Industry News

Strategic Marine has signed the Protocol of Delivery and Acceptance (PODA) with Mainprize Offshore for the MO15 and MO16 vessels, marking a significant step in their ongoing partnership. These vessels are part of Mainprize Offshore’s strategy to expand its fleet, following a multi-vessel contract agreed at Seawork 2024, Europe’s largest on-water commercial marine exhibition.

The MO15 and MO16 vessels, designed by Walker Marine Design, are tailored for the offshore renewables sector in Europe. They feature advanced propulsion systems, enhanced seakeeping performance, and modern navigation technologies, ensuring stability and efficiency in challenging offshore environments. This design is part of the Supa Swath series, known for its versatility and operational efficiency.

Bob Mainprize, Managing Director of Mainprize Offshore, expressed confidence in the partnership, stating, “The signing of the PODA for MO15 and MO16 marks another important milestone in our partnership with Strategic Marine. Their proven track record in delivering robust, high-performance vessels gives us confidence that both vessels will strengthen our fleet’s ability to support offshore renewables projects across Europe.”

Strategic Marine’s CEO, Chan Eng Yew, highlighted the significance of the agreement, saying, “This agreement reflects our shared commitment to delivering innovative vessel solutions that meet the evolving needs of the offshore renewables industry and underscores the strength of our partnership.”

As the demand for offshore wind operations grows, Mainprize Offshore is positioning itself to meet increasing maintenance and operational requirements across Europe, with Strategic Marine playing a crucial role in this expansion.

ST Telemedia Global Data Centres (STT GDC) has announced a strategic partnership with Alibaba Cloud and Tech Talent Assembly, under the National Trades Union Congress (NTUC), to promote the adoption of generative and agentic AI across Singapore. The initiative, revealed at the Qwen Conference 2026, aims to support up to 1,000 enterprises, developers, and students by providing access to advanced AI tools, structured training, and practical implementation support.

The collaboration is designed to address the growing interest in AI by facilitating its practical application in businesses. Participants will have access to AI tools such as Qwen, Wan, Qoder, and QoderWork, alongside hands-on workshops and guided implementation support. The programme will also include an online AI infrastructure readiness assessment developed by STT GDC, enabling organisations to benchmark their preparedness and identify priority areas for AI adoption.

Desmond Tan, Senior Minister of State in the Prime Minister’s Office and Deputy Secretary General of NTUC, highlighted the importance of the initiative in supporting workers, particularly youths and professionals, managers, and executives (PMEs), in gaining the skills needed for the AI economy. “Through NTUC’s AI-Ready SG initiative, we will continue working closely with our partners to pool resources and strengthen impact on the ground,” he stated.

The programme, commencing in June 2026, places a strong emphasis on small and medium-sized enterprises (SMEs) and mid-career workers, aiming to shift sentiment from AI anxiety to AI agency. Lim Mingcheng, Country Head of STT GDC Singapore, emphasised the role of the partnership in enabling broader access and practical adoption of AI across the economy. Andy Lee, General Manager of Alibaba Cloud Singapore and Thailand, reiterated the commitment to making AI accessible to SMEs and students, equipping them with the necessary skills to innovate and remain competitive.

CEOs in Singapore are increasingly prioritising disciplined growth and long-term transformation through artificial intelligence (AI) and strategic transactions, despite geopolitical risks and macroeconomic uncertainties. According to the latest EY-Parthenon CEO Outlook Survey, which surveyed 1,200 global CEOs including 40 from Singapore, 71% of Singaporean CEOs identified geopolitical uncertainty as the most significant risk to their business over the next year.

The survey indicates that Singaporean CEOs are maintaining confidence in local growth, with a CEO Confidence Index score of 81.0, the second highest globally. This confidence persists even as 46% of respondents report that sustained energy price shocks pose significant challenges, highlighting the direct impact of geopolitical volatility on operations and finances.

AI investment remains a key strategic priority, with 68% of Singaporean CEOs planning to increase spending in 2026. However, regulatory challenges and skills gaps are potential hurdles, with 27% citing increased compliance complexity due to evolving AI regulations. Sriram Changali of EY-Parthenon notes, “AI has moved beyond the technology function to shape decisions across customer value, strategy, finance, and innovation.”

Talent strategies are also evolving, with 43% of Singaporean CEOs anticipating large-scale reskilling to integrate AI capabilities. Despite fears of AI-driven job reductions, only 18% foresee a decrease in hiring.

As for strategic deals, 88% of Singaporean CEOs plan to pursue mergers and acquisitions (M&A) with a focus on AI capabilities and long-term strategic fit. Singapore remains a top investment destination, followed by China and Malaysia. Geophin George of EY-Parthenon highlights the shift towards strategic alliances and selective M&A, driven by the need for AI capability and strategic alignment.

New data from Indeed reveals a decline in part-time job postings in Singapore, with the overall share dropping to 22.5% in April 2026 from 24% two years prior. Despite this trend, the education and administration sectors continue to offer the highest share of part-time opportunities, with education leading at 25.1% and administration following at 17.4%.

The finance sector, however, remains resistant to flexible work arrangements, with part-time roles constituting only 5.3% of job postings. Marketing has experienced the most significant year-on-year decline in part-time positions, highlighting a shift in the availability of flexible work options across different industries.

Career expert Saumitra Ranjan Chand from Indeed Singapore and India commented, “Part-time roles remain an important source of flexibility for workers seeking reduced-hour arrangements. Our analysis shows that these opportunities are more common in some sectors than others, with education and administration standing out among the professional categories we examined.”

The findings underscore the importance of part-time roles for individuals seeking work-life balance or phased retirement options. As the job market evolves, the availability of flexible work arrangements remains a critical factor for many professionals.

The Civil Aviation Authority of Singapore (CAAS) and Entry Point North (EPN) have signed a Memorandum of Understanding (MOU) to collaborate on air traffic services training. The agreement, signed on 26 May 2026 by CAAS Director-General Han Kok Juan and EPN CEO Anne Kathrine Jensen, aims to address the growing need for air traffic controllers as projected by the International Civil Aviation Organisation (ICAO).

With global air passenger volume expected to nearly triple over the next 25 years, the partnership seeks to enhance training capabilities through instructor exchanges, digital learning, AI-enabled simulation, and joint course development. The collaboration will also explore commercial opportunities in Southeast Asia and other regions.

Han Kok Juan stated, “This partnership with Entry Point North will help CAAS strengthen our training capabilities and enhance the training of our air traffic controllers as we ramp up recruitment to meet rising demand for air travel.” Anne Kathrine Jensen added, “This MOU creates a clear framework for how we can collaborate with CAAS on ATS training and related services.”

The initiative is set to promote best practices in aviation training, ensuring safe and efficient development within the industry. As air travel demand increases, this collaboration is poised to play a crucial role in preparing the next generation of air traffic controllers.

CBRE has announced the sale of four freehold, ground-floor retail units located in the vibrant Siglap precinct. The sale, managed through an Expression of Interest exercise, will conclude on 30 June 2026. These units, situated at Siglap V, boast a prime corner location with dual frontage on Siglap Road and East Coast Road.

The units are collectively priced at $13m, equating to approximately $3,552 per square foot on the strata area. They span a combined area of about 3,660 square feet and are fully leased, providing immediate rental income. Three units are occupied by a spa and massage establishment, whilst the fourth is leased to a hair salon. Notably, the sale is open to foreigners and corporate entities without the imposition of Additional Buyer’s Stamp Duty.

Michael Tay, Deputy Managing Director and Head of Capital Markets at CBRE Singapore, highlighted the rarity and demand for such properties in the Siglap precinct. “Ground-floor commercial units in the Siglap precinct are highly sought after and rarely available,” he stated. Tay also noted the strong interest from family offices and high-net-worth individuals due to recent interest rate reductions.

The location benefits from significant foot traffic from nearby residential areas and is conveniently accessible, being a short walk or drive from Siglap MRT station. It also offers easy connectivity to key areas like the Central Business District and Orchard Road, as well as major expressways such as the East Coast Expressway.

Singapore’s Central Business District (CBD) is renowned for its efficiency, yet a new study by global architecture firm Gensler suggests its future success may hinge on becoming a vibrant, experience-led hub. The City Pulse 2026 report, surveying over 35,000 residents across 75 cities, highlights a “Perception-Behaviour Gap” in Singapore: whilst 74% of respondents praise the CBD’s experience, only 55% visit outside work, and a mere 13% linger for leisure.

The study underscores the need for a transformation towards a mixed-use, walkable, and culturally rich environment. Angela Spathonis, Managing Director of Gensler Singapore, emphasised the importance of creating a city centre that people feel emotionally connected to, choosing to spend time there beyond work hours.

Singapore’s ongoing efforts to rejuvenate its Downtown Core align with these findings. Initiatives like the Urban Redevelopment Authority’s CBD Incentive Scheme aim to convert older office spaces into diverse live-work-play environments. Respondents envision a future CBD as a lively mixed-use district, a walkable green zone, and a cultural destination.

The research indicates a shift in measuring downtown success, focusing on “dwell time” rather than just foot traffic or office occupancy. Spathonis noted that successful CBDs offer moments of discovery and community, becoming the “living rooms of urban life.”

As Singapore continues to evolve districts like Marina Bay and Shenton Way, the challenge remains to create spaces that support social, cultural, and community life alongside business activities.

Singapore’s life insurance industry has reported a record S$5.08b in claims and maturity payouts for the first quarter of 2026, according to the Life Insurance Association, Singapore (LIA Singapore). This marks the highest payout for a first quarter since 2021, providing significant financial relief to individuals and families.

The industry fulfilled its commitments with 5,507 policies claimed, resulting in S$555m paid for critical illness, death, and total permanent disability. Additionally, S$4.52b was disbursed for 87,402 matured policies. Integrated Shield Plan (IP) policyholders received the majority of the S$712m in health claims, easing healthcare costs.

The life insurance sector saw a 14.3% year-on-year growth in total weighted new business premiums, reaching S$1.69b in Q1 2026. This increase reflects a growing trend among Singaporeans to bolster their financial resilience and address protection gaps amid economic challenges.

Annual premium policies remained dominant, accounting for S$1.23b, a 7.8% rise from Q1 2025. Single premium policies also saw a 36.5% increase, totalling S$463.3m, as individuals capitalised on available funds for long-term financial planning.

LIA Singapore President Wong Sze Keed noted, “Amid continual global uncertainty, we’re seeing individuals and families continue to take deliberate steps to strengthen their financial resilience.”

The uptake of Integrated Shield Plans and IP riders grew, with 33,000 additional residents enrolling before regulatory changes in April 2026. This reflects heightened awareness of health insurance’s role in financial planning. The industry remains focused on upskilling its workforce to leverage AI and enhance customer experiences.

Singapore-based EXPIScore has unveiled a groundbreaking customer experience (CX) rating system specifically designed to meet the expectations of Asian consumers. This new system aims to address the gap left by existing Western-centric rating frameworks, which often do not align with the preferences of the Asia-Pacific (APAC) market. The initiative comes as APAC consumers are poised to significantly increase their travel spending, presenting both opportunities and challenges for the global hospitality industry.

Developed by Dr. Marigold Kimura, an expert in human-centric customer experience, in collaboration with industry veteran Peter Holland, the EXPIScore system evaluates properties based on a comprehensive set of criteria. These criteria, covering nearly 200 items, are derived from consumer surveys conducted in Asia and are regularly updated to reflect shifting consumer expectations. Properties are assessed on their guest experience performance, resulting in a score out of 100 that corresponds with a star rating.

The system is currently available to serviced residences, residential, and office properties, with plans to expand to hotels and purpose-built student accommodation (PBSA). “Asian consumers tend to be more value-conscious, creating demand for trustworthy and personalised guest experiences,” said Dr. Kimura. This sentiment is echoed by Peter Holland, who noted the dynamic nature of APAC consumers’ needs and preferences.

With APAC consumers expected to drive a surge in travel spending, EXPIScore’s system offers hospitality providers a valuable tool for enhancing guest experiences and tapping into this lucrative market. The company plans to expand its reach across APAC and beyond, aiming to integrate the best of Western and Eastern hospitality practices.

The Housing and Development Board (HDB) has released an executive condominium (EC) site in Canberra Drive for tender under the government land sales programme. This marks the first EC site launch following recent changes to the EC Housing Scheme, which include a 10-year minimum occupation period and adjustments in financing options.

Despite these new measures, Wong Siew Ying, Head of Research and Content at PropNex, anticipates that the Canberra Drive EC plot could still attract interest due to its affordability compared to private condominiums. The site’s proximity to Canberra MRT station, Sembawang Shopping Centre, and local schools enhances its appeal for potential owner-occupiers.

However, developers might approach the bidding process cautiously. The recent policy changes, such as the removal of the Deferred Payment Scheme and a 90% priority quota for first-time buyers, could impact demand dynamics. Wong notes that the smaller development size of 185 units might deter some developers, although it poses a lower risk.

The Canberra Drive EC site is expected to receive two to four bids, with land rates estimated between $620 and $660 per square foot per plot ratio. This is slightly lower than the $692 per square foot per plot ratio achieved by a nearby EC site on Sembawang Road in September 2025.

As the government plans to transform the Sembawang Shipyard into a mixed-use waterfront district, the area is poised for further development, potentially boosting interest in the Canberra Drive site. However, developers are likely to remain cautious, considering how the new measures could affect future EC demand.