Industry News

Lum Chang Creations (LCC) has reported a remarkable 104% increase in net profit for the first half of 2026, driven by a 31% rise in revenue to S$53.5m. The company’s gross profit margin also expanded significantly to 33%, up from 21% in the same period last year. This financial performance underscores LCC’s robust business model and strategic growth initiatives.

The company’s order book remains healthy at approximately S$132m as of 31 December 2025, providing strong revenue visibility for the next two years. In light of its financial strength, LCC’s board has declared an interim dividend of 2.5 Singapore cents per share for 1H2026, marking a 13.6% increase over the final dividend for FY2025.

In a significant development, LCC has been added to the MSCI Global Micro Cap Indexes—Singapore Index. This inclusion is expected to enhance the company’s visibility within the global investment community and validate its growth trajectory. Managing Director Lim Thiam Hooi expressed confidence in LCC’s prospects, citing a vibrant project pipeline and plans for strategic expansion into Malaysia.

“Our stellar performance in the first half of FY2026 demonstrates the strength of our specialised business model and our ability to deliver value even amidst a challenging operating environment,” Lim stated. With a strengthened balance sheet and a robust order book, LCC is well-positioned to pursue new growth avenues whilst continuing to deliver high-quality outcomes for its clients in Singapore.

The Central Provident Fund (CPF) Board has announced a new investment scheme set to launch in 2028, designed to provide CPF members with simplified, low-cost, and diversified commercial investment products. This initiative seeks to enhance the investment options available to CPF members, making it easier for them to grow their retirement savings.

The new scheme will streamline the investment process, reducing complexity and costs associated with traditional investment products. By offering a diversified range of options, the CPF Board aims to cater to the varied financial goals and risk appetites of its members. This move is part of a broader strategy to improve the financial well-being of Singaporeans by providing more accessible and effective investment opportunities.

As the 2028 launch approaches, the CPF Board will release further details on the specific products and features of the scheme. This development is expected to have significant implications for CPF members, offering them enhanced tools to manage their retirement savings more effectively.

Singapore enterprises are set to cautiously increase their technology budgets in 2026, according to Apptio’s latest Technology Investment Management Report. Despite this upward trend, nearly half of the respondents express significant uncertainty about the return on investment (ROI) of their tech expenditures, impacting decision-making for chief information officers (CIOs), chief financial officers (CFOs), and financial operations (FinOps) teams.

The report reveals that almost 50% of Singaporean companies anticipate slight increases in their IT and software budgets, reflecting a cautious approach rather than aggressive expansion. However, 49% of respondents highlight that doubts about the value of these investments significantly affect their confidence in making technology decisions.

A notable trend is the funding of artificial intelligence (AI) initiatives, with 67% of organisations planning to reallocate existing budgets rather than seeking new investments. Cybersecurity remains a critical area, with 60% of respondents identifying it as a cost-sensitive aspect of their technology infrastructure.

Additionally, the report highlights a strong reliance on cloud service provider tools among FinOps teams, with 81% of respondents using these native platforms for cloud cost management. This dependency underscores the importance of cloud cost visibility and control in the current tech landscape.

The findings suggest a shift from cost control to demonstrating value in technology decision-making, a theme that could shape future strategies for Singapore’s tech leaders.

Seoul and Tokyo are anticipated to spearhead global prime residential growth in 2026, with property values projected to increase by up to 7.9%, while Singapore’s prime residential values are forecasted to grow between 2% and 3.9%. This is according to Savills’ latest Prime Residential World Cities report. This growth is attributed to ongoing structural supply shortages that continue to drive pricing in select global cities.

Seoul is expected to lead with a forecasted rise in prime flat prices between 6% and 7.9%, following a significant 14.3% increase in 2025. Factors such as limited land availability and concentrated demand in core districts are contributing to this upward trend. Despite tighter regulations and restrictive financing conditions, pricing momentum remains strong.

Tokyo, having recorded a 30% capital value growth in 2025, is also poised for notable growth. The city’s residential development is constrained by competition for land, particularly from office developers, which continues to fuel demand and sustain pricing.

In Singapore, prime residential values growth marks a recovery from negative growth in 2025. Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, noted, “Singapore’s luxury residential market is slowly regaining momentum as more locals and permanent residents realise that value offerings are in the air after the price correction in 2025.”

Globally, prime residential markets showed resilience in 2025, with an average capital value growth of 1.8% across 30 cities, despite economic volatility and geopolitical tensions. However, China’s market faces challenges with prices expected to dip due to weak demand and demographic issues. Meanwhile, Hong Kong’s market shows signs of stabilisation, with anticipated growth of 2% to 3.9% in 2026.

The Monetary Authority of Singapore (MAS) has announced an expansion of its Equity Market Development Programme (EQDP), increasing its funding from S$5b to S$6.5b. This decision, revealed on 12 February 2026, aligns with the government’s Budget 2026 initiative to enhance the Financial Sector Development Fund.

Launched in February 2025, the EQDP aims to bolster Singapore’s local fund management industry and stimulate investor engagement in Singapore equities. To date, MAS has allocated S$3.95b across nine asset managers, reflecting strong interest and a steady influx of applications.

The expanded programme will enable more high-quality asset managers, particularly those focusing on Singapore equities, to receive funding. This move is expected to attract additional third-party investments, thereby strengthening the capital base for Singapore-listed companies with solid fundamentals. The next group of EQDP managers is anticipated to be appointed by mid-2026.

This expansion is a strategic effort to ensure a vibrant and well-functioning equities market in Singapore, supporting the growth of local companies and enhancing the overall financial ecosystem.

AIA Singapore has announced that it has surpassed S$40b in payouts over the last decade, coinciding with its 95th anniversary. The insurer has distributed funds across various claims, including death, critical illness, accident, hospitalisation, and maturity proceeds for retirement and savings. This milestone underscores AIA Singapore’s commitment to supporting the financial well-being of Singaporeans.

The company has been a steadfast presence in Singapore, providing a crucial safety net for families. “For nearly a century, AIA Singapore has been part of the Singapore story, walking alongside generations of families, consistently delivering on our promise to protect their financial security,” the company stated.

As part of its anniversary celebrations, AIA Singapore is launching new initiatives aimed at enhancing its role as a wealth partner. These initiatives are designed to deepen engagement with clients and contribute to the nation’s progress by supporting healthcare and long-term financial goals.

The significant payouts and new initiatives highlight AIA Singapore’s dedication to fulfilling its promises and reinforcing its position as a vital partner in the financial and healthcare sectors. As the company continues to evolve, it remains committed to contributing meaningfully to the lives of Singaporeans, ensuring financial security and peace of mind for future generations.

Ascentium, a Singapore-based global business services platform, has acquired Clara, the largest licensed corporate service provider in the Abu Dhabi Global Market (ADGM). This strategic acquisition significantly bolsters Ascentium’s presence in the Middle East, leveraging Clara’s established operations in both ADGM and the Dubai International Financial Centre (DIFC).

Clara is renowned for its regulatory expertise and robust service delivery, supporting a diverse clientele that includes startups, SMEs, law firms, and government-related entities. The acquisition aligns with Ascentium’s strategy to expand into key jurisdictions by partnering with regulated, values-aligned businesses. Clara will now benefit from Ascentium’s global platform, enhanced service capabilities, and investment capacity, enabling its clients to scale internationally whilst maintaining high regulatory standards.

Lennard Yong, CEO of Ascentium, stated, “ADGM is an important addition to Ascentium’s global platform, and Clara is the market leader. Their regulatory standing, trusted client relationships, and leading technological operating system make them an ideal addition to Ascentium as we continue to expand across the Middle East.”

Kathryn Burke, Managing Director of Clara, expressed enthusiasm about the partnership, noting, “Ascentium has built a platform where people lead and technology enables. By joining Ascentium and aligning with this shared value, we can combine human insight with the power of innovation to help clients navigate increasingly complex, cross-border regulatory environments with confidence.”

This acquisition not only strengthens Ascentium’s foothold in the Middle East but also enhances its ability to offer integrated solutions in corporate services, finance, and accounting, among others, to over 60,000 client entities globally.

Aspire, a leading finance platform for modern businesses, has announced a strategic partnership with Antler to enhance the financial infrastructure for early-stage founders. This collaboration comes as Aspire experiences a 46% year-on-year growth from startups, with plans to increase its startup customer base by 2.3 times in 2026. Andrea Baronchelli, CEO and co-founder of Aspire, highlighted the importance of integrated financial tools, stating, “Partnering with Antler lets us reach founders at the exact moment they’re making critical infrastructure decisions.”

The partnership will connect Aspire with founders at the inception stage, providing immediate access to integrated financial infrastructure as companies begin operations. Hiro Kiga, Partner at Antler Southeast Asia and Japan, emphasised the need for integrated systems to support cross-border operations, saying, “This partnership strengthens the support system around how founders work today.”

Aspire’s momentum is further evidenced by the increased commercial activity among its startup base. AI startups now represent approximately 30% of new additions, and startup customers are processing 50% more in annual payments than two years ago. Additionally, new startup customers are executing 30% more foreign exchange transactions in their first 30 days compared to previous cohorts.

Aspire, headquartered in Singapore, offers a borderless Financial Operating System that combines banking, payments, accounting, and financial operations into a single solution. The company continues to expand across Asia-Pacific, Europe, and the United States, supported by new regulatory licences and strategic partnerships. Asad Kalimi, VP and Global Head of Partnerships and Sales, noted, “Higher payment volumes, increased FX activity and the rise of AI-led startups all point to a more commercially active startup base.”

Private equity (PE) activity in Southeast Asia (SEA) experienced a significant downturn in 2025, with deal values plummeting by 43% to $9.1b across 59 deals, according to the EY Southeast Asia Private Equity Pulse 2025 report. This decline reflects a more cautious investment climate compared to 2024, which saw $16b across 67 deals. Despite this, the market began to regain momentum in the latter half of the year.

The report highlights that digital infrastructure dominated PE investments, accounting for 42% of the total, followed by telecommunications and real estate. Luke Pais, EY-Parthenon Asean Private Equity Leader, noted, “Whilst 2025 started with robust activity in Q1, geopolitical volatility and concerns over potential US tariffs led to more cautious investor sentiments seen in Q2. However, PE investment activity in SEA rebounded in Q3.”

Singapore maintained its status as a regional anchor, contributing over 74% of the total PE deal value. The region also saw an improvement in exit momentum, with 33 deals generating $4.4b, an 18% increase in volume year-on-year. Fundraising efforts in SEA also showed promise, with 10 PE fund closures raising $4.6b, a 97% increase from the previous year.

Looking ahead, the report suggests that digital infrastructure and renewable energy will continue to attract significant investments in 2026, as the market shifts towards value creation-led PE strategies. The private credit market in SEA is also poised for growth, driven by demand from mid-market corporates and financial sponsors.

The February 2026 Build-to-Order (BTO) exercise by the Housing Development Board (HDB) has attracted significant interest, with 14,052 applicants vying for 4,692 new flats as of 5pm on 11 February 2026. This represents an application rate of 3.0 times, according to Kelvin Fong, CEO of PropNex.

Tampines emerged as the most sought-after location, with its two projects, Tampines Nova and Tampines Bliss, achieving a collective application rate of 11.6 times. The proximity of Tampines Nova to the MRT station and local amenities likely contributed to its popularity, with 2-room Flexi flats there seeing an application rate of over 20 times.

In contrast, Sembawang’s projects, Sembawang Voyage and Sembawang Deck, recorded the lowest interest with an application rate of 1.1 times. The location’s distance from key amenities and transport links may have influenced this outcome. Notably, the 5-room flats in Sembawang had an application rate of just 0.7 times, indicating a shift in buyer preferences towards more centrally located options.

Redhill Peaks in Bukit Merah also saw healthy interest, with an application rate of 3.5 times for its 1,052 flats. The upcoming June 2026 BTO exercise is expected to offer around 6,900 flats across five towns, providing further opportunities for prospective homeowners.