Industry News

Brilliance Capital Pte Ltd has announced the sale of a freehold conservation shophouse at 350/350A Tanjong Katong Road, Singapore, available through an Expression of Interest (EOI) process. Priced at $7.98m, this two-storey property with an attic presents a unique investment opportunity, especially as the Urban Redevelopment Authority (URA) has ceased granting new restaurant use approvals in the area.

The shophouse is fully tenanted, with the ground floor leased to a food and beverage (F&B) operator and the upper floors to a coliving operator, ensuring immediate rental income. The property’s strategic location in a vibrant heritage district, combined with its rare F&B-approved ground floor, enhances its investment appeal. The site is zoned for Residential with Commercial at 1st Storey under the URA Master Plan 2019, allowing for potential expansion up to four storeys, subject to approvals.

Sammi Lim, Founder and Executive Director of Brilliance Capital, highlighted the property’s appeal: “Freehold conservation shophouses in well-established lifestyle districts like Tanjong Katong are highly coveted. With its rare F&B-approved ground floor, immediate rental income, and future upside, this property is an exceptional investment.”

The EOI exercise closes on 16 May 2025. Brilliance Capital, known for its expertise in luxury real estate, is the exclusive marketing agent for this sale. The property’s location offers seamless connectivity to major lifestyle hubs and transport links, making it a prime asset for investors seeking long-term value growth in Singapore’s heritage real estate market.
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The Singapore Department of Statistics has released the Services Producer Price Indices for the fourth quarter of 2024, revealing varied trends across different sectors.

Notably, the indices showed an increase for warehousing and storage by 1.4%, accounting services by 0.4%, computer consultancy and information services by 0.4%, and cargo handling by 0.2%.

Conversely, there was a significant decline in sea freight transport prices, which fell by 8.3%, alongside decreases in freight forwarding by 0.9% and telecommunications services by 0.3%.

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Tiger Brokers Singapore has achieved a remarkable feat by winning three prestigious awards at The Asset Triple A Digital Awards 2025. The firm, regulated by the Monetary Authority of Singapore, was honoured with the titles of Best Mobile Application of the Year and Digital Brokerage of the Year. Additionally, its affiliate, Tiger Fund Management, was awarded Digital Fund Manager of the Year.

These accolades underscore Tiger Brokers’ commitment to delivering exceptional digital experiences for both retail and institutional investors. Ian Leong, CEO of Tiger Brokers Singapore, expressed gratitude for the recognition, stating, “These accolades are testament to our unwavering commitment to innovation, excellence, and the trust our users place in us.”

The Asset Triple A Digital Awards are renowned for setting benchmarks in digital innovation and service delivery within the financial services industry. The rigorous selection process highlights the significance of Tiger Brokers’ achievements. Jeremy Tan, CEO of Tiger Fund Management, noted, “Receiving this award is a heartening encouragement for our team as we continue to serve accredited and institutional investors with dedication and excellence.”

Tiger Brokers has expanded its services beyond retail brokerage to include wealth management, institutional brokerage, and investment banking, serving over 10 million global users. The firm’s flagship platform, Tiger Trade, offers a comprehensive range of investment products across six global exchanges. With a strong presence in Singapore, Hong Kong SAR, the US, Australia, and New Zealand, Tiger Brokers continues to redefine global investing with cutting-edge technology.
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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.
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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.
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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.
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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.
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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.
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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.

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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.
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