Industry News

A recent report by Prudential Singapore reveals that 83% of Singaporeans have delayed seeking medical care in the past year, prioritising work commitments and avoiding being a financial burden on their families. The Economist Impact report, titled “Patient Voices: Singapore Towards More Informed and Seamless Care,” highlights that many individuals also face uncertainty about where to seek help and worry about healthcare costs.

The report indicates that 61% of respondents feel they lack sufficient information to make informed treatment decisions, whilst 60% are unsure where to go when health issues arise. Dr Sidharth Kachroo, Chief Health Officer at Prudential Singapore, emphasised the need for a well-understood and accessible healthcare system, stating, “Support is available in both public and private sectors to provide patient choice and access to care.”

Initiatives like Healthier SG aim to clarify the healthcare journey by emphasising the role of family doctors. Dr Sarah Lu of Raffles Medical Group noted, “By actively managing our health with the help of our Family Physicians, we reinforce the focus for preventive, proactive, and personalised care.”

Cost remains a significant concern, with 23% of respondents citing it as a reason for delaying care. Nidhi Swarup, founding chairperson of the Alliance of Patients Organisations Singapore, highlighted the need for better education on planning for unexpected medical expenses.

Prudential’s report underscores the importance of improving patient experiences by providing clarity on costs and care pathways, ensuring Singaporeans can confidently seek necessary medical attention.

Singapore’s real estate market experienced a significant upswing in investment sales during the third quarter of 2025, according to the latest report by Realion’s ETC Research. The investment sales surged by 82.5% quarter-on-quarter (QoQ) to $7.4b (S$10.1b), primarily fuelled by Government Land Sales and developers’ preference for sites with ample amenities.

Office rents in the Central Region remained stable, with the Urban Redevelopment Authority’s rental index easing slightly by 0.1% QoQ. Central Business District (CBD) Grade A rents held steady at $7.20 (S$9.80) per square foot per month. However, island-wide office occupancy saw a minor decline of 0.2 percentage points to 94.8%, attributed to negative absorption in decentralised areas.

In the industrial sector, property prices increased by 0.6% QoQ, led by single-user factories, although this was a slower growth compared to the 1.4% in the previous quarter. Overall industrial occupancy rose by 0.3 percentage points to 89.1%, driven by warehouse demand. Industrial rents grew by 0.5% QoQ, a moderation from the 0.7% growth in Q2 2025.

The retail sector benefited from an influx of 4.5 million international visitors in Q3 2025, spurred by holidays and Meetings, Incentives, Conferences, and Exhibitions (MICE) events. Retail rents are anticipated to rise modestly, with leasing activity focusing on relocations, downsizing, and space optimisation due to rising costs and changing consumer preferences.

In the residential market, private home prices increased by 0.9% QoQ, with notable rises in both landed and non-landed properties in the Core Central Region (CCR) and Outside Central Region (OCR). Transaction volumes surged by 44.4% QoQ to 7,404 units, driven by higher primary sales, whilst rents edged up by 1.2% amid steady leasing activity.

These developments highlight a dynamic period for Singapore’s real estate market, with significant investment and growth across various sectors.

Wisma Atria has launched its first Barbie-themed Christmas event, “Upon Iridescent Wings,” running from 7 November to 26 December 2025. The event features a Barbie Couture Creations Exhibition at the L1 Indoor Atrium, showcasing over 70 unique Barbie dolls dressed in sustainable couture by local artists and designers. The exhibition, a collaboration with Jian Yang’s #FlushableFashion and Dawn Koh’s #wingsofchildhood, includes contributions from students at LASALLE College of the Arts and University of the Arts Singapore. Select dolls will be auctioned, with proceeds benefiting HCSA SPIN through the Community Chest.

The event also includes the Wings of Childhood Iridescent Angel Wings Workshops, held every Saturday until 20 December. Participants will create angel wings for Barbie dolls using upcycled materials, guided by paper sculpture artist Dawn Koh. Their creations will be displayed on LED screens on the L2 Outdoor Christmas Tree.

Brandon Teo, Deputy General Manager of Wisma Atria, stated, “Barbie symbolises imagination and hope, and has inspired generations to dream fearlessly and express themselves freely. These qualities underpin our Christmas theme ‘Upon Iridescent Wings’.”

The L2 Outdoor Space is transformed into a winter wonderland, featuring a 6-metre iridescent Christmas tree. Shoppers can participate in the Capture the Magic Instagram Photography Contest for a chance to win Wisma Atria e-vouchers. The event also introduces seven new brands to the mall, offering exclusive promotions and rewards throughout the festive season.

DBS and Kinexys by J.P. Morgan have announced a collaboration to develop a framework for interbank tokenised deposit transfers across multiple blockchains. This initiative seeks to create interoperability between DBS Token Services and Kinexys Digital Payments, allowing seamless exchange and settlement of tokenised deposits on both public and permissioned blockchains. The framework aims to set a new industry standard by enabling real-time, cross-bank transactions.

The collaboration will allow institutional clients of both banks to conduct transactions across borders with 24/7 availability. For instance, a J.P. Morgan client could use J.P. Morgan Deposit Tokens on the Base public blockchain to pay a DBS client, who could then exchange or redeem the tokens via DBS Token Services. This ensures that tokenised deposits remain fungible and represent the same value across different banks and blockchains.

Rachel Chew, Group Chief Operating Officer and Head of Digital Currencies at DBS Bank, highlighted the importance of interoperability in reducing fragmentation and enhancing the value of tokenised money. “Our collaboration with Kinexys by J.P. Morgan is a significant milestone for cross-border money movement,” she stated. Naveen Mallela, Global Co-Head of Kinexys by J.P. Morgan, emphasised the focus on building next-generation financial infrastructure through strong collaborations.

This initiative comes as tokenised finance experiences accelerated growth. A 2024 survey by the Bank for International Settlements revealed that commercial banks in nearly one-third of surveyed jurisdictions have explored tokenised deposits. Through this partnership, DBS and Kinexys by J.P. Morgan aim to advance the usability and scalability of tokenised deposits, transforming global financial management whilst ensuring regulatory compliance.

CapitaLand Ascendas REIT Management Limited has announced the divestment of 95 Gilmore Road, a logistics property in Queensland, Australia, for approximately S$90m. The sale, expected to complete in the fourth quarter of 2025, was negotiated on a willing-buyer and willing-seller basis, achieving a 9.5% premium over its independent market valuation as of 30 September 2025.

The transaction is part of CapitaLand Ascendas REIT’s (CLAR) strategy to optimise its portfolio and enhance returns for unitholders. The property was originally acquired in October 2015 for S$76.8m, and the current sale price represents a 17.2% premium over this purchase price. William Tay, Executive Director and CEO of the Manager, highlighted that this divestment is part of ongoing transactions totalling S$396 million, which are expected to be completed by the end of 2025. These transactions reflect a 6.6% premium over their collective market valuation.

The proceeds from the sale, estimated at S$83.4m after divestment costs, may be used for various purposes, including financing investments, reducing debt, and supporting corporate needs. The divestment is not anticipated to significantly impact CLAR’s net asset value or distribution per unit for the financial year ending 31 December 2025.

Following this divestment, CLAR will own 228 properties across Singapore, Australia, the United States, and the United Kingdom/Europe. The move aligns with CLAR’s broader strategy to maintain financial flexibility and pursue accretive investment opportunities.

Redux, a Singapore-based e-waste recycling company, has unveiled an advanced automated solar panel recycling facility to address the anticipated rise in photovoltaic (PV) waste over the next decade. The facility, part of Project SolaREV, aims to manage the decommissioning of solar panels efficiently as Singapore’s solar projects mature. Redux estimates that the number of solar panels to be decommissioned annually will increase from 138,522 to 143,000 over the next two years.

Solar panels globally experience an efficiency reduction of up to 80% after 25 years. However, in Singapore, due to limited maintenance services, panels often degrade by the 7-year mark, leading to early replacement and increased e-waste. Jeff Seah, Founder and Business Development Director of Redux, stated, “This is a fledgling industry for Singapore, with gaps in services to ensure truly sustainable solar panel maintenance and management.”

Project SolaREV, a collaboration between Redux, EtaVolt, and Vector Green, is designed to recover, recycle, and reuse up to 96% of each solar panel. The facility can process 18 panels per hour, or 36,000 annually, which is approximately 27% of Singapore’s current PV waste. The project integrates advanced automation with a partnership system to oversee end-to-end management of PV waste.

Seah added, “Project SolaREV is an industry-first to merge advanced automation with an integrated partnership and reporting system.” The initiative aims to set a benchmark for PV waste management across ASEAN, with a focus on sustainability and reducing carbon emissions.

Blue Planet Environmental Solutions Pte Ltd, a Singapore-based leader in sustainable waste management, has launched Blue Planet E-waste Solutions Pvt Ltd in India. This move follows the acquisition and integration of its subsidiaries in Haryana and Karnataka, formerly known as Pegasus Waste Management Pvt Ltd.

This strategic initiative positions Blue Planet as a significant player in India’s e-waste management sector. The company aims to address the growing challenge of electronic waste, as India is one of the top five e-waste producers globally. The sharp increase in discarded electronics presents both an environmental challenge and an opportunity to recover valuable resources through responsible recycling.

Blue Planet E-waste Solutions plans to develop a technology-enabled platform for managing e-waste, focusing on refurbishment, recycling, upcycling, and reusing components. The company will extend product lifecycles through refurbishment, recover usable parts from non-refurbishable items, and recycle the remaining materials, extracting valuable metals and plastics for reintroduction into manufacturing supply chains.

Ravi Kumar Neeladri, CEO of Blue Planet E-waste Solutions, emphasised the importance of transparency and sustainability in recycling, stating, “In a technology-driven world, e-waste generation is inevitable — but the way we manage it defines our collective future.”

This launch marks a significant milestone in Blue Planet’s mission to build a transparent and scalable recycling infrastructure in India, uniting technology, compliance, and sustainability under a single identity. The initiative aims to lead the transformation of e-waste management in the country, ensuring a cleaner and more sustainable future.

Medical costs in Singapore are projected to rise by 16.9% in 2026, surpassing this year’s rate of 15.5%, according to WTW’s 2026 Global Medical Trends report. This increase is part of a broader trend in the Asia Pacific (APAC) region, which is expected to experience the highest global increase at 14%. The report highlights the need for companies to consider co-pay or co-insurance designs to manage costs and discourage excessive claims.

The report reveals that 57% of insurers in APAC expect medical cost trends to continue rising over the next three years, with 42% anticipating these levels to persist beyond that. Key drivers include new medical technologies, cited by 77% of insurers as the primary factor, followed by advancements in pharmaceuticals and a lack of cost-sharing mechanisms.

In Singapore, factors such as an ageing population, increased disease incidence, and the adoption of costly new technologies contribute to the rising costs. The shortage of healthcare staff and high operating expenses also play a role. Fong Han Wei, Head of Health & Benefits in Singapore, noted that insurers are raising co-pays and deductibles to share costs with insured members.

Eva Liu, Head of Strategic Development, Asia Pacific, Health & Benefits at WTW, emphasised the importance of understanding these trends to develop effective strategies. She suggested that employers invest in education and prevention, and incorporate flexibility into employee benefits programmes to manage costs effectively.

Aster and Aether Fuels have announced a partnership to establish Southeast Asia’s first next-generation, commercial-scale Sustainable Aviation Fuel (SAF) plant at Aster Pulau Bukom in Singapore. The facility, set to begin construction in 2026 and operations in 2028, will utilise Aether’s Aurora technology to convert industrial waste gas and biomethane into SAF, achieving more than a 70% reduction in greenhouse gas emissions compared to conventional jet fuel.

The project, named Project Beacon, is a significant step in advancing SAF production, addressing current feedstock constraints. Aster will provide renewable power and waste carbon feedstock, supporting the development of Aether’s scalable solution. Erwin Ciputra, CEO of Aster, highlighted the collaboration as a demonstration of how partnerships can introduce disruptive solutions on a commercial scale, aligning with Aster’s sustainability agenda.

Conor Madigan, CEO of Aether Fuels, praised Singapore’s innovation ecosystem and support from the Economic Development Board (EDB), noting the project’s meaningful connection to Aether’s origins at Xora Innovation. The facility aims to position Southeast Asia as a global hub for sustainable fuels.

Png Cheong Boon, Chairman of the EDB, emphasised the facility’s role in enhancing Singapore’s competitiveness in sustainable products and innovation. Project Beacon will utilise a variety of waste carbon feedstocks, overcoming limitations of previous SAF production methods and paving the way for future advancements in sustainable aviation fuel.

The recent Urban Redevelopment Authority (URA) tender for a residential site at Bukit Timah Road has concluded with a top bid of $1,820 per square foot per plot ratio (psf ppr), submitted by HH Investment Private Limited. This bid, which exceeded expectations, highlights a strong recovery in homebuying interest, driven by low interest rates and economic resilience.

The Bukit Timah Road site, which can accommodate 340 units, attracted eight bids, making it one of the most popular tenders of 2025. The top bid was 12.3% higher than the second-highest bid of $1,621 psf ppr from Hoi Hup Realty and Sunway Developments, and 17% above the third-highest bid by Wing Tai Holdings Limited. This indicates varying perspectives on the site’s value among developers.

Tricia Song, Head of Research at CBRE Singapore and Southeast Asia, noted that the site’s appeal lies in its connectivity and proximity to Newton MRT, as well as its location within 1km of two primary schools. The site is also part of the Draft Master Plan 2025, which aims to transform the Newton area into a balanced residential and lifestyle hub.

The top bid of $1,820 psf ppr is the highest for a Core Central Region (CCR) site since 2018, when a site on Cuscaden Road fetched $2,377 psf ppr. The Bukit Timah Road site is expected to launch at an average price of $3,300 to $3,500 psf, reflecting its prime location and the strong demand for residential properties in the area.