Industry News

KKR and Singtel have announced a landmark acquisition of an 82% stake in ST Telemedia Global Data Centres from ST Telemedia, valued at S$6.6b (approximately US$5.1b). This transaction, facilitated by Citi as the lead financial adviser, represents the largest merger and acquisition deal in Singapore over the past four years and the largest data centre transaction in Southeast Asia to date.

The acquisition, which includes leverage and capital expenditure for committed projects, implies an enterprise value of approximately S$13.8b (approximately US$10.9b). Citi not only advised KKR and Singtel but also provided acquisition financing, underscoring its pivotal role in the transaction.

This strategic move highlights the growing importance of data centre colocation services in the region, as demand for digital infrastructure continues to rise. The acquisition is expected to bolster KKR and Singtel’s positions in the data centre market, enabling them to capitalise on the increasing need for robust digital infrastructure.

The transaction is a significant milestone for the involved parties, marking a substantial shift in the ownership structure of ST Telemedia Global Data Centres. As the digital economy expands, this acquisition positions KKR and Singtel to better serve the burgeoning data needs of businesses across Southeast Asia.

HeritageSG and Tencent have unveiled WonderBot 2.0 at the Children’s Museum Singapore, marking a significant step in integrating conversational AI and game-based learning into heritage education. This launch is part of Tencent’s three-year digital heritage commitment in Singapore, aiming to transform traditional museum visits into interactive learning experiences for children.

WonderBot 2.0, powered by Tencent’s digital avatar and semantic understanding technologies, offers voice-responsive interactions and personalised learning journeys. It guides children through exhibits using storytelling, quizzes, and interactive missions, encouraging exploration and curiosity without replacing human interaction. Located within the museum’s permanent exhibition space, WonderBot aims to foster meaningful dialogue and engagement among young visitors.

The partnership between HeritageSG and Tencent not only introduces WonderBot 2.0 but also establishes a platform for piloting and scaling digital initiatives across HeritageSG’s programmes. This collaboration opens opportunities for further partnerships with technology firms and local creatives to enhance digital heritage experiences.

Murphy Zhao, Country Manager of Tencent Singapore, stated, “Drawing on Tencent’s deep experience in game technology, interactive design, and digital cultural preservation, we wanted to help create a museum experience that feels responsive, engaging, and playful.” Asmah Alias, Director of Galleries, Exhibitions and Museums at HeritageSG, added, “Partnerships like this demonstrate how emerging technologies can make heritage learning more engaging and accessible for families and students.”

WonderBot 2.0 is now available to the public as part of the Children’s Museum Singapore’s permanent interactive experience, supporting the museum’s mission to inspire learning through play.

The Qatar Investment Authority (QIA) has announced its role as a founding investor in Hongkong Land Holdings Limited’s inaugural private real estate fund, the Singapore Central Private Real Estate Fund (SCPREF). With assets under management totalling S$8.2b (US$6.3b), SCPREF is now the largest office-focused private investment platform in Singapore.

SCPREF’s portfolio includes a 100% interest in Asia Square Tower 1, a one-third interest in Marina Bay Financial Centre Tower 1 and Tower 2, Marina Bay Link Mall, One Raffles Quay, and a full interest in One Raffles Link. This investment reflects QIA’s confidence in Singapore as a global gateway city, supported by strong occupier demand and transparent regulations.

QIA’s involvement highlights its strategy of partnering with top-tier operators to access high-quality real assets in key global markets. The fund’s assets are certified under Singapore’s BCA Green Mark Platinum or Super Low Energy standards, aligning with QIA’s commitment to responsible investment.

The collaboration with Hongkong Land, a major property development group, leverages their asset management capabilities and opens up future commercial opportunities in Singapore. QIA, alongside APG Asset Management, aims to provide long-term institutional capital to support SCPREF’s growth strategy.

This strategic move underscores QIA’s dedication to generating resilient long-term returns and further solidifies its presence in the global real estate market.

The Housing Development Board (HDB) is set to launch 4,692 flats across six projects in its February 2026 Build-To-Order (BTO) exercise, the smallest since February 2022. Of these, 1,316 flats across three projects will feature a shorter waiting time (SWT) of less than three years, potentially attracting demand from the resale market and stabilising prices.

The Sale of Balance Flats (SBF) exercise in February 2026 will offer flats in attractive locations, with nearly 20% already completed, which may divert some demand from the resale market. The BTO exercise will include 1,052 Prime flats, 1,406 Plus flats, and 2,234 Standard flats.

In Bukit Merah, the BTO project is adjacent to Redhill Peaks, which had a high application rate previously. The area is well-connected with amenities and transport links, making it highly desirable. The application rate for 4-room flats among first-timers is expected to be around 2 to 3.

Tampines Nova, a Plus flat project, is popular due to its proximity to Tampines Central and MRT station. With only 133 4-room flats available, the application rate from first-timers may exceed 5. In Toa Payoh, Kim Keat Crest offers a waiting time of just over three years, appealing to those seeking a central location.

The Standard flats in Tampines Bliss boast a waiting time of 1 year and 11 months, making them attractive compared to the resale market. With only 204 4-room units, competition is expected to be fierce, with application rates potentially exceeding 5.

In Sembawang, the BTO projects Sembawang Deck and Sembawang Voyage will offer the only 5-room flats in the February 2026 exercise. These projects are near future developments and offer a good chance for applicants to secure a flat, with expected application rates for 4-room and 5-room flats among first-timers being less than 1.

CapBridge, a digital investment platform licensed by the Monetary Authority of Singapore, has announced a strategic partnership with AIA Singapore to distribute tailored insurance solutions for high-net-worth individuals (HNWIs). This collaboration aims to bolster CapBridge’s existing offerings by integrating AIA’s customised insurance products, thereby supporting long-term wealth management and legacy planning.

The partnership will see CapBridge acting as a distributor of AIA’s insurance solutions, complementing its investment and advisory services. This move is designed to address the evolving financial needs of clients, who increasingly view insurance as a critical component of comprehensive financial planning. Janet Liu, CEO of CapBridge, emphasised the importance of this partnership, stating, “By broadening our insurer partnerships, we aim to provide clients with greater choice and flexibility in structuring long-term wealth management and legacy planning strategies.”

Kelvin Kua, Chief Partnership Distribution Officer of AIA Singapore, highlighted the synergy between robust insurance protection and agile investment platforms, noting, “We are delighted to partner with CapBridge to integrate AIA’s wealth and legacy solutions into their digital ecosystem.”

This collaboration aligns with the broader vision of FOMO Group, of which CapBridge is a member, to create a more integrated digital finance ecosystem. By enhancing its insurance distribution framework, CapBridge strengthens its ability to deliver comprehensive financial solutions, supporting the diverse needs of HNWIs within a unified and regulated environment.

Singapore Management University (SMU) has introduced a Master of Science in Business AI, designed to develop leaders proficient in artificial intelligence (AI) and business strategy. This programme, launched on 4 February 2026, aligns with Singapore’s SkillsFuture and Smart Nation initiatives, addressing the increasing demand for AI skills in business leadership.

The programme aims to bridge the gap between technical AI knowledge and strategic business application. Professor Sungjong Roh, Academic Director of the programme, highlighted the need for leaders who can strategically deploy AI tools and manage associated risks. “The real AI skills gap isn’t merely technical—it’s translational,” he stated.

The curriculum is distinct in its integrated approach, combining business strategy, decision intelligence, AI capabilities, and ethics. It includes courses such as Human-AI Collaboration and AI-Augmented Influencing Change Management. SMU’s interactive seminar-style teaching method encourages deep engagement and practical learning.

By aligning with national priorities and industry needs, the programme supports Singapore’s goal to remain competitive in an AI-driven economy. It aims to produce graduates who can effectively connect senior leadership with technical teams, ensuring AI investments deliver business value.

Applications for the August 2026 intake are now open. This initiative is expected to contribute significantly to Singapore’s pipeline of AI-ready business leaders, reinforcing the nation’s position in the global AI landscape.

South Africa’s Minister of Tourism, Patricia de Lille, recently concluded her visit to Singapore, part of a Southeast Asia outreach programme aimed at enhancing tourism and investment ties. In 2025, over 9,827 Singaporeans visited South Africa, marking a 4.7% increase from the previous year. The average spending by these tourists remained stable, positioning South Africa as a value-driven destination.

During a press briefing on 2 February, de Lille showcased new attractions in South Africa, including the Kgodumodumo Dinosaur Interpretation Centre and the upcoming ClubMED resort in KwaZulu Natal. The country is also set to host major sporting events such as the LIV Golf tournament and the Cricket World Cup, further boosting its appeal as a sports tourism destination.

De Lille emphasised the longstanding relationship between Singapore and South Africa, dating back to 1993, and highlighted Singapore’s role as a crucial air hub. “South Africa offers a natural fit for travellers looking to integrate work and holiday,” she stated, noting the potential for business travellers to extend their stays for leisure.

The Minister’s visit also included meetings with Singaporean officials to discuss deepening trade and tourism cooperation. Additionally, she invited investors to the upcoming Tourism Infrastructure Investment Summit in September 2026, following the successful launch of eight bankable projects last year.

De Lille’s outreach programme will continue in Malaysia and Indonesia, aiming to further strengthen South Africa’s tourism offerings and investment opportunities in the region.

DigiFT, a regulated digital asset exchange, has announced a strategic partnership with Hines, a global real estate investment manager, to facilitate the tokenisation and distribution of an indirect investment in a Hines-managed real estate portfolio. This initiative will be available exclusively to accredited, professional, and institutional investors, offering them tokenised access to a fund investing in a portfolio valued at over US$6b.

The collaboration marks one of the first instances of on-chain distribution for institutional-quality private real estate, a sector traditionally characterised by high entry barriers and complex operations. This move reflects a growing trend among asset managers and digital platforms to modernise capital markets infrastructure without altering existing fund structures or regulatory safeguards.

Paul Ferraro, Global Head of Private Wealth Solutions at Hines, stated, “We aim to expand global access to institutional-quality global real estate through modern and regulated channels whilst maintaining strong governance and investor safeguards.” This sentiment was echoed by Hao Zhan, Head of Asia Private Wealth Solutions at Hines, who highlighted the importance of secure and innovative channels tailored to regional needs.

Henry Zhang, Founder and Group CEO of DigiFT, emphasised that tokenisation is about improving distribution and access to institutional strategies. The collaboration supports digital issuance and ownership records, streamlined distribution across jurisdictions, and lays the groundwork for compliant secondary transfers.

DigiFT, regulated by the Monetary Authority of Singapore and the Hong Kong Securities and Futures Commission, continues to bridge traditional asset management with next-generation capital markets infrastructure. This partnership with Hines underscores the alignment between established asset managers and regulated digital platforms, aiming to enhance capital markets infrastructure whilst maintaining investor protections.

Thales has announced three new Memorandums of Understanding (MoUs) with the Singapore Economic Development Board (EDB) at the Singapore Airshow 2026, aimed at bolstering its digital and manufacturing footprint in Singapore. These agreements will see Singapore become one of three global R&D centres for Thales’ FlytEDGE in-flight entertainment solution, alongside France and the US, with plans to train nearly 40 experts by 2030.

The MoUs include the launch of a cybersecure AI-enabled Regulatory Technology managed service, designed to help companies across various industries maintain cybersecurity and compliance with the latest regulations. Initially available to Fintech customers, the service will soon expand to sectors like pharmaceuticals and aerospace.

Additionally, Thales will enhance its Singapore Cybersecurity & Digital Identity Manufacturing Competence Centre by integrating advanced smart automation technologies such as Collaborative Robots (COBOTs) and Autonomous Mobile Robots (AMRs). This move aims to increase productivity and upskill the workforce, aligning with Singapore’s ambitions for advanced manufacturing.

Emily Tan, Country Director and Chief Executive of Thales in Singapore, stated, “These agreements illustrate Thales’ continued investment in Singapore, where we are deepening our expertise in technologies like AI, cyber, quantum, and cloud.”

The strategic investments underscore Singapore’s role as a global hub for advanced digital innovation, supporting the growth of high-value R&D and next-generation solutions.

Fullerton Fund Management has announced that its Carbon Action Fund has completed an investment in Pyro Energie, Thailand’s leading recycler of end-of-life tyres. This marks the fund’s first investment in Southeast Asia, aligning with its strategy to partner with established businesses that combine robust financials with scalable decarbonisation outcomes across the region and India.

The Fullerton Carbon Action Fund targets mid-market leaders in transition-critical sectors such as industrials, manufacturing, circular economy, energy, and mobility. It prioritises companies with proven operational histories and clear value-creation pathways, steering clear of early-stage technologies and capital-intensive infrastructure projects.

Founded in 2016, Pyro Energie operates commercial-scale pyrolysis facilities that convert waste tyres into pyrolysis oil, recovered carbon black, and wire scrap. The company has established itself as a market leader in Thailand, with an annual capacity of over 40 million litres of pyrolysis oil and over 30 million tonnes of recovered carbon black. The investment will support Pyro Energie’s expansion into higher-value, premium-grade products through the construction of a new production facility.

Anisa Keeratiworanan, Director of Alternatives at Fullerton Fund Management, stated: “We look forward to working with Pyro Energie following the investment. The company is a market-leading business with strong operating fundamentals, defensible positioning, and a clear role in enabling industrial decarbonisation.”

Peerapon Ourapeepon, CEO of Pyro Energie, expressed confidence in the partnership, noting the alignment with sustainability priorities and values. This collaboration aims to responsibly scale the business and focus on long-term value.