Industry News

The Ritz-Carlton, Millenia Singapore has announced a groundbreaking partnership with EPICUTIS®, a science-driven skincare brand developed by Signum Biosciences. This collaboration marks the debut of EPICUTIS® in Southeast Asia, with The Ritz-Carlton Spa Singapore becoming the brand’s flagship property in the region. The partnership aims to redefine luxury wellness by integrating advanced molecular science with indulgent spa rituals.

The introduction of EPICUTIS® at The Ritz-Carlton Spa positions it as the first luxury spa in Southeast Asia to offer this cutting-edge skincare line. The collaboration reflects a growing trend in the luxury hospitality sector towards integrative health and holistic wellness. The spa’s exclusive menu now includes facials and advanced treatments that promise not only refined comfort but also clinically-proven therapeutic efficacy.

“The Ritz-Carlton Spa’s latest offerings seamlessly blend indulgent spa rituals with advanced molecular science,” the press release stated. This move underscores the hotel’s commitment to providing a balanced and refined lifestyle rooted in holistic well-being.

As the flagship property for EPICUTIS® in Southeast Asia, The Ritz-Carlton Spa Singapore is set to lead the way in luxury wellness, offering guests an unparalleled experience that combines the best of science and relaxation. This partnership is expected to enhance the spa’s reputation as a leader in luxury and innovation.

The Maritime and Port Authority of Singapore (MPA) and RINA, a multinational engineering consultancy, have signed a Memorandum of Understanding (MoU) to establish a technology demonstration centre in Singapore. Signed on 5 November 2025, the agreement aims to advance maritime innovation, digitalisation, decarbonisation, and talent development.

The centre will be part of RINA’s Open Innovation Hub and will serve as a collaborative platform to co-create and trial innovative solutions. It will focus on developing remote and smart maritime systems and provide integrated platforms to validate and accelerate the deployment of new technologies in real-world operations.

This partnership will also enhance collaboration with Singapore’s research ecosystem, promoting the adoption of technologies such as smart ships, low-carbon marine fuels, battery systems, and digital ports. These efforts are designed to bolster Singapore’s maritime innovation ecosystem and support the sector’s transition towards smarter and more sustainable operations.

In addition to technological advancements, RINA will collaborate with MPA to support workforce development in Singapore. This will include participation in industry manpower programmes and offering education, training, internship, and scholarship opportunities to prepare future maritime professionals for the digital and low-carbon transition.

Ang Wee Keong, Chief Executive of MPA, stated, “The MoU with RINA marks an important step in strengthening Singapore’s maritime innovation ecosystem.” Carlo Luzzatto, CEO of RINA, added, “By embracing an open approach with Singapore’s ecosystem, we aim to create value for its maritime sector and beyond.”

This initiative is expected to significantly contribute to the maritime sector’s evolution, making it more efficient and environmentally friendly.

Apptio, an IBM company, has introduced next-generation FinOps solutions through IBM Cloudability and IBM Kubecost, designed to enhance visibility and optimise cloud costs in AI-driven environments. As AI adoption in Singapore surges to over 60%, businesses face escalating cloud expenses. Apptio’s solutions aim to address these challenges by providing real-time visibility and financial accountability.

The launch includes Cloudability Governance, which integrates with HashiCorp Cloud Platform and Terraform to automate cost compliance and provide near real-time cloud spend visibility. This tool helps organisations maintain cost control and compliance in fast-scaling AI environments. “Our customers want accurate, real-time visibility into the cost implications of the infrastructure they manage,” said Armon Dadgar, CTO and co-founder of HashiCorp.

Kubecost 3.0, another key component, offers a unified view of Kubernetes environments, enhancing resource efficiency and security. It provides advanced savings recommendations and tools for managing resource allocation across clusters.

Eugene Khvostov, Chief Product Officer at Apptio, highlighted the importance of these solutions: “Generative AI is not only pushing the limits of cloud infrastructure; it’s challenging the ability of technology and business leaders to make informed decisions.”

With enterprise AI infrastructure investments projected to reach $571b globally by 2026, Apptio’s FinOps solutions are positioned to help organisations harness AI’s potential whilst managing costs effectively. The new tools are available now, with demonstrations planned at upcoming industry conferences.

CBD Grade A office rents in Singapore have increased for the sixth consecutive quarter, reaching S$9.93 per square foot (psf) in Q3 2025, according to Savills’ latest report. This marks the highest level since Q1 2020, when rents were S$10 psf. The rise is attributed to strong office occupancies and a limited supply of new buildings, leading to higher rental expectations from landlords.

The report highlights a 0.8% quarter-on-quarter (QoQ) increase in rents, with a year-on-year (YoY) growth of 2.1%, the fastest since Q4 2022. Grade AAA office rents saw the most significant rise, increasing by 1.0% QoQ to S$13.19 psf, the highest since Q1 2015. Meanwhile, Marina Bay’s office rents surged by 1.1% QoQ to S$13.17 psf, also the highest since Q1 2015.

Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, noted, “Owing to the lack of new supply for Grade A CBD offices from now to end-2027, we believe that office rents for Grade A offices should continue to rise at rates about 2-3% per annum for the next two years.”

Despite uncertain business prospects, the limited supply of Grade A office space is expected to sustain rental growth. Companies may attempt to downsize or lease out excess space, but the tight supply is likely to keep vacancy rates low. Savills anticipates that this trend will persist until significant new stock becomes available.

Health Management International Pte Ltd (HMI Medical), a leading healthcare services provider in Singapore, has announced a partnership with Workday, Inc., an enterprise AI platform, to drive digital transformation across its operations. This collaboration marks Workday’s first foray into Singapore’s healthcare sector, aiming to enhance HMI Medical’s operational agility and efficiency.

HMI Medical, which manages over 2,800 staff across Southeast Asia, will implement Workday’s suite of cloud-based management products, including Human Capital Management, Financial Management, Adaptive Planning, and Contract Intelligence. These tools, powered by Workday’s AI platform Illuminate, will enable HMI Medical to streamline workflows, enhance productivity, and leverage real-time data for better decision-making.

Chin Wei Jia, Group CEO of HMI Medical, highlighted the significance of this partnership, stating, “Adopting Workday’s AI-powered tools is a key step in building a future-ready workforce at HMI Medical. With AI, we can use data more intelligently, make faster and better decisions, and respond more effectively to the needs of our people. This agility drives our digital transformation and enables us to keep improving care for our patients and communities.”

The partnership is expected to automate repetitive tasks, allowing HMI Medical’s employees to focus on strategic initiatives and improve patient care. Jess O’Reilly, general manager for ASEAN at Workday, commented on the importance of agility and compliance in healthcare, expressing pride in supporting HMI Medical’s digital journey.

This strategic move will provide HMI Medical with a comprehensive view of its workforce and financial data, enabling more agile responses to changing patient and staffing needs, ultimately enhancing the overall healthcare experience.

The S3 Conference 2025 in Singapore marked the launch of the first healthcare simulation certification programmes tailored for Southeast Asian professionals. The Certified Educator in Healthcare Simulation (CEHS) and Certified Technologist in Healthcare Simulation (CTHS) programmes were introduced to provide specialised training for doctors, nurses, and technical specialists in the region. The event was attended by Tan Kiat How, Senior Minister of State, Ministry of Digital Development and Information & Ministry of Health.

Existing international certifications, primarily based on American contexts, have resulted in low pass rates for Southeast Asian participants, with figures standing at 14.6% and 15% for the Certified Healthcare Simulation Educator and Certified Healthcare Simulation Operations Specialist programmes, respectively. The new CEHS and CTHS programmes aim to bridge these gaps by offering content that reflects Southeast Asian healthcare settings and scheduling that suits regional time zones.

The programmes are set to commence by the end of 2026, initially training 50 participants in the first year. Plans are in place to expand the intake over five years to address the increasing demand for healthcare simulation professionals in the region. Key benefits of these certifications include contextualised examination content and training scheduled for Southeast Asian time zones, making them more accessible and relevant to local healthcare professionals.

Singapore has emerged as the second most expensive market globally for data centre construction, according to the 2025 Data Centre Construction Cost Report by Turner & Townsend. The report reveals that construction costs in Singapore have reached US$14.53 per watt, marking a 5% increase from the previous year. This surge is attributed to the growing demand for AI-powered infrastructure and the integration of advanced cooling technologies.

The report, which analyses data centre construction costs across 52 global markets, highlights a significant rise in capital expenditures driven by AI demand. These expenditures have increased by 20-40% due to the need for upgraded electrical infrastructure and advanced cooling systems. Additionally, the report notes persistent challenges in power access and procurement, with lead times for critical equipment such as switchgear extending from nine to 18 months, thereby delaying project timelines.

Despite these rising costs, Singapore remains an attractive hub for AI-powered digital infrastructure investments. The city-state’s policy stability, regulatory maturity, and alignment with environmental, social, and governance (ESG) principles contribute to its resilience in the sector. Alex Quek, Project Director at Turner & Townsend, emphasises Singapore’s position as Asia’s leading hub for AI-powered data centres, noting its infrastructure and policy stability as key factors attracting investment.

The report underscores the importance of sustainability in shaping the future of data centre development in Singapore, with innovative approaches needed to overcome challenges in cooling technology and supply chain management. As the demand for AI workloads grows, Singapore continues to adapt to the increasing power demands, maintaining its status as a pivotal player in the global data centre landscape.

Kallang Alive Sport Management (KASM) has announced a significant upgrade to the Singapore Sports Hub’s digital infrastructure by introducing Wi-Fi 7, in collaboration with M1 and Cisco. This next-generation network aims to provide seamless, high-density, and low-latency connectivity, enhancing fan experiences during major sports, entertainment, and lifestyle events. The phased implementation is expected to be completed by the first half of 2026.

The introduction of Wi-Fi 7 is set to transform the Singapore Sports Hub into a digitally empowered venue, offering patrons robust and high-performance wireless internet access. This upgrade is crucial as Singapore continues to attract international events and visitors. Quek Swee Kuan, CEO of KASM, stated, “This new Wi-Fi network is an important infrastructure investment that will lay a strong foundation for our digital transformation at the Singapore Sports Hub.”

M1, as the network system integrator, will lead the deployment, ensuring an agile and future-ready infrastructure. The network will feature lightning-fast, low-latency connectivity and next-generation firewalls for security. M1 and KASM will also explore AI analytics to further enhance operational efficiency and visitor experiences.

Cisco’s Wi-Fi 7 technology, featuring the industry’s first enterprise-grade, high-density access point, will support this transformation. Tay Bee Kheng, President of Cisco ASEAN, remarked, “With Cisco’s Wi-Fi 7 technology, we are setting a new benchmark for secure, high-performance networks that power immersive fan experiences.”

The project underscores Singapore’s commitment to becoming a global leader in redefining live event experiences through cutting-edge technology.

Singapore’s National Quantum Office (NQO) has entered a strategic partnership with Quantinuum, a leading quantum computing company, to accelerate quantum computing advancements in Singapore. Announced on 6 November 2025, the agreement will see Singapore become the first country outside the US to host Quantinuum’s Helios quantum computer by 2026.

The partnership, facilitated through the National Quantum Computing Hub (NQCH), aims to strengthen Singapore’s position as a global hub for quantum computing. It will focus on advancing quantum hardware, software, and talent development. Researchers in Singapore will gain immediate cloud access to Helios, fostering deeper research collaboration and innovation.

Quantinuum will also establish a Research and Development (R&D) and Operations Centre in Singapore. This centre will collaborate with local researchers and industry partners to develop middleware and applications that integrate classical and quantum systems. The initiative aims to translate quantum technologies into commercially viable solutions, enhancing Singapore’s long-term R&D capabilities.

The partnership will further bolster Singapore’s quantum ecosystem through industry programmes and talent development initiatives, including internships and workshops. These efforts will target areas such as computational biology, financial modelling, and advanced materials, aiming to nurture a community of quantum specialists.

Ling Keok Tong, Executive Director of NQO, stated, “This partnership marks an important step in building Singapore as a leading quantum computing hub.” Quantinuum’s CEO, Rajeeb Hazra, added, “Together, we’re strengthening a hub that will accelerate the commercialisation of quantum computing.”

This collaboration builds on previous agreements with Singapore’s quantum ecosystem, setting the stage for future advancements in the field.

DBS, the largest bank in Southeast Asia by assets, has successfully implemented the Multifonds Fund Accounting Platform in Singapore, Hong Kong SAR, and Indonesia. This move, completed in 15 months by a joint team from DBS and Multifonds, aims to streamline the bank’s operations and enhance service quality in the region’s dynamic markets.

The Multifonds platform supports both traditional and alternative funds, integrating asset servicing, position keeping, valuation, and accounting functions. This comprehensive solution allows DBS to achieve high rates of straight-through processing (STP), improving operational efficiency. Notably, DBS is the first client in Asia to adopt the latest version of this platform, which includes the Workflow and Exception Manager (WEM) and integration of Fund Accounting and Transfer Agency systems to streamline the Net Asset Value (NAV) process.

DBS selected Multifonds after a rigorous evaluation process, recognising its capability to handle market-specific requirements with multi-asset coverage, including complex derivatives. The platform supports a wide range of fund structures, such as advanced profit and loss allocation per share class. Additionally, Multifonds is collaborating with DBS to develop regulatory reports tailored to the Indonesian market, ensuring compliance with evolving regulations.

Oded Weiss, CEO of Multifonds, expressed enthusiasm about the partnership, stating, “We are delighted to be chosen as the fund accounting platform for such a prestigious and world-leading bank.” The collaboration is expected to strengthen DBS’s technology capabilities and expand functionalities to meet the needs of other Asian markets.