Industry News

Shopline subsidiary, Instage Technology Pte Ltd., has secured in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence. This development enables Shopline to process payments directly for its extensive network of over 600,000 merchants, eliminating the need for third-party providers. The approval marks a significant step in Shopline’s expansion into regulated payments infrastructure, offering merchants lower fees, faster settlements, and the convenience of managing storefronts and payments on a single platform.

The MPI licence will allow Shopline to provide five regulated payment services, including Account Issuance Service, Domestic Money Transfer Service, Cross-Border Money Transfer Service, Merchant Acquisition Service, and E-Money Issuance Service. Raymond Hsu, Co-President of Shopline, stated, “This MPI licence is a key milestone in our global strategy. It highlights our commitment to meeting the highest regulatory standards whilst delivering secure, efficient, and borderless payment experiences for merchants.”

This move aligns with the ongoing trend of commerce platforms integrating licensed payments capabilities, further solidifying Singapore’s status as a regional fintech hub. By leveraging Singapore’s position, Shopline aims to empower merchants with seamless end-to-end payment solutions, facilitating international connections and accelerating cross-border growth.

Founded in 2013, Shopline is a leading Software-as-a-Service (SaaS) provider, offering a fully integrated platform for ecommerce, POS, social commerce, and more. With headquarters in Singapore and over 2,000 employees globally, Shopline continues to expand its regulatory presence in Asia and Australia, enhancing its offerings in the Asia-Pacific region.

Singapore Airlines (SIA) Group reported a 3.7% increase in passenger traffic for September 2025 compared to the previous year, outpacing a 2.5% rise in passenger capacity. This led to a 1.0 percentage point increase in the Group’s passenger load factor, reaching 87.1%. SIA and its low-cost subsidiary, Scoot, achieved monthly passenger load factors of 86.2% and 90.1%, respectively, with a combined total of 3.4 million passengers carried, marking an 8.0% increase from last year.

The Group’s cargo operations faced challenges due to Typhoon Ragasa, which affected routes to and from East Asia. Cargo capacity decreased by 0.8% year-on-year, largely due to reduced freighter aircraft activity. As a result, overall cargo loads fell by 3.8%, and the cargo load factor dropped by 1.8 percentage points to 56.2%.

By the end of September 2025, the SIA Group’s passenger network spanned 129 destinations across 37 countries and territories. SIA served 78 destinations, whilst Scoot covered 73. The cargo network included 133 destinations in 38 countries and territories.

Singapore’s semiconductor industry, which accounts for 10% of the global market share and 20% of global manufacturing capacity, relies heavily on the seamless operation of its billion-dollar fabs. OneSystems Technologies (OST), a Singapore-based systems integrator, plays a crucial role in ensuring these facilities operate efficiently, even as they undergo constant technological upgrades.

Unlike conventional factories, semiconductor fabs require continuous reconfiguration to accommodate advancements such as AI-optimised chips. This dynamic environment, often described as “live surgery,” demands uninterrupted operations, as even a brief downtime can result in significant financial losses. OST addresses these challenges by integrating operational technology, IT, safety, and process-control systems, providing fab operators with real-time monitoring and faster response times.

For a leading semiconductor client, OST’s integration of siloed networks into a unified platform led to a 20% reduction in infrastructure costs and improved system recovery times. Co-Founder and CEO Eunice Hong emphasises that the company’s success lies not only in its technology but also in its people. OST’s commitment to worker welfare, including a zero-injury record and cross-training programmes, fosters a culture of loyalty and safety.

As Southeast Asia expands its semiconductor capacity, OST is poised to export its Singapore-honed model regionally. The company is investing in AI-driven predictive maintenance, cybersecurity frameworks, and automation tools to ensure future-proof integration. This strategic move aligns with the upcoming Johor-Singapore Special Economic Zone, further solidifying OST’s role in the region’s semiconductor landscape.

September 2025 saw a significant drop in new home sales in Singapore, with only 255 units sold, marking an 88.1% decrease from August’s 2,142 units, according to CBRE Research. The decline is attributed to the absence of new launches during the Seventh Lunar Month, which spanned from 23 August to 21 September. Despite this, CBRE anticipates a strong rebound in October and November, potentially closing the year at a multi-year high.

The September sales figures bring the third quarter total to 3,337 units, more than doubling the 1,212 units sold in the second quarter. For the first nine months of 2025, sales reached 7,924 units, already surpassing the entire 2024 volume by 22.5%. This surge is supported by low interest rates and an upgraded GDP growth forecast of 1.5–2.5% for 2025.

The top-selling project in September was Canberra Crescent Residences, with 28 units sold at a median price of $2,001 per square foot (psf). Other notable projects included Grand Dunman and River Green, selling 24 and 16 units, respectively. The Rest of Central Region led sales with 125 units, followed by the Outside Central Region and Core Central Region.

Looking forward, CBRE expects a strong market recovery in October with several major launches, including Skye at Holland, which has already sold 99% of its units. Full-year sales are now projected to reach 9,000–10,000 units, exceeding previous forecasts. Private home prices, which have risen 3.1% so far, are expected to continue their upward trend, potentially matching or surpassing last year’s 3.9% growth.

Singapore’s DBS has surpassed PETRONAS to become the most valuable brand in the ASEAN region, according to the Brand Finance ASEAN 500 2025 report. The bank’s brand value soared by 56% to reach US$17.2b, marking a significant milestone in the regional brand landscape.

Brand Finance, a leading brand valuation consultancy, highlighted that PETRONAS, despite falling to second place, maintains a strong AAA- rating and a Brand Strength Index (BSI) score of 83.7 out of 100. Meanwhile, Thailand’s PTT climbed to third place with an 11% increase in brand value, now standing at US$9.2 billion.

The report also noted Malaysia Airlines as the fastest-growing brand in the ASEAN region, with its brand value tripling to US$607m. Additionally, Vinpearl from Vietnam emerged as the strongest brand in the region, boasting a BSI of 97.5 out of 100 and an AAA+ rating.

These developments underscore the dynamic shifts within the ASEAN brand landscape, with DBS’s rise reflecting its robust market strategies and regional influence. As the region continues to evolve, these brands are setting benchmarks for growth and strength in their respective sectors.

New home sales in Singapore experienced a dramatic decline in September, as developers refrained from launching new projects during the seventh lunar month. According to the Urban Redevelopment Authority (URA), sales of new homes, excluding executive condominiums (ECs), fell by 88.1% from 2,142 units in August to just 255 units in September. Including ECs, the decline was 88.5%, with sales dropping from 2,338 units to 270 units.

The lack of new launches contributed to September’s figures being the lowest monthly sales recorded this year, and the least since September 2023, which saw 217 transactions. Christine Sun, Chief Researcher and Strategist at Realion (OrangeTee & ETC), noted that all sales were from previously launched projects, with top sellers including Canberra Crescent Residences and Grand Dunman.

Despite the overall slump, the EC market showed resilience. A notable transaction was a 1,206-sq-ft EC at Aurelle of Tampines, sold for $1.54m (S$2.1m). This sale contributed to a year-to-date tally of 287 new ECs sold for over $1.47m (S$2m), significantly surpassing previous years’ records.

Looking ahead, developers are expected to launch several projects before the year-end holidays, potentially boosting sales figures. With interest rates moderating, buyers may find mortgages more affordable, encouraging market participation. New projects like the 462-unit Penrith and the 706-unit Zyon Grand are anticipated to attract interest, potentially pushing October sales to new highs. Realion forecasts that over 9,300 new homes could be sold by the end of the year, exceeding the annual sales of the past three years.

Straits Interactive has emerged as one of the three winners in Meta’s inaugural Llama Incubator Programme, a pioneering initiative in the Asia-Pacific region. The programme, launched in collaboration with the Singapore Government and e27, saw Straits Interactive outshine 25 other organisations in the start-up category. The accolade highlights the company’s leadership in integrating open-weight AI models with robust governance on its Capabara platform.

The Llama Incubator Programme invited start-ups, SMEs, and public-sector teams to develop AI solutions using Meta’s Llama models. Over six months, participants received mentorship and technical resources, with a focus on governance. From over 100 applicants, 40 organisations advanced to the incubation phase, culminating in three winners recognised for their innovative and safe AI solutions.

Straits Interactive’s CEO, Kevin Shepherdson, emphasised the company’s mission to make Generative AI accessible to non-technical professionals, ensuring safe and responsible use. The company developed a Tool Builder Wizard on Meta’s Llama Maverick model, enabling users to convert domain knowledge into AI applications. This innovation, coupled with the AI Lifecycle Optimiser, promotes transparency and accountability in AI development.

The integration of Llama models has significantly reduced the cost of running Generative AI applications on Capabara, enhancing data sovereignty and accuracy. Straits Interactive’s Reasoning-Aware AI technology further boosts model accuracy and transparency, fostering trust in AI systems.

This achievement builds on Straits Interactive’s reputation as a leader in responsible AI, following accolades such as the 2025 Singapore Business Review Technology Excellence Awards and recognition at the UK AI Pathfinder Award 2024.

In a significant move to bolster cross-border collaboration, professional bodies from Singapore and Shanghai have signed a Memorandum of Understanding (MOU) at the Sino-Singapore Forum for Empowering Enterprise Globalisation and Excellence. The agreement, signed on 15 October, involves the Institute of Singapore Chartered Accountants, the Shanghai Institute of Certified Public Accountants, the Law Society of Singapore, and the Shanghai Bar Association.

The collaboration aims to focus on three main areas: reciprocal mission trips to foster business partnerships, joint knowledge-sharing initiatives such as seminars on cross-border mergers and acquisitions (M&A) and environmental, social, and governance (ESG) reporting, and the development of a Professional Services Centre. This centre will serve as a strategic platform to integrate legal and accounting resources between the two cities.

Edwin Tong, Singapore’s Minister for Law, highlighted the importance of professional collaboration in driving enterprise globalisation. Fu’an Kong, Secretary of the Party Leadership Group, expressed excitement about the MOU, stating, “Hongqiao’s unique position as a gateway to international markets makes it an ideal base for deeper connectivity.”

The forum, organised by the Professional Services Centre, brought together representatives from accounting, legal, and business organisations. The initiative aims to create a trusted hub for professional services, enabling cross-border collaboration and access to specialised talent.

This partnership marks a new chapter in Singapore-Shanghai cooperation, positioning professional services as strategic enablers of growth and innovation. The collaboration is expected to provide enterprises with the tools needed to navigate regulatory complexities and expand confidently into international markets.

Realion, the group behind OrangeTee & ETC, has shared insights on the upcoming Build-To-Order (BTO) launches scheduled for February 2026. Christine Sun, Chief Researcher and Strategist at Realion, highlighted that the Toa Payoh project, with 1,130 units, is likely to see high application rates due to its proximity to the city centre and educational institutions. Despite its appeal, the site’s closeness to a major expressway might deter some buyers due to noise and dust concerns.

The Bukit Merah project, offering 1,040 units, is expected to attract interest due to its location near Redhill MRT station and the Central Business District. However, the recent influx of new flats in the area may moderate demand. Historical data shows a decline in application rates for similar projects, suggesting a tempered response this time.

In Tampines, the project along Tampines Central is anticipated to be highly popular, thanks to its location near the MRT station and shopping amenities. Previous launches in the area have seen substantial demand, and although the current supply of nearly 30,000 new homes might influence interest, oversubscription is still expected.

Conversely, the Tampines project along Tampines Street 22, with 280 units, may see moderate interest due to its distance from MRT stations. Meanwhile, two Sembawang projects along Admiralty Lane, offering a total of 1,920 units, might appeal to families due to their proximity to schools and shorter waiting periods. These Standard flats also feature a shorter Minimum Occupation Period, allowing quicker market exit for buyers.

Meta has successfully concluded its inaugural Llama Incubator Programme Demo Day in Singapore, marking a significant step in advancing open-source AI innovation. The event saw CREX, MyRepublic Broadband, and Straits Interactive emerge as winners, with AgriG8, IntentAI, and i-Sprint Innovations as runners-up. Public sector agencies, including the Building and Construction Authority, Land Transport Authority, and Sentosa Development Corporation, also presented their AI-powered solutions.

The programme, in collaboration with the Ministry of Digital Development and Information, Infocomm Media Development Authority, and other partners, provided startups, SMEs, and public sector teams with mentoring, technical resources, and funding. Sandhya Devanathan, Vice President of India & Southeast Asia at Meta, emphasised the company’s role as an ecosystem partner, supporting Singapore’s Smart Nation 2.0 vision by empowering local businesses and attracting startups.

More than 100 organisations participated in a foundational workshop in March 2025, with 40 selected for six months of mentoring and training on responsible AI practices. Participants developed over 30 innovative solutions across various sectors. Winning teams received $30,000 each, whilst runners-up were awarded $10,000.

Meta’s collaboration with AWS Singapore further supports participants by offering AWS credits and technical advisory. The initiative aligns with the GenAI x Digital Leaders programme by IMDA, which aims to enhance digital capabilities in AI for local enterprises. As part of its ongoing efforts, Meta has expanded its Upskill with Meta programme to help SMEs modernise and grow using AI tools.