Industry News

Singapore’s startup ecosystem witnessed a significant boost in September 2025, with a 14% increase in funding compared to the previous month, according to the latest report by Tracxn. The report, which tracks business activities in Singapore and Hong Kong, noted that whilst Hong Kong saw no deals, Singapore’s vibrant market continues to attract investors.

The report revealed that the total funding amount for Singapore startups reached $1.2b in September, driven by substantial investments in technology and healthcare sectors. Tracxn’s Manager of PR and Corporate Communications, Sahib Mendiratta, emphasised the importance of these sectors, stating, “The technology and healthcare industries are pivotal in driving Singapore’s innovation landscape.”

Key investments included a $300m funding round for a leading fintech company and a $200m injection into a health-tech startup. These investments underscore the confidence investors have in Singapore’s ability to foster innovative solutions and maintain its status as a regional hub for startups.

The report also highlighted the growing interest in sustainable technologies, with several green-tech startups securing significant funding. This trend aligns with Singapore’s commitment to sustainability and its strategic initiatives to support green innovation.

Looking ahead, the continued growth in funding and investor interest suggests a promising future for Singapore’s startup ecosystem. As the city-state strengthens its position as a leading innovation hub, further investments in emerging technologies are expected to drive economic growth and development.

The Singapore Institute of Technology (SIT) has inaugurated the SIT x NVIDIA AI Centre (SNAIC) at its Punggol Campus, marking a significant step in advancing artificial intelligence (AI) innovation and talent development. The centre, launched on 2 October 2025, was officiated by Minister for Digital Development and Information, Josephine Teo, and aims to bolster Singapore’s AI workforce and foster cross-border collaboration.

SNAIC is a joint initiative between SIT and NVIDIA, focusing on applied AI research and innovation. It aims to accelerate AI adoption across industries and nurture a robust pipeline of AI talent. The centre will support SIT’s new Applied AI Doctoral Training Centre, which plans to train 10 Industrial Doctorate students annually.

Key initiatives include the SNAIC AI Programme, developed with the Infocomm Media Development Authority (IMDA), which seeks to train over 200 AI practitioners over the next three years. This programme offers a six-month course combining intensive AI training and hands-on projects with industry partners.

Strategic partnerships have been established with companies like SMRT and Prudential, as well as international universities such as Monash University, Chulalongkorn University, and VNU-UEL. These collaborations aim to drive cross-border research and innovation, enhancing the application of AI in various sectors.

Kiren Kumar, Deputy Chief Executive of IMDA, highlighted the importance of combining industry expertise with academic excellence to prepare learners for real-world AI challenges. The initiatives at SNAIC are expected to significantly contribute to Singapore’s digital economy by developing a skilled AI workforce.

Retail sales in Singapore experienced a 5.2% increase in August 2025 compared to the same month last year, according to the latest data from the Singapore Department of Statistics. Excluding motor vehicles, the growth was slightly lower at 4.6%. However, the food and beverage services sector saw a small decline, with sales dropping by 0.4% compared to August 2024.

The rise in retail sales indicates a positive trend for the sector, suggesting a recovery in consumer spending. This growth is significant as it reflects the economic resilience amidst global uncertainties. The exclusion of motor vehicles from the data highlights the underlying strength in other retail segments.

Conversely, the slight dip in food and beverage services sales may point to changing consumer habits or external factors affecting the sector. The decline, although minor, suggests that the industry might need to adapt to evolving market conditions to sustain growth.

The Singapore Department of Statistics continues to provide valuable insights through its Monthly Retail Sales and Food & Beverage Services Indices, offering a comprehensive overview of the economic landscape. These indices are crucial for businesses and policymakers to understand market dynamics and make informed decisions.

NUHS@Home, the National University Health System’s (NUHS) innovative hospital-at-home programme, is expanding its reach to provide hospital-level care to more patients in the community. Celebrating its fifth anniversary on 3 October 2025, NUHS announced that the programme now includes referrals from community care teams and selected nursing homes in Singapore’s western region.

Since its mainstream launch in 2024, NUHS@Home has cared for approximately 200 patients referred from the community, addressing conditions such as pneumonia and urinary tract infections. This expansion allows more patients to receive necessary care without hospital admission.

The programme, which began in September 2020 with three virtual beds, has grown to 100 beds and aims to quadruple to 400. To date, nearly 7,000 patients have benefitted, saving over 42,000 hospital bed days. Dr Stephanie Ko, NUHS@Home Lead, highlighted the programme’s success, stating, “NUHS@Home was first developed as a community-based alternative to staying in the hospital.”

NUHS@Home now offers over 30 care pathways, including post-transplant and post-operative care. Recent expansions include services for bone marrow transplant patients and post-surgery recovery. Future plans involve extending services to mental health and paediatrics, with a goal to integrate more nursing homes by 2027.

The Formula 1 Singapore Airlines Singapore Grand Prix 2025 has achieved the second-highest attendance in its 16-year history, drawing 300,641 fans over the weekend. This marks an 11.7% rise from last year’s 269,072 attendees, despite recent changes to the track due to the redevelopment of The Float at Marina Bay. Singapore GP Pte Ltd responded to the increased demand by adding nine new grandstands and three hospitality facilities.

The event, renowned for its night racing, also introduced new thematic lifestyle precincts and expanded food and beverage options to enhance the fan experience. The entertainment line-up was a major draw, with 65,000 fans attending nightly performances by G-DRAGON and Foo Fighters, and a special appearance by Sir Elton John.

In addition to its popular success, the Grand Prix has been recognised for its environmental efforts. The FIA renewed the event’s Certificate of Three-Star Level within its Environmental Accreditation Framework, acknowledging Singapore GP Pte Ltd’s commitment to reducing the event’s environmental impact whilst delivering a positive experience.

Looking ahead, the Formula 1 Singapore Grand Prix will introduce a Sprint Race in 2026, promising more excitement for fans. The event continues to be a highlight of the motorsport calendar, combining thrilling racing with world-class entertainment at the Marina Bay Street Circuit.

ENNOVI has announced a strategic expansion beyond its traditional automotive focus, aiming to harness the growing trends of electrification and artificial intelligence (AI) across various industries. The company, known for its innovative battery and powertrain solutions, plans to apply its core connectivity capabilities to a wider market, enhancing its role in creating smarter and more sustainable technologies.

The decision marks a significant shift for ENNOVI, which has built a reputation as a trusted partner in the automotive sector, particularly in developing solutions for mild 48V hybrids and battery electric vehicles. The company’s advanced signal connectivity systems have also been instrumental in advancing autonomous driving technologies. By expanding its focus, ENNOVI seeks to apply these competencies to other sectors, facilitating the electrification and AI transformation beyond automotive.

Stefan Rustler, CEO of ENNOVI, stated, “Our ‘Beyond Automotive’ strategy is a natural evolution for ENNOVI. By leveraging our innovation, speed, and global reach, we are set to empower customers to follow the electrification and AI megatrends across diverse industries.”

This strategic move is expected to position ENNOVI as a key player in the broader technological landscape, capitalising on its existing strengths to drive innovation in new areas. As industries increasingly adopt electrification and AI, ENNOVI’s expansion could lead to significant advancements in how these technologies are integrated and utilised across various sectors.

NTT DATA has announced a strategic collaboration with Amazon Web Services (AWS) to deliver AI-powered, industry-specific contact centre solutions using Amazon Connect. This partnership aims to accelerate the adoption of AI-driven customer experience (CX) solutions globally, enhancing personalisation and operational efficiency across various sectors.

The collaboration will see the launch of NTT DATA’s Managed Customer Experience (MCX) for Connect platform, which combines over 30 years of CX expertise with AWS’s cloud-native capabilities. This platform promises faster time-to-value, personalised interactions, and data-driven engagement experiences. It will cater to industries with complex customer lifecycles, such as financial services, healthcare, telecommunications, and retail.

Key features of the collaboration include AI-powered CX solutions that integrate Amazon Connect’s AI features into the MCX platform. This integration will enable more personalised and efficient customer interactions through conversational AI agents, real-time sentiment analysis, and predictive service capabilities. Additionally, the partnership will leverage NTT DATA’s core CX intellectual property, including real-time speech analytics and the Smart AI Agent Ecosystem, to support the adoption of cloud-based contact centre solutions.

Sashen Naidu, Global VP of Customer Experience at NTT DATA, stated, “This strategic collaboration agreement with AWS represents a pivotal moment in our mission to modernise customer experiences for the AI-first era.” The collaboration is set to launch immediately, with joint solutions expected to be available to clients in the coming months.

UOB Kay Hian’s latest financial updates reveal a mixed performance across Asian markets, with Bank Rakyat Indonesia (BBRI) experiencing a 9.9% year-on-year decline in earnings for the first eight months of 2025. The bank’s pre-provision operating profit fell by 4.4%, impacted by lower yields and increased operational expenses. Despite a modest 5.8% growth in loans, driven by corporate and consumer sectors, micro loans continued to contract. The bank maintains a “hold” rating with a target price of Rp4,250, supported by a 7.9% dividend yield.

In Malaysia, the banking sector remains robust despite macroeconomic headwinds. August statistics indicate steady loan growth at 5.4%, improved asset quality with gross impaired loans at historical lows, and healthy liquidity levels with a loan-to-deposit ratio below 90%.

Meanwhile, VS Industry in Malaysia reported disappointing results due to operational challenges and cost-cutting measures. However, the company remains optimistic about narrowing losses by March 2026. The valuation appears attractive at 13.0 times FY26 forecast price-to-earnings ratio, maintaining a “buy” rating with a target price of RM0.76.

In Singapore, real estate investment trusts (REITs) are poised to benefit from a shift in US monetary policy towards easing, which is expected to lower debt costs and expand yield spreads. UOBKH recommends buying blue-chip S-REITs, including CLAR, CLAS, KDCREIT, KREIT, and LREIT.

In Thailand, Krungthai Card is projected to report a slight increase in Q3 2025 net profit, supported by efficient asset quality control and anticipated government stimulus. Thanachart Capital, however, is expected to see a decline in quarterly net profit due to seasonal factors, though long-term improvements are anticipated from Q4 2025.

Guzman y Gomez, the popular Mexican fast-food chain, is set to launch a limited-edition butter chicken filling as part of its GYG Goes Local series. This new offering will be available from 14 October to 23 November 2025, showcasing a unique fusion of Singaporean and Mexican culinary traditions. The butter chicken filling, featuring a creamy blend of tomato, butter, and traditional Indian spices, can be enjoyed in various GYG favourites, including burritos, bowls, tacos, and quesadillas.

For the first time, the butter chicken sauce will also be offered as a top-up for just $1, making it a perfect addition to GYG’s popular Chipotle Fries and Nacho Fries. This initiative aims to cater to local tastes whilst maintaining the brand’s signature Mexican flair.

The introduction of this new flavour is part of Guzman y Gomez’s strategy to reimagine homely favourites with bold local flavours. The company is keen to provide its customers with an authentic taste experience that resonates with Singaporeans.

As part of the launch, Guzman y Gomez is offering media drops to select offices, allowing recipients to be among the first to sample this exclusive flavour. This limited-time offering is expected to attract both loyal customers and new patrons eager to try the innovative blend of flavours.

INFINITIX Inc, a leader in GPU resource management and AI infrastructure, is set to demonstrate its cutting-edge AI solutions in collaboration with Graid Technology Inc at Tech Week Singapore 2025. The event, taking place on 8–9 October at Marina Bay Sands, will feature their joint innovation, “The Unified AI Infrastructure of Compute and Storage,” at Booth V20 in the Big Data & AI World zone.

The centrepiece of the exhibition is INFINITIX’s AIStack platform, which integrates MLOps and GPU resource management to address inefficiencies in enterprise AI workflows. AIStack promises to enhance GPU utilisation to over 90%, accelerate workload execution by tenfold, and reduce environment setup time to just one minute. Key features include a Rapid Container Service built on Kubernetes and a High-Performance Computing engine powered by Elastic Distributed Training, enabling efficient parallel processing of large datasets.

Graid Technology’s SupremeStore complements AIStack with its next-generation AI HPC storage solution. Featuring a dual-controller high-availability design and integrated with SupremeRAID SR-1010 and BeeGFS, SupremeStore eliminates storage IO bottlenecks, offering up to 80GB/s throughput and linear scalability.

WenYu Chen, CEO of INFINITIX, highlighted the significance of this collaboration: “As AI adoption accelerates, the disconnect between compute and storage has become the primary bottleneck to innovation. Our unified infrastructure developed with Graid Technology directly solves this challenge.”