AGP Executive Report

AI & Markets: CNA reports AI-linked stocks are whipsawing from Wall Street to Seoul as investors question whether massive AI spending will pay off, with valuations and interest-rate worries driving sharp swings. Cybersecurity & Identity: Singapore expands passkeys on Singpass from July 1 to make phishing harder, aiming to cut losses from fake login pages and QR-code scams. Healthcare AI: National Heart Centre Singapore’s CARDIA-GM can analyse heart-attack MRI scans in under a minute with 95% accuracy, speeding up assessment of scar tissue and microvascular obstruction. Local Tech & Security: Singapore’s online safety push continues alongside scam crackdowns, while Extron AV upgrades a mosque’s 4K streaming and recording setup for smoother worship operations. Science & Bioengineering: NTU-backed “cyborg cockroaches” use a diving suit to breathe underwater for up to three hours, pointing to future rescue and inspection missions in hazardous environments. Singapore Business: Foundation Healthcare sets IPO details in Singapore, raising about S$242m at S$0.76 per share. Regional Tech Infrastructure: Tata Communications boosts the India–Singapore digital corridor with new subsea cable capacity and AI-ready connectivity investments.

AI Governance Push: UN and ITU are convening the AI for Good Global Commission in Geneva on July 8, bringing together top AI builders and heads of state (including Singapore’s policymakers) to shape global rules as regulation fragments. Cybersecurity Warning: A new study says ransomware and other intrusions are staying hidden for weeks, with nearly half of firms only noticing after data is stolen—highlighting the need for faster detection and less alert fatigue. Banking AI Rollout: OCBC plans to lift annual tech spending above $771m as it embeds AI and data across customer journeys, while Jamf launches native AI Governance for Mac fleets to give IT teams visibility and audit-ready controls. Fintech & Payments: Visa and Stripe join 100+ partners to launch Open USD, an open stablecoin that businesses can mint and redeem with shared governance. Singapore Tech & Industry: Changi General Hospital becomes Singapore’s first desflurane-free hospital, cutting major surgical greenhouse gas emissions. Maritime & Defence: Penguin Shipyard delivered the first composite superstructure for Singapore’s MRCV, using Saab tech to reduce weight and radar signature. Health Tech: Urteste’s Panuri urine-based pancreatic cancer test gets a US patent, expanding its protected footprint. Regional Tech Infrastructure: Vocus plans Australia’s first ducted long-haul fiber route (Sydney–Melbourne) to meet AI-driven capacity demand.

AI Robotics & Disaster Response: NTU Singapore and Waseda University unveiled 3D-printed “diving suits” for cyborg cockroaches, adding an oxygen generator so the insects can survive underwater for up to three hours—aimed at search-and-rescue in flooded rubble. AI Infrastructure & Data Centres: A “hyperscale” data centre campus called Project Ares is proposed for Australia’s Northern Territory, banking on low-latency links to Asia as AI and cloud demand strains hubs like Singapore. Singapore Digital Identity: Singpass is rolling out passkey logins secured by device biometrics from July 1, designed to cut phishing and make government sign-ins harder to compromise. AI Agents on the Web: Singapore startup BrowserAct hit Product Hunt’s weekly Top 3, pitching a more reliable “real web” layer for AI agents that need session continuity and human handoff. Circular Economy Tech: SK tes, with Singapore EDB support, is partnering with Aubotic Technology to automate e-waste processing for safer, higher-recovery robotics. Regional AI Expansion: Indonesia’s Batam is positioning itself as an AI infrastructure hub via Firmus Technologies and Nvidia’s DSX AI Factory, targeting major GPU deployment from 2027. Cybersecurity: Singapore-relevant SystemBC malware (Coroxy) is being used as a SOCKS5 proxy/backdoor to tunnel traffic and maintain access inside compromised networks.

Cybersecurity & Digital Identity: Singpass will roll out passkey logins from Jul 1, starting with iPhone users, to cut phishing-linked losses (nearly S$40m last year) by using device-bound keys that can’t be used on fake sites. AI in Enterprise: Accenture hires StanChart’s former global AI enablement chief David Hardoon as Southeast Asia head of advanced AI, signalling demand for AI governance and deployment leadership. Public Safety & Enforcement: Singapore arrests four men over a suspected transnational Kpod vape syndicate allegedly supplying etomidate-laced pods, with 1,111 pods seized and HSA calling it the first probe under the tougher Tobacco and Vaporisers Control Act. Regional Tech & Infrastructure: Sarawak is factoring data centre water needs into its long-term water planning, including new treatment plants under its Water Master Plan and Water Grid System. Shipping & Testing: Veritas Petroleum Services opens a new marine fuel testing lab in Shanghai to speed up bunker fuel quality checks across Asia-Pacific, including methanol. Fintech Expansion: India’s UPI goes live in Greece via Eurobank and NIPL, pushing instant, low-cost cross-border transfers to more countries. Markets Watch: Bursa Malaysia ends H1 2026 softer on cautious sentiment, while Singapore’s STI slips as investors weigh global tech jitters.

AI Restructuring: British American Tobacco is cutting 9,000 jobs under its Fit2Win transformation, aiming for about £600m in annual savings by end-2028, with many roles shifted to partners like Accenture rather than outright elimination. Biotech Expansion: WuXi Biologics has resumed construction of its Worcester facility, targeting completion in 2028 after a 2024 pause tied to US security scrutiny. Fintech + AI: Airwallex raised $320m, saying it will push AI-based financial software and expand payments and regulatory reach, including new products for bookkeeping, forecasting and compliance. Digital Identity Security: Czech firm Wultra raised €6.8m to scale phishing-resistant, post-quantum digital identity and grow its EUDI Wallet capabilities, with Singapore as a regional hub. AI Infrastructure in the region: Firmus and Nvidia plan a 360MW AI data centre campus in Batam, near Singapore, targeting large-scale accelerator deployment and multi-tenant AI-native customers. Local Science & Tech: NTU researchers developed 3D-printed “scuba” suits for cyborg cockroaches to breathe underwater for up to three hours, with potential for search-and-rescue exploration. Singapore Policy Tech: Singapore’s Online Safety Commission is set to support victims of digital harm, reflecting a broader push for safer online spaces. Health Research: A study reports psilocybin may significantly improve symptoms in Alzheimer’s, adding to growing interest in psychedelic therapies.

AI Governance in ASEAN: A new look at the Philippines’ AI rules highlights how ASEAN guidance exists but stays non-binding, leaving protections uneven as agencies overlap and countries set different standards. Singapore Fintech Push: MAS opened the 2026 Global Fintech Hackcelerator and SFF Fintech Excellence Awards call, asking fintechs to use AI for credit, fraud risk, and SME risk tools. SAF for Jurong Island: KBR will license PureSAF tech and provide FEED for a proposed sustainable aviation fuel plant on Jurong Island, targeting up to 100,000 tons of SAF annually (subject to approvals). Identity Verification Upgrade: Aurora Mobile launched “Silent Auth,” a passwordless authentication layer that verifies phone number, SIM and device in milliseconds across 36 countries. AI Training for Security Ops: ITE’s Security Operations Training Command facility unveiled FXMedia’s AI command-centre simulation and mixed reality training system. Data Centre Expansion: Bitdeer signed a colocation lease for its Tydal AI data centre site in Norway, with effectiveness pending conditions. Local Tech & Skills: OCBC backs an esports-based active ageing programme with 2,400 coaching sessions at gaming venues across Singapore. Wildlife Tech: NTU researchers developed remotely controlled cyborg cockroaches that can operate underwater using diving suits.

Online Safety in Singapore: Singapore’s Online Safety Commission (OSC) starts operations on 29 June, backed by the Online Safety (Relief and Accountability) Act, giving victims faster routes for takedowns and account restrictions, starting with intimate image abuse, image-based child abuse, doxxing, online harassment and stalking. AI Adoption vs Anxiety: A new Stanford AI Index says the top AI developers don’t necessarily lead in adoption, with Singapore among the highest adopters while the US lags—fueling a debate on how people actually use AI. Energy Costs Bite: Singaporeans are bracing for a sharp electricity tariff rise from July as EMA links higher regulated rates to global fuel costs tied to the Iran conflict. AI Infrastructure in the Region: Firmus Technologies, Nvidia-backed and pivoting from crypto mining, is building a 360MW Nvidia DSX AI Factory in Batam with DayOne, targeting major chip access and offtake deals. Workforce Upskilling: IIT alumni in Singapore will train nearly 1,000 migrant workers in digital literacy and AI over two years, starting with sessions from August 2026. Clinical Breakthrough: An international SNAP Trial finds cefazolin and benzylpenicillin can be safer, equally effective alternatives to cloxacillin for serious staphylococcal bloodstream infections.

Online Safety in Singapore: The new Online Safety Commission opens Jun 29 with powers to force faster takedowns, restrict offender accounts and pursue civil damages, targeting intimate image abuse, image-based child abuse, doxxing, harassment and stalking. Workplace Safety Crackdown: After seven workplace deaths in five incidents over four weeks, MOM tightens enforcement with higher fines, longer stop-work orders (minimum eight weeks) and possible bans on hiring migrant workers for serious breaches. Labour Probe Update: A director linked to unpaid wages for 407 workers has returned to Singapore; his passport is impounded as MOM investigates, with workers being matched to jobs in the next weeks. Defence Tech Cooperation: South Korea and Japan will keep deepening defence exchanges, including AI-focused advanced science cooperation, plus maritime search-and-rescue drills. AI Supply-Chain Diplomacy: UAE and partners push “trusted” AI supply chains at Pax Silica, aligning governments and tech firms on secure infrastructure and resilient deployment. Mental Health Gap: A Duke-NUS study finds nearly 4 in 5 adults with anxiety or depression don’t seek professional help, but many are open to community peer support. Tech & Travel: Singapore Airlines shares rebound on Iran peace-talk hopes and World Cup demand, while airlines race ahead with luxury seats—though certification delays can leave them empty on launch.

AI in Public Health: Singapore’s Communicable Diseases Agency is exploring AI to scan international disease reports, support outbreak detection and modelling, and speed up policy decisions—alongside genomic sequencing and wastewater surveillance. MRT Engineering Ops: SMRT’s Circle Line maintenance window is being stretched to integrate new stations and trains, with Keppel, Cantonment and Prince Edward Road set to open July 12. AI + Oncology: At ASCO Breakthrough 2026, AI is moving from research into routine cancer care, including smarter tumour board workflows and faster translational research. AI Supply Chain Diplomacy: Pax Silica keeps expanding: the Philippines joins the AI opportunity push, while Qatar and the US sign a joint statement on AI and supply chain security. Crypto Compliance: A quick explainer on the Travel Rule breaks down how identifying info is shared between crypto providers for larger transfers, raising privacy and enforcement concerns. Local STEM Events: World Series of Board Gaming returns to Singapore (July 11–13) with 200+ games and competitive play. Education Research: NUS research links harsh or authoritarian parenting with higher child dishonesty over time.

AI Supply Chains: The US-backed Pax Silica push is gaining momentum as the Philippines signs a declaration to align AI rules with secure supply chains, including work on semiconductors, critical minerals and digital infrastructure. Local Tech & Industry: Foxconn Singapore approved a US$37.2m investment into its India unit, reinforcing long-term manufacturing expansion. Aviation Tech & Travel: Changi Airport is rolling out FIFA World Cup screenings and fan activities across terminals, while Singapore Airlines begins construction on a larger SilverKris Lounge at Melbourne Airport. Robotics in Healthcare: Vietnam’s Vinmec launched the country’s first integrated, multi-connected robotic surgery network linking multiple hospitals and robotic platforms. Regional Security: Indonesia and Australia agreed to deepen border security cooperation via intelligence sharing, immigration coordination and cybersecurity. Singapore Enforcement: ICA seized 880 cartons of duty-unpaid cigarettes hidden in a modified bus engine compartment at Woodlands Checkpoint. Workforce Support: NTUC and MWC will help about 400 unpaid migrant workers with S$200 each and special passes to find new jobs. Markets & Chips: Taiwan’s top 5,000 firms posted record 2025 profits, with TSMC leading amid AI demand. Education & Policy: Singapore’s GRIT traineeships are highlighted as graduates chase industry experience amid a tough jobs market.

Workplace Wellbeing: Gallup’s State of the Global Workplace 2026 flags the Philippines as a Southeast Asia outlier, with 50% of Filipino workers reporting stress “a lot of the day,” alongside high daily sadness and anger—yet also the region’s highest engagement at 39%. ASEAN STI Push: Malaysia calls for a more integrated, mission-led ASEAN science, technology and innovation ecosystem to tackle energy transition, food security, public health and climate resilience, including stronger regional innovation platforms and startup integration. Cancer Research: Day 1 of ASCO Breakthrough 2026 spotlights fast-moving precision oncology, with antibody-drug conjugates expanding across lung and breast cancer subtypes. AI in Finance & Payments: Airwallex announces a $320m Series H and a new CFO, positioning the funding for autonomous finance and agentic commerce. Singapore-Linked Tech & Health: Jumio partners with Trinsic to expand digital ID verification with biometric checks across 60+ countries, while Shionogi’s XOCOVA gets further approvals for Covid-19 post-exposure prophylaxis, including Singapore via the Special Access Route. Markets: U.S. stocks stay choppy as chip weakness and AI valuation worries weigh on sentiment, dragging broader tech-led moves across Asia.

ASEAN AI Sovereignty: Singapore and Indonesia urged a pragmatic take on AI sovereignty—less “own every layer” and more harmonising rules so AI benefits businesses and citizens across the region. Market Jitters: Asia stocks slid again as a tech sell-off deepened; South Korea’s Kospi plunged ~8–9% and triggered a circuit breaker after Apple’s price-hike news and renewed chip/AI valuation worries. Metalens Push: MetaOptics started shipping evaluation units of its metalens-integrated 5G smartphone and AI smart glasses to customers in Europe, Japan and the Philippines for in-house testing. Defence AI Guardrails: Singapore’s Chan Chun Sing said AI can speed defence decisions, but humans must stay “in the loop” to avoid autonomous mistakes. Migrant Worker Fallout: NTUC said job placement will begin for 400+ migrant workers after alleged unpaid wages tied to firms linked by a common director. Local Tech & Industry: HDB scaled back a Sembawang housing site to protect freshwater swamp forest remnants; and Smartworks proposed acquiring Workstudio Spaces to expand its Singapore coworking footprint. AI Chips at Borders: Malaysia customs seized AI chips worth RM52.9m at KLIA, alleging false declarations to bypass export controls.

AI Infrastructure & Networking: Netris raised US$15M Series A led by a16z to automate GPU data-centre networking, citing 800% ARR growth and 35+ production deployments, with a new Singapore push. Silicon Photonics: A market report projects silicon photonics to jump to US$27.35B by 2035, driven by AI data-centre optical interconnect demand and co-packaged optics. Undersea Connectivity Rules: The US FCC moved to require first-ever licences for submarine cable terminal equipment and tighten access by excluding Chinese vendors like Huawei and ZTE. Singapore Tech & Talent: DBS topped GTI Media’s Gradsingapore survey as the most desirable employer for local graduates, with IT/tech among the biggest study fields. Climate & Public Health: SIIA warned Singapore and parts of SE Asia face a high risk of severe haze in 2H 2026 as El Niño returns. Policy & Platforms: Google outlined reduced Play Store fees and a “billing choice” option that can cut developer costs in the US, EEA and UK. Local Business Tech: Singapore to upgrade PayNow and launch a new finance institute to drive innovation, while IQ-EQ appointed a new APAC head for asset owners based in Singapore.

Identity & Fraud: Shufti’s APAC KYC report flags identity fraud signals at 22.82% in Indonesia, with Singapore, India and others near the top as deepfake crime rises and more markets tighten onboarding checks. Fintech Funding: Airwallex, co-founded by Jack Zhang, secures $320m Series H at an $11b valuation, aiming to push “autonomous finance” and expand its AI-native financial platform. Digital IDs at Scale: Jumio expands global digital ID acceptance, supporting onboarding with digital IDs in 60+ countries and citing momentum from Singpass and other eID rollouts. AI Acceleration: Presight announces Cohort II of its AI Accelerator programme, selecting 12 companies from 62 countries to build applied AI for intelligent systems. AI for Physical World: WeRide GENESIS wins major Gen-AI and simulation awards, positioning its physical AI world model to cut autonomous driving data and annotation costs. Cybersecurity: ExtraHop’s threat landscape report says AI agents and GenAI apps are now top cyber risk targets, while SOCs still struggle with reactive operations and alert noise. Singapore Policy: MOM will set up the Skills and Workforce Development Agency on 1 July 2026, merging SSG and WSG under a new board chaired by Lim Sim Seng. Regional Tech & Markets: IMD’s 2026 competitiveness ranking puts Singapore back at #1, ahead of Hong Kong and Switzerland, as competitiveness shifts toward institutional efficiency and adaptability. Local Business/Property: URA releases two smaller GLS housing sites in Sin Ming and Kallang for sale, with analysts expecting stronger demand for the confirmed-list parcel. Entertainment Tech/Commerce: Ogilvy and TikTok Shop launch Singapore’s Live-Fluence League, a live commerce competition with a trackable sales leaderboard. Food Logistics: India’s first commercial sea shipment of premium Banganapalle mangoes reaches Singapore, backed by APEDA and cold-chain handling.

Singapore Tech & Policy: A newly formed UN AI panel with members including Singapore is set to deliver its first report on AI opportunities and risks on July 6–7, as governments push for governance that reflects more than just the most advanced countries. Cybersecurity & Quantum: IBM and NUS warn Singapore firms about “harvest-now, decrypt-later” risks, saying quantum readiness and upgrades are lagging and the gap is shrinking fast. Robotics in Manufacturing: Singapore leads in robot density, but experts say value depends on how robots are orchestrated across sites and vendors—not just adding more machines. Data Centres & Water: Microsoft says it’s building closed-loop cooling to cut water draw for AI data centres, targeting major water-use improvements by 2030. AI in the Workplace: A survey and local commentary highlight uneven AI adoption and concerns that AI may help companies more than workers. Local Labour Support: NTUC and MWC roll out cash, vouchers, accommodation and job help for about 400 migrant workers after alleged unpaid wages. Research & Materials: Singapore-linked researchers report ultrathin polymer membranes that could slash energy use in hydrocarbon processing. Energy & Markets: Oil slips as more tankers return to the Strait of Hormuz after a US-Iran deal, while tech stocks remain under pressure.

AI Chips & Markets: SK Hynix plans to raise up to US$29.4b via a US listing in July, aiming for a record secondary Nasdaq debut as AI hardware demand keeps driving semiconductor valuations. Singapore Tech & Infrastructure: Cisco warns legacy networks can’t handle the persistent, machine-speed load from AI agents, pushing firms to rethink bandwidth, security and “shadow AI” risks. Sovereign AI Push: Seven Boson Group launches a “Sovereign AI Decision Intelligence” service for air-gapped deployments, positioning it as a response to AI sovereignty rules. Energy & Data Centres: Wood Mackenzie buys LandGate to combine power-market forecasting with land and grid intelligence, targeting faster, data-led decisions as data centres reshape electricity demand. Mobility Robotics: WeRide, Geely Farizon and Hong Kong operator Kwoon Chung will develop right-hand-drive robotaxis, with Hong Kong as the first deployment market. Local Housing: HDB’s June BTO sees strong first-timer demand, with Berlayar Rise four-room flats drawing 5,023 applicants and Woodgrove Acres in Woodlands also topping interest. Labour & Compliance: Singapore will help about 400 migrant workers owed unpaid wages with S$200 each and job-matching support, while MAS reviews SKHTU Exchange’s compliance application. Environment: SIIA flags a red risk of severe transboundary haze in 2026, driven by El Niño and weaker fire preparedness. Cyber & Scams: The US sanctions Prince Group-linked entities across Cambodia and Singapore-linked networks, targeting the online scam ecosystem.