Industry News

Hyundai Motor Group, in collaboration with Nanyang Technological University (NTU) and the Agency for Science, Technology and Research (A*STAR), has inaugurated the Corporate Lab at the Hyundai Motor Group Innovation Centre Singapore (HMGICS). This pioneering initiative in Singapore’s automotive manufacturing sector is set to drive advancements in artificial intelligence (AI), robotics, and smart manufacturing.

Situated within HMGICS, the Corporate Lab serves as a hub for research and development (R&D) and proof-of-concept activities. It aims to integrate cutting-edge technologies directly into factory operations, thereby accelerating innovation cycles. “The Corporate Lab marks an important milestone in bringing this vision to life,” stated Juncheul Jung, Executive Vice President at Hyundai Motor Group.

The collaboration combines Hyundai’s automotive expertise with NTU’s research capabilities and A*STAR’s deep-tech knowledge. The lab will focus on developing AI for smart manufacturing, robotics to enhance production efficiency, and 3D printing for auto parts. It also aims to improve defect detection and inspection accuracy through intelligent robotic systems.

Hyun Sung Park, CEO of HMGICS, emphasised the lab’s role in fostering talent development and creating high-value jobs. By engaging local small- and medium-sized enterprises (SMEs), the lab seeks to bolster Singapore’s R&D ecosystem and advance the Group’s Software-Defined Factory (SDF) vision.

The Corporate Lab is expected to set a new benchmark for industry-academia-government collaborations, strengthening local R&D capabilities and training the next generation in advanced manufacturing technologies.

Singapore’s economy experienced a modest expansion of 1.3% in the third quarter of 2025, according to advance estimates released by the Department of Statistics. This growth, measured on a quarter-on-quarter seasonally-adjusted basis, marks a slight deceleration from the 1.5% growth recorded in the second quarter of the year.

The latest figures highlight a continued, albeit slower, economic recovery as Singapore navigates global economic uncertainties. The marginal drop in growth rate suggests that whilst the economy is still on an upward trajectory, challenges remain in maintaining the momentum seen earlier in the year.

As Singapore continues to adapt to changing economic conditions, the focus will likely remain on sustaining growth whilst addressing potential headwinds.

Singapore’s GDP growth decelerated to 2.9% in the third quarter, down from 4.5% in Q2, as trade momentum waned, according to Market Analyst Zavier Wong from eToro. The economy expanded by 1.3% on a quarter-on-quarter basis. This slowdown reflects a broader global economic shift, with Singapore’s Prime Minister Lawrence Wong describing the world as “fractured, uncertain, and disrupted.”

The latest data highlights a stagnation in manufacturing, a softening in construction, and a decline in wholesale trade, attributed to the diminishing impact of export front-loading earlier in the year. As the US increases tariffs and China limits rare-earth exports, Singapore, which relies heavily on both nations, must navigate these changing trade dynamics. Despite these challenges, the services sector showed resilience, growing by 3.5%, indicating a shift towards services-driven growth.

Wong suggests that investors should interpret the GDP figures not as a mere slowdown but as a signal of a more volatile external economic cycle, marked by retaliation rather than recovery. Singapore’s future growth will depend on the robustness of its service sectors and institutional credibility. The Monetary Authority of Singapore (MAS) has opted to maintain its current policy stance, prioritising stability over tightening, given the moderated growth and contained inflation. Wong emphasises that Singapore’s best strategy in a divided world is to remain open whilst others build barriers.

ABC Impact, an impact investment firm backed by Temasek, has collaborated with DBS and UOB to introduce a sustainability-linked subscription loan facility worth $110m (S$142m). This innovative financial instrument transforms a conventional loan into one that is linked to measurable sustainability performance targets, aiming to channel funds towards projects with significant social and environmental outcomes.

The facility, designed for ABC Impact Fund II, which began in August 2023 and will close in March 2025, boasts assets under management exceeding $600m (S$712m). This is double the size of its inaugural fund, with backing from prominent investors such as Temasek, the Asian Development Bank, and Mapletree Investments.

Under the loan’s terms, portfolio companies must meet targets related to reducing greenhouse gas emissions and benefiting key sectors like agriculture, healthcare, and education. Sugandhi Matta, Chief Impact Officer at ABC Impact, highlighted the significance of this development, stating, “This sustainability-linked loan marks an important milestone in ABC Impact’s journey.”

Simon Ong from DBS noted the partnership’s role in unlocking capital for businesses that deliver both financial and social returns. Meanwhile, Edmund Leong of UOB emphasised the facility’s role in setting a new standard for financing that supports both commercial success and societal progress.

This collaboration sets a new benchmark in the financial sector, integrating sustainability considerations into conventional fund financing and reinforcing the commitment to addressing pressing challenges in Asia.

LingoAce, a leader in online education, has announced that its 120-hour Online Teaching English as a Foreign Language (TEFL) Certification Course has been accredited by the International TEFL Accreditation Council (ITEFLAC). This accreditation, awarded on 10 October 2025, underscores LingoAce’s dedication to high-quality teacher training and English learning experiences. ITEFLAC, based in London, is renowned for its stringent evaluation criteria, which LingoAce’s programme excelled in, particularly in teaching quality, learner support, and course structure.

The accreditation signifies more than just a seal of approval; it is a commitment to providing families and learners with globally standardised education. Hugh Yao, founder and CEO of LingoAce, stated, “Earning ITEFLAC accreditation is more than an endorsement of our English programme; it’s a promise to families and learners that every LingoAce teacher has been prepared to meet global standards.”

For educators, the programme offers a comprehensive 120-hour curriculum across 23 modules, blending theory with practical simulations. It is designed for flexibility, requiring only 20 study hours per week, and is entirely online. Graduates receive an internationally recognised certificate, enhancing their credentials and opening doors to global ESL teaching opportunities. Top graduates are invited to join LingoAce’s teaching team, benefiting from a diverse student base and long-term career growth.

Following its profitability in 2024, LingoAce continues to invest in curriculum innovation. With over 5,000 certified teachers and operations in more than 100 countries, LingoAce remains committed to fostering confident global citizens through education.

AJJ Medtech Holdings Limited and Hangzhou Huaxi Intelligent Technology Co., Ltd. have signed a Memorandum of Understanding (MOU) to jointly develop the world’s first multifunctional humanoid elderly care robot. This collaboration aims to address the growing demand for elderly care services, particularly in Singapore, where the population of seniors aged 65 and above is projected to reach 1.5 million by 2030.

The partnership will establish a joint venture in Singapore to develop and commercialise the robot, which will serve as a testbed for global expansion into markets such as Southeast Asia, Europe, and the United States. The robot will feature multi-language support, assisted living care, medical monitoring, and emotional interaction capabilities, making it suitable for various settings, including nursing homes and hospitals.

Huaxi Intelligent’s first-generation HT-XI humanoid robot has already secured over 1,000 pre-orders, indicating strong market interest. The collaboration aligns with Singapore’s healthcare strategy and global ageing trends, focusing on “Aging-in-Place” policies that promote community and home-based care solutions.

AJJ Medtech’s CEO, Zhao Xin, emphasised the potential for this collaboration to elevate the company’s technological and commercial standing in the Southeast Asian market. However, the project faces uncertainties, including regulatory approvals and market volatility, which may impact its timeline and success.

The companies plan to conduct clinical trials and pilot applications in Singapore’s nursing homes and medical institutions, with further announcements expected as the project progresses.

Standard Chartered is ramping up its training initiatives in generative artificial intelligence (Gen AI) and data for its employees in Singapore and globally. This move is part of the bank’s strategy to leverage technology for innovation and efficiency, ensuring it remains at the forefront of cross-border and affluent banking. The bank has committed over S$4.5m to these training programmes, which have already seen participation from more than 15% of its Singapore-based workforce.

The training includes a foundational AI literacy course, accredited by the Institute of Banking and Finance (IBF), and is part of a broader initiative called SkillsFuture@SC. This programme aims to empower employees to adapt to the evolving banking landscape. Patrick Lee, CEO of Singapore and ASEAN at Standard Chartered, emphasised the bank’s commitment to being a skills-based organisation, stating, “We aim to empower our people through continuous learning, enabling them to transform the work they do.”

In addition to the AI Learning Hub launched last November, the bank introduced its Gen AI tool, SC GPT, in March, enhancing operational efficiency and client engagement. A new Data Management Learning Marathon has also been launched to educate employees on data management and responsible AI.

Standard Chartered’s efforts have been recognised with the IBF Advance Award for Skills Development in Sustainable Finance. Furthermore, three senior leaders were named IBF Fellows for their contributions to the financial industry in Singapore. The bank’s ongoing investment in talent aims to bolster Singapore’s status as a leading financial hub.

In the latest Retail Report for Q3 2025, Knight Frank Singapore highlights the critical need for differentiation in the retail sector to survive in an increasingly competitive market. Ethan Hsu, Head of Retail at Knight Frank Singapore, emphasises that success depends on standing out from the mass of similar offerings.

The report reveals that the average gross rent for prime retail spaces saw a modest increase, with island-wide prime retail rent rising by 0.5% quarter-on-quarter to S$28.40 per square foot per month. This growth is attributed to the swift absorption of vacated units by well-capitalised occupiers, despite some retailers exiting the market due to challenging conditions.

Retail sales, excluding motor vehicles, reached S$7.2b in July and August 2025, surpassing the S$6.9b recorded in April and May. The retail sales index saw significant growth in recreational goods, furniture, and household equipment, partly due to government vouchers boosting discretionary spending.

Despite the rise of e-commerce, which stabilised at 12% to 15% of total retail sales post-pandemic, physical stores remain vital for luxury, lifestyle, and entertainment sectors. The report notes that international chains with deeper financial resources are entering the market, raising competition for local operators.

Cross-border shopping presents additional challenges, with Singaporeans spending over S$1b billion in Johor in the first eight months of 2025. This trend underscores the need for Singapore retailers to focus on unique offerings to retain shoppers.

Looking ahead, rental growth is expected to ease, with annual gains projected between 1% and 3%. Landlords are balancing leasing revenue with considerations like trade-mix and community character to support long-term viability.

Researchers from Nanyang Technological University, Singapore (NTU Singapore) and the Singapore-MIT Alliance for Research and Technology (SMART) have developed innovative antimicrobial compounds to combat bovine mastitis, a costly infection affecting the dairy industry. This breakthrough offers a sustainable alternative to antibiotics, addressing concerns over antibiotic resistance and milk contamination.

The novel compounds, known as oligoimidazolium carbon acids (OIMs), were tested in preliminary farm trials, demonstrating their effectiveness in preventing udder infections without adverse effects on milk quality. Professor Mary Chan from NTU Singapore highlighted the potential of these compounds, stating they “didn’t spoil the cows’ milk nor make it unsafe for consumption.”

The research, published in *Nature Communications*, has attracted interest from agricultural companies in Australia, Belgium, Malaysia, and New Zealand. These firms are keen to explore the commercial potential of OIMs as a safer, environmentally friendly alternative to traditional antiseptics like iodine and chlorhexidine, which can irritate udders and harm the environment.

Professor Paula Hammond from MIT noted the team’s plans to collaborate with industry partners for larger trials and commercialisation. The compounds’ ability to kill multi-drug-resistant bacteria in mice suggests further applications in the biomedical field, according to Professor Kevin Pethe of NTU.

The development of OIMs represents a significant step forward in addressing the challenges faced by the dairy industry, offering a promising solution to reduce the reliance on antibiotics and improve sustainability.

CapitaLand Investment Limited (CLI) and its associated funds have solidified their leadership in environmental, social, and governance (ESG) practices, as evidenced by their performance in the 2025 GRESB Real Estate Assessment. CLI and its listed real estate investment trusts (REITs) achieved significant improvements in their GRESB scores, with CapitaLand Integrated Commercial Trust (CICT), CapitaLand China Trust (CLCT), and CapitaLand India Trust (CLINT) maintaining their prestigious 5-star ratings. Additionally, the CapitaLand Open End Real Estate Fund (COREF) earned its inaugural 5-star rating.

CLI, along with CapitaLand Ascendas REIT (CLAR) and CapitaLand Ascott Trust (CLAS), retained a 4-star rating. Notably, CLAS secured the top position in the Listed Hotel, Globally Diversified category for the fifth consecutive year. CapitaLand Malaysia Trust (CLMT) improved its rating from three to four stars, whilst the CapitaLand Ascott Residence Asia Fund II (CLARA II) also achieved a 4-star rating. These performances will result in interest rate savings from sustainability-linked loans.

Vinamra Srivastava, Chief Sustainability & Sustainable Investments Officer at CLI, stated, “CLI, our listed and private funds continue to lead in GRESB, reflecting our commitment to embedding sustainability across the fund management lifecycle.”

In addition to GRESB achievements, CLI and CICT maintained their MSCI ESG Ratings of ‘AAA’ and ‘AA’, respectively, for the fourth year. CLI also remained on the FTSE4Good Index for the 12th consecutive year, highlighting its ongoing commitment to sustainable practices.