Industry News

Knight Frank Singapore has announced the launch of 153 Kampong Ampat for collective sale by public tender. This seven-storey industrial building, located in the Tai Seng–MacPherson precinct, sits on approximately 43,354 sq ft of freehold land. Zoned as “Business 1” with a plot ratio of 2.5 under the Master Plan 2025, the property boasts a gross floor area of about 114,969 sq ft, translating to a plot ratio of 2.65.

Situated on Singapore’s city fringe, the property benefits from prominent visibility and extensive road frontage. Its freehold tenure and strategic location make it an attractive prospect for investment, owner occupation, or redevelopment. Additionally, the site holds potential for conversion into worker accommodation, subject to regulatory approval.

The industrial property market in Singapore remains strong, as evidenced by the swift sale of Generations at Tannery, where units fetched between S$1,500 and S$2,000 per square foot. Melvin Chay, Senior Director of Capital Markets at Knight Frank Singapore, noted the sustained demand for well-located freehold assets, stating, “With its scale, visibility and flexibility for owner occupation, redevelopment or potential workers’ dormitory use, 153 Kampong Ampat should attract interest from a diverse pool of purchasers.”

The property is offered at a guide price of S$105m, equating to a land rate of approximately S$913 per square foot per plot ratio. The public tender is set to close on 23 October 2026 at 10.00 am.

The SingHealth Duke-NUS Academic Medical Centre has unveiled SPADE (Spatial Profiling and Disease Exploration), a pioneering research platform designed to advance precision diagnostics and treatment. The initiative, launched on 25 September, is a collaborative effort led by the National Cancer Centre Singapore, with support from Singapore General Hospital and Duke-NUS Medical School. It is backed by a S$6m grant from the SingHealth Joint Office of Academic Medicine.

SPADE integrates clinical, biomedical, and computational expertise to explore disease development and patient treatment responses. This platform aims to translate research insights into precise diagnostics and therapies. The launch also marked the signing of a Research Collaboration Agreement with biotechnology firm 10x Genomics, enhancing SPADE’s spatial biology capabilities.

Spatial profiling technologies, which allow for the detailed study of cells, genes, and proteins within their environment, are central to SPADE’s mission. These technologies provide comprehensive insights into disease progression and treatment responses. SPADE’s collaborative environment combines the strengths of clinical and pathology expertise from SingHealth with Duke-NUS’ capabilities in biomedical discovery, computational biology, and artificial intelligence.

Assistant Professor Jason Chan, Principal Investigator of SPADE, highlighted the significance of the collaboration with 10x Genomics, stating that it provides access to cutting-edge technology essential for understanding disease complexities. Professor Enrico Petretto, co-principal investigator, emphasised the role of computational biology and data science in interpreting the vast data generated by spatial profiling.

SPADE envisions a future where diagnostics and treatments are more personalised, potentially reducing the need for repeated biopsies and enabling the identification of multiple drug targets. The platform also aims to develop a spatial tissue atlas to train AI models for predictive disease simulations. This initiative represents a significant step towards personalised medicine, benefiting patients in Singapore and beyond.

Singaporeans are increasingly documenting and communicating their legacy plans, with the proportion of fully documented plans rising from 12% in 2025 to 32% in 2026, according to Sun Life Asia’s latest report. However, concerns remain about whether heirs are ready to manage the wealth they inherit. Among those worried their wealth will not last beyond the next generation, 55% cite beneficiaries’ financial preparedness as a primary concern, surpassing worries about market volatility at 43%.

The report, “Passing the Torch: When legacy means more than money,” highlights that whilst 82% of high-net-worth individuals in Singapore are confident in their financial literacy, only 29% have fully documented and communicated their plans. This gap between confidence and action underscores the need for better preparation of heirs to handle financial responsibilities.

Sujoy Ghosh, CEO of Sun Life Private Wealth, emphasised the importance of preparing the next generation, stating, “Families have traditionally focused on how wealth will be transferred. These findings show they also need to consider what happens after.”

The survey also reveals that legacy priorities extend beyond financial assets, with 46% of respondents valuing family traditions and 32% prioritising educational opportunities for the next generation. Millennials, in particular, express significant concern about preserving wealth, with 81% fearing it may not survive beyond the next generation.

As more families formalise their legacy plans, involving heirs in discussions about wealth management is crucial. Nearly 72% of respondents report that older generations have communicated some aspects of their plans, though only 34% have done so fully. This suggests a need for more comprehensive family conversations and professional advice to ensure a smooth transition of wealth.

Singapore has unveiled SG Semiconductor, a new national brand designed to consolidate and enhance the country’s semiconductor industry. Announced by Minister for Trade and Industry Dr Tan See Leng at the Innovate Together 2026 forum, this initiative aims to unify Singapore’s semiconductor research, capabilities, and opportunities under a single identity.

SG Semiconductor, developed by the Agency for Science, Technology and Research (A*STAR) and the Singapore Economic Development Board (EDB), seeks to increase global awareness of Singapore’s strengths in the semiconductor sector. It will initially focus on public sector research and development (R&D) to facilitate easier engagement with the ecosystem by companies and talent.

Singapore’s semiconductor industry, which contributes to one-tenth of global chip output, is set to benefit from an S$800m investment from 2026 to 2030. This funding will support the RIE Flagship in Semiconductors, aiming to foster closer research-industry collaboration and talent development.

The launch coincides with several new and expanded industry partnerships. Notably, A*STAR has teamed up with companies like Applied Materials and GlobalFoundries to advance technologies in areas such as advanced packaging and silicon photonics. These collaborations are expected to bridge the gap between laboratory innovation and commercial-scale production, addressing the growing demand for high-speed, energy-efficient connectivity solutions.

“SG Semiconductor provides a gateway to Singapore’s ecosystem, enabling companies to develop, scale, and commercialise next-generation technologies from Singapore,” said Jermaine Loy, Managing Director of EDB. The initiative underscores Singapore’s commitment to maintaining its position as a trusted location for semiconductor innovation and manufacturing.

Luckin Coffee Singapore has celebrated a significant achievement by opening its 100th store, just three years after its initial launch in 2023. The brand, which began with two outlets, has rapidly expanded across the nation, with its latest store located at Bugis Junction. This growth reflects Luckin Coffee’s commitment to delivering quality, accessible coffee and innovative products whilst fostering community connections.

The 100th store is not just a number but a testament to Luckin Coffee’s integration into Singapore’s diverse retail and lifestyle landscape. The Bugis Junction outlet features a Singapore Art Wall with Peranakan-inspired designs and an Interactive Brand Heritage Projector, showcasing the brand’s journey across the island. The store also meets the Leadership in Energy and Environmental Design (LEED) gold standard, highlighting its dedication to sustainability.

David Li, Chairman of Luckin Coffee, expressed pride in the brand’s success in Singapore, stating, “Thanks to the continued trust and support from our customers, government stakeholders, industry partners and investors, we have built our local footprint and developed a thriving, sustainable business in Singapore.”

Luckin Coffee’s expansion has also bolstered local employment, with over 860 employees, including a 40-strong corporate team. The brand continues to innovate with products like the Pandan Coconut Latte and Tiramisu Latte made with MILO®, catering to local tastes.

As Luckin Coffee Singapore looks to the future, it plans to introduce new products and experiences, including the Golden Velvet Latte and Cheesy Mochi Puff, to celebrate its milestone. The brand remains committed to quality, innovation, and accessibility, aiming to become a staple in everyday coffee moments across Singapore.

The Singapore Tourism Board (STB) and Messe Berlin have signed a Memorandum of Understanding (MOU) to bolster Messe Berlin’s presence in Singapore and the Asia Pacific region. This agreement, signed during InnoTrans Berlin 2026, aims to strengthen Singapore’s position as a leading global MICE (Meetings, Incentives, Conferences, and Exhibitions) destination and supports Singapore’s Tourism 2040 target of tripling MICE tourism receipts.

The partnership, which began in 2008 with the launch of ITB Asia in Singapore, has expanded across multiple industries, enhancing international business events in the city-state. Under the new MOU, STB and Messe Berlin will focus on four strategic areas: business development, digitalisation and sustainability, talent and manpower development, and experience development.

Messe Berlin currently organises several key events in Singapore, including ITB Asia, MICE Show Asia, Travel Tech Asia, and Smart Health Asia. ITB Asia 2025 saw a record-breaking performance with over 60,000 business appointments and 18,000 attendees. The portfolio is set to expand further in 2027 with the introduction of InnoTrans Asia, CMS Asia, and Smart Pharma Asia.

Melissa Ow, Chief Executive of STB, remarked, “Messe Berlin has been a valued partner and a testament to what is possible when two organisations share a common vision for excellence.” Dr Mario Tobias, CEO of Messe Berlin, added, “This strategic partnership with the Singapore Tourism Board reflects our long-term confidence in Singapore as a key regional hub.”

The MOU signifies a long-term commitment to enhance Singapore’s status as a global MICE hub, leveraging Messe Berlin’s international portfolio and Singapore’s strengths as a business and innovation centre.

MetaOptics Ltd, a leading semiconductor optics company, has announced the establishment of its sponsored Level 1 American Depositary Receipt (ADR) programme on the OTCQX market in the US. JP Morgan has been appointed as the depositary bank for this initiative. The ADR programme will not involve any capital raising or issuance of new shares, and the company’s ordinary shares will continue trading on the Catalist board of the Singapore Exchange (SGX).

Trading on OTCQX, the highest tier of the Over The Counter (OTC) Markets, requires companies to meet stringent financial standards and adhere to best-practice corporate governance. This move places MetaOptics among a growing number of Singapore-listed companies accessible to US investors, including Singapore Exchange Ltd.

The ADR programme is part of MetaOptics’ strategy to broaden its international investor base and provide US-based investors with easier access to its securities. This follows the company’s successful listing on SGX’s Catalist in September 2025 and its participation in major industry events like CES 2025 and CES 2026. The programme is expected to support MetaOptics’ expansion plans in the US, including the establishment of a semiconductor fabrication line for mass production.

Executive Chairman Thng Chong Kim stated, “The ADR Programme on OTCQX provides us an additional platform to introduce and increase awareness of our technology and solutions.” This initiative is seen as a step towards enhancing liquidity and international visibility for the company as it progresses in its commercialisation and expansion efforts in the US.

Singapore-founded healthtech company AIGP Health has expanded its Southeast Asian presence by launching its Anzu clinical AI platform in Thailand. This move, in partnership with Borderless Healthcare Group (BHG), marks AIGP Health’s entry into its third market, following successful operations in Singapore and Australia. The Anzu platform is designed to assist clinicians by providing patient information and clinical context throughout consultations, whilst maintaining clinical judgement with healthcare professionals.

The launch in Thailand is part of AIGP Health’s broader regional growth strategy, which includes potential expansions into Malaysia and Indonesia. The company aims to integrate its AI technology into various healthcare settings, such as hospitals, clinics, and wellness centres, to support clinicians in making informed decisions within limited consultation times.

Sheetal Nanwani Doshi, Co-Founder and Chief Growth Officer of AIGP Health, highlighted the platform’s unique selling proposition: “Anzu addresses a complete new category called Clinical Risk… Our USP is our deep clinical workflows built to be able to address these factors therapy wise.”

The Anzu platform, which includes tools like Anzu Dr Assist and Anzu Preclerk, is designed to work alongside existing healthcare technology infrastructures. It has already supported over 3,000 patients across Singapore and Australia. In Thailand, the platform is being deployed at the Global Institute of Aesthetics in Bangkok, serving as a flagship site for its integration into real-world care environments.

As AIGP Health continues its expansion, the company aims to demonstrate how clinical AI can be adapted to diverse healthcare environments, ensuring that doctors and patients remain at the centre of care.

Grab Holdings Limited has announced its proposed acquisition of a 60% majority stake in Atome Financial, a digital financial services platform owned by Advance Intelligence Group Limited. The transaction, valued at $1.49b, includes $260m of primary growth capital. This strategic move is expected to bolster Grab’s financial services ecosystem by integrating Atome Financial’s consumer financing and digital lending capabilities, which include Buy Now, Pay Later (BNPL) loans, consumer cash loans, and digital lending services.

The acquisition will enable Grab to expand responsible financing options across Southeast Asia, particularly benefiting consumers without formal credit histories. The deal is structured in two phases, with Grab planning to acquire the remaining 40% of Atome Financial approximately two years after the initial acquisition, pending regulatory approvals.

Linklaters, a global law firm, is advising Grab on this complex transaction. The multidisciplinary team is led by corporate partner Niranjan Arasaratnam, who highlighted the transaction’s scale and regulatory complexity. “This significant transaction brings together two complementary financial services platforms operating across Southeast Asia,” Arasaratnam stated. “We are pleased to have supported Grab on a transaction that will strengthen its consumer lending capabilities.”

The acquisition underscores Grab’s commitment to enhancing its digital financial services and expanding its reach in the region. With a strong presence in deliveries, mobility, and financial services, Grab continues to solidify its position as a leading superapp in Southeast Asia. The completion of this transaction is anticipated to further integrate financial services within Grab’s platform, offering enhanced consumer lending solutions.

Condo resale activity in Singapore experienced a minor decline in August 2026, with both resale volume and prices seeing a slight decrease. According to the latest report by 99.co and SRX, the volume of condo resales fell by 0.4% from July, equating to four fewer transactions. This decline is attributed partly to the Hungry Ghost Month, a period traditionally associated with reduced property transactions.

Despite the slight month-on-month decrease, resale prices remained 2.2% higher than in August 2025. However, the market’s overall momentum was subdued, with activity 7.2% lower than the previous year and 9.4% below the five-year August average. Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that the absence of new project launches may have cushioned the seasonal slowdown, yet it was insufficient to boost resale activity significantly.

The report highlighted regional variations, with the Core Central Region (CCR) experiencing a 4.3% price drop, whilst the Rest of Central Region (RCR) and Outside Central Region (OCR) saw price increases of 0.5% and 0.8%, respectively. The highest resale transaction was recorded at Four Seasons Park for S$7,883,000.

Looking forward, the end of the Hungry Ghost Month may see some deferred purchases returning to the market. However, the anticipated resumption of new project launches could shift buyer interest towards the primary market, potentially impacting resale activity.