Industry News

GREEN-HOUSE Festival 2026, held from 28 to 30 August at Temasek Shophouse, attracted 20,800 visitors, marking its largest edition yet. The festival featured 74 local brands, 24 workshops, and various sustainability-led experiences under the theme “Don’t Waste A Good Time”. This year’s event also extended its hours until 10pm, aligning with the Singapore Night Festival.

The festival showcased innovative sustainability practices, including a solar-powered kinetic installation by Mercedes-Benz, crafted from 800 reclaimed aluminium cans. L’Occitane en Provence collected 747 beauty empties through its Big Little Things recycling programme, rewarding participants with complimentary treats. Culinary experiences like Eat Your Scraps! transformed food waste into inventive dishes, whilst GoRentalSG and OATSIDE offered interactive sustainability experiences.

Since its inception in 2022, GREEN-HOUSE has grown significantly, with this year’s attendance representing an 8% increase from 2025. The festival also expanded its reach by including pet-focused activities and collaborations with social enterprises, enhancing its social and environmental impact.

Co-founder Michelle Chow expressed pride in the festival’s growth, stating, “Five years ago we filled a Geylang shophouse with forty brands and genuinely didn’t know if anyone would come. This weekend, we watched people queue past nine at night to eat a dessert made from banana peels.”

Looking ahead, GREEN-HOUSE will host the REMIX @ COMMON RARE pop-up from 18 to 20 September at Suntec City Convention Hall, continuing its mission to promote sustainability and community engagement.

ETC has announced the relaunch of 30 Mount Elizabeth, a freehold residential site in Singapore’s District 9, for collective sale through a public tender. The tender process is set to conclude on 12 October 2026 at 3pm. The guide price is set at S$580m, translating to approximately S$2,645 per square foot per plot ratio, inclusive of a 7% bonus floor area, with no land betterment charge applicable for redevelopment up to the baseline plot ratio of 4.45.

The site, spanning 47,607 square feet, is positioned in a prime elevated location within the Orchard area, offering developers the chance to create a substantial ultra-luxury residential project. Swee Shou Fern, Head of Investment Advisory at ETC, highlighted the site’s unique value, stating, “30 Mount Elizabeth stands out for its scale and positioning. An elevated land plot of 47,607 sq ft, the site offers developers greater flexibility in shaping a sizeable ultra-luxury residential project – what’s more in Singapore’s premier lifestyle district.”

The relaunch comes amid a scarcity of new freehold luxury residential developments in District 9. The last similar site sold was 21 Anderson in September 2021 for S$213m. The ultra-luxury residential segment in Singapore continues to see activity, with notable transactions such as a unit at Skywaters Residences selling for S$5,880 per square foot in July.

The site is conveniently located near Orchard and Somerset MRT stations and major expressways, providing easy access to key destinations. Nearby schools include Anglo Chinese School (Junior) and St Joseph’s Institution Junior. This relaunch presents a timely opportunity for developers to secure a site with long-term scarcity value.

Geotab, a global leader in connected transportation and asset tracking solutions, has launched the GO Focus Plus AI dash cam and video intelligence platform in Singapore. This initiative aims to improve fleet safety by reducing accidents through advanced AI video telematics. The launch comes as Singapore faces increasing enforcement, penalties, and road safety challenges.

The GO Focus Plus system integrates AI technology to provide real-time insights and alerts, helping fleet operators monitor driver behaviour and prevent potential accidents. The platform’s capabilities include detecting risky driving patterns and offering actionable feedback to drivers, thereby promoting safer driving habits.

“With the introduction of GO Focus Plus, we are committed to enhancing road safety in Singapore,” stated Geotab. The company believes that its innovative solution will support fleet managers in mitigating risks and improving overall safety standards.

This development is particularly significant as Singapore continues to address road safety concerns. The use of AI in transportation is expected to play a crucial role in reducing accidents and ensuring compliance with safety regulations. By leveraging cutting-edge technology, Geotab aims to set a new standard for fleet safety management in the region.

The introduction of the GO Focus Plus AI dash cam marks a pivotal step in Geotab’s expansion of its video telematics offerings, providing fleet operators with the tools needed to navigate the complexities of modern road safety.

AI Tax Advisors Pte. Ltd. has announced the launch of iTaxComp, an AI-driven platform designed to assist Singapore’s Corporate Service Providers (CSPs) and tax practitioners. Officially rolled out on 3 September 2026, the platform aims to reduce the manual workload of tax preparation by automating the process of reading accounting and tax data, analysing transactions, and producing draft tax reports.

The platform was developed by a team of seasoned professionals, including Derek Liew, Founder and CEO, Grace Ng, Chief of Tax, and Carter Koo, Chief Technology Officer. iTaxComp is designed to complement the expertise of tax professionals by allowing them to focus on judgement and client interaction rather than data entry. “Our AI prepares, whilst professionals decide,” said Liew, emphasising the platform’s role in empowering rather than replacing tax professionals.

The launch coincides with the Institute of Singapore Chartered Accountants’ (ISCA) national AI Fluency Programme and ongoing discussions by the Singapore Chartered Tax Professionals (SCTP) about AI’s role in the industry. iTaxComp is positioned as a supportive tool for the profession, aligning with Singapore’s broader push towards responsible AI adoption in finance.

The platform is initially available through a Launch Partner Programme, offering exclusive early access to 50 selected firms. These firms will benefit from a dedicated package of pricing and usage benefits. AI Tax Advisors is also developing iTaxQuest, a tax advisory module expected to launch early next year, further expanding their suite of AI solutions for the tax industry.

The Civil Aviation Authority of Singapore (CAAS) will introduce a Sustainable Aviation Fuel (SAF) Levy for all origin-destination passengers and general and business aviation flights departing Singapore from 1 January 2027. This levy will be applicable to tickets or services sold from 1 October 2026, and must be clearly listed in the fare breakdown.

The SAF Levy, as outlined in the Civil Aviation Authority of Singapore (Amendment) Act 2025, will fund the purchase of SAF and related environmental attributes (EAs), covering administrative costs. The Singapore Sustainable Aviation Fuel Company Ltd. (SAFCo), a non-profit entity owned by CAAS, will manage the levy collection and procurement of SAF and EAs. SAFCo will ensure the process is transparent and compliant with international sustainability standards, including the International Civil Aviation Organisation’s (ICAO) Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).

SAFCo’s framework will allocate Scope 1 EAs to aircraft operators based on their SAF Levy contributions, supporting ICAO’s goal of net zero carbon emissions by 2050. Scope 3 EAs will be available for organisations aiming to reduce emissions from business travel and air freight.

In August 2026, SAFCo completed its first voluntary SAF trial with nine companies, including Singapore Airlines and Scoot, demonstrating collaboration in aviation decarbonisation. A Request for Proposal for SAF procurement from the SAF Levy is expected by the end of 2026, with delivery anticipated in mid-2027.

The SAF Levy for air cargo shipments will be deferred by one year, applying to services sold from 1 October 2027 for flights departing from 1 January 2028. This delay allows CAAS to develop a robust levy collection mechanism for the diverse cargo operations sector.

The Housing Development Board (HDB) resale market in Singapore witnessed a new record in August 2026, with 201 flats sold for at least S$1m, according to the latest 99-SRX Media Flash Report. This marks an all-time high, surpassing the previous record of 188 million-dollar transactions in June 2026. The surge follows the removal of the 15-month wait-out period in July, potentially encouraging more private property owners to enter the resale market.

Despite the record in high-value transactions, overall HDB resale activity eased slightly, with 2,524 flats changing hands in August, a 5.1% decrease from July’s 2,660 transactions. However, August remained the second most active month in the past year, indicating sustained buyer interest.

HDB resale prices saw a marginal increase of 0.1% in August. Prices in Mature Estates rose by 0.7%, whilst Non-Mature Estates remained stable. By room type, 3-room flats experienced a 0.3% price decrease, whereas 4-room and Executive flats saw increases of 0.2% and 2.8%, respectively. Year-on-year, overall prices decreased by 0.5% compared to August 2025.

The highest transacted price for a resale flat in August was S$1.688m for a 5-room flat at Tiong Bahru View. In Non-Mature Estates, the top price was S$1.250m for an Executive flat at Woodlands Street 81.

Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that demand for well-located and premium flats is likely to remain resilient, particularly as buyers continue to prioritise larger homes in mature estates.

The Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Institute of Directors (SID) have announced a new training programme designed to enhance director capability and governance standards in Singapore. Unveiled at the SID Directors Conference 2026 by Second Minister for Finance Indranee Rajah, the Company Director Fundamentals (CDF) programme will be open for registration in October 2026.

The CDF programme, developed with support from RSM Singapore and Rajah & Tann Singapore LLP, is structured in two phases: CDF 101 and CDF 201. CDF 101 offers six complimentary modules providing directors with foundational knowledge in legal, fiduciary, and governance responsibilities. CDF 201 includes four paid modules focusing on advanced governance competencies crucial for effective board stewardship and organisational resilience.

Emily Poon, CEO of SID, emphasised the importance of the programme, stating, “Good governance is not just about compliance, it is about making better decisions, managing risk and creating long-term value.” She highlighted that the programme equips directors with the necessary knowledge and confidence to fulfil their responsibilities effectively.

Chia-Tern Huey Min, Chief Executive of ACRA, noted, “Directors play a central role in upholding governance and accountability across Singapore’s corporate community.” The initiative aims to make governance training more accessible, thereby reinforcing trust in Singapore’s business ecosystem.

Participants completing all ten modules will receive a Certificate of Completion from both ACRA and SID. This initiative is part of a broader effort to support better-governed organisations and maintain Singapore’s reputation as a trusted global business hub.

Zurich Insurance Company (Singapore) Ltd. has announced the appointment of Patrick Fyson as Head of Property, Asia, and Dylan Bryant as Head of Zurich Multinational & Captives, Asia Pacific. Both roles are based in Singapore and are part of Zurich’s strategy to strengthen its commercial insurance leadership across Asia Pacific.

Patrick Fyson will lead Zurich’s Property underwriting function in Asia, focusing on strategy execution and sustainable growth. His extensive experience includes roles at Canopius Group and Tokio Marine Kiln. Liam Burrell, CEO Singapore & Head of Commercial Insurance, Asia, praised Patrick’s technical skills and leadership, stating they are crucial for the next growth phase of Zurich’s Property portfolio in Asia.

Dylan Bryant, returning to Zurich, will head the newly created role of Head of Zurich Multinational & Captives, Asia Pacific. He will manage multinational programmes and captive solutions, enhancing the region’s contribution to Zurich’s global network. Sean Walker, APAC Head of Commercial Insurance, highlighted Dylan’s understanding of complex commercial risks as vital for delivering effective solutions.

These appointments reflect Zurich’s commitment to building a leading commercial insurance business in Asia Pacific, addressing the region’s complex and interconnected risks.

AstaGuru, a digital-first auction house, has launched its new office and gallery in Singapore at Winsland House II, marking a significant expansion into Southeast Asia. The gallery opened following a launch event on 27 August at METT Singapore, aiming to serve as a hub for collectors, art enthusiasts, and the cultural community.

The inaugural exhibition, running until 23 October 2026, features Modern and Contemporary Indian art, showcasing works from the 1950s to the 2020s. Notable artists include S.H. Raza, M.F. Husain, Krishen Khanna, and Thota Vaikuntam. This exhibition offers a cross-generational perspective on Indian art, exploring themes of abstraction, figuration, and cultural identity.

AstaGuru’s expansion into Singapore follows its presence in Mumbai and London, enhancing its engagement with collectors and consignors in Southeast Asia. Aparna Batra, Chief Business Officer, stated, “Singapore was a natural next step for us. It is an important hub for collectors across Asia, with an appreciation for art, luxury, and cultural heritage.”

The Winsland House II gallery will provide personalised consultations, curated previews, and intimate gatherings, fostering deeper engagement with the art and its provenance. Managing Director Jillian Kwan expressed confidence in the local market, noting the “immediate and genuine connection with Singapore’s collectors.”

AstaGuru’s Singapore office aims to build a global community of collectors, offering greater access to art, stories, and cultural histories. The gallery is open by appointment, Monday to Friday, from 10am to 6pm.

The Singapore Business Federation (SBF) and the Indonesian Chamber of Commerce and Industry (KADIN) have reinforced their partnership to enhance cross-border trade opportunities for Indonesian small and medium-sized enterprises (SMEs). This renewed engagement follows a Memorandum of Understanding (MoU) signed at the Singapore-Indonesia Leaders’ Retreat on 6 July 2026.

The collaboration, led by SBF Chairman Mark Lee and KADIN’s Deputy for Coordination of Economic Cooperation and Investment, Dr Edi Prio Pambudi, focuses on three key areas: digital enablement, policy engagement, and capability building. A significant highlight is the introduction of the Trade AI Adviser (TAIA) Indonesia, the world’s first Generative AI-powered trade platform, designed to assist businesses in navigating trade requirements and identifying market opportunities.

Mark Lee emphasised the importance of the partnership, stating, “The Trade AI Adviser (TAIA) Indonesia is a demonstration of our successful partnership and a strong proof point of what inter-ASEAN business collaboration can achieve.” He added that such initiatives are crucial as Singapore prepares to chair ASEAN in 2027.

Anindya Bakrie, Chairman of KADIN, echoed this sentiment, highlighting the potential for deeper cooperation on sustainability and regional business connectivity. He noted, “This is the kind of practical collaboration that can help businesses in both countries grow and contribute to a stronger ASEAN.”

As both nations look towards ASEAN 2027, this partnership aims to translate high-level cooperation into tangible opportunities for businesses, particularly in sustainability and decarbonisation efforts.