Industry News

The Singapore dollar is gaining recognition as a stable and secure currency in Asia, according to a recent report by Julius Baer. The report, authored by equity research analyst Jen-Ai Chua, highlights the currency’s 25-year track record of appreciation, averaging 1.55% annually, supported by Singapore’s robust economic growth and fiscal discipline. This stability has positioned the Singapore dollar as a potential alternative to the Swiss franc for investors seeking safe haven currencies amidst US dollar diversification.

The report notes that the Singapore dollar’s strength is underpinned by a unique managed float system, which is overseen by the Monetary Authority of Singapore (MAS). This system allows the currency to maintain its stability and avoid excessive market speculation. The Singapore dollar’s resilience was evident during past financial crises, such as the 1997-1998 Asian Financial Crisis and the 2008 Global Financial Crisis, where it outperformed other regional currencies.

Julius Baer has upgraded Singapore equities from Neutral to Overweight, citing the defensiveness of the Singapore dollar, attractive equity market valuations, and an anticipated liquidity boost from the Equity Market Development Programme. The report also highlights Singapore’s position as the largest forex centre in the Asia Pacific and the third largest globally, with daily trades of around $1 trillion.

As the Singapore dollar continues to demonstrate its stability and strength, it is increasingly being recognised as one of the world’s major currencies, consistently ranking within the top 15 most traded currencies globally.
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Schroders, a prominent global asset management firm, has announced the appointment of Marita McGinley as Head of Operations for Asia Pacific, effective 1 September. McGinley, who is based in Singapore, will continue her role as Global Head of Digital Assets Strategy. Her appointment underscores Schroders’ commitment to advancing its Global Operating Platform, which integrates emerging technologies like artificial intelligence and distributed ledger technology.

McGinley joined Schroders in 2016 and has played a crucial role in establishing the Global Digital Assets Centre of Excellence in Singapore. Her leadership has been pivotal in fostering innovation and collaboration within the digital asset space. Prior to her tenure at Schroders, McGinley gained extensive experience at Man Group, focusing on operational management and transformation.

Gopi Mirchandani, Head of Client Group Asia at Schroders, praised McGinley as an exceptional leader with deep operational expertise and a forward-thinking approach. “Her leadership in digital assets, combined with her ability to navigate the region’s evolving landscape, uniquely positions her to lead our operational platform,” Mirchandani stated.

McGinley expressed enthusiasm for her new role, highlighting Asia Pacific’s dynamic growth and potential for financial innovation. “There is an enormous opportunity to position Schroders and our clients at the frontier of digital transformation,” she remarked.

This strategic appointment aligns with Schroders’ vision to enhance its operational resilience and drive the adoption of digital solutions across the region. McGinley will report to Dionne Smith, Global Head of Platform Services, and Keith Frimpong, Global Head of Platform Change.
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Singzyme, a biotech startup based in Singapore, has been awarded the 2025 Golden Ticket by Amgen and NSG BioLabs. This accolade grants Singzyme a one-year residency at NSG BioLabs, complete with access to certified BSL-2 lab facilities and networking opportunities within Amgen’s scientific community. The Golden Ticket Programme, now in its fourth year, aims to support biotech startups by providing essential infrastructure, mentorship, and resources to foster the development of new therapies.

Singzyme was chosen from a competitive pool of six finalists, impressing Amgen’s internal scientific committee with its proprietary Peptide Asparaginyl Ligase platform. This innovative technology addresses significant challenges in the manufacturing of antibody-drug conjugates and other complex biologics, offering potential for safer and more efficient production of targeted therapies.

Dr Alan Russell, Vice President for Research Biologics at Amgen, praised Singzyme’s platform, stating, “Singzyme’s novel platform reflects the strong scientific thinking and innovation emerging from Singapore’s biotech sector.” Daphne Teo, CEO and Founder of NSG BioLabs, highlighted the programme’s role as a “valuable stepping stone for biotech startups at critical stages of their journey.”

Singzyme’s Chief Technology Officer, Abbas Sahili, expressed that the award validates the transformative potential of their technology, whilst CEO Wee Kiat Tan emphasised their commitment to advancing the platform towards clinical applications in oncology and beyond.

The Golden Ticket Programme has previously supported companies like Albatroz Therapeutics and VerImmune, which have leveraged the programme to further their research and expand partnerships. The initiative underscores the importance of cross-sector collaboration in accelerating biotech innovation and growth.
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Digital travel platform Agoda has introduced its Content Enhancement Tool, leveraging Machine Learning and Artificial Intelligence to enhance the quality of images for over 6 million accommodation options on its platform. This innovation aims to provide travellers with clearer and more informative visuals, thereby improving their booking experience.

The tool automatically processes millions of images, enhancing their resolution, removing duplicates, and improving image tags. It ranks images based on clarity and relevance whilst maintaining authenticity, offering a true-to-life representation of properties. Idan Zalzberg, Agoda’s Chief Technology Officer, stated, “A good picture can say more than a thousand words. Photos are essential to building trust when booking travel.”

Initial results indicate that users are engaging more with the enhanced images, spending more time browsing listings and checking room details. Zalzberg added, “This is about giving users additional confidence. When you know what to expect, you book with more peace of mind and less hesitation.”

Agoda’s platform offers a wide array of travel options, including over 6 million holiday properties, 130,000 flight routes, and 300,000 activities. The new tool is part of Agoda’s ongoing efforts to leverage technology to improve the travel booking process. As the platform continues to evolve, travellers can expect even more seamless and informed booking experiences.
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Kruncher, a Singapore-born startup, is transforming private market investing with its AI-powered platform, which enables investors to efficiently identify promising opportunities. The platform, described as the most comprehensive AI analyst for private markets, tracks thousands of companies simultaneously, providing critical updates and data points. This allows investors to focus on significant developments, reducing analysis time from eight hours to just 30 minutes.

Founded in Singapore, Kruncher addresses the challenge of limited time and excessive information in private markets. Its technology converts unstructured documents into structured timelines, showcasing a company’s evolution from early pivots to growth milestones. This unique approach has attracted hundreds of investment firms globally, including P101, 1982 Ventures, and QAI Ventures.

Andrew, a UK-based growth stage investor, highlighted Kruncher’s impact: “Kruncher helped us catch a pivot that wasn’t even mentioned in the deck. It changed our conviction completely.” Similarly, Sandro Moretti, Managing Partner at Blacksheep Ventures, noted, “90% of our inbound was noise. With Kruncher, we instantly know which deals deserve our attention and why.”

In May, Kruncher expanded to California, signing a US client managing over $12b in assets. Since then, the company has experienced over 100% month-on-month revenue growth, serving clients across Asia, Europe, and the US. CEO Francesco De Liva emphasised, “Kruncher is not just a time saver. It’s a complete transformation, helping investors operate with clarity, continuity, and confidence.”

Backed by 5I Ventures and Aument Capital Partners, Kruncher raised $1m in pre-seed funding in late 2024. The company, led by De Liva, continues to innovate and expand its global reach.
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Ocorian, a global provider of private client services, has announced the appointment of Andrew Ho as Regional Head, Private Clients, for the Asia-Pacific (APAC) region. Based in Singapore, Ho will report to Annerien Hurter, Global Head of Private Client at Ocorian. With more than two decades of experience in senior roles across Singapore, Hong Kong, and the Channel Islands, Ho is set to bolster Ocorian’s growth in the region.

Ho’s recent role as a consultant in Singapore involved providing directorship services, structuring advice, and administration support. His previous positions include Head of Private Wealth for IQ-EQ in Singapore, and roles at Credit Suisse Trust and TMF Group. He began his career with Abacus Financial Services and the Royal Bank of Canada in Guernsey.

Annerien Hurter commented, “The APAC region is a key strategic priority for Ocorian’s private client services and Andrew’s expertise and experience is ideally suited to helping drive our plans for continued growth.” Ho expressed his enthusiasm, stating, “Ocorian has a strong record of 50-plus years servicing the needs of private clients globally and I look forward to working with our dedicated teams of legal, accounting, tax, fiduciary and real estate specialists to continue the growth of the business.”

Ocorian is renowned for its comprehensive suite of corporate, fund, and private client services, managing over 20,000 structures for more than 8,500 clients worldwide. The company operates across major financial hubs, including Singapore, Hong Kong, and the UK, amongst others.
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Blackpanda has been awarded the Frost & Sullivan 2025 Company of the Year for Incident Response Excellence in Asia-Pacific for the second year running. This accolade recognises the firm’s innovative approach to cyber emergency response amidst a surge in cyberattacks across the region. Blackpanda’s IR1 subscription, which offers fixed-cost, service-level agreement-backed incident response, has seen triple-digit growth since its launch in 2023, making expert cyber assistance more accessible to small and medium enterprises (SMEs).

Traditional incident response services, costing between $25,000 and $100,000 per incident, often exclude SMEs from accessing necessary support. Blackpanda’s IR-1 subscription addresses this gap by providing 24/7 expert response, continuous vulnerability scanning, and embedded cyber insurance through a unified software-as-a-service (SaaS) platform. Founder and CEO Gene Yu stated, “IR-1 is making digital emergency response as accessible as roadside assistance, protecting businesses across Asia that were previously left defenceless.”

The company’s Assurance-to-Insurance (A2I) approach integrates immediate response with financial protection, eliminating silos between responders, insurers, and forensic providers. This model allows for faster containment, reduced premiums, and the elimination of incident response deductibles. Blackpanda’s strategy includes embedding IR1 subscriptions into telecommunications packages and enterprise hardware, extending protection to consumers and SMEs through trusted regional providers.

With strategic hubs in Singapore, Tokyo, Hong Kong, and Manila, Blackpanda is committed to making cyber emergency response an essential safeguard for businesses across Asia. As Yu added, “Our second consecutive award validates that subscription-based, partner-driven democratisation is the future of cyber resilience in Asia.”
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Ascentium, a global business services platform based in Singapore, has announced the acquisition of ZICO Holdings’ corporate services division, marking a significant expansion in Southeast Asia. This strategic move, revealed on 21 August 2025, includes operations in Singapore, Malaysia, the Philippines, and the introduction of services in Labuan. The acquisition aims to integrate ZICO’s expertise in corporate secretarial services, trust administration, and regulatory compliance into Ascentium’s existing framework.

The acquisition is set to enhance Ascentium’s service offerings across multiple markets, providing clients with a broader range of corporate and fiduciary solutions. This development follows Ascentium’s 2024 acquisition of InCorp Global, which is transitioning to the Ascentium brand by 2026. The company continues to focus on delivering technology-enabled business services across the Asia-Pacific region.

Lennard Yong, Group CEO of Ascentium, stated, “The acquisition marks an important advance in our Southeast Asia growth strategy and represents a crucial milestone towards building a leadership team with unmatched regional expertise.” Datuk Kelvin Ng, CEO of ZICO Holdings, expressed confidence in the transition, highlighting the potential for new opportunities under Ascentium’s leadership.

This acquisition underscores Ascentium’s commitment to expanding its footprint in Asia-Pacific, following previous acquisitions of Links International and Harneys Fiduciary. The integration of ZICO’s services is expected to bolster Ascentium’s position as a leader in corporate services, finance, and trust solutions across the region.
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Knight Frank Malaysia and Knight Frank Singapore have launched a pivotal research paper on the Johor-Singapore Special Economic Zone (JS-SEZ) during the ‘Bridging Growth Across Borders’ event. The gathering, held on 21 August at Amari Hotel Johor Bahru, attracted over 200 government leaders, industry players, and investors, marking a significant step in the cross-border economic collaboration between Malaysia and Singapore.

The event featured a keynote by the Chief Executive of the Iskandar Regional Development Authority, Dato’ Haji Mohd. Noorazam, and a joint presentation by Amy Wong, Executive Director of Research & Consultancy at Knight Frank Malaysia, and Leonard Tay, Head of Research at Knight Frank Singapore. A panel discussion explored how the JS-SEZ can facilitate smarter cross-border business, with insights from industry leaders including Jimmy Koh of United Overseas Bank Limited and Law Chung Ming of the Singapore Logistics Association.

The JS-SEZ, signed into agreement in January, aims to boost trade, investment, and talent flow between Johor and Singapore. Knight Frank’s research paper highlights the zone’s potential to attract high-value industries through competitive real estate costs and enhanced infrastructure. In the first quarter of 2025, Johor secured RM30.1 billion in investments, with 89% from foreign investors.

Amy Wong noted, “This research brief provides an investment outlook and showcases how Johor’s scale and workforce complement Singapore’s capital and global connectivity.” Leonard Tay added, “With space and cost pressures in Singapore, the JS-SEZ offers businesses room to grow whilst staying connected to their headquarters and markets.”

Knight Frank continues to support investors and developers navigating the JS-SEZ, offering services such as strategic land sourcing and cross-border advisory. The full research paper is available for download on Knight Frank’s website.
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Palo Alto Networks has announced two innovative security solutions designed to help enterprises navigate the evolving quantum computing landscape. These solutions aim to provide businesses with enhanced visibility, agility, and defences to secure workloads across multicloud and AI environments. The announcement was made on 21 August 2025, highlighting the company’s commitment to addressing the growing risks posed by quantum computing and AI.

The new offerings include the Quantum Readiness Dashboard, which provides complete visibility and control over cryptographic risk posture, and the industry’s first cipher translation, enabling applications to be upgraded to quantum-safe encryption. Additionally, Palo Alto Networks has introduced 14 new 5th-generation Next-Generation Firewall models, optimised for post-quantum cryptography processing.

Anand Oswal, Senior Vice President and General Manager of Network Security at Palo Alto Networks, stated, “The quantum threat to encryption is no longer theoretical; it’s an inevitability that demands action now.” This sentiment underscores the urgency for enterprises to adopt quantum-ready solutions.

The company also unveiled advanced multi-cloud and AI network security capabilities, including continuous risk assessment for cloud and AI assets and automatic deployment of security measures. These innovations are part of the PAN-OS 12.1 Orion software upgrade, which aims to streamline operations and eliminate security blind spots.

The announcement has been well-received by industry leaders, with Pete Finalle from IDC noting the importance of ‘crypto agility’ in addressing quantum threats. As organisations continue to expand their digital infrastructures, Palo Alto Networks’ latest solutions offer a robust defence against emerging cybersecurity challenges.
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