Industry News

AJJ Medtech Holdings Limited and Hangzhou Huaxi Intelligent Technology Co., Ltd. have signed a Memorandum of Understanding (MOU) to jointly develop the world’s first multifunctional humanoid elderly care robot. This collaboration aims to address the growing demand for elderly care services, particularly in Singapore, where the population of seniors aged 65 and above is projected to reach 1.5 million by 2030.

The partnership will establish a joint venture in Singapore to develop and commercialise the robot, which will serve as a testbed for global expansion into markets such as Southeast Asia, Europe, and the United States. The robot will feature multi-language support, assisted living care, medical monitoring, and emotional interaction capabilities, making it suitable for various settings, including nursing homes and hospitals.

Huaxi Intelligent’s first-generation HT-XI humanoid robot has already secured over 1,000 pre-orders, indicating strong market interest. The collaboration aligns with Singapore’s healthcare strategy and global ageing trends, focusing on “Aging-in-Place” policies that promote community and home-based care solutions.

AJJ Medtech’s CEO, Zhao Xin, emphasised the potential for this collaboration to elevate the company’s technological and commercial standing in the Southeast Asian market. However, the project faces uncertainties, including regulatory approvals and market volatility, which may impact its timeline and success.

The companies plan to conduct clinical trials and pilot applications in Singapore’s nursing homes and medical institutions, with further announcements expected as the project progresses.

Standard Chartered is ramping up its training initiatives in generative artificial intelligence (Gen AI) and data for its employees in Singapore and globally. This move is part of the bank’s strategy to leverage technology for innovation and efficiency, ensuring it remains at the forefront of cross-border and affluent banking. The bank has committed over S$4.5m to these training programmes, which have already seen participation from more than 15% of its Singapore-based workforce.

The training includes a foundational AI literacy course, accredited by the Institute of Banking and Finance (IBF), and is part of a broader initiative called SkillsFuture@SC. This programme aims to empower employees to adapt to the evolving banking landscape. Patrick Lee, CEO of Singapore and ASEAN at Standard Chartered, emphasised the bank’s commitment to being a skills-based organisation, stating, “We aim to empower our people through continuous learning, enabling them to transform the work they do.”

In addition to the AI Learning Hub launched last November, the bank introduced its Gen AI tool, SC GPT, in March, enhancing operational efficiency and client engagement. A new Data Management Learning Marathon has also been launched to educate employees on data management and responsible AI.

Standard Chartered’s efforts have been recognised with the IBF Advance Award for Skills Development in Sustainable Finance. Furthermore, three senior leaders were named IBF Fellows for their contributions to the financial industry in Singapore. The bank’s ongoing investment in talent aims to bolster Singapore’s status as a leading financial hub.

In the latest Retail Report for Q3 2025, Knight Frank Singapore highlights the critical need for differentiation in the retail sector to survive in an increasingly competitive market. Ethan Hsu, Head of Retail at Knight Frank Singapore, emphasises that success depends on standing out from the mass of similar offerings.

The report reveals that the average gross rent for prime retail spaces saw a modest increase, with island-wide prime retail rent rising by 0.5% quarter-on-quarter to S$28.40 per square foot per month. This growth is attributed to the swift absorption of vacated units by well-capitalised occupiers, despite some retailers exiting the market due to challenging conditions.

Retail sales, excluding motor vehicles, reached S$7.2b in July and August 2025, surpassing the S$6.9b recorded in April and May. The retail sales index saw significant growth in recreational goods, furniture, and household equipment, partly due to government vouchers boosting discretionary spending.

Despite the rise of e-commerce, which stabilised at 12% to 15% of total retail sales post-pandemic, physical stores remain vital for luxury, lifestyle, and entertainment sectors. The report notes that international chains with deeper financial resources are entering the market, raising competition for local operators.

Cross-border shopping presents additional challenges, with Singaporeans spending over S$1b billion in Johor in the first eight months of 2025. This trend underscores the need for Singapore retailers to focus on unique offerings to retain shoppers.

Looking ahead, rental growth is expected to ease, with annual gains projected between 1% and 3%. Landlords are balancing leasing revenue with considerations like trade-mix and community character to support long-term viability.

Researchers from Nanyang Technological University, Singapore (NTU Singapore) and the Singapore-MIT Alliance for Research and Technology (SMART) have developed innovative antimicrobial compounds to combat bovine mastitis, a costly infection affecting the dairy industry. This breakthrough offers a sustainable alternative to antibiotics, addressing concerns over antibiotic resistance and milk contamination.

The novel compounds, known as oligoimidazolium carbon acids (OIMs), were tested in preliminary farm trials, demonstrating their effectiveness in preventing udder infections without adverse effects on milk quality. Professor Mary Chan from NTU Singapore highlighted the potential of these compounds, stating they “didn’t spoil the cows’ milk nor make it unsafe for consumption.”

The research, published in *Nature Communications*, has attracted interest from agricultural companies in Australia, Belgium, Malaysia, and New Zealand. These firms are keen to explore the commercial potential of OIMs as a safer, environmentally friendly alternative to traditional antiseptics like iodine and chlorhexidine, which can irritate udders and harm the environment.

Professor Paula Hammond from MIT noted the team’s plans to collaborate with industry partners for larger trials and commercialisation. The compounds’ ability to kill multi-drug-resistant bacteria in mice suggests further applications in the biomedical field, according to Professor Kevin Pethe of NTU.

The development of OIMs represents a significant step forward in addressing the challenges faced by the dairy industry, offering a promising solution to reduce the reliance on antibiotics and improve sustainability.

CapitaLand Investment Limited (CLI) and its associated funds have solidified their leadership in environmental, social, and governance (ESG) practices, as evidenced by their performance in the 2025 GRESB Real Estate Assessment. CLI and its listed real estate investment trusts (REITs) achieved significant improvements in their GRESB scores, with CapitaLand Integrated Commercial Trust (CICT), CapitaLand China Trust (CLCT), and CapitaLand India Trust (CLINT) maintaining their prestigious 5-star ratings. Additionally, the CapitaLand Open End Real Estate Fund (COREF) earned its inaugural 5-star rating.

CLI, along with CapitaLand Ascendas REIT (CLAR) and CapitaLand Ascott Trust (CLAS), retained a 4-star rating. Notably, CLAS secured the top position in the Listed Hotel, Globally Diversified category for the fifth consecutive year. CapitaLand Malaysia Trust (CLMT) improved its rating from three to four stars, whilst the CapitaLand Ascott Residence Asia Fund II (CLARA II) also achieved a 4-star rating. These performances will result in interest rate savings from sustainability-linked loans.

Vinamra Srivastava, Chief Sustainability & Sustainable Investments Officer at CLI, stated, “CLI, our listed and private funds continue to lead in GRESB, reflecting our commitment to embedding sustainability across the fund management lifecycle.”

In addition to GRESB achievements, CLI and CICT maintained their MSCI ESG Ratings of ‘AAA’ and ‘AA’, respectively, for the fourth year. CLI also remained on the FTSE4Good Index for the 12th consecutive year, highlighting its ongoing commitment to sustainable practices.

XCoffee, a Singapore-based beverage technology company, has launched the region’s first AI-powered smart robotic beverage machine, aiming to transform the coffee and tea experience. The machine, which serves both hot and cold beverages, combines artificial intelligence, data analytics, and precision engineering to deliver freshly brewed drinks around the clock. This innovation is designed to replicate the quality and consistency of a barista-made beverage whilst maintaining high operational efficiency.

The XCoffee machine uses freshly roasted coffee beans and premium tea leaves, grinding and brewing each cup on demand to preserve natural aromas and flavours without artificial additives. “XCoffee’s vision is to create a Singapore-born brand that reflects both precision and familiarity,” said Deric Yeo, Chief Operating Officer of XCoffee. The machine is developed and engineered locally, integrating technology with Singapore’s coffee culture.

Designed for high-traffic environments such as shopping centres, offices, and transport hubs, the machines operate 24/7, offering convenience without long queues. Following its Singapore launch, XCoffee has expanded to Malaysia and Indonesia, with plans to enter more ASEAN markets. The company aims to install 500 units across Singapore, leveraging strategic franchise and partnership opportunities.

With over 60% of Singaporeans drinking coffee daily, XCoffee is poised to meet the growing demand for convenient, high-quality beverages across Asia, blending technology, efficiency, and taste.

Women-owned businesses in Southeast Asia are driving corporate revenue growth, according to a report by the American Chamber of Commerce in Singapore (AmChamSG), Accenture, and WEConnect International. The report, launched at the 2025 AmChamSG SME ACCelerate Forum, highlights that a 5% increase in women representation in supplier leadership correlates with a 2.2% rise in corporate revenue.

The study analysed supplier diversity across 631 companies in Singapore, Vietnam, and Indonesia. Anoop Sagoo, CEO Southeast Asia at Accenture, emphasised the tangible benefits of embracing supplier diversity, stating that it enhances performance and revenue growth. However, women entrepreneurs still face significant barriers, such as complex procurement processes and long payment terms, which limit their access to large buyers.

In Singapore, only 23% of women-owned businesses supply to large buyers, compared to 34% in Vietnam and 58% in Indonesia. The report also found that Singaporean women entrepreneurs need more visibility and recognition, whilst those in Indonesia and Vietnam require training in finance, operations, or marketing.

Elizabeth Vazquez, CEO of WEConnect International, noted the risks and rewards of selecting new vendors, highlighting the importance of supplier diversity as a business advantage. Dr Hsien-Hsien Lei, CEO of AmChamSG, added that business networks can bridge gaps between multinational corporations, small and medium enterprises, investors, and policymakers, fostering a more inclusive business ecosystem.

The report underscores the potential for women-owned businesses to contribute significantly to economic growth in Southeast Asia, provided structural barriers are addressed.

Ransomware continues to be a significant threat to businesses in Singapore, with 0.18% of Kaspersky enterprise users affected in the first half of 2025. This figure, though seemingly small, highlights the targeted nature of ransomware attacks, which often focus on high-value targets such as large corporations and banks. Kaspersky, a global cybersecurity company, has identified the top five ransomware families targeting enterprises in Southeast Asia, including Trojan-Ransom.Win32.Wanna and Trojan-Ransom.Win32.Gen.

These ransomware types modify data on victim computers, rendering it unusable until a ransom is paid. Kaspersky’s findings also reveal that organisations in Southeast Asia faced an average of 400 ransomware attempts daily throughout 2024, totalling 135,274 blocked attacks.

Adrian Hia, Managing Director for Asia Pacific at Kaspersky, commented on the rise of AI-powered ransomware groups like FunkSec, stating that AI is lowering the cost and skill barriers for cybercriminals, making attacks more frequent and harder to detect. This development poses urgent challenges for governments, businesses, and individuals.

To combat these threats, Kaspersky recommends several best practices, including enabling ransomware protection for all endpoints, keeping software updated, and focusing on detecting lateral movements and data exfiltration. They also advise installing advanced threat discovery solutions and using the latest threat intelligence to stay informed about tactics used by cybercriminals.

Kaspersky continues to offer a range of cybersecurity solutions to protect organisations of all sizes, emphasising the importance of adapting to changing cybersecurity needs.

SC Capital Partners, a Singapore-based private equity real estate firm, has announced the sale of an education-focused commercial building in Daechi-dong, Gangnam, Seoul. The property, acquired in October 2016 for KRW26b, was sold for KRW54b, more than doubling its initial investment. The transaction was completed at a net operating income yield of below 3% based on the sale price.

Located in one of Seoul’s most prestigious education districts, the six-storey building boasts a gross lettable area of approximately 4,189 square metres and has maintained full occupancy. The area is known for its high concentration of schools, private tutoring academies, and upscale residential developments, which have contributed to stable rental growth and resilient performance during SC Capital Partners’ ownership.

The firm enhanced the tenant profile by transforming the ground floor retail space from a discount store to a trendy stationery gift shop, complementing the educational tenants. Additionally, proactive leasing initiatives significantly improved rental income.

Suchad Chiaranussati, Chairman and Founder of SC Capital Partners, stated, “This successful exit reflects our conviction in education as a long-term structural theme and our ability to generate value through active asset management.”

The sale underscores SC Capital Partners’ focus on the education sector, which is supported by strong structural demand in South Korea. The firm’s investment in the property exemplifies its strategy of leveraging thematic, locally grounded approaches to deliver robust outcomes for investors.

Singapore Airlines (SIA) is set to launch its Time To Fly travel fair in October 2025, presenting over 380,000 discounted tickets across SIA and its low-cost subsidiary, Scoot. The promotional fares are available for SIA flights from January to September 2026 and for Scoot flights from November 2025 to October 2026.

The online sales will be accessible from 24 October to 6 November 2025 through the SIA and Scoot websites, mobile applications, and appointed travel agents. Additionally, a physical travel fair will take place from 24 to 26 October 2025 at the Suntec Singapore Convention and Exhibition Centre, featuring deals from over 30 travel agents and partners.

SIA is offering promotions on more than 200,000 return tickets across Business Class, Premium Economy Class, and Economy Class to 77 global destinations, including Brisbane, Frankfurt, Ho Chi Minh City, San Francisco, and Taipei. Scoot will provide discounts on over 180,000 one-way fares to 61 destinations, including new routes to Chiang Rai, Da Nang, Nha Trang, Tokyo (Haneda), and Vienna.

Vinod Kannan, Senior Vice President Sales and Marketing at Singapore Airlines, highlighted the fair’s significance, stating, “Time To Fly has become an annual highlight for our Singapore-based customers.” Calvin Chan, Chief Commercial Officer at Scoot, added, “We look forward to having even more travellers journey with Scoot, creating memorable travel stories at even greater value.”

The fair will also feature exclusive giveaways, including a grand lucky draw prize of three pairs of SIA Business Class return tickets to Beijing, Manila, and Sydney, with hotel accommodation. Additional prizes include SIA Business Class return tickets to Denpasar, Osaka, and Malé, as well as Scoot vouchers worth up to $1,460 (S$2,000).