Industry News

Anaplan has announced the launch of its new Amazon Web Services (AWS) data centre in Singapore, a strategic move aimed at accelerating digital transformation across Southeast Asia. This expansion will empower businesses with advanced artificial intelligence (AI) capabilities for real-time planning and decision-making, enhancing Anaplan’s global infrastructure with faster data processing, improved security, and regulatory compliance.

The new data centre is particularly significant for industries such as the public sector and financial services, where protecting sensitive information and meeting local data sovereignty requirements are critical. Carol Potts, general manager for North America ISV sales at AWS, described the launch as a “strategic milestone” that reinforces Anaplan’s commitment to customers across the Asia-Pacific region.

Businesses leveraging the Anaplan platform will benefit from AI-driven insights, enabling more informed, data-driven decisions that streamline operations and improve efficiency. The centre ensures that data remains within Singapore, adhering to local regulations, and supports companies in embedding AI technology into planning processes, driving innovation and competitiveness.

Amit Bagga, managing director, APAC, at Anaplan, expressed delight in bringing the platform to Singapore, highlighting the importance of data sovereignty for clients. The new location allows businesses to optimise and unify their finance, workforce, sales, and supply chain planning processes with confidence.

This development is part of Anaplan’s $500m innovation roadmap, which includes other data centre expansions in India, Indonesia, and Australia, further solidifying its commitment to the Asia-Pacific region.

DBS, Southeast Asia’s largest bank, and Granite Asia, a leading multi-asset investment platform, have announced a strategic partnership to accelerate the growth of high-potential Asian companies. This collaboration, formalised through a memorandum of understanding, includes the launch of a $110m AI-focused initial public offering (IPO) fund, exclusively available to DBS’ wealth clients. The fund aims to bolster the region’s AI ecosystem by investing in high-growth AI-driven companies.

The partnership is a pioneering effort in the region, combining DBS’ banking expertise with Granite Asia’s investment acumen. The AI IPO fund, which has attracted investors from Southeast Asia, South Asia, and Europe, is the first in a series of planned funds. It reflects a strong global interest in Asia’s burgeoning AI sector, where over 13,000 AI-driven companies have been founded since 2015.

DBS will provide comprehensive support to Granite Asia’s funds and portfolio companies, offering services ranging from subscription financing to advisory for mergers and acquisitions. Tan Su Shan, CEO of DBS, highlighted the partnership’s significance, stating, “This partnership reflects our heritage as a development bank and our commitment to power Asia’s next generation of global category leaders.”

Granite Asia’s Senior Managing Partners, Jenny Lee and Jixun Foo, emphasised the collaboration’s potential to support founders and companies as they expand internationally. With capital flows into Asia expected to rise, the initiative aims to create a vibrant funding ecosystem, enhancing access to growth capital for ambitious companies.

The partnership marks a significant step in fostering innovation and growth in Asia’s technology sector, with future plans to develop additional funds and co-investment opportunities.

CIMB Singapore has been recognised as one of the top 300 employers in the city-state and honoured as a “Career Builder” in the inaugural Singapore Opportunity Index (SOI) by the Ministry of Manpower. The SOI assessed nearly 1,500 of Singapore’s largest organisations across five dimensions: pay, progression, gender parity, retention, and hiring practices, with only the top 20% making the list.

The accolade highlights CIMB Singapore’s leadership in talent and career development. Andrew Boey, Chief Financial Officer and Officer-in-Charge, stated, “This achievement reflects the culture we’ve built together, where opportunity isn’t just a promise but a daily practice.” He emphasised the bank’s commitment to inclusive hiring and career progression.

CIMB Singapore has implemented various initiatives to enhance employee wellbeing, including annual health checks, vaccinations, a flexible wellness wallet, and employee engagement activities like festive lunch celebrations. Additionally, the bank has introduced a Generative AI bot to simplify work processes and offers AI, data, and analytics training to futureproof its workforce.

The bank’s efforts have also earned it the title of Top Employer in Singapore for 2025 and 2026 by Influential Brands and a Great Place to Work® certification in 2025, based on employee feedback. These recognitions underscore CIMB Singapore’s dedication to fostering a workplace where innovation and excellence thrive.

RafflesMedicalGroup has announced a robust financial performance for the second half of 2025, with Profit After Tax and Minority Interests (PATMI) increasing by 22% to S$38.5m compared to the same period in 2024. The full-year PATMI for 2025 also saw a 13.4% rise, reaching S$70.6m, bolstered by strong performances in the Hospital Services and Insurance divisions, as well as gains from investment properties.

The Group’s revenue for the full year grew by 1.8% to S$765.3m, attributed to higher patient volumes, improved average bill sizes, and operational efficiencies. The Hospital Services Division alone reported a 3.5% increase in revenue, amounting to S$357.8m, with profits rising by 15.3% to S$41.1m. This growth was supported by steady patient volumes and operational efficiencies in both Singapore and China.

RafflesHealthinsurance recorded a 4.1% revenue growth, reaching S$185.2m in 2025, driven by contract repricing and new contracts. Despite a challenging insurance environment, profitability improved by 50.6% due to disciplined claims management and expense control.

The Group maintained a healthy cash position with S$310.8m in cash and equivalents as of 31 December 2025, allowing for strategic growth initiatives and shareholder returns. A final dividend of 3.0 cents per share has been proposed, representing 84% of sustainable Group PATMI.

Looking ahead, RafflesMedicalGroup plans to expand its services across Asia and adopt advanced technologies, including AI, to enhance healthcare delivery. The upcoming RafflesHealthyLongevityCentre, set to open in Q1 2026, will focus on personalised and preventive care, aiming to help individuals achieve healthier, longer lives. The Group remains optimistic about its profitability in FY2026, as it continues to adapt to demographic and regulatory changes in its operating regions.

Seatrium Limited has announced plans to achieve over S$50m in operational cost savings by early 2026 through a series of non-core asset divestments. The Singapore-based engineering solutions provider is accelerating its asset portfolio optimisation strategy to streamline operations and enhance long-term shareholder value.

Recent divestments include the sale of the AmFELS yard in Texas and GNL Platform Supply Vessels, with all transactions expected to complete by early 2026. These moves are part of Seatrium’s efforts to optimise its cost structure and sharpen its competitive edge. The company is also divesting a fleet of 17 tugboats in Singapore for S$104m, with a towage services agreement ensuring continuity of services.

In January 2026, Seatrium sold its Can-Do 2 floating dock for S$16.9m, a transaction expected to eliminate vessel-related expenses. Additionally, the Karimun Yard in Indonesia was divested for S$22m in December 2025, centralising Seatrium’s operations on Batam Island.

The Crescent Yard in Singapore is also set for divestment, with completion expected by the first quarter of 2026. These strategic moves are designed to position Seatrium for greater agility and to capture emerging opportunities in the global offshore, marine, and energy industries.

Oiltek International Limited has announced the acquisition of new contracts valued at RM37.2m across several global markets, including the Philippines, Africa, Pakistan, and Malaysia. These contracts, which will be fulfilled over the next 18 to 24 months, are expected to positively impact the company’s financial performance for the year ending 31 December 2026.

The contracts involve the design, fabrication, delivery, testing, and commissioning of various plants and systems. Specifically, Oiltek will construct a 200 metric tonnes per day (MTD) biodiesel plant in the Philippines, a 100 MTD physical refinery plant in Africa, a 100 MTD neutralisation plant in Pakistan, and a glycidyl esters mitigation system for an existing 700 MTD physical refinery plant in Malaysia.

Henry Yong Khai Weng, Executive Director and CEO of Oiltek, highlighted the company’s resilience and adaptability in securing these orders, which underscore the strength of its geographically diversified business. “Our expanding international footprint mitigates concentration risk and enhances revenue stability,” he stated.

With these new contracts, Oiltek’s current order book stands at approximately RM350m. The company, listed on the SGX Mainboard, continues to focus on delivering sustainable growth and creating long-term value for its shareholders through disciplined cost management and strong supply chain execution.

Uttar Pradesh Chief Minister Yogi Adityanath is in Singapore from 22 to 24 February 2026 to strengthen economic and strategic cooperation between Uttar Pradesh and Singapore. The visit is part of the India–Singapore Comprehensive Strategic Partnership Roadmap, focusing on economic cooperation, digitalisation, skills development, sustainability, connectivity, and advanced manufacturing.

During his visit, Adityanath will meet with Singapore’s political leaders, including Prime Minister Lawrence Wong, Foreign Affairs Minister Vivian Balakrishnan, Manpower Minister Tan See Leng, and President Tharman Shanmugaratnam. The agenda includes discussions with sovereign and institutional investors like Temasek and GIC, and business leaders in sectors such as data infrastructure, logistics, aviation services, and advanced manufacturing.

Key areas of focus include digital infrastructure and data centres, with Uttar Pradesh offering land near Noida International Airport for hyperscale and AI-enabled data infrastructure. The state is also exploring partnerships in aviation, maintenance, repair, and operations (MRO), and air cargo logistics, leveraging Singapore’s expertise. Skill development and technical and vocational education and training (TVET) collaboration are also on the agenda, alongside green energy and industrial development initiatives.

Uttar Pradesh, India’s most populous state, is experiencing rapid economic growth, with its Gross State Domestic Product projected to reach ₹36 lakh crore in 2025–26. Singapore remains a significant partner, being India’s largest source of foreign direct investment, contributing $14.94b in FY 2024–25.

The visit will conclude with the Invest UP Mega Roadshow, showcasing investment opportunities in digital infrastructure, aviation-linked industrial development, renewable energy, advanced manufacturing, and logistics. This initiative aims to position Uttar Pradesh as a competitive investment destination and establish structured follow-up mechanisms to convert high-level engagements into concrete projects.

Vicom Ltd has reported a substantial financial performance for the year ending 31 December 2025, with group revenue soaring by 40.1% to $167.4m. The company’s operating profit also saw a notable increase of 49.7%, reaching $51.8m, whilst net profit attributable to shareholders rose by 45.1% to $42.5m. A final dividend of 5.30 cents per share has been recommended.

The impressive financial results underscore Vicom’s robust operational strategies and market positioning. The company attributed its revenue growth to increased demand for its services, which has been reflected in the significant rise in operating profit.

The company’s financial statements reveal that total operating costs increased by 36.2% to $115.6m, driven by higher staff costs and contract services. Despite these rising costs, Vicom’s profit before taxation climbed by 45.7% to $52m, highlighting efficient cost management and operational effectiveness.

Looking ahead, Vicom’s strong financial performance positions it well for future growth and expansion. The recommended dividend reflects the company’s confidence in its ongoing profitability and commitment to rewarding its shareholders. As the company continues to build on its successes, stakeholders can anticipate further positive developments in the coming year.

CapitaLand Ascott Trust (CLAS) has announced the acquisition of three freehold rental housing properties in Southern Kanagawa, Greater Tokyo, Japan, for S$38.3m (JPY4.6b). The properties—Lime Residence Hiratsuka West, Lime Residence Hiratsuka East, and Live Casa Hiratsuka—were purchased from an unrelated third party and boast an average occupancy rate of over 95%, offering stable income with average lease terms of about two years.

The acquisition aligns with CLAS’s strategy to strengthen its presence in key markets and expand its living sector portfolio. Funded by JPY-denominated debt, the acquisition is expected to yield a blended net operating income entry yield of 4.1% and a 0.2% accretion in Distribution per Stapled Security (DPS) on a FY 2025 pro forma basis. Serena Teo, CEO of CapitaLand Ascott Trust Management Limited, stated, “The acquisition is in line with our strategy to strengthen CLAS’ presence in key markets whilst building a resilient portfolio anchored by stable and recurring income streams.”

Strategically located along the Sagami Bay coastline, the properties are well-connected to major transport hubs, with easy access to Yokohama and central Tokyo. This prime location is expected to attract strong corporate demand from nearby industrial areas, appealing to working professionals seeking an idyllic coastal lifestyle.

Following this acquisition, living assets will constitute 17.5% of CLAS’s portfolio value, with a medium-term target of 25%-30% in the living sector. CLAS continues to optimise its portfolio in Japan, having recently divested Citadines Central Shinjuku Tokyo for S$222.7m (JPY25b), and plans to reinvest in higher-yielding properties.

DBS has announced its first social loan for the healthcare sector, providing a S$72m (JPY 8.8b) facility to Parkway Life REIT (PLife REIT). The 10-year loan will fund elder care facilities in Japan, addressing the urgent demand for quality aged care services as the country’s population aged 65 or older reached a record 36.25 million in 2024, accounting for 30% of the population.

The loan is part of PLife REIT’s Sustainable Finance Framework, developed with DBS as the sole sustainable finance adviser. This framework aligns with international principles, including the Social Loan Principles, and supports projects in Singapore, Japan, and Europe. These projects focus on healthcare and eldercare infrastructure, energy efficiency, renewable energy, and climate-resilient improvements.

Yong Yean Chau, CEO of Parkway Trust Management Limited, highlighted the significance of this refinancing exercise, stating, “This refinancing exercise marks an important milestone in PLife REIT’s sustainable financing journey, as we undertake our inaugural 10-year social loan under the Sustainable Financing Framework.”

Eugene Hong, Head of Healthcare and Pharmaceuticals at DBS, emphasised the importance of sustainable financing in the healthcare sector, noting, “As DBS’ first social loan in the healthcare sector, this transaction demonstrates how a well-structured sustainable financing framework can move quickly from intent to impact.”

Shilpa Gulrajani, Head of Sustainable Finance at DBS, added, “Sustainable finance goes beyond addressing environmental challenges – it is increasingly also about delivering meaningful social impact.”

This initiative marks a significant step in addressing Japan’s demographic challenges and enhancing healthcare infrastructure through sustainable financing.