Industry News

Fuel Incorporation Pte Ltd, a prominent diesel supplier in Singapore, has announced its strategic expansion into the international oil brokerage and bunkering sectors. This move marks a significant milestone for the company, which has been a key player in Singapore’s fuel supply chain. By extending its operations globally, Fuel Incorporation aims to tap into the trillion-dollar global oil market, facilitating large-scale transactions of refined petroleum products, including low sulphur 10ppm gas oil EN590.

The company has developed an international brokerage platform that connects verified buyers and sellers of refined oil products. This platform leverages Fuel Incorporation’s longstanding industry relationships and compliance standards, ensuring secure and efficient transactions. Additionally, the company is enhancing its bunkering services to support marine and offshore fuel needs, thereby broadening its client base across logistics, shipping, and energy-related industries.

A crucial aspect of Fuel Incorporation’s global strategy is its integration of trade finance support. The company maintains robust banking relationships to facilitate Documentary Letters of Credit, ensuring smooth execution of international transactions and reducing counterparty risk. A company spokesperson stated, “Our expansion into international oil brokerage represents a natural evolution of our business. With our operational experience, industry credibility, and banking connectivity, we are well-positioned to support cross-border fuel transactions with speed, transparency, and reliability.”

Fuel Incorporation’s expansion underscores its transition from a domestic diesel supplier to an international energy trading platform, reinforcing Singapore’s role as a strategic hub for global oil and fuel commerce.

Singapore’s property insurance market is set to expand significantly, with gross written premiums (GWP) expected to rise from S$1.3b (US$973.2m) in 2026 to S$1.6 billion (US$1.2b) by 2030, according to GlobalData. The projected compound annual growth rate (CAGR) of 6.4% is attributed to resilient property values, ongoing development, and digital distribution advancements.

The growth is underpinned by infrastructure and housing projects, as well as the adoption of embedded insurance and faster claims disbursement. Swarup Kumar Sahoo, a Senior Insurance Analyst at GlobalData, noted, “The pipeline of new projects, rising residential values, sustained luxury demand, and investment in public infrastructure will continue to drive the growth of property insurance in Singapore.”

The luxury housing segment has seen a notable increase, with transactions valued at $5m and above rising by over 20% in Q3 2025 compared to the previous year. This trend signals a demand for higher-limit home policies. Additionally, regulatory changes, such as the increased holding period and seller stamp duty, are expected to encourage long-term ownership and comprehensive home insurance.

Digital distribution is accelerating sales, with online insurance markets poised for further growth through 2026. This includes instant policy issuance and AI-enhanced underwriting. Sahoo added, “Real-time payments infrastructure is enabling faster claims payouts after incidents, improving customer experience and trust.”

The rise in residential fires highlights the need for optional home contents policies to avoid underinsurance. As Singapore’s property insurance market continues on its growth trajectory, insurers focusing on digital innovation and climate resilience will be well-positioned to capture premium growth and protect margins.

NetLink NBN Management Pte. Ltd., the Trustee-Manager of NetLink NBN Trust, has announced its financial results for the nine months ending 31 December 2025, showing a 1.6% increase in revenue compared to the same period last year. Despite this growth, the company’s EBITDA saw a marginal decline of 0.6%.

The revenue increase, amounting to an additional $4.9m, was primarily driven by higher non-Regulated Asset Base (RAB) revenue, particularly from ancillary projects. However, the number of residential and non-residential connections experienced a slight decrease, with figures dropping from 1,517,326 to 1,517,049 and from 53,454 to 52,574, respectively. In contrast, Non-Building Address Points (NBAP) connections rose from 3,065 to 3,556, and segment connections increased from 3,832 to 4,244.

The decline in EBITDA, amounting to $1.4m, was attributed to increased operating expenses, notably higher property tax for Seletar Central Office and elevated IT-related costs. Additionally, the Profit After Tax (PAT) fell by $8.8m due to higher depreciation from an expanded asset base and increased net finance costs, although this was partially offset by a higher income tax credit.

NetLink NBN Trust, listed on the Singapore Exchange since July 2017, continues to play a crucial role in Singapore’s Nationwide Broadband Network, providing extensive fibre network infrastructure across the country. The company’s financial performance underscores its resilience amidst fluctuating connection numbers and rising operational costs.

Singapore Airlines (SIA) and Malaysia Airlines have formalised a strategic joint business partnership, following regulatory approvals from the Civil Aviation Authority of Malaysia and the Competition and Consumer Commission of Singapore. This collaboration, announced on 29 January 2026, aims to enhance connectivity and offer greater flexibility for customers travelling between the two countries.

The partnership will be implemented progressively, featuring initiatives such as revenue-sharing flights, joint fare products, coordinated flight schedules, and joint corporate travel arrangements. This move is expected to strengthen both airlines’ operations and deliver enhanced value to customers across their combined networks.

Datuk Captain Izham bin Ismail, Group Managing Director of Malaysia Aviation Group, stated that this partnership is a step forward in the Group’s Long-Term Business Plan 3.0, positioning Malaysia Airlines for future growth. “This collaboration brings together complementary frequencies and aligned schedules, enabling deeper connectivity between Malaysia and Singapore,” he said.

Goh Choon Phong, CEO of Singapore Airlines, expressed gratitude to the authorities in both countries for their approvals, which pave the way for this strategic partnership. “Our win-win collaboration strengthens both carriers’ operations, whilst delivering enhanced value to customers across our combined networks,” he noted.

Since their initial agreement in October 2019, the airlines have expanded their codeshare arrangements, allowing for greater connectivity between key destinations. Additionally, in February 2024, both carriers introduced reciprocal cross-participation in their frequent flyer programmes, enabling members to earn and redeem points on selected flights.

This partnership not only reinforces the long-standing ties between Singapore and Malaysia but also supports economic growth and connectivity, benefiting both nations.

Great Eastern has unveiled the GreatLink Singapore Physical Gold Fund, marking Singapore’s first physical gold investment-linked policy fund. This innovative fund provides customers with a secure means to incorporate physical gold into their long-term financial strategies. The fund allows investors to gain exposure to physical gold bars, which are securely stored in Singapore and insured up to their full value.

The fund invests directly in the LionGlobal Singapore Physical Gold Fund, managed by Lion Global Investors Limited. The gold backing the fund adheres to the London Bullion Market Association (LBMA) standards or is approved by the Monetary Authority of Singapore. This initiative aims to offer portfolio diversification and enhance resilience across market cycles.

Greg Hingston, Group CEO of Great Eastern, emphasised the importance of diversification in uncertain times, stating, “By offering physical gold exposure within our investment-linked solutions, we are giving wealth-planning and protection-focused customers an additional way to strengthen the resilience of their portfolios.”

The GreatLink Singapore Physical Gold Fund is available through selected Great Eastern investment-linked plans. Customers interested in this offering can visit Great Eastern’s website or consult with a financial representative.

This launch positions Great Eastern as the first financial services provider in Singapore to offer physical gold within a structured, insurance-based proposition. By collaborating with Lion Global Investors Limited, both part of the OCBC Group, Great Eastern integrates institutional-grade investment capabilities into its customer-centric financial planning solutions.

RE&S Enterprises, a prominent Singapore-based Japanese food and beverage group, has successfully modernised its core business systems by migrating key applications onto the Nutanix Cloud Platform. This strategic move supports brands such as Mister Donut, Kuriya Dining, and Ichiban Sushi across over 70 outlets in Singapore and Malaysia. The transition aims to enhance system performance and prepare the company for future AI-driven capabilities.

The migration to Nutanix has resulted in a 73% reduction in the company’s hardware footprint, significantly improving system uptime and performance whilst reducing operational overheads. Adrian Tan, Senior Manager of IT at RE&S Enterprises, noted, “Nutanix gave us the ability to modernise, scale for future growth, and maintain high application performance without the disruption issues we had been experiencing.”

With the new platform, RE&S Enterprises plans to deepen its use of data analytics to guide decision-making and enhance customer experiences. The company is now well-positioned to introduce advanced analytics and AI-driven capabilities, ensuring a stable foundation for future growth.

The streamlined setup provided by Nutanix has simplified management and strengthened the resilience of business-critical systems. “Our users can retrieve data faster and work without interruption, and the IT team no longer faces the stress of recovering failed servers,” Tan added.

Ho Chye Soon, Singapore Country Manager at Nutanix, praised RE&S Enterprises for building a future-ready foundation that not only strengthens uptime but also accelerates innovation. This modernisation effort underscores the company’s commitment to maintaining high standards of food consistency and quality whilst pursuing strategic innovation.

ECICS Limited, a leading general insurer in Singapore, is celebrating over 50 years of providing comprehensive insurance solutions. Established in 1975, the company has evolved from a government-backed initiative into a trusted provider of personal and business insurance, adapting to the changing needs of Singaporeans. Chief Executive Officer Choi Kin Seng stated, “For more than five decades, we have grown with Singapore, adapting to new challenges and opportunities whilst staying true to our mission of safeguarding individuals, families, and businesses.”

Since its inception, ECICS has played a pivotal role in shaping Singapore’s insurance landscape. Initially focused on supporting local businesses, the company has expanded its offerings to include a wide range of personal insurance solutions. These include Private Motor Car Insurance, Home Contents Insurance, Maid Insurance, and Personal Accident Insurance, each tailored to meet the needs of different life stages.

The company is also introducing new incentives, such as special benefits for electric vehicle owners and innovative options like the “BuyupNCD” add-on, which allows customers to jumpstart their No Claim Discount on renewal. ECICS’s refreshed brand identity, featuring a new logo inspired by the Red Dot, symbolises Singapore’s resilience and progress.

As ECICS looks to the future, it remains committed to innovation and customer-centric solutions, ensuring peace of mind and financial security for its clients. The company continues to provide trusted solutions for businesses, safeguarding them against unforeseen risks. With over 50 years of experience, ECICS aims to remain a reliable insurance partner for generations to come.

Gold has experienced a remarkable surge, rising over 25% this year and 22% in the past five days alone. OCBC’s latest commentary, led by analyst Afdhal Rahman, highlights the structural factors behind this rally, including persistent geopolitical tensions and policy unpredictability. However, OCBC warns investors not to get swept away by the excitement, as the recent rapid increase in gold prices could lead to near-term pullbacks.

The demand for gold has broadened beyond central banks to include institutional and retail investors, reflecting a structural revaluation of the precious metal. OCBC Research has revised its end-2026 gold forecast to US$5,600 per ounce, citing sustained structural demand. Despite this, the recent parabolic rise in gold prices appears overheated, with the metal trading at extremely overbought levels.

Rahman advises investors to maintain a disciplined approach, suggesting a 5% strategic allocation to gold and staggering entry points rather than chasing the rally. “Gold is no longer just a crisis hedge or an inflation hedge; it is increasingly viewed as a neutral and reliable store-of-value asset,” OCBC Research notes.

The commentary also highlights the potential benefits of a softer US Dollar, which could favour other asset classes such as Asia ex-Japan equities and emerging market bonds. As the gold market continues to evolve, OCBC urges investors to tread carefully and not let their portfolios become overly reliant on a single narrative.

The 3rd Changi Aviation Summit, taking place from 1 to 2 February 2026, will see around 350 government and industry leaders from over 50 countries gather in Singapore. The summit aims to address the challenges and opportunities in the aviation sector amidst a rapidly changing global environment. With air travel demand projected to nearly triple in the next 25 years, the summit provides a crucial platform for dialogue among ministers, directors-general, and CEOs from airlines, airports, and air navigation services.

Acting Minister for Transport Jeffrey Siow will open the summit with a keynote address, marking his first appearance at the event since taking office. The newly elected President of the International Civil Aviation Organisation (ICAO) Council, Toshiyuki Onuma, will also deliver his inaugural international address. The summit, themed “Rising Above Disruption: Building the Aviation Ecosystem of Tomorrow,” will feature discussions on growth, technology, and connectivity.

The Civil Aviation Authority of Singapore (CAAS) plans to sign nine agreements focusing on sustainability, innovation, and human capital development. These agreements aim to enhance the competitiveness of Singapore’s air hub, which handled a record 70 million passengers in 2025. A significant initiative includes the introduction of a Sustainable Aviation Fuel (SAF) Levy from 1 October 2026, alongside a voluntary SAF procurement trial.

The summit will also host a Sustainable Aviation Forum and an Innovation Symposium, featuring industry leaders from companies such as Airbus, Boeing, and Thales. These events will explore the potential of SAF and the role of technology in transforming aviation. Additionally, Singapore will collaborate with ICAO on a global leadership programme, furthering its commitment to nurturing future aviation leaders.

EPG, a Singapore-based modular data centre provider, has successfully raised nearly $100m in its Series B financing round. The funding, co-led by Forebright and Silicon Peak, with contributions from GL Ventures, NRL Capital, YF Capital, and Rockets Capital, will bolster EPG’s capacity expansion and global growth. This follows the company’s Series A and A+ rounds in 2025, which laid the groundwork for its current phase of development.

Founded in 2004, EPG specialises in factory-prefabricated integration of power, IT, and cooling systems. The company aims to address the growing efficiency challenges in the global data centre industry, particularly in regions like Southeast Asia and Europe, where local supply chain weaknesses and skilled labour shortages extend construction cycles and increase costs. EPG’s modular data centre solutions (MDC) shift construction activities to the factory, allowing for rapid onsite installation and commissioning.

EPG’s approach is supported by manufacturing hubs in Johor Bahru and Shanghai, and in-house technologies such as cold-plate liquid cooling systems and self-developed diesel generator sets. These innovations enable EPG to achieve a Power Usage Effectiveness (PUE) below 1.3, facilitating faster, more reliable, and cost-efficient data centre deployment.

Alick Wan, EPG’s Founder, Chairman, and CEO, stated, “This Series B financing reflects strong confidence from leading global investors. Looking ahead, we will continue to invest in R&D, manufacturing, and global delivery capabilities to support fast, reliable data centre deployment for customers worldwide.”

EPG’s strategic expansion is poised to meet the increasing demands of AI-driven workloads, enhancing its ability to deliver high-power-density data centres on a global scale.