Industry News

Nordea Asset Management (NAM) has announced the registration of five new sub-funds from its Nordea 2 UCITS fund range as Restricted Funds in Singapore. These include Global Enhanced Equity, Global Responsible Enhanced Equity, Global Developed Responsible Enhanced Equity, Technology Enhanced Equity, and US Enhanced Equity. This move is part of NAM’s BetaPlus strategy, which aims to enhance returns beyond traditional passive investing by leveraging a systematic, multi-factor-based process and integrating NAM’s award-winning ESG expertise.

The introduction of these sub-funds underscores NAM’s commitment to expanding its investment strategies for Accredited and Institutional investors in Singapore. Ana Dhoraisingam, CEO of NAM SG and Head of Asia-Pacific Distribution ex-Japan, expressed enthusiasm about the launch, stating, “We are excited to introduce these BetaPlus investment strategies to the Singapore market. Nordea has been managing Index Enhanced strategies for over 15 years and we believe they offer investors here an alternative to passive strategies.”

NAM’s BetaPlus strategy is designed to meet fund-specific sustainability criteria and support decarbonisation goals, aligning with the company’s long-standing commitment to responsible investment. With a presence in multiple global financial hubs, NAM continues to offer a broad suite of investment solutions, covering all asset classes from fixed income and equity to multi-asset solutions.

This expansion in Singapore is a significant step for NAM, reflecting its dedication to providing diverse and sustainable investment options to its clients. As the company continues to grow its offerings, it remains focused on delivering stable returns and supporting global decarbonisation efforts.
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Haloocom Technologies, a leader in AI-driven business communication, has announced the establishment of its regional headquarters in Singapore. This strategic move, unveiled on 25 February 2025, aims to enhance the company’s presence in Southeast Asia (SEA) by introducing its flagship AI agent, HEXA, and advanced communication solutions to the region. The expansion is set to revolutionise business interactions, making them faster and more efficient.

Singapore’s innovation-driven ecosystem makes it an ideal base for Haloocom’s growth. The company is poised to meet the rising demand for AI-enhanced customer engagement, empowering enterprises with cutting-edge solutions. Levis Wilson, founder of Haloocom and managing director of Estontec Group, stated, “We have been growing rapidly and are excited to bring Haloocom Products and Services to the Southeast Asian market. Singapore will be our regional HQ to offer seamless and efficient support to organisations across the SEA region.”

Haloocom’s offerings include the HEXA AI Agent, a multi-lingual AI voice bot designed to automate customer interactions with precision, and omnichannel contact centre solutions that integrate voice, chat, and AI to enhance customer experience. Additionally, their advanced IPPBX and unified communication systems promise smarter, secure, and scalable business communication.

With over 100,000 users across five countries, Haloocom’s expansion into Singapore not only strengthens its global footprint but also unlocks new possibilities for businesses in the region. The future of AI-powered communication is set to begin here, with Haloocom leading the charge.
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MINDS has unveiled its latest public education campaign, “My Way,” aimed at fostering a deeper understanding and appreciation of Persons with Intellectual Disabilities (PWIDs). The campaign, launched on 25 February, seeks to challenge societal perceptions and celebrate the unique journeys of individuals within the PWID community.

The campaign features the inspiring stories of Muhammad Ramlee Bin Jamal, Johannes Cheong, and Anna Ow, each of whom embodies resilience and determination. Ramlee, 23, works as a health attendant at Peacehaven Nursing Home, where his dedication and compassion have made a significant impact. Anna, 19, is a retail staff member at Heartlands@Singapore Polytechnic, thriving in her role with the support of her family and community. Johannes, 29, a retail associate at Uniqlo, is also a celebrated badminton player and advocate for inclusivity.

MINDS, in collaboration with Ruder Finn Asia, has crafted a narrative that highlights these individuals’ contributions to society. The campaign includes videos, key visuals, and a refreshed “Our Stories” section on MINDS’ website. Publicity partners such as SMRT, CapitaLand, and the National Library Board support the initiative through various platforms, including bus wrap advertisements and digital posters.

Kelvin Koh, CEO of MINDS, emphasised the campaign’s goal: “By sharing stories, we hope to foster understanding, promote empathy, and bridge the gap between PWIDs and the wider community.” As Singapore celebrates its 60th year, MINDS invites the community to join in building a more inclusive nation through inclusive hiring practices, volunteering, and supporting social enterprises.
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M1 Limited, Vietnam Posts and Telecommunications Group (VNPT), and SSI Solutions have signed a strategic, non-binding Memorandum of Understanding (MOU) to implement 5G technology in Vietnam Maritime Corporation’s (VIMC) operations. This collaboration aims to enhance operational efficiency and drive digital transformation in Vietnam’s maritime sector.

The partnership will leverage M1’s expertise in maritime 5G solutions, VNPT’s 5G network infrastructure, and SSI Solutions’ integration capabilities. The initiative will explore applications such as tele-remote control of equipment, enhanced automated guided vehicle operations, and advanced surveillance systems. These advancements are expected to optimise VIMC’s port operations significantly.

VNPT’s Vice President, Nguyen Nam Long, expressed optimism about the collaboration, highlighting the potential benefits and revenue from 5G technology. Andrew Cheng, M1’s Chief of Enterprise Services, noted the importance of sharing expertise gained from Singapore’s maritime 5G projects to modernise Southeast Asia’s maritime hubs.

In 2022, M1 announced a multi-year project to provide 5G standalone offshore coverage for Singapore’s southern coast, supported by the Maritime and Port Authority and the Infocomm Media Development Authority. This project aims to develop new maritime 5G use cases, contributing to M1’s regional growth strategy.

The partnership marks a significant step in M1’s expansion across Asia, supporting the region’s digital aspirations. By integrating 5G technology, Vietnam’s maritime operations are set to become more efficient and technologically advanced, aligning with global digital transformation trends.
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Etiqa Insurance Singapore is set to return as the Official Travel Insurer for the National Association of Travel Agents Singapore (NATAS) Travel Fair 2025. The event, themed ‘Travel, Explore, Live It!’, will take place at the Singapore Expo from 28 February to 2 March 2025, providing a platform for travellers to explore diverse travel opportunities.

Etiqa is offering exclusive discounts of up to 35% on its Travel Infinite insurance plan, designed to provide comprehensive travel protection tailored to individual needs. This initiative aims to ensure that Singaporean travellers have the necessary coverage for their specific journeys.

Raymond Ong, CEO of Etiqa Insurance Singapore, expressed the company’s commitment to providing peace of mind for travellers. “At Etiqa Insurance Singapore, we believe that every journey should be a worry-free experience, which is why we are proud to offer travellers the peace of mind they deserve with our comprehensive travel insurance plan,” Ong stated.

In addition to the discounts, Etiqa will offer a chance to win $3,000 in travel vouchers to one lucky visitor who purchases a policy at the fair. All customers buying Etiqa’s travel insurance products at the event will also receive a complimentary gift, provided they meet a minimum premium of $50.

This partnership with NATAS underscores Etiqa’s dedication to supporting travellers and enhancing their travel experiences with confidence and security.
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Nippon Yusen Kabushiki Kaisha (NYK) and its consortium have achieved a major milestone in sustainable maritime energy with the Approval-in-Principle (AiP) for their ammonia-fuelled ammonia bunkering vessel. Designed by LMG Marin, a subsidiary of Seatrium, the vessel’s design will now be evaluated by the Maritime and Port Authority of Singapore.

This initiative aims to address the urgent need for decarbonisation in the maritime industry and establish ammonia as a viable marine fuel.

The AiP certification confirms the vessel’s compliance with rigorous safety, technical, and environmental standards, positioning the consortium as leaders in alternative maritime fuels. Tsutomu Yokoyama, Executive Officer at NYK Line, stated, “This Approval-in-Principle represents a critical milestone in our efforts to accelerate the adoption of clean ammonia as a sustainable marine fuel.”

Seatrium’s LMG Marin played a crucial role in the vessel’s design, conducting a Hazard Identification Study (HAZID) to ensure safety and performance. The design includes dual-fuel engines from IHI Power Systems and a bunkering boom by TB Global Technologies, both enhancing safety and reducing greenhouse gas emissions. Aziz Merchant, Executive Vice President at Seatrium, remarked, “We are honoured to contribute to this industry-leading initiative.”

The vessel, intended for use in Singapore, underscores the city-state’s role as a hub for sustainable maritime solutions. If realised, it will be the first of its kind, significantly contributing to Singapore’s marine decarbonisation efforts and influencing the global maritime industry.
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Allianz Asia Pacific has marked a significant milestone with the graduation of 200 agents and agency leaders from its Pinnacle Excellence Programme (PEP), developed in collaboration with INSEAD. This pioneering initiative aims to enhance the skills of Allianz’s agency force, aligning with the company’s Pinnacle 2030 strategy for sustainable growth and improved client engagement.

The inaugural cohort of PEP graduates has already demonstrated impressive results, with a 40% increase in productivity and nearly 40% qualifying for the Million Dollar Round Table, a prestigious benchmark in financial advisory. These achievements have contributed to a 19% rise in New Business Value and an 8% growth in Annualised Premiums for Allianz in the first nine months of 2024.

Notably, the Annualised Premiums per active agent increased by 11%, highlighting the programme’s impact on developing a high-performing, client-focused network.

PEP stands out by integrating academic and practical learning, crafted with input from Allianz’s top agents and leaders across Asia Pacific. The programme includes:
– Blended learning combining case studies, projects, and role-playing.
– Skill modules covering Customer Psychology, Leadership, Communication, and Entrepreneurial Strategies.
– Real-world application to translate classroom learning into practical results.

Anusha Thavarajah, Regional CEO of Allianz Asia Pacific, stated, “The Pinnacle Excellence Programme is a key pillar of our Pinnacle 2030 strategy, designed to elevate our agency force, enhance client engagement, and drive long-term growth.”

This initiative not only transfers knowledge but also shapes the future of financial advisory by equipping agents with essential skills for sustainable success.
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Yangzijiang Financial Holding Ltd. has reported a remarkable 51% increase in net profit for FY2024, reaching S$304.6m. This growth is attributed to strategic portfolio adjustments and a substantial rise in maritime fund assets. The company, listed on the SGX Mainboard, has successfully reduced its exposure to Chinese debt investments, aligning with its diversification strategy.

The maritime fund assets have seen a 150% increase since FY2023, contributing S$57.2m in income, nearly 1.5 times higher year-on-year. The firm has also reduced its China debt investment exposure to 29% of its assets under management (AUM), surpassing its mid-term target. This strategic move is part of Yangzijiang Financial’s efforts to mitigate risks associated with single-country investments.

In addition to these achievements, the board has proposed a final dividend of 3.45 Singapore cents per share, representing a 40% payout ratio and a 6.1% dividend yield. This proposal is subject to approval at the upcoming Annual General Meeting in April 2025.

Yangzijiang Financial’s Executive Chairman and CEO, Ren Yuanlin, expressed satisfaction with the company’s progress, stating, “We are pleased with the progress made in reshaping our portfolio, successfully reducing our exposure to China whilst expanding our presence in high-growth sectors.”

Looking ahead, the company plans to continue refining its sector rotation strategy, focusing on maritime investments and private credit funds in Southeast Asia. This approach aims to enhance resilience and capitalise on global investment opportunities.
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The Institute of Singapore Chartered Accountants (ISCA) has entered into a partnership with Xi’an Jiaotong-Liverpool University (XJTLU) in Suzhou, China, to introduce the Singapore Chartered Accountant Qualification (SCAQ) programme. This collaboration, formalised through a Memorandum of Understanding (MOU), marks ISCA’s first university partnership in China since opening its Nanjing office in November 2024.

Under this agreement, eligible accounting undergraduates from XJTLU’s International Business School Suzhou (IBSS) will receive exemptions for certain subjects in the Foundation Programme (FP) of the SCAQ. Upon completing the FP, students will earn the Professional Business Accountant title, advancing them towards becoming Chartered Accountants of Singapore. Additionally, ISCA will award 20 scholarships annually to the top 5% of students, covering FP fees.

The partnership aims to connect IBSS students with leading companies in China, such as Tencent, DBS China, and PwC China, which are recognised as Accredited Training Organisations by ISCA. This network is expected to expand, enhancing students’ career prospects in the accountancy field.

Professor Jorg Bley, Dean of IBSS, expressed pride in the programme’s accreditation by ISCA, highlighting its global recognition and commitment to developing future-ready accounting professionals. The MOU was signed by Tan Wei Luo, ISCA’s Divisional Director for Qualification Market Growth, and Professor Bley at XJTLU’s Suzhou Industrial Park campus.

ISCA plans to establish Professional Services Centres in 10 cities globally by June, promoting professional services and accounting expertise. Claire Qian, ISCA Chapter Chairperson for Shanghai, emphasised the partnership’s role in nurturing a robust pipeline of accounting professionals to meet China’s business ecosystem needs.
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Traveloka, the prominent travel platform, is celebrating its 13th anniversary with a special Birthday Sale, offering significant discounts and promotions across several countries.

Running from 24 February to 4 March 2025, the sale includes up to 50% off on flights, hotels, and attractions in Indonesia, Singapore, Malaysia, Thailand, and Vietnam. This initiative aims to make travel more accessible and rewarding for its users.

The Birthday Sale features a range of exclusive deals, including special hotel vouchers available throughout the event and an All-Day Flash Sale from 28 February to 2 March. Additional flash sale slots will be available from 12:00 PM to 2:00 PM on 2 March to 4 March. These offers are designed to help travellers maximise their 2025 travel plans with greater ease and flexibility.

Caesar Indra, President of Traveloka, reflected on the company’s journey, stating, “For over a decade, Traveloka has redefined travel—not just in Southeast Asia, but across key global markets, combining deep market expertise, strong industry partnerships, and a commitment to advancing tourism.”

Traveloka’s commitment to innovation is evident in its enhanced Traveloka 5.0 platform, which offers a more intuitive interface and expanded offerings, including Cruise and Tour Packages. The platform also features AI-driven search capabilities and an upgraded Traveloka Points system for greater rewards.

In addition to customer-focused initiatives, Traveloka has partnered with the Global Sustainable Tourism Council (GSTC) to provide sustainability training to over 150 hotels in Southeast Asia. The company also supports digital literacy through its Traveloka Goodwill programme, benefiting over 96,000 individuals in the hospitality and tourism sector.

As Traveloka continues to expand its partnerships with airlines, accommodation providers, and travel activity partners, it remains committed to delivering comprehensive travel solutions and supporting the growth of tourism businesses and local communities.
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