Industry News

Metro Holdings Limited has announced the establishment of Grand Brands Asia Pte Ltd, a new brand management company aimed at introducing international retail brands to Singapore. This venture is a collaboration with EUT Solutions Pte Ltd, a wholesaler and retailer of international fashion brands.

Grand Brands Asia, a subsidiary of Metro Lifestyle Pte Ltd, will focus on curating a diverse portfolio of contemporary international retail brands. The company aims to introduce new brand concepts to the Singaporean market, enhancing consumer choice and exposure to global offerings. Yip Hoong Mun, Group CEO and Executive Director of Metro Holdings, stated, “Consumers today are increasingly looking for variety, quality and brands that reflect their lifestyles.”

Metro Holdings, listed on the Main Board of the SGX-ST since 1973, has evolved from a textile store in 1957 into a diversified property and retail group. The company operates in key markets including Singapore, China, Indonesia, the UK, and Australia. Its property division manages prime retail and office properties in major Chinese cities and other high-growth areas, whilst its retail division operates flagship Metro department stores in Singapore.

The launch of Grand Brands Asia marks a strategic move for Metro Holdings to expand its retail footprint and offer Singaporean consumers a wider array of international brands. This initiative is expected to enhance the retail landscape in Singapore, providing more options for consumers seeking global brand experiences.

The Ministry of Trade and Industry (MTI) has announced that Singapore’s economy grew by 6.9% year-on-year in the fourth quarter of 2025. This robust performance has led to an upgrade in the GDP growth forecast for 2026, now projected to be between 2.0% and 4.0%, up from the previous estimate of 1.0% to 3.0%.

The growth in Q4 2025 was driven by strong performances in the manufacturing, wholesale trade, and finance and insurance sectors. Notably, the electronics cluster within manufacturing saw significant growth due to high demand for AI-related electronics. The finance and insurance sector also experienced broad-based growth amidst favourable financial conditions.

Looking ahead to 2026, the global economic environment is expected to remain supportive, with expansionary fiscal policies in major economies like the US, Germany, and Japan. The AI investment boom is anticipated to continue, bolstering demand for semiconductor chips and benefiting Singapore’s electronics and precision engineering sectors.

However, challenges remain, including potential impacts from US tariffs and rising trade barriers. Despite these, the MTI remains optimistic about Singapore’s economic prospects, citing strong order books in aerospace and marine engineering, as well as steady growth in the construction sector.

The upgraded forecast reflects confidence in sustained economic momentum, driven by both global and domestic factors. As Singapore navigates these dynamics, the focus will remain on leveraging growth opportunities whilst mitigating potential risks.

AsiaPhos Limited has entered into a strategic partnership with China Mobile International to explore opportunities in artificial intelligence (AI) computing services and data centres across Southeast Asia. The collaboration, formalised through a Letter of Intent signed on 9 February 2026, seeks to leverage the strengths of both companies in Indonesia, Malaysia, and Singapore.

The partnership is designed to identify synergies between AsiaPhos and China Mobile International, one of the world’s largest telecommunications companies, to create joint or allied efforts in the region. Under the agreement, China Mobile will introduce potential customers to AsiaPhos for projects related to data centres and AI computing services. In return, AsiaPhos will prioritise China Mobile for data centre fit-out works and related services if these introductions lead to new business.

AsiaPhos CEO Ong Eng Keong expressed optimism about the partnership, stating, “AsiaPhos is honoured to have the opportunity to work with China Mobile International to explore opportunities in the data centres and artificial intelligence computing services in Southeast Asia.” He noted the exponential growth in Artificial Intelligence Data Centres globally, citing a report by S&P Global that highlighted a record US$61b investment in data centres worldwide in 2025.

The partnership is not expected to affect AsiaPhos’s proposed acquisition of Exquisite Mode Sdn Bhd. However, shareholders and potential investors are advised to exercise caution, as the agreement is non-binding and can be terminated by either party. The collaboration marks a significant step for AsiaPhos as it continues to seek opportunities to enhance shareholder value.

XPENG, a leader in intelligent electric vehicles (EV), has teamed up with Ant International’s Antom to introduce a streamlined payment solution for EV charging. Launched on 9 February in Hong Kong, this collaboration marks XPENG as the first Chinese new-generation EV maker to establish a global payment partnership with Antom. The initiative aims to simplify the charging process for users by integrating payment options directly into the XPENG APP.

The partnership allows XPENG users in Hong Kong to initiate and complete charging payments using AlipayHK, with credit card options to follow. This service is part of a broader strategy to expand into Southeast Asia and other global markets by 2026. Antom’s solution integrates over 300 payment methods across more than 200 markets, supporting payments in over 100 currencies, thus addressing the challenges of fragmented payment channels.

Gary Liu, General Manager of Antom, highlighted the strategic importance of this collaboration, stating, “Payment becomes a strategic capability for automakers’ charging platforms to deliver better user service, improve efficiency and achieve sustainable growth.”

XPENG’s global expansion is evident, with overseas deliveries reaching 45,008 units in 2025, a 96% increase from the previous year. The company’s charging network now spans 31 countries, connecting over 2.66 million charging piles. Lawrence Li, General Manager of XPENG Overseas Charging, noted that the collaboration with Antom extends beyond payments, aiming to foster broader cross-industry partnerships.

In 2026, the partnership will expand to Singapore, Thailand, Malaysia, Indonesia and additional global markets. Antom will help XPENG enable DANA (Indonesia), Touch ‘n Go eWallet (Malaysia), TrueMoney (Thailand), and other regional payment methods.

Metro Holdings Limited has announced the divestment of its 26% stake in the Boustead Industrial Fund (BIF), a move expected to generate approximately S$116m in net proceeds. The transaction involves Metro’s wholly-owned subsidiary, Metrobilt Construction, selling its interest in BIF’s 15 properties to UI Boustead REIT. The properties, valued at S$765.7m, include industrial, business park, and logistics sites across Singapore.

The divestment, finalised on 9 February 2026, is part of a unit purchase agreement with UI Boustead REIT. Alongside Metrobilt Construction, BP-Real Estate Investments and AP SG 21 Pte. Ltd. will also sell their stakes in BIF. The sale includes 12 properties directly owned by BIF and three properties held through BIF’s 49% equity interests in other entities.

Upon completion, Metro will receive cash from the sale of its units and the redemption of its 26% of the 7.0% Notes, in addition to its share of the distribution from the sale of the properties. The divestment allows Metro to unlock value and recycle capital into strategic opportunities, according to Yip Hoong Mun, Group CEO and Executive Director of Metro Holdings.

Metro Holdings, listed on the SGX-ST since 1973, has evolved from a textile store into a diversified property and retail group with a global presence. The divestment is not expected to significantly impact Metro’s net tangible assets or earnings per share for FY2026. Completion of the divestment is anticipated by March 2026, coinciding with the listing of UI Boustead REIT on the Singapore Exchange.

Salesforce has unveiled its latest State of Sales report, revealing that artificial intelligence (AI) is a pivotal strategy for driving company growth in 2026. The survey, which included 4,000 sales professionals globally and 100 in Singapore, highlights the increasing reliance on AI and agents to overcome administrative bottlenecks and enhance productivity. Notably, 82% of Singapore sales leaders with agents consider them essential for meeting business demands.

The report indicates that AI adoption in sales is now mainstream, with 80% of Singapore sales organisations utilising AI for tasks such as prospecting, forecasting, and drafting emails. AI agents are becoming increasingly popular, with 50% of sellers having used them and 44% planning to do so by 2027. These agents are expected to reduce prospect research time by 32% and email drafting by 34%.

Paul Carvouni, Senior Vice President and General Manager of Salesforce ASEAN, stated, “Agentic AI is the strategic lever that allows businesses to offload time-consuming administrative tasks and empower sales teams to focus on quality sales conversations.”

The report also highlights the challenges faced by Gen Z sellers, who spend only 35% of their time selling due to manual data entry tasks. This has led to a significant shift in workforce sentiment, with Gen Z more open to leaving their jobs due to a lack of advancement opportunities.

To maximise AI returns, 85% of Singapore sales professionals are focusing on data cleansing, with high performers prioritising data hygiene. This focus on trusted, connected data is crucial for supporting AI initiatives and maintaining a competitive edge in the market.

Singapore’s real estate market experienced significant growth in the fourth quarter of 2025, with investment sales reaching S$13.7b. This surge was bolstered by easing interest rates and currency stability, according to the latest report from Realion (OrangeTee & ETC) Research. The quarter saw increased interest across Government Land Sales, retail, office, and industrial segments, reflecting strong buyer confidence.

Office rents in the Central Region rose by 0.4% quarter-on-quarter, with island-wide occupancy climbing to 95.1%. This was supported by a net absorption of 236,500 square feet, despite an increase in total available shadow space to 432,000 square feet. The industrial sector also saw a 1.4% rise in property prices, led by multiple-user factories, although overall occupancy dipped to 88.7% due to new completions.

The retail market remained stable, with international visitor arrivals easing to 4 million in Q4 2025, yet full-year arrivals were resilient at 16.9 million. The Singapore Tourism Board projects further growth in 2026. Retail occupancy edged up to 93.7%, driven by demand in Fringe/Suburban Areas.

In the residential sector, prices grew at a slower pace of 0.6% in Q4 2025, with total sales hitting a four-year high of 26,492 transactions for the year. Rental prices dipped modestly, and rental volume decreased by 27.4% to 19,771 units in Q4 2025 from the previous quarter.

Looking ahead, the investment sale market in 2026 is expected to gain further momentum, supported by lower financing costs and stable economic fundamentals.

OCBC Singapore customers can now use the OCBC app to scan and pay using Weixin Pay (WeChat Pay) merchant QR codes in mainland China. This new feature, effective from 9 February 2026, enhances OCBC’s existing QR payment capabilities, which already include Alipay+ and UnionPay. The bank is the only one in Singapore offering this comprehensive QR payment service across 57 countries, including key markets like Malaysia, Thailand, and Japan.

The addition of Weixin Pay is significant as it, along with Alipay+, accounts for over 90% of China’s mobile payment transactions. This integration allows OCBC customers to make payments without the need for cash or additional apps, offering competitive exchange rates and real-time rate visibility. Regina Lim, OCBC’s Head of Card Payments and Personal Loans, highlighted the convenience this brings, especially with the Lunar New Year approaching, stating, “Our customers do not even need to download another payment app.”

China remains the top destination for OCBC’s Scan & Pay feature, with one in five overseas transactions occurring there last year. The average value of QR payments in China is nearly double that of other markets, reflecting growing confidence in using QR payments for more than just small purchases. This development is expected to further simplify travel and spending for OCBC customers, aligning with the bank’s broader Scan & Pay capabilities.

SGInnovate and CompTIA have announced a strategic partnership to bolster Singapore’s deep tech talent pipeline, focusing on AI and cybersecurity skills. This collaboration, formalised through a Memorandum of Understanding (MOU), aims to address the growing demand for skilled professionals in these fields, as job openings surged by 44% from 2024 to 2025, whilst only 20% of applicants meet the required skills.

The partnership introduces the CyberReady+ Bootcamp, a structured programme designed to help mid-career professionals, graduates, and career switchers transition into cybersecurity roles. The bootcamp offers a three-stage pathway covering essential networking concepts, threat intelligence, and AI-integrated system security. Additionally, CompTIA is launching SecAI+, its first global certification focused on securing AI within cybersecurity operations, hosted on SGInnovate’s Deep Tech Central platform.

Juliana Lim, Executive Director of People at SGInnovate, emphasised the national priority of developing talent in AI and cybersecurity, stating, “Our collaboration with CompTIA allows us to upskill individuals through a blend of preparatory workshops and formal certifications.”

The initiatives aim to bridge the gap between training and employment, ensuring that newly skilled talent is directly connected to Singapore’s deep tech ecosystem. Peter Schalkwijk, Vice President of APAC at CompTIA, highlighted the importance of combining classroom learning, on-the-job training, and professional certifications to build a highly skilled technology workforce.

By anchoring these initiatives on the Deep Tech Central platform, SGInnovate and CompTIA streamline the transition from learning to employment, connecting individuals with opportunities in the emerging tech space. Interested participants can register for the CyberReady+ Bootcamp and SecAI+ certification on SGInnovate’s website.

Nexus Global Payments (NGP) has appointed a joint venture between Payments Network Malaysia (PayNet) and Network for Electronic Transfers Singapore (NETS) as the Nexus Technical Operator (NTO). This decision follows a competitive procurement process and represents a significant step in establishing a global payments infrastructure. The NTO will be responsible for building, operating, and maintaining the Nexus infrastructure, ensuring compliance with global standards, and enhancing cybersecurity and operational resilience.

The joint venture was chosen due to the proven track record of both ASEAN payment networks and their commitment to innovation. The NTO will collaborate with Amazon Web Services and Endava to deliver the technical design and development of the Nexus platform. This collaboration aims to ensure that Nexus meets international standards and is scalable from the outset.

Andrew McCormack, CEO of NGP, stated, “Our partnership with PayNet and NETS is a major milestone towards our vision for an interoperable global payments network.” Praveen Rajan, CEO of PayNet, expressed pride in being part of this initiative, highlighting Malaysia’s growing role in enabling cross-border payments. Lawrence Chan, Group CEO of NETS, noted the appointment as a vote of confidence in Singapore’s role in advancing payment innovation.

The selection of the NTO marks progress towards Nexus’s first live deployment, with technical development set to begin in early 2026 and a go-live target in 2027. Nexus aims to simplify cross-border payments by connecting domestic real-time payment systems, reducing costs, and enabling instant international transactions.