As Singapore expands its connections abroad, it must also build stronger capabilities at home, said Deputy Prime Minister Gan Kim Yong on Sep. 25.

This means giving Singapore businesses and people a stake in the progress and prosperity brought about by the trust forged with other countries, said Gan, who is also Minister for Trade and Industry (Trade).

Speaking on the second day of the FutureChina Global Forum 2026 held in Singapore, DPM Gan discussed how cooperation between Singapore and China can help to strengthen resilience in each country and in Southeast Asia.

He highlighted that the two countries have spent decades building trust through mutually beneficial cooperation.

"We should now draw on that trust to build capabilities in Singapore and across Asean," he said.

Making opening up work better

Gan began his speech pointing out how the traditional model where opening up drives development is now strained.

"Geopolitical rivalry has made countries more concerned about dependencies and economic security," he said.

Singapore and China have both benefited from trade and investment, which has opened markets for businesses and enabled workers to have better jobs.

In response, businesses and workers have asked whether they have a fair share in the gains from openness and growth, as well as technological change, Gan noted.

Rather than looking inward and closing up to protect local businesses, he believes Singapore needs to make openness work better for its businesses and people.

Building capabilities at home

Gan observed that Southeast Asia today faces a harder path to industrial upgrading.

This is due to intensifying competition, the growth of automation, and digital platforms that bring not only new markets but also new competition.

More trade and investment, by themselves, will not be enough now, Gan said.

"We must also help local enterprises move up the value chain to benefit from these opportunities, and workers acquire the skills to take on new roles."

When Singapore becomes the Asean chair in 2027, it will work together with fellow member states to deepen integration and strengthen the region's capacity to respond to change, Gan committed.

Additionally, he believes a stronger and more resilient Asean should be a shared priority for Singapore and China, because greater prosperity in the region will give their businesses growing markets, more resilient supply chains, and stronger partners.

The Asean-China Free Trade Area 3.0, he said, offers Singapore a framework to work with China and its Asean partners in areas such as the digital and green economies and supply-chain connectivity.

"The task now is to translate these commitments into practical opportunities for enterprises and workers across the region."

He gave examples of investors in transport connectivity projects working with local suppliers to improve quality standards, production methods, and products.

Technology partners can also help smaller firms adopt digital tools, while developing local capabilities to adapt and maintain them, he added.

Competitive niche

While talking about strengthening cooperation, Gan emphasised that the aim is not for every economy to do exactly the same thing.

Instead, it should help businesses across the region build a competitive niche in the value chains, and help workers to see pathways to progression.

Such interactions keep regional integration more relevant and resilient, he said.

"When local firms gain from customers and capabilities, and workers gain better opportunities, they will have a reason to support continued trade and investment."

Singapore—China cooperation

Gan also outlined the opportunities Singapore and China can seize together in AI and the green economy.

He brought up the Singapore—China Digital Policy Dialogue, a platform where both countries can exchange perspectives on AI governance and data, and build confidence in the responsible use of this technology.

In terms of the green economy, Gan said that China has deep technological and manufacturing capabilities, while Singapore brings strengths in areas such as finance, connectivity, and project implementation.

They have established a Green and Digital Shipping Corridor in Tianjin, combining trials of alternative fuels and digital solutions with workforce development.

This project helps businesses and workers prepare for changes in the maritime sector, Gan added.

"This is the kind of cooperation we will pursue – cooperation that builds capabilities, and supports participation in new areas of growth."

Charoen Pokphand Group (CP), the parent company of CP Foods, has gifted 16-year-old Thai rocker Nene Royal, who was crowned the winner of America's Got Talent (AGT) 2026, and her family with a 98 sqm luxury condominium unit in Bangkok, Thailand.

Winner of AGT 2026

Nene, whose real name is Rattikarn 'Praew' Umloy, won the talent competition on Sep. 24, taking home the US$1 million (~S$1,279,230 million) prize.

She is also the first Thai contestant to win the competition.

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According to The Bangkok Post, Nene taught herself to play the guitar through online videos and began playing when she was only seven years old.

She was known in Phuket for busking at the Naka Weekend Market.

Her breakthrough came on Jul. 8, 2026, when AGT posted a video of her performing "Zombie" by The Cranberries on its YouTube channel.

The video has garnered over 20.8 million views at the time of writing.

CP gifts Nene and her family a condominium unit

Following Nene's victory, CP senior chairman Dhanin Chearavanont announced that his family had gifted Nene and her family a condominium at Mulberry Grove The Forestias in Bangkok.

According to The Bangkok Post, the property is estimated to be worth between 25 million (~S$955,681) and 36 million baht (~S$1,376,161).

The gift was presented ahead of Nene's trip to the U.S. for the AGT final.

In a statement, the Chearavanont family said the gift was inspired by Nene's story and the support she had received from her family.

"Despite the challenges along the way, her parents and family have remained by her side, supporting and encouraging her with love and determination as she pursued her dreams and reached this important milestone."

Dhanin told Nene's parents that Nene's journey could inspire a new generation to "dare to dream, take action, persevere through challenges and believe in their own potential".

He also emphasised the importance of family support in helping her reach this milestone.

He said he hoped the condominium would serve not only as a home, but also as a place where Nene and her family could build new opportunities and make a positive contribution to society.

The Chearavanont family said the gift was made from one family to another and came with no obligations attached.

Mulberry Grove The Forestias comprises six buildings ranging from seven to eight storeys, with 269 residential units spread across more than 16 rai (~25,600 sqm).

The unit given to Nene's family has a living area of around 99 sqm, and comprises two bedrooms and two bathrooms.

The Chearavanont family had also previously provided Nene with financial support for her education and other expenses related to her participation in AGT 2026.

The support was reportedly worth about 10 million baht (~S$382,411).

A 62-year-old Singaporean woman was charged on Sep. 25 for allegedly taking part in unlawful public assemblies demonstrating support for Falun Gong on six occasions from October 2024 to February 2026.

Ng Chye Huay faced six charges under the Public Order Act.

Demonstrations

In charge sheets seen by Mothership, on Oct. 12, 2024, at about 4:45pm, Ng allegedly took part in a demonstration supporting Falun Gong at Merlion Park.

She did not have a permit.

This was followed by five other alleged demonstrations of similar nature on Jun. 25, Oct. 10, Oct. 25, and Nov. 24, 2025, at the same location.

On Feb. 14, 2026, at about 3pm, she also took part in similar demonstrations at Anderson Bridge.

Dispute

Ng’s lawyer said she was disputing all the charges.

She did not indicate a plea.

Her case was scheduled for a pre-trial conference on Oct. 26

If found guilty of taking part of an unlawful public assembly, Ng could be fined up to S$3,000.

Prior offences

According to reports from media outlets advocating Falun Gong, Ng was previously on trial after being charged with unlawful assembly and handing out VCDs without a licence in 2004.

Ng also had prior convictions of similar offences in 2001, 2005, and 2007.

Additionally, in July 2020, Ng was issued a 12-month conditional warning for participating in a public assembly without a permit.

Falun Gong

Falun Gong, also known as Falun Dafa, is a Chinese spiritual practice that combines meditative exercises.

The practice stems from moral teachings linked to Buddhism and Taoism.

In 1999, China cracked down on practitioners following a ban on Falun Gong.

While practising Falun Gong in Singapore is legal, any public demonstration with at least five people without a police permit is illegal.

Two three-room public housing flats that were combined into a single unit was marketed for sale for S$2.18 million on Sep. 19, 2026.

A listing of the 1,465 sq ft corner unit with five bedrooms can be found on the Propertyguru website.

The combined units sold as one unit is located at Block 93B Telok Blangah Street 31.

The listing raised eyebrows and questions not just because of its asking price — the unit had more than 91 years left on its lease.

As its lease started in late 2017, it has not completed at least two five-year minimum occupancy cycles before being put on sale.

In response to public interest, the property agent claimed that he received 50 enquiries within three days of marketing the combined unit.

HDB's response

In response to Mothership's queries, the Housing and Development Board (HDB) confirmed that the combined units have received approval for sale as a single unit.

The units were combined under the Conversion Scheme.

Under the scheme, eligible owners may purchase an adjoining three-room or smaller flat on the open market, subject to prevailing citizenship and household nucleus requirements.

HDB said the flat owners purchased the first three-room flat from HDB in December 2017, and they subsequently decided to purchase the adjoining unit in August 2021.

The adjoining unit belonging to the neighbour was sold during its minimum occupation period "due to the family’s circumstances" and approval was obtained from HDB.

Two flats should cost S$1.54 million

HDB noted that the listing price of S$2.18 million "is significantly higher than what comparable transactions in the area would suggest".

Based on the data, transactions for individual comparable three-room flats range from around S$673,000 to S$771,000 over the past six months, according to HDB.

HDB added: "Based on the upper end of this range, the total price of two such flats would amount to around S$1.54 million."

The current listed price is more than S$600,000, or over 40 per cent, above this amount, HDB also said.

HDB added: "Should a transaction proceed at this price on a willing buyer-willing seller basis, it will likely entail a substantial cash-over-valuation, which must be paid fully in cash upfront."

HDB said it has not received a resale application for this flat.

HDB will review conversion scheme

In its response, HDB also said it understands the concerns of the public regarding this listing and will review the Conversion Scheme:

Purchasing a flat is a long-term financial commitment. Prospective buyers are strongly advised to do thorough research, evaluate their housing options carefully, and plan their finances prudently so they do not end up over-paying. We urge buyers to refer to resale transaction data on HDB InfoWEB and available housing options on the HDB Flat Portal.

The government remains committed to keeping public housing affordable and accessible. We understand the concerns that members of the public have shared with us regarding this flat listing, and will do a review of the Conversion Scheme.

What is Conversion Scheme?

The Conversion Scheme was introduced in 1993.

It allows eligible owners of three-room or smaller HDB flats who require more living space to combine their flat with an adjoining unit to form a larger flat.

Under the scheme, eligible owners may purchase an adjoining three-room or smaller flat on the open market, subject to prevailing citizenship and household nucleus requirements.

They must also seek HDB’s assessment on the structural feasibility of combining the units before submitting their purchase application.

If approved, they can proceed to complete the purchase and combine the two units into a single flat under one lease.

The combined flat can subsequently be sold on the open market after meeting the new Minimum Occupation Period (MOP).

If you were a fan of local television drama "Growing Up", this one's for you.

Actress Amy Cheng, who played the wife of eldest Tay son Gary (Andrew Seow), shared a series of photos on Instagram on Sep. 21 showing several cast members of the popular 1990s drama reuniting over a meal.

Among those who joined Cheng were Irin Gan, who played eldest Tay daughter Vicky, as well as Lim Kay Tong and Wee Soon Hui, who portrayed Mr and Mrs Tay.

Ivan Tay, who played Gary's best friend Kheng Joo in the series, was also at the gathering.

One of the show's executive producers, Ng Say Yong, was present as well.

"A very easy afternoon with colleagues from our MediaCorp days — catching up, laughing and talking about the work we still love," Cheng wrote in her post. "The ease and camaraderie were still there... well, at least on my part."

The show started in 1996.

Missing from the reunion photos are the other three Tay children: Seow, Steven Lim, who played David, and Jamie Yeo, who played Tammy.

The reunion drew an enthusiastic response from fans in the comments.

One commenter said the post "healed" him:

"They don't make TV shows like that anymore. Growing Up was formative to my childhood. I wish they rebooted the series with a new generation of Tays during the 90s to the present day."

Responding to the comment, Cheng said: "All of us (including cast members who were not present as well as crew members across the years) appreciate the fact that stories from this series have connected in different ways."

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Background

"Growing Up" ran for six seasons from 1996 to 2001.

The drama series followed the Tay family as they navigated life in Singapore against the backdrop of the country's changing landscape from the 1960s to the 1980s.

The cast's last publicly known reunion was on a "CNA On The Red Dot" special in 2021.

Lim Kay Tong, Wee and Yeo appeared in person, while Steven Lim joined the reunion via video call from Bangkok.

Seow and Gan were not present at that reunion.

It was also previously reported that Seow, who left showbiz after his last television role in 2006, joined Aetos Security Management as an auxiliary police officer.

A South Korean centenarian has worked as an insurance agent for the past four decades, and still does so today.

Seoul Economic Daily (SED) reported that one Kim Sook Ja joined insurance firm Hanwha General Insurance in 1983, and has shown up for work every day since. 

Now at 100 years old, Kim reportedly still meets clients face-to-face and inks new contracts.

According to SED, a ceremony was held by Hanwha to present Kim with a "100-Year Legacy FP" award on Sep. 22 2026.

The senior leadership of the company was in attendance. 

An FP, short for "financial planner", refers to an insurance agent in Korean parlance.

They sell various types of insurance products and often are involved in retirement planning or asset management.

Previously, Kim received long-service awards from Hanwha at the 20-, 30-, and 40-year mark.

While working as an insurance agent, she raised her family and now has grandchildren.

Kim said that she "could not be happier" to have received recognition for her long journey and legacy.

After spending about two to three hours a day going around looking for bottles and cans, one 53-year-old cleaning attendant has amassed close to S$2,000 in deposit refunds under the Beverage Container Return Scheme (BCRS), which was launched on Apr. 1, 2026.

The 53-year-old was one of the few people who were seen by Shin Min Daily News reporters at a Return Right reverse vending machine at Amoy Street Food Centre.

Since the April rollout, more than 33 million bottles and cans have been collected under BCRS.

Two to three hours per day

The 53-year-old, surnamed Zhang (transliteration), told Shin Min that he would go around collecting bottles and cans on his bicycle outside of working hours.

He dedicates two to three hours a day to this.

On weekends and rest days, he might even make up to three trips per day.

Zhang, who resides in Chinatown, focuses on the central region.

He would sift through at least 10 waste bins per trip.

He said he takes care not to leave the area around the bins dirty, and also brings along a bottle of water to wash his hands.

"At times, it would take two hours to fill up one to two bags. Each day I collect about S$10 to S$30 in deposits," Zhang told Shin Min.

Each can or bottle is worth 10 cents in deposit refund.

Once, he collected 400 bottles in a day, amounting to about S$40 in deposit refunds.

When asked why he spent the effort to collect bottles and cans, Zhang said that the deposit refunds he gets not only supplemented his income, but it was also a form of exercise.

"Regardless of what people think, all the money was made by my own effort," he commented.

To date, he has collected close to S$2,000 in deposit refunds.

The money goes towards his daily expenses.

When asked about the best spots to collect the recyclables, Zhang smiled and declined to reveal it.

However, he shared that the back of convenience stores and smoking points are key locations.

Zhang would also frequent nightlife districts such as Geylang or Tanjong Pagar, where people might dispose of their empty cans in bins out of convenience instead of looking for a Return Right machine.

More earned via BCRS than selling directly to waste collectors

At Golden Mile Food Centre, Shin Min's reporters spoke to a father-son duo who were carrying two bags of beer cans.

The 63-year-old son told Shin Min that his father, 88, had made a habit of picking up used bottles and cans two to three years prior to the implementation of BCRS.

Back then, they would sell the recyclables to waste collection companies.

66 bottles and cans would bring about S$1.40.

"Now, each can or bottle brings in 10 cents. 66 of them would give more than S$6. It's more than before," they told Shin Min.

As his elderly father is unfamiliar with how to use the Return Right reverse vending machines, the 63-year-old would receive the deposits on his card before transferring the money to his father.

So far, the 88-year-old has collected about S$200 to S$300 in deposit refunds.

"It's not a lot, but it can be used as pocket money," the 63-year-old said with smile.

He also shared that his elderly father now has a greater reason to head out to look for "treasures", which keeps him active at the same time.

There has been quite a bit of chatter online about the escalators at Nex.

Many complaints, both serious and humorous, about how and why the escalators sometimes don't work.

That frustration extended to Google Reviews as well.

Of the 22,367 reviews of the mall, around 185 are tagged with "escalators".

"Every visit feels like another section is closed," one netizen said.

With others offering workarounds for the escalator issue.

So what actually is going on?

Under maintenance

When Mothership went down to the mall, we were met with these escalators under maintenance.

Escalators under renovation

Here's a clearer example of the affected escalators Mothership observed on Sep. 22.

On Sep. 18, we noted that this escalator was down as well.

It was, however, repaired by the time we returned on Sep. 22.

One small escalator outside was also out of order at the entrance.

Frasers Property published an article on Feb. 12 that said Nex was scheduling an Asset Enhancement Initiative (AEI) to take place in the second quarter of 2026, which would take about two years to complete.

This will apparently see about 44,000 square feet of additional commercial net lettable area (NLA) being added.

Other periods

Complaints about the escalator, however, appear to have surfaced quite a bit before the AEI in 2026.

In July 2025, a Facebook post on Complaint Singapore alleged that an escalator from level B1 to B2 had been under maintenance for over two weeks.

The feedback wasn't just online either. Mothership went down to talk to staff from various outlets in the mall.

All the staff, from stores on different floors, acknowledged the issues with the escalators.

Their complaints ranged from the affected escalators changing constantly, their business being affected, or it being a hassle to get to their workplace.

One escalator had been undergoing maintenance for over a month, a staff member at the basement level said.

An employee at a second-floor outlet said an escalator nearby had been under maintenance for the past four to five days.

Staff and commuters alike will then have to walk quite a distance to reach the next escalator, which makes things inconvenient, especially for the elderly, she said.

The staff estimated the maintenance on escalators throughout the mall had been ongoing for at least six months to over a year.

It was not a monolith of course, and one staff at an outlet a bit further away from the escalators praised the mall's layout, calling it the best mall in Singapore.

Upgrades

As seen from earlier pictures, the escalators appear to be down as part of an upgrading programme, aiming for a November finish.

Responding to Mothership's queries, a Nex spokesperson confirmed on Sep. 10 that they are currently undergoing the AEI.

The spokesperson says they have been undergoing a "modernisation programme" for their lifts and escalators.

This programme commenced prior to the AEI, and the programme is part of their ongoing efforts to enhance the "safety, reliability and overall experience" of their shoppers.

Due to the programme, they noted that some escalators may be taken out of service for upgrading works, while others "may require servicing or repairs due to wear and tear".

They will monitor the situation closely and restore affected escalators as quickly as possible.

"We seek our shoppers’ patience and understanding as we work through the modernisation programme, and sincerely apologise for any inconvenience caused."

A number of Facebook posts have made their rounds on the social media platform alleging that dog meat was being illegally imported and sold in Singapore.

One such post, written by an anonymous user, appeared in the Facebook group Dogs Singapore some time between Sep. 23 and 24.

The post also included the number of an individual, allegedly linked to a company importing the meat.

When contacted by Mothership, the individual behind the number said that the claims that she was selling dog meat were untrue and her number has been misused.

Posts in Vietnamese

While the post on Dogs Singapore has since been deleted, a Mothership reader showed that it contained screenshots of other Facebook posts published in groups for Vietnamese living in Singapore.

These posts, written in Vietnamese, purportedly peddled dog meat as "vitamin gâu gâu", a Vietnamese slang for dog meat.

Other posts in the group which claim to sell dog meat appeared to advertise various cuts of meat and listed their prices in dollars.

They also included photos which appeared to feature raw and cooked meat, although the meat's origin cannot be verified.

Meanwhile, the post on Dogs Singapore alleged that a company was behind the illicit importation.

It also included a phone number and the name of the number's owner, claiming that the number was being used for the company's PayNow transactions.

The post on Dogs Singapore, published by an anonymous user, claimed that they had gathered "concrete evidence" and was submitting a "formal report" to the Singapore Food Agency (SFA) and the Animal and Veterinary Service.

Individual behind phone number is housewife, says claims untrue

Speaking with Mothership, the individual behind the number, Pham, 28, said that she is aware of the Facebook posts.

However, the Vietnamese woman emphasised that the claims are untrue.

Pham, who is a housewife and has been residing in Singapore for about five years, said that she is not involved in any illegal trade of dog meat.

Since the posts spread on Facebook, she has received at least one call asking about her involvement.

The call was made on Sep. 23, some time between 8pm and 9pm.

The person on the call asked Pham about the claims in the post and told her that they would call the police on her if she was indeed selling dog meat in Singapore.

Pham suspects that someone might be misusing her phone number and "setting her up".

When asked if she has any guess as to who might be behind this, Pham could not give an answer.

The housewife pointed out that she now feels afraid and might make a police report.

She shared that she has also been contacted by officials from a government agency about the claims.

She has since met up with them, similarly telling them that she has no involvement in the sales of such meat.

Director of company accused says she loves dogs

In one comment, the anonymous user also alleged that a local company, Faith Logistics, was involved in the sale of dog meat in Singapore.

Faith Logistics is a transport company with a warehouse located at Woodlands.

When contacted by Mothership, Karen Chan, Director of Faith Logistics, referred to a Facebook post by the company addressing the allegations.

In the post, Chan said that they were aware of the allegations.

"I would like to personally reassure our customers, friends and business partners that this allegation is completely untrue," Chan wrote.

She also clarified, "We provide transportation and logistics services for our customers, and we do not sell dog meat, nor do we condone or support the sale or trading of dog meat."

Chan also noted in the post that she was a dog lover herself and shared a photo of her dog along with the post.

She told Mothership that she did so as she wanted people to see the "personal side of this situation".

"I’m a dog lover myself, and dogs are very precious to me. The allegation was upsetting to me not only as a business owner, but also personally," she commented.

Chan added that her dog's name is Nono.

On who might have made the accusations, Chan said in her Facebook post that she did not want to "point fingers" or speculate.

"We simply hope everyone will look at the facts and verify information before sharing or repeating unverified allegations," Chan said, adding that the company was "happy" to cooperate with relevant authorities and provide information to clarify the matter.

She also thanked her customers and business partners for their continued trust and support.

SFA looking into matter

In response to Mothership's queries, SFA said that it is looking into the matter.

"SFA has not approved any source of dog meat," it said.

SFA added that all food imports must meet their requirements.

Illegally imported food products from unknown sources can pose a food safety risk.

Meat and meat products can only be imported by licensed importers from SFA-accredited sources.

It is an offence to sell meat and meat products that were imported without a valid licence or valid import permit.

Offenders found to be selling meat and meat products that were illegally imported shall be liable on conviction to a fine of up to S$50,000 and/or imprisonment for up to two years.

In the case of a second or subsequent conviction, offenders will be subject to a fine of up to S$100,000 and/or to imprisonment for a term up to three years.

"Food safety is a joint responsibility. While SFA puts in place and enforces regulatory measures, food importers and retailers must play their part by ensuring that the food products they bring into Singapore for sale comply with SFA's import requirements and are safe for consumption. " SFA said.

Members of the public with concerns about food safety practices should report them to SFA via the online feedback form.

At the time of writing, at least one post on the claim of illegal dog meat trade in Singapore continues to circulate on Facebook, this time in the group PHV Community - Drive Smarter Together!.

This post, which was uploaded on Sep. 23 at about 10:41pm, has since garnered 150 shares.

A new artificial intelligence (AI) workforce Co-Lab has been launched to help financial institutions train their staff in critical AI skills.

The Co-Lab, launched by the Institute of Banking and Finance (IBF) and 23 pioneer financial institutions, was announced by Deputy Prime Minister and Minister for Trade and Industry (Trade) Gan Kim Yong on Sep. 24.

It brings together employers and partners to assess how jobs are changing, and test practical approaches to training and job redesign, said DPM Gan in his speech at the IBF's Distinction Evening.

As part of the Co-Lab, the 23 pioneer institutions have committed to equipping their entire workforce in Singapore, which totals about 80,000 employees, with critical AI skills by 2028 through IBF-recognised programmes.

Over half of these employees have been trained to date.

The Co-Lab will lay a common foundation in AI usage for employees across different functions, DPM Gan said.

At the same time, employees will need skills suited to their particular roles and combine them with the use of AI, he added.

He further encouraged more financial institutions to join the collaboration.

Three pathways

Three Co-Lab pathways were launched: Co-Lab@Leaders, Co-Lab@Wealth Managers and Co-Lab@Operations.

Co-Lab@Leaders is designed to enable leaders to lead AI workforce transformation, help them identify valuable applications of AI and establish sound governance.

By considering which jobs will change with the rise of AI and preparing their employees, these leaders' decisions will also help shape business performance and their employees' prospects.

On Co-Lab@Wealth Managers, DPM Gan said the rising demand for wealth management across Asia creates opportunities for Singapore.

AI can help relationship managers analyse information faster and spend more time with clients, he said.

As they continue to provide tailored advice to clients, there will also be a need for stronger advisory expertise.

10 private banking employers have committed to upskill their relationship managers, DPM Gan revealed.

Co-Lab@Operations, meanwhile, will bring together major banking and insurance employers to redesign operational jobs and develop progression pathways, which will involve higher responsibilities in an existing role in many cases.

For others, staff may move to related roles or engage in new work involving AI.

It comes as AI gradually changes how routine processes are carried out, requiring staff to develop capabilities in areas like process improvement, exception handling, risk oversight and validating AI output.

Young talent programme

During his speech, DPM Gan also announced IBF's pilot Young Talent Programme for AI in Finance, designed to help undergraduates build skills both in AI and finance.

It also gives them first-hand experience with how AI is used in the finance sector, he said.

At present, the first cohort of students has completed their masterclasses and will soon begin project work under the mentorship of industry practitioners.

Job attachments at financial institutions are also open to others.

Tripartite collaboration

DPM Gan also announced that the tripartite memorandum of understanding (MOU) between IBF, the NTUC Financial and Professional Services Cluster of Unions, and seven industry associations across industries like banking, insurance and asset management will be enhanced.

This change will place an emphasis on helping the workforce adapt to AI through industry outreach and access to training and career support.

At the same time, it will create opportunities to develop programmes tailored to each sub-sector, he said.

Emergence of AI

"AI is already changing how financial institutions operate," said DPM Gan.

However, while AI adoption grows, some jobs will expand and others will change, he acknowledged.

"We want AI to translate into better careers for Singaporeans and a more productive workforce.

This requires commitment and action by financial institutions, as well as partnership and support from the Government and unions."