Industry News

Mastercard’s latest Dreamonomics Report highlights that small and medium-sized enterprises (SMEs) in Singapore are increasingly using multiple business accounts to manage cash flow, with 48% doing so for this purpose. The report, which surveyed SMEs across Asia Pacific, reveals that 55% of SMEs in Singapore utilise fintech accounts to address specific business needs, underscoring the demand for more integrated financial tools.

The report indicates that as Singapore SMEs adopt more financial tools and payment methods, they face challenges in maintaining visibility and integration across these systems. This complexity is echoed regionally, where Asia Pacific SMEs use an average of five business tools and four payment methods. Despite 74% expressing optimism about the future, 69% prioritise predictability and stability, with integrated tools deemed crucial for daily decision-making.

Anouska Ladds, Executive Vice President of Commercial & New Payment Flows at Mastercard, emphasised the need for payment experiences that align with business operations. “Every business decision today has a financial dimension. SMEs need payment experiences that fit how they actually operate, giving them the flexibility to stay in control of their working capital,” she stated.

The report also highlights the growing importance of security, with 70% of Asia Pacific SMEs prioritising protection against cyber threats. However, only 39% currently utilise cybersecurity tools. As digital operations expand, SMEs are increasingly looking for security features embedded within their existing financial tools.

Mastercard’s findings suggest that the next phase of SME digitisation will focus on integrating existing tools to enhance business operations, rather than merely adopting new technologies.

As more women in Singapore and Korea enter motherhood later in life, clinicians are calling for postnatal care to be tailored to individual needs and grounded in clinical evidence. This was the focus at DeRAMA Singapore’s Joint Postnatal Recovery Seminar, held on 17 August 2026, where Dr Park Jeongmi from Korea and Singapore-based Dr Ho Ping Ling discussed evolving postpartum practices.

Dr Ho highlighted that women aged 35 and above face higher risks of medical conditions and complications during pregnancy, necessitating personalised care. “There is no one-size-fits-all approach,” she stated, emphasising the importance of assessing each mother’s unique circumstances.

In Korea, the rise of nuclear families has led to the development of sanhujoriwon, or postpartum recovery centres, which provide structured support. Dr Park noted that 85.51% of Korean mothers now use these centres, which offer comprehensive care beyond traditional rest and nutrition.

In contrast, Singapore’s postnatal care remains largely home-based, relying on family support. However, concerns were raised about the inconsistent training and medical basis of some practices. Dr Ho pointed out that certain long-held beliefs, such as avoiding showers, contradict modern hygiene standards.

The seminar also addressed the affordability of structured care. Dr Park mentioned that some Korean centres receive government support, making them more accessible. This model could inspire similar initiatives in Singapore, where recovery centres are still emerging.

Ultimately, the seminar underscored the importance of integrating professional, evidence-based services with traditional family involvement to enhance postnatal care for modern mothers in Singapore.

Singapore’s non-oil domestic exports (NODX) experienced a remarkable 46.2% increase in August 2026 compared to the same month last year, according to data released by Enterprise Singapore. This growth extends the 24.1% rise observed in July, driven primarily by a surge in electronics exports, which saw a 131.8% increase due to robust demand for artificial intelligence (AI)-related products.

The expansion in NODX was supported by significant growth in electronic components such as integrated circuits (ICs), disk media products, and personal computers (PCs). Disk media products alone saw a staggering 290.2% increase, whilst PCs grew by 237.9%. Non-electronic exports also contributed to the growth, with specialised machinery and non-monetary gold leading the charge.

Non-oil re-exports (NORX) also saw a substantial rise, expanding by 53.3% in August, following a 51.3% increase in July. This was largely driven by electronics, which grew by 68%, and non-electronics, which increased by 32.9%.

The total merchandise trade for Singapore expanded by 44.5% in August, with both exports and imports contributing to this growth. The rise in exports was driven by both non-oil and oil exports, which increased by 51.3% and 36.8%, respectively.

Key markets such as the US, China, and South Korea showed significant growth in NODX, with the US seeing a 91% increase, driven by disk media products and specialised machinery. Looking ahead, the continued demand for AI-related electronics is expected to sustain this upward trend in Singapore’s trade performance.

Singapore’s NODX experienced a significant rebound in August, increasing by 10.9% month-on-month seasonally adjusted, after two months of decline. This growth translated into a 46.2% year-on-year rise, surpassing forecasts from both Bloomberg and UOB, which were 35.1% and 35.2% respectively. The recovery suggests that the earlier weakness in semiconductor exports observed in June and July was temporary, according to UOB Global Economics and Markets Research.

Electronics exports led the charge, with a 14.4% month-on-month increase. Integrated circuit exports notably rebounded by 24.6%, whilst personal computer exports rose by 29.4%. However, exports of PCB assemblies, telecommunications equipment, and consumer electronics saw a decline, moderating from previous gains.

Non-electronics exports remained subdued, falling by 9.2% month-on-month. Petrochemical exports dropped by 8.8%, reflecting developments in the Middle East, whilst pharmaceutical exports saw a modest increase of 7.1%.

By destination, electronics exports to key markets like the United States, Taiwan, and South Korea remained robust, with significant year-on-year growth. Demand also strengthened in markets such as India, Indonesia, and the EU27, driven by the rising adoption of AI solutions.

Despite the positive outlook, UOB cautioned that calls to slow AI development could impact the electronics and semiconductor sectors. However, increased cybersecurity requirements and controls on AI could support chip demand. Additionally, rising global yields and fiscal risks may affect global investments and Singapore’s exports.

Mett Singapore is set to host ‘The Race Edit’, a dynamic Grand Prix-themed event, from 2 to 11 October 2026 at Fort Canning. This celebration promises a blend of poolside parties, gourmet dining, and race-inspired cocktails, offering a unique escape amidst the city’s bustling race season.

The highlight of the event is the Cabana Club, scheduled for 10 October, in collaboration with 528 Collective and Patrón. This all-day pool party will feature live DJs, free-flowing drinks, and gourmet dishes, with general admission starting at S$128++. Guests can also opt for VIP packages, which include exclusive bottle service.

Throughout the week, Mett Singapore will offer themed dining experiences. The Driver’s Table at Canning Bar & Lounge will serve race-inspired snacks and cocktails, whilst the Riviera Race Club Brunch at L’Amo Bistrò del Mare will present a Mediterranean twist on brunch with premium seafood and Champagne.

Mett Singapore, nestled in the historic Fort Canning Park, aims to provide a luxurious yet relaxed atmosphere for guests to enjoy the Grand Prix season. The venue combines colonial charm with modern amenities, offering a unique setting for social gatherings and culinary indulgence.

BYD by JC, an authorised dealer in Singapore, has teamed up with GXS Bank to introduce a green vehicle financing programme for Grab driver-partners. This initiative aims to facilitate the transition to electric vehicles (EVs) by offering 100% Loan-to-Value (LTV) financing under the commercial private-hire car exemption scheme, subject to credit approval. With no down payment required and interest rates starting at 2.78%, the programme seeks to lower financial barriers for drivers.

The programme also includes an 8-year or 500,000km battery warranty and 20 complimentary servicing packages, making EV ownership more accessible. Drivers can select from various BYD models, such as the BYD SEAL 6 DM-i and BYD ATTO 3 EVO, to suit their needs.

As Singapore moves towards sustainable transport, private-hire vehicle drivers play a crucial role in adopting EVs. GXS Bank’s involvement ensures full financing is available, aligning with the country’s green mobility goals. Jessica Ang, CEO of BYD by JC, stated, “We empower Grab drivers with affordable and reliable green vehicles that lower daily operating costs and helps boost their earning potential.”

Lai Pei-Si, Group CEO of GXS Bank, added, “Through our partnership with BYD by JC, we are making green vehicle ownership more financially accessible for our customers and supporting their transition towards greener mobility.”

Customers can explore vehicle options at BYD Teban Gardens or BYD VivoCity and book test drives through the GXS × BYD by JC Programme platform. This collaboration marks a significant step in promoting eco-friendly transportation solutions in Singapore.

Knight Frank Singapore has announced the public tender for Trendale Tower, a prime freehold redevelopment site located at 79 Cairnhill Road. The 20-storey residential building, comprising 18 flats, is strategically positioned at the convergence of Orchard Road and Newton, offering a unique blend of build-to-sell and long-stay serviced accommodation possibilities.

The site spans approximately 21,709 square feet with a verified gross floor area of about 72,691 square feet. Under the Urban Redevelopment Authority (URA) Master Plan 2025, it is zoned for residential use with a gross plot ratio of 2.8. The URA has expressed support for a Serviced Apartment 2 (SA2) scheme, subject to approvals, which could allow investors to retain the entire block for recurring income.

Dayna Ang, Senior Manager at Knight Frank Singapore, highlighted the limited pipeline for luxury residential developments in District 9, noting the potential for investors to hold the property for income generation. The site’s proximity to Newton MRT interchange and key lifestyle destinations enhances its appeal.

Newton’s ongoing transformation, with plans for approximately 5,000 new homes, positions Trendale Tower as a first-mover opportunity in a rejuvenating precinct. Melvin Chay, Senior Director at Knight Frank Singapore, anticipates interest from residential developers and investors in the growing long-stay accommodation sector.

The guide price for Trendale Tower is set at $168 million (S$168 million), with the public tender closing on 23 October 2026.

Meta has announced the expansion of its Data Centre Community Action Grants programme to Singapore, marking the first time local organisations can apply for funding. The programme, which supports projects addressing critical community needs, is now accepting applications for the 2027 grant cycle until 19 October 2026.

The grants aim to empower Singaporean organisations to utilise technology for community benefit, foster sustainable community development, and enhance local education in science, technology, engineering, arts, and mathematics (STEAM). This initiative is part of Meta’s commitment to investing in communities where it operates data centres, including Singapore.

Since its inception, Meta has invested $94 million in over 3,700 grants globally, focusing on strengthening local connections, expanding technology access, and improving STEAM education. The expansion to Singapore reflects Meta’s dedication to being an engaged neighbour and creating opportunities for impactful community projects.

Eligible organisations can apply for the grants through Meta’s dedicated platform. This move is expected to bolster local initiatives and provide significant benefits to Singaporean communities.

UOB Private Bank recently concluded its 2026 Next Generation Programme, a five-day event held from 31 August to 4 September in Shanghai and Hangzhou. The programme aimed to equip the next generation of Asia’s wealth and business leaders with the skills needed to navigate China’s burgeoning innovation economy. This initiative, now in its sixth iteration, brought together 26 participants from seven markets, offering them direct exposure to leaders in artificial intelligence (AI), robotics, digital finance, and more.

The programme, developed in collaboration with the Wealth Management Institute and the China Europe International Business School Centre for Family Heritage, combines academic learning with real-world experiences. Participants visited companies like Unitree Robotics and Ant Group, gaining insights into how these businesses are pioneering new technologies and market strategies. Chew Mun Yew, Head of UOB Private Bank, emphasised the importance of preparing future leaders not just to inherit wealth but to make informed decisions and uphold family values.

The event took place amid increasing investor interest in China, particularly in sectors aligned with the country’s long-term innovation goals. UOB’s trading activity related to Hong Kong rose by nearly 80% from 2024 to 2025, indicating a growing appetite for opportunities in China’s growth sectors.

Participants also engaged in discussions with industry leaders, exploring themes of entrepreneurship, innovation, and responsible business stewardship. Yeo Zong Han, a participant, noted the value of witnessing advancements in robotics and the potential for collaboration.

Beyond the programme, participants join UOB Private Bank’s alumni network, fostering a community of future leaders who can share experiences and insights. This initiative underscores UOB’s commitment to supporting generational success and sustainable wealth stewardship.

Singapore Management University’s (SMU) Master of Business Administration (MBA) has climbed to 3rd place in Asia in the 2027 QS Global MBA Rankings, marking its highest regional position to date and 41st globally. This achievement reflects a consistent rise over the past three years, moving from 6th in 2024 to 5th in 2025, and 4th in 2026. The programme is now the second highest ranked MBA in Singapore and remains within the top 10% of over 400 MBA programmes worldwide.

The SMU Master of Science in Applied Finance (MAF) also secured 3rd place in Asia and 39th globally in the 2027 QS Master’s in Finance Rankings. Notably, it is the only finance master’s programme in Singapore to be included in the rankings, which expanded from 248 to 319 programmes this year.

Both programmes excelled in Thought Leadership, with the MBA ranking 33rd and the MAF 19th globally. This underscores the Lee Kong Chian School of Business’s (LKCSB) reputation for influential research and ideas. Almost all faculty members hold doctorates, enriching the classroom with deep academic expertise and research insights.

Deputy Dean (Education) at LKCSB, Professor Shantanu Bhattacharya, commented, “Our MBA and MAF both ranking 3rd in Asia is a strong affirmation of the quality of an SMU business education and the progress we have made over several years.” He highlighted the programmes’ impact on graduate employability, with 86% of MBA and 78% of MAF graduates securing employment within six months of graduation.

The rankings assessed programmes across five areas: Employability, Alumni Outcomes, Thought Leadership, Value for Money, and Diversity, drawing extensive feedback from employers and academics globally.