Industry News

Redux, a Singapore-based recycling company, has announced the launch of an advanced automated solar panel recycling facility to address the anticipated surge in photovoltaic (PV) waste. This initiative comes as Singapore’s solar panel projects, part of the Clean Energy Vision launched in 2007, near maturation. The company estimates that the number of solar panels to be decommissioned annually will increase from 138,522 to 143,000 over the next two years.

The new facility is part of Redux’s Project SolaREV, which aims to efficiently manage the solar panel decommissioning process. This project underscores the importance of responsible e-waste management as the nation transitions towards a circular economy in renewable energy. “The expected increase in PV waste highlights the need for sustainable solutions,” Redux stated.

Solar panels, globally, experience an efficiency reduction of up to 80% over time, necessitating their replacement and recycling. Redux’s facility will employ advanced automation to ensure efficient recycling, reducing environmental impact and supporting Singapore’s sustainability goals.

The launch of this facility marks a significant step in managing the environmental footprint of solar energy projects in Singapore. As the nation continues to expand its renewable energy capacity, initiatives like Redux’s are crucial in ensuring that the benefits of clean energy are not offset by waste management challenges. This development also positions Redux as a leader in the stewardship of solar panel recycling, setting a benchmark for other nations to follow.

United Overseas Bank (UOB) has successfully priced EUR850m in covered bonds, set to mature in 2030, with a 2.718% annual coupon. The issuance, which was oversubscribed with an order book exceeding EUR1.2b, attracted significant interest from asset managers, banks, central banks, and official institutions. This marks the first 5-year EUR covered bond from a Singapore bank since October 2021.

The bond issuance represents the tightest 5-year non-EU EUR covered bond since September 2022, with UOB managing to reprice the Singapore curve tighter by 1 basis point. The final pricing was set at mid-swap plus 30 basis points, landing 1 basis point inside fair value. This achievement underscores UOB’s ability to secure competitive pricing in the EUR covered bond market compared to its USD Senior new issue curve.

Koh Chin Chin, Head of Group Treasury, Research and Customer Advocacy at UOB, expressed satisfaction with the market’s response, stating, “We are pleased to return to the EUR covered bond market and thank investors’ continued support in allowing us to extend the curve for Singapore at the tightest 5-year pricing for a non-EU issuer in recent years.”

The distribution of the bond saw robust demand from various regions, with Switzerland accounting for 28%, Germany 26%, the United Kingdom 19%, and the Nordic region 14%. The bonds are expected to be rated Aaa by Moody’s Investors Service and AAA by Standard & Poor’s Rating Services.

UOB’s successful issuance not only extends the pricing curve for Singapore issuers but also highlights the bank’s strategic positioning in the global bond market. The bonds are set to be listed on the Singapore Exchange, with the issue date expected on 1 December 2025.

A recent report by Rubrik Zero Labs highlights that 84% of Singapore leaders identify identity-based attacks as the most significant threat to their organisations. As AI agents proliferate in the workplace, the focus on identity resilience has intensified, with 90% of organisations planning to hire professionals to bolster defences against these attacks in the coming year.

The report, titled “Identity Crisis: Understanding & Building Resilience Against Identity-Driven Threats,” underscores the urgency for organisations to adapt to the evolving threat landscape. Ananth Nag, Vice President of APAC at Rubrik, emphasised the need for comprehensive identity resilience, stating, “Traditional security boundaries are no longer enough. Organisations must embed comprehensive Identity Resilience, using real-time intelligence to stop threats, govern AI behaviour, and recover quickly to protect business and trust.”

Key findings from the report reveal that 92% of Singapore organisations have integrated AI agents into their identity infrastructure, with 44% predicting that over half of cyberattacks next year will be driven by agentic AI. Additionally, confidence in recovery strategies is waning, with only 20% of respondents believing they could fully recover from a cyber incident within 12 hours, down from 52% in 2024.

The report also notes that 97% of organisations affected by ransomware attacks in the past year paid the ransom. This highlights the critical need for robust identity resilience strategies to ensure swift recovery and maintain operational integrity. As identity threats continue to evolve, Singapore organisations are urged to prioritise identity resilience to safeguard their most sensitive data.

CDW Holding Limited, listed on the SGX Mainboard, has announced a significant advancement in the development of an additive for anti-fouling ship hull bottom paint. This innovation is part of the company’s efforts to promote environmental sustainability and diversify its business operations. Recent tests have shown promising results, with the additive effectively preventing barnacle attachment in seawater immersion trials.

The additive, developed using CDW’s proprietary organic synthesis technology, aims to improve the performance of conventional anti-fouling paints by reducing the build-up of marine organisms such as barnacles and algae. This is crucial as biofouling increases hull friction, leading to higher fuel consumption and carbon emissions. The company conducted tests at Osaka Sakai Old Port, where plates coated with the additive showed no barnacle attachment over five months.

CDW is now seeking strategic partnerships to further develop and commercialise this additive, leveraging next-generation graphene. Chairman and CEO Kato Tomonori stated, “Our access to cutting-edge R&D through our research network enables us to develop product innovations that are both sustainable and have significant commercial potential. We believe a partnership approach is the best way to bring innovations like this new additive to market.”

The development of this additive aligns with the growing demand for environmentally friendly marine coatings, as regulations tighten and the shipping industry seeks to reduce its environmental impact. CDW’s initiative represents a step forward in creating sustainable solutions for the maritime sector.

Attika has been awarded three significant contracts totalling S$26m, marking a strategic milestone for the company. The largest of these is an interior fit-out services contract for a data centre in Singapore. Additionally, Attika has secured a clean-room contract for the automotive and industrial sector, and a 36-month term contract with the National Library Board (NLB) for library fit-out services.

These contracts align with Attika’s growth strategy to capture opportunities in high-specification projects with elevated entry barriers. Executive Chairman and Managing Director Steven Tan highlighted the importance of these sectors, stating, “Our focus on data centres and clean rooms is deliberate – these are high-growth sectors with significant barriers to entry, where technical excellence and proven track records are essential.”

The company received commendation from Fortis Construction, recognising its technical capabilities and operational excellence in complex data centre environments. Tan noted that this commendation is particularly meaningful given Fortis Construction’s reputation for demanding standards.

The new contracts are expected to bolster Attika’s diversified foundation, positioning the company for sustained growth. Tan added, “Together with our expanding partnership with the NLB, we are building a diversified foundation that positions Attika for sustained growth. We remain focused on delivering quality whilst strategically advancing our presence in sectors that will drive our long-term development.”

These developments underscore Attika’s commitment to expanding its presence in high-growth sectors, ensuring long-term development and success.

The Intercontinental Alliance for Integrated Care (IAIC), hosted by the Singapore University of Social Sciences (SUSS), has launched its inaugural multi-region study on perceptions of ageing and ageing well. Unveiled at the IAIC 2025 event, the study draws insights from Singapore, Canada, Mainland China, Hong Kong SAR, and the United Kingdom, examining how older adults navigate later-life transitions and define successful ageing.

The study, co-developed with IAIC members, highlights the importance of social connections and a sense of mastery in ageing well. In Singapore, responses from about 1,000 survey participants and 15 in-depth interviews revealed that women aged 75-84 value family and social bonds more than their male counterparts, who often face isolation post-retirement. The concept of “mastery”—the belief in one’s ability to influence life outcomes—emerged as a strong predictor of successful ageing, encouraging older adults to stay active and engaged.

Guest-of-Honour, Halimah Yacob, Chancellor of SUSS, emphasised the need for integrated care systems that support ageing populations. “Ageing is not a burden to be managed but a season of life to be respected and reimagined,” she stated.

The study’s findings are expected to inform future policies and initiatives aimed at enhancing the quality of life for older adults globally. The full report is available on the SUSS website, offering a comprehensive look at the diverse experiences and strategies of ageing populations across different regions.

OCBC has launched in-app calls for its business and retail banking customers, allowing them to contact the bank without incurring International Direct Dialling (IDD) charges. This feature, available on the OCBC and OCBC Business apps, aims to reduce fraud by minimising reliance on SMS One-Time Passwords (OTPs) and security questions, which are increasingly vulnerable to phishing and social engineering tactics.

The in-app calls, which began for corporate customers in June 2025, will be available to retail customers from November 2025. This service is particularly beneficial for customers needing urgent assistance whilst overseas, such as in cases of suspected credit card fraud. OCBC reports that over 8,000 calls are made by business and retail customers from abroad each month.

The secure environment of the apps requires customers to log in using biometrics or access credentials, coupled with digital or hard token provisioning, ensuring two-factor authentication. This approach aims to prevent impersonation scams, which have been on the rise in Singapore, with 1,762 cases reported in the first half of 2025.

From the first half of 2026, OCBC plans to use in-app calls for outbound communication with customers, further distinguishing genuine bank calls from fraudulent ones. Sunny Quek, Head of Global Consumer Financial Services at OCBC, emphasised the importance of restoring trust in phone communications, stating, “In-app calling capabilities are powerful as they help restore confidence by ensuring that calls happen in a secure, authenticated space.”

Melvyn Low, Head of Global Transaction Banking, added, “With in-app calls, we’re making it safer and easier for businesses to connect with us.” This initiative not only safeguards against fraud but also empowers customers to manage their banking needs with peace of mind.

Trust Bank Singapore has unveiled Trust Visa Instalments, a new feature allowing customers to spread payments for credit card transactions over 3, 6, 9, or 12 months without incurring any fees or interest. This service, developed in collaboration with Visa, is available for both in-store and online purchases at eligible merchants.

The initiative is part of Trust Bank’s broader suite of customer-focused lending solutions, which includes Instant Loan, Balance Transfer, and Split Purchase. Trust Visa Instalments aims to provide greater financial flexibility, enabling customers to manage their budgets more effectively. Dwaipayan Sadhu, CEO of Trust Bank, highlighted the collaboration with Visa as a significant step in offering “flexibility and simplicity at checkout.”

Customers can enjoy additional savings with an offer of S$80 off for every S$1,000 spent at selected retailers, including Courts, iStudio, and Samsung Experience Stores, until 31 December 2025. The minimum transaction amount for eligibility is S$100, and only main Trust credit cards qualify for the instalment plans.

Adeline Kim, Country Manager for Singapore and Brunei at Visa, noted the growing popularity of instalment solutions, with spending in the Asia Pacific region tripling over the past year. She emphasised that the partnership with Trust Bank expands the accessibility of seamless instalment payments to more consumers.

This new offering underscores Trust Bank’s commitment to enhancing customer experience by providing practical financial solutions that cater to diverse needs.

Zenika Singapore has announced the appointment of Seet Teck Kiang as Head of Business and the return of Michael Isvy as Head of Engineering. These strategic hires aim to expand Zenika’s regional influence and enhance its AI Multiplier Framework, a comprehensive model for delivering high-performance AI across products, architecture, and operations.

Seet Teck Kiang, a seasoned transformation leader with over 20 years of experience, joins Zenika from senior roles at ThoughtWorks, EPAM Systems, and Zühlke Group. His expertise in platform modernisation and digital transformation aligns with Zenika’s ambition to scale its AI Multiplier Framework. “What attracted me to Zenika is its ethos of engineering excellence,” Seet remarked, highlighting the framework’s potential to scale AI impact.

Michael Isvy, who helped establish Zenika Singapore, returns to lead the company’s engineering and AI strategy. With experience bridging French and Singaporean engineering cultures, Isvy aims to transform Zenika’s Singapore division into a hub for AI engineering. “My goal is to turn our Singapore division into a true experimentation hub for AI adoption,” Isvy stated.

Timothée Dufresne, Managing Director of Zenika Singapore, expressed confidence in the new appointments, noting that Seet and Michael’s strengths will drive the company’s expansion and shape its future in Asia. Founded in 2006, Zenika is a digital services boutique with over 530 experts globally, specialising in business transformation and IT modernisation.

Howden, a global insurance intermediary group, has announced the appointment of Alaric Lee as Chief Commercial Officer for Asia. Lee will be responsible for spearheading Howden Asia’s commercial strategy, collaborating closely with country CEOs and business development teams to drive new business and enhance sales performance. His role will be based in Singapore and will commence on 1 December 2025.

Lee brings a wealth of experience from his 15-year tenure at Marsh, where he most recently served as Managing Director and Corporate & Commercial Leader for Marsh Asia. During his time at Marsh, he oversaw regional strategies for the middle market and SME segments, leading teams across multiple markets.

Chye Huat, Chair of Howden Asia, expressed enthusiasm about Lee’s appointment, stating, “We are delighted to welcome Alaric to Howden. His deep regional experience, commercial acumen, and proven leadership will be instrumental in accelerating our growth ambitions and delivering value to our clients across Asia.”

Howden, founded in 1994, operates in 56 countries and employs 23,000 people, managing premiums totalling $50b. The group’s focus on employee ownership and its extensive global reach underscore its commitment to providing comprehensive insurance, reinsurance, and underwriting services to a diverse client base. Lee’s appointment is seen as a strategic move to bolster Howden’s leadership and growth trajectory in the Asian market.