Industry News

The Financial Planning Association of Singapore (FPAS) and GoalsMapper have entered into a Memorandum of Understanding (MOU) to collaborate on initiatives that aim to strengthen the financial advisory profession in Singapore. Signed on 12 December 2025, the MOU focuses on elevating industry standards and supporting the continuous professional development of financial planners.

This partnership will provide FPAS members with access to enhanced training and learning opportunities, enabling them to deliver more effective advisory outcomes. A key component of the MOU is the integration of GoalsMapper’s GM Mortgage solution, which aims to improve mortgage education within the advisory community. Given that property financing is a significant financial commitment for many, this initiative seeks to equip advisers with the necessary knowledge to offer competent and transparent advice.

Dr. Ben Fok, President of FPAS, highlighted the importance of the collaboration, stating, “Our focus has always been on the advancement of the financial planning profession. Collaborations like this enable us to introduce more pathways for skills development, raise advisory standards, and better support the evolving needs of our members.”

GoalsMapper CEO, Dato’ Wayne Chen, expressed enthusiasm for the partnership, noting, “At GoalsMapper, we are committed to redefining financial planning and to empower everyone to make better financial decisions. Partnering with leading associations such as FPAS allows us to contribute to the professional growth of the advisory community.”

The MOU marks the beginning of a concerted effort to enrich industry capability, enhance advisory quality, and deliver greater value to both practitioners and the public. This collaboration underscores a shared commitment to aligning industry practices with evolving consumer needs, ultimately fostering a future-ready financial advisory ecosystem in Singapore.

Jobstreet by SEEK in Singapore has unveiled key career trends for 2025, highlighting a rise in retrenchments and a decline in job vacancies, according to Singapore’s Ministry of Manpower. As jobseekers prepare for 2026, the demand for tech roles and AI skills is at the forefront, with employers increasingly valuing these competencies.

Jobstreet’s data indicates a significant surge in applications for tech roles, with a 169% increase in the information and technology sector from November 2023 to October 2025. This trend underscores the importance of “new collar” tech skills, which blend both soft and technical abilities. Skills such as customer service, relationship management, troubleshooting, computer science, and Python programming are particularly sought after.

AI fluency has emerged as a crucial qualification, with 54% of employers considering it during hiring processes and 19% viewing it as a primary factor, according to Jobstreet’s Hiring, Compensation and Benefits 2025 report. Additionally, keyword searches for “data analysis” and “automation” in entry-level jobs have risen by 12% and 93%, respectively.

The report also highlights a shift in workplace priorities, with 49% of employees aged 25-34 indicating a change in their priorities since starting their roles. Mental health and family responsibilities have become top concerns for many workers.

As the job market evolves, fresh graduates and those returning to the workforce are encouraged to focus on attitude over experience, with 64% of employers willing to hire less experienced candidates who demonstrate a positive outlook. Looking ahead, jobseekers are advised to stay informed and adaptable to thrive in the competitive landscape of 2026.

Changi Airport is inviting the public to explore its future with the T5 In the Making exhibition, set to open on 6 January 2026 at Terminal 3. This immersive experience, organised by the Ministry of Transport, the Civil Aviation Authority of Singapore, and Changi Airport Group, will showcase the vision and innovations behind the upcoming Terminal 5 (T5) through interactive displays and experiential zones. Registration for the exhibition is now open.

The exhibition, free for all visitors, will run until March 2026 and is divided into five zones. It highlights Changi Airport’s strategic evolution and the technologies being developed to address challenges such as manpower shortages, an ageing population, and climate change. Visitors can engage with interactive Artificial Intelligence (AI) experiences and view detailed scale models of T5 and the larger Changi East development.

Zone 1, titled ‘Another Bold Singapore Chapter’, demonstrates how T5 is designed to support Asia’s growing air travel demand and maintain Singapore’s competitive edge. In Zone 4, ‘Cool Tech Warm Touch’, visitors will see the innovative technologies planned for T5 to ensure world-class service. The exhibition concludes with Zone 5, ‘Come Imagine with T5’, featuring an AI-powered mural.

T5 is part of the Changi East development, which includes a third runway and additional infrastructure. Construction began in May and is expected to be completed in the mid-2030s. The development is anticipated to create significant economic opportunities and jobs, reinforcing Changi Airport’s status as a premier aviation hub.

Visitors can register for the exhibition via the official website, with slots available on a first-come, first-served basis. Walk-ins are also welcome, subject to availability.

Tianlong Services, a corporate and accounting service provider in Singapore, has launched its Smart Bookkeeping Model, which combines artificial intelligence (AI) with industry-specific plugins to enhance everyday accounting tasks. This innovative framework aims to streamline processes whilst ensuring human oversight at every stage, reflecting a growing trend in Singapore’s corporate services sector towards hybrid accounting models.

The Smart Bookkeeping Model is designed to reduce repetitive tasks without sacrificing the contextual insights provided by accounting professionals. “We are seeing growing interest in accounting systems that balance automation with professional judgement,” said a representative from Tianlong Services. The model employs AI-assisted data processing, complemented by human review, to maintain consistency and clarity in bookkeeping.

To facilitate the transition to this new system, Tianlong Services has implemented a structured onboarding process. This includes preliminary system access to review existing records, a consultation call to understand the client’s business model, and the establishment of a dedicated WhatsApp group for ongoing communication. Most organisations are expected to be fully operational under the new model within a month.

The launch is part of Tianlong’s long-term vision to develop an integrated accounting operating system for Singaporean companies. This future platform aims to combine AI-powered preparatory work with structured human review, providing businesses with a comprehensive ecosystem for bookkeeping, compliance, and financial reporting. “Our goal is to bridge automation with accountability,” a Tianlong Services representative stated, highlighting the need for accounting systems to evolve alongside regulatory changes and business growth.

Chris Colahan has been appointed as the Head of Commercial Property & Casualty for Chubb in the Asia Pacific region, effective 9 February 2026. In his new role, Colahan will oversee the operations of Chubb’s Commercial Property & Casualty portfolio across the region, reporting to Marcos Gunn, Regional President of Chubb Overseas General, Asia Pacific, and Brian Church, Division President, Property & Casualty, Chubb Overseas General.

Colahan’s appointment is a strategic move for Chubb as it seeks to strengthen its presence in the Asia Pacific market. With a robust background in the insurance industry, Colahan previously served as the Regional President for Asia Pacific at AIG and held senior positions at Berkshire Hathaway Specialty Insurance and RSA Insurance. His extensive experience and understanding of the region are expected to drive Chubb’s growth and enhance its service offerings.

Marcos Gunn expressed confidence in Colahan’s leadership, stating, “We are delighted that Chris is joining the Chubb team. He is a proven industry leader, with an extensive and deep understanding of the region, which will be invaluable as we continue to build our business in Asia Pacific.”

Chubb, a global leader in insurance, operates in 54 countries and territories, providing a wide range of insurance products and services. The company is known for its strong financial standing and comprehensive distribution capabilities. As Colahan steps into his new role, Chubb anticipates continued success and innovation in its Property & Casualty business under his guidance.

Singapore’s business leaders are steadfast in their commitment to sustainability, even as they navigate geopolitical and economic challenges, according to a report by Schneider Electric and United Nations Global Compact Network Singapore (UNGCNS). The survey, involving 1,000 business leaders, found that 91% prioritise sustainability, with 49% marking it as a “high priority”.

Energy security concerns are a significant driver, prompting 62% of respondents to increase sustainability expenditure. Companies are focusing on digitisation, green solutions, and supply chain sustainability. Notably, 93% are leveraging or planning to use artificial intelligence (AI) for sustainability, particularly in energy optimisation and predictive maintenance.

Yoon Young Kim of Schneider Electric highlighted the “glocal” approach, combining global strategies with local adaptations, as key to Singapore’s leadership in sustainability. Dr Bicky Bhangu of UNGCNS noted the alignment between corporate actions and national priorities, emphasising the potential for Singapore to lead in shaping a sustainable future.

Despite the commitment, there is caution, with only 33% of leaders publicly disclosing targets, down from 58% in 2023. Many have delayed targets by one to two years. However, engagement with government frameworks like the Singapore Green Plan 2030 has increased, with 83% of executives reporting heightened involvement.

The report underscores Singapore’s potential to lead regional sustainability efforts, with nearly three-quarters of respondents seeing the nation as a significant player in promoting cooperation.

Padang & Co, a Singapore-based innovation company, has unveiled its Southeast Asia Green Economy Landscape 2025 report, mapping 1,089 startups, scale-ups, and SMEs across six countries. The report identifies seven high-impact sectors crucial for the region’s energy transition, highlighting opportunities in distributed energy resources, grid flexibility, and clean energy imports. It emphasises the need for coordinated action to overcome fragmentation, permitting barriers, and limited grid readiness that currently hinder renewable energy expansion.

The report outlines urgent priorities for Singapore, Malaysia, Indonesia, Thailand, Vietnam, and the Philippines, focusing on sectors such as Nature, Agriculture & Food, Energy Transition, and Industrial Decarbonisation. It suggests that a full green transition could unlock $120b and create approximately 900,000 jobs by 2030. Adam A. Lyle, Executive Chairman of Padang & Co, stated, “Southeast Asia’s green economy cannot advance through innovation alone; we must build the systems, partnerships, and regulatory environments that allow solutions to scale.”

Singapore leads the region with 494 green economy startups, accounting for 45% of all mapped startups in the SEA-6. The report highlights Singapore’s need to enhance system flexibility and decarbonise industrial clusters. It also identifies five key innovation areas, including distributed energy resources and clean energy imports.

The report serves as a practical guide for corporates, governments, and investors to support the companies building the region’s green economy. Derrick Chiang, CEO of Padang & Co, noted, “The strongest opportunities emerge when corporations, governments, and entrepreneurs work side by side.” As Southeast Asia faces rising climate risks, the report provides a roadmap for enabling cross-sector collaboration and supporting climate-tech solutions.

Toll Group, a global leader in transportation and logistics, has unveiled Singapore’s first decarbonisation hub dedicated to electric supply vessels. This initiative, developed in partnership with Yinson GreenTech, marks a significant step towards sustainable port operations and aligns with Singapore’s Green Plan 2030. The 12-month proof of concept is expected to reduce emissions by up to 80% per trip, saving over a tonne of CO₂ per trip.

The hub integrates electric marine transport, smart warehousing, and efficient cargo lorrying into a digitally connected operation. This ensures clean and responsive logistics for customers in Singapore, one of the world’s most dynamic logistics hubs. Jonathon Kottegoda-Breden, President Asia Logistics at Toll Group, stated, “By establishing Singapore’s first decarbonisation hub dedicated to electric supply vessels, we aim to enable broader adoption of green maritime technologies, reduce fossil fuel dependency, and cut emissions throughout the region.”

Strategically located near Changi Airport and Singapore’s Eastern Anchorages, the hub enhances rapid air-sea connectivity and efficient trailer access. Purpose-built charging infrastructure and smart cargo handling equipment will maximise uptime and ensure predictable turnarounds for time-sensitive cargo. Rajeev Sood, Executive Vice President – Energy, Marine & Renewables at Toll Group, added, “By integrating electric vessels with smart infrastructure and digital processes, we’re showing how sustainable solutions can deliver both operational efficiency and significant emissions reductions.”

The launch event featured a ribbon-cutting ceremony and a product tour, highlighting the hub’s advanced infrastructure and electric vessel technology. As Toll Group advances sustainable logistics, it remains committed to supporting businesses worldwide.

Tata Consultancy Services (TCS) has launched the Google Cloud Gemini Experience Centre in Singapore, a cutting-edge facility designed to foster innovation through agentic AI. Situated within TCS’ Singapore Global Innovation Labs, the centre offers a tech-focused environment for enterprises across various sectors to co-create, prototype, and scale transformative business solutions.

The collaboration between TCS and Google Cloud allows Singaporean businesses to leverage Google’s Gemini models and agentic AI to enhance agility, comply with regulatory standards, and deliver personalised customer experiences. Key industries such as banking, retail, manufacturing, transport, and healthcare can work with TCS and Google Cloud to integrate AI into their operations, improving efficiency and security.

Punit Agarwal, TCS’ Country Head for Singapore, highlighted the significance of the centre, stating, “Singapore is a hub of innovation and digital adoption, and the new Google Cloud Gemini Experience Centre enables organisations to combine human expertise with agentic AI to reimagine their businesses.”

The centre provides access to Google Cloud’s advanced AI technologies, including the Vertex AI platform and BigQuery, facilitating rapid prototyping and scalable AI application development. Serene Sia, Google Cloud’s Country Director for Singapore and Malaysia, emphasised the centre’s role in accelerating digital transformation and enhancing customer engagement.

This initiative is part of TCS’ broader commitment to expanding its innovation ecosystem in Singapore, which includes collaborations with local universities and the establishment of the TCS GoZero Hub. The centre aims to position Singaporean enterprises at the forefront of AI-enabled business transformation.

Magna Systems has successfully designed and built Southeast Asia’s first full Ultra High Definition (UHD) and Internet Protocol (IP) processing outside broadcast (OB) lorry for Singapore’s leading media network. This state-of-the-art vehicle is set to revolutionise the region’s broadcasting capabilities by integrating advanced UHD and IP workflows, essential for high-quality production and future-proofing.

The media organisation sought to replace its ageing OB lorry with a technologically advanced model that could serve as a test bed for IP workflows, enhancing their understanding of ST-2110 design and implementation. Magna Systems was chosen for this critical project, tasked with creating a vehicle that not only supports UHD full internal processing but also facilitates seamless HD to UHD migration and remote operations over long distances.

The new OB lorry is equipped with 20 UHD cameras, including 16 wired and four wireless, and features hybrid HD compatibility, full UHD replay, and super slow-motion capabilities. Magna Systems group CEO, Matthew Clemesha, highlighted the collaborative effort involved, stating, “It was an honour to deliver this landmark project. Our team collaborated closely with the coachbuilder and client to architect the lorry from the ground up.”

The lorry, already utilised for Singapore’s National Day production, will also play a pivotal role in international events such as the Toyota World Para Swimming Championships. Patrick So, Magna Systems Director – Sales and Operations (Asia), emphasised the lorry’s significance, noting its efficiency and robust infrastructure, which positions it as a future-ready platform for premium OB production over the next decade.