Industry News

JLL has announced the sale of the freehold property at 300/300A Pasir Panjang Road, a site that has housed the Norwegian Seamen’s Mission since 1977. The 48,774 sq ft property, located in Singapore’s District 5, is listed with a guide price of S$70m. It offers a unique opportunity for redevelopment into a 63-unit boutique residential project, capitalising on its elevated position and proximity to the Greater Southern Waterfront.

The site, which is zoned Residential under the Master Plan 2025, boasts a gross plot ratio of 1.4. Its strategic location offers panoramic views of Kent Ridge Park and the Greater Southern Waterfront, making it an attractive proposition for developers and high-net-worth individuals. Nicholas Ng, Head of Land and Collective Sales at JLL Singapore, highlighted the site’s potential, stating, “The combination of its Norwegian Seamen’s Mission heritage, elevated hilltop terrain, and positioning alongside the Greater Southern Waterfront creates a rare opportunity to craft a bespoke, low-density residential development.”

The property’s location offers excellent connectivity, being a short walk from Haw Par Villa MRT Station and close to major educational and commercial hubs. The ongoing transformation of the Greater Southern Waterfront is expected to drive long-term capital appreciation and rental demand in the area.

The Expression of Interest exercise for the site will close on 15 September 2026. This sale comes as the region undergoes significant state-led urban renewal, promising a vibrant future for the area.

Markel Insurance has announced the appointment of Abbas Choker as Chief Financial Officer (CFO) for the Asia Pacific region, effective immediately. Based in Singapore, Choker will lead Markel’s finance operations across the region, supporting the company’s expansion efforts. He will report to Sucheng Chang, Managing Director, Asia Pacific, and collaborate with Andy Davies, Chief Financial Officer, International.

Choker brings over 20 years of experience in the insurance industry, having previously served as Regional Head of Financial Planning and Analysis at AIG. His extensive experience in finance leadership roles across Asia Pacific, including Australia and various Asian markets, positions him well to drive Markel’s commercial success and sustainable financial performance. His Arabic language skills will also aid Markel’s business in the Middle East and North Africa.

Sucheng Chang highlighted the strategic importance of the Asia Pacific region, stating, “Asia Pacific represents one of the most compelling growth opportunities in speciality insurance globally.” Chang expressed confidence in Choker’s ability to contribute to Markel’s ambitions in the region.

Andy Davies welcomed Choker, emphasising the importance of empowering regional finance leaders to support Markel’s international growth. “Abbas will play a key role in ensuring we have the financial capabilities, governance and insights required to capitalise on the market opportunity,” Davies said.

Markel Insurance, part of Markel Group Inc., is a global speciality insurer known for its people-first approach and deep relationships with clients and brokers.

Singapore Airlines (SIA) has been recognised as Singapore’s most attractive employer for 2026, according to Randstad’s annual Employer Brand Research. The survey, which involved 2,500 respondents based in Singapore, highlighted SIA’s strong reputation, innovative use of technology, and high-quality leadership as key factors in its top ranking.

David Blasco, Country Director at Randstad Singapore, emphasised the importance of aligning a brand with credibility and innovation to attract top talent. “Singapore Airlines exemplifies this by aligning its brand with credibility, innovation, and clear leadership, which resonates deeply with the talent they wish to attract and retain,” he stated.

SIA’s commitment to innovation is evident in its recent announcement of a S$1.1b programme to upgrade its long-haul cabin products and introduce Starlink in-flight Wi-Fi connectivity across its fleet. Vanessa Ng, Senior Vice President of Human Resources at SIA, expressed gratitude for the recognition, stating, “We are honoured to be recognised by Randstad as Singapore’s Most Attractive Employer. Building on our strong foundation, we will continue to promote a culture of innovation and invest in learning and development opportunities.”

The 2026 Randstad Employer Brand Awards also saw Changi Airport Group and DBS securing the second and third spots, respectively. The life sciences sector emerged as the most attractive industry, with a score of 75.6 out of 100.

As professionals in Singapore increasingly prioritise career progression and equal opportunities, companies are urged to adapt their employer branding strategies to meet evolving expectations. The comprehensive research by Randstad, conducted globally with over 170,000 respondents, underscores the need for organisations to offer more than just competitive salaries to attract and retain talent.

Singapore Polytechnic (SP) has announced its role as the founding training partner for AutomationSG’s Trusted Industrial AI-Ready (TIA-Ready) Framework, aimed at helping companies adopt Industrial AI safely and responsibly. This framework, launched at the Automation SolutionGO! x Regional Industry Networking Conference 2026, provides a structured approach for companies to assess AI risks and implement governance.

The TIA-Ready Framework, Singapore’s first industry-owned AI readiness framework, offers a practical pathway for businesses to integrate AI into industrial settings such as automation and manufacturing. It is benchmarked against international standards like ISO/IEC 42001, helping companies manage risks and build evidence for responsible AI deployment. SP’s Principal and CEO, Soh Wai Wah, emphasised the importance of equipping the workforce with the necessary skills to thrive in an AI-driven economy.

In addition to the framework, SP announced a new Industrial AI and Governance Literacy programme set to launch in October 2026, alongside nine strategic partnerships. These collaborations, with organisations like Dassault Systèmes and GlobalFoundries, aim to enhance talent pipelines and support digital transformation across various sectors.

The conference also featured a career fair, organised in collaboration with NTUC’s Employment and Employability Institute, offering over 1,300 industry vacancies. SP’s initiatives reflect its commitment to fostering responsible technology adoption and strengthening industry capabilities, ensuring that both students and professionals are prepared for future growth in an AI-centric world.

iWOW Technology has successfully raised S$15m through a fully subscribed placement of 66,667,000 new ordinary shares at S$0.225 each. The funds will be used to expand the company’s Clinical Nutrition manufacturing capacity, support overseas expansion, and invest in research and development across its AgeTech, Clinical Nutrition, and Internet of Things (IoT) businesses.

The placement saw strong participation from institutional investors, including those under Singapore’s Equity Market Development Programme, as well as strategic healthcare investors. Notable participants include Amova Asset Management, Areca Capital Sdn. Bhd., and Tokio Marine Life Insurance Singapore Pte. Ltd., among others. This broadens and strengthens iWOW’s institutional shareholder base.

Soo Kee Wee, substantial shareholder and Non-Executive Chairman of iWOW Technology, expressed his support for the placement, stating, “I fully support this Placement and am delighted to welcome a high-quality group of institutional and strategic investors who share our long-term vision and confidence in our growth strategy.” He added that the capital raised will accelerate the company’s growth strategy and create lasting value for all shareholders.

iWOW, known for its integrated wireless IoT solutions, aims to leverage the funds to scale its integrated solutions and position itself as a leading player in the longevity economy. The company envisions a smarter, greener, and safer world through innovations in wireless technology.

The successful placement marks a significant step in iWOW’s growth journey, with the company poised to execute its ambitious plans and expand its market presence.

The competition for Singapore’s prime real estate assets is heating up as improved liquidity and pricing clarity draw both buyers and sellers back to the market. According to Colliers’ latest Investment Market Insights report, investment sales reached S$15.6b in the second quarter of 2026, bringing the total for the first half of the year to over S$32b. This surge is driven by a diverse range of opportunities across commercial, residential, hospitality, and industrial sectors.

Commercial properties continue to dominate the market, with significant transactions such as the S$880m collective sale of Loyang Valley and the S$360m sale of The Robertson House by The Crest Collection. The industrial sector also saw notable activity, including the S$322m sale of a non-JTC industrial site for logistics redevelopment. Terry Wong, Head of Capital Markets & Investment Services at Colliers Singapore, noted, “The market is no longer short of capital; it’s short of opportunities that genuinely stand out.”

Colliers forecasts that total investment sales could exceed S$40b in 2026, potentially setting a new record since 2007. Investors are increasingly targeting assets with clear leasing fundamentals and redevelopment potential. Catherine He, Head of Research at Colliers Singapore, stated, “We expect these trends to support investment activity through the remainder of 2026 and into 2027.”

As the market evolves, investors are broadening their search beyond traditional sectors to identify opportunities that promise long-term value and income growth. This shift underscores the growing confidence in Singapore’s real estate market and its appeal to both domestic and international capital.

Frasers Property Singapore has announced strategic partnerships with NTUC Link and Shell Singapore to enhance its Frasers Experience (FRx) rewards programme. The collaborations, formalised through Memorandums of Understanding at the Retail Spark! 2026 event, aim to connect FRx with Link Rewards and Shell GO+, expanding the rewards ecosystem across over 2,000 retail touchpoints.

The partnerships are set to engage approximately 4 million memberships, including over 1 million FRx members and 2.4 million Link Rewards members. The collaboration with NTUC Link will integrate FRx with Link Rewards, offering access to grocery, dining, retail, and lifestyle experiences across nine Frasers Property malls. This initiative leverages the co-location advantage of Frasers Property’s malls and FairPrice Group’s extensive network.

Separately, the partnership with Shell will explore integrating FRx with Shell GO+, focusing on EV charging and retail experiences. This includes deploying Shell Recharge EV charging solutions at selected malls and offering exclusive member benefits such as EV charging privileges and complimentary parking.

Adrian Tan, Managing Director of Retail at Frasers Property Singapore, stated, “Through strategic partnerships with NTUC Link and Shell, we are extending the value of our FRx ecosystem beyond retail into areas such as daily essentials and mobility.”

The benefits for FRx and Link Rewards members are expected to roll out from the first quarter of 2027, with Shell-related initiatives commencing later in the year. These collaborations align with Frasers Property’s community-first retail strategy, aiming to enhance accessibility and sustainability across its portfolio.

KPay Group, a rapidly expanding fintech company, has announced that its Singapore subsidiary, KPay Merchant Service (Singapore) Pte. Ltd., has secured In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence. This approval, under the Payment Services Act 2019, marks a significant milestone in KPay’s regulatory strategy since establishing its Singapore operations in 2022.

The IPA is a crucial step for KPay, which has grown to serve over 10,000 local small and medium-sized enterprise (SME) merchants. It validates the company’s strategic decision to develop its regulatory and operational capabilities from Singapore, setting a disciplined foundation for expansion into other highly regulated markets. The MPI licence, once fully approved, will allow KPay to offer a broader range of regulated payment services, including merchant acquisition and cross-border money transfers.

KPay’s commitment to local businesses is evident in its holistic commerce ecosystem, which includes in-store payment systems, AI-powered dashboards, and real-time transaction analytics. The company emphasises building strong local teams and understanding the needs of local merchants, as highlighted by CEO Davis Chan: “Trust cannot be exported—it has to be earned, market by market.”

Keith Chen, General Manager of Singapore, expressed gratitude for the community’s trust and highlighted the importance of the MAS’s forward-looking regulatory environment. KPay aims to maintain high standards of compliance and governance, aligning with Singapore’s digital economy ambitions. As KPay continues its expansion across Asia Pacific, Singapore remains the blueprint guiding its regional direction.

Adyen, a leading global financial technology platform, has released its Adyen Index 2026 Singapore Retail Report, highlighting significant shifts in consumer spending habits and the growing role of digital shopping in Singapore. The report reveals that 42% of Singaporeans are spending more than they did a year ago, with Gen Z and Millennials leading the charge at 50% and 51% respectively. This increase is partly attributed to rising living costs and a desire to “enjoy life more.”

The report also underscores the growing adoption of artificial intelligence (AI) in shopping, with 72% of Singaporeans having used AI assistants. Gen Z and Millennials are particularly receptive, with 85% and 80% using AI, making them prime audiences for AI-driven commerce. Nearly half of Singapore consumers seek a seamless shopping experience across online and in-store channels, with 43% desiring real-time product visibility.

Retailers in Singapore are also embracing AI, with 99% having implemented it in some capacity. However, 95% face barriers to wider adoption. Payment errors at checkout significantly impact consumer perception, with 59% reporting a negative impact on brand trust.

Ben Wong, General Manager of Southeast Asia and Hong Kong at Adyen, emphasised the importance of adapting to these changes, stating that the report offers “pivotal insights on industry trends” to help brands stay relevant. As Singapore’s retail landscape evolves, the integration of AI and digital solutions appears crucial for future success.

AutomationSG has launched the Trusted Industrial AI Ready (TIA-Ready) Framework, a new initiative aimed at guiding companies in the responsible deployment of artificial intelligence within industrial settings. Announced at the Automation SolutionGO! x Regional Industry Networking Conference 2026, the framework offers a practical approach for companies to manage AI use cases, assess risks, and ensure accountability.

The TIA-Ready Framework is designed to help companies in industrial automation, robotics, and manufacturing sectors begin with a specific AI use case. It provides a structured pathway to assess risks, introduce controls, and build evidence for responsible AI deployment. Benchmarked against the international standard ISO/IEC 42001, it is not a certification scheme but a readiness and recognition pathway.

The framework’s launch coincides with Singapore’s broader efforts to enhance AI governance. Recent initiatives by the Infocomm Media Development Authority, including guidelines for generative AI chatbots and privacy-enhancing technologies, underscore the importance of connecting AI adoption with governance and data protection.

AutomationSG’s CEO, Saw Biing Huei, emphasised the importance of management decisions in AI deployment, stating, “Trusted AI does not start with the dataset or the test result. It starts when management decides what AI should be used for, what it must not be used for, whose decisions it may influence and what risks the organisation is willing to accept.”

The TIA-Ready Framework has undergone validation with SMEs like JM Vistec System and CADVision Systems. Singapore Polytechnic will partner with AutomationSG to offer training programmes starting in October 2026, focusing on AI risks and responsible use.

AutomationSG plans to collaborate with industry partners to support the framework’s implementation and will periodically review it as AI governance evolves.