Industry News

SPTel has unveiled AI-Security, an artificial intelligence (AI) tool designed to enhance the cybersecurity capabilities of small and medium-sized enterprises (SMEs). Announced on 3 September, AI-Security aims to help these organisations quickly and cost-effectively identify and assess cyber risks.

AI-Security provides 24/7 monitoring of cybersecurity advisories and vulnerabilities, cross-referencing them against an SME’s digital infrastructure. When a threat is detected, the system issues an immediate alert, allowing engineers or network service providers like SPTel to respond swiftly. The tool also classifies threats using the SME’s risk matrix, aligning with risk policies to prioritise responses and optimise resource allocation.

Heng Kwee Tong, Head of Engineering and Corporate IT at SPTel, stated, “With AI-Security, we are giving SMEs a powerful AI tool that moves cybersecurity beyond reactive protection to proactive intelligence, enabling faster, more effective responses to emerging cyber threats.”

Developed in collaboration with technology provider 1CloudStar, AI-Security is hosted on SPTel’s edge cloud, ensuring data sovereignty and enhanced physical security within Singapore. This setup minimises latency, allowing for responsive performance.

According to the Cyber Security Agency of Singapore’s Cyber Landscape 2023 report, over 80% of organisations experience at least one cybersecurity incident annually. For SMEs, which often lack specialised expertise, robust cyber defence is crucial for business resilience.

Shorea Capital has teamed up with Cover Projects to unveil The Initial Sama, a 92-key serviced residence at 26 Evans Road, Singapore, focusing on wellness and holistic living. The collaboration sees Shorea Capital leading the investment structuring and funding, whilst Cover Projects manages the architecture, interior design, and daily operations.

Located in the heritage district of Bukit Timah, The Initial Sama integrates wellness into its design, offering both short- and long-stay serviced flats. The property includes coworking lounges and Sama Wellness, an in-house centre providing recovery, prevention, and holistic health services. Guests can access spa and therapy rooms, sports diagnostics, and mental wellness consultations, all aimed at promoting a balanced lifestyle.

Lim Keong Wee, Managing Director of Cover Projects, stated, “The Initial Sama represents a new generation of hospitality—where wellness, design, and purposeful living come together seamlessly.”

Eugene Teo, CEO of Shorea Capital, added, “We recognise the growing demand for differentiated and innovative spaces to respond to evolving lifestyle and health-focused needs.”

The Initial Sama, which opened in July 2025, is now welcoming residents seeking a wellness-oriented living environment. This project marks a significant step in redefining urban hospitality by prioritising community, flexibility, and well-being.

PixVerse, a leading AI video platform with over 100 million users globally, has announced a successful Series B funding round, raising $60 million.

The investment, spearheaded by Alibaba with participation from new investor Antler, is set to accelerate the worldwide adoption of PixVerse’s AI video creation tools, making high-quality video production more accessible to creators, businesses, and everyday users.

The company highlighted the significance of this funding as a testament to the potential of the AI video market and the trust it has garnered from its global community.

“Over the past two years, more than 100 million users have turned their imagination into video on PixVerse, inspiring us to keep pushing the boundaries of what’s possible,” the company said in a statement.

Recently, PixVerse launched its latest model, PixVerse V5, which improves motion quality, visual performance, and prompt accuracy whilst maintaining high generation speed. This model has been benchmarked first in image-to-video and second in text-to-video by Artificial Analysis.

The platform’s viral Venom Effect template, introduced with PixVerse V3, has already generated over one billion views on social media.

PixVerse continues to expand beyond entertainment into sectors such as advertising, e-commerce, and education. With its rapid growth and presence in over 175 countries, PixVerse is committed to making video creation accessible to all, aiming to reach billions who have yet to explore video as a medium for communication and storytelling.

CIMB Group Holdings Berhad has announced a significant leadership change in its Singapore operations. Victor Lee Meng Teck, who has served as CEO of Growth Markets and CEO of CIMB Singapore, has resigned to pursue other opportunities and will be on gardening leave immediately. He joined CIMB Group in January 2019 and took the helm of CIMB Singapore in January 2020.

In the interim, Novan Amirudin, Group CEO of CIMB Group, will oversee the Growth Markets as acting CEO. Andrew Boey, Chief Financial Officer of CIMB Singapore, will assume the role of Officer-in-Charge, managing day-to-day operations to ensure stability and continuity.

Amirudin expressed gratitude for Lee’s contributions, stating, “Victor has been instrumental in transforming and institutionalising CIMB Singapore for continued sustainable success, driven by CIMB Group’s EPICC culture.”

CIMB Group has activated its succession plan and will announce Lee’s successors in due course. This transition marks a pivotal moment for CIMB Singapore as it continues to focus on its strategic goals and maintain its growth trajectory in the region.

TOTM Technologies Limited has entered into a non-binding memorandum of understanding (MOU) with Agentis Intelligence Pte Ltd, a Singapore-based company specialising in data analytics and blockchain solutions. The MOU seeks to explore joint opportunities in developing secure and scalable digital identity ecosystems for large-scale public sector and enterprise digital transformation projects.

The partnership aims to leverage TOTM’s expertise in biometric and digital identity solutions alongside Agentis’ capabilities in blockchain technologies and decentralised infrastructure. This strategic collaboration is non-exclusive and will initially last for two years, with the possibility of renewal upon mutual agreement.

TOTM Technologies’ Board of Directors confirmed that none of its directors or substantial shareholders have any direct or indirect interest in Agentis or the MOU, aside from their shareholdings in the company. The company plans to make further announcements regarding material developments and any definitive agreements resulting from this MOU.

Shareholders and potential investors are advised to exercise caution when dealing with the company’s securities, as there is no certainty that definitive agreements will be executed. TOTM Technologies encourages stakeholders to seek professional advice if they have any doubts about their actions.

True Global Ventures 4 Plus Pte. Ltd. (TGV) has been granted a capital markets services (CMS) licence by the Monetary Authority of Singapore (MAS), enabling the firm to conduct regulated fund management activities beyond venture capital. This development positions TGV as a Licensed Fund Management Company (LFMC) for accredited investors, allowing it to manage regulated investment funds from Singapore.

The CMS licence allows TGV to diversify its fund management activities and introduce new investment strategies. These include managing continuation funds, which provide additional growth capital to high-performing portfolio companies and offer investors the option to continue participating in later-stage pre-IPO companies. This flexibility was previously constrained by TGV’s Venture Capital Fund Management (VCFM) licence.

Additionally, TGV plans to manage fund of funds, which will diversify investor portfolios by allocating to top-tier venture capital managers across various regions and sectors. The firm also intends to invest in public companies that align with its core themes of artificial intelligence and blockchain, thus offering investors opportunities in both private and public markets.

“We are honoured to receive the CMS licence from MAS, which reflects our commitment to meeting the highest regulatory compliance and governance standards,” stated TGV. This licence not only strengthens TGV’s position as a global venture capital leader but also underscores its dedication to robust governance, compliance, and investor protection.

Oiltek International Limited’s subsidiary, Oiltek Global Pte Ltd, has entered into a non-binding memorandum of understanding with SK SAF Sdn. Bhd. to collaborate on a sustainable aviation fuel (SAF) biorefinery and integrated pretreatment unit (PTU) hub in Sarawak, Malaysia. This initiative aligns with Sarawak’s Green Economy Transition Policy, focusing on converting palm oil mill effluent and decanter cake into high-value renewable fuels.

The project distinguishes itself by separating the PTU from the core biorefinery, creating a standalone profit centre. This design ensures feedstock certainty, generates early revenue, and mitigates risk exposure. Oiltek will serve as the PTU technology provider and an associate trading partner for feedstock and product markets.

Currently, the project is in its preliminary stage, with no definitive agreements or formal plans finalised. Shareholders are advised to exercise caution and avoid speculative actions regarding their investments. Further announcements will be made as the project progresses.

Singapore has achieved an impressive seventh place in the 2025 IMD World Talent Ranking, showcasing its strong position in global talent competitiveness. The ranking, which evaluates 69 economies, highlights Singapore’s strengths in readiness, placing it second in that category. However, the city-state ranks ninth in appeal and 30th in investment and development, indicating areas for potential improvement.

The IMD World Talent Ranking assesses countries based on their ability to develop, attract, and retain talent. Singapore’s high ranking in readiness reflects its robust educational system and skilled labour force, which meet the needs of a competitive economy. The appeal category underscores Singapore’s ability to attract foreign highly skilled personnel, thanks to its favourable business environment and high quality of life.

The Institute for Management Development (IMD), an independent academic institute, compiles the World Talent Ranking. IMD aims to support leaders and policymakers in navigating complexity and change, with a focus on sustainability and social inclusion.

LHN Limited has announced that its subsidiary, Coliwoo Holdings, has received a conditional eligibility-to-list letter from the Singapore Exchange Securities Trading Limited (SGX-ST) for its proposed listing on the Mainboard. The approval, granted on 9 September 2025, is contingent upon Coliwoo Holdings meeting specific SGX-ST requirements, including pre-quotation disclosures and document submissions.

The eligibility-to-list is valid for three months, subject to changes in SGX-ST policies. The SGX-ST reserves the right to amend or withdraw the eligibility at its discretion. Coliwoo Holdings’ listing is part of a strategic spin-off from LHN Limited, aimed at enhancing its market presence and operational focus.

The company stated that it will provide updates on the listing process as developments occur. The initial public offering (IPO) and listing completion depend on market conditions and compliance with SGX-ST conditions.

Shareholders and potential investors are advised to exercise caution and seek professional advice when dealing with LHN Limited’s securities. The listing aims to bolster Coliwoo Holdings’ growth trajectory, although the timeline for the IPO remains uncertain.

Bettr, a prominent provider of embedded financing under Ant International, has unveiled an AI-driven accounts receivable financing solution aimed at empowering small and medium-sized enterprises (SMEs) on global e-commerce platforms. As the year-end shopping season approaches, this solution offers vendors rapid and secure access to working capital, addressing the urgent need for flexible funding to manage increased inventory, marketing, and operational costs.

The innovative solution leverages advanced AI and machine learning to streamline the financing process. By analysing real-time business data such as invoices, sales history, and customer ratings, the AI system generates precise credit risk assessments. This allows Bettr to offer tailored loan solutions at competitive market rates, ensuring a seamless application experience for vendors.

Quan Yu, General Manager of Credit Services at Ant International, highlighted the transformative potential of this solution: “By integrating our alternative data-powered credit assessment and risk management directly into the e-commerce ecosystem, we can quickly approve and disburse funds. This is a game-changer for small and medium-sized businesses looking to scale quickly and meet demand.”

The platform also prioritises security, employing continuous risk management to monitor transactions in real time and prevent fraudulent activities. This dual focus on speed and security enables vendors to expand their businesses confidently, whilst Bettr mitigates potential risks.

Bettr’s initiative not only aims to enhance financial agility for SMEs but also seeks to advance financial inclusion globally by harnessing technology and collaborating with partners across sectors.