Industry News

Porsche Asia Pacific and the Institute of Technical Education (ITE) have signed a Memorandum of Understanding (MoU) to collaborate on sustainable mobility and next-generation automotive technologies. This five-year partnership aims to equip students and educators with industry-relevant skills, aligning with Singapore’s shift towards electrified mobility.

The collaboration will focus on key areas such as high-voltage battery technology, electric vehicle diagnostics, and digitalisation. Students will benefit from internships at Porsche Singapore and potential overseas attachments at Porsche’s regional facilities, including the assembly facility in Kedah, Malaysia. These opportunities provide a rare glimpse into top-level automotive production and technical innovations.

ITE educators will also gain from this partnership. Recently, two lecturers from ITE College West participated in specialised high-voltage battery training at the Porsche Service Centre in Singapore, gaining insights into Porsche’s unique EV battery repair concept.

Porsche will further support ITE by donating a Macan Electric for training purposes and sponsoring Book Prizes and Achiever Awards for top-performing students. Hannes Ruoff, CEO of Porsche Asia Pacific, emphasised the importance of equipping young talents with strong technical foundations and real-world exposure. Peter Lam, CEO of ITE, highlighted the partnership’s role in keeping students and educators at the forefront of emerging technologies, empowering them to shape the future of Singapore’s automotive industry.

Global healthcare brand Raydel has introduced its flagship product, Raydel Policosanol 10, to the Singaporean market. Known as the leading policosanol brand in South Korea and Japan, the product aims to support cardiovascular health by maintaining healthy cholesterol and blood pressure levels. This launch marks a significant step for Raydel as it expands its presence in the region.

Raydel Policosanol 10 is formulated to enhance the quality and function of High-Density Lipoprotein (HDL), often referred to as “good cholesterol.” The product is designed for individuals seeking to manage their cardiovascular wellness amidst busy lifestyles. With just one tablet daily, users can support healthy cholesterol levels, whilst two tablets daily also aid in maintaining healthy blood pressure.

The product’s unique selling point lies in its Cuban origin, being 100% naturally derived from Cuban sugarcane wax. This authenticity sets it apart from generic alternatives, offering unmatched quality rooted in Cuban scientific heritage. Raydel Policosanol 10 is backed by over 30 years of scientific research and is manufactured under strict Australian Good Manufacturing Practice (GMP) standards, ensuring a premium supplement for consumers.

To celebrate the launch, Raydel is offering the first 300 members who sign up on their official online store S$20 in store credits. Founded in 1986 in Sydney, Australia, Raydel continues to provide evidence-based wellness solutions across global markets, including Singapore, South Korea, Australia, and Japan.

AJJ Medtech Holdings Limited, a leader in healthcare technology, has announced a significant four-year supply contract worth approximately S$3m with a network of Singapore healthcare institutions. The contract, commencing on 1 June 2026, involves the provision of biodegradable medical consumables, aligning with the company’s long-term sustainability strategy.

The agreement, which includes an initial two-year term with an option to extend for another two years, strengthens AJJ Medtech’s position within Singapore’s institutional healthcare ecosystem. This contract is part of a series of institutional tenders recently secured by AJJ Healthcare, a wholly owned subsidiary of AJJ Medtech. With these agreements, the group’s total contracted institutional revenue pipeline now exceeds S$8m.

The focus on biodegradable consumables supports healthcare institutions in adopting environmentally responsible procurement practices. According to William Ong, CEO of AJJ Healthcare, the partnership marks “tangible progress in our ESG-led growth,” helping healthcare partners transition from conventional plastics to biodegradable alternatives.

The contract is expected to avoid more than 600 tonnes of fossil-based CO₂ emissions annually, equivalent to removing over 100 passenger vehicles from the road each year. This aligns with AJJ Medtech’s broader Environmental, Social, and Governance (ESG) commitments.

Whilst the contract is not anticipated to materially impact the company’s Net Tangible Assets or Earnings Per Share for the current financial year, it is expected to contribute positively to the group’s financial performance over the contract’s duration. AJJ Medtech continues to expand its portfolio, including higher-value healthcare solutions such as robotics and intelligent applications, further solidifying its role as a sustainable healthcare solutions provider.

OKP Holdings Limited has been awarded a significant contract valued at S$87.3m by the Land Transport Authority (LTA) for the development of commuter infrastructure around the Jurong Region Line in Singapore. The 60-month contract, which began in February 2026, involves the design and construction of covered linkways, cycling paths, footpaths, and roadworks near the upcoming stations.

The contract, executed by OKP’s subsidiary Or Kim Peow Contractors, aims to provide sheltered connectivity for pedestrians and commuters. It also includes the reconstruction and modification of existing infrastructure such as retaining walls, drains, and street furniture. This project boosts OKP’s net construction order book to S$627.2m, with projects extending to 2031.

Or Toh Wat, Group Managing Director, expressed gratitude for the LTA’s confidence in OKP’s engineering capabilities. He stated, “This project places us at the heart of Singapore’s next phase of rail expansion. We are excited to contribute to this wider public transport ecosystem to strengthen connectivity and improve accessibility for residents, businesses and communities in the west of Singapore.”

OKP has a history of successful collaborations with the LTA, having previously secured contracts for cycling path networks across Singapore. The company, listed on the Singapore Exchange since 2002, specialises in infrastructure projects and has diversified into property development and investment. The new contract underscores OKP’s role in enhancing Singapore’s transport infrastructure and aligns with the nation’s long-term sustainability goals.

Frasers Property Limited has announced the appointment of Tony Lombardo as Group Chief Operating Officer, effective 1 October 2026. Lombardo will report to the Group Chief Executive Officer and will be based in Singapore. His role will involve leading Group Investments and Frasers Property Capital, focusing on cross-portfolio optimisation and disciplined capital deployment.

Lombardo’s appointment is seen as a strategic move to enhance coordination across Frasers Property’s major platforms and key markets, including Industrial and Logistics, as well as the Group’s operations in Australia and the UK. This is aimed at supporting scalable and sustainable growth. Panote Sirivadhanabhakdi, Group CEO, expressed confidence in Lombardo’s ability to strengthen the leadership team, stating, “Tony’s leadership and expertise across strategy, finance, investments, and capital management will accelerate the execution of our strategic priorities.”

With nearly 30 years of international experience in real estate development and investment management, Lombardo brings a wealth of knowledge to Frasers Property. He has previously held senior roles at Lendlease, GE Capital, and GE Corporate, and began his career at KPMG. Lombardo expressed his enthusiasm for joining Frasers Property, noting the alignment with the Group’s values and its commitment to long-term partnerships.

Frasers Property, a multinational investor-developer-operator of real estate products, is listed on the Singapore Exchange and has a diverse portfolio across Southeast Asia, Australia, Europe, and China. The Group is committed to sustainability and aims to be a net-zero carbon corporation by 2050.

M45 Capital Partners, a Singapore-based multi-asset investment platform, has announced the appointment of Gordon Yeo as Partner and Head of Public Equities and Fundamental Research. Yeo, who brings over 14 years of experience from Arisaig Partners, will lead M45’s public equities platform and oversee the development of the M45 Global Compounder Fund. This fund is an unconstrained global public equity strategy aimed at long-term capital allocation.

Yeo’s role will also involve integrating insights across public markets, private investments, and credit, reinforcing M45’s cross-asset investment philosophy. His appointment is expected to deepen the firm’s sector and company-level research capabilities, enhancing its ability to identify and execute direct and co-investment opportunities.

Jason Kang, Founding Partner and Chief Investment Officer of M45 Capital Partners, expressed enthusiasm about Yeo’s addition, stating, “He brings deep institutional investing experience, a rigorous research mindset, and a long-term approach to capital allocation that aligns closely with the philosophy we are building at the firm.”

Yeo commented on his new role, saying, “M45 is building an investment platform centred on disciplined capital compounding and thoughtful risk management across cycles. By combining deep company research with insights drawn from both public and private markets, we believe we can develop a differentiated approach to long-term capital allocation for our partners.”

M45 Capital Partners plans to expand its investment team further, investing in talent and infrastructure to support its ambition of delivering a differentiated institutional-grade investment platform for families and long-term investors across Singapore and the broader region.

UQPAY, a Singapore-based fintech company, has unveiled a comprehensive payment platform designed to integrate traditional finance with stablecoin-based systems. This dual-rail full-stack infrastructure aims to simplify global commerce by unifying global acquiring, global accounts, card issuing, and stablecoin accounts into a single, compliance-ready ecosystem. The platform supports operations in 200 markets and 140 currencies, addressing the complexities of cross-border commerce by consolidating the payment lifecycle into one system.

The platform offers a range of features including global acquiring for online and in-store payments, a global account infrastructure with multicurrency accounts, cross-border payouts via local clearing networks and SWIFT channels, card issuing with spending controls, and stablecoin account infrastructure for fiat-to-crypto flows. A single API integration allows businesses to centralise payment orchestration, liquidity management, and reconciliation processes.

Jack Li, CEO and Founder of UQPAY, stated, “Our infrastructure removes the need for businesses to manage separate systems for fiat and stablecoin payments.” This integration is particularly beneficial as stablecoins gain traction in global trade, offering faster settlements and reduced cross-border friction.

UQPAY’s platform is tailored for high-growth sectors such as cross-border e-commerce, SaaS, gaming, online education, and Web3-native companies. It ensures compliance and security with features like 3D Secure authentication and real-time transaction notifications. The platform is now globally available, with flexible onboarding plans for startups to large enterprises.

A recent survey by the Association of Chartered Certified Accountants (ACCA) reveals a significant rise in entrepreneurial aspirations among women in Singapore’s finance sector. According to early findings from ACCA’s Global Talent Trends 2026 report, 42% of women in finance and accountancy now aim to become entrepreneurs, a notable increase from 31% the previous year.

The survey, which gathered insights from over 11,000 finance professionals across 175 countries, highlights a growing confidence among women to leverage their financial expertise for business ownership. This trend is particularly strong among younger professionals, with half of Generation Z and Millennial women expressing entrepreneurial ambitions.

Helen Brand, ACCA’s chief executive, remarked, “Entrepreneurship represents economic empowerment in action. The number of women aspiring to business ownership is an encouraging signal that finance and accountancy skills are equipping women not only to lead within organisations, but to build enterprises of their own.”

The data suggests that accountancy is increasingly viewed as a foundation for entrepreneurship, with over half of respondents recognising their finance background as advantageous for starting a business. This shift is most evident in emerging markets, where entrepreneurship is often seen as a route to economic mobility and societal impact.

Daniel Leung, ACCA’s country head for Singapore, noted, “The drive towards entrepreneurship is especially evident among younger finance professionals. They see accountancy as more than a technical discipline; it is a launchpad for innovation, independence, and impact.”

As International Women’s Day 2026 approaches, these findings underscore the evolving role of accountancy in fostering economic empowerment and highlight the importance of supporting women’s entrepreneurial potential for broader economic growth.

Marco Polo Marine has successfully raised S$21m through a private placement to fund its business expansion, with marine industry veteran Michael Kum increasing his investment via Halom Investments. Kum’s total shareholding now stands at approximately 225 million shares, translating to a 5.77% interest in the company.

The investment highlights confidence in Marco Polo Marine’s strategic positioning and growth potential in the offshore wind and marine logistics sectors. CEO Sean Lee expressed his appreciation, stating, “We are honoured that Michael Kum has chosen to increase his stake in Marco Polo Marine. His decision to further invest in our company is the strongest possible validation of our strategic direction, operational excellence, and the growth potential we are unlocking in both the offshore oil and gas and renewable energy sectors.”

Kum’s extensive experience in the maritime industry is seen as a valuable asset to the company. Lee added, “His unparalleled experience in building and scaling offshore maritime business is perfectly aligned with our core operations. We believe his insights will be invaluable as we navigate the next chapter of our growth.”

This strategic move is expected to bolster Marco Polo Marine’s capabilities in the offshore wind and marine logistics markets, paving the way for future growth and development.

River Modern, a new residential development in River Valley Green, has sold 90% of its units during its launch weekend, according to PropNex CEO Kelvin Fong. The development’s success highlights the sustained demand for quality projects in Singapore’s Core Central Region (CCR), driven by attractive pricing and strategic location.

The project features 455 units, with two-bedroom units starting at $1.548m and four-bedroom units priced from $4.588m. The pricing strategy, particularly for the two- and three-bedroom units, falls within the $1.5m to $2.5m range, appealing to many buyers. The development offers a variety of unit sizes, from two-bedroom units measuring 538-689 sq ft to four-bedroom units spanning 1,464-1,830 sq ft.

River Modern’s location provides direct access to Great World MRT station on the Thomson-East Coast Line, enhancing connectivity to key commercial areas like Orchard Road and Marina Bay. The proximity to Great World mall and the Orchard Road shopping district adds to its appeal. Additionally, many units offer views of the Singapore River, a rare feature that further boosts the project’s attractiveness.

The launch serves as an indicator of market sentiment amidst geopolitical uncertainties, reflecting the resilience of Singapore’s property market. Upcoming projects in Q2 2026, such as Rivelle Tampines EC and Pinery Residences, are expected to benefit from this positive trend.