Industry News

Singapore’s workforce and hiring systems are misaligned, according to Indeed’s Work at 60 Report. The study highlights that whilst workers are adapting to technological changes and longer careers, hiring practices remain outdated, focusing on rigid job titles and degree requirements. Workers prioritise salary, job security, and work-life balance, with 59% ranking these as top priorities. However, employers estimate these factors at only 29% and 27%, respectively.

“Workers are nearly twice as likely as employers think to prioritise salary, security and balance,” said Saumitra R Chand, Career Expert at Indeed. This misalignment risks narrowing the talent pool in a competitive labour market.

Entry-level roles are expected to face the most significant disruption, with 46% of workers and 44% of employers agreeing. Employers also report challenges in finding skilled candidates, with 30% citing this as their biggest issue and 52% finding Gen Z the hardest to attract or retain. Entry-level positions are vulnerable to automation, prompting younger workers to develop hybrid skills combining digital fluency with human strengths.

The report indicates a cultural shift towards lifelong learning and skills-first hiring, with 58% of employees emphasising these over traditional degrees. As Singapore celebrates 60 years of nationhood, the labour market is at a turning point. The future of work will depend on evolving hiring systems to align with worker priorities, shaping how talent is matched to opportunities in the coming decade.

Singaporean retail investors are increasingly concerned about international conflicts impacting their portfolios, according to a recent survey by trading platform eToro. Conducted between 12 and 27 February 2026, the survey found that 34% of Singaporean investors now view international conflict as the primary threat to their investments, up from 18% in the previous quarter. This shift in sentiment occurred before the recent escalation in the Middle East, highlighting a growing caution among investors.

The survey, which included 1,000 Singapore-based retail investors, also revealed a decline in confidence in the global economy, with only 35% expressing optimism this quarter, down from 43% in Q3 2025. This uncertainty is further reflected in their investment strategies, as only 38% plan to increase their portfolio contributions in the coming months.

A significant change in investor preference is also evident, with more Singaporean investors now favouring China over the US for long-term returns. For the first time since the survey began, 40% of respondents believe China’s stock market will deliver the strongest returns, surpassing the US at 39%. This marks a notable reversal from Q3 2025, when nearly half of the investors preferred the US.

Zavier Wong, Market Analyst at eToro, noted, “Recent geopolitical developments may be seen as a catalyst here, but it’s clear that Singaporean investors were already displaying heightened levels of caution coming into 2026.”

The generational divide is also apparent, with younger investors still leaning towards the US, whilst older investors are increasingly looking to China. Wong added, “If the policy uncertainty out of the US persists through the year, that gap in generational sentiment may start to close faster than the data currently suggests.”

Royal Healthcare, a prominent medical institution in Singapore, has begun offering the FonesVisuas Test developed by NEC Corporation. This innovative blood test predicts disease risk, addressing the global rise in lifestyle-related diseases and dementia, as highlighted by the World Health Organisation (WHO). The test aims to enhance proactive health management by identifying potential health risks early.

Located in Singapore’s medical hub, Novena, Royal Healthcare is known for its personalised and high-quality health screening services. The institution combines cutting-edge medical expertise with hospitality, catering to both local and international patients. The introduction of the FonesVisuas Test aligns with the Organisation for Economic Co-operation and Development’s (OECD) findings, which identify cancer and cardiovascular diseases as leading causes of mortality worldwide.

NEC Corporation, listed on the Tokyo Stock Exchange, has developed the FonesVisuas Test to meet the growing demand for advanced predictive diagnostics. The test is part of Royal Healthcare’s commitment to providing efficient and convenient medical experiences. A spokesperson from NEC stated, “The FonesVisuas Test represents a significant advancement in disease risk prediction, offering patients a proactive approach to their health.”

As the healthcare landscape evolves, the integration of such predictive diagnostics is expected to play a crucial role in managing global health challenges. Royal Healthcare’s adoption of the FonesVisuas Test marks a step forward in enhancing patient care and disease prevention strategies.

ScaleUp Bio, Singapore’s first and largest precision fermentation contract development and manufacturing organisation (CDMO), has announced that Fusionopolis Ventures, a subsidiary of Economic Development Innovations Singapore, will join ADM as a shareholder. This move is set to bolster ScaleUp Bio’s growth as a leading biomanufacturing platform in Asia, focusing on high-value bio-based speciality molecules across various sectors, including cosmetics, pharmaceuticals, and food.

The partnership aims to enhance ScaleUp Bio’s capabilities by leveraging its commercial pilot facility, operated jointly with A*STAR Singapore Institute of Food and Biotechnology Innovation, and its industrial base in Tuas. This integrated approach is designed to streamline the process from development to commercial production, addressing a critical infrastructure gap for companies needing high-quality fermentation capacity.

Philip Yeo, Chairman of EDIS, expressed confidence in the investment, stating, “This investment reflects our conviction in platforms that combine deep technical capability with disciplined scale-up execution.” He highlighted Singapore’s potential as a strategic launchpad for biomanufacturing, akin to its role in the biopharmaceutical sector.

Fabiana Bianchi, President of Asia-Pacific at ADM, noted the potential of precision fermentation to open new opportunities for producing bio-based ingredients efficiently. The fresh capital and strategic backing are expected to enhance ScaleUp Bio’s ability to serve its customers, reduce execution complexity, and accelerate timelines, positioning it as a key player in the growing biomanufacturing needs of Asia and beyond.

MSIG Asia has announced a strategic equity investment in Ancileo, an insurtech company specialising in travel insurance technology, to accelerate its growth in the Asia Pacific region. This move aims to strengthen MSIG’s digital capabilities and improve the integration of travel protection into airline and online travel agency (OTA) booking systems, enhancing customer experience and accessibility.

The partnership comes as intra-regional travel in Asia Pacific experiences rapid growth, with increasing demand for seamless, digital-first travel experiences. By embedding insurance coverage directly at the point of purchase, MSIG aims to capture new opportunities in the evolving travel ecosystem.

Clemens Philippi, CEO of MSIG Asia, stated, “This marks a strategic partnership that sharpens our competitiveness and advances our digital capabilities as travel continues to expand rapidly across our various markets.” He emphasised the collaboration with Ancileo would deliver faster, more relevant experiences for travellers whilst creating long-term value for partners and customers.

Olivier Michel, Founder and CEO of Ancileo, expressed enthusiasm for the partnership, noting, “Our goal is to reimagine what B2B2C travel insurance looks like in Asia — protection that partners are proud to offer and travellers are glad to have.”

This investment reflects broader industry trends towards digital distribution and integrated travel protection, positioning MSIG to better serve the growing needs of travellers in the region. As the travel landscape continues to evolve, MSIG’s enhanced digital strategy is set to play a crucial role in meeting the demands of modern travellers.

The Singapore Exchange (SGX) has announced the listing of the LionGlobal Singapore Physical Gold ETF, marking a significant milestone as the first gold ETF in Singapore with its bullion stored locally. Managed by Lion Global Investors, the ETF aims to provide investors with a means to diversify their portfolios amidst ongoing market uncertainties. The fund’s assets under management have already surpassed S$500m.

The ETF tracks the LBMA Gold Price AM and invests in gold bars that meet the London Bullion Market Association’s Good Delivery standards, ensuring a minimum fineness of 99.5%. Standard Chartered Bank serves as the custodian, with the gold securely stored and fully insured in Singapore. This development underscores Singapore’s growing reputation as a hub for precious metals trading in Asia.

Available in both Singapore and US dollars under the stock codes GLS and GLU, the ETF is priced at US$5 per unit. It is also eligible for investment through the Supplementary Retirement Scheme, allowing investors to integrate gold into their long-term financial strategies.

Ng Yao Loong, Head of Equities at SGX Group, highlighted the importance of gold in portfolio diversification, especially during volatile market conditions. He stated, “We value Lion Global Investors’ continued commitment to expanding innovative exchange-traded investment solutions.”

Teo Joo Wah, CEO of Lion Global Investors, expressed pride in launching Singapore’s first homegrown gold ETF, emphasising its role in enhancing trading efficiency and convenience for investors.

This new listing expands SGX’s ETF offerings to 53, with combined assets under management exceeding S$19 billion, further broadening investment opportunities for those seeking diversified exposure across various asset classes.

The Civil Aviation Authority of Singapore (CAAS) has announced a delay in the implementation of the Sustainable Aviation Fuel (SAF) Levy, initially set to begin in April 2026. The decision comes in response to the ongoing conflict in the Middle East, which is affecting airlines and passengers. The levy will now apply to tickets and services sold from 1 October 2026, for flights departing from 1 January 2027.

The SAF Levy will be applicable to all Origin-Destination passengers, cargo shipments, and both general and business aviation flights departing from Singapore. This adjustment shifts the original timeline, which was to start with tickets sold from 1 April 2026 for flights departing from 1 October 2026, as previously announced in November 2025.

Han Kok Juan, Director-General of CAAS, stated, “Singapore remains firmly committed to aviation decarbonisation. We are taking a pragmatic pause in view of the current situation. We will continue to work closely with our aviation industry partners and monitor global developments.”

The CAAS continues to focus on its mission to develop a safe and vibrant air hub, contributing significantly to Singapore’s success. This includes overseeing aviation safety, developing the air hub and industry, providing air navigation services, and contributing to international civil aviation development. The deferral of the SAF Levy reflects CAAS’s adaptive approach in response to global events, ensuring that the aviation sector remains resilient and sustainable.

Singapore’s domestic general insurance market has surpassed S$6b in gross written premiums for the first time, reaching S$6.09b in 2025, according to the General Insurance Association of Singapore (GIA). This marks an 8.4% year-on-year increase. However, net incurred claims also rose by 8.7% to S$1.8b, with motor claims experiencing an 11% surge, indicating more severe accidents despite stable accident numbers.

The sector’s underwriting performance improved, with profits rising 32% to S$289m. GIA President Ronak Shah emphasised the importance of insurance in helping individuals and businesses recover from unexpected events, stating, “The increase in claims underscores the vital role we play.”

Motor insurance remains the largest segment, with premiums growing 5.2% to S$1.28b, despite continued losses of S$6.9m. Property insurance premiums increased by 4.1% to S$864.1m, driven by a rise in fire incidents. Health insurance saw a 7.4% increase in premiums to S$1.24b, reflecting higher healthcare needs and costs.

Employer’s liability insurance showed a notable improvement in underwriting performance, reaching S$94.4m, whilst travel insurance premiums grew 8.6% to S$336.7m, supported by increased overseas travel.

As GIA celebrates its 60th anniversary, the sector remains committed to supporting Singapore’s communities and businesses amidst evolving risk landscapes. The association continues to work with partners to promote risk awareness and resilience.

Singlife has announced the appointment of Leo Mun Wai as an Independent Non-Executive Director to the boards of Singapore Life Holdings Pte. Ltd. and Singapore Life Ltd., effective from 23 March 2026. Mun Wai will also contribute to the Risk and Audit Committees, bringing over 30 years of financial services experience to the role.

Mun Wai’s extensive background includes senior leadership positions at the Monetary Authority of Singapore (MAS), where he served as Assistant Managing Director overseeing capital markets regulation. His experience spans regulatory oversight, governance, and market conduct, making him a valuable addition to Singlife’s board. He has also held board roles in the insurance and real estate sectors, including Great Eastern Life Assurance Singapore Ltd and Great Eastern General Insurance Ltd.

Ray Ferguson, Board Chairman of Singlife, expressed enthusiasm about Mun Wai’s appointment, stating, “His extensive experience in regulatory oversight and governance, coupled with his expertise in market conduct and digital transformation, will further strengthen the skillset of our Board.”

Mun Wai currently serves on the Board of Capitaland Integrated Commercial Trust, where he is a member of its Risk and Audit Committees. His appointment is expected to bolster Singlife’s commitment to delivering innovative financial solutions and building long-term trust with customers.

Singlife, a leading financial services company headquartered in Singapore, offers a comprehensive range of insurance products and financial advisory solutions. The company is a pioneer in digital insurtech and is committed to sustainable practices, as evidenced by its alignment with the United Nations Principles for Sustainable Insurance.

HSBC Life Singapore has introduced a new wellness initiative, Live Life Well, aimed at improving access to preventative care and enhancing community wellness across Singapore. This initiative is structured around four main pillars: promoting healthier workplaces, developing inclusive insurance solutions, enhancing health literacy, and bolstering community resilience. It seeks to transition from reactive medical interventions to proactive and early prevention, fostering a sustainable healthcare ecosystem.

A significant component of Live Life Well is the recent Memorandum of Understanding (MoU) with NHG Health. This partnership marks the first public-private collaboration of its kind, focusing on workplace wellness and community health. It will pilot NHG’s Health Manager for Companies (HM4C) model for HSBC Life’s employee benefits clients and facilitate collaboration on preventative care programmes, including referral pathways to NHG Health’s network of healthcare institutions.

Harpreet Bindra, CEO of HSBC Life Singapore, emphasised the importance of corporate and community engagement in improving health outcomes. “For insurers, this means moving beyond a model of protection towards one of prevention and active participation,” he stated, highlighting the initiative’s alignment with national efforts to build a resilient healthcare ecosystem.

This initiative follows a series of efforts by HSBC Life Singapore to promote sustainable healthcare practices, including last year’s launch of Savvy Claim premium discounts and collaborations with major healthcare providers like IHH Healthcare and Raffles Medical. These efforts aim to improve access to quality care for customers, reinforcing HSBC Life’s commitment to preventative healthcare.