Industry News

Singapore businesses are increasingly recognising the importance of risk management in driving growth, yet many still involve risk teams too late in the decision-making process, according to a new study by Coface. The research, which surveyed 1,250 senior risk and finance decision-makers across 13 markets, including 50 from Singapore, highlights a significant gap between the desire for risk management and its practical application.

The study found that 70% of Singapore organisations feel that the pursuit of growth often conflicts with risk management, compared to 62% globally. Despite this, only 16% of businesses involve risk teams at the idea stage, falling short of the global average of 24%. This delay can lead to fewer options for structuring transactions and adjusting terms, potentially slowing down decision-making in a fast-paced market.

Grishma Kewada, Chief Executive and Country Manager of Coface Singapore, noted, “Singapore businesses are not lacking in ambition. The challenge is ensuring that risk management evolves at the same pace as commercial strategy.”

The survey also revealed that 92% of Singapore businesses desire AI-driven insights and early-warning signals, indicating a strong interest in leveraging technology for risk management. Additionally, 70% of firms are looking to external partners for predictive insights, suggesting a shift towards more proactive risk management strategies.

As businesses increasingly seek to balance growth with risk management, the report concludes that involving risk teams earlier and utilising external intelligence can help Singapore organisations make faster, more confident decisions.

Singaporeans are redefining their travel habits, prioritising value and experiences amidst financial concerns, according to Klook’s Travel Pulse 2026 survey. Despite 71% of respondents citing financial worries as a major barrier, eight in 10 are still travelling, opting for smarter planning and cost-effective strategies.

The survey highlights that Singaporeans are not cancelling trips but are instead adjusting their itineraries. A significant 80% have altered their travel plans this year, focusing on destinations and booking methods that offer better value. Many are actively seeking deals, with 47% searching for discounts, 46% booking earlier for better prices, and 31% choosing cheaper accommodations.

Sarah Wan, General Manager of Klook Singapore, noted, “Cost-consciousness is changing how Singaporeans travel, not whether they travel. They’re travelling smarter, not less, whilst planning more intentionally, seeking better value, and choosing experiences that matter most.”

Japan, Mainland China, and Vietnam have emerged as top destinations for Singaporeans in 2026. Japan remains a favourite, with a 20% increase in demand, whilst secondary cities like Sapporo and Nagoya are gaining popularity. Mainland China has seen a doubling of bookings, with cities like Hangzhou experiencing a 233% surge. Vietnam’s appeal continues to grow, with a 50% increase in demand, driven by its cultural and culinary offerings.

The economic climate has prompted Singaporeans to plan more deliberately, with 42% starting their travel planning based on desired experiences rather than destinations. Trusted travel platforms remain popular, with 57% preferring them for their authentic reviews and reliability.

As Singaporeans continue to prioritise travel, value remains central to their decisions, with trusted platforms playing a crucial role in helping them maximise their budgets.

The shophouse market in Singapore experienced a modest recovery in the second quarter of 2026, according to Huttons’ latest report. The quarter saw 16 caveated transactions, up from 14 in the previous quarter, although still below the 20 transactions recorded a year earlier. The total value of deals reached $193.7m, marking a 2.2-fold increase from Q1 2026’s $90m, but a 16.8% decline compared to Q2 2025.

The quarter was highlighted by significant transactions, including the sale of three shophouses in Lorong Liput for $70m and Keong Saik Road for $22m. These high-value deals were driven by Singapore’s status as a safe haven and the prevailing low interest rates.

Huttons’ Senior Director of Data Analytics, Lee Sze Teck, noted that the market’s appeal lies in its limited supply and the preference for properties with 999-year or freehold tenure, which are seen as valuable for wealth preservation. In Q2 2026, 87.5% of shophouses sold were on such tenures.

Looking ahead, Singapore’s safe haven status is expected to continue attracting capital, bolstered by the Monetary Authority of Singapore’s plans to streamline private banking account openings by the end of 2026. Despite geopolitical tensions, particularly between the US and Iran, the outlook for the shophouse market remains positive, with a steady stream of transactions anticipated for the remainder of the year.

MSCI Inc. and UBS Group AG have announced a strategic partnership aimed at increasing transparency in private markets. The collaboration will leverage MSCI’s data and analytics capabilities alongside UBS’s expertise in alternative investments to enhance MSCI’s AI-powered platform. This platform is designed to address challenges such as fragmented data and limited transparency in private markets.

The partnership aims to create a more connected investment experience across the private markets lifecycle, informed by UBS’s insights from wealth and asset management. UBS, a leading global wealth manager, will be an early adopter of the platform and will work with MSCI to promote broader market standardisation.

Henry Fernandez, CEO of MSCI, stated, “MSCI has long been committed to bringing independence, transparency and innovation to global investors. By combining MSCI and UBS’s respective strengths, we aim to help build the infrastructure that can shape the future of private markets investing.”

Sergio Ermotti, CEO of UBS, added, “This partnership builds on our long-standing relationship with MSCI and our shared ambition to increase transparency in private markets. Our goal is to help shape the next generation of private markets portfolio management solutions.”

The platform will integrate fund discovery, portfolio management, analytics, and benchmarking capabilities, streamlining data management and bridging private and public markets. It will also connect General Partners with institutional and private wealth investors, fostering a comprehensive private markets ecosystem.

This partnership marks a significant step towards transforming private market investments, offering investors improved insights and decision-making capabilities.

VICOM Ltd has announced the opening of a new Electrical and Electronics (E&E) testing facility in Penang, Malaysia, through its joint venture, SETSCO QAV. This strategic move aims to bolster VICOM’s non-vehicle testing business and strengthen its foothold in Malaysia’s burgeoning electronics and high-tech manufacturing sector.

Located in Penang’s industrial hub, the state-of-the-art facility offers a comprehensive range of E&E testing services, including the region’s only third-party commercial Over-the-Air (OTA) facility. The inauguration was attended by Penang Chief Minister YAB Chow Kon Yeow and InvestPenang CEO Dato’ Loo Lee Lian, highlighting the facility’s significance to the local industrial ecosystem.

SETSCO QAV, a collaboration between VICOM’s subsidiary SETSCO Services and Malaysia’s QAV Technologies, is set to provide manufacturers with reliable testing services, faster turnaround times, and access to internationally recognised compliance support. The facility will cater to the increasing demand for product safety and regulatory compliance in the region.

Sim Wing Yew, CEO of VICOM, stated, “This marks an important step in VICOM’s strategy to grow in high-value testing sectors beyond our vehicle inspection business.” The facility is expected to commence operations progressively, welcoming customers and business partners from today.

This expansion aligns with VICOM’s broader strategy to diversify beyond its core vehicle inspection services, positioning the company to better support manufacturers across Malaysia and the wider region.

Lockton Asia has announced the appointment of Martin Allain as Head of Wholesale in its Regional Placement Team. Allain, who returns to the workforce after a brief retirement, will report to Piers Hughes, Head of Placement for Asia, and is set to enhance the firm’s technical capabilities and speciality expertise across the region.

Allain brings a wealth of international experience, having worked in North America, Europe, Australia, and Asia. He began his career with Marsh UK, focusing on North American business, and later became the Head of Marsh’s International Wholesale Operation in London. In 1995, he joined Reinsurance Australia Corporation as Property Underwriting Manager. Since moving to Singapore in 2003, Allain has held senior roles, including Managing Director for Facultative Business for Asia Pacific at THB Singapore and a position with Howden’s wholesale broking team.

His expertise spans a variety of speciality lines, such as Property, Power, Mining, Manufacturing, Multinational Programme Placement, Alternative Risk Transfer and Captives, Construction, Financial Lines, and Marine. Allain also possesses deep technical knowledge in sectors like Mining, Heavy Industry, Downstream Energy, and Power & Utilities.

Piers Hughes expressed enthusiasm about Allain’s appointment, stating, “We are delighted to welcome Martin to the Lockton Asia team. His global experience, technical strength, and on-the-ground understanding of the Asian market will further strengthen our ability to deliver differentiated placement strategies and exceptional results for our clients.”

Based in Singapore, Allain will collaborate with Lockton offices across Asia to enhance market engagement and support speciality placement solutions for clients throughout the region.

A recent report by St. James’s Place Asia, titled “Money on the Move,” reveals that living in Singapore significantly enhances financial prospects for expatriates. The study highlights that 93% of expats feel their financial freedom is accelerated by living abroad, with 83% believing it advances their retirement plans by at least three years.

The report, which surveyed 450 affluent and high-net-worth expats in Singapore, underscores the economic opportunities available in the city-state, despite the complexities of managing wealth across borders. Notably, 57% of respondents indicated that achieving financial freedom would have taken at least five years longer had they not moved overseas.

Oliver Wickham, Asia & Middle East Partnership Director at St. James’s Place, noted, “Living in Singapore is full of economic opportunities, accelerating both earnings potential and financial freedom. Yet expats face challenges on the road to wealth accumulation due to the complexities of managing assets in different countries.”

The study also found that 96% of expats earn more and save more each month compared to their home countries. However, macroeconomic volatility, such as currency fluctuations and global inflation, remains a significant concern for nearly nine in 10 expats.

Financial advice plays a crucial role in managing these challenges, with 89% of respondents believing that earlier financial advice could have improved their investment earnings and savings. Despite this, only 27% of expats consider themselves highly financially literate.

As expats plan for long-term stays in Singapore, with 78% intending to remain for at least eight years, the importance of financial planning and advice becomes increasingly evident. The report suggests that professional financial advice not only aids in wealth accumulation but also provides continuity and confidence for expats navigating international financial landscapes.

Singaporean retail investors are increasingly optimistic about artificial intelligence (AI) stocks, despite ongoing global market volatility, according to eToro’s latest Retail Investor Beat survey. Conducted in Q2 2026, the survey of 1,000 Singapore-based retail investors highlights a shift towards tech investments, with 51% expecting AI stock prices to rise, compared to 44% globally.

The survey indicates that Singapore is ranked third in the global AI race, behind the US and China, with over 26% of local investors believing the city-state is well-positioned to lead. This confidence is further reflected in the tech sector, which has been the top choice for investment for four consecutive quarters, with holdings increasing to 57% in Q2 from 55% in Q1.

Despite geopolitical tensions, particularly in the Middle East, Singaporean investors have shown resilience. Concerns over international conflict as a portfolio risk have decreased from 34% in Q1 to 26% in Q2. This contrasts with a stable global concern level of 23%.

Zavier Wong, eToro market analyst, noted, “The broad confidence in Singapore’s AI standing came as no surprise to us. The talent is here, the capital access is here, and sitting between the two dominant AI powers – US and China – gives Singapore a role hard to replicate anywhere else in the region.”

Investment behaviour remains steady, with 36% of investors increasing their portfolio contributions in Q2, mirroring Q1 figures. Confidence in the Singaporean economy remains robust at 68%, significantly higher than the global confidence level of 35%. As geopolitical uncertainties ease, local investors continue to focus on long-term themes shaping the market.

Texas Instruments Incorporated (TI) has proposed to acquire all shares of Silicon Laboratories Inc (Silicon Labs), and the Competition and Consumer Commission of Singapore (CCS) is now inviting public feedback on this transaction. The CCS is assessing whether this acquisition could lead to a significant reduction in competition within any market in Singapore.

TI, a global semiconductor company listed on the Nasdaq, designs and sells analogue and embedded processing chips worldwide, including in Singapore. Silicon Labs, also Nasdaq-listed, is a US-based fabless semiconductor group specialising in wireless connectivity solutions. Both companies’ operations extend to Singapore.

The proposed acquisition involves several relevant product markets, including wireless connectivity system-on-chips (SoCs), non-wireless microcontroller units, power management integrated circuits, sensors, and universal serial bus bridges. The parties involved argue that the transaction will not result in non-coordinated or coordinated effects due to their modest market presence, the competitive landscape, and the complementary nature of their activities.

The CCS is particularly interested in public opinion on whether the acquisition might lead to vertical or conglomerate effects, although the parties have stated that such outcomes are unlikely. The public consultation period is open until 22 July 2026, with more information available on the CCS website.

NCS has announced the expansion of its SunshineAI suite, introducing new AI platforms and products designed to facilitate enterprise-scale transformation. The announcement, made at the NCS AI Impact 2026 forum, also highlighted the company’s commitment to deepening partnerships across sectors such as healthcare, transport, and education, as well as advancing AI talent development.

The expanded SunshineAI suite includes sovereign-ready AI platforms like Sunshinecore, which allows for the creation of production-grade AI agents, and Sunshinebuilder, an AI-powered application enabling business analysts to build software without coding. Additionally, Sunshinechilliclaw and SunshinecommanderAI provide enterprise-ready AI assistance and a command centre for robotics, respectively. These platforms are designed to offer organisations the tools needed to deploy AI securely and efficiently.

NCS CEO Sam Liew emphasised the importance of redesigning core operations for exponential outcomes, stating, “To deploy AI at scale, organisations need the right partners… This is exactly what we have built NCS to do.”

In healthcare, NCS has partnered with IHH Healthcare to establish a Joint AI Centre of Excellence, aiming to enhance clinical operations and efficiency. In education, collaborations with Ngee Ann Polytechnic focus on deploying AI tutors and integrating AI tools into curricula. The transport sector sees NCS working with South Korea’s Autonomous A2Z to develop autonomous shuttle services.

Furthermore, NCS is collaborating with Alibaba Cloud to accelerate AI adoption across diverse sectors, ensuring secure and scalable solutions. The company is also expanding into Physical AI and health tech, partnering with firms like Fourier Rehab and Hypershell to advance exoskeleton technology.

NCS’s initiatives are supported by the release of the NCS AI Playbook, a guide based on over 100 AI projects, aimed at helping enterprises achieve measurable returns from AI investments.