Industry News

Asendia, a global e-commerce and mail specialist, has announced a strategic partnership with Singapore Post (SingPost) to bolster cross-border e-commerce logistics in the Asia-Pacific (APAC) region. This collaboration, revealed on 7 May 2026, aims to enhance delivery performance and market access for businesses shipping to and from Singapore and the wider APAC area.

The partnership comes at a crucial time as the European Union prepares to abolish the €150 de minimis customs duty exemption on 1 July 2026, introducing a flat €3 duty on all low-value imports. This change follows the US suspension of similar exemptions in August 2025. Mark Chong, CEO of SingPost, highlighted the importance of this partnership, stating, “By extending our cross-border partnerships, we are providing businesses with the support to manage these complexities.”

Asendia’s recent establishment of a hub in Singapore further strengthens its presence in the region. The partnership will enable international brands and marketplace sellers on platforms like Amazon and eBay to benefit from more efficient parcel shipping into Singapore and the broader APAC region. Additionally, SingPost’s customers will gain access to Asendia’s extensive international network, facilitating expansion into Europe, North America, and beyond.

Lionel Berthe, Head of APAC at Asendia, noted that the partnership addresses key challenges such as border delays and customs clearance, as identified in Asendia’s Beyond Borders survey. The collaboration promises scalable and cost-effective growth for cross-border businesses in the region.

Gigamon’s 2026 Hybrid Cloud Security Survey has highlighted a significant rise in cyber threats in Singapore, with artificial intelligence (AI) playing a pivotal role. Over the past year, 60% of organisations in Singapore reported security breaches, with AI implicated in 84% of these incidents. This trend underscores the rapid adoption of AI beyond formal controls, contributing to increased security risks.

The survey, which included over 1,000 global IT and security leaders, reveals that despite 91% of Singaporean organisations investing in new security tools, many still struggle with visibility into data movement across their networks. Shane Buckley, President and CEO of Gigamon, noted, “AI is embedded in nearly every stage of the attack chain, enabling adversaries to outpace detection and response.”

Key findings from the survey indicate that AI is reshaping both offensive and defensive strategies in cybersecurity. In Singapore, 93% of organisations report that AI autonomously initiates security functions, particularly in alert triage and prioritisation. However, confidence in securing new AI technologies is outpacing actual capability, with 63% of organisations believing their security measures are robust, despite the high breach rate.

The survey also highlights concerns about future threats, with 92% of Singaporean leaders fearing “harvest now, decrypt later” attacks as quantum computing advances. To combat these threats, deep observability has emerged as a critical factor, with 97% of Singaporean leaders agreeing that access to detailed data is essential for detecting modern threats.

As AI continues to drive cyber threats, organisations are urged to enhance their visibility and adopt modern security approaches to protect against evolving risks.

Cybersense Solutions has officially launched its Southeast Asia headquarters in Singapore, marking a significant step in addressing the growing auditability gap in cyber risk governance across the region. With Thailand set as its first regional expansion market, the move comes as new regulations, such as Singapore’s Financial Services and Markets Act 2022 and the SEC’s cybersecurity disclosure rules, push cyber risk governance into boardrooms.

The firm aims to tackle the persistent challenge organisations face in demonstrating clear ownership and accountability in cyber risk decisions. Adrian Harris, Regional Managing Director of Cybersense Solutions, stated, “Most organisations already understand where their vulnerabilities are. The issue is rarely awareness, it’s ownership.”

The launch highlights the increasing expectation for boards to treat cyber incidents as matters of enterprise governance and accountability. Despite heightened awareness, many organisations still manage cyber risk through fragmented structures, lacking defensible governance evidence. This auditability gap is particularly critical in sectors like banking, manufacturing, and the EV and mobility industry, where cyber risk intersects with business continuity and regulatory compliance.

Cybersense Solutions’ engagement model focuses on governance-first cyber risk management, integrating cybersecurity operations, regulatory compliance, and legal defensibility. The firm aims to provide organisations with clearer accountability structures and audit-ready artefacts, emphasising outcomes that withstand scrutiny.

As interconnected and regulated environments grow, the ability to govern cyber risk with clarity and defensibility is becoming a defining leadership requirement. Cybersense Solutions’ establishment in Singapore reflects this shift towards a governance-focused approach to cyber risk management.

The Sabah Trade and Tourism Office Singapore (STTOS) is reinforcing Sabah’s status as a key regional hub for trade, tourism, and investment through strategic initiatives and collaborations with Singapore. These efforts, spanning from 2022 to early 2026, aim to position Sabah as a gateway to the BIMP-EAGA region and a destination for sustainable economic growth.

Over the past year, STTOS has spearheaded several initiatives to bolster bilateral ties. Notable milestones include the Sabah Fest Singapore Edition, which highlighted Sabah’s cultural and trade potential, and the Market Readiness Seminar in Sandakan, designed to help Sabahan businesses enter the Singapore market. Additionally, Sabah’s participation in regional platforms such as SEMICON SEA and SMEICC has further positioned it as an emerging investment destination.

STTOS is actively promoting Sabah as a destination for high-value, low-impact investments, particularly in sectors like manufacturing, the blue economy, and eco-tourism. This focus aligns with global trends towards sustainability and resilience, offering a unique value proposition for investors.

The office continues to facilitate business matching, market entry support, and investment engagement, strengthening economic ties between Sabah and Singapore. Recent collaborations with the Singapore Business Federation and government agencies highlight the growing interest of Singaporean companies in expanding into Sabah, underscoring the region’s appeal as a sustainable investment destination.

KnowBe4, a leader in digital workforce security, is accelerating its expansion across Asia following a successful series of cloud email security launch events in Singapore, Hong Kong, and the Philippines. The company plans to continue its regional tour with an event in Malaysia this July, driven by increasing demand for solutions that counter sophisticated AI-driven cyberattacks.

The recent Singapore event highlighted the growing threat of hyper-personalised email attacks, which have evolved from mass spam due to the use of generative AI and stolen logins. According to KnowBe4, 95% of Chief Information Security Officers (CISOs) believe client and corporate data is at risk via email, and 93% of organisations have experienced outbound email data breaches.

The events showcased KnowBe4’s Collaboration Security capabilities, demonstrating how AI-powered behavioural detection and real-time user feedback can mitigate email risks without hindering productivity. Dr. Kawin Boonyapredee, CISO adviser at KnowBe4, emphasised the need for a fundamental shift in securing emails, stating, “We must move beyond outdated models and focus on protecting the entire modern workforce.”

KnowBe4’s expansion in Asia is supported by growing regional teams and an increasing customer base. The company is investing in local expertise to address regional threat patterns and regulatory requirements. With further executive engagements planned across Asia Pacific, KnowBe4 aims to transform the modern workforce into a resilient security layer.

Avnet, a leading global technology distributor and solutions provider, has inaugurated a new integration facility in Singapore to bolster supply chain resilience across the Asia-Pacific region. This facility, part of Avnet Integrated Solutions, aims to expand the company’s regional integration capabilities, supporting customers’ “China-plus-one” strategy by offering increased flexibility and supply chain options.

The Singapore site is Avnet’s sixth integration facility worldwide, joining others in the US, Mexico, Germany, and China. Located within Avnet’s existing Farnell Distribution Centre, the facility will support system server and rack build services, alongside international shipping. It is certified under Singapore Customs’ Secure Trade Partnership programme and is pursuing ISO 9001 certification.

Rebeca Obregon, President of Global Farnell and Integrated Solutions, stated, “The opening of our Singapore integration facility is a direct response to how our customers are rethinking their global supply chains.” She emphasised Singapore’s critical role in connecting regional and global operations, providing customers with greater flexibility and faster access to localised support.

Spanning approximately 670 square metres, the facility includes dedicated integration space, warehousing, a repair depot, and a first article lab. The design allows for future expansion to meet growing customer demand. This strategic investment in Singapore is part of Avnet’s commitment to helping customers manage risk, optimise cost structures, and accelerate time to market in an increasingly complex global market.

Arcc Spaces, known for its hospitality-led real estate approach, is set to open its fourth location at the Bank of Singapore Centre in June 2026. This new property, occupying 25,782 square feet across three floors, comes as Singapore faces a significant shortage in Grade-A office space, with completions for 2026–2027 expected to meet only a third of historical demand.

The new site aims to cater to multinational corporations (MNCs) and high-growth firms seeking flexible office solutions amidst tightening vacancy rates, which have dropped to 4.1%. Justin Chen, CEO of Arcc Spaces, highlighted the strategic advantage of their offering, stating, “This opening marks a bold new chapter where we move beyond the traditional lease to a ‘stay’ for your business.”

The design of the space prioritises human connection and comfort, featuring warm materials and biophilic elements with views of the Marina Bay skyline. This approach reflects a shift from traditional long-term leases to more flexible arrangements, allowing companies to adapt quickly to market changes without the burden of extended commitments.

Arcc Spaces’ expansion underscores its confidence in Singapore’s stability as a business hub, particularly as geopolitical tensions drive companies to seek secure locations. The new property is positioned to offer MNCs a prestigious CBD headquarters without the risks associated with long-term leases, aligning with the evolving needs of modern enterprises.

Rex International Holding Limited has announced the appointment of Mike Hopkinson as its new Chief Operating Officer, effective immediately. Hopkinson succeeds Svein Kjellesvik, who is retiring after serving as COO since October 2015. Hopkinson has been with Rex’s subsidiary, Masirah Oil Ltd, as General Manager since 2023, where he managed operations in the Yumna Field, Block 50 Oman.

Hopkinson’s extensive experience spans over three decades in the petroleum industry, covering various international locations including the UK North Sea, Gulf of Mexico, and several countries in Africa and Latin America. His career began in 1985 with Marathon Oil Company in Aberdeen, Scotland, and he has held significant roles in companies such as Kosmos Energy Inc. and Triton Energy Inc. His academic credentials include a Master of Science in Petroleum Engineering from Imperial College, UK, and a Bachelor of Science (Honours) in Engineering with Business Studies from the University of Portsmouth, UK.

Per Lind, CEO of Rex International Holding, expressed gratitude to Kjellesvik for his contributions and welcomed Hopkinson, stating, “With our continued focus on operations and the upcoming drilling programme in Oman, he is the most suitable candidate for the role of COO.”

Rex International Holding, listed on the Singapore Exchange, holds exploration and production licences in Norway, Germany, Oman, and Benin, with operatorship in Oman, Benin, and Germany. The company aims to leverage Hopkinson’s expertise to enhance its operational capabilities and strategic initiatives.

The luxury non-landed homes market in Singapore demonstrated resilience in the first quarter of 2026, with 79 units sold, marking a nearly 10% increase compared to the same period last year, according to Huttons Asia’s latest report. This growth comes despite escalating geopolitical tensions in the Middle East, which have inadvertently bolstered Singapore’s appeal as a global wealth management hub.

The total value of luxury non-landed homes sold reached $668.8m, reflecting a 4.7% increase from the previous quarter and a 9.4% rise year-on-year. Notably, there were 18 transactions valued at $10m or more, a significant 38.5% increase from the previous quarter.

Mark Yip, CEO of Huttons Asia, attributed this trend to ultra-high-net-worth individuals (UHNWIs) seeking stable environments to manage their wealth. “Singapore’s safe haven status, political stability, strong rule of law, competitive tax regime, and low corruption appealed strongly to these UHNWIs,” he stated.

The rental market for luxury non-landed homes also saw growth, with rents increasing by 1.6% compared to Q1 2025. An estimated 577 units were rented out, a 3.2% year-on-year increase.

However, the Good Class Bungalow (GCB) market experienced a slowdown, with a 63.3% decrease in total transacted value from the previous quarter, although it was 76.9% higher than the same period last year. The largest GCB transaction was a $92m sale on Nassim Road.

Looking ahead, Singapore’s strategic position as a wealth management hub is expected to attract more UHNWIs, potentially driving further growth in the luxury property market.

Coliwoo has announced a significant 17% increase in revenue for the first half of the financial year 2026, reaching S$26.9m. This growth is attributed to a robust average occupancy rate of 97% across its portfolio of 3,568 rooms in 28 properties. The company’s adjusted profit after tax and minority interests (PATMI) also rose by 14% to S$8.6m, following fair value changes and other adjustments.

The company is advancing its asset-light strategy by launching a S$218.5m portfolio sale of seven freehold living assets. This move aims to unlock liquidity for higher-yielding opportunities, allowing Coliwoo to focus on master leases and management contracts. Executive Chairman and CEO Kelvin Lim stated, “Our stellar 1HFY2026 operational performance validates the resilience of our co-living model.”

Coliwoo’s strategy is part of its broader goal to expand to 10,000 rooms by 2030. The company plans to reinvest proceeds from the asset sale into opportunities in Singapore and key regional markets where renting is prevalent. This approach is designed to keep the company agile and capital-efficient.

In addition to its financial performance, Coliwoo has declared an interim dividend of 1.0 Singapore cent. The company will present further insights into its performance and future direction at the upcoming results briefing on 22 May 2026 at the Ocean Financial Centre in Singapore.