Industry News

The National University Heart Centre, Singapore (NUHCS) has become the first tertiary centre in Singapore to implement Photon-Counting Computed Tomography (PCCT) technology for a high workload of complex cardiac cases, aiming to enhance cardiac care for high-risk patients. This innovative imaging method is set to transform diagnostics for complex cardiac cases, particularly benefiting older adults and individuals with renal conditions.

As Singapore faces an ageing population, with projections indicating nearly one in four citizens will be 65 or older by 2030, the demand for safer cardiac diagnostics is increasing. Cardiovascular disease already accounts for nearly one in three deaths in the country. The introduction of PCCT at NUHCS and the National University Hospital (NUH) addresses this need by offering a less invasive alternative to traditional coronary angiograms.

Associate Professor James Yip, Executive Director and Senior Consultant at NUHCS, highlighted the significance of this advancement: “With Singapore’s ageing population, we are seeing more patients with complex cardiac conditions who may not tolerate invasive coronary angiogram well.” The PCCT technology allows for detailed imaging of coronary arteries in a single scan, reducing the need for invasive procedures and minimising the use of contrast media, crucial for patients with kidney issues.

A 90-year-old patient with severe aortic stenosis was the first to benefit from this technology, undergoing a Transcatheter Aortic Valve Implantation (TAVI) without the need for an invasive angiogram. The procedure was successful, with the patient discharged after two days and showing stable kidney function.

This development marks a significant step towards more patient-centred cardiac care, reducing procedural risks and improving diagnostic accuracy. As Singapore’s healthcare system evolves to meet the needs of an ageing society, such innovations promise a safer and more efficient care experience for a broader range of patients.

Singapore’s non-oil domestic exports (NODX) experienced a significant increase in April, rising by 24.5% compared to the same period last year, according to UOB Global Economics and Markets Research. This marks the fourth consecutive month of growth, with a month-on-month seasonally adjusted increase of 11.0%, surpassing both Bloomberg’s median estimate of 10.9% and UOB’s own forecast of 11.7%.

The electronics sector led the charge with a 16.1% month-on-month increase, bolstered by demand for personal computers, telecommunications equipment, and integrated circuits. This growth is attributed to the ongoing demand for AI-related technologies and their integration into consumer electronics. The Electronics Purchasing Managers’ Index (PMI) also rose slightly to 51.7, indicating positive future prospects.

Pharmaceutical exports saw an even more dramatic rise, with a 90.2% month-on-month increase. This surge is partly due to front-loading in anticipation of the US’s impending tariffs on selected pharmaceuticals, set to take effect later this year. Meanwhile, petrochemical exports showed resilience despite a modest decline of 6.9% following a strong performance in March.

UOB’s report suggests that the K-shaped growth pattern in NODX is likely to continue, with electronics and semiconductors maintaining strong performance. However, non-electronics exports may face challenges due to supply shortages and rising energy prices. Despite signs of a potential peak in the electronics cycle, UOB believes it is premature to declare one, given the continued strength in semiconductor exports from key markets like South Korea.

Qingjian Realty, Forsea Holdings, CYZ Land, and Jianan Capital have successfully sold 201 out of 327 units at Hudson Place Residences during its launch weekend. The 99-year leasehold development, located at Media Circle, saw units transacted at an average price of S$2,458 per square foot.

The development, which features two residential towers of 23 and 15 storeys, offers a mix of 2-bedroom to 4-bedroom layouts, as well as a limited collection of five penthouses. The strong demand was evident across all unit types, with the three-bedroom deluxe and four-bedroom premium units experiencing the highest take-up rates. Notably, 100% of the three-bedroom deluxe and over 88% of the four-bedroom premium units were sold.

The developers attribute the success to the development’s competitive pricing, thoughtful design, and strategic location within the emerging Media Circle precinct. “Hudson Place Residences was designed for buyers who value thoughtful layouts, quality finishings, and homes that carry a distinct sense of style,” said Du Dexiang, Managing Director of Qingjian Realty.

Wang Xin, Director at Forsea Holdings, highlighted the area’s transformation, stating, “Media Circle is steadily maturing into a more complete neighbourhood, and we are honoured to be playing a strong hand in this transformation.”

The development is expected to achieve vacant possession by Q3 2029, and the sales gallery is open daily for potential buyers. Hudson Place Residences is part of a broader effort to develop the Media Circle neighbourhood, following the launch of Bloomsbury Residences in April 2025.

DBS has announced its intention to recruit more than 500 young professionals in Singapore this year through its Management Associate, Internship, and Traineeship programmes. This initiative is part of the bank’s commitment to nurturing future talent in the AI era, with a total of nearly 1,600 young individuals expected to join DBS between 2024 and 2026.

DBS CEO Tan Su Shan emphasised the importance of these opportunities, stating, “AI is enabling young graduates to learn faster, contribute earlier, and take on higher-value work from the outset.” The bank’s Young Talent Programme for AI in Finance aims to enhance the career readiness of graduates, in collaboration with the Institute of Banking and Finance (IBF) and industry partners.

The flagship Management Associate Programme at DBS is designed to develop future leaders through a structured 12-month journey based on the Triple E framework of Education, Exposure, and Experience. In 2026, DBS has hired 112 Management Associates, more than doubling the average annual intake of previous years.

The DBS Internship Programme offers students practical experience in banking, technology, and innovation, with over 400 interns expected this year. Additionally, the Graduate Industry Traineeship (GRIT) Programme provides fresh graduates with a six-month immersive learning experience, with DBS planning to recruit a similar number of trainees as last year.

Clarissa Jew, a data scientist who joined DBS in 2024, shared her experience: “Using the bank’s in-house AI tools such as CodeBuddy and DBS-GPT has really accelerated how quickly I can contribute.” Her journey highlights the opportunities for young professionals to engage in meaningful work and develop their skills in a supportive environment.

DBS’s continued investment in young talent underscores its commitment to future-proofing Singapore’s banking talent pipeline in an increasingly AI-driven world.

Cushman & Wakefield Singapore has unveiled its latest report, “Rethinking Facility Management,” coinciding with World FM Day on 13 May 2026. The report explores the evolving landscape of facility management (FM) in Singapore, emphasising a shift towards integrated, technology-enabled, and outcome-based models to meet rising operational demands and tenant expectations.

The report identifies a significant opportunity for property owners and service providers to adopt these advanced FM strategies. Natalie Craig, Chief Executive of Cushman & Wakefield Singapore, stated, “World FM Day is a timely opportunity to recognise the role facility management plays as a strategic driver of value across the built environment.” She highlighted the increasing collaboration and focus on measurable results within the industry.

Outcome-based integrated facility management (IFM) is seen as the next evolution in FM, aligning remuneration with tangible outcomes like energy efficiency. According to the report, this approach can reduce total costs by 5–15% compared to traditional models. Frost & Sullivan’s data supports this trend, projecting the IFM sector in Singapore to grow from 32.5% of the outsourced market in 2024 to 33.3% by 2030.

Technology is pivotal in this transformation, enabling real-time oversight and predictive maintenance. The report notes that technology upgrades have led to an 11.1% reduction in energy consumption. As Singapore advances towards a sustainable built environment, FM will play a crucial role in shaping efficient and people-centric spaces.

The report underscores the importance of integrating people, places, and processes to create environments that support businesses and communities effectively.

Singapore Airlines (SIA) reported a 7.0% year-on-year increase in group passenger traffic for April 2026, surpassing the 6.3% rise in passenger capacity. This led to an improved passenger load factor (PLF) of 88.4%, up by 0.5 percentage points from the previous year. SIA and its low-cost subsidiary, Scoot, achieved monthly PLFs of 87.7% and 91.0% respectively, carrying a combined total of 3.6 million passengers, marking a 7.5% increase from April 2025.

The cargo sector also saw growth, with loads increasing by 3.7% year-on-year, outpacing a capacity expansion of 2.3%. This resulted in a cargo load factor rise of 0.8 percentage points to 57.9%. The SIA Group attributed part of this growth to spillover passenger traffic and cargo loads, particularly on routes to Europe and the Americas, as capacity through Middle East hubs remained limited due to ongoing regional conflicts.

As of 30 April 2026, the SIA Group’s passenger network spanned 134 destinations across 35 countries and territories, with SIA serving 77 destinations and Scoot 82. The cargo network covered 137 destinations in 36 countries and territories. This expansion reflects the group’s strategic efforts to enhance connectivity and service offerings amidst global challenges.

Residential leasing transactions in Singapore increased by 4% in the first quarter of 2026, reaching 20,862, according to Savills’ latest report. Despite this growth, market feedback suggests leasing activity remains relatively subdued. Tenants are increasingly accepting higher renewal rents and opting for shorter leases due to economic uncertainties and job security concerns.

In the high-end segment, rents have consistently grown, with Savills’ index for non-landed homes rising 1.7% quarter-on-quarter to S$6.15 per square foot. This marks the sixth consecutive quarter of increases, with prime rents recovering by 7% since Q3 2024. Notably, Normanton Park and Marina One Residences led leasing activity with median rents of S$6.19 and S$6.49 per square foot, respectively.

Supply growth was limited, with 911 private residential units receiving Temporary Occupation Permit status, primarily in Outside Central Region (OCR) projects like The Botany at Dairy Farm and Sceneca Residence. Consequently, total islandwide stock increased marginally by 0.2% to 424,165 units.

Vacancy rates varied across sub-markets. The Core Central Region (CCR) saw a tightening, with vacancy rates easing to 8.2%, whilst the Rest of Central Region (RCR) and OCR experienced slight increases to 6.3% and 5.2%, respectively. Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, noted that despite global economic challenges, the rental market’s resilience should maintain stable conditions throughout 2026, with an additional 5,371 units expected to be completed by year-end.

Ever Glory United has announced the acquisition of approximately S$230m in new contracts, boosting its total order book to over S$900m. This development provides the company with earnings visibility extending through 2027 and beyond. The newly secured projects span various sectors, including public transport infrastructure, integrated resorts, and commercial and office developments.

The company’s CEO and Executive Director, Xu Ruibing, expressed confidence in the firm’s competitive edge across diverse sectors. “These new awards are a further affirmation of the Group’s ability to compete and win across a diverse range of sectors — from national transport infrastructure to world-class hospitality,” he stated. With the order book now exceeding S$900m, Xu highlighted the strong revenue foundation that allows the company to continue executing projects with discipline and delivering value to stakeholders.

Xu also emphasised Ever Glory United’s focus on its robust pipeline of opportunities. “We remain focused on our robust pipeline of opportunities and are well-positioned to secure further significant projects in the coming months,” he added. The company’s integrated capabilities and proven track record in project delivery are seen as key differentiators as it pursues the next phase of growth.

The announcement underscores Ever Glory United’s strategic positioning and potential for future expansion, with significant projects anticipated in the near future.

The Civil Aviation Authority of Singapore (CAAS) and the National Trades Union Congress (NTUC) have unveiled two initiatives to bolster early career support for Singaporeans entering the aviation industry. Announced on 18 May 2026, the NTUC Aerospace and Aviation Cluster Youth Chapter and the S$2.6m OneAviation Early Careers Mentorship Programme are designed to address the sector’s growing demand for skilled professionals as Singapore Changi Airport prepares to expand.

The NTUC Aerospace and Aviation Cluster Youth Chapter is the first sector-level youth chapter under a union cluster, targeting individuals aged 35 and below. It aims to foster a sense of belonging among young professionals, provide career navigation support, and empower future leaders through structured training. This initiative will work closely with unions and sector agencies to tailor programmes to the needs of young aviation workers.

The OneAviation Early Careers Mentorship Programme, funded by CAAS and managed by NTUC LearningHub, will offer structured mentorship to 2,200 early career workers over the next five years. This programme, the first of its kind at a sector-wide level, seeks to enhance job satisfaction and retention by integrating mentorship into human resource systems. Companies like SATS and SIA Engineering Company are already participating, with plans to involve more aviation employers.

These initiatives are part of a broader effort to strengthen Singapore’s aviation workforce, which employs over 60,000 people. The collaboration between CAAS, NTUC, and industry players underscores a commitment to developing a resilient and skilled workforce as the sector evolves with technological advancements.

The Urban Redevelopment Authority (URA) has initiated the tender for two government land sales (GLS) plots located at Berlayar Drive and New Upper Changi Road. PropNex’s Head of Research and Content, Wong Siew Ying, expects these sites to attract significant interest from developers, driven by a strong demand for new private homes and the need to replenish land inventory.

The Berlayar Drive site, situated in the Greater Southern Waterfront precinct, is anticipated to receive four to six bids. This site offers a manageable development size with the potential for 415 new units. The area benefits from improved buyer sentiment and proximity to the Telok Blangah MRT station, VivoCity mall, and future developments in HarbourFront. Wong noted, “The Berlayar Drive GLS site may potentially attract four to six bids, with the top bid price ranging from $1,350 to $1,450 psf ppr.”

Meanwhile, the New Upper Changi Road site could provide up to 1,010 new homes and is conveniently located near the Bedok integrated transport hub. Despite its large size, which may require developers to form consortiums, the site is expected to be popular due to its accessibility and the strong demand for mass-market homes. Wong projected that this site might garner two to four bids, with top bids ranging from $1,250 to $1,350 psf ppr.

These developments are poised to meet the needs of HDB upgraders and other prospective homebuyers, reflecting the ongoing demand for well-located residential projects in Singapore.