Industry News

OCBC has observed a significant increase in the number of seniors embracing digital red packets, known as e-Ang Baos, during the Lunar New Year celebrations in 2025. The bank reported that the number of seniors aged over 64 sending e-Ang Baos rose by over 40% compared to 2024, with nearly 80% of these seniors being first-time users. This trend highlights a growing comfort with digital transactions among older generations.

The popularity of e-Ang Baos is further underscored by a nearly 50% year-on-year increase in the total number sent by seniors. Additionally, there was a notable rise in the value of these digital gifts, with a 40% increase in seniors sending e-Ang Baos worth S$100 or more. The S$100 e-Ang Bao emerged as the most popular choice among seniors, with 1 in 10 opting for this amount.

Overall, the acceptance of e-Ang Baos has been on the rise in Singapore, with the total value sent increasing by close to 40% in 2025 from the previous year. The trend also saw more than 80% of e-Ang Baos being sent outside the first two days of the Lunar New Year. Popular amounts included S$10 and auspicious numbers like S$8, S$18, S$28, and S$88.

Ng Lee Peng, OCBC’s Head of Digital Business Singapore, remarked, “It is heartening to see how digital technology enables traditions to flourish across generations. e-Ang Baos enable seniors to send blessings of luck and good fortune to their relatives in a way that preserves the meaning of the custom, whilst remaining convenient and sustainable.”

The shift towards e-Ang Baos has been gaining momentum since the post-COVID era, with the number of customers sending them increasing nearly fivefold from 2022 to 2025. OCBC plans to continue this trend by offering refreshed e-Ang Bao designs featuring popular cartoon characters to enhance the gifting experience. The e-Ang Baos will be available on the OCBC app from 3 February 2026.

Citi Singapore and Citi Hong Kong have announced new strategic partnerships with Blackstone, Blue Owl, and KKR to enhance its private market offerings for Citigold Private Clients in Asia and the Middle East. This collaboration will allow high-net-worth clients to access alternative asset classes such as private equity, credit, infrastructure, and real estate, which were traditionally available only to institutional investors.

The newly launched funds are structured in an evergreen format, providing simplified access to private markets with flexible subscription and liquidity terms, subject to a minimum initial holding period. This initiative aims to offer clients opportunities for uncorrelated returns and long-term growth, directly participating in the value creation of private market assets.

Vicky Kong, Head of Wealth Asia North and Australia at Citi, highlighted the importance of this collaboration in today’s volatile market, stating, “This collaboration with Blackstone, Blue Owl, and KKR directly addresses that demand, providing sophisticated access to private markets that were once the exclusive domain of institutional and private bank investors.”

The partnerships are set to deepen Citi’s wealth management offerings, with Yeo Wenxian, Head of Wealth for Asia South at Citi, expressing excitement about leveraging the investment expertise of these global firms. Ed Huang from Blackstone, Sean Connor from Blue Owl, and Jacqueline Zhuang from KKR all emphasised the significance of expanding access to institutional-quality private market opportunities for Citi’s high-net-worth clients.

The rollout of these funds has begun and will continue over the coming months, marking a significant step in Citi’s commitment to delivering comprehensive wealth management solutions.

Singapore’s job market concluded 2025 with a notable trend: whilst hiring activity slowed, the labour market remained tight, according to Indeed’s December Hiring Lab report. Job postings fell by 0.3% in December, marking the ninth consecutive monthly decline, yet they remain 33% above pre-pandemic levels, keeping unemployment low.

The hospitality and tourism sector continues to drive demand, with job postings more than double pre-pandemic levels. Similarly, healthcare roles, including pharmacy and physicians, show sustained high demand. Conversely, sectors like childcare, HR, and civil engineering experienced sharper declines, indicating a more selective hiring approach.

Artificial intelligence (AI) is increasingly influencing the job market, with nearly 20% of December’s job postings referencing AI, up from 12.5% a year ago. This surge is most evident in data and analytics, software development, and scientific research roles. However, AI adoption remains limited in frontline service roles such as cleaning and sanitation.

The report highlights a trend of “job hugging,” where workers prefer to stay in stable roles with clear career paths, reflecting a focus on retention over job-switching in 2025. As Singapore positions itself as a tech hub, the demand for AI-related skills is expected to grow, further shaping the job market in 2026.

Sunrate, a global payment and treasury management platform, has announced the acquisition of an experienced payments team, marking the official launch of its global acquiring services. This strategic move aims to bolster Sunrate’s end-to-end global payments capabilities by integrating a team with over a decade of industry experience and a mature acquiring system. The acquisition enables Sunrate to expand its service footprint across various payment acceptance scenarios.

The newly acquired team will operate as Sunrate’s Global Acquiring Business Unit, bringing a production-proven acquiring solution validated through long-term operations. This includes a stable technology architecture, a comprehensive risk and compliance framework, and extensive experience in serving merchants across multiple markets. The team is adept in global card scheme connectivity, local payment method integration, and fraud prevention.

Sunrate’s Global Acquiring solution offers extensive payment method coverage, supporting six major international card schemes, 30 global e-wallets, and 50 local payment methods. It also provides flexible multi-currency settlement options, supporting 80 transaction currencies and 10 global settlement options. The solution is compatible with various platforms, including Shopify, and offers enterprise-grade security and risk protection.

Paul Meng, co-founder of Sunrate, stated, “Looking ahead, Sunrate will continue to invest in product and service innovation, including the application of AI and other advanced technologies.” The expansion into global acquiring represents a key milestone in Sunrate’s strategy, aiming to reduce cross-border operational complexity and costs for enterprises.

Founded in 2016, Sunrate has established itself as a leading solution provider, enabling companies to operate in 190 countries. With headquarters in Singapore and offices in Hong Kong, Jakarta, London, and Shanghai, Sunrate partners with top financial institutions such as Citibank and Barclays.

CIMB has outlined a strategic approach for investors in 2026, emphasising the importance of discipline, diversification, and derisking amidst the growing influence of artificial intelligence (AI) and Asia’s rising investment appeal. Jason Kuan, Director of Investment Research and Advisory at CIMB Singapore, advises focusing on high-quality stocks, expanding exposure to Asian markets, and incorporating hedging strategies to manage market volatility.

CIMB’s strategy, dubbed the ‘3Ds’, encourages investors to remain disciplined by selecting quality stocks and credit, diversify by investing in stable Asian markets like Singapore and Malaysia, and derisk through gold hedge strategies and private equity. “Investors may want to be more selective than just focusing on the US market,” Kuan stated, noting the high US stock prices and potential volatility from trade policies.

The bank also highlights Asia’s expanding role in the global AI supply chain and ongoing market reforms as key factors positioning the region as a prime investment destination. Countries like Japan, South Korea, and China are enhancing governance and liquidity, creating a supportive environment for earnings and valuations.

CIMB recommends a balanced portfolio approach, including Asian equities and high-quality corporate bonds, to navigate the anticipated volatility in a weakening US dollar environment. The bank suggests focusing on bonds with short-to-mid durations, particularly those denominated in AUD and GBP, to stabilise portfolios.

As global markets evolve, CIMB stresses the importance of maintaining a diversified portfolio to achieve steady, risk-adjusted returns. The bank’s 2026 outlook underscores the need for measured exuberance in investment strategies.

Skylink Holdings Limited has announced a proposed share placement to raise up to S$7.02m, aiming to bolster its financial position and support growth strategies. The placement involves up to 26 million ordinary shares at S$0.27 each, with SAC Capital Private Limited acting as the placement agent.

The proceeds from this initiative will primarily fund the expansion of Skylink’s electric commercial vehicle fleet and related initiatives, as well as enhance its loan book through potential mergers and acquisitions. This move comes as part of Skylink’s broader strategy to strengthen its market presence and financial flexibility.

Since its listing on the Singapore Exchange in September 2025, Skylink has been actively pursuing strategic initiatives. Notably, the company secured engineering service contracts with SBS Transit and F&N Foods in November 2025, and expanded its workshop facilities at Jurong Port Road. Additionally, Skylink acquired 132 commercial vehicles in December 2025, enhancing its revenue streams and optimising vehicle replacement cycles.

Wesley Shen, CEO of Skylink Holdings, emphasised the importance of the proposed placement, stating, “The capital raised will further strengthen our balance sheet, providing us with greater financial flexibility as we implement our growth strategies and pursue new opportunities.”

Non-Executive Chairman Teh Wing Kwan highlighted the potential to attract institutional investors, broadening Skylink’s investor base. The company had previously raised S$9.2m during its listing, reflecting strong investor confidence.

The placement shares will represent approximately 12.9% of Skylink’s enlarged share capital, and the company will seek approval for their listing on the SGX Catalist.

Frasers Property Singapore has launched a new retail brand and service identity aimed at enhancing the customer experience across nine of its 12 managed malls. This initiative introduces Singapore’s first in-store wayfinding and mapping solution, alongside revitalised customer touchpoints. The transformation is guided by the company’s purpose of “Inspiring experiences, creating places for good,” focusing on connectivity, inclusivity, and vibrancy.

The new identity will be progressively rolled out, featuring a refreshed visual system to strengthen brand recognition whilst allowing each mall to retain its unique character. Adrian Tan, Managing Director of Retail at Frasers Property Singapore, stated, “By bringing service, design and innovation under a unified identity, we hope to deliver a more thoughtful experience at every touchpoint.”

Key enhancements include revitalised concierge counters and roving Service Ambassadors, trained in hospitality to provide a welcoming and professional service. The introduction of community motifs co-created with employees and shoppers reflects each mall’s culture and history, reinforcing the company’s vision of transforming everyday spaces into places of connection and pride.

The innovative wayfinding solution, developed with accessibility advocates and indoor mapping leader Mappedin, offers turn-by-turn indoor navigation and barrier-free routes, enhancing accessibility for all visitors. This initiative is part of Frasers Property’s ongoing commitment to creating inclusive and vibrant retail environments.

As Frasers Property continues to evolve its malls into community-centric destinations, these enhancements mark a significant step in redefining the retail experience in Singapore. Future phases will introduce additional features to further improve convenience and accessibility.

The Singapore strata commercial market saw a notable shift in H2 2025, with strata retail outperforming strata office in sales activity, according to Knight Frank Singapore. The strata retail sector recorded 181 transactions, a 58.8% increase from the first half of the year, totalling S$448m in sales. This surge reflects a growing investor interest in retail properties as a hedge against rental cycles amidst broader sector challenges.

The strata office market, however, experienced a slowdown. Despite achieving a record number of 354 transactions in 2025, the total sales value fell 5.2% year-on-year to S$1.1b. The second half of the year saw a significant 51.7% decline in sales value to S$355.8m compared to H1 2025. The average unit price also dropped 20.7% to S$2,224 per square foot.

Mary Sai, Executive Director of Capital Markets at Knight Frank Singapore, noted that demand for strata offices remained concentrated in the Central Business District and city-fringe locations with strong transport connectivity. The Downtown Core Planning Area led with 40 units sold, valued at S$123m.

In the strata retail sector, eight transactions exceeded S$10m, including a notable S$39.2m deal in GB Building. Freehold strata retail transactions reached a high since 2016, with 109 deals amounting to S$285m.

Looking ahead, Knight Frank projects that anticipated interest rate cuts could bolster buying sentiment into 2026, with strata retail transaction values expected to range between S$500m and S$700m.

AXS, a leading payments platform in Singapore, has unveiled AXS Rewards, a new in-app programme designed to reward users for their routine bill payments. This initiative, launched on 28 January 2026, allows customers to earn AXS Coins for every bill paid through the AXS mobile app, which can be redeemed for vouchers to offset future bills.

AXS, which aggregates bills from over 800 billing organisations, aims to enhance customer experience by providing value through rewards. According to a recent survey, 53% of respondents indicated that utilities and telecommunications bills constitute the majority of their regular payments. This underscores the everyday nature of these transactions and the potential impact of the new rewards programme.

The launch includes a promotional Mystery Box, offering prizes worth up to $88 for a limited time. AXS CEO Quah Chun Han stated, “Paying bills is an essential but uncelebrated part of daily life, and there’s always a desire for more value from services our users already rely on.”

The programme is part of AXS’s strategy to consolidate bill payments on a single platform whilst maintaining simplicity and reliability. By Q2 2026, AXS plans to expand its rewards catalogue to include deals on food, beverages, travel, and more.

AXS Rewards is now available on the AXS mobile app, with full eligibility and redemption terms accessible within the app.

Cathay Pacific’s Airbus A350, featuring the iconic ‘lettuce leaf sandwich’ livery, made its debut landing at Singapore’s Changi Airport on 27 January 2026. This event is part of the airline’s “80 Years Together” anniversary celebrations, honouring its legacy and deep ties with Singapore, a key market in Southeast Asia.

The special livery, a nod to Cathay’s early years, symbolises the airline’s storied history and ongoing progress. Frosti Lau, Cathay’s Regional General Manager for Southeast Asia and Oceania, emphasised the significance of Singapore in Cathay’s journey since its first scheduled flight in 1946. “The special livery honours Cathay’s legacy whilst symbolising our continued progress to connecting the world via our Hong Kong hub,” Lau stated.

Cathay’s relationship with Singapore has seen numerous milestones, including being the first commercial airline to depart from Changi International Airport in 1981 and the launch carrier at Terminal 4 in 2017. The aircraft, adorned with the retro livery, will continue to operate on international routes throughout 2026, extending the visibility of Cathay’s anniversary celebrations globally.

As Cathay embarks on its anniversary year, it plans to roll out various celebrations and initiatives, highlighting the people, partnerships, and journeys that have shaped its story. The airline’s commitment to innovation and heritage continues to strengthen its presence in the region.