Industry News

Singapore Management University (SMU), in collaboration with a global consortium of universities and finance leaders, has unveiled the Sustainable Finance Taxonomy Mapper. This pioneering platform, launched on 17 November 2025, is designed to compare and connect sustainable finance taxonomies across different countries, facilitating a shared understanding of taxonomy design and enhancing global interoperability in sustainable finance standards.

The initiative, developed with partners including Dublin City University, the University of Edinburgh, and the Climate Bonds Initiative, seeks to support policymakers and improve the design of sustainable finance policies. Dr Theodor Cojoianu of SMU, who co-leads the research team, highlighted the platform’s role in providing data and tools for effective policy design, stating, “Our sustainable finance mapper tool and academic network will support policymakers, financial services actors, and civil society.”

The project is co-funded by the European Union and the German Federal Ministry for Economic Cooperation and Development. It invites global academic institutions to contribute to expanding the platform, aiming to bridge the divide in green finance policies worldwide. Sean Kidney, CEO of the Climate Bonds Initiative, remarked, “The next step is a tool to navigate seamlessly across them, quickly finding the extensive common ground.”

SMU’s involvement underscores its commitment to transformative education and impactful research, aligning with its 2030 Strategic Plan. The university’s active participation in global discussions on climate change and sustainable finance further exemplifies its role in shaping international standards. Prof Elvin Lim, Dean of SMU’s College of Integrative Studies, expressed excitement about the college’s role in fostering international research partnerships on green finance policies.

Yangzijiang Maritime Development Ltd. has announced the signing of contracts to sell four new medium-range tankers for a total of US$180m. Additionally, the company has entered into letters of intent for joint ventures to construct eight new vessels, including four medium-range tankers and four bulk carriers. These developments are part of Yangzijiang Maritime’s strategy to optimise its fleet and capitalise on opportunities in the global maritime industry.

The contracts for the sale of the tankers, each with a deadweight tonnage (DWT) of 49,800, have been signed with a shipowner based in the Marshall Islands. These vessels are currently under construction at a Chinese shipyard and are expected to be delivered between 2026 and 2027.

In a parallel move, Yangzijiang Maritime has signed letters of intent to establish joint ventures for building four additional medium-range tankers with a European shipowner and four bulk carriers with a Singapore-based shipowner. These vessels will also be constructed at Chinese shipyards, with delivery anticipated between 2027 and 2028. The company will hold majority equity interests in these joint ventures, aligning with its portfolio diversification strategy.

Ren Yuanlin, Executive Chairman and CEO of Yangzijiang Maritime, stated, “These transactions mark important progress in Yangzijiang Maritime’s strategic journey as a one-stop maritime financial solutions provider.”

Yangzijiang Maritime is set to commence trading on the Main Board of the Singapore Exchange on 18 November 2025, following its spin-off from Yangzijiang Financial Holding Ltd. This move is expected to further strengthen the company’s position in the maritime financial solutions sector.

Dell Technologies has unveiled the findings of its “Dell Technologies Insights Singapore 2025” survey, highlighting a paradox in Singapore’s approach to artificial intelligence (AI). Whilst Singaporean companies are rapidly adopting AI and Generative AI (GenAI) at rates comparable to the Asia Pacific and Japan (APJC) region, they remain cautious about the return on investment (ROI) from these technologies.

The survey, which included 100 Singaporean respondents, found that 72% of companies view innovation as a key business strategy, with 73% considering AI central to their vision. Despite this strategic focus, Singaporean firms anticipate a 26.9% ROI from AI, below the APJC average of 33.3%. This cautious outlook is further reflected in the 42% of companies expressing pessimism about AI’s short-term value.

Andy Sim, Vice President and Managing Director of Dell Technologies Singapore, noted, “High AI adoption paired with cautious ROI expectations shows that organisations are being intentional and critical about where AI delivers real value.” He added that whilst 52% of Singaporean companies are in the early to mid-stages of AI adoption, 95% acknowledge challenges in integration, data security, and workforce skills.

The survey also identified barriers to AI adoption, including data security concerns, regulatory compliance, and integration with existing systems. Additionally, 97% of companies face challenges in preparing data for AI, with issues such as data privacy and infrastructure integration being prominent.

As Singaporean businesses navigate these complexities, the survey suggests that holistic strategies, cross-functional collaboration, and trusted partnerships are essential for successful digital transformation. The findings underscore the need for robust infrastructure and skilled talent to harness AI’s potential effectively.

DBS and UnionPay International have announced the launch of the SplendorPlus campaign for the DBS UnionPay Platinum Debit Card, aiming to enhance financial connectivity between China and Singapore. The initiative, effective until 31 March 2026, offers cardholders up to 8% cashback and a 3% waiver on transaction fees for spending in China, providing a total benefit of up to 11%.

The campaign is part of a broader effort to support economic and cultural exchanges between the two nations, leveraging UnionPay’s extensive global merchant network. Cardholders can enjoy seamless transactions not only in China but also across countries involved in the Belt and Road Initiative, embodying the concept of “One Card Travel Across Asia.”

Additional perks include the UnionPay Global Privileges programme, which offers benefits such as complimentary hotel upgrades, dining discounts, and leisure privileges. These enhancements aim to deliver a premium cross-border payment experience, ensuring convenience and rewards for consumers.

To cater to the rising demand for mobile payments in China, cardholders can link their DBS UnionPay Platinum Debit Card to Alipay or WeChat Pay, enjoying a 3% waiver on transaction fees for transactions above RMB200. Furthermore, zero overseas ATM withdrawal fees offer savings of up to $5 (S$7) per transaction, making cash withdrawals abroad more convenient.

This initiative not only reduces the cost of cross-border mobile payments but also strengthens digital finance innovation and integration between China and Singapore.

Skylink Holdings, a prominent commercial vehicle leasing company in Singapore, has announced a significant 33.8% increase in revenue for the first half of 2026, following its successful reverse takeover (RTO) of Sincap Group Limited. The company’s revenue reached S$16.14m, bolstered by a 52.6% rise in its Commercial Vehicle Leasing segment and an 11.6% increase in its Engineering business.

The Group’s Credit business maintained a healthy loan book of S$66.3m as of 30 September 2025, with its paid-up capital recently increased by S$4m to S$7m. Despite higher depreciation costs due to increased Certificate of Entitlement (COE) prices, Skylink’s gross profit rose by 12.7% in 1H2026.

Executive Director and CEO Wesley Shen highlighted the company’s strategic positioning post-RTO, stating, “Following the milestone of our recent listing, the Group continues to deliver strong business performance that reflects not only the underlying strength and resilience of our business model but also the commitment and dedication of our team to deliver tangible results.”

Skylink’s net operating cash flows amounted to S$5.84m, underscoring the strength of its cash-generative activities. The company aims to leverage its listed status to accelerate growth across its core business segments, focusing on expanding its commercial leasing platform and enhancing its integrated ecosystem of mobility solutions.

Looking forward, Skylink Holdings is committed to scaling its business model to better serve its customers, reinforcing its position as a leading player in Singapore’s commercial vehicle leasing market.

Statrys has announced its expansion into Singapore, unveiling a non-traditional business account solution aimed at transforming how entrepreneurs, small and medium-sized enterprises (SMEs), and start-ups manage their finances across borders. This new offering provides both local and international businesses in Singapore with a platform designed to simplify cross-border payments, featuring competitive foreign exchange rates and personalised service.

The expansion is tailored to address the unique needs and challenges faced by SMEs, with Statrys aiming to streamline financial processes and facilitate easier navigation of international markets. The platform’s additional features are intended to optimise financial operations, thereby supporting sustainable global growth for businesses.

Statrys’ commitment to understanding and meeting the specific requirements of SMEs is evident in this new solution. By offering a comprehensive service that simplifies complex financial transactions, the company seeks to empower businesses to expand their reach and efficiency in the global market.

This strategic move by Statrys highlights the growing demand for innovative financial solutions that cater to the evolving needs of businesses operating in a globalised economy. As Singapore continues to be a hub for international business, the introduction of such solutions is likely to have significant implications for the financial landscape, potentially setting new standards for business account services in the region.

JTC has awarded the tender for the industrial site at Plot A Tuas Bay Drive to Zulin (S.E.A) Pte Ltd, following a competitive bidding process. The tender, which was launched on 26 August 2025 and closed on 21 October 2025, attracted two bids, with Zulin emerging as the successful bidder at a sum of $4.885m.

The awarded land parcel, located at Plot A Tuas Bay Drive, is zoned for Business 2 activities. It spans an area of 6,338.1 square metres and comes with a tenure of 23 years. The site has a gross plot ratio of 1.4, and the project is expected to be completed within 60 months.

This development is significant for Zulin as it expands its footprint in Singapore’s industrial sector. The strategic location and zoning of the site are expected to support the company’s business operations and growth plans.

The tender process reflects JTC’s ongoing efforts to facilitate industrial development in Singapore, providing opportunities for businesses to expand and innovate. The successful bid by Zulin underscores the company’s commitment to enhancing its capabilities and presence in the region.

As the project progresses, it will be interesting to observe how Zulin utilises the site to further its business objectives and contribute to the industrial landscape in Singapore.

Metro Holdings Limited, a property investment and development group, has reported a pre-tax loss of S$12.9m for the first half of the financial year ending 30 September 2025 (1HFY2026). This marks a significant downturn from the S$7.0m profit before tax recorded in the same period last year.

The loss is attributed primarily to a S$13.7m decrease in interest income, alongside a S$4.6m increase in the share of losses from associates and a S$3.5 million drop in joint venture profits. These declines are largely due to higher fair value losses on properties in China. Additionally, the retail division’s contributions fell by S$1.6m. However, the impact was somewhat offset by a reduction in finance costs by S$3.3m, thanks to lower average interest rates and borrowings.

Revenue for 1HFY2026 decreased by 13.9% to S$41.6m, down from S$48.4m in the previous year, driven by reduced retail contributions and lower rental income from GIE Tower in China. Despite these challenges, Metro Holdings maintains a robust balance sheet, with net assets valued at S$1.1b and total assets at S$2.0b.

Metro’s proactive asset management strategy included the sale of approximately 29% of the strata area at VisionCrest Orchard, a Grade-A office building in Singapore. Chairman Tan Soo Khoon noted the ongoing global uncertainties and market headwinds, particularly the slowdown in China’s property sector and Singapore’s retail challenges. He emphasised the company’s commitment to maintaining financial strength and optimising returns through diversified portfolios and prudent capital management.

UBS has announced a strategic partnership with Ant International to explore blockchain-based innovations for global payments settlement and liquidity management. The collaboration, formalised through a Memorandum of Understanding (MoU) signed at UBS’s Singapore office, will see Ant International utilise UBS Digital Cash, a blockchain-based payment platform, to enhance its global treasury operations.

The partnership aims to leverage blockchain technology to improve efficiency, transparency, and security in cross-border payments. UBS Digital Cash, piloted in 2024, will support Ant International’s operations by enabling real-time, multi-currency fund flows without the constraints of traditional payment cut-off times. This initiative will also incorporate Ant’s proprietary Whale platform, a next-generation treasury management solution.

Young Jin Yee, Co-Head of UBS Global Wealth Management Asia Pacific, highlighted the collaboration’s significance, stating, “This partnership underscores our commitment to empowering our clients with best-in-class platforms and providing them with greater access to global financial markets.” Kelvin Li, General Manager of Platform Tech at Ant International, expressed enthusiasm for the partnership, noting the shared belief in blockchain’s potential to transform cross-border payments.

The alliance between UBS and Ant International underscores their mutual focus on innovation and digitalisation, aiming to set new standards in the financial technology landscape. This collaboration is expected to enhance client value by providing more efficient and transparent financial solutions.

Phillip Securities, a Singapore-based financial institution, has partnered with Integral, a leading US currency technology provider, to enhance its institutional foreign exchange (FX) offerings. This collaboration, announced on 13 November 2025, aims to expand Phillip Securities’ FX trading capabilities, traditionally focused on retail markets, by integrating Integral’s pricing and distribution solutions.

The integration will enable Phillip Securities to manage higher volumes of FX Contracts for Difference (CFDs) and offer Direct Market Access (DMA) trading, providing faster and more transparent execution across a broader range of FX instruments. This move is in response to growing market demand for FX CFDs and aims to complement the firm’s existing equity CFD services.

Luke Lim, Managing Director of Phillip Securities, highlighted the strategic importance of this partnership, stating, “Diversifying into the institutional markets is a key pillar of our development strategy, and Integral’s solutions give us the pricing precision and distribution efficiency to deliver an institutional-grade FX capability that meets the expectations of today’s professional clients.”

Integral’s CEO, Harpal Sandhu, expressed confidence in the partnership, noting, “Phillip Securities’ selection of Integral is a testament to the value delivered by our solutions for other members of PhillipCapital group, upgrading the trading infrastructure and delivering tangible results.”

This collaboration marks a significant step for Phillip Securities as it seeks to expand its institutional client base and adapt to evolving market conditions. The scalability of Integral’s technology also positions Phillip Securities to incorporate additional FX instruments in the future, further solidifying its presence in the institutional FX market.