Industry News

A recent survey conducted by KPMG, the National Youth Council (NYC), and the Institute of Public Relations of Singapore (IPRS) reveals that a significant number of youths are seeking support in career planning and skill development. The findings, shared at the Gen2050 Youth Action Forum, indicate that 65% of youths require more guidance in career planning, whilst 58% need assistance with financial planning.

The survey, which gathered responses from 1,000 youths, underscores the importance of communication, adaptability, and analytical skills in the future workforce. Communication and interpersonal skills were identified as crucial by 33% of respondents, followed by adaptability and lifelong learning (32%), and analytical and critical thinking (31%).

The Gen2050 Youth Action Forum, a milestone event under the Gen2050 programme, aims to engage youths in discussions about global developments and their impact on future careers. The forum featured interactive booths and panel dialogues, including insights from Dinesh Vasu Dash, Minister of State for the Ministry of Culture, Community and Youth, and the Ministry of Manpower.

The programme, a collaboration between public, private, and people sectors, seeks to empower youths through mentorship and industry insights. “Platforms like Gen2050 connect youths with industry leaders and policymakers,” said David Chua, CEO of NYC. Ross Gan, President of IPRS, added, “It’s encouraging to see youth prioritising communication skills as key competencies.”

The Gen2050 initiative is part of the SG Youth Plan, a five-year action plan to address youths’ aspirations and concerns, aiming to equip them for the future of work.

The World Robot Olympiad (WRO) International Final 2025 commenced on Wednesday at the Marina Bay Sands Expo and Convention Centre in Singapore. This year’s theme, “The Future of Robots,” encourages young innovators to explore how robotics can address global challenges in areas such as sustainability, health, and accessibility. Nearly 600 teams are competing across four categories: RoboMission, RoboSports, Future Innovators, and Future Engineers.

The competition, which concludes on 28 November, has seen a significant rise in participation, with a 14% increase in official teams from 24,577 in 2024 to 27,920 in 2025. This growth reaches 20% when including starter projects aimed at making robotics and STEM education more accessible. Claus Ditlev Christensen, Secretary General of the World Robot Olympiad Association, noted, “Robotics education is about fostering the next generation of innovators and problem-solvers.”

Singapore, the birthplace of the WRO, is proud to host the International Final, reinforcing its status as a hub for innovation and STEM education. Lynette Tan, CEO of Space Faculty, the national organiser for the WRO in Singapore, stated, “Seeing the championship return to the birthplace of WRO marks a full-circle moment for us.”

The event also features “Expand Space,” a zone focused on future-oriented ideas and partnerships in space, robotics, and AI. The closing ceremony will announce the winners and the host country for the 2026 WRO International Final.

The Singapore Eye Research Institute (SERI) and Santen Pharmaceutical Co., Ltd. have announced the launch of the Santen-SERI Open Innovation Centre (SONIC) 2.0, a collaborative initiative to advance disease-modifying therapies for vision-threatening eye diseases. This next-generation research collaboration seeks to combine Santen’s pharmaceutical expertise with SERI’s clinical and translational research capabilities.

Building on the success of their previous collaboration, SONIC 1.0, which was a S$37m partnership from 2017 to 2023, SONIC 2.0 aims to accelerate the development of first-in-class treatments for major eye diseases. The initiative underscores the long-standing strategic partnership between SERI and Santen, which began in 2014.

The official launch event is scheduled for 3 December 2025 at the Singapore National Eye Centre. The programme will include a welcome address by Jodhbir Mehta, Executive Director of SERI, and a presentation by Aung Tin, CEO of the Singapore National Eye Centre and Principal Investigator for SONIC 2.0. Rie Nakajima, Director of the Board and Chief Operating Officer of Santen, will also deliver a speech.

The event will culminate in a signing ceremony between SERI and Santen, followed by media interviews with key figures from both organisations. This collaboration is expected to significantly impact the development of innovative treatments for eye diseases, potentially improving outcomes for patients worldwide.

Worldpay’s latest research indicates that nearly half of Singapore consumers are prepared to let artificial intelligence (AI) agents handle their shopping, particularly for finding the best deals. The study, released ahead of Black Friday, forecasts that shopping through AI agents could reach $2.6b (S$3.6b) by 2030 in Singapore. The primary motivation for 75% of respondents is cost savings.

The research highlights that 39% of Singapore consumers are comfortable with AI agents operating under pre-set rules, whilst 12% prefer minimal control. AI agents are expected to become popular shopping companions, learning consumer preferences over time to make independent purchases. Phil Pomford, General Manager, APAC, Worldpay, commented, “Agentic commerce is the next evolution for online shopping. AI agents will play a growing role in guiding customers by offering a personalised service with speed and convenience at its core.”

AI agents are not only considered for everyday items like groceries, with 78% of consumers willing to use them for such purchases, but also for high-demand items like concert tickets. One in five consumers would trust an AI agent to spend up to $620 (SGD850) on tickets, demonstrating confidence in AI’s ability to act quickly and securely.

Despite the growing interest, concerns about fraud remain significant, with 63% of consumers requiring strong safeguards before allowing AI agents to shop on their behalf. Worldpay is working to ensure these new shopping methods are safe and transparent, helping retailers connect with trusted AI platforms.

Grand Hotel Group, a subsidiary of SGX-listed Tuan Sing Holdings Ltd, has unveiled The Langley, a new flagship development in Perth’s riverside precinct. The Langley integrates Residence on Langley Park, 18 Terrace Road, and Shoppe on Langley under a single identity, creating a landmark destination that blends accommodation, hospitality, business, and leisure.

The Langley, managed by Grand Hotel Group, is set to redefine urban experiences in Western Australia. “With The Langley, we are redefining riverside precincts in Perth,” said William Liem, CEO of Tuan Sing Holdings. The development aims to enhance Perth’s appeal as a tourism destination by showcasing the city’s riverside lifestyle.

Residence on Langley Park offers 367 rooms and suites, complemented by leisure facilities such as a heated outdoor pool, sauna, and gym. In early 2025, 51 rooms were converted into serviced flats, with further upgrades planned for 2026, including pickleball courts.

The commercial precinct, 18 Terrace Road, provides 14,800 square metres of office space with panoramic views of Langley Park and the Swan River. It caters to a range of tenants, including corporates, healthcare, and government sectors.

Shoppe on Langley Park, under a 23-metre-high translucent canopy, features a mix of retail, dining, and fitness services, establishing it as East Perth’s vibrant retail hub. The precinct is strategically located near the Perth CBD, offering easy access to major attractions and public transport.

“The Langley is more than a development; it’s a catalyst for Perth’s riverside lifestyle,” Liem added, highlighting its role in supporting business growth and community engagement.

UltraGreen.ai, a leader in fluorescence-guided surgery (FGS), has announced its initial public offering (IPO) on the Singapore Exchange (SGX) Mainboard, aiming to raise over $400m. The company, known for its AI-driven fluorescence imaging solutions, registered its prospectus with the Monetary Authority of Singapore on 26 November 2025. The IPO offers investors a chance to engage with a pioneering firm in the FGS sector, which is expanding its reach, particularly in Asia.

The offering includes 112,068,200 shares priced at $1.45 each, with a Singapore Public Offering Price of S$1.892 per share. UltraGreen.ai has secured commitments from 16 cornerstone investors, contributing $237.5 million. The public offer in Singapore is set to open on 26 November and close on 1 December, with trading expected to commence on 3 December.

UltraGreen.ai’s flagship product, IC-GREEN®, is widely used in FGS procedures, supported by extensive clinical research. The company plans to use the proceeds from the IPO to invest in its core products, expand geographically, and support general corporate purposes. CEO Ravi Sajwan highlighted the company’s strategic expansion from Singapore to capture growth in Asia, aiming to transform surgical procedures globally with enhanced precision and reduced healthcare costs.

Chairman Kwa Chong Seng emphasised the company’s strong growth and strategic market positioning, noting its robust financial performance, including a 59.3% revenue increase in FY2024. The IPO is underwritten by Citigroup Global Markets Singapore and DBS Bank.

Singapore’s banks are emerging as early movers in Asia’s protein transition, according to a new benchmark released by Asia Research & Engagement (ARE). The report, titled “Banking Asia’s Protein Transition: Financing the Shift Towards Responsible and Sustainable Food and Agriculture Systems,” evaluates 24 major banks across Southeast Asia and India. It highlights Singapore’s DBS, UOB, and OCBC for their responsible-lending frameworks and deforestation-exclusion principles, though none have set measurable financing targets for plant-based proteins or other sustainable initiatives.

The benchmark underscores the importance of aligning food and agriculture lending with climate and nature targets. Kate Blaszak, ARE’s Director of Protein Transition, stated, “This benchmark provides a constructive starting point for banks to build understanding of intersectional risks in this critical sector.”

Whilst Singaporean banks have made strides, the report identifies significant gaps in sustainable finance. It calls for enhanced transparency and increased support for plant-based proteins, humane production, and deforestation-free supply chains. The report also notes that banks in Malaysia, Thailand, Indonesia, the Philippines, and India are at varying stages of integrating sustainability into their frameworks.

ARE emphasises the potential for banks to drive sustainable food production by adopting comprehensive responsible lending frameworks. Blaszak added, “Banks that act early can reduce systemic risks and unlock new sources of value.” The report suggests that by learning from regional peers and international models, Asian banks can play a pivotal role in the protein transition.

Air Liquide Singapore and Aster Chemicals and Energy Pte. Ltd. have signed a Memorandum of Understanding (MOU) to develop an Auto Thermal Reformer (ATR) unit for low-carbon hydrogen production in Singapore. This collaboration aims to integrate carbon capture technology, enhancing energy efficiency and supporting Singapore’s goal of achieving net-zero emissions by 2050.

The partnership will leverage Air Liquide’s expertise in autothermal reforming technology and Aster’s refining-petrochemical infrastructure. The companies will assess the ATR’s technical and commercial potential, aligning with Singapore’s national hydrogen strategy. The ATR process, combined with carbon capture, promises a carbon capture rate of up to 99%, contributing to the decarbonisation of Singapore’s energy and chemicals sector.

Tina Loke, CEO of Air Liquide Singapore, stated, “Air Liquide is proud to partner with Aster on this crucial initiative, which aligns with its global strategy to actively accelerate the development of a low-carbon society.” Erwin Ciputra, Group CEO of Aster, added, “By partnering with Air Liquide, we seek to harness advanced ATR technology to supply low carbon hydrogen that strengthens the efficiency and reliability of our integrated infrastructure.”

This initiative is part of Singapore’s broader commitment to diversifying its energy mix and building a resilient low-carbon economy. The collaboration between Air Liquide and Aster is expected to play a significant role in reducing emissions in hard-to-abate sectors, paving the way for a sustainable energy future in Singapore.

The Urban Redevelopment Authority has announced the launch of land tenders for three sites at Dairy Farm Walk, Dover Drive, and Tanjong Rhu Road, as part of the second half of 2025 Government Land Sales programme. These sites are expected to yield approximately 480, 625, and 525 residential units respectively. The tenders will close on 22 January 2026, 26 March 2026, and 5 February 2026.

Dairy Farm Walk, located near several schools and amenities, is anticipated to attract nature lovers due to its proximity to Bukit Panjang Park and Dairy Farm Nature Park. Justin Quek, Deputy Group CEO of Realion (OrangeTee & ETC) Group, noted that despite being the fourth land parcel released in the area recently, the location’s appeal and amenities may sustain demand. The site is expected to attract 2 to 4 bidders, with a highest land rate of S$900 to S$1,000 per square foot per plot ratio (psf ppr).

Dover Drive’s strategic location near educational institutions and business hubs makes it appealing to families and investors. The site includes 3,000 sqm of commercial space, enhancing its attractiveness. Quek anticipates 3 to 6 bidders, with a highest land rate of S$1,200 to S$1,300 psf ppr.

Tanjong Rhu Road marks the first land parcel release in the area in nearly 30 years. Its proximity to the Singapore Swimming Club, Kallang Wave Mall, and the National Stadium, along with potential views of the CBD skyline or the sea, could drive interest. Quek expects 2 to 5 bidders, with a highest land rate of S$1,300 to S$1,400 psf ppr.

Mondrian Singapore Duxton has announced the appointment of Damien Marchenay as its new General Manager. With over 20 years of international experience in the hospitality industry, Marchenay is set to bring his creative and people-first leadership to the hotel, aiming to deepen its cultural connection to the Duxton neighbourhood and elevate its status as a cultural anchor in Singapore.

Marchenay’s career began in the nightlife and dining sectors, which honed his skills in atmosphere and community building. His journey has taken him across Europe and Asia, including a significant stint at Raffles Hotel Singapore two decades ago. Most recently, he transformed Mondrian Seoul Itaewon into a cultural hub known for its vibrant events and collaborations. His leadership philosophy, rooted in trust and creativity, is expected to empower the Mondrian team and enhance guest experiences.

In his new role, Marchenay plans to strengthen ties with local creatives and businesses, fostering a hotel ecosystem that reflects the dynamic energy of Duxton. His vision includes championing collaborations and creating experiences that go beyond traditional hospitality, aiming to leave a lasting creative legacy. “If the concepts and experiences we create here are still being copied in 10 years,” Marchenay stated, “that’s when you know you’ve built something meaningful.”

As Mondrian Singapore Duxton continues to evolve, Marchenay’s appointment marks a significant step in its journey to becoming a modern legend in Singapore’s hospitality scene.