Industry News

Singapore’s job market experienced a significant boost in July 2026, with job postings rising by 22.6% across all 12 industries, according to Workopia’s latest Labour Market Report. This increase marks a broad-based rise in hiring demand, with no single sector driving the surge.

The Jobs Index for Singapore closed July at 159, reflecting a steady climb throughout the month. Notably, all industries grew within a narrow range of 17% to 21%, highlighting an unusually even distribution of job growth. The report emphasises that this rise is not attributed to any specific sector or occupation, with administrative assistants being the largest contributor at just 19% of the top ten roles.

Despite the increase in job postings, median advertised pay remained stable at S$45,600, although the volume of postings disclosing pay rose by 22%. This suggests a consistent demand for roles across various levels of seniority without significant shifts in salary expectations.

The report also notes that Singapore’s labour market remains tight, with employment growing by 10,700 in Q2 2026. Resignations are at a record low of 1.0%, whilst retrenchments have reached a five-year high, indicating selective restructuring within the market.

Looking ahead, Workopia has identified three potential explanations for this even rise in job postings, which will be further examined in September. The findings provide valuable insights into the dynamics of Singapore’s labour market, offering a comprehensive view of the current employment landscape.

GDS Global Limited has announced a significant contract to supply its proprietary Blast-Mitigating Shutters to a major oil and gas facility in Qatar. This marks the first deployment of these shutters in the Middle East, aligning with GDS’s strategy to expand its premium shutter range internationally. The contract, expected to be fulfilled by September 2026, highlights the increasing global demand for specialised defence solutions amidst rising geopolitical tensions.

The innovative shutters, designed to absorb and dissipate blast energy, aim to minimise risks associated with vapour cloud explosions in industrial settings. Successfully tested in Texas, US, these shutters are engineered to reduce hazardous debris generation, enhancing safety in critical infrastructure.

Non-Executive Non-Independent Chairman Tang Hee Sung stated, “Securing this overseas supply contract in Qatar for our proprietary Blast-Mitigating Shutter marks another significant milestone in our international expansion, and further strengthens the Group’s presence in the Middle East.”

GDS Global, headquartered in Singapore, is renowned for its expertise in commercial and industrial door solutions. The company plans to leverage its global distributor network to expand its market reach and revenue base, capitalising on the growing need for advanced defence and safety solutions worldwide.

Bukit Canberra has introduced five themed gardens, designed to bring nature closer to the community. The gardens, developed by the National Parks Board, are part of a broader initiative to integrate natural spaces within urban environments, offering residents a unique opportunity to engage with diverse plant life.

The themed gardens, each with its distinct focus, are strategically located within Bukit Canberra to maximise accessibility and enjoyment for visitors. These gardens not only provide a serene escape from the bustling city life but also serve as educational platforms where visitors can learn about different plant species and sustainable gardening practices.

The National Parks Board emphasised the importance of these gardens in fostering a deeper connection between the community and the natural environment. A spokesperson stated, “The themed gardens are designed to inspire and educate visitors about the rich biodiversity that can thrive in urban settings.”

The opening of these gardens is expected to attract both local residents and tourists, contributing to the area’s vibrancy and community spirit. By offering a space for relaxation and learning, the gardens aim to promote well-being and environmental awareness among visitors.

As Bukit Canberra continues to develop as a hub for community activities, the themed gardens are set to play a pivotal role in enhancing the quality of life for those in the vicinity. Future plans may include additional features to further enrich the visitor experience.

Singapore and Brazil have officially strengthened their economic relationship with the Mercosur-Singapore Free Trade Agreement (FTA) coming into force. This agreement, effective immediately, aims to bolster trade and investment between Singapore and the Mercosur bloc, which includes Brazil, Argentina, Paraguay, and Uruguay. The FTA is expected to provide Singaporean businesses with greater access to the South American market, facilitating smoother trade operations and reducing tariffs.

The Mercosur-Singapore FTA is a significant milestone in Singapore’s trade strategy, as it marks the first agreement with the Mercosur bloc. This development is anticipated to enhance Singapore’s position as a key trading partner in South America, offering new opportunities for businesses in sectors such as technology, manufacturing, and services.

The agreement is designed to eliminate tariffs on a wide range of goods, making it easier for Singaporean companies to export to Mercosur countries. It also includes provisions for the protection of intellectual property rights and the promotion of sustainable development, aligning with Singapore’s commitment to fostering a robust and responsible trade environment.

Singapore’s Ministry of Trade and Industry highlighted the importance of this agreement, stating that it “will open up new avenues for Singaporean businesses to expand their footprint in South America.” The FTA is expected to boost bilateral trade and investment flows, contributing to economic growth and job creation in both regions. Close to 200 Singapore companies are operating across Mercosur markets, and Singapore’s total trade in goods with the four Mercosur member states represented over 30% of Singapore’s total trade with Latin America in 2025.

As the Mercosur-Singapore FTA takes effect, businesses in Singapore are encouraged to explore the new opportunities it presents, potentially leading to increased economic collaboration and mutual benefits for both Singapore and the Mercosur countries.

FIC Global Inc (FICG), a Taiwan-listed technology group, has announced strategic partnerships with AME Elite Consortium Berhad (AME) and Jurong Town Corporation (JTC) to bolster its presence in the ASEAN region. The collaborations, formalised at the ASEAN Conference 2026 in Singapore, aim to integrate advanced manufacturing capabilities in Johor with innovation and supply chain management functions in Singapore.

The partnerships establish the Johor-Singapore Special Economic Zone (JSSEZ) Twinning Strategy, which seeks to combine Malaysia’s manufacturing ecosystem with Singapore’s strengths in innovation and global connectivity. This initiative is part of FICG’s long-term vision to develop a cross-border operating model, enhancing its capabilities across various sectors, including AI, data centres, and semiconductors.

FICG’s subsidiary, PRO3C, will expand its manufacturing capabilities in Johor, supported by AME’s expertise in industrial park development. Concurrently, FICG plans to establish a Regional Innovation and Supply Chain Centre in Singapore, in collaboration with JTC, to deepen cross-border integration and enhance customer responsiveness.

Leo Chien, Chairman of FICG, stated, “By combining Malaysia’s manufacturing strengths with Singapore’s capabilities in innovation, talent, and supply chain management, we are building a more resilient cross-border platform to serve our global customers.”

The initiative is further supported by UOB, whose regional banking capabilities will facilitate investment and business connectivity. FICG’s new manufacturing campus in Johor began operations in late 2025, with a grand opening scheduled for October 2026, marking a significant milestone in the group’s regional development.

Raffles Medical Group (RMG) has announced a significant five-year commitment of S$5m to enhance healthcare access, education, and community support. This announcement was made during the Group’s 50th Anniversary Dinner, attended by President Tharman Shanmugaratnam and Health Minister Ong Ye Kung.

The commitment will focus on four key areas: increasing healthcare access, supporting education, advancing healthy longevity research, and uplifting vulnerable communities. A notable initiative is a two-year partnership with Children’s Aid Limited to provide specialised care for children and youths at Melrose Home, including therapeutic services and mental wellness workshops.

RMG will also award 50 scholarships over the next five years to students in Singapore and the region pursuing healthcare-related studies. This initiative aims to nurture future healthcare professionals and leaders.

The anniversary celebration also marked the launch of a commemorative book, “Moments that Matter, Fifty Years of Care,” chronicling RMG’s journey from a two-clinic practice in 1976 to a network of four hospitals and over 100 clinics across 12 cities in five countries. The Group recently surpassed 50 million patient visits, reflecting its longstanding trust and service in the healthcare sector.

Looking forward, RMG plans to continue investing in preventive care and community contributions. Executive Chairman and co-founder Dr Loo Choon Yong emphasised the Group’s ongoing mission: “To Our Patients, Our Best.”

ADA, the Data and AI Experience Company, has announced the acquisition of Algonomy, a leader in agentic decisioning for retail. This strategic move aims to enhance ADA’s intelligent growth platform by integrating Algonomy’s AI decisioning technology, thereby bridging the gap from data insights to a fully agentic experience. The acquisition extends ADA’s presence to 34 markets across the Asia-Pacific, the US, the Middle East and North Africa, and Europe.

Algonomy, known for its legacy brands Manthan and RichRelevance, is trusted by over 400 leading global brands for delivering hyper-personalised customer experiences. The integration with ADA will enable a platform that not only understands customer needs but also acts on them. “Every customer signal runs through a data foundation where AI agents drive real-time decisions,” said Srinivas Gattamneni, CEO of ADA. He emphasised that the acquisition brings ADA closer to its vision of creating the world’s most intelligent growth platform.

Atul Jalan, CEO of Algonomy, expressed excitement about the merger, stating, “ADA gives it a far bigger stage, and it comes at the precise moment decisioning stops advising and starts acting.” Post-acquisition, clients will continue to have full access to Algonomy’s products and solutions whilst benefiting from ADA’s broader capabilities.

ADA, headquartered in Singapore and Malaysia, serves 1,500 clients across various sectors, including retail and financial services. Algonomy’s AI-enabled solutions for eCommerce, marketing, and supply chain will further bolster ADA’s offerings, promising enhanced customer value and operational efficiency.

Lincotrade & Associates Holdings Limited has announced the acquisition of new contracts totalling S$112.7m, including a landmark S$70m contract for addition and alteration, and office fit-out works at an educational institution in Singapore. This contract, secured in July 2026, is the largest in the company’s history, surpassing its previous record of S$35m set in January 2023.

The company, specialising in interior fitting-out services, secured S$42.7m in new contracts during the fourth quarter of 2026. These projects, primarily commercial, are expected to be completed over the next two years. The contracts are anticipated to bolster Lincotrade’s order book and enhance revenue visibility, contributing positively to its financial performance.

Jackie Soh Loong Chow, Executive Director and CEO of Lincotrade, expressed confidence in the company’s capabilities, stating, “The steady stream of new project wins reflects the continued confidence that our clients place in the Group’s capabilities, execution track record and ability to deliver complex, high-quality projects.” He highlighted the significance of the S$70m contract as a milestone in expanding the scale and complexity of projects undertaken by the company.

As Lincotrade continues to build on its momentum, the focus remains on delivering projects safely and efficiently, whilst pursuing opportunities aligned with its long-term growth strategy. The company’s commitment to operational excellence and sustainability is evident in its use of environmentally friendly materials and its award of the Singapore Green Label for renewable and sustainable products.

The Singapore Institute of Directors (SID) has unveiled the AI Guide for Boards in Singapore, developed with OpenAI and Microsoft, to assist board directors in managing AI responsibly whilst enhancing business value. Launched during the SID Digital & Tech Forum, the guide aims to equip directors with practical frameworks for AI governance amidst its growing importance in corporate strategy.

The 116-page guide addresses the shift from AI experimentation to execution, emphasising the need for effective scaling and governance to achieve competitive advantage. It highlights that the true value of AI lies in its application using unique organisational data and expertise. According to Gartner, global AI spending is expected to reach $2.52t by 2026, underscoring the urgency for effective AI integration.

Yeoh Oon Jin, Chairman of SID, stated, “AI is no longer a technology issue; it is a board responsibility.” The guide aligns with Singapore’s National AI Strategy 2.0, translating national ambitions into actionable boardroom strategies. It covers topics such as integrating AI into corporate strategy, identifying high-value opportunities, and managing risks.

Andy Brown from OpenAI noted, “AI creates the most value when it becomes part of everyday work.” Chia Wee Luen, Managing Director of Microsoft Singapore, added that successful AI transformation relies on trusted governance and leadership.

The guide’s launch marks a significant step in supporting Singapore’s ambition to be a global hub for trusted AI, providing directors with the tools needed to lead AI transformation confidently.

MetaOptics Ltd and Elsoft Research Berhad have announced a strategic partnership to co-develop and mass-produce next-generation semiconductor optics manufacturing equipment. This collaboration aims to address the growing demand for metalens fabrication and testing equipment, as the metalens market is projected to expand into a multibillion-dollar industry in the coming years.

The partnership will focus on designing, building, and industrialising key fabrication equipment for metalens production, from research and development to high-volume manufacturing. The collaboration combines Elsoft’s expertise in automated test equipment with MetaOptics’ deep knowledge of metalens design and processes. The companies plan to develop three main equipment families: a 12-inch Direct Laser Writer platform, wafer-level automatic metalens testers, and a metalens module assembly and test system.

The 12-inch Direct Laser Writer platform will enable high-volume mass production of metalenses, integrating seamlessly into existing semiconductor processes. The wafer-level testers will characterise metalens performance across various wavelengths, whilst the assembly and test system will automate the production of smartphone camera and AR glasses modules.

MetaOptics is currently in discussions with potential foundry customers in the US, Japan, and Europe for the supply of these key metalens fabrication tools. The partnership is expected to accelerate MetaOptics’ transition to mass production capabilities and extend Elsoft’s precision equipment expertise into the fast-growing metalens market.

Both companies are set to define the technical specifications and commercial terms for the equipment programme, with plans to enter into definitive agreements soon. This collaboration is not anticipated to have a material impact on the financials of either company for the current year.