Industry News

A recent survey by DCS Card Centre has revealed a significant shift in the financial preferences of young working professionals in Singapore, with customisation and flexibility emerging as top priorities. The survey, which involved 1,000 respondents aged 21 to 35, found that 85% value the ability to customise their credit card rewards rather than being restricted to a single type.

The findings indicate a growing demand for dynamic and personalised financial products. Notably, 46% of respondents expressed willingness to switch to financial products that allow toggling between various reward types, such as cashback, miles, investment credits, and carbon credits. This preference highlights a desire for smarter, consolidated financial tools, with 57% believing flexible rewards could reduce the need for multiple cards.

Key factors influencing credit card ownership include rewards and benefits, prioritised by 55% of respondents, followed by payment convenience (42%) and digital-first payment methods (39%).

Lionel, Managing Director of Consumer Cards at DCS Card Centre, stated, “With Singapore’s young professionals demanding smarter, more intuitive solutions, financial institutions must innovate to meet consumer expectations by offering products that prioritise a client-centric approach and seamless digital integration.”

In response to these trends, DCS Card Centre launched the FLEX card in 2024, designed to offer personalised rewards tailored to individual spending habits. The card will soon feature a reward-switching option, allowing users to toggle between miles, cashback, investment credits, and carbon credits, aligning with personal financial goals without the need for multiple cards.

The FLEX card also includes D-Vault, a virtual account feature that increases spending limits through digital asset top-ups, ensuring compliance with the Monetary Authority of Singapore’s regulations. This innovation reflects the evolving landscape of credit card offerings in Singapore, driven by the demands of digitally savvy consumers.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

Five actors from the popular series Romeo Returns—Azhar Sulaiman, Adam AF, Norman Hakim, Sham Visa, and Eric Fuzi—recently embarked on an exhilarating boys’ trip to Singapore, showcasing the city’s thrilling activities and culinary delights. The adventure, captured in the latest episode, highlights the blend of adrenaline and camaraderie that defines a memorable getaway.

The journey began at the Changi Experience Studio, located in Jewel Changi Airport, where the group engaged in interactive exhibits and a competitive cycling race against a virtual aeroplane. This high-tech experience set the tone for their action-packed itinerary.

Next, the group faced their fears at Skypark Sentosa, home to the AJ Hackett Bungy Jump and The Giant Swing. Perched 47 metres above Siloso Beach, these attractions tested their courage. Sham Visa, the group’s daredevil, exclaimed, “We made history! This is right up my alley, I loved it!” Norman Hakim, initially hesitant, appreciated the support of his friends, saying, “I am so thankful to have Sham and Azhar with me to face my biggest fear.”

The adventure continued at Xcape Singapore, an escape room experience featuring crime thrillers and horror adventures. The actors tackled one of the scariest rooms, relying on quick thinking and teamwork to succeed.

After their adrenaline-fuelled exploits, the group indulged in Singapore’s culinary offerings. They dined at Restaurant Aisyah and Segar Restaurant, enjoying Xinjiang-inspired and Zichar dishes. For a fine-dining experience, they visited Permata Singapore, where Adam AF remarked, “It is like a delectable bomb has exploded in my mouth.”

The Romeo Returns episode can be streamed on Astro Ultra, Ulti Box, and the Astro GO and Sooka apps, inviting viewers to relive the adventure and plan their own unforgettable trip to Singapore.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

GXS has announced an increase in the maximum balance for its Savings Account to S$95,000, effective 20 March 2025. This change allows customers to earn approximately $2,288 (S$2,288) annually in compounding interest, compared to $1,806 (S$1,806) with the previous limit of S$75,000, offering an additional $480 (S$480) for reinvestment.

The GXS Savings Account aims to maximise customer savings by eliminating unnecessary fees and introducing daily interest crediting. The account features Saving Pockets and Boost Pockets, which help customers focus on their financial goals. Funds in Saving Pockets earn 2.38% per annum, whilst Boost Pockets offer up to 2.78% per annum, with no fees or complex requirements.

This enhancement reflects GXS’s commitment to providing a more rewarding savings experience, encouraging customers to grow their wealth efficiently. The increased balance limit and competitive interest rates position the GXS Savings Account as an attractive option for savers looking to optimise their returns.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

Specialist Risk Group (SRG), a leading insurance intermediary, has officially launched its Asia Pacific operations with a new regional hub in Singapore. Supported by investment giants Warburg Pincus and Temasek, this expansion marks a pivotal step in SRG’s global growth strategy. The launch was celebrated with a dinner on 21 March 2025 at the Mandarin Oriental, Singapore, attended by 250 guests, including clients, business partners, and investors.

The expansion aims to replicate SRG’s successful UK and Ireland model, which focuses on complex risks, specialist expertise, and a people-first culture, in the dynamic Asia Pacific insurance market. Collin Yap, CEO Asia Pacific, highlighted the company’s vision to become the preferred broker for hard-to-place risks, emphasising SRG’s commitment to bringing its specialist mindset and entrepreneurial spirit to the region.

Group CEO Warren Downey noted, “Singapore was the obvious choice for our Asia Pacific base—a global hub in an increasingly complex world.” He praised Collin Yap as the natural leader for this venture, sharing a vision to build a company grounded in decency, respect, and service.

SRG’s Asia Pacific team is dedicated to providing bespoke solutions for the region’s most complex risks, leveraging global expertise and a deep understanding of local markets. The company is committed to fostering an environment where specialist talent can thrive, aiming to build lasting relationships within the industry.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

Johnnie Walker has launched its most ambitious blending platform yet, the Johnnie Walker Vault, in Singapore. This exclusive initiative offers whisky enthusiasts access to the brand’s rarest blends and luxury experiences. The launch event, held at Diageo Singapore’s Private Client Suite, featured a Blending Artistry Atelier led by Master Blender Dr. Emma Walker and Global Brand Ambassador Ewan Gunn.

Guests at the atelier experienced a personalised whisky blending journey, crafting bespoke blends using some of Diageo’s rarest single malts. The session included a tasting of Johnnie Walker’s luxury portfolio, featuring the iconic Johnnie Walker Blue Label and the ultra-rare Johnnie Walker Aged 52 Years. A highlight was a bespoke blend created by Dr. Walker for Singapore fashion icon Yoyo Cao, inspired by Japanese culture and autumn.

The Johnnie Walker Vault aims to showcase the pinnacle of the brand’s blending artistry, emphasising craftsmanship and luxury. Later this year, the Vault plans to collaborate with a visionary couture fashion artist for a limited-edition collection, with details to be announced in Spring 2025. This initiative marks a significant step in offering whisky connoisseurs unique and immersive experiences, reinforcing Johnnie Walker’s position as a leader in the luxury whisky market.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

RHB Singapore has announced its partnership with Mediacorp as the main bank sponsor for the highly anticipated television series, “Emerald Hill – The Little Nyonya Story”. This collaboration marks RHB’s first venture into television sponsorship, aligning with its commitment to support local productions that celebrate Singapore’s rich Peranakan heritage.

Luke Diep, RHB’s Head of Brand Marketing & Communications, expressed enthusiasm for the partnership, noting the synergy between the bank’s values and the show’s cultural themes. “As a bank with a strong legacy and a progressive vision, we are honoured to support a local production that embodies culture, tradition, and kinship,” Diep stated.

RHB’s dedication to preserving heritage is evident in its Orchard Premier Centre, a Peranakan-themed branch, and its other branches across Singapore, which feature Peranakan-inspired décor. This approach reflects the bank’s aim to foster deeper community connections beyond traditional banking.

Coreen Kwan, Head of Retail Banking at RHB, highlighted the partnership’s potential to engage customers through storytelling and shared experiences. “This partnership allows us to engage more customers through shared experiences and storytelling, strengthen our brand presence, and appeal to individuals considering to embark on their banking journey with us,” Kwan said.

“Emerald Hill – The Little Nyonya Story” airs weekdays at 9pm on Channel 8, with streaming available on mewatch Prime and Netflix. RHB invites viewers to join this journey, blending tradition with progress whilst staying true to its heritage.

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

FS-ISAC has released a new report titled “Charting the Course of AI: Practical Considerations for Financial Services Leaders,” offering a strategic roadmap for financial firms in Singapore and globally to adopt generative AI (GenAI) responsibly. The guidance arrives as the sector grapples with AI readiness challenges, with only 13% of Singaporean organisations fully prepared for AI adoption, according to the Cisco AI Readiness Index.

The report, developed by FS-ISAC’s AI Risk Working Group, addresses the complexities of implementing GenAI safely and effectively. It highlights significant hurdles such as infrastructure needs, regulatory changes, copyright issues, and talent shortages. Mike Silverman, FS-ISAC’s Chief Strategy & Innovation Officer, stated, “AI has the ability to completely transform how we do business, but the impact of that transformation largely remains to be seen.”

Key takeaways from the whitepaper include eight critical questions designed to help organisations prepare for future AI uses, focusing on governance, training, data diversity, and risk management. Additionally, the paper outlines realistic short-, medium-, and long-term risk scenarios to aid leaders in proactive risk management.

The guidance is timely, as 91% of Singapore organisations have experienced identity-related breaches, partly due to increased use of multi-cloud and AI technologies. By leveraging the insights provided, firms can better integrate AI whilst managing associated risks, ultimately supporting the resilience of the financial sector and safeguarding trust in the global financial system.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

Gynaecomastia, a condition characterised by the development of excess male breast tissue, affects men across all ethnic groups in Singapore, according to a recent study by Amaris B. Clinic. Conducted by Ivan Puah, Medical Director of the clinic, the study analysed 602 patients treated for gynaecomastia between January 2018 and December 2024, debunking the myth that the condition is more prevalent in certain racial groups.

Ivan Puah, an MOH-accredited liposuction doctor, stated, “There is a common belief in Singapore that gynaecomastia is more prevalent in certain ethnic groups, but my experience tells a different truth. I’ve treated patients from all racial backgrounds, proving that this condition isn’t selective — it can happen to any man, regardless of ethnicity.”

The study’s findings highlight the importance of proper diagnosis and treatment. Gynaecomastia can manifest as true gynaecomastia, involving excess glandular tissue, or as mixed gynaecomastia, a combination of glandular and fatty tissue. Ivan Puah’s 360° Glandular Tissue Dissection (360° GTD) technique offers a less invasive surgical option, effectively eliminating glandular tissue with minimal downtime and well-concealed scarring.

The study also revealed the demographics of patients seeking treatment: 42.6% were Chinese, 19.7% Indian, 12% Caucasian, and 8.9% Malay. The rising number of Chinese patients reflects growing awareness rather than higher susceptibility. Factors such as hormonal imbalances, genetics, obesity, and certain medications contribute to the condition.

Ivan Puah emphasised the psychological impact of gynaecomastia, noting that many men suffer in silence due to stigma and misinformation. He urged those affected to seek expert help, stating, “Our study proves no ethnicity is immune, and timely care is critical. Seeking expert help is the first step towards a better well-being and reclaiming your confidence.”
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

The Maritime and Port Authority of Singapore (MPA) and the Port of Rotterdam have signed a Cooperation Agreement to bolster their collaboration on the Rotterdam-Singapore Green and Digital Shipping Corridor. This initiative, which began in 2022, aims to reduce greenhouse gas emissions from large container vessels by 20-30% by 2030, whilst enhancing digitalisation for efficient port operations.

Since its inception, the corridor has united 28 partners across the container shipping value chain to promote sustainable fuels and digital solutions. The focus is on bio- and e-variants of ammonia, methanol, and methane, with working groups established for each fuel type. Notable achievements include the first successful bunkering of mass-balanced liquefied bio-methane at the Port of Rotterdam, with a similar trial planned in Singapore in 2025.

On the digital front, the ports have trialled the exchange of port-to-port data to optimise vessel arrival planning. They have also developed ship-to-shore data exchange infrastructure to streamline port clearance processes. The first phase of testing global standards and digital solutions commenced in March 2025, with further enhancements expected later in the year.

Teo Eng Dih, Chief Executive of MPA, highlighted the importance of public-private collaboration in advancing decarbonisation and digitalisation efforts. Boudewijn Siemons, CEO of the Port of Rotterdam, emphasised the corridor’s role in setting new industry standards and improving trade efficiency. Both leaders expressed commitment to continuing their work together to achieve these ambitious goals.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

The Institute of Technical Education (ITE) Singapore and Dell Technologies have joined forces to establish a Hybrid Cloud Virtual Desktop Infrastructure (VDI) Centre, aiming to enhance digital skills and accelerate AI adoption. The centre, powered by Dell VxRail, supports up to 80 virtual machines and allows students to learn from any location, offering a flexible teaching environment.

The VDI Centre is designed to address the challenges faced by traditional classroom models, particularly highlighted during the pandemic. By eliminating the need for physical desktops, it provides students with access to advanced AI tools such as GenAI animation and 3D modelling, enhancing their learning experience. The centre also facilitates collaboration with small and medium enterprises (SMEs) on AI-focused projects, bridging the gap between education and real-world applications.

As part of this initiative, ITE aims to deliver a Universal Omniverse Experience (UOX), equipping staff and students with essential digital skills through training, upskilling, and certification in areas like cloud computing and virtualisation. Andy Sim, vice president and managing director of Dell Technologies Singapore, stated, “Our collaboration with ITE aims to nurture AI-savvy talent and enhance tech curricula, supporting enterprises and communities in building an AI-ready workforce.”

The partnership between ITE and Dell is underpinned by three pillars: training, skilling, and certifying. Dell will provide expertise in IT infrastructure and hybrid cloud, whilst collaborating with ITE to develop skill-building programmes. Additionally, short courses focused on technical certification will be offered to SMEs, with participants receiving a Certificate of Competency from ITE upon completion. This collaboration supports lifelong learning and strengthens ties with the technology sector, preparing an AI-ready workforce for the future.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.