Industry News

DBS and the Korea Ocean Business Corporation (KOBC) have signed a Memorandum of Understanding (MOU) to facilitate the expansion of Korea’s maritime and logistics sector throughout Asia. This collaboration, announced on 3 December, marks KOBC’s first partnership with a foreign bank, enabling Korean maritime companies to leverage DBS’ extensive regional network and financing solutions.

The agreement coincides with the opening of KOBC’s first overseas branch in Singapore, a strategic move to strengthen the Republic of Korea’s maritime links with the city-state, recognised as the world’s leading maritime hub. The partnership aims to support Korean firms in diversifying into new markets by providing access to DBS’ digital cross-border payment capabilities, trade financing, and sustainable financing solutions.

Korea, a global leader in shipbuilding and high-value vessels, stands to benefit significantly from this collaboration. The initiative aligns with broader efforts to promote green shipping and digitalisation between Singapore and Korea, enhancing supply chain resilience and expanding global investment opportunities for Korea’s maritime industry.

Under the MOU, DBS and KOBC will work together to facilitate KOBC’s access to Singapore’s financial market, develop sustainable finance solutions, and enhance competitiveness across the maritime value chain. Han Kwee Juan of DBS expressed the bank’s commitment to supporting Korean firms in their sustainable regionalisation efforts, whilst Byung-Gil Ahn of KOBC highlighted the partnership’s role in strengthening Korea’s maritime industry.

This collaboration builds on DBS’ longstanding relationship with Korea, furthering its commitment to driving sustainable innovation and growth in the region.

HDB resale prices in Singapore experienced a modest increase of 0.2% in November 2025, according to the latest 99-SRX Media Flash Report. This slight rise follows a softer October, with year-on-year prices up by 3%. The report highlights a significant rebound in transaction volumes, with 1,674 flats sold, marking a 24.3% increase from the previous month.

The report, attributed to Luqman Hakim, Chief Data & Analytics Officer at 99.co, indicates that the market’s resilience is evident despite higher interest rates and policy adjustments. Demand remains strong, particularly for well-renovated units and those near transport nodes or schools. “This steady annual growth is consistent with broader market resilience,” Hakim noted.

Breaking down the figures, prices for 3-room, 4-room, and Executive flats saw increases of 0.3%, 0.7%, and 1.3%, respectively, whilst 5-room flats experienced a 0.6% decrease. Year-on-year, all room types recorded price gains, with Executive flats leading at 6.9%.

The report also reveals a robust market for million-dollar transactions, with 120 such flats sold in November, up from 87 in October. This increase reflects both the volume recovery and sustained demand for high-quality units. Notably, Bukit Merah recorded the highest number of million-dollar sales, followed by Toa Payoh and Queenstown.

Looking ahead, the continued demand for well-located and high-quality flats suggests a stable outlook for the HDB resale market, even amidst economic uncertainties.

Manulife Investment Management has been selected by the Monetary Authority of Singapore (MAS) as an asset manager under the Equity Market Development Programme (EQDP), a S$5b initiative aimed at enhancing liquidity and investor engagement in Singapore’s equities market. The programme focuses on actively managed strategies, particularly in small and mid-cap companies, to broaden market depth and research coverage.

The appointment will see Manulife launch a Singapore All-Cap Equity strategy, which is benchmark-unconstrained and research-driven. This strategy will allocate approximately 40% of its portfolio to small and mid-cap companies whilst maintaining significant exposure to large caps to ensure liquidity and diversified opportunities. HuiJian Koh, CEO of Manulife Investments, Singapore, stated, “This appointment reinforces our commitment to Singapore. By combining our global capabilities with deep local expertise, we aim to enhance market vibrancy and create long-term value for investors.”

With over 120 years of investment management experience in Asia, Manulife has managed Singapore equities since 2007. The firm plans to leverage its ability to raise external capital across various channels to support market development. Hock Fai Chan, Head of Equities, Singapore, noted the potential in Singapore’s small and mid-cap space, which has been historically under-researched. “These companies represent high-quality businesses with strong fundamentals and growth potential,” Chan said.

The EQDP is expected to catalyse greater research coverage and liquidity, fostering a more dynamic market for both institutional and retail investors. Manulife’s involvement underscores its focus on delivering long-term value and supporting Singapore’s ambition to become a leading investment hub in Asia.

Tuan Sing Holdings Ltd has received a crucial planning permit from the Melbourne City Council, paving the way for the redevelopment of its flagship property at 121-131 Collins Street. The project, managed through its subsidiary Grand Hotel Group, aims to transform the site into a premier destination featuring luxury retail and a world-class hotel. The redevelopment is set to commence early next year.

The property currently houses the 550-room Grand Hyatt Hotel and various retail spaces. The redevelopment plans include a new luxury retail podium spanning three levels, with flagship duplexes and a revitalised façade to enhance the streetscape along Collins and Russell Streets. This initiative aims to inject new energy into Melbourne’s “Paris End,” enriching the community experience.

Chief Executive Officer William Liem expressed enthusiasm about the project, stating, “This milestone sets the stage for redevelopment works to commence early next year.” He emphasised the project’s commitment to environmental sustainability, noting that the approach focuses on re-imagining rather than rebuilding.

The redevelopment will be funded through a combination of bank financing and internal resources. Upon completion, the property is expected to command higher rents, boost cashflow, and achieve a stronger valuation, contributing to Tuan Sing’s long-term growth strategy.

The Infocomm Media Development Authority (IMDA) has unveiled the Talent Accelerator Programme (TAP), a S$200m initiative designed to bolster Singapore’s media industry over the next three years. Announced by Tan Kiat How, Senior Minister of State for Digital Development and Information, at the Asia TV Forum and Market 2025, TAP aims to develop local talent, enhance co-production partnerships, and strengthen the global distribution of Singaporean content.

TAP is structured to support the entire media value chain, from development through to production and distribution, ensuring that Singaporean ideas reach international audiences. The programme will provide structured pathways for talent growth, focusing on genre-driven Intellectual Property (IP) development. “The S$200m Talent Accelerator Programme is a major investment to ensure that Made-with-Singapore content stands out on the international stage,” Tan stated.

The programme includes mentorships and masterclasses in story development, pitching skills, and deal negotiation, alongside co-funding for regional and global co-productions. Additionally, a dedicated marketing team and fund will elevate the profile of Singaporean content globally.

Yvonne Tang, Assistant Chief Executive of the Media Industry Group at IMDA, emphasised the importance of international partnerships, stating, “We believe that Singapore talent can hold their own alongside the world’s best.” TAP is set to open for applications in Q1 2026, marking a significant step in bringing Singaporean stories to the global stage.

The Institute of Singapore Chartered Accountants (ISCA) has announced two strategic partnerships with Jiangsu, China, to expand the pipeline of Chartered Accountant (CA) Singapore-qualified talent and support the overseas growth of Singaporean companies. These partnerships were formalised on 3 December 2025 during the 19th Singapore-Jiangsu Cooperation Council Meeting in Nanjing, co-chaired by Liu Xiaotao, Deputy Secretary of the CPC Jiangsu Provincial Committee, and Indranee Rajah, Singapore’s Minister in the Prime Minister’s Office.

The collaboration with Jiangsu aims to address the increasing demand for accountants with international expertise, mobility, and cultural fluency. ISCA’s partnership with the Jiangsu Institute of Certified Public Accountants (JICPA) focuses on professional exchange, talent development, and business expansion. Li Zailin, President of JICPA, highlighted the significance of this collaboration, stating, “Through this partnership, we will strengthen professional exchange, develop global-ready talent, support member firms in cross-border development, and enhance the international competitiveness of our accounting firms.”

Additionally, ISCA has signed a memorandum of understanding with Nanjing Audit University (NAU) to foster accountancy talent and industry advancement. This partnership will involve resource-sharing, curriculum collaboration, and continuous professional development. Professor Li Qianwen, Vice President of NAU, expressed enthusiasm, noting, “This partnership creates a strong bridge for our students to step onto the international stage.”

These initiatives are expected to bolster the accountancy sectors in both regions, facilitating the development of globally competent accountants and supporting Singaporean companies in their expansion into China. ISCA President Teo Ser Luck emphasised the importance of these partnerships, stating, “By working closely together, we can develop global-ready accountants, uplift professional standards, and support Singapore companies as they grow overseas.”

Informatica, a leader in AI-powered cloud data management, is collaborating with Singapore’s Income Insurance Limited to enhance its data governance framework. This partnership aims to improve decision-making and operational efficiency by integrating Informatica’s Cloud Data Governance and Catalogue solutions, which streamline data processes and increase productivity.

Income Insurance is scaling its financial data usage across various teams and systems, necessitating a robust data governance framework. David Tan, Chief Data Officer at Income Insurance, highlighted the importance of this initiative, stating, “Strong data governance lays the foundation of trust, which is essential for connecting technology and business teams to deliver accurate and timely insights.” The collaboration with Informatica has enabled Income Insurance to automate data governance processes, enhancing data visibility and ownership.

The implementation of Informatica’s solutions has significantly reduced data investigation time, with processes like impact analysis and data tracing now completed in minutes instead of hours. This automation reduces manual effort and improves data accuracy for business and reporting teams.

Steven Seah, Vice President for Informatica in ASEAN, Korea, and India, emphasised the importance of data management in today’s environment, saying, “In today’s data-driven and highly regulated environment, knowing where your data comes from and how it’s being used is essential.”

As data complexity and volume increase, Informatica’s Intelligent Data Management Cloud™ provides a comprehensive platform for managing data across various environments, ensuring organisations like Income Insurance can access reliable and governed data efficiently.

Alexandra Hospital has officially commenced the next phase of its redevelopment project with the appointment of two main contractors. The joint venture of Shimizu Corporation, Ssangyong Engineering & Construction Co. Ltd, and Kimly Construction Pte Ltd, alongside Rich Construction Company Pte Ltd, will lead the transformation of the 13.3-hectare campus, which is set to open progressively from 2028.

The redevelopment will feature two main towers for inpatient and outpatient services, linked by a “community boulevard” bridge. The hospital aims to provide approximately 1,300 beds and a full range of clinical services, including a pandemic-ready emergency department. This initiative is part of the National University Health System’s (NUHS) strategy to enhance healthcare in Singapore’s southwest and west regions, serving a population of 1.1 million.

Eric Chua, Adviser to Queenstown Grassroots Organisations, highlighted the project’s significance, noting its alignment with community needs, especially as Queenstown’s population ages. Professor Yeoh Khay Guan, Chief Executive of NUHS, emphasised the redevelopment’s role in supporting seamless patient care and advancing medical knowledge.

The hospital will integrate smart technologies, such as contactless monitoring and telehealth, to enhance patient care. Additionally, the “Virtual Hospital” will enable early detection of patient deterioration, whilst the “Living Lab” will focus on healthcare innovations.

The redevelopment also prioritises sustainability, aiming for Green Mark Super Low Energy certification. Heritage buildings will be preserved, and new facilities will include caregiver support spaces. This phased approach ensures operational continuity and workforce readiness as the hospital expands.
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Singapore’s Aires Applied Quantum Technology (AAT) is making strides in the quantum technology sector by advancing Southeast Asia’s first internationally filed post-quantum cryptography (PQC) and quantum technology patents. Founded and developed entirely in Singapore, AAT is one of the few deep-tech start-ups in the region approaching commercial viability, with a focus on encryption, IoT security, and quantum simulation algorithms.

AAT’s innovations are supported by a local research team and have garnered recognition from agencies such as Enterprise Singapore and the Monetary Authority of Singapore. The company’s patented technologies are designed to facilitate the adoption of quantum-safe cryptography by enterprises and individual users across Asia. Their offerings include quantum-resistant encryption APIs and the consumer app LionGuard, which provides quantum-safe cryptography on multiple platforms.

Ken Lin, Co-founder and Managing Director at AAT, highlighted the shift towards an IP-driven model in the quantum sector. “Recent patent consolidations by leading global firms underline how quickly proprietary algorithms and in-house research are becoming the core determinants of value,” he stated.

AAT’s approach focuses on lean algorithmic development, allowing it to operate profitably whilst expanding its patent portfolio and international partnerships. The company is exploring global expansion opportunities as Singapore continues to strengthen its quantum ecosystem.

As Singapore aims to secure its digital infrastructure and enhance economic competitiveness, AAT’s development underscores the importance of local innovation in building a diverse and resilient quantum ecosystem. The presence of homegrown firms like AAT is crucial for helping businesses adopt quantum-safe practices as quantum hardware becomes more accessible.

Fiuu, a leading Southeast Asian payments enabler, has teamed up with Apple to introduce Tap to Pay on iPhone in Singapore. This innovative partnership allows merchants to accept contactless payments securely and swiftly through the Fiuu Virtual Terminal app, eliminating the need for additional hardware. The technology supports various payment methods, including contactless credit and debit cards, Apple Pay, and other digital wallets.

This development is particularly significant for small and medium-sized enterprises (SMEs) in Singapore and the broader Southeast Asian region. By adopting this technology, SMEs can compete more effectively with larger retail players by reducing operational costs and enhancing their payment flexibility and scalability. Eng Sheng Guan, CEO of Fiuu, stated, “With the enablement of Tap to Pay on iPhone, payments are no longer tied to fixed locations. This gives businesses the flexibility to serve consumers wherever the interaction happens.”

The Tap to Pay on iPhone feature leverages the iPhone’s built-in security and privacy features, ensuring that business and customer data remain protected. Notably, Apple does not store card numbers or transaction information on the device or its servers, providing peace of mind for both merchants and customers.

Already adopted by brands like Razer, Beutea, and IDS Aesthetics Clinic, this technology is set to transform the payment landscape in Singapore. Merchants can quickly set up and begin accepting contactless payments using an iPhone XS or later, running the latest iOS version.

Fiuu’s collaboration with Apple marks a significant step in the evolution of digital payments, reflecting a shift in customer preferences towards more convenient and universal payment solutions.