Industry News

In August 2025, Singapore’s property market witnessed a significant surge in developer sales, reaching 2,142 units, excluding Executive Condominiums. This marks a 127.9% increase from July’s 940 units and a staggering 915.2% rise compared to August 2024. The spike in sales was largely attributed to developers rushing to launch new projects before the onset of the Lunar Seventh month on 23 August, according to Leonard Tay, Head of Research at Knight Frank Singapore.

The month’s top performer was Springleaf Residence, which sold 94% of its 941 units at a median price of S$2,166 per square foot. This is only the second time in the past year that monthly sales have exceeded 2,000 units, with the previous instance being November 2024. Other notable projects included River Green and Promenade Peak, which sold 451 and 333 units, respectively.

Local homebuyers were the primary drivers of this activity, purchasing properties for personal use and leasing to foreign professionals. The Additional Buyer’s Stamp Duty continues to deter foreign buyers, but new citizens and permanent residents are actively acquiring homes in Singapore’s stable environment. Despite recent increases in Seller’s Stamp Duty rates and extended holding periods, the market remains robust, with 7,669 primary transactions recorded in the first eight months of 2025.

Looking ahead, sales are expected to decline in September and December due to fewer project launches during the Lunar Seventh month and year-end holidays. However, the appetite for new homes remains strong, with sales likely to reach or even surpass the upper end of Knight Frank’s forecasted range of 7,000 to 9,000 units for the year.

FOMO Group has announced that SGX Group (Singapore Exchange) has become a shareholder. This strategic move enhances FOMO Group’s blue-chip investor base and bolsters confidence in its long-term vision.

FOMO Group offers comprehensive financial services, including cross-border payments, cross-asset investments, and real-world asset tokenisation. With SGX Group’s robust capital markets infrastructure, FOMO Group aims to explore opportunities in digital capital markets, tokenised asset trading, and real-time stablecoin settlements.

Louis Liu, CEO of FOMO Group, expressed enthusiasm about the collaboration, stating, “We are excited to welcome SGX Group as our newest shareholder. This represents a vote of confidence in our strategy and an opportunity to collaborate with SGX Group, Asia’s leading and trusted securities and derivatives market infrastructure.”

Amit Kedia, Executive Director of Finance and Corporate Development at SGX Group, highlighted the potential for innovation in digital finance, emphasising the need for regulated solutions that enhance market connectivity and efficiency. “FOMO Group is helping to build the foundation for the next generation of digital finance—seamless, secure, and borderless financial experiences across the region,” Kedia noted.

Founded in 2015, FOMO Group is a prominent fintech company based in Singapore committed to developing trusted, regulated, and interoperable financial solutions. With SGX Group’s support, FOMO Group is poised to accelerate innovation and deliver greater value across the capital markets and digital finance landscape.

Hong Leong Finance (HLF) has officially launched the HLF Digital app, a mobile platform designed to offer customers seamless and secure financial management. Since its pilot phase in August 2024, the app has seen over 14,000 sign-ups and facilitated more than $730 million (S$1 billion) in digital transactions, including over $440 million (S$600 million) in fixed deposits.

The app, spearheaded by HLF’s leadership team, including President Ang Tang Chor, aims to enhance customer experience by integrating digital convenience with traditional branch services. Users can perform various transactions, such as opening accounts, placing fixed deposits, and transferring funds, all within a secure digital environment. The app employs advanced encryption and multifactor authentication to ensure data security.

Ang Tang Chor highlighted the app’s role in the company’s transformation journey, stating, “The launch of HLF Digital marks a significant milestone. It reflects our commitment to making financial services more accessible and efficient.”

HLF, part of the Hong Leong Group Singapore, continues to be a leader in the finance sector, with a strong network of branches and accolades such as the ASEAN Finance Company of the Year. The HLF Digital app is set to further solidify its position by offering innovative and customer-centric financial solutions.

Etiqa Insurance Singapore has launched its new brand campaign, “Live Ready With You,” aimed at supporting Singaporeans through life’s unexpected challenges. The campaign highlights the importance of preparation, protection, and partnership in navigating unforeseen circumstances.

The campaign builds on Etiqa’s “With You” narrative, focusing on empowering individuals to face the future with resilience and confidence. It features emotive stories that capture life’s unpredictable moments, such as health scares and surprise proposals, illustrating how the right support can help individuals be ready for whatever comes next.

Raymond Ong, CEO of Etiqa Insurance Singapore, stated, “Readiness is not about having all the answers but about having a trusted partner who gives you the confidence to move forward. ‘Live Ready With You’ is our commitment to stand by our customers through life’s unexpected moments.”

The campaign will run for 12 weeks across various media channels, including digital platforms, out-of-home advertising, and Etiqa’s owned channels. It aims to reinforce Etiqa’s role as more than just an insurer but as a partner providing peace of mind and support when it matters most.

StarHub, in partnership with Hoppr, has launched Dynamic Ad Pods, a pioneering solution in Singapore that replaces ads in real time on live broadcast TV channels. This innovation allows advertisers to target audiences with precision during live programmes, a feature previously limited to on-demand shows.

Dynamic Ad Pods utilise Connected TV (CTV) Server-Side Ad Insertion (SSAI) technology, drawing on insights from 175 million hours of viewing data. This enables different households watching the same live broadcast to see tailored ads, enhancing relevance and reducing media waste. The ads are seamlessly integrated using Dynamic Break Matching, ensuring minimal disruption to the viewing experience.

The new solution offers flexibility with formats such as skippable pre-rolls and stitched mid-rolls, delivered in full-screen, sound-on environments to maximise engagement. Unlike traditional TV advertising, Dynamic Ad Pods provide personalised ad replacements down to each screen, with built-in brand safety controls and frequency capping.

Beyond television, StarHub’s CTV solution extends campaigns to digital channels like display and WhatsApp, allowing brands to retarget viewers and drive conversions through a connected customer journey. This integration of live TV’s reach with digital media’s precision offers businesses a powerful tool for achieving stronger outcomes.

StarHub’s initiative marks a significant advancement in TV advertising, combining the storytelling power of live broadcasts with the accountability of digital media, ultimately enhancing the viewing experience at home.

Global Asset Solutions has appointed Leanne Reddie as its new chief commercial officer as the company opens a new office in Singapore to support its growth in the Asia Pacific region. Reddie, who previously held the same position at Chedi Hospitality, brings 25 years of experience in the hospitality industry, having worked with Emirates Airlines, Jumeirah Group, and Rosewood Hotels & Resorts.

Reddie’s extensive background includes a Masters of Business from Murdoch University and qualifications in hotel real estate investments and asset management from Cornell University. Her expertise spans Europe, the Middle East, Africa, China, and Asia Pacific, where she has successfully led teams and managed hotel openings.

Alex Sogno, CEO of Global Asset Solutions, expressed enthusiasm about Reddie’s appointment, stating, “We are thrilled to have someone of Leanne’s calibre joining the team in this latest phase of growth.” Reddie herself commented, “I am looking forward to working with the team and using my knowledge of portfolio management, brand strategy, revenue optimisation, and digital transformation.”

The move into Singapore follows Global Asset Solutions’ merger with Perceptions Hospitality, significantly expanding its presence in the region with nearly 60 luxury and upper-upscale hotels added to its portfolio. The company also released market research indicating that luxury and upscale assets accounted for almost 85% of hotel investments in Asia Pacific during 2024, driven by increased liquidity and a strong dollar.

Global Asset Solutions continues to provide independent hotel asset management services worldwide, managing over $20bn in assets across Europe, Asia, and the Middle East.

Singapore Post Limited (SingPost) is set to launch Speedpost Direct International Retail on 15 September 2025, a new shipping solution tailored for retail customers. This initiative comes in response to recent changes in US import regulations, which have eliminated de minimis exemptions for shipments. The service offers a Delivery Duty Paid (DDP) solution, ensuring compliance with the new rules and providing transparency at every step.

The Speedpost Direct International Retail service allows retail customers to send parcels to the US using standard packaging options provided by SingPost. Customers can choose between an envelope or a box, both available at fixed rates: S$29 for items up to 0.5kg and S$69 for items up to 2kg. Each shipment’s value must not exceed $100 (US$100). Neo Su Yin, Group Chief Operating Officer at SingPost, highlighted the service’s core benefit: “Our post office staff will assist customers in calculating and collecting all necessary duties and taxes upfront, eliminating the surprise of unexpected fees for the recipient.”

The service covers over 80% of typical shipment sizes to the US. For packages exceeding 2kg or valued over $100 (US$100), customers are advised to use the premium Speedpost Express International service, which offers express delivery within three to six days.

This launch follows significant changes in US customs policy, effective 29 August 2025, which now subjects all commercial items to duties and taxes. SingPost’s new service aims to protect customers from potential delays or parcel seizures, providing a reliable alternative as postal networks adapt to the new requirements.
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Lion TCR, a clinical-stage biotechnology company that originated from the Agency for Science, Technology and Research (A*STAR) in Singapore, has achieved a significant milestone with the US Food and Drug Administration (FDA) granting Investigational New Drug (IND) clearance for its TCR-T cell therapy, LioCyx-M004. This clearance allows the initiation of phase 1b/2 clinical trials for chronic hepatitis B (CHB), following earlier Fast Track and Orphan Drug designations for hepatitis B virus-related hepatocellular carcinoma (HBV-HCC).

The IND clearance is a pivotal step for Lion TCR, as it marks the first TCRT therapy to enter clinical development for CHB, a condition affecting over 290 million people globally. CEO Xiaoming Peng highlighted the transformative potential of LioCyx-M004, stating, “This triple recognition from the FDA underscores the transformative potential of LioCyx-M004 and validates our strategic approach targeting HBV-associated diseases through TCRT cell therapy.”

LioCyx-M004 is an innovative autologous cell therapy, engineered using mRNA to encode T-cell receptors that specifically target hepatitis B virus antigens. Preclinical studies have shown its ability to reduce viral antigen load and promote T-cell-mediated clearance of infected cells, maintaining a favourable safety profile. Chief Medical Officer Tina Wang noted, “Our ability to successfully redirect our lead candidate from oncology to virology demonstrates the remarkable versatility and broad therapeutic potential of our platform.”

Lion TCR’s approach offers advantages over traditional ex vivo T cell therapies, including shorter production cycles and reduced costs, potentially expanding treatment accessibility. The company is also enhancing its AI-powered TCR discovery platform to address additional solid tumour indications, such as lung, breast, and gastrointestinal cancers.
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MVGX Tech Pte Ltd, a leader in sustainability compliance technology, has released its inaugural Sustainability and Impact Report for 2024, marking a significant milestone with the achievement of a “Gold” Decarbonisation Rating from TÜV SÜD. This accolade underscores MVGX’s commitment to advancing sustainability through innovative solutions and responsible practices.

The report outlines MVGX’s impact across various sectors, including finance, heavy industry, and small and medium-sized enterprises (SMEs). It highlights the expanded adoption of MVGX’s Carbon Management System and the launch of Asia’s first commercial Carbon Border Adjustment Mechanism compliance tool. Additionally, the company has introduced AI-driven auto-reporting aligned with international standards, enhancing transparency in sustainability disclosures.

MVGX’s efforts in capacity building are evident through the MVGX Carbon Academy, which has trained boards and executives in Malaysia, Indonesia, and beyond. The report also discloses Scope 1-3 emissions across Singapore, China, and Malaysia, showcasing the company’s preparation for carbon neutrality through verified offsets.

The “Gold” Decarbonisation Rating, achieved on 5 September 2025, reflects MVGX’s strong alignment between strategy and execution. The rating, verified by TÜV SÜD, highlights the company’s success in reducing value chain emissions and its positive impact on downstream customers. MVGX CEO Lily Hong expressed pride in the recognition, stating, “This recognition is a powerful testament to our team’s collective efforts.”

A subsidiary of Alpha Ladder Group, headquartered in Singapore, MVGX continues to pioneer sustainability compliance solutions across the Asia-Pacific region, offering services such as digital measurement, regulatory compliance reporting, and carbon credit advisory. The company’s proprietary AI models and extensive emissions factor database streamline sustainability compliance, making it accessible and cost-effective for businesses.
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The Singapore Maritime Foundation (SMF) has awarded 60 MaritimeONE Scholarships, valued at $1.08m (S$1.48m), to tertiary students at the MaritimeONE Scholarship Awards Ceremony 2025. This initiative, supported by 39 organisations from various maritime sectors, aims to cultivate a future-ready workforce. The event was attended by Baey Yam Keng, Minister of State for Culture, Community and Youth, and Transport.

The scholarships highlight the maritime industry’s commitment to nurturing talent across a range of disciplines, including accountancy, business analytics, computer science, and law, alongside traditional maritime studies. This reflects the sector’s shift towards digitalisation and sustainability. Since its inception in 2007, the programme has awarded over 700 scholarships, totalling more than $13.9m (S$19m).

In addition to financial support, scholars benefit from internships, networking events, and mentorship programmes, ensuring they are well-prepared for industry challenges. Thirteen leading maritime companies have signed Memoranda of Understanding with SMF, pledging multi-year support for the scholarship and talent development initiatives.

Elicia Chan, a scholarship recipient, expressed her ambition to contribute to sustainable supply chain solutions. Similarly, Lim Jia Huey Sally, transitioning from aviation, aims to drive decarbonisation in maritime operations. Mohamad Ilham Bin Mohamad Ibrahim, another recipient, aspires to become a deck officer, highlighting the industry’s global impact.

Hor Weng Yew, Chairman of SMF, thanked the sponsors, emphasising their role in fostering a resilient and innovative maritime sector. The scholarships underscore the industry’s dedication to developing a skilled workforce to navigate future challenges.
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