Industry News

XL Ventures, a Singapore-based climate tech company, has received in-principle approval from the Monetary Authority of Singapore (MAS) to operate as a licensed Venture Capital Fund Manager. Founded by Amit Sharma and Saroj Mishra, the firm aims to invest in tech start-ups that utilise data sensors and artificial intelligence (AI) to optimise energy consumption in commercial buildings and power infrastructure.

The founders emphasised the importance of immediate and scalable solutions, stating, “All climate technologies required to save the planet already exist; the missing piece is rapid global scaling.” They believe that software and AI can optimise complex energy systems, offering both commercial and environmental benefits.

XL Ventures plans to partner with early-stage companies, providing hands-on support to help them scale in Asia. The firm also aims to collaborate with large local conglomerates to facilitate market access. “We see significant opportunities for European tech start-ups in the efficiency and smart-tech space,” Sharma and Mishra noted, highlighting the alignment with government and private sector agendas in Singapore, India, and other Asian economies.

The company is already assisting several UK-based start-ups in gaining traction in these markets. With a shift in focus from the US to Asia and the GCC economies, XL Ventures is poised to play a pivotal role in advancing climate tech solutions across the region.
“`

TECHKLOUD has officially launched its exclusive online shopping channel in Singapore, providing consumers with convenient access to high-quality products from over 20 countries. The platform offers a diverse range of items, from Japanese and Korean beauty products to Nordic home goods, ensuring that the shopping needs of Singaporeans are met with ease and efficiency.

The new channel promises a seamless shopping experience with a fully compliant customs process, ensuring products are delivered directly to Singapore. Core areas can expect shipments within three to five business days, and a real-time package tracking system is available to keep consumers informed about their purchases. All products on the TECHKLOUD platform are officially authorised, guaranteeing authenticity and quality.

To enhance customer satisfaction, TECHKLOUD offers a flexible 15-day return and exchange policy, allowing consumers to return or exchange items if they do not meet expectations. The platform supports multiple payment methods, including PayNow, GrabPay, PayPal, credit cards, and NETS, with all transactions secured by the Monetary Authority of Singapore (MAS).

The platform’s launch marks a significant step in TECHKLOUD’s commitment to providing a fast, safe, and convenient shopping experience. With categories spanning fashion, consumer electronics, home goods, toys, and sports equipment, TECHKLOUD is poised to lead e-commerce development in rapidly growing markets. The company emphasises exceptional service, offering free returns, multiple payment options, and comprehensive customer support in English and Mandarin.
“`

The United Kingdom and Singapore have reinforced their financial collaboration during the 10th UK-Singapore Financial Dialogue held in London on 3 July 2025. The discussions centred on digital finance, innovation, sustainable finance, capital markets, and international regulatory developments, highlighting the ongoing partnership between the two nations.

The dialogue saw both countries exchanging insights on digital finance, particularly in tokenisation and artificial intelligence (AI). The Financial Conduct Authority (FCA) and the Monetary Authority of Singapore (MAS) agreed to enhance their collaboration on Project Guardian, focusing on asset tokenisation. Additionally, they plan to develop joint initiatives on AI, starting with the FCA-MAS AI Innovation Showcase in London.

In sustainable finance, the UK and Singapore shared updates on their respective strategies. The UK discussed its Transition Finance Market Review and the creation of the Transition Finance Council, whilst Singapore highlighted the adoption of the Singapore-Asia Taxonomy. Both nations acknowledged the importance of high-integrity carbon markets and discussed initiatives to promote them.

Capital markets were also a key focus, with the UK outlining recent pension reforms and its commitment to a T+1 settlement cycle by October 2027. MAS provided updates on measures to enhance liquidity and attract quality listings.

The dialogue concluded with a commitment to continue engagement beyond the event, with plans for further cooperation in sustainable finance and innovation ahead of the next dialogue in Singapore in 2026. The event was followed by an industry-led UK-Singapore business roundtable, further solidifying the partnership between the two countries.
“`

The 9th ASEAN Conference, organised by the Singapore Business Federation (SBF) and supported by United Overseas Bank (UOB), RSM Singapore, and Rajah & Tann Singapore, concluded today at the Resorts World Convention Centre in Singapore. The event, themed “ASEAN Integration in a Multipolar World,” gathered high-level government officials, regional thought leaders, and investors to discuss strategies for maintaining ASEAN’s relevance and cohesion in a rapidly changing global landscape.

The conference coincided with the ASEAN Economic Community (AEC) Blueprint 2025 milestone, serving as a platform to reaffirm ASEAN’s unity and competitiveness. Discussions focused on the region’s ability to harness its diverse workforce and build resilience to thrive in global trade and investment. A Ministerial Dialogue featured key figures such as Singapore’s Deputy Prime Minister, Gan Kim Yong, and Malaysia’s Deputy Minister for Investment, Trade and Industry, Liew Chin Tong, who emphasised the need for deeper collaboration.

A business plenary session explored adaptable strategies through partnerships and emerging industries. Notable speakers included Arthur Lang from Singtel and Christopher Ong from DHL Express Singapore. The conference also introduced the ASEANext Forum, engaging over 120 young entrepreneurs in dialogue about ASEAN’s trade potential.

The event attracted more than 600 delegates, highlighting ASEAN’s commitment to sustainable growth and regional cooperation. As the region faces global uncertainties, the conference underscored the importance of a united ASEAN front to ensure long-term prosperity.
“`

Thales has unveiled its 2025 Cloud Security Study, conducted by S&P Global Market Intelligence 451 Research, highlighting significant challenges faced by organisations in Singapore and the Asia Pacific (APAC) region in securing cloud environments. The study reveals that nearly half of Singaporean respondents (49%) are prioritising AI security investments, indicating a shift in budget allocation due to the rapid adoption of AI technologies.

The report underscores that cloud security remains a top concern, with 60% of Singapore respondents ranking it among their top five security priorities. This mirrors the broader APAC trend, where 60% also consider cloud security a priority. However, the complexity of securing cloud environments is evident, as 69% of Singaporean respondents find cloud security more challenging than on-premises infrastructure, compared to 58% in APAC.

The study also highlights the growing use of Software as a Service (SaaS) applications, with Singaporean enterprises using an average of 77 applications, contributing to security tool sprawl. Despite the high percentage of sensitive data in the cloud, only 76% of Singaporean organisations have implemented multifactor authentication, leaving critical data exposed.

Daniel Toh, Chief Solutions Architect for Asia Pacific & Japan at Thales, stated, “The accelerating shift to cloud and AI is forcing enterprises to rethink how they manage risk at scale.” The study indicates that human error remains a significant vulnerability, with a rise in user credential attacks reported by 25% of Singapore respondents.

As organisations continue to expand their cloud usage, the need for robust security measures becomes increasingly critical. The findings suggest that whilst AI security is gaining importance, there is still a need for comprehensive strategies to address the evolving threat landscape in cloud environments.
“`

Tata Consultancy Services (TCS) has launched an AI-Powered Research & Innovation Centre in Singapore, aiming to accelerate digital transformation and cement Singapore’s status as a global innovation leader. The centre, located at the TCS Asia Pacific Office in Changi Business Park, was inaugurated with the presence of Alvin Tan, Minister of State for the Ministry of National Development and the Ministry of Trade & Industry, Singapore.

The centre will serve as a collaborative hub, bringing together startups, academia, and enterprises across the Asia Pacific region to co-create scalable AI solutions. This initiative aligns with Singapore’s Smart Nation vision, supporting its ambition to become a digital-first economy by leveraging advanced technologies.

Jermaine Loy, Managing Director of the Economic Development Board, Singapore, remarked, “We welcome TCS’ new AI-powered Research and Innovation Centre to Singapore’s growing and vibrant innovation ecosystem. The centre’s focus on helping local businesses accelerate their digital transformation and training graduates to have in-demand digital skills is aligned with Singapore’s push for AI to be used responsibly to boost productivity and competitiveness.”

The centre is part of TCS’s global innovation ecosystem, TCS Pace™, which includes hubs in cities like Amsterdam, London, and New York. It will explore AI applications across industries to enhance productivity and drive sustainable growth. Girish Ramachandran, President – Growth Markets, TCS, highlighted Singapore’s strategic position as a technology hub, stating, “This new AI centre will connect Singapore with other innovation hubs, enabling cross-border collaboration and knowledge exchange.”

TCS’s commitment to Singapore’s innovation landscape is further evidenced by its past initiatives, such as the Digital Acceleration Centre launched in 2018. The new centre will also focus on addressing talent gaps and supporting local startups, thereby strengthening Singapore’s economy and workforce readiness.
“`

Maria Ramos, the newly appointed Group Chair of Standard Chartered Bank PLC, embarked on her inaugural visit to Singapore this week, marking one of her first international trips since assuming her role in May. Singapore, a crucial market and the second largest income contributor to the Group, played host to Ramos over a three-day visit from 1 to 3 July.

During her stay, Ramos engaged in a series of meetings and activities with clients and colleagues, aiming to deepen her understanding of key market trends and discuss strategic priorities for the bank in Singapore and the ASEAN region. Her itinerary included a visit to Standard Chartered’s flagship Battery Road Branch, where she interacted with employees and observed the bank’s latest digital capabilities designed to enhance client wealth management experiences.

Ramos’s visit also provided an opportunity to connect with long-serving employees, such as Choong Syn Fah, Mohd Farouk Shahul Peon, and Gina Chng, who have collectively dedicated over a century of service to the bank. Additionally, she was briefed on the bank’s digital transactions by relationship service manager Grace Cheong and branch manager Elaine Mckinna.

Standard Chartered Bank has a longstanding presence in Singapore, with a history dating back to 1859. The bank continues to play a significant role in the region, supporting both individual and corporate financial needs through a comprehensive range of services. As Ramos continues her tenure, her visit underscores the bank’s commitment to strengthening ties and exploring growth opportunities in key markets.
“`

Maison Krug has introduced its latest Éditions, Krug Grande Cuvée 173ème Édition and Krug Rosé 29ème Édition, alongside the 11th edition of its Single Ingredient programme, focusing on the carrot. This initiative, now in its 11th year, invites chefs from Krug Ambassades across Southeast Asia to explore the culinary potential of a single ingredient, this year being the carrot, to create dishes that complement Krug’s Champagne.

The Single Ingredient programme has previously highlighted elements like potatoes and rice, encouraging chefs to craft dishes that reflect Krug’s meticulous blending of wines. This year, the carrot serves as a muse, inspiring a range of culinary expressions from nostalgia to elegance. Each dish is designed to harmonise with Krug’s latest Éditions, offering new dimensions of flavour and texture.

Krug, founded by Joseph Krug in 1843, is renowned for its annual release of new Éditions, regardless of climate variations. The Krug Grande Cuvée 173ème Édition blends over 150 wines from 13 years, whilst the Krug Rosé 29ème Édition comprises 29 wines from five vintages, showcasing the House’s expertise.

On 9 July, Krug will host its inaugural Southeast Asia Ambassade Regional Summit in Singapore, gathering culinary talents from 11 Krug Ambassades, including those from Singapore, Malaysia, and Thailand. This summit celebrates the synergy between Krug Champagne and gastronomy.

From July to December 2025, guests can enjoy by-the-glass pairings at participating Krug Ambassades in Singapore, such as Zén and JAAN by Kirk Westaway. Each pairing reflects the chef’s unique philosophy and honours the versatility of the carrot. Guests will also receive a complimentary Krug x Carrot cookbook, featuring global chef-curated recipes inspired by the carrot.
“`

Wonderhealth Pte Ltd has unveiled a nationwide health awareness campaign in Singapore, focusing on preventive healthcare. This initiative, announced on 3 July 2025, aims to educate the public on early detection and healthy lifestyle habits through community workshops, health talks, and digital resources.

The campaign introduces a range of digital educational materials addressing common health risks and preventive measures. Key features include home-based health screenings, allergy testing, and the LucenceINSIGHT Cancer Screening—a non-invasive tool for early cancer detection. Additionally, corporate health screenings are available to enhance workplace wellness programmes.

Edmund Yeo of Wonderhealth stated, “We believe preventive healthcare is an essential part of everyday wellness. Through this campaign, we aim to empower individuals and organisations with the knowledge and tools needed to take charge of their health early.”

This initiative aligns with Wonderhealth’s commitment to community education and accessible healthcare services. By offering evidence-based resources and fostering dialogue, the company seeks to support Singaporeans in making informed health decisions.

Wonderhealth’s mission is to make healthcare accessible, convenient, and affordable, whether at home, in the workplace, or within the community. The campaign underscores the importance of preventive care and early detection as foundational elements of a healthier society. For more information on workshops and screening options, visit Wonderhealth’s website.
“`

GreenTeams, a climate technology company focused on environmental governance in Indonesia, has successfully closed its Series A funding round, led by Oriza Greenwillow Technology Fund. This funding will enable GreenTeams to expand its real-time emissions and air quality monitoring technologies, supporting Indonesia’s Net Zero 2060 target.

The company plans to use the funds to scale its product innovation, enhance AI-powered monitoring platforms, and expand regionally. GreenTeams CEO, Wilson B Sutarko, expressed gratitude for the trust from partners, stating, “This funding allows us to deepen our national footprint, grow our team, and expand impact across multiple sectors.”

GreenTeams has established itself as a full-stack climate tech provider, with deployments in over 30 Indonesian provinces. Its flagship offerings, Continuous Emission Monitoring Systems (CEMS) and Air Quality Monitoring Systems (AQMS), provide real-time data capture and emissions tracking. In 2024, the company achieved 98% revenue growth, driven by regulatory enforcement and industry demand for ESG-aligned practices.

CK Tan, Managing Partner of Oriza Greenwillow Technology Fund, praised GreenTeams’ execution capability and commitment to sustainability, highlighting its role in building transparency and trust in environmental data.

With the new capital, GreenTeams plans to:
– Scale nationwide deployment of monitoring systems across various sectors.
– Advance AI-powered predictive tools for environmental forecasting.
– Expand data platform integrations for regulatory and industrial markets.
– Build capacity for regional expansion beyond Indonesia.

GreenTeams continues to drive scalable environmental impact through its innovative technologies and certified infrastructure, contributing to Indonesia’s Net Zero goals.
“`