Industry News

Toku Ltd, a Singapore-based AI-powered customer experience platform, has announced the incorporation of Toku Technology L.L.C, its first in-country entity in the Middle East. This marks a significant step in Toku’s regional expansion, which began in December 2025. The new UAE subsidiary allows Toku to contract, invoice, and hire locally, enabling participation in government and semi-government tenders across the UAE and the wider Gulf Cooperation Council (GCC).

The expansion has been bolstered by a memorandum of understanding with SESTEK, a Turkey-based conversational AI provider, signed in June 2026. This partnership enhances Toku’s capabilities in Arabic-language solutions, addressing the region’s diverse linguistic needs. Toku’s deployment with Talabat, a leading food delivery service, has expanded across all eight Middle East markets, supporting over 8,000 users. The introduction of voice alongside chat has increased customer satisfaction to approximately 80%, a rise of more than 20%.

Thomas Laboulle, Toku’s Founder and CEO, stated, “The Middle East has developed ahead of our expectations since our first deployments there last year. Our UAE subsidiary gives that demand a local foundation: it lets us contract, invoice, and hire in-country, brings us closer to our customers and partners, and positions Toku to participate fully in the region’s digital transformation.”

With its local presence, Toku is well-positioned to address the GCC’s demand for locally hosted, sovereign, and hybrid deployments, shaping enterprise technology decisions across the region. This expansion underscores Toku’s commitment to enhancing customer experience through AI, tailored to the unique needs of the Middle East.

APAC Realty Limited has announced its intention to acquire the remaining shares in PT ERA Graharealty Tbk (ERA Indonesia) as part of a plan to delist the company from the Indonesia Stock Exchange. Currently holding 90.6% of ERA Indonesia’s shares, APAC Realty aims to purchase the remaining 9.4% through a voluntary tender offer at IDR250 per share, equivalent to approximately S$0.02. The total cost of acquiring these shares is expected to be around IDR22.33b, or S$1.6m, funded through internal resources.

The acquisition and subsequent delisting are designed to enhance management flexibility, reduce compliance costs, and improve operational efficiency. ERA Indonesia, which no longer requires capital market funding, has no future plans to raise funds from these markets.

ERA Indonesia, incorporated in 1991 and listed in 2021, holds the ERA country master franchise for Indonesia. It operates 103 broker offices and employs 4,576 agents across major Indonesian cities. The acquisition is subject to approval from independent shareholders and relevant authorities, with completion anticipated by March 2027.

APAC Realty’s Chief Financial Officer, Poh Chee Yong, confirmed that the acquisition would not materially impact the company’s financial metrics for the year ending 31 December 2026. Further announcements will be made as the acquisition progresses.

Metrocon Holdings Limited has successfully completed a compliance placement of 23 million new ordinary shares at S$0.20 each, raising S$4.6m. This move is designed to meet the minimum public float requirement and support the company’s growth initiatives. Trading of Metrocon’s shares on the Singapore Exchange (SGX) under its new name is set to resume at 9.00 a.m. on 15 September 2026.

The funds raised will be channelled towards upgrading Metrocon’s Building and Construction Authority (BCA) registration to Grade L6 under the CR08 (Piling Works) workhead, enhancing its workforce, and exploring business expansion opportunities. The compliance placement has garnered support from industry veterans such as Sun Renwang of Ever Glory United and Lim Thiam Hooi of Lum Chang Creations.

Alvin Lim, Founder and Non-Executive Non-Independent Chairman, expressed enthusiasm about the SGX Catalist listing, stating: “The SGX Catalist listing marks an exciting new chapter for Metrocon, which has spent the past decade building its capabilities and establishing a strong track record in geotechnical foundation engineering.”

In the first half of 2026, Metrocon Pte. Ltd., the company’s core growth engine, reported S$24.39m in revenue and S$2.09m in profit after tax. The company’s order book for piling and groundwork services stands at S$85.25m, with projects scheduled over the next two years.

Tan Kean Seng, Executive Director and CEO, highlighted the company’s focus on strengthening execution capabilities and pursuing larger projects, stating confidence in Metrocon’s foundation for future growth.

Linklaters has advised DBS Bank, Oversea-Chinese Banking Corporation Limited (OCBC), and United Overseas Bank (UOB) on six significant covered bond offerings, totalling over US$8b, under their global covered bond programmes. These transactions, conducted over the past three months, are set to be listed on the Singapore Exchange, highlighting the robust international reach of Singapore’s covered bond market.

The offerings include DBS Bank’s US$2b 4.486% covered bonds due 2029 and €2b 3.239% covered bonds due 2030. OCBC issued £1b floating rate covered bonds due 2029 and US$750m 4.630% covered bonds due 2029. UOB’s issuance involved £1b floating-rate covered bonds due 2030 and a €1b dual-tranche fixed-rate covered bond offering, marking the first dual-tranche euro covered bond transaction by an Asian issuer.

These transactions underscore the banks’ ability to access diverse international capital pools across various currencies and maturities. Jonathan Horan, Linklaters’ Singapore managing partner, remarked, “Singapore’s banks continue to play an important role in the development of Asia’s covered bond market, bringing innovative and high-quality offerings to international investors.”

Linklaters, with over 50 years of experience in Asia, has a strong track record of advising Singapore banks on international covered bond programmes. The firm’s expertise in navigating complex international debt capital markets has been pivotal in these recent transactions, reinforcing Singapore’s position in the global covered bond market.

OneByZero, a Singapore-based Frontier Systems Integrator, has announced a three-year Strategic Collaboration Agreement with Amazon Web Services (AWS) to enhance the deployment of governed, production-scale artificial intelligence (AI) across Asia Pacific and Japan. This partnership is designed to help enterprises transition from AI experimentation to full-scale production, addressing challenges such as integration into core operations, governance, and security.

The collaboration will focus on four key areas: scaling OneByZero’s Neo platform for AI deployment within AWS environments, expanding AI-assisted data modernisation using the ETL Crew, redesigning enterprise workflows around AI, and developing outcome-based AI delivery models. OneByZero’s AI Coworkers are already operational across the region, managing over 100,000 enterprise interactions daily, and have demonstrated significant efficiency improvements, including 55% faster delivery and 30% cost savings in one deployment.

Niket Vaidya, CEO of OneByZero, highlighted the importance of moving quickly from AI pilots to production, stating, “Neo, our platform for deploying and governing AI Coworkers, is what makes that possible inside the complex, regulated environments our clients operate in.” Kirsten Gilbertson, Partner Organisation Leader at AWS ASEAN, added, “The next wave of enterprise productivity in APJ won’t come from AI alone, it will come from human-AI collaboration done right.”

As part of the agreement, OneByZero will expand its engineering teams across Asia-Pacific, combining human expertise with AI to support enterprises in adopting AI agents at scale. This initiative underscores the commitment of both companies to unlocking the full value of AI in the region.

Hitachi High-Tech (Singapore) and QuikBot Technologies have entered into a strategic collaboration to advance the integration of QuikSync with Hitachi’s lifts and building systems. Announced on 9 September 2026, this partnership aims to create a trusted infrastructure for autonomous operations across Southeast Asia.

Currently, many robots function as standalone systems, unable to independently navigate building infrastructure such as lifts and doors. The collaboration seeks to address this by combining Hitachi’s operational technology expertise with QuikBot’s QuikSync platform. This integration will enable autonomous systems to request access and travel between floors safely and securely.

QuikSync provides a trust infrastructure for Physical AI, allowing autonomous systems to securely identify themselves, authenticate, and interact with physical infrastructure under defined safety and operational policies. Alan Ng, CEO of QuikBot Technologies, highlighted the importance of trust in demanding environments like healthcare and manufacturing, stating, “Nothing moves inside a hospital ward or a cleanroom without permission, identity and accountability, and that is exactly what QuikSync provides.”

The initiative will begin with integrating QuikSync with Hitachi lifts, enabling autonomous systems to operate across entire buildings. This scope may extend to other infrastructure such as doors, access gates, and security systems. Christopher Han, Director of Hitachi High-Tech (Singapore), noted the collaboration’s potential to transform operational data into actionable intelligence, enhancing autonomous operations.

The partnership is expected to drive new business opportunities in smart buildings, healthcare, and manufacturing within the Southeast Asia region. A joint steering committee will oversee the partnership, ensuring progress and evaluating potential deployment sites. This collaboration marks a significant step towards creating AI-ready buildings, contributing to a sustainable and technologically advanced society.

LinkedIn’s latest research highlights a shift in how Singapore’s emerging entrepreneurs can gain a competitive edge, focusing on trust and professional networks rather than hefty marketing budgets. The study reveals that 79.6% of Singapore B2B marketers believe Gen Z buyers are more inclined to consider brands recommended by their professional network. Furthermore, 88.2% of marketers assert that their company’s future growth hinges on influencing these younger decision-makers.

The findings suggest that small businesses can thrive by showcasing expertise and thought leadership. Nearly 38.4% of marketers identified this approach as the most effective for acquiring new customers, significantly outpacing the 13.8% who favoured paid advertising. Davang Shah, VP of Marketing at LinkedIn, emphasised, “Today’s buyers look to their community of peers and experts to help them make decisions.”

The research underscores the importance of credibility, with 74.4% of respondents agreeing that brand credibility is now more crucial than visibility. Additionally, 71.6% of marketers trust human expertise over AI-generated content, highlighting the enduring value of personal insights.

For Singapore’s young entrepreneurs, the study offers practical advice: engage professional networks, share expertise, and leverage testimonials to build trust. As more young Singaporeans venture into business, these strategies could prove vital in navigating the competitive landscape without relying solely on marketing spend. The research, conducted by Censuswide, involved 500 B2B marketers in Singapore, providing a comprehensive view of current market dynamics.

Tencent has announced a second cash donation of S$250,000 to bolster digital heritage initiatives in Singapore, continuing its collaboration with HeritageSG and the National Heritage Board (NHB). This donation coincides with Tencent’s annual 99 Giving Day, a global philanthropic event held every September.

The partnership, which began in 2025, has already seen significant contributions from Tencent, including technological support and a previous donation of S$250,000. These efforts have facilitated digital storytelling and interactive experiences at several institutions. At ArCH Square, an LED installation launched in May 2026 transforms a building exterior into a digital canvas, showcasing Singapore’s cultural narratives.

The National Museum of Singapore, celebrating its 139th anniversary, will benefit from Tencent’s support through a video complementing its “Stories of Everyday” installation. The Asian Civilisations Museum will pilot a digital storytelling experience for children, enhancing engagement with museum objects through multimedia content.

Murphy Zhao, Country Manager of Tencent Singapore, stated, “Culture and heritage connect people to the stories that shape their communities, and technology can help bring these stories to life in new ways.”

Tencent’s commitment extends beyond heritage, with initiatives supporting health, environmental stewardship, and senior empowerment in Singapore. The company’s efforts, including partnerships with the Singapore Red Cross and Ocean Purpose Project, aim to create a lasting impact on local communities.

Low Sze Wee, Group Director of Museums at NHB, noted, “Digital experiences complement our physical collections and programmes, expanding the ways we engage our audiences.”

A new white paper by Singlife and the Sustainable and Green Finance Institute (SGFIN) at the National University of Singapore highlights personal ownership as the primary driver of sustainable action among Singaporeans. The study, based on a survey of 1,500 Singaporeans and Permanent Residents, found that ownership accounts for 74% of sustainable actions, overshadowing awareness and knowledge, which account for 18% and 8% respectively.

The Singlife-SGFIN Sustainable Future Index 2026, launched on 10 September, reveals that Singapore’s overall sustainability action score is 56 out of 100. The report identifies responsible investing as a significant area for improvement, with only 21% of actions currently adopted but 43% intended within the next year. This suggests a substantial opportunity to convert intent into action by making sustainable investments more accessible and transparent.

The study also notes that sustainable behaviours are more likely to be adopted when they are easy, affordable, and convenient. For instance, 52% of respondents reported buying less fast fashion, whilst only 16% have adopted electric vehicles due to higher costs. The report suggests reducing barriers such as cost and complexity to encourage greater sustainability action.

Generational differences were also observed, with younger Singaporeans more engaged in responsible investing and cultural actions, whilst older generations focus on sustainable lifestyle habits. The white paper recommends tailoring sustainability initiatives to different life stages and motivations.

The findings call for a collective effort from government, businesses, and financial institutions to enhance personal ownership and make sustainable choices more practical and accessible.

Universities must redefine their roles to address societal challenges, according to Singapore Management University (SMU) President Lily Kong and London School of Economics and Political Science (LSE) President Larry Kramer. Speaking at the inaugural SMU-LSE Global Forum, they emphasised the need for academia to focus on societal impact rather than traditional metrics like publications and rankings.

Kong highlighted the importance of academics thinking beyond publications to influence business, government, and society. “We must encourage academics to think beyond publications—how their work can make a difference,” she stated. Kramer added that universities are uniquely positioned to foster debate and train future leaders, saying, “The independence that universities have is one of the best ways to get the best outcomes.”

The forum, attended by over 150 participants including diplomats and industry leaders, marked the announcement of three joint research projects under the LSE-SMU Research Seed Fund. These projects will explore urban sustainability, artificial intelligence (AI) in leadership, and longevity and healthy ageing.

The urban sustainability project will examine the impact of data centres in Johor, Singapore, and London on land, energy, and water systems. The AI project will investigate how generative AI affects leadership and decision-making. The longevity project will assess Singaporeans’ preferences for ageing in place and its implications for housing policies.

This collaboration underscores the strategic partnership between SMU and LSE, aiming to address complex social challenges through interdisciplinary research. The partnership also contributes to broader Singapore-UK ties, particularly in education, described as the “golden thread” by British High Commissioner to Singapore, Nik Mehta.