Industry News

Tata Consultancy Services (TCS) has launched an AI-Powered Research & Innovation Centre in Singapore, aiming to accelerate digital transformation and cement Singapore’s status as a global innovation leader. The centre, located at the TCS Asia Pacific Office in Changi Business Park, was inaugurated with the presence of Alvin Tan, Minister of State for the Ministry of National Development and the Ministry of Trade & Industry, Singapore.

The centre will serve as a collaborative hub, bringing together startups, academia, and enterprises across the Asia Pacific region to co-create scalable AI solutions. This initiative aligns with Singapore’s Smart Nation vision, supporting its ambition to become a digital-first economy by leveraging advanced technologies.

Jermaine Loy, Managing Director of the Economic Development Board, Singapore, remarked, “We welcome TCS’ new AI-powered Research and Innovation Centre to Singapore’s growing and vibrant innovation ecosystem. The centre’s focus on helping local businesses accelerate their digital transformation and training graduates to have in-demand digital skills is aligned with Singapore’s push for AI to be used responsibly to boost productivity and competitiveness.”

The centre is part of TCS’s global innovation ecosystem, TCS Pace™, which includes hubs in cities like Amsterdam, London, and New York. It will explore AI applications across industries to enhance productivity and drive sustainable growth. Girish Ramachandran, President – Growth Markets, TCS, highlighted Singapore’s strategic position as a technology hub, stating, “This new AI centre will connect Singapore with other innovation hubs, enabling cross-border collaboration and knowledge exchange.”

TCS’s commitment to Singapore’s innovation landscape is further evidenced by its past initiatives, such as the Digital Acceleration Centre launched in 2018. The new centre will also focus on addressing talent gaps and supporting local startups, thereby strengthening Singapore’s economy and workforce readiness.
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Maria Ramos, the newly appointed Group Chair of Standard Chartered Bank PLC, embarked on her inaugural visit to Singapore this week, marking one of her first international trips since assuming her role in May. Singapore, a crucial market and the second largest income contributor to the Group, played host to Ramos over a three-day visit from 1 to 3 July.

During her stay, Ramos engaged in a series of meetings and activities with clients and colleagues, aiming to deepen her understanding of key market trends and discuss strategic priorities for the bank in Singapore and the ASEAN region. Her itinerary included a visit to Standard Chartered’s flagship Battery Road Branch, where she interacted with employees and observed the bank’s latest digital capabilities designed to enhance client wealth management experiences.

Ramos’s visit also provided an opportunity to connect with long-serving employees, such as Choong Syn Fah, Mohd Farouk Shahul Peon, and Gina Chng, who have collectively dedicated over a century of service to the bank. Additionally, she was briefed on the bank’s digital transactions by relationship service manager Grace Cheong and branch manager Elaine Mckinna.

Standard Chartered Bank has a longstanding presence in Singapore, with a history dating back to 1859. The bank continues to play a significant role in the region, supporting both individual and corporate financial needs through a comprehensive range of services. As Ramos continues her tenure, her visit underscores the bank’s commitment to strengthening ties and exploring growth opportunities in key markets.
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Maison Krug has introduced its latest Éditions, Krug Grande Cuvée 173ème Édition and Krug Rosé 29ème Édition, alongside the 11th edition of its Single Ingredient programme, focusing on the carrot. This initiative, now in its 11th year, invites chefs from Krug Ambassades across Southeast Asia to explore the culinary potential of a single ingredient, this year being the carrot, to create dishes that complement Krug’s Champagne.

The Single Ingredient programme has previously highlighted elements like potatoes and rice, encouraging chefs to craft dishes that reflect Krug’s meticulous blending of wines. This year, the carrot serves as a muse, inspiring a range of culinary expressions from nostalgia to elegance. Each dish is designed to harmonise with Krug’s latest Éditions, offering new dimensions of flavour and texture.

Krug, founded by Joseph Krug in 1843, is renowned for its annual release of new Éditions, regardless of climate variations. The Krug Grande Cuvée 173ème Édition blends over 150 wines from 13 years, whilst the Krug Rosé 29ème Édition comprises 29 wines from five vintages, showcasing the House’s expertise.

On 9 July, Krug will host its inaugural Southeast Asia Ambassade Regional Summit in Singapore, gathering culinary talents from 11 Krug Ambassades, including those from Singapore, Malaysia, and Thailand. This summit celebrates the synergy between Krug Champagne and gastronomy.

From July to December 2025, guests can enjoy by-the-glass pairings at participating Krug Ambassades in Singapore, such as Zén and JAAN by Kirk Westaway. Each pairing reflects the chef’s unique philosophy and honours the versatility of the carrot. Guests will also receive a complimentary Krug x Carrot cookbook, featuring global chef-curated recipes inspired by the carrot.
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Wonderhealth Pte Ltd has unveiled a nationwide health awareness campaign in Singapore, focusing on preventive healthcare. This initiative, announced on 3 July 2025, aims to educate the public on early detection and healthy lifestyle habits through community workshops, health talks, and digital resources.

The campaign introduces a range of digital educational materials addressing common health risks and preventive measures. Key features include home-based health screenings, allergy testing, and the LucenceINSIGHT Cancer Screening—a non-invasive tool for early cancer detection. Additionally, corporate health screenings are available to enhance workplace wellness programmes.

Edmund Yeo of Wonderhealth stated, “We believe preventive healthcare is an essential part of everyday wellness. Through this campaign, we aim to empower individuals and organisations with the knowledge and tools needed to take charge of their health early.”

This initiative aligns with Wonderhealth’s commitment to community education and accessible healthcare services. By offering evidence-based resources and fostering dialogue, the company seeks to support Singaporeans in making informed health decisions.

Wonderhealth’s mission is to make healthcare accessible, convenient, and affordable, whether at home, in the workplace, or within the community. The campaign underscores the importance of preventive care and early detection as foundational elements of a healthier society. For more information on workshops and screening options, visit Wonderhealth’s website.
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GreenTeams, a climate technology company focused on environmental governance in Indonesia, has successfully closed its Series A funding round, led by Oriza Greenwillow Technology Fund. This funding will enable GreenTeams to expand its real-time emissions and air quality monitoring technologies, supporting Indonesia’s Net Zero 2060 target.

The company plans to use the funds to scale its product innovation, enhance AI-powered monitoring platforms, and expand regionally. GreenTeams CEO, Wilson B Sutarko, expressed gratitude for the trust from partners, stating, “This funding allows us to deepen our national footprint, grow our team, and expand impact across multiple sectors.”

GreenTeams has established itself as a full-stack climate tech provider, with deployments in over 30 Indonesian provinces. Its flagship offerings, Continuous Emission Monitoring Systems (CEMS) and Air Quality Monitoring Systems (AQMS), provide real-time data capture and emissions tracking. In 2024, the company achieved 98% revenue growth, driven by regulatory enforcement and industry demand for ESG-aligned practices.

CK Tan, Managing Partner of Oriza Greenwillow Technology Fund, praised GreenTeams’ execution capability and commitment to sustainability, highlighting its role in building transparency and trust in environmental data.

With the new capital, GreenTeams plans to:
– Scale nationwide deployment of monitoring systems across various sectors.
– Advance AI-powered predictive tools for environmental forecasting.
– Expand data platform integrations for regulatory and industrial markets.
– Build capacity for regional expansion beyond Indonesia.

GreenTeams continues to drive scalable environmental impact through its innovative technologies and certified infrastructure, contributing to Indonesia’s Net Zero goals.
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Thakral Corporation’s investee company, GemLife Communities Group, has successfully debuted on the Australian Securities Exchange (ASX) under the ticker symbol ‘GLF’. On its first day of trading, GemLife’s securities price rose by 4.1% to A$4.33, achieving a market capitalisation of A$1.65b. The initial public offering (IPO) raised A$750m from 180.28 million stapled securities offered at A$4.16 each, making it the largest IPO in Australia this year.

GemLife, a leading operator of over-50s lifestyle resorts in Australia, plans to use the proceeds from the IPO to acquire the Aliria Group portfolio, which will expand its pipeline from approximately 6,500 homes to 9,836 homes. The funds will also be directed towards reducing debt, strengthening the balance sheet, and providing additional working capital.

Thakral, which holds a 16.8% stake in GemLife post-IPO, demonstrated its confidence in the company by subscribing for an additional 600,962 GemLife Stapled Securities at the IPO price. Inderbethal Singh Thakral, CEO and Executive Director of Thakral, expressed satisfaction with the listing, stating, “GemLife’s successful ASX listing represents the realisation of a strategic vision we have supported since inception.”

GemLife’s expansion is set to enhance its national footprint, with communities across Queensland, New South Wales, and Victoria. As the company continues to grow, Thakral aims to strengthen its strategic alignment and support GemLife’s journey in the over-50s lifestyle space.
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A recent study by IBM’s Institute for Business Value highlights a significant gap between AI ambitions and execution among Singaporean businesses. The study, which surveyed 2,000 CEOs globally, including 210 from Singapore and ASEAN, found that whilst AI investment is set to more than double in the next two years, only 14% of Singaporean firms have managed to scale AI initiatives across their entire enterprise.

The report reveals that 80% of Singaporean CEOs prioritise AI projects based on return on investment (ROI), yet only 23% have achieved the expected returns. This indicates a disconnect between investment priorities and realised outcomes. Additionally, 52% of CEOs acknowledge that rapid tech investments have resulted in fragmented technology stacks, complicating AI integration.

Abraham Thomas, Managing Partner at IBM Consulting ASEAN, noted, “Business leaders in ASEAN are under pressure to demonstrate ROI from AI whilst needing to invest in long-term capabilities to stay competitive.” He emphasised the importance of building adaptable data foundations and investing in talent to turn AI ambitions into tangible results.

The study also highlights the need for strategic leadership and specialised talent, with 75% of Singaporean CEOs linking organisational success to having a broad group of leaders with strategic insight. Furthermore, 48% of firms are hiring for AI roles that did not exist a year ago, reflecting the evolving landscape of AI expertise.

In conclusion, whilst Singaporean businesses are investing heavily in AI, the challenge remains to effectively scale these initiatives and realise their full potential. The findings suggest a need for improved data infrastructure and strategic talent development to bridge the gap between AI ambition and execution.
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The Singapore Institute of Purchasing and Materials Management (SIPMM) has released the June 2025 Purchasing Managers’ Index (PMI), revealing a slight increase in manufacturing activity. The PMI, a key indicator of the economic health of the manufacturing sector, rose to 50.3, marking the fourth consecutive month of expansion. A PMI reading above 50 indicates growth, whilst a reading below 50 signals contraction.

This growth is attributed to increased new orders and higher production output, reflecting a positive outlook for the sector. The electronics sector, a significant component of Singapore’s manufacturing industry, also showed improvement with a PMI reading of 50.8. This marks a notable recovery from previous months, driven by a rise in global demand for electronic components.

The SIPMM noted that the improvement in the electronics sector is crucial for sustaining overall manufacturing growth. “The electronics sector’s performance is a vital contributor to the manufacturing industry’s expansion,” the institute stated.

The PMI’s positive trajectory suggests that Singapore’s manufacturing sector is on a path to recovery, bolstered by both domestic and international demand. However, the SIPMM cautioned that external factors, such as global supply chain disruptions and geopolitical tensions, could pose challenges in the coming months.

In summary, the June PMI reflects a cautiously optimistic outlook for Singapore’s manufacturing sector, with continued growth anticipated if current trends persist. The sector’s performance will be closely monitored in the coming months to assess the impact of external economic conditions.
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Tesa, a global leader in adhesive solutions, has inaugurated its cutting-edge Debonding on Demand laboratory in Singapore. This strategic initiative, in partnership with A*STAR, Singapore’s leading public research agency, is set to accelerate the development of advanced adhesive technologies, particularly for the automotive and electronics industries. The lab will focus on creating high-performance, removable adhesives that align with sustainable manufacturing practices.

The collaboration between tesa and A*STAR is designed to bolster Singapore’s status as a hub for innovation in sustainable and circular manufacturing. The lab will not only advance product development but also contribute to the local ecosystem through knowledge transfer and talent development. This aligns with Singapore’s Green Plan 2030, which emphasises sustainable growth.

The launch event was attended by key figures, including tesa CEO Norman Goldberg and A*STAR CEO Beh Kian Teik. A Memorandum of Understanding was signed to further the advancement of debonding-on-demand technology. Goldberg stated, “Our Debonding on Demand technologies will be a future game-changer, enabling strong, durable bonds that can be easily removed on demand.”

The lab will initially test up to 20 new concepts, with successful ones being scaled up to meet customer needs. This initiative is expected to create an innovation bridge between European engineering and Asian technological leadership, enhancing tesa’s global services.

As operations commence, the lab is poised to make significant contributions to the circular economy, offering new perspectives on product design and lifecycle management.
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Private home prices in Singapore experienced a slight increase of 0.5% quarter-on-quarter in the second quarter of 2025, as reported by the Urban Redevelopment Authority (URA). This follows a 0.8% rise in the first quarter of the year. The growth was primarily driven by price increases in the Core Central Region (CCR) and Outside Central Region (OCR), which saw rises of 2.3% and 0.9% respectively. However, the Rest of Central Region (RCR) experienced a 1.1% decline.

The Housing Development Board (HDB) resale price index also saw a 0.9% increase in the same period, contributing to a 2.5% appreciation in the first half of 2025. Despite a quieter resale market, with an 11.7% year-on-year drop in sales volumes to 4,340 units, the primary home sales market remains robust. Sales for the first five months of 2025 surged by 157% year-on-year to 4,362 units.

Looking ahead, the market is expected to be bolstered by a strong launch pipeline, with an additional 5,000 units anticipated for the remainder of 2025. Notable upcoming launches include the 343-unit Lyndenwoods and UPPERHOUSE at Orchard Boulevard. Additionally, the government has released land sites for 4,725 residential units under its confirmed list in the second half of 2025.

The sector remains neutral amidst a slower macroeconomic outlook and tariff uncertainties, which could temper buying sentiment. However, UOL Group is highlighted as a preferred sector pick due to its strong balance sheet and potential for value creation through acquisitions and asset enhancements.
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