Industry News

CSE Global Limited has announced a significant transaction with Amazon.com, Inc., involving the issuance of 62,968,580 new warrants. Each warrant grants the right to purchase one ordinary share in CSE Global at an exercise price of S$0.7671. This move, formalised on 10 November 2025, aims to bolster CSE Global’s financial position and support its operational expenditures.

The issuance is part of a broader commercial agreement between CSE Global and Amazon, with the potential to raise approximately S$48.3 million, assuming all warrants are exercised. The funds will be utilised to strengthen the company’s capital base and support ongoing operations. CSE Global has committed to providing updates on the utilisation of these proceeds, ensuring transparency and accountability.

The warrants, which are non-transferable except under specific conditions, are set to expire on 9 November 2030. They are subject to vesting based on qualifying payments by Amazon and its affiliates, with full vesting occurring upon reaching $1.5 billion (US$1.5 billion) in qualifying payments.

CSE Global, a systems integrator listed on the Singapore Exchange, has a strong presence across 15 countries and is known for its electrification, communications, and automation solutions. This partnership with Amazon underscores its commitment to leveraging strategic alliances for sustainable growth. The company will apply for the listing of the warrant shares on the SGX Mainboard, with further announcements to follow upon approval.

A collision occurred between the Singapore-registered passenger ferry, Horizon 9, and the Marshall Islands-registered tanker, La Digue, on 10 November at approximately 5pm off the Southern Islands. The Maritime and Port Authority of Singapore (MPA) confirmed the incident as the ferry was en route to HarbourFront Centre.

An MPA patrol craft was swiftly deployed to escort the ferry back to HarbourFront Centre. All 165 passengers and seven crew members aboard Horizon 9 were safely disembarked at the Regional Ferry Terminal. The ferry sustained damage to its bow above the waterline but remained operational. The tanker, La Digue, reported no damage.

There were no injuries or pollution resulting from the collision, and navigational traffic and port operations remained unaffected. The MPA is currently investigating the incident to determine the cause and prevent future occurrences.

The Straits Trading Company Limited, through its subsidiary Straits Real Estate Pte. Ltd., has announced a strategic partnership with Cromwell Property Group to enhance their industrial and logistics platform across Australia. Cromwell will acquire a 19.9% interest in Straits Real Estate’s Australian industrial portfolio for approximately $30.5m (A$47.6m), with the transaction set to occur in two phases.

The initial phase, expected to complete by 31 December 2025, involves Cromwell acquiring the 19.9% interest and purchasing Terre Property Partners Pty Ltd., which manages the portfolio. The second phase will involve a recapitalisation of the portfolio, anticipated to conclude in FY2026. This collaboration combines Cromwell’s operational expertise with Straits Trading’s institutional strength to drive long-term value creation.

The portfolio includes seven industrial assets in key logistics hubs across South Australia and Victoria, leased to major tenants such as Coca Cola Europacific Partners. These assets are strategically located in areas like Bayswater and Port Adelaide, benefiting from strong connectivity and demand.

Terre Property Partners will integrate into Cromwell’s platform, enhancing its capabilities and supporting its investment management growth. Straits Real Estate will remain an investor, backing future growth initiatives. Cromwell CEO Jonathan Callaghan stated, “By expanding our AUM and partnering with an institutional investor of Straits Trading’s calibre, we’re strengthening our platform.”

This partnership marks a significant step in optimising Straits Trading’s industrial portfolio and aligns with Cromwell’s strategy to reposition as a capital-light investment manager. The collaboration is expected to create new opportunities in sectors with long-term value.

Grab, the Southeast Asian superapp, has initiated a pilot programme in Singapore to enhance navigation accuracy for its driver- and delivery-partners using high-accuracy GPS positioning. Collaborating with Oppo, Qualcomm Technologies, and Swift Navigation, this marks the first deployment of such technology on mobile phones and app integration in Southeast Asia.

The pilot aims to address navigation challenges in Singapore’s dense urban environment, where high-rise buildings and multi-level roads can degrade standard GPS accuracy. By integrating advanced technology from its partners, Grab’s driver- and delivery-partners can now achieve lane-level accuracy, improving navigation efficiency and reducing cancellations.

Oppo’s Find N5 foldable phone, equipped with Dual Frequency GNSS, Qualcomm’s Snapdragon 8 Elite Mobile Platform, and Swift Navigation’s Skylark Precise Positioning Service, form the backbone of this initiative. These technologies work together to deliver real-time GPS correction signals, significantly enhancing location accuracy.

Nilofer Christensen, Head of Consumer Product at GrabMaps, stated, “Grab is the first to bring this level of precise positioning technology to ride-hailing in Southeast Asia.” The pilot, which began in October 2025, involves nearly 250 driver- and delivery-partners, with 60 receiving sponsored Oppo N5 devices.

For consumers, this means more accurate estimated arrival times and fewer delays. The pilot is a step towards Grab’s vision of lane-level navigation across Southeast Asia, promising smoother and more reliable journeys.

Dubai, New York, and Singapore have emerged as the leading destinations for high-net-worth individuals (HNWIs), according to the latest Savills HNWI Hotspot Index. These cities are celebrated for their pro-business environments, robust legal frameworks, and high-quality lifestyle offerings, making them attractive hubs for global wealth.

The index highlights Singapore and Abu Dhabi for their economic competitiveness and connectivity, whilst Dubai excels in international school provision. London, despite shifting tax regimes, remains the top lifestyle destination, underscoring its enduring appeal. The report also notes the prominence of Tokyo, Seoul, New York City, Paris, and London as top retail destinations for luxury brands.

Family offices are increasingly sophisticated, with over half of the top 100 by assets under management located in the US. The UK, Denmark, Singapore, and Germany also feature prominently. Singapore, Dubai, and Monaco are noted for favourable tax environments, lacking inheritance, capital gains, or wealth taxes.

Real estate remains a cornerstone of wealth portfolios, with a growing interest in logistics, data centres, and sustainable developments. The report, part of Savills’ inaugural Spotlight on Wealth Trends, analyses nearly 100 destinations, revealing a dynamic reshaping of global wealth migration.

Kelcie Sellers, Associate Director at Savills World Research, remarked on the shift towards lifestyle-driven wealth management, stating, “Location remains critical. It is a lifestyle shift comparable to the expansion of air travel in the 1960s and 1970s, but driven today by the digital world.” The findings suggest a more fluid, decentralised distribution of wealth, with new hotspots emerging based on agility and vision.

CSE Global Limited, a global systems integrator, announced it secured S$146.1m in new orders for the third quarter ending 30 September 2025. Despite unfavourable foreign exchange movements impacting the order intake, the company saw a 2.7% year-on-year increase on a constant currency basis, excluding two major contracts from the previous year.

The Communications segment was the standout performer, contributing 51.5% of the total order intake with S$75.2m, marking a 24.2% increase from the previous year. This growth was largely driven by new orders from recently acquired companies in the United States. Meanwhile, the Electrification segment secured S$48m, representing a 20.2% year-on-year growth when excluding major contracts from 2024. However, the Automation segment saw a 52.1% decline, attributed to the absence of greenfield orders in the oil and gas sector.

Group Managing Director and CEO Lim Boon Kheng stated, “Whilst the global operating environment remains uncertain, our underlying operations remain strong. We continue to take a disciplined approach to tendering and project selection, with a focus on quality execution and sustainable returns.”

The new orders bring CSE Global’s order book to S$467.5m for the first nine months of 2025. These developments are not expected to materially impact the company’s net tangible assets or earnings per share for the current financial year.

Fingular, a Singapore-based global fintech holding, has unveiled its Smart Limit solution in Malaysia, providing a digital consumer finance option that allows users to access funds flexibly and quickly. The service, which can be activated online in just five minutes, is initially available to existing Tambadana customers and will expand to AhaPay BNPL users before opening to the general public in March 2026.

The Smart Limit offers a modern alternative to traditional financing, featuring a fully digital onboarding and risk-scoring process. Customers can complete the application and receive approval in under five minutes. The service supports repayments via e-wallets, FPX transfers, and direct debit from bank accounts. Future enhancements will include top-ups, additional repayment options, and expanded usage channels, alongside a 30-day grace period and upcoming rewards and cashback programmes.

Maksim Chernushchenko, CEO of Fingular, highlighted the product’s relevance to Malaysia’s burgeoning digital economy, noting its potential to serve the near-prime market segment often overlooked by traditional banks. “With this launch, we continue our expansion into the near-prime segment—a market that remains underserved or overlooked by traditional banks,” he said.

Fingular, founded in 2021 by Maxim Chernushchenko and Vadim Gurinov, aims to build a comprehensive neo-bank promoting financial inclusion across Asia and the Middle East. The company operates in multiple markets, including Indonesia, Malaysia, and India, offering digital financial products tailored to local needs.

Hong Leong Finance (HLF) has inaugurated its next-generation branch at Punggol Coast Mall, aiming to capitalise on the rapidly expanding residential and commercial area. The branch, which opened on 10 November 2025, introduces several digital innovations, including a dynamic LED art wall and augmented reality (AR) experiences, as part of HLF’s commitment to enhancing customer engagement and digital transformation.

The new branch is designed to cater to the evolving needs of Punggol’s growing population, which has reached approximately 190,000. HLF President Ang Tang Chor highlighted the area’s potential, stating, “Punggol’s population has been rising rapidly, and with major developments such as the Punggol Digital District, we see demand potential for our financial products and services.”

In addition to the branch opening, HLF has revamped its corporate website to improve user experience, reflecting its focus on a seamless, omnichannel approach. The updated website offers enhanced navigation and interactivity, ensuring customers can easily access information and services.

The Punggol branch features privacy-enhanced teller booths and a dedicated SME Centre, providing a secure and personalised environment for financial consultations. The branch also incorporates sustainability elements, such as energy-efficient lighting and green-certified materials.

A standout feature is the AR experience with Ray, a digital dinosaur that educates customers about the HLF Digital app. This initiative exemplifies how technology can simplify complex information, making it more accessible and engaging.

The new branch and digital enhancements are part of HLF’s broader strategy to integrate technology with personalised service, ensuring customers receive a comprehensive and modern banking experience.

SGX Mainboard-listed Boustead Singapore Limited has announced its unaudited financial results for the first half of the financial year ending 30 September 2025. The group’s revenue for 1H FY2026 was marginally lower at S$294m, compared to S$295.2m in the same period last year. Despite this, the Geospatial Division saw a 10% increase in revenue, offsetting declines in the Real Estate Solutions and Healthcare Divisions.

Net profit for the period was S$34.9m, a 3% decrease from the previous year, primarily due to reduced revenue and gross profit. However, this was partially mitigated by lower other losses and a significant improvement in the share of loss from associates and joint ventures, following the reversal of a S$7m liability.

The group’s engineering order backlog stands at approximately S$396m, with S$122m under the Energy Engineering Division and S$274m under the Real Estate Solutions Division. Boustead has secured around S$193m in new engineering contracts since the start of 1H FY2026.

Chairman and Group CEO Wong Fong Fui commented on the challenging operating environment, noting, “The Group has delivered a respectable set of first half results.” He highlighted the thriving Geospatial Division, driven by demand for Geographic Information System technology solutions.

The Board has declared an interim cash dividend of 1.5 pence per share, consistent with the previous year. Boustead remains focused on optimising its balance sheet and improving project execution, with plans to list UI Boustead REIT on the Singapore Exchange to monetise its real estate portfolio.

More than 90,000 Singapore-based businesses are now selling internationally through PayPal, according to the newly released PayPal Global Beat 2025 report. This represents one in four of Singapore’s 356,100 registered businesses, highlighting the significant role digital commerce plays in extending the global reach of local enterprises. The report, based on a year of PayPal’s cross-border transaction data, reveals that Singapore’s gaming, beauty, and fashion sectors are leading the charge, collectively generating over $1.6b in transaction value.

The United States remains the largest market for Singaporean exports, with over $830m in purchases. However, Mexico has emerged as a promising new growth corridor, particularly for beauty and fashion products, with more than 7 million purchases worth over $370m. “PayPal continues to be a trusted partner for Singapore businesses expanding globally,” said Matthew Lucas, Vice President and Head of Cross Border Trade at PayPal. He noted that PayPal’s secure digital payment solutions enable even the smallest businesses to reach international customers.

Gaming is the most shopped category, generating over $593m in transaction value, followed by beauty with $411m and fashion with $636m. These sectors have found strong demand in both developed economies and emerging markets. Additionally, Singapore businesses are scaling in digital goods and software, further underscoring their global relevance.

As Singapore businesses diversify beyond traditional markets, the insights from PayPal Global Beat 2025 highlight the scalability and resilience of these enterprises, supported by trusted payment infrastructure. Looking ahead, PayPal plans to introduce more solutions in 2026 to simplify international expansion for businesses.