Industry News

Trip.com Group has reported a significant 45% increase in bookings for short holidays among Singaporeans in the first quarter of 2026. This surge is primarily driven by working adults aged 25 to 49, who are taking advantage of the upcoming seven long weekends to plan quick overseas escapes. Popular destinations include Bangkok, Kuala Lumpur, Penang, Hong Kong, and Guangzhou, which are favoured for their accessibility and convenience.

The trend towards short holidays is further fuelled by live entertainment events. Notably, the Mayday #5525 Live Tour in Kuala Lumpur on 31 January is among the top attractions booked by Singaporean travellers. Other popular attractions include Hong Kong Disneyland, Shanghai Disney Resort, and The Palace Museum in Beijing.

Trip.com Group’s Trip.Planner tool is aiding travellers in organising their long weekend trips by offering personalised itineraries that cater to individual travel styles. The tool provides recommendations for flights, hotels, and attractions, making it easier for users to plan their trips efficiently.

As Singaporeans continue to seek quick getaways, the travel industry anticipates a busy year ahead, with the long weekends providing ample opportunities for short holidays. This trend highlights a growing preference for brief, yet fulfilling travel experiences among Singaporeans.

Trust Bank has announced its new service, becoming the first banking app in Singapore to offer fractional trading for US stocks and exchange-traded funds. This innovative feature allows users to purchase portions of shares, making stock market investment more accessible to a broader audience.

The bank has partnered with Saxo Singapore to give access to over 7,000 US stocks and exchange-traded funds (ETFs) through the Trust App.

Trust Bank is offering zero commission on trades until 30 June 2026. Customers can win free fractional stock worth up to US$500 when they make their first trade of at least US$1,000.

Trust Bank’s move aligns with a growing trend of financial institutions leveraging technology to enhance customer experience and broaden investment opportunities. The app’s new feature is expected to attract a diverse range of investors, from novices to seasoned traders, by offering flexibility and affordability.

Despite a robust economic performance in Singapore during Q4 2025, the commercial shophouse market experienced a slowdown, according to PropNex Research’s latest report. The quarter saw 22 shophouse transactions, marking a 21.4% decline from the previous quarter’s 28 deals. Year-on-year, sales dropped by 12% from 25 transactions in Q4 2024. The total value of these transactions amounted to $158.3m, a 27.6% decrease from Q3 2025.

District 8, encompassing Little India, emerged as the top performer in Q4 2025, with seven deals totalling $46.3m. For the entire year, District 8 recorded 24 transactions worth $183m, representing over a quarter of the year’s total sales value. The report highlighted that more than half of the shophouse deals in Q4 2025 were priced above $5m.

Leasing activity also saw a downturn, with 775 rental contracts signed in Q4 2025, a 5.5% decrease from the previous quarter. The value of these contracts was $8.25 million, down 4.1% quarter-on-quarter. The median monthly rental rate was $6.50 per square foot, a slight decrease from the peak in Q2 2024.

Looking ahead, PropNex anticipates potential growth in the shophouse sector in 2026, driven by Singapore’s appeal as a safe haven and a favourable economic outlook. However, challenges such as muted rental growth and geopolitical uncertainties may pose risks.

Maybank has announced its ambitious five-year strategy, ROAR30, aimed at reinforcing its purpose of Humanising Financial Services and achieving a return on equity (ROE) of 13-14% by 2030. The strategy, unveiled on 20 January 2026, focuses on three strategic pillars: values-based offerings, scaling businesses, and strengthening foundations.

The first pillar centres on delivering exceptional customer experiences, positively impacting society, and supporting the real economy. Maybank plans to leverage digital platforms and next-generation apps to enhance customer engagement. The bank is committed to mobilising RM300b in sustainable finance over the next five years and achieving carbon neutrality by 2030.

The second pillar involves expanding four key business areas: global Islamic finance, regional wealth management, regional transactions and payments, and regional corporate and investment banking. Maybank aims to capitalise on ASEAN’s growing prominence and the increasing demand for Islamic finance.

The third pillar focuses on building a sustainable foundation by enhancing workforce capabilities, embracing technology, and optimising productivity. Maybank President and Group CEO, Dato’ Sri Khairussaleh Ramli, highlighted the importance of ROAR30 in driving growth and profitability across Maybank’s home markets of Malaysia, Indonesia, and Singapore.

ROAR30 aims to deliver a net interest margin of over 2.05%, a cost-to-income ratio of 47% or less, and a CASA ratio exceeding 41%. The strategy is designed to ensure meaningful impact and sustainable value creation for all stakeholders, including customers, communities, and economies served by Maybank.

Henkel, a global leader in industrial and consumer goods, has consolidated its operations at the Singapore Science Park, establishing a new innovation hub. This strategic move brings together Henkel’s Global Supply Chain Hub, Adhesive Operations Digital team, and the Academy of Hair under one roof, enhancing its service capabilities across Asia-Pacific and beyond.

The new facility, located at Geneo, Singapore Science Park, features an expanded Adhesives Application Engineering Laboratory. This lab supports customers in sectors such as general manufacturing, maintenance, and electronics. Mark Dorn, Executive Vice President of Adhesive Technologies, stated, “The opening of our new Singapore office underscores Henkel’s commitment to building a strong, future-ready foundation in Asia Pacific.”

Henkel’s hub is set to play a pivotal role in the company’s global operations. Thomas Holenia, President of Henkel Singapore, noted that the hub will act as a “critical control tower” for Henkel’s businesses, integrating supply chain, innovation, and digital capabilities to better serve customers and accelerate market solutions.

The facility also houses the Henkel SEA Electronic Adhesives Technical Centre, which supports key growth segments like semiconductors and consumer electronics across Southeast Asia. The centre has consistently grown year-on-year, offering advanced capabilities such as material characterisation and failure analysis.

Additionally, the Academy of Hair provides a platform for professional learning in the hair industry, offering courses in colouring, cutting, and salon management. This initiative aims to empower professionals and foster a connection with the wider hair community.

Henkel’s move to Singapore Science Park marks a significant step in its 40-year presence in Singapore, reinforcing its commitment to innovation and sustainable solutions in the region.

ST Telemedia Global Data Centres (STT GDC) has launched Southeast Asia’s first High Voltage Direct Current (HVDC)-powered AI infrastructure testbed, the FutureGrid Accelerator, at Nanyang Technological University (NTU) Singapore’s Electrification and Power Grids Centre. This initiative, officiated by Minister of State for Foreign Affairs and Trade & Industry, Gan Siow Huang, marks a significant step in Singapore’s digital and energy transition efforts.

The FutureGrid Accelerator, developed in collaboration with LITEON and supported by NTU’s Energy Research Institute and deep-tech spinoff Amperesand, aims to demonstrate HVDC integration with AI workloads. This technology promises up to 30% energy savings compared to traditional systems and a reduction of up to 400 tonnes of CO2 equivalent per megawatt annually. It also supports ultra-high-density racks and is compatible with renewable energy sources.

In addition to the testbed, STT GDC has signed Memoranda of Understanding with four Institutes of Higher Learning, including the Institute of Technical Education and Singapore Polytechnic, to enhance skills development in AI and sustainable energy systems. These partnerships are expected to benefit over 8,000 Singaporeans in the next five years through training and internships.

Bruno Lopez, President and CEO of STT GDC, stated, “The FutureGrid Accelerator is a strategic investment in Singapore’s long-term digital leadership.” This initiative is set to reinforce Singapore’s position as a global hub for advanced sustainable digital infrastructure and energy transition.

Rex International Holding Limited has announced a strategic move to raise S$7.6m through the placement of new and treasury shares, alongside the issuance of free detachable unlisted warrants. The company entered into agreements with Eagle Harbor Multi-Strategy Master Fund Limited and BB Special Opportunities Fund Ltd on 26 January 2026 to facilitate these investments.

The company plans to issue 40,082,930 new ordinary shares and place 13,187,000 treasury shares at S$0.143 per share. This placement price reflects an 8.917% discount to the volume-weighted average price of S$0.157 on the Singapore Exchange (SGX) as of the agreement date. Additionally, Rex will issue 53,269,930 warrants, allowing investors to subscribe for new shares at an exercise price of S$0.177, a 12.74% premium over the average trading price.

The funds raised will be split between Eagle Harbor, contributing S$4.4m and BB, providing S$3.2m. The company will apply for the listing of these shares and warrants on the SGX Mainboard. The placement is non-underwritten, and SF Partners Limited, an independent introducer, facilitated the investor introductions, earning a 3% fee on the gross investment value.

The issuance will not alter the controlling interest in Rex International. The shares and warrants will be issued under a general mandate approved by shareholders in April 2025, allowing the company to issue up to 20% of its shares on a non-pro-rata basis. The completion of these investments is contingent upon regulatory approvals and other conditions being met by 31 March 2026.

Singapore’s Lien Foundation and Tan Tock Seng Hospital have launched the Lien Collaborative for Palliative Care in Beijing, a three-year initiative designed to enhance palliative care capabilities in the Chinese capital. This programme seeks to address the challenges posed by ageing populations and the increasing demand for patient-centred care in both countries.

The initiative aims to train more than 1,000 Chinese healthcare professionals and improve palliative care delivery across at least eight institutions in Beijing. It supports China’s national efforts to expand palliative care by tackling issues such as the shortage of trained specialists and the lack of public awareness.

Key components of the programme include the development of online teaching modules for medical professionals, biannual Train-the-Trainer workshops, and fortnightly Online Complex Case Conferences. Additionally, a four-week Clinical Observership Programme in Singapore will offer selected Chinese doctors clinical training and exposure to Singapore’s palliative care ecosystem. The programme will also produce public advocacy videos to encourage end-of-life discussions.

Participating institutions in Beijing include Peking Union Medical College Hospital, Beijing Haidian Hospital, and Sereniturn Palliative Care. These institutions will collaborate to develop treatment protocols and practice guidelines tailored for China.

The initiative also provides an opportunity for Singaporean doctors to learn from Chinese experts about Traditional Chinese Medicine and humanistic care models for end-of-life treatment. This exchange of knowledge is expected to foster long-term policy and ecosystem reform in palliative care.

SC Capital Partners, a prominent Asia Pacific real estate investment manager, has initiated construction of a significant Grade A industrial park in Ras Al Khaimah, United Arab Emirates. This development marks the firm’s first project under the SC GCC Real Estate Industrial Development Fund (GRID), co-sponsored with CapitaLand Investment Limited. The industrial park, located in the Ras Al Khaimah Economic Zone, spans approximately 300,000 square metres and incorporates sustainability features such as water-saving systems.

The project aims to meet the growing demand from high-tech manufacturers and logistics firms for modern, high-specification facilities in the UAE. Interest from potential tenants has already surpassed the planned gross floor area, highlighting the demand for institutional-quality industrial assets in the region. Suchad Chiaranussati, Chairman and Founder of SC Capital Partners, stated, “Breaking ground on this project is a tangible demonstration of our ability to convert strategy into execution in the GCC.”

SC Capital Partners has also appointed Yazan Masri as Managing Director, Investments (Middle East). Based in Abu Dhabi, Masri will lead the firm’s investment and business development activities across the Middle East. He brings over 20 years of experience in real estate private equity and principal investing, having held senior roles at Abu Dhabi Capital Group and Al Mal Capital PSC.

Masri expressed enthusiasm about his new role, saying, “I am pleased to join SC Capital Partners as it breaks ground on its first GCC industrial park.” His appointment is expected to strengthen SC Capital Partners’ leadership as it expands its Middle East platform and investments in GRID and other regional strategies.

Singapore’s inflation rate is expected to rise to 1.5% in 2026, according to RHB Bank’s latest Global Economics and Market Strategy Report. The forecast, attributed to Barnabas Gan, Group Chief Economist and Head of Market Research at RHB Bank, highlights three key factors influencing this trajectory: favourable economic conditions, private consumption support, and global commodity price fluctuations.

Currently, both headline and core Consumer Price Index (CPI) figures remain steady at 1.2% year-on-year, consistent with RHB’s and Bloomberg’s estimates. This stability follows an average headline and core inflation rate of 0.9% and 0.7%, respectively, in 2025.

The report underscores the importance of monitoring global commodity prices, which could impact inflation rates. As Singapore navigates these economic factors, the forecasted inflation rate reflects a balance between domestic economic strength and external influences.

Looking ahead, RHB Bank’s analysis suggests that Singapore’s inflation will remain manageable, with economic conditions and consumption patterns playing pivotal roles. The bank’s previous report, released on 16 January, expressed optimism about export prospects in 2026, further supporting a stable economic outlook.