Industry News

International travel is experiencing a significant surge this Labour Day holiday, with outbound flight bookings from Singapore and China rising by 15% year-on-year, according to data from Trip.com Group. The extended five-day holiday in China, from 1 to 5 May, has encouraged more Chinese travellers to explore international destinations, often visiting multiple cities in one trip.

Edmund Ong, Senior Regional Director at Trip.com, noted, “Singaporeans are making use of the long weekend for quick international escapes, whilst Chinese travellers are not just venturing abroad, but often exploring two or more cities within a single overseas trip.” Popular destinations for Chinese travellers include Seoul, Bangkok, Singapore, Kuala Lumpur, and Tokyo.

In Singapore, the three-day Labour Day break has prompted many to travel abroad, with a notable 16% increase in multi-city bookings. Destinations such as Kuala Lumpur, Bangkok, and Seoul remain popular, whilst cities like Shanghai, Guangzhou, Sydney, and Tokyo have seen over 30% growth in bookings.

Chinese travellers are also showing a strong preference for international travel, with a 31% increase in multi-destination trips. Top international destinations include Seoul, Bangkok, and Singapore, whilst Shanghai, Beijing, and Chengdu are favoured for domestic travel.

For inbound travel to Singapore, China leads as the top source market, followed by Malaysia, Thailand, Indonesia, and the Philippines. This trend highlights the growing appeal of Singapore as a travel destination during the Labour Day holiday.

DKSH, a prominent market expansion services provider, has successfully obtained ISO 14001 and ISO 45001 certifications for its operations in Singapore and Malaysia. These certifications, awarded following a comprehensive multi-site audit, highlight DKSH’s commitment to environmental responsibility and workplace safety. The achievement aligns with the company’s global strategy to secure ISO certifications across its key markets.

The ISO 14001 certification focuses on minimising environmental impact, whilst ISO 45001 outlines the requirements for occupational health and safety management systems. DKSH has implemented these standards through routine risk assessments, structured incident reporting, and continuous safety performance monitoring. Additionally, the company has established emergency response procedures and provides ongoing safety training for employees and business partners.

By the end of 2025, DKSH had achieved global ISO certifications across nearly 40 facilities in seven markets, including Cambodia, Hong Kong, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. The recent certifications in Singapore and Malaysia further extend DKSH’s commitment to sustainability and safety within its supply chain network. Delia Sun, Head of Supply Chain Management and Member of the Executive Committee, stated, “Achieving ISO 45001 and ISO 14001 certifications in Singapore and Malaysia reflects our strong commitment to building a safe workplace whilst operating in an environmentally responsible manner.”

DKSH plans to continue expanding its certification coverage to additional markets, reinforcing its dedication to integrating sustainability and safety into all aspects of its operations.

MetaComp Group has announced the successful completion of a proof-of-concept for Tether Gold (XAUT), marking a significant step in its digital financial solutions. The initiative, aimed at institutional clients, explores three key use cases: cross-border payments, long-term value preservation, and gold-collateralised working capital. This development allows XAUT to function as a commodity-backed stablecoin, a cross-border payment tool, and a source of working capital liquidity.

The commercial launch includes 24/7 over-the-counter (OTC) trading through MetaComp Pte. Ltd. and lending against XAUT collateral via MetaComp Cayman Limited. This move comes as gold prices reach historic highs, driven by macroeconomic uncertainties and increased demand for safe-haven assets.

MetaComp’s platform, licensed by the Monetary Authority of Singapore (MAS), supports over 1,000 institutional clients globally. It offers T+0 settlement and access to USD, USDT, or USDC against pledged XAUT collateral. The proof-of-concept demonstrated the efficiency of XAUT in cross-border transfers, achieving faster settlement and cost-effective operations compared to traditional banking methods.

The tokenised commodity market has seen substantial growth, with XAUT and PAXG accounting for a significant portion. MetaComp’s initiative positions it at the forefront of integrating digital assets with traditional financial systems, offering a compliant infrastructure for international payments. The product is now available to accredited and institutional clients, expanding MetaComp’s digital asset ecosystem.

Thales has unveiled its 2026 Bad Bot Report, highlighting a significant shift in Singapore’s digital landscape, where bots now constitute 58% of all internet traffic. The report underscores the growing challenge for organisations as 52% of this bot traffic is classified as malicious, posing a threat to digital security.

The report reveals that financial services are particularly vulnerable, accounting for 80% of bot attacks in Singapore. As AI continues to blur the lines between legitimate and malicious activity, the focus is shifting from identifying bots to understanding their intent. Tim Chang, Global Vice President and General Manager of Application Security at Thales, stated, “AI is transforming automation from something organisations try to block into something they must also manage.”

The findings indicate a structural change in internet traffic, with bots increasingly outnumbering human activity. In 2025, bots made up 53% of global web traffic, a figure that rises to 58% in Singapore. This trend is not limited to specific events but represents a persistent presence across digital environments.

APIs and identity systems have become primary targets for bot attacks, with 27% of such attacks focusing on APIs. These attacks often exploit business logic and manipulate workflows, particularly affecting high-value sectors like financial services and IT.

Andy Zollo, APJ Senior Vice President at Thales, emphasised the need for a governance-based model to manage automation effectively. As AI-driven automation reshapes the digital landscape, organisations must adapt their security strategies to maintain trust and performance.

FairPrice Group (FPG) is set to provide NTUC and Link members with $5m worth of savings on essential items in celebration of May Day 2026. From 30 April to 17 May, members can enjoy 50% discounts on key daily essentials at FairPrice supermarkets and selected Kopitiam outlets. Additionally, NTUC members will have access to exclusive discounts through digital vouchers on the FPG app.

The initiative aims to support Singaporeans amidst rising costs due to global supply chain disruptions. FPG’s Group CEO, Vipul Chawla, emphasised the company’s commitment to keeping essentials affordable, stating, “These discounts on key essentials are our way of assuring Singaporeans that we stand with them.”

Ng Chee Meng, Secretary-General of NTUC, highlighted the importance of easing cost pressures for workers, saying, “The discounts on essentials from FairPrice Group demonstrate our shared commitment in doing our part to ease cost pressures in times of need.”

The May Day promotions include a 50% discount on a different essential item each week, with the first deal featuring Double FP Thai Hom Mali Rice. NTUC members using the FPG app will also receive discounts on a wider range of products, starting with FairPrice Canola Oil.

Moreover, FairPrice Foundation and Kopitiam are reintroducing the popular 50 cents hot kopi and teh deals at 70 outlets from 1 to 31 May. This initiative is part of FPG’s broader efforts to help Singaporeans manage inflation, including price freezes and special deals on various products throughout the year.

Changi Airport Group (CAG) and Shenzhen S.F. Taisen Holding (SF) have signed a Memorandum of Understanding (MoU) to develop Changi Airport as SF’s first overseas hub. This five-year strategic partnership aims to enhance Changi’s express cargo capacity and network, marking a significant step in SF’s global expansion plans.

The collaboration will leverage Singapore’s strategic location, positioning Changi Airport as a key air logistics hub for high-value cargo flows. SF Group, China’s largest integrated logistics service provider, will use Singapore as a base to expand its reach across Southeast Asia, South Asia, and Oceania. This move is expected to strengthen connectivity with major markets in these regions.

CAG’s Chief Executive Officer, Yam Kum Weng, expressed enthusiasm about the partnership, stating, “We are delighted that SF Group has selected Changi Airport as its first overseas hub, marking an exciting milestone for both organisations.” SF Group’s Chairman, Dick Wong, highlighted Singapore’s role in their global strategy, noting the aim to provide competitive cross-border logistics solutions amid a complex global trade environment.

SF Airlines, a subsidiary of SF Group, already operates freighter services to Singapore, further integrating into Changi’s robust express ecosystem. This ecosystem includes major players like DHL Express, FedEx Express, and UPS, ensuring swift and reliable movement of goods across Asia-Pacific and globally.

The partnership underscores Changi Airport’s position as a trusted air logistics hub, poised to support the evolving needs of international supply chains. As the collaboration progresses, it is expected to enhance Changi’s cargo network, facilitating faster and more secure handling of shipments.

In a significant shift within the tech industry, new research from International Workplace Group (IWG) indicates that hybrid working has become the leading strategy for attracting top tech talent, surpassing competitive pay. The study reveals that 78% of business leaders believe organisations offering hybrid work have a distinct advantage in recruitment, with 37% of firms prioritising this approach over competitive salaries, which stand at 35%.

The research highlights a fiercely competitive market for tech talent, with 67% of leaders acknowledging the increased difficulty in attracting skilled candidates. Furthermore, 68% of leaders recognise that competitive salaries alone are insufficient for retaining top talent, emphasising the importance of flexibility.

Advanced technology skills, such as AI, data analytics, and coding, are increasingly valued, with 83% of leaders considering them crucial for leadership promotions. Notably, 22% of leaders place higher importance on these skills than on traditional university degrees. This trend is reshaping hiring practices, with 23% of organisations promoting tech professionals under 30 into leadership roles earlier than usual, a figure that rises to 45% among Gen Z-led businesses.

In Singapore, efforts to build an AI-fluent workforce are intensifying, supported by initiatives like the National AI Impact Programme and the TechSkills Accelerator Programme. These efforts aim to address the persistent shortage of AI-related skills, which remain among the hardest to find.

Mark Dixon, IWG Founder and CEO, stated, “The message from leaders—and particularly from younger generations—is clear: companies that do not embed hybrid working into their culture risk losing out in the race for tech talent.”

The Asia-Pacific (APAC) hearing implants market is set to expand at a compound annual growth rate (CAGR) of approximately 1% from 2026 to 2036, according to a report by GlobalData. This growth is attributed to demographic changes, such as ageing populations and heightened awareness of hearing health across the region.

GlobalData’s report highlights that the APAC region accounted for nearly 23% of the global hearing implants market in 2025. This significant share is supported by improvements in healthcare infrastructure, increased access to advanced hearing technologies, and their adoption in key clinical settings.

In a bid to address the growing demand for advanced hearing care solutions, Switzerland-based Sonova has partnered with the Singapore Economic Development Board. This collaboration aims to support long-term development in the APAC markets by establishing an innovation centre focused on affordable hearing solutions. The initiative is expected to bolster Singapore’s medtech ecosystem, create engineering and product development opportunities, and advance healthcare technology across the region.

Nidhi Bharti, a Medical Devices Analyst at GlobalData, emphasised the importance of building strong regional capabilities. “With the need for hearing care continuing to rise, building strong regional capabilities is critical. Expanding regional footprint can improve the availability of advanced hearing solutions whilst addressing affordability and access challenges across diverse markets,” Bharti stated.

The collaboration between Sonova and Singapore’s Economic Development Board underscores APAC’s increasing significance in the global hearing care ecosystem. By enhancing regional capabilities and improving access to next-generation solutions, the initiative aims to support sustainable growth and reach underserved populations.

Frasers Property Singapore, in collaboration with the Singapore Management University (SMU) Centre for Research on Successful Ageing (ROSA), has unveiled a study highlighting the increasing importance of suburban malls in the daily lives of Singapore’s seniors. As the nation approaches a super-aged society by 2030, with one in four Singaporeans expected to be 65 or older, the study reveals that over 60% of older adults visit suburban malls weekly for dining, errands, and leisure.

The study underscores the significance of accessibility and comfort, with 69% of seniors prioritising easy access via public transport, 41% valuing proximity to home, and 40% considering a practical tenant mix. Adrian Tan, Managing Director of Retail at Frasers Property Singapore, stated, “This study highlights the increasingly vital role suburban malls play as everyday social spaces for older adults—beyond places for transactions.”

In response, Frasers Property is launching the FRx50+ initiative on 1 May, targeting shoppers aged 50 and above. This programme includes curated promotions, community activities, and enhanced shared spaces. Key features include Golden Deals, $1 coffee treats, complimentary off-peak parking, and senior-led programmes such as interest groups and community partnerships.

The initiative also introduces pilot projects like priority checkout lanes and micro-job opportunities, alongside Silver Social Spaces to foster community engagement. These efforts aim to create more accessible and comfortable environments for seniors, reflecting their evolving needs and enhancing their mall experiences.

The World Gold Council’s latest report reveals that Singapore’s demand for gold bars and coins soared by 42% year-on-year to 3.5 tonnes in the first quarter of 2026, marking the highest quarterly demand on record. This surge occurred despite escalating gold prices, which have deterred jewellery purchases globally.

Globally, the demand for gold bars and coins increased by 42% to 474 tonnes, driven by retail investors seeking a safe haven amidst geopolitical tensions. In contrast, gold jewellery consumption in Singapore fell by 13% to 1.5 tonnes, aligning with a broader global trend as high prices discouraged consumer purchases. However, the value of jewellery demand rose, indicating a sustained willingness to invest in gold.

The report highlights that Asian markets, including China, India, South Korea, and Japan, experienced significant increases in bar and coin purchases, contributing to a structural shift in gold demand. Central banks also bolstered global reserves by adding 244 tonnes in the first quarter, underscoring gold’s role as a strategic asset during market volatility.

Shaokai Fan, Head of Asia-Pacific (ex-China) and Global Head of Central Banks at the World Gold Council, noted, “Q1 2026 saw investors across the Asia-Pacific region lead the charge in global gold demand.” He emphasised the strong investment momentum in Singapore and Southeast Asia, driven by geopolitical uncertainty and trade risks.

Looking ahead, the World Gold Council anticipates that geopolitical risks will continue to support gold demand, with central banks expected to maintain net buying. However, high interest rates may pose challenges, particularly in Western markets.