Industry News

Global logistics provider J&T Express has released its 2025 Environmental, Social, and Governance (ESG) Report, highlighting its advancements in sustainable logistics and energy management. By the end of 2025, the company had established 14 logistics parks worldwide, covering 1.05 million square metres, and deployed over 150,000 energy-efficient motorised rollers and 400 conveyor belts.

J&T Express has also expanded its autonomous vehicle fleet to over 1,000, enhancing last-mile delivery efficiency. The company has introduced 38.27 million reusable transit bags, used over 3.33 billion times, to promote green packaging. In Southeast Asia, Singapore’s fleet now includes 6% electric lorries, whilst the Philippines has achieved 100% adoption of B5 biodiesel, reducing fossil fuel dependency.

The report underscores J&T Express’s commitment to employee welfare, with initiatives like the 2025 Platform Algorithm and Labour Rules Agreement in China, benefiting over 290,000 workers. The company has increased its digital training offerings by 60% year-over-year, with training hours up 2.8 times.

J&T Express’s social responsibility efforts include using drones for agricultural logistics in China and providing disaster relief in Hong Kong and Indonesia. The company has also strengthened its global compliance framework, focusing on anti-corruption and fair competition.

Chief Financial Officer Dylan Tey stated, “ESG has evolved from a concept into concrete operational capabilities. We have proactively explored green transportation transformation and governance of new employment forms.” Looking forward, J&T Express aims to enhance its ESG governance and information disclosure to create long-term value for stakeholders.

Eneco Energy Limited has announced its intention to acquire Fastweld Engineering Construction Pte. Ltd. for S$4.3m. The acquisition, subject to shareholder approval at an upcoming Extraordinary General Meeting (EGM), is expected to enhance Eneco’s revenue base by integrating Fastweld’s engineering capabilities with its existing logistics operations.

The acquisition will see Eneco Energy’s wholly-owned subsidiary, Eneco Singapore Pte. Ltd., purchase 100% of Fastweld’s issued and paid-up share capital from Union Engineering Pte. Ltd. This strategic move is designed to diversify Eneco’s business portfolio, providing a complementary platform in the engineering sector. The acquisition is anticipated to increase the company’s profit attributable to equity holders from S$102,000 to S$325,000 based on pro forma financial results for FY2025.

The transaction is classified as both a “Major Transaction” and an “Interested Person Transaction” under the Singapore Exchange’s listing rules, necessitating shareholder approval. The acquisition aligns with Eneco’s strategy to broaden its business profile and manage diversification risks through phased evaluation and oversight.

Union Steel Holdings Limited, the ultimate holding company of Fastweld, is a substantial shareholder of Eneco Energy, holding approximately 25.02% of its total ordinary share capital. The acquisition is expected to provide additional growth avenues for Eneco, leveraging Fastweld’s expertise in industrial engineering and maintenance works. Further details will be provided in a circular issued by Eneco ahead of the EGM.

The National Arts Council (NAC) and Changi Airport Group (CAG) have embarked on a three-year partnership to bring Singapore’s arts and culture to the forefront of the global stage through Changi Airport. Announced on 27 April 2026, this collaboration will feature curated art displays, live performances, and activations within the airport’s terminals, offering both local and international passengers a taste of Singapore’s artistic excellence.

The initiative was launched at Changi Airport Terminal 4, with Senior Minister of State for Culture, Community and Youth, Low Yen Ling, attending as Guest-of-Honour. The event included live poetry and music performances by local artists, celebrating the new partnership.

Over the next three years, Changi Airport will host a variety of multidisciplinary arts initiatives, including Singapore Literature (SingLit) poetry and live music performances, extending the reach of NAC’s I Play SG Music initiative. During major arts festivals, the airport will also serve as a platform for visual artists, enhancing the international visibility of Singapore’s creative talents.

“NAC’s partnership with CAG turns one of the world’s busiest hubs into a creative stage for Singapore artists, providing them with access to global travellers,” said Elaine Ng, CEO of NAC. Yam Kum Weng, CEO of CAG, added, “Changi Airport offers an opportunity to reflect Singapore’s cultural vibrance through the creative works of our homegrown artists as part of the passenger experience.”

This collaboration aligns with NAC’s broader strategy, guided by Our SG Arts Plan (2023–2027), to integrate the arts into public spaces beyond traditional venues, further establishing Singapore as a distinctive city for the arts.

Opensignal’s latest Global Network Excellence Index reveals South Korea’s continued dominance in mobile network performance, securing the top spot globally and within the East Asia and Pacific region. The index, updated with Q1 2026 data, evaluates mobile networks based on Time on 4G/5G, Excellent Consistent Quality, and Download Speed. Singapore, however, has slipped to 4th place in the regional rankings, down from 3rd in the previous quarter.

The index serves as a crucial tool for assessing mobile network readiness to meet future digital demands. It provides insights into infrastructure capabilities, user experience, and future-proofing of digital services. South Korea’s leading position is attributed to its top performance across all metrics, highlighting its robust network infrastructure and readiness for future growth.

As digital demands continue to rise, the index highlights the need for countries to enhance their mobile networks to ensure seamless digital experiences. The insights provided by Opensignal’s index are essential for understanding which markets are best equipped to handle the increasing connectivity needs of the future.

Singlife has unveiled a revamped version of its digital-first investment platform, dollarDEX, aimed at providing Singaporeans with a more intuitive and streamlined investing experience. The platform, which was one of Singapore’s first fintech initiatives, now offers simplified account opening, improved fund discovery, and streamlined trading to support long-term financial planning and retirement.

The upgraded dollarDEX platform features curated Core and Focused solutions to help users manage cash, generate income, and invest for long-term growth. Additional enhancements, such as an interest-bearing Cash account and an integrated insurance-investment portfolio view, are set to be introduced progressively. Notably, dollarDEX operates on a zero-fee model, eliminating platform fees and sales charges to maximise investor returns.

Aditya Sood, Chief Operating Officer of GROW with Singlife, stated, “dollarDEX is designed with our clients at the heart of every decision. We’ve listened closely to feedback and have evolved the platform for today’s retail investor. It is affordable, simple, and intuitive.”

The platform complements GROW with Singlife, which supports financial advisers with enhanced tools and insights. Together, these platforms aim to empower both advised and self-directed investors. As part of the launch, dollarDEX is offering a limited-time promotion until 17 July 2026, where customers can earn up to $13,000 in bonus units for qualifying investments.

With over 1,500 funds available across various asset classes and geographies, dollarDEX is well-positioned to play a significant role in Singapore’s retail mutual fund market, estimated at S$140-160b by the Monetary Authority of Singapore.

Singapore Technologies Engineering Ltd (ST Engineering) has announced securing $4.8b in new contracts during the first quarter of 2026. The contracts are distributed across its Commercial Aerospace, Defence & Public Security, and Urban Solutions & Satcom segments.

In the Commercial Aerospace sector, ST Engineering clinched $1.7b in contracts. These include multi-year agreements in Maintenance, Repair & Overhaul (MRO) for airframes, engines, and components. Notable deals involve supporting an American airline’s Airbus fleets and a Boeing fleet for an air freight operator. Additionally, the Aerostructures & Systems business saw demand for engine nacelles and composite floor panels, alongside freighter conversion contracts for the Airbus A330-300.

The Defence & Public Security segment secured $2.4b, with significant international wins, particularly in the Middle East. A notable contract includes a €315m (approximately $470m) MRO deal with the Qatar Emiri Land Forces. The Marine business was awarded a $600 million sub-contract by Abu Dhabi Ship Building for the Kuwait Naval Force. Other contracts cover ammunition orders, AI-enabled systems, and cybersecurity solutions.

Urban Solutions & Satcom garnered $0.7b in contracts, driven by smart city solutions. The Urban Solutions business secured deals for rail electronics in Singapore and road projects in the Middle East. The Satcom business won contracts for ground segment infrastructure in Asia and Europe.

These contracts are not expected to materially impact ST Engineering’s financial metrics for the current year.

The latest report from PropNex Research reveals that Singapore’s shophouse market experienced a significant slowdown in Q1 2026, with sales transactions dropping to a near three-decade low. The report attributes this decline to a subdued macroeconomic environment and a mismatch in pricing expectations between buyers and sellers.

According to URA Realis data, only 13 shophouse transactions were recorded in Q1 2026, marking a 43.5% decrease from the 23 deals in Q4 2025. This represents the weakest quarterly performance since Q2 1998. Despite the downturn, the report suggests that demand remains, with buyers focusing on shophouses in prime locations with strong tenant profiles and long lease tenures.

The total sales value for Q1 2026 amounted to approximately $88m, a 48% drop from the previous quarter’s $170m. Notably, the largest transaction was a three-storey conservation shophouse on East Coast Road, sold for $16m.

Looking ahead, the shophouse market faces a challenging landscape due to ongoing geopolitical tensions and economic headwinds. However, Singapore’s reputation as a stable investment destination may continue to attract interest in well-located, investment-grade assets. PropNex highlights Singapore’s strong governance, pro-business policies, and robust regulatory frameworks as factors supporting this safe-haven appeal.

Whilst transaction activity may remain moderate, the resilience of capital values is expected to persist, providing some optimism for the market’s future.

Singapore’s industrial production (IP) experienced a robust 4.7% month-on-month seasonally adjusted increase in March, alongside a 10.1% year-on-year rise, according to UOB Global Economics and Markets Research. This growth surpasses the previous month’s decline of 1.2% and 3.3% respectively. The first quarter of 2026 saw manufacturing growth at 7.9% year-on-year, exceeding the advance estimates of 5.0%, suggesting a potential upward revision of the GDP growth to approximately 5.2% from the earlier 4.6%.

The electronics sector led the charge with a 5.7% monthly increase, bolstered by strong semiconductor demand linked to artificial intelligence (AI) advancements. Precision engineering also surged by 21.8%, driven by increased production of optical instruments and semiconductor equipment. Pharmaceuticals saw a 14.4% monthly rise, although they fell 17.9% year-on-year due to high base effects.

However, the petrochemical sector faced significant challenges, with a 23.9% monthly decline attributed to disruptions in feedstock supply. This was compounded by ongoing issues in the Strait of Hormuz, affecting supply chains and leading some companies to declare force majeure.

Despite these headwinds, UOB’s report suggests that the overall industrial production could remain resilient, supported by the electronics and semiconductor sectors. “Headwinds in the petrochemicals segment could intensify in the months ahead,” the report notes, but AI-related demand is expected to provide a cushion for the broader industrial landscape.

Bank of Singapore has bolstered its Family Office and Wealth Advisory team by appointing Elvin Ho as Head of Family Office and Structuring Solutions, effective 4 May 2026. This strategic move aims to address the growing complexities faced by ultra-high-net-worth (UHNW) clients in succession, legacy, and wealth transfer planning. The bank has witnessed a record number of client engagements in 2025, with expectations for continued growth.

Elvin Ho brings extensive experience from his previous role at JPMorgan Private Bank, where he advised UHNW clients in Southeast Asia on taxation, estate, and succession planning. His 19-year tenure at UBS AG further solidified his expertise in wealth planning and investment consulting. In his new role, Ho will focus on developing family office offerings and wealth structures, particularly for UHNW clients.

The leadership expansion also sees Jiawen Guo taking on the role of Head of Family Office and Wealth Advisory, Singapore. Christine Wong continues to lead the Hong Kong team, whilst Yasmine Omari oversees the Dubai operations. Harry Ng has been appointed as Senior Wealth Adviser for Singapore and Malaysia, all reporting to Paul Chua, Head of Family Office and Wealth Advisory.

This enhancement aligns with OCBC Group’s Whole-of-Wealth strategy, integrating services across OCBC Bank and Great Eastern Holdings. Paul Chua expressed confidence in the strengthened team, stating, “We continue to leverage on our differentiated wealth advisory approach to help clients address their most important objective and purpose – to grow and preserve their wealth for the next generation.”

Straits Financial Services Pte Ltd (SFSPL), a member of Straits Financial Group, has been granted overseas intermediary futures broker status by the Shanghai Futures Exchange (SHFE) and the Guangzhou Futures Exchange (GFEX). This development allows SFSPL to facilitate international client access to selected products listed on these exchanges, marking a significant step in broadening global participation in China’s futures markets.

The overseas intermediary model adopted by SFSPL simplifies entry for international investors by eliminating the need for complex onshore structures, thus enabling more efficient cross-border access whilst adhering to China’s regulatory framework. Roger Quek, CEO and Managing Director of SFSPL, stated, “As China’s futures market continues to open up, this recognition represents a meaningful milestone for both SFSPL and our clients.”

This status not only strengthens SFSPL’s position in connecting global investors with China’s onshore opportunities but also underscores its commitment to risk management, compliance, and execution efficiency. As China’s derivatives market evolves, SFSPL is poised to support clients seeking deeper engagement in this promising sector.

Founded in 2010 and headquartered in Singapore, SFSPL is known for promoting innovative contracts and providing comprehensive services to meet the needs of traders. With a robust presence in Asia, the company leverages its local insights to offer global market access, reinforcing its role as a pivotal player in the financial and commodity derivatives markets.