Singapore must innovate now or become increasingly irrelevant. Pressured by tech-based disruption and globalisation, the economy is languishing, its stock market is struggling and listed companies have suffered five years of dwindling returns. However, while old-economy businesses struggle, we are seeing early signs of transition to a new digital economy. CLSA’s Head of Singapore Research Jonathan Galligan looks at the country’s prospects and the opportunities that technological disruption brings.

Jonathan explains his thesis

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Disrupted industries

Globalisation and disruption are pressuring Singapore’s old-economy industries, making them increasingly disintermediated. Many blue chips have been left flat-footed as disruption threatens their existence. Increasing connectivity and rapid technological development is changing the playing field and investors must be aware of the disruptive threats to listed companies.

Finance

Telecoms

Retail

Offshore

Transport

Positive change is in the pipeline

However, no country in Asia is better positioned for change. A supportive government committing S$35bn through 2025, a solid business environment and a robust startup ecosystem that ranks as the strongest in Asia have attracted not just multinationals but many new digital-economy industries and startup companies.

New-economy growth sectors

While change is urgent, new-economy industries have already sprouted. Anchored by a robust ecosystem and strong government support, we have identified 10 growth sectors in the new Singapore economy that will ultimately lead the way to economic growth over the next decade.

FINTECH

Mobile financial services
Blockchain/
cryptocurrencies

Transport

Booking apps, private hire car, electric vehicles, autonomous vehicles

E-commerce

B2C, C2C e-commerce,
Online grocery

cleantech

Solar energy, battery storage, Electric, autonomous vehicles

data technologies

Data centres, Data analytics, cybersecurity

Lifestyle & online gaming

Gaming technologies,
Aggregators, social apps

Biomedical sciences

R&D in drugs, equipment etc, Pharmaceutical manufacturing

Sharing economy

Home-sharing platforms, P2P marketplaces

Advanced manufacturing

Robotics, 3D printing, Aerospace, semiconductors

Edtech

Online tutoring,
Robot tutors

Other CLSA mini-sites

Singapore must innovate now or become increasingly irrelevant. Pressured by tech-based disruption and globalisation, the economy is languishing, its stock market is struggling and listed companies have suffered five years of dwindling returns. However, while old-economy businesses struggle, we are seeing early signs of transition to a new digital economy. CLSA’s Head of Singapore Research Jonathan Galligan looks at the country’s prospects and the opportunities that technological disruption brings.

Loading the player...

Disrupted industries

Globalisation and disruption are pressuring Singapore’s old-economy industries, making them increasingly disintermediated. Many blue chips have been left flat-footed as disruption threatens their existence. Increasing connectivity and rapid technological development is changing the playing field and investors must be aware of the disruptive threats to listed companies.

Finance

Telecoms

Retail

Offshore

Transport

Positive change is in the pipeline

However, no country in Asia is better positioned for change. A supportive government committing S$35bn through 2025, a solid business environment and a robust startup ecosystem that ranks as the strongest in Asia have attracted not just multinationals but many new digital-economy industries and startup companies.

New-economy growth sectors

While change is urgent, new-economy industries have already sprouted. Anchored by a robust ecosystem and strong government support, we have identified 10 growth sectors in the new Singapore economy that will ultimately lead the way to economic growth over the next decade.

FINTECH

Mobile financial services
Blockchain/
cryptocurrencies

Transport

Booking apps, private car hire, electric vehicles, autonomous vehicles

E-commerce

B2C, C2C e-commerce,
Online grocery

cleantech

Solar energy, battery storage, Electric, autonomous vehicles

data technologies

Data centres, Data analytics, cybersecurity

Lifestyle & online gaming

Gaming technologies,
Aggregators, social apps

Biomedical sciences

R&D in drugs, equipment etc, Pharmaceutical manufacturing

Sharing economy

Home-sharing platforms, P2P marketplaces

Advanced manufacturing

Robotics, 3D printing, Aerospace, semiconductors

Edtech

Online tutoring,
Robot tutors

FINTECH

Mobile financial services
Blockchain/cryptocurrencies

Transport

Booking apps, private hire car, electric vehicles, autonomous vehicles

E-commerce

B2C, C2C e-commerce,
Online grocery

cleantech

Solar energy, battery storage, Electric, autonomous vehicles

data technologies

Data centres, Data analytics, cybersecurity

Lifestyle & gaming

Gaming technologies,
Aggregators, social apps

Biomedical sciences

R&D in drugs, equipment etc, Pharmaceutical manufacturing

Sharing economy

Home-sharing platforms, P2P marketplaces

Advanced manufacturing

Robotics, 3D printing, Aerospace, semiconductors

Edtech

Online tutoring,
Robot tutors

Other CLSA mini-sites