Industry News

The Singapore Institute of Purchasing and Materials Management (SIPMM) has released the January 2026 Purchasing Managers’ Index (PMI), revealing a slight growth of 0.2 from the previous month to 50.5. The index, which measures the economic health of the manufacturing sector, registered the sixth consecutive month of growth in Singapore’s overall manufacturing sector.

The PMI is a crucial indicator for assessing the manufacturing sector’s performance. The improvement was driven by stronger expansion in new orders, new exports, and factory output. The employment index also expanded, while the input purchases index recorded slower growth rate.

SIPMM’s report highlights that the supplier deliveries index reverted to contraction, suggesting longer delivery times. The finished goods index also moved to contraction.

The future business index remained in expansion for the third consecutive month, reflecting sustained optimism.

Mooreast Holdings Ltd., a Singapore Exchange-listed company, has announced a collaboration with Sime Darby Joy Industries Sdn Bhd, a subsidiary of Sime Darby Berhad, to develop offshore and renewable energy products in Malaysia. The partnership aims to explore and fabricate products related to offshore renewable energy and deep-sea equipment, leveraging Mooreast’s technical expertise and SDJ’s fabrication capabilities.

The collaboration is driven by the increasing demand for reliable engineering solutions in floating renewable projects within Malaysia and the broader region. Mooreast, known for its mooring solutions and as Asia’s sole drag embedment anchor designer, will provide technical support and raw materials. Meanwhile, SDJ will manage the pilot fabrication, including production scheduling and logistics.

Sim Koon Lam, Executive Director of Mooreast, highlighted the potential of the partnership, stating, “Sime is one of the most well-established industrial groups in the region. The proposed collaboration will allow Mooreast to broaden its reach in Malaysia.” Scott Nicholls, Managing Director of Industrial Solutions at Sime, added, “SDJ’s long-standing expertise, combined with Mooreast’s subsea know-how, will strengthen local supply chains, create skilled jobs, and support the country’s clean-energy transition.”

This strategic partnership not only aims to enhance local supply chains but also supports Malaysia’s clean-energy transition, promising tangible benefits for customers and stakeholders in the region.

Hongkong Land Holdings Limited has announced the launch of the Singapore Central Private Real Estate Fund (SCPREF), the largest office-focused private investment platform in Singapore. With assets under management of S$8.2b (US$6.4b), SCPREF aims to acquire ultra-premium commercial properties in Singapore, bolstering Hongkong Land’s strategic goal of managing US$100b by 2035.

SCPREF’s initial portfolio includes Asia Square Tower 1, Marina Bay Financial Centre Towers 1 and 2, Marina Bay Link Mall, One Raffles Quay, and One Raffles Link, collectively representing 2.6 million square feet of net lettable area. The fund’s perpetual open-end structure is designed to attract long-term institutional capital, with founding investors including Qatar Investment Authority and APG Asset Management.

Michael Smith, Chief Executive of Hongkong Land, stated, “In launching the Singapore Central Private Real Estate Fund, we again demonstrate our ability to execute our strategy through recycling capital to create shareholder value.”

The fund’s establishment marks a significant step in Hongkong Land’s capital management business, aiming to expand its investment platform and attract institutional capital. SCPREF also aligns with sustainability goals, featuring assets certified under Singapore’s BCA Green Mark standards.

The launch of SCPREF, alongside the sale of Marina Bay Financial Centre Tower 3, has generated US$1.3b in capital for Hongkong Land, contributing to its US$4b recycling target by 2027. The company has also increased its share buyback programme to US$650m, reflecting its commitment to enhancing shareholder value.

Clio, a global leader in legal AI technology, has announced the appointment of Julian Uebergang as General Manager of Enterprise for the Asia-Pacific (APAC) region. Uebergang, with over 25 years of experience in the SaaS and PaaS sectors, will spearhead the expansion of Clio’s enterprise division, targeting large-scale legal organisations and complex law firms across APAC.

Uebergang’s role will involve leading a multidisciplinary team to integrate sophisticated workflows with AI-powered analysis, aiming to reduce administrative burdens and enhance client outcomes. “My focus is on shaping a strategic direction that truly resonates with the complexities of the APAC enterprise market,” Uebergang stated. He emphasised the importance of delivering scalable solutions that bridge the gap between business and legal practice.

Previously, Uebergang served as CEO of Neota Logic Inc., where he transitioned the company to cloud-based offerings. His extensive background includes founding and exiting two companies and holding leadership roles at Australia Post and Epiq Systems. He also served as the Past President of the Australian Legal Technology Association.

Clio for Enterprise, the division Uebergang will lead, provides technology solutions for large law firms and corporate legal departments, supporting a wide range of workflows. Trusted by eight of the ten largest global law firms, Clio aims to build a technological foundation for the next era of legal service delivery.

Southeast Asia’s banks are rapidly advancing their use of artificial intelligence (AI) to drive revenue, according to new research by Dyna.Ai. The report highlights that DBS Singapore generated US$565m in AI-driven revenue from 350 use cases in 2024, with a target of US$745m by 2025. This move marks a significant shift from pilot projects to large-scale AI deployment across the region.

The research underscores the potential for AI to transform the banking, financial services, and insurance (BFSI) sector, with AI spending projected to increase tenfold globally from US$35b in 2023 to US$368b by 2032. In Southeast Asia, banks are expected to double their AI-driven revenue, capitalising on opportunities such as hyper-personalisation, which has already delivered a 6% uplift in revenue, and wealth manager co-pilots, boosting adviser sales by 20% year-on-year.

Dyna.Ai’s report identifies key factors that distinguish leading banks from their peers, including the integration of AI into workflows and the establishment of partnerships focused on measurable outcomes. Tomas Skoumal, Chairman and Co-founder of Dyna.Ai, noted, “Most banks believe they are progressing with AI, yet research shows only 10% of organisations using agentic AI are seeing significant, measurable ROI.”

The report also highlights the role of AI in addressing the US$300b ASEAN micro, small, and medium enterprise (MSME) lending gap, as well as its impact on wealth management and cross-border payments in the Middle East. As banks continue to embed AI into their operations, the focus is shifting from experimentation to accountability, with a Results-as-a-Service model emerging as a key strategy for success.

ComfortDelGro Corporation Limited has announced a significant brand refresh for its point-to-point mobility services in Singapore, unifying its offerings under the new Zig brand. This strategic move, revealed on 3 February 2026, aims to consolidate the company’s taxi, private-hire rental, payment, and ride-hailing services into a single, tech-enabled identity, enhancing its customer-centric approach.

The refreshed Zig brand marks ComfortDelGro’s evolution from being Singapore’s largest taxi operator to a comprehensive multi-service mobility platform. By integrating various services, the company seeks to provide a more seamless and flexible experience for both riders and drivers. Michael Huang, Head of Singapore Point-to-Point Mobility Business, emphasised the brand’s focus on reliability and customer choice, stating, “Zig by ComfortDelGro signals the direction we’re heading as a business – a simpler, customer-centric point-to-point ecosystem that is anchored in the reliability and trust that the people of Singapore have long associated with ComfortDelGro.”

Key elements of the Zig brand include a vibrant new visual identity, featuring energetic colours and a dynamic logotype, alongside the empowering tagline, “Time to Zig.” This rebranding effort is designed to inspire commuters to choose how they move throughout the day, offering a range of options from standard taxis to executive limousines.

The refreshed brand identity will be gradually rolled out across ComfortDelGro’s point-to-point mobility operations, reinforcing its commitment to innovation and operational excellence. As the company continues to expand its services, Zig aims to empower both drivers and riders with greater freedom and choice in their daily commutes.

Deloitte’s latest “State of AI in the Enterprise” report reveals that Singapore is poised for significant advancements in artificial intelligence (AI) over the next two years. The report, based on a survey of over 3,000 business leaders, including 75 from Singapore, highlights the rapid growth of agentic and physical AI, with 72% of Singaporean businesses planning to deploy agentic AI and 84% expecting to use physical AI in their operations.

The report underscores a shift from AI experimentation to enterprise scaling, with 32% of Singaporean respondents having moved 40% or more of their AI pilots into production. This is above the global average of 25%. Chris Lewin, AI & Data Capability Leader at Deloitte Asia Pacific, emphasised the need for a clear roadmap to guide AI transformation, stating, “The full value of the technology will come from reimagining what is possible to achieve strategic differentiation and enduring competitive advantage.”

Agentic AI, which involves autonomous AI agents, is expected to impact customer services, supply chain management, and marketing. However, only 14% of Singaporean leaders report having a mature governance model for agentic AI, highlighting a need for improved oversight.

Physical AI, which integrates AI systems with real-world operations, is anticipated to drive industrial automation. Key applications include digital twins, collaborative robotics, and intelligent security systems. Deloitte advises businesses to ensure these solutions are secure and resilient against cyber threats.

The report also notes the importance of sovereign AI, with 77% of Singaporean businesses considering data residency and regional compute considerations crucial to their strategic planning. As AI continues to evolve, these insights provide a roadmap for businesses aiming to harness AI’s full potential.

Rolls-Royce Singapore, Rolls-Royce Solutions Asia, and the Economic Development Board (EDB) have signed a Memorandum of Understanding (MoU) at the 2026 Singapore Airshow to explore growth opportunities in aerospace manufacturing, maintenance, repair and overhaul (MRO), power systems, and artificial intelligence (AI). This collaboration is set to bolster Singapore’s position as a global hub for aerospace innovation and manufacturing excellence.

The MoU will enable the parties to advance technology in aerospace manufacturing and MRO operations. Rolls-Royce plans to develop technologies beyond existing programmes like the Smart Manufacturing Joint Lab. Additionally, Rolls-Royce Solutions Asia aims to expand its capabilities to support the growing data centre market in the region. An AI Centre of Excellence is also on the cards to unlock AI development potential, particularly in power systems applications.

Giovanni Spadaro, President of Global Markets at Rolls-Royce (Power Systems), highlighted the company’s long-standing presence in Singapore, stating, “We look forward to working with partners and the EDB to further enhance technology development and capabilities in this region.” John Kelly, Senior Vice President of Civil Aerospace at Rolls-Royce Singapore, emphasised the importance of partnership and innovation in supporting sustainable growth.

Zheng Jingxin, Vice President and Head of Mobility at EDB, noted that the MoU reflects Rolls-Royce’s commitment to deepening aerospace manufacturing capabilities in Singapore. The initiative is expected to drive growth in AI, industrials, and infrastructure across the Asia Pacific.

The Asia-Pacific data centre market is projected to triple by 2029, driven by cloud, AI, and hyperscale growth. Rolls-Royce aims to provide the necessary technologies and expertise to support this expansion.

Savills Singapore has announced the launch of Sky City Osaka, a new freehold boutique bed and breakfast (B&B) investment opportunity located near Umeda, one of Osaka’s major commercial and transport centres. The development, set to be fully refurbished by TY-Properties, offers a unique chance for investors to enter Japan’s hospitality-led real estate market through a professionally managed, short-stay investment model.

Sky City Osaka, situated in Osaka’s Kita Ward, features studio to two-bedroom flats designed for short-stay guests and urban travellers. The property is strategically located within walking distance of Ōsakatemmangū and Minami-morimachi Stations, providing convenient access to Umeda and Kansai International Airport. The development is also near popular attractions such as Osaka Tenmangu Shrine and Tenjinbashisuji Shopping Street, enhancing its appeal to both domestic and international tourists.

Osaka is becoming an attractive investment destination due to strong tourism demand, limited supply of centrally located short-stay accommodation, and favourable ownership structures for foreign buyers. The city’s allure is expected to grow with the upcoming Osaka Integrated Resort, slated for completion by 2030, which is anticipated to boost international visitor arrivals and long-term accommodation demand.

Adrian Lim, Senior Director and Head of International Residential Sales at Savills Singapore, stated, “Osaka continues to benefit from robust tourism demand and a shortage of well-located short-stay accommodation.” He highlighted that Sky City Osaka offers freehold ownership, zero additional buyer’s taxes, and an accessible entry price point, making it an attractive option for Singapore-based investors.

The launch event for Sky City Osaka is scheduled for 7 and 8 February 2026 at Voco Orchard Hotel. Investors are offered freehold rights, a hassle-free ownership structure, and full management, providing a hands-off approach to overseas property ownership.

SBI Digital Markets (SBIDM), a Singapore-licensed digital asset partner for institutional investors, has successfully closed Asia’s largest music Intellectual Property (IP) Real-World Asset (RWA) deal. The US$30m transaction, completed in 2025, involved bonds backed by a new music album and a series of performing rights. This marks SBIDM’s third successful RWA commercialisation in six months, following previous ventures in luxury wine and a tokenised money market fund.

The deal comes amid a surge in global interest in music rights, with private equity firms and institutional investors raising US$4.4b in debt backed by music rights by Q3 2025, a significant increase from US$300m in 2021. This growth is driven by rising global music revenues and evolving digital consumption trends. SBIDM collaborated with music owners and entertainment companies to launch IP-backed RWAs, funding new albums and music experiences.

CK Ong, Acting CEO of SBI Digital Markets, emphasised the company’s focus on regulated execution, stating, “Whilst much of the market cashes in on the hype of tokenised products, our priority at SBIDM has always been disciplined, regulated execution of structures and guardrails for issuers and investors.”

SBIDM’s recent transactions highlight its commitment to advancing RWA securitisation in Asia. As part of the SBI Group, SBIDM leverages its expertise in digital asset infrastructure and regulatory structuring to offer innovative financing solutions. Looking ahead, SBIDM plans to expand its deal pipeline with leading IP companies and asset owners across Asia and Europe in 2026.