How Singapore businesses are preparing for their next moves
See how companies in precision medicine and logistics, as well as SMEs, build resilience and seizing new opportunities.
Singapore businesses across various sectors are carefully planning their next steps, whether they are first-movers, innovators, or reinventors. SMEs, which make up 99% of enterprises in Singapore, play a crucial role in the country's economy and their adaptation and growth are vital. SME Centres provide guidance and support to help businesses grow in different ways, not always by getting bigger, but by reevaluating their operations, investing strategically, and turning strengths into new opportunities.
Innovative companies such as Innoflex, Inter-Lab Products, and Transcend Aero Services are leveraging technology and AI to improve their operations and expand into new markets. Innoflex is using AI-powered tools to manage and maintain air-conditioning systems, while Inter-Lab Products is venturing into new markets with its hygiene business.
Transcend Aero Services is applying AI to strengthen its business valuation process, demonstrating how businesses are transforming their operations in response to changing competition and external factors.
Logistics companies in Singapore are also adapting to challenges such as rising costs, limited land, manpower, global disruptions, and the need to reduce emissions. Allied Container Group is digitalizing depot operations and improving depot efficiency, while Seo Eng Joo Frozen Food uses predictive forecasting and automated replenishment to manage stock across cold-chain operations.
EcoSwift is testing battery-swapping technology to reduce downtime for electric heavy goods vehicles, showcasing how logistics companies are strengthening their operations through automation, data, and cleaner technologies.
In the healthcare sector, Singapore is playing an increasingly significant role in precision medicine, with home-grown businesses tackling various aspects of the precision medicine journey. HistoIndex uses AI-powered imaging to assess liver disease more accurately, while Kyan Technologies tests individual cancer cells' responses to different drugs.
Oncoshot converts medical records into usable data to help hospitals identify patients for clinical trials. These businesses are working on different parts of the precision medicine journey, from understanding diseases to tailoring treatments to individual patients, ultimately contributing to Singapore's goal of becoming a global leader in precision medicine.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
