Industry News

Toll Group, a global leader in transportation and logistics, has unveiled Singapore’s first decarbonisation hub dedicated to electric supply vessels. This initiative, developed in partnership with Yinson GreenTech, marks a significant step towards sustainable port operations and aligns with Singapore’s Green Plan 2030. The 12-month proof of concept is expected to reduce emissions by up to 80% per trip, saving over a tonne of CO₂ per trip.

The hub integrates electric marine transport, smart warehousing, and efficient cargo lorrying into a digitally connected operation. This ensures clean and responsive logistics for customers in Singapore, one of the world’s most dynamic logistics hubs. Jonathon Kottegoda-Breden, President Asia Logistics at Toll Group, stated, “By establishing Singapore’s first decarbonisation hub dedicated to electric supply vessels, we aim to enable broader adoption of green maritime technologies, reduce fossil fuel dependency, and cut emissions throughout the region.”

Strategically located near Changi Airport and Singapore’s Eastern Anchorages, the hub enhances rapid air-sea connectivity and efficient trailer access. Purpose-built charging infrastructure and smart cargo handling equipment will maximise uptime and ensure predictable turnarounds for time-sensitive cargo. Rajeev Sood, Executive Vice President – Energy, Marine & Renewables at Toll Group, added, “By integrating electric vessels with smart infrastructure and digital processes, we’re showing how sustainable solutions can deliver both operational efficiency and significant emissions reductions.”

The launch event featured a ribbon-cutting ceremony and a product tour, highlighting the hub’s advanced infrastructure and electric vessel technology. As Toll Group advances sustainable logistics, it remains committed to supporting businesses worldwide.

Tata Consultancy Services (TCS) has launched the Google Cloud Gemini Experience Centre in Singapore, a cutting-edge facility designed to foster innovation through agentic AI. Situated within TCS’ Singapore Global Innovation Labs, the centre offers a tech-focused environment for enterprises across various sectors to co-create, prototype, and scale transformative business solutions.

The collaboration between TCS and Google Cloud allows Singaporean businesses to leverage Google’s Gemini models and agentic AI to enhance agility, comply with regulatory standards, and deliver personalised customer experiences. Key industries such as banking, retail, manufacturing, transport, and healthcare can work with TCS and Google Cloud to integrate AI into their operations, improving efficiency and security.

Punit Agarwal, TCS’ Country Head for Singapore, highlighted the significance of the centre, stating, “Singapore is a hub of innovation and digital adoption, and the new Google Cloud Gemini Experience Centre enables organisations to combine human expertise with agentic AI to reimagine their businesses.”

The centre provides access to Google Cloud’s advanced AI technologies, including the Vertex AI platform and BigQuery, facilitating rapid prototyping and scalable AI application development. Serene Sia, Google Cloud’s Country Director for Singapore and Malaysia, emphasised the centre’s role in accelerating digital transformation and enhancing customer engagement.

This initiative is part of TCS’ broader commitment to expanding its innovation ecosystem in Singapore, which includes collaborations with local universities and the establishment of the TCS GoZero Hub. The centre aims to position Singaporean enterprises at the forefront of AI-enabled business transformation.

Magna Systems has successfully designed and built Southeast Asia’s first full Ultra High Definition (UHD) and Internet Protocol (IP) processing outside broadcast (OB) lorry for Singapore’s leading media network. This state-of-the-art vehicle is set to revolutionise the region’s broadcasting capabilities by integrating advanced UHD and IP workflows, essential for high-quality production and future-proofing.

The media organisation sought to replace its ageing OB lorry with a technologically advanced model that could serve as a test bed for IP workflows, enhancing their understanding of ST-2110 design and implementation. Magna Systems was chosen for this critical project, tasked with creating a vehicle that not only supports UHD full internal processing but also facilitates seamless HD to UHD migration and remote operations over long distances.

The new OB lorry is equipped with 20 UHD cameras, including 16 wired and four wireless, and features hybrid HD compatibility, full UHD replay, and super slow-motion capabilities. Magna Systems group CEO, Matthew Clemesha, highlighted the collaborative effort involved, stating, “It was an honour to deliver this landmark project. Our team collaborated closely with the coachbuilder and client to architect the lorry from the ground up.”

The lorry, already utilised for Singapore’s National Day production, will also play a pivotal role in international events such as the Toyota World Para Swimming Championships. Patrick So, Magna Systems Director – Sales and Operations (Asia), emphasised the lorry’s significance, noting its efficiency and robust infrastructure, which positions it as a future-ready platform for premium OB production over the next decade.

More than half of Singaporean retail investors are optimistic about a global bull market continuing into 2026, according to eToro’s latest Retail Investor Beat survey. The survey, which included responses from 1,000 Singaporean investors, reveals that 54% anticipate the market rally will persist into the new year. However, confidence in the local economy and personal investments has declined since the third quarter.

The survey highlights a drop in confidence across several areas: local economic confidence fell from 77% in Q3 to 70% in Q4, job security confidence decreased from 67% to 59%, and confidence in the cost of living standards dropped from 65% to 58%. Additionally, only 44% of investors believe they are on track to achieve their investment goals by 2025, down from 53% last quarter.

Market Analyst Zavier Wong commented, “There’s a hint of uncertainty lingering in Singapore. Whilst the global market outlook looks encouraging, the lived reality at home hasn’t caught up.”

The survey also identified key external risks perceived by investors, with 47% citing slowing economic growth and political uncertainty as major concerns. Geopolitical instability was noted by 43% of respondents.

Regarding interest rates, 46% of investors expect a decrease in 2026, whilst 27% anticipate an increase. Wong noted, “Most investors here believe rates will start to come down next year, but they’re not expecting anything too dramatic.”

As Singaporean investors navigate these mixed signals, their cautious optimism reflects a balance between global market potential and local economic challenges.

Hongkong Land Holdings Limited has announced the launch of its first private real estate fund, the Singapore Central Private Real Estate Fund (SCPREF), which is set to become the largest of its kind in Singapore. The fund will manage more than S$8b in assets, focusing on prime commercial properties in Singapore. This strategic move is expected to enhance Hongkong Land’s earnings and asset growth, whilst also introducing a new revenue stream through fee income.

The SCPREF will be seeded by Hongkong Land’s existing Singapore commercial portfolio, including interests in One Raffles Quay and Marina Bay Financial Centre Towers 1 and 2. The company has already agreed to sell its interest in Marina Bay Financial Centre Tower 3 to Keppel REIT for approximately S$1.5b, a deal that exceeds its independent valuation by 2%.

The proceeds from this sale will contribute to Hongkong Land’s capital recycling efforts, which have reached US$2.8b since 2024, moving closer to its 2027 target of US$4b. The SCPREF is expected to launch with assets under management more than double that of Hongkong Land’s seed portfolio, supported by equity commitments from third-party investors.

Hongkong Land’s strategy aims to grow its assets under management to $100b by 2035, with significant participation from external capital. The company plans to reinvest the capital from these transactions into ultra-premium commercial properties in Singapore, reinforcing its commitment to the market. A further announcement regarding SCPREF is anticipated in early 2026.

Singapore’s labour market demonstrated resilience in the third quarter of 2025, with total employment rising by 25,100, significantly surpassing the 10,400 increase seen in the previous quarter. This growth was driven by sectors such as Financial & Insurance Services and Health & Social Services for residents, whilst non-resident employment saw gains in Construction and Manufacturing. Despite ongoing global economic uncertainties, the unemployment rates remained low, with overall unemployment at 2.0% in September 2025.

The number of job vacancies decreased slightly from 76,900 in June to 69,200 in September, yet the demand for Professionals, Managers, and Executives (PMEs) remained robust. The ratio of job vacancies to unemployed persons improved from 1.35 to 1.49, indicating a tighter labour market. Retrenchments were minimal, with only 3,670 cases reported, and employers increasingly opted for short work-week arrangements over layoffs.

In November, the Ministry of Trade and Industry revised Singapore’s GDP growth forecast for 2025 to around 4.0%, reflecting better-than-expected economic performance. However, firms remain cautious about hiring and wage increases, with a slight rise in the share of companies planning redundancies.

To address these challenges, the government offers various programmes to support workforce resilience, including reskilling initiatives and financial support for jobseekers. As Singapore navigates these economic headwinds, both employers and workers are encouraged to remain adaptable and proactive in enhancing their skills and job prospects.

Singapore Gulf Bank (SGB), backed by Whampoa Group and Mumtalakat, has unveiled a new service allowing clients to mint and redeem stablecoins, including USDC and USDT, directly on the Solana blockchain. This initiative, announced at Solana Breakpoint 2025, marks a significant step as SGB becomes the first regulated bank to eliminate transaction and gas fees for these operations.

The service aims to enhance financial flows across the GCC-Asia corridor, building on the over $7b in transactions SGB has processed since its launch in March. Initially available to corporate clients, the service will support transaction and treasury management needs, with plans to expand to personal banking customers.

Shawn Chan, CEO of SGB, highlighted the importance of this development: “The adoption of stablecoins by regulated banks reflects their growing real-world utility. By leveraging Solana’s speed and cost advantages, we are providing our clients across the GCC and Asian markets with a bank-grade compliant stablecoin solution that finally makes real-time, cross-border and cross-counterparty transactions viable for corporates.”

Earlier this year, SGB launched SGB Net, a real-time, multi-currency clearing network, and partnered with Fireblocks for secure treasury management and digital asset custody. As a fully licensed digital bank regulated by the Central Bank of Bahrain, SGB continues to innovate in digital asset management and stablecoin settlement services, reinforcing its commitment to providing cutting-edge financial solutions.

Leong Guan Holdings Limited, a prominent Singapore-based food manufacturing and distribution company, made a successful debut on the Catalist board of the Singapore Exchange Securities Trading Limited on 11 December 2025. The company’s shares closed at S$0.24, marking a 4.3% increase from its placement price of S$0.23, after reaching an intraday high of S$0.265.

The positive performance on its first trading day underscores investor confidence in Leong Guan’s business fundamentals and growth prospects. Executive Director and Chairman Lim Tze Chiang expressed gratitude to shareholders and partners, stating, “Our successful debut reflects the market’s recognition of the Group’s long-standing reputation for quality, consistency and innovation in Singapore’s food manufacturing industry.”

Leong Guan, known for its fresh noodle and soy bean-based beancurd products, plans to leverage its listing to enhance manufacturing capabilities and explore new opportunities. The company aims to distribute dividends of at least 80% of its net profit for FY2025 and 35% for FY2026.

The initial public offering, fully subscribed, involved the placement of 20,650,000 shares at S$0.23 each. Notable investors include Lim Hock Chee and Prima Portfolio Pte Ltd. The net proceeds of approximately $1.54m (S$2.1m) will be used for market expansion, facility enhancement, and strategic alliances.

With a market capitalisation of approximately $17.85m (S$24.3m), Leong Guan is poised to strengthen its market leadership and expand its regional footprint.

Ever Glory United Holdings has announced a public offer of up to 2 million new shares at S$0.64 each, as part of its strategic move to transfer from Catalist to the SGX Mainboard. The offer price represents a 9.1% discount to the volume-weighted average price of S$0.704 recorded on 9 December 2025. The offer period commenced at 7:00 AM on 11 December and will close at 12:00 PM on 17 December 2025.

The company aims to raise an estimated $880,000 (S$1.2m) in net proceeds if the offer is fully subscribed. This initiative is designed to fulfil the Singapore Exchange’s (SGX) Listing Manual Rule 213, which requires a minimum shareholder base of 500 for mainboard listing. Ever Glory’s intention to transfer was first announced on 14 October, and it received in-principle approval on 22 November. The SGX has since issued a listing and quotation notice for the offer shares.

This public offer marks a significant milestone for Ever Glory, enhancing its market visibility and expanding its investor base. The company’s move to the mainboard is expected to strengthen its position and attract a broader range of investors.

Instarem, a global digital payments platform, and Choco Up, a growth-financing provider, have introduced a new embedded financing solution for Small and Medium-Sized Enterprises (SMEs) in Singapore and Australia. Launched on 1 September 2025, this service allows eligible Instarem Business clients to apply for up to US$1m in growth capital directly through the Instarem Business portal, with funds disbursed in as little as two business days.

This initiative comes as Southeast Asia’s cross-border e-commerce market is projected to grow significantly, reaching US$14.6b by 2028. The integration aims to reduce cross-border frictions for SMEs, enabling faster settlements and simpler foreign exchange processes. The financing is collateral-free and requires only a personal guarantee from one director, streamlining the application process with basic Know Your Business (KYB) documentation and recent transaction history.

Choco Up has already supported over 1,000 SMEs across Singapore, Hong Kong, and Australia, facilitating approximately US$2.5b in Gross Merchandise Value. Instarem processes over US$6b annually, offering payment speeds up to 12 times faster than traditional banks.

Percy Hung, CEO of Choco Up, stated, “Fast, flexible, non-dilutive financing lets owners stay in control of how and when they scale.” Michael Minassian, Global Head of SME Business at Instarem, added, “It is about reducing friction and helping regional champions scale internationally with confidence.”

Looking forward, Instarem and Choco Up plan to deepen their API integration to enhance data sharing and decision-making, with expansion to Hong Kong expected in early 2026. SMEs can apply for financing directly through the Instarem Business portal.