Industry News

The land betterment charges (LBC) for September 2025 have seen an average increase of 0.7% for the B2 (non-landed) use group, according to Huttons Asia. This adjustment comes amidst a backdrop of renewed optimism in the property market, driven by Singapore’s stronger-than-expected economic performance in the first half of 2025 and lower interest rates.

The most significant increases in LBC were observed in sectors 96, 89, and 90, with rises of 15.4%, 12.1%, and 12.1% respectively. The property market’s buoyancy has been reflected in robust sales at recent launches, prompting developers to actively replenish their land banks. This has resulted in intensified competition in Government Land Sales (GLS) tenders, with more bidders participating than the usual three, leading to higher bids.

For Group B1 (landed) properties, the LBC rose by an average of 0.4%, attributed to a surge in high-value transactions in the Good Class Bungalow (GCB) market. Notably, 11 GCB deals were recorded in the second quarter of 2025, compared to just two in the first quarter. The largest transaction was a GCB in Caldecott Hill Estate, sold for $58 million (£58 million) to parties linked to the founders of the Koufu Group.

Looking ahead, developers are expected to remain active in GLS tenders, with sites at Chencharu Close, Hougang Central, Telok Blangah Road, and Tanjong Rhu Road anticipated to attract competitive bids. This could potentially lead to higher LBC rates in future reviews.
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Debtox has announced a strategic collaboration with The Silver Lining, a nonprofit organisation, to revolutionise debt resolution in Singapore. This partnership aims to provide a comprehensive approach to debt management by integrating financial restructuring with support for behavioural issues like compulsive spending and gambling addiction.

Debtox, known for its ethical and transparent debt management services, will work alongside The Silver Lining to offer clients a dual-faceted support system. This includes emotional recovery programmes and practical financial solutions such as the Debt Repayment Scheme (DRS) or bankruptcy applications. Clients will benefit from personalised debt repayment plans that align with their long-term recovery goals.

The collaboration is unique in its holistic approach, recognising that financial recovery involves more than just numbers. By addressing both financial and behavioural health, Debtox and The Silver Lining aim to empower individuals to rebuild their lives comprehensively. This model ensures that clients receive assistance tailored to their unique circumstances, including debt restructuring and consolidated debt management options.

This partnership aligns with the Ministry of Law’s recent initiatives to enhance the integrity of the DRS and prevent unethical debt consultancy practices. Both organisations support these measures, aiming to build trust and safeguard the scheme’s intent. The collaboration is designed to work within the Ministry’s framework, ensuring each case is handled with empathy and understanding.

Debtox and The Silver Lining are committed to setting a new standard for responsible debt assistance in Singapore, focusing on breaking cycles of debt, shame, and isolation. Through expert financial guidance and compassionate recovery support, they hope to redefine ethical debt resolution as a people-centred endeavour.
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Hennessy has brought its exclusive “Hennessy Paradis” experience to Singapore this August, offering a select group of invitees a rare glimpse into the creation of the Maison’s most exceptional blend. The event, designed to engage the senses, combined sound, scent, taste, and storytelling in a distraction-free environment, tailored for those who truly appreciate the rare and remarkable.

The evening commenced with a guided masterclass, allowing guests to delve into the craftsmanship of the Maison in an intimate setting. This was further enhanced by La Chambre du Hennessy, which showcased a captivating array of limited editions and rare expressions. Amongst the highlights were the Hennessy Paradis Unlimited, Hennessy Paradis X Lorenz Bäumer NBA 3L, Hennessy Paradis Gold Edition, and the Hennessy Paradis Chinese New Year editions for 2023, 2024, and 2025. Additionally, the event featured the much-coveted Hennessy Paradis x LOEWE 3L collaboration.

This exclusive showcase not only highlighted the Maison’s dedication to excellence but also offered a unique opportunity for connoisseurs to experience the depth and complexity of Hennessy’s finest blends. As the event concluded, it left attendees with a deeper appreciation for the artistry and tradition behind one of the world’s most revered cognacs.
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Tesla has officially launched the Model 3 Long Range Rear-Wheel Drive in Singapore, boasting an impressive range of up to 691km on a single charge. This new trim, unveiled on 29 August 2025, offers the longest range among Tesla vehicles available in the country, optimised for efficiency with a drag coefficient of 0.22Cd and achieving 13.6km/kWh.

The introduction of the Model 3 Long Range Rear-Wheel Drive is part of Tesla’s ongoing efforts to enhance its offerings in Singapore. The vehicle is priced from $102,215 without a Certificate of Entitlement (COE) and from $226,615 with a Category B COE, based on the 20 August 2025 bidding exercise. Additionally, all Tesla vehicles, including this new model, qualify for the EV Early Adoption Incentive and Vehicular Emission Schemes, providing a rebate of up to $40,000.

Tesla continues to expand its Supercharging Network in Singapore, with the latest station at Westgate Shopping Centre featuring four V4 Supercharging Stalls. These stalls provide a peak charging rate of 250kWh, allowing the Model 3 Long Range to gain up to 282km of range in just 15 minutes. Furthermore, Tesla’s Home Charging Programme offers new owners a complimentary Tesla Wall Connector, valued at $790, along with a two-year warranty and a one-time charger maintenance service.

The Model 3 Long Range Rear-Wheel Drive can be experienced at the Tesla Experience Centre in Singapore. For more updates, Tesla encourages following their official social media channels.
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The Singapore Computer Society (SCS), in collaboration with SkillsFuture Singapore (SSG) and the Infocomm Media Development Authority (IMDA), has unveiled a new Skills Pathway for Cloud. Launched at the Tech³ Forum at the Ritz-Carlton, Millenia Singapore, this initiative is designed to address the growing need for cloud expertise in Singapore’s rapidly evolving technology landscape. The programme offers industry-relevant training and certifications, targeting both new entrants and mid-career professionals, to enhance their career prospects in the tech sector.

The Skills Pathway for Cloud is structured into two levels, preparing individuals for roles such as Cloud Infrastructure Engineer and Cloud Solution Architect. Participants can gain industry-recognised certifications and access internship and job opportunities with key employers, including DBS and ST Engineering. Edward Chen, Chairman of SCS Skills Pathway, highlighted the initiative’s role in bridging the gap between stakeholders and shaping talent development strategies aligned with workforce needs.

This marks the second Skills Pathway developed by SCS, following the successful launch of the Skills Pathway for Cybersecurity in July 2024. The earlier programme saw over 180 individuals secure internships or employment, demonstrating the demand for job-relevant training. The new cloud pathway is expected to further strengthen Singapore’s digital workforce, with tech jobs in the country having grown from 172,000 in 2019 to 214,000 in 2024, according to IMDA.
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MariBank has unveiled new security measures aimed at protecting customers from sophisticated phishing scams targeting digital wallets. The bank’s latest initiatives, announced on 29 August 2025, include in-app verification and a Money Lock feature, designed to enhance fraud protection for cardholders.

Phishing scams have become a growing concern in Singapore, with the Singapore Police Force reporting a significant increase in such incidents in 2024, resulting in losses of at least $59.4m. Scammers often use fake e-commerce sites and phishing links to deceive victims into revealing their card details and One-Time Passwords (OTPs).

To counter these threats, MariBank’s in-app verification introduces an additional step after the SMS OTP. This “cognitive break” involves a clear in-app message alerting customers that they are linking their card to a specific digital wallet and device, rather than completing a payment. This step aims to disrupt the scammer’s illusion and prevent unauthorised card linking.

Additionally, the Money Lock feature empowers customers to safeguard their funds from unauthorised transactions. Customers can lock any amount, starting from SGD 0.01, and funds under Money Lock will continue to accrue interest. Unlocking funds requires Singpass facial verification and a 12-hour cooling period, ensuring an added layer of security.

These measures reflect MariBank’s commitment to addressing the evolving landscape of digital threats. As phishing scams become increasingly sophisticated, the bank’s proactive approach aims to provide customers with the necessary tools to protect their financial assets.
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Canon Singapore, in collaboration with the National Library Board (NLB), has expanded its Cartridge Recycling Programme, initially launched in 2024. The initiative, which began with five libraries, now includes 10 additional drop-off points nationwide, enhancing accessibility for Singapore residents to recycle used ink and toner cartridges responsibly.

The expansion coincides with the launch of the “Inkfinity” Green Pledge, a community-driven campaign encouraging Singaporeans to engage in eco-friendly practices. Running from 29 August to 14 November 2025, participants are invited to photograph themselves with recycling bins, make a personal eco-friendly pledge, and share it on Instagram using the hashtag #InkfinityGreenPledge.

This initiative aims to galvanise public commitment to sustainability, aligning with Singapore’s Zero Waste Masterplan. With the national recycling rate at 50%, Canon Singapore seeks to play a pivotal role in improving these figures. The collected cartridges will be processed at a licensed facility, where materials will be recycled or converted into energy.

Andrew Koh, Senior Vice President of Canon Singapore, emphasised the broader impact of the programme, stating, “This partnership with NLB is much more than a recycling initiative but a conscious collective nationwide sustainability movement.”

NLB’s Chief Sustainability Officer, Eric Chin, highlighted the programme’s success, noting, “This initiative fills a gap in the recycling ecosystem, so we are pleased to strengthen our partnership with Canon Singapore by expanding this initiative to more libraries across Singapore.”

The programme’s expansion reflects a significant step towards fostering a sustainable future in Singapore, encouraging residents to contribute actively to environmental conservation.
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Aktivo Labs, a Singapore-based digital health science company, has announced a strategic partnership with Lifecheq, South Africa’s leading adviser enablement platform. This alliance aims to create a unified global platform that addresses physical, mental, and financial well-being, whilst unlocking new distribution opportunities for insurers and enterprises worldwide.

The partnership leverages Aktivo Labs’ digital biomarker, the Aktivo Score, which quantifies health risks using real-time data from wearables and smartphones. This technology supports personalised premium discounts and customer retention for health and critical illness products. By integrating with Lifecheq’s financial advisory platform, the collaboration offers a B2B2C solution that enhances the ability of financial consultants and advisers to engage clients in meaningful, context-based conversations about insurance and investment.

Key benefits of the partnership include a holistic wellness portfolio that extends beyond physical health to include financial wellness, data-driven insights for personalised product development, and a scalable global reach. Lifecheq’s proven distribution impact in South Africa, which has seen insurers grow Gross Written Premium by up to 80%, is now available to Aktivo’s global partners.

Gourab Mukherjee, CEO of Aktivo Labs, stated, “Our partnership with Lifecheq ensures that customers have a comprehensive approach to well-being, incorporating insurance purchase seamlessly.” Abu Addae, CEO of Lifecheq, added, “This alliance empowers advisers with intelligent tools and ensures customers experience insurance and financial wellness as genuinely valuable.”

The partnership is set to transform the global insurance and wellness ecosystem, combining Aktivo’s digital health scoring with Lifecheq’s financial behaviour analytics to deliver enhanced customer engagement and satisfaction.
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The International Centre for Settlement of Investment Disputes (ICSID) is set to open its first branch outside its Washington, DC headquarters in Singapore. This new office, located at the World Bank Group Singapore headquarters at 10 Marina Boulevard, will administer cases, provide training, and enhance interactions with government officials, law practitioners, and organisations in Singapore and the surrounding region.

The establishment of the ICSID branch in Singapore is a significant development in the field of international investment dispute resolution. It reflects the increasing importance of Singapore as a hub for legal and financial services in Asia. The office aims to bolster the capacity-building efforts and provide more accessible services to stakeholders in the region.

The decision to open a branch in Singapore underscores the city’s strategic position in the global legal landscape. By situating the office in Singapore, ICSID aims to facilitate greater engagement with regional stakeholders and enhance the efficiency of its operations in Asia. The office will also maintain satellite premises at Maxwell Chamber Suites, further expanding its reach and accessibility.

This move is expected to strengthen Singapore’s reputation as a leading centre for international arbitration and dispute resolution, offering new opportunities for collaboration and growth in the legal sector. As the office becomes operational, it will likely attract more international cases to Singapore, reinforcing its status as a key player in the global legal arena.
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The Singapore Department of Statistics has reported a mixed performance in its latest price indices for July 2025. The Import Price Index rose by 0.5% compared to June 2025, whilst the Export Price Index, Singapore Manufactured Products Price Index, and Domestic Supply Price Index each fell by 0.5%, 0.9%, and 0.5% respectively. Excluding oil, the declines were more pronounced, with the Export, Singapore Manufactured Products, and Domestic Supply Price indices dropping by 0.8%, 1.3%, and 1.1% respectively, whilst the Import Price Index saw a smaller rise of 0.3%.

These indices are crucial as they reflect the cost changes in goods that Singapore imports and exports, influencing trade balances and economic planning. The rise in import prices suggests increased costs for goods entering the country, which could impact consumer prices and inflation. Conversely, the decline in export prices may affect the competitiveness of Singaporean goods in the global market.

Detailed statistics are available in the Monthly Import and Export Price Indices and the Monthly Singapore Manufactured Products and Domestic Supply Price Indices, accessible via the SingStat Table Builder. The Department has also enhanced its SingStat Mobile App with new features, encouraging users to update or download the app for the latest statistical insights. For more updates, the Department invites the public to follow their Instagram account, @singstat_dos, for bite-sized statistical information.
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