Singapore & Emerging Markets, effective 1 September 2025, pending regulatory approval. This strategic move by IG Group Holdings aims to bolster its product offerings across Asia, tapping into the region’s burgeoning financial markets. Chia, who previously served as the CEO and founding employee of Moomoo Singapore, transformed it into one of the nation’s leading brokerages within four years.

Chia’s appointment is seen as a pivotal step for IG, as he is renowned for his ability to rapidly scale businesses and establish strategic partnerships with regulators and industry partners. “Singapore is a hub for increasingly sophisticated investors, and IG is well-placed to serve mobile-first clients looking for greater choice and deeper market access,” Chia stated. He emphasised the potential in emerging markets, where many individuals are accessing financial markets for the first time.

Matt Macklin, Managing Director of IG Asia Pacific & Middle East, expressed confidence in Chia’s leadership, highlighting his expertise in regulatory engagement and innovative marketing. “Gavin’s track record makes him the ideal leader to take IG Singapore and our emerging markets business to the next level,” Macklin said.

Chia’s extensive career includes senior roles at UOB Kay Hian, Haitong International, and PhilipCapital. He holds a Master of Science in Business Analytics from the National University of Singapore and a Bachelor of Engineering (Hons) in Aeronautical Engineering from Nanyang Technological University. As IG Group continues its expansion, Chia’s leadership is expected to drive significant growth and innovation in the region.
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Cata has unveiled a pioneering Software-as-a-Service (SaaS) platform designed to revolutionise the food and beverage (F&B) and retail sectors in Singapore and beyond. This innovative white-label app platform enables businesses, from small outlets to global chains, to launch their own branded mobile apps for ordering, marketing, loyalty programmes, and customer relationship management (CRM) without any upfront investment.

The platform has already been implemented by Guzman y Gomez (GYG), a fast-growing quick-service restaurant chain, across its 21 locations in Singapore. Cata’s approach allows businesses to bypass the costly and complex tech stacks typically required for sophisticated apps. “Cata was the only solution that works as a true one-stop platform,” said Josh Bell, Principal at Guzman y Gomez Singapore.

The restaurant and retail industries are at a critical juncture, with many businesses still relying on outdated systems. Cata’s platform addresses this by offering advanced digital solutions previously exclusive to giants like McDonald’s and Starbucks. This democratisation of technology is expected to generate a return on investment of up to 5-10 times for partners, through enhanced customer acquisition and retention, increased purchasing frequency, and optimised business operations.

Cata’s founder and CEO, David Brunier, highlighted the transformative potential of the platform, stating, “Offline retail is at a tipping point. The next generation of physical businesses won’t rely on POS, self-checkout terminals, or cashiers—they’ll run on mobile apps.”

With plans for aggressive expansion into Asia Pacific, Europe, and the Middle East, Cata aims to extend its reach into other sectors such as wellness, beauty, and fashion. Founded in 2024 and headquartered in Singapore, Cata is backed by prominent investors and is poised to become a key player in the digital transformation of offline businesses.
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AirBooking.com, a next-generation travel retailing platform, has been certified by Singapore Airlines as a direct New Distribution Capability (NDC) Technology and Content Partner. This certification, announced on 29 August 2025, marks a significant step in enabling API-driven distribution, offering travel agents and corporates more choice, control, and efficiency in airline retailing.

Through the KrisConnect programme, Singapore Airlines’ strategic initiative, AirBooking.com users gain real-time access to a comprehensive range of offerings, including branded fares, ancillaries, and negotiated corporate rates. The integration streamlines the booking experience, allowing users to manage post-booking changes independently within a single API-connected platform. Additionally, KrisFlyer loyalty integration ensures customers receive customised and targeted offers.

Charlene Wee, General Manager Distribution at Singapore Airlines, stated, “Our collaboration with AirBooking.com aligns with SIA’s commitment to innovation and service excellence. By working with NDC-native partners like AirBooking.com, we ensure that our travel agency and corporate partners can access richer content, dynamic fares, and tailored ancillaries—all whilst enhancing efficiency and customer satisfaction.”

AirBooking.com, built on IATA’s NDC 21.3 and ONE Order standards, provides seamless access to real-time fares and rich content from over 14 global airlines. The platform supports complete post-booking services and offers AI-powered tools for fare and policy optimisation, making booking workflows up to 40% faster. Enhanced revenue potential is also available through improved commission structures on NDC bookings.

George Rajan, Chief Experience Officer of AirBooking.com, expressed, “We are honoured to be certified by Singapore Airlines—an industry leader in passenger experience and digital transformation. Our joint vision is to replace outdated distribution models with real-time, intelligent, and secure retailing that mirrors e-commerce best practices.”
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