Industry News

JAM OFF 2025 is set to transform Sentosa into a vibrant music and cultural hub on 27 and 28 September 2025, as part of the Grand Prix Season Singapore (GPSS). Organised by Destinations Network Tourism and Leisure Marketing Ltd, and supported by the Singapore Tourism Board, the festival promises two days of world-class performances and exclusive entertainment experiences.

The festival will take centre stage at Universal Studios Singapore, where South Korean superstar Rain and popular Hong Kong artists such as Ekin Cheng and Hins Cheung will perform. Festivalgoers can also enjoy select experiences from Halloween Horror Nights 13, adding an adrenaline rush to the musical festivities. Public ticket sales begin on 22 August 2025 at noon via KLOOK and Ticketmaster.

In addition to concerts, JAM OFF 2025 will host its signature competitions, JAM OFF VOICE and JAM OFF BEATS, at Palawan Green, Sentosa. These events will showcase regional talent through vocal and dance battles, with contestants vying for cash prizes and opportunities to perform internationally. Registrations for JAM OFF VOICE run until 12 September, whilst JAM OFF BEATS registrations close on 26 September.

Evette Chan, Event Director, stated, “With this year’s line-up, we’re bringing together some of Asia’s most dynamic talents for an unforgettable weekend of music, culture, and entertainment.”

Beyond the headline acts, Palawan Green will be transformed into a festival village, offering interactive games, race-themed ice lollies, and live performances, creating an atmosphere of music, culture, and camaraderie. For more details, visit JAM OFF’s official Instagram page.
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Ransomware continues to be the primary threat to large and medium-sized businesses, with cybercriminals increasingly using artificial intelligence (AI) to automate attacks, according to the Acronis Cyberthreats Report H1 2025. The report, released by Singapore-founded Acronis, a leader in cybersecurity and data protection, highlights a 70% rise in ransomware victims compared to previous years, with AI playing a significant role in the surge.

The report, based on data from over 1,000,000 unique endpoints worldwide, reveals that phishing accounted for 25% of all attacks and 52% of those targeting managed service providers (MSPs), marking a 22% increase from H1 2024. Gerald Beuchelt, Chief Information Security Officer at Acronis, noted, “Even the least sophisticated attackers today have access to advanced AI capabilities, generating social engineering attacks and automating their activities with minimal effort.”

Key findings indicate that ransomware groups such as Cl0p, Akira, and Qlin are the most active, with AI significantly boosting social engineering and business email compromise (BEC) attacks. Social engineering and BEC attacks rose from 20% to 25.6% in early 2025 compared to the same period in 2024, driven by AI’s ability to craft convincing impersonations.

Manufacturers were the most targeted industry, accounting for 15% of ransomware cases in Q1 2025, followed by retail, food and drink (12%), and telecommunications and media (10%). The report underscores the need for a comprehensive cyber protection strategy to combat these evolving threats.
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AIA Singapore and Mount Alvernia Hospital have signed a Memorandum of Understanding (MoU) to collaborate on initiatives that advance sustainable healthcare solutions and provide high-quality, affordable care to Singapore residents. The agreement, signed on 20 August 2025 by AIA Singapore CEO Wong Sze Keed and Mount Alvernia Hospital CEO James Lam, focuses on three key areas: innovative healthcare solutions, sustainable and cost-effective initiatives, and driving positive industry impact through shared expertise.

The partnership is designed to enhance patient experiences and outcomes by leveraging the combined expertise of AIA Singapore, a leading health insurer, and Mount Alvernia Hospital, a trusted healthcare provider.

Lam said, “This partnership between Mount Alvernia Hospital and AIA Singapore is rooted in a shared goal to provide patients with our comprehensive multidisciplinary healthcare that is accessible, affordable and efficient.”

This collaboration builds on AIA Singapore’s ongoing efforts to support the health and well-being of its policyholders. In 2024, AIA Singapore introduced on-demand teleconsultations, mental wellbeing services, paediatric care, and home health screenings. Additionally, enhancements to corporate insurance policies were made, including expanded inpatient coverage for mental health care, benefiting over 1.3 million employees in Singapore.

The partnership aims to champion innovation and accessibility in healthcare, ensuring every Singaporean has the opportunity to live healthier, longer, better lives.
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Prologue, a new healthcare facility by SL Aesthetic Group, has opened its doors at Ngee Ann City, Singapore. The facility aims to provide a holistic approach to healthcare through its two main entities: Prologue The Lifestyle Medical Clinic and Prologue Centre for Women’s Wellness. This initiative seeks to address the need for personalised healthcare by focusing on lifestyle medicine and specialised women’s care.

Prologue The Lifestyle Medical Clinic offers preventive care services, emphasising the importance of lifestyle habits such as stress management, quality sleep, and balanced nutrition. The clinic employs a prevention-first approach, using data-backed methods to empower individuals in managing their long-term health. Services include comprehensive health screenings with Bioelectrical Impedance Analysis devices and early dementia screening using the AI-powered tool, ReCOGnAIze.

The Prologue Centre for Women’s Wellness provides a supportive environment for women dealing with postpartum recovery, perimenopause, and menopause. It offers professional care for pelvic floor health, nutritional optimisation, and stress management. The centre also provides access to FDA-cleared technologies like EXION and EMSELLA for skin laxity, vaginal health, and body contouring.

Dr Kelvin Chua, Founder and Senior Medical Director of Prologue, stated, “Prologue reflects our commitment to delivering integrated medical and wellness care. We aim to support individuals in their holistic health journeys and provide women with access to personalised, evidence-based care across different stages.”

Located at 391 Orchard Road, Prologue is set to redefine healthcare by offering proactive care that begins long before symptoms appear, aligning with Singapore’s recognition as a Blue Zone for healthy living.
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SATS Ltd has announced a net profit of S$70.9m for the first quarter of FY26, ending 30 June 2025. The company reported a 9.9% increase in revenue, reaching S$1.5b, attributed to volume growth and market share gains in its cargo and aviation food services. The EBITDA also improved by 9.9% to S$273.8m, maintaining a margin of 18.2%.

The company’s Gateway Services saw an 11.2% rise in revenue to S$1.18b, outperforming global growth benchmarks set by the International Air Transport Association (IATA). Meanwhile, Food Solutions revenue increased by 5.6% to S$328.3m, supported by a rise in air travel and inflight meal demand. Operating profit for the quarter rose by 10.9% to S$125.2m, with an operating profit margin of 8.3%.

Kerry Mok, President and CEO of SATS, highlighted the company’s resilience and adaptability, stating, “Our financial performance and market share growth in the first quarter of FY26 reflects continued demand for our services and the effectiveness of our integrated global platform.” He also noted the significance of a recent hub management agreement with Riyadh Air, which underscores SATS’ ability to grow despite a volatile environment.

Looking forward, SATS aims to enhance profitability and strengthen cash flows, focusing on strategic partnerships and infrastructure developments to maintain its leadership in the aviation industry. The company remains optimistic about its ability to outperform global benchmarks in cargo and passenger markets, despite economic uncertainties.
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Prime Minister Lawrence Wong’s National Day Rally speech underscored the importance of embracing advanced technologies, such as artificial intelligence (AI), to navigate Singapore’s digital economy and competitive job market. Vic Sithasanan, Managing Director of Jobstreet by SEEK in Singapore, echoed these sentiments, highlighting the trends observed on Jobstreet’s platform.

Jobstreet’s data indicates a significant decline in entry-level positions and overall job postings since 2022, with a 22% drop in 2023 and a further 16% decrease in 2024. This trend continued with a 1% decline in 2025, attributed to global uncertainties and cautious hiring practices. The Ministry of Manpower’s Labour Market Report for Q1 2025 also noted a slight 2% rise in unemployment.

Despite these challenges, demand for AI skills is surging. Entry-level postings requiring AI skills on Jobstreet increased by 40% in H1 2025 compared to the previous year. Sectors such as information and communication technology, sales, banking, and manufacturing are leading this growth. Sithasanan noted, “There is a growing demand for tech-savvy talent at the start of the career ladder.”

Jobstreet’s Hiring, Compensation and Benefits 2025 report found that 54% of businesses consider AI skills crucial when hiring. To address concerns about job seekers’ credentials, initiatives like SkillsFuture Singapore and Jobstreet’s SEEK Pass offer secure verification methods.

AI-driven talent matching on Jobstreet has also improved, with over 50% of applications driven by AI recommendations, enhancing job matching and boosting confidence among employers and job seekers. This collaborative approach aims to strengthen career pathways for Singaporeans in the evolving digital landscape.
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Carey Olsen has announced that four of its partners, James Noble and Helen Wang from Singapore, and Tim Haynes and Matthew Watson from Hong Kong, have been acknowledged in the Asian Legal Business (ALB) Asia Top Offshore Litigators list for 2025. This recognition highlights their exceptional expertise in handling complex cross-border disputes across Asia.

James Noble, who leads the firm’s litigation, insolvency, and restructuring practice in Asia, has been featured in the list for five consecutive years. Known for his work in multi-jurisdictional litigation, Noble is the only Cayman Islands and British Virgin Islands admitted litigator in Singapore. He is highly regarded in Chambers Asia-Pacific and Chambers Global.

Helen Wang, a partner in the Singapore office, specialises in complex commercial litigation and shareholder disputes. Recognised as a Next Generation Partner by Legal 500 Asia-Pacific, Wang has been praised for her understanding of the Chinese business landscape. This marks her third consecutive year on the Asia Top Offshore Litigators list.

Tim Haynes, head of the disputes practice in Hong Kong, brings over 27 years of experience in commercial dispute resolution. His longstanding connection with Asia and technical excellence have earned him high praise in Chambers Asia-Pacific and Chambers Global.

Matthew Watson, also based in Hong Kong, is noted for his expertise in Bermuda law. Recently involved in landmark Privy Council cases, Watson has been described as “brilliant” by Chambers. This is his second year on the list.

These recognitions underscore Carey Olsen’s strength in offshore litigation and its commitment to providing top-tier legal services in Asia.
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UOL Group has reported a significant 45% year-on-year increase in operating profit after tax and minority interests (PATMI) for the first half of 2025, reaching $207m. This growth is attributed to strong performances in property development and investments, alongside reduced finance expenses. The group’s revenue rose by 22% to $1.6b, driven by a 40% increase in property development revenue and a 12% rise in property investment income.

UOL’s strategic focus on asset enhancement initiatives (AEIs) and acquisitions has bolstered its recurring income streams. The group’s hospitality division is set for growth, with room expansions and strong rental reversions in its commercial portfolio. Notably, the redevelopment of Marina Square is anticipated to unlock significant value, potentially narrowing the valuation gap.

The group’s residential projects have seen impressive sell-through rates, with upcoming launches at Skye at Holland and Thomson View expected to perform well due to their prime locations and appeal to discerning homebuyers. UOL’s strategic landbank replenishment continues to support its residential earnings.

Looking ahead, UOL’s commitment to enhancing shareholder returns through a sustainable dividend policy, backed by its strong operating results, suggests potential for higher dividends. The group’s ability to identify and execute well-positioned projects across various segments remains a key strength.
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The Brunei Economic Development Board (BEDB) is set to launch the inaugural Brunei Week in Singapore from 5 to 7 September 2025 at Suntec City Convention Centre. Supported by Royal Brunei Airlines, the event will feature a Brunei pavilion showcasing more than 20 Bruneian brands, many of which are debuting in Singapore. The event aims to introduce Singaporeans to Brunei’s culinary offerings, including Tea Tarik Dust by Sabli’s and Marimin’s shrimp and fish crackers.

Brunei Week will be part of MakBesar’s Grand Market 2025, providing an opportunity for Singaporeans to sample and purchase Bruneian-made products. Notable items include Sambal Tahai by Rizqussalam and Pineapple Sunrise Hot Sauce by Volco Venture, which organisers hope will become kitchen staples in Singapore. Health-conscious visitors can also look forward to Skinny Meal’s Root Juice.

Beyond the event, BEDB is collaborating with Singaporean distributors to ensure these products remain accessible. Meat Aliyah Rizq Pte Ltd and Lim Siang Huat Pte Ltd have signed agreements to distribute Bruneian products, focusing on retail and e-commerce respectively. “The Brunei Economic Development Board is excited about the opportunities that the inaugural Brunei Week will create for Brunei businesses,” said Norlela Suhailee, Director of Enterprise Development at BEDB.

The initiative not only aims to boost Brunei’s market presence in Singapore but also to strengthen bilateral ties through shared culinary experiences. With strategic partnerships in place, Brunei Week is poised to leave a lasting impression on Singapore’s food scene.
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iFAST Corporation Ltd, a Singapore-based wealth management fintech platform, has announced a significant 15% increase in revenue for the second quarter (Q2), attributing this growth to its expanding platform business. The company revealed its financial results on 19 August, highlighting the continued success of its digital wealth management services.

The company’s platform business, which includes its Business-to-Business (B2B) and Business-to-Consumer (B2C) segments, played a pivotal role in driving revenue growth. This segment saw increased adoption by financial advisers and retail investors, contributing to the overall positive performance. iFAST’s CEO stated, “Our platform business continues to gain traction, reflecting the growing demand for digital wealth management solutions.”

In addition to revenue growth, iFAST reported a 12% increase in its assets under administration (AUA), reaching a new high. This rise in AUA underscores the company’s ability to attract and retain clients amidst a competitive market landscape. The CEO further commented, “The increase in AUA is a testament to our commitment to providing comprehensive and innovative solutions to our clients.”

Looking ahead, iFAST Corporation remains optimistic about its growth prospects, with plans to enhance its platform capabilities and expand its geographical footprint. The company aims to capitalise on the growing trend towards digitalisation in the financial services industry, positioning itself as a leader in the fintech space.

In summary, iFAST Corporation’s strong Q2 performance, driven by its platform business, highlights the company’s strategic focus on digital wealth management and sets the stage for continued growth in the future.
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