Industry News

Singapore Airlines (SIA) Group is marking Singapore’s 60th year of independence with a series of initiatives from April to December 2025. As part of the Celebrating with Singapore campaign, SIA is offering special fare deals, bonus miles, and exclusive promotions on platforms like Kris+, KrisShop, and Pelago. Additionally, the airline will feature Singapore-themed content on its in-flight entertainment system, KrisWorld, and serve classic Singapore hawker dishes on selected flights.

The campaign also includes a significant community component. SIA aims to raise $1.3 million through a fundraising campaign, which the airline will match, resulting in a total donation of $2.6 million to AWWA and Rainbow Centre. These organisations support children and youth with disabilities and developmental needs. Furthermore, SIA will host a special two-day SIA Cares Open House in July, offering over 600 beneficiaries from various social service agencies a behind-the-scenes tour of its training centre.

SIA CEO Goh Choon Phong expressed gratitude for the support from customers and the public, stating, “Our story is intertwined with Singapore’s growth and progress as a country, and the Celebrating with Singapore campaign is our way of expressing gratitude, giving back to the community, and marking SG60 meaningfully.”

The campaign also features special SG60 fare deals for flights between Singapore and 77 destinations, with opportunities for customers to win business class tickets and hotel stays in Seoul, South Korea. KrisFlyer members can enjoy additional discounts and bonus miles, whilst Kris+ and Pelago offer SG60 vouchers and discounts on attractions and tours.

In June, KrisShop will launch The Heritage Collection, celebrating Singaporean cultural elements, and Scoot will unveil a limited-edition aircraft model designed in collaboration with LASALLE College of the Arts.
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Deel, a leading global payroll and HR platform, has unveiled a suite of AI-powered products aimed at revolutionising how companies manage international teams. The new tools, launched on 8 April 2025, integrate payroll, HR, and IT functions into a single platform, addressing inefficiencies in fragmented systems.

This suite is now available in Singapore and globally, offering businesses a streamlined approach to operating across borders.

Karen Ng, Deel’s Regional head of Expansion for Enterprise in North and South Asia, highlighted the importance of these innovations in supporting Singapore’s focus on training and skills development. “With intelligent tools that provide data-driven insights, Deel is empowering Singapore businesses to bridge local talent gaps and scale internationally,” she stated.

The product suite includes several key features:

– **Deel Talent**: Connects businesses with staffing agencies directly within the platform, simplifying the hiring process.
– **Deel Workforce Planning**: Offers AI-driven tools for strategic headcount planning and approval.
– **Deel Compensation**: Allows HR teams to manage global compensation strategies, integrated with payroll.
– **Deel Engage**: Enhanced with AI features for employee feedback, career management, and learning management.
– **Deel IT**: New security features for managing devices across 130 countries.

Additionally, Deel has expanded its payroll capabilities, now offering Real-Time Payroll in over 53 markets, with plans to reach 130 by 2027. The company has also launched Deel PEO and Deel Benefits Admin to further streamline HR processes.

Alex Bouaziz, Deel’s Co-founder and CEO, emphasised the need for a unified system, stating, “Deel is changing that. Every product and feature we build is designed with our customers in mind—to help them hire, manage, and pay global teams easily and compliantly.”

With a 60% increase in customers using multiple products and over $11 billion processed in payments, Deel continues to grow, aiming to become the sole platform businesses need for managing global teams.
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HSBC has introduced its most prestigious credit card, HSBC Privé, in Singapore, exclusively available by invitation to Global Private Banking clients. Developed in collaboration with Mastercard, this card aims to cater to the high- and ultra-high-net-worth individuals by offering a range of exclusive privileges and premium lifestyle benefits.

The HSBC Privé card is designed to provide its holders with unparalleled luxury and global experiences. It offers curated access to a variety of exclusive privileges, including elevated travel experiences and premium lifestyle benefits. This initiative underscores HSBC’s commitment to meeting the sophisticated needs of its affluent clientele.

Carina Koh, Senior Communications Manager at HSBC Singapore, highlighted the card’s unique offerings, stating, “HSBC Privé is a gateway to unparalleled luxury and global experiences, tailored specifically for our most valued clients.”

The launch of HSBC Privé marks a significant step in HSBC’s strategy to enhance its services for high-net-worth individuals in Singapore, a key market for the bank. By partnering with Mastercard, HSBC ensures that the cardholders receive top-tier benefits and services that align with their lifestyle and financial needs.

As HSBC continues to expand its offerings for affluent clients, the Privé card is expected to strengthen the bank’s position in the competitive private banking sector. The introduction of this card reflects HSBC’s ongoing efforts to innovate and provide exceptional value to its clients.
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ALUXE, a renowned Taiwanese diamond and wedding jewellery brand, has expanded its presence to Singapore, offering an impressive collection of over 30,000 certified diamonds. Known for its commitment to quality and competitive pricing, ALUXE aims to make premium diamonds more accessible to customers in Singapore.

The brand’s innovative approach includes a real-time selection process, allowing customers to view diamonds with high-resolution 360-degree images. This seamless integration with global suppliers ensures a wide range of ready-to-go options and preorders with guaranteed delivery within two months.

ALUXE’s competitive edge lies in its direct sourcing from the world’s top diamond cutters, eliminating unnecessary markups. As one of Taiwan’s largest diamond importers, ALUXE ensures that customers receive the highest quality diamonds at the best possible price.

Every diamond from ALUXE comes with internationally recognised certification. Natural diamonds are graded by the Gemological Institute of America (GIA), whilst lab-grown diamonds receive certification from the International Gemological Institute (IGI). The exclusive ALUXE Ultimate Diamond Report provides advanced scientific analysis, ensuring only the finest stones are included in their collection.

In addition to classic round diamonds, ALUXE offers a selection of fancy-cut and rare coloured diamonds, including pink, yellow, and blue hues. The ROSÉ My Love collection features lab-grown pink diamonds, whilst the Lovers Collection showcases blue diamonds in elegant wedding bands.

With its flagship store at ION Orchard and additional locations in JEM and Tampines, ALUXE is dedicated to helping couples find the perfect expression of love through meticulously crafted jewellery.
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Grab has launched a series of innovative solutions at its first-ever GrabX product showcase in Singapore, aiming to cater to diverse user needs through advanced AI technologies. The event marked the unveiling of products designed to enhance everyday experiences for families, solo users, and explorers.

The new offerings include Grab For Family | Teens, which provides a secure travel option for teenagers aged 13 to 17, featuring safety measures like prioritised driver assignments and ride PIN verification. For solo users, GrabFood for One and Shared Saver offer tailored food delivery options. Meanwhile, explorers can benefit from features like Advance Booking for airport pickups and Dine Out Discovery, powered by GrabMaps.

Anthony Tan, Group CEO and Co-founder of Grab, emphasised the company’s commitment to using AI to solve real-world problems. “GrabX demonstrates our commitment to harnessing the latest technologies to build solutions that address real problems and serve real needs, for everyday people,” he stated.

In addition to these user-focused innovations, Grab has expanded its collaboration with AI research organisations OpenAI and Anthropic. This partnership aims to empower Grab’s merchant and driver partners through AI solutions like the AI Merchant Assistant and AI Driver Companion, which provide actionable insights and support daily tasks.

The introduction of the Grab Early Access Programme allows users to test and provide feedback on new features, ensuring continuous improvement. As Grab continues to integrate AI into its operations, the company remains focused on enhancing safety and convenience for its Southeast Asian user base.
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CIMB Singapore, in collaboration with the Nanyang Centre for Marketing and Technology, has released a report detailing Singaporeans’ aspirations for financial independence. The study, conducted in December 2024, surveyed over 500 residents aged 26 to 60, revealing that 63% aim to achieve financial independence between the ages of 40 and 60. Notably, 52% of respondents believe they need more than S$1 million to be free from financial worries.

The report highlights that younger Singaporeans, particularly those under 30, exhibit the highest confidence in reaching their financial goals early. Despite the substantial financial target, 72% of participants consider financial independence a realistic goal, with 43% expressing confidence in managing their finances to achieve it.

However, financial anxiety remains prevalent, with 39% of respondents frequently experiencing concerns about their financial future. The study identifies high living costs, family responsibilities, and low income as the primary barriers to achieving financial independence.

Whilst 71% of respondents have a financial plan, only 48% have started planning for retirement. The report suggests that financial obligations, reliance on the Central Provident Fund, and a lack of knowledge are the main reasons for the delay in retirement planning.

The findings underscore the importance of financial planning and the need for increased financial literacy among Singaporeans to overcome the challenges of achieving financial independence.
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LinkedIn has released its 2025 Top Companies list for Singapore, highlighting the 15 best workplaces for career advancement. The list, based on LinkedIn’s exclusive data, evaluates companies on employee development, skill-building opportunities, and long-term career progression. This year’s top three are DBS Bank, Boston Consulting Group, and Alphabet Inc, showcasing the dominance of finance, consulting, and technology sectors.

DBS Bank retains the top spot for the third consecutive year, reflecting its commitment to career development and talent investment. “Beyond technical capabilities, we believe the ability to connect the dots, embrace a growth mindset, and demonstrate agility will be critical,” said Lee Yan Hong, Managing Director and Head of Group Human Resources at DBS. Consulting and technology firms like Boston Consulting Group and Alphabet Inc also feature prominently, underscoring the rising demand for strategy and digital transformation expertise.

The healthcare and life sciences sectors are also well-represented, with Roche, Novartis, and MSD making the list, highlighting Singapore’s expanding biomedical ecosystem. The rankings emphasise the importance of adaptability and a growth mindset in high-growth sectors.

The methodology for the list includes key pillars such as employee promotions, skills acquisition, and gender diversity. Companies must have at least 500 employees and maintain attrition rates below 10% to qualify. This year’s list reflects a job market in motion, where a growth mindset is essential for career success.
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CBRE has announced a unique opportunity for developers to acquire two freehold sites in Singapore’s District 19, comprising the Upper Serangoon Shopping Centre and an adjoining land plot. The acquisition offers the potential for a mixed-use development with unobstructed views over the low-density landed neighbourhood.

The Upper Serangoon Shopping Centre, located at 756 Upper Serangoon Road, is being marketed through a public tender process closing on 10 June 2025. The adjoining land plot, Lot MK22-04362W, is available via private treaty. Developers can choose to acquire the shopping centre alone or together with the adjoining plot for a larger redevelopment project.

The site is strategically located within the Surin/Charlton landed enclave, known for its exclusivity and accessibility. It is well-connected by public transport, with the Serangoon MRT Interchange Station just 750 metres away and the Kovan MRT station 1km away. The area is also supported by amenities such as NEX Mall and Heartland Mall.

Michael Tay, Head of Singapore Capital Markets at CBRE, highlighted the potential for a vibrant mixed-use development, subject to relevant authorities’ approval. “By combining Plot 1, 2, and 3 together, there is potential for a developer to curate a vibrant mixed-use development with a total GFA of 176,792 sq ft,” he said.

The relocation of Paya Lebar Airbase in 2030 is expected to enhance the area’s appeal, offering capital appreciation opportunities. Clemence Lee, Executive Director of Singapore Capital Markets at CBRE, noted the site’s attractiveness to both homeowners and investors due to its location and amenities.

The guide price for Upper Serangoon Shopping Centre is $260 million, translating to $1,471 per square foot on the verified gross floor area. Interested parties are encouraged to submit offers for consideration.
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UOB Kay Hian (UOBKH) has released its latest regional market updates, focusing on key sectors in Singapore, Malaysia, and Thailand. The report, dated 4 April 2025, provides insights into the plantation, construction, real estate investment trusts (REITs), banking, and property sectors across these countries.

Singapore’s REITs sector is reportedly starting to regain lost ground, whilst ComfortDelGro Corporation is facing increased competition with the entry of new players. UOBKH maintains a “Buy” rating for ComfortDelGro, with a target price of S$1.76.

In Malaysia, the plantation sector is expected to experience limited direct impact from the US’ reciprocal trade tariffs, as US imports constitute a minor portion of Malaysia’s palm oil exports. UOBKH maintains a “Market Weight” rating for the sector. Meanwhile, Sunway Construction continues to demonstrate robust earnings growth and strong orderbook replenishments, with UOBKH reiterating a “Buy” recommendation and a target price of RM5.05.

In Thailand, the banking sector’s earnings sensitivity is being closely monitored based on financial target guidance. The property sector, however, has been downgraded to “Underweight” following an earthquake that has shaken investor confidence.

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CGS International’s latest ESG update reveals that its portfolio has returned 22.3% since May 2024, underperforming the MSCI SG Index’s 24.9% return. Despite this, the portfolio outperformed the MSCI Singapore ESG Price Return Index, which saw a 16.96% increase. The performance disparity is attributed to the price outperformance and heavier index weightings of companies like SE, GRAB, and financial institutions such as DBS, OCBC, and UOB, compared to CGS International’s equal-weight portfolio.

The Singapore government remains committed to its Green Plan 2030, with no significant policy changes in the recent budget. New initiatives include incentives for electric heavy vehicles, a voucher scheme for energy-efficient consumer durables, and an expansion of the public transport network.

Globally, sustainable fund assets reached a new peak of $3.2t by the end of 2024, marking an 8% year-on-year increase. Europe continues to dominate the sustainable fund landscape, holding over 80% of global assets, whilst the US has seen a decline to 13%. The US administration’s rollback of ESG initiatives has contributed to this decrease.

CGS International has decided to maintain its current ESG portfolio, citing the fundamental growth drivers and ESG credentials of its selected stocks. The portfolio includes companies such as CD, CLI, KEP, PAN, SCI, ST, STE, STM, UOB, and YZJSGD.
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