Industry News

OCBC, one of Singapore’s largest banks, has announced a landmark £10b investment into the United Kingdom’s key growth sectors, including energy, infrastructure, and real estate, by 2030. This strategic partnership, formalised through a Memorandum of Understanding (MoU) with the UK’s Office for Investment, marks the largest inward investment from an Asian bank into the UK.

The collaboration is set to enhance UK-Singapore relations during the 60th anniversary of their diplomatic ties. UK Minister for Investment, Baroness Poppy Gustafsson, highlighted the significance of the investment, stating, “This £10 billion commitment from OCBC is a major vote of confidence in the UK economy. Not only will it help create more opportunities in real estate and infrastructure, but will also back our clean energy industry.”

OCBC’s Head of Global Corporate Banking, Elaine Lam, expressed pride in strengthening the UK-Singapore relationship, noting the bank’s significant growth in the UK, particularly in sectors aligned with the UK’s industrial strategy. “Our UK business has grown significantly over the years and our London branch is now the largest in our international network,” Lam said.

The investment is expected to create more opportunities for Asia Pacific businesses looking to invest in the UK. Martin Kent, His Majesty’s Trade Commissioner for Asia Pacific, remarked on the UK’s attractiveness as a world-class investment destination, with foreign direct investment stock exceeding £2 trillion in 2023.

As part of the agreement, OCBC will also support UK businesses seeking to expand into Singapore and Southeast Asia, further solidifying the economic partnership between the two nations.
“`

Aspire, a leading financial technology company, has announced it has obtained the Capital Markets Service (CMS) Licence from the Monetary Authority of Singapore (MAS) as of 3 April. This achievement allows Aspire to broaden its range of financial services within Singapore, enhancing its ability to serve businesses with more comprehensive solutions.

The CMS Licence is a crucial regulatory approval that enables Aspire to offer a wider array of capital market products and services. This development is expected to bolster Aspire’s position in the competitive fintech landscape of Singapore, where regulatory compliance is key to gaining trust and expanding operations.

Maddie Gupta, Brand Marketing Lead at Aspire, expressed enthusiasm about the milestone, highlighting its importance for the company’s growth strategy. “Securing the CMS Licence from MAS is a testament to our commitment to providing innovative financial solutions whilst adhering to the highest regulatory standards,” she stated.

This licence acquisition is part of Aspire’s broader strategy to enhance its service offerings and solidify its presence in the region. By obtaining this licence, Aspire can now engage in activities such as dealing in capital markets products, providing fund management services, and more, thereby offering a more robust suite of services to its clients.

As Aspire continues to expand its capabilities, the company is poised to play a more significant role in Singapore’s financial ecosystem, potentially influencing market dynamics and offering new opportunities for businesses seeking financial services.
“`

Samsung Electronics Singapore has launched its 2025 Odyssey monitor lineup, featuring the innovative Odyssey 3D, the advanced Odyssey OLED G8 with a 4K 240Hz screen, and the ultrawide Odyssey G9. These monitors aim to deliver exceptional visual experiences for gamers and content creators.

The Odyssey 3D G90XF model introduces a groundbreaking 3D gaming experience without the need for glasses, using advanced eye-tracking technology and a proprietary lenticular lens. This technology, accessible via the Reality Hub app, transforms 2D content into immersive 3D, enhancing the visual experience whilst reducing eye strain. The monitor also boasts a 165Hz refresh rate and 1ms response time, ensuring smooth gameplay.

The Odyssey OLED G8, available in 27 and 32 inches, is the first 4K monitor with a 240Hz refresh rate. It offers the highest pixel density for its size, delivering vibrant colours and contrast with VESA DisplayHDR TrueBlack 400 certification. The monitor’s AI processor enhances picture quality, whilst its Dynamic Cooling System protects against burn-in.

The Odyssey G9 features a 49-inch Dual QHD display with a 1000R curve, providing high-quality visuals for an immersive gaming experience. It supports multitasking with Picture-by-Picture and Picture-in-Picture features.

Samsung is collaborating with game developers like Nexon, Neowiz, and Hoyoerse to maximise the potential of its 3D technology. The new Odyssey lineup is available for registration of interest until 6 April, with pre-orders from 7 to 20 April and general availability from 21 April. Prices range from $1,388 (S$1,888) to $2,188 (S$2,988).
“`

Emerhub, a prominent provider of market entry and corporate compliance services, has announced the opening of its new office in Singapore, marking the completion of its Southeast Asia expansion. With this strategic move, Emerhub now operates in all major markets in the region, including Indonesia, Vietnam, the Philippines, Thailand, and Malaysia.

The company offers a range of services such as company incorporation, visa processing, accounting, and tax services, aimed at simplifying the complex regulatory processes for businesses looking to expand in Southeast Asia. Lauri Lahi, Chairman of Emerhub, stated, “Our expansion into Singapore fulfils our mission to make Southeast Asia easily accessible for companies of all sizes.”

Singapore’s stable regulatory environment and business-friendly policies provide significant advantages for companies targeting regional growth. Emerhub’s presence in this key financial hub allows clients to efficiently capitalise on Southeast Asia’s economic opportunities, reducing administrative burdens and time-to-market.

Emerhub’s Entity Management System further simplifies company setup, compliance management, and administrative tasks by integrating user-friendly technology with local expertise. Clients benefit from real-time updates, straightforward reporting, and key regulatory insights, all accessible through a centralised platform.

Founded in 2011, Emerhub operates eight offices across Southeast Asia, supported by over 146 consultants. The company’s expansion into Singapore underscores its commitment to lowering entry barriers and facilitating seamless business operations across emerging markets.
“`

The European Union (EU) is set to make a significant impact at the FHA-Food & Beverage Singapore 2025 exhibition, running from 8 to 11 April at Singapore Expo. The EU Pavilion will feature a diverse array of high-quality food and beverages from all 27 EU Member States, emphasising the excellence, safety, authenticity, and sustainability of European agricultural products.

The event will kick off with an official opening ceremony on 8 April, inaugurated by Iwona Piórko, the EU Ambassador to Singapore. The ceremony will include a special cooking demonstration by Star Chef François Mermilliod, showcasing the versatility of EU ingredients in fusion with local flavours. Attendees will also have the opportunity to engage in live cooking shows and exclusive tastings, offering a first-hand experience of the EU’s culinary heritage.

The EU Pavilion aims to strengthen business partnerships between the EU and Singapore, highlighting the immense potential of European agri-products in the Singaporean market. Educational sessions led by experts will cover key product categories such as cheese, dairy, olive oil, and confectionery, providing valuable insights for buyers, retailers, and distributors.

This participation comes at a pivotal time in EU-Singapore trade relations, with the EU-Singapore Free Trade Agreement in effect since November 2019 and a Digital Trade Agreement concluded in July 2024. The EU Pavilion will serve as a platform for fostering new trade opportunities and collaborations in the food and beverage sector.
“`

Pepper Cloud, a Singapore-based tech company, has been awarded the Google AI Trailblazers Transformation Award 2024 for its innovative use of artificial intelligence in business solutions. The accolade highlights Pepper Cloud’s AI WhatsApp Sales CRM, which enhances business productivity through automation and intelligent insights.

The award underscores Pepper Cloud’s rapid expansion into major international markets, including the US, UK, and UAE. The company has been endorsed by the Infocomm Media Development Authority (IMDA) as a Productivity Solutions Grant-approved digital solution and CTO-as-a-Service provider, aiding small and medium-sized enterprises (SMEs) in their digital transformation efforts.

Pepper Cloud’s solutions have been featured in an IMDA case study, showcasing their impact on improving customer engagement and operational efficiency for companies like 707-Inc. Additionally, Pepper Cloud was selected to participate in Meta’s Llama Incubator Kick-Off event, supported by Meta, AI Singapore, SGInnovate, and the Singapore Economic Development Board, further solidifying its position as a leader in AI innovation.

The company’s pioneering work in integrating WhatsApp with AI technology allows businesses to engage with customers more effectively and at scale. Trusted by local organisations such as Urban Mood and Nam Ho Travel, Pepper Cloud continues to redefine SME growth in the digital age.

This recognition from Google and other industry leaders highlights the significant role of AI in transforming the local tech ecosystem, positioning Pepper Cloud as a key player in the global market.
“`

A recent survey by the American Chamber of Commerce in Singapore (AmChamSG) has highlighted significant concerns amongst businesses regarding the impact of reciprocal tariffs. Conducted in collaboration with BowerGroupAsia Singapore and PwC Singapore, the survey revealed that more than two-thirds of respondents believe these tariffs pose greater challenges than existing measures. The findings, published in the report “Navigating Tariffs: Insights from AmChamSG Flash Survey,” underscore the complexities businesses face in the current trade environment.

The survey found that whilst 20% of respondents believe the new US tariffs will not affect them, over 70% anticipate a negative impact on their operations. Nearly half of the businesses surveyed plan to pass on increased costs to consumers, whilst others are looking to diversify supply chains to mitigate reliance on high-tariff markets. Additionally, over 90% of respondents predict that the tariffs will harm the US economy more than those of ASEAN or Singapore.

Dr Hsien-Hsien Lei, CEO of AmChamSG, commented on the findings, stating, “The findings from the AmChamSG flash survey show that tariffs and trade tensions have caused companies to feel greater uncertainty, which then delays major decisions that would affect business operations.” She emphasised the need for businesses to exercise due diligence in examining their supply chains to prepare for potential disruptions.

AmChamSG, established in 1973, remains committed to supporting its members through advocacy, community, and thought leadership as they navigate the evolving tariff landscape. The full report is available for download on AmChamSG’s website.
“`

The Maritime and Port Authority of Singapore (MPA) and the Police Coast Guard have launched a search operation after a man reportedly fell into the waters off Changi from a moored barge at approximately 12:20 am today. The incident has prompted immediate action from the authorities to locate the missing individual.

In response to the situation, both MPA and the Police Coast Guard have deployed assets to conduct a thorough search of the area. Additionally, MPA has issued a navigation broadcast advising vessels passing through the vicinity to maintain a lookout, ensuring the safety of all maritime traffic in the area.

The search operation highlights the swift response of Singapore’s maritime authorities in handling emergencies at sea. The incident underscores the importance of safety measures and vigilance in maritime operations, particularly in busy shipping lanes such as those near Changi.

As the search continues, authorities are urging all vessels in the area to cooperate with the ongoing efforts and adhere to the navigation advisories issued. The outcome of the search operation remains to be seen, with updates expected as the situation develops.
“`

A recent study by United Women Singapore (UWS) has highlighted significant barriers deterring young women from pursuing careers in science, technology, engineering, and mathematics (STEM). The survey, which involved over 1,000 Singaporeans aged 18 to 34, found that whilst 63% of respondents believe equal gender representation in STEM is crucial, only 30% of women feel they have equal opportunities compared to their male counterparts.

The research comes at a pivotal time as Singapore’s tech sector has expanded by 25% over the past five years. Despite progress, with the proportion of women in STEM roles increasing from 29% in 2014 to 35% in 2024, the study underscores the need for ongoing efforts to enhance gender diversity. Tan Ching Ne, President of UWS, stated, “These findings highlight a significant disconnect that risks Singapore’s ability to build the workforce needed for our future economy.”

The study also revealed that societal expectations and stereotypes are perceived by 61% of women and 51% of men as contributing factors to gender imbalances in STEM. Furthermore, only 23% of women feel they receive adequate support to succeed in these fields, compared to 52% of men. The research emphasises the importance of male allies in advancing women in STEM, though many men underestimate their potential impact.

Dr Kenneth Lee, Regional Medical Director for Abbott, which supported the research, noted the importance of partnerships with advocacy groups like UWS to drive cultural changes. “Abbott’s goal is to create opportunities in STEM through programmes and internships,” he said, highlighting the company’s commitment to inspiring the next generation of STEM professionals.

The study suggests several solutions to bridge the gender gap, including challenging outdated stereotypes, expanding mentorship programmes, and increasing the visibility of female STEM leaders. As Singapore continues to grow its tech sector, fostering an inclusive environment remains essential for harnessing the full potential of its talent pool.
“`

Savills Singapore has announced the sale of a full office floor at Suntec City Tower 1, offering a prime investment opportunity. The office, located on a high floor, comprises three strata titles ranging from 3,498 to 4,908 square feet, totalling 12,045 square feet. The property promises immediate and stable rental income, appealing to investors seeking a strategic asset in Singapore’s bustling business district.

Suntec City, a landmark development with five Grade A office towers, a large retail mall, and a convention centre, underwent significant enhancements in 2022. These upgrades included improvements to entrance lobbies, reception areas, and other facilities, enhancing its appeal. The development boasts excellent connectivity with direct access to major MRT lines and expressways, ensuring seamless accessibility.

Sophia Lim, Director of Investment Sales & Capital Markets at Savills Singapore, highlighted the property’s appeal, stating, “Suntec City remains a top choice amongst family offices, investors, and end-users, valued for its prime attributes including panoramic views, an impressive arrival lobby, ample carparking, efficient floor layouts, and seamless integration of amenities.”

Recent transactions at Suntec City have shown stable demand, with strata office units selling at prices ranging from $3,684 to $3,817 per square foot. The guide price for the full floor is set at $40.95 million, equating to approximately $3,400 per square foot, with an expected yield of 3.8% on a fully let basis. The sale is open to both foreigners and companies, with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty applicable. The transaction will be conducted through a Private Treaty exercise.
“`