Industry News

Singapore’s industrial property market saw a notable increase in prices during the first quarter of 2026, according to Knight Frank Singapore’s latest commentary on JTC Industrial Statistics. The all-industrial price index rose by 1.2% quarter-on-quarter, significantly outpacing the 0.4% growth in the rental index. This trend is attributed to a series of high-value transactions, including the public listing of UI Boustead REIT and several major acquisitions by CapitaLand Ascendas REIT and Standard Chartered Bank.

The industrial sector’s performance is underpinned by Singapore’s overall economic growth of 4.6% year-on-year, with the manufacturing sector expanding by 5.0%. However, the ongoing Middle East conflict is expected to impact economic activity in the coming months. Despite these challenges, the low interest rate environment is likely to encourage selective investments, with Knight Frank predicting a 3% to 5% increase in industrial property prices for the year.

In the leasing market, occupiers are focusing on business continuity amid volatile energy prices. The biomedical manufacturing sector, a key pillar of Singapore’s economy, is undergoing a recalibration with recent plant closures by BioNTech and MSD. However, significant investments in AI infrastructure and data centres, such as those by Bridge Data Centres and Singtel’s Nxera, highlight continued confidence in the sector.

Knight Frank anticipates industrial rental levels to remain stable, with moderate growth of 1% to 3% expected for 2026. The firm’s Head of Occupier Strategy and Solutions, Tridiana Ong, noted that businesses are reassessing their operational strategies in response to rising energy costs, potentially increasing interest in business park spaces.

MetaOptics Ltd, a Singapore-based semiconductor optics company, has reached a significant milestone by securing design evaluation orders for its metalenses and modules from prominent global customers. This development marks a shift from initial interest to active engagement in metalens technology, as highlighted in the company’s 2025 annual report.

The company has been qualified as a direct supplier to a major South Korean consumer electronics firm following a comprehensive testing and evaluation process. MetaOptics has completed the metalens design optimisation phase, with the customer currently reviewing system parameters and specifications. The company’s engineers are collaborating closely with the customer to integrate into the product launch cycle.

Additionally, MetaOptics has submitted a proposal to a leading European engineering and technology company for metalens-powered particle sensing solutions. These customised metalenses, with a diameter of less than 1mm, are set to be manufactured using the company’s advanced 12-inch DUV immersion photolithography process.

In Europe, MetaOptics is in discussions with a semiconductor foundry to potentially deploy its automatic metalens tester, aiming to bolster the region’s semiconductor ecosystem. The company has also sold a sample of its monochrome wide-angle IoT infrared metalens camera development kit to a South Korean vehicle intelligence sensing company.

Executive Chairman Thng Chong Kim expressed commitment to further commercialising metalenses and expanding international networks, supported by shareholder backing for a proposed Nasdaq dual listing. MetaOptics continues to explore opportunities to enhance its presence in high-growth sectors.

The Maritime and Port Authority of Singapore (MPA) and PSA Singapore have issued an Expression of Interest (EOI) to develop and test autonomous intergateway container feeder vessels. This initiative aims to modernise port operations by enhancing efficiency, safety, and reliability as vessel traffic increases.

Intergateway container feeder vessels are crucial for moving containers between terminals within the Port of Singapore, such as Tuas and Pasir Panjang. The EOI seeks to explore autonomous technologies, assessing their readiness and feasibility in a rigorous operational environment. This exploration is expected to yield benefits in productivity, safety, and sustainability, whilst also creating new career opportunities in fields like remote vessel monitoring and maritime data analytics.

The EOI includes plans for a remote operations centre to integrate vessel sensor data and port traffic information, enabling real-time monitoring and intervention. Proposals must address key considerations such as navigational safety, interaction with manned vessels, and cybersecurity. They should also outline operational limits, technological readiness, and risk mitigation strategies, alongside viable business models that meet PSA’s operational requirements.

Interested parties are invited to submit proposals by 24 July 2026. This initiative is part of Singapore’s broader efforts to advance port automation and prepare for a multifuel future, as highlighted by Senior Minister of State for Law and Transport, Murali Pillai, during the Singapore Maritime Week 2026 Conference.

The Maritime and Port Authority of Singapore (MPA) and Shanghai Maritime University (SMU) have renewed their partnership by signing a Memorandum of Understanding (MOU) to enhance maritime talent development and knowledge exchange. The agreement, signed by Ang Wee Keong, Chief Executive of MPA, and Professor Chu Beiping, President of SMU, aims to bolster cooperation in areas such as maritime safety, digitalisation, and decarbonisation.

Initiated in 2020, the partnership has facilitated exchanges of students and maritime professionals, alongside participation in high-level seminars and knowledge-sharing platforms. These initiatives provide participants with insights into maritime developments in both countries. Since 2023, the collaboration has expanded to include mutual participation in maritime leadership programmes and contributions to forums shaping maritime policy across China and ASEAN.

The renewed MOU will continue to support information sharing and exchanges between academia and maritime professionals. This includes study visits, learning journeys, and joint training programmes focusing on maritime safety and security, maritime energy, port management, navigational technologies, and marine environmental management.

Ang Wee Keong emphasised the value of the partnership, stating, “Our collaboration allows both sides to learn from each other’s experience and strengthens our capabilities in these areas.” Professor Chu Beiping highlighted the importance of international exchanges amidst global maritime industry transformations, expressing eagerness to expand collaboration in key maritime areas.

The partnership underscores a shared commitment to advancing maritime education and fostering international exchange, creating more opportunities for mutual learning between maritime professionals and students from both countries.

MetaComp, a leader in unified Web2.5 digital financial solutions in Asia, has announced its strategic move to utilise Solana as the primary blockchain for its core business operations. This decision, revealed at the Money20/20 event, aims to bolster MetaComp’s capabilities in cross-border payments, treasury management, and real-world asset tokenisation across Asia-Pacific, the Middle East and Africa, and Latin America.

MetaComp plans to integrate Solana into its StableX Network to enhance cross-border payment efficiency. Solana’s high throughput and low transaction costs make it ideal for MetaComp’s US$15b annualised processed volume. The StableX Engine will leverage Solana’s capabilities to optimise settlement pathways, ensuring faster and cost-effective transactions.

In treasury management, MetaComp will expand on-chain treasury yield opportunities through its affiliate, Alpha Ladder Finance. This will allow clients to invest idle capital into yield-bearing products within the Solana ecosystem, enhancing the efficiency of treasury operations traditionally managed through fixed income channels.

Additionally, MetaComp will advance the development of real-world asset tokenisation on Solana, enabling issuers to access global liquidity pools and raise capital compliantly. Solana’s market capitalisation for real-world assets reached USD 2 billion by early 2026, surpassing Ethereum in total holders.

Dr. Bo Bai, Chairman and Co-founder of MetaComp, stated, “Leveraging Solana will bring faster, cheaper, and more accessible financial services to the markets that need them most.” Lu Yin, Head of APAC at Solana Foundation, added, “MetaComp’s expertise combined with Solana’s scalability creates a powerful foundation for financial services across emerging economies.”

This collaboration marks a significant expansion phase for MetaComp, following its recent funding rounds and the launch of its Web2.5 VisionX Engine.

The Ascott Limited, a wholly owned lodging business unit of CapitaLand Investment, has announced a significant investment in AI-ready infrastructure to lead in agentic commerce. This strategic move involves collaborations with Accenture, Amadeus, and EHL Hospitality Business School to enhance digital architecture, distribution, and workforce capabilities.

Ascott’s collaboration with Accenture aims to transform its chatbot, Cubby, into a personal travel agent capable of planning itineraries and completing bookings. Amadeus will provide a Central Reservations System, allowing Ascott to offer detailed property attributes to guests and AI agents. EHL will focus on training programmes to equip Ascott’s workforce with the necessary skills to maintain brand standards and service philosophy.

Kevin Goh, CEO of Ascott, emphasised the importance of this initiative, stating, “Distribution shifts, labour pressures, and rising guest expectations are reshaping hospitality. AI can power our operations, but only our people can exercise the judgement that turns a stay into a memory.”

The investment is part of Ascott’s broader strategy to improve guest interactions and enhance property discoverability in an AI-led travel environment. With over 1,000 properties across 14 brands in more than 230 cities, Ascott aims to leverage AI to deliver personalised guest experiences and improve operational efficiency. As the company continues to innovate, it anticipates stronger booking values and improved AI visibility, positioning itself as a leader in the evolving travel landscape.

Ant International has announced a significant upgrade to its global wallet gateway, Alipay+, by integrating privacy enhancing technologies (PETs) across all critical operations. This development marks Alipay+ as the first digital payment solution to fully implement PETs in a live setting, offering enhanced data privacy for its 1.8 billion e-wallet users.

The application of PETs ensures that all data processed by Alipay+ is encrypted and remains unidentifiable throughout the payment process. This advancement supports compliance with data privacy regulations, maintains the continuity of cross-border transaction services, and reduces the risk associated with transmitting sensitive information. “Trust in our systems is integral to our ability to deliver secure and efficient digital services to users globally,” stated Jiang-Ming Yang, Chief Innovation Officer of Ant International.

Alipay+ partners are encouraged to adopt PETs, with Ant International planning to open source the PETs codebase in phases. This move aims to provide partners with full visibility and control over their data privacy implementations.

In collaboration with Singapore’s Personal Data Protection Commission (PDPC), Ant International has also developed a proof-of-concept for PETs-enabled AI prediction model training. This initiative demonstrates the company’s commitment to ensuring that emerging technologies are developed with trust and compliance at their core.

Ant International continues to support initiatives like the Infocomm Media Development Authority’s (IMDA) PET Sandbox, encouraging companies to explore new data opportunities without compromising sensitive information. The company is also partnering with Nanyang Technological University, Singapore, to advance research in trust technologies, further solidifying its role in pioneering secure digital payment solutions.

Kennedys has announced the appointment of Trevor Ho as a Partner in its Singapore office, effective April 2026. Ho, a specialist in Financial Lines, brings over 20 years of experience to the firm, having previously served as a Partner at Colin Biggers & Paisley. His expertise includes advising insurers on complex financial lines coverage issues and dispute resolution.

Anita Quy, Joint Managing Partner for Kennedys in Singapore, highlighted that Ho’s appointment aligns with the firm’s strategy of targeted growth driven by client demand in the Asia Pacific region. Ho expressed enthusiasm about his move to Singapore, stating, “I’m delighted to join a global specialist insurance law firm of Kennedys’ stature.”

Ho’s legal experience spans professional negligence, financial services compliance, and contractual disputes, among others. He has also assisted underwriters with policy drafting and interpretation. His addition to the team is expected to bolster Kennedys’ capabilities in delivering value to its clients across various insurance lines.

Kennedys has been operating in Singapore since 2008 and established a joint law venture with Legal Solutions in 2015, enhancing its service offerings. The firm has grown to over 80 lawyers and business service professionals in Singapore, including 11 partners. Recent expansions include the addition of marine and trade credit insurance specialist Iain Anderson.

The appointment of Ho underscores Kennedys’ commitment to strengthening its presence in the Asia Pacific region, particularly in financial lines, property, energy, and construction sectors.

The Singapore Institute of Technology (SIT) and DNV have announced a collaboration to develop a Master of Science in Vessel Management, with the Singapore Maritime Foundation (SMF) facilitating industry engagement. This initiative, unveiled during Singapore Maritime Week, aims to bolster Singapore’s maritime talent pipeline and reinforce its status as a leading international maritime centre.

The programme is tailored for engineering and naval architecture graduates, as well as maritime professionals seeking to transition into technical superintendent roles. It focuses on providing alternative pathways for those with technical or seafaring backgrounds to move into shore-based vessel management positions. The curriculum is designed to address the evolving needs of the maritime industry, particularly in light of digitalisation and the shift towards low and zero carbon fuels.

Dr Shahrin Osman, Business Development Director at DNV Maritime Advisory in Singapore, highlighted the programme’s relevance, stating, “Digitalisation and the transition to low and zero carbon fuels are reshaping the expectations of the maritime workforce. Through this programme, DNV and SIT aim to equip new entrants with the applied knowledge and practical competence needed as the industry transitions towards more digital and lower carbon operations.”

Professor Susanna Leong, Deputy President (Academic) & Provost at SIT, emphasised the university’s commitment to developing industry-ready talent, noting that the programme will help manage complex vessel operations and drive sustainable maritime practices.

The Master of Science in Vessel Management is set to commence in early 2027, offering a flexible, competency-based model that combines SIT’s applied learning with DNV’s industry expertise. This initiative is expected to enhance the supply of skilled superintendents within the Maritime Singapore ecosystem.

A new report by Delinea reveals that 95% of Singaporean organisations are under pressure to relax identity security measures to accommodate AI initiatives. This comes despite significant gaps in visibility and governance, as highlighted in the report titled “Uncovering the Hidden Risks of the AI Race.”

The report, based on a global survey of over 2,000 IT decision-makers, indicates a growing risk landscape as AI-driven automation increases the number of identities, particularly non-human identities (NHIs), within enterprise environments. In Singapore, 93% of respondents reported at least one identity visibility gap, with machine identities being the most affected.

Art Gilliland, CEO of Delinea, commented, “The pressure to move fast on AI is real, but identity governance has not kept pace, which exposes enterprises to significant risk.” The report also highlights that 86% of Singaporean organisations struggle to explain why an AI or machine identity performed a privileged action, underscoring challenges in traceability and accountability.

Despite these governance gaps, 87% of Singaporean respondents believe they are ready for AI adoption. However, 47% acknowledge deficiencies in their identity governance systems. This discrepancy points to an “AI security confidence paradox,” where perceived readiness does not match actual capabilities.

As AI agents increasingly access critical infrastructure and data, Delinea emphasises the need for robust identity discovery, privilege management, and activity auditing across human and machine identities. The company advocates for a unified approach to ensure secure AI-driven automation.