Industry News

Fingular, a Singapore-based global fintech holding, has unveiled its Smart Limit solution in Malaysia, providing a digital consumer finance option that allows users to access funds flexibly and quickly. The service, which can be activated online in just five minutes, is initially available to existing Tambadana customers and will expand to AhaPay BNPL users before opening to the general public in March 2026.

The Smart Limit offers a modern alternative to traditional financing, featuring a fully digital onboarding and risk-scoring process. Customers can complete the application and receive approval in under five minutes. The service supports repayments via e-wallets, FPX transfers, and direct debit from bank accounts. Future enhancements will include top-ups, additional repayment options, and expanded usage channels, alongside a 30-day grace period and upcoming rewards and cashback programmes.

Maksim Chernushchenko, CEO of Fingular, highlighted the product’s relevance to Malaysia’s burgeoning digital economy, noting its potential to serve the near-prime market segment often overlooked by traditional banks. “With this launch, we continue our expansion into the near-prime segment—a market that remains underserved or overlooked by traditional banks,” he said.

Fingular, founded in 2021 by Maxim Chernushchenko and Vadim Gurinov, aims to build a comprehensive neo-bank promoting financial inclusion across Asia and the Middle East. The company operates in multiple markets, including Indonesia, Malaysia, and India, offering digital financial products tailored to local needs.

Hong Leong Finance (HLF) has inaugurated its next-generation branch at Punggol Coast Mall, aiming to capitalise on the rapidly expanding residential and commercial area. The branch, which opened on 10 November 2025, introduces several digital innovations, including a dynamic LED art wall and augmented reality (AR) experiences, as part of HLF’s commitment to enhancing customer engagement and digital transformation.

The new branch is designed to cater to the evolving needs of Punggol’s growing population, which has reached approximately 190,000. HLF President Ang Tang Chor highlighted the area’s potential, stating, “Punggol’s population has been rising rapidly, and with major developments such as the Punggol Digital District, we see demand potential for our financial products and services.”

In addition to the branch opening, HLF has revamped its corporate website to improve user experience, reflecting its focus on a seamless, omnichannel approach. The updated website offers enhanced navigation and interactivity, ensuring customers can easily access information and services.

The Punggol branch features privacy-enhanced teller booths and a dedicated SME Centre, providing a secure and personalised environment for financial consultations. The branch also incorporates sustainability elements, such as energy-efficient lighting and green-certified materials.

A standout feature is the AR experience with Ray, a digital dinosaur that educates customers about the HLF Digital app. This initiative exemplifies how technology can simplify complex information, making it more accessible and engaging.

The new branch and digital enhancements are part of HLF’s broader strategy to integrate technology with personalised service, ensuring customers receive a comprehensive and modern banking experience.

SGX Mainboard-listed Boustead Singapore Limited has announced its unaudited financial results for the first half of the financial year ending 30 September 2025. The group’s revenue for 1H FY2026 was marginally lower at S$294m, compared to S$295.2m in the same period last year. Despite this, the Geospatial Division saw a 10% increase in revenue, offsetting declines in the Real Estate Solutions and Healthcare Divisions.

Net profit for the period was S$34.9m, a 3% decrease from the previous year, primarily due to reduced revenue and gross profit. However, this was partially mitigated by lower other losses and a significant improvement in the share of loss from associates and joint ventures, following the reversal of a S$7m liability.

The group’s engineering order backlog stands at approximately S$396m, with S$122m under the Energy Engineering Division and S$274m under the Real Estate Solutions Division. Boustead has secured around S$193m in new engineering contracts since the start of 1H FY2026.

Chairman and Group CEO Wong Fong Fui commented on the challenging operating environment, noting, “The Group has delivered a respectable set of first half results.” He highlighted the thriving Geospatial Division, driven by demand for Geographic Information System technology solutions.

The Board has declared an interim cash dividend of 1.5 pence per share, consistent with the previous year. Boustead remains focused on optimising its balance sheet and improving project execution, with plans to list UI Boustead REIT on the Singapore Exchange to monetise its real estate portfolio.

More than 90,000 Singapore-based businesses are now selling internationally through PayPal, according to the newly released PayPal Global Beat 2025 report. This represents one in four of Singapore’s 356,100 registered businesses, highlighting the significant role digital commerce plays in extending the global reach of local enterprises. The report, based on a year of PayPal’s cross-border transaction data, reveals that Singapore’s gaming, beauty, and fashion sectors are leading the charge, collectively generating over $1.6b in transaction value.

The United States remains the largest market for Singaporean exports, with over $830m in purchases. However, Mexico has emerged as a promising new growth corridor, particularly for beauty and fashion products, with more than 7 million purchases worth over $370m. “PayPal continues to be a trusted partner for Singapore businesses expanding globally,” said Matthew Lucas, Vice President and Head of Cross Border Trade at PayPal. He noted that PayPal’s secure digital payment solutions enable even the smallest businesses to reach international customers.

Gaming is the most shopped category, generating over $593m in transaction value, followed by beauty with $411m and fashion with $636m. These sectors have found strong demand in both developed economies and emerging markets. Additionally, Singapore businesses are scaling in digital goods and software, further underscoring their global relevance.

As Singapore businesses diversify beyond traditional markets, the insights from PayPal Global Beat 2025 highlight the scalability and resilience of these enterprises, supported by trusted payment infrastructure. Looking ahead, PayPal plans to introduce more solutions in 2026 to simplify international expansion for businesses.

Franklin Templeton, a global investment manager, has partnered with DBS Bank to introduce Singapore’s first tokenised retail fund, the Franklin Onchain U.S. Dollar Short-Term Money Market Fund. Approved by the Monetary Authority of Singapore, the fund is available to DBS wealth clients and accredited investors, with retail access expected in early 2026. This initiative aims to democratise investment by allowing fractional ownership and lowering the minimum investment to US$20.

The fund leverages Franklin Templeton’s Benji Technology Platform, which integrates blockchain for real-time data, improved liquidity, and daily yield accrual. This technology ensures secure and transparent investment tracking, enhancing the fund’s appeal by offering high-quality, short-term U.S. dollar assets with the benefits of blockchain’s speed and efficiency.

The collaboration between Franklin Templeton and DBS Bank combines the bank’s digital infrastructure with Franklin Templeton’s expertise in tokenised assets. Tariq Ahmad, Head of APAC at Franklin Templeton, highlighted the growing interest in tokenised funds, stating, “We are excited to collaborate with DBS to bring this tokenised fund to the retail market.”

James Tan, Group Head of Investment Products & Advisory at DBS Bank, noted the transformative potential of tokenisation, saying, “By availing Singapore’s first tokenised retail fund to our customers, we are making it simpler and more convenient for them to start investing.”

This partnership marks a significant step in advancing financial inclusion and innovation in Singapore’s digital asset ecosystem, with Franklin Templeton continuing to integrate blockchain capabilities into traditional asset management.

Colliers Singapore has unveiled its Q3 2025 Industrial & Logistics Insights, highlighting a robust industrial property market despite global trade uncertainties. The report underscores a trend towards specification-led demand, particularly for automation-ready and advanced manufacturing facilities, which is shaping leasing strategies and driving market performance.

Prime logistics rents increased to $1.28 (S$1.75) per square foot, supported by a tight supply and healthy demand. Island-wide vacancy rates tightened to 10.9%, influenced by the withdrawal and demolition of older estates. Capital values rose to $162.50 (S$222) per square foot, with yields compressing to 7.20%. The demand for AI-related electronics and life sciences is providing a buffer against macroeconomic challenges.

Catherine He, Head of Research at Colliers Singapore, noted, “Singapore’s industrial sector remains resilient despite global trade headwinds. Occupiers are prioritising assets that meet operational needs such as specification-rich facilities that support automation and advanced manufacturing.”

The report also projects a steady rise in industrial supply through to the end of 2027, with an anticipated total of 1.3 million square metres, significantly above the historical average. Nicolas Menville, Executive Director and Head of Singapore-based Industrial Clients, commented on the evolving leasing environment, stating, “Modern logistics assets will continue to command premiums, whilst older stock must adapt to stay competitive.”

Colliers forecasts a moderation in industrial rental growth to around 2% in 2025, with price growth expected to edge up by approximately 4%, bolstered by investor confidence in Singapore’s stable macroeconomic environment.

The Civil Aviation Authority of Singapore (CAAS) has announced the introduction of a Sustainable Aviation Fuel (SAF) Levy, effective from 1 April 2026, for flights departing Singapore from 1 October 2026. This levy will apply to all Origin-Destination passengers, cargo shipments, and general and business aviation flights, aiming to support Singapore’s sustainability goals in aviation.

The SAF Levy is designed to meet a 1% SAF target for 2026, reflecting the price premium of SAF over conventional jet fuel. The levy varies by distance, with destinations grouped into four geographical bands. For economy class passengers, charges will range from S$1.00 for Southeast Asia to S$10.40 for the Americas. Premium cabin passengers will pay four times the economy rate, aligning with industry norms for carbon emissions calculations.

Cargo shipments will incur a levy based on weight and distance, starting at S$0.01 per kilogramme for Southeast Asia. General and business aviation flights will be charged per aircraft, with fees varying by aircraft size and distance.

The levy will fund the purchase of SAF and its environmental attributes, managed by the Singapore Sustainable Aviation Fuel Company Ltd. CAAS Director-General Han Kok Juan stated, “The introduction of the SAF Levy marks a major step forward in Singapore’s effort to build a more sustainable and competitive air hub.”

Singapore aims to achieve net zero aviation emissions by 2050, with a 1% SAF uplift target for 2026, potentially increasing to 3-5% by 2030. The levy is part of broader initiatives under the Singapore Sustainable Air Hub Blueprint to decarbonise the aviation sector.

The Monetary Authority of Singapore (MAS) has released key insights from the Transition Credits Coalition’s (TRACTION) Final Report, alongside a Statement of Support for Energy Transition Credits. These initiatives aim to promote energy transition credits as a viable financing mechanism to expedite the shift from coal to cleaner energy sources in Asia.

TRACTION, a multi-stakeholder initiative launched by MAS, involves over 30 partners and focuses on addressing the significant greenhouse gas emissions from coal plants in Asia. The Final Report offers practical solutions and identifies areas for further action to operationalise and scale energy transition credits. It builds on previous findings regarding the integrity and scalability of these credits, developed in collaboration with industry partners.

Key insights from the report highlight Asia’s substantial potential for generating high-integrity energy transition credits. A third of coal-fired power plants across 15 Asian markets could potentially generate these credits, representing around 1 gigatonne of CO₂ emissions reductions annually. The report emphasises the need for a whole-of-ecosystem partnership to realise this potential, including government support through clear energy policies and methodologies tailored to regional needs.

The report also stresses the importance of predictable carbon revenues and robust risk-mitigation solutions to enhance scalability. It suggests alternative approaches, such as phased shutdowns, to maintain energy reliability and stakeholder engagement. Furthermore, the report underscores the role of energy transition credits in supporting a Just Transition, ensuring energy accessibility and affordability whilst fostering community development.

The Statement of Support has garnered participation from 21 public and private entities, including the Government of Singapore, to engage in energy transition credit projects. This collective interest aims to boost confidence among plant owners and host governments for earlier coal retirement.

Looking ahead, the next phase will focus on translating TRACTION’s foundational work into concrete projects, with continued emphasis on integrity and scalability. Key partners, such as the Rockefeller Foundation and the Kinetic Coalition, will lead these efforts, aiming to build a robust pipeline of high-quality projects across Asia.

CIMB Singapore and Frasers Property have entered a five-year strategic partnership to offer over 2,000 retail tenants across 12 malls tailored financial solutions, including Singapore’s first “pay-as-you-earn” SME loan. This collaboration aims to enhance tenants’ cash flow and business resilience whilst promoting community engagement through initiatives like Silver Social Spaces.

The partnership introduces CIMB FlexiPay, an innovative loan that links repayments to daily revenue, allowing businesses to repay only when they earn. This flexible financing is exclusive to Frasers Property tenants, providing them with a unique opportunity to manage liquidity effectively. Additionally, tenants will benefit from zero fees on payment terminals and account setups, alongside unlimited free transactions via PayNow, FAST, and GIRO.

Beyond financial support, the partnership focuses on community impact through the Silver Social Spaces initiative, which engages seniors in meaningful activities at Frasers Property malls. This programme, supported by employee volunteers, aims to foster inclusion and active ageing.

Benjamin Tan, Head of Commercial and Transaction Banking at CIMB Singapore, highlighted the importance of supporting SMEs, stating, “This collaboration reflects CIMB Singapore’s commitment to go beyond banking to empower businesses, strengthen communities, and drive sustainable growth.” Adrian Tan, Managing Director of Retail at Frasers Property Singapore, added that the partnership is set to deliver greater value to SMEs through tailored financial solutions.

The initiative is expected to generate significant savings for SMEs, with a projected combined savings of $2.7m (S$3.7m) for about 500 businesses within the first two years. This strategic move marks a significant step towards building a resilient and inclusive retail ecosystem in Singapore.

Sanli has been awarded a significant contract valued at S$205m by Singapore’s National Water Agency, PUB, for the development of Changi NEWater Factory 3. This project, set to last 24 months, further boosts Sanli’s order book to a record S$838.7m. The announcement follows a recent S$281m contract from the Land Transport Authority (LTA) in October 2025, marking the largest single contract in the company’s history.

The new project is anticipated to positively impact Sanli’s net tangible assets and earnings per share over its duration. Sanli’s CEO and Executive Director, Sim Hock Heng, expressed confidence in the company’s capabilities and execution. “Building on the momentum of a recent contract win from LTA, we believe that the latest project win reflects the confidence in our capabilities, disciplined execution, and the enduring trust we have built for nearly 20 years,” he stated.

Sanli’s strategic focus on water and environmental sustainability aligns with Singapore’s priorities, ensuring continued support for public sector clients in delivering large-scale infrastructure solutions. This latest contract not only enhances Sanli’s order book but also contributes to its resilience and diversification, supporting sustainable growth in the future.