Industry News

Cybersecurity company F6 has uncovered that Singapore and Malaysia are among the top 10 countries globally for payment cards sold on underground markets. In 2025, Singapore ranked 7th with 130,769 cards, whilst Malaysia was 9th with 101,705 cards. The findings are part of F6’s 2025-2026 Cyber Threat Landscape Report, set for release on 31 August.

The report highlights the scale of the global fraud economy, with over 16.5 million payment cards compromised during 2025 and the first half of 2026. Malaysia maintained its position in the top 10 in the first half of 2026 with 22,824 cards, whereas Singapore dropped out of the top 20. Australia also featured prominently, with 39,498 cards in the same period.

A single compromised card typically fetches between $10 and $20 on underground markets. The United States led the global rankings with more than 8.6 million cards sold in 2025, followed by the UK, Canada, France, and Australia.

These findings underscore the persistent threat of payment card fraud in the Asia-Pacific region, highlighting the need for enhanced cybersecurity measures. As the report’s release approaches, it is expected to provide further insights into the evolving landscape of cyber threats and the impact on global financial security.

The Singapore Land Authority has announced revisions to the Land Betterment Charge (LBC) rates effective from 1 September 2026 to 28 February 2027. The adjustments, conducted biannually with the Chief Valuer, reflect changes in land values across various use groups, with notable increases in industrial and residential sectors.

The LBC rates for Use Group D (Industrial) saw the highest rise at 3.9%, driven by strong investor interest and portfolio deals. Residential landed properties (Use Group B1) followed with a 3.5% increase, whilst non-landed residential properties (Use Group B2) rose by 3.4%. The commercial sector (Use Group A) experienced a moderate 1.7% increase, with significant hikes in suburban areas like Siglap and Bedok South, attributed to major mall transactions.

Tricia Song, CBRE Head of Research for Singapore and Southeast Asia, noted that the easing of LBC rate increases this cycle supports urban rejuvenation efforts. “Whilst increases in LBC rates typically raise redevelopment costs and compress developers’ margins, the easing in LBC rate increase this cycle bodes well for the rejuvenation efforts and should not dampen enbloc activities significantly,” she stated.

The revisions are expected to influence redevelopment strategies, particularly in the Central Business District (CBD), where commercial rates have remained unchanged since March 2024. The adjustments reflect ongoing investment activity and developer confidence, supported by resilient homebuying demand and lower borrowing costs.

As Singapore continues its urban renewal initiatives, the revised LBC rates will play a crucial role in shaping future development projects, balancing cost implications with the potential for asset rejuvenation.

A joint venture between CapitaLand, UOL, and SingLand has secured the New Upper Changi Road Government Land Sales (GLS) site with a top bid of $1,537 per square foot per plot ratio (psf ppr). This rare site in the mature town of Bedok attracted four bids from prominent developers, highlighting its desirability due to its proximity to transport, amenities, and schools.

The site sets a new benchmark for pure residential land in the Outside Central Region (OCR). Bedok’s popularity is evident, with the previous project, Sky Eden@Bedok, achieving a 75% sales rate during its launch weekend, with a median price of $2,404 psf in 2026. Additionally, a record $1.45m was paid for a 5-room flat in Bedok South Horizon in August 2026.

Mark Yip, CEO of Huttons Asia, noted the scarcity of available land parcels near Bedok MRT station, with this likely being the last within walking distance. The station is less than 300 metres away, enhancing the site’s appeal. The area is well-served by an integrated transport hub, Bedok Mall, Bedok Sports Hall, Heartbeat @ Bedok, and hawker centres, with the East Coast Parkway (ECP) and Pan Island Expressway (PIE) nearby.

The demand for the site is expected to come from the neighbouring Opera Estate and approximately 1,000 flats meeting the five-year Minimum Occupation Period (MOP) from 2026 to 2028. Families will benefit from the proximity of three primary schools within 1 kilometre of the site.

Singapore-founded Beyond Border, a tech-enabled US immigration platform, has announced the appointment of Kum Hong Siew, former Airbnb China COO, and Bassam Abdel-Rahman, former Zenyum CMO, as advisers. This move comes as the company embarks on its next growth phase across the US, Asia, and Latin America.

Beyond Border has achieved a multimillion-dollar annual revenue run rate, maintaining net profitability for the past two years. The company reported a 38% quarter-on-quarter revenue growth in its most recent quarter, setting it on a path to triple its annual revenue in 2026.

Siew, one of Airbnb’s earliest employees in the Asia-Pacific region, will provide guidance on business strategy, legal operations, and operational scaling. Abdel-Rahman, who has held senior roles at global creative agency 72andSunny, will focus on brand, marketing, and customer growth strategies.

Beyond Border has supported numerous founders, including those from Y Combinator, Techstars, Antler, and 500 Global. Its corporate clientele includes SuperOps and Biorce. Over the next year, the company aims to enhance its US presence, strengthen ties with founders and venture capital firms in Asia, and expand into Latin America through regional partnerships.

Fred Ng, co-founder and CEO of Beyond Border, is available to discuss the company’s growth and future plans. The strategic appointments of Siew and Abdel-Rahman are expected to bolster Beyond Border’s expansion efforts and solidify its position in the global market.

Knight Frank Singapore has announced the availability of two rare city-centre commercial properties, catering to investors seeking prime locations with long tenures and income potential. The properties include a ground-floor shop at Nomu and a three-storey conservation shophouse at North Canal Road.

The Nomu property, a freehold strata commercial unit, spans approximately 1,335 square feet and is strategically located near Dhoby Ghaut MRT station. It benefits from proximity to popular shopping destinations like Plaza Singapura and The Cathay, offering immediate rental income due to its current tenancy.

Meanwhile, the North Canal Road shophouse, held on a 999-year tenure, covers a site area of about 953 square feet with a gross floor area of 3,154 square feet. Situated in the Boat Quay Conservation Area, it is surrounded by a vibrant mix of commercial establishments and is a short walk from Raffles Place and Clarke Quay MRT stations.

Both properties offer flexibility for various commercial uses, including offices, retail, and wellness centres, subject to approvals. Notably, foreign buyers can acquire these assets without incurring Additional Buyer’s Stamp Duty or Seller’s Stamp Duty.

Mary Sai, Executive Director of Capital Markets at Knight Frank Singapore, stated, “Freehold and near-freehold commercial opportunities remain limited in Singapore, particularly within established city-centre precincts where supply is naturally constrained. This scarcity has supported sustained interest from private investors, family offices and owner-occupiers seeking assets that combine wealth preservation with future upside.”

These properties present a unique opportunity for investors to secure assets in Singapore’s coveted commercial precincts, offering both scarcity and potential for future growth.

GetGo, Singapore’s leading carsharing service, has significantly improved its operational efficiency and reliability by integrating Datadog’s observability platform. This strategic move has enabled GetGo to achieve full-stack observability, reducing bug investigation time by 50-60% and cutting issue detection and resolution time by 30-40%.

With a fleet of over 3,000 vehicles across 1,700 locations, GetGo relies heavily on its mobile platform to provide seamless, on-demand mobility. The deployment of Datadog has allowed GetGo to unify monitoring across its entire platform, offering real-time visibility into mobile user experiences. This has empowered engineering teams to identify and resolve issues proactively, enhancing user trust and retention.

Kirivarnan Kumarasamy, Director of Engineering at GetGo, stated, “Datadog brought our entire platform into view and enabled our teams to move from reactive troubleshooting to proactive, confident engineering.” The integration of Datadog’s comprehensive suite of capabilities, including Application Performance Monitoring and Real User Monitoring, has streamlined operations and reduced context switching for engineers.

Looking forward, GetGo plans to explore Datadog’s AI-augmented capabilities to further boost engineering productivity and support its expansion beyond Singapore. Adrian Towsey, Vice President of Commercial Sales for Asia-Pacific and Japan at Datadog, noted, “GetGo’s ability to scale confidently and expand into new markets rests on having complete and unified visibility into every layer of its technology stack.”

As carsharing becomes an integral part of urban mobility, GetGo’s enhanced platform reliability positions it well for future growth and market expansion.

Singapore Land Group (SingLand) has announced an ambitious redevelopment plan for the Marina Square complex, transforming it into Singapore’s first hyper-mixed development. This 9.2-hectare site will integrate urban living, hospitality, workplaces, retail, sports, wellness, and culture into a connected 24/7 destination.

The redevelopment will feature three new towers, including 204 luxury residences, a 260-key serviced apartment, and a 304-key hotel. Additionally, it will offer approximately 13,000 square metres of premium Grade A office space. The existing four-storey mall will be reimagined as the heart of the precinct, spanning over 76,000 square metres and featuring an expanded mix of food and beverage, sports, wellness, and lifestyle concepts.

Designed by UK-based PLP Architecture and local firm DP Architects, the project will also introduce new public and green spaces, including a 6,500 square metre park above Stamford Canal. The development aims to enhance connectivity with a continuous sheltered walkway and an elevated botanical loop linking to nearby attractions.

Jonathan Eu, SingLand’s CEO, stated, “This hyper-mixed approach is about more than placing different uses together. It is about designing them to reinforce one another, with the mall and public realm serving as shared platforms for activity throughout the day.”

The project will also focus on sustainability, with all new buildings targeting Green Mark Platinum Super Low Energy certification. Construction is set to begin after the mall closes on 31 March 2027, with completion expected by 2031.

DayOne Data Centres Limited, a Singapore-based digital infrastructure platform, has announced a collaboration with TNB Power Generation Sdn. Bhd. (TNB GenCo) to explore a dedicated on-site power generation solution of up to 1.5 gigawatts (GW) for its new data centre in Selangor, Malaysia. This initiative aims to enhance Malaysia’s energy resilience and support the growing demand for AI and cloud infrastructure.

The collaboration will integrate on-site power generation with a battery energy storage system (BESS) to bolster grid security and reliability. This project marks DayOne’s continued expansion in Greater Kuala Lumpur, complementing its existing presence in Johor. The partnership builds on previous collaborations, including green energy programmes like the Corporate Renewable Energy Supply Scheme and the Green Electricity Tariff.

Jamie Khoo, CEO of DayOne, emphasised the importance of Malaysia in the company’s growth strategy, stating, “Together with TNB, we are exploring an integrated approach that combines on-site power generation and a battery energy storage system directly with our data centre infrastructure.”

TNB CEO, Datuk Ir. Ts. Shamsul Ahmad, highlighted the significance of reliable electricity infrastructure for Malaysia’s digital economy, noting, “TNB’s role is now more pertinent than ever in balancing digital economy growth and long-term sustainability.”

The project aligns with Malaysia’s National Energy Transition Roadmap and aims to attract high-value digital investments whilst minimising environmental impact. DayOne expects its investment in Malaysia to exceed RM28b by the end of 2026, reinforcing its commitment to the region’s long-term growth.

Helmsman LLC has announced the appointment of Raj Mannar as Director and Head of its Corporate, Mergers & Acquisitions (M&A) practice, effective 1 September 2026. Mannar, who brings close to 15 years of experience in corporate and commercial matters, will be instrumental in strengthening Helmsman’s M&A capabilities across Southeast Asia and beyond.

Mannar’s extensive experience includes advising on transactions valued at over $500m, with his most recent role as Singapore counsel for Victory Giant Technology’s $2.6b listing on the Hong Kong Stock Exchange. Recognised as one of Southeast Asia’s Top 40 Under 40 lawyers by LexisNexis and a Rising Star by AsiaLaw, Mannar is well-regarded for his expertise in cross-border acquisitions, joint ventures, and corporate restructurings.

Ian Teo, Managing Director of Helmsman, expressed enthusiasm about Mannar’s appointment, stating, “We are delighted to welcome Raj to Helmsman. His deep transactional experience across complex, cross-border matters and his track record advising clients through every stage of a deal make him an outstanding addition to our team.”

Mannar himself commented on his new role, saying, “Helmsman has built its reputation on commercial, client-focused advice, and I am delighted to join at this stage of the firm’s growth. I look forward to working with the team to build out the Corporate, Mergers & Acquisitions practice in Singapore and across the region.”

Helmsman LLC, with offices in Singapore and Hong Kong, is a multidisciplinary law firm known for its comprehensive support on transactions and cross-border deals. The firm emphasises practical advice and delivering tangible results, making Mannar’s appointment a strategic move in its ongoing growth.

Frasers Property Limited has announced the acquisition of Cuppage Terrace, a cluster of 17 conservation shophouses located in the heart of Orchard Road, Singapore, for S$175m. The property spans approximately 28,986 square feet and boasts a total gross floor area of about 34,678 square feet, excluding outdoor refreshment areas.

Cuppage Terrace is renowned for its Peranakan-style shophouses, offering a vibrant mix of food-and-beverage, entertainment, and nightlife options. Its strategic location, just a five-minute walk from Somerset MRT station, ensures high footfall from office workers and shoppers in the surrounding retail belt. The area is also easily accessible via major roads and expressways, including the Central Expressway.

The acquisition aligns with Frasers Property’s strategy to strengthen its presence along Orchard Road. Soon Su Lin, CEO of Frasers Property Singapore, stated, “The acquisition of Cuppage Terrace strengthens our presence along Orchard Road and reinforces our commitment to shaping a more connected and vibrant precinct.” This move, coupled with the strengthening of ownership of The Centrepoint, is expected to unlock synergies across adjacent sites and contribute to the ongoing transformation of Orchard Road, in line with the government’s long-term vision for the area.

This strategic acquisition is set to enhance Frasers Property’s portfolio, positioning it to better serve the evolving needs of Singapore’s premier lifestyle destination. The development is anticipated to play a significant role in the area’s transformation, offering a blend of heritage and modernity to both locals and tourists.