Industry News

The iEdge Singapore Next 50 Index (Next 50) has undergone its June 2026 review, resulting in the addition and removal of four constituents. This change reflects strong market activity across global supply chains, with new inclusions such as AEM, Top Glove, UI Boustead REIT, and PC Partner. These changes will take effect from 22 June.

The review highlights a notable shift towards technology within the index. The liquidity-weighted framework has increased the technology sector’s weight to 26.2% from 15.8%, indicating stronger trading intensity in hardware and fintech sectors. This shift is accompanied by a reduction in income-oriented segments, such as S-REITs, telecommunications, and utilities.

The Next 50 Index, which tracks 50 of the largest and most traded stocks on the SGX Mainboard beyond the top 30 by market capitalisation, now includes recent debutant UI Boustead REIT. The eligible universe for the index expanded to 91 stocks from 87 since the March review, with selections based on market capitalisation.

The technology sector’s growing influence is evident, with five of the seven largest weights as of 29 May belonging to this sector. The Next 50 Reserve List also supports this trend, featuring technology-focused companies like Nanofilm Technologies International and Aztech Global.

The new entrants to the index are supported by robust trading activity, with AEM driven by AI-led test demand and PC Partner benefiting from high-end GPU supply constraints. The changes in the index composition reflect a broader shift towards growth and global flow-driven sectors, potentially surpassing income-led exposures like S-REITs.

Singapore Post Limited (SingPost) has launched a S$30m automated parcel sortation facility at its Regional eCommerce Logistics Hub, alongside the islandwide rollout of its neighbourhood service, SingPost@MyBlock. These initiatives, unveiled on 10 June 2026, mark significant milestones in SingPost’s strategy to enhance operational efficiency and public convenience.

The new facility, featuring a 3D Sorter and an Intelligent Flexi Sorter (IFS), will triple SingPost’s small and medium parcel processing capacity from 100,000 to 300,000 parcels per day. Combined with existing operations, the hub can now handle up to 400,000 parcels daily, positioning SingPost as Singapore’s leading parcel delivery network. This upgrade aims to manage seasonal spikes, such as 11.11 and Black Friday, with improved speed and efficiency.

Previously, SingPost operated across two facilities, leading to increased transit times and costs. The consolidation of operations at the Tampines hub streamlines parcel flow, reducing complexity and enhancing network efficiency.

In addition to the facility, SingPost will expand its SingPost@MyBlock service by 30 September. This service allows residents to drop off letters and small packets at designated letterbox nests in their residential blocks, reducing the need to visit post offices. This initiative leverages SingPost’s existing network, which serves over 1.9 million addresses daily.

Mark Chong, CEO of SingPost, stated, “This centralised automated hub for parcels unlocks an improved operating model, enabling us to move towards a highly flexible network that scales with market demand.” He emphasised the dual focus on backend efficiency and public convenience, aiming to modernise infrastructure for greater reliability and agility.

Singapore’s Purchasing Managers’ Index (PMI) increased by 0.3 point in May 2026 from the previous month to 51.0, indicating a faster pace of expansion in the overall manufacturing sector.

This marks the tenth consecutive month of growth and the highest PMI reading since December 2024. The improvement was driven by stronger expansion in new orders, new exports, factory output, input purchases, and employment.

The supplier deliveries index contracted at a faster pace and for the fifth consecutive month, reflecting extended lead times and ongoing supply chain constraints. Meanwhile, imports, input prices, order backlog, and future business recorded stronger growth. The finished goods index posted a slower expansion.

The future business index remained in expansion territory for the seventh consecutive month, reflecting manufacturers’ continued confidence in near-term business prospects.

Duke-NUS Medical School has been awarded a €2m grant from the European Union to bolster Asia’s capacity to detect infectious disease outbreaks early. The funding will support the use of wastewater and environmental surveillance as a population-level early warning system, aiming to identify threats before clinical cases escalate.

The initiative, announced on 9 June 2026, is part of a broader effort to enhance public health preparedness across the region. The project will be led by Duke-NUS’s Centre for Outbreak Preparedness, with Professor Paul Pronyk at the helm. “This grant will enable us to develop robust systems that can provide critical data for early intervention,” said Pronyk.

The funding comes at a crucial time as countries continue to grapple with the challenges posed by infectious diseases. Wastewater surveillance has emerged as a valuable tool in monitoring public health, offering insights into the spread of pathogens within communities. By detecting viral particles in wastewater, authorities can gain a clearer picture of infection trends and respond more effectively.

The project was officially launched at the ADWANCE-Asia kick-off meeting on 8 June in Kuala Lumpur, attended by key figures from the European Commission, including Ludmila Nistor-Mihajlova and Angela Tessarolo. The collaboration underscores the importance of international partnerships in addressing global health challenges.

Looking ahead, the initiative is expected to play a pivotal role in strengthening the region’s health security infrastructure, potentially serving as a model for other parts of the world.

Credit Bureau Singapore (CBS) and Experian Information Services Malaysia have signed a Memorandum of Understanding (MOU) to establish a cross-border credit reporting service. This initiative, announced on 9 June 2026, seeks to facilitate the exchange of credit information for individuals with financial activities in both Singapore and Malaysia, thereby supporting economic integration and financial inclusion.

The collaboration aligns with the Johor-Singapore Special Economic Zone’s focus on digital industries and aims to bolster the digital financial services ecosystem. By enabling a structured exchange of credit data, the MOU is expected to improve access to financial products for consumers and provide financial institutions with a comprehensive view of applicants’ financial obligations.

Key elements of the proposed framework include secure mechanisms for consumer consent, data protection compliance, and commercial models for sustainable implementation. William Lim, Executive Director of CBS, highlighted the importance of evolving credit information systems to reflect cross-border realities, stating, “This collaboration represents an important step towards enabling more seamless and responsible access to credit for consumers.”

Dawn Lai, CEO of Experian Malaysia, emphasised the role of trusted data collaboration in strengthening digital financial ecosystems. The initiative is expected to benefit digital-native workers and entrepreneurs, offering them fairer credit assessments and reducing the risk of cross-border fraud.

Both CBS and Experian Malaysia are committed to adhering to legal and regulatory frameworks to ensure responsible implementation. The MOU includes confidentiality provisions to safeguard exchanged information, marking a significant step towards enhanced financial cooperation between the two nations.

HSBC has announced a collaboration with Mastercard to pilot innovative business-to-business (B2B) payment capabilities in Singapore. This initiative aims to streamline digital commerce by automating purchasing and payments through trusted digital agents, enhancing control and oversight for businesses.

The pilot project connects a multinational corporate buyer, Singapore-based procurement platform SourceSage, and eCommerce supplier FortyTwo. Utilising Mastercard Agent Pay, the project facilitates secure tokenised payments and offers Merchant Discovery and Referral capabilities. This integration showcases the potential of agentic commerce when buyers, suppliers, and payment platforms are seamlessly connected.

HSBC is committed to embedding payments into business processes, improving visibility and control, and enabling efficient cross-border operations. Key features include Digital Merchant Services, which allows merchants to accept various payment methods through a single interface, and the HSBC Mobile Virtual Card, which offers businesses enhanced spending control and easier tracking and reconciliation.

Winnie Yap, Head of Global Payments Solutions at HSBC Singapore, stated, “Commerce is being rewired around platforms, automation and always-on expectations. This pilot demonstrates how B2B transactions can be executed end-to-end with control, transparency and risk management from the start.”

Minsook Cho, Country Manager for Singapore at Mastercard, added, “Agentic commerce, when powered by Mastercard and delivered with HSBC, addresses complexity directly. Together, we are defining what trusted, intelligent commerce can look like for businesses across the region.”

This collaboration marks a significant step in redefining B2B commerce, with potential implications for businesses seeking streamlined and secure payment solutions.

The New York-based studio, Orange Cap Games, has selected Singapore as the location for its inaugural Vibes pop-up, coinciding with the global launch of Vibes Set 3: Birb & Pengu on 18 June. This event, running from 14 to 30 June, is hosted by PlaySpace at 220 River Valley Road, a new enrichment venue in Singapore.

The pop-up marks the first physical retail activation for the Vibes trading card game, which has sold over four million cards worldwide since its debut in December 2024. The latest set, Birb & Pengu, introduces new card mechanics and ultra-rare Sketch cards, with only ten of each in existence. Singapore has been chosen as the Asia flagship market for this release, reflecting the city’s vibrant trading card community.

Gary Mao, co-founder of Orange Cap Games, expressed enthusiasm for the event, stating, “Singapore has one of the most passionate and knowledgeable card communities in Asia. It was the obvious choice for our first physical home.”

PlaySpace, co-founded by siblings Teri Tan and Titus Chia, is set to formally open in July 2026. The venue offers a variety of play experiences, from Lego and mechanical puzzles to board games, guided by a licenced early childhood educator. The pop-up event is free and open daily from 11am to 7pm, providing an opportunity for enthusiasts to engage with the Vibes community and explore the new card set.

Embed Financial Group Holdings Pte Ltd (EFGH) and Kingston International College have announced a strategic partnership to enhance financial services and educational pathways for international students, particularly from emerging markets in Asia and Africa. The collaboration, revealed on 9 June, aims to address disparities in access to trusted financial services and digital economy pathways.

Both organisations, headquartered in Singapore, will focus on payments, insurance, digital identity for students, and curriculum development in artificial intelligence, cybersecurity, embedded finance, and blockchain. The partnership will operate under a legal and commercial framework, with specific projects defined through individual Statements of Work.

Dennis Ng, Executive Chairman of EFGH, highlighted the partnership’s goal: “EFGH builds the infrastructure. Kingston builds the people. This agreement is about making sure both serve the same communities.” Ivan Khua, Chairman of Kingston International College, added, “Our partnership with EFGH is a commitment to ensuring that a student from Jakarta, Hanoi, or Nairobi has the same access to quality education, trusted financial services, and industry-relevant skills as anyone else.”

The agreement is set for an initial term of three years, with automatic annual renewals. It allows both parties to enter similar agreements with third parties, ensuring flexibility in their collaborative efforts. This partnership marks a significant step towards bridging the gap in educational and financial access for students from underrepresented regions.

The recent SGX Market Updates report shows Singapore’s financial and technology sectors experienced selective net institutional inflows on June 8, despite regional market declines. Financial sector inflows were led by United Overseas Bank (UOB), Oversea-Chinese Banking Corporation (OCBC), Singapore Exchange (SGX), Yangzijiang Maritime, and UOB Kay Hian, with these stocks averaging a 1.6% decline. The technology sector saw inflows in companies like UMS Holdings, Venture Corporation, and AEM Holdings, averaging a 0.7% decline.

The outlook for the second half of 2026 suggests moderating but resilient growth in Singapore, supporting demand for electronics and capital expenditure-linked segments. However, rising energy and logistics costs, along with renewed trade frictions, are creating tighter conditions and more selective market behaviour.

Global conditions also tightened, with the US Dollar Index rising above 100, 10-year US Treasury yields increasing by 10 basis points, and Brent crude prices climbing by $2 (US$2) per barrel. This contributed to a cautious market tone, with the Straits Times Index (STI) declining by 1.7%.

Despite overall net outflows from Singapore-listed exchange-traded funds (ETFs), 35 ETFs recorded net inflows totalling S$20m. The SPDR Straits Times Index ETF led with S$6m in inflows.

The selective institutional flows reflect targeted positioning rather than broad-based risk appetite. Financial services and technology sectors anchored the day’s positive net institutional flows, securing S$26m and S$9m, respectively. This pattern aligns with a resilient yet tightening macroeconomic backdrop, with manufacturing conditions supporting demand even as input costs rise.

Grab Singapore has unveiled the Grab Full House Mission, a programme designed to support small food and beverage (F&B) merchants in attracting customers and strengthening their digital capabilities. This initiative comes as smaller F&B operators face challenges due to rising costs and competitive consumer spending.

The programme, launched in collaboration with Enterprise Singapore (EnterpriseSG), includes consumer initiatives such as Dine Out precinct campaigns and nationwide delivery deals. These efforts aim to increase visibility and attract new customers both online and offline. The first precinct campaign is set to launch in Tanjong Pagar, with plans for Holland Village and Jalan Besar later this year.

For merchants, Grab is offering workshops, masterclasses, and industry insights to help improve business operations and digital tool usage. The initiative also includes “Ready, Set, Grab!”, a modular onboarding programme to assist new F&B operators in joining Grab’s platform with ease.

Alejandro Osorio, Managing Director of Grab Singapore, emphasised the importance of the initiative, stating, “A full house means more than just filled tables or more delivery orders. For many small merchants, it represents stability, confidence, and the ability to keep doing what they love.”

Jeannie Lim, Assistant Managing Director at EnterpriseSG, highlighted the significance of supporting local businesses, noting that food culture is central to Singapore’s identity. The partnership with Grab aims to equip businesses with the necessary tools to adapt and thrive in the evolving F&B landscape.

Merchants interested in participating can register their interest through Grab’s platform.