Industry News

Organisations implementing advanced responsible artificial intelligence (AI) governance are seeing significant business benefits, according to the latest findings from EY’s Responsible AI Pulse survey. The survey, which gathered insights from 975 C-suite leaders across 21 countries, including 30 from Singapore, highlights that companies with real-time monitoring and oversight committees report measurable gains in revenue and cost savings.

In Singapore, 90% of respondents noted improvements in efficiency and productivity, whilst 83% reported enhanced innovation. However, fewer organisations saw gains in revenue growth (37%) and cost savings (47%). Globally, firms with robust AI governance are 34% more likely to experience revenue growth and 65% more likely to achieve cost savings.

Manik Bhandari, EY Asean Data and Artificial Intelligence Leader, emphasised the importance of responsible AI, stating, “With transparent, well-governed AI systems, organisations can scale AI safely in more products, markets and customer segments.”

Despite these benefits, the survey also revealed that all Singapore organisations experienced financial losses due to AI-related risks, with 63% reporting losses exceeding $1m. Common risks include biased outputs, misinformation, and legal liabilities. The rise of “citizen developers”—employees independently deploying AI agents—further complicates governance, with 70% of Singapore organisations allowing such activities.

The survey underscores the need for comprehensive policies to manage AI agents responsibly. Whilst 71% of organisations have formal frameworks in place, only 7% of Singapore’s C-suite respondents could correctly identify appropriate controls for AI-related risks. Bhandari noted, “Embedding transparency, fairness and privacy from the start is essential.”

uSMART Securities Singapore Pte Ltd (uSMART SG), a prominent fintech brokerage platform licensed by the Monetary Authority of Singapore, has inaugurated its second branch at Somerset, Orchard. The new location, launched on 24 October 2025, introduces a Wealth Management Hub designed to offer investors more personalised and smarter solutions to grow their wealth.

The Somerset branch follows the success of uSMART SG’s initial outlet at Robinson Road. Alfred Kwok, Head of Marketing at uSMART SG, stated, “Expanding our presence in Orchard is a key step towards making investing even more accessible.” The hub provides a space where investors can engage with experts, attend educational sessions, and experience the integration of digital innovation with personal guidance.

The branch also features a partnership with Maybank Asset Management, offering the Maybank Money Market Fund as a reliable cash management solution. Ivan Won, Head of Product and Marketing, remarked, “This marks the first step in our journey to bring a broader suite of Maybank Asset Management products to their clients.”

Visitors to the hub can explore a diverse range of global investment products, including stocks from the US, Singapore, Hong Kong SAR, Japan, and the UK, as well as Money Market Funds, options, and structured products like Fixed Coupon Notes. uSMART SG was recently recognised as the Best Brokerage for Educational Tools for New Investors at the SingSaver BestOf Awards 2025, highlighting its commitment to investor education.

The launch of the Somerset Wealth Management Hub signifies uSMART SG’s continued growth in Singapore and its expanding global presence, including recent ventures into the United States. The company, backed by strategic investor Chow Tai Fook Holding, celebrates its third anniversary locally and seventh globally.

CapitaLand Integrated Commercial Trust (CICT) has announced its business updates for the third quarter of 2025, revealing a modest increase in gross revenue and net property income. For the year-to-date ending 30 September 2025, CICT’s gross revenue rose by 0.1% year-on-year to S$1,191.6m, whilst net property income grew by 0.2% to S$874.2m. The trust’s portfolio committed occupancy reached 97.2%, with retail and office occupancies at 98.7% and 96.2%, respectively.

The retail sector showed robust performance, with a 7.8% rent reversion and a 19.2% year-on-year increase in tenant sales per square foot, largely attributed to ION Orchard’s contribution. Excluding ION Orchard, tenant sales still saw a 1.0% rise. Shopper traffic also increased by 24.8% year-on-year, with a 4.5% rise excluding ION Orchard. The office portfolio experienced a 6.5% rent reversion, with new and renewed leases totalling 618,000 square feet.

CICT completed the acquisition of a 55% interest in CapitaSpring’s office component for S$1,045.0m in August, marking the beginning of income contribution on a full basis. Asset enhancement initiatives are underway at several properties, including Tampines Mall and Raffles City Tower, expected to enhance asset value and tenant experience.

Financially, CICT maintains a healthy position with an aggregate leverage of 39.2% and a reduced average cost of debt at 3.3%. The trust issued S$300m in 7-year fixed rate notes at 2.25% per annum, due in September 2032, further strengthening its capital management strategy.

The Straits Times Index (STI) has climbed back to the 4,400 mark, closing at 4,422.21, following a 2.17% rise. This rebound is attributed to the robust performance of Wall Street, which reached all-time highs due to a favourable inflation report. The likelihood of a 25-basis points interest rate cut by the US Federal Reserve this week stands at 96.9%.

In corporate developments, Jardine Matheson has made a privatisation offer for Mandarin Oriental, causing both companies’ stocks to surge. Meanwhile, Seatrium has rejected what it termed the “wrongful termination” of a $475m contract.

A report from DBS suggests that the STI could reach 10,000 and the Singapore Dollar could achieve parity with the US Dollar by 2040. Additionally, the Monetary Authority of Singapore (MAS) has issued a consultation paper on civil compensation for market misconduct, with more market measures expected to be announced in November.

Upcoming events include a dialogue with Keppel Infrastructure Trust on 30 October and the SIAS Investors’ Choice Awards on 11 November. These events aim to provide investors with insights into company performances and market trends.

The Securities Investors Association (Singapore) continues to promote investor education and financial well-being, supported by a 250% tax deduction for qualifying donations extended until 31 December 2026.

PropNex Research has revealed a significant rebound in Singapore’s shophouse market during the third quarter of 2025, with transactions climbing by 50% quarter-on-quarter. The surge is attributed to improved buyer and seller sentiment, bolstered by a stable economy, lower interest rates, and a positive tourism outlook.

In Q3 2025, 27 shophouse transactions were recorded, marking the highest quarterly sales in two years and amounting to $210m. This represents a 65.3% increase in value compared to the previous quarter. District 15, encompassing Katong and Joo Chiat, led the sales with eight deals valued at $47.9m.

Leasing demand remained stable, with 816 rental contracts signed, a slight 2% increase from Q2 2025. However, the total value of these contracts fell by nearly 4% to $8.58m. Median rentals decreased by 1.3% to $6.59 per square foot per month.

PropNex anticipates continued investment interest in shophouses, driven by their safe-haven appeal and heritage value. However, macroeconomic uncertainties and US-China trade tensions could impact business outlooks and yields. Despite these challenges, shophouses are expected to remain attractive to investors seeking defensive assets.

CBRE has been appointed as the exclusive leasing agent for 218 Pandan Loop, a six-storey industrial facility in Singapore designed for food manufacturing, distribution, and logistics. The property, strategically located within the Pandan Loop Food Zone, features a 3,000-pallet cold room, an Automated Storage and Retrieval System (ASRS), ambient warehouse space, and multiple loading bays.

The facility is purpose-built to support seamless supply chain connectivity, offering a rare plug-and-play opportunity for both established operators and new entrants in Singapore’s food logistics ecosystem. Its location within a vibrant cluster of food manufacturing and logistics businesses enhances operational efficiency and provides immediate access to complementary services.

Graeme Bolin, Head of Occupier and Leasing, Industrial and Logistics Services at CBRE Singapore, highlighted the facility’s modern specifications and integrated cold chain infrastructure. “218 Pandan Loop is a standout facility in Singapore’s food logistics landscape. Its location within a well-established food zone further strengthens its appeal,” he stated.

Situated approximately 15 kilometres from the Central Business District, the site boasts excellent connectivity via the Ayer Rajah Expressway, Clementi MRT station, and the upcoming West Coast MRT station, expected to be completed by 2032. Enquiries for leasing opportunities at 218 Pandan Loop are now open, offering businesses a turnkey solution that supports both operational efficiency and scalability.

High-performing organisations in the Asia-Pacific region are leveraging observability to achieve a 125% annual return on investment (ROI), according to the latest State of Observability 2025 report by Splunk. This strategic shift is particularly significant as artificial intelligence (AI) becomes increasingly embedded in daily operations, transforming observability from a technical function into a business catalyst.

The report highlights that Singapore leads in AI adoption, with 85% of organisations incorporating AI into their workflows. This integration is credited with improving incident troubleshooting speeds, a top ROI driver for 64% of Singaporean organisations. Whilst Australia and India are capitalising on AI to focus more on innovation rather than maintenance, with 87% and 82% of organisations, respectively, reporting such benefits.

Observability is also seen as a business multiplier, with 65% of organisations across the region noting a positive impact on revenue. Additionally, 64% report improvements in product roadmaps, underscoring observability’s role in strategic decision-making. Patrick Lin, SVP and GM of Observability at Splunk, stated, “Observability practitioners are becoming critical stakeholders in key business decisions.”

However, the report also identifies challenges, such as skills shortages in Japan and New Zealand, which hinder the full realisation of AI and observability benefits. To address these, the report suggests upskilling observability practitioners to manage AI workloads effectively.

As organisations continue to navigate the complexities of AI, observability practices are poised to play a crucial role in enhancing business performance and fostering innovation across the region.

StarHub and Mediacorp have announced a strategic partnership aimed at reshaping Singapore’s media and entertainment sector. This collaboration will integrate StarHub’s TV+ content, including the Premier League and over 7,000 hours of live sports, into Mediacorp’s mewatch platform, offering audiences a more comprehensive viewing experience. The agreement was formalised at a signing ceremony on 27 October 2025 at StarHub Green.

The partnership seeks to address the increasingly fragmented viewing habits by providing a unified content destination. This move allows viewers to access a wide range of entertainment, from global blockbusters to local favourites, through flexible subscription packages. Additionally, advertisers will benefit from enhanced targeting capabilities, leveraging the combined reach and data-driven insights of both companies.

Nikhil Eapen, Chief Executive of StarHub, highlighted the partnership’s potential to “unlock new advertising solutions powered by data and precision,” whilst Tham Loke Kheng, Chief Executive of Mediacorp, emphasised the creation of “greater value for audiences and advertisers alike.”

This collaboration not only aims to strengthen Singapore’s media ecosystem but also positions the local industry as a formidable alternative to global streaming platforms. By expanding content access and fostering innovation, StarHub and Mediacorp are committed to delivering long-term value for audiences and advertisers, and supporting the growth of local creative talent.

Sembcorp Industries has announced two major clean energy initiatives on Jurong Island, Singapore. The projects include the expansion of the country’s largest utility-scale energy storage system and the launch of the Sembcorp Jurong Island Solar Farm. These developments aim to enhance Singapore’s renewable energy capabilities in line with the Green Plan 2030.

The energy storage system has been upgraded from 285MWh to 326MWh through a pioneering vertical expansion, allowing increased capacity without additional land use. This innovative approach marks the first such expansion of an operational energy storage system in Singapore. Sembcorp plans to explore further battery stacking opportunities across the island, reinforcing its leadership in advanced energy storage solutions. The Energy Market Authority (EMA) will collaborate with Sembcorp to assess the system’s ability to provide inertia, crucial for maintaining grid stability.

The solar farm, with an installed capacity of 118MWp, is the largest ground-mounted solar project in Singapore. It spans six vacant industrial land parcels and generates enough energy to power approximately 33,200 four-room HDB flats annually. This project highlights Sembcorp’s capability to repurpose unused land for renewable energy, supporting the nation’s sustainability goals.

Koh Chiap Khiong, President and CEO of Gas and Related Services at Sembcorp, emphasised the company’s commitment to integrating and scaling clean energy technologies. “These initiatives demonstrate our ability to integrate and scale clean energy generation and storage technologies, reinforcing a resilient and future-ready energy ecosystem,” he stated.

These projects underscore Sembcorp’s role in advancing Singapore’s energy transition and its dedication to sustainable development.

Jurong Island, a cornerstone of Singapore’s Energy and Chemicals (E&C) industry, celebrates its 25th anniversary by pivoting towards low-carbon innovation. Home to over 100 global E&C companies, the island is integral to Singapore’s manufacturing sector, contributing around 3% to the nation’s GDP. As the industry shifts towards sustainability, Jurong Island aims to meet the growing demand for decarbonisation solutions and new energies.

Since the launch of the Sustainable Jurong Island plan in 2021, the island has seen a 14-fold increase in sustainable product output, with a target of 15-fold by 2030. Companies like ExxonMobil are investing in cleaner fuel production, whilst a partnership with SHub—a consortium of Shell and ExxonMobil—aims to develop a cross-border carbon capture and storage project capable of storing 25 million tonnes of carbon dioxide annually.

The Economic Development Board (EDB) has awarded 35 projects with the Resource Efficiency Grant for Emissions, supporting innovative solutions to reduce emissions. Projects from companies such as Evonik and Air Liquide are expected to significantly cut carbon emissions, equivalent to removing 80,000 cars from the road.

Looking ahead, Jurong Island will focus on becoming a hub for speciality chemicals and sustainable materials, with over 30 new projects since 2021. Additionally, the island will serve as a testbed for new energies and low-carbon technologies, with initiatives like Sembcorp Solar’s 118 MWp solar deployment and the development of Singapore’s largest low-carbon data centre park.

As Jurong Island continues to evolve, its role in driving Singapore’s low-carbon future remains pivotal, aligning with the nation’s goal of achieving net-zero emissions by 2050.