Singapore

• Singapore‑headquartered AI‑analytics company NexaAnalytics raised $120 million in a Series B round led by Temasek Holdings on May 8, 2026, valuing the firm at $1.1 billion. • The startup, which specializes in real‑time marketing‑attribution and supply‑chain‑demand‑prediction models for ASEAN retailers, says it will allocate 60% of the capital to expand its GPU‑cluster footprint in Singapore and Malaysia and the rest to R&D and regional hiring. • NexaAnalytics reports current ARR of $49 million, up from $18 million a year ago, with its prediction models deployed across more than 850 enterprise clients including major e‑commerce and logistics networks in Indonesia and Thailand.

• Singapore's Straits Times Index (STI) dropped 20.06 points or 0.4% to close at 4,921.90 on May 8, 2026, amid a broader regional retreat. • Hongkong Land was the worst performer among STI constituents, plunging 5.2% or US$0.45 to US$8.25. • OCBC bucked the trend, rising 0.2% to S$21.92 after reporting a 5% quarterly net profit increase to S$1.97 billion for Q1 ended March 31.

• Singapore's Infocomm Media Development Authority (IMDA) announced on May 8 a major initiative to upskill 40,000 tech professionals over the next three years, including final-year information and digital technologies students, to help them stay current with rapid AI advances. • The program expands the TechSkills Accelerator Programme (TeSA) launched in 2016 and falls under the National AI Impact Programme (NAIIP), with strategic partnerships with industry partners to develop AI fluency courses. • AIxTech, a flagship program created by IMDA and AI Singapore, will equip professionals with technical and responsible AI skills throughout the software engineering life cycle, providing access to AI coding tools like Claude, Codex, and Gemini.

• Disney revealed D23 Asia: The Ultimate Disney Fan Event will debut in Singapore in 2027, following the announcement of Disney Cruise Line's regional launch. • The three-day convention will feature Hollywood stars, storytellers, live showcases, behind-the-scenes presentations, performances, interactive experiences, and exclusive merchandise. • No specific dates, locations, or ticket information have been released yet; updates will come via the Singapore Tourism Board on Instagram.

• A KPMG study indicates Singaporean respondents have grown more reliant on AI tools, leading to positive efficiency improvements. • Usage trends reflect broader adoption in daily tasks, with respondents reporting tangible productivity benefits from AI integration. • The findings underscore Singapore's proactive AI embrace amid national strategies for technological advancement.

• Workers' Party MP He Ting Ru highlighted Singapore as one of the most vulnerable economies to AI disruption during a parliamentary motion on AI transition. • She urged recognition of uncomfortable realities beyond the nation's praised infrastructure and upskilling initiatives. • Singapore's approach, cited by BCG, IMF's Kristalina Georgieva, and others, focuses on confronting AI opportunities and risks through worker reskilling.

• Chinese semiconductor equipment makers CCtech and Nextool Technology are deepening presence in SEA's OSAT centers as Malaysia and Singapore emerge as packaging and testing hubs. • Expansion driven by global supply chain shifts, southbound strategies, surging AI demand, and power electronics growth. • The moves signal a new upcycle for test and packaging equipment amid regional semiconductor boom.

• GXS Bank and MariBank, Singapore's digital banks, posted increased interest income for FY2025 ended in 2025, driven by sustained lending activities. • Both banks are leaning on South-east Asia markets to fuel profitability, expanding beyond Singapore into regional operations. • The growth highlights lending as a core strategy amid competitive digital banking landscape in ASEAN.

• Meta Platforms has acquired Manus, a Singapore-based AI startup, in a $2 billion deal announced on May 7, 2026, focusing on autonomous agents that plan and execute complex tasks. • Manus specializes in agentic AI technology, enabling systems to independently handle multi-step processes without constant human oversight. • The acquisition positions Meta to expand its AI portfolio amid intensifying competition in generative and autonomous AI development globally.

• Echelon Singapore 2026, set for June 3-4, features exhibitors in AI-powered sustainability, cybersecurity, and HR platforms across ASEAN. • Leaders from Singapore, Indonesia, Thailand, and Vietnam will highlight digital transformation initiatives amid regional tech growth. • The event underscores Southeast Asia's rising role in global AI and green tech innovation, drawing investors and startups.

• Singapore has completed a comprehensive review of its political salary framework but deferred any final decision citing impacts from the ongoing Middle East conflict. • The announcement was made by Minister Chan Chun Sing, highlighting caution amid global economic uncertainties affecting the city-state's finances. • This deferral reflects Singapore's policy of linking political remuneration to economic performance and national circumstances during crises.

• One year after the May 2025 Singapore general election, Prime Minister Lawrence Wong's People's Action Party (PAP) evaluates its performance amid global challenges including a Middle East energy crisis. • PAP secured a resounding victory with 65.57% vote share, winning 87 of 97 parliamentary seats, while the Workers' Party retained its 10 seats. • Wong had warned of 'storm clouds' from international conflicts, which have now materialized, testing the new government's policy execution on economic stability and security.

• Spyware detections against Singapore organisations more than doubled in 2025, marking the sharpest increase in the region amid escalating cyber threats. • Southeast Asia recorded an 18% rise in spyware attacks during the same period, indicating a broader regional vulnerability trend. • The surge underscores growing cybersecurity risks for businesses across the region and highlights the need for enhanced defensive measures and threat intelligence.

• Pinecone launched a new cloud region in Singapore to serve the Asia-Pacific market, expanding its AI knowledge infrastructure capabilities across the region. • The Singapore region deployment positions Pinecone as a key provider for enterprise AI applications requiring low-latency data access and localized infrastructure in Southeast Asia. • This expansion reflects growing demand from regional organizations for specialized AI infrastructure and vector database services supporting advanced analytics and machine learning workloads.

• Singapore's Monetary Authority (MAS) met with chief executives of major financial institutions to discuss AI-related cyber threats, prompted by Anthropic's limited release of its Mythos model. • The Cyber Security Agency of Singapore issued a letter urging critical information infrastructure owners to commission board-level reviews of their cyber-risk posture in response to emerging AI security concerns. • The coordinated regulatory response underscores Singapore's proactive stance on managing AI-driven cybersecurity risks in the financial sector and critical infrastructure.

• Singapore hosted a gathering of global leaders at Capella Singapore to examine the economic and policy impacts of artificial intelligence deployment worldwide. • The event focused on how governments and organizations can implement AI responsibly while fostering innovation and maintaining digital competitiveness in their respective markets. • This policy-focused dialogue reflects Singapore's strategic positioning as a regional hub for technology governance and AI ethics discussions in the Asia-Pacific region.

Under new guidelines caning will only be used in schools for male students aged nine and aboveMale school students who bully others, including through cyberbullying, will face caning as a “last resort” under new guidelines introduced in Singapore.Male students can face up to three strokes of the cane under the new rules, which were discussed in parliament on Tuesday. Continue reading...

• Pemerintah Indonesia dan Pemerintah Singapura menandatangani kerja sama untuk memperkuat pembangunan kepemudaan kedua negara di Jakarta. • Kerja sama ini bertujuan menyiapkan generasi pemimpin yang berdaya saing di kancah global melalui program bersama. • Inisiatif ini mendukung agenda ASEAN dalam pengembangan sumber daya muda untuk menghadapi tantangan regional.

• TNI AD dan Tentara AD Singapura mempererat kerja sama strategis di bidang pertahanan pada 5 Mei 2026. • Fokus utama pada penguatan sinergi militer regional untuk menjaga stabilitas ASEAN. • Kerja sama ini bagian dari komitmen bilateral dalam menghadapi ancaman keamanan bersama.

• Singapore retailers are shifting away from traditional points-based loyalty systems toward real-time loyalty models that offer immediate rewards and personalized customer engagement. • The transition reflects changing consumer preferences for instant gratification and data-driven personalization, with retailers leveraging AI and mobile technology to enhance real-time interactions. • Industry analysts view this shift as critical for retail competitiveness in Southeast Asia, where digital adoption rates among consumers continue to accelerate.

• BioNTech revealed plans to close manufacturing sites in Germany and Singapore, impacting up to 1,860 jobs, as it shifts from COVID-19 vaccine production to oncology therapies. • The company, which co-developed the mRNA vaccine Comirnaty with Pfizer, will also repurchase up to $1 billion in shares amid a leadership transition. • This restructuring reflects the post-pandemic decline in demand for COVID vaccines, positioning BioNTech to focus on cancer treatments with greater long-term potential.

• The Financial Action Task Force (FATF) gave Singapore a mixed review on Wednesday, praising its stability but warning of vulnerabilities as a global financial hub. • Singapore's wealth and political stability attract illicit actors seeking to launder funds, prompting FATF to urge stronger oversight measures. • The assessment impacts Singapore's reputation in international finance, potentially affecting banking regulations and cross-border transactions.

• Singaporean semiconductor and electronics firms are accelerating plans to open or expand manufacturing and R&D facilities in the United States, driven by surging global demand for AI chips and US incentives to onshore critical supply chains. • Reports indicate that several Singapore‑listed chip‑assembly and test companies are evaluating sites in Arizona, Texas, and New Mexico, where state and federal subsidies could cover up to 40% of capital expenditure under the US CHIPS Act framework. • Industry executives told local media that geopolitical pressure on Taiwan and China is prompting customers to diversify production away from high‑risk hubs, turning Singapore‑based firms into key intermediaries in global AI hardware networks.

• Singapore's real estate investment volume jumped 364% in the first quarter of 2026 compared to the same period last year, according to CBRE data released today. • The surge reflects strong investor confidence amid regional economic recovery, with total transactions reaching S$4.2 billion across office, retail, and industrial sectors. • This growth underscores Singapore's role as a safe-haven market in Southeast Asia, potentially attracting more foreign capital amid global uncertainties.

• Singapore and New Zealand signed the world's first legally binding bilateral agreement to maintain flows of essential supplies including food, fuel, healthcare products, and construction materials during crises, witnessed by both prime ministers at the Singapore-New Zealand Annual Leaders' Meeting. • The Agreement on Trade in Essential Supplies commits both governments not to impose unnecessary export restrictions on agreed essential goods and establishes a framework for facilitating goods movement and information sharing during supply chain disruptions. • The agreement will be incorporated into the existing free trade agreement between the two countries after domestic procedures are completed, providing businesses and consumers with greater confidence and supply chain stability in the region.

• New Zealand Prime Minister Christopher Luxon is in Singapore to formalize a fuel-for-food arrangement aimed at protecting NZ during crises. • The deal emphasizes trade resilience as security issues overshadow economic interdependence, per Luxon's statements. • It underscores bilateral efforts to navigate global volatility through resource swaps and stronger ties.

• Singapore Prime Minister Lawrence Wong stated that Singapore and New Zealand can collaborate more on AI to become leaders in its deployment. • The proposal came during talks with NZ PM Luxon, focusing on new opportunities in artificial intelligence. • This partnership aims to position both nations at the forefront of AI innovation amid regional tech advancements.

• New Zealand Prime Minister Christopher Luxon and Finance Minister Nicola Willis arrived in Singapore for high-level talks on trade and security. • TVNZ political editor Maiki Sherman was excluded from the press pack following her five-day suspension from parliament over an incident involving banging on a National MP's door. • The suspension stemmed from allegations of aggressive behavior toward National whip Stuart Smith during Luxon's caucus confidence vote, investigated by Speaker Gerry Brownlee.