Industry News

WatchFund SG, a Singapore-based platform that allows investors to own and wear investment-grade luxury watches, has been named Alternative Investment Manager of the Year 2025 at the WealthBriefingAsia Awards. This accolade, received at a gala dinner in Singapore, marks the company’s eighth consecutive win, highlighting its decade-long success in the collectibles investment sector.

The WealthBriefingAsia Awards recognise excellence in wealth management, focusing on client experience, performance, and innovation. Winners are selected through a rigorous judging process involving experts from private banks, family offices, and technology companies. WatchFund SG’s latest recognition adds to its impressive list of accolades, including 12 wins for Alternative Investment Manager and two for Collectibles Advice Provider.

Dominic Khoo, Founder and CEO of WatchFund SG, stated, “WatchFund SG is proud to set the global benchmark for luxury collectibles investing. These awards affirm our unique value proposition and relentless focus on aligning fully with our investors’ interests.”

Since becoming a finalist in 2015, WatchFund SG has consistently won awards across Greater China and Southeast Asia. Its success is attributed to an independently audited 8-year track record, niche expertise, and a performance-first model that eliminates annual fees, earning only when investors profit. This approach has attracted high-profile clients, including Liverpool FC CEO Peter Moore and football icon Roberto Firmino.

WatchFund SG’s resilience has been proven during global downturns like SARS and COVID-19, leveraging market expertise to deliver returns. As alternative assets gain momentum, the firm continues to innovate, cementing its position as a leader in luxury collectibles investing.
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The National Youth Council, KPMG in Singapore, and the Institute of Public Relations of Singapore have launched Gen2050, a youth action programme designed to empower young people to address pressing social issues. This initiative, unveiled on 5 June, seeks to provide youths from diverse backgrounds with the skills and mentorship needed to drive meaningful change in their communities.

Gen2050 is structured around two main tracks. The first track offers a comprehensive programme featuring four key modules led by industry experts. Participants will gain insights into social entrepreneurship, problem-solving, and stakeholder management, with opportunities for mentorship and funding to pilot their innovative ideas. This track also connects youths to professional networks, potentially leading to national youth leadership programmes.

The second track involves a series of youth engagements, allowing participants to interact with policymakers, industry leaders, and peers. These discussions will cover critical topics such as the impact of artificial intelligence on employment, equitable access to digital skills, and mental wellness. Insights gathered will contribute to the SG Youth Plan, a five-year action plan reflecting the aspirations of young Singaporeans.

This collaboration highlights the power of public-private partnerships in amplifying youth-driven impact. The National Youth Council leverages its expertise in youth engagement, whilst KPMG provides industry perspectives and mentorship. The initiative underscores a commitment to nurturing the next generation of leaders equipped to tackle societal challenges.
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The World Class Cocktail Competition, a prestigious platform for bartending excellence, is set to conclude its Singapore chapter with a thrilling final on 16 June 2025. Six exceptional bartenders will compete for the title of World Class Bartender of the Year 2025 Singapore, with the winner representing the nation at the global finals in Toronto.

The penultimate challenge, held on 29 May 2025, saw ten bartenders compete in the Johnnie Walker Blue Label Challenge. This round required participants to craft cocktails that embody modern luxury, drawing inspiration from art and fashion. The cocktails were judged on taste, appearance, service experience, bar skills, and storytelling.

The finalists include Marco Maiorano from KOMA, Zana Mohlmann from Manhattan, Ooi Foo Giap from Last Word, Kelvin Saquilayan from Republic Bar, Tryson Quek from Side Door, and Samuel Pang from Night Hawk. Marco Maiorano’s “Thirsty Artist” impressed judges with its blend of Johnnie Walker Blue Label, banana wine, and a triple-evaporated peanut butter spray. Other standout creations included Zana Mohlmann’s “Alien Superstar” and Ooi Foo Giap’s “2018”.

The final showdown at Baia will feature two rounds: “Drink to the Future,” where bartenders must create an immersive luxury cocktail experience using technology, and “The Showdown,” a fast-paced service round. Esteemed judges, including Ervin Trykowski and Pedison Kao, will evaluate the finalists.

As the competition draws near, anticipation builds for an unforgettable evening celebrating Singapore’s cocktail culture. The question remains: who will claim the coveted title of World Class Bartender of the Year 2025 for Singapore?
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The retail vacancy rate in Singapore increased to 6.8% in the first quarter of 2025, up from 6.2% in the previous quarter, according to Savills Research. This rise is attributed to new retail spaces, such as Punggol Coast Mall and the revamped The Cathay, taking time to be absorbed into the market. Net demand fell by 129,000 square feet as occupied space decreased across most areas after five consecutive quarters of positive net take-up.

Savills anticipates a steady pipeline supply of retail space this year, with around 597,000 square feet of Net Lettable Area (NLA) expected, slightly down from the 679,000 square feet completed in 2024. A significant increase in supply is projected for 2028, with major projects like the Marina Bay Sands expansion set to be completed. This will result in an average annual supply of 659,000 square feet NLA from 2025 to 2029, higher than the historical average of 445,000 square feet per year from 2020 to 2024.

Despite the overall demand softening, prime malls along Orchard Road have seen healthy lease renewal momentum, particularly from luxury retailers. Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, noted that whilst prime spaces are quickly occupied, the rate of closures could soon surpass new openings. He stated, “Orchard rents are likely to hit the upper end of our 1% to 2% growth forecast in 2025.”

The retail sector faces challenges from rising costs and a tight labour market, with the Urban Redevelopment Authority’s rental index showing a 0.5% quarter-on-quarter decline in the Central Region. However, the meetings, incentives, conventions, and exhibitions (MICE) segment is expected to drive growth, with plans to triple MICE receipts by 2040, potentially boosting retail spending in key precincts.

Edmund Sze-Wing Tse, the longstanding Independent Non-executive Chairman of AIA Group, has announced his retirement effective 30 September 2025. After over six decades with AIA, Tse will be succeeded by Sir Mark Tucker, who will assume the role on 1 October 2025, pending regulatory approval.

Tse, who has been instrumental in shaping AIA’s success, expressed his gratitude for the support of his colleagues and confidence in Tucker’s leadership. “Mark’s significant contributions to AIA during his tenure as the Group Chief Executive and President have been substantial and enduring,” Tse stated.

Sir Mark Tucker, who previously served as AIA’s Group Chief Executive Officer and President from 2010 to 2017, will also become Chairman of the Nomination Committee and a member of the Remuneration Committee. Tucker brings over 40 years of experience in the financial services industry, having worked across Asia, the US, the UK, and Africa. He will conclude his role as Non-executive Group Chairman of HSBC Holdings on 30 September 2025.

Lee Yuan Siong, AIA Group Chief Executive and President, praised Tse’s unparalleled contributions, noting his role in establishing a strong foundation for AIA. “Edmund’s vision and ambition have been instrumental in shaping AIA into the leading franchise it is today,” Lee remarked.

Sir Mark expressed his honour in taking on the role, stating, “I look forward to working with the Board, Yuan Siong, the Executive team, colleagues, agents, and partners across the region to build on the Group’s success.”
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Arina East Residences, a new development in Tanjong Rhu, sold 10 units during its launch weekend, according to Huttons Asia CEO Mark Yip. The launch coincided with a challenging market period due to tariff-related uncertainties and occurred during the June school holidays, which may have impacted sales figures.

The project marks the first residential development in Tanjong Rhu in 12 years. This limited supply has historically driven price appreciation in the area over the past 15 years. The development is conveniently located just a three-minute walk from Katong Park MRT station and offers a rare freehold tenure, adding to its appeal.

The Tanjong Rhu area is currently undergoing significant transformation and is set to become part of the 120km Southern Coastline, as announced during the August 2024 National Day Rally. Additionally, the Singapore Sports School will relocate to the Singapore Sports Hub, further enhancing the area’s attractiveness.

Yip expressed optimism about future sales, suggesting that the initial figures are likely to improve as the market stabilises and the area’s redevelopment progresses.
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Arina East Residences, a freehold development, successfully sold 10 out of its 107 units through a private placement on 7 June. The sales, which accounted for approximately 9% of the total units, achieved an average price of $3,008 per square foot (psf). The transactions included seven two-bedroom units, one three-bedroom unit, and two four-bedroom units, with prices ranging from $2,880 psf to $3,250 psf. Most buyers were Singaporeans, according to PropNex CEO Ismail Gafoor.

The development’s initial sales reflect a trend observed in smaller projects, which typically experience a more measured take-up rate compared to larger developments. As the private placement was not a full project launch and the preview occurred only a week prior, further sales are anticipated to progress gradually over the coming months.

Arina East Residences boasts a prime location within walking distance of Katong Park MRT station and is situated in the sought-after Tanjong Rhu area, known for its waterfront homes and proximity to the Kallang recreation hub. The development’s location near several schools, including Dunman High School and Chung Cheng High School, enhances its appeal to families. Additionally, its freehold status may attract buyers interested in legacy planning or hedging against inflation.

The average launch price of $3,008 psf is considered competitive when compared to nearby freehold projects in District 15. For instance, Meyer Blue sold units at an average of $3,150 psf, whilst The Continuum achieved $2,920 psf, based on data from URA Realis up to 27 May 2025. The development’s strategic location and competitive pricing position it as an attractive option for potential buyers.
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CapitaLand Investment Limited (CLI), a global real asset manager, has announced securing additional capital commitments for its CapitaLand Ascott Residence Asia Fund II (CLARA II). This move underscores strong investor interest in transforming underutilised assets into high-performing living spaces in key Asia Pacific cities. CLARA II, alongside its co-investors, has acquired a prime mixed-use asset in Tokyo for over JPY30 billion, marking its third asset acquisition and second in Japan.

The acquisition will increase CLI’s funds under management by approximately S$470 million. Kevin Goh, CEO of CLI Lodging, highlighted the company’s extensive lodging experience and market insights, stating that the new capital commitments reinforce CLI’s reputation in the serviced residence sector. “Investors value CLI’s expertise in the living sector, having pioneered the serviced residence concept in Asia Pacific,” Goh noted.

The Tokyo asset, located in the bustling Shinjuku district, will undergo refurbishment to convert its hotel and residential components into a serviced residence managed by Ascott. The property, to be rebranded as Citadines Shinjuku Tower Tokyo, will offer a mix of studio suites and flats, catering to both corporate and leisure travellers.

Mak Hoe Kit, Managing Director of Lodging Private Equity Funds at CLI, emphasised Japan’s robust real estate market and the strategic advantage of securing the asset at an attractive price. He also mentioned plans to expand CLI’s lodging fund strategy to Europe, where demand for modern living spaces is rising.

The Shinjuku property is set to launch in phases from the second half of 2026, benefiting from the Shinjuku Masterplan 2040, which aims to attract more business travellers.
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A recent study by forex broker experts at BrokerChooser has revealed that 55% of Singaporeans consider themselves financially illiterate, with 52% unaware of their monthly expenditure. This knowledge gap is costing households between $1,997 and $5,410 each year. The study highlights that individuals with low financial literacy fare worse financially than those with higher literacy, even at similar income levels.

BrokerChooser analysed search data to identify the financial terms that confuse Singaporeans the most. ‘Equity’ tops the list, with 2,170 monthly searches in Singapore and 247,100 globally. Adam Nasli, Head Analyst at BrokerChooser, explained, “Equity is often misunderstood due to its broad usage. It represents the value an owner retains after settling debts. In the stock market, it refers to shares in a company, offering partial ownership and profit sharing.”

‘ETF (Exchange Traded Fund)’ ranks second, with 1,800 monthly searches in Singapore. An ETF is a fund traded on a stock exchange, allowing investors to diversify their portfolios with low fees and tax efficiency. ‘GDP (Gross Domestic Product)’ is the third most confusing term, with 1,500 searches. It measures the total market value of goods and services produced within a country.

Nasli emphasised the importance of financial literacy, stating, “With AI enabling sophisticated scams, understanding financial terms is crucial to managing money wisely and avoiding costly mistakes.” The study underscores the need for improved financial education to help individuals make informed decisions and build sustainable wealth.
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Singapore’s retail sector is expected to maintain its resilience in the second quarter of 2025, according to the latest Global Economics and Market Strategy Report by RHB Bank. The report, authored by Barnabas Gan, Group Chief Economist and Head of Market Research, highlights that government support measures and international events are key factors driving this stability. However, potential global headwinds could pose challenges in the latter half of the year.

The report identifies three domestic factors contributing to the retail sector’s performance in Q2 2025. These include the distribution of Singapore’s Budget Assurance Package, a series of retail events scheduled during the quarter, and a robust online sales environment. In April, retail sales in Singapore saw a modest increase of 0.3% year-on-year, with a similar month-on-month rise. Excluding motor vehicles, the growth was slightly higher at 0.8% year-on-year, though this was a slight dip from March’s 0.9% increase.

Despite these positive indicators, the report warns of potential challenges in the second half of 2025. “We anticipate Singapore’s retail climate to remain resilient in Q2 2025, driven by government support measures and international events, but may weaken in H2 2025 amid potential global headwinds,” Gan stated.

As Singapore navigates these economic dynamics, the retail sector’s performance will be closely watched, particularly as external factors begin to exert more influence in the coming months.
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