Industry News

Grab, the Southeast Asian superapp, has initiated a pilot programme in Singapore to enhance navigation accuracy for its driver- and delivery-partners using high-accuracy GPS positioning. Collaborating with Oppo, Qualcomm Technologies, and Swift Navigation, this marks the first deployment of such technology on mobile phones and app integration in Southeast Asia.

The pilot aims to address navigation challenges in Singapore’s dense urban environment, where high-rise buildings and multi-level roads can degrade standard GPS accuracy. By integrating advanced technology from its partners, Grab’s driver- and delivery-partners can now achieve lane-level accuracy, improving navigation efficiency and reducing cancellations.

Oppo’s Find N5 foldable phone, equipped with Dual Frequency GNSS, Qualcomm’s Snapdragon 8 Elite Mobile Platform, and Swift Navigation’s Skylark Precise Positioning Service, form the backbone of this initiative. These technologies work together to deliver real-time GPS correction signals, significantly enhancing location accuracy.

Nilofer Christensen, Head of Consumer Product at GrabMaps, stated, “Grab is the first to bring this level of precise positioning technology to ride-hailing in Southeast Asia.” The pilot, which began in October 2025, involves nearly 250 driver- and delivery-partners, with 60 receiving sponsored Oppo N5 devices.

For consumers, this means more accurate estimated arrival times and fewer delays. The pilot is a step towards Grab’s vision of lane-level navigation across Southeast Asia, promising smoother and more reliable journeys.

Dubai, New York, and Singapore have emerged as the leading destinations for high-net-worth individuals (HNWIs), according to the latest Savills HNWI Hotspot Index. These cities are celebrated for their pro-business environments, robust legal frameworks, and high-quality lifestyle offerings, making them attractive hubs for global wealth.

The index highlights Singapore and Abu Dhabi for their economic competitiveness and connectivity, whilst Dubai excels in international school provision. London, despite shifting tax regimes, remains the top lifestyle destination, underscoring its enduring appeal. The report also notes the prominence of Tokyo, Seoul, New York City, Paris, and London as top retail destinations for luxury brands.

Family offices are increasingly sophisticated, with over half of the top 100 by assets under management located in the US. The UK, Denmark, Singapore, and Germany also feature prominently. Singapore, Dubai, and Monaco are noted for favourable tax environments, lacking inheritance, capital gains, or wealth taxes.

Real estate remains a cornerstone of wealth portfolios, with a growing interest in logistics, data centres, and sustainable developments. The report, part of Savills’ inaugural Spotlight on Wealth Trends, analyses nearly 100 destinations, revealing a dynamic reshaping of global wealth migration.

Kelcie Sellers, Associate Director at Savills World Research, remarked on the shift towards lifestyle-driven wealth management, stating, “Location remains critical. It is a lifestyle shift comparable to the expansion of air travel in the 1960s and 1970s, but driven today by the digital world.” The findings suggest a more fluid, decentralised distribution of wealth, with new hotspots emerging based on agility and vision.

CSE Global Limited, a global systems integrator, announced it secured S$146.1m in new orders for the third quarter ending 30 September 2025. Despite unfavourable foreign exchange movements impacting the order intake, the company saw a 2.7% year-on-year increase on a constant currency basis, excluding two major contracts from the previous year.

The Communications segment was the standout performer, contributing 51.5% of the total order intake with S$75.2m, marking a 24.2% increase from the previous year. This growth was largely driven by new orders from recently acquired companies in the United States. Meanwhile, the Electrification segment secured S$48m, representing a 20.2% year-on-year growth when excluding major contracts from 2024. However, the Automation segment saw a 52.1% decline, attributed to the absence of greenfield orders in the oil and gas sector.

Group Managing Director and CEO Lim Boon Kheng stated, “Whilst the global operating environment remains uncertain, our underlying operations remain strong. We continue to take a disciplined approach to tendering and project selection, with a focus on quality execution and sustainable returns.”

The new orders bring CSE Global’s order book to S$467.5m for the first nine months of 2025. These developments are not expected to materially impact the company’s net tangible assets or earnings per share for the current financial year.

Fingular, a Singapore-based global fintech holding, has unveiled its Smart Limit solution in Malaysia, providing a digital consumer finance option that allows users to access funds flexibly and quickly. The service, which can be activated online in just five minutes, is initially available to existing Tambadana customers and will expand to AhaPay BNPL users before opening to the general public in March 2026.

The Smart Limit offers a modern alternative to traditional financing, featuring a fully digital onboarding and risk-scoring process. Customers can complete the application and receive approval in under five minutes. The service supports repayments via e-wallets, FPX transfers, and direct debit from bank accounts. Future enhancements will include top-ups, additional repayment options, and expanded usage channels, alongside a 30-day grace period and upcoming rewards and cashback programmes.

Maksim Chernushchenko, CEO of Fingular, highlighted the product’s relevance to Malaysia’s burgeoning digital economy, noting its potential to serve the near-prime market segment often overlooked by traditional banks. “With this launch, we continue our expansion into the near-prime segment—a market that remains underserved or overlooked by traditional banks,” he said.

Fingular, founded in 2021 by Maxim Chernushchenko and Vadim Gurinov, aims to build a comprehensive neo-bank promoting financial inclusion across Asia and the Middle East. The company operates in multiple markets, including Indonesia, Malaysia, and India, offering digital financial products tailored to local needs.

Hong Leong Finance (HLF) has inaugurated its next-generation branch at Punggol Coast Mall, aiming to capitalise on the rapidly expanding residential and commercial area. The branch, which opened on 10 November 2025, introduces several digital innovations, including a dynamic LED art wall and augmented reality (AR) experiences, as part of HLF’s commitment to enhancing customer engagement and digital transformation.

The new branch is designed to cater to the evolving needs of Punggol’s growing population, which has reached approximately 190,000. HLF President Ang Tang Chor highlighted the area’s potential, stating, “Punggol’s population has been rising rapidly, and with major developments such as the Punggol Digital District, we see demand potential for our financial products and services.”

In addition to the branch opening, HLF has revamped its corporate website to improve user experience, reflecting its focus on a seamless, omnichannel approach. The updated website offers enhanced navigation and interactivity, ensuring customers can easily access information and services.

The Punggol branch features privacy-enhanced teller booths and a dedicated SME Centre, providing a secure and personalised environment for financial consultations. The branch also incorporates sustainability elements, such as energy-efficient lighting and green-certified materials.

A standout feature is the AR experience with Ray, a digital dinosaur that educates customers about the HLF Digital app. This initiative exemplifies how technology can simplify complex information, making it more accessible and engaging.

The new branch and digital enhancements are part of HLF’s broader strategy to integrate technology with personalised service, ensuring customers receive a comprehensive and modern banking experience.

SGX Mainboard-listed Boustead Singapore Limited has announced its unaudited financial results for the first half of the financial year ending 30 September 2025. The group’s revenue for 1H FY2026 was marginally lower at S$294m, compared to S$295.2m in the same period last year. Despite this, the Geospatial Division saw a 10% increase in revenue, offsetting declines in the Real Estate Solutions and Healthcare Divisions.

Net profit for the period was S$34.9m, a 3% decrease from the previous year, primarily due to reduced revenue and gross profit. However, this was partially mitigated by lower other losses and a significant improvement in the share of loss from associates and joint ventures, following the reversal of a S$7m liability.

The group’s engineering order backlog stands at approximately S$396m, with S$122m under the Energy Engineering Division and S$274m under the Real Estate Solutions Division. Boustead has secured around S$193m in new engineering contracts since the start of 1H FY2026.

Chairman and Group CEO Wong Fong Fui commented on the challenging operating environment, noting, “The Group has delivered a respectable set of first half results.” He highlighted the thriving Geospatial Division, driven by demand for Geographic Information System technology solutions.

The Board has declared an interim cash dividend of 1.5 pence per share, consistent with the previous year. Boustead remains focused on optimising its balance sheet and improving project execution, with plans to list UI Boustead REIT on the Singapore Exchange to monetise its real estate portfolio.

More than 90,000 Singapore-based businesses are now selling internationally through PayPal, according to the newly released PayPal Global Beat 2025 report. This represents one in four of Singapore’s 356,100 registered businesses, highlighting the significant role digital commerce plays in extending the global reach of local enterprises. The report, based on a year of PayPal’s cross-border transaction data, reveals that Singapore’s gaming, beauty, and fashion sectors are leading the charge, collectively generating over $1.6b in transaction value.

The United States remains the largest market for Singaporean exports, with over $830m in purchases. However, Mexico has emerged as a promising new growth corridor, particularly for beauty and fashion products, with more than 7 million purchases worth over $370m. “PayPal continues to be a trusted partner for Singapore businesses expanding globally,” said Matthew Lucas, Vice President and Head of Cross Border Trade at PayPal. He noted that PayPal’s secure digital payment solutions enable even the smallest businesses to reach international customers.

Gaming is the most shopped category, generating over $593m in transaction value, followed by beauty with $411m and fashion with $636m. These sectors have found strong demand in both developed economies and emerging markets. Additionally, Singapore businesses are scaling in digital goods and software, further underscoring their global relevance.

As Singapore businesses diversify beyond traditional markets, the insights from PayPal Global Beat 2025 highlight the scalability and resilience of these enterprises, supported by trusted payment infrastructure. Looking ahead, PayPal plans to introduce more solutions in 2026 to simplify international expansion for businesses.

Franklin Templeton, a global investment manager, has partnered with DBS Bank to introduce Singapore’s first tokenised retail fund, the Franklin Onchain U.S. Dollar Short-Term Money Market Fund. Approved by the Monetary Authority of Singapore, the fund is available to DBS wealth clients and accredited investors, with retail access expected in early 2026. This initiative aims to democratise investment by allowing fractional ownership and lowering the minimum investment to US$20.

The fund leverages Franklin Templeton’s Benji Technology Platform, which integrates blockchain for real-time data, improved liquidity, and daily yield accrual. This technology ensures secure and transparent investment tracking, enhancing the fund’s appeal by offering high-quality, short-term U.S. dollar assets with the benefits of blockchain’s speed and efficiency.

The collaboration between Franklin Templeton and DBS Bank combines the bank’s digital infrastructure with Franklin Templeton’s expertise in tokenised assets. Tariq Ahmad, Head of APAC at Franklin Templeton, highlighted the growing interest in tokenised funds, stating, “We are excited to collaborate with DBS to bring this tokenised fund to the retail market.”

James Tan, Group Head of Investment Products & Advisory at DBS Bank, noted the transformative potential of tokenisation, saying, “By availing Singapore’s first tokenised retail fund to our customers, we are making it simpler and more convenient for them to start investing.”

This partnership marks a significant step in advancing financial inclusion and innovation in Singapore’s digital asset ecosystem, with Franklin Templeton continuing to integrate blockchain capabilities into traditional asset management.

Colliers Singapore has unveiled its Q3 2025 Industrial & Logistics Insights, highlighting a robust industrial property market despite global trade uncertainties. The report underscores a trend towards specification-led demand, particularly for automation-ready and advanced manufacturing facilities, which is shaping leasing strategies and driving market performance.

Prime logistics rents increased to $1.28 (S$1.75) per square foot, supported by a tight supply and healthy demand. Island-wide vacancy rates tightened to 10.9%, influenced by the withdrawal and demolition of older estates. Capital values rose to $162.50 (S$222) per square foot, with yields compressing to 7.20%. The demand for AI-related electronics and life sciences is providing a buffer against macroeconomic challenges.

Catherine He, Head of Research at Colliers Singapore, noted, “Singapore’s industrial sector remains resilient despite global trade headwinds. Occupiers are prioritising assets that meet operational needs such as specification-rich facilities that support automation and advanced manufacturing.”

The report also projects a steady rise in industrial supply through to the end of 2027, with an anticipated total of 1.3 million square metres, significantly above the historical average. Nicolas Menville, Executive Director and Head of Singapore-based Industrial Clients, commented on the evolving leasing environment, stating, “Modern logistics assets will continue to command premiums, whilst older stock must adapt to stay competitive.”

Colliers forecasts a moderation in industrial rental growth to around 2% in 2025, with price growth expected to edge up by approximately 4%, bolstered by investor confidence in Singapore’s stable macroeconomic environment.

The Civil Aviation Authority of Singapore (CAAS) has announced the introduction of a Sustainable Aviation Fuel (SAF) Levy, effective from 1 April 2026, for flights departing Singapore from 1 October 2026. This levy will apply to all Origin-Destination passengers, cargo shipments, and general and business aviation flights, aiming to support Singapore’s sustainability goals in aviation.

The SAF Levy is designed to meet a 1% SAF target for 2026, reflecting the price premium of SAF over conventional jet fuel. The levy varies by distance, with destinations grouped into four geographical bands. For economy class passengers, charges will range from S$1.00 for Southeast Asia to S$10.40 for the Americas. Premium cabin passengers will pay four times the economy rate, aligning with industry norms for carbon emissions calculations.

Cargo shipments will incur a levy based on weight and distance, starting at S$0.01 per kilogramme for Southeast Asia. General and business aviation flights will be charged per aircraft, with fees varying by aircraft size and distance.

The levy will fund the purchase of SAF and its environmental attributes, managed by the Singapore Sustainable Aviation Fuel Company Ltd. CAAS Director-General Han Kok Juan stated, “The introduction of the SAF Levy marks a major step forward in Singapore’s effort to build a more sustainable and competitive air hub.”

Singapore aims to achieve net zero aviation emissions by 2050, with a 1% SAF uplift target for 2026, potentially increasing to 3-5% by 2030. The levy is part of broader initiatives under the Singapore Sustainable Air Hub Blueprint to decarbonise the aviation sector.