Industry News

Singapore office Real Estate Investment Trusts (REITs) have demonstrated robust performance in the third quarter of 2025, according to Morningstar’s latest report. Despite a challenging macroeconomic environment influenced by US trade policies, these REITs have benefited from resilient occupancy rates and strong rental reversions in the first half of the year. This performance has eased some concerns over soft leasing demand.

The report highlights that Singapore REITs are currently trading at a 17% discount to book value, with office REITs experiencing the steepest discounts. Xavier Lee, an equity analyst, noted that whilst the risk of significant asset devaluation remains low, investors should consider the current trading discounts as an opportunity.

In addition to office REITs, trends in the retail and industrial sectors were also examined, with top picks identified for potential investors. The ongoing trade negotiations between the US and its partners continue to contribute to market uncertainty, but the resilience shown by Singapore’s office REITs offers a positive outlook.

GrabMaps, a hyperlocal mapping service from Southeast Asia, has announced its first countrywide mapping partnership outside the region with Mongolia’s Tino Super App. This collaboration aims to develop a comprehensive digital map of Mongolia, supporting the country’s digital ecosystem and enabling services such as ride-hailing, delivery, tourism, and e-commerce.

The partnership will initially focus on mapping Ulaanbaatar, Mongolia’s capital, before expanding to other cities. Vehicles equipped with GrabMaps’ proprietary hardware, KartaCam 2 and KartaDashCam, will gather detailed mapping data, including road networks, street names, and traffic signals. This data will be processed to create a frequently updated and data-rich map of Mongolia.

GrabMaps will provide Tino with mapping software and on-demand map services APIs, enhancing geolocation capabilities and navigation accuracy. These tools will support Tino’s taxi and delivery services, set to launch later this year.

Sriram Iyer, Head of Product, Geo and Fulfilment at Grab, highlighted the importance of advanced maps for superapps, stating, “GrabMaps technology has been instrumental for Grab’s own ability to adjust its marketplace to fast-changing conditions.” Erdenebayar Sainjargal, CEO of Teso Investment, expressed enthusiasm for the partnership, noting that GrabMaps’ technology will improve the reliability of Tino’s services.

This initiative marks a significant step for both companies, with GrabMaps extending its reach beyond Southeast Asia and Tino poised to become Mongolia’s first superapp, contributing to the country’s expanding digital economy.

Cisco has announced the general availability of the Splunk Observability Cloud on Amazon Web Services (AWS) in Singapore, a move designed to provide organisations with real-time, unified visibility across IT environments. This launch comes as Singapore prepares to implement its Digital Infrastructure Act, addressing the increasing operational demands faced by businesses in the Asia Pacific region.

The Splunk Observability Cloud offers enterprises the ability to reduce operational strain by transforming complex data into actionable insights through unified metrics, traces, and logs. This service aims to safeguard resilience by enabling faster issue resolution and maintaining high availability and compliance of critical systems. Additionally, it supports innovation by leveraging AWS’s local infrastructure to manage costs and optimise data use.

Robert Pizzari, Group Vice President of Asia at Splunk, highlighted the importance of the service, stating, “In fast-moving markets like Asia, the ability to proactively monitor systems and resolve issues quickly is key to sustaining both innovation and customer trust.”

The launch is timely, aligning with Singapore’s Smart Nation initiatives and the upcoming Digital Infrastructure Act, which emphasises the need for robust digital infrastructure. By hosting the service in the AWS Singapore Region, organisations can meet regulatory priorities and ensure data retention within the country, crucial for industries such as banking, transportation, and telecommunications.

As Singaporean teams continue to lead in digital innovation, the Splunk Observability Cloud is set to play a pivotal role in managing operational pressures, reducing burnout, and driving strategic business initiatives.

DKSH Business Unit Consumer Goods has announced a partnership with Oriental Kopi to bring the brand’s renowned Nanyang coffee and spreads to Singapore. This collaboration aims to leverage DKSH’s market expansion capabilities to enhance Oriental Kopi’s presence in Singapore’s competitive fast-moving consumer goods sector.

Originating from Malaysia, Oriental Kopi is celebrated for its blend of traditional brewing techniques and modern innovation, offering the distinctive taste of Nanyang coffee. The partnership will see Oriental Kopi’s popular coffee sachets and kaya spreads become more accessible to Singaporean consumers, thanks to DKSH’s robust distribution network and marketing expertise.

Calvin Chan Jian Chern, founder and owner of Oriental Kopi, expressed enthusiasm about the partnership, stating, “Our partnership with DKSH Singapore marks an exciting chapter for Oriental Kopi as we continue our journey to share authentic Nanyang coffee and spreads with more people. With DKSH’s strong expertise and network, we are confident this collaboration will allow us to reach more households and preserve the rich kopi heritage.”

Adrian Kang, Vice President of Fast Moving Consumer Goods at DKSH Singapore, added, “We are proud to partner with Oriental Kopi to bring their unique and much-loved flavours to Singapore. At DKSH, our mission is to support brands in unlocking growth opportunities whilst connecting consumers with quality products that celebrate tradition and culture.”

The Orchard Road Business Association (ORBA) has announced a new initiative to provide free counselling services to the 60,000 workers in the Orchard Road precinct. This one-year pilot programme, Counselling @ Work Great, is a response to the increasing demand for mental health support, particularly concerning issues like vaping. The counselling sessions will be conducted by in-training psychotherapists and can be accessed online or at designated locations such as *SCAPE at Orchard Link and Soundproof Meetings Pods at Mandarin Gallery.

Mark Shaw, Chairman of ORBA, emphasised the importance of addressing mental health openly: “At ORBA we see the importance of encouraging conversations about mental health. No one should feel ashamed if they are struggling, and it is important to know when and how to reach out for help.”

The initiative is part of ORBA’s SG60 effort to give back to the community, aiming to combat the stigma surrounding mental health services. It is available to individuals of all ages, addressing issues from burnout to family challenges. This programme is an extension of ORBA’s Work Great on A Great Street campaign, launched in collaboration with the Health Promotion Board in 2017.

Ethen Ong, Deputy Executive Director at *SCAPE, highlighted the initiative’s role in empowering youth: “With initiatives like Counselling @ Work Great, we hope to break down barriers around mental health and encourage more young people to reach out for support when they need it.”

The programme reflects ORBA’s commitment to fostering a supportive community, ensuring that mental health resources are accessible to those who need them.

In a strategic move to nurture future leaders in the maritime sector, “K” Line Pte Ltd (KLPL) and the Singapore Maritime Foundation (SMF) have signed a three-year Memorandum of Understanding (MOU). This collaboration will see KLPL sponsor two MaritimeONE scholarships annually from 2025 to 2027 and continue its support for the MaritimeONE Internship Programme.

The MOU underscores KLPL’s long-standing commitment to the maritime industry’s talent pipeline, a dedication that began in 2007. The scholarships and internships will be administered and promoted by SMF, with both organisations jointly selecting candidates. This initiative is part of SMF’s broader strategy to build a future-ready workforce for Maritime Singapore, following recent partnerships with entities like Jurong Port and the Singapore Shipping Association.

Tsurukawa Takahiko, President and CEO of “K” Line Pte Ltd, expressed the company’s dedication to empowering students in the maritime field, stating, “Since 2007, KLPL has provided scholarship sponsorship to 22 students to date, empowering students to pursue educational and professional aspirations within the maritime industry.”

Tan Beng Tee, Executive Director of the Singapore Maritime Foundation, highlighted the fruitful partnership with KLPL, noting, “We highly appreciate this long and fruitful partnership, and look forward to doing more together as part of this MOU and beyond.”

This collaboration not only strengthens the maritime talent pool but also reinforces Singapore’s position as a leading International Maritime Centre. As the partnership unfolds, it is expected to significantly contribute to the sector’s long-term advancement and success.

YY Group Holding Limited, a global workforce solutions provider, has announced a partnership with Singapore-based Obita to integrate stablecoin payment infrastructure into its operations. This collaboration aims to streamline cross-border payments and enhance financial inclusion for gig workers worldwide.

The partnership will see YY Group incorporate Obita’s enterprise-grade stablecoin infrastructure into its global platforms, facilitating efficient and compliant financial transactions. Obita’s technology is designed to simplify cross-border settlements whilst maintaining high compliance and security standards. This integration is expected to improve YY Group’s cross-border capital flows and offer faster, lower-cost payouts for platform users, including international students and gig workers.

Mike Fu, CEO of YY Group, highlighted the significance of the partnership, stating, “Partnering with Obita enables us to optimise enterprise costs whilst delivering faster, more transparent, lower-cost settlement options to the hundreds of thousands of workers and clients we support worldwide.”

Zhang Dayong, CEO of Obita, added, “YY Group represents exactly the type of large-scale, real-world ecosystem where compliant stablecoin infrastructure can deliver immediate impact.”

The collaboration was announced at the PayFi Summit, where both companies discussed the potential of stablecoin infrastructure to transform cross-border worker payments. The initiative is part of YY Group’s strategy to expand its presence in Southeast Asia, the Middle East, and other growth markets.

As YY Group continues to scale, the integration with Obita’s technology is expected to strengthen its margins and accelerate global expansion efforts.

The 2025 Global Payments Report by McKinsey reveals significant shifts in the Asia-Pacific (APAC) payments landscape, driven by credit card usage, cross-border payments, and domestic transaction fees. The report outlines how these factors are redefining the region’s financial dynamics amidst a global payments industry valued at $2.5t.

The report highlights a unique trend in APAC, where credit card usage growth is muted compared to global patterns. Whilst corporate card usage saw a modest 3% increase, overall credit card usage remains at 18% in the region, contrasting sharply with the US, where it stands at 51%. This indicates a shift towards alternative payment methods in APAC, as cash usage continues to decline globally.

Cross-border payments present both challenges and opportunities, with the report noting a divergence into regional ecosystems. APAC is witnessing an upward trend in cross-border transactions, facilitated by the development of instant payment infrastructures and interoperability among domestic systems. This fragmentation requires companies to adapt to a future without a single, unified payment system.

Domestic transaction fees in APAC are also evolving, with consumer-side revenues growing whilst commercial revenues decline. The increasing digitalisation of transactions and the availability of new investment options for managing treasury funds are key factors influencing these changes.

As the payments industry remains a crucial part of financial services, generating significant revenue, McKinsey’s report underscores the importance of adaptability and innovation for success in this rapidly changing environment. The insights provided are essential for stakeholders aiming to navigate the complexities of the APAC payments landscape.

Singaporeans are among the most cyber-aware globally, yet they face significant phishing risks, according to Yubico’s Global State of Authentication Survey 2025. Conducted with 18,000 employed adults across nine countries, including 2,000 respondents from Singapore, the survey reveals that whilst 89% of Singaporean workers express concern about artificial intelligence’s impact on account security, phishing exposure remains a persistent issue.

The survey highlights that 78% of Singaporeans now use multi-factor authentication (MFA) for personal accounts, marking one of the highest adoption rates in the Asia-Pacific region. However, 44% of respondents reported interacting with phishing messages in the past year, a figure unchanged from 2024 and double the rate observed in Japan. This paradox underscores the ongoing challenges in cybersecurity despite increased awareness and protective measures.

Social media breaches in Singapore have decreased significantly, falling to 26% from 49% in 2024. This reduction indicates progress in certain areas of cybersecurity, yet phishing remains a formidable challenge. The survey’s findings suggest that whilst Singaporeans are adopting advanced security measures, the threat landscape continues to evolve, necessitating ongoing vigilance and education.

As cybersecurity threats become more sophisticated, the survey underscores the importance of continuous education and adaptation to new technologies to mitigate risks effectively. The findings serve as a reminder that awareness alone is insufficient to combat the ever-evolving tactics of cybercriminals.

Cleanverse International has officially launched in Singapore, unveiling a pioneering compliance-native trust layer for on-chain finance. The launch, which took place on 30 September 2025, has garnered support from key industry players such as dtcpay, FOMO Group, DigiFT, and KUN, marking a significant step in embedding trust and compliance into blockchain transactions.

Cleanverse aims to address the challenges of blockchain’s anonymity by integrating verified identity with regulated assets, ensuring real-time compliance with the Travel Rule. This initiative is designed to provide the same level of security and trust found in traditional financial systems like SWIFT, but within the blockchain environment. Charles Huang, Founder of Cleanverse International, stated, “Cleanverse builds on Web2’s proven compliance logic and uses blockchain to create a more efficient compliance network on Web3.”

The platform introduces several innovations, including APASS, a non-transferable identity credential, and A-tokens, which mirror regulated stablecoins for traceable transactions. This multi-layer compliance architecture is expected to facilitate the adoption of blockchain by financial institutions, offering a secure and standardised framework for on-chain finance.

The launch event featured panel discussions on the importance of compliance in accelerating institutional adoption and the role of AI in finance. Cleanverse is now inviting more industry players to join its consortium, aiming to establish global standards for on-chain finance and governance. CEO Ceridwen Choo emphasised, “Compliance is not a hurdle; it is the gateway to participation in on-chain finance.”

With the backing of its founding members, Cleanverse is poised to transform the landscape of digital finance, bridging the gap between traditional and decentralised financial systems.