Industry News

SATS Ltd., a prominent player in aviation cargo and ground handling services, has announced an increase in the retirement age to 64 and the re-employment age to 69 for its Singapore-based employees. This policy, effective immediately, is set to benefit more than 700 employees who will reach these ages by 2025, ahead of the Singapore Government’s legislative changes.

The initiative is part of SATS’ commitment to fostering an inclusive and future-ready organisation. Chief Human Capital Officer Tan Chee Wei highlighted the importance of recognising and retaining the contributions of experienced employees. “This progressive move, undertaken in collaboration with our union partners, reflects our dedication to building an inclusive, future-ready organisation and supporting our mature employees who wish to continue contributing their skills and experience,” she stated.

SATS has also introduced job redesign initiatives to enhance long-term employability, aligning roles with evolving business needs and promoting employee engagement. The company is committed to continuous learning and development, ensuring all employees, regardless of age, are equipped to meet changing job requirements. The SATS Employee Development Programme offers training on growth mindset and workplace diversity, whilst roles requiring digital skills receive targeted training.

Govinden Sathasivam, General Secretary of SATS Workers’ Union, expressed support for the policy, noting the assurance of job security it provides to senior workers. Cham Hui Fong, Deputy Secretary-General of NTUC, emphasised the importance of such initiatives in maintaining a dynamic workforce as Singapore strengthens its position as a regional aviation hub.
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The Monetary Authority of Singapore (MAS) has announced proposals to improve the clarity of Product Highlights Sheets (PHS) and streamline the framework for complex investment products. These changes are designed to empower investors to make informed decisions whilst ensuring those needing extra guidance receive appropriate support.

MAS’s proposed enhancements to PHS include revised templates that highlight key product features on the first page and employ a “question and answer” format to engage investors. Complex products will be marked with a red label, signalling the need for professional advice. Additionally, Investment-Linked Policies will now require a PHS.

The complex products framework, established in 2012, categorises products as “complex” or “non-complex” and mandates distribution safeguards for complex products. MAS is considering removing the requirement for mandatory financial advice, except for those needing additional protection, due to improved investor access to product knowledge. Instead, a Product Knowledge Assessment (PKA) will be introduced as a self-assessment tool to evaluate an investor’s understanding of complex products.

MAS is also proposing targeted safeguards for “Selected Clients” who require added protection. These clients will undergo a mandatory financial advisory process, ensuring they have access to safeguards such as having a trusted individual present during advisory sessions and a call-back process to confirm investment decisions.

MAS is seeking feedback on these proposals, with comments due by 1 September 2025. This initiative reflects MAS’s commitment to adapting its frameworks to the evolving needs of Singapore’s retail investors.
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Frasers Property and Sekisui House have announced the launch of The Robertson Opus, a 999-year mixed-use development in Singapore’s prestigious District 9. The preview is set for 5 July 2025, with sales bookings beginning on 19 July 2025. This development is the only 999-year residential launch in the prime districts of 9, 10, and 11 this year.

The Robertson Opus will feature 348 luxury residential units spread across five mid-rise buildings, complemented by upscale dining and retail options on Level 1 and Basement 1. The project is expected to receive its Temporary Occupation Permit in the first half of 2029. Homebuyers can choose from the Premier, Luxury, and Legacy Collections, with prices starting at $1.01 million (S$1.37 million) for a suite.

Soon Su Lin, CEO of Frasers Property Singapore, stated, “We are proud to unveil The Robertson Opus—the only 999-year residential launch in the prime districts of 9, 10, and 11 this year. Set within the upscale lifestyle enclave of Robertson Quay along the Singapore River, this masterpiece is poised to redefine luxury riverside living.”

The development promises exceptional connectivity, with nearby MRT stations and access to the Central Expressway. Residents will enjoy proximity to cultural and recreational districts, including Clarke Quay and Marina Bay. The Robertson Opus also emphasises holistic well-being, featuring amenities such as a sky forest, private gardens, and a smart home system.

Takehisa Yanagi, Managing Officer of Sekisui House, remarked, “The development’s state-of-the-art facilities are designed to enhance the living experience, promoting sustainability and well-being.”

The Robertson Opus sales gallery opens on 5 July 2025, offering potential buyers a glimpse into this luxurious riverside lifestyle.
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The High Court has approved the collective sale of Thomson View Condominium for S$810 million, with the buyer being a consortium of UOL Group, Singapore Land, and CapitaLand Development. This approval marks a significant milestone in the collective sale journey, which has been fraught with challenges, according to Swee Shou Fern, Head of Investment Advisory at ETC.

The condominium, which consists of 255 units including a shop unit, 54 townhouses, and 200 flats, is the largest residential collective sale since Chuan Park’s S$860 million sale in May 2023. It is also the only residential collective sale transaction in 2024. The property boasts strong locational advantages, such as proximity to the Upper Thomson MRT station, top-ranked schools, and various amenities.

Henry Toi, Chairman of Thomson View Condominium’s collective sale committee, expressed gratitude for the successful sale, acknowledging the efforts of ETC and their solicitors, Wee Swee Teow LLP. He also thanked the owners for their patience and support throughout the process.

The condominium’s strategic location offers easy access to Orchard Road and the Central Business District, along with nearby educational institutions like Ai Tong School and Raffles Institution. The sale highlights the continued demand for well-located residential properties in Singapore.
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HSBC Life Singapore has announced the appointment of Luzanne Chong as its new Chief Commercial Officer, effective 21 July 2025. Chong will report directly to Harpreet Bindra, CEO of HSBC Life Singapore, and will spearhead the commercialisation of strategic initiatives in a role that unifies strategic planning, customer experience, and digital leadership.

Chong, a seasoned professional with over 20 years of experience in banking and insurance, previously served as Head of Customer Experience at Prudential Singapore. Her extensive background includes senior roles at FWD Singapore and DBS Bank, focusing on customer experience, segment strategy, and digital transformation.

In her new position, Chong will manage end-to-end customer lifecycle management, data analytics, digital strategy, and marketing across HSBC Life’s life and health portfolios. This appointment underscores HSBC Life Singapore’s commitment to customer-led, insight-driven, and digitally enabled growth.

Harpreet Bindra expressed enthusiasm about Chong’s appointment, stating, “I’m delighted to welcome Luzanne to my leadership team. This newly created leadership role marks a pivotal step as we continue advancing our customer-led transformation agenda. Luzanne’s experience and proven track record will be key in connecting strategy, insights and execution, enhancing the delivery of our integrated health and wealth solutions to meet the evolving needs of our customers in Singapore.”

This strategic move aligns with HSBC Life’s broader ambition to become Singapore’s preferred insurer and supports HSBC’s goal to be the leading wealth manager in the region.
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CapitaLand Development (CLD) and UOL Group have announced the High Court of Singapore’s approval for their collective acquisition of Thomson View Condominium, a significant en bloc transaction valued at $590 million (S$810 million). This joint venture, split equally between CLD and UOL, received backing from over 80% of the condominium’s residents by strata area and share value.

The strategic acquisition, located along Upper Thomson Road, offers panoramic views and excellent connectivity, being adjacent to Upper Thomson MRT Station. Ronald Tay, CEO of CLD (Singapore), and Liam Wee Sin, Group Chief Executive of UOL, expressed their enthusiasm in a joint statement: “We are pleased to expand our joint venture portfolio with this strategic acquisition. The progress of this sale puts us on track to leverage our combined expertise to rejuvenate and contribute to the vibrancy of this prime estate.”

The 5-hectare site is poised to benefit from its proximity to lifestyle amenities like Thomson Plaza, reputable schools such as Ai Tong School, and a network of parks and nature reserves. This acquisition is part of CLD’s and UOL’s broader strategy to enhance their portfolios with prime real estate developments.

Further details on the development plans for Thomson View Condominium will be released in due course, promising to transform the area into a vibrant community hub.
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The Singapore Business Federation (SBF) and CapitaLand Investment (CLI) joined forces to host the Singapore Armed Forces (SAF) Day 2025 Combined Rededication Ceremony at Capital Tower. The event, attended by nearly 220 representatives from 80 organisations, was graced by Defence Minister Chan Chun Sing, marking his inaugural SAF CRC in this role. The ceremony celebrated the SAF’s 60th anniversary and highlighted the crucial link between a robust defence and a thriving business environment.

The event featured a fireside chat with Minister Chan and CLI’s Group Chief Strategy Officer, Ervin Yeo, moderated by SBF CEO Kok Ping Soon. Discussions focused on the evolving security landscape and its impact on economic security, the significance of National Service, and how businesses can continue to support National Servicemen (NSmen). Kok Ping Soon emphasised, “A strong, credible defence is the bedrock of Singapore’s economic security and prosperity.”

Ervin Yeo added, “Singapore’s safety and stability are fundamental to our nation’s continued success in attracting global businesses.” The event underscored the business community’s role in supporting National Service and recognising NSmen’s contributions through workplace practices.

This collaboration between SBF and CLI not only reaffirmed the business community’s commitment to national defence but also showcased defence technology and capabilities. As Singapore navigates increasing geopolitical volatility, the partnership between a resilient SAF and a supportive business community remains vital for the nation’s stability and prosperity.
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JCB International Co Ltd, the international arm of Japan’s sole international payment brand, has teamed up with Mandai Wildlife Group to offer exclusive discounts to JCB cardmembers. Starting 1 July 2025, cardmembers will benefit from enhanced perks across all five parks at Singapore’s Mandai Wildlife Reserve, including Singapore Zoo, Night Safari, River Wonders, Bird Paradise, and the newly launched Rainforest Wild Asia.

The promotion, which aims to boost visitorship, is available to JCB cardmembers worldwide, with a particular focus on Japan, Taiwan, India, and other Asian regions. Cardmembers will receive a 30% discount on admission tickets purchased via the Mandai website and a 10% discount on retail and dining purchases within the parks.

Hiroko Michishita, Managing Director of JCB International Asia Pacific, expressed enthusiasm about the collaboration, stating, “We see the Mandai Wildlife Reserve as a special place where people can have meaningful encounters with wildlife and nature. By facilitating a superior seamless payment experience and benefits at the destination, we hope our cardmembers can better explore the precinct’s rich and diverse offerings.”

Additionally, JCB is now fully integrated into Mandai’s payment ecosystem, covering everything from shuttle services to dining and retail, including the newly opened Mandai Rainforest Resort by Banyan Tree. This partnership underscores JCB’s commitment to providing high-quality services and products to its global customer base.

Ultima Markets has unveiled the first sustainability academy within the Contract for Difference (CFD) industry, marking a significant milestone in financial services. Developed by the Ultima Impact Foundation, this initiative aims to make expert knowledge on sustainability accessible to everyone. The academy offers a series of short video lessons led by professors from renowned universities and top scientists in the climate sector, simplifying complex topics into actionable insights.

The academy’s content, typically reserved for graduate-level courses, is now freely available on Ultima Markets’ website. Jean Philippe, Director of the Ultima Impact Foundation, emphasised the goal of making sustainability topics more approachable: “Our goal with the academy is to demystify these topics and make them more approachable and relatable to everyone.”

This educational endeavour is part of Ultima Markets’ broader sustainability agenda. As the first CFD broker to join the United Nations Global Compact, the company aligns its operations with the UN’s 17 Sustainable Development Goals, using education as a tool for global progress. By opening the academy to all, Ultima Markets hopes to foster greater awareness and inspire global engagement in sustainability.

Ultima Markets, a licensed multi-asset broker, serves traders in over 170 countries, offering access to more than 250 CFD instruments. The company has received accolades for its advanced trading platform and educational initiatives, further solidifying its commitment to sustainability and ethical finance.
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DBS Bank has announced a strategic partnership with major retail brands Cold Storage, CS Fresh, Giant, Guardian, and 7-Eleven, making it the sole bank in Singapore to provide spending privileges at over 680 outlets. This collaboration aims to deliver significant savings for DBS/POSB cardholders amidst rising cost-of-living concerns, with exclusive deals on everyday essentials.

With Singaporeans increasingly focused on value due to economic pressures, this partnership addresses the demand for savings on daily purchases. A NielsenIQ survey highlights that one in four Singaporeans are keen to save more in 2025, a sentiment echoed across the Asia-Pacific region. The partnership offers DBS/POSB cardholders exclusive deals, including up to 18% cash rebates for DBS yuu cardholders and up to 9% for PAssion POSB debit cardholders.

Chan Sow Han, Head of Payments & Platforms at DBS Singapore, stated, “This partnership represents a significant milestone in our commitment to helping Singaporeans get the most value from their everyday spending.” The collaboration is designed to enhance customer value and address cost-of-living concerns through meaningful partnerships.

Retail partners also expressed their commitment to customer value. Lim Boon Cheong of Cold Storage and Giant emphasised the focus on providing rewards and savings on essential items. Naresh Kalani of Guardian highlighted the partnership’s role in making wellness more accessible, whilst Anushree Khosla of 7-Eleven noted the enhanced value for customers’ daily needs.

From July to September 2025, DBS/POSB cardholders can enjoy exclusive promotions, such as discounts at Cold Storage and Giant, and special offers at Guardian and 7-Eleven. The partnership promises ongoing promotional activities to maximise customer value.
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