The Business Times
Fed hike throws Singapore banks a margin lifeline; UOB likely to benefit more
THE US Federal Reserve’s return to rate hikes could begin reversing one of the biggest earnings headwinds facing Singapore’s banks, although analysts expect the benefits to become more meaningful only in 2027. Higher Singapore dollar rates should...
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Singapore’s wealth boom is raising the bar for aspiring private bankers
SINGAPORE’S growing wealth-management sector is raising the bar for aspiring private bankers, as employers seek skills that go well beyond traditional investment knowledge. Artificial intelligence, relationship management and an understanding of...
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As Malaysia’s chip goals morph into multistate model, are they outgrowing Penang?
Kuala Lumpur WHEN AT&S, one of the world’s leading manufacturers of advanced circuit boards and integrated circuit (IC) substrates, was considering Malaysia for its next-generation substrate plant in 2020, Penang seemed to be the natural choice. There...
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Singapore bond issuance hits record US$95B in 2025, up 21.8%: MAS
SINGAPORE’S bond market issuance jumped 21.8 per cent year on year to a record US$95 billion in 2025, driven by refinancing needs and regional demand for capital for artificial intelligence, technology and infrastructure. The figure, which covers...
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Indonesia’s renewable energy edge tested in race for data-centre and AI investment
Jakarta INDONESIA’S vast land-mass and proximity to the equator give it nearly 4,000 gigawatts (GW) of renewable-energy potential, an advantage unmatched in South-east Asia. Yet, gaps in grid infrastructure, questions over bankability of...
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True Fitness, True Yoga close all outlets; winding-up process begins
Parent company Kontafarma China Holdings cited fierce competition and rising customer acquisition costs for the closure. For the eight months ended Aug 31, it recorded a loss of HK$19.1M.
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Singapore data centre Reits chase Japan deals as power crunch raises stakes
SINGAPORE-LISTED data centre real estate investment trusts (Reits) are stepping up their bets on Japan, as surging demand for computing capacity intensifies competition for scarce power-ready assets. Keppel DC Reit in September proposed to acquire two...
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Commodity-finance risks back in focus amid Radiant World scrutiny
THE scrutiny surrounding iron ore trader Radiant World has put commodity-finance risks back in focus, with industry watchers pointing to broader vulnerabilities that digital safeguards cannot fully address. This is despite Singapore strengthening its...
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Singapore ‘must act now’ on political salaries amid leadership renewal challenge: PM Wong
SINGAPORE will raise political salaries for the first time since 2012, with Prime Minister Lawrence Wong saying on Tuesday (Sep 8) that the country “must act now” as it faces the challenge of recruiting and renewing its political leadership. Speaking...
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Singapore banks court younger customers as more climb wealth ladder
MORE younger customers are moving up the wealth ladder as they start investing sooner, prompting Singapore banks to court them earlier in their financial journeys. Greater financial literacy and easier access to investing are driving this shift, with...
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Beijing’s tax crackdown tests wealthy Chinese property buyers in Singapore
CHINA’S tightening grip on offshore wealth may be forcing wealthy Chinese to rethink how – and where – they hold their assets, with Singapore property bought under trust structures especially under scrutiny. While the ultra-rich may now be...
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Industry chief Danny Loong wants to bring back Singapore nightlife’s energy
The nightlife sector is in difficult straits; a Singapore Nighttime Business Association white paper examines challenges facing the traditional sector and proposes ways to develop a broader night-time economy.
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Tough to find talent with both finance and tech skills, say Singapore’s fintechs
AS SINGAPORE moves to strengthen its fintech talent pipeline, market players and observers have flagged a persistent challenge: a lack of experienced professionals with expertise in both technology and finance. The need for multidisciplinary...
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Economists raise Singapore 2026 growth forecast to 5%; AI bubble seen as a top risk
PRIVATE-SECTOR economists have raised their 2026 growth projections for the Republic to 5 per cent, from 3.5 per cent previously. The median forecast in the Monetary Authority of Singapore’s (MAS) latest quarterly survey of professional forecasters is...
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As China trust-tax deadline looms, wealthy clients explore options across Asia
ONE month after China tightened its tax rules on offshore trusts, wealthy Chinese are racing to assess their tax exposure and rethink cross-border structures, sending ripples across Singapore and the region’s wealth management industry ahead of an...
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MAS targets frontier tech and talent with S$220m investment in fintech innovation
SINGAPORE will invest S$220 million over three years to boost the fintech ecosystem, as part of the next tranche of the Financial Sector Technology and Innovation (FSTI) scheme. The fourth tranche of the scheme will be implemented through six tracks...
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After deposits, credit cards are the next battleground for Singapore digital banks
WITH all three of Singapore’s digital banks now offering credit cards, the battle is shifting from simply acquiring customers to capturing more of their everyday spending – and the valuable data that comes with it. GXS Bank became the latest to join...
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Australia stock exchange eyes S-E Asia for listings, Singapore for capital
NSX’S ambitions come as public markets in Australia and elsewhere face a broader challenge from abundant private capital, which is giving companies fewer reasons to list, or remain listed.
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Singapore plays premium data centre game as Johor, Batam take on scale
SINGAPORE is carving out a premium role in the region’s data centre boom, prioritising higher-value and resource-efficient workloads rather than competing with neighbouring Johor and Batam on capacity, analysts said. With land and power at a premium,...
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Singapore’s asset management push faces next test as industry seeks speed, clarity
GREATER clarity, speed and workable rules are among requests that industry players have in Singapore’s latest push to boost its asset management landscape, as they await crucial details on who qualifies and how the schemes work. The measures have been...
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Family offices cheer lifting of precious metals cap, but do not expect a gold rush
WHEN gold prices hit a record high of around US$5,500 an ounce in January, certain family offices and fund managers were forced to reduce their holdings in order to continue enjoying tax incentives. Since Aug 1, they have no longer faced such a...
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Anchoring leaders, nurturing locals seen as key to keeping Singapore’s competitiveness
AS TAX advantages narrow across competing financial hubs, Singapore’s true competitive edge will depend on more than drawing capital – it will need to anchor the decision-makers who manage and allocate it, said hedge funds and industry...
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A bold push to ensure Singapore can rise to every challenge in an uncertain future
A RESET of marriage and parenthood policies took centre stage at this year’s National Day Rally on Sunday (Aug 23), alongside plans on how Singapore intends to harness the advances of artificial intelligence while guarding against its risks. Prime...
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Gen Z couple takes on Singapore’s established bullion dealers
Big Bullion, co-founded by Ian Chan and Charmaine Chua, has two key business segments: the sale of gold and silver, and the buying back of jewellery to be refined into investment-grade bars.
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Singapore telco price war squeezes earnings, strengthens case for Starhub-m1 deal: analysts
WEAKENING local mobile-service revenue and mounting earnings pressure at Starhub and Singtel Singapore are strengthening the case for consolidation in the intensely competitive domestic market, said analysts. For the incumbent telco operators to...
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Singapore could gain edge with broader asset management push as HK tax gap narrows
SINGAPORE could gain an edge over Hong Kong in the race to become the region’s leading asset management hub, in the wake of the Republic’s unveiling of a broader set of measures that complement efforts to narrow the tax gap between the two markets,...
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‘SGX needs to be better understood,’ says CEO Loh Boon Chye
STEERING the local bourse through a once-in-a-generation equitiesmarket revival ought to be a thoroughly enjoyable victory lap. Yet, for Singapore Exchange (SGX) chief executive Loh Boon Chye, the triumph is clouded by familiar gripes. Securities’...
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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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