Industry News

Singapore has been ranked first in the Asia-Pacific (APAC) region for digital resilience, according to a report by Economist Impact, supported by Telstra International. Despite this top ranking, the report identifies significant gaps in leadership accountability and ecosystem coordination, which leave organisations vulnerable to disruptions.

The research, based on a survey of 1,420 senior executives across 11 APAC markets, shows that whilst Singapore excels in risk management and workforce agility, execution often falls short of intent. Only 12% of organisations mandate training for adaptability during live outages, and 71% of boards do not regularly review digital resilience plans, leaving these responsibilities siloed within specific functions.

Charles Ross, Head of Policy and Insights, APAC, Economist Impact, stated, “Singapore’s top ranking is a testament to its gold-standard regulatory environment. However, our research shows that strong compliance and operational discipline are not enough.”

The report also highlights that only 22% of Singaporean organisations have visibility into their suppliers’ digital resilience, indicating a weak link in ecosystem coordination. Roary Stasko, CEO of Telstra International, emphasised the need for shared accountability across partners and networks, stating, “Digital resilience today is no longer something any business can build alone.”

As Singapore continues to face rising digital risks, the report suggests that bridging the gap between compliance and operational agility is crucial for future resilience. This involves embedding digital resilience into strategy, governance, and ecosystem design to better prepare for disruptions.

Sunwave has made a significant impact at the inaugural GITEX Asia 2026, held at Marina Bay Sands, by showcasing its latest wireless solutions and announcing an upgrade to its International Headquarters (IHQ) in Singapore. This strategic move aims to bolster its service and delivery capabilities across the Asia-Pacific region.

At the event, Sunwave introduced its All-in-One Site solution, designed for rapid deployment in remote and temporary locations. This innovative system integrates satellite backhaul, private 5G, edge computing, and IoT, enabling network rollout in approximately 30 minutes. The solution is ideal for mining operations, construction sites, and large-scale events, significantly reducing deployment time and operational complexity.

Additionally, Sunwave unveiled several new products to enhance network performance and flexibility. These include the nCELLM integrated base station, which combines baseband and radio units with a built-in 5G gateway, and a compact 5G Femto solution for indoor and fragmented coverage scenarios. In the Distributed Antenna System (DAS) segment, the company introduced the H3RU, supporting 700-4200 MHz wideband coverage, and the N3 Plus, a compact system with multiband MIMO ORAN architecture.

The upgrade of Sunwave’s Singapore IHQ is expected to enhance localised support, solution validation, and cross-regional coordination, improving responsiveness and delivery efficiency across APAC markets. Sunwave’s debut at GITEX Asia marks a further step in expanding its regional footprint, with a continued focus on enabling fast, flexible, and sustainable connectivity solutions.

Singapore’s economy demonstrated resilience in the first quarter of 2026, achieving a 4.6% year-on-year growth despite facing increased imported cost pressures, according to the SGX Research report. This growth aligns with businesses prioritising margin protection and operational resilience in a challenging global environment. The Monetary Authority of Singapore (MAS) has adjusted the rate of appreciation of the Singapore dollar to counter rising energy costs and broader price pressures.

In April, net institutional inflows into Singapore stocks were led by the Industrials, Technology, and Utilities sectors. Within Technology, companies involved in semiconductor manufacturing and testing, such as AEM Holdings and UMS Holdings, saw significant inflows. Sembcorp Industries emerged as a leader in net institutional inflows, whilst Oiltek International recorded the highest share-price gains among the top 30 stocks with substantial institutional interest.

Sembcorp Industries, with its extensive energy platform, is nearing its consensus target price of S$6.92. The company boasts around 28 gigawatts of gross capacity, including renewable energy projects and a critical gas generation platform. This capacity provides cash-flow visibility across regions such as Singapore, South Asia, and the UK.

Oiltek International’s share price surged to over S$2.00, driven by improved liquidity and a significant agreement for a Sustainable Aviation Fuel facility in Sabah. This agreement, valued at US$350m, is expected to boost Oiltek’s order book significantly, pending regulatory approvals and financing.

These developments highlight Singapore’s strategic focus on sectors with tangible output and resilience, positioning the economy to navigate external challenges effectively.

Yangzijiang Maritime Development Ltd. has announced the successful securing of leasing agreements for 13 vessels, including 12 oil, chemical, and product tankers, and one anchor handling tug supply (AHTS) vessel. These agreements, with durations ranging from one to eight years, collectively amount to a contract value of US$89.8m. This strategic move is expected to bolster the company’s financial performance over the lease periods.

The company, known for its distinctive structural cost advantages and deep shipbuilding expertise, aims to optimise investment returns through disciplined asset selection and prudent credit risk management. The leasing agreements are anticipated to generate recurring income, contributing positively to the Group’s financial results, provided no unforeseen circumstances arise.

Yangzijiang Maritime’s robust business model is supported by its extensive international maritime network, allowing it to capitalise on favourable maritime market conditions. The company leverages strategic connections with Chinese shipyards to secure newbuild slots at discounted prices, enabling it to procure vessels up to 20% below prevailing market rates.

Ren Yuanlin, Executive Chairman and CEO of Yangzijiang Maritime, highlighted the resilient outlook for the maritime industry, driven by structural shifts in trade dynamics and geopolitical tensions. He noted, “The contraction in constrained shipyard capacity and sustained demand from global trade flows have necessitated a vital fleet renewal cycle.”

With a growing fleet of 85 vessels, including newbuilding orders, Yangzijiang Maritime is well-positioned to seize opportunities in the global maritime industry, supported by a strong financial position and a net cash reserve of US$400.4m as of 31 December 2025.

Huttons Asia has provided insights into the recent bidding for the Miltonia Close Executive Condominium (EC) site, where Hoi Hup Realty Pte Ltd emerged as the top bidder with an offer of $732 per square foot per plot ratio (psf ppr). This marks the first EC site in the area since 2014, when two parcels at Yishun Street 51 were sold and developed into Signature at Yishun and The Criterion, both of which have seen significant gains since their 2015 launch.

The demand for ECs remains robust, as evidenced by the successful sales of Coastal Cabana and Rivelle Tampines. Many first-time buyers are now favouring EC units over Build-To-Order (BTO) flats for a better lifestyle. With over 4,000 flats in Yishun set to fulfil their five-year Minimum Occupation Period (MOP) between 2025 and 2027, a substantial pool of potential buyers is anticipated for the Miltonia Close EC.

Mark Yip, CEO of Huttons Asia, noted that if the income ceiling for ECs is raised, it could further expand the pool of eligible buyers. Yishun is currently undergoing significant transformation, which is expected to benefit residents in the long term. Plans are underway to revitalise train stations on the North-South line, with Yishun as the pilot project.

Although the Miltonia Close site is not directly adjacent to an MRT station, it is a short bus ride from Khatib MRT, where a new mall is planned at Chencharu Close. The site is also near a new housing precinct by Lower Seletar Reservoir, promising more amenities in the future.

Singlife has partnered with Singapore Management University (SMU) to advance research on retirement readiness and develop actuarial science talent in Singapore. This collaboration, formalised through a Memorandum of Understanding, was announced at the launch of SMU’s Longevity Societies and Economies Institute on 14 April 2026. The initiative seeks to address the challenges posed by Singapore’s rapidly ageing population by focusing on retirement adequacy and the financial needs arising from increased healthcare costs and longer lifespans.

The partnership will leverage SMU’s academic expertise and Singlife’s industry insights to produce a joint white paper by the second half of 2027. This research aims to provide practical solutions for Singaporeans facing retirement challenges. According to the Singlife Financial Freedom Index 2024, 71% of respondents lack confidence in their ability to retire at their desired time, with a significant gap between expected retirement expenses and current savings.

In addition to research, the collaboration will explore opportunities to nurture future actuarial talent through scholarships, internships, and training initiatives. This effort is part of a broader strategy by SMU’s Longevity Societies and Economies Institute to foster partnerships across various sectors to tackle complex societal issues.

Debra Soon, Group Head of Brand, Communications, Marketing and Experience at Singlife, emphasised the importance of combining customer insights with academic rigour to address evolving retirement needs. Dr. Cheong Wei Yang, Interim Co-Director of SMU LSEI, highlighted the partnership’s role in shaping the perspectives of future actuarial talent and enhancing financial security in retirement.

This collaboration underscores the necessity of a multi-faceted approach to address the challenges of a super-aged society, aiming to improve retirement adequacy and support ageing well in place.

Savills Singapore has increased its 2026 investment sales forecast to a range of S$35b to S$40b, up from S$34b, citing strong market performance and continued capital inflow. In the first quarter of 2026, investment sales surged to S$11.48b, marking a 3.5% increase from the previous quarter and a 95.4% rise year-on-year. This represents the highest quarterly sales since 2013, driven by developers replenishing land banks and a revival of private capital.

The office and retail sectors are expected to remain resilient through 2026, supported by stable income profiles and improved investor sentiment in a low-interest-rate environment. Key transactions in Q1 included the sale of 78 Shenton Way for S$600m to S$630m and Bukit Panjang Plaza for S$428m, indicating renewed confidence in these assets.

The industrial sector also saw significant growth, with investment sales reaching S$2.94b, a 38.1% increase from the previous quarter. Notably, UI Boustead REIT launched its IPO with a portfolio of 23 assets valued at approximately S$1.36b.

Jeremy Lake, Managing Director of Investment Sales & Capital Markets at Savills Singapore, expressed optimism for continued strong investment activity, citing genuine market participants and low borrowing costs. Alan Cheong, Executive Director of Research and Consultancy, highlighted Singapore’s position as a stable market likely to attract increasing investment despite global uncertainties.

RHB Bank has announced it is maintaining its forecast for Singapore’s GDP growth at 3.0% for 2026, despite recognising potential downside risks that could see growth dip to 2.5%. The bank’s Group Chief Economist and Head of Market Research, Barnabas Gan, highlighted that ongoing geopolitical tensions could further impact growth, potentially reducing it to between 1.0% and 1.5% in a more adverse scenario.

The Monetary Authority of Singapore’s (MAS) recent decision to “slightly” steepen the Singapore Dollar Nominal Effective Exchange Rate (S$NEER) slope was interpreted by RHB as an increase in the appreciation rate to 1.0%, up from 0.5%. This move is expected to remain unchanged in July, although further tightening could occur if tensions in the Middle East continue to elevate global energy prices.

Singapore’s GDP expanded by 4.6% year-on-year in the first quarter of 2026, a slowdown from the 5.7% growth seen in the fourth quarter of 2025. This performance fell short of Bloomberg’s consensus estimate of 5.8% and RHB’s own projection of 5.3%. Gan’s analysis underscores the challenges facing Singapore’s economy amidst global uncertainties.

The report suggests that whilst the current policy settings are likely to remain stable in the short term, the balance of risks could necessitate adjustments later in the year. This outlook reflects the complex interplay of domestic and international factors influencing Singapore’s economic trajectory.

Midea Building Technologies, a division of Midea Group, and Keppel Ltd.’s Infrastructure Division have announced a strategic partnership to develop AI-enabled, energy-efficient cooling solutions across Asia. The agreement, signed on 14 April 2026, was witnessed by Cindy Lim, CEO of Keppel’s Infrastructure Division, and Peter Guan, Vice President of Midea Group and President of Midea Building Technologies.

The collaboration aims to leverage Midea’s expertise in heating, ventilation, and air conditioning manufacturing alongside Keppel’s Cooling-as-a-Service (CaaS) and digital optimisation capabilities. Together, they plan to co-develop standardised, modular cooling systems that promise enhanced energy efficiency and adaptability across various projects in the region.

This partnership is significant as it addresses the growing demand for sustainable and efficient cooling solutions in Asia, a region experiencing rapid urbanisation and increasing energy consumption. By integrating AI technology, the systems are expected to optimise energy use, reduce operational costs, and contribute to environmental sustainability.

Peter Guan highlighted the potential impact of this collaboration, stating, “This partnership will enable us to deliver innovative cooling solutions that meet the evolving needs of our customers in Asia.” Cindy Lim added, “By combining our strengths, we aim to set new standards in energy-efficient cooling.”

As the partnership progresses, both companies anticipate expanding their reach and influence in the Asian market, potentially setting a precedent for future collaborations in the energy sector.

The Monetary Authority of Singapore (MAS) announced a pre-emptive tightening of its monetary policy in the April 2026 Monetary Policy Statement (MPS), released on 14 April. The central bank increased the slope of the Singapore dollar nominal effective exchange rate (S$NEER) policy band from an estimated 0.5% per annum to 1.0% per annum, a move aligned with Bloomberg consensus and UOB’s expectations. This adjustment aims to address potential imported inflation pressures.

MAS has revised its 2026 core and headline inflation forecasts to a range of 1.5% to 2.5%, up from the previous 1.0% to 2.0% forecast in January. The policy statement reflects a greater confidence in the inflation outlook compared to growth, noting that global energy prices are expected to remain elevated due to ongoing geopolitical tensions and supply chain disruptions.

The decision comes amidst a backdrop of significant uncertainty in the global economic environment, particularly concerning shipping flows through the Strait of Hormuz. MAS highlighted that energy supply shortfalls and higher input costs could impact energy-dependent industries such as petrochemicals and transport. Additionally, growth in Singapore’s major trading partners is anticipated to weaken, further affecting the local economy.

UOB has downgraded its full-year 2026 GDP growth forecast for Singapore to 2.5%, down from a previous estimate of 3.6%. The bank anticipates that MAS may further tighten monetary policy in the October 2026 MPS, potentially advancing the move to July.

The S$NEER index fell by approximately 15 basis points following the policy announcement, reflecting some profit-taking as more aggressive monetary policy actions did not materialise. MAS reiterated its readiness to curb excessive volatility in the S$NEER, underscoring the heightened uncertainty in the current economic landscape.