Industry News

Trend Micro has unveiled Scam Radar, an innovative AI-powered feature within its ScamCheck app, designed to tackle the escalating threat of online scams in Singapore. This new tool offers real-time scam detection and alerts, empowering users to act swiftly and prevent potential financial losses. According to Trend Micro’s 2025 online scams survey, three in five Singapore residents have faced online scam attempts, with one in three reporting they had been affected.

Scam Radar leverages global threat intelligence to analyse content and behavioural cues, identifying coordinated scam tactics. This approach allows users to protect themselves from various scams, including fast-money schemes and fake retail promotions. Ashley Millar, Consumer Education Director at Trend Micro, emphasised the importance of a multi-layered approach to online safety, stating, “With Scam Radar, Trend Micro ScamCheck becomes a valuable digital ally, providing practical protection and peace of mind for every digital interaction.”

The survey also highlighted that scams affect all age groups, with the “sandwich generation”—adults aged 35-55—being particularly vulnerable due to time pressures and emotional stress. Despite the risks, many Singaporeans rely on intuition and scepticism, which can falter under stress or manipulation.

Scam Radar’s key features include deepfake detection, SMS filtering, safe browsing, and real-time alerts. The app is available for download on the App Store and Google Play, offering comprehensive protection by utilising global scam data. As scammers increasingly use advanced technologies, tools like Scam Radar are crucial in safeguarding digital interactions.
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Clifford Capital, a Singapore-based infrastructure credit platform, has successfully closed a five-year loan facility of up to A$355m for Octa Group. This financing aims to bolster Octa’s growth in providing lower carbon energy solutions, particularly in remote mining operations across Australia.

The funding will support Octa’s expansion in lorryed liquefied natural gas (LNG), renewables, and hybrid power. Octa, backed by global infrastructure investor I Squared Capital, focuses on accelerating the decarbonisation and energy transition for hard-to-abate industries. Clifford Capital is joined by National Australia Bank and Sumitomo Mitsui Banking Corporation as lenders in this facility.

Audra Low, Group Head of Client Coverage at Clifford Capital, expressed enthusiasm for the partnership, stating, “We are delighted to have the opportunity to support Octa in putting in place the infrastructure needed to help their customers gain access to lower carbon energy. This transaction reinforces our continued focus on enabling real economy impact through bespoke infrastructure financing solutions.”

Basil Lenzo, CEO of Octa, highlighted the significance of the funding, saying, “We are thrilled to have the support of Clifford Capital as we enter our next phase of growth. This funding will allow us to accelerate our efforts in domestic lorryed LNG to displace diesel generation including the renewables and thermal hybrid power sector in the region.”

This strategic financing underscores Clifford Capital’s commitment to supporting sustainable energy initiatives and enhancing infrastructure development in key sectors. As Octa progresses with its expansion plans, the collaboration is set to contribute significantly to the energy transition in Australia.
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Asia’s trading card game (TCG) community is set for a transformation with the launch of TCG Unite, the region’s first comprehensive marketplace app, debuting on 30 August at SingPost Centre, Singapore. The app aims to address challenges such as fraud and the lack of a unified trading hub by offering a secure platform for buying, selling, and tracking card values.

TCG Unite’s app features a buy-and-sell marketplace, portfolio value tracking, and access to current card pricing data from multiple trusted sources. It also integrates logistics solutions with DHL and SingPost, and plans similar arrangements in Japan and Malaysia to facilitate cross-border trading. Enhanced security measures include Singpass KYC verification for Singapore-based sellers by the end of 2025.

The app’s launch event is expected to draw over 700 attendees, featuring a Card Show with app-exclusive discounts. Mango Teo, Chief Operations Officer of TCG Unite, stated, “As TCG enthusiasts ourselves, we thoroughly understand the pain points faced by various subcommunities. That drives us to make TCG trading more secure and accessible with fairer prices across the board.”

Founded by a team with extensive experience in multinational corporations and entrepreneurial ventures, TCG Unite aims to create a trusted, inclusive, and borderless trading environment. The app not only serves as a marketplace but also fosters community growth through local tournaments, verified giveaways, and educational content across Southeast Asia and beyond.
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Solix Technologies and Singapore-based Mindmap Technologies have announced a strategic partnership aimed at advancing enterprise data management solutions throughout the Asia-Pacific (APAC) region. This collaboration seeks to leverage the strengths of both companies to address the growing demand for efficient data management in businesses across APAC.

The partnership will focus on integrating Solix’s expertise in data archiving and management with Mindmap’s proficiency in delivering innovative technology solutions. By combining their resources, the two companies aim to provide comprehensive data solutions that enhance operational efficiency and data governance for enterprises in the region.

The collaboration is expected to address key challenges faced by businesses, including data compliance, storage optimisation, and improved data accessibility. Solix Technologies is renowned for its robust data management platforms, whilst Mindmap Technologies brings a wealth of experience in implementing cutting-edge technology solutions.

This partnership marks a significant step in the ongoing digital transformation efforts within the APAC region, where businesses are increasingly seeking advanced solutions to manage their growing data needs. As the collaboration unfolds, it is anticipated that enterprises will benefit from enhanced data management capabilities, leading to improved business outcomes.
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ELFIGO Mobility has launched the Ultra-Lite Carbon V2, the world’s lightest electric wheelchair, weighing only 10 kilograms. This groundbreaking innovation aims to enhance mobility for users by offering a lightweight yet robust solution. The wheelchair’s design incorporates advanced carbon fibre technology, ensuring durability without compromising on weight.

The Ultra-Lite Carbon V2 is set to revolutionise the market for electric wheelchairs, providing users with greater ease of transport and manoeuvrability. Its lightweight nature makes it particularly beneficial for those who frequently travel or require a portable mobility solution. The wheelchair’s compact design allows for easy folding and storage, making it convenient for users and carers alike.

According to ELFIGO Mobility, the Ultra-Lite Carbon V2 is not only the lightest but also one of the most technologically advanced wheelchairs available. The use of carbon fibre, a material known for its strength and lightness, is a key factor in achieving this milestone. The company emphasises that this innovation is a significant step forward in improving the quality of life for individuals with mobility challenges.

The launch of the Ultra-Lite Carbon V2 marks a significant advancement in the field of mobility aids, offering a practical and efficient solution for users worldwide. As ELFIGO Mobility continues to push the boundaries of innovation, the introduction of such lightweight technology is expected to set a new benchmark in the industry.
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Entrepreneur Allen Law is set to launch MORROW, a 38,000 sq ft wellness centre in Singapore, marking a significant step in his mission to extend human healthspan. The centre, located at Longevity World on Coleman Street, will open in Q4 2025. Law has invested $156m (S$ 200m) to establish MORROW, with $20m (S$ 20m) allocated for the initial setup and technology.

MORROW aims to make high-quality wellness services accessible beyond the ultra-wealthy, utilising AI and technology to offer personalised health plans. The centre will provide a comprehensive diagnostic assessment to tailor individual health strategies, supported by expert coaching and advanced technologies such as AI wearables and continuous monitoring.

The initiative is part of a broader $8t longevity revolution, identified by UBS as a key transformational opportunity alongside AI. MORROW’s AI platform will not only personalise services but also contribute to global research by collaborating with universities to analyse anonymised lifestyle data.

The leadership team includes experts like Dr Miina Öhman, a specialist in cardiometabolic disease, and Chief Technology Officer Yaron Turpaz, who brings expertise in genomics and precision health. The centre will also feature shared consultations and community engagement activities to empower individuals in managing their health.

Allen Law, also the CEO of MORROW, emphasised the importance of shifting towards sustainable healthcare with a focus on prevention. He stated, “MORROW will promote a model of lifelong health where wellbeing is maintained and restored through science, human connection, and innovation.”

Early bookings for MORROW will commence in September 2025, as the centre prepares to transform health and wellness accessibility in Singapore and beyond.
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Connexa Sports Technologies and Singapore-based JuCoin Capital have announced a $500m partnership to establish aiRWA, a next-generation cryptocurrency exchange. This collaboration aims to bridge the gap between traditional finance and the digital economy by focusing on real-world asset (RWA) tokenisation. The agreement also includes plans to launch a new stablecoin, USDR, in Asia.

The aiRWA platform will leverage the strengths of both companies, combining JuCoin’s expertise in digital finance with Connexa’s experience in traditional finance. The exchange will offer deep liquidity, advanced cross-chain technology, and institutional-grade security. It will support multi-asset trading, including non-fungible tokens (NFTs), decentralised finance (DeFi) tokens, and derivatives.

Hongyu Zhou, Chairman of Connexa, stated, “This partnership reflects our shared vision for a more interconnected, efficient, and secure global financial ecosystem.” The initiative aims to enhance the options and experiences for cryptocurrency users by integrating real-world assets with blockchain technology.

In addition to the exchange, the partnership will focus on expanding the stablecoin sector. With the global stablecoin market exceeding $240b, the launch of USDR aims to facilitate cross-border payments and settlements. JuCoin’s Director, Qi Wang, emphasised the importance of regulatory compliance and technological advancement in this endeavour.

The collaboration also includes developing cryptocurrency index funds, blockchain-themed ETFs, and AI-driven financial technology. Both companies are committed to maintaining security, transparency, and regulatory compliance as they explore further innovations in digital finance.
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Singapore’s Consumer Price Index (CPI) data for July has shown a continued easing of inflation, reinforcing the possibility of the Monetary Authority of Singapore (MAS) loosening its monetary policy. Market Analyst Josh Gilbert from eToro highlighted that the cooling inflation trend, coupled with anticipated moderated growth in the latter half of the year, supports the case for further easing in October as a precaution against potential growth risks.

Gilbert noted that whilst the MAS held its stance in July, the recent softer inflation figures suggest that inflation is no longer the primary concern it once was. “The conversation is shifting from bringing inflation under control to supporting growth,” he stated, indicating a potential change in focus for the central bank.

The analyst also drew parallels with the US Federal Reserve’s cautious approach, which has remained on hold this year whilst assessing tariff impacts. Gilbert pointed out that MAS has already eased monetary policy twice earlier this year, suggesting that allowing time for these measures to take effect whilst awaiting further clarity is a sensible strategy. However, he emphasised that the latest data makes it increasingly challenging for MAS to justify inaction.

As Singapore navigates these economic conditions, the upcoming decisions by MAS will be closely watched, with implications for both domestic growth and the broader economic landscape.
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RHB Bank’s latest Global Economics and Market Strategy Report, authored by Barnabas Gan, Group Chief Economist and Head of Market Research, reveals that Singapore’s inflation remains subdued, prompting the bank to maintain its full-year headline and core inflation forecasts at 1.2% and 0.9%, respectively, for 2025. The report anticipates that the Monetary Authority of Singapore (MAS) will likely keep its policy parameters unchanged in the upcoming October review, although there is a possibility of adjustments to the Singapore dollar nominal effective exchange rate (S$NEER) slope and band width.

In July 2025, Singapore’s headline Consumer Price Index (CPI) slowed to 0.6% year-on-year, down from 0.8% in June, falling short of RHB’s and Bloomberg’s estimates of 0.8%. Core inflation also edged lower to 0.5% year-on-year from 0.6% in June. These figures highlight the benign inflationary environment in Singapore, which supports the bank’s decision to maintain its forecast.

Gan’s report suggests that whilst the MAS is expected to hold its current policy stance, there remains a possibility for the S$NEER slope to flatten or the band’s width to widen from the current perceived +/- 2.0%. This cautious approach reflects the ongoing monitoring of economic conditions and inflationary pressures.

As Singapore navigates through the rest of 2025, the subdued inflation rates provide a stable backdrop for economic planning and policy adjustments. The upcoming MAS policy review in October will be closely watched for any potential changes in response to evolving economic indicators.
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Epicsoft Asia, an indirect subsidiary of GCL Global Holdings, has completed its compulsory acquisition of Ban Leong Technologies Limited, leading to Ban Leong’s delisting from the Singapore Exchange on 26 August 2025. This move marks a significant milestone for Ban Leong, a leading distributor of technology products across Asia for over 30 years.

Ban Leong, known for distributing IT accessories, gaming components, and smart IoT devices, has been an authorised distributor for over 50 globally recognised brands, including Razer, Nvidia, and Samsung. The acquisition by Epicsoft Asia is expected to unlock new opportunities and fuel innovation, according to Ban Leong’s Managing Director, Ronald Teng. “This acquisition marks a significant milestone in our 30-year journey, enabling us to leverage GCL’s global ecosystem expertise and distribution network to accelerate growth,” Teng stated.

Sebastian Toke, Group CEO of GCL, expressed enthusiasm for the acquisition, highlighting the potential synergies and expanded sales channels. “Today we celebrate the completion of the entire deal and officially welcome Ban Leong’s talented team to the GCL family,” Toke said. He added that the combination of strengths is expected to result in significant synergies, including operational efficiencies and new revenue streams.

The acquisition aligns with GCL’s vision to build a fully integrated gaming ecosystem across Asia, with plans to introduce branded gaming devices and expand B2C offerings. As the companies move forward, they aim to enhance market positioning and generate value for customers through innovation and collaboration.
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