Industry News

Global law firm Linklaters has released its June 2025 Asia Financial Regulatory Update, spotlighting significant legislative changes in Hong Kong and Singapore that are set to reshape the financial landscape. These developments, which include new regulations for stablecoins and corporate governance, are crucial for fintech, banking, and capital markets sectors.

In Hong Kong, the Legislative Council has passed the Stablecoins Bill, establishing a licensing regime for fiat-referenced stablecoin issuers, effective from 1 August 2025. This move aligns with international standards, enhancing the digital asset regulatory framework. Additionally, the Hong Kong Monetary Authority (HKMA) has initiated consultations on stablecoin supervision and anti-money laundering (AML) requirements, with feedback due by 30 June 2025. The HKMA has also provided guidance for banks to implement the revised FX Global Code, focusing on mitigating settlement risk and enhancing transparency.

Meanwhile, Singapore’s Monetary Authority of Singapore (MAS) has announced the formation of a Corporate Governance Advisory Committee to review the Code of Corporate Governance for listed companies. This review aims to bolster corporate governance practices. Furthermore, MAS has proposed amendments to margin requirements for capital market services licence holders and plans to streamline prospectus requirements to broaden investor outreach for initial public offerings (IPOs).

These regulatory updates are pivotal as they aim to align with global standards and address the evolving needs of the financial markets in Asia. As these changes take effect, businesses operating in the region will need to adapt to the new regulatory environment, potentially impacting their operations and compliance strategies.
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Elivity, a leader in wellness solutions, has unveiled a groundbreaking oral spray aimed at combating chronic sleep deprivation in Singapore. With more than 54% of Singaporeans sleeping less than the recommended seven hours a night, the need for effective sleep aids is pressing. Elivity’s new Sleep Regeneration Oral Spray, featuring advanced NANOBOOST technology from Germany, promises to deliver a fast-acting and efficient solution.

The oral spray utilises a unique delivery system that ensures a precise 1mg dose of melatonin and passionflower is absorbed directly through the mouth. This method bypasses digestive acids, which can destroy up to 90% of active ingredients in traditional tablet forms. This innovation is designed to help busy Singaporeans achieve the deep, restorative sleep necessary for improved recovery, cognitive function, and long-term vitality.

Elivity’s introduction of the first science-backed longevity oral sprays to Asia marks a significant step in addressing the sleep challenges faced by many in the region. The company is committed to changing the perception of sleep from a luxury to a necessity, particularly in Singapore’s fast-paced and demanding environment.

The launch of this product highlights the importance of innovative health solutions in urban settings, where lifestyle demands often compromise essential rest. As Elivity continues to expand its offerings, the potential for improved sleep health in Singapore looks promising.
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The Urban Redevelopment Authority (URA) has revealed its Draft Master Plan 2025, outlining Singapore’s development strategy for the next 10 to 15 years. This forward-looking blueprint includes plans to introduce approximately 6,000 new homes in the Greater one-north area, specifically in the Dover-Medway neighbourhood, and 5,000 homes around Mediapolis. Additionally, the Newton and Paterson areas are set to receive 5,000 and 1,000 new dwelling units, respectively.

The plan also highlights the transformation of Bukit Timah Turf City, which is expected to yield 15,000 to 20,000 new homes. This area will feature residential plots, commercial spaces, and amenities such as a school and healthcare facilities. The former Singapore Racecourse site in Kranji is earmarked for 14,000 new homes, whilst Gillman Barracks and a site near the future Keppel MRT station are also set for residential development.

PropNex CEO Ismail Gafoor described the Draft Master Plan 2025 as “bold, forward-looking and exciting,” noting its potential to rejuvenate neighbourhoods and build vibrant communities. He highlighted the zoning changes in areas like Greater one-north and the mixed-use developments planned for Newton and Paterson as key elements that will cater to diverse housing needs and stimulate developer interest.

The plan also includes updates for Pulau Brani, which is designated for sports and recreation, aligning with the Sentosa-Brani Master Plan to enhance leisure and tourism offerings. Overall, the Draft Master Plan 2025 aims to decentralise urban growth, create vibrant work-live-play environments, and maintain Singapore’s status as a globally liveable city.
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Sophos, a global leader in cybersecurity solutions, has unveiled its sixth annual State of Ransomware report, revealing that half of Singaporean companies have opted to pay ransoms to regain access to their data. This figure, although lower than the 63% recorded in 2024, highlights the ongoing struggle businesses face against ransomware attacks.

The report, based on a survey of IT and cybersecurity leaders across 17 countries, shows that whilst 50% of Singaporean companies paid the ransom, only 53% managed to fully recover within a week. This marks a significant decline from the 77% recovery rate seen in 2024. Additionally, 22% of companies took between one to six months to recover, up from 14% the previous year.

Data encryption remains a critical issue, with 53% of ransomware attacks in Singapore resulting in encrypted data, slightly above the global average of 50%. Despite this, all affected organisations managed to recover their data, either by paying the ransom or using backups. However, the use of backups has decreased, with only 46% of companies relying on them, down from 58% in 2024.

On a positive note, the report highlights a decline in both ransom payments and recovery costs. The median ransom payment in Singapore has dropped from $760,000 in 2024 to $365,565 in 2025. Similarly, the average cost of recovery, excluding ransom payments, has decreased from $2.20 million to $1.54 million.

The findings underscore the need for improved cybersecurity measures and negotiation strategies, as Singaporean companies paid a median 94% of the ransom demand, higher than the global average of 85%. As ransomware threats continue to evolve, businesses must enhance their preparedness to mitigate the impact of such attacks.
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The Urban Redevelopment Authority (URA) has released its Draft Master Plan 2025, aiming to elevate housing standards and improve urban landscapes in Singapore. The plan marks a shift from previous frameworks by focusing on the future needs of Singaporeans, including fostering healthier lifestyles, supporting an ageing population, and addressing climate change challenges.

The new Master Plan introduces a diverse array of housing options, allowing residents to choose environments near city centres, schools, or parks. This approach ensures better connectivity with essential amenities, such as schools and healthcare facilities, enhancing convenience and quality of life. The plan also emphasises creating homes with access to sea, river, and park views, whilst preserving heritage buildings and cultural sites.

Significant developments include the expansion of the One-North precinct, where approximately 6,000 public and private homes will be constructed. This expansion aims to attract workers and businesses, supporting industries like biomedical sciences and technology. In the Newton and Orchard Road areas, 5,000 new private residences will be developed, with an integrated development above Orchard MRT station.

The Jurong Innovation District will see a transformation with the introduction of Business-White plots, integrating non-industrial elements and enhancing amenities. This change is expected to attract more businesses and workers, boosting occupancy rates and rental yields.

Changi Airport’s redevelopment as a hub for land, air, and sea transport will rejuvenate Changi Business Park, attracting more tenants. Additionally, a new sub-regional centre in Bishan will decentralise office spaces, encouraging companies to move outside the central business district and increasing housing demand in the area.

These initiatives aim to create a balanced, sustainable living experience for all Singaporeans, regardless of age or budget, whilst improving overall well-being and convenience.
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Le Dîner en Blanc, the world-renowned white-on-white pop-up soirée, is set to make a grand return to Singapore on 6 September 2025 after a decade-long hiatus. This year’s event marks a historic collaboration with luxury champagne brand Moët & Chandon, a first in the event’s 35-year history. The soirée, strategically timed between Singapore’s National Day and the Formula 1 Grand Prix, promises an evening of elegance and shared artistry.

Chiang Yee, appointed by the event’s founder Sandy Safi, will lead this landmark edition. “This isn’t just a return; it’s a renaissance,” said Yee, highlighting the event’s aim to reimagine timeless elegance through a contemporary lens. Supporting Yee are Dr Clemen Chiang, who introduced the event to Asia in 2012, and Nicole Yee, founder of women’s platform CozyCot, who will oversee fashion and beauty partnerships.

Sandy Safi, CEO of Le Dîner en Blanc International, expressed pride in the Singapore edition, noting its significance in Asia. Julian Quintero, General Manager of Moët Hennessy Diageo Singapore, added, “This collaboration beautifully marries the art de vivre of France with our commitment to curating elevated unforgettable moments.”

The Fullerton Hotel Singapore, a five-star luxury hotel steeped in heritage, will serve as a backdrop to the event’s contemporary flair. The guest list will expand to 3,000 attendees, maintaining the event’s traditions of secrecy, equality, and shared artistry. Further announcements, including participating maisons and special guest appearances, will be revealed ahead of the official media launch in July.
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Singapore stocks continue to be a cornerstone for retail investors, with more than 70% of them intending to maintain or increase their exposure, as revealed by Moomoo Singapore’s 2H2025 Retail Investor Sentiment Survey. Conducted in April 2025 with nearly 1,500 participants, the survey highlights the strategic importance of Singapore stocks amidst ongoing macroeconomic challenges, inflation, and geopolitical uncertainties.

The survey underscores the confidence investors have in Singapore’s economic fundamentals and policy environment. Gavin Chia, CEO of Moomoo Singapore, noted, “Singapore’s stock market continues to be a pillar of stability for local investors.” Conservative investors, in particular, view the local market as a defensive anchor, prioritising capital preservation over aggressive growth.

Whilst Singapore remains a safe haven, some investors are exploring opportunities abroad. Four in 10 investors are shifting their focus to markets like Hong Kong, seeking potential short-term gains. Despite this, only 30% of respondents expressed optimism about the global market outlook for the latter half of 2025, indicating a cautious approach.

The survey also highlights the growing role of artificial intelligence (AI) in investment strategies. Over 70% of affluent investors with portfolios exceeding $200,000 utilise AI tools for portfolio management. High-net-worth individuals, in particular, show a strong trust in AI-generated recommendations, with half of them relying on these tools for decision-making.

As retail investors adapt to technological advancements, Moomoo Singapore aims to support this shift by providing actionable insights and educational tools, ensuring investors remain resilient in a rapidly changing world.
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The Singapore Department of Statistics has reported a mixed performance in the Services Producer Price Indices for the first quarter of 2025.

Notably, the indices showed an increase for several sectors, including Postal and Courier Services, which rose by 4%, Telecommunications Services by 0.5%, Computer Consultancy and Information Services by 0.4%, and both Cargo Handling and Warehousing & Storage by 0.3%.

Conversely, the indices fell for Sea Freight Transport by 7.3%, Freight Forwarding by 2.8%, and Accounting Services by 0.7%.

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Mitsubishi Heavy Industries, Ltd. (MHI) has been awarded a contract to refurbish the Automated People Mover (APM) system at Singapore Changi Airport. The project, managed through MHI’s Asia Regional Office in Singapore, involves upgrading critical systems such as signals, communications, and tracks to enhance safety and operational efficiency. The refurbishment is scheduled for completion in 2030, with efforts to maintain uninterrupted service during the upgrade.

The APM system, originally delivered by MHI in 2007, connects the airport’s three terminals over a distance of approximately 6,400 metres. Since its installation, MHI has worked to boost the system’s transport capacity by increasing the number of vehicles and has consistently provided operation and maintenance services under contract. The current refurbishment aims to further improve the comfort and reliability of travel within one of Southeast Asia’s leading hub airports.

MHI emphasises that the renewal work will be conducted with minimal disruption to existing services. “MHI will draw on the know-how and experience it has cultivated through previous construction projects to provide users of Singapore Changi Airport with a more comfortable and reliable way to travel within the airport,” the company stated.

This contract underscores MHI’s ongoing commitment to enhancing transportation systems globally, ensuring the safe and efficient movement of people and goods. The project is expected to significantly contribute to the operational capabilities of Singapore Changi Airport, reinforcing its status as a major hub in the region.
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Huttons Asia has shared insights into Singapore’s Draft Master Plan 2025, highlighting that 14% of the land will be designated for residential purposes. The plan includes developing areas around MRT stations to bring work closer to homes and reduce the need for extensive road infrastructure. CEO of Huttons Asia, Mark Yip, noted that whilst height restrictions near Changi Airport may be relaxed, there are no changes in plot ratios for Tampines and Pasir Ris.

The plan also earmarks several areas for Housing Development Board (HDB) flats, including the former Marina Bay Golf Course, Greater Southern Waterfront, Mount Pleasant, Toa Payoh West, and the former Turf Club. These locations are expected to be in high demand, potentially stabilising resale prices in the short term but likely increasing in value over time due to their prime locations.

Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia, mentioned that existing golf courses like Warren Country Club and Orchid Country Club will be converted into residential developments, with the latter potentially housing over 10,000 homes. The Marina Bay Golf Course has also been rezoned for residential use, promising exciting waterfront homes.

Additionally, the Keppel Terminal and former Turf Club have been rezoned for residential development, with plans for 20,000 homes at Keppel Terminal and up to 20,000 homes at the Turf Club. The rezoning of land around Newton MRT station and Orchard MRT interchange to “white” allows for flexible development, although high additional buyer’s stamp duty may deter foreign investment.

These developments aim to enhance Singapore’s urban landscape, providing more housing options and supporting economic growth through efficient land use.
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