Industry News

Marco Polo Marine Ltd, a leading regional marine logistics company, has signed a conditional sale and purchase agreement with Fuji Offset Plates Manufacturing Ltd for a reverse takeover valued at up to S$139m. The agreement involves Fuji Offset Plates acquiring the entire issued share capital of Marco Polo Shipyard Pte Ltd and MP Marine Pte Ltd, which operate the group’s shipyard business, including PT Marcopolo Shipyard in Indonesia.

The terms of the agreement, initially outlined in a binding term sheet on 15 May 2026, remain largely unchanged. The shipyard business is valued at a base consideration of S$120m, with an additional deferred earn-out of up to S$19m. The shipyard business reported a revenue of S$72.8m and a net profit after tax of S$10.6m for the first nine months of FY2026.

Upon completion of the transaction, Marco Polo Marine will hold approximately 74.1% of the enlarged purchaser, which will be renamed MPSE Ltd. This stake could increase to 76.8% following the full issuance of the deferred consideration shares.

Sean Lee, Executive Director and CEO of Marco Polo Marine, stated, “Signing the definitive agreement takes the proposed transaction from intention to commitment. The nine-month results we are disclosing today show a shipyard business that has recovered strongly.” He emphasised that the transaction will provide the shipyard business with its own access to capital whilst allowing shareholders to continue participating through Marco Polo Marine’s controlling stake.

The completion of this transaction is expected to enhance market visibility and provide a dedicated platform for the shipyard business’s growth and capital access.

DHL Group is significantly enhancing its Life Sciences and Healthcare capabilities in Singapore with a series of strategic investments aimed at reinforcing the nation’s status as Asia Pacific’s premier life sciences hub. This initiative includes the development of new and expanded facilities such as the upcoming Pharma Hub 2, the Singapore Coldchain Hub, and a GDP-compliant healthcare space at DHL Express South Asia Hub.

The investments are designed to cater to the growing demand for temperature-sensitive and high-value healthcare supply chains. Asia Pacific’s pharmaceutical logistics market is projected to grow from US$163b in 2025 to nearly US$239b by 2031, driven by the rising demand for biologics and vaccines. DHL’s new infrastructure will support the transport, storage, and distribution of pharmaceuticals, medical devices, and clinical trial materials across the region.

DHL Global Forwarding’s Singapore Coldchain Hub, located at Changi Nexus One, will provide 3,047 square metres of GDP-aligned, temperature-controlled infrastructure. This facility is set to launch in late 2027 and will ensure an unbroken cold chain for healthcare cargo, minimising temperature excursions and preserving product integrity.

Additionally, DHL Supply Chain is expanding its footprint with a second pharma hub, offering 8,000 square metres of controlled ambient storage. This facility will accommodate approximately 7,680 pallet positions and is expected to begin operations by the first half of 2027.

DHL is also investing in specialised healthcare logistics expertise, ensuring that temperature-sensitive products are handled consistently. The company is collaborating with partners like Life Science Incubator to support emerging healthcare businesses, aiming to strengthen the broader healthcare logistics ecosystem.

Fugro has announced the expansion of its innovation activities in Singapore with the development of an AI-driven marine digital twin capability. This initiative, supported by the Singapore Economic Development Board (EDB), is set to enhance Fugro’s global growth strategy by strengthening Singapore’s role as its Asia Pacific hub for marine Geo-data innovation. The platform aims to help clients make faster, more informed decisions for offshore and coastal developments.

The AI-enabled platform will unify geophysical survey data, geotechnical site investigation results, laboratory data, and imaging into a single digital analytics environment. This integration is expected to automate data processes, breaking down data silos and improving efficiency. As a result, it will provide more predictive ground intelligence, enhancing decision-making for offshore and coastal projects globally.

Soo Haw Yun, Vice President of Global Enterprises at EDB, expressed confidence in Singapore’s R&D ecosystem and digital talent pool, stating, “The expansion will deepen Singapore’s capabilities in applying AI to offshore and coastal developments, whilst creating job opportunities for our local workforce.”

Safri Drahman, Regional Line Director for Marine Site Characterisation Asia Pacific, highlighted the importance of the initiative, noting, “As offshore projects become increasingly complex, the ability to turn data into actionable insights is more important than ever.”

Fugro’s expansion is expected to create new roles in AI, data science, and digital engineering in Singapore. This development underscores Singapore’s growing importance as a centre for digital innovation in marine Geo-data, with potential global implications as the platform scales.

Sentosa Development Corporation has announced the Greater Sentosa Master Plan (GSMP), a visionary project aimed at transforming Sentosa Island into a premier destination for leisure and relaxation. The plan, revealed on 3 September, includes the integration of Brani Island into Sentosa, creating new spaces for attractions, hotels, and next-generation experiences.

The GSMP is set to introduce several new iconic landmarks, including the Imbiah Canopy, Imbiah Lookout Walk, and Sensorium. These developments are designed to enhance Sentosa’s appeal as a destination for both locals and tourists. The Imbiah Canopy will offer a unique elevated experience, whilst the Sensorium aims to engage visitors through immersive sensory experiences.

The reimagining of Sentosa’s beaches is also a key component of the plan. The beaches will be revitalised to provide more engaging and relaxing environments, encouraging visitors to enjoy the natural beauty of the island. This initiative is part of a broader effort to redefine how Singaporeans and tourists play, relax, and bond on the island.

The GSMP represents a significant step forward in Sentosa’s development strategy, aiming to position the island as a leading leisure destination in the region. By expanding its offerings and enhancing its attractions, Sentosa Development Corporation hopes to attract a diverse range of visitors and boost Singapore’s tourism industry.

As the project progresses, Sentosa Development Corporation will continue to unveil more details about the new attractions and experiences planned under the GSMP, promising a dynamic and vibrant future for Sentosa Island.

Barclays Private Bank has launched a new booking centre in Singapore, aiming to better serve ultra-high-net-worth (UHNW) clients and family offices globally. This strategic move underscores Singapore’s significance as a wealth hub and aligns with Barclays’ international growth strategy in the Asia Pacific region.

The new centre integrates local booking capabilities with Barclays’ international network, providing seamless access to banking, lending, investment, and wealth planning services. This initiative is part of Barclays’ “one Barclays” model, which combines the strengths of its Private Bank and Corporate and Investment Banks to offer comprehensive solutions to clients.

Sasha Wiggins, CEO of Barclays Private Bank and Wealth Management, highlighted the importance of this development, stating, “The launch of our Singapore booking centre marks an important milestone in delivering our growth strategy, enabling us to bring the full breadth of Barclays’ expertise to our clients.”

The Asia Pacific region is projected to become the largest wealth market by 2030, with an estimated $5.8t set to transfer between generations. This trend is driving demand for sophisticated financial advice, including investment financing, family governance, and cross-border wealth management.

Alexander Harrison, Country CEO, Singapore, and Interim Head of Private Bank Singapore, emphasised Singapore’s pivotal role in the global wealth landscape, noting that the new centre reflects Barclays’ long-term commitment to the market. “We are uniquely positioned to support clients whose businesses, families, and wealth span borders through one integrated bank,” he said.

This development is expected to strengthen Barclays’ ability to meet the increasingly international needs of its clients, reinforcing its commitment to the Asia Pacific region.

Oryon Networks, a Singapore-based technology solutions provider, has been appointed as an OpenAI SMB Channel Partner, aiming to accelerate the adoption of ChatGPT Business among small and medium-sized enterprises (SMEs) across Asia. This partnership allows Oryon to offer promotional coupons to eligible businesses interested in subscribing to ChatGPT Business, a tool designed to integrate AI capabilities into business operations.

The collaboration comes as generative AI continues to gain traction among SMEs, moving from experimental phases to becoming a staple in everyday business activities. ChatGPT Business offers a managed workspace with administrative controls and data protections, enabling businesses to enhance workplace communications, research, marketing, customer service, and more.

Oryon’s role in this partnership is to verify customer eligibility and distribute promotional coupons. However, all subscription payments, account management, and technical support are managed directly by OpenAI. Oryon does not have access to customers’ ChatGPT Business accounts and does not provide setup or user onboarding services.

Established in 1998, Oryon has evolved from its web hosting origins to become a comprehensive technology partner, offering solutions in cloud productivity, cybersecurity, and AI. As a Microsoft Solutions Partner, Oryon also supports businesses in adopting Microsoft 365 and other cloud productivity solutions.

This partnership underscores the growing influence of Singapore-based tech providers in bringing advanced AI tools to the SME market in Asia, facilitating improved productivity and innovation.

CBRE has announced the sale of a portfolio comprising four HDB commercial assets, including a corner coffeeshop in Toa Payoh Central and three ground floor retail units in Jurong Gateway, Jurong East. The sale will be conducted through an Expression of Interest exercise, closing on 8 October 2026.

The properties are located in Toa Payoh and Jurong East, two mature estates undergoing significant urban rejuvenation. Toa Payoh is part of Singapore’s “Age Well Neighbourhoods” initiative, with developments like the Toa Payoh Integrated Development set to complete by 2030. This project will include a stadium, aquatic centre, sports hall, polyclinic, and public library, alongside new BTO projects adding 3,600 housing units by 2030.

Jurong East is central to the Jurong Lake District, Singapore’s second Central Business District. Its transformation includes infrastructure upgrades like the Jurong East Integrated Transport Hub (2027) and the Jurong Region Line (2028). A new mixed-use site at Town Hall Link will add significant office, residential, and retail space.

The guide price for the portfolio is approximately S$38m, with individual units priced between S$5.5m and S$16m. Clemence Lee, Executive Director of Capital Markets at CBRE, highlighted the portfolio’s appeal due to its location in high-traffic areas and potential for resilient net yields above 3.7%. Lee stated, “Investors are not just buying into today’s stable income, but into two of Singapore’s clearest growth corridors for the decade ahead.”

The assets can be acquired collectively or individually, offering flexibility for various investors, including owner-occupiers and real estate funds.

Keppel DC REIT has announced an upsized S$625m private placement to fund its acquisition of two hyperscale colocation data centres in Greater Tokyo. This move is set to push Singapore’s 2026 secondary fundraising by SGX-listed companies beyond S$4b, marking the highest annual total since 2021. The placement, initially launched to raise at least S$600m, was increased due to strong investor demand, with the transaction being approximately 3.4 times covered after upsizing.

Secondary fundraising in Singapore has totalled S$3.57b in the first eight months of 2026. The inclusion of Keppel DC REIT’s placement, scheduled for 10 September, will surpass the S$4b mark. This trend highlights the significant role of secondary fundraisings, which have accounted for about 80% of the nearly S$90b raised through equity capital markets since 2016.

Keppel DC REIT’s acquisition involves an 88.62% interest in the data centres, valued at approximately JPY168.4b (S$1.37b). The acquisition price represents a 2.1% discount to the assets’ valuation. The data centres are fully occupied by investment-grade clients, offering growth potential through rent escalations and market rent reversions.

The acquisition will increase Japan’s contribution to Keppel DC REIT’s portfolio rental income from 9% to 23%, whilst maintaining Singapore as the largest market. The transaction is expected to enhance portfolio resilience and diversification, with assets under management rising to approximately S$7.6b across 27 data centres in 10 countries.

AtkinsRéalis and BCA International Pte Ltd (BCAI) have signed a non-binding Memorandum of Understanding (MoU) to explore collaborative opportunities in urban development and infrastructure across the Middle East. This partnership seeks to leverage Singapore’s built environment capabilities alongside AtkinsRéalis’ extensive experience in Saudi Arabia and the UAE.

The MoU, formalised during International Built Environment Week 2026 at Marina Bay Sands, Singapore, establishes a framework for connecting Singapore’s innovative solutions with AtkinsRéalis’ regional expertise. The collaboration will initially focus on sustainable urban development, scenario-based decision support tools, and construction productivity to address emerging market needs.

Matthew Tribe, Senior Vice President Buildings and Places at AtkinsRéalis Middle East, highlighted the potential of the partnership: “The cities shaping the next decade will be those that combine ambition with livability, creating places that are connected, resilient and designed around the people who use them every day.” He emphasised the role of CityZenX, an innovation platform aimed at accelerating the adoption of transformative solutions for urban development.

John Tan, Director (Corporate) at BCAI, stated, “The challenges facing our cities today cannot be addressed by any one organisation or country alone. Through this collaboration with AtkinsRéalis, we have an opportunity to bring together Singapore’s built environment experience and innovative solutions with AtkinsRéalis’ global expertise.”

The collaboration aims to foster knowledge exchange and develop new solutions for smarter, greener, and more liveable cities, ultimately contributing to a more sustainable built environment globally. Future activities will be subject to separate agreements, focusing on targeted market engagement and co-design of specific use cases.

IFM Investors, a global pension capital investor with A$291.6b (US$204.8b) in assets, has inaugurated its Singapore office to tap into growth opportunities in Asia. This strategic move underscores IFM’s commitment to the region, aiming to enhance its private market capabilities, particularly in diversified credit, through local origination and execution.

The establishment of the Singapore office aligns with IFM’s long-term strategy to secure institutional capital across Asia’s target markets. The region is increasingly seen as a vital growth area for institutional capital, including pension funds and sovereign wealth funds, due to its relatively untapped private markets and rising demand for flexible finance solutions.

Hiran Wanigasekera, Executive Director and Co-Head of APAC Diversified Credit, stated, “Opening an office in Singapore reflects IFM’s strong conviction in Asia as a long-term investment destination and our commitment to building an enduring investment presence in the region on behalf of working people and retirees globally.”

IFM’s expansion follows a significant partnership with the Australian Government, involving a A$175m commitment through Export Finance Australia to support Southeast Asian businesses. This investment is part of the Southeast Asia Investment Financing Facility, aimed at fostering economic growth in the region.

As Australia’s pension system continues to grow, IFM is poised to deploy capital overseas, enhancing retirement savings and offering portfolio diversification. With over 880 institutional investors globally, IFM’s Singapore office is set to play a crucial role in its Asia-Pacific strategy.