Industry News

Startale Ventures, the investment arm of Web3 infrastructure developer Startale Group, has announced a strategic investment in Kyo Finance, a Singapore-based decentralised finance (DeFi) protocol. This partnership aims to enhance Kyo Finance’s position as a leading liquidity hub in Asia by providing access to Startale’s extensive ecosystem, including institutional partners and technical advisory.

Kyo Finance, which has achieved over $55 million in peak total value locked (TVL) and more than $530 million in cumulative trading volume since its launch, will utilise the funding to expand across more than 50 Optimism (OP) Superchains. The investment will also help Kyo Finance enhance its compliance frameworks to meet the growing demands of institutional clients and scale its liquidity solutions for enterprise and government adoption.

Sota Watanabe, CEO of Startale Group, expressed enthusiasm for the collaboration, stating, “We are excited to support and join forces with such an innovative project as Kyo Finance, which has rightfully become the winner of the Soneium Spark programme.” The partnership is part of Startale Ventures’ broader vision to establish dominant liquidity infrastructure across emerging blockchain ecosystems.

Kyo Finance CEO Kai highlighted the importance of addressing liquidity fragmentation, noting, “With over 50 chains launching within the Superchain, Kyo addresses critical liquidity fragmentation through a fully vertically integrated stack.” The investment comes at a time when institutional interest in compliant DeFi solutions is increasing, driven by regulatory developments like the US Clarity Act.

With this strategic backing, Kyo Finance aims to set a new standard for DeFi infrastructure, optimising capital flows and unifying fragmented liquidity across Superchain networks. The collaboration with Startale Ventures positions Kyo Finance to leverage advanced technologies, such as gasless transactions, to enhance its service offerings in the rapidly evolving DeFi landscape.
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The FTSE ST Mid & Small Cap Index has delivered a notable 9% total return in the third quarter of 2025, outperforming the Straits Times Index (STI), which recorded a 7% return. This performance was spearheaded by PropNex, which achieved a 52% total return, driven by a record first-half net profit.

The index, comprising 74 constituents, maintains a significant 40% weightage in the Singapore Real Estate Investment Trust (S-REIT) sector. The 29 trusts within this sector averaged a 4% total return, whilst the remaining 45 stocks, including three business trusts, averaged a 15% return. Notably, the index recorded a net institutional inflow of $280 million (S$382 million) in the third quarter to 12 August, with significant contributions from companies like iFAST, Frencken, and City Developments.

PropNex’s impressive performance was underpinned by a doubling of its first-half net profit to $31 million (S$42.3 million), alongside a 73.3% surge in revenue to $439 million (S$598.9 million). This growth was largely attributed to a 183.2% increase in project marketing commissions. The company also proposed a 5.0 cent interim dividend, reflecting an 87.6% payout ratio.

The index’s constituents have collectively seen an average daily turnover of $310 million (S$423 million) in 2025, with the S-REIT and industrial sectors leading trading activity. The technology sector, represented by eight constituents, accounted for $132 million (S$180 million) of the total net institutional inflow.

Overall, the FTSE ST Mid & Small Cap Index’s robust performance highlights its diverse composition and the strong market interest in mid and small-cap stocks.
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China Aviation Oil (Singapore) Corporation Ltd (CAO) has announced an impressive financial performance for the first half of 2025, with net profit rising by 18.4% year-on-year to $50.04 million. This growth was driven by a significant increase in business volume, leading to a 13.6% rise in revenue to $8.56 billion and a 25.7% jump in gross profit to $30.38 million.

The company, a major player in the Asia Pacific jet fuel market, attributed its success to a 35.4% increase in total supply and trading volume, reaching 13.77 million metric tonnes. This was largely due to higher trading volumes in crude and fuel oil, as well as increased jet fuel supply.

CAO’s associates also contributed to this growth, with a notable 18.6% increase in share of results, amounting to $27.44 million. This was primarily due to higher refuelling volumes at Shanghai Pudong International Airport and increased contributions from Oilhub Korea Yeosu Co. Ltd.

Despite global economic uncertainties, CAO remains optimistic about the aviation industry’s recovery. CEO Lin Yi stated, “Supported by healthy recovery in the global aviation industry, rising demand across our key markets and new opportunities posed by the low-carbon business, CAO is well positioned to benefit from these opportunities.”

The company maintains a robust financial position with no net interest-bearing debt and an increase in cash and cash equivalents to $515.33 million as of 30 June 2025. Looking ahead, CAO aims to expand its trading network and focus on sustainable aviation fuel as a key growth area.
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MetaComp, a subsidiary of Alpha Ladder Group and a licensed Major Payment Institution by the Monetary Authority of Singapore, has successfully executed the first real-world cross-border payment using the CNT Carbon Stablecoin framework. This landmark transaction, completed on 14 August 2025, facilitated a same-day settlement from Euros to offshore Chinese Yuan, demonstrating the efficiency and sustainability of blockchain-enabled carbon-backed stablecoins.

The CNT Carbon Stablecoin framework, patented in Singapore by Alpha Ladder Group, converts verified decarbonisation activities into programmable stablecoins. Each coin is issued against certified emission reductions, ensuring full auditability through Alpha Ladder’s Non-Fungible Digital Twin technology. This innovation allows for faster and cheaper settlements by bypassing multiple intermediaries, traditionally required for such transactions.

The transaction was processed via MetaComp’s StableX platform, which leverages stablecoins for programmable foreign exchange operations. The CNT carbon stablecoins used were backed by Chinese Certified Emission Reduction credits from a wind power project in Zhangjiakou City, verified by China’s national carbon credits registry.

Tin Pei Ling, Co-President of MetaComp, remarked, “This first real-world transaction shows that sustainable cross-border payments are not a future concept—they are here today.” By integrating Alpha Ladder’s patented framework, MetaComp aims to enable institutions to conduct global transactions with both financial efficiency and verifiable climate benefits.

Alpha Ladder Group continues to advance its mission of Digital Green Transformation, building an interoperable financial infrastructure that promotes faster, greener, and more inclusive global transactions.
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Income Insurance has unveiled a limited-edition card game, The Singaporean Dream: Income 55th Anniversary Edition, to celebrate its 55th anniversary and Singapore’s Diamond Jubilee. Developed in collaboration with the creators of the original The Singaporean Dream, the game uses humour and satire to reflect everyday Singaporean experiences whilst highlighting the importance of insurance in protecting aspirations.

The game, which allows players to “pay, steal, sabo, and insure” their way to success, mirrors real-life financial challenges such as travel disruptions and health scares. This initiative is part of Income Insurance’s strategy to make financial planning more relatable and engaging, particularly for younger demographics. “The Singaporean Dream means something different to everyone, and we believe that with proper financial planning and the right protection, people can feel confident turning those dreams into reality,” said Andrew Yeo, Chief Executive at Income Insurance.

Theresa Syn, founder of The Singaporean Dream, expressed excitement about the collaboration, stating, “We reimagined the gameplay to reflect how financial decisions and protection come into play in real life.”

The card game is available to customers purchasing family travel insurance from 8 August, and pop-up play zones will be set up at Income Insurance branches from 1 September. This initiative is part of a broader series of activities marking Income’s 55th anniversary, including promotions and community support programmes. Through these efforts, Income Insurance aims to spark national conversations about protecting the Singaporean Dream.
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The National University of Singapore (NUS) Business School is celebrating its 60th anniversary, coinciding with Singapore’s 60th year of independence and NUS’ 120th anniversary. Under the theme “Shaping The Next,” the School is reaffirming its commitment to nurturing talents that have significantly contributed to the development of Singapore, Asia, and beyond.

Since its inception in 1965 with just 21 students, NUS Business School has grown into a globally respected institution, now educating over 6,000 students across undergraduate and postgraduate levels. Over the past six decades, the School has been instrumental in cultivating business and community leaders, with its 50,000 alumni impacting economies and industries worldwide.

Distinguished Professor Andrew Rose emphasised the School’s influence, stating, “Over the past 60 years, NUS Business School has played a central role in shaping business talent for Asia, reflecting our continued commitment to building executive capacity—leaders who can drive innovation, lead high-performing teams, and deliver impact to meet the demands of the region.”

NUS Business School is recognised for its management thought leadership from an Asian perspective, consistently ranking highly in global and regional evaluations. It holds accreditations from AACSB International and EQUIS, ensuring it meets the highest standards in business education. As it celebrates this milestone, the School looks forward to continuing its legacy of excellence in shaping future business leaders.
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Steve Leung Design Group has introduced two new dining experiences at Resorts World Sentosa, Singapore: KA-MON, a modern take on a traditional Japanese grill, and Sugarra, which celebrates Basque-Spanish cuisine. Led by Chief Creative Officer Mai Chongchaiyo, these venues aim to blend cultural authenticity with innovative design, offering guests a unique culinary journey.

KA-MON reinterprets Japanese grilling techniques, featuring live cooking stations such as Genshiyaki, Warayaki, and Robatayaki. The restaurant’s design incorporates handcrafted wood and straw-textured walls, creating an earthy, intimate atmosphere. A private dining room offers a secluded space for personalised chef experiences, enhancing the restaurant’s focus on culinary artistry.

Sugarra, on the other hand, draws inspiration from Basque-Spanish flavours, with olive oil as a central theme. The restaurant’s design includes an arch tunnel lined with olive oil funnels, setting the stage for a sensory dining experience. The main dining area features a visual kitchen framed by gradient glass panels, allowing diners to witness the culinary action.

Mai Chongchaiyo stated, “Seamless integration of storytelling, cuisine, and design enables guests to genuinely connect with the cultural essence of each restaurant.” Both KA-MON and Sugarra aim to offer immersive environments where every detail contributes to a memorable dining experience.

These new additions to Resorts World Sentosa highlight Steve Leung Design Group’s commitment to creating spaces that honour tradition whilst embracing innovation, providing guests with a multisensory journey that extends beyond the meal itself.
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In response to the devastating 7.7 magnitude earthquake that struck Mandalay, Myanmar, in March, Insternity Group, in collaboration with Myint Mo Shyan, MyanLife, and the KBZ Foundation, has initiated a rapid reconstruction effort using modular building technology. This partnership aims to provide immediate relief and long-term support to the affected communities.

The innovative use of modular construction has enabled the swift deployment of essential infrastructure, including offices and residential units, crucial for restoring services in the region. “When the earthquake struck Myanmar, I was determined to provide the fastest and most effective response for the victims,” said Saw Dino Ku, Managing Director of Myint Mo Shyan. The modular approach offers faster construction times, potentially lower costs, and higher energy efficiency compared to traditional methods.

Insternity Group and Myint Mo Shyan have constructed modular offices and dormitories for the KBZ Foundation, ensuring uninterrupted operations and financial services. MyanLife, leveraging its charitable experience, coordinated relief resources and assessed community needs to ensure that reconstruction efforts effectively addressed the population’s requirements.

Barbie Tsai, CEO of Insternity Group, emphasised the importance of empathy in disaster response, stating, “Our goal is to rebuild hope through construction—creating not just shelters but foundations for a new future.” The collaboration highlights the critical role of modular solutions in disaster resilience and sustainable reconstruction.

This cross-national effort underscores the power of international cooperation and corporate social responsibility, setting a new benchmark for future disaster response initiatives. By combining Singapore’s architectural expertise, Myanmar’s local capabilities, and MyanLife’s philanthropic experience, the partnership aims to build long-term resilience in Mandalay.
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The International Built Environment Week (IBEW) 2025 is set to return to Singapore from 3–5 September at the Expo & Convention, Marina Bay Sands. Organised by BCA International in partnership with RX Singapore, this year’s event will introduce the IBEW Expert Series, aiming to enhance the skills of built environment professionals. The series will focus on bridging the gap between current industry knowledge and future specialisation.

The theme, “Today’s Professional, Tomorrow’s Expert,” highlights the importance of technical mastery and real-world application. Attendees can expect sessions on prefab efficiency, carbon emissions tracking, and AI in Building Information Modelling (BIM), led by industry leaders like Andrew Dewdney from Kier Construction and Ethan Ow from Wenti Labs. The programme is designed to equip professionals with practical tools to drive innovation.

Alongside IBEW, BEX Asia 2025 will feature over 250 exhibitors showcasing innovations in digitalisation and sustainability. Highlights include a robotics and automation showcase and Obayashi’s 60th anniversary exhibition, unveiling advancements like carbon-capturing concrete.

Key events include the IBEW Industry & Awards Dinner on 3 September, recognising excellence in the sector, and the CORENET X Industry Seminar on 4 September, offering insights into Singapore’s regulatory transformation. The Building Engineering Seminar on 5 September will cover the latest in structural and geotechnical engineering.

IBEW 2025 aims to empower professionals to lead in creating a resilient built environment. Early bird registration is now open. For more details, visit the IBEW website.
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Seatrium Limited has announced a new partnership with Karpowership, marked by the signing of a Letter of Intent (LOI) in Singapore. This agreement aims to integrate four New Generation Powerships and convert three LNG carriers into Floating Storage and Regasification Units (FSRUs), with work commencing in the first quarter of 2027.

The collaboration underscores Seatrium’s strategic ambition to enhance its role in the global floating power infrastructure sector. The integration of Powerships will involve mechanical and electrical equipment integration, mechanical completion, and pre-commissioning. Karpowership will supply the hulls and key equipment for these projects.

Additionally, the conversion of LNG carriers into FSRUs will include the installation of regasification modules and the integration of systems such as cargo handling and automation. This initiative is part of Seatrium’s broader commitment to advancing sustainable and scalable maritime energy solutions.

Alvin Gan, Executive Vice President of Repairs and Upgrades at Seatrium, highlighted the significance of the partnership, stating, “This LOI marks a pivotal step in our journey to build a global franchise in floating power infrastructure.” Gokhan Kocak, Chief Technical Operations Officer at Karpowership, added, “We are proud to deepen our long-term partnership with Seatrium as we continue to grow our Powership and FSRU fleet.”

This agreement not only strengthens the partnership between the two companies but also positions them as key players in providing flexible and sustainable energy solutions worldwide.
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