Industry News

The winners of the 2025 FedEx/JA International Trade Challenge Asia Pacific finals have been announced, with Team Spicy Noodles taking the top spot. The competition, held in Singapore, saw 54 students from nine markets, including Hong Kong SAR, Indonesia, and Vietnam, tasked with creating a market entry strategy for an eco-friendly product aimed at the French market. The challenge focused on upcycling discarded textiles into sustainable consumer goods.

Team Spicy Noodles, comprising Jamie Smith from the Republic of Korea and Kathy Nguyen from Vietnam, impressed judges with their concept of transforming discarded textiles into custom embroidered artwork. The runner-up teams included Team ReTex from Thailand and Vietnam, proposing residential solar panels, and Team Innovement from the Philippines and Hong Kong SAR, who developed a smart wall panel from textile waste.

Kawal Preet, president of Asia Pacific at FedEx, highlighted the importance of fostering creativity and a global mindset among young entrepreneurs. “By fostering their creativity, determination, and global mindset, we’re investing in the future of commerce,” she stated.

The competition, organised by FedEx and Junior Achievement (JA), aims to inspire young leaders to collaborate and innovate. Maziar Sabet, president and CEO of JA Asia Pacific, emphasised the transformative experience for participants, stating, “This challenge pushed us beyond textbook theories into real-world problem-solving.”

For the first time, winners will visit FedEx operations facilities to gain insights into global logistics, enhancing their entrepreneurial journeys.
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The Institute of Valuers and Appraisers, Singapore (IVAS), in collaboration with SMU Academy, is set to launch the Chartered Valuer and Appraiser (CVA) Programme across Singapore, Indonesia, and Thailand. This initiative aims to strengthen the business valuation profession and develop regional talent. The programme, first introduced in 2016, is Asia’s pioneering certification in business valuation, aligned with International Valuation Standards.

Announced at the IVAS-IVSC Business Valuation Conference 2025, the partnership was formalised through a Memorandum of Understanding signed by representatives from the Accounting and Corporate Regulatory Authority and SMU Academy. The event was attended by key figures, including Indranee Rajah, Minister in the Prime Minister’s Office.

SMU Academy will oversee the programme’s comprehensive delivery, from curriculum development to training and assessment. A new hybrid format will be introduced, featuring weekday evening classes and in-person weekend sessions. The programme will commence in Singapore in January 2026, followed by Indonesia and Thailand in July 2026.

The CVA Programme offers a structured pathway for professionals in fields such as accounting, finance, and law, covering areas like financial reporting and intellectual property. Successful participants will earn the Associate CVA designation, with the opportunity to advance to full CVA status upon meeting experience requirements.

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TOKEN2049, the world’s largest crypto event, is set to break records with its upcoming Singapore edition, welcoming over 25,000 attendees from 160 countries. Scheduled for 1–2 October at Marina Bay Sands, the event will host more than 500 exhibitors across five floors and feature 1,000 side-events throughout Singapore. The final rounds of tickets are currently on sale, with prices set to rise to $599 on 29 August.

This year’s TOKEN2049 introduces the TOKEN2049 Origins Hackathon, a 36-hour event for 160 developers, and the second edition of the NEXUS Startup Competition, in collaboration with venture investors Dragonfly, Pantera, and Maelstrom. The event promises a festival-like atmosphere with activities such as rock climbing, ziplining, and live performances.

Headline speakers include Eric Trump and Donald Trump Jr., co-founders of World Liberty Financial, Tom Lee of Fundstrat, Vlad Tenev of Robinhood, Paolo Ardoino of Tether, Balaji Srinivasan, and Arthur Hayes of Maelstrom. Title sponsors include OKX, BloFin, Coinbase, and others.

Alex Fiskum, Co-Founder of TOKEN2049, expressed excitement for the event, stating, “This will be our most ambitious edition yet, with 25,000 attendees and 500 exhibitors as the digital asset industry takes over the city for TOKEN2049 Week.”

TOKEN2049 Singapore aims to be the global stage for the industry’s leading companies and projects, culminating with the Formula 1 Grand Prix weekend. For more information, visit the TOKEN2049 website.
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Atlas Consolidated has successfully closed a $181m Series B funding round, spearheaded by Tin Men Capital, with additional investments from Getz Inc and Woodside Holdings Investment Management. This significant financial boost is set to propel the global expansion of HugoHub, Atlas’s modular cloud-native digital banking platform.

HugoHub, a complete core-to-customer Banking-as-a-Service (BaaS) platform, is designed to modernise banking by reducing technology costs by up to 90% and operational expenses by 75% to 80%. The platform allows banks to innovate rapidly, compete with challenger banks, and improve customer-to-staff ratios. “This investment marks a pivotal step in our mission to build better banks through technology,” said David Fergusson, CEO of Atlas Consolidated.

The funding will enable HugoHub to expand into new markets, offering traditional financial institutions a flexible, digital-first banking solution. Jeremy Tan, Co-Founder and Managing Partner of Tin Men Capital, expressed enthusiasm for supporting Atlas’s innovative approach, which aims to help banks in their digitalisation journey.

HugoHub’s modular design allows for step-by-step deployment, avoiding disruptive overhauls and making financial inclusion more sustainable. The platform’s cloud-agnostic architecture and AI-driven customer engagement tools further enhance its appeal to banks looking to modernise without the risks associated with full-scale system replacements.

With this new capital, Atlas Consolidated is poised to meet growing demand and extend its reach, particularly in underserved markets across Southeast Asia and beyond. The company continues to focus on building efficient, inclusive, and sustainable banking systems worldwide.
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Dentons Rodyk has announced that Wong Kai Yun, a distinguished family law practitioner, will join the firm as a senior partner in its family and matrimonial practice on 16 November. Wong, who previously served as Co-Managing Director at Chia Wong Chambers LLC, brings over 20 years of experience in handling complex matrimonial cases, particularly those involving high-net-worth individuals and expatriates.

Wong is renowned for her strategic handling of sensitive family disputes and her expertise in navigating multi-jurisdictional issues. She currently holds the position of President of the Asia-Pacific Chapter of the International Academy of Family Lawyers and is a registered practitioner with the Society of Trust and Estate Practitioners. Additionally, she is an accredited mediator with both the Singapore Mediation Centre and the Singapore International Mediation Institute.

Joining Wong at Dentons Rodyk are Jonathan Chan, a senior associate, and Alexander Crawford, a paralegal, both of whom will transition from Chia Wong Chambers LLC in October. Their addition is expected to bolster Dentons Rodyk’s ability to provide comprehensive cross-border support to its international clientele.

Dentons Rodyk, part of the world’s largest law firm, offers a full suite of legal services across more than 160 locations globally. The firm’s extensive network and resources will further empower Wong and her team to deliver enhanced legal solutions to clients worldwide.
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Rolls-Royce and Microsoft have jointly published a position paper advocating for the adoption of Hydrotreated Vegetable Oil (HVO) as a sustainable backup power solution for Singapore’s data centres. The paper aligns with Singapore’s Green Data Centre Roadmap and its net-zero 2050 targets, emphasising the need for immediate action to decarbonise the critical infrastructure supporting the digital economy and AI.

The position paper outlines several key areas, including the urgent need for HVO as a readily deployable solution compatible with existing infrastructure. It also calls for regulatory clarity to drive adoption through harmonisation, certification, and incentive schemes. The paper stresses the importance of partnerships between multinational corporations to advance Singapore’s innovation and sustainability goals.

HVO offers significant environmental benefits, including up to a 90% reduction in CO2 emissions and an 80% reduction in particulate matter compared to conventional diesel. It is also free from aromatic compounds, which are harmful to both health and the environment. Importantly, HVO can be used in existing diesel generators without major modifications, making it a practical choice for data centres.

Despite its advantages, HVO remains two to three times more expensive than fossil diesel, posing a barrier to widespread adoption. The paper suggests that targeted regulatory support, similar to the Maritime and Port Authority’s Green Ship Programme, could help bridge this cost gap. By doing so, Singapore could position itself as a hub for certified renewable fuels, attracting global investment and enhancing its role in the regional energy transition.

The collaboration between Rolls-Royce and Microsoft underscores a commitment to reducing operational emissions and fostering a sustainable data centre ecosystem. The paper concludes that a collaborative approach involving industry stakeholders and policymakers is essential to accelerate the transition to low-carbon solutions, thereby advancing Singapore’s climate objectives and economic growth.
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Demand for luxury homes in Singapore’s core central region (CCR) has maintained strong momentum in Q2 2025, with sales volumes surpassing the average number of units sold over the past two years. According to OrangeTee’s latest report, 141 luxury homes, each priced above $5m, were transacted, exceeding the quarterly average of 125 units recorded in 2023 and 2024.

The total transaction value for these luxury homes increased to $1.377b, reflecting sustained demand. The secondary market played a significant role, with 120 resale luxury homes sold, surpassing the quarterly average of 94 units over the past two years. Additionally, 19 new luxury homes were sold, with notable contributions from developments such as 21 Anderson and Watten House.

Ultra-luxury flats, priced at least $10m, saw 14 transactions in Q2. The most expensive unit, a 5,285 sqft flat at Skywaters Residences, sold for $30.87m in June. Good Class Bungalow (GCB) sales also surged, with nine units transacted, up from two in Q1.

Christine Sun, Chief Researcher & Strategist at OrangeTee-Realion Group, noted the appeal of GCBs as investment-grade assets amidst global trade uncertainties. The report suggests that Singapore’s stable residential market continues to attract high-net-worth individuals, with upcoming project launches in the CCR expected to further stimulate market activity. Despite potential geopolitical challenges, the luxury property market is anticipated to remain robust.
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Genius Mind has announced a significant expansion of its services to include coding, financial literacy, and artificial intelligence (AI) skills. This initiative aims to equip children with essential, future-ready skills in today’s digital-first world.

The agency has added over 500 educators specialising in these new areas, complementing its existing pool of more than 10,000 academic tutors. This expansion reflects a growing demand for tailored learning in enrichment areas. Coding lessons are structured to cater to students at various stages, from beginner-friendly platforms like Scratch for young children to more advanced languages such as Python, JavaScript, and Java for older students. This approach ensures that students, ranging from four-year-olds to teenagers, can develop problem-solving and logical thinking skills.

In addition to coding, Genius Mind is introducing financial literacy and AI-focused lessons. These programmes aim to provide children with a solid foundation in money management and an understanding of emerging technologies. By teaching practical skills like saving and budgeting alongside AI concepts, the agency addresses parents’ desire for a holistic education that prepares children for life beyond school.

Genius Mind’s efficient Telegram-based system allows parents to connect with qualified tutors within two hours, ensuring quick and personalised matches. Founded by Gary Ong, who has over 12 years of industry experience, the agency has built a reputation for trust, transparency, and results. With this latest expansion, Genius Mind reaffirms its commitment to being a forward-looking education partner dedicated to students’ long-term growth. “Private tuition has always been about helping students do well in school,” Ong said. “Today, it must also prepare them for the world they will grow into.”
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Seco Tools has unveiled a new digital tool designed to assist its production units in achieving ambitious sustainability targets. The Industrial Sustainability Assessment, initially launched in 2023, aims to streamline sustainability efforts across Seco’s global sites by providing a structured approach to assess and improve environmental and social practices.

The tool, now digitised in MyPages, helps sites track their progress towards Seco’s global sustainability goals, which include achieving 90% circular waste by 2030 and Net-Zero operations by 2035. It covers key areas such as People and Communities, Climate Biodiversity and Circularity, Site Specific sustainability, and Supplier management. The assessment defines six levels of sustainability, from basic legal compliance to best practices, allowing sites to identify and prioritise areas for improvement.

Seco’s initiative was co-developed with sites in Sweden and the Netherlands, ensuring the tool is practical and user-friendly. Since its digital rollout in 2024, the tool has enabled sites to create action plans, track progress, and share best practices, enhancing their sustainability performance.

Looking ahead, Seco is exploring the potential for an externally adapted version of the tool for stakeholders and customers. This move could extend the tool’s benefits beyond Seco’s operations, promoting broader sustainability practices in the industry.
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Japanese home furnishing giant Nitori has unveiled its largest store outside Japan in Singapore’s Bugis Junction. The expansive 31,000-square-foot store aims to cater to the growing demand for quality home furnishings in Southeast Asia. This strategic move underscores Nitori’s commitment to expanding its footprint in the region, offering a wide range of products from furniture to home accessories.

Located in the heart of Singapore, the new store is set to become a key destination for home enthusiasts. Nitori’s decision to open its largest overseas outlet in Singapore reflects the city-state’s strategic importance as a retail hub in Asia. The store will feature an extensive selection of Nitori’s signature products, known for their affordability and quality.

The opening of the Bugis Junction store is part of Nitori’s broader strategy to increase its presence in international markets. By choosing Singapore, Nitori taps into a diverse and affluent consumer base, aligning with its goal to become a global leader in the home furnishing industry.

As Nitori continues to expand its international operations, the Singapore store is expected to play a pivotal role in the company’s growth strategy. The launch not only enhances Nitori’s brand visibility but also strengthens its competitive position in the Southeast Asian market.
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