Industry News

Singapore Exchange (SGX) has announced that, as of early 2026, 100 stocks are now trading at over S$1m in average daily turnover (ADT). This milestone reflects a robust increase in trading activity, highlighting the growing investor interest in the Singapore market.

The Assembly Place (TAP) and Toku are among the latest companies to debut on the SGX Catalist, contributing to the vibrant trading environment. TAP, Singapore’s largest community living operator, began trading on 23 January 2026. It manages over 3,400 keys across 100 properties and aims to expand to 10,000 keys by 2030. Toku, which debuted on 22 January 2026, raised S$16.3m through its initial public offering. The company plans to use the proceeds to expand its AI-powered customer experience platform and explore strategic acquisitions.

Stocks whose average daily trading turnover (ADT) has moved to above S$1m in January (from below in 2H25 & full 2025 year) included PC Partner, EFH, Ley Choon, Aoxin Q & M, Bukit Sembawang, InnoTek, Pacific Radiance, GuocoLand, Raffles Education, Sunpower, and IX Biopharma. Their combined ADT grew from S$3.3m in 2025 to S$23.1m in January 2026.

Looking ahead, the SGX’s strategic initiatives and the continued influx of new listings are expected to sustain the momentum in trading volumes, reinforcing Singapore’s position as a leading financial hub in the region.

Revolut, the global fintech company, has announced its plans to bolster its presence in Asia by expanding its operations from Singapore. Supported by the Singapore Economic Development Board (EDB) and its investment arm, EDBI, Revolut aims to accelerate product innovation and regional growth. The company plans to triple its workforce over the next three years, focusing on high-skilled roles in engineering, product development, data, and artificial intelligence.

Revolut’s expansion is part of a broader strategy to strengthen Singapore’s position as a leading global fintech and innovation hub. The company, currently valued at US$75b, has already doubled its headcount in Singapore from 2024 to 2025. It has also launched the Rev-celerator Internship and Graduate Programmes, offering successful candidates opportunities to work in offices in Poland, the UK, the UAE, and Spain.

Raymond Ng, CEO of Revolut Singapore and Southeast Asia, expressed gratitude for the support from EDB and EDBI, stating that their commitment to building Singapore as a global innovation hub has been invaluable. Victor Stinga, CFO at Revolut, highlighted that the investment from EDBI endorses Revolut’s long-term vision in Asia.

The expansion in the region includes the recent launch of a Global Tech Hub in Manila, and Revolut is evaluating further market expansions across Asia. EDB’s Executive Vice President, Chan Ih-Ming, noted that Revolut’s growth reflects confidence in Singapore as a stable base for accessing Asia’s markets, and its commitment to talent development will create new opportunities for local talent in the fintech sector.

The Singapore Aviation Academy and École Nationale de l’Aviation Civile have launched an Advanced Master in Air Transport Management, targeting the Pacific Small Island Developing States. Unveiled on 1 February 2026 at the Fullerton Hotel in Singapore, the programme seeks to bolster aviation leadership and safety in these regions. The initiative is part of the Enhanced Framework Agreement for Civil Aviation between Singapore and France, reflecting a commitment to sustainable air transport development.

The 18-month programme, starting on 5 May 2026, will be delivered by senior faculty and practitioners from both institutions. It includes twelve modules covering aviation management, safety, regulatory oversight, and strategic leadership, culminating in a professional thesis. The inaugural cohort will consist of around 20 officers from civil aviation authorities and state-owned aviation organisations in the Pacific islands. The course, fully funded by France, Singapore, and other stakeholders, will be held in Fiji with some virtual modules.

Han Kok Juan, Director-General of the Civil Aviation Authority of Singapore, stated, “The joint programme brings together complementary expertise of Singapore and French civil aviation authorities and aviation training academies to help build leadership capabilities in the Pacific Small Island Developing States.” Chems Chkioua, Director-General of the Direction Générale de l’Aviation Civile, added, “This programme is specifically designed for the senior leadership and top management of Civil Aviation Authorities from the Small Island States of the Pacific.”

This collaboration underscores the strategic partnership between Singapore and France, aiming to ensure no country is left behind in aviation advancements.

Singapore’s services sector is maintaining a positive outlook for the first half of 2026, according to the latest Business Expectations Survey by the Singapore Department of Statistics. The survey reveals that 15% of firms anticipate improved business conditions, whilst 11% foresee a decline, resulting in a net weighted balance of 4% expecting a favourable outlook.

The Retail Trade industry is particularly optimistic, buoyed by the upcoming Chinese New Year festivities. Supermarkets are leading this positive sentiment, expecting increased consumer spending. Similarly, the Wholesale Trade industry is hopeful, driven by the ongoing Windows 11 refresh and corporate hardware renewals, alongside growth in Artificial Intelligence-related products.

The Recreation, Community & Personal Services industry also projects a positive outlook, with childcare centres and health services providers expecting sustained demand. However, the Transportation & Storage industry anticipates challenges due to an oversupply of vessels and weakening cargo demand, compounded by global economic uncertainties and geopolitical tensions.

For the first quarter of 2026, the services sector expects a 3% net weighted balance increase in operating revenue. Retail and Recreation, Community & Personal Services industries foresee higher revenues, with the former benefiting from festive spending and the latter from increased demand for healthcare and childcare services.

Employment prospects are also promising, with a net weighted balance of 8% of firms planning to increase hiring. The Retail Trade and Recreation, Community & Personal Services industries are expected to lead this trend, preparing for heightened demand during the festive season and beyond.

Soon Hock Enterprise Holdings Limited has announced an anticipated significant increase in revenue and net profit for the financial year ending 31 December 2025 (FY2025), compared to the previous year. This improvement is largely due to the partial Temporary Occupation Permit (TOP) received on 11 December 2025 for its industrial development project, Stellar@Tampines. The permit allowed the company to recognise sales revenue as customers gained control of their units.

The company’s Board of Directors revealed that the eligible customers of units on Levels 1 to 8 of Stellar@Tampines received their Notice of Vacant Possession (NOVP) by FY2025, contributing to the financial upturn. This marks a notable change from FY2024, which saw no comparable completed industrial development projects.

Soon Hock Enterprise is currently finalising its unaudited consolidated financial results for FY2025, with a detailed announcement expected around 23 February 2026. The company advises shareholders and potential investors to exercise caution when dealing with its shares and to seek professional advice if needed.

Singapore is set to become the world’s first airport testbed for next-generation propulsion technologies, following a Memorandum of Understanding (MOU) signed by the Civil Aviation Authority of Singapore (CAAS), CFM International, and Airbus. The agreement, signed at the Changi Aviation Summit on 2 February 2026, focuses on testing CFM’s Revolutionary Innovation for Sustainable Engines (RISE) technologies, particularly the Open Fan engine architecture.

The collaboration aims to develop a comprehensive readiness framework for integrating Open Fan engines into existing airport operations. This includes considerations for aircraft system design, infrastructure modifications, operational procedures, safety standards, and regulatory measures. The framework will serve as a global blueprint for airframers, airports, and airlines.

The RISE programme, led by CFM, seeks to advance commercial aircraft engine technologies, promising over 20% better fuel efficiency than current engines. The Open Fan architecture, a key feature, is designed to reduce emissions and noise whilst being compatible with future hybrid-electric systems.

Operational trials of the Open Fan engine demonstrators are planned at Singapore Changi Airport or Seletar Airport to validate the framework and assess the technology’s feasibility. Han Kok Juan, Director-General of CAAS, highlighted Singapore’s role as an integrated air hub, stating that the partnership underscores the country’s regulatory expertise and capability to testbed new technologies.

Gaël Méheust, CEO of CFM International, emphasised the importance of real-world demonstrations to build confidence in the new technology’s safety and efficiency. Remi Maillard of Airbus expressed excitement about advancing propulsion technologies in Singapore’s state-of-the-art aerospace ecosystem.

The Association of Banks in Singapore (ABS) has announced that banks will cease using NRIC numbers for authentication by 1 January 2027, in compliance with advisories from the Personal Data Protection Commission (PDPC) and the Monetary Authority of Singapore (MAS). This move aims to enhance security and privacy in financial transactions.

Currently, NRIC numbers are not used for most financial transactions such as payments and funds transfers, which require multi-factor authentication. However, some banks still use NRIC numbers for non-transactional purposes, like opening encrypted email attachments. These banks will transition to alternative authentication methods in the coming months.

Ong-Ang Ai Boon, Director of ABS, stated, “Banks are committed to phasing out the use of NRIC numbers for authentication, in line with advisories from PDPC and MAS.”

The PDPC’s directive, issued on 2 February 2026, mandates that organisations stop using NRIC numbers for authentication by the start of 2027. This initiative is part of a broader effort to protect personal data and enhance cybersecurity measures across various sectors.

ABS, established in 1973, represents over 150 local and foreign banks in Singapore. It plays a crucial role in promoting the interests of the banking community and works closely with government authorities to develop a robust financial system in Singapore. More information about ABS can be found on their website.

The Civil Aviation Authority of Singapore (CAAS), the Singapore Sustainable Aviation Fuel Company Ltd. (SAFCo), and nine prominent companies have initiated Singapore’s first voluntary Sustainable Aviation Fuel (SAF) procurement trial. This initiative, announced at the 3rd Changi Aviation Summit on 2 February 2026, involves companies such as Boston Consulting Group, Changi Airport Group, DBS Bank, and Singapore Airlines, among others. The trial aims to test the operational, commercial, and accounting processes necessary for a national SAF procurement system.

The trial is a crucial step in Singapore’s strategy to incorporate SAF into its aviation sector, with a goal of using 1% SAF for flights departing the country. From 1 October 2026, a SAF Levy will be applied to flights leaving Singapore to support this initiative. SAFCo, established by CAAS in October 2025, will manage the central procurement of SAF, aggregating both regulated and voluntary demand to create a scalable SAF ecosystem.

Participants in the trial will benefit from reduced emissions, practical insights into SAF procurement, and cost-effective access to SAF through SAFCo’s aggregated demand. Han Kok Juan, Director-General of CAAS, expressed optimism about the trial, stating, “We are encouraged by the strong commercial interest. By aggregating demand, we seek to grow a robust and efficient SAF ecosystem.”

This trial marks a significant move towards decarbonising Singapore’s aviation sector, with the potential to influence regional adoption of SAF.

Global agribusiness Golden Agri-Resources (GAR) has announced a strategic partnership with Singapore-based climate tech firm Arkadiah Technology to improve the monitoring and protection of Southeast Asia’s tropical forests. Supported by the Singapore Economic Development Board (EDB) and the Office for Space Technology and Industry (OSTIn), this initiative will deploy advanced Digital Monitoring, Reporting and Verification (DMRV) technologies over a five-year project in West Kalimantan, Indonesia.

The collaboration seeks to address the unique challenges of measuring carbon in the region’s mosaic tropical landscapes, which are crucial for climate change mitigation. By utilising Arkadiah’s cutting-edge solutions, the project will establish rigorous baseline measurements for land cover, biomass, and carbon stock. This will involve high-resolution satellite data, LiDAR scanning, and AI-enabled geospatial modelling to create 3D digital twins of forest areas.

Haryanto Kurniawan, Head of Carbon and Renewables at GAR, emphasised the importance of data-driven climate action, stating: “With Arkadiah’s technical capabilities and the support of EDB, we see an opportunity to improve transparency and integrity in measuring forest carbon.”

The initiative is part of EDB’s Corporate Venture Launchpad programme, which fosters corporate-startup partnerships. The collaboration will also produce technical insights to guide best practices in carbon measurement, reinforcing Singapore’s role as a regional centre for carbon services.

Reuben Lai, CEO of Arkadiah Technology, expressed pride in supporting GAR with advanced technologies, whilst Chen Yiwen, Vice President of EDB, highlighted the partnership’s role in strengthening Singapore’s participation in global carbon markets.

Knight Frank Singapore has reported a significant rise in auction listings for Q4 2025, with a total of 134 properties listed, marking a 24.9% year-on-year increase. The surge is attributed to improved financing conditions, encouraging more buyers to engage in deals both in traditional auction halls and via Knight Frank’s Bidding app.

The total gross sales value for Q4 2025 was S$7.4m, a sharp 73.1% decrease from the previous quarter, yet reflecting a 136.8% year-on-year increase. The quarter saw four successful sales, including non-landed homes and commercial properties, with a success rate of 3.0%.

Residential properties dominated the listings, comprising 49.3% of the total, followed by retail and industrial units. The rise in retail listings, up by ten from the previous quarter, is linked to operational cost pressures and evolving retail dynamics in Singapore.

Sharon Lee, Head of Auction & Sales at Knight Frank Singapore, noted the impact of technology on auctions, with two properties sold via the auction app. These included a two-bedroom flat at Adria and a condominium unit at Lakeshore, both achieving prices above their opening bids.

Looking ahead, Knight Frank anticipates steady auction sales in 2026, driven by easing interest rates and a diverse range of properties attracting buyers. Residential listings are expected to remain the largest category, with industrial and retail properties also maintaining activity. Success rates are projected to hover around 5%, supported by continued buyer confidence.