Industry News

Cedars Digital, a Singapore-based sustainability technology company, has introduced its AI-driven carbon management approach at the 2026 Sustainable Smart Mobility Forum in Taipei. The forum, which gathered Taiwan’s transportation authorities and city leaders, focused on how artificial intelligence and real-time carbon data can enhance urban decarbonisation efforts across Asia.

Salmon Sim, Chief Operating Officer of Cedars Digital, emphasised the importance of treating carbon data like a city’s vital signs. “With AI continuously analysing changes in emissions, cities and organisations can identify hotspots earlier and make more timely adjustments,” Sim stated. This approach shifts carbon management from annual reporting to continuous monitoring, enabling quicker responses to changing emissions patterns.

The forum also highlighted examples from Singapore, the UK, and Denmark, showcasing how digital technologies can aid decarbonisation in transportation, energy, and buildings. LEOTEK, a participant, demonstrated AI-enabled smart mobility applications in Taiwan, illustrating how intelligent infrastructure can enhance urban operations.

Cedars Digital’s participation in the Taipei dialogue underscores its commitment to expanding Singapore-based sustainability solutions into regional markets. The company’s CarbonM platform supports organisations in carbon accounting and emissions management, facilitating a move from static reporting to dynamic, actionable carbon management.

As cities across Asia accelerate their transition towards data-driven, low-carbon operations, Cedars Digital’s expertise in AI-enabled carbon management positions it as a key player in the region’s sustainability efforts.

ONERHT, a multidisciplinary professional services platform, has marked a significant milestone with the successful hosting of its 10th ASEAN Summit 2026 and the inauguration of its new Singapore headquarters at Collyer Quay Centre. The summit, themed “Positioning ASEAN in a US–China Contest Era,” took place on 20 August 2026 at the Suntec Singapore Convention & Exhibition Centre, drawing regional and global leaders to discuss ASEAN’s strategic autonomy and emerging opportunities.

The event also saw the launch of the ASEAN Plus Business Alliance (APBA), co-chaired by Tan Chong Huat, Chairman of RHTLaw Asia and RHT Group of Companies, and Azman Jaafar, Managing Partner of RHTLaw Asia. The alliance aims to deepen commercial cooperation between ASEAN and global partners. Tan Chong Huat emphasised the importance of building bridges, stating, “ASEAN’s future will not be defined by which side it chooses, but by the strength of the bridges it builds.”

The opening of ONERHT’s new headquarters on 26 August 2026 signifies a commitment to regional growth and collaboration. Located in Singapore’s central business district, the headquarters aims to enhance connectivity and service delivery across the region. Azman Jaafar remarked, “Our new headquarters represents confidence in our future. It brings our people together and gives us a home from which to serve Singapore, ASEAN and the wider region with renewed energy.”

These developments underscore ONERHT’s evolution as a Singapore-anchored, Asia-led platform, poised to connect expertise, capital, and opportunity across the region.

TP in Malaysia has announced the opening of a new operations centre in Johor Bahru, marking a significant expansion of its presence in Malaysia. This development aims to bolster the company’s ability to serve businesses across Singapore and Southeast Asia by creating a strategic nearshore hub for customer experience, digital operations, and revenue services.

The Johor Bahru site complements TP’s existing facilities in Kuala Lumpur and Penang, extending its national coverage. It offers Singapore-based businesses access to Malaysia’s skilled multilingual workforce, supported by a flexible cross-border operating model. Situated within the Johor-Singapore Special Economic Zone, the site is strategically positioned to meet the growing demand from Singapore-headquartered companies and multinational organisations expanding in the region.

Andy Rangel, CEO of TP in Malaysia, stated, “Johor Bahru enhances our national footprint and represents an important milestone in TP’s growth across Malaysia. It provides access to exceptional multilingual talent whilst creating a unique nearshore proposition for Singapore-based businesses.”

Malaysia’s appeal as a digital services destination is underscored by its Global Business Services industry, which is home to 749 companies and projected to generate RM28.14b in revenue. Johor’s rapid economic growth further strengthens its potential as a hub for technology-enabled services.

The new facility will initially support a leading global e-commerce company, with future growth anticipated from multinational and Singapore-based enterprises. It will also bolster TP’s Revenue as a Service capabilities, aiding companies in extending their sales and revenue operations through specialised talent and AI-enabled solutions.

DBS, OCBC, and UOB have successfully executed the first live domestic Singapore dollar transactions using tokenised deposits on Swift’s blockchain-based ledger. This collaboration marks a significant advancement in Singapore’s banking sector, showcasing the potential of shared-ledger technology to enable continuous, interoperable payment networks.

The initiative demonstrates how banks can collaborate to develop next-generation payment infrastructure, providing insights into how shared-ledger technology could facilitate 24/7 interbank payments beyond traditional processing hours. This development reinforces Singapore’s reputation as a hub for financial innovation, with its banks pioneering new payment capabilities whilst ensuring the trust and safety of the existing financial system.

Swift’s ledger connects tokenised deposit ecosystems across banks, addressing a critical barrier to digital money adoption and laying the groundwork for more efficient payment networks. The technology could eventually introduce new services in corporate treasury, trade, and digital commerce.

Rachel Chew of DBS highlighted the importance of round-the-clock transactions, stating, “Our pilots prove that with tokenised deposits, clients can transact USD and SGD payments any time, any day, including over a weekend.” Carmen Chan from OCBC emphasised the value of industry collaboration, noting, “The initiative provides valuable insights into how shared-ledger technology can unlock new payment capabilities for businesses.”

UOB’s So Lay Hua expressed commitment to advancing digital assets, saying, “These demonstrate the potential of tokenised infrastructure to enable faster, more seamless movement of funds across markets, currencies and time zones.”

This milestone follows Swift’s July 2026 announcement of its blockchain-based ledger’s readiness for initial use, with 17 banks globally preparing for live transactions using tokenised deposits.

Ant International, Mastercard, and Visa have announced a collaboration to develop a Know-Your-Agent (KYA) interoperability framework. This initiative is set to simplify agentic payment transactions by enabling common trust signals across the payment ecosystem. The collaboration aims to reduce integration complexity and duplicative identity verification efforts, thus lowering costs and improving time-to-market for new services.

The KYA framework will build on existing protocols—Visa’s Trusted Agent Protocol, Mastercard Verifiable Intent, and Ant International’s Agentic Mobile Protocol. By 2030, AI agents are expected to manage $3 trillion to 5 trillion in global consumer commerce, highlighting the need for robust identity and trust frameworks.

The framework focuses on three key areas: cross-network operator traceability, shared certification requirements, and continuous transaction monitoring. These measures aim to ensure secure and trusted transaction execution across participating networks.

The collaboration will leverage BuildFin.ai, an industry platform convened by the Monetary Authority of Singapore (MAS), to advance AI agent verification and risk management. This effort is crucial for enabling AI agents to operate safely across payment ecosystems whilst maintaining strong safeguards for consumers and merchants.

Rubail Birwadker of Visa emphasised the importance of trust scaling with AI agents, stating, “Collaborations like this can help create more consistency, better accountability, and greater confidence across the payments ecosystem.” Pablo Fourez of Mastercard highlighted the need for interoperability to ensure secure and transparent transactions. Jiang-Ming Yang of Ant International noted the critical role of interoperable KYA in securing trust for payment partners and merchants.

This initiative marks a significant step towards enhancing the reliability and efficiency of agentic commerce, paving the way for more autonomous and secure digital transactions.

Abbott and Sengkang General Hospital (SKH) have announced a three-year partnership to enhance muscle health screening and education across Singapore. This initiative seeks to address sarcopenia, a condition affecting one in three Singaporeans aged 60 and above, by integrating screenings into hospital and community settings and expanding public education.

The collaboration builds on a 2023 partnership that trained nearly 300 healthcare professionals in muscle health assessment. The expanded effort will focus on professional capacity building, screening and early identification, and public education. Healthcare professionals will be equipped with Abbott’s Asian reference Muscle Health Chart to improve diagnostic precision.

Muscle health is crucial for healthy ageing, with adults losing up to 8% of muscle mass per decade from age 40. The initiative aims to prevent frailty, falls, and fractures by identifying at-risk individuals earlier. “Muscle loss is one of the most under-recognised threats to healthy ageing,” said Dr Frederick Koh of SKH. “This next phase takes us further by bringing screening directly into hospital and community settings.”

Dr Low Yen Ling of Abbott highlighted the role of nutrition and exercise in maintaining muscle health, stating, “We hope to encourage more people to take proactive steps through good nutrition and resistance exercise.”

Individuals concerned about muscle health are encouraged to consult healthcare professionals and visit stand4strength.sg for more information.

FOMO Pay, a leading payment institution in Singapore, has partnered with NPCI International Payments Limited (NIPL) to introduce Unified Payments Interface (UPI) QR code acceptance for merchants in Singapore. This initiative, announced at the Global Fintech Fest 2026, sees Resorts World Sentosa as the first merchant partner, allowing Indian visitors to use their familiar UPI apps for online bookings and payments on the resort’s website.

The collaboration aims to capitalise on the growing demand for seamless cross-border payment experiences, especially given the record 12 million Indian visitors to Singapore in 2025. Indian tourists can now pay in Indian Rupees (INR) whilst Singaporean merchants receive settlements in Singapore Dollars (SGD). This development is part of NIPL’s strategy to expand UPI’s global reach, leveraging its infrastructure to facilitate international transactions.

Ritesh Shukla, Managing Director and CEO of NPCI International, highlighted the significance of this partnership, stating, “Our partnership with FOMO Pay marks a significant milestone in this journey. With UPI now accepted on the Resorts World Sentosa website, Indian visitors can conveniently book and pay online using their preferred UPI apps.”

Resorts World Sentosa, a premier lifestyle destination, welcomes millions of visitors annually. Jenny Wang, Senior Vice President for Resort Sales and Marketing, noted the importance of the Indian market, saying, “By enabling UPI payments on our website, we are making it easier for Indian travellers to discover, plan, and book their experiences with us before they arrive.”

This initiative is expected to strengthen the India-Singapore commerce corridor, enhancing the experience for Indian visitors whilst supporting Singapore’s tourism sector.

Universal Quantum, a leading UK company in quantum computing, has announced the establishment of its first research and development (R&D) centre outside Europe in Singapore. This move marks a significant expansion into the Asia-Pacific region, supported by the Singapore Economic Development Board (EDB) and EDBI, an investment arm of SG Growth Capital. The new centre will serve as a strategic hub, leveraging Singapore’s advanced capabilities in chip development and quantum algorithms.

The initiative is part of Universal Quantum’s collaboration with the National Quantum Office (NQO) and aims to advance ion trap chip technology, crucial for developing scalable quantum computers. “Singapore brings together world-class research infrastructure, advanced manufacturing expertise and a highly collaborative Government,” said Sebastian Weidt, CEO and co-founder of Universal Quantum. This partnership is expected to accelerate the company’s efforts in building error-corrected quantum computing systems.

The Singapore centre will initially employ 25 people, with plans for significant growth. It will focus on developing microchip technology and exploring applications in sectors where Singapore has industrial strength. The move aligns with Singapore’s National Quantum Strategy, which seeks to enhance the country’s quantum ecosystem through research, talent, and industry development.

Universal Quantum’s expansion is seen as a vote of confidence in Singapore’s capabilities. Ling Keok Tong, Executive Director of the National Quantum Office, stated, “This Centre will help to anchor partnerships with Singapore’s growing quantum ecosystem of researchers and industry partners.” The company aims to contribute significantly to the region’s quantum ecosystem, fostering partnerships with local organisations.

EGYPTAIR, in collaboration with Changi Airport Group and Sydney Airport, has announced plans to launch a new flight service connecting Cairo, Singapore, and Sydney starting early 2027. This proposed route, pending regulatory approvals, will be the first direct link to North Africa for both Singapore and Australia, addressing the growing demand for travel to and from Egypt, which was identified as the largest unserved market in Africa for these regions by point-to-point traffic in 2025.

The new route aims to connect three vibrant cities, each offering unique cultural and economic opportunities. Cairo, with its rich historical sites like the Pyramids of Giza and the Grand Egyptian Museum, will be more accessible to travellers from Singapore and Sydney. Singapore’s blend of urban and natural attractions, such as Marina Bay and Gardens by the Bay, and Sydney’s iconic landmarks, including the Sydney Opera House, will also become more reachable for Egyptian tourists.

Amr Adawy, Vice President Commercial of EGYPTAIR, expressed enthusiasm about the new service, stating it would “strengthen EGYPTAIR’s presence in the Asia-Pacific market” and provide “greater choice, connectivity and an enhanced travel experience” with the use of their Airbus A350-900 aircraft. Lim Ching Kiat from Changi Airport Group highlighted the seamless access this service would provide to destinations across Southeast Asia and beyond. Greg Botham from Sydney Airport noted the significance of this new connection as a direct link to one of Africa’s key hubs.

HSBC Life Singapore has introduced two innovative insurance products, HSBC Life Term Protect Secure and HSBC Life Diamond Prestige IUL III, to cater to the evolving financial needs of Singapore’s ageing population. As life expectancy in Singapore rises to 83.9 years, the gap between lifespan and health span highlights the necessity for robust financial planning.

The HSBC Life Term Protect Secure plan offers comprehensive term life insurance with the flexibility to adjust coverage as customers’ needs change. Key features include the FlexiMilestone benefit, which allows policyholders to modify their coverage and receive up to 50% of base plan premiums paid. Additionally, the plan provides enhanced critical illness coverage for up to 170 conditions and the option to extend protection until age 100.

Meanwhile, the HSBC Life Diamond Prestige IUL III is designed for lifelong protection and legacy planning. This indexed universal life plan offers six index sub-accounts, including the new Gold Prestige and S&P 500 Pro, allowing for greater diversification and flexibility in wealth accumulation and transfer. Customers can also tailor premium allocations and structure death benefits to suit their financial goals.

Harpreet Bindra, CEO of HSBC Life Singapore, emphasised the importance of these solutions, stating, “Longer lives are fundamentally changing the way we need to think about financial security. Our role as an insurer is to help customers build resilience across life stages.”

These new offerings reflect HSBC Life Singapore’s commitment to addressing the complex health and wealth needs of its clients, further solidifying its position as a leader in the insurance industry.