Industry News

Strategic Marine has successfully delivered its second 27-metre Z-Bow Crew Transfer Vessel (CTV) to a customer in Taiwan, marking the completion of a two-vessel programme aimed at supporting offshore wind operations in the region. Developed in collaboration with BMT Limited, the vessel is equipped with advanced features such as controllable pitch propellers, bow thrusters, and an Active Fender System, ensuring reliable performance in challenging conditions.

The delivery signifies Strategic Marine’s capability in executing multi-vessel construction programmes and meeting specific regional requirements. This second vessel handover also completes a four-CTV building programme initiated in Q2 2024 with the same customer.

Chief Executive Officer of Strategic Marine, Chan Eng Yew, stated, “The successful delivery of the second 27m Z-Bow CTV to Taiwan marks another step forward in our collaboration with the customer. These vessels highlight our focus on building dependable, high-performance solutions that support the continued expansion of offshore wind energy.”

Strategic Marine, a Singapore-based shipyard, continues to collaborate with operators and partners globally to deliver innovative aluminium vessels tailored to the evolving needs of the offshore wind sector. This latest delivery underscores the company’s commitment to providing high-quality, specialised vessels for both civilian and defence applications. As the offshore wind industry expands, Strategic Marine’s role in supplying advanced vessels is expected to grow, further supporting the sector’s development.

Singapore Airlines (SIA) Group has announced a significant rise in passenger traffic for December 2025, with a 1.9% increase compared to the previous year. This growth, coupled with a 2.6% rise in passenger capacity, resulted in a passenger load factor of 87.9% for the group. SIA and its low-cost subsidiary, Scoot, achieved monthly passenger load factors of 87.6% and 89.1%, respectively.

The group carried a combined total of 3.8 million passengers in December, marking a 4.8% year-on-year increase and setting a new monthly record. This surge was driven by the peak travel demand during the year-end period. For the entire year of 2025, SIA Group transported 41.6 million passengers, surpassing the previous record of 39 million set in 2024.

In the cargo sector, SIA Group experienced a 7.4% year-on-year increase in cargo carriage, supported by heightened freighter activity and traditional year-end demand. Cargo loads rose by 4.5%, outpacing the 1.6% growth in cargo capacity, leading to a cargo load factor of 55.2%, up by 1.6 percentage points.

Scoot expanded its network in December by launching passenger services to Labuan Bajo and Semarang in Indonesia, and Okinawa in Japan. By the end of December 2025, the group’s passenger network spanned 134 destinations across 37 countries and territories, with SIA and Scoot each serving 79 destinations. The cargo network covered 138 destinations in 38 countries and territories.

Singapore’s largest Community Living operator, The Assembly Place (TAP), has announced its initial public offering (IPO) of approximately 50.3 million shares at S$0.23 each. The IPO, which is expected to raise gross proceeds of S$18.3m, will close on 21 January 2026, with trading commencing on the SGX-ST Catalist on 23 January 2026.

The offering includes 2 million Public Offer Shares and 48.3 million Placement Shares, with cornerstone investors such as Apricot Capital and Maybank Securities subscribing to approximately 29.5 million shares. SAC Capital Private Limited is acting as the Sponsor, Issue Manager, Underwriter, and Placement Agent for the IPO.

TAP, which operates approximately 3,422 keys across 100 properties, leads the market with a 34% share. Its community-driven approach has resulted in occupancy rates exceeding 90% since FY2022. The company plans to expand its portfolio to over 10,000 keys by 2030 and is exploring opportunities in Southeast Asia, including a new property in Kuala Lumpur.

Eugene Lim, TAP’s CEO, stated, “The IPO proceeds will enable us to accelerate our growth plans and strengthen our market position.” The funds will be used for portfolio expansion and co-investment opportunities with property asset owners. TAP’s asset-light model and proprietary technology have facilitated its rapid growth, with revenue rising from S$6.9m in FY2022 to S$18.9m in FY2024.

New home sales in Singapore experienced a significant decline in December 2025, marking the second consecutive month of reduced sales. According to data from the Urban Development Authority (URA), sales excluding Executive Condominiums (ECs) fell by 39.4%, from 325 units in November to 197 units in December. This figure also represents a 3% decrease compared to December 2024.

The dip in sales is attributed to the holiday season, during which prospective buyers were on holiday and developers typically delay new launches. December’s sales were the lowest for the year, with only one new launch, the 186-unit Pollen Collection II. The Continuum, Otto Place, and Nava Grove were among the best-selling projects.

Despite the December slump, 2025 saw a robust overall performance with 10,821 new units sold, excluding ECs. This was a significant increase from the 6,469 units sold in 2024, making it the highest annual sales volume since 2021. Christine Sun, Chief Researcher & Strategist of Realion (OrangeTee & ETC), noted that the strong sales were driven by lower interest rates, attractive project locations, and a stabilising global economy.

Looking ahead, 2026 is expected to see the launch of approximately 8,113 new homes, with many projects located in more affordable suburban areas. Prices of new homes are anticipated to rise moderately by 2 to 4%. An estimated 8,500 to 9,500 new homes may be sold in 2026, slightly less than in 2025 but more than in 2024.

Skyscanner has unveiled its Cheapest Destination Planner, a new tool designed to assist Singaporean travellers in planning cost-effective holidays for 2026. The widget aims to address common travel planning challenges, such as feeling overwhelmed and concerns over expenses, which affect 63% and 69% of travellers, respectively. By showcasing the lowest-priced destinations and optimal travel days each month, the tool promises to streamline the holiday planning process.

The launch comes as 91% of Singaporeans plan to travel abroad this year, with many seeking relaxation and new experiences. However, only 60% have booked flights, with cost and destination indecision being significant barriers. Skyscanner’s new tool, along with a curated list of the top 10 cheapest destinations for 2026, offers solutions for quick and affordable getaways.

Cyndi Hui, Skyscanner’s Travel Trends and Destinations expert, highlighted the appeal of the tool for time-starved Singaporeans. “With great value fares and smart tools that do the hard work for you, Skyscanner helps travellers spend less time planning and more time enjoying the break they deserve,” she said.

The top 10 cheapest destinations include Phuket, Manila, and Bali, with average return flight prices under S$517. The Cheapest Destination Planner also provides insights into the best days to travel, with Sunday identified as the most cost-effective day on average. Skyscanner continues to innovate, offering features like price drop alerts and multi-city trip options to enhance travel experiences.

HSBC Singapore has unveiled its Wealth Academy, a pioneering learning programme aimed at enhancing the advisory skills and service excellence of its relationship managers and wealth advisers. This initiative, developed in collaboration with the prestigious London Business School and the Singapore Airlines Academy, seeks to address the increasingly sophisticated needs of clients in Singapore’s competitive wealth management sector.

The Wealth Academy offers a bespoke learning experience designed to deepen strategic wealth advisory capabilities. It also includes a structured learning pathway for HSBC’s frontline staff, ensuring they are equipped to provide seamless and elevated client experiences. Ashmita Acharya, Head of International Wealth and Premier Banking at HSBC Singapore, highlighted the importance of this initiative, stating, “Singapore is one of the world’s leading wealth hubs and our clients here expect deep expertise and seamless, elevated experiences that meet them where they are.”

Acharya further emphasised the significance of trusted advisory and service excellence, noting that these are intrinsically linked to the quality of judgement, empathy, and experience that HSBC’s teams bring to every client interaction. By partnering with globally recognised institutions like London Business School and Singapore Airlines Academy, HSBC aims to provide world-class learning opportunities to its staff, thereby supporting the next phase of wealth growth in Singapore.

The launch of the Wealth Academy underscores HSBC’s long-term commitment to developing a future-ready workforce capable of navigating the complexities of the global wealth management landscape.

Aon plc has announced the appointment of Kulshaan Singh as the enterprise client leader for Asia Pacific, effective immediately. Based in Singapore, Singh will focus on delivering innovative risk and human capital solutions to Aon’s enterprise and multinational clients across the region. Reporting to Craig Torgius, Aon’s chief client officer and head of enterprise clients for Asia Pacific, Singh is tasked with building strategic partnerships and unlocking new growth opportunities.

Singh brings over 20 years of experience in consulting and executive leadership, having held significant roles such as managing director for talent solutions for Southeast Asia at Aon, CEO of Mercer Singapore, and chief people officer at Charoen Pokphand Group. Most recently, he served as the global group chief people officer at Thai Union Group, where he led large-scale transformation initiatives.

Craig Torgius praised Singh’s strategic acumen and execution ability, stating, “His ability to lead transformation, foster collaboration, and deliver results across diverse industries will be invaluable in helping clients navigate an increasingly complex risk landscape.”

Expressing enthusiasm for his new role, Singh said, “I feel privileged and excited to be back at Aon and look forward to working closely with Aon’s global and local teams to deliver solutions that help clients navigate complexity and interconnected challenges.”

Aon, a leading global professional services firm, provides clients in over 120 countries with insights and solutions to make better risk and people decisions. Singh’s appointment is expected to enhance Aon’s capabilities in the Asia Pacific region, supporting clients in achieving their growth ambitions.

MoneyMax Financial Services Ltd., a prominent financial services provider in Southeast Asia, has submitted an application to transfer its listing from the Catalist to the Main Board of the Singapore Exchange Securities Trading Limited (SGX-ST). The company, which has been listed on the Catalist since 2013, announced this strategic move on 14 January 2026, aiming to bolster its corporate profile and attract a broader range of institutional and international investors.

The company has demonstrated consistent growth, with net profit attributable to owners nearly doubling from S$19.8m in 2021 to S$38.2m in 2024. For the first half of 2025, MoneyMax reported a 78.8% year-on-year increase in net profit, reaching S$29.6m. Executive Chairman and CEO, Dato’ Sri Dr. Lim Yong Guan, stated, “MoneyMax has delivered strong and consistent growth in its performance over the years, underpinned by disciplined execution, continuous innovation and our ability to stay ahead of market trends and evolving lifestyle needs.”

The proposed transfer is subject to approval from the SGX-ST and MoneyMax shareholders at an extraordinary general meeting. Dr. Lim added, “A listing on the Main Board is an important step in our growth journey. We believe that it will provide MoneyMax with greater visibility and recognition in the capital markets and amongst public investors.”

MoneyMax’s move to the Main Board is expected to strengthen investor confidence and better position the company to pursue strategic objectives. Further announcements will be made as developments occur.

Temasek-owned Nurasa has teamed up with UK-based New Wave Biotech to address the significant challenge of scaling food-tech innovations from the lab to market. This partnership integrates New Wave Biotech’s bioprocess simulation tools into Nurasa’s ecosystem, enabling companies to predict production costs, yields, and environmental impacts before committing to large-scale investments.

The collaboration is set to enhance Singapore’s role as a hub for sustainable food technologies, tackling high capital costs and scale-up failures that often hinder progress. By combining digital modelling with pilot facilities and market access across Asia, Nurasa aims to reduce risks and accelerate the commercialisation of resilient, sustainable food supply chains.

New Wave Biotech’s Bioprocess Foresight platform will allow companies within Nurasa’s network to virtually test thousands of downstream processing scenarios. This includes automated techno-economic analysis and life-cycle assessment functions, providing clear insights into cost, yield, and environmental trade-offs. The software has demonstrated its ability to cut physical experiments by up to 90% and halve unit costs, offering a clearer path to market for ingredient companies.

Samson Lee, Strategic Partnerships Manager at Nurasa, highlighted Singapore’s growing position as a hub for scalable, sustainable nutrition. He stated, “Integrating New Wave Biotech’s bioprocess simulation capabilities into our platform strengthens our ability to guide both startups and corporates towards commercially viable production.”

Zoe Yu Tung Law, Co-Founder and CEO of New Wave Biotech, added, “Our platform predicts technical outcomes and contextualises them through TEA and LCA, giving teams clear, data-driven insight at every stage of development.”

This partnership aims to strengthen the commercial pathway for sustainable nutrition and biomanufactured ingredients across Asia and Europe, linking digital modelling with real-world scale-up environments and market opportunities.

Global IoT cybersecurity leader Nozomi Networks has announced the establishment of its new Asia Pacific and Japan (APJ) headquarters in Singapore. This strategic move comes on the heels of Nozomi’s recent US$1b acquisition by Mitsubishi Electric, marking a significant milestone in operational technology security. The decision to base the headquarters in Singapore is driven by the city-state’s strategic location, skilled workforce, and leadership in industrial cybersecurity.

Nozomi Networks, which serves nearly 100 customers across the APJ region, aims to leverage Singapore’s role as a leading business hub to accelerate innovation and provide enhanced support to its growing customer base. The company is committed to strengthening critical infrastructure security through collaboration with Singapore’s Cyber Security Agency (CSA) and adherence to frameworks like the Cybersecurity Act.

David Hope, Nozomi’s regional vice president, highlighted the increasing awareness of critical infrastructure cybersecurity and the role of regulatory requirements in driving organisations’ investment in cybersecurity solutions. “Nozomi Networks has worked hand in hand with Singaporean industry, critical infrastructure, and government leaders to raise the bar on industrial cyber security, and it’s fitting now to make the country our APJ headquarters,” Hope stated.

The new headquarters will also enable Nozomi Networks to expand its partner network in the region, supporting its mission to deliver robust cybersecurity solutions. This development further solidifies Nozomi’s global presence and underscores its commitment to supporting the CSA’s vision of a secure and resilient operational technology system for Singapore’s critical infrastructure.