Industry News

Singapore’s Energy Market Authority (EMA) has launched a Demand-Side Flexibility Roadmap to bolster the reliability of the nation’s power grid as it transitions towards net-zero emissions by 2050. The roadmap outlines strategies to harness demand-side resources, enabling electricity users to adjust their consumption in response to the power system’s needs.

The roadmap is part of Singapore’s broader effort to diversify its electricity fuel mix, currently dominated by natural gas, by incorporating more solar energy and electricity imports. EMA envisions that distributed energy resources, such as smart electric vehicle (EV) chargers and battery energy storage systems (BESS), will play a crucial role in this transition.

EMA’s Interruptible Load (IL) Programme will see enhancements, including reducing each IL activation period to 30 minutes, providing business consumers with greater certainty over their obligations. This programme allows participants to adjust their electricity demand during imbalances, supporting grid reliability.

The roadmap also highlights the potential of distributed energy resources and high-availability loads to contribute to system reserves. EMA plans to issue a Request for Information to explore incentivising these resources to support system reliability continuously.

Additionally, EMA’s Demand Response (DR) programme has been expanded to include EV charging stations and BESS with a nameplate rating below 10 megawatts. A 13-month regulatory sandbox, in collaboration with ComfortDelGro, will pilot the participation of EV charging stations in the DR programme, showcasing innovative solutions to enhance the resilience of Singapore’s power system.

These initiatives mark a significant step in Singapore’s journey towards a more sustainable and reliable energy future, with the potential to transform the way electricity is consumed and managed across the nation.

HDB resale prices in Singapore have experienced their smallest quarterly gain in nearly five years, according to the latest report by Realion Group’s OrangeTee & ETC Research. The third quarter of 2025 saw a modest price increase of 0.4%, marking the fourth consecutive quarter of slowing growth. This trend is attributed to intensified competition among sellers, with nearly 30,000 new flats launched for sale this year.

The report highlights a continued demand for premium flats, with the number of resale flats sold for at least S$800,000 increasing for the third consecutive quarter to 1,506 units. Additionally, the market saw a record 480 million-dollar flat transactions, a 15.7% increase from the previous quarter. Notably, a third flat was sold for at least S$1.6m in August.

Despite the slowdown, the market has recorded 22 consecutive quarters of price increases since Q2 2020. However, the pace of growth has been tempered by the availability of new Build-to-Order (BTO) and Sale of Balance Flats (SBF), which offer more affordable options to buyers. The October BTO sales exercise alone released over 9,000 new flats, including the first in Mount Pleasant and Greater Southern Waterfront.

Looking ahead, OrangeTee predicts that resale prices may grow by 3% to 4.5% for the entire year. The rental market also saw a slight increase, with approved applications to rent out HDB flats rising by 0.6% to 10,123 units in Q3 2025. However, rental demand is expected to soften in the coming months due to economic uncertainties and year-end holidays.

QAI Ventures has announced the launch of its QuantumAI Accelerator in Singapore, marking the country’s first venture capital firm dedicated to QuantumAI startups. Backed by Enterprise Singapore, the initiative is part of a national strategy to create a “lab-to-IPO” pipeline for deep-tech commercialisation. The programme aims to bridge the gap between research and high-growth markets, with Bain & Company estimating a potential $250b in value.

The accelerator, which coincides with the Singapore Week of Innovation & Technology (SWITCH) 2025, is supported by industry leaders such as Microsoft, DBS Bank, and SoftBank. Alexandra Beckstein, CEO and Founder of QAI Ventures, stated, “Through our VC-funded Accelerator, Venture Building programmes, and deep industry collaborations, QAI Ventures is building the Future of QuantumAI in Asia backed by Enterprise Singapore.”

The five-month programme is designed to empower early-stage founders, providing mentorship from a global network of quantum technologists and industry executives. It culminates in a Demo Day, where startups present to investors and partners. Applications for the inaugural cohort are open until 2 March 2026, with the programme starting mid-2026.

Additionally, QAI Ventures will launch a Venture Building Programme in 2026, aiming to register seven new ventures in Singapore by 2027. This initiative will leverage a proprietary database of over 2,000 patents to create market-ready ventures, further driving innovation and job creation in the region.

Singapore Exchange Regulation (SGX RegCo) has introduced new measures to transition towards a disclosure-based regulatory regime, aligning with global standards. This move follows recommendations by the Equities Market Review Group and is supported by industry feedback from a public consultation in May 2025. SGX RegCo is also seeking input on proposed Mainboard rule changes to consolidate listing review functions under its purview, as suggested by the Monetary Authority of Singapore (MAS).

SGX RegCo’s CEO, Tan Boon Gin, emphasised the holistic nature of the measures, stating they aim to enhance market efficiency and governance standards. The changes focus on providing decision-useful information to investors whilst maintaining key safeguards to uphold market quality and investor trust.

Key changes include lowering the profit test threshold for new listings from S$30m to S$10m, allowing pre-revenue companies with strong growth potential to list on the Mainboard. This aims to diversify the range of companies and broaden investor choice. Additionally, SGX RegCo will retain qualitative admission criteria to ensure issuers have strong governance and financial health.

Post-listing, SGX RegCo will only consider trading suspensions if there is clear evidence of going concern issues. The financial watch-list will be removed to avoid negative impacts on business confidence, though issuers must disclose consecutive financial losses.

MAS is consulting on consolidating listing review functions under SGX RegCo, which would streamline the process for prospective issuers. The consultation on this proposal is open until 29 November 2025.

Airwallex has unveiled its refreshed ‘Airwallex for Startups’ programme, aiming to transform financial operations into a growth engine for businesses. Initially launching in Singapore, the programme will expand globally, addressing the critical financial challenges that lead to the failure of 90% of startups worldwide. By providing stage-appropriate financial infrastructure, strategic mentorship, and an AI innovation sandbox, Airwallex seeks to equip founders with the necessary tools to scale and thrive.

The programme is structured around three core pillars. Firstly, startups will access financial infrastructure tailored to their funding stage, ensuring that support grows alongside their business. Secondly, founders will benefit from strategic financial mentorship through the Startup CFO Expert Panel, offering guidance on cash-flow optimisation, valuation, and investor relations. The programme kicks off with the Startup CFO Summit in Singapore, bringing together over 100 founders and 20 CFOs for workshops.

The third pillar, the AI Sandbox, offers AI-native startups the chance to tackle real-world challenges and collaborate with Airwallex to test solutions. Promising teams may develop design-partner relationships, gaining early customer validation to accelerate fundraising. Additionally, partnerships with OpenAI, Google Cloud, and HubSpot provide an integrated suite of perks across AI, cloud, and growth tools.

Lucy Liu, Co-founder and President of Airwallex, emphasised the importance of financial foundations for scaling: “The best ideas don’t just need funding; they need the right financial foundations to scale.” The programme aims to provide startups with the tools, knowledge, and networks to turn financial operations into a strategic advantage, fostering growth beyond borders.

Cushman & Wakefield has appointed Chloe Teo as Senior Director for Asia Pacific Tenant Representation, a move aimed at bolstering the firm’s advisory capabilities in the region. Teo, who brings over 20 years of real estate experience, will spearhead strategic initiatives to assist multinational companies in navigating complex real estate decisions across Asia Pacific. She will report to Arpita Srivastava, Managing Director of Advisory & Transactions for Asia Pacific Tenant Representation and Global Capability Centre Advisory.

Teo’s appointment is seen as a strategic enhancement to Cushman & Wakefield’s multi-market advisory services. Srivastava noted, “Singapore is a strategic gateway market in Asia. Chloe’s strong local and regional expertise adds greater depth to our multi-market APAC Tenant Representation Advisory capability.”

Based in Singapore, Teo is focused on developing workplace strategies that drive expansion and enable smart portfolio decisions. She expressed enthusiasm about her new role, stating, “I’m excited to join Cushman & Wakefield and to be part of a fast-growing team driving workplace strategy across Asia Pacific.”

Cushman & Wakefield, a leading global commercial real estate services firm, employs approximately 52,000 people in nearly 400 offices across 60 countries. In 2024, the firm reported revenue of $9.4 billion. Teo’s role is expected to further strengthen the firm’s ability to deliver tailored solutions and impactful outcomes for clients in the region.

The Porsche Singapore Classic is set to captivate golf enthusiasts and Porsche fans alike as it returns to the Laguna National Golf Resort Club from 20 to 23 March. The event promises a blend of high-calibre golf and unique Porsche experiences, featuring top golfers such as Paul Casey, Jimmy Walker, and Robert MacIntyre. The tournament will also showcase a Taycan Turbo S as the coveted hole-in-one prize.

The event, part of the DP World Tour, aims to solidify its reputation as a premier golfing event in Asia. Deniz Keskin, Director of Brand Management and Partnerships at Porsche AG, emphasised the tournament’s role in providing “emotional brand experiences for customers and fans.” The tournament will feature over two dozen DP World Tour winners and rising stars, including 17-year-old Singaporean Brayden Lee.

Beyond the golf course, Porsche will offer a range of attractions, including the Porsche Taycan Challenge and an exclusive VIP programme for international guests. The programme includes access to the Porsche Villas and a series of evening events, enhancing the overall experience for attendees.

Timo Bernhard, a two-time World Endurance champion, will also be present, engaging with fans and sharing insights into racing culture. Additionally, a fleet of Porsche Taycan and Cayenne models will be available for professional golfers and VIP guests to test drive.

The Porsche Singapore Classic not only highlights Porsche’s commitment to golf but also its dedication to creating memorable experiences for its community. Tickets for the event are available on the DP World Tour website.

Equator Renewables Asia (ERA), a Singapore-based renewable energy firm, has partnered with CRE International Co., Ltd (CREI), a subsidiary of China National Nuclear Corporation, to develop a multi-billion dollar clean energy project. The initiative, announced at the Asia Clean Energy Summit 2025, involves constructing a 900MWp photovoltaic and 1.2GWh battery energy storage system in the Riau Islands, Indonesia, with completion expected by 2029.

The project marks the first under ERA’s Singapore-Indonesia renewable energy programme, for which ERA holds a conditional licence from Singapore’s Energy Market Authority to import 400MWac of clean energy. This aligns with Singapore’s commitment to achieving net zero emissions by 2050 and its plan to import six gigawatts of low-carbon electricity by 2035.

CREI will handle the investment, construction, and operation of the solar and battery facilities, whilst ERA will manage the transmission and offtake coordination. Frank Phuan, ERA’s founder and CEO, expressed optimism about the demand for low-carbon energy in Singapore, stating, “This utility-scale project is the first and major step for ERA to turn vision into impact.”

Once operational, the project is expected to generate approximately 2,100GWh of renewable electricity annually, enough to power over 350,000 Singapore households and offset more than one million tonnes of CO₂ each year. Sun Jinfeng, CREI’s Singapore Country Manager, highlighted the collaboration’s potential, noting, “Leveraging CNNC’s global engineering experience and ERA’s regional experience, this project will showcase the potential of large-scale solar and storage integration in Southeast Asia.”

Knight Frank Singapore has reported a significant uptick in auction activity for the third quarter of 2025, driven by easing interest rates and increased electronic bidding. The total number of auction listings rose to 132, marking a 10% quarter-on-quarter increase and a 53.5% rise compared to the same period last year. Gross sales value reached $20.1m (S$27.4m), a 28.7% increase from the previous quarter and a staggering 355.4% year-on-year growth.

The industrial and residential sectors led the momentum, with nine properties sold at auction, including a notable sale of a freehold industrial property at 108 Tagore Lane for $6.7m (S$9.1m), 6.8% above its opening price. Sharon Lee, Head of Auction & Sales at Knight Frank Singapore, highlighted the role of their electronic bidding platform in broadening exposure and facilitating real-time engagement.

Mortgagee sales were a significant contributor, with 85 listings, up 32.8% from the previous quarter. Of the nine properties sold, seven were mortgagee sales, indicating a trend where easing interest rates are making leveraged acquisitions more attractive. Notably, a two-bedroom flat at Astoria Park sold at a 3.3% premium, whilst a ramp-up factory at Yishun Industrial Street 1 achieved a 2.2% gain.

The auction market’s growing appeal is underscored by increased listings of residential, industrial, and retail properties, despite a decline in office asset listings. The expanded use of electronic bidding has enhanced auction visibility, attracting both local and overseas buyers. As interest rates continue to moderate, Knight Frank anticipates sustained interest in the auction market, particularly in the industrial and residential segments.

Universal Vapor Jet Corporation (UVJC), a subsidiary of Universal Display Corporation, has inaugurated its global headquarters and research and development (R&D) centre in Singapore’s Mapletree Hi-Tech Park. The 8,000-square-foot facility will house the company’s headquarters, a state-of-the-art R&D centre, laboratory, and prototype manufacturing space to advance its Universal Vapor Jet Printing (UVJP) technology.

Over the next five years, UVJC plans to invest $36.5m (SGD 50m) in tools, equipment, and talent to accelerate the research and commercialisation of UVJP. Supported by the Singapore Economic Development Board (EDB) and the Agency for Science, Technology and Research (A*STAR), the initiative is expected to create high-value jobs in strategy, technology, and advanced engineering.

UVJP is a dry, solvent-free printing and deposition technology designed to meet the demands of precision additive manufacturing. “At UVJC, we’re not just building equipment, we’re building the foundation for the next generation of clean manufacturing,” said Chandran Nair, CEO of UVJC. The technology aims to open new possibilities across semiconductors, displays, life sciences, and clean energy.

The establishment of the Singapore headquarters underscores UVJC’s commitment to innovation and positions the city-state as a global hub for precision manufacturing. Collaborations with local research institutions, including several A*STAR Research Institutes, are planned to co-develop solutions that support greener and more precise production.

Steven V. Abramson, President and CEO of Universal Display Corporation, highlighted the significance of the new facility, stating it marks “a pivotal step in the evolution of Universal Vapor Jet Printing.” The move is expected to drive more efficient, cost-effective manufacturing across various industries.