Industry News

Brand Finance has released its Singapore 100 2025 report, showcasing the nation’s top 100 most valuable brands. The report highlights banking, tourism, and insurance as the key sectors driving the growth in Singapore’s total brand value.

The Brand Finance Singapore 100 2025 report, unveiled by the world’s leading brand valuation consultancy, underscores the significant contributions of these three sectors to the country’s brand landscape. Banking brands continue to dominate, reflecting their robust performance and strategic importance in Singapore’s economy. Meanwhile, tourism brands have shown resilience and adaptability, capitalising on the country’s appeal as a global travel destination. Insurance brands have also played a crucial role, leveraging Singapore’s reputation as a financial hub to enhance their value.

Vicneswary Balakrishnan, Marketing & Communications Executive at Brand Finance, emphasised the importance of these sectors in shaping Singapore’s brand identity. The report provides insights into how these industries are not only maintaining but also enhancing their brand equity amidst global challenges.

The findings of the Brand Finance Singapore 100 2025 report are expected to influence strategic decisions within these sectors, as companies seek to strengthen their market positions. As Singapore continues to navigate the complexities of the global economy, the performance of its leading brands will be pivotal in sustaining its economic growth and international reputation.
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The Straits Times Index (STI), a key market barometer for Singapore, has achieved a significant milestone by crossing the 4,000 mark. This achievement underscores the strength and resilience of Singapore’s financial markets. The STI, which comprises 30 of the largest and most liquid companies listed on the Singapore Exchange, has been a benchmark index since its inception in 1966.

Over the past three years, the STI has delivered a total return of 40%, with a compound annual growth rate (CAGR) of 11.9%, outperforming the S&P 500 Index, which recorded a total return of 31% and a CAGR of 9.4%. This performance highlights the robust returns that the STI has provided to investors over the years.

Two Exchange Traded Funds (ETFs) have been launched since 2002, allowing investors to track the performance of the STI. These ETFs have amassed a combined record of S$2.5b in assets under management, reflecting investor confidence in the index’s performance.

The Singapore Exchange (SGX) continues to support investors with comprehensive research reports available on their website, ensuring that investors remain informed about market developments. Elgin Seah from SGX’s Marketing & Communications department emphasised the importance of these updates in showcasing the resilience and performance of Singapore’s financial markets.

As the STI reaches this new milestone, it serves as a testament to the enduring strength of Singapore’s economy and its financial markets. Investors and market participants will be closely watching for further developments and opportunities as the index continues to evolve.
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A recent study by Morgan McKinley indicates that 55% of Singaporean professionals are actively seeking new employment opportunities in 2025, highlighting a fiercely competitive job market. This trend is compounded by the fact that 80% of employers are finding it challenging to attract talent due to uncompetitive salary and benefits packages.

The Morgan McKinley 2025 Salary Guide reveals that 50% of hiring managers plan to recruit within the next six months, intensifying the competition for skilled workers. The guide also notes that 85% of organisations found hiring to be ‘Very’ or ‘Quite’ competitive in 2024, with 63% of professionals expressing dissatisfaction with their current benefits.

Flexibility remains a significant concern for employees, yet many companies are increasing in-office requirements. Only 15% of organisations offer 1-2 remote workdays per week, whilst 39% require 3-4 days in the office, 35% mandate full-time office attendance, and 11% offer fully remote options. This shift towards more in-office work may clash with employee expectations.

Compensation strategies are under scrutiny, with 60% of organisations maintaining static salary bands in late 2024. However, 56% of employers plan to increase salaries for hard-to-fill roles, reflecting a necessary adjustment to attract talent. Despite this, only 50% of professionals expect a pay rise in 2025.

Andrew Evans, COO of Morgan McKinley Asia Pacific, stated, “The Singapore job market is currently experiencing a period of intense competition for talent. Organisations must adapt to evolving expectations of professionals to avoid missed hiring opportunities.”

The Morgan McKinley 2025 Salary Guide provides comprehensive salary data for various roles, aiding hiring managers in making informed compensation decisions and offering professionals insight into their earning potential.
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Wärtsilä, a leader in smart marine technologies, has renewed its partnership with the Maritime and Port Authority of Singapore (MPA) to drive maritime decarbonisation. The collaboration will see the introduction of the Methanol Power and Control (PAC) simulation model, aimed at equipping maritime professionals with the skills to operate methanol-powered vessels safely. This initiative, launched at Singapore Maritime Week 2025, marks a significant step in the industry’s transition towards cleaner fuels.

The renewed partnership focuses on advancing alternative fuels, optimising digital port operations, and nurturing future maritime talent. Wärtsilä plans to introduce an Ammonia PAC simulation model in early 2026, further enhancing capabilities for ammonia-powered vessels. These efforts are part of a broader strategy to lower the costs of adopting new technologies and improve safety procedures for low- and zero-emission fuels.

In collaboration with Singapore’s MarineTech ecosystem, MPA and Wärtsilä will explore research and development projects, including plume modelling and improvements in fuel handling. The partnership also aims to identify emerging skills required for operating methanol and ammonia engines, with training curricula developed using advanced simulation technologies.

Wärtsilä will host a Simulation User Conference in June 2025, focusing on fuel training and simulation. The event will cover advancements in renewable fuels and their applications in the maritime industry. Teo Eng Dih, MPA’s Chief Executive, emphasised the importance of this partnership in ensuring a safe and efficient bunkering environment in Singapore. Wärtsilä’s President and CEO, Håkan Agnevall, highlighted Singapore’s pivotal role in the global shipping industry’s journey towards net-zero emissions.
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The Maritime and Port Authority of Singapore (MPA) and the Institute of Chartered Shipbrokers (ICS) Singapore Branch have signed a Memorandum of Understanding (MoU) to enhance maritime education and professional development. The agreement, signed by Teo Eng Dih, Chief Executive of MPA, and Elaine Yu, Chairperson of ICS Singapore, coincided with the ICS Singapore’s inaugural Annual Conference during Singapore Maritime Week 2025.

The collaboration aims to promote professional training and certification for maritime professionals, support capacity-building initiatives, and foster knowledge-sharing within Singapore’s shipping community. The MOU also seeks to attract and nurture young talent in the maritime sector. ICS, the only internationally recognised professional body in the commercial maritime arena, administers the Professional Qualifying Examinations (PQEs), a flexible programme designed to equip maritime professionals with comprehensive industry knowledge.

Teo Eng Dih remarked, “The Institute of Chartered Shipbrokers is an important stakeholder in the maritime industry, championing high standards of professionalism in the maritime industry through emphasis on training and development. These are aligned to MPA’s strategic objectives.”

Elaine Yu added, “ICS Singapore is honoured to partner with MPA in advancing professional development in the shipping industry. This MoU represents a shared vision to elevate industry standards and create new opportunities for maritime professionals.”

The conference attracted over 100 delegates, including key figures such as Punit Oza, Global President of ICS, and Capt. Saunak Rai, Vice Chairman of ICS Singapore. This partnership is expected to strengthen Singapore’s position as a key maritime training hub in Asia.
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The World Trade Centres Association (WTCA) has announced its support for expanding Singapore’s investment footprint in Europe, with a focus on emerging sectors such as agriculture, banking, and health technology. This initiative will be highlighted at the 55th Annual WTCA Global Business Forum (GBF), set to take place from 6-9 April 2025 in Marseille, France. The event aims to provide a platform for fostering global trade and investment partnerships, particularly between Singapore and the Mediterranean region.

Singapore is set to invest between S$20b and S$25b in the Europe, Middle East, and Africa (EMEA) region over the next five years. This move aligns with the government’s long-term strategy to drive innovation and strengthen international partnerships. Scott Wang, WTCA Vice President for Asia Pacific, noted, “The Mediterranean region is a strategic gateway for Singaporean investors looking to strengthen their presence and expand trading opportunities in the EMEA market.”

The forum coincides with the 60th anniversary of diplomatic relations between Singapore and France, marked by the launch of a Comprehensive Strategic Partnership to enhance cooperation in green and digital economies. France remains a key trade partner for Singapore, with bilateral trade exceeding S$30b in 2023.

Themed “Gateway to the Mediterranean,” the forum will feature a range of programmes, including a Real Estate Summit and sessions on trade and investment trends. Benoit Vincent, CEO of WTC Marseille Provence, stated, “This event will create new opportunities for investment, trade, and partnership in one of the world’s most dynamic economic regions.” The gathering will bring together over 300 attendees from more than 50 countries, offering Singaporean businesses the chance to explore new markets and establish strategic alliances.
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Cushman & Wakefield has announced the sale of Piccadilly Serangoon, a brand new six-storey commercial building located at 1377 Serangoon Road, Singapore, with an indicative price of $75m. The property is being marketed through an Expression of Interest exercise, with bids closing on 25 April 2025.

Piccadilly Serangoon spans a site area of 5,791 square feet and boasts a total built-up area of approximately 30,300 square feet. The building features shops on the first two floors and offices above, complemented by communal facilities such as a rooftop swimming pool, a pavilion deck, and a barbeque area. It also includes a mechanised parking system with nine spaces. The property is expected to receive its Temporary Occupation Permit in the second or third quarter of 2025.

Strategically positioned between Boon Keng and Potong Pasir MRT stations, the building offers excellent connectivity via the Pan Island Expressway and Central Expressway, with a 15-minute drive to both the Central Business District and Changi Airport. The location also benefits from nearby amenities, including The Venue Shoppes and NEX.

Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield, highlighted the property’s potential: “Piccadilly Serangoon offers a unique opportunity for prospective purchasers to acquire a brand new, ready-built building and establish it as their flagship headquarters.” The property is zoned ‘Commercial’, allowing purchase by foreigners and companies without incurring Additional Buyer’s Stamp Duty or Seller’s Stamp Duty.

The area surrounding Piccadilly Serangoon has seen significant revitalisation, with developments like The Arcady at Boon Keng and Jui Residences, and is close to a high-tech industrial cluster and international schools. The building’s prominent location and facade offer branding opportunities for the new owner.
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Doctors at the National Heart Centre Singapore (NHCS) have successfully performed a groundbreaking procedure to treat blockages in mechanical heart pumps, known as Left Ventricular Assist Devices (LVADs), without the need for major surgery. This innovative approach, the first of its kind in Singapore, allows patients to recover in days rather than weeks.

LVADs are critical for heart failure patients whose hearts are too weak to pump blood independently. These devices can serve as temporary solutions for those awaiting a heart transplant or as permanent alternatives. However, they can develop dangerous blockages that traditionally required open-heart surgery to resolve.

The new procedure utilises a balloon and stent technique, adapted from a common heart procedure used to treat blocked blood vessels. This method is performed percutaneously, meaning through the skin and within blood vessels, to clear blockages in the tube that carries blood out of the mechanical heart pump. This advancement eliminates the need for open-heart surgery, significantly reduces recovery time, lowers the risk of infection, and improves survival rates.

Assistant Professor Zameer Abdul Aziz, a consultant in the Department of Cardiothoracic Surgery at NHCS, highlighted the significance of this development: “This procedure marks a significant leap forward in how we care for our LVAD patients. Now we can treat LVAD patients with outflow graft obstructions more safely and efficiently, through a small incision, dramatically reducing surgical risks and recovery time.”

With the increasing number of heart failure cases in Singapore and a growing waiting list for heart transplants, this procedure offers a vital lifeline for patients relying on LVADs. Asst Prof Tan Teing Ee, Director of the Heart Transplant & Mechanical Assist Device Programme at NHCS, emphasised the importance of this innovation in providing a safer, more sustainable option for patients with severe heart failure.
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Technology services firm NCS has announced a strategic joint venture with Globe Telecom in the Philippines, acquiring a 51% stake in Globe’s IT subsidiary, Yondu. This move will significantly expand NCS’ workforce in the Philippines from 150 to over 1,200 professionals, enhancing its Global Delivery Network and offering clients increased access to digital, cloud, data, and AI services.

The joint venture, to be renamed NCS Philippines, aims to leverage NCS’ global resources to augment Yondu’s existing services, which include Custom Software Development, eCommerce Solutions, and Cloud platforms. Ng Kuo Pin, CEO of NCS, highlighted the venture as a “significant milestone” in their Asia Pacific growth, emphasising the potential for business transformation and innovation in the telecommunications sector.

Ernest Cu, CEO of Globe, expressed optimism about the partnership, stating, “Partnering with NCS will unlock new global opportunities, enabling Yondu to expand its reach and deliver more impactful IT solutions worldwide.”

The transaction, valued at PHP 1,868m (approximately S$44m), involves a net consideration of PHP 134m (approximately S$3m) by NCS, funded through cash and internal resources. The deal is subject to certain conditions precedent before its finalisation.

This collaboration comes as the Asia Pacific IT services market is projected to grow at a compound annual growth rate of 6.2% from 2024 to 2028, with the Philippines expected to see an 8.7% growth rate, according to IDC. The joint venture positions NCS to capitalise on this growth, enhancing its service offerings and market presence in the region.
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The Maritime and Port Authority of Singapore (MPA) has partnered with Republic Polytechnic (RP) to launch a new Unmanned Aircraft (UA) Pilot Training programme. This initiative, formalised through a Memorandum of Understanding, is designed to equip MPA and commercial UA pilots with advanced skills for maritime applications, such as vessel inspection, emissions monitoring, and emergency response.

The comprehensive course will cover essential skills, including take-off and landing from vessels, emergency procedures at sea, and Beyond Visual Line of Sight operations. Pilots will also be trained to handle drones with various sensor payloads, including electro-optics and infrared imaging, and engage in tethered drone operations for extended surveillance.

Over the next five years, the collaboration aims to train more than 20 MPA UA pilots annually and develop a maritime-specific qualification for UA pilots. RP’s full-time lecturers, who are certified UA Pilot Licence trainers, will conduct the training. The programme also offers RP students internship opportunities with MPA, providing practical experience and potential career pathways in maritime drone operations.

In 2025, MPA plans to trial new drone capabilities, including coordinated operations for chemical spill management and a Maritime Drones Traffic Management System. These advancements are expected to enhance safety, fuel efficiency, and sustainability in maritime operations. The Maritime Drone Estate, launched in 2021, will be expanded to support commercial drone services, including remote inspections and shore-to-ship deliveries.
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