The Business Times
WEALTH ACCUMULATES. ATTENTION DOES
A SENIOR tech executive living in Singapore recently asked us to review retirement and long-term savings accounts he had accumulated earlier in his career. He believed most of the money was invested in equity strategies. It was not. Some of the...
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Financial professional services firms see more Singapore-indonesia work
WHEN growth at home became harder to come by, Indonesian shipowner Sinarmas LDA Maritime (SLM) looked north to Singapore – and brought its adviser with it. The company is ready to spend between US$50 million and US$200 million on acquisitions, with...
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Growth to stay firm, but AI boost to moderate in 2027: MAS
SINGAPORE’S economy is expected to continue expanding in the quarters ahead, though the pace of artificial intelligence-related activity is projected to moderate in the latter half of 2027. In the near term, strong orders for AI products and an...
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Private banks intensify efforts to build local talent bench as wealth sector booms
PRIVATE banks in Singapore are busy hiring relationship managers to meet demand as the Republic’s wealth management sector grows, even as they continue investing in developing existing talent. Swiss private banking giant UBS plans to increase its...
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Senai’s 2nd act: JS-SEZ reshapes Johor’s factory town as Singapore’s industrial ally
Kuala Lumpur SINGAPORE-BASED companies and multinational corporations are increasingly looking to Johor’s Senai as part of an integrated cross-border industrial ecosystem, as the Johor-singapore Special Economic Zone (JS-SEZ) gathers momentum and...
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S-E Asian firms scaling back decarbonisation plans as energy prices bite: survey
CLOSE to eight in 10 businesses in South-east Asia have been hit by higher energy costs since the Iran war began, with a similar proportion experiencing a squeeze on their profitability. This has led to one in two companies in the region delaying...
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WHY THE BIGGEST BUSINESS DECISION ABOUT AI ISN’T WHICH MODEL TO CHOOSE
THE e-mail from your artificial intelligence provider arrives. The model your business has built into its applications is being retired. A replacement is on the way, and there’s enough time to migrate. It all sounds routine. Then your teams start...
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LTA proposes combining car COE categories, adding rebate-surcharge system
THE Land Transport Authority (LTA) is proposing to merge two passenger car Certificate of Entitlement (COE) categories, A and B. This would be implemented alongside a car-value-based fee or rebate system that would help differentiate mass-market and...
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MAS rolls out AI risk management guidelines for financial sector
THE Monetary Authority of Singapore (MAS) has issued new guidelines spelling out supervisory expectations for financial institutions to manage risks arising from artificial intelligence use. The Guidelines on Artificial Intelligence Risk Management...
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70% of Asian families set to transfer wealth, but only half see next gen ready for family office
AROUND seven in 10 high-networth families are set to transfer wealth to their later generations, but only around half think the next generation is prepared to engage with the family office. Hence, families need to spend as much effort developing their...
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Shopping spree: Why investors are after Singapore retail assets
EVEN as more retailers bite the dust, investors have gone shopping – for the malls that house them. Property consultancies estimated that up to S$8 billion in retail assets have changed hands so far this year. Savills’ S$7.9 billion tally of major...
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South-east Asia’s LNG hunger sparks caution over price swings, infrastructure gaps
SOUTH-EAST Asia’s demand for liquefied natural gas (LNG) is expanding even in the wake of the Usiran war, but concerns loom over price volatility and infrastructure gaps, industry players and analysts told The Business Times. Leong Wei Hung, CEO of...
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Heymax challenges the miles game with ‘fly now, earn later’ model
The firm’s Heymax First membership programme will let consumers access miles to redeem flights or book accommodation before “paying” later through everyday spending.
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Poor liquidity? Share 3-5 year plan with investors, Koh Boon Hwee urges listco chairs
BOARD chairs of companies listed on the Singapore Exchange (SGX) must tell the public where they plan to take the company over the next three to five years, and how they intend to get there, said SGX chairman Koh Boon Hwee at the Singapore Institute of...
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Amid pressures for easy policy solutions, economists’ discipline is key: PM Wong
EVEN when faced with mounting pressures to act quickly or pursue easy policy solutions, or given access to advanced tools, Singapore’s economists must maintain discipline and act on economic principles, said Prime Minister Lawrence Wong on Wednesday...
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MAS allocates S$1.45b to five asset managers in third EQDP batch: Chee Hong Tat
THE Monetary Authority of Singapore (MAS) will allocate S$1.45 billion to five asset managers under the latest round of its Equity Market Development Programme (EQDP), taking total allocations under the initiative to S$5.4 billion out of its S$6.5...
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‘My grandfather’s legacy’: Sherman Kwek lays out 3-year plan to drive CDL returns
AFTER nearly a year of scrutinising the sprawling portfolio of City Developments Ltd (CDL), group CEO Sherman Kwek has a clear idea of what the property giant should build on, what it should sell – and where it wants to grow next. For him, the...
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Genting Singapore’s financials are looking up; why is it still losing ground to Marina Bay Sands?
GENTING Singapore’s latest quarterly earnings in August surprised on the upside. But when compared with the other casino operator in the city-state, Marina Bay Sands (MBS), it continues to hold a smaller – and possibly shrinking – slice of the gaming...
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AFTER THE GOLD RUSH: MALAYSIA’S DURIAN INDUSTRY GETS THORNIER
Falling prices force Malaysia’s durian sector to find new value in branding, tech, and waste
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23 financial institutions commit to train 80,000 Singapore staff in AI skills by 2028
THE Institute of Banking and Finance (IBF) is launching an artificial intelligence co-lab with 23 financial institutions (FIS) to assess the impact of AI on skills and jobs, and test and develop practical approaches to training and job...
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Laid-off locals take longer to find work in Q2; job vacancies shrink 6.4%: MOM
RETRENCHMENTS in the second quarter increased by more than previously estimated, even as a lower share of laid-off residents found new jobs, according to figures released by the Ministry of Manpower (MOM) on Monday (Sep 21). Some 4,620 employees were...
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China’s Pinglu Canal likely to benefit Singapore, other S-E Asia ports over time
THE opening of the Pinglu Canal in Guangxi, China is likely to bring benefits to Asean in the long term, although currently the impact is “minimal” on South-east Asia ports including Singapore, observers say. Associate Professor Loh Hui Shan of...
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Addvalue shareholders seek answers on spinoff of unit for Nasdaq listing
The group fielded shareholder questions over financial transparency and the involvement of strategic investors related to its wholly owned subsidiary Addvalue Solutions.
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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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