Industry News

A recent poll by Prudential Singapore highlights a stark contrast in retirement readiness among Singapore’s generations. The SG60 Financial Future Poll, surveying 1,000 residents aged 17 to 76, found that whilst half of Gen Zs are optimistic about retiring well, 72% have no retirement plan in place. This optimism surpasses that of Millennials (45%) and Gen Xs (38%).

Gen Zs, aged 16 to 28, are focused on building multiple income streams and embracing flexible work arrangements, such as remote work and “micro-retirements.” Despite their confidence, many prefer to prioritise income growth before formalising retirement plans. Jeff Ang, CEO of Prudential Financial Advisers Singapore, emphasised the importance of early financial planning, stating, “Optimism and hustle are great, and when paired with financial planning, they will set you up for long-term success.”

In contrast, Baby Boomers, aged 55 and above, expressed regret over delayed financial planning. Nearly all Baby Boomers surveyed wished they had started planning 12 years earlier, at age 28 rather than 40. Their top regrets include not establishing financial habits sooner and missing earlier retirement opportunities.

The poll also revealed that Singaporeans across all age groups are concerned about the high cost of living, healthcare expenses, and insufficient income growth. CPF and bank savings emerged as the primary retirement funding sources, supplemented by stocks, bonds, and insurance policies.

As Singaporeans navigate these financial challenges, the poll underscores the need for a diversified wealth portfolio to ensure a secure retirement.
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The Singapore Business Federation’s (SBF) National Business Survey 2025 – Manpower and Wages Edition reveals a weakening business sentiment among Singaporean companies. The survey indicates that 35% of businesses expect conditions to worsen over the next 12 months, compared to only 14% anticipating improvement. The Business Sentiment Index (BSI) fell by 1.1 points from 56.5 in Q1 2025 to 55.4 in Q2 2025.

The survey highlights several key challenges. The impact of US tariff changes, whilst easing, still negatively affects 59% of businesses. Hiring plans have softened, with only 36% of companies intending to expand their full-time workforce in the coming year, a decrease from 40% in 2024. Larger companies remain more optimistic than small and medium enterprises (SMEs).

Wage growth is also expected to slow, with 59% of businesses planning salary increases, down from 64% in 2024. The proportion of companies intending to freeze wages has risen to 41%, primarily among SMEs. However, 66% of businesses plan to raise wages for lower-wage workers, aligning with the National Wages Council’s recommendations.

Talent development poses a significant challenge, with 47% of businesses citing upskilling and reskilling as concerns, nearly doubling from 25% in 2024. Rising manpower costs remain a top issue, although the proportion of businesses citing this has decreased from 75% to 65%.

The survey also notes that businesses welcome the removal of the maximum employment period for foreign workers, though increases in S pass qualifying salaries are a concern. Companies are adjusting their strategies, including expanding local recruitment and increasing wages to attract local talent.

As Singapore businesses navigate these challenges, the survey underscores the need for strategic adjustments in workforce management and policy adaptation to maintain competitiveness in a fluctuating economic landscape.
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Alo Yoga, the globally acclaimed fashion and lifestyle brand, has launched its first store in Singapore at the iconic Marina Bay Sands. This marks a significant step in Alo’s expansion across Asia, following the opening of its flagship store in Seoul in July 2025. The Singapore store, spanning 3,030 square feet, is designed with Alo’s signature modern minimalism, featuring warm oak finishes, ambient lighting, and curated greenery to create a serene urban sanctuary.

The Marina Bay Sands location offers a comprehensive range of men’s, women’s, and unisex apparel, accessories, and footwear. Notably, the store introduces Alo’s complete Wellness System, a collection of clean beauty formulas for skin, face, and hair, exclusive to the Asia market. This addition aims to enhance the modern wellness journey for customers.

Founded in Los Angeles, Alo Yoga has garnered a global following with its studio-to-street performance wear, blending technical excellence with contemporary fashion. The brand is popular among wellness enthusiasts and celebrities, offering a curated collection of elevated performance and lifestyle apparel designed to inspire mindful movement and modern living.
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CapitaLand Ascott Trust (CLAS) has announced the acquisition of three freehold rental housing properties in Japan for JPY4b($34.2m). The properties, located in Osaka and Kyoto, are expected to bolster CLAS’ stable income stream and portfolio resilience. This strategic move aligns with CLAS’ portfolio reconstitution strategy, funded by the divestment of Citadines Karasuma-Gojo Kyoto and JPY-denominated debt.

The acquisition is projected to yield a net operating income (NOI) entry yield of 4% in FY 2025, significantly higher than the 0.4% NOI exit yield from the divested property. Serena Teo, CEO of CapitaLand Ascott Trust Management Limited, stated, “The acquisition demonstrates CLAS’ ability to reconstitute our portfolio by redeploying divestment proceeds into higher-yielding assets, further enhancing CLAS’ portfolio and the quality of our earnings.”

The properties, built about five years ago, boast an average occupancy rate of 97% and are located in prime areas with expanding economic opportunities. Post-acquisition, CLAS’ Japanese properties will account for 17.7% of its total portfolio value, enabling the trust to capitalise on Japan’s strong lodging demand whilst maintaining a geographically diverse portfolio.

CLAS aims to increase its allocation towards living sector assets to 25% to 30% in the medium term. The acquisition follows CLAS’ earlier purchase of two hotels in Tokyo and Kanazawa, positioning the trust to benefit from growing travel demand.
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Climate Bridge International (CBI), headquartered in Singapore, and the Rwanda Development Board (RDB) have signed a Memorandum of Understanding (MoU) to advance carbon market development in Rwanda. This collaboration aims to mobilise private finance and knowledge sharing to support Rwanda’s climate and development goals, building on the Rwanda–Singapore Article 6.2 Implementation Agreement signed in May 2025.

The partnership will focus on developing a pipeline of Article 6-aligned carbon credit projects, enhancing Rwanda’s policy and regulatory frameworks for carbon market participation. Alvin Lim, CEO of CBI, stated, “This MoU comes at exactly the right time, as Rwanda and Singapore move to operationalise their Article 6.2 agreement. Together with the Rwanda Development Board, we will build a pipeline of high-integrity, investable projects and provide international market access for local opportunities.”

Michelle Urumungi, Chief Investment Officer at RDB, emphasised Rwanda’s commitment to a low-carbon, climate-resilient economy. She noted, “Through our collaboration with Climate Bridge International, we look forward to attracting new investments, building local capacity, and accelerating progress towards our national climate and development goals.”

Over the next year, CBI and RDB will work to expand Rwanda’s pipeline of investable carbon projects, facilitating exchanges with local companies to strengthen market readiness. The partnership will also support government institutions through capacity-building and policy development, establishing a robust framework for carbon markets.

Both organisations anticipate strong demand for high-integrity, Article 6-aligned credits from governments, compliance buyers, and corporates seeking solutions that deliver measurable climate and community benefits.
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Xtend, a prominent commerce media platform, has introduced a new marketplace-first ecommerce solution aimed at boosting brand visibility and conversions across Southeast Asia’s leading marketplaces, including Shopee and Lazada. This innovative solution, announced on 27 August 2025, is designed to address the challenges faced by brands in the region’s ecommerce and performance marketing landscape by enhancing in-platform visibility and connecting with high-intent shoppers.

The Southeast Asia ecommerce market is projected to grow at a compound annual growth rate of 8.79% from 2025 to 2029, reaching an estimated market volume of $187.16 billion by 2029. Despite the dominance of Meta and Google in digital ad budgets, rising costs and audience saturation are limiting returns. Xtend’s solution is tailored for this environment, aligning with category behaviour and user intent patterns unique to each platform.

The solution offers several capabilities, including SHOPit Brand Discovery, which drives traffic to brand pages, and commerce-backed inventory that integrates dynamic listings and brand showcases. It also provides marketplace measurement for end-to-end attribution and leverages first-party data for actionable commerce signals. A performance-based model aligns pricing with results, offering a low-risk option for major campaigns. The solution’s effectiveness was demonstrated in a recent campaign with Unilever in Indonesia, achieving a positive Return on Ad Spend (ROAS).

Showcased at the Shopee Super Summit in Indonesia, Xtend’s solution was presented as a tool to help brands grow within and beyond marketplace advertising. Muralidharan, Chief Commercial Officer at Xtend, stated, “By leveraging real shopping behaviour data, we designed this solution to help brands build stronger influence within the platform ecosystem and translate it into sustainable business growth.”
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Singapore-based Gill Capital Group, a prominent retail brand manager in Southeast Asia, has announced a partnership with Google Cloud to launch a generative AI solution aimed at improving e-commerce search and product discovery. This initiative seeks to address the common frustration of ineffective search bars that fail to understand shopper intent, often resulting in lost sales opportunities.

The collaboration introduces a next-generation search and conversational experience that goes beyond traditional keyword-matching. Through Google Cloud’s AI Cloud Takeoff programme, Gill Capital has integrated a generative AI-powered search agent into e-commerce platforms for H&M in Indonesia and Thailand. This AI agent, built using Vertex AI Search for Commerce, can understand the true intent behind search queries, even when typos are present, by focusing on the meaning of words rather than just keywords.

Additionally, Gill Capital is incorporating a conversational agent into these platforms, serving as a virtual shopping assistant. This agent offers personalised product recommendations and assists with complex tasks, such as checking stock availability at nearby H&M stores, thereby bridging the gap between digital and physical shopping experiences.

Victor Siow, Group Chief Data and Analytics Officer at Gill Capital, highlighted the strategic advantage of using Google Cloud’s technology, stating, “With Google Cloud, we’re utilising the same underlying components that power Google Search today to gain a competitive edge.”

Following successful pilot tests, Gill Capital plans to expand these solutions for H&M Indonesia and Thailand later this year. The initiative is part of a broader AI strategy to enhance retail experiences and explore new applications in areas like supply chain optimisation.
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Token2049, the world’s largest crypto event, is set to break records with its upcoming edition in Singapore, welcoming 25,000 attendees from over 160 countries on 12 October 2025 at Marina Bay Sands. The event will feature over 500 exhibitors and a lineup of prominent speakers, including Eric Trump, Donald Trump Jr., and Vlad Tenev, among others.

With unprecedented demand, Token2049 is entering its final ticket sales phase, with prices increasing to $599 on 29 August. Organisers anticipate an early sell-out. New additions this year include the debut of the Token2049 Origins Hackathon and the second edition of the NEXUS Web3 start-up competition, held in collaboration with venture investors like Dragonfly and Pantera.

The event will transform Marina Bay Sands into a dynamic pop-up city, offering a festival-style experience with activities such as rock climbing, ziplining, and live performances. Alex Fiskum, co-founder of Token2049, expressed excitement for the event, stating, “This will be our most ambitious edition yet, with the global crypto community converging in Singapore.”

Token2049 Singapore will serve as a global stage for the industry’s leading companies and projects, with title sponsors including OKX, Coinbase, and TRON. The event will culminate with the Formula 1 Grand Prix weekend, further solidifying its status as a major international industry gathering.
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Singapore-based Global Esports Federation (GEF) has inaugurated its Innovation & Research Centre (IRC) in Athens, Greece, in partnership with Socialinnov, a non-profit organisation focused on digital empowerment and social entrepreneurship. This initiative, announced on 27 August 2025, seeks to integrate esports with education, wellness, and opportunities in related industries.

The Athens IRC is set to be a pivotal part of GEF’s global network, fostering collaboration across regions and expanding opportunities in esports, gaming, technology, and entertainment. Thanos Karagrounas, GEF Chief Impact Officer, highlighted the centre’s role as a “milestone in the GEF’s journey to shape an inclusive and impactful future for esports.” He emphasised the collaboration with Socialinnov to unlock new avenues for innovation, education, and investment.

Stella Psarrou, Director of Socialinnov, expressed pride in partnering with GEF, stating, “Together, we will cultivate new pathways for youth, educators, and entrepreneurs to engage with technology, esports, and innovation on a global scale.”

The Athens IRC will leverage Greece’s burgeoning digital ecosystem and Socialinnov’s expertise to develop strategies and programmes focused on responsible gaming, holistic wellness, and sustainable career pathways. This initiative aims to empower individuals and communities with the skills needed to thrive in the digital age.

The GEF is committed to enhancing the credibility and prestige of esports, uniting various stakeholders on a single platform. Through its global initiatives, GEF continues to drive positive change in the esports community.
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The London School of Business and Finance (LSBF) Singapore Campus has partnered with the Institute of Valuers and Appraisers, Singapore (IVAS) to launch the Chartered Valuer and Appraiser (CVA) Programme in Malaysia and India. This marks the first time LSBF will offer the CVA Programme outside Singapore, aiming to enhance professional standards in valuation across these burgeoning markets.

The partnership was formalised during the IVAS-IVSC Business Valuation Conference 2025, attended by notable figures such as Indranee Rajah, Minister in the Prime Minister’s Office, and Chia-Tern Huey Min, Chief Executive of the Accounting and Corporate Regulatory Authority. The initiative seeks to provide finance professionals, corporate leaders, and valuation specialists in Malaysia and India with access to a globally recognised qualification.

Rathakrishnan Govind, CEO of LSBF Global, emphasised the importance of valuation in today’s business environment, stating, “By bringing the CVA Programme to Malaysia and India, we are giving professionals direct access to world-class training that enhances their expertise and credibility on the global stage.” Lie Kok Keong, Chairperson of the IVAS Council, added, “This collaboration will strengthen business valuation standards and practices across the region.”

Founded in 2003, LSBF serves over 25,000 students globally and has been recognised for its future-focused approach to education. The expansion of the CVA Programme aligns with LSBF’s mission to broaden educational opportunities across Asia, contributing to economic growth by building talent in key sectors.
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