Industry News

JTC has awarded the tender for the industrial site at Plot B Tukang Innovation Drive to Fusion Land Pte. Ltd. The successful bid was valued at $95.188m. The tender process, which began on 29 July 2025, concluded on 9 September 2025, attracting three bids in total.

The awarded site, located at Plot B Tukang Innovation Drive, is zoned for Business 2 activities. It spans an area of 18,722.2 square metres and comes with a tenure of 33 years. The site has a gross plot ratio of 2.5, and the project is expected to be completed within 60 months.

This development is significant as it highlights the ongoing demand for industrial spaces in Singapore, particularly in areas designated for business and innovation. The successful bid by Fusion Land underscores the company’s commitment to expanding its footprint in the industrial sector.

The award of this tender is part of JTC’s broader strategy to facilitate industrial growth and innovation in Singapore. By providing well-planned industrial spaces, JTC aims to support businesses in enhancing their operational capabilities and contributing to the country’s economic development.

Fujifilm is set to launch its innovative creative hub, Fujifilm X Space, at Suntec City Mall on 16 October. The grand opening will feature a range of activities, including a lion dance performance and a Kagami Biraki sake barrel breaking ceremony, symbolising new beginnings and prosperity. The event will be attended by Haruto Iwata, managing director of Fujifilm Asia Pacific, who will deliver the opening address.

The Fujifilm X Space aims to provide an immersive experience for visitors, showcasing the full range of Fujifilm’s imaging products. A highlight of the space is a stunning art installation by a local artist, designed to inspire creativity and innovation. Interactive zones will allow guests to explore and engage with Fujifilm’s latest technologies.

Fujifilm’s new hub at Suntec City is expected to become a focal point for photography enthusiasts and professionals alike, offering a unique blend of art and technology. The opening of Fujifilm X Space signifies the company’s commitment to fostering creativity and innovation in the imaging industry.

Aon plc has released its 2025 Salary Increase and Turnover Study, projecting a 5.3% salary growth for Southeast Asia in 2026. The study, conducted between July and September 2025, analysed data from over 700 businesses across Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Despite the overall moderate growth, Singapore and Thailand are expected to trail behind regional peers in salary increases.

The study highlights that the life sciences and medical devices industry in Singapore is set to see a 4.6% salary increase, whilst the technology sector in Vietnam and Indonesia is projected to lead with 7.1% and 5.9% increases, respectively. In Malaysia, the consulting business and community services industry is anticipated to see a 4.8% rise.

Rahul Chawla, partner and head of Talent Solutions for Southeast Asia at Aon, noted the dual priorities for organisations: retaining top talent and managing rising compensation costs. “Balancing rising compensation costs with the need for agility is key,” he said, emphasising the importance of leveraging real-time market data and total rewards strategies.

Attrition rates remain a concern, with the Philippines and Singapore expected to have the highest turnover rates at 20% and 19.3%, respectively. The study also found that 42% of businesses face challenges in hiring or retaining employees, with skills gaps prevalent in information technology, engineering, and sales roles.

Evon Lock, head of data solutions for Southeast Asia at Aon, remarked on the cautious optimism among organisations, which plan to maintain or modestly grow their workforce despite hiring pressures. The demand for roles in sales, information technology, artificial intelligence, and cybersecurity is rising, reflecting a shift towards digital and risk-focused capabilities.

Inconsistent quality assurance and control (QA/QC) standards are significantly impacting the construction industry across ASEAN, according to a new report by PlanRadar. The Construction QA/QC Impact Report 2025 highlights that 77% of firms experience inconsistent QA/QC documentation, leading to rework and project delays. The findings, based on responses from 811 construction professionals across Europe, the Middle East, and Asia-Pacific, underscore the urgent need for standardised QA/QC processes.

The report reveals that companies with systematic QA/QC are 28% more likely to maintain margins above 3%. In Singapore, 100% of respondents cited inconsistent QA/QC as a cause of project delays, whilst 85% of Malaysian respondents reported rework due to inconsistent standards on major infrastructure projects. These inefficiencies are particularly critical in Singapore, where land scarcity and tight timelines exacerbate the impact of delays.

Avtandil Mekudishvili, APAC Regional Lead at PlanRadar, emphasised the need for digital and standardised QA/QC processes to enhance productivity and profitability. “Our research shows that inconsistent QA/QC remains one of the biggest barriers to productivity and profitability in the region,” he stated. PlanRadar’s platform aims to address these challenges by embedding QA/QC into daily workflows, using digital tools to document and streamline processes.

The report suggests that consistent, digital QA/QC standards are essential for delivering safe, sustainable, and profitable projects across ASEAN. As the construction landscape evolves, the industry must adapt to maintain competitiveness and meet the demands of rapid urbanisation and large-scale projects.

Apar Technologies, a global leader in consulting and technology services, has announced a strategic investment in Medeon, a rapidly growing Singapore-based company specialising in ServiceNow and artificial intelligence (AI) consulting. This partnership is set to bolster Apar’s enterprise workflow and digital transformation offerings, whilst enabling Medeon to extend its market presence globally.

Medeon, known for its expertise in ServiceNow and AI, is led by former ServiceNow and Google AI leaders. The company offers a range of services, including strategic consulting, product implementations, and managed services, all designed to optimise enterprise workflows and deliver measurable business outcomes. The collaboration with Apar Technologies is expected to simplify operations and accelerate efficiencies for clients, ensuring a faster time-to-value and stabilisation of underperforming environments.

Rohit Gandhi, Group CEO of Apar Technologies, stated, “This strategic investment reflects our commitment to expanding Apar’s digital transformation portfolio and delivering greater value to our global clients.” Sai Sudhakar, Co-Founder and CEO of Apar Technologies, added that the partnership uniquely positions the companies to provide comprehensive workflow transformation solutions for enterprise and government customers.

Avinash Vastrad, CEO of Medeon, expressed enthusiasm about the collaboration, noting that it allows Medeon to extend its innovative ServiceNow solutions to new markets and industries. “Together, we will help enterprises unlock measurable value from their ServiceNow investments and shape the future of intelligent AI-driven workflows,” Vastrad said.

With this investment, Apar Technologies and Medeon are poised to deliver smarter workflows, enhanced efficiency, and impactful business transformation for organisations worldwide.

AM Best has elevated the Financial Strength Rating of MS First Capital Insurance Limited (MSFC) in Singapore to A+ (Superior) from A (Excellent) and its Long-Term Issuer Credit Rating to “aa-” (Superior) from “a+” (Excellent). The outlooks have also been revised to stable from positive, reflecting the company’s robust balance sheet, strong operating performance, and effective enterprise risk management.

The upgrade is attributed to MSFC’s improved balance sheet strength, bolstered by a prudent capital management strategy. The company’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, was at its strongest at the end of 2024 and is expected to remain stable. Over the past decade, MSFC has significantly increased its capital size, with shareholders’ equity reaching S$1.4 b by the end of 2024, up from S$501.1m in 2014.

MSFC’s operating performance is considered strong, with a return-on-equity ratio of 14.2% in 2024, supported by solid underwriting and investment results. The company’s conservative investment portfolio, primarily consisting of cash, term deposits, and high-quality bonds, contributes to its financial stability. Despite a high reliance on reinsurance for large risks, the credit risk is mitigated by the good credit quality of its reinsurance partners.

As a dominant non-life insurer in Singapore, MSFC maintains a neutral business profile with a well-diversified underwriting portfolio across Asia. The company benefits from strong branding, technical expertise, and long-standing relationships with brokers and reinsurers, enhancing its access to quality business. The ratings also reflect the support from its parent company, Mitsui Sumitomo Insurance Company Limited, part of the MS&AD Insurance Group Holdings, Inc.

Asia-Pacific has slipped from third to fourth place globally in fraud protection, according to the latest Global Fraud Index released by Sumsub, a leader in verification and anti-fraud solutions. The region now trails Europe, the Middle East, and the Americas, with countries like Singapore, Japan, Indonesia, and Malaysia experiencing significant declines in their rankings. This drop highlights the growing gap between rapid digital growth and the implementation of effective fraud prevention measures.

Despite the overall decline, Singapore stands out by leading globally in the Government Intervention pillar, reflecting its commitment to building a robust anti-fraud infrastructure and fostering public-private collaboration. New Zealand, Singapore, and Australia are among the top Asia-Pacific countries most protected against fraud, with New Zealand ranking seventh globally.

Penny Chai, Vice President of APAC at Sumsub, noted that the findings “underscore the unique challenges faced by APAC’s fast-growing digital economies, where rapid innovation is increasing exposure to sophisticated fraud.” The Index, which benchmarks fraud exposure and government responses across 112 countries, combines Sumsub’s internal verification data with insights from external sources like the World Bank and Transparency International.

In response to these challenges, Sumsub will host its inaugural What The Fraud (WTF) Summit in Singapore from 19 to 20 November 2025, aiming to advance public-private collaboration on fraud prevention. This event will bring together regional experts to discuss compliance trends and strategies to bolster fraud defences in the Asia-Pacific region.

Westcon-Comstor, a global technology provider, has announced an expanded distribution agreement with cybersecurity firm CrowdStrike to bring the AI-native CrowdStrike Falcon platform to Singapore. This partnership aims to address the growing demand for cybersecurity consolidation and cloud-native security solutions in the region. The collaboration will enable Westcon-Comstor’s network of resellers to drive the adoption of CrowdStrike’s platform, which is designed to combat AI-driven threats and digital complexities.

The agreement extends Westcon-Comstor and CrowdStrike’s partnership in Southeast Asia, adding Singapore to existing agreements in Indonesia, Malaysia, and Thailand. Westcon-Comstor will offer CrowdStrike’s leading security solutions, including Endpoint Security and Falcon Cloud Security, to its partners and customers, alongside new enterprise and SMB clients. The partnership will also leverage Westcon-Comstor’s expertise in cybersecurity and value-added services, such as technical enablement and data-led insights.

Jacquie Young, Managing Director, Cloud, APAC, at Westcon-Comstor, highlighted the importance of the partnership, stating, “Singapore’s digitalisation drive has raised the bar for infrastructure and cybersecurity, putting pressure on businesses to modernise quickly.” She emphasised the role of Westcon-Comstor in helping businesses consolidate their security and create revenue opportunities for channel partners.

Girsih Gargeshwari, Senior Director, Distribution and Alliances, CrowdStrike Asia Pacific and Japan, noted that the partnership would strengthen CrowdStrike’s channel reach and partner-first strategy in the region. The collaboration aims to accelerate the adoption of the Falcon platform, enabling partners to reduce security complexity and costs whilst preventing breaches.

Westcon-Comstor was recently named the 2024 CrowdStrike Global Distributor Partner of the Year, recognising its success in promoting the Falcon platform across EMEA and APAC.

FairPrice Group (FPG) has become the first organisation in Singapore to receive approval from the Land Transport Authority (LTA) to operate autonomous vehicles (AVs) on public roads for supply chain operations. In collaboration with Zelos Technology, FPG plans to integrate nearly 30 AVs into its fleet, aiming to automate routine tasks such as transporting goods between distribution centres.

The partnership with Zelos marks a significant step in FPG’s strategy to enhance its supply chain efficiency and sustainability. The Zelos Z10 AVs, which are fully electric and driverless, boast a load capacity of up to 1.5 tonnes and a range of 210km. These vehicles are expected to reduce FPG’s CO2 emissions by 27 tonnes annually and free up staff for more complex tasks.

Vipul Chawla, Group CEO of FairPrice Group, highlighted the initiative’s role in supporting Singapore’s supply resilience. “Through this initiative with Zelos, we are bolstering our capability to support the nation’s supply resilience by introducing innovation that makes our supply chain operations more efficient, sustainable, and digitally-enabled,” he stated.

The initiative is part of FPG’s broader efforts to ensure a sustainable and digitally-enabled supply chain, which includes expanding its electric vehicle fleet to over 160 by 2030. Terry Zhou, Managing Director of Zelos Technology, noted the deployment as a milestone in Zelos’s global expansion, emphasising its potential to reduce logistics costs and enhance transportation capacity in Singapore.

Enterprise Singapore facilitated the collaboration, underscoring the potential for greater productivity and sustainability in the logistics sector. This development paves the way for exploring more commercially viable use cases within the industry.

Xiaomi is set to open its largest store in Singapore at Jewel Changi Airport on 11 October 2025. The 203-square-metre store will be the company’s 10th in Singapore, offering over 400 Stock Keeping Units (SKUs) that include smartphones, smart home products, and ecosystem devices. A highlight of the store is a new “Smart Home” section showcasing popular home appliances like air conditioners, refrigerators, and washing machines.

The store’s opening marks a significant milestone for Xiaomi as it introduces its “Human x Car x Home” concept to both local and international customers. As of Q2 2025, Xiaomi has established around 200 stores globally, excluding China, and plans to expand to over 15 stores by the end of 2025 and more than 20 by the end of 2026. The store will also host various activities such as photography exhibitions and workshops.

To celebrate the opening, Xiaomi is offering exclusive promotions on 11 and 12 October. Customers can enjoy 50% off on the Xiaomi Mix Flip and the Xiaomi Robot Vacuum E10, with limited units available each day. Other promotions include discounts on the Xiaomi Smart Band 9 and a free REDMI Pad Pro with the purchase of a Xiaomi 15 Ultra.

This expansion into smart home appliances is part of Xiaomi’s global strategy, which has already seen strong sales in Southeast Asia. Since March 2025, over 10,000 units of appliances have been sold in the region, including more than 8,500 air conditioners. The new store at Jewel Changi Airport will further enhance Xiaomi’s presence and offer customers an integrated experience with its ecosystem.