Industry News

Agora, a US-based real-time engagement technology provider, has announced a strategic partnership with Singapore’s WIZ.AI to introduce AI-powered customer engagement solutions. This collaboration, unveiled today, seeks to address the rising demand for scalable automation in customer service, enabling enterprises to manage interactions across multiple languages and regions efficiently.

The partnership combines Agora’s ultra-low-latency communication infrastructure with WIZ.AI’s scenario-driven voice AI technology. This integrated platform is designed to automate large volumes of customer interactions, supporting real-time, natural conversations in various local languages and dialects. WIZ.AI’s solutions are already utilised by major banks, insurers, and telecom companies across Southeast Asia.

According to Gartner, by 2029, agentic AI is expected to autonomously resolve 80% of customer service issues, potentially reducing operational costs by 30%. This highlights the market’s shift towards AI-driven customer engagement, a trend Agora and WIZ.AI aim to capitalise on with their new solution.

Tony Zhao, CEO and Co-founder of Agora, emphasised the partnership’s potential to enhance service levels whilst managing costs. “Our collaboration is about delivering AI agents that are reliable, multilingual, and capable of real-time communication even under challenging network conditions,” Zhao stated.

Jennifer Zhang, President and Co-founder of WIZ.AI, added that their combined technologies enable AI agents to understand context and adapt mid-conversation, providing consistent service across regions. The solution targets sectors such as financial services, telecommunications, and retail, where efficient management of large-scale customer interactions is crucial.

This partnership marks a significant step in the evolution of customer service automation, promising to reshape how global companies engage with their customers.
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Fintech startup Lana has successfully closed its first funding round, backed by Liminal, a venture creation group founded by Temasek and Twynam Investments. The Singapore-based platform is designed to address the pressing challenges faced by chief financial officers (CFOs) in the Asia-Pacific (APAC) region, including rising energy costs and impending carbon taxes, as the area shifts towards new energy models.

Founded by Vincent Choi, a fintech veteran, Lana is developing the first integrated platform in APAC that combines blended finance with advanced risk modelling. This initiative aims to expedite and reduce the cost of decarbonisation financing for corporations. “Energy costs have increased 20–100% across APAC markets, whilst carbon pricing mechanisms are set to impact exporters starting in 2026,” Choi stated. The platform seeks to provide faster access to financing, enabling corporations to fund their energy transformations and extend financing to their value chains.

Lana’s approach is to connect corporations with leading climate technologies from the UK and Europe, creating a multiplier effect that generates carbon credits and reduces overall transition costs. Sonny Vu, Chief Builder at Liminal, highlighted the importance of platforms that can effectively channel capital towards decarbonisation whilst maintaining commercial viability for sustainable development in Southeast Asia.

With regulatory pressures such as the EU’s Carbon Border Adjustment Mechanism starting in January 2026 and carbon pricing in five APAC markets from 2027, Lana is well-positioned to help corporations protect their margins and secure energy independence.
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Emirates, the world’s largest international airline, is celebrating 35 years of operations in Singapore, having transported over 10 million passengers between Singapore and Dubai since 1990. The airline, which began with a single daily flight, now operates four daily flights, making it a popular choice for travellers heading to destinations such as London, Paris, and Rome via Dubai. In the past year alone, over 800,000 passengers have flown between the two hubs.

The airline’s commitment to Singapore is evident in its recent initiatives, including the introduction of the Premium Economy cabin on the Singapore-Dubai route in June 2023. This cabin, offering enhanced comfort and space, has been well-received, with over 87,000 passengers choosing this option. Emirates’ Premium Economy has also garnered accolades, winning ‘Best Premium Economy Class’ at the 2024 Business Traveller Asia-Pacific Awards.

In addition to passenger services, Emirates plays a crucial role in cargo transport, moving an average of 300 tonnes weekly between Singapore and Dubai. The airline’s cargo includes pharmaceuticals, valuables, and fresh produce, highlighting the strong trade relationship between the two regions.

To commemorate its 35th anniversary, Emirates is offering special fares on bookings made until 30 June 2025, for travel through 30 November 2025. This gesture of appreciation underscores Emirates’ long-standing relationship with Singapore and its commitment to providing world-class service.
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SIA Engineering, UOL, Sheng Siong, Raffles Medical, and DFI Retail Group have emerged as the top performers in the FTSE ST Mid Cap Index for the first half of 2025. Despite their strong performance, the index recorded a 1.5% decline in total return, underperforming the FTSE Asia Pacific Mid Cap Index, which posted a 4.6% gain.

The FTSE ST Mid Cap Index, which includes nine non-STI companies such as Olam Group and ComfortDelGro, averaged a 3.2% total return by 25 June. Notably, SIA Engineering, Raffles Medical, and Sheng Siong experienced significant increases in trading turnover. Sheng Siong also boasted the highest return on equity (ROE) among the index constituents at 26.7%.

SIA Engineering reported a 13.8% rise in revenue to S$1,245.1 million and a 43.8% surge in net profit to S$139.6 million for FY24/25. The company attributed this growth to increased demand for Maintenance, Repair, and Overhaul (MRO) services as airlines expanded their networks. The company aims to expand across the Asia-Pacific region to meet rising MRO demand.

Sheng Siong’s revenue grew by 7.1% to S$403.0 million in its 1QFY25 Business Update, driven by new store openings and festive sales. The company plans to continue its expansion with additional store openings.

The FTSE ST Mid Cap Index maintains a market capitalisation of S$125 billion, with an average daily turnover of S$340 million in 2025. However, it faced a net institutional outflow of S$973 million, primarily from the S-REIT Sector, Yangzijiang Shipbuilding, and SATS. As the year progresses, market participants will be keen to see if these trends continue or if new leaders emerge within the index.
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A new report from Beazley, a leading specialist insurer, reveals that Singapore executives may be overconfident in their cyber security preparedness. The Risk & Resilience report, titled “Spotlight on Tech Transformation & Cyber Risk 2025,” highlights that 26% of Singapore executives now view cyber risk as their greatest threat, an increase from 24% in 2024. Despite this growing concern, 87% believe they are adequately prepared to tackle these risks, suggesting a possible disconnect between perception and reality.

The report underscores the importance of vigilance, as many organisations may not be as prepared as they believe. Teck Siong Ng, Regional Manager for Cyber Risks in Asia Pacific at Beazley, noted, “In an era of accelerating cyber risks, businesses across the APAC region need elevated cyber resilience.”

The study also found that 86% of executives plan to enhance their cyber security with third-party suppliers, and 40% intend to invest in cyber security improvements this year. This proactive approach is crucial as cyber threats continue to evolve, with AI-driven ransomware and hacktivism posing significant challenges.

Additionally, the report highlights the transformative potential of artificial intelligence, with 85% of Singapore executives agreeing that AI will positively impact their economic prospects. However, concerns about intellectual property and data privacy remain prevalent.

The findings suggest that whilst awareness of cyber threats is increasing, there is a need for sustained efforts to ensure genuine preparedness and resilience against the complex cyber landscape.
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Nasdaq has announced a significant advancement in digital asset infrastructure by partnering with Singapore’s QCP Primrose Capital Management and Digital Asset. This collaboration integrates blockchain-based technology with Nasdaq Calypso, facilitating end-to-end margin and collateral workflows on the Canton Network. The initiative aims to enhance collateral mobility across all asset classes for institutional market participants.

Nasdaq Calypso, a leading technology platform, is designed to manage risk, margin, and collateral needs seamlessly. The partnership will expand its capabilities to support automated, 24/7 margin and collateral management across a wide range of assets, including crypto derivatives and over-the-counter derivatives. This move is seen as a step towards maturing and scaling next-generation digital asset infrastructure.

Melvin Deng, CEO of QCP, highlighted the significance of this development, stating, “Partnering with a global technology leader like Nasdaq is a testament to our commitment to building the next generation of institutional-grade market infrastructure.” He emphasised the paradigm shift in capital efficiency brought about by automating collateral management on-chain.

Yuval Rooz, Co-Founder and CEO of Digital Asset, noted that the integration enhances institutional workflows by automating margin and collateral processes on-chain, providing real-time efficiency and control. Linus Ong, Chief Investment Officer at Primrose Capital Management, added that this integration aligns portfolio management with institutional-grade on-chain infrastructure.

Nasdaq’s Head of Marketplace Technology, Magnus Haglind, remarked on the convergence of capital market infrastructure and the digital asset ecosystem, highlighting the need for improved real-time risk management. Nasdaq plans to advance its digital asset capabilities, supporting institutional adoption and driving resilience across the market.
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The Singapore Business Federation (SBF) has proposed extending the compliance deadline for International Sustainability Standards Board (ISSB)-based climate-related disclosures for smaller listed companies in Singapore. This recommendation follows feedback from nearly 40 companies on the Mainboard and Catalist boards, who expressed concerns about meeting the mandatory climate reporting requirements set to begin for financial years starting on or after 1 January 2025.

SBF’s recommendations aim to address the challenges faced by small- and mid-cap companies, which make up 84% of listings on the Singapore Exchange (SGX). The federation suggests granting these companies an additional one to two years to comply, making disclosure requirements proportionate to their size, providing Singapore-specific guidance, and establishing a central platform for digital reporting.

The feedback revealed that only 4% of the engaged companies are confident in meeting the current timeline. Many cited a lack of understanding of the disclosure requirements and insufficient resources to build the necessary internal capabilities. The SBF believes that extending the deadline would allow these companies to enhance their data collection processes and learn from the larger companies’ reports due in FY2025.

Kok Ping Soon, CEO of SBF, stated, “Our key recommendation is to extend their compliance deadline. This does not represent a step back from Singapore’s climate reporting ambitions, but is a practical measure to provide smaller ListCos more time to strengthen internal readiness.”

The SBF remains committed to collaborating with stakeholders, including SGX RegCo and other government agencies, to support the business community in preparing for climate-related risks and opportunities.
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Maybank IBG Research has released its latest reports on the economic outlook for Thailand and Singapore, highlighting key developments and forecasts. In Thailand, the Bank of Thailand (BOT) has maintained its interest rate at 1.75% but indicated a shift towards a more dovish monetary policy. The country’s GDP growth is projected to decline to 1.7% by 2026, down from 2.3% this year. The Thai Cabinet has approved a stimulus package worth THB115 billion, equivalent to 1.5% of GDP, to counteract potential economic challenges, including domestic political instability.

In Singapore, the report suggests that the city-state is well-positioned to benefit from capital rotations due to strong policy certainty amidst ongoing US economic uncertainties. The Singaporean market could gain momentum through equity market policy reforms and is expected to be driven by five key themes: domestic resilience, positive effects from China’s recovery, accelerating corporate capital returns, opportunities from the JS-SEZ, and AI-led efficiencies. Consequently, Maybank IBG Research has raised its 2025 Straits Times Index (STI) target to 4,185, with top stock picks including CICT, CD, CSE, FEH, ISOTeam, Sea, SGX, SCI, ST, and STEng.

These insights are crucial for investors and policymakers as they navigate the evolving economic landscapes in Thailand and Singapore. The reports underscore the importance of strategic planning and adaptation to both domestic and international economic shifts.
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Singapore’s workforce has experienced the highest global increase in thriving workers, with an 11 percentage point rise to 26%, according to ADP Research’s “People at Work 2025” report. This growth contrasts with a global decline of two percentage points in 2024. Thriving workers are defined as those who view work pressures positively, leading to higher engagement, productivity, and resilience.

Despite this progress, Singapore still lags behind regional leaders like China, which boasts 40% thriving workers, followed by The Philippines at 30% and Indonesia at 27%. The report highlights that 59% of Singaporean workers still feel stressed, impacting productivity, whilst 15% perceive work pressure negatively, affecting their well-being.

Yvonne Teo, Vice President of HR, APAC at ADP, noted, “Stress is a constant in a high-performing economy like Singapore, but not all stress is harmful. The data shows that more workers are managing stress in ways that drive performance and growth.”

The report also addresses the psychological impact of perceived judgement in the workplace. Nearly half of Singaporean respondents feel scrutinised in hybrid and remote work settings, a figure higher than the global average of 32%. This perceived pressure can exacerbate stress, reducing job satisfaction and productivity.

Nela Richardson, Chief Economist at ADP, emphasised, “The simple absence of bad on-the-job stress doesn’t guarantee that workers will thrive. Other factors, such as a lack of trusting relationships with one’s co-workers or leaders, or feelings of limited freedom and flexibility within the workplace, might also be involved.”

The findings underscore the need for organisations to support employee mental health and adapt to evolving workplace stressors.
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Morgan Stanley Research has reaffirmed its positive outlook on Singapore, projecting a robust return on equity (RoE) of 14% by 2030, supported by a price-to-book (P/B) re-rating to 2.3x. The report identifies Singapore’s strategic position as a “hub of hubs,” its swift adoption of new technologies, and proposed equity market reforms as key drivers of its structural wealth creation.

The report underscores Singapore’s defensive stance in a multipolar world, highlighting its macroeconomic stability, strong governance, and financial resilience. Morgan Stanley emphasises that Singapore’s corporate sector is shifting towards higher-return business models, particularly in banking, where wealth management businesses are expanding. This shift is expected to result in higher dividend payouts and buybacks.

Morgan Stanley’s analysis suggests that ongoing equity market reforms are beginning to attract institutional investors, with large-cap companies like Sembcorp, DBS, and SGX poised to benefit from initial inflows. The Monetary Authority of Singapore (MAS) has already introduced the first set of reform measures, with more expected in the latter half of 2025.

However, the report cautions that potential risks include a slowdown in global trade, financial decoupling between the US and China, and slower-than-anticipated market reforms. Despite these challenges, Morgan Stanley maintains Singapore as a key Overweight market alongside India, Japan, and Brazil, assigning a 100 basis point Overweight recommendation in its regional market allocation framework.

In conclusion, Morgan Stanley’s report positions Singapore as a leading market for investment, driven by its strategic economic initiatives and resilience in the face of global uncertainties.
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