Industry News

The Singapore-MIT Alliance for Research and Technology (SMART) has launched the Wearable Imaging for Transforming Elderly Care (WITEC) project, aiming to develop the world’s first wearable ultrasound imaging system. This innovative system will allow continuous, real-time monitoring and personalised diagnosis of chronic conditions such as hypertension and heart failure. The initiative, supported by the National Research Foundation Singapore, involves collaboration with top researchers from the Massachusetts Institute of Technology (MIT), Nanyang Technological University, and the National University of Singapore, with Tan Tock Seng Hospital as the clinical collaborator.

WITEC’s laboratory is equipped with cutting-edge tools, including Southeast Asia’s first Nanoscribe Quantum X sub-micrometre 3D printer and the Verasonics Vantage NXT 256 ultrasonic imaging system, the first of its kind in Singapore. These technologies enable the creation of bioadhesive materials and device interfaces with unprecedented precision, essential for ensuring skin-safe adhesion and stable imaging quality.

The project addresses the growing need for effective home-based care as chronic diseases rise globally, particularly amongst ageing populations. Current consumer wearables lack the depth needed for chronic disease management, whilst traditional ultrasound systems are bulky and limited to hospital use. WITEC’s wearable system, enhanced with AI diagnostics, aims to bridge this gap, supporting early detection and continuous monitoring.

Clinical trials, led by Tan Tock Seng Hospital, are expected to begin in early 2026. This innovation not only promises to improve patient outcomes but also aims to reduce healthcare costs and alleviate pressures on healthcare systems by shifting monitoring to homes and communities.

Razorpay Singapore has unveiled a new checkout feature, Razorpay Offers, designed to help merchants increase sales by reducing cart abandonment and payment costs. Announced on 10 December, the feature allows businesses to offer instant, payment-method-specific discounts, encouraging customers to choose more cost-effective payment options at checkout.

Razorpay Offers integrates seamlessly into existing Razorpay checkout systems without requiring additional engineering work. Merchants can set up Smart Offers that activate when shoppers select eligible payment methods, such as PayNow or credit cards. This approach aims to improve transaction completion rates whilst managing the cost implications of different payment methods.

Angad Dhindsa, Head of Southeast Asia at Razorpay, highlighted the feature’s practicality, stating, “Merchants today are looking for practical levers that improve the customer journey without any additional complexity. This feature is designed to fit directly into existing workflows and support merchants, navigating both conversion challenges and reducing cost of accepting payments.”

The introduction of Razorpay Offers addresses two significant challenges in Singapore’s e-commerce sector: the rising costs of accepting payments and high cart abandonment rates. By steering customers towards specific payment methods with visible discounts, the feature provides a strategic tool for merchants to enhance their sales processes.

As merchants in Singapore continue to grapple with these challenges, Razorpay Offers presents a timely solution, potentially reshaping the e-commerce landscape by optimising payment processes and reducing associated costs.

The latest Cigna Healthcare International Health Study 2025 reveals that eight in 10 Singaporeans experience stress, with disrupted sleep being a common consequence for nearly half of them. The study, which surveyed over 11,000 respondents across 13 markets, highlights that financial well-being is a significant concern, with 39% of Singaporeans rating their financial health as “fair” or “poor”.

Despite stable mental well-being, with over a third of respondents rating it as “excellent” or “very good”, stress remains prevalent. The primary stressors include the cost of living (53%), uncertainty about the future (47%), and personal finance (43%). Raymond Ng, CEO & Country Manager of Cigna Healthcare Singapore & Australia, emphasised the need for a holistic approach to healthcare, stating, “Health and vitality are key to building resilient communities.”

The study also found that whilst nearly half of the respondents reported negative impacts from poor mental health, 89% did not seek counselling or therapy in the past year. This suggests a need to destigmatise mental health support.

On a positive note, Singaporeans demonstrate a strong exercise culture, with 66% exercising regularly, surpassing the Asia-Pacific average. Additionally, 47% of respondents are optimistic about AI’s potential to reduce healthcare wait times.

Overall, the report underscores the importance of addressing financial stress and promoting mental health support to enhance the well-being of Singaporeans.

PERSOL Singapore has released its Singapore Salary Guide 2025/26, offering a detailed analysis of salary trends and workforce transformations in the city-state. The guide forecasts salary increments averaging 3% to 5%, driven by technological adoption, skills-based hiring, and changing employee expectations. It also highlights the rise of AI-driven recruitment tools and hybrid work models, which are reshaping talent acquisition and retention strategies.

The guide provides sector-specific insights, noting robust salary growth of 8-12% in technology roles such as AI, cybersecurity, and cloud computing. In healthcare and life sciences, demand is growing for clinical researchers and medtech engineers, with competitive salaries for hybrid roles. Financial services are focusing on digital transformation and sustainable finance, offering premiums for professionals with expertise in AI automation and ESG compliance.

In professional services, cross-disciplinary skills in sustainability and digital transformation are valued, whilst manufacturing and engineering roles in robotics and industrial automation command premiums due to Industry 4.0 adoption. The education sector sees higher compensation for those with digital fluency, and transportation and logistics are experiencing salary growth due to digital platforms and sustainable solutions. Construction is focusing on green building standards, and retail and F&B sectors are recovering with wage growth at lower levels.

Foo See Yang, Managing Director of PERSOL Singapore, stated, “The 2025 Salary Guide reflects a Singapore labour market at the crossroads of rapid technological change and evolving workforce expectations. Organisations that embrace skills-based hiring, data-driven insights, and agile work models will be best positioned to attract and retain top talent.”

PERSOL Singapore aims to help organisations and professionals stay ahead of market changes with informed strategies and actionable insights. For more details, the full guide is available on their website.

SDAI Limited has signed a non-binding Memorandum of Understanding (MoU) with Hubei Qiai Group to establish a platform for bringing China’s mugwort products to global markets. This strategic move is set to capitalise on the growing popularity of mugwort, a traditional herb known for its soothing and aromatic qualities, which is gaining traction in wellness, beauty, and food industries worldwide.

Founded in 2021, Hubei Qiai has rapidly become a leader in China’s Traditional Chinese Medicine sector, focusing on the high-growth mugwort industry. The company operates across the entire value chain, from cultivation to distribution, and boasts a retail network of over 13,000 outlets across China. Hubei Qiai’s innovative approach includes transforming traditional moxibustion therapy into electric-based solutions, enhancing user experience and scalability.

The global mugwort market is projected to grow from $531.90m in 2025 to $798.75m by 2032, reflecting a compound annual growth rate of 5.94%. This partnership aims to tap into this expanding market, diversifying SDAI’s revenue streams and strengthening the international presence of mugwort products.

Executive Chairperson of SDAI, Hao Dongting, expressed enthusiasm about the collaboration, stating, “We are truly thrilled to partner with the leading name in the mugwort industry. This collaboration marks an exciting milestone as we expand into the fast-growing mugwort sector.”

As SDAI continues its transformation into a biotechnology company, this partnership with Hubei Qiai represents a significant step in its strategic expansion, potentially creating sustainable value for its shareholders.

A recent survey by UnaFinancial has highlighted that 69% of Singaporeans tend to increase their spending during the year-end season, with travel expenses accounting for nearly half of this increase. Conducted among 400 consumers across Singapore, the Philippines, Vietnam, and Indonesia, the survey reveals that travel is the primary reason for heightened spending, followed by gifts and celebrations, home and family expenses, and shopping.

The survey indicates that Singaporeans are the most conservative spenders in the region, with only 69% reporting increased spending compared to 73% of Filipinos, 88% of Vietnamese, and 84% of Indonesians. Despite this, travel remains the top spending category for Singaporeans at 48%, with gifts and celebrations at 23%, home and family expenses at 19%, and shopping at 7%.

Borrowing habits in Singapore also reflect a cautious approach, with only 14% of respondents indicating an increase in borrowing during the festive season. Furthermore, 15% have previously used online non-bank loans, and 27% plan to do so this year, primarily to fund holiday trips.

Analysts at UnaFinancial noted, “The data shows that year-end spending and borrowing patterns vary across Southeast Asia. Travel leads spending regionally—especially in Indonesia and Singapore. At the same time, Singaporeans remain more cautious with borrowing.”

UnaFinancial, headquartered in Singapore, is known for developing digital financial solutions and has served over 20 million clients globally, facilitating loans worth over $2b.

LogicMonitor, a leader in AI-first hybrid observability, has announced a strategic partnership with SiS Technologies, a Singapore-based IT distributor, to enhance digital infrastructure across Southeast Asia. This collaboration aims to provide enterprises with unified visibility and predictive intelligence, building on LogicMonitor’s recent launch of a data centre in Singapore.

The partnership is set to accelerate the adoption of LogicMonitor’s LM Envision platform, which integrates monitoring, log intelligence, and predictive insights to transform telemetry into actionable foresight. This move is crucial as enterprises increasingly adopt hybrid and multicloud architectures, necessitating real-time observability and intelligent automation.

Richard Gerdis, vice president and general manager of LogicMonitor Asia-Pacific, emphasised the importance of the partnership, stating, “Combining our industry-leading observability platform with SiS Technologies’ proven distribution capabilities and deep understanding of Singapore’s technology landscape will allow us to meet this demand.”

SiS Technologies, with over 30 years of experience in IT distribution, is recognised for its focus on cybersecurity, infrastructure, and networking technologies. Sam Chng, managing director of SiS Technologies, expressed enthusiasm for the partnership, noting that LogicMonitor’s platform aligns with their mission to deliver advanced IT and cybersecurity solutions.

As LogicMonitor continues to expand its footprint in the Asia-Pacific region, the partnership with SiS Technologies is expected to drive regional resilience and growth, providing enterprises with the tools needed to maintain performance, reliability, and operational excellence in complex IT environments.

Singaporean business leaders are increasingly cautious, with many opting to pass on tariff-related costs to customers, according to a new study by Sandpiper. The research, which surveyed over 3,000 executives across 28 markets, highlights a significant shift in corporate strategies due to escalating geopolitical tensions and trade tariffs.

The study found that 25% of Singapore-based leaders plan to pass all tariff costs to customers, whilst 41% will pass on most. This is slightly higher than the global averages of 24% and 42%, respectively. Additionally, 34% of Singaporean executives have halted major investment decisions, and 17% have imposed hiring freezes.

Emma Smith, CEO of Sandpiper, expressed concern over the drastic measures being taken. “It is worrying that so many Singapore-based and global business leaders feel they have to take such dramatic action to reduce their vulnerability to the geopolitical and technological upheavals of 2025,” she said.

The survey also revealed that 65% of Singaporean leaders believe China holds a stronger position in trade negotiations compared to the US, reflecting a broader pessimism about the likelihood of a swift resolution to the ongoing trade conflicts.

As businesses brace for continued turbulence, the findings underscore the need for strategic adaptation. Sandpiper’s research suggests that companies must navigate these challenges carefully, balancing immediate cost pressures with long-term sustainability. The study serves as a critical reminder of the complex landscape facing global business leaders today.

Yangzijiang Maritime, Centurion Accommodation REIT (CAREIT), and Golden Agri-Resources are set to join the iEdge Singapore Next 50 Index on 22 December. These additions could see the trio rank among the top 15 constituents based on indicative weights as of 28 November. The iEdge Singapore Next 50 Index comprises 50 of the largest capitalised and most actively traded Mainboard-listed stocks, excluding Straits Times Index constituents.

The inclusion of these companies follows a quarterly rebalance of the index, which is based on constituent screenings conducted on 28 November. The combined weightage of the three entrants is expected to be around 9%, a significant increase from the current 1% weightage of Samudera Shipping Line, Nanofilm Technologies International, and Aztech Global, which will move to the Next 50 Index Reserve List.

The index has shown a strong correlation with the FTSE ST Mid & Small Cap Index in Q4 2025, with an r-squared of 0.9, and has generated a 1.5% total return to 8 December. Stocks such as PropNex and China Sunsine Chemical have seen a notable increase in trading activity in the second half of 2025, averaging 59% total returns.

The rebalance results will take effect with the market open on 22 December, and the detailed weightages may adjust based on relative price performances and corporate actions of the constituents. The next rebalance is scheduled for March, which could further alter the index’s composition.

Nippon Express Singapore, a subsidiary of Nippon Express Holdings, has completed a significant expansion of its Tuas Global Logistics Centre on Singapore’s western seafront. The expansion, marked by a ceremony on 21 November, adds 9,200 square metres of warehouse space to support growing demand from the Johor-Singapore Special Economic Zone (JS-SEZ).

The Tuas Global Logistics Centre’s strategic location near the new Tuas Port and major expressways enhances its accessibility, making it a pivotal hub for logistics operations. The proximity to the southern Malaysian state of Johor, where the JS-SEZ is fostering development, positions the centre as a key player in regional economic growth.

The expansion is designed with a flexible layout to accommodate fluctuating demand, ensuring the facility can adapt to market changes. This development aligns with Singapore’s broader Tuas Mega Port Project, which aims to consolidate port functions and establish a world-class container handling facility by 2040.

Nippon Express Singapore’s investment in the Tuas facility underscores its commitment to supporting regional logistics and supply chain needs. The enhanced infrastructure is expected to bolster the company’s ability to serve businesses operating within the JS-SEZ, further integrating the logistics network between Singapore and Malaysia.

As the Tuas Mega Port Project progresses, the expanded logistics centre is poised to play a crucial role in facilitating efficient trade and transport in the region, contributing to Singapore’s status as a global logistics hub.