Industry News

AIA Singapore has announced that it has surpassed S$40b in payouts over the last decade, coinciding with its 95th anniversary. The insurer has distributed funds across various claims, including death, critical illness, accident, hospitalisation, and maturity proceeds for retirement and savings. This milestone underscores AIA Singapore’s commitment to supporting the financial well-being of Singaporeans.

The company has been a steadfast presence in Singapore, providing a crucial safety net for families. “For nearly a century, AIA Singapore has been part of the Singapore story, walking alongside generations of families, consistently delivering on our promise to protect their financial security,” the company stated.

As part of its anniversary celebrations, AIA Singapore is launching new initiatives aimed at enhancing its role as a wealth partner. These initiatives are designed to deepen engagement with clients and contribute to the nation’s progress by supporting healthcare and long-term financial goals.

The significant payouts and new initiatives highlight AIA Singapore’s dedication to fulfilling its promises and reinforcing its position as a vital partner in the financial and healthcare sectors. As the company continues to evolve, it remains committed to contributing meaningfully to the lives of Singaporeans, ensuring financial security and peace of mind for future generations.

Ascentium, a Singapore-based global business services platform, has acquired Clara, the largest licensed corporate service provider in the Abu Dhabi Global Market (ADGM). This strategic acquisition significantly bolsters Ascentium’s presence in the Middle East, leveraging Clara’s established operations in both ADGM and the Dubai International Financial Centre (DIFC).

Clara is renowned for its regulatory expertise and robust service delivery, supporting a diverse clientele that includes startups, SMEs, law firms, and government-related entities. The acquisition aligns with Ascentium’s strategy to expand into key jurisdictions by partnering with regulated, values-aligned businesses. Clara will now benefit from Ascentium’s global platform, enhanced service capabilities, and investment capacity, enabling its clients to scale internationally whilst maintaining high regulatory standards.

Lennard Yong, CEO of Ascentium, stated, “ADGM is an important addition to Ascentium’s global platform, and Clara is the market leader. Their regulatory standing, trusted client relationships, and leading technological operating system make them an ideal addition to Ascentium as we continue to expand across the Middle East.”

Kathryn Burke, Managing Director of Clara, expressed enthusiasm about the partnership, noting, “Ascentium has built a platform where people lead and technology enables. By joining Ascentium and aligning with this shared value, we can combine human insight with the power of innovation to help clients navigate increasingly complex, cross-border regulatory environments with confidence.”

This acquisition not only strengthens Ascentium’s foothold in the Middle East but also enhances its ability to offer integrated solutions in corporate services, finance, and accounting, among others, to over 60,000 client entities globally.

Aspire, a leading finance platform for modern businesses, has announced a strategic partnership with Antler to enhance the financial infrastructure for early-stage founders. This collaboration comes as Aspire experiences a 46% year-on-year growth from startups, with plans to increase its startup customer base by 2.3 times in 2026. Andrea Baronchelli, CEO and co-founder of Aspire, highlighted the importance of integrated financial tools, stating, “Partnering with Antler lets us reach founders at the exact moment they’re making critical infrastructure decisions.”

The partnership will connect Aspire with founders at the inception stage, providing immediate access to integrated financial infrastructure as companies begin operations. Hiro Kiga, Partner at Antler Southeast Asia and Japan, emphasised the need for integrated systems to support cross-border operations, saying, “This partnership strengthens the support system around how founders work today.”

Aspire’s momentum is further evidenced by the increased commercial activity among its startup base. AI startups now represent approximately 30% of new additions, and startup customers are processing 50% more in annual payments than two years ago. Additionally, new startup customers are executing 30% more foreign exchange transactions in their first 30 days compared to previous cohorts.

Aspire, headquartered in Singapore, offers a borderless Financial Operating System that combines banking, payments, accounting, and financial operations into a single solution. The company continues to expand across Asia-Pacific, Europe, and the United States, supported by new regulatory licences and strategic partnerships. Asad Kalimi, VP and Global Head of Partnerships and Sales, noted, “Higher payment volumes, increased FX activity and the rise of AI-led startups all point to a more commercially active startup base.”

Private equity (PE) activity in Southeast Asia (SEA) experienced a significant downturn in 2025, with deal values plummeting by 43% to $9.1b across 59 deals, according to the EY Southeast Asia Private Equity Pulse 2025 report. This decline reflects a more cautious investment climate compared to 2024, which saw $16b across 67 deals. Despite this, the market began to regain momentum in the latter half of the year.

The report highlights that digital infrastructure dominated PE investments, accounting for 42% of the total, followed by telecommunications and real estate. Luke Pais, EY-Parthenon Asean Private Equity Leader, noted, “Whilst 2025 started with robust activity in Q1, geopolitical volatility and concerns over potential US tariffs led to more cautious investor sentiments seen in Q2. However, PE investment activity in SEA rebounded in Q3.”

Singapore maintained its status as a regional anchor, contributing over 74% of the total PE deal value. The region also saw an improvement in exit momentum, with 33 deals generating $4.4b, an 18% increase in volume year-on-year. Fundraising efforts in SEA also showed promise, with 10 PE fund closures raising $4.6b, a 97% increase from the previous year.

Looking ahead, the report suggests that digital infrastructure and renewable energy will continue to attract significant investments in 2026, as the market shifts towards value creation-led PE strategies. The private credit market in SEA is also poised for growth, driven by demand from mid-market corporates and financial sponsors.

The February 2026 Build-to-Order (BTO) exercise by the Housing Development Board (HDB) has attracted significant interest, with 14,052 applicants vying for 4,692 new flats as of 5pm on 11 February 2026. This represents an application rate of 3.0 times, according to Kelvin Fong, CEO of PropNex.

Tampines emerged as the most sought-after location, with its two projects, Tampines Nova and Tampines Bliss, achieving a collective application rate of 11.6 times. The proximity of Tampines Nova to the MRT station and local amenities likely contributed to its popularity, with 2-room Flexi flats there seeing an application rate of over 20 times.

In contrast, Sembawang’s projects, Sembawang Voyage and Sembawang Deck, recorded the lowest interest with an application rate of 1.1 times. The location’s distance from key amenities and transport links may have influenced this outcome. Notably, the 5-room flats in Sembawang had an application rate of just 0.7 times, indicating a shift in buyer preferences towards more centrally located options.

Redhill Peaks in Bukit Merah also saw healthy interest, with an application rate of 3.5 times for its 1,052 flats. The upcoming June 2026 BTO exercise is expected to offer around 6,900 flats across five towns, providing further opportunities for prospective homeowners.

Singaporeans are set to top Asia in travel spending in 2026, with 90% planning to maintain or increase their budgets for activities, tours, and experiences, according to Klook’s Travel Pulse 2026. The survey highlights Singapore’s strong confidence in travel spending, with an average expected budget of $2,500 (approximately S$3,190) for trips lasting seven nights or more.

Klook’s findings reveal that Singaporeans are the biggest spenders in Asia for long-leisure travel, surpassing other regional markets such as Hong Kong, Mainland China, and Indonesia. In 2025, 83% of Singaporeans travelled overseas, significantly higher than the global average of 62%. This trend is expected to continue in 2026, with nearly half of Singaporeans considering an overseas trip within the next three to six months.

Japan remains the top destination for Singaporeans, ranking 2.5 times higher than Mainland China. Whilst traditional cities like Tokyo, Kyoto, and Osaka remain popular, there is growing interest in regional cities such as Fukuoka, Nagoya, and Sapporo. Mainland China is also gaining traction, with cities like Chengdu and Guangzhou emerging as popular destinations.

Despite a focus on affordability, Singaporeans are willing to spend on experiences. Half of the respondents plan to increase spending on food, dining, and activities, with many expressing a willingness to pay extra for outdoor adventures and theme parks. As Sarah Wan, General Manager for Klook, noted, “Travel today is not about how much ground is covered, but about choosing moments that feel purposeful and leave a lasting imprint.”

The Marine Stewardship Council (MSC) has called on retailers to enhance their sustainable seafood offerings, following a YouGov survey revealing that a significant majority of consumers in Malaysia and Singapore prioritise sustainability in their seafood choices. The survey, conducted from 15 to 19 January 2026, highlighted that 85% of Malaysians and 74% of Singaporeans consider sustainable seafood important, yet many struggle to identify such products due to inadequate labelling.

As Chinese New Year approaches, seafood consumption is expected to surge, making it a crucial time for sustainable shopping. Despite this, 58% of Singaporeans have never noticed an ecolabel when purchasing seafood, and only 21% recognise the MSC blue ecolabel. This lack of awareness poses a challenge for consumers eager to make informed choices.

In Malaysia, where seafood consumption is more than double the global average, 75% of respondents believe that local fishermen need support to fish sustainably. Meanwhile, in Singapore, where most seafood is imported, 55% of consumers rely on government standards and 54% on origin information to ensure sustainability.

Anne Gabriel, Programme Director for Oceania and Singapore at MSC, stated, “It’s clear that consumers are ready and willing to seek out credible certification, so we’re urging retailers and businesses to make MSC ecolabel products visible and accessible.”

The survey also found that 52% of Singaporeans think supermarkets should commit to sourcing sustainable seafood, and 38% are willing to pay more for it, even amidst cost-of-living pressures. As festive demand peaks, clearer ecolabelling could help consumers align their values with their purchases without altering traditional meals. MSC-certified products are available at various supermarkets in Singapore and Malaysia, including Cold Storage, FairPrice Group, and AEON Retail.

The Housing Development Board’s (HDB) February 2026 Build-To-Order (BTO) sales exercise saw a decline in application rates for the second consecutive time, with 13,800 applicants vying for 4,692 flats, resulting in an overall application rate of 2.9. This marks a decrease from previous exercises, which recorded rates of 3.6 in October 2024 and 4.2 in July 2025, according to Realion (OrangeTee & ETC) Group’s Chief Researcher & Strategist, Christine Sun.

The decline in applications is attributed to prospective buyers holding off for the June sales exercise, which promises attractive sites in Bishan, Ang Mo Kio, and Bukit Merah. These areas are expected to offer more units, increasing applicants’ chances of success. Despite the overall decline, certain flat types and towns, such as Tampines, saw high demand. Notably, 2-room flats in Tampines Nova attracted over 5,500 applicants for just 1,246 units.

In contrast, the concurrent Sale of Balance Flats (SBF) exercise recorded a higher application rate of 3.6, with over 15,400 applicants for 4,320 flats. Many Singaporeans opted for SBF due to the availability of units in sought-after towns like Kallang/Whampoa and Bukit Merah, where construction has already commenced, allowing for earlier move-in dates.

The popularity of Tampines Nova is attributed to its central location and unique features, such as an integrated preschool. However, areas like Sembawang and Toa Payoh saw lower demand due to fewer amenities and market saturation, respectively. Future launches in these areas may further influence application trends.

Virginia Lim has been appointed as Mediacorp’s Chief Content and Talent Officer, effective 1 April 2026. This expanded role will see Lim continue to lead the Content Group whilst also taking charge of the Talent Hub, previously overseen by Doreen Neo, who will retire on 31 March 2026 after over 20 years with the company.

Neo’s tenure at Mediacorp has been marked by significant contributions, including her leadership roles as Chief Content Officer and Managing Director, Studios. Under her guidance, the Talent Hub has become a pivotal platform for nurturing talent across traditional, digital, and social media. It currently includes Bloomr.SG and The Celebrity Agency, representing over 150 creators and 100 talents, with a combined social media following exceeding 50 million.

Lim’s new role aims to align Mediacorp’s content and talent strategies, enhancing opportunities for Singaporean stories and talent to reach broader audiences. “Bringing content and talent closer together strengthens how we support creators and artistes,” Lim stated, emphasising the potential for increased collaboration and growth.

Mediacorp CEO Tham Loke Kheng praised Neo’s dedication, saying, “Her foresight and conviction have shaped our talent ecosystem.” Tham also highlighted the strategic importance of Lim’s expanded role in fostering regional co-productions and creative partnerships.

Neo expressed gratitude for her time at Mediacorp, stating, “I am proud of what we have built together, especially in strengthening the support for talent and creators across platforms.” As Lim steps into her new role, Mediacorp looks forward to evolving its content and talent initiatives, ensuring continued growth and innovation.

The Centre of Advanced Power and Autonomous Systems (APAS), under the Hong Kong Productivity Council (HKPC), made its inaugural appearance at the Asia Photonics Expo 2026 in Singapore from 4 to 6 February. APAS showcased its cutting-edge automotive photonics research and development (R&D) achievements, including an automotive-grade MEMS Drive OIS Actuator and an Augmented Reality Head-up Display for commercial vehicles.

APAS also organised the “Go Global to Southeast Asia” delegation, leading representatives from Hong Kong and Chinese Mainland enterprises to engage in the expo and related activities. This initiative aimed to demonstrate Hong Kong’s R&D strengths in photonics and emerging industries to the international community, facilitating cross-regional business networking and supporting enterprises in expanding into Southeast Asian and global markets.

Yonghai Du, Chief Innovation Officer of HKPC and General Manager of APAS, highlighted the importance of photonics in intelligent driving, stating, “Photonics plays an irreplaceable role in data acquisition, transmission, and processing.” APAS’s participation in the expo aims to strengthen the foundation for the long-term development of automotive photonics technologies.

During the event, APAS set up a dedicated exhibition zone to display its latest solutions supporting smart mobility and smart city development. The MEMS Drive OIS Actuator enhances image stability in dash cameras, whilst the Augmented Reality Head-up Display projects critical driving information onto the windscreen, improving driver focus and safety.

In addition to the expo, the delegation visited top universities and research institutions in Singapore, gaining insights into the latest R&D and technology commercialisation trends. These efforts underscore HKPC and APAS’s commitment to promoting international R&D exchange and exploring market opportunities in Southeast Asia.