Industry News

Zoom has unveiled a new office space in Singapore, designed to support hybrid work and showcase its platform, alongside releasing research on ‘AI natives’ in the Asia Pacific (APAC) region. Conducted by Kantar, the study identifies AI natives as individuals aged 18 to 24 who have grown up with AI and are now active users. This demographic is set to dominate the workforce and consumer market, presenting new challenges and opportunities for businesses.

The research reveals that 92% of AI natives in Singapore prefer the option to escalate customer service interactions to a human agent, despite their strong inclination towards AI chatbots. This highlights their desire for a balanced customer experience (CX) that integrates both AI and human elements. Additionally, 76% of AI natives believe businesses should offer AI options for quicker resolutions.

AI natives also express distinct concerns about AI in the workplace. Whilst 57% worry about the accuracy of AI-generated content, non-AI natives are more concerned with data privacy and security. This indicates a nuanced engagement with AI, as AI natives demand precision and reliability, whereas non-AI natives require reassurance about data handling.

Steve Rafferty, Head of EMEA and APAC at Zoom, emphasised the importance of evolving technology to meet these expectations: “Loyalty in the era of AI will depend on how well and fast organisations can evolve their technology stack to strike the right balance between AI and human connection.”

As AI natives become a significant part of the workforce, businesses must adapt to their expectations, ensuring a seamless integration of AI and human interaction to foster loyalty and trust.
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Singapore-based DigiFT, a licensed exchange specialising in tokenised real-world assets (RWAs), has announced the successful closure of a strategic funding round, raising a total of $25m. The latest investment was led by SBI Holdings, Japan’s largest financial group, with participation from notable institutional investors such as Mirana Ventures, Offchain Labs, and Polygon Labs. This funding will support DigiFT’s ambition to expand its infrastructure, which bridges traditional asset management with on-chain finance through compliant tokenised investment products.

The capital injection will enable DigiFT to diversify its product offerings, focusing on tokenised investment strategies across equities, fixed income, and digital assets. Additionally, the company plans to develop new on-chain use cases for tokenised RWAs, enhancing their utility within the digital finance ecosystem. DigiFT’s infrastructure aims to drive greater interoperability and capital efficiency, ensuring compliance with financial standards for both institutional and Web3 participants.

Yoshitaka Kitao, CEO of SBI Holdings, highlighted DigiFT’s focus on enabling real on-chain utility for institutional-grade assets, stating, “What sets them apart is their focus on enabling real on-chain utility for institutional-grade assets, going beyond tokenisation to unlock collateral use cases, embedded yield, and secondary market liquidity.”

DigiFT’s platform already collaborates with leading asset managers such as Invesco and UBS Asset Management, providing access to institutional-grade investment strategies. The company has recently been granted Type 1 and Type 4 licences by the Hong Kong Securities and Futures Commission, making it the first regulated platform for institutional-grade tokenised RWAs licensed by both the SFC and the Monetary Authority of Singapore. This strategic funding round underscores the growing institutional momentum behind tokenised finance and DigiFT’s pivotal role in advancing this sector.
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AIA Group Limited has announced impressive financial results for the first half of 2025, ending 30 June, showcasing resilience amid challenging market conditions. AIA Singapore reported a 16% increase in Value of New Business (VONB), attributed to strong performances across all distribution channels. The Annualised New Premium (ANP) rose by 28% to $547m, although the VONB margin decreased by 4.9 percentage points to 47.4%, primarily due to robust sales of unit-linked long-term savings products in Q1 2025.

The Total Weighted Premium Income (TWPI) saw a 17% growth, reflecting the company’s strong business expansion. Operating Profit After Tax (OPAT) increased by 4%, despite lower investment income on surplus assets due to increased remittances for share buy-backs.

Wong Sze Keed, CEO of AIA Singapore, highlighted the company’s leadership in the affluent and high-net-worth segments, bolstered by the launch of AIA Platinum Wealth Venture 2.0 in April 2025. This investment-linked plan aims at wealth accumulation with extended entry age, higher bonuses, and expanded fund options.

AIA’s Group Chief Executive, Lee Yuan Siong, noted the company’s strategic priorities in leveraging opportunities in Asia’s life and health insurance market. The Premier Agency, a core distribution platform, achieved a 17% VONB growth, supported by increased agent productivity and technology investments.

The results underline AIA’s commitment to sustainable growth, with a 10% increase in interim dividends and a strong focus on expanding its healthcare ecosystem in Singapore. The company’s strategic partnership with Raffles Hospital aims to enhance healthcare accessibility and patient outcomes.
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RH Petrogas, an upstream oil and gas company with assets in Indonesia, has been reaffirmed with a “buy” rating by UOB Kay Hian Research, despite a 19% year-on-year revenue decline in the first half of 2025. The company’s revenue fell to $39.3m due to lower oil prices and reduced crude liftings, yet it exceeded earnings expectations thanks to stringent cost control measures. The company reported a significant turnaround in free cash flow, reaching $15m, supported by a net cash balance that constitutes 54% of its market capitalisation.

The company plans to drill two exploration wells in September and October, targeting potential unrisked recoverable reserves of 8-10 million barrels of oil equivalent (mmboe). The drilling, with a gross cost of $6.5m to $13m, could serve as a catalyst for the company’s share price if successful.

RH Petrogas remains in a strong financial position, with no debt and $62.7m in cash. The company is exploring growth opportunities, particularly in Indonesia, focusing on exploration and development assets. UOB Kay Hian has slightly lowered its target price for RH Petrogas to S$0.245, reflecting adjustments in oil price estimates. The company’s shares are trading at attractive multiples, with a 2025 forecast ex-cash price-to-earnings ratio of 7.3x and an enterprise value-to-EBITDA ratio of 3.8x. The upcoming drilling results could further enhance the company’s valuation and financial performance.
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Suntec REIT has reported a 3.7% year-on-year increase in its distribution per unit (DPU) for the first half of 2025, reaching 3.155 Singapore cents. This performance, however, fell slightly below expectations due to higher withholding tax in Australia, which impacted the bottom line by S$4m. The REIT’s Australia portfolio saw a notable 20.8% increase in net property income in the second quarter, attributed to a one-off A$10m compensation from a tenant in Sydney.

The Singapore segments of office, retail, and convention showed robust results, with Suntec City Office achieving a high occupancy rate of 99.5% and Suntec City Mall experiencing a positive rental reversion of 17.2% in the first half of 2025. The mall’s occupancy improved to 98.0% in the second quarter, supported by tourism and MICE activities. The upcoming completion of a link bridge to Guoco Midtown is expected to further boost weekday office crowd traffic.

In the UK, Suntec’s portfolio remained stable with a 100% occupancy for Nova properties, although The Minster Building’s occupancy dropped to 84.9%. Advanced negotiations with a financial institution could raise this to 94%. Meanwhile, Suntec’s cost of debt improved to 3.82% in Q2 2025, with interest coverage rising to 2.0x.

Looking ahead, Suntec REIT aims to divest S$100m of strata units at Suntec City Office in 2025 to lower gearing. The REIT maintains a “hold” recommendation with a target price of S$1.31, trading at a 39% discount to its net asset value per unit.
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Beng Kuang Marine Limited has announced the formation of a new business, Clean Concept Works Pte Ltd, to provide specialised industrial chemical cleaning services in the oil and gas sector. This strategic move aims to enhance equipment integrity and efficiency, preventing costly downtime and environmental damage. The initiative is part of a broader restructuring to unify the company’s onshore and offshore engineering services.

The new venture, Clean Concept Works, will focus on chemical cleaning and hot oil flushing services, crucial for maintaining the performance and reliability of FPSO vessels. This development is synergistic with Beng Kuang’s Infrastructure Engineering division, which already offers asset integrity solutions. The company has partnered with industry veteran Chew See Choon, who brings over 20 years of expertise in chemical cleaning and waste treatment.

In addition to launching Clean Concept Works, Beng Kuang has rebranded one of its subsidiaries as Asian Sealand Energy Services Pte Ltd. This subsidiary will serve as the core platform for delivering turnkey onshore Engineering, Procurement, and Construction solutions, with a focus on module fabrication for FPSO vessels and marine engineering projects.

Yong Jiunn Run, CEO of Beng Kuang Group, stated, “Our new business of specialised industrial chemical cleaning solutions underscores the Group’s commitment to identifying growth-oriented opportunities in the global oil & gas industry.” He added that the initiatives aim to streamline service offerings and enhance operational efficiency, ultimately creating long-term value for stakeholders.

These strategic changes are expected to strengthen Beng Kuang’s market positioning and broaden its service portfolio, allowing the company to target more opportunities in both onshore and offshore markets.
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Trendlines Group Ltd., a company focused on innovation-based medical and agrifood technologies, has announced that its recent rights issue to raise approximately S$3.9m has been oversubscribed by 25%. Investors applied for an excess of 34 million rights shares, surpassing the 137 million shares available, indicating strong confidence in the company’s long-term strategy and growth potential.

The funds raised will be utilised to bolster Trendlines’ financial position by financing direct and indirect investments into its existing portfolio companies. This includes supporting exit strategies where appropriate and meeting general working capital needs. The oversubscription highlights the robust support from major shareholders, reflecting their continued confidence in the company’s vision and future growth.

Haim Brosh, Trendlines’ CEO, expressed satisfaction with the outcome, stating, “The strong oversubscription of our rights issue is a clear signal of investor confidence in Trendlines’ vision and strategy. With this additional capital, we can provide crucial support to our portfolio companies, help drive successful exits, and unlock long-term value for our shareholders.”

Trendlines, which is listed on the Singapore Stock Exchange and trades as an American Depositary Receipt in the US, is known for its hands-on approach in establishing, funding, and incubating its portfolio companies. The successful rights issue underscores the company’s strategic direction and the trust it has garnered from its investors.
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JAM OFF 2025 is set to transform Sentosa into a vibrant music and cultural hub on 27 and 28 September 2025, as part of the Grand Prix Season Singapore (GPSS). Organised by Destinations Network Tourism and Leisure Marketing Ltd, and supported by the Singapore Tourism Board, the festival promises two days of world-class performances and exclusive entertainment experiences.

The festival will take centre stage at Universal Studios Singapore, where South Korean superstar Rain and popular Hong Kong artists such as Ekin Cheng and Hins Cheung will perform. Festivalgoers can also enjoy select experiences from Halloween Horror Nights 13, adding an adrenaline rush to the musical festivities. Public ticket sales begin on 22 August 2025 at noon via KLOOK and Ticketmaster.

In addition to concerts, JAM OFF 2025 will host its signature competitions, JAM OFF VOICE and JAM OFF BEATS, at Palawan Green, Sentosa. These events will showcase regional talent through vocal and dance battles, with contestants vying for cash prizes and opportunities to perform internationally. Registrations for JAM OFF VOICE run until 12 September, whilst JAM OFF BEATS registrations close on 26 September.

Evette Chan, Event Director, stated, “With this year’s line-up, we’re bringing together some of Asia’s most dynamic talents for an unforgettable weekend of music, culture, and entertainment.”

Beyond the headline acts, Palawan Green will be transformed into a festival village, offering interactive games, race-themed ice lollies, and live performances, creating an atmosphere of music, culture, and camaraderie. For more details, visit JAM OFF’s official Instagram page.
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Ransomware continues to be the primary threat to large and medium-sized businesses, with cybercriminals increasingly using artificial intelligence (AI) to automate attacks, according to the Acronis Cyberthreats Report H1 2025. The report, released by Singapore-founded Acronis, a leader in cybersecurity and data protection, highlights a 70% rise in ransomware victims compared to previous years, with AI playing a significant role in the surge.

The report, based on data from over 1,000,000 unique endpoints worldwide, reveals that phishing accounted for 25% of all attacks and 52% of those targeting managed service providers (MSPs), marking a 22% increase from H1 2024. Gerald Beuchelt, Chief Information Security Officer at Acronis, noted, “Even the least sophisticated attackers today have access to advanced AI capabilities, generating social engineering attacks and automating their activities with minimal effort.”

Key findings indicate that ransomware groups such as Cl0p, Akira, and Qlin are the most active, with AI significantly boosting social engineering and business email compromise (BEC) attacks. Social engineering and BEC attacks rose from 20% to 25.6% in early 2025 compared to the same period in 2024, driven by AI’s ability to craft convincing impersonations.

Manufacturers were the most targeted industry, accounting for 15% of ransomware cases in Q1 2025, followed by retail, food and drink (12%), and telecommunications and media (10%). The report underscores the need for a comprehensive cyber protection strategy to combat these evolving threats.
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AIA Singapore and Mount Alvernia Hospital have signed a Memorandum of Understanding (MoU) to collaborate on initiatives that advance sustainable healthcare solutions and provide high-quality, affordable care to Singapore residents. The agreement, signed on 20 August 2025 by AIA Singapore CEO Wong Sze Keed and Mount Alvernia Hospital CEO James Lam, focuses on three key areas: innovative healthcare solutions, sustainable and cost-effective initiatives, and driving positive industry impact through shared expertise.

The partnership is designed to enhance patient experiences and outcomes by leveraging the combined expertise of AIA Singapore, a leading health insurer, and Mount Alvernia Hospital, a trusted healthcare provider.

Lam said, “This partnership between Mount Alvernia Hospital and AIA Singapore is rooted in a shared goal to provide patients with our comprehensive multidisciplinary healthcare that is accessible, affordable and efficient.”

This collaboration builds on AIA Singapore’s ongoing efforts to support the health and well-being of its policyholders. In 2024, AIA Singapore introduced on-demand teleconsultations, mental wellbeing services, paediatric care, and home health screenings. Additionally, enhancements to corporate insurance policies were made, including expanded inpatient coverage for mental health care, benefiting over 1.3 million employees in Singapore.

The partnership aims to champion innovation and accessibility in healthcare, ensuring every Singaporean has the opportunity to live healthier, longer, better lives.
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