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Singapore’s median monthly household income rose to S$12,446 (US$9,250) in 2025, up from S$11,558 the year before, representing a 6.8% increase after adjusting for inflation. After accounting for household size, median monthly household income per household member grew 7.5% in real terms to S$4,160, compared with S$3,837 in 2024, according to the Key Household Income Trends 2025 report released by the Singapore Department of Statistics (Singstat) on Monday (Feb 9). Prime Minister Lawrence Wong said real wages have risen across all income levels over the past decade, with wage growth outpacing inflation for many households. He added that income growth has been strongest among lower-income workers, exceeding gains seen by middle- and higher-income groups. From 2025, Singstat expanded its definition of household income to include “market income”, which covers income from both employment and non-employment sources. The revised data also includes households with no employed members. Singstat said the change reflects Singapore’s ageing population, as more households comprise individuals aged 65 and above who may rely on income from investments, rentals and annuities rather than work. The expanded coverage allows for a more comprehensive analysis of income trends. Non-employment income includes interest from savings and Central Provident Fund (CPF) balances, investment dividends, rental income, contributions from other households, and CPF or insurance payouts. Singstat noted that while most data is drawn from administrative sources such as CPF records, some income—particularly from investments or overseas assets—may be underreported as it relies on survey data. The Ministry of Finance said this was the first release of market income data, reflecting rising affluence and a growing retiree population. Some underestimation is expected, especially among higher-income households with non-employment income that is harder to track. Income growth across deciles Households across all income deciles recorded growth in average monthly household income per member over the past decade. After adjusting for inflation, the lowest income decile saw a 10.5% increase over the past five years, compared with a 1.4% increase for the highest decile. Singstat noted that some households in the lowest decile owned cars, employed domestic helpers, lived in private properties or had a household reference person aged 65 and above. Employment income remained the largest source of household income, though its share declined to 79.6% in 2025 from 81.1% in 2024. While households in the second to 10th deciles relied mainly on income from work, those in the lowest decile depended largely on non-employment income. For the lowest-income group, investment income—mainly interest from CPF balances—accounted for 40.9% of household income per member. Other income, largely from CPF payouts and the Lifelong Income for the Elderly (LIFE) scheme, made up 37%, while rental income contributed 3.2%. The remaining 19.2% came from employment. Transfers, taxes and inequality Households in the first to seventh income deciles received more in government transfers than they paid in taxes. In 2025, resident households received an average of S$7,300 per household member in government transfers, down from S$7,725 in 2024 due to the expiry of one-off support measures. Residents living in one- and two-room HDB flats received the highest support, averaging S$16,519 per household member. Prime Minister Wong, who is also Finance Minister, said lower-income households receive about S$7 in benefits for every dollar of tax paid, while middle-income households receive about S$2. The top 20% receive about S$0.20 per dollar of tax paid. Singapore’s Gini coefficient, a measure of income inequality, fell to a record low. Based on the new definition of household market income, the coefficient declined to 0.452 in 2025 from 0.460 in 2024. After accounting for government transfers and taxes, it fell further to 0.379, the lowest level since records began in 2015. MOF said the broader definition of income and household coverage affects the coefficient, but overall reflects a more comprehensive and accurate picture of income distribution in Singapore.

Agrobank has become the latest Malaysian bank to suffer a major online fraud case, with losses amounting to RM203.8 million. The case was disclosed by Home Minister Saifuddin Nasution Ismail in a parliamentary reply. He said the fraud was detected in November last year and led to the arrest of 47 individuals. Three suspects have been charged under Section 424C(1) of the Penal Code for offences involving mule accounts, while investigations into the remaining suspects are ongoing. Saifuddin said police are finalising investigation papers with assistance from CyberSecurity Malaysia and Bank Negara Malaysia. He added that no Agrobank customer accounts were affected. Agrobank is wholly owned by the Minister of Finance, with one share held by the Federal Commissioner of Lands, and operates under the supervision of the Ministry of Agriculture and Food Security. In November last year, Agrobank said it was reviewing an internal systems incident. Subsequent information indicated the case may have involved a coordinated attempt to siphon funds using hundreds of accounts.

The Group has surpassed USD 3 billion in cumulative loans issued. Meanwhile, the number of registered customers equaled 21.6 million as of the end of 2025. The achievement comes as digital lending gains scale worldwide. According to the research estimates, the global market exceeded USD 500 billion in 2025 and is projected to reach USD 985 billion by 2031. The Asia‑Pacific region accounted for 39.4% of global digital lending volume in 2025 and is expected to remain one of the main contributors to overall growth. UnaFinancial operates in the markets with large underbanked populations and mature digital infrastructure, including the Philippines, Uzbekistan, and Kazakhstan. Despite widespread Internet and smartphone access, formal borrowing remains limited in these countries. According to the Global Findex Database, only 12% of adults in the Philippines and Uzbekistan accessed formal loans in 2024, while Kazakhstan reported a higher but still modest 33%. “Reaching $3 billion in loans issued reflects the growing demand for accessible credit in underserved markets, “ said Sergey Sedov, Chief Executive Officer of UnaFinancial. “We remain focused on expanding financial inclusion, and our technology enables us to do this responsibly and at scale.” Apart from the high demand for borrowing, the Group attributes its growth to strong customer loyalty, disciplined risk management and a commitment to sustainable lending practices. Looking ahead, UnaFinancial plans to continue investing in technology and expand its product portfolio.

BateriHub has surpassed 200 branches nationwide, marking a significant scale milestone in Malaysia’s automotive aftermarket sector and positioning the company as the country’s largest direct-owned car battery retail network. The expansion milestone is supported by official recognition from ASEAN Records, which has awarded BateriHub the approved title and category: First and Largest Direct-Owned Car Battery Retailer by Branch Count and Floor Area (200 Branches Covering 340,875.68 sq ft). The recognition serves as validation of BateriHub’s operating scale and infrastructure footprint, rather than the sole focus of the announcement. The BaterniHub leadership receiving the ASEAN Records for First and Largest Direct-Owned Car Battery Retailer by Branch Count and Floor Area. “At this scale, growth is no longer about opening stores quickly; it’s about whether service quality holds when demand spikes or when customers are stranded outside major cities,” said Mr. Kok Wai Kit, Co-Founder & Managing Director, BateriHub. “Running a direct-owned network allows us to train people the same way, deploy technicians faster, and keep decision-making close to operations. Crossing 200 stores matters because it widens access to dependable help, not because of the number alone.” As of January 2026, BateriHub covers more than 500 service areas across 11 states, including Klang Valley and secondary regions such as Kedah, Terengganu, and Kelantan. This expanded footprint enables the company to support motorists not only in urban centres, but also in locations where access to timely roadside battery replacement has traditionally been more limited. The company operates 200 branches, employs over 460 staff, and has served more than 1.0 million customers to date. It has also recorded 70,000+ positive customer reviews across Google, Facebook, and e-commerce platforms. “Reaching 200 branches is not the result of one strategy or one team,” said Mr. Wong Wai Loong, Co-Founder & Managing Director, BateriHub. “It is the outcome of logistics, operations, technicians, customer service, and support teams all moving in the same direction over many years. The focus now is not just to grow bigger, but to grow better, in quality, sustainability, and people development.” BateriHub attributes its growth to three core factors. Its 100% direct-owned operating model allows the company to maintain consistent service quality, pricing, and brand standards across all branches. This is reinforced by sustained investment in people, systems, and training, ensuring teams operate with a uniform, customer-first mindset. Finally, a data-driven approach to site expansion and operational execution has enabled the business to scale quickly while remaining sustainable. Today, BateriHub supports customers through multiple service channels, walk-in replacement, roadside assistance, battery delivery, and jumpstart support, all routed through a central customer service and technician dispatch system. This structure enables consistent response standards across urban and secondary locations, particularly during breakdown scenarios where time and reliability are critical. Looking ahead, BateriHub is focused on strengthening its domestic footprint while laying the groundwork for regional growth. Locally, the company is planning to enter East Malaysia around Q3 2026, following strong interest from potential partners, bringing the BateriHub brand, systems, and standards to meet growing demand. Regionally, BateriHub has been studying the Singapore market since 2023, with broader ASEAN expansion forming part of its five-year strategic roadmap. “Scaling a retail network is not just about footprint, but about discipline,” said Mr. Stan Singh, Head of Media and Councillor, Malaysia Retail Chain Association (MRCA). “What stands out in BateriHub’s growth is its ability to maintain centralised control while expanding rapidly, which is often the hardest balance for multi-branch operators to achieve.” The ASEAN Records recognition was formally presented during BateriHub’s Annual Dinner on 29 January 2026 at JioSpace, Petaling Jaya, attended by approximately 420 guests.