Industry News

Rolls-Royce Singapore, Rolls-Royce Solutions Asia, and the Economic Development Board (EDB) have signed a Memorandum of Understanding (MoU) at the 2026 Singapore Airshow to explore growth opportunities in aerospace manufacturing, maintenance, repair and overhaul (MRO), power systems, and artificial intelligence (AI). This collaboration is set to bolster Singapore’s position as a global hub for aerospace innovation and manufacturing excellence.

The MoU will enable the parties to advance technology in aerospace manufacturing and MRO operations. Rolls-Royce plans to develop technologies beyond existing programmes like the Smart Manufacturing Joint Lab. Additionally, Rolls-Royce Solutions Asia aims to expand its capabilities to support the growing data centre market in the region. An AI Centre of Excellence is also on the cards to unlock AI development potential, particularly in power systems applications.

Giovanni Spadaro, President of Global Markets at Rolls-Royce (Power Systems), highlighted the company’s long-standing presence in Singapore, stating, “We look forward to working with partners and the EDB to further enhance technology development and capabilities in this region.” John Kelly, Senior Vice President of Civil Aerospace at Rolls-Royce Singapore, emphasised the importance of partnership and innovation in supporting sustainable growth.

Zheng Jingxin, Vice President and Head of Mobility at EDB, noted that the MoU reflects Rolls-Royce’s commitment to deepening aerospace manufacturing capabilities in Singapore. The initiative is expected to drive growth in AI, industrials, and infrastructure across the Asia Pacific.

The Asia-Pacific data centre market is projected to triple by 2029, driven by cloud, AI, and hyperscale growth. Rolls-Royce aims to provide the necessary technologies and expertise to support this expansion.

Savills Singapore has announced the launch of Sky City Osaka, a new freehold boutique bed and breakfast (B&B) investment opportunity located near Umeda, one of Osaka’s major commercial and transport centres. The development, set to be fully refurbished by TY-Properties, offers a unique chance for investors to enter Japan’s hospitality-led real estate market through a professionally managed, short-stay investment model.

Sky City Osaka, situated in Osaka’s Kita Ward, features studio to two-bedroom flats designed for short-stay guests and urban travellers. The property is strategically located within walking distance of Ōsakatemmangū and Minami-morimachi Stations, providing convenient access to Umeda and Kansai International Airport. The development is also near popular attractions such as Osaka Tenmangu Shrine and Tenjinbashisuji Shopping Street, enhancing its appeal to both domestic and international tourists.

Osaka is becoming an attractive investment destination due to strong tourism demand, limited supply of centrally located short-stay accommodation, and favourable ownership structures for foreign buyers. The city’s allure is expected to grow with the upcoming Osaka Integrated Resort, slated for completion by 2030, which is anticipated to boost international visitor arrivals and long-term accommodation demand.

Adrian Lim, Senior Director and Head of International Residential Sales at Savills Singapore, stated, “Osaka continues to benefit from robust tourism demand and a shortage of well-located short-stay accommodation.” He highlighted that Sky City Osaka offers freehold ownership, zero additional buyer’s taxes, and an accessible entry price point, making it an attractive option for Singapore-based investors.

The launch event for Sky City Osaka is scheduled for 7 and 8 February 2026 at Voco Orchard Hotel. Investors are offered freehold rights, a hassle-free ownership structure, and full management, providing a hands-off approach to overseas property ownership.

SBI Digital Markets (SBIDM), a Singapore-licensed digital asset partner for institutional investors, has successfully closed Asia’s largest music Intellectual Property (IP) Real-World Asset (RWA) deal. The US$30m transaction, completed in 2025, involved bonds backed by a new music album and a series of performing rights. This marks SBIDM’s third successful RWA commercialisation in six months, following previous ventures in luxury wine and a tokenised money market fund.

The deal comes amid a surge in global interest in music rights, with private equity firms and institutional investors raising US$4.4b in debt backed by music rights by Q3 2025, a significant increase from US$300m in 2021. This growth is driven by rising global music revenues and evolving digital consumption trends. SBIDM collaborated with music owners and entertainment companies to launch IP-backed RWAs, funding new albums and music experiences.

CK Ong, Acting CEO of SBI Digital Markets, emphasised the company’s focus on regulated execution, stating, “Whilst much of the market cashes in on the hype of tokenised products, our priority at SBIDM has always been disciplined, regulated execution of structures and guardrails for issuers and investors.”

SBIDM’s recent transactions highlight its commitment to advancing RWA securitisation in Asia. As part of the SBI Group, SBIDM leverages its expertise in digital asset infrastructure and regulatory structuring to offer innovative financing solutions. Looking ahead, SBIDM plans to expand its deal pipeline with leading IP companies and asset owners across Asia and Europe in 2026.

Singapore Exchange (SGX) has announced that, as of early 2026, 100 stocks are now trading at over S$1m in average daily turnover (ADT). This milestone reflects a robust increase in trading activity, highlighting the growing investor interest in the Singapore market.

The Assembly Place (TAP) and Toku are among the latest companies to debut on the SGX Catalist, contributing to the vibrant trading environment. TAP, Singapore’s largest community living operator, began trading on 23 January 2026. It manages over 3,400 keys across 100 properties and aims to expand to 10,000 keys by 2030. Toku, which debuted on 22 January 2026, raised S$16.3m through its initial public offering. The company plans to use the proceeds to expand its AI-powered customer experience platform and explore strategic acquisitions.

Stocks whose average daily trading turnover (ADT) has moved to above S$1m in January (from below in 2H25 & full 2025 year) included PC Partner, EFH, Ley Choon, Aoxin Q & M, Bukit Sembawang, InnoTek, Pacific Radiance, GuocoLand, Raffles Education, Sunpower, and IX Biopharma. Their combined ADT grew from S$3.3m in 2025 to S$23.1m in January 2026.

Looking ahead, the SGX’s strategic initiatives and the continued influx of new listings are expected to sustain the momentum in trading volumes, reinforcing Singapore’s position as a leading financial hub in the region.

Revolut, the global fintech company, has announced its plans to bolster its presence in Asia by expanding its operations from Singapore. Supported by the Singapore Economic Development Board (EDB) and its investment arm, EDBI, Revolut aims to accelerate product innovation and regional growth. The company plans to triple its workforce over the next three years, focusing on high-skilled roles in engineering, product development, data, and artificial intelligence.

Revolut’s expansion is part of a broader strategy to strengthen Singapore’s position as a leading global fintech and innovation hub. The company, currently valued at US$75b, has already doubled its headcount in Singapore from 2024 to 2025. It has also launched the Rev-celerator Internship and Graduate Programmes, offering successful candidates opportunities to work in offices in Poland, the UK, the UAE, and Spain.

Raymond Ng, CEO of Revolut Singapore and Southeast Asia, expressed gratitude for the support from EDB and EDBI, stating that their commitment to building Singapore as a global innovation hub has been invaluable. Victor Stinga, CFO at Revolut, highlighted that the investment from EDBI endorses Revolut’s long-term vision in Asia.

The expansion in the region includes the recent launch of a Global Tech Hub in Manila, and Revolut is evaluating further market expansions across Asia. EDB’s Executive Vice President, Chan Ih-Ming, noted that Revolut’s growth reflects confidence in Singapore as a stable base for accessing Asia’s markets, and its commitment to talent development will create new opportunities for local talent in the fintech sector.

The Singapore Aviation Academy and École Nationale de l’Aviation Civile have launched an Advanced Master in Air Transport Management, targeting the Pacific Small Island Developing States. Unveiled on 1 February 2026 at the Fullerton Hotel in Singapore, the programme seeks to bolster aviation leadership and safety in these regions. The initiative is part of the Enhanced Framework Agreement for Civil Aviation between Singapore and France, reflecting a commitment to sustainable air transport development.

The 18-month programme, starting on 5 May 2026, will be delivered by senior faculty and practitioners from both institutions. It includes twelve modules covering aviation management, safety, regulatory oversight, and strategic leadership, culminating in a professional thesis. The inaugural cohort will consist of around 20 officers from civil aviation authorities and state-owned aviation organisations in the Pacific islands. The course, fully funded by France, Singapore, and other stakeholders, will be held in Fiji with some virtual modules.

Han Kok Juan, Director-General of the Civil Aviation Authority of Singapore, stated, “The joint programme brings together complementary expertise of Singapore and French civil aviation authorities and aviation training academies to help build leadership capabilities in the Pacific Small Island Developing States.” Chems Chkioua, Director-General of the Direction Générale de l’Aviation Civile, added, “This programme is specifically designed for the senior leadership and top management of Civil Aviation Authorities from the Small Island States of the Pacific.”

This collaboration underscores the strategic partnership between Singapore and France, aiming to ensure no country is left behind in aviation advancements.

Singapore’s services sector is maintaining a positive outlook for the first half of 2026, according to the latest Business Expectations Survey by the Singapore Department of Statistics. The survey reveals that 15% of firms anticipate improved business conditions, whilst 11% foresee a decline, resulting in a net weighted balance of 4% expecting a favourable outlook.

The Retail Trade industry is particularly optimistic, buoyed by the upcoming Chinese New Year festivities. Supermarkets are leading this positive sentiment, expecting increased consumer spending. Similarly, the Wholesale Trade industry is hopeful, driven by the ongoing Windows 11 refresh and corporate hardware renewals, alongside growth in Artificial Intelligence-related products.

The Recreation, Community & Personal Services industry also projects a positive outlook, with childcare centres and health services providers expecting sustained demand. However, the Transportation & Storage industry anticipates challenges due to an oversupply of vessels and weakening cargo demand, compounded by global economic uncertainties and geopolitical tensions.

For the first quarter of 2026, the services sector expects a 3% net weighted balance increase in operating revenue. Retail and Recreation, Community & Personal Services industries foresee higher revenues, with the former benefiting from festive spending and the latter from increased demand for healthcare and childcare services.

Employment prospects are also promising, with a net weighted balance of 8% of firms planning to increase hiring. The Retail Trade and Recreation, Community & Personal Services industries are expected to lead this trend, preparing for heightened demand during the festive season and beyond.

Soon Hock Enterprise Holdings Limited has announced an anticipated significant increase in revenue and net profit for the financial year ending 31 December 2025 (FY2025), compared to the previous year. This improvement is largely due to the partial Temporary Occupation Permit (TOP) received on 11 December 2025 for its industrial development project, Stellar@Tampines. The permit allowed the company to recognise sales revenue as customers gained control of their units.

The company’s Board of Directors revealed that the eligible customers of units on Levels 1 to 8 of Stellar@Tampines received their Notice of Vacant Possession (NOVP) by FY2025, contributing to the financial upturn. This marks a notable change from FY2024, which saw no comparable completed industrial development projects.

Soon Hock Enterprise is currently finalising its unaudited consolidated financial results for FY2025, with a detailed announcement expected around 23 February 2026. The company advises shareholders and potential investors to exercise caution when dealing with its shares and to seek professional advice if needed.

Singapore is set to become the world’s first airport testbed for next-generation propulsion technologies, following a Memorandum of Understanding (MOU) signed by the Civil Aviation Authority of Singapore (CAAS), CFM International, and Airbus. The agreement, signed at the Changi Aviation Summit on 2 February 2026, focuses on testing CFM’s Revolutionary Innovation for Sustainable Engines (RISE) technologies, particularly the Open Fan engine architecture.

The collaboration aims to develop a comprehensive readiness framework for integrating Open Fan engines into existing airport operations. This includes considerations for aircraft system design, infrastructure modifications, operational procedures, safety standards, and regulatory measures. The framework will serve as a global blueprint for airframers, airports, and airlines.

The RISE programme, led by CFM, seeks to advance commercial aircraft engine technologies, promising over 20% better fuel efficiency than current engines. The Open Fan architecture, a key feature, is designed to reduce emissions and noise whilst being compatible with future hybrid-electric systems.

Operational trials of the Open Fan engine demonstrators are planned at Singapore Changi Airport or Seletar Airport to validate the framework and assess the technology’s feasibility. Han Kok Juan, Director-General of CAAS, highlighted Singapore’s role as an integrated air hub, stating that the partnership underscores the country’s regulatory expertise and capability to testbed new technologies.

Gaël Méheust, CEO of CFM International, emphasised the importance of real-world demonstrations to build confidence in the new technology’s safety and efficiency. Remi Maillard of Airbus expressed excitement about advancing propulsion technologies in Singapore’s state-of-the-art aerospace ecosystem.

The Association of Banks in Singapore (ABS) has announced that banks will cease using NRIC numbers for authentication by 1 January 2027, in compliance with advisories from the Personal Data Protection Commission (PDPC) and the Monetary Authority of Singapore (MAS). This move aims to enhance security and privacy in financial transactions.

Currently, NRIC numbers are not used for most financial transactions such as payments and funds transfers, which require multi-factor authentication. However, some banks still use NRIC numbers for non-transactional purposes, like opening encrypted email attachments. These banks will transition to alternative authentication methods in the coming months.

Ong-Ang Ai Boon, Director of ABS, stated, “Banks are committed to phasing out the use of NRIC numbers for authentication, in line with advisories from PDPC and MAS.”

The PDPC’s directive, issued on 2 February 2026, mandates that organisations stop using NRIC numbers for authentication by the start of 2027. This initiative is part of a broader effort to protect personal data and enhance cybersecurity measures across various sectors.

ABS, established in 1973, represents over 150 local and foreign banks in Singapore. It plays a crucial role in promoting the interests of the banking community and works closely with government authorities to develop a robust financial system in Singapore. More information about ABS can be found on their website.