Industry News

SIA Engineering Company Limited (SIAEC) has announced that its wholly-owned subsidiary, SIAEC Global Private Limited, has successfully acquired a 30% stake in Arport Aircraft Maintenance & Engineering (Fujian) Co., Ltd. (Arport AME) for RMB129m. This acquisition was achieved through a public tender administered by the Xiamen Equity Exchange Centre.

The investment will lead to the formation of a joint venture (JV) with Arport AME’s direct shareholders. The JV is set to provide maintenance, repair, and overhaul services, including line maintenance and ground services at airports in Xiamen, Fuzhou, Wuyishan, and Longyan, as well as base maintenance services at Xiamen airport.

SIAEC, a major provider of aircraft maintenance, repair, and overhaul services in the Asia-Pacific region, has a client base of over 80 international carriers and aerospace equipment manufacturers. The company operates in more than 30 airports across nine countries and holds approvals from 27 national aviation regulatory authorities.

The transaction is not expected to significantly impact SIAEC’s net tangible assets per share or earnings per share for the financial year ending 31 March 2026. Additionally, none of SIAEC’s directors or controlling shareholders have any direct or indirect interest in the transaction, aside from their shareholdings in the company.

This strategic move aligns with SIAEC’s ongoing efforts to expand its service offerings and strengthen its presence in the aviation maintenance sector.

CBRE has announced the sale of a portfolio of five retail assets in Singapore, comprising two HDB coffeeshops, one HDB shophouse, and two strata retail units. The sale, conducted through an Expression of Interest exercise, will close on 15 April 2026. These properties are strategically located in high-density areas such as Tanjong Pagar, Orchard, Jurong East, and Marine Parade, ensuring high footfall and commercial activity.

The portfolio includes two HDB coffeeshops and a shophouse, which are highly sought after due to their scarcity and potential for rental premiums. The remaining strata-titled retail units are situated in The Centrepoint and Parkway Parade, two of Singapore’s iconic shopping destinations. The guide price for the entire portfolio is approximately S$30.92m, with options for collective or individual acquisition.

Clemence Lee, Executive Director of Capital Markets at CBRE, highlighted the rarity of such assets, noting, “HDB coffeeshops remain one of Singapore’s most exclusive asset classes.” With only 402 privately-held HDB shophouses approved for coffeeshop use, this sale presents a unique investment opportunity. Lee anticipates strong interest from a diverse range of investors, including owner-occupiers, real estate funds, and high net worth individuals. The portfolio offers potential for individual sales as an exit strategy, appealing to investors seeking lower investment quantum.

Prudential Singapore has launched PRUActive Life V, a comprehensive protection plan designed to help families manage financial challenges during health gap years. This period occurs when individuals diagnosed with critical illnesses, such as cancer or heart disease, take time off work to focus on recovery. The plan offers extensive coverage for 182 conditions, including mental and juvenile illnesses, and aims to address the 74% protection gap identified by the Life Insurance Association of Singapore.

PRUActive Life V provides whole life coverage for death, terminal illness, total and permanent disability, and critical illnesses. Key features include a Multiplier Benefit, which allows policyholders to enhance their coverage up to five times until age 80, and a Kinship Booster, offering a 10% increase in basic coverage when an immediate family member also takes up the plan. Additionally, the plan includes an income payout option from age 60 and a Family Waiver Benefit, which waives up to 12 months of premiums if a spouse or child passes away.

Toni Fung, Chief Customer and Marketing Officer at Prudential Singapore, emphasised the importance of critical illness coverage, stating, “Families should consider critical illness protection early to ensure they have a safety net in place and the peace of mind to focus on recovery during their health gap years.”

The introduction of PRUActive Life V highlights Prudential’s commitment to providing financial resilience for families facing the hidden costs of critical illness recovery, such as caregiving support and home modifications. This initiative aims to offer a robust safety net, ensuring families can focus on recovery without financial strain.

Yangzijiang Shipbuilding (Holdings) Ltd. has announced its acquisition of a 10% equity interest in Poseidon Corp. through agreements with affiliates of Fairfax Financial Holdings and the Washington Family. The acquisition, valued at $825.7m, is part of a broader transaction involving the sale of up to 34% equity interest in Poseidon. This strategic move aims to bolster Yangzijiang’s relationship with Seaspan Corporation, a key customer, and enhance its market intelligence and production planning.

Poseidon Corp., a Marshall Islands-based holding company, owns Seaspan Corporation Pte. Ltd., which operates containerships on long-term charters. The acquisition will allow Yangzijiang to integrate more closely with its supply chain and improve its responsiveness to market demands. The investment is also seen as a strategic deployment of surplus funds, offering stable returns.

The consideration for the acquisition was determined based on several factors, including Poseidon’s financial performance and strategic value. Despite the price exceeding the valuation range provided by independent adviser Kroll, Yangzijiang’s board believes the long-term benefits justify the investment. The acquisition is subject to customary conditions, including regulatory approvals and the execution of a shareholders agreement granting Yangzijiang a board seat and minority protections. Completion is expected following the satisfaction of these conditions.

ComfortDelGro Corporation Limited has announced a significant investment of over S$200m to transform driving education in Singapore. Through its subsidiary, ComfortDelGro Driving Centre, the company will develop a Next-Generation Driving Centre (NGDC) at Lorong Bistari, Choa Chu Kang, over the next 30 years. This initiative aims to modernise driver training and address the decline in private driving instructors.

The NGDC will feature advanced Intelligent Driving Circuit technologies, including sensors, cameras, and AI-driven assessments, to facilitate more independent and objective training. This technology will reduce reliance on instructors and support a shift towards instructor-less training environments. The centre will replace the Bukit Batok Driving Centre by 2030 and will be a flagship multi-storey facility in western Singapore, significantly expanding training capacity.

Key features of the NGDC include nursery circuits, dedicated heavy vehicle training, simulators, classrooms, and a road safety gallery. These enhancements are expected to improve training quality and operational efficiency, potentially doubling ComfortDelGro Driving Centre’s market share in Singapore. Vincent Tan, CEO of ComfortDelGro Driving Centre, stated, “The Next-Generation Driving Centre will deliver high-quality, technology-enabled training that benefits learners through more efficient and objective assessments.”

The investment underscores ComfortDelGro’s commitment to Singapore’s transport needs and its leadership in the sector. Managing Director and Group CEO Cheng Siak Kian emphasised the importance of this long-term investment in increasing the number of drivers within the transportation ecosystem. Operations at the new centre will commence in phases, ensuring continuity for learners.

The Singapore University of Social Sciences (SUSS) has expanded its presence in China with the launch of the SUSS Success Academy in Chongqing, in partnership with Raffles Young Academy (RYA) Pte Ltd. This initiative, announced on 10 March 2026, also includes the establishment of a satellite office in Shenyang, enhancing SUSS’s engagement across Western and Northeast China.

The launch event, held at the CCI Gallery, was attended by nearly 70 guests, including representatives from educational institutions and industry partners from both China and Singapore. The ceremony was presided over by Mavis Tan, Vice-Consul Political at the Consulate-General of the Republic of Singapore in Chengdu, and Li Xunfu, Deputy Director of the Chongqing Municipal Commission of Commerce.

The Success Academy aims to connect academic and industry partners from Singapore and China, focusing on lifelong learning and social impact. It will offer interdisciplinary global learning courses, impact start-up programmes, and student exchanges, providing students with regional exposure through internships and workplace learning opportunities. The academy will also collaborate with Chinese universities and organisations to design industry-relevant courses.

In addition to the Chongqing academy, SUSS will open a satellite office in Shenyang on 11 March 2026, supporting initiatives in Liaoning Province. This expansion includes signing three Memoranda of Understanding with local organisations, such as the Shenyang University of Chemical Technology, to foster cross-border knowledge exchange and curriculum innovation.

Professor Tan Tai Yong, President of SUSS, emphasised the importance of China as a partner in expanding opportunities for students and strengthening collaboration across Asia. Samuel Ng, Executive Chairman of RYA, highlighted Chongqing’s strategic position as a gateway to Western China, making it an ideal location for immersive, industry-linked education.

The Success Academy in Chongqing is part of SUSS’s broader expansion across Asia, with previous academies established in cities such as Beijing, Shenzhen, Ho Chi Minh City, and Mumbai.

Yi Yun Movers, a Singapore-based moving company, is revamping its operations to stay competitive as the moving industry evolves. With the sector valued at $59.48b in 2024 and projected to reach $100.16b by 2033, the company is focusing on operational efficiency, safety, and coordination to meet rising customer expectations.

As customers demand clearer quotations, faster responses, and careful handling of belongings, Yi Yun Movers is prioritising safe handling, flexible scheduling, and end-to-end service coordination. “Meeting these expectations requires tighter planning and consistent execution,” said Liang, Sales Manager of Yi Yun Movers.

The company is also integrating technology to enhance operations. GPS software is being used for route planning and fleet management, providing real-time traffic data, calculating efficient routes, and tracking vehicles. This ensures faster service delivery and improves customer communication.

Whilst large-scale automation is not yet feasible for many small and medium enterprises (SMEs), incremental adoption of digital tools is seen as essential. Yi Yun Movers is exploring AI-assisted Customer Relationship Management (CRM) to automate customer interactions and personalise communication.

As Singapore’s moving and storage sector continues to grow, Yi Yun Movers aims to refine its processes and maintain service standards. By focusing on operational discipline and adaptability, the company is positioning itself to effectively address the evolving needs of the market.

Singapore has been ranked first globally in the DHL Global Connectedness Report 2026, underscoring its exceptional depth in trade and capital flows. Despite geopolitical tensions and rising US tariffs, globalisation remains robust, with the Asia Pacific region strengthening its position as a global trade anchor. The report, produced with New York University’s Stern School of Business, highlights Singapore’s leading role in international trade and investment.

The Asia Pacific region, including Southeast Asia, Northeast Asia, and Oceania, has shown significant gains in global connectedness. East Asia and the Pacific’s share of world trade increased from 24% in 2001 to 32% in 2025. Notable advancements in the global connectedness ranking include Malaysia, Thailand, Korea, Taiwan, and Vietnam.

Ken Lee, CEO of DHL Express Asia Pacific, remarked, “Asia Pacific continues to demonstrate extraordinary resilience and adaptability.” He emphasised the region’s deepening global ties and the importance of supporting businesses to diversify their markets.

The report also notes a surge in trade of AI-related goods, which accounted for 42% of goods trade growth in the first three quarters of 2025. Countries like Taiwan, Korea, Singapore, and Malaysia are benefiting from increased demand for AI infrastructure.

Looking forward, global goods trade is expected to grow by an average of 2.6% annually through 2029, despite recent US tariff hikes. The report concludes that Asia Pacific remains pivotal in sustaining global connectivity, with people flows reaching new highs and capital flows remaining resilient.

Seatrium Limited has been awarded its eighth Floating Storage Regasification Unit (FSRU) conversion contract by Karpowership, marking a significant milestone in their longstanding partnership. The project, scheduled to commence in the third quarter of 2026, involves converting the LNG tanker Karadeniz into Karpowership’s first high-capacity FSRU, capable of delivering a regasification capacity of up to 600 million standard cubic feet per day.

This contract follows a letter of intent signed in August 2025 and underscores Seatrium’s dominance in the FSRU conversion market, having completed over 90% of the world’s FSU/FSRU conversions. Alvin Gan, Executive Vice President of Repairs and Upgrades at Seatrium, stated, “This contract win reinforces our global leadership, having done over 90% of the world’s FSU/FSRU conversions.”

Gokhan Kocak, Chief Technical Operations Officer at Karpowership, expressed confidence in Seatrium’s capabilities, noting, “Seatrium’s proven track record, deep engineering expertise and technical capabilities make them a trusted and invaluable partner in advancing our mission to deliver reliable and sustainable energy solutions worldwide.”

Seatrium’s latest achievement brings its total FSRU and FSU conversion projects to 23, highlighting its engineering expertise and commitment to safety. This partnership with Karpowership not only strengthens Seatrium’s position in the global LNG-to-power market but also aligns with the ongoing transition towards cleaner energy solutions.

The Institution of Engineers, Singapore (IES) and Ngee Ann Polytechnic (NP) have announced significant initiatives to advance Singapore’s manufacturing sector during the World Engineering Day 2026 event. Held at NP’s Convention Centre, the event was graced by Indranee Rajah, Minister in the Prime Minister’s Office, and focused on the theme “Engineers and the Future of Engineering: Opportunities of Emerging Technologies.”

NP, in collaboration with Siemens, will launch a smart manufacturing platform designed to assist small and medium-sized enterprises (SMEs) in adopting Industry 4.0 technologies. This platform integrates digital technologies, automation, and data analytics, allowing companies to pilot solutions before full-scale deployment. Additionally, NP and the Agency for Science, Technology and Research (A*STAR) will introduce Singapore’s first stackable Specialist Diploma in Smart Manufacturing. This programme aims to equip industry professionals with skills in artificial intelligence and automation.

The event also saw the launch of new national standards for healthier indoor environments, developed by the IES-Standards Development Organisation. These standards focus on hybrid cooling systems and energy-efficient measures to improve indoor air quality.

As part of its 60th anniversary celebrations, IES unveiled a commemorative logo, marking its contributions to engineering in Singapore. The year-long IES60 milestone will include various programmes and engagements to highlight the evolving role of engineers.

The World Engineering Day 2026 event featured insights from distinguished speakers on technological transformation and the future skills required for engineers, underscoring the importance of innovation in sustainable development.