Industry News

Retail sales in Singapore experienced a modest increase of 0.7% in August 2026 compared to the same month last year, according to the Singapore Department of Statistics. This growth follows a 1.3% rise in July. In contrast, the food and beverage (F&B) services sector saw a 1.6% decline year-on-year, extending the 1.9% drop observed in July.

The total retail sales value for August was estimated at $4.5b, with online sales accounting for 15.7% of this figure. Excluding motor vehicles, parts, and accessories, retail sales rose by 1.6%, with online sales making up 18.2% of the $3.8b total. Notably, the computer and telecommunications equipment industry saw a significant online sales proportion of 63.7%.

Within the retail sector, cosmetics, toiletries, and medical goods, along with computer and telecommunications equipment, recorded notable year-on-year growth of 11.2% and 10.7%, respectively. However, sales of motor vehicles, parts, and accessories fell by 4.6%, whilst watches and jewellery saw a 2.7% decline.

The F&B services sector’s total sales value was $1.7b, with online sales contributing 20.6%. Fast food outlets and food caterers experienced growth of 7.8% and 2.9%, respectively. Conversely, cafes, food courts, and other eating places reported declines, with cafes seeing a 5.3% drop.

These figures highlight the ongoing challenges and shifts within Singapore’s retail and F&B sectors, with online sales continuing to play a significant role in overall performance.

Mitsubishi Heavy Industries Asia Pacific (MHI-AP) has received an order from Singapore’s Land Transport Authority (LTA) for eight additional two-car trains for the Sengkang-Punggol Light Rapid Transit (SPLRT) system. This order, announced on 5 October 2026, will increase the total number of trainsets to 33, aiming to meet the rising transportation demand in the rapidly developing northeastern districts of Singapore.

The SPLRT, operational since 2003, connects the Mass Rapid Transit (MRT) North East Line’s Sengkang and Punggol stations to surrounding residential areas. MHI Group has been integral to the SPLRT’s development, providing trains and systems since its inception and continuing with after-sales services and system upgrades. The latest order follows a previous contract in May 2023 for eight trainsets, part of a broader project initiated in January 2022 to enhance the system’s capacity.

The Sengkang and Punggol districts have experienced significant growth, with increased residential development and the expansion of commercial facilities. This growth has led to a rise in LRT ridership, necessitating the additional trainsets to ensure efficient and convenient transportation for residents. “The strong operational track record and high quality of the trains, together with MHI’s attentive handling of the operator’s various requests for improvements, were highly valued by LTA,” stated MHI.

MHI plans to continue leveraging its transportation system technologies and project management capabilities to support the SPLRT’s further development, ensuring safe and reliable services for Singapore’s commuters.

OCBC Securities has observed a significant rise in trading activity among its younger clientele, with a 60% year-on-year increase in trades by investors aged 30 and under as of 30 September 2026. This surge is attributed to the strong performance of Singapore equities and is expected to continue with upcoming changes to board lot sizes on the Singapore Exchange (SGX).

From 5 October 2026, SGX will reduce the board lot size from 100 units to 10 units for stocks priced above S$10, and from 100 units to 1 unit for stocks priced above S$100. This change will initially apply to 11 stocks priced above S$10. In conjunction with this, OCBC Securities will permanently eliminate minimum commissions for all SGX online trades, making it more affordable for young investors to participate in the market.

Wilson He, Managing Director of OCBC Securities, noted, “This year’s market performance has clearly caught young investors’ attention, and it’s encouraging to see that interest translate into participation. Our permanent removal of minimum commission on SGX online trades gives them even more flexibility to trade in smaller amounts.”

The data indicates that young investors at OCBC Securities prefer to trade more frequently with smaller amounts, focusing on affordability and lower transaction costs. Among the top 10 traded shares by young investors this year, seven were priced under S$10, with the remaining three being local banks.

The removal of minimum commissions and smaller board lot sizes will also benefit other investor segments, particularly those holding odd lots accumulated through scrip dividend schemes. Approximately a quarter of OCBC Securities’ clients hold Singapore shares in odd lots, which will now be easier to sell.

Singapore’s retail investors are showing strong support for technology investments, particularly in artificial intelligence (AI), according to a recent survey by trading platform etoro. The survey, which included 1,000 Singapore-based retail investors, revealed that 30% plan to increase their investments in technology, significantly higher than the 20% global average. This marks the fifth consecutive quarter that technology has been the top sector for investment in Singapore.

Despite this enthusiasm for tech, investors are becoming more cautious about the Magnificent 7—seven major tech stocks. Whilst support for these stocks has decreased year-on-year, many investors are choosing to hold their positions rather than sell. Apple remains the most popular among these stocks, with 23% of investors planning to increase their allocation, although this is down from 29% last year.

Market Analyst Zavier Wong from etoro commented, “Despite everything that’s been happening on the geopolitical and macro front, tech has remained the sector that Singaporeans most want to add to. It is still a hot topic in the market and has only grown from strength to strength.”

The survey also highlighted a growing interest in domestic stocks, with 18% of investors indicating they are most likely to increase investments in local equities. This shift comes as confidence in the Singaporean economy rises, with 72% of investors expressing optimism, up from 68% last quarter.

As the tech sector continues to outperform, investors are keenly watching AI spending, which is expected to exceed $690 billion (US$690 billion) in 2026. However, many are waiting to see when this investment will translate into cash flow, opting to hold rather than expand their current positions.

The Singapore Registry of Ships (SRS) is set to bolster its capabilities with a new digital registration system, marking its 60th anniversary. Announced at the SRS Forum on 2 October 2026, the Maritime and Port Authority of Singapore (MPA) plans to launch this system in the first half of 2027. The system aims to streamline the registration process for shipowners and agents, integrating application submission to certificate issuance, and incorporating artificial intelligence to expedite processing times from days to mere minutes.

The SRS, established in 1966, has grown to over 4,400 vessels, reaching a record 137 million gross tonnage by the end of 2025. This positions Singapore as the world’s fourth-largest ship registry. The fleet is also the youngest among the top ten global registries, with an average vessel age of 11 years. The registry continues to excel under international standards, qualifying for the United States Coast Guard’s QUALSHIP 21 programme.

In response to the industry’s shift towards alternative fuels, the SRS has registered eight methanol-fuelled vessels since 2020 and anticipates its first ammonia dual-fuelled vessel next month. Additionally, 74 vessels from 28 companies have been recognised under MPA’s Green Ship Programme for exceeding environmental regulations.

The forum also celebrated local maritime talent, with 13 seafarers acknowledged under the Sail Milestone Achievement Programme (SailMAP). Since 2022, SailMAP has supported over 100 seafarers in advancing their shipboard skills, reinforcing Singapore’s maritime workforce.

Sygnum, a global digital asset banking group, has announced the availability of Fidelity International’s first tokenised liquidity solution in Singapore. This solution, issued on Sygnum’s Desygnate platform, is accessible to accredited and institutional investors through Sygnum Pte. Ltd., a Monetary Authority of Singapore (MAS)-licensed entity.

The tokenised liquidity solution offers regulated on-chain liquidity, publishing its Net Asset Value (NAV) on-chain, providing institutions with a transparent method to hold US dollar liquidity digitally. This marks a significant shift in cash management, as institutions increasingly move from traditional Treasury bills to tokenised solutions for enhanced transparency and on-chain settlement.

Emma Pecenicic, Head of Digital Assets Distribution at Fidelity International, stated, “There is no tokenised finance without tokenised liquidity. This is Fidelity International’s answer to that imperative – combining over 30 years of fixed income expertise with blockchain infrastructure built for the digital asset economy.”

The solution, first launched in Zurich in May 2026, has already attracted interest from asset managers, digital asset exchanges, and DeFi protocols. It has been assessed AAA-mf by Moody’s, highlighting its strong ability to meet capital preservation and liquidity objectives.

Reto Marx, CEO of Sygnum Singapore, emphasised Singapore’s readiness for such innovations, stating, “Making Fidelity International’s tokenised liquidity available through our MAS-licensed entity gives accredited and institutional investors in Singapore access to a high-quality way of holding liquidity on-chain.”

This development underscores the evolving landscape of institutional cash management, with tokenisation offering a new paradigm for holding and mobilising cash.

Far East Organisation has announced the launch of The Serra Residences, a new 28-storey freehold development located in Singapore’s Novena District 11. The development, comprising 133 exclusive units ranging from two-bedroom with study to five-bedroom premium residences, is set to begin public previews on 2 October 2026, with an official sales launch on 16 October 2026.

The Serra Residences is situated on a 51,396 square foot freehold site, making it one of the few freehold launches in the Core Central Region for 2026. The development is designed to offer a blend of privacy and community, with residences starting from Level 4 to maximise privacy and amenities including a 50-metre lap pool, tennis court, and gardens. Chief Operating Officer of Far East Organisation’s Sales and Leasing Group, Shaw Lay See, highlighted the project’s unique offering: “We saw an opportunity to create something seldom found in the city—an intimate community of 133 homes with the facilities of a much larger development.”

The architectural design of The Serra Residences draws inspiration from mountain terrain, featuring biophilic and climate-responsive elements. Architect Kingsley Ng of PT Consultants described the tower as “a sculpted urban landmark,” emphasising its integration with nature and the city skyline.

Located within a transforming lifestyle and healthcare precinct, The Serra Residences benefits from proximity to Novena’s amenities, including the upcoming HealthCity Novena and the 2 Moulmein Road lifestyle destination. The development is expected to receive its Temporary Occupation Permit in Q4 2030, offering a promising investment opportunity in a sought-after area.

Fullerton Fund Management and SGX Group have announced the second edition of the Fullerton/SGX Value-Up Singapore Equities Challenge, now open to the public for the first time. The competition invites Singaporeans and Permanent Residents aged 18 and above to test their investing skills on Singapore-listed small and mid-cap companies over an eight-week period, with cash prizes for top performers.

The Challenge, which initially launched in 2025 for students only, now includes an Open Category for the public alongside the returning Student Category. Participants will manage virtual portfolios of Singapore-listed securities, focusing on the small- and mid-cap segment. The initiative aims to foster disciplined investment habits and provide practical exposure to the equities market.

The Open Category, running from 7 December 2026 to 29 January 2027, allows individuals to compete using virtual portfolios. Cash prizes of S$3,000, S$2,000, and S$1,000 will be awarded to the top three participants. Meanwhile, the Student Category, open to full-time students in polytechnics or universities, offers team-based competition with cash prizes up to S$10,000 and potential internship opportunities.

Ken Goh, Chief Investment Officer at Fullerton, highlighted the growing interest in Singapore equities, stating the Challenge encourages participants to “identify and capture rising shareholder value.” Ng Yao Loong, Head of Global Financial Markets at SGX Group, emphasised the importance of understanding the breadth of the Singapore stock market.

Moomoo Singapore, a Supporting Partner, contributes educational content and supports youth talent development. Registration for both categories is open until 30 November 2026.

Farewell Funerals Pte Ltd has expanded its funeral services in Singapore by launching an online tribute option for bereaved families. This new service enables families to create a dedicated online memorial, allowing relatives and friends to access funeral details, photographs, and cherished memories of the deceased.

The online tribute is an optional addition to Farewell Funerals’ existing services, complementing traditional arrangements such as wakes, religious rites, and cremation or burial. It provides a convenient platform for families to communicate important details without the need for repeated notifications. This is particularly beneficial for relatives and friends who are unable to attend the wake, especially those residing overseas.

The tribute option offers varying levels of personalisation. Families can choose to include basic information such as the deceased’s name, photograph, and dates of birth and passing. For a more personalised memorial, families can add a life story, significant milestones, and a gallery of up to eight photographs. Additionally, a separate family message can be included, allowing relatives to share personal remembrances.

The service also serves a practical purpose by consolidating funeral-related information, such as wake locations, visiting hours, and cortege arrangements, into a single reference point. This ensures that attendees have all necessary details at their fingertips.

Farewell Funerals reviews all online tribute submissions before they go live, ensuring accuracy and clarity. This initiative reflects the company’s commitment to extending support beyond the physical wake, accommodating the needs of families with relatives and friends spread across different regions.

City Developments Limited (CDL) has reported a robust response to the launch of Lucerne Grand, a 570-unit residential project at Lakeside Drive, with 350 units sold over the launch weekend. Priced at an average of S$2,480 per square foot, the development attracted significant interest, particularly for its two, three, and four-bedroom premium units.

The sales, which began on 3 October 2026, saw 93% of buyers being Singaporeans, whilst the remaining 7% were Permanent Residents from countries including Malaysia, China, and India. Lucerne Grand’s appeal is enhanced by its direct link to Lakeside MRT station and proximity to the Jurong Lake District, Singapore’s largest mixed-use business district outside the city centre.

Sherman Kwek, CDL’s Group Chief Executive Officer, expressed satisfaction with the launch’s success, stating, “We are encouraged by the healthy response at Lucerne Grand, which reflects homebuyers’ appreciation for its distinctive combination of connectivity, convenience, and nature.”

Lucerne Grand is part of a mixed-use development featuring Lucerne Galleria, which will offer a supermarket and various retail options. The development’s strategic location provides easy access to major expressways and nearby educational institutions, making it a desirable choice for homebuyers and investors.

With prices starting at S$1.498m for a two-bedroom unit, the development offers modern amenities, including smart home features and quality appliances. As the Jurong region continues to evolve, Lucerne Grand is poised to benefit from the area’s growth and transformation.