Industry News

Ipsos Singapore has unveiled its latest study, “CX Global Insights 2025,” highlighting the importance of emotional connections in customer experience (CX). The study, presented at a recent event in Singapore, reveals that only 31% of customers worldwide believe companies truly care about them, underscoring a significant experience gap. The research, which surveyed 65,000 evaluations across 18 countries, including Singapore, emphasises the need for businesses to foster emotional attachments to drive loyalty and exceed customer expectations.

The study’s findings are particularly relevant for Singapore, where 57% of customers choose brands based on recommendations, yet only 31% would recommend the same brand afterwards, falling below the global average of 48%. This indicates a disconnect between initial brand choice and customer satisfaction. Additionally, 44% of Singaporean customers find social media influencers untrustworthy, suggesting a need for businesses to build trust through authentic interactions.

Key insights from the study include the importance of friendly service, reliable products, and seamless digital experiences. Notably, 52% of Singaporean customers are willing to pay more for better experiences, increasing to 70% if emotional connections are established. This trend is evident even in essential sectors like supermarkets and mobile networks, where emotionally attached customers are more willing to pay extra.

The study also highlights the role of artificial intelligence (AI) in CX, with less than half of Singaporean customers believing it enhances their experience. Ipsos recommends balancing AI with human interaction to address complex situations effectively.

Ipsos’ findings suggest that businesses must rethink their approach to CX, focusing on emotional connections and personalised interactions to truly differentiate themselves and foster customer loyalty.
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Affluent investors across Asia have dramatically reshaped their portfolios, doubling their allocations to alternative investments and gold, according to HSBC’s 2025 Affluent Investor Snapshot. The report, which surveyed 10,797 investors in 12 markets, highlights a notable trend towards diversification, particularly among younger investors who have tripled their allocations to alternative assets over the past year.

The Snapshot reveals that affluent investors have reduced their cash holdings by nearly 40%, opting to put their money to work in more dynamic asset classes. This shift is largely driven by younger generations, with Gen Z and millennials leading the move away from cash. As interest rates fell, these investors reduced their average cash holdings from 31% to 17%.

Gold investments have seen a significant increase, with allocations more than doubling from 5% to 11%. Investors in Indonesia, mainland China, and Malaysia have registered the largest increases in gold allocations. Additionally, nearly half of the affluent investors globally plan to invest in gold in the next year, with a growing interest in tokenised formats.

International investing is also on the rise, with the US remaining a favoured market for overseas investments. Singapore and Hong Kong have emerged as top choices for opening overseas investment accounts. Overall, 40% of affluent investors plan to invest internationally within the next 12 months, with the highest interest in the UAE and Singapore.

Despite global uncertainties, 80% of affluent investors remain confident in achieving their long-term financial goals, with retirement and wealth building as top priorities. The report underscores a strategic shift in investment behaviours, as affluent individuals seek to build and preserve wealth through diversified portfolios.
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OCBC has announced the introduction of a smart text resizing feature in its app, set to launch by the end of July 2025. This new feature will allow users, particularly seniors and those with sight challenges, to choose from seven text sizes in both English and Mandarin. This initiative is part of OCBC’s commitment to advancing inclusivity in digital banking as Singapore transitions into a “super aged” society.

The development of this feature involved nearly 100 engineers, designers, and product managers, driven by observations that many older customers struggled with the default text size. The app’s interface will now adapt to the customer’s preferred text size and device’s screen dimensions, addressing limitations found in system-level font adjustments on both iPhone and Android devices.

This feature is part of OCBC SeniorCare, a $2 million (£1.6 million) programme launched earlier this year to empower over 180,000 seniors. It complements other efforts such as the hiring of OCBC CARE Ambassadors fluent in dialects to assist seniors at selected branches. Sunny Quek, Head of Global Consumer Financial Services at OCBC, stated, “With almost 40% of our digitally active customers aged 60 and above, it’s clear that designing for inclusivity is not just a nice-to-have – it’s a necessity.”

The smart text resizing feature is expected to encourage more seniors to engage with digital banking, whilst OCBC continues to offer support through CARE Ambassadors and Sunday branch openings. This development marks a significant step in making banking accessible to all, regardless of age or ability.
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Seatrium Limited has been awarded a contract by Kinetics, a Karpowership initiative, to convert a Liquefied Natural Gas Carrier (LNGC) into a Floating Storage Regasification Unit (FSRU) named LNGT Turkiye. The project, set to begin in the third quarter of 2025, will involve installing a regasification module, a spread-mooring system, and integrating essential systems such as cargo handling, offloading, utility, electrical, and automation.

This marks the seventh FSRU project awarded to Seatrium by Kinetics, highlighting a robust strategic partnership. Alvin Gan, Executive Vice President of Repairs and Upgrades at Seatrium, expressed gratitude for Kinetics’ trust, noting that this collaboration underscores Seatrium’s commitment to excellence and innovation. “This contract is a testament to the successful strategic partnership between our companies,” he stated.

Kinetics, aiming to become a major owner of floating LNG assets globally, has already collaborated with Seatrium on four completed projects, including Karmol LNGT Powership Antarctica. Two additional FSRU conversions are currently underway, with deliveries expected later this year and in early 2026.

Mehmet Katmer, CEO of Kinetics, praised Seatrium’s engineering expertise and technical capabilities, emphasising the importance of their partnership in delivering sustainable energy solutions. “This final contract represents a significant milestone in Kinetics’ ambition to lead the global FSRU market,” he said.

Seatrium, with a history of 21 successful FSRU/FSU conversions since 2007, continues to lead the global market in this specialised sector, reinforcing its position as a pioneer in FSRU conversions.
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The National Semiconductor Translation and Innovation Centre for Gallium Nitride (NSTIC (GaN)) was officially launched today by Minister Tan See Leng, marking a significant step in Singapore’s semiconductor industry. This new facility, dedicated to Gallium Nitride (GaN) semiconductors, aims to accelerate innovation and commercialisation in high-growth sectors such as 5G and satellite communications.

NSTIC (GaN) is a collaborative effort between the Agency for Science, Technology and Research (A*STAR), DSO National Laboratories, and Nanyang Technological University, Singapore. It addresses the industry’s need for advanced infrastructure, offering local and international companies access to cutting-edge facilities for research and development, prototyping, and scaling of GaN-based technologies.

The centre features both 6-inch GaN-on-Silicon Carbide and 8-inch GaN-on-Silicon wafer fabrication lines, enabling a wide range of applications. From mid-2026, NSTIC (GaN) will provide commercial foundry services, allowing companies to develop advanced technologies locally, reducing reliance on overseas facilities.

Cheong Chee Hoo, Chairman of the NSTIC (GaN) Steering Committee, stated, “NSTIC (GaN) is not just a facility — it is a national platform for innovation and a catalyst for future technologies.”

The launch also included the signing of several Memoranda of Understanding and Research Collaboration Agreements with industry partners, focusing on areas such as substrate development and high-frequency circuit design. These collaborations aim to strengthen local capabilities and enhance Singapore’s supply chain resilience.

NSTIC (GaN) is poised to play a crucial role in developing local semiconductor talent through partnerships with educational institutions, ensuring a skilled workforce to support the industry’s growth.
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Singapore’s venture capital scene witnessed a significant boost in June 2025, with funding reaching $147 million, a notable 67.1% rise from the previous month. This surge highlights the growing investor confidence in the region’s tech start-ups, despite no new unicorns emerging during this period.

The monthly tracker from Tracxn reveals that the funding in June 2025 also represents a substantial 178.9% increase compared to the same month last year, which saw $53 million in investments. This upward trend underscores the robust growth and resilience of Singapore’s start-up ecosystem.

Among the top deals, Bolttech secured $265 million, leading the funding rounds. Other significant investments included Syfe with $23 million, Sleek with $21 million, and IOST with $3.5 million. These investments reflect a diverse interest across various tech sectors, from fintech to blockchain.

Despite the impressive funding figures, the month did not see any initial public offerings (IPOs) or acquisitions, maintaining the status quo from May 2025. This suggests that whilst funding is on the rise, exits remain relatively stagnant.

The data, focusing solely on equity rounds and tech companies, indicates a vibrant investment landscape in Singapore. As the region continues to attract substantial venture capital, the future looks promising for its burgeoning tech industry.
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Amazon Singapore has announced an exciting line-up for Prime Day 2025, running from 8 to 14 July. Prime members can enjoy significant discounts across categories such as Beauty, Health & Personal Care, PC & Electronics, and Home & Kitchen, with products sourced from the US, Japan, and Germany. The event is accessible to all by joining Prime or starting a 30-day free trial.

In addition to the deals, Amazon is hosting the Amazon Prime Day Maze on 5 and 6 July at Suntec City. This free public event allows visitors to explore interactive zones and missions inspired by Amazon Prime membership. The maze offers a preview of the deals and new product launches, with sessions running hourly from 12:00 PM to 7:00 PM.

Prime members can expect savings on brands like FOREO, Neutrogena, Anker, and Roborock. Highlights include up to 66% off Anker electronics and up to $800 off Roborock vacuum cleaners. Amazon Fresh & Fast also offers up to 50% off selected items and special promotions on seafood and beverages.

Additional perks include discounts for first-time and repeat customers, as well as offers for HSBC and Citibank cardholders. Amazon.sg Gift Cards purchased before 14 July will receive additional credit.

The Prime Day Maze promises a hands-on experience, with a LEGO Play Area and Amazon Fresh Station for visitors to recharge. Entry is on a first-come, first-served basis, requiring only the Amazon.sg app for access.
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Union Gas Holdings Limited, a prominent energy provider in Singapore, has modernised its IT infrastructure by partnering with Lenovo Infrastructure Solutions Group (ISG). This collaboration aims to ensure uninterrupted operations across its liquefied petroleum gas (LPG), compressed natural gas (CNG), and diesel distribution services. The initiative involves deploying Lenovo ThinkSystem servers and storage arrays, supported by 24/7 Premier Support and advanced data protection services.

The decision to upgrade was driven by the need to replace Union Gas Holdings’ ageing infrastructure, which was limiting scalability and reliability. The new Lenovo setup promises enhanced performance and scalability, crucial for the company’s mission-critical workloads. “Union Gas Holdings plays a vital role in powering Singapore’s energy needs, and we’re proud to support their transformation with Lenovo’s reliable, scalable infrastructure,” said Kumar Mitra, Executive Director of Infrastructure Solutions Group at Lenovo.

The infrastructure overhaul includes Lenovo ThinkSystem servers for production and backup, alongside high-performance solid-state drives. This ensures the company can meet increasing business demands with agility. Additionally, Lenovo Premier Support for Data Centres offers 24/7 technical support and a four-hour onsite response, alongside the Keep Your Drive (KYD) service for improved data security compliance.

Stanley Wong, Head of IT at Union Gas Holdings, praised Lenovo’s infrastructure and customer service, stating, “Lenovo’s servers have become the cornerstone of our operations. Their robust architecture and high performance enable us to handle demanding workloads effortlessly.”

This transformation underscores the importance of resilient IT systems in supporting critical public services, ensuring Union Gas Holdings can continue to deliver energy reliably and efficiently across Singapore.
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Alibaba Cloud has announced the launch of new data centres in Malaysia and the Philippines, alongside its first AI Global Competency Centre in Singapore, as part of its 10th anniversary celebrations in the city-state. The announcements were made at the Alibaba Cloud Global Summit in Singapore, which gathered over 500 leaders from various sectors to discuss the future of AI and cloud computing.

The new data centres aim to meet the increasing demand for cloud and AI services across Southeast Asia. The third data centre in Malaysia opened on 1 July, whilst the second in the Philippines is set to open in October. These expansions follow earlier investments in Thailand, Mexico, and South Korea, ensuring Alibaba Cloud can provide secure and scalable services globally.

The AI Global Competency Centre in Singapore is designed to support over 5,000 businesses and 100,000 developers, fostering enterprise AI innovation and talent development. It will serve as a collaborative hub, bringing together more than 1,000 companies and startups to develop next-generation AI solutions. The centre will also introduce AI agents across industries such as finance, healthcare, and logistics.

Selina Yuan, President of International Business at Alibaba Cloud Intelligence, highlighted Singapore’s role as an innovation centre and gateway to the region’s digital economy. “We reaffirm our commitment to empowering businesses of all sizes and verticals whilst advancing cutting-edge AI innovations,” she said.

Alibaba Cloud also revealed new cloud products, including upgrades to its Infrastructure as a Service (IaaS) and Platform as a Service (PaaS), to enhance AI development. Additionally, a global study on green AI adoption was presented, revealing a growing awareness but also significant challenges in implementation.
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Grab has officially launched its first fleet of GrabCabs in Singapore, marking the first new taxi operator in the city-state in seven years. The fleet, consisting of eco-friendly vehicles such as the Toyota Prius and Hyundai Kona, aims to enhance ride availability and improve commuter experiences. This initiative complements the existing private-hire vehicle fleet, providing reliable and convenient ride options for all, including those without access to smartphones.

The GrabCabs are equipped with advanced technologies, including AI-powered devices that monitor driving behaviour and road conditions, promoting safer driving. An integrated mobile data terminal ensures fare accuracy by syncing trip fares directly to the driver’s app and payment terminal. All drivers have undergone rigorous screening to ensure high standards of safety and professionalism.

GrabCab fares start from $4.60, aligning with the prevailing taxi industry rates. To celebrate the launch, Grab is offering a giveaway where participants can win a $20 Grab ride voucher by posting a photo of a GrabCab on Instagram Stories.

In addition to enhancing commuter experiences, GrabCab introduces several benefits for drivers, such as lower operating costs, improved safety tools, and industry-first perks like medical leave and instant payout options. “By offering this level of support, we’re not only helping individual drivers but also raising the bar for the entire taxi industry,” said Yee Wee Tang, Group Managing Director of Operations at Grab.

Victor Sim, Director of GrabRentals, highlighted the opportunity to modernise the taxi experience, making it a sustainable career choice. Kevin Heng, one of the first GrabCab drivers, expressed satisfaction with the new benefits, stating, “The medical coverage GrabCab offers is a huge relief.”

The introduction of GrabCabs signifies a significant step in modernising Singapore’s transport landscape, with a focus on sustainability and driver support.
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