Industry News

Seatrium Limited has announced a significant contribution of approximately S$1.7m to the Seatrium Professorship at the National University of Singapore College of Design and Engineering (NUS CDE). This latest funding brings the total contributions, including government matching grants, to over S$5m, reinforcing Seatrium’s commitment to advancing Singapore’s offshore, marine, and energy sectors.

The expanded partnership aims to nurture engineering talent and foster collaboration between industry and academia. Chris Ong, CEO of Seatrium, stated, “This latest contribution expands the scale and scope of our collaboration with NUS – enabling deeper engagement in offshore engineering, energy transition, and sustainability.”

Established in 2023, the Seatrium Professorship has already delivered impactful outcomes, such as public lectures and specialised courses for NUS students and Seatrium engineers. The programme has also facilitated direct collaboration between NUS CDE and Seatrium’s technical teams, enhancing the practical application of research.

The new funding will support an integrated suite of initiatives, including appointing academic and industry-linked professorships to anchor research leadership and strengthen global linkages. This aligns with Singapore’s Research, Innovation and Enterprise (RIE2030) priorities, focusing on energy transition and sustainability.

Professor Tan Eng Chye, President of NUS, expressed gratitude for Seatrium’s support, highlighting the strategic alignment with Singapore’s RIE2030 priorities. The expanded professorship will also establish a technology foresight platform to inform stakeholders on emerging technologies and market trends.

This partnership underscores Seatrium’s role in shaping a future-ready workforce and advancing Singapore’s position as a competitive hub for offshore, marine, and energy innovation.

Forvis Mazars, a global professional services network, has appointed Anthony Atkins as Partner for Consulting (Actuarial Services) in Singapore. With over 20 years of experience in insurance and actuarial fields, Atkins is set to bolster the firm’s presence in the Asia Pacific region. His appointment comes amidst rising demand for actuarial expertise, driven by the complexities of IFRS 17 and increased M&A activity.

Atkins will join the Financial Services Consulting team, complementing the existing insurance practice in Singapore, which includes Tan Yan Song, Partner in Audit and Assurance. The team operates under the leadership of Rudi Lang, APAC Financial Services Leader, offering a comprehensive suite of services including actuarial advisory, audit and assurance, and financial consulting.

Rick Chan, Managing Partner Singapore, expressed enthusiasm about Atkins’ addition, stating, “Tony’s appointment reflects our continued investment in deepening our insurance and actuarial capabilities across Asia Pacific.”

The insurance sector in Asia Pacific is experiencing significant transformation, with IFRS 17 now active in major markets like Singapore, Hong Kong, and Malaysia. Atkins’ extensive background, including leadership roles at a Big Four firm and as Asia Pacific Head of Actuarial Consulting at a global broking firm, positions him well to navigate these changes. His expertise in M&A, market entry, and actuarial due diligence will be invaluable as insurers adapt to new challenges.

Atkins remarked, “I am excited to join Forvis Mazars at such a key moment for the insurance industry across Asia Pacific. The firm’s commitment to supporting clients in financial services and its strong regional network provide an excellent base for trusted actuarial advisory.”

AIA Singapore has launched AIA Protect 3, a new critical illness plan, in celebration of its 95th anniversary. This plan is tailored to cover the three most prevalent critical illnesses in Singapore—cancer, heart attack, and stroke—and is available exclusively to AIA’s individual and corporate policyholders and their families. The initiative aims to address the significant 74% critical illness protection gap in Singapore, where these conditions account for 90% of critical illness claims.

AIA Protect 3 provides multi-stage coverage from early to major stages of illness, with protection extending up to age 85. Policyholders can benefit from a 25% cashback on premiums if no claims are made by age 65 or after 15 years, whichever comes later. The plan is designed to be affordable, with premiums starting at S$0.565 per day, and offers the option to switch to level premiums from age 70.

Irma Hadikusuma, Chief Marketing and Healthcare Officer of AIA Singapore, stated, “Critical illness can affect anyone, often when it is least expected, bringing emotional and financial strain to families.” The plan also integrates with AIA Vitality, a wellness programme that encourages healthier lifestyles and offers rewards.

AIA Protect 3’s launch comes as Singaporeans, particularly those aged 30 and above, increasingly prioritise critical illness protection amidst rising healthcare costs. The plan aims to complement existing corporate insurance coverage, providing a practical solution for individuals to strengthen their protection against high-risk conditions.

Manulife Singapore has announced a partnership with Guardant Health to provide the ShieldTM multi-cancer detection test to its customers, marking a significant step in cancer prevention. This collaboration makes Manulife the first insurer in Singapore to offer this award-winning test, which screens for 10 common cancers with a single blood draw.

The ShieldTM test, which recently won the Oncology Product Innovation of the Year at the Healthcare Asia Medtech Awards, is part of Manulife’s strategy to promote longevity and holistic well-being. Benoit Meslet, President and CEO of Manulife Singapore, emphasised the importance of early health visibility, stating, “Our role is to help customers take charge of their health and finances with confidence.”

Cancer remains the leading cause of death in Singapore, accounting for 26.5% of all deaths in 2024. The introduction of the ShieldTM test aligns with the country’s shift towards preventive and personalised care. Simranjit Singh, CEO of Guardant Health AMEA, highlighted the test’s potential to reduce barriers to cancer screening, saying, “ShieldTM MCD has the potential to address the growing burden of cancer in Singapore.”

The partnership builds on an existing relationship between the two companies, which already offers the Guardant360® Liquid test for advanced solid tumours. This initiative is part of Manulife’s broader commitment to longevity, supported by the Manulife Longevity Institute, which aims to help people live longer, healthier lives.

Business leaders in Singapore and Hong Kong are more optimistic about the impact of artificial intelligence (AI) than their global counterparts, according to a new survey by QBE Insurance. The survey, which involved over 6,000 participants from 15 markets, found that 96% of Hong Kong and 97% of Singapore business leaders expect AI to positively impact their operations over the next two years.

In Hong Kong, 56% of businesses are using AI to boost operational awareness, whilst 43% focus on agility and 26% on revenue growth. Meanwhile, Singaporean companies are prioritising productivity, with 54% of respondents citing it as a key focus, alongside innovation and competitive advantage, both at 40%.

Despite the optimism, the survey highlighted significant cyber risks. Nearly half of businesses in both cities have experienced cyber-attacks linked to suppliers, surpassing the global average of 38%. Concerns about supplier-related cyber risks are high, with 64% of Hong Kong and 78% of Singapore business leaders expressing worry.

Sam Russell-Vick, Regional Cyber Lead at QBE Asia, emphasised the importance of addressing supplier vulnerabilities, stating, “Companies can no longer be solely concerned with their own cyber defences. They must now consider the cyber vulnerabilities of their suppliers.”

The survey also revealed gaps in cyber insurance coverage, with 22% of Hong Kong and 18% of Singapore businesses lacking insurance. This is particularly pronounced in sectors like construction and manufacturing, where significant portions remain uninsured. The findings underscore the need for businesses to bolster their cyber defences and insurance coverage to mitigate potential risks.

The Tour de France EFGH Singapore Criterium is set to return on 7 and 8 November 2026, with Embed Financial Group Holdings (EFGH) confirmed as the title sponsor for the next three editions. This partnership underscores EFGH’s commitment to enhancing Singapore’s sporting ecosystem and supporting major international events in the city.

The criterium, supported by the Amaury Sport Organisation (ASO) and the Singapore Tourism Board (STB), remains the only Tour de France-affiliated event in Southeast Asia. It offers cycling fans in the region a unique opportunity to witness elite international cycling and world-class riders. The 2026 edition will feature sprint stars Jasper Philipsen and Biniam Girmay, promising an exciting showdown.

Dennis Ng, Executive Chairman of EFGH, stated, “For EFGH, supporting globally recognised events in Singapore reflects our confidence in the nation’s role as a gateway city for business, sport and innovation.”

The event will take place on a city-centre circuit, weaving through iconic landmarks such as the Padang and Anderson Bridge. A festival village at the Singapore Recreation Club will serve as the hub for spectators, offering food, beverages, and fan-focused activities.

Christian Prudhomme, Director of the Tour de France, remarked on the event’s significance in bringing the Tour’s spirit to Southeast Asia, highlighting Singapore’s role as a credible host for world-class cycling.

The 2026 programme will include the Tour de France Singapore Criterium Pro Race and the Tour de France Singapore Criterium: À l’Attaque, with expanded categories and a new Team Time Trial. More details will be announced closer to the event.

Singapore retail investors are increasingly turning to gold, according to eToro’s latest Retail Investor Beat survey. The survey, conducted in Q1 2026, highlights a shift in investment strategies as confidence in AI and tech stocks declines. Half of the surveyed investors now hold gold, up from 45% in the previous quarter, reflecting a growing preference for defensive assets amidst moderating expectations for AI stocks.

The survey, which included 1,000 Singapore-based retail investors, shows that gold now constitutes 17% of commodity portfolios, with 79% of these investors holding gold. Nearly one in four expect gold prices to rise by over 10% in the next six months, driven by its perceived role as a long-term store of value and protection against inflation. The weakening US dollar has also spurred interest, with 40% of investors adjusting their portfolios to include more gold.

Zavier Wong, Market Analyst at eToro, noted, “Lower rates reduce the incentive to hold yield-bearing assets, which historically shifts attention towards gold.” He added that the recent Middle East conflict and subsequent energy shock have reinforced gold’s appeal as a resilient asset.

Conversely, enthusiasm for AI and tech stocks is diminishing. Confidence in AI stocks delivering gains has dropped from 64% in Q3 2025 to 49% in Q1 2026. Similarly, optimism for the Magnificent 7 tech stocks has decreased to 41%. Wong remarked that the macroeconomic environment, including postponed rate cuts, has contributed to this shift in sentiment.

As the second quarter unfolds, investors will closely watch whether AI stocks can sustain their appeal without the support of favourable economic conditions.

The National University Heart Centre, Singapore (NUHCS) has become the first tertiary centre in Singapore to implement Photon-Counting Computed Tomography (PCCT) technology for a high workload of complex cardiac cases, aiming to enhance cardiac care for high-risk patients. This innovative imaging method is set to transform diagnostics for complex cardiac cases, particularly benefiting older adults and individuals with renal conditions.

As Singapore faces an ageing population, with projections indicating nearly one in four citizens will be 65 or older by 2030, the demand for safer cardiac diagnostics is increasing. Cardiovascular disease already accounts for nearly one in three deaths in the country. The introduction of PCCT at NUHCS and the National University Hospital (NUH) addresses this need by offering a less invasive alternative to traditional coronary angiograms.

Associate Professor James Yip, Executive Director and Senior Consultant at NUHCS, highlighted the significance of this advancement: “With Singapore’s ageing population, we are seeing more patients with complex cardiac conditions who may not tolerate invasive coronary angiogram well.” The PCCT technology allows for detailed imaging of coronary arteries in a single scan, reducing the need for invasive procedures and minimising the use of contrast media, crucial for patients with kidney issues.

A 90-year-old patient with severe aortic stenosis was the first to benefit from this technology, undergoing a Transcatheter Aortic Valve Implantation (TAVI) without the need for an invasive angiogram. The procedure was successful, with the patient discharged after two days and showing stable kidney function.

This development marks a significant step towards more patient-centred cardiac care, reducing procedural risks and improving diagnostic accuracy. As Singapore’s healthcare system evolves to meet the needs of an ageing society, such innovations promise a safer and more efficient care experience for a broader range of patients.

Singapore’s non-oil domestic exports (NODX) experienced a significant increase in April, rising by 24.5% compared to the same period last year, according to UOB Global Economics and Markets Research. This marks the fourth consecutive month of growth, with a month-on-month seasonally adjusted increase of 11.0%, surpassing both Bloomberg’s median estimate of 10.9% and UOB’s own forecast of 11.7%.

The electronics sector led the charge with a 16.1% month-on-month increase, bolstered by demand for personal computers, telecommunications equipment, and integrated circuits. This growth is attributed to the ongoing demand for AI-related technologies and their integration into consumer electronics. The Electronics Purchasing Managers’ Index (PMI) also rose slightly to 51.7, indicating positive future prospects.

Pharmaceutical exports saw an even more dramatic rise, with a 90.2% month-on-month increase. This surge is partly due to front-loading in anticipation of the US’s impending tariffs on selected pharmaceuticals, set to take effect later this year. Meanwhile, petrochemical exports showed resilience despite a modest decline of 6.9% following a strong performance in March.

UOB’s report suggests that the K-shaped growth pattern in NODX is likely to continue, with electronics and semiconductors maintaining strong performance. However, non-electronics exports may face challenges due to supply shortages and rising energy prices. Despite signs of a potential peak in the electronics cycle, UOB believes it is premature to declare one, given the continued strength in semiconductor exports from key markets like South Korea.

Qingjian Realty, Forsea Holdings, CYZ Land, and Jianan Capital have successfully sold 201 out of 327 units at Hudson Place Residences during its launch weekend. The 99-year leasehold development, located at Media Circle, saw units transacted at an average price of S$2,458 per square foot.

The development, which features two residential towers of 23 and 15 storeys, offers a mix of 2-bedroom to 4-bedroom layouts, as well as a limited collection of five penthouses. The strong demand was evident across all unit types, with the three-bedroom deluxe and four-bedroom premium units experiencing the highest take-up rates. Notably, 100% of the three-bedroom deluxe and over 88% of the four-bedroom premium units were sold.

The developers attribute the success to the development’s competitive pricing, thoughtful design, and strategic location within the emerging Media Circle precinct. “Hudson Place Residences was designed for buyers who value thoughtful layouts, quality finishings, and homes that carry a distinct sense of style,” said Du Dexiang, Managing Director of Qingjian Realty.

Wang Xin, Director at Forsea Holdings, highlighted the area’s transformation, stating, “Media Circle is steadily maturing into a more complete neighbourhood, and we are honoured to be playing a strong hand in this transformation.”

The development is expected to achieve vacant possession by Q3 2029, and the sales gallery is open daily for potential buyers. Hudson Place Residences is part of a broader effort to develop the Media Circle neighbourhood, following the launch of Bloomsbury Residences in April 2025.