BlackRock, Mubadala unwind partnership for Asia private credit: sources
[HONG KONG] BlackRock and Mubadala Investment have mutually agreed to unwind their Asian private credit partnership that focuses on investments in China and Indonesia due to challenges in sourcing deals, according to people familiar with the matter.
Under the partnership, which started in 2023, the Abu Dhabi state-owned investment firm was to match every US dollar that BlackRock agreed to put in, said the people, who requested not to be named because the information is private.
The world's largest asset allocators are forging alliances with private credit funds to capitalise on the rapidly expanding US$1.7 trillion private credit market. Mubadala is one of the most active investors in the space, building a portfolio of 73.5 billion dirhams (S$25.5 billion), backed by collaborations with firms including Apollo Global Management, Carlyle Group, and KKR.
BlackRock did not respond to a request for comment. Mubadala declined to comment.
The partnership has deployed only a limited amount of capital. Originating deals in China is proving difficult given the mid-teens return profile it's targeting, said the people.
The head of private credit in Indonesia, Christopher Ganis, left in the early days of the collaboration for sovereign wealth fund Indonesia Investment Authority. That's made it difficult for deal origination in the country, the people added.
BlackRock's head of Asia-Pacific private credit, Celia Yan, also left to join Apollo recently, just as the firm is finalising its integration with HPS Investment Partners.
BlackRock last year agreed to buy HPS in an all-stock deal valued at about US$12 billion. The transaction is expected to be completed in the middle of this year, pending regulatory approval. The combined platform will expand to a team of 22 private market investment professionals with senior investor additions in Singapore and Sydney, according to an internal memo. BLOOMBERG
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NUS and NTU shine in global rankings but is Singapore seen as a world-class university destination?
When Mr Martin Ruzicka first applied to universities in 2022, Asia was not even on his radar. But after his first semester at University College London (UCL), he withdrew and transferred halfway around the world to continue his studies in Singapore. The 20-year-old from the Czech Republic is now in his second year of business school at Nanyang Technological University (NTU). Why the switch from UCL – widely considered as one of the best universities in the United Kingdom – to NTU? During his brief time in London, Mr Ruzicka had several 'unlucky and unsafe' encounters, including being approached for drugs on the street and harassed near his school accommodation, and felt that UCL's high fees were not justified by the quality of facilities or lectures. Growing up in the Czech Republic, he viewed Singapore as a 'very high-tech, green, efficient country', a positive impression that was elevated by the nation's institutions being high on university world rankings. 'My family and I placed a lot of importance on world rankings when selecting universities. NTU was perfect because the business course is only three years long, it was in English and NTU was high on the ranking,' said Mr Ruzicka. Besides the course and on-campus housing being 'value-for-money', Mr Ruzicka said Singapore's environment is well-suited to his personal needs, with illicit and controlled substances not being part of the university culture, in stark contrast to his time in the UK and in his home country. NTU, which rose three spots to 12th in the 2026 Quacquarelli Symonds (QS) World University Rankings, has so far delivered on its promise of a 'world-class education', he added. Mr Ruzicka is not alone in viewing rankings as a crucial indicator of quality in higher education. In these rankings, Singapore's universities, especially the National University of Singapore (NUS) and NTU, are increasingly standing tall alongside global education titans. In the latest rankings, NUS held firm at 8th place globally, while NTU rose to 12th. Together, the two outranked Ivy League institutions in the United States, such as the University of Pennsylvania (UPenn) and Cornell University, and China's powerhouse Peking University. Vietnamese student Nguyễn Kỳ Minh, a 19-year-old global studies and communications and new media major at NUS, said that back home, 'everyone knows about NUS' and sees Singapore as a top study destination. Beyond the rankings, it was affordability, academic rigour and opportunities for exchange that won him over. 'At the end of the day, it (all comes down to) graduating with an NUS degree. A lot of employers, especially internationally and in Vietnam, look at that and say, 'That's something, isn't it?'' Even younger autonomous universities in Singapore, such as the Singapore University of Social Sciences (SUSS), have attracted international attention. Ms Yanata Sulaiman, 24, from Indonesia, recently graduated with a Master of Management with a specialisation in digital marketing from SUSS. While her family was initially more familiar with NUS, NTU and the Singapore Management University (SMU), Ms Yanata said SUSS was attractive because it allowed her to specialise in two areas in a year-long programme. 'Singapore was one of the countries I wanted to study in. It feels close, not just in terms of distance, but in culture too. It's very international, so I can get an international experience here also,' she said. As for Singaporean students, while tuition subsidies and the institutions' global standing have long made local universities an attractive option for them, some told CNA TODAY that their decision to stay put has been further cemented by shifting global tides. Traditional destinations such as the United States, United Kingdom and Australia are increasingly being reassessed due to stricter immigration policies and mounting geopolitical uncertainty. Australia, historically a magnet for Singaporean and Southeast Asian students, had last year mooted i nternational student caps which would involve allocating a quota for each higher education institution for 2025. Universities in the UK, meanwhile, have been facing a funding crisis, with many struggling with rising costs amid a drop in international students. Though studying in the US once appealed to 18-year-old junior college student Anjaneya Sharma, he said the allure of top-tier universities like the Massachusetts Institute of Technology (MIT) and Harvard has faded due to the current political climate. 'Initially, I was considering US universities. Now I'm not even going to apply there. I'm considering NUS, NTU, because the situation (in the US) is very chaotic,' he said. In the US, President Donald Trump has sought to prevent Harvard from hosting international students, a move made amid higher education funding cuts and immigration crackdowns affecting American universities. Singaporeans now studying at Harvard are being offered the possibility of returning to local universities amid all this flux. But are local educational offerings attractive enough for Singaporeans seeking 'world-class' opportunities elsewhere? A Harvard undergraduate who only wanted to be known as Ryan, a Singaporean in his 20s, would still prefer to remain at the university if possible. He declined to have his real name published as he did not want to compromise future visa applications to the US. 'The general sentiment is that local universities won't be an exact replacement because the classes and academic systems aren't the same. For graduate students doing research, they might not be able to just transplant their research over, like if they're working with a lab,' said Mr Ryan. As international headwinds buffet long-established higher education destinations and Singapore's universities edge closer to the top tier in global standings, CNA TODAY examines whether the gap between Singapore's institutions of higher learning and the likes of Harvard or Oxford has narrowed over the years. SINGAPORE ON THE GLOBAL STAGE In the early 2000s, Singapore launched its 'global schoolhouse' vision, an initiative to transform the country into a leading tertiary education hub by attracting world-class institutions and students to its shores. Before that, in 1996, then Prime Minister Goh Chok Tong also announced plans to turn Singapore into the 'Boston of the East', referencing the city that boasts famous names such as Harvard University and MIT. Two decades on, while some Western universities continue to be perceived as globally prestigious, Singapore's local institutions are increasingly distinguishing themselves in global rankings — and drawing the attention of students far beyond its borders. The latest QS World University Rankings for 2026 featured over 1,500 universities from 106 countries and territories. Among Singapore's four ranked universities: ● NUS maintained its position as 8th in the world ● NTU climbed three places to 12th ● SMU jumped to 511st from its previous position at 585th ● Singapore University of Technology and Design (SUTD) dropped to 519th from 440th in last year's ranking The remaining two autonomous universities, the Singapore Institute of Technology (SIT) and SUSS are not currently ranked in QS. Commenting on the latest rankings, CEO of QS Jessica Turner said that Singapore has capitalised on its role as an international hub and offers a model of an education system that many around the world are trying to emulate. She added that Singapore's ranked universities have seen improvements across the metrics of academic reputation, employer reputation and a rise in international student ratio. 'For Singapore, because you have a smaller higher education system, it's easier to communicate that excellence – half of your universities are in the top 20 in the world. Nobody else can say that. You're therefore in a very good position to communicate Singapore as a destination,' said Ms Turner. Mr Byron Becker, a 23-year-old NUS business student from Germany, described Singapore as 'a very well-known city'. 'If you Google the university (NUS), you hear a lot of good things as well. For the people I know in Europe, it's very impressive for them to hear about studying in a Singaporean university.' While he was initially not too enthusiastic about the length of his four-year degree in finance, having to undergo general education modules at NUS such as a course called 'Thinking Like An Economist' has been a pleasant surprise. 'In retrospect, I'm very happy about that, because it offered a lot of perspective and broadened my horizon,' said Mr Becker. HOW RANKINGS WORK – AND WHAT THEY MISS Each year, global university rankings such as those by QS and Times Higher Education (THE) offer a snapshot of how universities stack up internationally. But their methodologies, and therefore their results, can vary significantly. The QS World University Rankings, one of the most widely referenced globally, uses the following key indicators: ● Academic reputation (30%) – based on global academic surveys ● Citations per faculty (20%) – measuring research volume ● Employer reputation and employment outcomes (20%) – how employers perceive institutions and the employability of an institutions' graduates ● Faculty-to-student ratio (10%) – a proxy for teaching quality ● International faculty and student ratios and international research network (15%) – diversity and global outlook ● Sustainability (5%) - assess environmental and social impact THE's World University Rankings, meanwhile, evaluates institutions using five broad pillars, with a strong emphasis on research performance and the academic environment. In the 2025 edition, NUS placed 17th, while NTU was 30th. While Singapore's universities have made impressive strides in the rankings over the past two decades, education experts cautioned against viewing these lists as definitive guides to the student experience. Associate Professor Jason Tan from the National Institute of Education (NIE) said ranking tables tend to have a 'disproportionate amount of influence' on parents and universities themselves. The proxy measures that many rankings rely on tend to be 'not helpful' in providing a full picture of what a student stands to gain from a university, he added. 'Most readers don't look beyond the numbers to examine the methodology used. For example, in the Shanghai Jiao Tong ranking, when they talk about teaching quality, they use as one of the criteria the number of professors that have won Nobel Prizes or equivalent awards, and that's probably why you don't see NUS or NTU ranking very highly in those rankings.' According to the latest ShanghaiRanking, NUS ranks 68th globally. 'There's very little said at all about what actually takes place in classrooms and labs. We don't really know (from the rankings)... what sorts of pedagogies are used, what students think about the kind of lessons they're receiving in the university,' said Assoc Prof Tan, whose research is on comparative education and education reform. Experts also pointed out that ranking methodologies typically favour comprehensive universities like NUS and NTU. Dr N Varaprasad, a partner at the Singapore Education Consulting Group, said: 'Particularly for the QS, there is a little bit of a feedback loop on academic reputation. The higher you go up, the more your faculty and your students get noticed for their work.' In response to CNA TODAY's queries, CEO of QS Jessica Turner said that the rankings are designed from the perspective of a student, in particular an international student, and aim to be a 'useful data point' in a student's decision-making process. 'We are looking at the nine indicators that are helping that can be measured globally. That's also a real constraint in any kind of comparative measures that best reflect student experience, and we're continuing to evolve that. 'Three editions ago, we added more employability focus into our rankings, and we added sustainability into our rankings because of the importance of those things to students. So we continue to evolve and reflect that student experience,' said Ms Turner. THE CONTINUED ALLURE OF FOREIGN UNIVERSITIES Yet, while Singapore may remain a top choice for many local students and draw growing international student interest, many top Singaporean students, including government scholars, still prefer to pursue their tertiary education abroad. In response to queries from CNA TODAY, a spokesperson from the Public Service Division, which grants prestigious scholarships to outstanding students annually, said that in the last three years, around 30 per cent of its scholarship holders have chosen to pursue their undergraduate studies locally. The remaining 70 per cent pursue their studies overseas in countries such as the US, UK, France, Japan, China, and Germany, the spokesperson added. The mix has changed in the past 12 years. In response to a parliamentary question in 2013, the Public Service Commission (PSC) had said 12 per cent of its scholarship holders then were pursuing undergraduate studies locally while the remaining 88 per cent pursued overseas education in the US, UK, China and Japan. In its statement to CNA TODAY, the spokesperson said: "As future public sector leaders, it is important for our PSC scholars to acquire varied experiences, and networks. Therefore, we hope to continue to have a good mix in terms of scholars pursuing their studies locally versus overseas." On scholars' preference for overseas education, SMU's former president, Professor Emeritus Arnoud De Meyer, said that this dates back to founding Prime Minister Lee Kuan Yew, where he and many of the pioneers of the early years of Singapore's political development were educated overseas. 'I think it goes back to the tradition, 'Let's learn from the best and bring the best to Singapore.',' said Prof De Meyer, who co-authored a book, 'Building Excellence in Higher Education: Singapore's Experience'. Studying overseas likely remains a popular option for scholars because of the opportunities to build a strong international network at the undergraduate level, which may come in handy for future placements in the civil service or politics, he added. Mr Said Gasimov, a 20-year-old chemical engineering student at NUS, turned down a few universities in the US, as well as the UK's UCL, Imperial College and Edinburgh University, to study here. 'Due to the current shifts in innovation towards Asia specifically, NUS seemed like a very promising option, sort of like a new player that is more innovation- and sustainability-oriented, as opposed to the traditional education offered in Western universities,' said Mr Gasimov, who is from Azerbaijan. Still, even though he believes that Singapore's universities are 'far more competitive' than their Chinese counterparts, they still lack the reputational power of legacy universities in the West. 'MIT, Stanford and Harvard are still viewed as far more prestigious,' he said. ALREADY 'WORLD CLASS'? Indeed, Singapore's top universities such as NUS and NTU regularly outperform or match Ivy League institutions on global league tables. Yet a lingering perception remains that they are still not quite in the same league. Prof De Meyer attributed such a perception largely to the quality and impact of research from top institutions. 'Our universities obviously don't have the research heritage of universities like Cambridge, Oxford, Harvard or Stanford,' he said. Singapore's small economy may also limit postdoctoral opportunities and industry linkages for research, further constraining global visibility. Elite institutions also benefit from influential alumni networks. Dr Ho Boon Tiong, consultant educationist and founder of Classpoint Consulting, said local universities could improve in this area. 'Alumni are brand ambassadors, and they can also contribute to the university by inspiring the undergraduates,' he said. Still, many experts argued that Singapore's higher education institutions already have the makings of a world-class system, especially when considered in context. Given its relatively young educational framework, designed to cater to diverse learning needs, direct comparisons with centuries-old Western institutions may overlook the unique strengths that Singapore's system offers. Prof De Meyer said the progress of Singaporean institutions in the past 30 years has been 'more than remarkable'. 'We can offer a well-funded, attractive and free research environment; access to top quality researchers pursuing PhDs, and our institutions are very well embedded in international networks,' he added. He suggested that a more meaningful comparison may be with Hong Kong, where five of its universities are among the global top 100 in the latest QS rankings. These institutions, which also offer English as a medium of instruction, are likely to be more direct competitors to Singapore's universities, especially for students looking to study in Asia or deepen their understanding of China, said Prof De Meyer. One area where Singapore is building world-class strength is in aligning university programmes with workforce needs. 'Today's world is not so siloed. SMU, for example, has integrative studies in the first year, so students can explore before they jump in. This is an area where local universities can carve out a niche,' said Classpoint Consulting's Dr Ho. He noted that many degrees now include three- to six-month internships, giving students real-world experience before graduation. Assessing the calibre of Singapore's universities also requires looking beyond rankings, as institutions such as SUTD and SUSS may be less visible in global rankings because of their different missions. 'The diversity in the landscape is deliberate,' said NIE's Assoc Prof Tan. 'There are two types of autonomous universities, the research-intensive universities and applied learning universities. You have to take the diversity into account, not hold them all to a common standard.' He noted, for example, that SUSS is mostly geared towards adult learners in the workforce looking to upskill, while SIT courses may appeal to polytechnic students. Dr Varaprasad from the Singapore Education Consulting Group said he would hesitate to say universities here are lagging behind top-tier global universities. 'It is more accurate to say (they have) different emphases due to our particular history where universities are primarily meant to serve business, industry and the professions." In this regard, human resource experts said that Singapore's universities are doing well in preparing graduates for the workforce. Ms Cherrie Lim, director in corporate finance, M&A and corporate strategy in Asia at executive recruitment firm Ethos BeathChapman, said degrees from local universities are seen as comparable to those from Ivy Leagues or Oxbridge for entry-level hiring. Among local universities, NUS, NTU, and SMU continue to be 'highly respected' institutions with both local and multinational employers, particularly for roles in the region. 'What often makes a candidate stand out at the graduate level isn't just the university name, but rather their GPA (grade point average), relevant internships and extracurricular activities,' she said. Looking beyond a graduate's alma mater aligns with the 'obvious shift' towards skills-based hiring from academic hiring, said Mr David Blasco, country director at recruitment agency Randstad Singapore. He said that some employers prefer local graduates, who often have more relevant internships and project experience for the Singapore market. For NUS computing student Jack Chen, this rings true. 'A few years ago, going to an Ivy League school could secure you everything. But in the past three years, there's been a drastic change in the job market, companies value your internship experience a lot more,' said the 24-year-old. He sees Singapore-based peers having an advantage over their overseas counterparts, as the former are more in touch with how competitive the job market is and generally are more willing to take gap years to stack internships. Barring highly specialised degrees needed for niche fields, Mr Blasco from Randstad said most employers value a graduate's experience and cultural fit over university pedigree alone. 'While credentials from top global universities are impressive, it does not guarantee preference. In recent years, local universities have responded proactively to evolving business and talent needs by introducing new degree programmes in areas such as data science and analytics, artificial intelligence, and cybersecurity,' he added. WHAT NUS, NTU ARE DOING In response to CNA TODAY's queries, NUS and NTU cited the various efforts they have taken to attract top talent and enhance their international standing. Professor Bernard Tan, Senior Vice Provost in Undergraduate Education at NUS, said its 'vibrant campus environment' encompasses students, researchers and faculty from some 100 countries. NUS is keeping pace with rapid economic changes and has 'significantly expanded' its efforts to foster a well-rounded university experience and equip its graduates with 'robust skill sets underpinned by academic rigour', he said. These include scaling up interdisciplinary learning, enhancing experiential learning through industry internships, fieldwork and overseas exposure, offering students opportunities to use AI responsibly for assignments and enabling life skills development through residential programmes and co-curricular activities. Over at NTU, Professor Gan Chee Lip, who is the Associate Provost in undergraduate education, pointed out that aside from rising to 12th place in the latest QS World University Rankings this year, it also jumped to 30th in the latest THE rankings released last year, compared to 47th in 2020. 'NTU has climbed steadily over the years in the QS World University Rankings, and continues to excel in academic reputation and faculty citations. NTU has also performed well in the faculty student ratio metric, indicating a strong learning experience,' he said. Prof Gan added that NTU adopts a multi-faceted strategy, such as social media and website outreach and direct collaboration with top schools both local and overseas to recruit academic talents and participate in key education fairs. He highlighted programmes such as the University Scholars' Programme and the Turing AI Scholars Programme, which have enhanced curriculum for students with demonstrated aptitude for higher academic rigour and include overseas experiences with 'top partner universities'. WHAT OTHER SINGAPORE UNIS SAY For SMU, Provost Alan Chan said that its 'steady upward movement' in global rankings over the past year is encouraging. The school's student population represents over 30 nationalities, mostly from Singapore or ASEAN nations. SMU graduates are 'known for being career-ready and resilient', said Professor Chan, with nearly 90 per cent of its Class of 2024 graduates securing employment despite a tighter labour market. As for attracting top students, he said SMU focuses on identifying 'high-potential students' who are a strong fit for its interdisciplinary and interactive style of education, through signature events such as the Open House and targeted international outreach efforts and digital marketing campaigns. 'We don't see ourselves as replicating other institutions, our model reflects a different opportunity. SMU is part of a new generation of universities designed for a fast-changing world. That means being interdisciplinary, industry-relevant, and responsive to emerging global challenges,' said Prof Chan. Ms Tammy Tan, chief communications officer at SUTD, said that while the university does not see rankings as a direct indicator of employability, its graduates 'consistently achieve strong outcomes' in both employment and starting salaries that are comparable to peers from more highly ranked institutions. 'We acknowledge the significance of global university rankings, but we also recognise that each has its own methodology and may not fully capture the broader value a university provides. Rankings are important, but they don't necessarily reflect what we prioritise, including student development, research, innovation and enterprise,' said Ms Tan. She added that there has been an increase in openness from academics and researchers in exploring opportunities in Singapore, and in students' interest in SUTD's hardware and software-oriented pathways, spanning 'high-growth and emerging fields' like AI, cybersecurity, digital transformation, semiconductors, and healthcare technology. 'We believe that the true value of a university education lies not just in rankings, but in how ready and relevant our graduates are for the future … SUTD's strong grounding in core engineering and computing principles ensures that our graduates are adaptable and versatile across a range of sectors,' said Ms Tan. As for SIT, Professor John Thong, deputy president of academics and provost, said the university chooses not to participate in global university rankings such as QS or THE, which primarily focus on academic research output and citation metrics, as they 'do not fully capture SIT's mission and strengths'. SIT offers a 'differentiated value proposition' which has seen 'strong and growing interest' from both domestic and international prospects in programmes aligned with national priorities such as healthcare, robotics, and those that adopt an interdisciplinary approach. 'Unlike traditional research-intensive universities such as Harvard, Oxford, or Peking University, which are known for academic research, SIT delivers an applied, industry-focused education designed to prepare students to succeed in the workforce,' said Prof Thong. Meanwhile, SUSS Provost Professor Robbie Goh said the school has observed a 'significant increase' in applications from international students, primarily from countries across Asia. International applications for full-time undergraduate programmes for example, have more than doubled year-on-year between AY2024 and AY2025. Rather than competing directly with Ivy League or Oxbridge institutions, Prof Goh said SUSS' programmes resonate with students who value community impact, social innovation and lifelong learning. Instead of focusing on competing in rankings that value theoretical research and publication volume, Prof Goh said SUSS offers an education that is 'grounded in real-world application, industry relevance and a strong ethos of community engagement" via initiatives such as its work-study programme and compulsory work attachments for all full-time students. 'Our unique positioning as a university with a strong social focus allows us to attract students who are not only academically talented but also deeply committed to making a difference,' said Prof Goh. STUDENTS' DESIRE FOR BROADER EXPOSURE Even as local universities invest heavily to redefine what constitutes a world-class education, winning over students remains a challenging task. According to education consultants, contrary to headlines suggesting waning interest in overseas study, the industry preparing local students for places at top international universities has become even more competitive. Ms Joanne Gao from overseas education consultancy Crimson Education said interest in studying at top US and UK universities has grown over the past three years. Ms Gao is the regional manager for Singapore, Malaysia, Philippines, and Myanmar for the Auckland-headquartered company. Of the 500 students that Crimson Education supports annually, only about 10 per cent are assisted by the consultancy to apply to local universities, though some students submit local applications independently to keep their options open. She added that Ivy League and Oxbridge schools retain their allure due to their name recognition, competitiveness and powerful alumni networks. 'It's not just about who you graduate with; it's a lifelong community that students can tap into for mentorship, job opportunities, and collaborations,' said Ms Gao. Dr Chan Khai Leok, director Singapore-based consultancy The Right U, said the competitiveness of Singapore's most in-demand courses, like law and medicine, also drives some students overseas. 'While many students, particularly polytechnic graduates, do not qualify for NUS, NTU and SMU, they can comfortably secure seats at global top 30 universities in Australia and the UK. These institutions are perceived as being more prestigious than alternative options available to them in Singapore,' said Dr Chan. Alternative study destinations which offer cost-effectiveness, including 'non-traditional, non-English-speaking destinations' in East Asia such as China and Japan, or Germany and the Netherlands in continental Europe, are becoming more popular too. Still, around 30 per cent of the agency's students make concurrent applications to local universities, as a fallback or parallel option that is a "serious alternative" to overseas schools. Mr Lim Chin Kah, whose agency Asia Education and Business focuses on higher education opportunities in New Zealand, noted that while the country may be a less traditional destination, all eight of its universities are typically ranked within the world's top 500. 'Those parents who support their children to study (in New Zealand) are not so concerned about the rankings,' said Mr Lim, adding that a first degree in New Zealand can be a launchpad for students to pursue further education. For many Singaporeans, studying abroad is not a rejection of local universities, but a desire for international experience. Mr Jack Xie, 24, a Singaporean student at the London School of Economics (LSE), said: 'Local universities are regionally strong – the best students I know in my junior college stayed in local universities, mainly studying science and medicine. But I wanted to have a more global perspective in my life.' Also in the UK is Mr Guo Wen Jun, a 23-year-old economics student at the University of Warwick. While his parents were initially concerned, given that Warwick was ranked lower than NTU and NUS in university world rankings, they became more supportive upon hearing about his reasons for wanting to study abroad. One factor was his desire to work in London after graduation, given the city's larger and more mature market. Similarly, for Ms Laura Lee, a 22-year-old Singaporean student at UPenn's Wharton School of Business, she has 'no doubt' that NUS and NTU are academically strong universities. 'Going overseas to study is not just about the academic environment, it's about building global connections beyond Singapore, exploring new opportunities and seeing how we can bring new models back to Singapore, and learning how to live independently,' said Ms Lee. While she had offers from other top US institutions like Yale, Tsinghua in China and Singaporean universities, Ms Lee eventually chose Wharton because of its alumni network, which boasts Warren Buffet and Elon Musk as alumni. In her entrepreneurship classes, professors sometimes call on Wharton alumni who are venture capitalists to take over some lessons. Despite such foreign benefits, local universities remain the first choice for some other Singaporeans and international students, especially amid rising costs and geopolitical uncertainty. Eighteen-year-old junior college student Regina Yap is considering applying to local universities such as NUS, NTU and SMU mainly due to the lower cost. 'When safety concerns and geopolitical tensions were less pronounced in the past, I would have given more consideration to overseas universities,' she said. Ms Yap added that her positive impressions of local universities came from open houses, career fairs and strong graduate employment rates. 'Many of my peers are considering local universities because of cost and the fact that they're still unsure about what they want to pursue. Some have expressed certainty about studying overseas – particularly those interested in courses like liberal arts, which tend to have a more robust scene abroad. They're mostly financially supported or aiming for specific scholarships,' said Ms Yap. For international students like Mr Jonathan Davinius Layardi, 23, an Indonesian who followed in his sister's footsteps to pursue a degree at SUTD, studying in Singapore was both a family aspiration and a personal milestone. 'My immediate and extended family said that starting in Singapore was a dream come true, something to be grateful for, something to be cherished,' said Mr Jonathan, who majored in engineering systems and design. On top of his appreciation for SUTD's close-knit collaborative academic environment, Mr Jonathan was greatly affected by the university's willingness to support him when a health crisis disrupted his studies. Mr Jonathan discovered a brain tumor after a fainting spell in 2023 and had to take a gap year to recover after surgery. As his cognitive function was still impaired when he returned to school, the university made accommodations and extended exam durations and ensured his living environment in the hostel was "very peaceful". "I would need to repeatedly read a statement to properly absorb the information, which would risk timeouts in my exams. Knowing this, the faculty of my pillar set up a time extension so I had more time to digest questions." SUTD also provided him a wheelchair and assisted him with returning to his hostel room as he would occasionally faint while on the move. "It's been very much incredibly rewarding, not just because of the academics, but because of the people as well.
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- Independent Singapore
Singapore is 6th most peaceful country on the 2025 Global Peace Index
SINGAPORE: In the 19th edition of the Global Peace Index, produced by the Institute for Economics & Peace, Singapore was ranked the sixth most peaceful country in the world. The index, which covers 99.7% of the population around the world, evaluates the level of peacefulness of 163 independent states and territories, based on these criteria: level of societal safety and security, extent of ongoing domestic and international conflict, and degree of militarisation. Iceland, which has held the number one spot since 2008, topped the list yet again with a score of 1.095. Interestingly, Iceland is the only member country of the North Atlantic Treaty Organisation (NATO) alliance without a military. Ireland, which has played an important role in global peacemaking, took second place on the index with a score of 1.260, closely followed by New Zealand, which scored 1.282. New Zealand, the only Pacific nation in the top 10, not only climbed one spot to take third place, but its peacefulness score also rose by 3.1% over the last year. Rounding out the top five are Austria and Switzerland, with both receiving a score of 1.294. While Austria fell by one spot on the index, Switzerland conversely rose by one notch. Singapore, now sixth with this year's score of 1.357, dropped one place from fifth last year. Regionally, it follows New Zealand to take second place in the Pacific, and is the only Asian country in the top ten. Notably, the city-state 'is another popular destination for American expats, including those looking for entrepreneur economies like that of Silicon Valley', as Insider recently pointed out, adding that Singapore is in the top five when it comes to societal safety and security, as well as ongoing conflicts. Countries in Europe dominate the rest of the top ten with Portugal in seventh place (1.371), followed by Denmark (1.393), Slovenia (1.409), and Finland (1.420). This should come as no surprise, given that Western and Central Europe is the most peaceful region in the world. On the other hand, the Middle East and North Africa (MENA) region is still the least peaceful. 'This year's results found that the average level of global peacefulness deteriorated by 0.36%. This is the 13th deterioration in peacefulness in the last 17 years, with 74 countries improving and 87 deteriorating in peacefulness,' the index notes. For the first time, Russia has become the least peaceful country in the world on this year's Global Peace Index. Ukraine, Sudan, the Democratic Republic of the Congo, Yemen, Afghanistan, Syria, South Sudan, Israel, and Mali, respectively, took the other nine spots among the bottom 10 least peaceful countries. /TISG Read also: Singapore clinches highest rank among all Asian nations in 2023 Global Peace Index
