The Business Times
Private-bank onboarding time still an issue despite Singapore’s push for speed
THE drawn-out process of privatebank onboarding remains a key bottleneck for Singapore’s wealthy, industry participants have said, even as the authorities push to cut account-opening times for the ultra-high-net-worth to under a month. In May, the...
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US ‘transshipment scam’ report may tighten trade measures in Singapore: economists
AFTER being flagged in a US report on China’s “shadow transshipment network”, Singapore may be expected to take tougher measures on potential trade fraud, said economists. “Singapore may be asked to tighten measures to enforce rules of origin and step...
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Comfortdelgro H1 profit falls 19.7%; focuses on long-term transformation
Earnings drop was despite an increase in revenue, which rose 5.7 per cent to S$2.6 billion, from S$2.4 billion. H1 operating profit for its public transport segment rose 4 per cent to S$79.7 million.
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CDL reports trebling of earnings on quicker sales, profit recognition of Singapore projects
PROPERTY developer City Developments Ltd (CDL) saw its first half net profit treble to S$301.6 million, buoyed by strong development revenue, ahead of a strategic review of its group businesses. At its earnings briefing on Wednesday (Aug 13), CDL...
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MAS eases family office tax rules, widens AML checks as Singapore eyes global wealth
The Monetary Authority of Singapore (MAS) has made it simpler for family offices to qualify for tax incentives, easing hiring and investment requirements even as it tightens scrutiny over the sources of their wealth. Industry watchers told The...
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AI boom prompts economists to lift 2026 growth forecasts beyond MTI’S upgraded range
PRIVATE-SECTOR economists have raised their full-year growth forecast for Singapore, after the official forecast was raised to 4.5 to 5.5 per cent, from 2 to 4 per cent previously – with at least one bank’s revised forecast sitting above the top end of...
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Penang looks beyond chips boom with push for high-value medtech investments
Kuala Lumpur WHILE Penang is riding a fresh semiconductor boom fuelled by artificial intelligence, its decades-old medical technology cluster is stepping out of the shadow of the much larger chip sector, as the state seeks to diversify its...
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HKEX offers deeper capital pools to primary, secondary listings from S-E Asia
WHEN Indonesian miner Merdeka Gold Resources secured a secondary listing in Hong Kong in June, it underlined the message that the Hong Kong Exchanges and Clearing (HKEX) has been making to Southeast Asia – a listing in Hong Kong is meant to complement,...
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OCBC raises 2026 loan growth forecast after Q2 profit jumps 22%
The bank on Friday (Aug 7) posted a record S$2.22 billion net profit for the quarter. It now expects loan growth of high-single to low-double digits, as well as year-on-year total income growth.
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DBS raises 2026 guidance as wealth business powers growth in Q2
DBS has raised its full-year guidance after record earnings in the first half, betting that strong momentum in wealth management and other fee-generating businesses will help offset pressure from lower interest rates. CEO Tan Su Shan said the bank’s...
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UOB to sell asset management arm to Allianz Global Investors for S$555m
UOB is exiting the fund manufacturing business, selling its asset management arm to Allianz Global Investors (Allianzgi) for S$555 million as it moves towards an open-architecture wealth model focused on advisory and product distribution. Excluding...
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Proposed en bloc reforms could bring ageing estates, commercial sites back to the market
AGEING developments sitting on huge sites that have struggled to secure owner support could get a fresh shot at redevelopment under proposed changes to Singapore’s collective sales regime. For strata-titled commercial buildings in particular, the...
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Firmer rates, loan growth and wealth gains seen lifting Singapore banks’ Q2 results
SINGAPORE’S banks are expected to report resilient second-quarter earnings this week, buoyed by higher interest rates, robust loan growth and strong wealth management income. Investors will be watching for signs that pressure on net interest margins...
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Glide-path portfolios for CPF attract 25 proposals from interested offerors
COMPETITION to offer glide-path portfolios is keen as several parties, including large asset managers and financial institutions, are understood to have submitted proposals to the Central Provident Fund (CPF). The CPF Board said its call for...
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Singapore manufacturers, services remain upbeat on 6-month outlook
A weighted 24 per cent of manufacturers expect conditions to improve from the second quarter, while 12 per cent anticipated weaker conditions, according to an EDB survey.
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More office buildings lined up for sale ahead of impending Marina One deal
STRONG investment sales in Singapore’s office market is likely to continue in the second half of this year, on the back of at least one impending mega deal – Marina One – as well as more properties being put on the market. The latest data from JLL...
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Taiwan’s ultra-wealthy turn to Singapore for succession, regional expansion
TAIWANESE ultra-high-net-worth (UHNW) clients are increasingly turning to Singapore not just to preserve wealth, but also to expand internationally and prepare the next generation to take over their fortunes, according to wealth managers and...
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Residential en bloc sales get nudge with extended ABSD deadline, but high asking price still a big hurdle
A LONGER runway for construction and sales of mega en bloc redevelopments will put large collective sale sites back on developers’ radar, but price – not time – will still make or break deals, property players said. Starting Wednesday (Jul 29),...
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Economists see more monetary tightening ahead, as early as October, after July’s move
THE Monetary Authority of Singapore (MAS) could move again as early as October, after a modest “very slight” tightening move on Monday (Jul 27), say private-sector economists. The central bank steepened the slope of the Singapore dollar nominal...
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Investors home in on Singapore and Hong Kong in US$13.8B Apac living sector boom
INSTITUTIONAL interest is building in Singapore co-living and Hong Kong student housing, as a boom in Asia-pacific’s (Apac) living sector extends beyond Japan and Australia, drawing capital from the likes of PGIM and Blackrock. Investment in the...
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US forced labour tariff impact on Singapore economy likely contained
Economists said exemptions for semiconductors and other key products are expected to cushion the blow. About a third of domestic exports to the US will be subject to the new tariff.
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GIC posts lower 3.4% 20-year annualised real rate of return
SOVEREIGN wealth fund GIC reported an annualised rolling 20year real rate of return of 3.4 per cent for its latest period ended Mar 31, 2026. The return – which accounts for inflation and spans the 20-year period from April 2006 to March 2026 – is...
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Cabinet reshuffle: Shanmugam named Senior Minister; Jeffrey Siow, David Neo, Sim Ann promoted to ministers
PRIME Minister Lawrence Wong on Wednesday (Jul 22) announced a wide-ranging Cabinet reshuffle with numerous changes to ministerial portfolios, promotions and new political office appointments, including that of K Shanmugam as Senior Minister. The...
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‘Positive surprises’ in store for S-reits’ H1 earnings as valuations lag fundamentals
THE upcoming earnings season for Singapore-listed real estate investment trusts (S-reits) could deliver “positive surprises”, particularly from the office and industrial sectors, said analysts. This is despite S-reits entering the first-half reporting...
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New Batam-singapore subsea cable to boost digital ties ahead of Asean framework pact
THE successful landing of the Nongsa-changi subsea cable in Batam is expected to open up fresh opportunities for Singapore, Indonesia and the wider South-east Asia region, said Singapore’s Deputy Prime Minister Gan Kim Yong on Monday (Jul 20). This is...
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Mall owners reposition shopping centres as consumer landscape evolves
MAJOR mall owners are embarking on a new wave of asset enhancement initiatives (AEIS), pouring hundreds of millions of dollars into repositioning their malls to map shifting consumer tastes and improve returns. The revamps bring a fresh round of...
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Most buyers of million-dollar HDB flats paid no COV in 2025: Propnex
The group said demand for such flats is underpinned by factors such as “changing lifestyle preferences, stronger household affluence, and shifting housing priorities across different life stages”.
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Coal dominance, fiscal constraints to temper S-E Asia’s clean energy boom
EVEN as South-east Asia hit a record in renewable energy investments last year, the region’s reliance on coal and fiscal constraints remain key obstacles to achieving a clean energy transition. South-east Asia invested US$17 billion in renewable...
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DBS targets S$1t in AUM by 2030 as it steps up AI, hiring push
DBS is looking to accumulate more than S$1 trillion in assets under management (AUM) across its retail and wealth segments by 2030, as it doubles down on artificial intelligence, partnerships and regional expansion to capture Asia’s growing wealth. To...
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MAS grant backs 85 SGX debuts since 2019 as Singapore steps up equity market revival
A LISTING grant administered by the Monetary Authority of Singapore (MAS) has supported 85 listings here since its launch in 2019, based on figures disclosed for the first time by the financial regulator. This includes 12 mainboard listings in 2025...
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DBS market cap crosses S$200b as earnings optimism drives Singapore bank rally
SHARES of Singapore’s three local banks have surged to record levels over the past week, helping lift the Straits Times Index (STI) to a fresh high and pushing DBS above S$200 billion in market capitalisation on Monday (Jul 13) – making it the first...
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Singapore banks’ battle for wealth talent goes beyond private bankers
SINGAPORE’S wealth management hiring race is spreading beyond private bankers, as demand increasingly spills over into technology, investment, compliance and risk roles that support their expanding client-facing teams. Still, competition for...
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Italian aristocrat sells pair of Neil Road shophouses for S$40.88m
The amalgamated property, at 136 and 138 Neil Road, is home to the Goethe-institut in Singapore. The new owner is understood to be a wholly owned subsidiary of Aw & Sons Capital.
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New MAS proposal could pave way for innovative funds for retail investors
RETAIL investors in Singapore could gain access to futures-based single-commodity funds and a wider range of single-country government bond funds, with the Monetary Authority of Singapore (MAS) on Thursday (Jul 9) outlining a proposal for a more...
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From Anthropic to Zegna: the A-to-z of Temasek’s strategies in ‘polycrisis’ world
STATE investment firm Temasek is moving to position itself at the forefront of the artificial intelligence revolution and the global consumer rebound, amid geopolitical headwinds and a rapidly shifting macroeconomic landscape. Demonstrating this...
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MAS proposes new corporate structure to grow alternative risk transfer market
THE Monetary Authority of Singapore (MAS) has proposed a new corporate structure designed to make alternative risk transfer solutions more accessible and cost-effective for companies, as it seeks to strengthen Singapore’s role as a regional risk...
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Singapore and Indonesia seek closer energy and sustainability cooperation
Jakarta SINGAPORE and Indonesia will do more together in energy and sustainability, with carbon credits, renewable energy and cross-border electricity projects identified as areas for future cooperation. By working together, both countries can create...
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Takeover code: Dealmakers welcome targeted guidance on deal protection
SINGAPORE’S revised takeover code is expected to strengthen governance and competition in merger and acquisition (M&A) transactions without making deals harder to execute, lawyers and corporate finance advisers said. Rather than impose a blanket ban...
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New opportunities for Singapore as Timor-leste diversifies economy
PM Lawrence Wong says Singapore businesses can tap emerging prospects as Timor-leste moves away from oil and towards tourism and the blue economy.
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IHH partners some Integrated Shield insurers to rein in private hospital bills
A PARTNERSHIP between IHH Healthcare and some Integrated Shield Plan (IP) insurers could well be a way to rein in escalating costs and claims from private hospital IPS. The partnership taps the services of iexchange, the third-party administrator...
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OCBC rolls out Ai-native banking, to hire 600 relationship managers in wealth push
OCBC is going big on artificial intelligence even as it increases its human advisers in a bid to deepen its wealth push. South-east Asia’s second-largest bank is launching an Ai-native app for its wealth customers that features digital avatars that...
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Early payout from Philippines sovereign fund raises eyebrows over its true nature
Manila THE Philippines’ Maharlika Investment Fund, barely three years after its creation, has handed the government an early fiscal win with a higher-than-expected dividend payout. But the transfer exposes a bigger question: is the country’s first...
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State polls a speed bump as RTS, JS-SEZ accelerate shifts in Johor’s property market
Kuala Lumpur JOHOR’S property market is being reshaped by factories, data centres and the Johor-singapore Special Economic Zone (JS-SEZ), shifting the state away from the residential speculation that has long defined its real estate story. But with...
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Expanded cash access not seen as a retreat from Singapore’s digital payments push
THE Republic’s move to expand cash access does not signal a retreat from becoming a cash-light society, observers said, but reflects a growing recognition that financial inclusion remains essential as the country upgrades its payments...
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Morgan Stanley sees US$5.5T Asia energy investment boom
The bank says the region is on the cusp of a supercycle over the next five years as companies and governments ramp up spending to bolster energy security and meet Ai-driven power needs.
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Valley Point could be hidden gem in Frasers Property’s S$2.1b ‘asset-light’ proposal
REAL estate giant Frasers Property’s strategic review, which has dragged on for well over two years, has finally culminated in a S$2.1 billion game of asset musical chairs. Controlled by the family of Thai billionaire Charoen Sirivadhanabhakdi, the...
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Singapore tech unfazed by global sell-off on low AI exposure, supportive macro data
TECHNOLOGY stocks in Singapore are avoiding a global sell-off thanks to lower exposure to crowded artificial intelligence trades and supportive domestic macroeconomics. Tech stocks such as AEM Holdings, Frencken and UMS Integration were in flux on...
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MAS likely to hold in July as May core inflation undershoots forecasts: economists
THE Monetary Authority of Singapore (MAS) is likely to hold monetary policy settings steady at its July meeting, private-sector economists said on Tuesday (Jun 23), after core inflation held at 1.4 per cent in May, defying forecasts of an...
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Chasing global capital: South-east Asia markets turn to ‘value up’ reforms
Kuala Lumpur SOUTH-EAST Asian stock markets in Singapore, Thailand and Malaysia are stepping up efforts to close valuation discounts and win more capital. This comes as Asia’s private wealth grows and investors place a rising premium on stronger...
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Great Eastern goes on the high-net-worth offensive, but don’t call it a pivot
SITTING in Great Eastern’s swanky new Hewton Fair Suite – an exclusive space within the Great Eastern Centre designed for servicing highnet-worth clients – there is a distinct note of fresh coffee and quiet ambition in the room. For 118 years, Great...
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Can Vietnam’s SMES survive a three-front compliance squeeze?
A tougher intellectual property crackdown, driven by the US’ Vietnamspecific trade probe, is now unfolding alongside wider tax reforms and a closer scrutiny of origin rules.
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Singapore firms must show net-zero progress under revised standards
A MAJOR overhaul of the world’s most widely recognised corporate net-zero framework is expected to put Singapore companies under greater pressure to demonstrate how they will deliver on their climate commitments. Under the revised standard from the...
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Singapore to advance AI agenda as 2027 Asean chair, focus on cross-border data
Jakarta WHEN Singapore assumes the chairmanship of Asean in 2027, it will advance several shared artificial intelligence priorities centred around encouraging better adoption across sectors and investing more in shared digital public goods. The nation...
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Singapore banks may need to address indirect exposure to captive coal in their financing policies
SINGAPORE lenders may need to review their overall coal financing policies to clarify how they treat captive coal, and provide granular disclosures on this front as they face increasing scrutiny over their exposure to the energy source. This is not...
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Singapore to establish OTC gold clearing system, central bank vaulting by end-2026
AN OVER-THE-COUNTER (OTC) gold clearing system is among initiatives that will be rolled out this year to boost Singapore’s role as a trusted global node for capital, investment and physical trade flows. DBS, Deutsche Bank, ICBC Standard Bank,...
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Weighing the ins and outs of retaining Orchard Road’s cachet and its future
AT FIRST glance, there is little to suggest that Singapore’s premier retail belt Orchard Road is losing its shine. Home to luxury-brand flagships and some of the city’s top-performing retail assets, the shopping street continues to attract high foot...
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Citi sees Asian clients seeking more trade finance, risk support
This comes as as the Middle East conflict – which shows signs of being prolonged – strains energy supply chains, pushes up costs and forces some buyers to look beyond long-standing suppliers.
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Singapore boutique fund investing big in SGX small-caps finds its Fantastic 4
A GLOBAL equity fund has been steadily building positions in Singapore-listed small-cap stocks, with recent investments in Marco Polo Marine, Nam Cheong, OKP Holdings and Oiltek International. The fund made headlines in June 2026 after emerging as a...
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Tech rout sweeps Asia as overheating worries over AI rally spark sell-off
A ROTATION out of technology stocks swept through Asian markets on Monday (Jun 8), as investors grew concerned that the artificial intelligence-driven rally may have run ahead of fundamentals. The sell-off was particularly severe in South Korea, where...
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Up to 11 condo projects with 3,550 units launching in H2 as price ceilings emerge
SOME 3,550 new private homes could come to market in the second half of 2026, starting with four projects totalling 1,679 units slated for July, testing buyer appetite after a strong start to the year. The next wave of launches is expected to push...
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Lian Beng Group’s Ong family members pick up two Belmont Road bungalows
The separate deals totalling S$60 million for pair of freehold properties with a total land area of 41,741 sq ft is one of the biggest for a transaction in a GCB Area this year; price works out to about S$1,437 psf.
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‘No evidence’ of forced labour links; proposed 12.5% tariff could affect one-third of exports: MTI
A PROPOSED 12.5 per cent tariff by the Office of the United States Trade Representative (USTR) on Singapore would apply to about one-third of the Republic’s exports to the US, after accounting for a range of product exemptions, a Ministry of Trade and...
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Geopolitical risks a key consideration when investing in tech firms: Temasek chairman
WHILE Temasek Holdings is “quite forward-leaning” when it comes to its investments in technology, the many geopolitical risks facing the world today are top of mind before any major decision is made. Teo Chee Hean, the former Cabinet minister who...
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Fund managers see encouraging response to Singapore’s S$6.5b equity push
FUND managers under the Monetary Authority of Singapore’s (MAS) S$6.5 billion Equity Market Development Programme (EQDP) have seen an encouraging response from investors despite heightened global uncertainty and market volatility. The programme was...
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‘Capital guaranteed’ label for investmentlinked policies misleading: MAS, LIA
THE Monetary Authority of Singapore (MAS) and Life Insurance Association (LIA) have issued stern warnings against the use of the descriptor “capital guaranteed” for investment-linked policies (ILPS), in their latest effort to stamp out such...
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Singapore races to get ahead of Hong Kong, Dubai as wealth wars intensify
AS THE battle for Asia’s ultra-rich gets more heated, Singapore is moving to sharpen its edge as a leading wealth hub by tackling a growing pain point among wealthy clients and family offices: lengthy onboarding processes. The Monetary Authority of...
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Shanda co-founder sells Tanglin Hill bungalow for S$76m
The bungalow’s transacted price works out to about S$3,169 psf on the freehold land area of 23,979 sq ft. The two-storey house is located within the Ridley Park Good Class Bungalow Area.
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Sgx-listed palm oil players under pressure as Indonesia’s export overhaul stokes fears
SHARES of Singapore Exchange (Sgx)-listed palm oil players have come under pressure after Indonesia unveiled plans to centralise exports of key natural resources through a state-owned enterprise. The move has raised fresh concerns over policy risks...
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BOS doubles down on the ultra-wealthy – and the bankers chasing them
IF IT takes the same effort to serve a US$100 million client as a US$10 million one, then why not go bigger? That blunt calculation is shaping the next phase of growth at Bank of Singapore (BOS), where chief executive officer Jason Moo is sharpening...
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As India and China surge ahead with nuclear energy, all eyes on Asean’s next move
THIS is shaping up to be a banner year for nuclear energy in Asia, as India and China ramp up additions and energy security fears from the Middle East war further fuel Southeast Asia’s exploration of the power source. Earlier this month, Singapore...
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Indonesia leads Asean in AI adoption as demand for sovereign models rises: survey
INDONESIA is aggressively positioning itself as South-east Asia’s artificial intelligence pacesetter, with businesses planning to proactively invest in multiple AI capabilities. Just over six in 10 of the country’s companies (62 per cent) were...
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What will power growth amid uncertainty? Business leaders say answer lies close to home
ASEAN businesses are looking closer to home for growth and investment opportunities amid global volatility and trade tensions. They are consolidating their growth regionally by reallocating capital and supply chains in Southeast Asia where they see...
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Cenbanks need ‘heightened vigilance’ over risks amid Middle East conflict
MAS chief economist Edward Robinson cautions risk is amplified in small, open economies, where energy costs pass through to wages and other prices more quickly.
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Singtel seeks clarity from regulators on taking part in telco consolidation
SINGTEL is “seeking clarification” from the regulators on its ability to participate in the consolidation of Singapore’s telecommunications space, in the wake of news that the proposed sale of M1 to Simba Telecom has collapsed. “We have always been...
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Openai picks Singapore for first Applied AI Lab outside US in S$300m investment
CHATGPT creator Openai will open its first Applied AI Lab outside the US in Singapore and hire more than 200 specialised artificial intelligence professionals over the next few years as part of a S$300 million investment in the Republic. The move...
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