Industry News

Azimut Group has announced the appointment of Stefano Chao as Head of Asia and Chief Executive Officer of Azimut Singapore, effective August 2025. Based in Singapore, Chao will oversee Azimut’s operations across its regional offices in Singapore, Shanghai, Hong Kong, and Taipei, reporting directly to Group CEO Giorgio Medda. This move underscores Azimut’s commitment to accelerating its growth in the Asian market.

Chao, who joined Azimut Group in 2011, previously served as General Manager and Legal Representative of Azimut China. His experience includes developing the Private Fund Manager (PFM) and Qualified Domestic Limited Partnership (QDLP) businesses in China. Before joining Azimut, Chao was Vice President at Lehman Brothers in New York. He holds a BA in Economics from Yale University and an MBA from CEIBS.

In his new role, Chao aims to enhance the coordination and integration of Azimut’s operations within Asia and strengthen collaboration with the group’s global network, which spans 20 countries. His priorities include expanding the fund business and developing cross-border solutions for private and institutional clients in the region.

Azimut Group, listed on the Milan Stock Exchange since 2004, manages assets worth over $124 billion (SGD 170 billion) globally, with more than $2.6 billion (SGD 3.6 billion) managed by Azimut Singapore. The group operates with a team of over 2,200 financial advisers and 1,700 employees worldwide, including more than 70 in Singapore. Azimut specialises in asset management, wealth management, investment banking, and fintech, focusing on emerging markets.
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Singapore Post (SingPost) has launched a new stamp series featuring four critically endangered animal species native to Singapore. This initiative, announced on 8 September, is part of SingPost’s ongoing efforts to raise awareness about local biodiversity. The stamp set follows a similar release focusing on Singapore’s endangered flora earlier this year.

The featured species include the Malayan horned frog, known for its unique appearance and reliance on dwindling forest habitats; the Harlequin butterfly, which faces threats from habitat destruction; the Spoon-billed sandpiper, a migratory bird at risk due to loss of stopover sites; and the Large flying fox, a fruit bat threatened by habitat degradation and hunting.

The designs were developed in collaboration with the Lee Kong Chian Natural History Museum (LKCNHM). Associate Professor Darren Yeo, head of LKCNHM, emphasised the stamps’ role in symbolising Singapore’s natural heritage. Neo Su Yin, SingPost’s Group Chief Operating Officer, stated, “By celebrating these critically endangered native species, we aim not only to raise awareness but also to inspire lasting appreciation of Singapore’s unique biodiversity.”

The stamps will be officially released on 19 September and are available for preorder at a symposium hosted by LKCNHM on 6 September. They can be purchased at post offices, Philatelic Stores, and online.

SingPost, a leading postal and eCommerce logistics provider in Asia Pacific, continues to integrate sustainability into its operations, engaging the community to support conservation efforts.
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Manulife has launched its enhanced ManulifeMOVE platform at the inaugural Longevity Symposium in Asia, held on 6 September at Marina Bay Sands Expo and Convention Centre, Singapore. The event gathered over 1,000 healthcare experts, industry leaders, and partners to discuss strategies for living longer and better. The symposium, graced by Minister of State Jasmine Lau, highlighted the importance of longevity and wellness in the region.

The enhanced ManulifeMOVE platform now features six key pillars aimed at providing holistic support for customers navigating life’s transitions. These include healthcare, home and nursing care, fitness and wellness, lifestyle privileges, legacy planning services, and community engagement. Harshal Shah, Chief Marketing & Experience Design Officer at Manulife Asia, stated, “With ManulifeMOVE, we’re giving customers the power to take charge of their health and financial choices.”

Additionally, the symposium announced the winners of the UpLink Challenge, a collaboration with the World Economic Forum, aimed at fostering multigenerational resilience in Asia. The ten winning ventures, selected for their innovative solutions, will join UpLink’s Innovation Ecosystem, gaining access to networking and partnership opportunities.

The event underscores Manulife’s commitment to advancing longevity in Asia, building on previous symposiums held in Boston. Benoit Meslet, President and CEO of Manulife Singapore, emphasised the company’s role in empowering customers to make informed decisions for their health and financial futures. As longevity reshapes societies, Manulife aims to lead with purpose and innovation, helping people live not only longer but better.
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Singapore’s job market is showing signs of cooling as employers adopt a more cautious approach to hiring, according to the latest ManpowerGroup Employment Outlook Survey. The survey, which polled 524 employers, indicates that the Net Employment Outlook (NEO) for Q4 2025 stands at 20%, a decline of 17% from the previous quarter and 31% year-on-year.

Nearly half of the surveyed employers, 45%, plan to maintain their current staffing levels, citing confidence in their existing teams. Meanwhile, 32% of employers are increasingly turning to temporary workers for specialised short-term tasks, with 34% using them for seasonal or surge support. This trend narrows the gap with permanent employees, who are utilised by 29% of employers for similar roles.

The survey highlights significant challenges in talent acquisition, with 50% of employers struggling to attract qualified candidates. Filling complex technical roles and improving the candidate experience are also noted as key difficulties, affecting 34% and 30% of employers, respectively.

Work-life balance emerges as a leading retention strategy, with 56% of employers prioritising it to retain talent. This is particularly evident in the Financials and Real Estate sector, where 67% of employers emphasise work-life balance as a retention tool.

As Singapore’s employment landscape evolves, the focus on flexible workforce strategies and retention through work-life balance could shape future hiring practices.
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Tata Communications and Cisco have announced a strategic partnership to integrate Tata Communications’ global eSIM platform into Cisco’s IoT Control Centre. This collaboration, unveiled on 8 September 2025, seeks to streamline the management of over 270 million devices worldwide, including 100 million connected cars, by offering a unified solution for enterprises to manage their IoT operations across multiple markets.

The integration will allow businesses to activate and manage devices across borders without the need to swap SIMs, providing a consistent view of all connected equipment. This is particularly beneficial for industries such as transportation, logistics, and manufacturing, where seamless IoT connectivity is crucial. Marco Bijvelds, Vice President and Global Head of Tata Communications MOVE, stated, “The unmatched power of Tata Communications’ intelligent IoT fabric and Cisco’s proven device management platform will empower global businesses to unlock new opportunities, streamline operations, and accelerate digital transformation.”

The collaboration promises to reduce integration complexities and vendor lock-ins, offering enterprises greater control and efficiency in their IoT deployments. Masum Mir, SVP and GM of Cisco Provider Mobility, highlighted the importance of eSIM technology, noting, “As enterprises need greater simplicity, automation, and scalability to effectively manage increasingly complex use cases, we see eSIM as a foundational technology.”

By combining their expertise, Cisco and Tata Communications aim to set a new standard in the IoT industry, focusing on interoperability, scalability, and lifecycle intelligence. This partnership is expected to accelerate innovation, unlock new revenue streams, and optimise connected operations globally.
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Singapore Post Limited (SingPost) is enhancing its logistics capabilities in preparation for the upcoming peak eCommerce season, which includes significant shopping events like the 9.9 sales period. To manage the anticipated 60% increase in parcel volumes, SingPost is hiring up to 100 additional delivery staff and expanding its fleet with eight supplementary 24-foot lorries, boosting daily shuttle capacity by over 130%.

The lorries will operate between key facilities at SingPost Centre in Paya Lebar and the Regional eCommerce Logistics Hub in Tampines, running from 10 am to midnight. This flexible, data-driven fleet management approach allows SingPost to adjust the number of lorries based on parcel volume trends, ensuring efficient resource allocation.

SingPost is also extending its sortation centres’ operating schedule to seven days a week, supported by over 800 full-time delivery staff. Additionally, part of a new S$30 million sortation system will be operational from November, doubling small parcel throughput to 200,000 parcels per day, just in time for the peak of peaks on 11.11.

Neo Su Yin, Group Chief Operating Officer of SingPost, highlighted the challenges of peak seasons, noting that about half of all eCommerce shipments during events like 9.9 originate from overseas sellers. This requires agility and rigorous resource management to meet service expectations.

As part of its growth strategy, SingPost recently launched over 160 new service touchpoints through Cheers outlets, expanding its network to 236 locations nationwide. This move provides sellers, including SMEs and home-based businesses, with more convenient options for parcel drop-off and purchasing shipping supplies.

SingPost’s efforts aim to capture growth opportunities and reinforce its leadership in Singapore’s eCommerce logistics market, ensuring seamless service during the peak logistics season.
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Ireland has launched a €32m campaign, co-funded by the European Union, to enhance its dairy trade with Asia. The initiative, titled “European Dairy: Ireland Where Nature Meets Science,” aims to strengthen nutrition pipelines and forge long-term trade partnerships across Singapore, China, and Vietnam. Running until 2028, the project positions Singapore as a regional hub, leveraging its world-class safety standards and research infrastructure to meet Asia’s demand for sustainable and traceable dairy products.

Her Excellency Sarah McGrath, Ambassador of Ireland to Singapore, emphasised the campaign’s role in reinforcing trade relationships and shared innovation goals. “This campaign is a symbol of Ireland’s commitment to strengthening the bridges between Europe and Asia,” she stated. The initiative seeks to deepen trust and collaboration, combining Ireland’s expertise in science-driven agriculture with Asia’s leadership in food innovation.

Bord Bia, the Irish Food Board, is spearheading the campaign, aiming to connect European producers with key Asian markets. Lisa Phelan, Director for Southeast Asia and Australia and New Zealand at Bord Bia, highlighted the importance of collaboration. “By collaborating with Singapore, we can secure Asia’s nutrition future with dairy that is trusted, traceable, and future-ready,” she said.

Ireland’s sustainable dairy production is a cornerstone of the campaign, with 90% of herds grass-fed and 95% of processors enrolled in the Origin Green sustainability programme. The campaign aims to reaffirm European Dairy’s reputation, provide traceable ingredients, and connect Singaporean firms with EU innovation pipelines.
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Price Forbes has announced the appointment of Eric Wang Mingchao as the new Head of Affinity in Singapore. Reporting directly to Julian Coates, Chief Broking Officer of Price Forbes Singapore, Eric will spearhead the growth of the company’s facultative reinsurance portfolios across various affinity products. These include extended warranty insurance, auto and finance insurance, and personal accident insurance. Additionally, he will focus on expanding Price Forbes’ presence in the Asia Pacific region and advancing its affinity growth strategy.

Eric Wang Mingchao brings over 15 years of experience in affinity insurance programme development and management. His previous role was as Affinity General Manager at SinoAsia Affinity. His extensive experience in the Asia Pacific market includes positions at QBE in Bangkok, Marsh China in Beijing, and Crawford Australia in Hobart, among others.

Philip Johnson, CEO of Price Forbes Asia Pacific, expressed enthusiasm about Eric’s appointment, stating, “We’re thrilled to welcome Eric Wang Mingchao to the team as our new Head of Affinity in Singapore. Affinity is a key growth pillar for us across Asia Pacific, and the opportunities are vast.” Eric himself remarked, “I’m delighted to join Price Forbes Singapore at a dynamic time for both the regional business and the broader Price Forbes platform.”

Price Forbes, part of The Ardonagh Group, is the largest independent speciality broker in the London Market, managing over US$7m in gross written premium. The company is committed to innovation and building customer-centric partnerships to unlock growth in dynamic markets worldwide.
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Singapore-based start-up Stick ‘Em has been awarded the prestigious US$1m Hult Prize for its innovative approach to expanding access to quality education. The announcement was made at the Global Finals held on 5 September at London’s Tate Modern. Stick ‘Em, founded by students from the National University of Singapore and Singapore University of Technology and Design, impressed judges with its affordable STEAM (science, technology, engineering, arts, and maths) kits and digital platform designed for schools worldwide.

The Hult Prize, an annual competition, challenges student entrepreneurs to develop for-profit businesses that address global challenges. This year, over 200,000 participants from 130 countries submitted nearly 15,000 start-up ideas. Stick ‘Em’s solution stood out for its potential to make experiential learning more accessible, particularly in underserved communities, by combining physical kits with an online platform.

Lori van Dam, CEO of the Hult Prize, highlighted the importance of private sector involvement in solving global issues, stating, “The Hult Prize showcases how for-profit businesses can improve the world and why investors should back more purpose-led start-ups.”

Stick ‘Em was selected from eight global finalists, including ventures like CeluNova, which transforms pineapple waste into raw materials, and EcoPack, which recycles sugarcane waste into biodegradable packaging. The judging panel comprised global leaders in venture capital and sustainability, including Aileen Lee and Piers Linney.

The Hult Prize, funded by the Hult family, has been empowering student entrepreneurs since 2009. Previous winners include Korion Health and Banofi Leather, both of which have made significant strides in their respective fields. The competition continues to inspire young entrepreneurs to create impactful solutions aligned with the United Nations Sustainable Development Goals.
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Porsche Singapore is marking World EV Day on 9 September by launching a new 10-year Battery State of Health (SOH) warranty for its electric vehicles (EVs). This initiative aims to enhance customer confidence in the long-term performance of Porsche EVs, covering the full Certificate of Entitlement lifespan. The warranty is available for the new Macan Electric and the updated Taycan, and can also be purchased by existing Porsche EV owners who acquired their vehicles through official channels.

The new warranty extends the existing eight-year/160,000-kilometre warranty, which guarantees a 70% SOH, by an additional two years in collaboration with Mavi Automotive Solutions. To qualify, owners must have their vehicle’s SOH checked four months before reaching the eight-year mark. Additionally, Porsche offers a Porsche Approved Warranty covering high-voltage battery components for up to 15 years, though it does not include SOH.

In celebration of World EV Day, Porsche Studio Singapore will showcase models like the Taycan Turbo Cross Turismo and Macan Turbo. Limited showroom units of these models will receive complimentary option packages, including the new 10-year battery warranty and accessories valued at over $27,000 for the Taycan and $21,000 for the Macan.

Porsche Singapore continues to offer benefits such as three years of complimentary charging at its Destination Charging network and preferential rates at the Shell High Performance Charging network. Dr. Henrik Dreier, Director Singapore Importer Porsche Asia Pacific, stated, “Our 10-year Battery State of Health Warranty sets a new benchmark in the luxury segment, ensuring that our customers can enjoy the full ownership journey with total assurance.”
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