Industry News

AEM Holdings Ltd has announced a strategic partnership with ASE Technology Holding Co Ltd to advance testing solutions for Artificial Intelligence (AI) and High-Performance Computing (HPC) markets. This collaboration combines AEM’s proprietary test technologies with ASE’s manufacturing capabilities to deliver innovative solutions.

The partnership involves ASE subscribing to S$12m of new AEM shares, representing 1.06% of AEM’s issued share capital as of 21 March 2026. This investment will be made through a private placement of 3,350,000 ordinary shares at S$3.591 per share. Additionally, ASE will receive 28,111,856 free detachable warrants, exercisable in two tranches, subject to revenue-related conditions.

The funds raised will support AEM’s expansion in Taiwan and the integration of its test technologies into ASE’s environments. This includes highly parallel test architectures and advanced thermal management capabilities. The partnership aims to enhance AEM’s product offerings and accelerate joint market initiatives for next-generation AI and HPC applications.

ISE Labs, a subsidiary of ASE, will benefit from this partnership by expanding its AI and HPC processor development capabilities. The focus will be on early-stage testing and validation, crucial for next-generation compute platforms. Ken Hsiang, CEO of ISE Labs, highlighted the importance of this collaboration, stating, “Test has become a critical enabler of performance, reliability, and manufacturability for next-generation AI and HPC systems.”

Samer Kabbani, CEO of AEM, remarked, “This partnership represents an important step in AEM’s strategy to work closely with industry leaders to advance the state of AI and HPC testing.” The collaboration is expected to develop and deploy test solutions that improve performance, scalability, and time-to-market for customers.

Sun Group and Changi Airports International (CAI) have entered into a strategic partnership to develop Phu Quoc International Airport into Vietnam’s first “airport destination”. This collaboration, announced on 21 March 2026, aims to integrate aviation infrastructure with tourism, retail, and entertainment, positioning Phu Quoc as a key aviation and tourism hub in the Asia-Pacific region.

The partnership will see CAI providing advisory services to enhance airport operations, commercial performance, and air connectivity. The airport, which handled approximately 6 million passengers in 2025, is projected to increase its capacity to 24 million passengers annually, with a long-term goal of 50 million. This development is timely as Phu Quoc prepares to host the APEC 2027 Summit, welcoming global leaders and international visitors.

Phu Quoc International Airport’s transformation is part of a government-approved master plan that includes a new runway and Terminal 2. The collaboration between Sun Group and CAI follows extensive exchanges in Vietnam and Singapore, leveraging their combined expertise in destination development and airport management.

Dang Minh Truong, Chairman of Sun Group, highlighted the significance of airports as gateways that shape first impressions. “Through this partnership with Changi Airports International, we aim to develop Phu Quoc International Airport into a true ‘airport destination’,” he stated. Eugene Gan, CEO of CAI, expressed confidence in Sun Group’s vision for Phu Quoc, noting the strong foundation provided by its integrated tourism and entertainment ecosystem.

This partnership is expected to serve as a foundation for future airport developments by Sun Group, including projects in Phan Thiet and master planning for airports in Con Dao and Rach Gia.

Linklaters has successfully advised the underwriters on the initial public offering (IPO) of UI Boustead REIT, marking the first mainboard and real estate investment trust (REIT) listing on the Singapore Stock Exchange (SGX) in 2026. The IPO raised approximately S$973.6m, making it the largest IPO in Singapore this year.

UI Boustead REIT focuses on investing in logistics, industrial, and business space assets across the Asia Pacific. Its initial portfolio includes 23 properties located in Singapore and Japan, with a total agreed property value of around S$1.9b. Notable properties include Rolls-Royce Solutions Asia in Singapore.

The Linklaters team was led by Amit Singh, partner and Head of South and Southeast Asia Capital Markets, with support from counsellor Joseph Wolpin. Singh expressed his satisfaction with the project, stating, “We are delighted to have played a role in bringing a high-quality portfolio such as UI Boustead REIT to the Singapore market.”

Linklaters, with over 50 years of experience in Asia, has established a strong reputation in the region’s capital markets. The firm continues to provide clients with expertise and insights to seize opportunities in evolving markets. This IPO further cements Linklaters’ position as a leader in advising on high-profile and landmark transactions in Southeast Asia.

Maybank has announced a term loan facility of up to S$65m to ISE Foods Holdings (IFH), a subsidiary of SGX-listed Ellipsiz Ltd, to partially finance the development of Singapore’s fourth egg farm. This initiative is a significant step in enhancing the nation’s food production capabilities and reducing reliance on imports.

The large-scale farm, developed in collaboration with the Singapore Food Agency and other government bodies, aims to increase local egg production. This aligns with Singapore’s goal of producing 30% of its protein needs locally by 2035, thereby bolstering food security. Kenneth Ho, CEO of Ellipsiz, emphasised the importance of local enterprise in national resilience, stating, “With Maybank’s support and close collaboration with the SFA, we are building infrastructure that will serve Singaporeans for decades to come.”

Alvin Lee, Country CEO of Maybank Singapore, highlighted the bank’s commitment to national priorities and sustainability. “The SG4EF project will implement advanced agri-tech and smart warehousing solutions, and qualifies as an eligible social loan under our food security and sustainable food systems category,” he said.

This project is part of Maybank’s ROAR30 strategic plan, which aims to mobilise RM300b (S$98b) and RM100b (S$33b) in sustainable finance and new economy initiatives by 2030. The development of the egg farm represents a forward-looking approach to creating a sustainable food ecosystem in Singapore.

Rivelle Tampines executive condominium (EC) in Tampines Street 95 has sold over 92% of its 572 units during its launch weekend, marking the strongest performance for a new EC project since 2017. The units were sold at an average price of $1,893 per square foot, according to Kelvin Fong, CEO of PropNex.

The project’s success is attributed to its strategic location near the upcoming Pinery Mall, Tampines West MRT station, and various amenities such as SAFRA Clubhouse and Bedok Reservoir Park. The proximity to educational institutions like St. Hilda’s Primary School further enhances its appeal.

The second-timer buyer quota was quickly reached on Saturday afternoon, indicating robust interest from first-time buyers. Under current EC regulations, only 30% of units can be sold to second-timers during the initial launch. Those unable to secure a unit can attempt to book one month later, with expectations that Rivelle Tampines will sell out when more second-timers are allowed to purchase.

The launch attracted over 8,000 visitors to its sales gallery, underscoring the demand for ECs in Tampines. Previous projects in the area, such as Aurelle of Tampines and Tenet EC, also experienced high sales during their launch weekends.

With Tampines being the largest Housing Development Board (HDB) town in Singapore, it offers a substantial pool of potential upgraders. The demand for ECs remains strong, supported by their affordability compared to private condos, despite rising prices due to increased land and construction costs.

Alfa Medicus has launched a new integrated healthcare facility at i12 Katong, Singapore, combining Aptus Surgery and OHM Imaging under one roof. This development aims to decentralise private healthcare, traditionally concentrated in Orchard and Novena, by expanding access to the eastern region of Singapore, which is home to a large residential population.

The new centre offers an integrated care model, allowing patients to complete imaging, consultations, procedures, and recovery in a single location. This approach is designed to reduce wait times and improve the continuity of care. The facility also supports same-day imaging and streamlined workflows, enabling faster diagnosis and treatment decisions.

This initiative reflects a broader shift in healthcare towards ambulatory care, where more procedures are suitable for same-day discharge. This trend emphasises efficiency, cost-effectiveness, and patient convenience, aligning with the growing demand for outpatient-focused care models in Singapore.

The opening of this facility marks a significant step in enhancing healthcare accessibility and patient experience in the region. As Singapore’s healthcare landscape continues to evolve, such integrated models are expected to become increasingly prevalent, prioritising accessibility, speed, and patient comfort.

A unique opportunity has arisen for investors with the launch of a prime 4-storey commercial shophouse at 38 Circular Road, Singapore, for sale at a guide price of S$28m. Marketed by Brilliance Capital, the property is available through an Expression of Interest (EOI) process.

Located in the bustling Circular Road enclave, the shophouse benefits from its proximity to Clarke Quay, Raffles Place, and Telok Ayer MRT stations. This strategic position places it amidst a vibrant mix of office towers, financial institutions, and lifestyle venues, making it particularly appealing to food and beverage (F&B) operators and retail concepts.

The conserved shophouse, with a land area of approximately 1,141 sq ft and a built-up area of about 4,402 sq ft, is zoned for full commercial use. It offers flexibility for various uses, including F&B, retail, and wellness concepts. Notably, the property boasts a 999-year tenure, enhancing its appeal for long-term investment. It is exempt from Additional Buyer’s Stamp Duty (ABSD) and foreign ownership restrictions.

Currently, the ground floor hosts a popular Japanese soba restaurant, whilst the upper floors accommodate a wellness operator and an interior design firm. One level has been refurbished for potential owner-occupation. The property underwent significant refurbishment in 2023, enhancing its interior and exterior features.

Sammi Lim, Founder and Executive Director of Brilliance Capital, highlighted the area’s transformation into a refined commercial hub. She noted the strong appeal of conservation shophouses, especially amidst global uncertainties, and the growing interest from international investors. The EOI for 38 Circular Road closes on 6 May 2026.

Great Eastern and The Kallang Group have officially named the 888-metre sheltered running track encircling the National Stadium as Great Eastern Promenade. This marks a significant step in transforming one of Singapore’s largest fully-sheltered, free-to-use civic spaces into a vibrant hub for community events and social connections.

The launch event saw close to 350 individuals and families participating in activities such as family pickleball, beginner-friendly cycling tryouts, and the Great FinChamp Challenge, an interactive game designed to teach children key financial concepts. Additionally, 75 runners inaugurated the unisex Great Eastern Run Club, inspired by the annual Great Eastern Women’s Run.

Greg Hingston, Group CEO of Great Eastern, highlighted the significance of the promenade, stating, “The promenade at the National Stadium is where the people of Singapore come to walk, run and stay active.” Quek Swee Kuan, CEO of The Kallang Group, added, “We are pleased to extend our longstanding partnership with Great Eastern to enhance our offerings through expanded community sport programmes and initiatives that promote financial literacy.”

The Great Eastern Promenade will host a series of community activities throughout the year, including the Great Family Play Day and the Great Eastern Run Club sessions. The initiative aims to encourage active living and financial literacy, with plans to introduce these aspects into The Kallang’s Learning Journey programme.

As part of its commitment to community engagement, Great Eastern will also launch a financial literacy programme at The Kallang, featuring the Great FinChamp Challenge. This initiative will be housed in a new installation space near National Stadium Gate 14, set to open in the second half of 2026.

Las Vegas Sands has awarded a multi-billion-dollar contract to Singapore’s Woh Hup (Private) Limited to spearhead the construction of its next-generation ultra-luxury development. This decision follows a rigorous competitive tender process involving top construction firms from the region. The project, designed by renowned Safdie Architects, is expected to be completed by 2030.

Woh Hup, a leading construction and civil engineering company in Singapore, was chosen for its technical expertise and successful track record in handling complex projects. The company has previously contributed to iconic Singaporean landmarks such as Gardens by the Bay and Jewel Changi Airport. Patrick Dumont, CEO of Las Vegas Sands, expressed confidence in Woh Hup’s ability to deliver a landmark development, stating, “Woh Hup has played a defining role in shaping Singapore’s development.”

The new development is part of Las Vegas Sands’ long-term investment strategy in Singapore and aims to enhance the city’s global stature. The project will feature a luxury hotel tower, premium meeting spaces, and a 15,000-seat arena for live entertainment, further boosting Singapore’s tourism and hospitality sectors.

Marina Bay Sands, a key player in Singapore’s economy, recorded its most successful year in 2025, contributing 1.2% to the nation’s GDP. The integrated resort welcomed over 36 million visitors and hosted more than 2,000 MICE events, underscoring its significant economic impact. As Las Vegas Sands continues its expansion, the collaboration with Woh Hup is expected to create substantial opportunities for local industries and the broader economy.

A groundbreaking study led by Emilie Finch from the London School of Hygiene and Tropical Medicine and Rachel Lowe from the Barcelona Supercomputing Centre has developed a forecasting model capable of predicting dengue outbreak risks in Singapore. This model, created in collaboration with Singapore’s National Environment Agency, integrates climate data and information on dengue virus serotypes to enhance prediction accuracy.

Dengue, a mosquito-borne disease, poses a significant public health challenge, particularly in Southeast Asia. The spread of dengue has been exacerbated by rising global temperatures and altered rainfall patterns, with 2024 marking a record 14 million cases worldwide. The new model leverages over 20 years of data, revealing that dengue outbreak risks peak during El Niño conditions and following shifts in dominant dengue serotypes.

The study also evaluated the impact of Project Wolbachia, which releases Wolbachia-carrying mosquitoes to curb dengue transmission. The model estimated that approximately 28% of expected dengue cases in 2023 were prevented due to expanded releases in 2022. Rachel Lowe highlighted the model’s ability to provide early warnings, stating, “This integrated approach allows us to anticipate surges in dengue weeks in advance and provide actionable early warnings.”

Looking forward, the research team aims to compare this model with other forecasting tools and explore its application in different regions. This interdisciplinary effort underscores the potential of combining computational modelling, climate science, and public health to address the challenges posed by climate change and disease outbreaks.