Industry News

The Singapore Business Federation (SBF) has inaugurated its first Singapore Enterprise Centre (SEC) in the Middle East, located in Dubai, United Arab Emirates. This development is part of SBF’s GlobalConnect@SBF initiative, designed to bolster Singapore companies’ expansion into overseas markets. The SEC@Dubai will provide market advisory, networking, and business matching support to Singapore enterprises looking to explore opportunities in the Gulf region.

The launch event was attended by Singapore’s Minister for Manpower, Dr Tan See Leng, and Chairman of Dubai Chambers, Sultan Bin Saeed Al Mansoori, among other dignitaries. The UAE, with an economy valued at US$569b and projected to grow by 4.8% in 2025, is a key market for Singapore. Bilateral trade between the two nations reached S$24b in 2024, highlighting the strong economic ties.

The SEC@Dubai will act as a strategic gateway for Singapore firms targeting markets in the Middle East, including Saudi Arabia, Jordan, and Qatar. The centre will support small and medium-sized enterprises (SMEs) through various programmes and workshops. Kok Ping Soon, CEO of SBF, noted the UAE’s role as a top trading partner and emphasised the growing demand for Singapore enterprises in the region.

The initiative aligns with Enterprise Singapore’s efforts to strengthen economic ties and create sustainable growth pathways in the Middle East. The SEC@Dubai is expected to play a crucial role in facilitating Singapore’s trade and investment ties with the Gulf Cooperation Council region.

The HDB resale market in Singapore is entering a period of stabilisation, according to Huttons Asia’s latest outlook for 2026. After years of rapid price growth, the market is expected to see a more modest increase of around 3% in 2025, a significant drop from the 9.7% rise recorded in 2024. Transaction volumes are also projected to fall to 25,500, the lowest since the COVID-19 pandemic in 2020.

The slowdown in the resale market is attributed to government policies aimed at increasing the supply of Build-To-Order (BTO) and Sale of Balance Flats (SBF). From 2021 to 2025, HDB launched 102,433 BTO flats, with nearly 28% of 2025’s launches having a waiting time of 36 months or less. This increased supply mirrors the period from 2011 to 2014, which saw a similar easing in resale prices.

Additionally, policy adjustments in October 2024 allowed singles to purchase 2-room flexi BTO flats in all locations, and increased the allocation for second-timer families by 5 percentage points. These measures have contributed to the reduced demand in the resale market.

Despite the overall market slowdown, the number of million-dollar flat transactions is expected to rise by nearly 50% to 1,550 in 2025. These high-value flats, often centrally located and less than 10 years old, continue to attract buyers.

Looking ahead, the number of flats reaching their 5-year Minimum Occupation Period (MOP) is set to increase in 2026, potentially leading to more million-dollar transactions. Huttons estimates that resale flat prices will grow between 1% and 4%, with transactions ranging from 24,000 to 27,000.

A recent study by the Singapore Management University (SMU) Centre for Research on Successful Ageing (ROSA) has found that whilst older Singaporeans are supportive of the Healthier SG initiative, their lifestyle habits are not keeping pace. The research, released on 19 November 2025, indicates that despite the availability of clinical services, wellness services remain underutilised, and there is a lack of understanding about the importance of consistent primary care.

The study underscores the need for environmental changes that make healthy choices more intuitive and integrated into daily life. This is crucial as Singapore transitions into a super-aged society, where the proportion of older adults is significantly higher. The report suggests that bridging the gap between policy and practice requires more than just awareness; it needs actionable steps that encourage healthier living.

A symposium is scheduled to address these challenges and explore opportunities to enhance pro-health behaviours among Singaporeans. The event aims to bring together experts to discuss strategies for making healthy living a seamless part of everyday life. The findings highlight the importance of not only implementing strong health policies but also ensuring they translate into everyday actions, particularly for older adults.

As Singapore continues to age, the focus will be on creating environments that support healthier lifestyles, ensuring that the nation’s health initiatives are both effective and sustainable.

Global design firm WATG is marking its 80th anniversary by unveiling a forward-thinking vision for luxury, spearheaded by its first APAC-based Global CEO, David Moore. With 30 years of experience in Singapore, Moore is leveraging decades of data to redefine luxury, emphasising that “experiential luxury is the new currency.”

WATG’s innovative approach is exemplified by projects such as the artful reimagining of the Dangkou Ancient Town Hotel Wuxi, part of the MGallery Collection, and the transformative JW Marriott Jeju. These developments highlight the firm’s commitment to blending cultural heritage with modern luxury, setting new benchmarks in the industry.

Moore’s leadership from the Singapore hub is pivotal as the firm continues to expand its influence across the Asia-Pacific region. By focusing on experiential luxury, WATG aims to cater to the evolving preferences of modern travellers, offering sophisticated and culturally enriched experiences.

As WATG looks to the future, its projects like the Regent Bali Canggu and Lagen El Nido are poised to set new standards in luxury hospitality, combining elegance with environmental consciousness. This strategic direction not only celebrates the firm’s rich history but also charts a bold path forward in the luxury design landscape.

Nutanix, a leader in hybrid multicloud computing, has entered into a strategic Memorandum of Understanding (MOU) with SBS Transit, Singapore’s leading public transport operator. Announced at the International Metro Operators’ Summit 2025, the collaboration aims to modernise SBS Transit’s IT operations and enhance service quality through the Nutanix Cloud Platform (NCP).

The MOU outlines a comprehensive plan to leverage advanced cloud technologies to improve public transport services in Singapore. Nutanix will support SBS Transit in different key areas, including modernising IT infrastructure, enabling real-time data analytics for fleet management, and strengthening disaster recovery capabilities.

Ho Chye Soon, Singapore Country Manager at Nutanix, stated, “We are honoured to have the opportunity to partner with SBS Transit on this critical initiative to strengthen the digital infrastructure that powers the backbone of our Smart Nation.”

This partnership is expected to significantly improve the efficiency and reliability of SBS Transit’s operations, ultimately providing a better travel experience for passengers. As Singapore continues its journey towards becoming a Smart Nation, the collaboration between Nutanix and SBS Transit marks a pivotal step in integrating cutting-edge technology into public transport systems.

A recent survey by Sun Life reveals that a significant number of High-Net-Worth (HNW) individuals in Singapore are concerned about the longevity of their wealth, with 67% fearing it may not extend beyond their children’s generation. This underscores the importance of financial literacy and open discussions about money within families.

The survey, titled “Passing the torch: Building lasting legacies in Asia,” involved over 3,000 respondents across several Asian countries, including Singapore. It highlights the attitudes and aspirations surrounding legacy planning in the region. As Singapore is poised for a major intergenerational wealth transfer, effective legacy planning is becoming increasingly crucial, not just for financial assets but also for preserving family values and opportunities.

Key findings indicate that only 50% of HNW respondents are confident their children will uphold their wishes and preserve family assets. Furthermore, less than half (43%) feel fully prepared with their legacy arrangements. Despite recognising the importance of legacy planning, many have yet to take action, with only 25% having completed and communicated their plans.

Christopher Albrecht, CEO of Sun Life Singapore, noted a shift in how affluent families define legacy, moving from wealth alone to a combination of financial security and purposeful living. He emphasised the need for proactive planning and professional guidance to ensure enduring legacies.

The survey also found that financial literacy is increasingly seen as part of a legacy, with many families engaging in financial discussions and education to strengthen their heirs’ financial confidence. This approach aims to ensure that legacies remain resilient and meaningful across generations.

SIG Global is intensifying its support for Singapore’s small and medium-sized enterprises (SMEs) amidst escalating compliance demands and operational pressures. The firm is broadening its advisory services to assist businesses in navigating the increasingly stringent regulatory environment. SIG Global offers a comprehensive range of services, including corporate tax filing, GST bookkeeping, payroll, and company incorporation, leveraging its expertise with the Inland Revenue Authority of Singapore (IRAS) and the Accounting and Corporate Regulatory Authority (ACRA) guidelines.

Sheena Guan, COO at SIG Global, noted, “In the past year, we’ve seen more business owners asking for clearer guidance on compliance deadlines, tax reporting accuracy, and recordkeeping. Our goal is to take these pressures off their shoulders so they can focus on running and growing their business.”

Beyond routine filings, SIG Global provides personalised advisory services, such as early tax planning, GST risk checks, incorporation structuring, and accounting reviews. These services aim to help SMEs understand their financial position and make informed decisions, addressing areas where smaller businesses often need additional support.

As Singapore continues to enhance its business environment with stricter compliance standards, SIG Global plans to expand its capabilities to further support the SME community in the coming year. The firm remains committed to helping entrepreneurs and SMEs meet statutory requirements and build stronger financial foundations.

The Monetary Authority of Singapore (MAS) has announced the completion of the Equities Market Review Group’s assessment, unveiling several initiatives to bolster Singapore’s equities market. Key measures include a dual listing bridge between the Singapore Exchange (SGX) and Nasdaq, a S$30m “Value Unlock” package, and the appointment of a second batch of asset managers under the Equity Market Development Programme (EQDP).

The dual listing bridge aims to provide a streamlined pathway for companies to access capital across North America and Asia, targeting firms with a market capitalisation of S$2b and above. This initiative is expected to attract high-growth companies with global ambitions. The bridge’s regulatory framework is under consultation, with plans to launch by mid-2026.

The “Value Unlock” programme, backed by S$30m from the Financial Sector Development Fund, seeks to enhance investor engagement and shareholder value. It includes grants to improve corporate strategy and investor relations, alongside initiatives to boost communication and community collaboration.

MAS has also allocated S$2.85b to six asset managers, including BlackRock and Lion Global Investors, under the EQDP. This move aims to develop the local fund management industry and increase investor participation in Singapore equities.

Additional enhancements include modernising post-trade custody, reducing board lot sizes, and strengthening market-making capabilities. These efforts are designed to improve trading efficiency and broaden investor access.

With these initiatives, MAS aims to sustain momentum in Singapore’s equities market, which saw a 16% increase in average daily turnover in Q3 2025. The measures are part of a broader strategy to enhance the market’s attractiveness and support high-quality companies and startups.

CloudMile, a prominent AI company in Asia, has been appointed by Digital Industry Singapore (DISG) as a strategic partner under the Enterprise Compute Initiative (ECI), part of Singapore’s Budget 2025. This collaboration aims to bolster AI adoption and innovation across Singapore’s enterprise landscape, supported by up to S$150m in government funding.

The ECI, overseen by DISG, is a collaborative effort involving the Economic Development Board, Enterprise Singapore, and the Infocomm Media Development Authority. It focuses on accelerating AI and cloud technology use among local businesses, enhancing digital competitiveness, talent development, and scalability.

As a key technology partner, CloudMile will assist organisations in designing AI blueprints, identifying impactful use cases, and co-developing prototypes. The company will also offer post-prototype support, including change management and talent upskilling. CloudMile’s Generative AI Foundation Framework will guide enterprises through their AI journey, from opportunity assessment to deployment.

CloudMile has launched two AI acceleration programmes under the ECI: AI-DIVE, a discovery session to assess readiness, and AI-STRAT, a rapid prototyping track. Over the next year, CloudMile plans to engage with over 50 Singapore-based companies through workshops and consultations.

Jeremy Heng, Managing Director of Southeast Asia at CloudMile, stated, “We are honoured to work alongside DISG to help Singaporean companies embrace AI. Our Generative AI Foundation Framework is designed to put AI into practice, whilst having the agility to adapt to changing landscape.”

CloudMile invites Singaporean enterprises to join the ECI programme, offering end-to-end support across AI strategy and implementation, with consulting fees up to $110,000 (S$150,000), subsidised by up to 70%.

Amperesand, a leader in power infrastructure for AI data centres, has announced the successful closure of an $80m Series A funding round, co-led by Walden Catalyst Ventures and Temasek. This funding, the largest ever for a Solid State Transformer (SST) company, will enable Amperesand to focus on deploying 30MW of commercial systems by 2026, targeting hyperscale AI customers with critical power needs.

The investment round also saw participation from new investors such as Industry Ventures, Acclimate Ventures, and SG Growth Capital, alongside existing backers like Xora Innovation and TDK Ventures. Amperesand’s Medium Voltage Solid-State Transformer (MV SST) platform promises significant advancements in power density, efficiency, and scalability, crucial for AI data centres and other high-demand applications.

Young Sohn, Founding Managing Partner at Walden Catalyst Ventures, stated, “AI is redefining the limits of computing. But without a revolution in power infrastructure, this growth simply can’t scale. Amperesand is tackling one of the biggest bottlenecks in data centre power delivery.”

Amperesand plans to expand its engineering and manufacturing operations in the US and Singapore to meet the growing global demand for its critical power solutions. The company, which was incubated by Xora Innovation and spun out of Singapore’s Nanyang Technological University in 2023, has already secured multiple commercial pilots for 2026.

Phil Inagaki, Managing Partner at Xora, noted, “With $80m in fresh funds and an aggressive deployment schedule in 2026 across multiple customers, we expect Amperesand will extend its lead as the SST category leader.”