Industry News

SC Capital Partners Group, a Singapore-based real estate investment management firm, has started construction on a state-of-the-art data centre in Osaka, Japan. The project, with an initial investment of approximately $600m, secured building permits ahead of its groundbreaking ceremony on 3 December 2025. This development highlights the firm’s commitment to Japan’s burgeoning digital infrastructure sector.

Located on Nanko Island, the facility is strategically positioned with 100MW of allocated power, offering direct access to robust power infrastructure and major network routes. This makes it an ideal location for hyperscale and enterprise users. SC Capital Partners has already begun pre-leasing discussions, attracting interest from global cloud service providers and technology companies seeking scalable and energy-efficient solutions.

The project is backed by a consortium, including a subsidiary of the Abu Dhabi Investment Authority, a major Japanese real estate developer, and SC Capital Partners’ RECAP series of real estate funds. All necessary capital for the development has been secured. SC Zeus Data Centres, a subsidiary of SC Capital Partners, will manage the development and operations of the facility, which is expected to commence operations in early 2028.

Suchad Chiaranussati, Chairman and Founder of SC Capital Partners, stated, “We are among the few who have successfully broken ground in a prime location with secured power and a best-in-class design purpose-built for the AI era.” The firm is also exploring further data centre developments in Japan, South Korea, and other key Asia Pacific markets.

Retail sales in Singapore saw a notable increase of 4.5% in October 2025 compared to the same month last year, according to the Singapore Department of Statistics. This growth extends the 2.7% rise observed in September 2025. Excluding motor vehicles, retail sales rose by 3.7% year-on-year. The total retail sales value reached $4.4b, with online sales accounting for 14.5% of this figure.

The Watches & Jewellery industry led the growth with a 25% year-on-year increase, largely due to higher jewellery sales. Recreational Goods and Motor Vehicles also experienced significant growth, with sales rising by 20.4% and 9.7% respectively. However, Petrol Service Stations and retailers of Wearing Apparel & Footwear faced declines, with sales dropping by 17.4% and 3.7% respectively.

In the food and beverage (F&B) sector, sales increased by 2.4% year-on-year, reversing a 1.6% decline in September. The total F&B sales value was estimated at $1b, with online sales comprising 25.1%. Food Caterers saw a 12.8% increase in sales, whilst Fast Food Outlets and Cafes, Food Courts & Other Eating Places recorded growths of 4.4% and 1.3% respectively. Conversely, Restaurants experienced a slight decline of 0.6% in sales.

Kyndryl and Microsoft have unveiled the findings of their third annual Global Sustainability Barometer Study, highlighting that 87% of Singapore organisations have maintained or advanced their sustainability initiatives in 2025. This marks a significant rise from 60% in 2024, positioning Singapore ahead of the global average of 66%. Despite this progress, only 35% of these organisations are leveraging artificial intelligence (AI) centrally to drive environmental decisions.

The study, conducted by Ecosystm, underscores the increasing alignment between technology and sustainability teams in Singapore, with 58% of IT teams now spearheading sustainability goals, up from 40% last year. Guat Ling Ang, Managing Director of Kyndryl Singapore, noted, “Rising disclosure requirements and the need for real-time reporting are driving demand for AI, automation, and trusted data platforms.”

Key findings reveal that 35% of Singapore organisations are “integration-focused,” more than double the global average of 16%. Additionally, 63% of local firms now use predictive AI to forecast resource use and emissions, a significant increase from 35% last year. However, challenges persist, with 52% citing unclear return-on-investment (ROI) as a barrier to progress.

The study also highlights structural data obstacles, with 50% of organisations struggling to collect data across internal systems. Despite these challenges, there is a growing interest in agentic AI, with 23% of organisations piloting or considering its use.

As Singapore continues to enhance its sustainability landscape, the integration of AI remains a critical area for development, promising to transform sustainability from a compliance requirement to a competitive advantage.

Singapore’s small and medium businesses (SMBs) are demonstrating resilience and agility, leveraging technology and human networks to compete with larger enterprises, according to LinkedIn’s latest Work Change Report. The report highlights that whilst SMBs are excelling in brand building and network growth, they risk falling behind in artificial intelligence (AI) adoption. Only 26% of professionals use AI for advanced tasks, and fewer than half apply it daily, indicating a significant opportunity for growth in AI literacy.

The report reveals that SMB employees are expanding their networks by 11% year-over-year, compared to 9% for larger firms. This strategic networking is seen as a key driver of growth, helping generate leads and inform hiring decisions. “Small businesses in Singapore are in growth mode and AI can be their ultimate force multiplier in 2026,” said Elsie Ng, Director, LinkedIn Talent Solutions, Singapore and Malaysia.

Despite the potential of AI to level the playing field, many SMB employees remain unsure which AI skills to prioritise. The demand for hands-on learning is evident, with employees seeking real-life projects and virtual training. Meanwhile, brand authenticity remains a priority, with 76.6% of SMBs emphasising human voices in content creation, compared to 60% for larger companies.

Indosuez Wealth Management, part of the Crédit Agricole Group, has announced a series of strategic hires in Asia, aiming to enhance its bespoke wealth solutions and deepen client relationships. The appointments, which include roles in investment management, relationship management, and insurance, are part of the bank’s ambition to become Asia’s leading boutique private bank.

The new hires include Vicki Koh as Senior Insurance Specialist in Singapore, who brings nearly 20 years of experience from international insurance brokerages and major banks. In relationship management, Diana Chiew joins the External Asset Manager desk in Singapore, whilst Joe Fang and Tanny Ho have been appointed as Senior Relationship Managers. These professionals bring decades of experience from institutions like Credit Suisse, DBS Bank, and Bank of East Asia.

In investment management, Lucas Yang, Leona Tan, and Terrence Yip have joined the Singapore team, with Andrew Chan appointed as Senior Fund Specialist in Hong Kong. These appointments aim to provide tailored investment solutions across private markets and discretionary portfolio management.

Laurent Proutière, CEO Asia, stated, “Our ambition is to be the boutique private bank of reference in this region. Our accelerated recruitment momentum has resulted in a stronger and more dynamic team.”

As Indosuez continues its expansion in Asia, these strategic hires reinforce its commitment to delivering client-centric solutions and solidifying its role as a trusted partner for high-net-worth individuals and professional intermediaries.

DHL Supply Chain has launched Singapore’s first autonomous vehicle (AV) specifically designed for supply chain operations at its Asia Pacific Advanced Regional Centre. Developed in collaboration with Zelostech, the fully electric AV automates the movement of goods between storage zones, marking a significant step in logistics automation and supporting Singapore’s smart industry transformation.

The AV integrates with DHL’s warehouse management systems, featuring advanced navigation, real-time monitoring, and built-in safety protocols. This initiative is part of DHL’s autonomous logistics roadmap, with plans to expand deployment across selected public roads and additional customer operations, pending regulatory approval.

Eunis Hew, Managing Director of DHL Supply Chain Singapore, stated, “By embedding autonomous technology into our operations, we’re not only enhancing efficiency and safety but also paving the way for the next chapter of supply chain automation in Singapore and beyond.”

Zelostech, a winner of the DHL Fast Forward Challenge, collaborated with DHL and Infineon Technologies to bring this innovation to life. Sean Zhang, Co-Founder and Chief Operating Officer of Zelostech, highlighted the platform’s potential to scale automation intelligently, making operations more efficient and future-ready.

The electric AV is expected to reduce carbon emissions by over 80% annually compared to diesel lorries, eliminating tailpipe emissions and saving the equivalent of 120 trees a year. This aligns with DHL Group’s Strategy 2030, focusing on sustainable growth through digitalisation and aiming for net-zero emissions logistics by 2050.

Realion (OrangeTee & ETC) Group has provided insights into Singapore’s Government Land Sales (GLS) programme for the first half of 2026, emphasising the strategic release of sites in key growth areas such as Holland Plain, Belayer Drive, and Bayshore. Christine Sun, Chief Researcher and Strategist of Realion, noted that the release of private land alongside new Build-To-Order (BTO) flats ensures a balance between private and public housing, offering HDB upgraders nearby private housing options.

The Holland Plain site, part of the Urban Redevelopment Authority’s masterplan, is expected to attract luxury home buyers due to its low-density vision and prime location. The River Valley Green site, near Great World MRT station and reputable schools, is anticipated to draw interest due to its strategic location and proximity to amenities.

Peck Hay Road, situated in the prestigious Cairnhill area, is another prime site expected to appeal to luxury home buyers. The Greater Southern Waterfront’s Belayer Drive site is likely to see healthy participation, with its proximity to the CBD and potential sea views.

Canberra Drive and Sembawang Drive Executive Condominium (EC) sites are expected to meet strong demand, particularly from HDB upgraders seeking affordable options. Meanwhile, the New Upper Changi Road site, capable of developing over 1,000 units, is anticipated to satisfy pent-up demand for private homes in Bedok.

The Bayshore Drive site, part of a new transformation area, is expected to attract strong bidding interest due to its integrated development plans and future connectivity to the Bedok South MRT station. Lastly, the subdivision of the Jurong Lake District site into smaller plots is seen as a positive move to attract a broader range of developers.

Embed Financial Group Cayman Holdings, a Singapore-based financial infrastructure company, has announced a definitive agreement to merge with WinVest Acquisition Corp, a special purpose acquisition company. This merger, valued at approximately US$425m, will see the formation of a new holding company, WinVest Holdings Corp, which will be renamed Embed Financial Global Holdings.

The merger aims to enhance Embed Financial Group’s mission to provide financial services infrastructure, known as the “Finternet”, across emerging markets in Africa and Asia. The company, founded in 2024, focuses on delivering embedded financial services such as insurance, remittances, and digital wallets to underserved consumers and small and medium enterprises (SMEs).

Dennis Ng, Founder and CEO of Embed Financial Group, expressed enthusiasm about the merger, stating, “A Nasdaq listing will accelerate our mission to build the Finternet for underserved consumers and SMEs across Africa and Asia.” Manish Jhunjhunwala, CEO of WinVest, added, “EFGH’s work to broaden access to the Finternet is inspiring and aligns with our mission.”

The transaction involves several steps, including the merging of WinVest’s subsidiaries with Embed Financial Group and WinVest itself, making them wholly-owned subsidiaries of the new holding company. Shareholders of Embed Financial Group will receive 42.5 million shares of the new company, whilst WinVest equity holders will receive equivalent securities.

The merger is subject to approval from WinVest’s shareholders and regulatory conditions. Upon completion, Dennis Ng will continue as Executive Chairman and CEO of the combined entity.

Singapore’s economy is set to grow by 1.8% in 2026, according to the latest outlook from DBS Group Research. The report highlights the city-state’s ability to navigate global challenges, including tariffs and technological cycles, whilst maintaining economic stability. Despite a slowdown from the estimated 4.0% growth in 2025, Singapore’s modern services and construction sectors are expected to provide a buffer against trade-related moderation.

Inflation is projected to rise slightly, with core inflation at 1.0% and headline inflation at 1.2%, yet remain manageable. The Monetary Authority of Singapore is anticipated to maintain its current monetary policy, with the Singapore Dollar expected to trade between 1.25 and 1.30 against the US Dollar.

DBS notes that Singapore’s modern services sector, encompassing finance, insurance, and ICT, will play a crucial role in supporting economic growth. The finance sector is poised to benefit from increased trading activity, whilst the ICT sector is expected to continue its positive momentum, driven by advancements in digital technology and AI adoption.

The report underscores Singapore’s position as a trusted financial centre and business hub, with ongoing political stability and policy continuity under the leadership of the fourth-generation team. As Singapore faces global economic shifts, its resilience and strategic focus on modern services and digitalisation are expected to sustain its economic vibrancy in the coming years.

EPG, a Singapore-based provider of modular data centre solutions, has achieved a significant milestone by securing BOMBA certification from Malaysia’s Fire and Rescue Department. This approval positions EPG as one of the first modular data centre manufacturers to meet Malaysia’s stringent fire safety requirements, facilitating seamless deployment across Southeast Asia.

The BOMBA certification, a mandatory compliance step for data centre equipment in Malaysia, involves rigorous testing and audits. EPG’s modular systems successfully passed evaluations, demonstrating strong fire safety performance and structural integrity, aligning with both Malaysian and international standards. An EPG spokesperson noted, “BOMBA certification serves as a gateway into Malaysia and a trusted signal for customers across ASEAN.”

This certification comes as EPG expands its Johor Bahru manufacturing hub, which is set to include a new 80 million facility by Q3 2026. The facility will offer 40,000 m² of workshop space, employ over 800 specialists, and produce more than 2,000 modular units annually, supporting up to 550 MW of project capacity.

With BOMBA approval, EPG can accelerate the delivery of compliant systems to markets such as Thailand, Vietnam, and Indonesia, where demand for modular capacity is rising due to AI and cloud expansion. This achievement is part of EPG’s broader global compliance strategy, as the company seeks to expand certification initiatives to other regulated markets worldwide.