Industry News

Central Singapore Community Development Council (CDC) and NTUC’s Employment and Employability Institute (e2i) have launched a strategic partnership to enhance employment support and AI learning opportunities for residents in the Central District. This initiative, part of the Jobs Nearby programme, aims to provide residents with job opportunities closer to home and 1,000 complimentary learning spots to improve employability.

The partnership, which runs from July 2026 to December 2027, will host at least 10 Career and Skills Fairs across the district, supported by over 3,000 local job opportunities. The initiative integrates community networks with e2i’s employer partnerships, offering career guidance and skills support through familiar community touchpoints.

Residents will benefit from a dedicated Jobs Nearby portal, featuring over 2,000 job opportunities, and access to e2i’s national employer network. Additionally, Jobs Nearby kiosks and personalised support from e2i career coaches will provide convenient access to career guidance and job matching.

The inaugural Job Fair at Jalan Besar, held on 3 and 4 July, showcased this integrated model, offering job opportunities, career guidance, and digital career tools in one community setting. The fair featured 20 employers across various sectors and introduced AI-powered career tools like NTUC’s AI Career Coach.

Denise Phua, Mayor of Central Singapore District, emphasised the importance of accessible career guidance and skills support, stating, “Finding a job is only one part of the journey. Residents also need career guidance, new skills, and support they can easily access.” Jean Tan, CEO of e2i, highlighted the evolving nature of careers and the need for adaptable employment support.

This partnership builds on e2i’s national efforts, which assisted nearly 60,000 jobseekers in 2025, and aims to support more residents in achieving long-term employability.

Stewardship Asia Centre has officially rebranded as the Steward Leadership Institute (SLI), marking a significant evolution in its mission to cultivate purpose-driven leaders. Announced on 3 July 2026, the change reflects the organisation’s transition from a platform for dialogue to an institute dedicated to equipping leaders with the skills to create lasting value for organisations, society, and the environment.

The rebrand is part of SLI’s strategy to address the challenges of the “naked economy,” where transparency and trust are paramount. CEO Rajeev Peshawaria emphasised the importance of leaders who generate genuine value for all stakeholders, stating, “In this environment, only leaders who create genuine value for all stakeholders, not just shareholders, will earn the trust needed to sustain profitable growth.”

SLI, a unit within the Temasek Trust ecosystem, aims to build a better future for every generation. The new visual identity includes a diamond atop the “I” in the wordmark, symbolising the ascent of individuals and the institute’s commitment to elevating leaders.

All existing programmes, frameworks, and client agreements remain unchanged, ensuring continuity in SLI’s operations. The institute continues to focus on research, education, and advisory services to enable profitable growth whilst addressing environmental and social challenges. As part of the Temasek Trust ecosystem, SLI shares a common purpose with the philanthropic arm of Singapore-based global investor Temasek Holdings.

In a bid to address the evolving landscape of the finance profession, ACCA (the Association of Chartered Certified Accountants) and NTUC’s e2i (Employment and Employability Institute) are launching the 2026 Talent Activation Hub on 10 July at NTUC Centre. This initiative aims to connect finance professionals with 17 employers, including Deloitte, Ernst & Young, and PricewaterhouseCoopers offering job opportunities and career guidance amidst the rise of artificial intelligence (AI).

The Talent Activation Hub is a response to the findings of ACCA’s Global Talent Trends 2026 report, which revealed that whilst 81% of Singapore’s finance professionals are confident in learning AI skills, 48% are concerned about AI’s impact on their roles. The event will feature five sessions discussing AI’s influence on finance roles, national upskilling strategies, and real career journeys from industry experts.

Daniel Leung, Country Manager of ACCA Singapore, stated, “Technology is changing how finance professionals work, but it is also creating new opportunities for those willing to adapt and develop new skills.” Jean Tan, CEO of NTUC’s e2i, added, “Through our partnership with ACCA, NTUC’s e2i is creating opportunities for accountancy and tax professionals to gain employability insights.”

The event aligns with Singapore’s 2026 Budget, which prioritises AI capability-building, particularly in the accountancy sector. Attendees can also benefit from a complimentary LinkedIn photoshoot and participate in ACCA’s Virtual Career Fair on 23 July. Registration is open online, with walk-ins welcome on the day.

Singapore’s investment market is on track to exceed pre-pandemic levels, according to Cushman & Wakefield’s latest Singapore Market Outlook H2 2026 report. The report highlights that investment volumes reached $35.2b in the first half of 2026, approaching the $36.8b record set in 2017. This growth is attributed to Singapore’s resilient economic outlook, with GDP growth forecasted at 2.0–4.0% for 2026.

Commercial assets have been a significant driver, accounting for 50.7% of total investment volumes in H1 2026. The demand for quality office and retail assets remains strong amidst constrained supply. Wong Xian Yang, Head of Research at Cushman & Wakefield, noted, “The first half of 2026 exceeded expectations for Singapore’s real estate market, with improving capital market conditions reinforcing resilient occupier demand across multiple sectors.”

The report also indicates continued momentum in the industrial, retail, and private residential sectors, supported by easing financing costs and Singapore’s appeal as a safe-haven investment destination. Shaun Poh, Executive Director at Cushman & Wakefield, stated, “We continue to see sustained interest from both domestic and international investors targeting well-located commercial assets.”

Looking ahead, the outlook for H2 2026 is positive, particularly for industrial, retail, and private residential sectors. Despite global geopolitical uncertainties, Singapore’s market remains stable, with low interest rates and a strong investment environment. Natalie Craig, Chief Executive at Cushman & Wakefield, remarked, “As we enter H2 2026, investors’ appetite remains strong but cautious, driven by low interest rates which remain conducive for capital markets.”

PingPong Payments has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Capital Markets Services (CMS) licence. This approval will enable PingPong, through its subsidiary Mana Markets SG Pte Ltd, to offer over-the-counter foreign exchange (FX) derivatives products to eligible clients in Singapore. The licence will allow these clients to hedge against FX volatility, complementing PingPong’s existing payment services offered by its licensed Major Payment Institution, Mana Payment Singapore Pte Ltd.

The approval marks a significant step for PingPong in expanding its services across Singapore and Southeast Asia. Shu Jianqin, CEO of PingPong Asia Pacific and Group Partner, highlighted Singapore’s strategic importance, stating, “Singapore’s world-class regulatory framework, robust institutional ecosystem, and role as a global financial hub make it both a strategic home for our expansion and a powerful base for the clients we serve.”

Since its founding in New York in 2015, PingPong has developed a comprehensive financial payment infrastructure for global commerce. The company boasts real-time processing, transparent pricing, and regulatory coverage across 60 licences, facilitating secure global growth. With 40 offices worldwide and 1,700 employees, PingPong has processed over $410 billion for enterprises and startups expanding internationally.

The in-principle approval indicates that a licence may be issued upon fulfilling specified conditions, although it does not currently permit the company to provide brokerage services. MAS reserves the right to rescind the approval if necessary.

Fortinet, a global leader in cybersecurity, has announced the appointment of Luca Simonelli as Senior Vice President for the Asia Pacific region. Based in Singapore, Simonelli will oversee Fortinet’s operations across Japan, North Asia, South Asia, Southeast Asia, India, SAARC, Australia, and New Zealand. His role will involve driving regional strategy, strengthening customer and partner relationships, and accelerating the company’s growth in the region.

Simonelli brings over 30 years of international technology leadership experience, having previously held senior roles in cybersecurity, networking, and managed services industries. Notably, he spent nearly eight years at Fortinet, leading the company’s business in Europe, the Middle East, and Africa. His most recent position was with GCX Managed Services.

Joe Sarno, Executive Vice President of International Sales at Fortinet, highlighted the significance of the Asia Pacific market, stating, “Asia Pacific continues to be one of the most dynamic cybersecurity markets globally as organisations accelerate digital transformation, adopt AI, and modernise critical infrastructure.” He added that Simonelli’s expertise would further strengthen Fortinet’s leadership in the region.

Simonelli expressed his enthusiasm about rejoining Fortinet, saying, “Fortinet has built one of the industry’s most comprehensive and integrated cybersecurity platforms, bringing together networking, security, and AI to help organisations reduce complexity whilst strengthening cyber resilience.”

Fortinet’s commitment to enhancing cyber resilience is supported by its extensive portfolio of over 50 enterprise-grade products and its collaboration with public and private sector organisations globally.

Healthway Medical Group, a prominent healthcare provider in Singapore, has announced its plan to acquire Bridgepoint Health, a move aimed at bolstering its primary care network. This strategic acquisition will integrate 16 clinics across the island into Healthway’s existing framework, significantly enhancing its capacity to deliver accessible and coordinated patient-centred care.

The expansion will bring together a team of 75 healthcare professionals, fostering improved clinical collaboration and operational excellence. With this acquisition, Healthway Medical Group anticipates serving over 1.3 million patient visits annually across its clinics and medical centres.

Chief Executive Officer of Healthway Medical Group, Abram Suhardiman, expressed enthusiasm about the acquisition, stating, “We are pleased to welcome Bridgepoint Health into the Group. The deep trust and strong relationships they have established within local communities are incredibly valuable as Singapore’s healthcare landscape continues to move towards more preventive, multi-disciplinary and community-based care.”

Michael Coleman, CEO of Bridgepoint Health, echoed this sentiment, highlighting the alignment of the two organisations’ missions. “Bridgepoint Health’s mission and model of care is rooted in relationships, prevention, and long-term trust with the communities we serve. This transition not only aligns, it positions us for the future — to grow sustainably, to scale responsibly, and to deepen the impact we can make in primary care,” he said.

The acquisition remains subject to customary closing conditions, marking a significant step in Healthway Medical Group’s ongoing efforts to enhance its integrated healthcare ecosystem.

Huttons Asia has revealed insights into the Town Hall Link Government Land Sales (GLS) site, which is expected to draw significant interest from developers. The site, offering approximately 1,200 residential units and 83,200 square metres of commercial space, is anticipated to attract bids exceeding $1b.

The Town Hall Link site, classified as a “white site,” includes a substantial office component, which may lead to higher holding costs and risks for developers. Mark Yip, CEO of Huttons Asia, noted that developers might form consortiums to bid for the site, with potential bids reaching as high as $2b. The office component is expected to attract a few bids due to its scale and potential.

In comparison, other upcoming mega GLS sites in the Outside Central Region (OCR), such as Bayshore Drive and New Upper Changi Road, also offer over 1,000 units. Bayshore Drive, an integrated transport hub, and New Upper Changi Road, a purely residential site, may appeal to developers seeking different project profiles.

The supply of office space is projected to peak in 2028, with a subsequent reduction over the following three years. Town Hall Link’s office space could appeal to occupiers seeking Grade A premium offices, potentially creating thousands of jobs and boosting residential demand in the area. This development is seen as a positive step for the growth of the Jurong Lake District.

Seatrium Limited has successfully exported electricity to Singapore’s national grid from its Floating Living Lab (FLL), a world-first remote-controlled floating Distributed Energy Resource (DER) platform. This significant achievement was witnessed by Dr Tan See Leng, Minister for Manpower and Minister-in-charge of Energy and Science & Technology, marking a pivotal moment in the development of scalable offshore energy infrastructure.

The FLL, classed by the American Bureau of Shipping and supported by a Remote Operations Centre, integrates distributed energy resources into floating power assets. It combines a stacked battery energy storage system and gas bunkering infrastructure, allowing it to meet Seatrium’s operational energy needs whilst exporting surplus electricity to the grid. This surplus can power approximately 1,500 four-room HDB households monthly, highlighting its potential as a scalable energy solution.

Lee Wey Lii, Senior Vice President of Seatrium Digital, stated, “The FLL brings together Seatrium’s deep capabilities across digital, engineering, and energy systems to reimagine offshore energy for a more connected, resilient, and lower-carbon future.”

The Energy Market Authority’s Violet Chen emphasised the importance of such innovations, noting that storage solutions like the FLL are crucial for maintaining grid stability as Singapore incorporates more renewable energy.

Seatrium’s achievement underscores its leadership in offshore energy and its commitment to advancing digitally-enabled energy solutions. Looking forward, the company plans to expand its capabilities for nearshore electrification solutions, supporting the transition to a more sustainable energy landscape.

Elite UK REIT Management Pte. Ltd. has announced the divestment of four properties in Wales for £6m. The properties, managed by Elite Gemstones Properties Limited and Elite Amphora Limited, are located in Swansea, Neath, and Port Talbot, and are currently occupied by the Department for Work and Pensions. The properties were valued at £5.3m prior to the sale.

The transaction, involving an unrelated third-party purchaser, is part of Elite UK REIT’s strategy to recycle net proceeds into high-quality or high-growth opportunities. Despite the sale, the divestment is not anticipated to significantly impact the net asset value of Elite UK REIT for the financial year ending 31 December 2026.

Joshua Liaw, CEO of Elite UK REIT, stated that the divestment aligns with the company’s ongoing efforts to optimise its portfolio and invest in promising opportunities. The decision reflects a strategic move to enhance the trust’s asset allocation and maximise returns for its stakeholders.

This divestment marks a significant step in Elite UK REIT’s portfolio management, as it seeks to capitalise on market opportunities and strengthen its financial position. The company remains committed to exploring further investment prospects that align with its growth objectives.