Industry News

Bridge Data Centres (BDC), a Singapore-based hyperscale data centre provider, and EcoCeres, a leader in renewable fuels, have completed their first Hydrotreated Vegetable Oil (HVO) powered backup fuel pilot in the Asia Pacific region. HVO, derived from 100% waste-based feedstock, serves as a renewable substitute for fossil diesel, cutting greenhouse gas emissions by up to 90% without requiring modifications to existing generators.

The pilot, conducted at BDC’s data centre campuses, tested emergency backup power scenarios, including generator start-up and sustained operations. All performance and emissions targets were met, prompting BDC to plan further deployment of HVO solutions across its Asia Pacific sites.

Eric Fan, CEO of BDC, stated, “Sustainability is core to BDC’s strategy. As AI workloads scale, we are committed to innovative clean energy solutions that reduce our carbon footprint whilst meeting performance needs.” Matti Lievonen, CEO of EcoCeres, added, “Decarbonising data centres is urgent. This pilot shows HVO can meet reliability and performance standards, offering a practical way to reduce emissions.”

Following a Memorandum of Understanding, BDC and EcoCeres will continue to develop standards for broader HVO adoption in the data centre industry. This initiative is part of BDC’s broader strategy to advance clean energy solutions, including developing Singapore’s first floating hydrogen power generation solution for AI data centres.

Swiss-founded BE WTR is making significant strides in Southeast Asia by acquiring Porla’s operations in Singapore and Hong Kong, alongside forming a new licensing partnership in Thailand. This expansion, announced on 12 May 2026, aims to redefine the premium water market in the region’s hospitality and F&B sectors by promoting locally bottled water as a sustainable alternative to imported brands.

The acquisition doubles BE WTR’s presence in Singapore and integrates Porla’s existing operations, which have served high-end clients like Raffles Hotel Singapore and Four Seasons Hotel Singapore since 2015. This move brings over 300 corporate clients under BE WTR’s management, enhancing its market footprint and profitability in Singapore.

BE WTR’s CEO, Mike Hecker, emphasised the environmental and economic benefits of locally sourced water, stating, “Shipping a glass bottle across the globe only to use it once is no longer defensible environmentally or economically.” The company’s ultra-filtration technology ensures high-quality water by removing pollutants and microplastics whilst maintaining essential minerals.

Peter Ulrich, Director of Porla, expressed enthusiasm for the partnership, highlighting BE WTR’s commitment to quality and sustainability. The collaboration in Thailand is expected to meet the growing demand for premium, sustainable water solutions in the region’s expanding hospitality market.

BE WTR’s expansion aligns with its mission to challenge the status quo of the bottled water industry, offering a fully circular system where bottles are reused over 300 times. This approach not only reduces environmental impact but also provides cost efficiencies for F&B operators.

Singapore’s Health Sciences Authority (HSA) and China’s National Medical Products Administration (NMPA) have signed a Memorandum of Understanding (MOU) on 11 May in Beijing to enhance their regulatory collaboration on health products. This renewed agreement aims to expedite access to innovative health products for patients in both countries by expanding the scope of cooperation to include emerging areas such as cell, tissue, and gene therapy products.

The expanded partnership is set to strengthen regulatory convergence and foster industry engagement, potentially streamlining the development and market access for new therapeutics and medical technologies. Both agencies will continue to share regulations, information, and best practices, and will collaborate on inspections and testing to combat counterfeit and substandard health products.

The MOU, signed by Adjunct Professor Dr Raymond Chua, CEO of HSA, and Huang Guo, Commissioner of NMPA, builds on a 2021 agreement that covered chemical drugs, biological products, and medical devices. This renewed focus on cell, tissue, and gene therapy products reflects the rapid growth in medical innovation and aims to enhance regulatory capabilities and responsiveness whilst maintaining safety and efficacy standards.

HSA and NMPA have a longstanding relationship, dating back to their first MOU in 2003. This collaboration reinforces Singapore’s status as a global regulatory hub for healthcare innovation and opens new opportunities for industry and researchers. Currently, HSA has approved approximately 35 medicines and over 1,000 medical devices manufactured in China.

Dr Raymond Chua stated, “This renewed MOU reflects the strong and enduring partnership between HSA and NMPA and our shared commitment to enabling innovation whilst safeguarding public health.”

Longbridge Securities, the AI-powered online brokerage, has announced the opening of its first physical location in Singapore, Longbridge Cafe, set to launch in Q3 2026. Situated at Guoco Tower in Tanjong Pagar, this move signifies a strategic shift for Longbridge from being solely an app-based service to establishing a tangible presence in the city.

The cafe aims to transform the relationship between Longbridge and its users by providing a physical space for interaction. “A trading app’s relationship with its user typically ends the moment an order is confirmed,” the company stated. The cafe will serve as a venue for investors to engage in meaningful conversations, both with each other and with Longbridge representatives. This includes hosting key opinion leaders, analysts, and industry practitioners for in-depth discussions.

Longbridge Cafe is designed around three key types of conversations: investor-to-investor, market voices to investors, and the Longbridge team to its users. This approach aims to foster a community where investors can share experiences and insights, making investing a more collaborative endeavour.

Located at one of Singapore’s most connected commercial addresses, the cafe is positioned to become a part of the daily lives of Singaporean investors. Gavin Chia, CEO of Longbridge Southeast Asia, expressed hope that this initiative will make financial services in Singapore feel “a little more human.” The cafe is part of Longbridge’s long-term commitment to the region, following the success of its first cafe in Hong Kong.

The Singapore Tourism Board (STB) has announced its strategic direction for the latter half of 2026, following its presentation at the Tourism Industry Conference on 8 May. The plan aims to enhance Singapore’s status as a world-class destination, with projections of 17-18 million international arrivals and S$31-32.5b in tourism receipts. Singapore’s tourism sector hit a record S$32.8b in 2025 receipts, bolstered by 16.9 million international visitors.

STB’s roadmap includes a S$740m investment into the Tourism Development Fund over the next five years. This funding is intended to bolster Singapore’s position as a global hub for people, capital, and trade, and to support resilient businesses.

Key initiatives include the Orchard Road Rejuvenation Plan, set to launch mid-2026, which will introduce interactive building façades, night markets, and artistic installations. The Grange Road Events Venue, a collaboration with Live Nation, will host concerts and community activities. Additionally, the former Singapore Chinese Girls’ School site will be transformed into a mixed-use development, and the NoMad Hotel will open as Asia Pacific’s first under Hilton.

The Greater Sentosa Master Plan will develop Sentosa and Pulau Brani into a major tourism destination, whilst the Singapore Cruise Centre will relocate to a new facility by 15 July 2026.

STB has also signed MOUs with Weixin Pay, Universal Music Singapore, and Mr. Romance to enhance global marketing outreach. Furthermore, the AI Playbook for Tourism and Tcube Centre of Excellence will drive digital transformation in the sector.

These initiatives are part of STB’s broader vision to position Singapore as a premier destination for both leisure and business travellers.

KPMG in Singapore and The Institute of Internal Auditors Singapore have launched a new playbook titled “The Agentic Opportunity: Governing AI for Trust, Integrity and Impact”. This guide is designed to assist organisations in responsibly governing artificial intelligence (AI) as it becomes increasingly integrated into business operations. The launch event gathered leaders from governance, risk, and internal audit sectors to address the growing challenge of AI-related risks.

The playbook draws on insights from IIA Singapore’s Risk in Focus 2026 report, supplemented with local data, to provide a comprehensive approach to AI governance. It focuses on three key areas: human capital, cybersecurity, and digital disruption. The guide emphasises the evolving role of internal audit, suggesting a shift from traditional oversight to acting as strategic advisers in AI governance.

Jonathan Ho, Head of Risk Consulting at KPMG in Singapore, highlighted the importance of internal audit as a strategic partner in AI adoption. “Organisations that govern AI responsibly—not simply adopt the most technology—will thrive,” he stated. The playbook also outlines the need for building AI fluency across all organisational levels and integrating AI risk and security into a unified framework.

The playbook has been selected for use in Workforce Singapore’s programmes, extending its impact on workforce transformation efforts. As AI continues to reshape business landscapes, this playbook aims to equip organisations with the tools needed to navigate the complexities of AI governance effectively.

Franklin Templeton has announced the appointment of Jiun Wen Chee as Head of Private Markets, APAC Wealth. Based in Singapore, Chee will spearhead the expansion of Franklin Templeton’s private markets franchise across the Asia Pacific region. He will collaborate with investment, distribution, and product teams to enhance the firm’s private equity, private credit, real estate, and infrastructure offerings for wealth clients. Chee reports to Jeff Masom, Head of US Distribution and Global Wealth Management Private Markets, and Christian Bucaro, Head of Wealth, Asia.

The appointment comes amid increasing demand for private market strategies among wealth clients in Asia Pacific. Franklin Templeton’s alternatives assets under management (AUM) reached US$286b as of 30 April 2026. The firm raised approximately US$23b in private markets over the past two quarters, with significant contributions from the Asia Pacific wealth channel.

Jeff Masom commented, “Jiun Wen brings deep private markets experience and a strong understanding of the Asia Pacific wealth market. His expertise will help us build on our relationships across the region and deliver solutions that are well structured, scalable, and relevant for clients.”

Chee, with over two decades of experience in alternatives, private wealth, and institutional advisory, previously served as a Managing Director at Bank of Singapore. He played a pivotal role in expanding client adoption of private markets there. Chee holds a Bachelor of Science (Honours) in Economics from the University of Warwick, UK.

Chee’s appointment is subject to regulatory approval by the Monetary Authority of Singapore.

The London School of Business and Finance (LSBF) Singapore Campus has announced a strategic partnership with the University of Chichester to enhance access to internationally recognised postgraduate degrees in Singapore. This collaboration combines the University of Chichester’s academic heritage with LSBF’s industry-driven approach, aiming to provide professionals with the skills needed in a competitive global economy.

The partnership is set to address the growing demand for expertise in digital marketing and psychotherapy, fields that are becoming increasingly important as businesses undergo digital transformation and societies focus more on mental wellbeing. Katie Akerman, Director of Education Policy, Quality, and Partnerships at the University of Chichester, stated, “Our collaboration with LSBF enables us to deliver programmes that are both academically rigorous and highly relevant to the evolving needs of professionals in this dynamic market.”

LSBF has already submitted the partnership to the Singapore SkillsFuture Agency (SSG) and anticipates strong demand, targeting over 100 applications within the first year. Sunil Gideon, Senior Director of Commercial at LSBF Singapore Campus, emphasised the importance of the partnership, saying, “This is about equipping learners with the capabilities to stay relevant and competitive in a rapidly evolving landscape.”

This initiative reinforces LSBF’s commitment to broadening educational pathways and strengthening Singapore’s position as a hub for quality international education, offering students a gateway to global opportunities and career progression.

The Monetary Authority of Singapore (MAS) has announced the appointment of Ong Pang Thye to its Board of Directors for a three-year term starting 1 June 2026. This appointment coincides with the re-appointment of several key figures, including Chairman Gan Kim Yong and Managing Director Chia Der Jiun.

Gan Kim Yong, who also serves as Deputy Prime Minister and Minister for Trade and Industry, will continue as Chairman of the MAS Board for another three years. Chia Der Jiun will remain as Managing Director and a board member for an additional two years. Lucien Wong, the Attorney-General, and Chaly Mah, Chairman of NetLink NBN Management Pte Ltd, will also continue their roles on the board, with Mah serving a final one-year term and retaining his position as Chairman of the Audit Committee.

Ong Pang Thye, who brings extensive experience from his roles at the Singapore Business Federation, Temasek, Singapore Power Limited, and MOH Holdings, is expected to provide valuable insights to the board. Previously, he was the Managing Partner at KPMG Singapore. Gan Kim Yong expressed confidence in Ong’s ability to contribute, stating, “His experience in accounting and consulting work in a broad range of industries will be valuable to the MAS Board as we navigate an increasingly complex and turbulent world.”

These appointments and re-appointments are set to strengthen the leadership of MAS as it continues to address the challenges of a dynamic global financial landscape.

Singapore Gulf Bank (SGB) has announced a strategic partnership with Standard Chartered to enhance cross-border clearing and settlement flows, particularly in emerging markets. This collaboration is designed to improve SGB’s multi-currency services and payment rails, reducing friction in international transactions and supporting the bank’s digital asset strategy.

The partnership targets the Middle East and Asia corridor, where digital asset adoption is growing rapidly. Clients in these regions will benefit from smoother correspondent banking flows, leading to faster settlements. Shawn Chan, CEO of SGB, highlighted the importance of reliable, high-speed settlement for global businesses, noting that emerging markets often face structural disadvantages due to complex intermediary routing. “By partnering with Standard Chartered, SGB is resolving the bottlenecks and providing the modern infrastructure required to power the digital asset economy across these vital corridors,” Chan stated.

Karine Zakhour, Head of Banks Brokers and Dealers at Standard Chartered MENA, emphasised the accelerating pace of cross-border payment flows and the evolving infrastructure supporting them. She noted that Standard Chartered’s global network and clearing capabilities enable real-time, transparent settlement where it is most needed.

This announcement follows a series of milestones for SGB, including the launch of its corporate banking service in 2024 and the introduction of SGB Net in 2025 for real-time, multi-currency settlement. The bank has also partnered with digital asset infrastructure provider Fireblocks to enhance its treasury management and digital asset custody services.