Industry News

The Competition and Consumer Commission of Singapore (CCS) is inviting public feedback on the proposed merger between Analogic Corporation and the Security Enterprise Solutions and Industrial and General Automation businesses of Leidos Inc. The merger, which was submitted for review on 14 July 2026, is under scrutiny to determine if it would significantly lessen competition in Singapore.

Analogic, controlled by Altaris LLC, operates globally in healthcare, industrial, and aviation security sectors, including the design and manufacture of advanced imaging and detection solutions. Leidos, based in Virginia, US, provides scientific and technical services, focusing on national security, defence, and health sectors. The merger would result in an overlap in the supply of checked and cabin baggage explosives detection systems (EDS) in Singapore.

The parties involved argue that the merger will not substantially reduce competition due to strong global and local competition, the ability of customers to switch suppliers, and the competitive nature of tender processes. They also claim that the merger will create a more capable company, enhancing their ability to meet global security needs.

CCS is seeking public input on the merger’s competitive impact from 22 July to 5 August 2026. Feedback can be submitted via the CCS website. The commission is particularly interested in views on how the merger might affect competition in the relevant markets. More details are available on the CCS website under the Public Consultation section.

UBS Asset Management’s tokenised USD money market investment fund, uMINT, has become available for secondary market trading on 1exchange, a regulated platform for tokenised real-world assets. This development, announced on 22 July 2026, is a result of a collaboration with CapBridge, an authorised distribution partner of uMINT. Built on the Ethereum blockchain, uMINT offers eligible investors exposure to an institutional-grade money market fund through distributed ledger technology.

The inclusion of uMINT on 1exchange provides an additional regulated venue for investors to access the fund beyond its primary distribution channel. Qualified buyers can now acquire uMINT from existing holders on the 1exchange trading platform, with trades settled instantly through the platform’s automated order-matching system. This move effectively enhances liquidity by enabling peer-to-peer transfers between eligible investors.

Sheena Lim, CEO of 1exchange, highlighted the significance of this development, stating, “As institutional adoption of tokenised assets continues to grow, secondary market infrastructure will play an increasingly important role in providing access to more liquidity beyond primary distribution.” The availability of uMINT on 1exchange supports the development of a more accessible and liquid ecosystem for tokenised real-world assets.

As a Recognised Market Operator regulated by the Monetary Authority of Singapore, 1exchange continues to expand its marketplace with institutional-grade tokenised assets, fostering a more connected and accessible ecosystem for investors. This initiative marks a step towards broader market participation and active trading of tokenised assets.

The Monetary Authority of Singapore (MAS) is expected to maintain its current Singapore Dollar Nominal Effective Exchange Rate (S$NEER) policy stance during its Monetary Policy Committee (MPC) meeting on 27 July 2026, according to RHB Bank’s latest report. The decision is anticipated amidst Singapore’s resilient economic growth and manageable inflation levels.

RHB Bank’s Group Chief Economist and Head of Market Research, Barnabas Gan, highlighted three key factors supporting this forecast. Firstly, Singapore’s economic growth remains robust, bolstered by improving macroeconomic conditions. Secondly, whilst inflation is manageable, some upward pressure is expected in the second half of 2026. Lastly, the S$NEER still has room for movement within its current band, which is perceived to have an appreciation of 1.0% with a band width of +/- 2.0%.

The upcoming MPC meeting will be the third for the year, and the decision to maintain the current policy stance reflects confidence in the country’s economic stability. The report underscores the importance of these factors in guiding MAS’s policy decisions, ensuring that Singapore’s economy continues to thrive amidst global uncertainties.

As the central bank prepares for its meeting, the focus remains on sustaining economic growth whilst keeping inflation in check. The outcome of the meeting will be closely watched by market participants and policymakers alike, as it will provide further insights into Singapore’s economic trajectory for the remainder of the year.

Singapore has unveiled the Professional Services (PS) Centre, a new initiative designed to streamline the process for businesses expanding across Asia. Officially launched by Indranee Rajah, Minister in the Prime Minister’s Office, the centre aims to connect businesses with essential professional expertise across the region.

Located at ISCA House, the Singapore PS Centre serves as the hub of a regional network that includes centres in Hongqiao, Shanghai, Ho Chi Minh City, and Nanjing, with Jakarta expected to join later this year. Future expansions are planned for Bangkok, Johor Bahru, and Shenzhen. This network provides businesses with access to local knowledge, professional expertise, and business connections through a single, coordinated platform.

The initiative is led by the PS Centre Alliance, which includes the Association of Small & Medium Enterprises, the Institute of Valuers & Appraisers, and the Singapore Business Federation, among others. The centre aims to address the complex challenges businesses face today, such as geopolitical shifts, changing trade policies, and AI disruption, by offering coordinated support from professionals in various fields including legal, accounting, and HR.

The Singapore PS Centre also introduces the Business Growth Clinic, where business owners can seek guidance on challenges like overseas expansion and AI adoption. Early results show success, with firms like Unity Assurance and Morningstar benefiting from the network’s support in China and Vietnam.

Lee Boon Teck, President of the Institute of Singapore Chartered Accountants, stated, “We are bringing together trusted professional firms, business associations, and local partners across Asia, making it easier for businesses to expand with confidence.” This initiative strengthens Singapore’s position as a global business hub, offering new opportunities for professional services firms to support clients expanding overseas.

HST Medical, a renowned Singaporean health supplement provider, has been acquired by Kowa Pharmaceutical Asia, a subsidiary of Japan’s Kowa Company, effective 29 May 2026. This strategic move is set to enhance HST Medical’s global reach, leveraging Kowa’s established networks and expertise.

The acquisition allows HST Medical to operate as a wholly-owned subsidiary, maintaining its leadership and brand identity. The company, known for its Rheuma-Salve® pain relief balm, will now have access to Kowa’s global export networks, facilitating the distribution of its products across ASEAN and other international markets. Additionally, Kowa will support HST Medical in modernising its product line-up to cater to a broader audience.

Ellis Tan will continue as General Manager, whilst co-founder Simone Tan will take on the role of Director and Head of Business Development. President Nikhil Kapur expressed enthusiasm about the partnership, stating, “Joining forces with the Kowa Group represents a transformative chapter for HST Medical. By aligning HST Medical’s rich heritage of trust and consumer-focused innovation with Kowa’s global infrastructure and pharmaceutical expertise, we are not only scaling our reach but also ensuring that our science-backed wellness solutions can positively impact more lives internationally.”

Founded in 1930, HST Medical has a long-standing legacy in blending traditional remedies with modern science. The acquisition marks a significant step in its journey to becoming a global health and wellness brand, promising enhanced product offerings and expanded market presence.

NSG Bio has unveiled its NSG Bio Tomorrow initiative, aimed at accelerating biotech innovation in Singapore by supporting startups focused on respiratory and neonatal care. The programme, launched with backing from Chiesi Group, offers a selected startup a year-long membership at NSG Bio and access to a dedicated laboratory bench.

The initiative addresses the biotech industry’s need for faster, more connected pathways from lab research to real-world patient impact. It provides startups not only with infrastructure but also with essential networks, industry visibility, and opportunities to engage with partners who understand the journey from discovery to clinical relevance.

Startups developing solutions in areas such as cell and gene therapies, regenerative tissue engineering, and lung-targeted delivery platforms are encouraged to apply. The chosen startup will benefit from NSG Bio’s laboratory infrastructure, shared workspaces, and a community of biotech entrepreneurs and researchers.

Hasyim Sim, Co-Founder and Chief Operating Officer of NSG Bio, emphasised the importance of building an ecosystem that offers more than just lab space. “Through NSG Bio Tomorrow, we are building initiatives that help promising startups connect with partners, unlock opportunities, and move their science forward,” he stated.

Fabrizio Conicella, Vice President at Chiesi Group, highlighted the group’s commitment to supporting impactful innovation. “By supporting this NSG Bio Tomorrow initiative, we want to create an opportunity for early-stage innovators to access the infrastructure and ecosystem support needed to develop impactful science in respiratory and neonatal care,” he said.

Applications for the programme open on 22 July 2026, with finalists invited to a virtual pitch event. This initiative reinforces Singapore’s position as a burgeoning hub for biotech innovation in Asia.

DKSH Consumer Goods has announced the extension of its strategic partnership with Universal Robina Corporation (URC) to enhance the market presence of Jack ’n Jill Potato Chips and Roller Coaster chips across Singapore. This collaboration aims to bring these beloved snack brands to a wider audience through comprehensive market expansion services.

Building on a successful partnership spanning several years, DKSH will continue to provide sales, distribution, merchandising, and field activation services for URC. This includes expanding the reach of Jack ’n Jill Potato Chips and Roller Coaster chips across modern trade, general trade, convenience stores, and e-commerce channels. Additionally, DKSH will support the introduction of C2 ready-to-drink tea beverages in Singapore, further diversifying URC’s product offerings.

Roger Banta, General Manager at URC, expressed confidence in DKSH’s ability to drive growth for their snack portfolio, stating, “This partnership extension reflects the strong results we have achieved together and our confidence in DKSH’s ability to continue driving growth for our Jack ’n Jill snack portfolio.”

Pascal Bardouil, Vice President of Consumer Goods at DKSH, highlighted the shared commitment to delivering quality products, saying, “We look forward to further accelerating their growth and availability across Singapore through our proven market expansion capabilities.”

The partnership underscores both companies’ confidence in the growth potential of the snacks segment and their ambition to meet evolving consumer preferences. With DKSH’s extensive distribution network and local market expertise, the collaboration is set to strengthen the market presence of these iconic snack brands, ensuring consumers can enjoy their favourite snacks wherever they shop.

Great Eastern is set to enhance its efforts in promoting family resilience by offering additional complimentary Lasting Power of Attorney (LPA) certifications at its first Retirement and Legacy Planning Fair. The event will be held from 28 July to 2 August 2026 at Suntec City, addressing the significant gap where 6 in 7 Singaporeans have yet to secure an LPA.

The initiative is part of Great Eastern’s ongoing Great Legacy Programme, which has facilitated over 7,000 LPA certifications since 2024 through 100 free clinics. Notably, 40% of participants were under 50, highlighting a growing awareness of the importance of legacy planning across all life stages.

An LPA allows individuals to appoint trusted persons to make decisions on their behalf should they lose mental capacity. This is crucial for managing insurance claims and other significant decisions. Kwek-Perroy Li Choo, Managing Director of Great Eastern, emphasised the importance of planning ahead, stating, “We want to help Singaporeans plan across different life phases, even through unexpected circumstances.”

The fair will also provide resources on retirement planning, active ageing, and caregiving support. Public Guardian Mdm Rayahu Buang from the Ministry of Social and Family Development praised the initiative, noting the importance of legacy planning in a rapidly ageing society.

The Retirement and Legacy Planning Fair will offer interactive activities and expert resources, with limited slots for complimentary LPA certifications available for registration online by 24 July 2026.

Singapore has emerged as a leading global platform for corporate venturing, according to a joint publication by Arthur D. Little and the Singapore Economic Development Board. The report, titled “Singapore As A Global Platform For Corporate Venturing”, highlights Singapore’s ascent from 16th in 2020 to 4th in 2025 in the global startup ecosystem rankings. This rise is attributed to the country’s focus on advanced manufacturing, semiconductors, AI and the digital economy, and healthcare and biomedical sciences.

Daniel Chow, Principal at Arthur D. Little Singapore, emphasised the strategic importance of corporate venturing, stating, “Corporate venturing is no longer an organisational initiative, it is a core strategic capability for companies seeking to stay competitive in the rapidly changing innovation landscape.”

The report underscores Singapore’s role as a gateway to regional and global startups, facilitating efficient partner discovery and collaboration. The country’s semiconductor ecosystem, supported by global fabrication anchors and research institutes, enables rapid innovation and reduces commercialisation risks. Additionally, Singapore’s AI ecosystem benefits from a concentration of technical talent and significant public investment, fostering enterprise-scale AI adoption.

Public investment under the Research, Innovation, and Enterprise 2030 framework is set to increase significantly, further strengthening Singapore’s innovation ecosystem. This strategic focus on commercialisation and startup partnerships positions Singapore as a sustainable hub for corporate venturing.

As Singapore continues to enhance its corporate venturing capabilities, it is poised to drive deeper innovation and maintain its competitive edge in the global market.

UOB has teamed up with Visa to introduce new Visa Infinite Privilege and Visa Infinite Private card tiers across ASEAN, marking a significant multi-market launch. This initiative will see more than 300,000 UOB Visa Infinite cardholders in Singapore, Malaysia, Thailand, Indonesia, and Vietnam upgraded to higher card tiers, granting them access to a broader range of premium benefits.

The collaboration positions UOB as the first Visa issuer in ASEAN to execute such a large-scale launch, setting a new standard for regional card offerings. This move comes as affluent spending in the region continues to grow, with UOB reporting a more than 10% increase in new affluent cardholders and a 25% surge in card billings in 2025.

Visa’s refreshed Visa Infinite offering, unveiled on 16 July 2026, introduces a three-tier card suite designed to meet the evolving needs of affluent consumers. The new tiers offer greater flexibility, personalisation, and differentiated benefits. Selected UOB cardholders will enjoy exclusive privileges, including access to luxury travel experiences and rare timepieces.

Pratik Bhattacharjee, Head of Group Cards and Payment Products at UOB, stated, “Our partnership with Visa marks a significant milestone, allowing us to deepen our engagement with affluent customers by curating exclusive experiences that money cannot buy.”

T.R. Ramachandran, Head of Products & Solutions for Asia Pacific at Visa, added, “The refreshed Visa Infinite portfolio is designed to meet the changing expectations of affluent consumers, offering more personalised, seamless, and relevant experiences.”

This partnership aligns with UOB’s strategy to integrate banking, wealth, and lifestyle services, reinforcing its ambition to be the Bank of Choice for customers across ASEAN.