Singapore

Pony.ai is entering the Singaporean market in partnership with ComfortDelGro to launch autonomous vehicle (AV) services, initially in the Punggol district. This move aligns with Singapore’s smart mobility vision and aims to address driver shortages. The partnership builds on a previous MoU and a successful pilot program in Guangzhou. The Singaporean government supports AV integration, with plans to deploy AVs within public housing estates. Pony.ai currently operates driverless Robotaxi services in multiple Chinese cities and is expanding globally, including partnerships in Qatar and Luxembourg.

Reports surfaced alleging ByteDance dismantled its chip team, transferring operations to a Singaporean entity and cutting system access without severance. ByteDance denies these claims, stating the chip business entity remains unchanged and the action is a routine data migration to a new Lark tenant. CNBC analysis highlights the strategic importance of in-house chip development amid geopolitical tensions. The move to a new tenant could be preparatory for future separation, offering strategic flexibility in complex regulatory environments and potentially proving technological independence critical for valuation in future IPO possibilities.

Interactive Brokers has launched IBKR Lite in Singapore, offering commission-free trading of US stocks and ETFs around the clock. This plan eliminates commissions, platform, and settlement fees, providing Singaporean investors with cost-effective access to US markets. IBKR Lite complements the IBKR Pro plan, allowing clients to choose between the two. Singaporean investors also gain access to global markets, trading in multiple currencies, fractional shares, and AI-powered news. This launch intensifies competition in Singapore’s online brokerage space.

The Global Property Expo, organized by JLL, will be held at the Sands Expo & Convention Centre in Singapore from July 18-20, 2025. This event provides Singaporeans with opportunities to explore international residential properties from over 20 countries. Attendees can access expert-led talks and connect with developers, legal advisors, and mortgage specialists. The expo aims to equip buyers with the knowledge and resources needed for overseas property investment, including insights into market trends, financing, and legal considerations, and residency implications.

KKR has launched Ascend Asia, a new financial advisory platform in Singapore, led by former Prudential Singapore CEO Tomas Urbanec. Ascend Asia acquired finexis advisory, making it the platform’s first member. The initiative aims to elevate financial advisory services in Singapore through enhanced client service, best practices, and strategic resources for member firms.

Singapore is integrating self-driving vehicles into its public transport by late 2025, starting with residential areas. This move follows a visit by Singapore’s transport minister to WeRide, an autonomous driving leader. The partnership aims to accelerate AV deployment and improve connectivity, addressing demographic shifts and labor shortages. Singapore plans to expedite AV adoption over the next five years with WeRide’s support.

Premium Catering reported S$2.23 million in revenue and a net loss of S$1.40 million for the six months ending December 31, 2024. This contrasts with revenues of S$2.83 million and a loss of S$455,890 for the same period in 2023.