Industry News

Attika Group has bolstered its shareholding base by successfully placing 15.6 million vendor shares at S$0.35 each, generating a total of S$5.46m. This strategic move attracted significant interest from investors, including Areca Capital, Asdew Acquisitions, ICH Synergrowth Fund, and Lion Global Investors Limited, along with high net-worth individuals.

The sale aims to improve the liquidity of Attika’s shares on the Singapore Exchange and optimise its capital structure. Steven Tan, Managing Director and Executive Chairman of the group, noted the strong demand from both institutional and high net-worth investors, highlighting the confidence in Attika’s growth prospects and strategic direction. “The sale of the Vendor Shares serves multiple strategic objectives for the Group. By broadening our shareholding base to include new institutional and high net-worth investors, we are enhancing the trading liquidity of our shares on the Singapore Exchange, which benefits all shareholders,” he stated.

The diversified investor profile is expected to strengthen Attika’s capital structure, providing a robust foundation for continued development. Tan further emphasised that the interest from quality institutional investors validates Attika’s business model and growth trajectory. He reiterated the company’s commitment to creating sustainable value for stakeholders as it executes strategic plans and capitalises on future opportunities.

This development marks a significant step for Attika Group in reinforcing its market position and ensuring long-term growth.

Regal Rexnord has inaugurated a new office in Singapore, consolidating its operations from multiple sites into a single, modern facility. This strategic move aims to enhance collaboration among its brands, including CENTA, Jaure, Kollmorgen, Nicotra, and Falk, and streamline services for customers seeking mechanical power transmission, motion control, and automation solutions.

The new Singapore office serves as a regional hub, supporting industries such as mining, marine, logistics, and oil and gas across Southeast Asia. Singapore’s strategic location as a centre for engineering, procurement, and construction companies, original equipment manufacturers, and system integrators makes it an ideal base for Regal Rexnord’s operations in the region.

By uniting its teams under one roof, Regal Rexnord aims to provide a more cohesive and efficient service to its clients. The facility is designed to foster collaboration and customer engagement, with ample space for future growth. “Bringing our teams from across Singapore into a single space reinforces the message that we are one Regal Rexnord,” said Shih Pin Tan, Sales Director for Southeast Asia. “It allows us to provide a single localised point of contact whilst continuing to support customers with the trusted brands and expertise they rely on.”

The office was officially opened by Scott Curley, Senior Vice President of Sales and Marketing, and Shih Pin Tan. This development underscores Regal Rexnord’s long-term commitment to Southeast Asia, enhancing its ability to support the region’s diverse industrial needs.

Deloitte Singapore has unveiled its recommendations for the upcoming Singapore Budget 2026, focusing on measures to help businesses navigate global uncertainties and adapt to new international tax frameworks. The proposals include refining tax frameworks for multinational enterprises (MNEs), boosting innovation, and adjusting personal tax policies to support workforce development.

Deloitte emphasises the importance of adapting to the Organisation for Economic Co-operation and Development’s (OECD) Pillar Two framework, which impacts MNEs starting from 2025. Rohan Solapurkar, Deloitte Singapore’s Tax & Legal Leader, stated, “Tax policy becomes a strategic instrument—not merely a compliance framework but a channel through which the economy can absorb volatility and support business reinvention.”

The firm also highlights the need for Singapore to enhance its corporate tax framework to support resilience and long-term growth. Daniel Ho, Mergers & Acquisitions Tax Leader at Deloitte Southeast Asia, noted, “Budget 2026 presents an opportunity to further strengthen Singapore’s corporate tax framework in ways that support resilience, investment, and long-term enterprise growth.”

In addition, Deloitte recommends establishing a fund to assist medium-sized businesses in becoming AI-ready, alongside enhancing support for research and development (R&D) capabilities. Lee Tiong Heng, Global Investment & Innovation Incentives Leader at Deloitte Southeast Asia, suggested offering special income tax rates to attract specialised R&D talent.

As Singapore continues to position itself as a competitive investment destination, Deloitte underscores the importance of evolving the Refundable Investment Credit (RIC) to reflect global tax developments. Yvaine Gan, Global Investment & Innovation Incentives Leader at Deloitte Singapore, proposed raising the RIC support rate to 70% of qualifying expenditures to better support businesses.

These recommendations aim to bolster Singapore’s adaptability and competitiveness in an evolving global landscape.

OrangeTee (a member of Realion Group) is set to host Japan Property Day on 17 January 2026, offering Singapore buyers exclusive insights into Japan’s residential property market. The event, held at the OrangeTee Building from 10am to 6pm, will showcase new projects and renovated homes ready for immediate handover.

One of the key highlights of the event is the L’Gente Shirokane-takanawa project in Tokyo’s Minato ward, featuring 38 one- and two-bedroom units. Scheduled for launch in March 2026, prices start at  JPY 103m (approximately S$840,995). This initiative aims to provide Singapore investors with timely opportunities for both long-term growth and immediate rental income.

Steven Tan, Director of OrangeTee International, emphasised the event’s role in helping buyers understand the Japanese market, stating, “Japan Property Day is about bringing timely and tangible opportunities directly to Singapore buyers.” The event will also feature experts from Tokyu Livable, who will discuss market trends, investment districts, and key considerations for foreign buyers.

Yasuaki Nagasaka, Manager of Overseas Sales Section at Tokyu Livable, highlighted Japan’s strong urban fundamentals and transparent transaction processes, expressing enthusiasm for sharing insights with Singaporean investors.

Japan Property Day continues OrangeTee’s collaboration with Tokyu Livable, offering curated opportunities for Singapore-based investors.

The Monetary Authority of Singapore (MAS) issued a total of US$22.3m in fines in 2025, marking a staggering 579% increase from the previous year, according to data released by Fenergo. This surge is attributed to intensified enforcement against financial firms for breaches related to Know Your Customer (KYC), anti-money laundering (AML), and sanctions, following a major money laundering scandal in 2023.

The increase in fines underscores Singapore’s commitment to maintaining its status as a trusted global financial centre. MAS Deputy Chairman Chee Hong Tat recently highlighted the necessity of robust enforcement to manage the risks associated with being a global wealth hub. Rory Doyle, Head of Financial Crime Policy at Fenergo, noted, “In Singapore, enforcement action has intensified following a major money laundering scandal.”

Globally, the total value of penalties for non-compliance with AML, KYC, and related regulations fell to US$3.8 b in 2025 from US$4.6b in 2024. However, regional differences were stark, with North American fines dropping by 58%, whilst penalties in EMEA and APAC rose by 767% and 44%, respectively.

Despite these efforts, digital asset firms continue to face significant challenges, with nearly a quarter of the top ten highest-value fines involving such companies. Doyle emphasised the importance of modernising financial crime ecosystems, stating, “Firms that prioritise investment in leading-edge technology with AI at the forefront will be better positioned for the next wave of scrutiny.”

As Singapore strengthens its regulatory framework, the focus remains on reinforcing trust and ensuring compliance within its financial system.

The Singapore University of Social Sciences (SUSS) has launched a pioneering initiative to introduce dysphagia-friendly meals in mainstream restaurants, marking a significant step towards inclusive dining in Singapore. This two-day pilot programme, held on 12 and 13 January 2026 at Imperial Treasure and 5 Senses Café & Restaurant, is part of SUSS’ Dignity Dining: Age Better, Age+ Community Engagement Series. It aims to support older adults and individuals with dysphagia, a condition affecting swallowing, by offering texture-modified versions of familiar local and Chinese dishes.

The initiative addresses a pressing need, as dysphagia affects about 15% of older adults in Singapore. Whilst specialised meals are available in care settings, options in mainstream dining are scarce. By collaborating with The Project Futurus and local restaurants, SUSS seeks to bridge this gap and promote safe-swallowing practices.

Associate Professor Carol Ma of SUSS highlighted the importance of the initiative, stating, “This pilot serves to address a real and growing need and supports ageing in place by expanding inclusive dining options for individuals with dysphagia.” The programme not only provides practical solutions but also fosters social inclusion by enabling families to dine together without restrictions.

Participating restaurants have been trained to prepare and serve these specialised meals, ensuring they meet the International Dysphagia Diet Standardisation Initiative (IDDSI) standards. This effort is part of a broader movement to enhance dining experiences for Singapore’s ageing population, with potential for ongoing adoption by the restaurants involved.

Colliers has announced the sale of 12 strata retail units within Bukit Timah Shopping Centre, a mixed-use development in the Beauty World precinct. The portfolio, priced at S$40m, is available via Expression of Interest (EOI) and offers investors the flexibility to purchase the units collectively or in four separate clusters.

The 999-year leasehold portfolio spans approximately 18,223 square feet across two basement levels, with 11 of the 12 units currently tenanted, ensuring immediate income for buyers. The shopping centre boasts excellent connectivity, being a short walk from Beauty World MRT and near the upcoming Integrated Transport Hub.

The units are divided into clusters ranging from 2,142 to 11,011 square feet, with prices between S$6.15m and S$19.5m. One cluster includes the popular Buddy Hoagies diner, whilst others are anchored by education and service-oriented tenants.

The Bukit Timah precinct is undergoing significant rejuvenation, with new residential developments and infrastructure upgrades expected to enhance the area’s appeal. The shopping centre stands to benefit from increased footfall and improved tenant quality, supported by a catchment of over 85,900 residents and future developments.

Investor interest in retail assets has been growing, as evidenced by recent transactions such as City Developments Limited’s divestments. Terry Wong of Colliers Singapore noted the rarity of such opportunities in Bukit Timah, highlighting the potential for future growth and collective sale prospects. The EOI closes on 26 February 2026.

Singapore Gulf Bank (SGB) has strengthened its partnership with J.P. Morgan by joining its USD clearing network and implementing the Wire 365 service. This move allows SGB to provide uninterrupted, near real-time cross-border payment services, enhancing its clients’ ability to manage global liquidity effectively.

The collaboration marks a significant advancement for digital banking in the Middle East and North Africa (MENA) region. By integrating J.P. Morgan’s Wire 365 solution, SGB can now process USD transactions every day of the year, including weekends and public holidays. This eliminates traditional cut-off times, offering clients greater flexibility in optimising cash flows and meeting payment obligations efficiently.

Ali Moosa, Executive Vice Chairman of SGB, commented, “This collaboration is a major step forward for digital banking in the Gulf Corporation Council and further strengthens our position as the financial bridge between Asia and the Gulf.” He emphasised that joining J.P. Morgan’s global network ensures clients’ capital moves with the speed, certainty, and security required in today’s global economy.

Nawaf Humood, Executive Director at J.P. Morgan Payments, added, “We are pleased to provide Singapore Gulf Bank with the Wire 365 payment solution. This collaboration highlights SGB’s expanding position as a leading digital bank in the market.”

The partnership was formalised at a signing ceremony in Bahrain, marking another milestone for SGB, which recently launched its corporate banking service and a real-time, multi-currency clearing network. This development underscores SGB’s commitment to innovation and positions it at the forefront of digital transformation in the financial sector.

Agoda, the digital travel platform, has unveiled its latest innovation, the Booking Form Bot, an AI-powered chatbot designed to assist travellers with booking-related queries during the final stages of their reservation process. This new tool aims to streamline the booking experience by providing instant, context-aware answers to common questions, such as cancellation policies and promo code applicability, directly on the booking page.

Agoda’s internal research highlighted that 28% of users often return to the property page to verify trip details, with many pausing or exiting due to uncertainties about pricing and cancellation terms. The Booking Form Bot addresses these concerns by automatically understanding the user’s booking session, including property details and rate plans, to deliver precise and personalised responses without requiring users to navigate away from the page.

Idan Zalzberg, Chief Technology Officer at Agoda, stated, “Helping travellers stay informed at every step of their journey is central to building trust in our platform. At the booking stage, last-minute questions often arise around cancellation options or payment terms. The Booking Form Bot provides instant answers right when travellers need them, helping them book with confidence.”

This development builds on the success of Agoda’s Property AMA Bot, which handles over 30,000 hotel-related queries daily. By integrating AI technology into the booking process, Agoda continues to enhance its platform, making travel planning more intuitive for millions worldwide. Travellers can access the Booking Form Bot via the chat icon on the booking form page through the Agoda app and mobile browser.

StarHub has achieved its first-ever ‘A’ rating in the CDP’s 2025 Climate Change Assessment, marking a significant milestone in its sustainability efforts. This accolade places StarHub among a select group of global organisations recognised for their leadership in managing and disclosing climate-related risks and opportunities.

The telecommunications company has been actively working to reduce the carbon intensity of its operations, which are inherently energy-intensive due to its large-scale, always-on digital and network infrastructure. StarHub’s initiatives include enhancing energy efficiency across network sites and data centres, increasing the adoption of renewable energy, and advancing fleet and operational decarbonisation.

A key factor in achieving the ‘A’ rating was StarHub’s improved data collection and engagement with its value chain. By collaborating closely with suppliers, StarHub gathered detailed emissions data, allowing for more precise refinement of its Scope 3 emission categories. This approach is part of a broader decarbonisation and supplier engagement roadmap, anchored in science-based principles, guiding the company towards its emissions reduction targets for 2030 and 2050.

StarHub’s commitment to transparency is evident in its ongoing disclosure of progress and challenges in decarbonising its operations. In 2024, the company introduced long-term Power Purchase Agreements to boost renewable energy use, further reducing its carbon footprint.

This achievement underscores StarHub’s dedication to sustainability and positions it as a leader in climate action within the telecommunications industry.