Industry News

DKSH Healthcare has announced the approval and launch of Colpofix, a vaginal spray gel medical device, in Singapore. This development provides women with an additional option for managing cervical lesions associated with human papillomavirus (HPV). The device is designed to prevent and treat cervical lesions, offering a proactive approach for women affected by HPV.

HPV is a prevalent viral infection, affecting one in 10 women in Singapore. Whilst most cases resolve naturally within one to two years, persistent infections can lead to cervical cell changes requiring medical attention. Colpofix acts locally on the cervico-vaginal mucosa, aiding in the control of physiological conditions and supporting the regression of low-grade cervical lesions.

Clinical studies have shown promising results, with Colpofix demonstrating a 95.7% regression of HPV-CIN1 lesions. The gel forms a protective film over the cervico-vaginal mucosa, promoting hydration and re-epithelialisation, whilst also helping to restore the vaginal microbiota. An ergonomic cannula ensures accurate application.

Reuben Ong, Vice President of DKSH Singapore’s Business Unit Healthcare, emphasised the company’s commitment to patient-centric solutions, stating, “Bringing Colpofix to Singapore is part of that commitment, giving women and their healthcare professionals a proactive option to consider together.”

Colpofix is now available by prescription in Singapore. Women interested in the product are advised to consult healthcare professionals to determine its suitability for their needs.

The Competition and Consumer Commission of Singapore (CCS) is calling for public feedback on the proposed acquisition of NatSteel Holdings Pte Ltd by Zenith Steel Singapore Pte Ltd. The application for this acquisition was accepted by CCS on 15 September 2026, and the commission is now assessing whether the deal would contravene section 54 of the Competition Act 2004.

Zenith Singapore, a subsidiary of Zenith Steel Group Company Limited, operates through its subsidiaries Super Steel Pte Ltd and Super Bend Pte Ltd, focusing on processing and distributing reinforcing steel products for the construction industry. NatSteel, with a presence across Southeast Asia, also provides steel products and solutions, including metal recycling, to the construction sector. Both companies are involved in supplying steel couplers, cut and bend reinforcing steel bars, prefabricated cages, and reinforcing steel bars in Singapore.

The public consultation period runs from 21 September 2026 to 5:00 pm on 2 October 2026. CCS is particularly interested in opinions regarding how the acquisition might affect competition within the relevant markets. Feedback can be submitted via an online form available on the CCS website or by email. Participants are advised to provide a non-confidential version of their submissions if they contain sensitive information.

Further details about the public consultation can be found on the CCS website under the Public Consultation section.

Bank of Singapore has unveiled its Legacy of Giving platform, a pioneering initiative that provides clients access to a bespoke donor-advised fund (DAF) through partnerships with the Community Foundation of Singapore (CFS) and TT Foundation Advisers (TTFA). This marks the first collaboration of its kind in Singapore between a private bank and independent philanthropic organisations, allowing clients to tailor their investment strategies for charitable purposes.

The bespoke DAF arrangement is a significant departure from traditional models, which typically restrict high- and ultra-high net-worth individuals to pre-set investment solutions. Instead, clients can now actively shape their fund’s investment approach, potentially enhancing their assets for charitable giving. This innovative platform is expected to meet the rising demand for DAFs in Singapore, which are projected to increase fivefold between 2025 and 2030, according to a report by the Wealth Management Institute.

Jason Moo, CEO of Bank of Singapore, highlighted the growing trend of wealth accumulation in Asia and the corresponding desire to create lasting impact through philanthropy. “Our Legacy of Giving platform offers a professionally managed avenue for clients to achieve meaningful impact, supported by the expertise of CFS and TTFA,” he stated.

Paul Tan, CEO of CFS, emphasised the foundation’s role in providing deep knowledge of the local charity ecosystem, enabling informed giving decisions. Meanwhile, Dickson Lim, Head of TTFA, noted the partnership’s potential to unlock greater impact through strategic philanthropy advisory services.

This platform not only caters to those seeking bespoke solutions but also offers straightforward structures for clients preferring pre-approved portfolios or grant-making DAFs without investment components. As more wealthy families embrace philanthropy, the Legacy of Giving platform positions Bank of Singapore as a leader in facilitating impactful charitable contributions.

Singapore-based payment institution dtcpay has successfully extended its Series A funding round to US$25m, with Japan’s SBI Group joining as a strategic investor. Initially led by Vertex Ventures Southeast Asia and India in April 2026, the round also saw participation from Genedant Capital and existing investor Kwee Liong Tek.

The investment underscores confidence in dtcpay’s mission to integrate stablecoins into mainstream financial services. Founded by Alice Liu and Band Zhao, dtcpay facilitates seamless transactions between digital assets and traditional finance, aiming to reduce the operational friction associated with cross-border transfers. Its real-time swap engine allows for efficient settlement across stablecoin and fiat currencies.

dtcpay has been a pioneer in stablecoin payments, launching a Digital Payment Token point-of-sale solution and partnering with Visa to offer a stablecoin-to-fiat Visa Infinite card. This card enables multi-currency spending at over 150 million merchant locations worldwide. The company has also collaborated with BNB Chain to promote stablecoin adoption in real-world commerce.

With the new funding, dtcpay plans to expand its product offerings and merchant network, focusing on scaling its stablecoin payment infrastructure. The company holds significant regulatory licences, including from the Monetary Authority of Singapore and an Electronic Money Institution licence in Luxembourg, allowing it to operate across key markets.

Alice Liu, CEO of dtcpay, stated, “We raised this round to fundamentally change how money moves across borders.” Band Zhao, Group Chairman, added that the company is set to deepen partnerships with global financial institutions and expand into new regulated markets.

Alibaba’s Amap, a location-based services platform, and the Singapore Tourism Board (STB) have unveiled “Singapore Street Stars,” a curated set of city guides aimed at Chinese tourists. The guides, launched on 18 September 2026, feature 104 attractions, neighbourhoods, and lifestyle spots across Singapore, offering a blend of iconic landmarks and hidden gems. The initiative is designed to cater to the travel preferences of Chinese visitors, as highlighted by Andrew Phua, Chief Representative and Executive Director Greater China at STB, who noted that the guides reflect “authentic recommendations” based on user preferences.

This collaboration marks the first international edition of Amap’s Street Stars, following a memorandum of understanding signed in Beijing on 2 June. The partnership aims to enhance travel discovery and planning for Chinese tourists, addressing the rising demand for Singapore travel information. During the 2026 summer travel season, Amap reported a 523% increase in daily searches for Singapore-related content, with significant spikes in queries for attractions, shopping, and dining.

The seven themed rankings include “Photo-Perfect Spots,” “Where Family Fun Begins,” and “After-Dark Adventures,” among others. Featured locations range from Gardens by the Bay and Merlion Park to local favourites like Joo Chiat Road and Maxwell Food Centre. Additionally, Amap is piloting “Flying Street View,” offering 360-degree panoramic previews of selected attractions, enhancing trip planning for travellers.

Amap’s app supports Chinese mobile payment methods and offers translation features, facilitating seamless travel experiences. The platform plans to promote themed content during peak travel seasons, such as the Golden Week holiday, providing Singapore businesses with increased visibility among Chinese tourists. Liu Li, General Manager of Amap’s Information Platform Business, stated, “We will continue to explore localised rankings and services suited to different countries and regions.”

Asian financial institutions are redefining their approach to artificial intelligence (AI), focusing on aiding small and midsize businesses (SMBs) in adapting to evolving markets. FOMO Pay and Google are at the forefront of this shift, working together to introduce autonomous agent-initiated payments to Asia’s SMBs. This strategic pivot is driven by the need to move beyond traditional IT projects and embrace a decentralised culture that prioritises customer needs and rapid business adaptation.

The collaboration between FOMO Pay and Google aims to revolutionise payment systems for SMBs, enabling AI agents to autonomously manage transactions. In March 2026, FOMO Pay launched the FOMO AI Soundbox in Singapore, a device that accepts multiple payment methods, including cards, PayNow, e-wallets, and stablecoins. This innovation is supported by a merchant portal that analyses transaction patterns and an AI layer that provides business insights without the need for complex systems.

FOMO Pay has also adopted Google’s Agent Payment Protocol (AP2), an open standard for autonomous payments. This protocol allows AI agents to monitor inventory, reorder supplies, and complete payments with minimal human intervention. The system ensures secure transactions through cryptographically signed mandates and user-approved authorisations, providing a robust framework for verification and dispute resolution.

This approach highlights a significant shift in AI strategy, focusing on customer-centric solutions and the needs of the new economy. As AI adoption continues to grow in Asia, the region sets an example for global organisations on leveraging AI for meaningful business transformation.

Rental transactions for both condominiums and Housing Development Board (HDB) flats in Singapore saw a decline in August 2026, according to the latest report by 99.co and SRX. The slowdown coincided with the start of the Hungry Ghost Month, a period traditionally associated with reduced property activity, and followed an exceptionally active July.

In the condominium market, rental volumes fell by 13.6% month-on-month, with 8,318 units rented in August compared to 9,627 in July. Despite this decrease, year-on-year volumes were 4.5% higher, and 11.6% above the five-year average for August. Rental prices remained stable overall, with slight increases in the Core Central Region (CCR) and Rest of Central Region (RCR) by 0.7% and 0.6% respectively, whilst the Outside Central Region (OCR) saw a 0.4% decrease.

The HDB rental market also experienced a decline, with volumes dropping by 9.5% month-on-month to 2,805 flats rented in August. However, year-on-year volumes were up by 1.3% and exceeded the five-year average by 1.9%. Rental prices for HDB flats decreased by 0.7% compared to July, with Mature and Non-Mature estates seeing declines of 0.5% and 1% respectively.

Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that the rental supply is becoming more supportive of tenants, with around 13,500 HDB flats expected to reach their Minimum Occupation Period in 2026. This increase in eligible flats could heighten competition among landlords, particularly in areas with a concentration of newly MOP flats.

Looking ahead, rental volumes may continue to fluctuate, but the underlying demand suggests that prices are likely to remain stable or experience modest changes rather than sharp declines.

Lost time, rather than financial loss, is the primary impact of fake or suspicious job opportunities on Singapore jobseekers, according to a recent survey by Indeed. The survey, which involved 1,000 participants, found that 40% of respondents cited wasted time as the most significant personal impact, followed by emotional stress (24%) and lost trust (18%).

The survey highlights that suspicious job opportunities are a common experience, with 72% of respondents encountering at least one fake or suspicious job offer. Notably, 49% reported experiencing this issue multiple times. Shannon Peter Pang, Sales Team Lead at Indeed for Asia, noted, “Job scams are often discussed in terms of money lost, but our findings show the impact on the job search starts much earlier.”

Doubt often arises at the initial recruiter contact, with 39% of respondents questioning the authenticity of a job opportunity at this stage, compared to 27% at the job-posting stage. Confidence in identifying genuine opportunities is mixed; only 21% of respondents felt very confident in their ability to discern authenticity upon first contact with a recruiter.

Clear verification signals, such as official company emails and job postings on the company’s website, were identified by 37% of respondents as confidence builders. Pang emphasised the importance of trust in the hiring process, stating, “Trust is built throughout the hiring process. For employers, something as simple as using official company communication… can give candidates greater confidence.”

The findings underscore the need for employers to foster trust and transparency in their hiring processes to reduce unnecessary doubt and help jobseekers focus on genuine opportunities.

Singlife has expanded its partnership with Salesforce by introducing a General Insurance Email Agent that processes customer enquiries in real time. This AI-driven system provides immediate responses to straightforward queries and directs more complex issues to human agents for personalised assistance. Currently, the Email Agent manages over 20% of customer emails, ensuring timely responses.

The collaboration builds on Singlife’s previous launch of Buddy, an AI agent designed to support customer service executives. Since its introduction, Buddy has reduced the average handling time for enquiries by 30% and halved the training period for new hires from four weeks to two. This efficiency boost has been pivotal in maintaining service levels, especially during periods of increased email traffic.

Looking forward, Singlife aims to transform Buddy into a customer-facing digital agent. This evolution will allow policyholders to interact directly with Buddy across digital platforms, facilitating access to policy details and enabling routine self-service tasks with ease.

These AI solutions are part of Singlife’s strategy to enhance operational efficiency and service quality. By equipping employees with advanced tools, the company aims to provide superior customer support. The ongoing collaboration with Salesforce underscores Singlife’s commitment to leveraging technology for improved customer experiences.

A ransomware attack has compromised the payroll system used by mosques and madrasahs under the Islamic Religious Council of Singapore (MUIS), underscoring the growing threat of cyberattacks exploiting third-party vendors. Adrian Hia, Managing Director for Asia Pacific at Kaspersky, emphasised the broader cybersecurity implications, drawing parallels with a similar incident involving the Singapore Land Authority in July.

Hia noted that both incidents involved threat actors targeting service partners to access sensitive data within critical organisations. “This is a particularly effective technique as cybercriminals recognise that government agencies, critical infrastructure operators or even large enterprises are amongst the most heavily defended organisations from a cybersecurity perspective,” he stated.

The attack highlights the need for an ecosystem-wide approach to cybersecurity, especially as cybercriminals increasingly adopt artificial intelligence to enhance the scale and sophistication of their campaigns. Hia stressed the importance of holding external service providers to the same cybersecurity standards as internal environments to ensure robust cyber hygiene and incident response preparedness.

He concluded that strengthening cyber resilience requires collaboration between government agencies, industry leaders, and cybersecurity experts. “It is only through the continued collaboration between all players in the ecosystem that we can ensure the security of all,” Hia said.

As organisations become more digitally connected, the vulnerabilities in their supply chains are expected to increase, making it crucial for all parties involved to work together to mitigate these risks.