Industry News

QCP Trading, a leading digital asset trading firm, has been awarded a major payment institution licence by the Monetary Authority of Singapore (MAS). This significant development, announced on QCP’s website, allows the company to expand its payment services within Singapore, reinforcing its position in the digital asset market.

The licence enables QCP Trading to offer a wider range of payment services, including account issuance, domestic and cross-border money transfers, and digital payment token services. This move is expected to bolster the firm’s capabilities in providing comprehensive financial solutions to its clients.

QCP Trading’s achievement highlights Singapore’s supportive regulatory environment for financial technology companies. The MAS licence is a testament to the firm’s compliance with stringent regulatory standards, ensuring secure and efficient payment services.

The company’s expansion of services is anticipated to meet the growing demand for digital payment solutions in the region. As digital assets continue to gain traction, QCP Trading’s enhanced service offerings are poised to cater to a broader clientele, fostering innovation in the financial sector.

Looking ahead, QCP Trading’s new licence is expected to facilitate further growth and innovation in its operations, contributing to the dynamic landscape of digital finance in Singapore.
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Banyan Group, a global hospitality company, has announced a 100-day celebration, “100 Journeys,” to mark the opening of its 100th property, Mandai Rainforest Resort by Banyan Tree in Singapore. This milestone, reflecting three decades of growth, will culminate in a week-long festival from 27 November to 3 December 2025, featuring discovery trails, wellbeing sessions, and community activities. Proceeds from the festival will support the President’s Challenge, a local charity initiative.

The celebrations, running from 1 September to 9 December 2025, aim to honour the people, places, and communities that have shaped Banyan Group’s portfolio. Ren Yung Ho, Deputy Chief Executive, stated, “100 Journeys reflects how far we’ve come and how we’ve grown. It’s a tribute to the communities that shaped us and a promise to continue creating meaningful, place-led experiences.”

Banyan Group has curated 100 experiences across its resorts, including Tibetan pottery-making, zen meditation, and eco-walks, to immerse travellers in local cultures. The initiative also highlights the Group’s commitment to environmental stewardship, with projects like coral conservation in the Maldives and bird conservation in China.

Guests are invited to share their travel stories, with 100 submissions receiving a $100 (local currency) Banyan Group e-gift card. The top three storytellers will win a complimentary stay. This initiative underscores Banyan Group’s dedication to fostering meaningful connections and sustainable travel experiences.
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IPI Singapore has announced a significant leadership transition with Michael Goh stepping into the role of Chief Executive Officer as of 1 September 2025. Goh, who has been with the organisation since its inception, succeeds Wong Lup Wai, who is retiring after a transformative tenure that began in 2019.

Under Wong’s leadership, IPI Singapore significantly enhanced its Innovation Advisory Programme and expanded strategic partnerships both locally and internationally. His efforts have been pivotal in promoting technology adoption among Singapore enterprises. Reflecting on his tenure, Wong stated, “It has been an immense privilege to lead IPI Singapore and witness its transformative impact on the innovation landscape in Singapore.”

Michael Goh, previously the Chief Operating Officer, brings over 19 years of experience in intellectual property, business and technology management, and commercialisation. His leadership has been instrumental in helping enterprises across various sectors, including manufacturing, medtech, and sustainability, to unlock growth opportunities. Goh has also initiated organisational development and digital transformation efforts to position IPI Singapore as a strategic enabler for enterprise innovation.

Expressing his vision for the future, Goh remarked, “I want to build on this to position IPI as the trusted innovation partner for Singapore enterprises, enabling them to leverage innovation to scale beyond our shores.”

As IPI Singapore enters this new chapter, the organisation aims to continue its role as a catalyst for enterprise growth, fostering impactful collaborations and cementing Singapore’s status as an innovation hub.
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Marco Polo Marine, an integrated marine logistics group, has announced significant strategic developments aimed at enhancing its growth trajectory. The company has secured its first contract for the newly launched fourth dry dock, signed a three-year Master Service Agreement (MSA) with Cyan Renewables, and is planning a Taiwan listing for its subsidiary, PKRO. These initiatives are designed to capture increasing demand in both the traditional oil and gas sector and the burgeoning renewable energy market.

The newly launched Dry Dock 4 has already secured a ship repair contract valued at approximately $3.7m (S$5m), with the vessel expected to arrive at the Batam yard by the end of August 2025. This swift contract win underscores the robust demand for Marco Polo Marine’s repair and maintenance services, particularly as global fleets age and require more upkeep.

In a move to deepen its involvement in the renewable energy sector, Marco Polo Marine’s shipyard subsidiary has entered into a three-year MSA with Cyan Renewables. This agreement will see the company providing repair, maintenance, and conversion services for Cyan’s offshore wind vessel fleet, reinforcing its role in Asia’s energy transition.

Additionally, Marco Polo Marine’s 49%-owned subsidiary, PKRO, plans to pursue a Taiwan listing by the third quarter of 2026. The listing is expected to fund fleet expansion, including commissioning service operation vessels, to tap into the rapidly growing offshore wind markets in Taiwan, South Korea, and Japan.

These strategic moves are anticipated to drive sustained earnings growth for Marco Polo Marine, with the company maintaining a “buy” recommendation and raising its target price by 16% to $0.065 (S$0.088). The developments position the company to benefit from favourable sector conditions and increased demand for specialised vessels in the offshore wind industry.
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The Civil Aviation Authority of Singapore (CAAS) and the Latin American Civil Aviation Commission (LACAC) have signed a Memorandum of Understanding (MOU) to bolster their collaboration in civil aviation training. This agreement aims to support aviation growth and elevate international civil aviation standards across Latin America.

The MOU was signed by Ng Tee Chiou, Deputy Director-General of CAAS, and Ingrid Azucena Zelaya Florian, President of LACAC, during the CVII Meeting of the Extended Executive Committee of LACAC in Guatemala. This partnership, which began in 1998, has already seen CAAS award nearly 170 fellowships and train over 1,250 Latin American aviation professionals.

Under the new agreement, CAAS will provide 75 fellowships over the next three years for aviation professionals from LACAC’s 22 member states, including Brazil, Mexico, and Argentina. These fellowships will cover specialised courses at the Singapore Aviation Academy (SAA) in areas such as aviation safety and management. Additionally, CAAS will conduct three in-region training programmes tailored to regional needs.

The enhanced MOU introduces three initiatives to develop young aviation professionals and promote bilateral knowledge sharing. These include scholarships under the Singapore-ICAO Next Generation of Aviation Professionals Scholarship Programme, a Directors-General of Civil Aviation Programme, and high-level exchanges.

Ng Tee Chiou emphasised the importance of skilled manpower for the region’s growth, stating, “CAAS is providing more fellowships and in-region trainings to help support human talent development.” Ingrid Azucena Zelaya Florian added, “This agreement will allow us to continue strengthening our aeronautical technical capabilities in Latin America and the Caribbean.”
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John Elkovich has been appointed as the Chief Executive Officer of St. James’s Place (SJP) in Singapore, effective 1 September 2025. In his new role, Elkovich will spearhead the Singapore office’s efforts in market expansion, business development, and enhancing client services. He will report to Oliver Wickham, Partnership Director for Asia and the Middle East.

Elkovich joined SJP as Head of Partnership in September 2024 and served as Interim CEO of the Singapore office since April this year. His extensive career in financial services spans over three decades, covering wealth management, insurance, and private banking in both Singapore and Australia. He is recognised for his strategic leadership and ability to drive innovation and build strategic partnerships.

Oliver Wickham expressed confidence in Elkovich’s leadership, stating, “John’s proven leadership and deep experience in financial services will be instrumental in guiding our next phase of growth. Singapore continues to be a centre of financial advice excellence, and I’m excited to build on that strength—attracting more high-calibre professionals to St. James’s Place as demand for quality advice continues to rise.”

Elkovich commented on his appointment, saying, “I’m honoured to lead SJP’s Singapore office at this pivotal time. Our success is driven by world-class advisers, a strong client-first culture, and rising demand for cross-border expertise. As CEO, I’m focused on deepening that impact — by attracting top talent, fostering innovation, and ensuring we remain a trusted partner for clients.”

St. James’s Place, founded in the UK in 1991, is a leading financial advisory group with a significant presence in Asia since 2014. The company provides tailored financial advice to nearly one million clients globally.
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RHB has released a report titled “Market Strategy Positioning For S-REITs & High-Dividend Leaders,” which outlines a constructive yet selective approach to Singapore equities. The report indicates that the current economic environment, characterised by a benign inflation backdrop and anticipated cuts to the US Federal Funds Rate, is favourable for Singapore Real Estate Investment Trusts (S-REITs) and high-dividend equities.

The report suggests that the decline in the Singapore Overnight Rate Average (SORA) and 10-year yields will boost demand for S-REITs, particularly industrial and office REITs. It also highlights the potential for high-quality domestic income franchises in consumer staples, healthcare, and land transport sectors to benefit from regulator-supported initiatives aimed at increasing liquidity in small- and mid-cap stocks.

RHB maintains its 2025 GDP growth forecast for Singapore at 2%, with potential upside to 3%, driven by improved tariff clarity and a firmer risk appetite. However, the report advises caution due to uncertainties surrounding US-China trade policies and a potential slowdown in exports in the second half of 2025.

The report underscores the importance of prioritising high-quality, income-generating firms and suggests increased exposure to S-REITs and sustainable high-dividend equities. Analysts at RHB have identified top picks within the S-REIT sector, including AIMS APAC REIT, CapitaLand Ascendas REIT, and Keppel REIT, citing their potential for attractive returns.

In conclusion, RHB’s report provides a strategic framework for investors looking to capitalise on the current economic conditions in Singapore, with a focus on sectors poised for growth amidst declining interest rates.
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Digital Edge Singapore Holdings Pte Ltd has announced the appointment of Emmeline Tang as its new Chief Product Officer (CPO). With a robust background in the data centre industry, Tang will be responsible for steering the company’s product vision and accelerating innovation across its hyperscale and retail offerings. Her role will focus on delivering next-generation infrastructure solutions tailored for the AI era.

Tang joins Digital Edge from Microsoft, where she served as Director of Standards for Global Operations. Her career spans significant achievements, including restructuring operational standards for over 400 data centres and mitigating supply chain risks during COVID-19 disruptions. She has also been instrumental in scaling engineering solutions across eight new markets within a year.

John Freeman, CEO of Digital Edge, expressed enthusiasm about Tang’s appointment, stating, “Her deep technical expertise, operational rigour, and passion for innovation make her uniquely suited to lead our product organisation as we scale our platform to meet the explosive demands of AI and digital transformation.”

In her new role, Tang will oversee product strategy across the entire data centre lifecycle, from site selection and design standardisation to sustainability and customer experience. She will collaborate closely with go-to-market, engineering, and operations teams to ensure alignment with customer needs and business growth.

Tang, who holds an MBA from London Business School and is a Chartered Engineer with the Institution of Engineering and Technology UK, remarked, “We have a tremendous opportunity to deliver high-performance, sustainable infrastructure solutions that empower our customers in the AI age.”

Digital Edge, headquartered in Singapore, is a leading data centre platform in Asia, backed by global infrastructure investor Stonepeak. The company operates across nine countries in Asia Pacific, providing data centre and fibre services with over 11GW of secured IT power.
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MSIG Singapore has announced a strategic partnership with MSIG Speciality Marine to expand its marine insurance capabilities. This collaboration will allow MSIG Singapore to underwrite Protection and Indemnity (P&I) risks directly from its Singapore office, addressing the growing demand for comprehensive P&I solutions amidst evolving maritime risks.

The global marine and offshore energy insurance market is valued at approximately $39b, with Asia-Pacific contributing nearly 30% of this market. The region’s P&I segment alone is valued between $1 billion and $1.5b, with a projected growth of $200m by 2030, according to the International Union of Marine Insurance (IUMI).

The partnership aims to deliver a robust suite of marine insurance capabilities, focusing on P&I offerings. Mack Eng, CEO of MSIG Singapore, stated, “Our strategic collaboration with MSIG Speciality Marine marks a transformative step forward in redefining our marine insurance proposition.” Edwin Tan, Head of MSIG Speciality Marine Singapore, added, “This powerful synergy enables us to deliver fast, precise, and specialised service throughout Asia-Pacific.”

MSIG Singapore, a leading general insurer with over 100 years of local presence, is part of the MSAD Insurance Group, one of the largest general insurance groups globally. MSIG Speciality Marine operates as a Marine Managing General Agent, backed by approximately 30 risk carriers, and offers a specialised portfolio across nine core product lines.

This partnership positions MSIG Singapore to capitalise on Asia’s dynamic maritime expansion, reinforcing Singapore’s status as a premier regional hub for insurance and shipping.
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S&P Global Ratings has assigned a ‘BBB+’ long-term issue rating to a tier 2 subordinated corporate bond proposed by Fubon Life Singapore Pte. Ltd. The rating is underpinned by an unconditional and irrevocable subordinated guarantee from its parent company, Fubon Life Insurance Co. Ltd., based in Taiwan.

The guarantee ensures that Fubon Life will cover principal and interest payments if Fubon Life Singapore cannot meet its obligations. This assurance aligns the bond’s rating with other subordinated obligations issued by Fubon Life. The bond, which qualifies as tier 2 regulatory capital, will be consolidated under the parent company’s balance sheet, with no significant impact on Fubon Life’s financial structure.

The bond has a maturity of 10.25 years, featuring a call option after the 10th anniversary within a three-month window before maturity. Notably, the issuance lacks step-up or interest deferral terms. The proceeds are intended to bolster Fubon Life’s regulatory capital adequacy ratio. Any significant changes to the bond’s terms or amount could influence the rating.

This development highlights Fubon Life’s strategic financial management and commitment to maintaining robust capital adequacy, ensuring stability and confidence among investors.
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