Industry News

ST Telemedia Global Data Centres (STT GDC), headquartered in Singapore, has announced significant expansion milestones at its Jakarta data centre campus, including the launch of STT Jakarta 2 and the development of STT Jakarta 5 and 6. This expansion aims to deliver over 360MW of AI-ready IT capacity to support Indonesia’s burgeoning digital economy, projected to reach $130b by 2026. The initiative is driven by the increasing demand for cloud, AI, and digital infrastructure in the region.

The expansion of the Jakarta campus is designed to support high-density, AI-ready workloads and includes next-generation platforms with liquid cooling readiness. This development reflects STT GDC’s commitment to investing in scalable, high-performance digital infrastructure to meet Indonesia’s growing needs.

In parallel, STT GDC is focusing on talent development and community impact. The company has partnered with ATMI Cikarang to establish a Data Centre Laboratory Learning Centre in West Java, offering hands-on training with industrial-grade equipment. The programme includes globally recognised certification and structured internships, with student placements lasting up to 10 months within STT GDC’s operations.

Additionally, STT GDC is investing in community initiatives around its Jakarta campus. This includes the development of a badminton facility for 10,000 residents in Cikarang and environmental programmes like mangrove planting, benefiting over 150,000 villagers. These efforts aim to ensure that digital infrastructure development contributes positively to local communities.

Hendrikus Hendra Gozali, Country Head of STT GDC Indonesia, stated, “Our initiatives are designed to bridge the gap—equipping local talent with industry-relevant skills whilst ensuring that communities benefit meaningfully from the growth of the digital economy.” As STT GDC continues its expansion, these initiatives underscore its commitment to fostering inclusive growth and supporting Indonesia’s digital ecosystem.

Bank of Singapore has announced the appointment of Lim Leong Guan as Head of Private Banking for the Middle East, South Asia, and International, effective 1 July 2026. Based in Dubai, Lim will also serve as Chief Executive of the Dubai International Financial Centre Branch, pending regulatory approval. This move is part of the bank’s strategy to expand its ultra-high-net-worth (UHNW) segment, which saw a 9.4% growth in 2025, according to Capgemini Research Institute.

Lim, a veteran with 35 years in private banking, joined Bank of Singapore in 2020 and has been pivotal in doubling the assets under management (AUM) for the Financial Intermediaries segment. His leadership will be crucial as the bank aims for a 30% increase in UHNW AUM globally by 2028. Lim’s previous roles include Global Head of Financial Intermediaries, Family Office and Wealth Advisory, and Global Head of Products at Bank of Singapore. He also spent 25 years at UBS Wealth Management in senior roles.

Alongside Lim, Rickie Chan and Vi Sun Yang will drive the UHNW strategy in Greater China, North Asia, and ASEAN, respectively. Annabelle Chow will lead the Financial Intermediaries business globally, reporting to Yang. Chow has been instrumental in tripling the size of the FIMs team across Singapore, Hong Kong, and Dubai.

Bank of Singapore CEO Jason Moo expressed confidence in Lim’s ability to capture market opportunities, stating, “LG is a seasoned private banker with a proven track record.” The bank’s focus on UHNW and FIM segments is expected to be a key driver for its next phase of growth.

Applied Materials has officially launched its Tampines Campus in Singapore, marking a US$500m (S$600m) expansion of its manufacturing and research and development operations. This significant investment more than doubles the company’s advanced cleanroom capacity in Singapore, reinforcing its global manufacturing presence. The expansion is part of Applied Materials’ Singapore 2030 plan, which aims to enhance global manufacturing and R&D capabilities, broaden technology partnerships, and promote local workforce development. The company anticipates creating approximately 1,000 new local jobs over the next few years.

In conjunction with the campus opening, Applied Materials announced strategic partnerships with the National University of Singapore (NUS) and the Singapore Institute of Technology (SIT) to cultivate AI-ready talent for the semiconductor industry. The collaboration with NUS will focus on accelerating semiconductor process development through AI, addressing bottlenecks in chipmaking. NUS will also introduce a new specialisation in Applied AI for Materials and Process Engineering within its Master’s programme in 2026.

Meanwhile, the partnership with SIT includes the establishment of The Applied Materials Professorship and Scholarship, supported by a S$3m endowed gift. Professor Stefan Winkler has been appointed as the inaugural Applied Materials Professor, focusing on advancing semiconductor technologies, AI, and robotics. The scholarship will support engineering undergraduates from financially disadvantaged backgrounds, aiming to develop a skilled workforce equipped with competencies in semiconductor manufacturing and advanced automation.

Brian Tan, Regional President of Applied Materials, emphasised the importance of talent in the evolving semiconductor landscape, stating, “We are committed to creating more pathways for students to develop the skills needed to thrive in this industry.” These initiatives underscore Applied Materials’ commitment to strengthening its global manufacturing and R&D capabilities as demand for semiconductors continues to grow.

Singlife has been announced as a main sponsor for Mediacorp’s broadcast of the FIFA World Cup 2026 in Singapore, running from 12 June to 20 July 2026. This partnership will see Singlife’s new television commercial, “The Finals”, aired during live and repeat telecasts of the matches on mewatch and Channel 5. The commercial, themed around life’s unpredictability akin to football, underscores the importance of Long-Term Care planning and financial resilience.

Mediacorp, the official broadcast rights holder, will provide access to all 104 matches and official ceremonies via mewatch and partner platforms. This year marks a significant increase in free-to-air coverage, with 28 matches available on Channel 5 and mewatch, up from nine in 2022. The FIFA World Cup 2026 is set to be the most expansive edition yet, featuring 48 teams across Canada, Mexico, and the United States.

Debra Soon, Singlife’s Group Head of Brand, Communications, Marketing and Experience, expressed enthusiasm for the sponsorship, stating, “We’re proud to bring it to as many Singaporeans as possible, just as we did four years ago, to uplift local talent and enthusiasts through the love of the sport.”

Beyond football, Singlife continues to support Singapore sports, including Netball and Wheelchair Rugby. The company recently renewed its partnership with Netball Singapore and sponsors the Wheelchair Rugby Association Singapore, aiming to foster inclusivity and resilience in the sporting community.

HC Surgical Specialists Limited, listed on the Catalist of the Singapore Exchange, has acquired a 51% stake in NYK Endoscopy and Digestive Centre Pte. Ltd. for S$750,000. The acquisition, completed on 8 June 2026, marks a strategic expansion in the company’s endoscopic services, aligning with its focus on general surgery and endoscopy.

NYK Endoscopy, incorporated on 2 June 2026, is set to enhance HC Surgical’s offerings with its provision of endoscopic procedures. The centre will be managed by Dr. Ng Yi Kang, a seasoned gastroenterologist and hepatologist with over 15 years of experience. Dr. Ng, who will oversee operations for at least 11 years, brings expertise in disorders of gut-brain interaction, GERD, and advanced gastrointestinal physiology testing.

Dr. Heah Sieu Min, CEO of HC Surgical, expressed enthusiasm about the acquisition, stating, “We are delighted to welcome Dr. Ng to the Group, as we continue on our expansion in the endoscopic field, to serve the needs of our patients in view of the ageing population in Singapore.”

Dr. Ng also shared his excitement, saying, “I am excited to join HC Surgical Specialists and look forward to contributing to the Group’s commitment towards delivering high-quality, evidence-based and patient-centred care in gastroenterology and digestive health.”

The acquisition will be financed through internal resources and/or bank borrowings. HC Surgical plans to acquire the remaining 49% of NYK Endoscopy at a later date, further solidifying its position in the medical services sector.

The inaugural Singapore Data Festival (SDF) is set to take place from 20 to 24 July 2026 at the Sands Expo & Convention Centre, Marina Bay Sands. Organised by the Personal Data Protection Commission (PDPC) and Infocomm Media Development Authority (IMDA), the event will gather over 2,000 data and AI leaders to explore key issues such as data privacy, governance, and the effective use of data.

The festival aims to address the challenges posed by the rapid adoption of AI, which has led to increased collection and utilisation of personal data by companies. It seeks to empower businesses to use data responsibly whilst generating business value. The event will focus on three main areas: building trust in Singapore’s data ecosystem, equipping companies with privacy enhancing technologies (PETs), and promoting digital responsibility in the AI era.

Notable speakers include Nimish Panchmatia, Chief Data and Transformation Officer at DBS Bank, Markham Cho, Vice President of Government Affairs and Public Policy at Google, and Royce Wee, Privacy and Data Policy Director at Meta. Attendees will have the opportunity to engage in sessions covering regulatory developments, governance frameworks, and practical guidance on PETs and AI.

The Singapore Data Festival will also feature partner events on data governance, AI cybersecurity, and sector-specific regulations. Registration is now open, and further details can be found at go.gov.sg/sdf26-media.

Ley Choon Group Holdings Limited has announced a strategic joint venture with The Tunnel Company (Aust) Pty Ltd (TTCA), marking a significant expansion in its pipe-laying business. The joint venture company, Ley Choon TTC (Aust) Tunnelling International Pte. Ltd., was incorporated in Singapore on 8 June 2026, following the agreement between Ley Choon’s subsidiary, Ley Choon Constructions and Engineering Pte Ltd, and TTCA.

The newly formed joint venture aims to engage in pipe jacking operations both in Singapore and internationally. Ley Choon holds a 51% stake in the joint venture, whilst TTCA holds the remaining 49%. The board of directors will comprise five members, with Ley Choon appointing three and TTCA two.

TTCA, an Australian company established in March 2024, specialises in trenchless infrastructure construction, including micro tunnelling and pipe jacking. Its sole director, Tony Guinan, brings 32 years of industry experience. This collaboration allows Ley Choon to leverage TTCA’s expertise and resources, potentially enhancing project execution and long-term shareholder returns.

The joint venture is funded through Ley Choon’s internal resources and is not expected to materially impact the company’s earnings per share or net tangible assets for the financial year ending 31 March 2027. The Board believes this partnership will diversify and grow Ley Choon’s business, aligning with the company’s long-term strategic interests.

The Singapore Institute of Technology (SIT) has unveiled two significant initiatives in collaboration with Applied Materials to enhance Singapore’s semiconductor talent pipeline. Announced on 10 June 2026, these initiatives coincide with the opening of Applied Materials’ new campus in Tampines and are supported by a $3m endowed gift.

The first initiative, the Applied Materials Professorship, marks SIT’s inaugural industry-based professorship. Professor Stefan Winkler, a leading figure in AI and robotics, has been appointed to this role. His research will focus on advancing semiconductor technologies, aiming to address critical challenges such as rare defect detection and precision automation in manufacturing.

The second initiative, the Applied Materials Scholarship, is designed to support financially disadvantaged SIT Engineering undergraduates. With a $2m endowment, the scholarship will cover educational expenses, including tuition and overseas immersion programmes. Starting in the 2026 academic year, four scholarships will be awarded, increasing to at least six by 2028.

Professor Chua Kee Chaing, President of SIT, highlighted the importance of these initiatives, stating they “deepen how we connect education, applied research and industry collaboration.” Brian Tan, Regional President of Applied Materials in South East Asia, emphasised the company’s commitment to developing industry-ready talent.

These initiatives build on Applied Materials’ longstanding support for SIT, which includes bursaries and collaborative programmes. The partnership aims to create a robust pipeline of skilled professionals ready to meet the evolving demands of the semiconductor industry.

Alta Exchange, Southeast Asia’s leading securities exchange for alternative assets, and Phillip Securities have announced the relaunch of their Liquidity Programme for Income Insurance shares. This initiative, first introduced in January 2024, provides accredited investors with a structured pathway to trade shares of Income Insurance Limited, a prominent Singaporean insurer that remains unlisted on public exchanges.

The programme allows holders of Income Insurance shares to sell their shares through Phillip Securities, with trading facilitated on Alta Exchange’s platform. This collaboration leverages Phillip Securities’ extensive investor network and Alta Exchange’s digital infrastructure, licenced by the Monetary Authority of Singapore (MAS), to streamline transactions and broaden market participation.

Khai Lin Sng, CEO of Alta Exchange, highlighted the importance of the programme, stating, “The best companies are staying private longer than ever. The Liquidity Programme for Income Insurance Shares bridges that gap, combining tokenisation with a fully regulated secondary market on Alta Exchange to give Income Insurance’s eligible shareholders an orderly and digital path to liquidity on their own terms.”

Luke Lim, Managing Director of Phillip Securities, added, “As custodian and facilitating broker for this programme, PSPL is committed to supporting Income Insurance shareholders through every step of this process.”

The relaunch underscores Alta Exchange’s mission to enhance access to alternative assets through digital market infrastructure, offering a more efficient and secure trading experience for accredited and institutional investors.

Sunrate, a global payment and treasury management platform, has launched SunrateAI, a pioneering AI-native global payment infrastructure designed to automate and manage complex enterprise workflows. As traditional payment systems struggle with the demands of a real-time, multi-market global economy, SunrateAI offers a transformative approach by turning isolated payment actions into a continuously operating intelligent system.

SunrateAI aims to simplify the intricacies of cross-border B2B payments, which are often hindered by complex workflows, regulatory compliance, and dynamic foreign exchange (FX) management. Paul Meng, co-founder and CEO of Sunrate, stated, “With SunrateAI, we are defining Agentic Global Payments—introducing an intelligent ecosystem capable of autonomously navigating these enterprise complexities.”

The system features a suite of specialised agents that work as a unified system, autonomously orchestrating end-to-end workflows and optimising execution decisions in real time. Li Yilong, Head of AI at Sunrate, highlighted the significance of this innovation, stating, “Agentic Global Payments enable a fundamentally new operating model—one that is not only faster and more scalable but inherently smarter.”

Founded in 2016, Sunrate operates in 190 countries and partners with major financial institutions such as Citibank and Barclays. The launch of SunrateAI marks a significant step towards a more efficient and intelligent global payment landscape.