Industry News

A recent survey conducted by Reeracoen and Rakuten Insight has revealed that 76% of employers in Singapore are now prioritising evidence of skills over traditional qualifications during the hiring process. This shift reflects a growing trend amongst companies to focus on practical abilities rather than solely relying on academic credentials.

The survey, which gathered responses from a diverse range of industries, highlights a significant change in recruitment strategies. Employers are increasingly seeking candidates who can demonstrate their skills through practical evidence, such as portfolios or project work, rather than just listing qualifications on their CVs. This approach aims to ensure that new hires can effectively contribute to the company from the outset.

According to the survey, 60% of respondents indicated that they have already implemented skills assessments as part of their recruitment process. This trend is particularly prevalent in sectors such as technology and creative industries, where practical skills are often more indicative of a candidate’s potential success.

As the demand for skills evidence continues to rise, companies may increasingly adopt this approach, potentially reshaping the landscape of recruitment and employment practices in the future.

Chintai, a Singapore-regulated blockchain infrastructure provider, has partnered with the Maluku Archipelago Joint Venture (MAJV) to launch one of the world’s largest regulated nature-based asset tokenisation projects. The initiative, valued at an estimated $28b, aims to sustainably develop the Maluku and North Maluku provinces of Indonesia over a 60-year period. This project will integrate ecological preservation, technological innovation, and community-driven economics.

The Maluku project spans 1,400 islands and approximately 710,000 square kilometres, focusing on sectors such as forestry, mining, fisheries, and marine ecosystems. The tokenisation effort will be linked to the total value of the resource and development rights vested with MAJV. The Nature-Based Asset token, designated under the ticker MLKU, will be structured as a treasury-backed digital asset with a total supply of 1 billion tokens.

Initially, the token issue is escrowed but is expected to be offered through a private placement to institutional investors, with broader offerings subject to regulatory requirements. Chintai will provide the regulated tokenisation infrastructure, on-chain governance systems, and security token risk frameworks for the project.

Barclay Knapp, CEO of MAJV, expressed enthusiasm for the partnership, stating, “Our mission is to preserve the natural beauty and ecological resources of the province whilst using modern digital finance and tokenisation techniques.”

This collaboration not only aims to set a new benchmark in the digital asset sector but also reinforces Singapore’s position in regulated digital assets.

8×8, Inc., a global leader in business communications, has announced the acquisition of Maven Lab, a Singapore-based company specialising in mobile marketing and enterprise messaging. This strategic move aims to enhance 8×8’s capabilities in delivering end-to-end customer engagement across the Asia-Pacific (APAC) region. The acquisition is set to bolster 8×8’s APAC-native messaging and automation capabilities, supporting enterprises and public-sector organisations in managing secure, high-volume communications.

Maven Lab’s integration into 8×8 will see the incorporation of Moobidesk, Maven Lab’s cloud-based customer engagement platform, into the 8×8 Platform for Customer Experience (CX). This integration promises a more scalable and unified platform, improving enterprise messaging performance and supporting a wider range of customer interaction channels. Sylvain Chaperon, General Manager, CPaaS at 8×8, stated, “Maven Lab brings deep experience delivering packaged, outcome-oriented messaging solutions that customers can deploy quickly.”

The collaboration will focus on enhancing engagement capabilities in the region, including smarter automation and support for emerging channels. Hiew Wee Soon, Co-Founder and CEO at Maven Lab, remarked, “Joining forces with 8×8 is a step-change for what our customers can do next.”

Maven Lab’s platforms are already trusted by organisations in healthcare, media, and transport, delivering millions of customer engagements annually. With 8×8’s global scale and compliance standards, customers are expected to benefit from improved data protection and security, supporting more sophisticated automation and omnichannel communication experiences across APAC.

KPMG in Singapore and the Singapore Institute of Directors (SID) have unveiled their strategic recommendations for Singapore’s Budget 2026, focusing on enhancing the nation’s role as a global hub. The proposal, titled “Prospering in a New Global Landscape,” is informed by a survey of over 1,000 professionals and business owners, highlighting the challenges they face and the support they seek from the upcoming budget.

The recommendations are centred around three key areas. Firstly, the concept of a “new global order” emphasises resilience as a growth strategy. This includes initiatives like a unified digital platform for Free Trade Agreement management and the implementation of progressive carbon taxes to bolster economic linkages.

Secondly, the “Intelligent Age” focuses on fostering an ecosystem of Trusted AI. This involves co-funded sector-specific data pools and a regional “Trusted AI” mark to ensure ethical governance and innovation. The aim is to address accountability and ethical deployment concerns in the rapidly evolving technological landscape.

Lastly, the “Next-gen talent” strategy seeks to empower future leaders with cross-domain skills. This includes introducing a dedicated work-pass category for “master trainers” and mentors, alongside job transformation roadmaps with co-funded training. A dedicated fund is also proposed to advance social impact reporting and enhance Environmental, Social, and Governance (ESG) competencies.

These strategies are designed to position Singapore as a trusted connector and aggregator of global flows, ensuring its long-term prosperity amidst evolving global geopolitics and economic shifts. The proposal reflects a proactive approach to maintaining Singapore’s competitive edge in the global arena.

Fullerton Health has announced the acquisition of The ENT Clinic, one of Singapore’s largest otolaryngology practices, as part of its strategy to enhance its speciality care capabilities. Founded by Dr Jeeve Kanagalingam in 2015, The ENT Clinic has expanded from a single doctor to a network of five specialists across three key medical hubs in Singapore: Camden, Novena, and Gleneagles Tanglin.

The acquisition is set to bolster Fullerton Health’s presence in the ENT field, a priority area due to high referral volumes and synergy with the Group’s existing services, including diagnostic imaging and primary care. “We are delighted to welcome The ENT Clinic into the Fullerton Health family,” said Margareta Laminto, Managing Director, Specialist & RadLink, and Group Chief Sustainability Officer of Fullerton Health. She highlighted the acquisition’s role in expanding clinical service capabilities and enhancing coordinated care delivery.

The ENT Clinic will continue to operate under its current brand, maintaining its trusted relationships with patients and referring physicians. Kanagalingam expressed enthusiasm about the partnership, noting, “Joining Fullerton Health marks an exciting new chapter for The ENT Clinic. We see strong synergies in partnering with a well-established healthcare organisation.”

This move allows Fullerton Health to deliver integrated, patient-centric healthcare across Southeast Asia, with The ENT Clinic benefiting from the Group’s extensive network and operational expertise. The collaboration aims to unlock new growth opportunities and expand service offerings in ENT care.

PropNex, one of Singapore’s largest real estate agency, has reported its recommendations for the upcoming Singapore Budget 2026, focusing on market stability, housing affordability, and urban renewal. The agency suggests recalibrating policies to address challenges faced by buyers and homeowners, without compromising affordability or sustainability.

Among the key proposals is the reduction of the additional buyer’s stamp duty (ABSD) for foreigners purchasing high-value non-landed private homes in the Core Central Region (CCR). Kelvin Fong, CEO of PropNex, highlighted the resilience of the Singapore property market, stating, “The healthy home sales and moderate price growth in the past year have showcased both the resilience and discipline in the Singapore property market.”

PropNex recommends lowering the ABSD rate for foreigners to 30% for properties priced at $10m and above, aiming to stimulate sales in the ultra-luxury segment without affecting local buyers. Additionally, the agency suggests reducing the en bloc sale consent threshold to 70% for developments over 40 years old, facilitating urban renewal and optimising land use.

The agency also proposes extending the ABSD remission deadline for large-scale housing projects to seven years, providing developers more time to market units and undertake ambitious projects. Lastly, PropNex advocates raising the mortgage servicing ratio from 30% to 40% for new executive condominium buyers, reflecting rising property prices and ensuring financial prudence.

These recommendations, if adopted, could enhance market dynamics and support Singapore’s urban development goals, offering a balanced approach to property market challenges.

Ensign InfoSecurity has secured the 7th position in the 2025 MSSP Alert Top 250 Managed Security Service Providers list, marking its fourth consecutive year in the global top 10. This achievement reaffirms Ensign’s status as the highest-ranked MSSP from the Asia Pacific region. The MSSP Alert Top 250 list is an annual benchmark that evaluates managed security service providers worldwide based on service breadth, capability, revenue, and innovation.

The company’s sustained recognition highlights its commitment to delivering cutting-edge managed security services amidst escalating global cyber threats. Charles Ng, CEO of Ensign InfoSecurity, stated, “The continued recognition in the MSSP Alert Top 250 highlights our unwavering commitment to delivering world-class managed security services that keep pace with the evolving threat landscape.”

In a strategic move to enhance its offerings, Ensign launched the Agentic Security Operations Centre (SOC) at GovWare 2025. This centre, the first of its kind in Asia, is powered by autonomous AI agents and integrates adaptive intelligence, regional threat insights, and human expertise. It aims to enable organisations to detect, triage, and respond to cyber threats swiftly. Chua Zong Fu, Executive Vice President of International Business at Ensign, noted, “The Agentic SOC represents a fundamental shift in how organisations defend themselves, combining adaptive AI with expert human oversight to stay ahead of adversaries.”

Ensign InfoSecurity, headquartered in Singapore, continues to lead in cybersecurity services, offering bespoke solutions across the Asia Pacific region.

HDB resale prices in Singapore experienced a slight decline of 0.6% in December 2025, according to the latest 99-SRX Media Flash Report. Despite this dip, transaction volumes rose by 21.9% from the previous month, indicating a dynamic shift in the market. This trend is attributed to a potential alignment between buyer and seller expectations, as more than 13,000 flats are expected to reach their Minimum Occupation Period (MOP) in 2026.

The report highlights that the price decrease was observed across different room types, with 3-room, 4-room, 5-room, and Executive flats seeing reductions of 0.3%, 0.9%, 1.1%, and 0.6%, respectively. However, on a year-on-year basis, prices have increased by 2.3% compared to December 2024, with Executive flats showing the highest rise at 5.7%.

Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that the current market conditions present a timely opportunity for buyers. “December’s price moderation likely presented a timely opportunity to enter the market,” he said, as buyers acted to secure properties before potential competition increases next year.

In December, 2,040 HDB resale flats were transacted, with 55% of these coming from Non-Mature Estates. Notably, 145 flats were sold for at least S$1m, marking an increase from November’s 120 units. The highest transaction was a 5-room flat at The Peak @ Toa Payoh, sold for S$1.525m.

As the market transitions, the interplay of supply and demand is expected to stabilise, potentially leading to a more balanced and sustainable environment in 2026.

Savills Singapore has announced the public tender for a partial plot at The Centrepoint, located at 176A Orchard Road. The sale includes 132 leasehold strata units, comprising 66 retail and 66 residential units, under Management Corporation Strata Title Plan No. 1304. This offering presents a rare chance for investors to acquire a strategically located development on Singapore’s iconic shopping belt.

The property, with a 99-year leasehold tenure and approximately 52 years remaining, spans a site area of about 44,700 square feet. Under the 2025 Master Plan, it is zoned “Commercial” with a gross plot ratio of 5.6 and a height control of up to 10 storeys. The Singapore Land Authority has verified a development baseline of approximately 171,482 square feet, with a maximum allowable Gross Floor Area of about 250,320 square feet.

Jeremy Lake, Managing Director of Investment Sales & Capital Markets at Savills Singapore, expressed confidence in exceeding the guide price of $418m, equating to $2,709 per square foot per plot ratio. He highlighted the property’s direct link to Somerset MRT station and its prime location as key attractions for developers.

Savills has a strong track record of brokering major collective sales along Orchard Road, including Concorde Hotel & Shopping Mall and Delfi Orchard. The public tender for The Centrepoint units will open on 7 January 2026 and close on 26 February 2026 at 3pm. There are no restrictions on foreign ownership, making this an attractive opportunity for both local and international investors.

Grab Holdings Ltd, the Singapore-based ride-hailing and delivery giant, has announced the acquisition of Infermove, a Chinese AI robotics firm. This strategic move, revealed during a global meeting in December, is set to bolster Grab’s automated delivery capabilities, particularly in the last-mile segment of its logistics operations.

Infermove, founded in 2021 by Aaron Lu, specialises in autonomous driving systems and mobile manipulation robots. The company’s innovative technologies, including pavement delivery robots and personal mobility robots, are designed to navigate complex real-world environments. Infermove’s proprietary Rider Shadow System allows for the efficient collection of training data, addressing industry challenges related to data acquisition.

The acquisition is expected to significantly enhance Grab’s service reliability and profit margins amidst rising labour costs and growing demand for on-demand deliveries. Infermove will continue to operate independently under Lu’s leadership, reporting directly to Grab’s Chief Technology Officer, Suthen Thomas.

Industry analysts highlight the rapid growth of the global last-mile delivery robotics market, projected to exceed $20b by 2027. This acquisition positions Grab to leverage AI-driven automation as a competitive advantage in the delivery sector.

Grab, which went public via a SPAC merger in 2021, continues to invest in technological advancements across its services. The integration of Infermove’s solutions is anticipated to complement Grab’s existing delivery network and support its expansion efforts in Southeast Asia and beyond.