Industry News

CapitaLand Investment Limited (CLI) has announced strategic investments to bolster its logistics capabilities across the Asia Pacific region. The company is making a minority investment in Ally Logistic Property (ALP), a leader in smart logistics infrastructure, and an existing capital partner in the CapitaLand Southeast Asia Logistics Fund (CSLF).

CSLF is committing S$260m to develop OMEGA 1 Singapore, its first automated logistics facility in the city-state. These initiatives are part of CLI’s strategy to expand its logistics platform in high-growth markets such as Australia, Japan, and the United States.

CLI’s investment in ALP aims to leverage ALP’s expertise in logistics automation, enhancing CLI’s fund management and capital-raising capabilities. Patricia Goh, CEO of Southeast Asia and Global Head of Logistics & Self-Storage at CLI, highlighted the region’s rapid growth, stating, “APAC remains the fastest-growing logistics region, with a projected compound annual growth rate of 15.2% between 2024 and 2030.”

The OMEGA 1 Singapore facility, located in Jurong Industrial Estate, will feature advanced technologies like robotics and automated storage systems. Scheduled for completion in 2028, it will offer 71,000 square metres of space and accommodate 60,000 pallet positions. The facility aims to achieve Green Mark GoldPLUS certification for its sustainable design.

CSLF was launched in 2022 and it is expanding its portfolio with projects in Thailand and Vietnam. The fund’s diversification strategy includes a significant site in Thailand and a ready-built factory in Vietnam, both set to enhance regional logistics infrastructure.

PaxOcean Group and ABB have announced a significant milestone in their collaboration on Singapore’s first fully electric tug, PXO-ACE-1, which has completed its commissioning phase. The vessel, featuring ABB’s integrated electric propulsion system, is set to be deployed in April 2026 as part of Singapore’s harbour craft electrification strategy.

The PXO-ACE-1, built by PaxOcean Group, a subsidiary of Kuok Maritime Group, is a 50-tonne bollard pull tug designed for efficient, emission-free operations. This development aligns with the Maritime and Port Authority of Singapore’s mandate for all new harbour craft to be fully electric or compatible with B100 biofuels or net-zero fuels by 2030. The electric tug aims to improve local air quality and reduce onboard noise and vibrations, enhancing the working environment for crew members.

ABB’s Onboard DC Grid™ and PEMS™ power and energy management system are central to the tug’s operation, enabling optimal use of its three-megawatt-hour battery pack. This system supports wide variations in power demand, including instant high torque, and optimises drivetrain efficiency.

Tan Thai Yong, Managing Director and CEO of PaxOcean Group, stated, “Developing Singapore’s first fully electric tug is a significant achievement and an important step in advancing maritime decarbonisation.” Olli Tuunainen, ABB’s Local Business Line Manager, added, “We are proud to be part of this groundbreaking project for Singapore, supporting the world’s maritime capital in its journey towards fully electric harbour operations.”

This project is expected to serve as a blueprint for further electrification efforts in Singapore and across Asia.

HSBC Life Singapore has introduced the HSBC Life Indexed Flexi Income, an innovative indexed universal life (IUL) plan designed to offer lifetime income, wealth accumulation, and protection across various life stages. This launch aims to cater to Singapore’s evolving longevity and retirement trends, enabling customers to plan confidently for the future.

The plan’s standout features include flexible lifetime income options, allowing policyholders to activate guaranteed increasing income up to age 120. Customers can decide when to start receiving income and have the flexibility to pause or resume payouts as their needs change. Additionally, the plan offers the potential for wealth accumulation by allowing premium allocation to an Index Account with access to multiple market indices or a General Account for guaranteed returns. A floor rate of up to 1% ensures downside protection.

Moreover, the plan provides life insurance coverage for death and terminal illness, supporting inter-generational wealth transfer through succession planning features that can be passed down to five future generations. This launch is part of HSBC Life Singapore’s broader strategy to expand its integrated solutions portfolio, which includes the recent opening of its first integrated Health and Wellness Centre at the Star Vista Wealth Centre and enhancements to its high-net-worth product suite.

Ranked as the top high-net-worth insurance brand in Singapore by Affluential for the second consecutive year, HSBC Life Singapore continues to solidify its position as a leading wealth manager in the region. The new plan underscores HSBC’s commitment to addressing the complex wealth needs of its clients.

Space Summit 2026, organised by Experia Events, will bring together international industry leaders and space chiefs in Singapore on 23 February. The event aims to define the next era of orbital commerce as the commercialisation of space technology accelerates. Keynotes will be delivered by leaders from Airbus Defence and Space, and ST Engineering.

The summit arrives at a pivotal moment as the rapid growth of satellite constellations, driven by reduced launch costs and advanced technologies, pushes the sector towards a market-driven phase. Discussions will focus on business models, investment frameworks, and partnership structures necessary to scale activities across the space value chain. Key topics include managing cost pressures, infrastructure readiness, and sustainability.

Panels will delve into structural shifts reshaping the market. Innovations in the launcher business will be discussed by leaders from Agnikul, Equatorial Space, and others, focusing on new, affordable launch systems. The next frontier in the in-space economy will be explored with insights from Infinite Orbits and NASA, examining segments like in-orbit servicing and microgravity manufacturing. The Asia Pacific’s rising market opportunities will also be highlighted, featuring companies such as Addvalue and GomSpace.

The summit will feature a comprehensive programme exploring commercial, regulatory, and industry developments. Dr Tan See Leng, Singapore’s Minister for Manpower, will attend as Guest of Honour. Michael Schoellhorn, CEO of Airbus Defence and Space, emphasised the importance of collaboration and talent development in unlocking the space sector’s potential.

Space Summit 2026 will serve as a neutral platform for international dialogue, with participation from agencies like NASA and the European Space Agency. Limited sponsorship and participation opportunities remain, with the event set to take place at the Sands Expo and Convention Centre, Marina Bay Sands, Singapore.

PROPEL with Singlife has announced the appointment of Yirong Wee as its new CEO, effective 7 January 2026. With over 18 years of experience in financial services, Wee is set to lead the shared services hub into its next phase of growth, focusing on empowering financial advisers to establish their own firms.

Wee’s extensive background includes her role as Chief Operating Officer of Group Distribution at Singlife, where she was instrumental in reshaping the distribution structure and enhancing adviser engagement. Her previous experience also includes leadership roles at GROW with Singlife and DBS Bank. Wee expressed her vision for PROPEL, stating, “By championing open architecture and providing seamless, scalable solutions, we are removing the barriers that often hold aspiring advisers back.”

The outgoing CEO, Steven Ong, will transition to a new business initiative within Singlife. Reflecting on his tenure, Ong highlighted PROPEL’s achievements, including onboarding over 1,300 financial adviser representatives and receiving multiple industry awards. He expressed confidence in Wee’s ability to elevate PROPEL further.

Since its launch in January 2025, PROPEL has been recognised for its contributions to the insurance industry, winning the Insurtech Initiative of the Year – Singapore and two awards at the IIC Asia Awards 2025. The hub continues to offer modular and scalable solutions to support financial advisory firms.

As PROPEL moves forward under Wee’s leadership, it aims to become the go-to hub for financial advisory firms, fostering a thriving ecosystem for advisers.

Singapore’s Defence Science and Technology Agency (DSTA) and the Korean Register (KR) have signed a Memorandum of Understanding (MOU) to co-develop a framework aimed at enhancing verification and validation (V&V) for technologies used in Unmanned Surface Vessels (USVs). This partnership combines DSTA’s systems engineering expertise with KR’s leadership in maritime policy and safety standards.

The collaboration seeks to create a unified V&V framework to assess AI-based perception algorithms and other core technologies crucial for the safe operation of USVs. This initiative is expected to promote international standardisation of safety verification frameworks for autonomous maritime systems.

DSTA’s Director Naval Systems, Ong Li Koon, highlighted the significance of the partnership, stating, “As the maritime sector moves towards broader adoption of autonomous technologies across defence and commercial domains, our partnership with Korean Register to co-develop a unified validation and verification framework will help raise the bar for the safety of autonomous navigation globally.”

KR’s Executive Vice President, Kim Daeheon, added, “This collaboration will support the development of robust test methodologies and safety guidelines for AI-based USV systems. Our goal is to enhance the safety and reliability of maritime technology, thereby building public and regulatory confidence in the deployment of autonomous vessels.”

The outcomes of this joint research are anticipated to influence international standards and regulatory discussions, contributing to a trusted global framework for autonomous ship technologies. KR aims to leverage this project to strengthen its role in maritime AI certification and expand its global partnerships.

YY Group Holding Limited, a leader in on-demand workforce solutions and integrated facilities management, has secured a S$10.5m banking facility from United Overseas Bank (UOB). This facility, issued in collaboration with Enterprise Singapore, aims to bolster the company’s strategic growth initiatives and financing needs across its manpower outsourcing and facilities management businesses.

The facility will provide financing for Hong Ye Group Pte Ltd, YY Group’s facilities management subsidiary, and YY Circle (SG) Pte Ltd, its manpower outsourcing arm. Available on a drawdown basis, it offers a flexible financing option to meet YY Group’s working capital needs. The company anticipates an 8% reduction in annual finance costs, enhancing financial efficiency and supporting ongoing operational expansion.

Chief Executive Officer Mike Fu expressed gratitude towards UOB, Enterprise Singapore, and the Singaporean government, stating, “This partnership reflects their confidence in our business and marks a significant step forward in our growth journey.” He added that the facility would enable the company to accelerate key growth initiatives and optimise cash flow management.

YY Group has been expanding its global footprint, extending its on-demand staffing platform, YY Circle, to markets in Australia, Europe, and Southeast Asia. The company has also completed key acquisitions to enhance its facilities management capabilities and secured new enterprise-level contracts and hospitality partnerships, further solidifying its position as a trusted workforce provider.

Southeast Asia’s tech sector saw a stabilisation in funding at $5.2b in 2025, according to the Tracxn Geo Funding Trends Report. This marks a 7% increase from 2024 but remains 31% below 2023 levels. The report highlights a shift towards capital discipline, with late-stage investments dominating as investors prioritise scale and downside protection over early-stage risks.

Funding flows were heavily concentrated in late-stage rounds, which accounted for $3.9b, a significant rise from $1.3b in 2024. In contrast, seed-stage funding plummeted by 57% to $214m, and early-stage funding fell by 64% to $1.1b. This trend underscores a preference for mature companies with robust operating scales.

Enterprise Infrastructure, FinTech, and Enterprise Applications emerged as the top-performing sectors. Enterprise Infrastructure alone attracted $2.3b, a 70% increase from 2024. Meanwhile, FinTech and Enterprise Applications saw declines in funding compared to the previous year.

Singapore maintained its dominance, capturing 91% of the region’s total funding, highlighting its role as a hub for tech investments. The city-state’s governance stability and cross-border operability were key factors in attracting capital.

Despite a slowdown in unicorn creation, with only two new unicorns in 2025, the region saw an increase in IPOs, with 15 companies going public. Acquisition activity moderated, with 57 acquisitions recorded, led by NinjaOne’s $270m acquisition of Dropsuite.

The report indicates a strategic shift in investor behaviour, focusing on long-duration, enterprise-anchored assets, reflecting a post-2023 risk reset. As the SEA tech ecosystem evolves, the emphasis on scale and stability is expected to shape future funding dynamics.

Singapore’s Central Business District (CBD) office market concluded 2025 on a strong note, with Core CBD Premium and Grade A rents increasing by 0.8% quarter-on-quarter to S$11.82 per square foot, according to Colliers Singapore’s Q4 2025 Office Insights and Outlook report. The vacancy rate tightened to 4%, reflecting a robust demand amidst a limited supply pipeline, with no new Grade A completions expected until 2027.

The report highlights that average capital values rose to S$3,100 per square foot, whilst net yields declined to 3.6%. This trend is supported by a significant transaction involving a 33% stake in MBFC Tower 3, which was sold at S$3,268 per square foot. Bastiaan van Beijsterveldt, Managing Director of Colliers Singapore, noted, “Momentum in Singapore’s office market is set to persist, underpinned by tight CBD supply, resilient enquiry, solid economic fundamentals, and a more conducive interest-rate backdrop.”

The limited availability of high-quality office space is expected to favour landlords, with rental growth projected at 2–4% in 2026. Redevelopment activities under the CBD Incentive and Strategic Incentive schemes are anticipated to continue, creating displacement demand as older assets are modernised.

Catherine He, Head of Research at Colliers Singapore, stated, “Singapore’s pro-business policies and neutral geopolitical stance continue to underpin baseline demand, even as global uncertainties temper expansion plans.” The ongoing interest in core CBD assets is further evidenced by Hongkong Land’s announcement of a private real estate fund seeded with prime Singapore offices.

As the market remains tight, occupiers are advised to plan early to secure space, whilst landlords are encouraged to offer flexible leasing options to accommodate tenant growth.

CBRE has been appointed as the leasing agent for a cutting-edge ramp-up freezer and chiller warehouse at 8 Jalan Besut, Singapore. This facility, designed to meet the increasing demand for advanced cold chain infrastructure, is the only one in the market offering ramp-up access and dedicated loading bays, crucial for handling large volumes of temperature-sensitive goods. The warehouse, located strategically in western Singapore, is within minutes of major seaports and MRT stations, enhancing its logistical appeal.

The facility, which has been operational as a freezer space for the past year, is set to complete fully by H1 2026. It will feature a high-bay automatic storage and retrieval system on the upper levels, capable of storing up to 80 million kilogrammes of food. The available space on Level 3 spans approximately 8,201 square metres, with a ceiling height of ten metres and a storage height of 8.850 metres, accommodating between 7,000 to 10,000 pallet positions.

Equipped with sixteen loading bays for trailers and a robust power provision, the warehouse supports efficient cold chain operations. It includes temperature-controlled environments, with chiller spaces maintained between four and seven degrees Celsius and freezer areas operating as low as minus twenty-five to minus twenty-seven degrees Celsius.

Graeme Bolin, Head of Occupier and Leasing, Industrial and Logistics Services at CBRE, stated, “8 Jalan Besut delivers next-generation cold chain infrastructure with automation and strategic connectivity to Singapore’s major seaports. With ready-to-use cold-room spaces, it offers food logistics operators a future-ready solution for scale and efficiency.” This facility presents a unique opportunity for occupiers seeking high-specification freezer space with immediate operational readiness.