Industry News

Sanofi has achieved a milestone by creating the largest mural of magnetic hands in Singapore, marking a public pledge against Respiratory Syncytial Virus (RSV) as part of its “Together Against RSV” campaign. The mural, featuring over 1,000 hand pledges, was unveiled during a three-day event at Serangoon NEX, where families, healthcare partners, and community members gathered to raise awareness about RSV, a common yet potentially serious virus affecting infants.

The mural, measuring 2 metres tall by 5.1 metres wide, serves as a visual reminder of the nation’s commitment to combating RSV. Each magnetic hand symbolises a pledge to protect infants from RSV, which is a leading cause of hospitalisation in young children. Zainab Sadat, Head of Vaccines for Sanofi Southeast Asia and India, emphasised the significance of the record, stating, “This record is more than just numbers; it is a symbol of unity and a testament to the collective power of Singaporean families, healthcare professionals, and communities coming together for a cause that truly matters.”

The campaign aims to spark ongoing conversations about RSV and empower parents with knowledge and preventive measures, including immunisation options. In Singapore, RSV is a leading cause of infant hospitalisations, with most cases occurring in otherwise healthy full-term babies. Globally, RSV leads to millions of hospitalisations and significant medical costs.

Sanofi’s initiative also includes collaborations with hospitals, parent communities, and an educational microsite, TogetherAgainstRSV.sg, developed with the Singapore Paediatric Society. This effort is part of Sanofi’s mission to provide trusted information and preventive solutions to parents, ensuring a healthier future for infants worldwide.

Ngee Ann Polytechnic (NP) has launched the Centre for Behaviour and Nudge Design (BaND), introducing Abbi, the world’s first AI-enabled Behavioural Insights Coach. Unveiled at the Institute for Human Resource Professionals’ People Behind People Forum, Abbi was co-developed with the UK-based Behavioural Insights Team (BIT). This innovative tool is designed to help organisations enhance workplace culture and productivity by integrating behavioural science with AI coaching.

The BaND initiative is a response to the low engagement levels among Singaporean workers, as highlighted by a recent ADP Research study. Only 12% of Singapore’s workforce is engaged, the lowest in Southeast Asia. Abbi aims to address this by using behavioural science methods and AI tools to foster positive workplace habits. NP’s Principal and CEO, Lim Kok Kiang, emphasised the transformative potential of behavioural science and AI, stating, “We see behavioural science and AI not just as tools, but as catalysts for transformation in the workplace.”

The programme has already shown promise through a pilot with UOB, where behavioural nudges increased online training completion rates fourfold among 3,000 employees. This success has led to plans to expand the initiative to 30,000 employees regionally. UOB will also utilise BaND’s capabilities to conduct data-driven experiments to refine nudging strategies further.

Looking ahead, NP plans to integrate BaND’s offerings into its curriculum by 2027, providing 400 students with skills in behavioural science and nudging. This initiative marks a significant step in preparing a future-ready workforce equipped to tackle complex challenges.

YY Group Holding Limited, a leader in on-demand workforce solutions, has announced the launch of the YY Circle Bursary Award. This initiative, unveiled on 13 October 2025, is designed to support Singaporean workers on the company’s staffing platform in pursuing higher education. The bursary forms part of YY Group’s commitment to corporate social responsibility, focusing on educational development and nurturing future talent in Singapore.

The bursary is available to full-time Singaporean students enrolled in polytechnics, polytechnic foundation programmes, and universities. Eligibility for the award is determined by Per Capita Income (PCI), ensuring that financial support reaches those most in need.

Mike Fu, CEO and Executive Director of YY Group, stated, “At YY Group, we believe education is the foundation of progress. The YY Circle Bursary Award is designed to ease financial pressures so our gig workers can focus on furthering their education and reaching their full potential.” He emphasised the company’s dedication to investing in young talent and fostering a community of skilled, socially conscious individuals poised to shape Singapore’s future.

This initiative not only highlights YY Group’s role in supporting educational advancement but also underscores its broader commitment to societal development. By alleviating financial burdens, the bursary aims to empower gig workers to achieve their educational goals, contributing to a more educated and resilient workforce in Singapore.

Lazada has strengthened its partnership with POP MART to offer a more seamless collector experience across Southeast Asia. Starting today, shoppers in Singapore, Malaysia, and Indonesia can benefit from faster dispatches, reduced shipping fees, and easier returns. Orders will be shipped within 48 hours and can arrive in as little as two days, thanks to optimised logistics. Additionally, POP MART is launching its first Lazada Indonesia store on LazMall, providing local fans with a trusted shopping channel.

The enhancements are part of Lazada’s mission to make the collector journey more effortless and rewarding. A Lazada spokesperson stated, “These enhancements are about more than speed; they’re about elevating the experience of collecting something you truly love.” The upgrades include a 30-day free return policy with localised processes, ensuring hassle-free refunds.

This collaboration with POP MART not only improves online access but also fosters community engagement through events like the Lazada x POP MART 5 KM Run and the POP TOY SHOW in Singapore. These initiatives highlight Lazada’s commitment to nurturing the art toy movement in Southeast Asia, blending commerce with culture to create a multifaceted collecting experience.

As Lazada continues to innovate, collectors can look forward to more seamless and exciting shopping experiences, both online and offline, across the region.

DBS Bank’s Chief Investment Office has released its 4Q25 CIO Insights report, “Ride The Trend,” offering strategic guidance on asset allocation and investment themes. The report emphasises the importance of staying invested in the current market climate, particularly in technology and Asia ex-Japan equities, despite global economic uncertainties.

The report notes that the bank’s Barbell portfolio, which balances income-generating assets with growth equities, has achieved a 16.3% net return year-to-date. Hou Wey Fook, Chief Investment Officer at DBS Bank, stated, “Time in the market beats timing the market,” underscoring the importance of maintaining investments through market fluctuations.

DBS anticipates a slowdown in global growth due to trade tariff uncertainties but does not foresee a US recession. The US economy is expected to be bolstered by AI-related capital expenditure, fiscal stimulus, and lower interest rates. The report suggests that these factors create a favourable environment for risk assets.

Key investment strategies include maintaining an overweight position in technology stocks and Asia ex-Japan equities, which are poised to benefit from valuation discounts and potential fund inflows. Additionally, the report advises hedging against market volatility with investments in gold, hedge funds, and private assets.

DBS also highlights the potential for investment-grade credit as the Federal Reserve continues its rate-cutting cycle. The report concludes with a call for portfolio diversification to manage risks amidst ongoing policy uncertainties and fiscal concerns.

Singapore’s office market is experiencing a bullish phase, with Q3 2025 marking the third consecutive quarter of rental growth, according to CBRE Research. Gross effective rents for Core CBD (Grade A) offices increased by 0.8% quarter-on-quarter to $12.20 per square foot per month, driven by strong occupier demand and a tightening supply.

Tricia Song, CBRE Head of Research for Singapore and Southeast Asia, highlighted the market’s resilience despite global economic uncertainties. Vacancy rates in the Core CBD have decreased from 5.9% in Q1 2025 to 5.1% in Q3 2025, indicating sustained leasing momentum. The IOI Central Boulevard development, the last major Grade A completion until 2028, achieved approximately 90% commitment by Q3.

Neighbouring submarkets such as Marina Centre and Beach Road/City Hall are also performing well, with less than 3% of space available. David McKellar, CBRE Head of Office Services, noted that sectors like banking, finance, and government are leading occupier activity. Outside the CBD, Paya Lebar Green is fully occupied following Visa’s relocation, reducing vacancy rates in decentralised locations from 7.9% in Q2 to 6.5% in Q3.

The market recorded a net absorption of approximately 510,000 sq. ft. from Q1 to Q3, with office rents growing 2.1% year-to-date. Looking ahead, the supply pipeline remains limited, prompting occupiers to secure quality space swiftly. CBRE maintains its 2025 rental growth forecast of around 3%, with potential upside as interest rates ease.

In the investment market, Q3 2025 office deals surged seven-fold to $1.794b, with the largest transaction being the 55% stake sale of CapitaSpring for $1.045b. Michael Tay, CBRE Deputy Managing Director, noted the sector’s positive sentiment, driven by rent growth and limited future supply. Investment momentum is expected to remain strong through the year.

Ampace, a global leader in energy storage solutions, made a notable appearance at Data Centre World Asia 2025, held on 8–9 October at Marina Bay Sands, Singapore. The company showcased its PU200 battery series, designed for Uninterruptible Power Supply (UPS) systems, and previewed its next-generation semi-solid-state battery technology, aiming to address the power challenges faced by modern data centres.

The PU200 Battery Series is engineered to provide mission-critical reliability with a 15-year float service life and high-power density, allowing data centre operators to optimise space and reduce total cost of ownership. Alongside this, Ampace revealed its advanced semi-solid-state battery technology, promising enhanced safety and increased energy density. This innovation underscores Ampace’s commitment to leading the industry towards more secure and efficient energy storage solutions.

The Ampace booth attracted numerous visitors, including data centre operators and engineers, facilitating discussions on the evolving energy landscape. A senior representative from Ampace stated, “Our presence here with both the commercially ready PU200 and our developmental semi-solid-state technology demonstrates our dual focus—delivering proven performance for current needs whilst investing in foundational technologies for a more resilient and sustainable digital future.”

Ampace continues to push the boundaries of energy technology, leveraging its strong research and development capabilities to accelerate the transition to a sustainable future.

HitPay, a leading payments platform in Singapore, has partnered with Triple-A, a licensed crypto payment solutions provider, to introduce stablecoin payments to over 20,000 local businesses. This collaboration, regulated by the Monetary Authority of Singapore (MAS), allows merchants to accept stablecoins and receive instant fiat settlements, eliminating the risks associated with digital currency volatility.

The partnership leverages HitPay’s expertise in merchant acquisition and checkout processes with Triple-A’s crypto payment technology. This integration provides a seamless and compliant solution for businesses aiming to tap into the growing digital currency market. Both companies are regulated by MAS, ensuring compliance and security for consumers and businesses alike.

Aditya Haripurkar, CEO of HitPay, stated, “Our merchants are always looking for ways to reach new customers without adding operational risk. By partnering with Triple-A, we make stablecoin acceptance as simple as any other payment method.” Eric Barbier, CEO of Triple-A, added, “Together, we enable businesses to reach crypto-native consumers whilst removing volatility and keeping compliance straightforward.”

The demand for digital currency payments is surging in Singapore, with a recent survey indicating that 60% of businesses plan to accept crypto payments within the next two years. In the second quarter of 2024, local merchant services received nearly $1b in crypto payments. This trend is part of a global shift, with blockchain transaction volumes expected to exceed $27t in 2025.

This partnership marks a significant step in integrating digital currencies into everyday transactions, providing a model for other regions to follow.

A recent study by Airwallex, a global financial platform, has highlighted the financial burden faced by Singaporean employees due to delayed reimbursements. The survey of 500 workers found that more than half spend up to $3,650 (S$5,000) annually on business-related expenses out of pocket, with some incurring costs exceeding $14,600 (S$20,000) before being reimbursed.

The hospitality and leisure sector is particularly affected, with 15% of employees reporting expenses above $14,600 (S$20,000). Manufacturing and education sectors follow closely. The study also revealed that 19% of respondents wait three to four weeks for reimbursement, and 8% wait over a month, despite 28% of employees believing payments should be made within five days.

Financial strain is a significant issue, with 41% of employees experiencing stress due to reimbursement delays. Younger workers, aged 18-34, are most affected, with 28% resorting to personal savings to cover costs. Additionally, 52% use credit cards for business expenses, risking debt if reimbursements are delayed.

The study suggests that implementing corporate cards and instant reimbursement platforms could alleviate financial pressure and improve workplace satisfaction. Lionel Tan, Director of Account Management at Airwallex, stated, “We’re focused on helping businesses remove unnecessary friction from day-to-day financial operations.”

As businesses face economic uncertainty and talent retention challenges, improving expense management processes could be crucial for supporting employee well-being and financial stability. The findings underscore the need for modern tools to create a more supportive and efficient workplace.

Salesforce, the global leader in AI Customer Relationship Management (CRM), has partnered with Singlife to introduce an artificial intelligence (AI) agent designed to enhance customer service. Announced at Dreamforce 2025, this collaboration marks Singlife as the first insurer in Singapore to implement Salesforce’s Agentforce platform, which aims to elevate human potential rather than replace it.

The AI agent, integrated with Salesforce’s Data Cloud, will enable Singlife’s customer service executives to provide real-time, accurate responses to a wide array of product-related enquiries. This innovation is expected to significantly improve response times and service quality by allowing representatives to access information instantly, rather than manually searching through extensive materials.

Romil Sharma, Group Head of Technology and Operations at Singlife, highlighted the strategic importance of AI in their operations, stating, “Collaborating with Salesforce allows us to bring AI into the hands of our customer service executives in a practical way, helping them respond faster and with greater confidence.”

Salesforce’s Executive Vice President & Managing Director for South and Southeast Asia, Arun Kumar Parameswaran, expressed enthusiasm about the collaboration, noting that the integration of Agentforce and Data Cloud is set to redefine customer engagement in the insurance industry.

Singlife plans to extend the use of the AI agent to its network of financial adviser representatives, aiming to provide them with timely and reliable information to better address customer needs. This initiative is part of Singlife’s broader strategy to institutionalise AI across various business functions, including underwriting, claims, and distribution.