Industry News

Ant International has announced a significant upgrade to its global wallet gateway, Alipay+, by integrating privacy enhancing technologies (PETs) across all critical operations. This development marks Alipay+ as the first digital payment solution to fully implement PETs in a live setting, offering enhanced data privacy for its 1.8 billion e-wallet users.

The application of PETs ensures that all data processed by Alipay+ is encrypted and remains unidentifiable throughout the payment process. This advancement supports compliance with data privacy regulations, maintains the continuity of cross-border transaction services, and reduces the risk associated with transmitting sensitive information. “Trust in our systems is integral to our ability to deliver secure and efficient digital services to users globally,” stated Jiang-Ming Yang, Chief Innovation Officer of Ant International.

Alipay+ partners are encouraged to adopt PETs, with Ant International planning to open source the PETs codebase in phases. This move aims to provide partners with full visibility and control over their data privacy implementations.

In collaboration with Singapore’s Personal Data Protection Commission (PDPC), Ant International has also developed a proof-of-concept for PETs-enabled AI prediction model training. This initiative demonstrates the company’s commitment to ensuring that emerging technologies are developed with trust and compliance at their core.

Ant International continues to support initiatives like the Infocomm Media Development Authority’s (IMDA) PET Sandbox, encouraging companies to explore new data opportunities without compromising sensitive information. The company is also partnering with Nanyang Technological University, Singapore, to advance research in trust technologies, further solidifying its role in pioneering secure digital payment solutions.

Kennedys has announced the appointment of Trevor Ho as a Partner in its Singapore office, effective April 2026. Ho, a specialist in Financial Lines, brings over 20 years of experience to the firm, having previously served as a Partner at Colin Biggers & Paisley. His expertise includes advising insurers on complex financial lines coverage issues and dispute resolution.

Anita Quy, Joint Managing Partner for Kennedys in Singapore, highlighted that Ho’s appointment aligns with the firm’s strategy of targeted growth driven by client demand in the Asia Pacific region. Ho expressed enthusiasm about his move to Singapore, stating, “I’m delighted to join a global specialist insurance law firm of Kennedys’ stature.”

Ho’s legal experience spans professional negligence, financial services compliance, and contractual disputes, among others. He has also assisted underwriters with policy drafting and interpretation. His addition to the team is expected to bolster Kennedys’ capabilities in delivering value to its clients across various insurance lines.

Kennedys has been operating in Singapore since 2008 and established a joint law venture with Legal Solutions in 2015, enhancing its service offerings. The firm has grown to over 80 lawyers and business service professionals in Singapore, including 11 partners. Recent expansions include the addition of marine and trade credit insurance specialist Iain Anderson.

The appointment of Ho underscores Kennedys’ commitment to strengthening its presence in the Asia Pacific region, particularly in financial lines, property, energy, and construction sectors.

The Singapore Institute of Technology (SIT) and DNV have announced a collaboration to develop a Master of Science in Vessel Management, with the Singapore Maritime Foundation (SMF) facilitating industry engagement. This initiative, unveiled during Singapore Maritime Week, aims to bolster Singapore’s maritime talent pipeline and reinforce its status as a leading international maritime centre.

The programme is tailored for engineering and naval architecture graduates, as well as maritime professionals seeking to transition into technical superintendent roles. It focuses on providing alternative pathways for those with technical or seafaring backgrounds to move into shore-based vessel management positions. The curriculum is designed to address the evolving needs of the maritime industry, particularly in light of digitalisation and the shift towards low and zero carbon fuels.

Dr Shahrin Osman, Business Development Director at DNV Maritime Advisory in Singapore, highlighted the programme’s relevance, stating, “Digitalisation and the transition to low and zero carbon fuels are reshaping the expectations of the maritime workforce. Through this programme, DNV and SIT aim to equip new entrants with the applied knowledge and practical competence needed as the industry transitions towards more digital and lower carbon operations.”

Professor Susanna Leong, Deputy President (Academic) & Provost at SIT, emphasised the university’s commitment to developing industry-ready talent, noting that the programme will help manage complex vessel operations and drive sustainable maritime practices.

The Master of Science in Vessel Management is set to commence in early 2027, offering a flexible, competency-based model that combines SIT’s applied learning with DNV’s industry expertise. This initiative is expected to enhance the supply of skilled superintendents within the Maritime Singapore ecosystem.

A new report by Delinea reveals that 95% of Singaporean organisations are under pressure to relax identity security measures to accommodate AI initiatives. This comes despite significant gaps in visibility and governance, as highlighted in the report titled “Uncovering the Hidden Risks of the AI Race.”

The report, based on a global survey of over 2,000 IT decision-makers, indicates a growing risk landscape as AI-driven automation increases the number of identities, particularly non-human identities (NHIs), within enterprise environments. In Singapore, 93% of respondents reported at least one identity visibility gap, with machine identities being the most affected.

Art Gilliland, CEO of Delinea, commented, “The pressure to move fast on AI is real, but identity governance has not kept pace, which exposes enterprises to significant risk.” The report also highlights that 86% of Singaporean organisations struggle to explain why an AI or machine identity performed a privileged action, underscoring challenges in traceability and accountability.

Despite these governance gaps, 87% of Singaporean respondents believe they are ready for AI adoption. However, 47% acknowledge deficiencies in their identity governance systems. This discrepancy points to an “AI security confidence paradox,” where perceived readiness does not match actual capabilities.

As AI agents increasingly access critical infrastructure and data, Delinea emphasises the need for robust identity discovery, privilege management, and activity auditing across human and machine identities. The company advocates for a unified approach to ensure secure AI-driven automation.

Dezign Format has reported an adjusted net profit of S$2.2m for the financial year 2025, marking a significant step in its strategic expansion across Southeast Asian markets. The company has signed a memorandum of understanding (MOU) with Hustle & Bustle Group, a homegrown edutainment firm, on 21 April 2026. This agreement includes Hustle & Bustle and its subsidiary, IMBA Global, and proposes an equity and potential cash investment to leverage long-term synergies.

The collaboration grants Dezign Format the Right of First Refusal as the preferred design and build provider for Hustle & Bustle and IMBA, ensuring a steady pipeline of future projects. Mike Chong, Executive Chairman and CEO of Dezign Format, stated, “Our collaboration with Hustle & Bustle at the IMBA Theatre has been a strong foundation for this deeper partnership. By investing at the parent level, we are making a deliberate move to align our long-term interests with a premier homegrown edutainment brand.”

This partnership is expected to bolster Dezign Format’s presence in the immersive location-based entertainment (LBE) sector, particularly with a permanent presence at the IMBA Theatre at Gardens by the Bay. The strategic move is anticipated to enhance the company’s growth trajectory and secure high-profile projects in the future.

As Dezign Format positions itself for growth, the collaboration with Hustle & Bustle is set to play a crucial role in expanding its footprint in the Southeast Asian market, aligning with its long-term business objectives.

FairPrice Group (FPG) has announced plans to expand its Store of Tomorrow (SOT) programme across its supermarket network by the end of 2026. This initiative, in collaboration with Google Cloud, aims to enhance the shopping experience through digital innovations such as smart shopping trolleys, digital price cards, and a hybrid retail format known as ShopBeyond.

Launched in June 2025, the SOT programme is committed to piloting 20 digital solutions annually to transform retail experiences for both customers and staff. The first physical Store of Tomorrow opened at Punggol Digital District in August 2025, serving as a testing ground for these innovations.

Group CEO Vipul Chawla emphasised the programme’s focus on using technology to simplify lives. “By bringing proven AI solutions from our Store of Tomorrow programme to more supermarkets across the island, we want to reimagine the shopping experience for our customers and remove the friction from their weekly grocery runs,” he stated.

The innovations include smart trolleys that offer personalised promotions and in-store navigation, digital price cards that provide real-time pricing, and the Grocer Genie app to streamline store operations. These solutions are expected to improve efficiency and customer satisfaction, with smart trolleys already reducing checkout times significantly.

Mark Micallef, Managing Director of Southeast Asia at Google Cloud, highlighted the programme’s success in achieving operational return on investment. “FairPrice Group’s Store of Tomorrow programme is a masterclass in how retailers can thoughtfully and strategically transcend enterprise AI pilots to achieve tangible value at scale,” he said.

The expansion of the SOT programme is set to reach 48 FairPrice outlets by the end of 2026, with plans for further rollout in subsequent years.

ETC has announced the launch of a collective sale for High Point, a freehold residential site at 30 Mount Elizabeth in Singapore’s prestigious District 9. The site, elevated above the Orchard Road corridor, is available via a public tender closing on 9 June 2026. The guide price is set at S$580m, translating to approximately S$2,641 per square foot per plot ratio, with no land betterment charge applicable.

The site spans 4,422.8 square metres and is zoned for residential use under the URA Master Plan 2025, allowing for a building height of up to 36 storeys. This offers potential for panoramic city views, making it an attractive proposition for developers. Swee Shou Fern, Head of Investment Advisory at ETC, highlighted the site’s appeal amidst a limited supply of new ultra-luxury freehold projects in the Orchard Road area. “Demand for trophy residential assets in Singapore has strengthened, supported by local and international ultra-high-net-worth individuals,” she noted.

The scarcity of new freehold opportunities in District 9 has been increasingly evident, with most new developments being leasehold. This positions 30 Mount Elizabeth as a prime opportunity for developers to create a benchmark ultra-luxury residential project. The location offers excellent connectivity, with proximity to Orchard and Somerset MRT stations and key destinations like the CBD and Changi Airport.

The launch comes as the ultra-luxury residential segment shows renewed momentum, with 17 homes priced at S$10m and above sold in Q1 2026, marking the highest quarterly sales volume since Q1 2025.

HSBC has announced the appointment of Desmond Kuang as Chief Investment Officer (CIO) for Asia, effective 6 July 2026. In his new role, Kuang will oversee the development of regional investment strategies across all asset classes for HSBC Private Bank and Premier Wealth clients, excluding Hong Kong. He will also continue to serve on the bank’s Global Investment Committee, which formulates asset allocation strategies.

Kuang brings two decades of experience in the banking sector, having held various leadership roles in asset management and investment research. He is currently the CIO for China and Interim Head of Wealth and Premier Solutions in China, positions he will maintain until successors are named.

Willem Sels, Global CIO of HSBC Private Bank and Premier Wealth, expressed enthusiasm about Kuang’s appointment, stating, “We are delighted to welcome Desmond as Chief Investment Officer, Asia. As wealth continues to grow rapidly in Asia, clients and investors are seeking timely and actionable investment insights to pursue their wealth goals. Desmond brings deep experience and rigour that will further strengthen our insights-led investment culture, an approach our clients have come to trust.”

Based in Singapore, Kuang will report to both Willem Sels and Ishan Sarkar, Head of Wealth and Premier Solutions, Singapore. This strategic appointment underscores HSBC’s commitment to enhancing its investment capabilities in the rapidly expanding Asian market.

Singapore-based space education and innovation company, OculloSpace, has announced a strategic partnership with Niantic Spatial, an American Artificial Intelligence firm, to bring advanced digital twin solutions to the maritime industry across Southeast Asia. This collaboration marks a significant step as OculloSpace becomes one of the first in Singapore to offer such high-precision capabilities for maritime applications.

The digital twin platform developed by OculloSpace integrates data from onboard IoT sensors to create dynamic, virtual replicas of ships and maritime environments. These replicas mirror real-world conditions in near real-time, allowing maritime operators to remotely monitor assets, run simulations, and analyse performance without disrupting actual operations. The technology provides centimetre-level precision, enabling predictive maintenance, operational optimisation, and scenario testing.

Dr Franco Gan, Founder and CEO of OculloSpace, highlighted the importance of this technology, stating, “By combining our capabilities with Niantic Spatial’s technology, we are bringing greater visibility and real-time intelligence to maritime operations.” He emphasised that digital twins offer operators the ability to monitor, simulate, and optimise their assets with far greater precision, thereby improving efficiency, enhancing safety, and supporting sustainable operations.

The partnership is expected to be particularly beneficial for shipyards, fleet operators, and port authorities aiming to enhance safety, efficiency, and training. Additionally, the platform supports training and workforce development by creating realistic training environments for crews and engineers.

OculloSpace is currently showcasing its innovations at the Singapore Maritime Week 2026, which runs until 23 April at Suntec Singapore Convention & Exhibition Centre. This annual event gathers the international maritime community to discuss key industry issues and exchange ideas.

Japan’s fastest-growing meal subscription service, Tsuklio, has officially launched in Singapore, marking its first international expansion. Operated by Tokyo-based Antway Inc., Tsuklio aims to use Singapore as a strategic hub for Southeast Asia, introducing a premium meal plan tailored for busy families. The service, which has already served over 30 million meals in Japan, offers a 4-serving, 3-meal-per-week plan priced at S$211.

Tsuklio’s central-kitchen model ensures meals are prepared daily under the supervision of registered dietitians, maintaining high nutritional and quality standards. The decision to enter the Singapore market follows a successful pilot in March 2025, which demonstrated strong demand despite the premium pricing. Singapore was chosen after extensive market validation, including studies and a test-marketing programme.

Antway Inc. plans to leverage Singapore as a launchpad for regional expansion, exploring partnerships and franchise opportunities, particularly with operators possessing central kitchen infrastructure. The franchise model has been successfully implemented in Japan across various industries, highlighting its adaptability.

Kei Maejima, CEO of Antway Inc., stated, “We aim to position Tsuklio to address the market gap between health-conscious meal kits and everyday dining needs of households in Singapore.” The expansion aligns with Antway’s mission to support busy dual-income families by reducing household meal obligations.

The company emphasises food safety and quality assurance, adhering to Singapore’s regulatory standards. Tsuklio’s entry into Singapore not only marks a significant milestone for the company but also aligns with the nation’s focus on workforce reskilling and upskilling, offering local employment opportunities.