Industry News

Space Summit 2026 commenced today at the Sands Expo and Convention Centre in Singapore, uniting government leaders, space agencies, industry executives, researchers, and investors. The event, opened by Dr Tan See Leng, Singapore’s Minister for Manpower and Minister-in-charge of Energy and Science & Technology, focuses on aligning policy, regulation, infrastructure, and commercial models in the global space ecosystem.

The two-day summit, running from 2 to 3 February, expects over 1,500 attendees and more than 300 participating companies and organisations. Representatives from 20 space agencies and over 60 speakers will engage in 12 panel sessions. The discussions aim to address the growing importance of space capabilities in economic development, resilience, and national security.

Leck Chet Lam, Managing Director of Experia Events, highlighted the summit’s role in fostering collaboration across aviation, aerospace, and space sectors. “Space systems are integral to how societies function and economies operate,” he stated, emphasising the need for alignment across governments, industry, and partners.

Jonathan Hung, Executive Director at the Office for Space Technology & Industry, Singapore, noted the summit’s significance in leveraging Singapore’s strengths in aerospace and advanced manufacturing. “It anchors Singapore as a key node for the global space community,” he said.

The event also announced several memoranda of understanding (MOUs) and partnership initiatives, reflecting increased collaboration within the global space ecosystem. These include agreements between Singapore’s Office for Space Technology & Industry and the Maldives Space Research Organisation, as well as the Spanish Space Agency.

The summit continues tomorrow, exploring the impact of space technologies on regional development and future economic opportunities.

DHL Health Logistics Singapore has announced a significant expansion of its capabilities, investing €10m in a new pharmaceutical hub. This strategic move aims to strengthen the logistics and healthcare infrastructure across the Asia-Pacific (APAC) region, positioning Singapore as a key player in the sector. The investment will enhance DHL’s specialised services for shipping life sciences and healthcare products internationally.

The new hub will serve as a critical node in DHL’s global network, facilitating the efficient movement of pharmaceutical products and medical equipment. This expansion is expected to improve the speed and reliability of healthcare logistics, addressing the growing demand for such services in the APAC region.

DHL’s investment comes at a time when the logistics industry is increasingly focusing on the healthcare sector, driven by the need for robust supply chains that can handle sensitive and time-critical shipments. The new facility will incorporate advanced technologies to ensure the safe and efficient handling of pharmaceutical products, which often require stringent temperature controls and rapid delivery times.

The expansion is anticipated to have significant implications for the region, enhancing Singapore’s role as a strategic logistics hub. As the demand for healthcare logistics continues to rise, DHL’s enhanced capabilities are set to play a crucial role in meeting the needs of the life sciences and healthcare industries in the APAC region.

Payoneer Global Inc., a leading financial technology company, has announced the expansion of its global payment platform with new collection capabilities in Indonesia and enhanced local services in Mexico. This development introduces local receiving accounts in Indonesian Rupiah (IDR) and Mexican Peso (MXN), allowing businesses to transact and receive funds more efficiently from local buyers and ecommerce platforms.

The expansion is particularly significant for small and medium-sized enterprises (SMEs) operating through Singapore, a hub for managing multi-market operations. As Southeast Asia’s largest ecommerce market, Indonesia represents over half of the total online business volume within the ASEAN bloc. Payoneer’s new capabilities enable SMEs to collect funds directly from local marketplaces, offering greater control over foreign exchange management.

In Mexico, the enhanced collection services facilitate quicker activation of revenue corridors as part of broader multi-market strategies. This move reduces friction for global sellers entering the Mexican market and supports shifting international demand. Customers can now collect funds across multiple channels, enabling local collections from major ecommerce marketplaces.

Nagesh Devata, SVP of APAC at Payoneer, stated, “Singapore has long been a gateway for companies expanding beyond their home market — and today that expansion is happening in more directions than ever. By enabling local receiving accounts in Indonesia and Mexico, we’re helping businesses run new corridors ‘through Singapore’ with the speed and confidence of local payments.”

Payoneer plans further expansions in Latin America and the Asia Pacific through 2026, aiming to support the global ambitions of its nearly 2 million customers.

Better Things, a Singapore-founded community-as-a-service platform, has launched to bring shared services and experiences into residential neighbourhoods. The platform allows residents to host and join activities such as fitness sessions, workshops, and community gatherings, whilst enabling small business owners to reach new audiences without high overheads. Better Things was also selected for the Long Life Venture Builder (LLVB) programme by the London School of Economics, highlighting its innovative approach to community living.

The platform, supported by Singapore Management University’s Institute of Innovation and Entrepreneurship, has already attracted over 1,000 users and organised more than 100 sessions across Singapore and Johor. These sessions range from yoga and pilates to culinary workshops and children’s playdates, fostering community connections and personal growth.

Jeanette Wu, Founder of Better Things, emphasised the platform’s mission: “Better Things is built upon the belief that our homes can and should be the foundation for a more self-directed, connected and fulfilling way of life, optimised for human flourishing.”

Better Things also launched the Build and Found programme to support micro-entrepreneurs and hyperlocal businesses. This initiative helps service providers like fitness instructors and private chefs lead classes within residential communities, reducing barriers such as high rental costs.

Service providers have praised the platform for connecting them with engaged communities and suitable spaces. Jedidiah Huang from The Jedi Chess Academy noted, “Better Things solves that by connecting us with welcoming, well-equipped residential venues and learners who are passionate.”

As Better Things continues to grow, it aims to transform residential areas into vibrant, service-rich spaces, enhancing community living and supporting local businesses.

Therme Group has appointed Tan Boon Khai as the Chief Executive Officer of Therme Group Singapore. With over 30 years of experience in both public and private sectors, Tan will spearhead the development of Therme Singapore, Asia’s first next-generation urban wellbeing destination at Marina South. This appointment is part of Therme Group’s global expansion in the wellness industry.

Tan previously served as CEO of JTC Corporation, where he led significant transformations in Singapore’s industrial landscape. His extensive career also includes roles as Chief Executive of the Singapore Land Authority and senior positions at CapitaLand and Ascott Limited.

The upcoming Therme Singapore project, set to open in 2030, is a S$1b investment designed to be an inclusive wellness destination. Located on a 4-hectare waterfront site near Marina Barrage and Gardens by the Bay, it aims to promote holistic wellness and community vitality. The resort is expected to attract around 2 million visitors annually, with half anticipated to come from overseas.

Mah Bow Tan, Chairman of Therme Group Asia, highlighted the strategic importance of Singapore for showcasing Therme’s wellness concepts and technology. He stated, “Boon Khai’s leadership track record, deep expertise, and strong stakeholder relationships will be invaluable in ensuring that Therme Singapore becomes an iconic wellness destination.”

Tan expressed his enthusiasm for the project, stating, “Singapore is uniquely positioned to become a leading hub for urban wellbeing in Asia.” The development aims to enhance the vibrancy of the Marina South Coastal area and deliver on Therme’s vision of “Wellness for All.”

Singaporeans are gearing up for the Lunar New Year with travel plans to popular destinations such as Kuala Lumpur, Bangkok, and Tokyo, according to Trip.com data. This year, 53% of bookings were made over 60 days in advance, a 3% rise from 2025, indicating a trend towards earlier planning. Additionally, there is a notable 10% increase in flights booked for mid to long-haul destinations compared to last year.

The demand for inbound travel to Singapore remains robust, with China, Malaysia, and Indonesia leading as the top source markets. Universal Studios Singapore emerges as the most booked attraction for visitors, followed by Night Safari and Singapore DUCKtours.

Edmund Ong, General Manager of Trip.com Singapore, noted, “This Lunar New Year is truly igniting the spirit of reunion and discovery. We’re seeing more Singapore families embracing the opportunity to travel together, using the long holiday and attractive exchange rates to create cherished memories in new places abroad.”

Singaporeans continue to favour nearby cities for their getaways, with Kuala Lumpur, Bangkok, and Tokyo topping the list. However, there is a growing interest in Mainland China, with travel bookings to Guangzhou and Shanghai increasing by nearly 200% year-on-year.

Trip.com offers over 300,000 bookable activities and experiences across 2,000 cities, enhancing travel options for users. The platform’s recent partnerships with Live Nation and DreamUs aim to expand its offerings further. As the Lunar New Year approaches, the travel landscape reflects a blend of tradition and new explorations.

AJJ Medtech Holdings Limited, a Singapore Exchange-listed Medtech solutions provider, and China’s Huaxi Intelligent Technology Co., Ltd. have announced a strategic roadmap for their new humanoid eldercare robot. This innovative robot is designed to become the world’s first medical-grade multifunctional companion in the eldercare industry, aiming to revolutionise care for seniors globally.

The roadmap outlines the robot’s potential to alleviate workforce shortages by saving approximately 2.3 full-time equivalent caregiver positions per day. This development is particularly significant as it addresses the growing demand for eldercare amidst a global ageing population. The robot is engineered to comply with stringent medical, safety, and privacy standards, ensuring trust and reliability in its use.

The collaboration between AJJ and Huaxi Intelligent highlights a commitment to integrating artificial intelligence (AI) with robotics to provide compassionate and intelligent companionship for seniors. The robot is expected to offer a range of services, from health monitoring to companionship, thereby enhancing the quality of life for the elderly.

As the roadmap progresses, the companies plan to expand the robot’s capabilities, ultimately creating a comprehensive AI-driven ecosystem for smart elderly care. This initiative could significantly impact how eldercare is delivered, offering a scalable solution to meet the increasing demands of an ageing population.

ESR-REIT Management (S) Limited has announced the divestment of a hotel strata lot at ESR BizPark @ Changi, Singapore, for approximately S$101m. The transaction, executed through a put and call option agreement with Coliwoo Project Ace Pte Ltd, aligns with ESR-REIT’s strategy to focus on its industrial core by offloading non-core assets.

The hotel strata lot, located at 2 Changi Business Park Avenue 1, includes a hotel block with over 250 rooms and retail space. The sale proceeds will be used to finance accretive acquisitions, asset enhancement initiatives, and debt repayments. Adrian Chui, CEO of ESR-REIT, stated, “The hotel component is a non-core asset within our portfolio, and its divestment enables us to further sharpen our strategic focus whilst meaningfully enhancing the overall quality, resilience and earnings visibility of our portfolio.”

Following the divestment, ESR-REIT retains ownership of the business park, retail, and convention centre components at ESR BizPark @ Changi, which constitute 81% of the total gross floor area. The divestment is expected to complete in Q1 2026 and will not materially impact ESR-REIT’s net asset value or distribution per unit for the financial year ending 31 December 2025.

This strategic move is part of ESR-REIT’s broader plan to enhance its portfolio’s value and resilience, focusing on logistics and high-specifications industrial assets. The divestment also eliminates operating expenses and capital expenditure associated with the hotel component, which has not contributed income since September 2025.

Narra Residences, a new development in district 23, successfully sold 128 units during its launch weekend. Huttons Asia CEO Mark Yip noted that the project, which is situated in a private residential enclave, offers a tranquil environment with proximity to nature, attracting buyers with its accessible entry price starting at $1,930 per square foot (psf). This price point is notably lower than the average selling price of $2,264 psf for projects in the Outside Central Region (OCR).

The launch saw a diverse range of unit types being snapped up, with 30% to 40% of buyers coming from Housing Development Board (HDB) addresses, whilst the remainder hailed from private residential addresses. Investors showed particular interest in the one-bedroom and two-bedroom units, aiming to meet tenant demand from nearby educational institutions such as the German European International School and The Perse School.

Owner-occupiers, especially those with compact family units, also favoured the two-bedroom options. Meanwhile, families were drawn to the three-bedroom units due to the development’s proximity to several reputable schools, including CHIJ Our Lady Queen of Peace, Bukit Panjang Primary School, The Perse School (Singapore), and GESS International School.

The successful launch of Narra Residences highlights the continued demand for well-located residential projects in Singapore’s OCR, particularly those offering competitive pricing and access to educational facilities.

Singapore and the European Union (EU) have officially strengthened their economic partnership with the implementation of a new Digital Trade Agreement. This development marks a significant step in enhancing digital trade and cooperation between the two regions. The agreement, which has now entered into force, aims to facilitate seamless digital transactions and improve the regulatory environment for businesses operating across borders.

The Digital Trade Agreement is designed to address the growing importance of digital trade in the global economy. It seeks to create a more conducive environment for businesses by reducing barriers and ensuring the free flow of data across borders. This is expected to benefit companies by providing greater access to markets and fostering innovation.

The agreement also includes provisions to protect consumer rights and ensure data privacy, reflecting the shared commitment of Singapore and the EU to uphold high standards in digital trade. By aligning regulatory frameworks, the agreement aims to create a level playing field for businesses and enhance trust in digital transactions.

This partnership is expected to boost economic growth and create new opportunities for businesses in both regions. As digital trade continues to expand, the agreement positions Singapore and the EU as leaders in promoting open and secure digital markets.

In conclusion, the Digital Trade Agreement between Singapore and the EU represents a significant milestone in their economic relationship. By facilitating digital trade and enhancing regulatory cooperation, the agreement is set to drive economic growth and innovation in both regions.