Industry News

Henkel, a global leader in industrial and consumer goods, has consolidated its operations at the Singapore Science Park, establishing a new innovation hub. This strategic move brings together Henkel’s Global Supply Chain Hub, Adhesive Operations Digital team, and the Academy of Hair under one roof, enhancing its service capabilities across Asia-Pacific and beyond.

The new facility, located at Geneo, Singapore Science Park, features an expanded Adhesives Application Engineering Laboratory. This lab supports customers in sectors such as general manufacturing, maintenance, and electronics. Mark Dorn, Executive Vice President of Adhesive Technologies, stated, “The opening of our new Singapore office underscores Henkel’s commitment to building a strong, future-ready foundation in Asia Pacific.”

Henkel’s hub is set to play a pivotal role in the company’s global operations. Thomas Holenia, President of Henkel Singapore, noted that the hub will act as a “critical control tower” for Henkel’s businesses, integrating supply chain, innovation, and digital capabilities to better serve customers and accelerate market solutions.

The facility also houses the Henkel SEA Electronic Adhesives Technical Centre, which supports key growth segments like semiconductors and consumer electronics across Southeast Asia. The centre has consistently grown year-on-year, offering advanced capabilities such as material characterisation and failure analysis.

Additionally, the Academy of Hair provides a platform for professional learning in the hair industry, offering courses in colouring, cutting, and salon management. This initiative aims to empower professionals and foster a connection with the wider hair community.

Henkel’s move to Singapore Science Park marks a significant step in its 40-year presence in Singapore, reinforcing its commitment to innovation and sustainable solutions in the region.

ST Telemedia Global Data Centres (STT GDC) has launched Southeast Asia’s first High Voltage Direct Current (HVDC)-powered AI infrastructure testbed, the FutureGrid Accelerator, at Nanyang Technological University (NTU) Singapore’s Electrification and Power Grids Centre. This initiative, officiated by Minister of State for Foreign Affairs and Trade & Industry, Gan Siow Huang, marks a significant step in Singapore’s digital and energy transition efforts.

The FutureGrid Accelerator, developed in collaboration with LITEON and supported by NTU’s Energy Research Institute and deep-tech spinoff Amperesand, aims to demonstrate HVDC integration with AI workloads. This technology promises up to 30% energy savings compared to traditional systems and a reduction of up to 400 tonnes of CO2 equivalent per megawatt annually. It also supports ultra-high-density racks and is compatible with renewable energy sources.

In addition to the testbed, STT GDC has signed Memoranda of Understanding with four Institutes of Higher Learning, including the Institute of Technical Education and Singapore Polytechnic, to enhance skills development in AI and sustainable energy systems. These partnerships are expected to benefit over 8,000 Singaporeans in the next five years through training and internships.

Bruno Lopez, President and CEO of STT GDC, stated, “The FutureGrid Accelerator is a strategic investment in Singapore’s long-term digital leadership.” This initiative is set to reinforce Singapore’s position as a global hub for advanced sustainable digital infrastructure and energy transition.

Rex International Holding Limited has announced a strategic move to raise S$7.6m through the placement of new and treasury shares, alongside the issuance of free detachable unlisted warrants. The company entered into agreements with Eagle Harbor Multi-Strategy Master Fund Limited and BB Special Opportunities Fund Ltd on 26 January 2026 to facilitate these investments.

The company plans to issue 40,082,930 new ordinary shares and place 13,187,000 treasury shares at S$0.143 per share. This placement price reflects an 8.917% discount to the volume-weighted average price of S$0.157 on the Singapore Exchange (SGX) as of the agreement date. Additionally, Rex will issue 53,269,930 warrants, allowing investors to subscribe for new shares at an exercise price of S$0.177, a 12.74% premium over the average trading price.

The funds raised will be split between Eagle Harbor, contributing S$4.4m and BB, providing S$3.2m. The company will apply for the listing of these shares and warrants on the SGX Mainboard. The placement is non-underwritten, and SF Partners Limited, an independent introducer, facilitated the investor introductions, earning a 3% fee on the gross investment value.

The issuance will not alter the controlling interest in Rex International. The shares and warrants will be issued under a general mandate approved by shareholders in April 2025, allowing the company to issue up to 20% of its shares on a non-pro-rata basis. The completion of these investments is contingent upon regulatory approvals and other conditions being met by 31 March 2026.

Singapore’s Lien Foundation and Tan Tock Seng Hospital have launched the Lien Collaborative for Palliative Care in Beijing, a three-year initiative designed to enhance palliative care capabilities in the Chinese capital. This programme seeks to address the challenges posed by ageing populations and the increasing demand for patient-centred care in both countries.

The initiative aims to train more than 1,000 Chinese healthcare professionals and improve palliative care delivery across at least eight institutions in Beijing. It supports China’s national efforts to expand palliative care by tackling issues such as the shortage of trained specialists and the lack of public awareness.

Key components of the programme include the development of online teaching modules for medical professionals, biannual Train-the-Trainer workshops, and fortnightly Online Complex Case Conferences. Additionally, a four-week Clinical Observership Programme in Singapore will offer selected Chinese doctors clinical training and exposure to Singapore’s palliative care ecosystem. The programme will also produce public advocacy videos to encourage end-of-life discussions.

Participating institutions in Beijing include Peking Union Medical College Hospital, Beijing Haidian Hospital, and Sereniturn Palliative Care. These institutions will collaborate to develop treatment protocols and practice guidelines tailored for China.

The initiative also provides an opportunity for Singaporean doctors to learn from Chinese experts about Traditional Chinese Medicine and humanistic care models for end-of-life treatment. This exchange of knowledge is expected to foster long-term policy and ecosystem reform in palliative care.

SC Capital Partners, a prominent Asia Pacific real estate investment manager, has initiated construction of a significant Grade A industrial park in Ras Al Khaimah, United Arab Emirates. This development marks the firm’s first project under the SC GCC Real Estate Industrial Development Fund (GRID), co-sponsored with CapitaLand Investment Limited. The industrial park, located in the Ras Al Khaimah Economic Zone, spans approximately 300,000 square metres and incorporates sustainability features such as water-saving systems.

The project aims to meet the growing demand from high-tech manufacturers and logistics firms for modern, high-specification facilities in the UAE. Interest from potential tenants has already surpassed the planned gross floor area, highlighting the demand for institutional-quality industrial assets in the region. Suchad Chiaranussati, Chairman and Founder of SC Capital Partners, stated, “Breaking ground on this project is a tangible demonstration of our ability to convert strategy into execution in the GCC.”

SC Capital Partners has also appointed Yazan Masri as Managing Director, Investments (Middle East). Based in Abu Dhabi, Masri will lead the firm’s investment and business development activities across the Middle East. He brings over 20 years of experience in real estate private equity and principal investing, having held senior roles at Abu Dhabi Capital Group and Al Mal Capital PSC.

Masri expressed enthusiasm about his new role, saying, “I am pleased to join SC Capital Partners as it breaks ground on its first GCC industrial park.” His appointment is expected to strengthen SC Capital Partners’ leadership as it expands its Middle East platform and investments in GRID and other regional strategies.

Singapore’s inflation rate is expected to rise to 1.5% in 2026, according to RHB Bank’s latest Global Economics and Market Strategy Report. The forecast, attributed to Barnabas Gan, Group Chief Economist and Head of Market Research at RHB Bank, highlights three key factors influencing this trajectory: favourable economic conditions, private consumption support, and global commodity price fluctuations.

Currently, both headline and core Consumer Price Index (CPI) figures remain steady at 1.2% year-on-year, consistent with RHB’s and Bloomberg’s estimates. This stability follows an average headline and core inflation rate of 0.9% and 0.7%, respectively, in 2025.

The report underscores the importance of monitoring global commodity prices, which could impact inflation rates. As Singapore navigates these economic factors, the forecasted inflation rate reflects a balance between domestic economic strength and external influences.

Looking ahead, RHB Bank’s analysis suggests that Singapore’s inflation will remain manageable, with economic conditions and consumption patterns playing pivotal roles. The bank’s previous report, released on 16 January, expressed optimism about export prospects in 2026, further supporting a stable economic outlook.

OCBC has announced the formation of a dedicated securities financing unit, marking it as the first Singapore bank to do so. This initiative aims to enhance the bank’s offerings for institutional clients. Jansen Chua, an industry veteran with over 25 years of experience, has been appointed as the Head of Securities Finance, effective 2 January 2026. Chua will report to Kenneth Lai, Head of Global Markets.

The new unit will focus on mobilising lendable securities, including equities and fixed income, from OCBC’s clients and subsidiaries such as OCBC Securities, Bank of Singapore, and Great Eastern. This move is designed to meet the increasing global demand for securities financing, allowing clients to earn fee income by lending their idle securities.

The demand for securities financing has surged globally, driven by a focus on balance sheet efficiency and optimisation. According to EquiLend Data & Analytics, global securities lending revenues reached a record $15.3b in 2025. Buy-side firms are seeking partners to optimise liquidity, meet collateral obligations, and implement hedging strategies in volatile markets.

Chua joins OCBC from State Street Bank & Trust Company, where he was Senior Managing Director and Head of Financing Solutions for Asia Pacific. His extensive experience spans the US, Europe, the Middle East, Africa, and Asia-Pacific, making him well-suited to lead this strategic initiative.

This development positions OCBC to better support its institutional clients in executing trading and hedging strategies, meeting settlement obligations, and optimising capital usage.

Mapletree Investments and Mapletree Pan Asia Commercial Trust have appointed SP Group to design, build, and operate a Distributed District Cooling (DDC) system in Singapore’s HarbourFront Precinct. This initiative is part of Mapletree’s strategy to rejuvenate the area and enhance energy efficiency, aligning with their commitment to achieving net zero emissions by 2050.

The DDC system will interconnect five buildings, including Bank of America HarbourFront and VivoCity, to improve cooling efficiency and reduce costs. With a cooling capacity of 17,150 refrigeration tonnes, the system is expected to save over 5% in cooling-related expenses annually and cut carbon emissions by about 13,700 tonnes over 20 years. This reduction is equivalent to the emissions from powering 550 three-room HDB households annually.

Amy Ng, Regional CEO of Mapletree, highlighted the project’s benefits, stating, “This allows assets in the precinct to achieve better space utilisation and shared savings whilst Mapletree embeds green solutions across our portfolio.”

Sharon Lim, CEO of MPACT Management Ltd., added that the project supports collective sustainability goals.

The DDC system will be implemented in two phases starting in 2027, with full operation expected by 2031. This marks Singapore’s second brownfield DDC deployment, following a successful implementation at Tampines Central. The project underscores the potential for DDC systems to enhance energy efficiency in mature districts, contributing to Singapore’s climate objectives.

Singapore’s core Consumer Price Index (CPI) experienced a notable rebound in December 2025, rising by 0.4% month-on-month, according to UOB Global Economics and Markets Research. This increase follows a slight decline of 0.1% in November and translates to a 1.2% year-on-year rise, aligning with Bloomberg’s consensus but slightly below UOB’s forecast of 1.3%.

The uptick in core CPI was largely attributed to holiday-related demand, with significant contributions from sectors such as clothing and footwear, other transport services, food, and recreation. Notably, airfares surged by 10.4% month-on-month, reflecting a stronger-than-seasonal increase. Land transport services also saw a rise, partly due to a 5% hike in bus and train fares effective from 27 December 2025.

Headline CPI increased by 0.3% month-on-month in December, driven by the same core components, whilst accommodation costs remained stable and private transport costs decreased. Despite the momentum, UOB notes that much of the increase is temporary, with limited signs of a broad-based price pickup.

UOB maintains its 2026 core and headline inflation forecasts at 1.5%, with potential upward risks due to a reduction in the Certificate of Entitlement (COE) supply and a 3% decline in household electricity tariffs for the first quarter of 2026. The Monetary Authority of Singapore (MAS) is expected to update its inflation forecasts in the upcoming Monetary Policy Statement on 29 January, with potential adjustments to the core and headline inflation forecast ranges.

Oracle has announced a collaboration with Digital Industry Singapore (DISG) to advance the Enterprise Compute Initiative (ECI), aiming to accelerate AI adoption across industries in Singapore. The initiative, supported by the Oracle AI Customer Excellence Centre, will help companies establish in-house AI teams or AI Centres of Excellence (CoEs).

Oracle is committing up to S$250,000 per company to empower 300 Singapore-based organisations through Oracle Universal Credits, training, certification, and discovery workshops. Additionally, Oracle will sponsor up to S$1.9m for enterprises requiring private cloud infrastructure, enabling access to Oracle Private Cloud Appliance and Oracle Exadata. This effort, combined with the Singapore Government’s support covering 70% of consultancy costs, aims to lower barriers and enable enterprises to adopt AI at scale.

Philbert Gomez, senior vice president and executive director of DISG, stated, “This collaboration will accelerate companies’ AI ambitions in Singapore, strengthening our position as a global AI hub.”

The initiative is designed to help organisations train teams, test innovations in secure cloud environments, and transform critical business operations. Oracle’s executive vice president, Garrett Ilg, highlighted the transformative power of AI, saying, “AI is transforming everything from how organisations operate to how people learn and innovate.”

Oriental Remedies, a leading Traditional Chinese Medicine clinic chain, is among the companies exploring partnerships with Oracle through the ECI. Beatrice Liu, CEO and Co-Founder of Oriental Remedies Group, expressed enthusiasm for the collaboration, aiming to enhance patient experience and automate processes.

This partnership underscores Singapore’s commitment to becoming a global AI hub, fostering innovation and competitiveness through technology.