Industry News

Knight Frank Singapore and CBRE have announced the sale of a unique portfolio of four large-format Housing & Development Board (HDB) retail units through an Expression of Interest (EOI) exercise. Located in the bustling town centres of Ang Mo Kio, Bukit Merah, Clementi, and Toa Payoh, these fully-tenanted units present a rare investment opportunity in Singapore’s competitive retail market.

The portfolio, with a combined strata area of approximately 104,808 sq ft, includes properties with prominent street frontages and high footfall. Each unit spans two levels within standalone HDB commercial blocks, offering substantial income-generating potential. The properties are anchored by established tenants such as NTUC FairPrice and COURTS, ensuring a stable rental income.

Galven Tan, CEO of Knight Frank Singapore, highlighted the scarcity of such assets, stating, “With only approximately 8,500 HDB commercial units available for private ownership, this portfolio represents a truly scarce and highly sought-after investment opportunity.” Michael Tay, Executive Director of Capital Markets at CBRE Singapore, added that HDB town centres are vital for daily life in Singapore, serving as key destinations for dining, shopping, and leisure.

The properties are not subject to Additional Buyer’s Stamp Duty and Seller Stamp Duty, making them eligible for foreign purchase. The EOI exercise will close on 23 July 2025 at 3pm. This sale offers investors a chance to acquire prime retail assets in mature residential hubs, with potential for future repositioning and rent reversions.
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Beautique is setting a new benchmark in the beauty industry by merging scientific precision with luxury, offering personalised skincare and hair treatments across its four locations in Singapore. With outlets in Orchard, Toa Payoh, and Ang Mo Kio, Beautique provides accessible yet premium beauty care, ensuring clients receive consistent excellence and trusted solutions.

Founded on the principle that beauty should be both effective and elevated, Beautique offers a comprehensive range of advanced treatments for skin, body, hair, and scalp. Each service is meticulously crafted, combining clinical expertise with world-class skincare formulations to deliver visible improvements and long-term transformations. Clients are guided through a personalised journey, starting with expert consultations and continuing with treatments tailored to their individual needs.

Beautique’s offerings include a selection of globally renowned skincare brands, known for their performance-driven ingredients. These are paired with cutting-edge techniques such as microcurrent lifting and oxygen infusion, ensuring results that are both immediate and sustainable. Additionally, specialised hair and scalp treatments address concerns like thinning hair and oily scalps, using deep-cleansing and microcirculation-boosting methods.

The team at Beautique consists of highly experienced therapists and specialists, committed to a collaborative and transparent approach. This makes Beautique not just a beauty destination, but a long-term partner in self-care. For those seeking performance without compromising on experience, Beautique offers an intelligent and indulgent beauty philosophy.
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International law firm Withers has announced the appointment of Mohammed Reza as a Partner and Head of International Arbitration at Withers KhattarWong LLP, its Singapore branch. Reza, an experienced commercial disputes lawyer, brings a wealth of expertise in litigation and arbitration, particularly in cross-border disputes across sectors such as banking, energy, and insurance.

Reza’s move to Withers follows his leadership role in the dispute resolution practice at another leading international firm. His appointment is part of Withers’ strategic expansion in Asia, as the region continues to grow as a hub for international arbitration.

Peter Wood, CEO of Withers’ global dispute resolution division, highlighted the importance of resolving complex, cross-border disputes, stating, “Reza’s arrival enhances our international offering and reflects our continued commitment to providing market-leading dispute resolution services across key global centres.”

Chenthil Kumarasingam, Regional Division Leader for Dispute Resolution in Asia, praised Reza as an “outstanding lawyer” and noted the firm’s efforts to strengthen its disputes team in Singapore. Reza himself expressed enthusiasm about joining Withers, citing the firm’s investment in Asian disputes capabilities and the transformative period for international arbitration in the region.

Reza is a Fellow of the Singapore Institute of Arbitrators and serves as a Specialist Mediator with the Singapore International Mediation Centre. His roles in the legal community include membership on the Appeals Board of the Council for Estate Agencies and contributions to the Law Society of Singapore and Pro Bono SG.
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Amazon Singapore has announced that Prime Day 2025 will be its longest yet, spanning seven days from 8 to 14 July. This extension allows Prime members more time to explore deals across categories such as Home & Kitchen, Health and Personal Care, and Beauty on Amazon.sg. Exclusive discounts include up to 50% off on brands like FOREO, Sukin, and Dettol.

The event will feature Amazon.sg’s Everyday Essentials store, which offers over 100,000 frequently shopped items, including groceries and personal care products. This initiative aims to meet the growing demand for convenient online shopping in Singapore. Peter Li, Director of China & Singapore, International Stores at Amazon, stated, “We’re pleased to bring Prime Day back to Singapore with our longest event yet filled with incredible savings and exciting deals.”

Prime members can sign up for personalised deal alerts and enjoy benefits such as free one-day delivery on eligible items. New customers can start a 30-day free trial of Prime, which costs $3.65 (S$4.99) per month or $36.50 (S$49.90) per year. Additional perks include discounts on Amazon Fresh orders and Amazon.sg Gift Cards.

Amazon Singapore has also redesigned its homepage for a more personalised shopping experience, featuring easier navigation and quicker access to frequently repurchased items. As part of its Shop for Good initiative, Amazon invites customers to support local non-profit organisations by purchasing items from their wishlists during Prime Day.
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KFin Technologies, in collaboration with Ascent Fund Services and the Chartered Alternative Investment Analyst (CAIA) Association, hosted the Tech Transformation and Portfolio Construction in Alternative Investments and Private Wealth summit in May 2025 at M Hotel Singapore. The event gathered over 30 industry stakeholders to discuss the impact of technology on investment strategies.

The summit highlighted how artificial intelligence (AI), data analytics, and digital platforms are revolutionising portfolio construction across traditional and alternative asset classes. Sreekanth Nadella, Managing Director and CEO of KFin Technologies, introduced the company’s next-generation integrated platform aimed at modernising fund administration. Nadella stated, “At KFintech, we’re not just looking at fund administration as a back-office task—we see it as a powerful tool that can help investment firms work smarter, manage risk better, and connect more closely with their clients.”

A central panel discussion, “The Contrast of Public and Private Assets in the Portfolio Mix,” was moderated by Senthil Gunasekaran, Chief Business Development Officer at KFin Technologies. Panellists, including Alexandra McGuigan, Head of APAC at Qblue Balanced, and Steve Knabl, Managing Partner at Wealth Management Alliance, explored the influence of trade dynamics, regulatory frameworks, and investor behaviour on capital flow between asset classes.

Key topics addressed included the role of digital infrastructure in fund administration, interactions between public and private markets, and leveraging AI for asset-level analysis. The event concluded with a networking session, fostering partnerships within the regional investment community.
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Arctic Wolf, a leader in security operations, has announced significant enhancements to its Aurora Platform, aiming to alleviate the challenges faced by security teams in Singapore and beyond. The new features, unveiled on 17 June 2025, include self-service tools that eliminate the need for traditional Security Information and Event Management (SIEM) tuning, offering improved visibility, flexibility, and detection response.

The enhancements address the operational limitations of legacy SIEMs, which often require specialised staffing and manual tuning. These systems have become cumbersome, particularly in hybrid and cloud-first environments, due to long deployment timelines and high alert volumes. Arctic Wolf’s updated Data Explorer module allows security teams to build custom detection rules, run intuitive queries, and search historical data without the complexity of traditional SIEMs.

Chris Kraft, chief product officer at Arctic Wolf, stated, “Security teams shouldn’t need to fight with their SIEM to get fast answers to important questions. With Data Explorer, we’re enabling fast, intuitive access to critical insights, backed by the scale and intelligence of the Aurora Platform.”

The new capabilities include simplifying custom detections, advancing search capabilities, and enabling advanced queries across historical data. These updates provide a more intuitive way for teams to investigate threats and answer high-priority security questions, empowering them to act quickly and confidently.

Arctic Wolf’s enhancements are designed to offer a scalable alternative to legacy SIEMs, helping organisations operate with the agility needed to stay ahead of evolving threats. As security teams continue to face resource constraints and mounting threats, these tools promise to streamline operations and improve security outcomes.
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StarHub has been recognised in the 2025 Fortune Southeast Asia 500, ranking 187th amongst the region’s largest companies by revenue. This accolade coincides with StarHub’s 25th anniversary in Singapore, underscoring its dedication to innovation, customer satisfaction, and sustainable growth.

For the 2024 financial year, StarHub reported a total revenue of $2.4 billion, reflecting a 1.4% increase from the previous year. The company’s net profit rose by 7.7% to $161.7 million. The Enterprise segment was a significant growth driver, with revenue increasing by 14.1% as StarHub expanded its reach across the region. Meanwhile, the Consumer segment remained robust, with notable growth in Mobile and sustained leadership in Broadband and Entertainment.

Having first appeared on the Fortune Southeast Asia 500 list in 2024 at 184th place, StarHub continues to build momentum and expand its regional influence. Looking forward, the company aims to enhance its offerings in mobile, broadband, and entertainment, whilst also expanding its Enterprise Business and Modern Digital Infrastructure Platform, powered by Cloud Infinity.

As StarHub celebrates its 25th year, it remains committed to fostering trusted relationships and delivering value to customers, communities, and partners. More information on the Fortune Southeast Asia 500 can be found on their website.
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Marina Bay Sands has introduced a fleet of 12 Autonomous Mobile Robots (AMRs) to streamline back-of-house deliveries, marking a first in Singapore’s hospitality industry. These robots, typically used in factories, are now optimising operations at the hotel and Expo & Convention Centre, reducing labour dependency by up to 30%.

Before the AMRs, the integrated resort managed over 200 manual deliveries daily across 80 routes. With delivery volumes increasing by 35% between 2019 and 2023, automation became essential. The AMRs, capable of carrying up to 300kg and navigating 20 pre-programmed routes, have allowed staff to focus on higher-value tasks such as inventory management.

Shijith Prathapan, Vice President of Procurement and Supply Chain at Marina Bay Sands, stated, “Running a large-scale integrated resort like Marina Bay Sands requires effective workforce planning, and since day one, we have fostered a culture of productivity by investing in innovation.”

The resort’s commitment to innovation extends to food waste management. Since 2013, Marina Bay Sands has diverted nearly 10 million kg of food waste from landfills. In 2024, the resort completed a pilot of WasteMaster technology, converting food waste into fish feed, furthering its sustainability goals.

Meridith Beaujean, Executive Director of Sustainability, noted, “Through various technologies and best practices, we diverted 65% of our food waste in 2024, and hope to achieve 100% by end-2025.”

Marina Bay Sands continues to enhance productivity, with over 200 automated processes repurposing 162,000 manhours annually. The resort plans to introduce five more AMRs in the latter half of 2025.
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Singapore’s trade outlook remains uncertain as RHB Bank’s latest Global Economics and Market Strategy Report predicts a flat performance for the country’s non-oil domestic exports (NODX) in 2025. This forecast contrasts with official expectations of a 1% to 3% growth. The report, authored by Barnabas Gan, Group Chief Economist and Head of Market Research at RHB Bank, cites an unexpected 3.5% year-on-year decline in NODX for May 2025, reversing a 12.4% increase in April and falling short of market predictions of a 7.8% rise.

Despite a 90-day pause on tariffs, the report anticipates further slowdowns in the coming months due to easing global demand and weakening consumer spending, particularly as heavier US tariffs are set to take effect in the second half of 2025. Gan emphasises the need for vigilance, noting that the current economic climate presents significant challenges for Singapore’s trade sector.

The unexpected contraction in May’s NODX figures underscores the volatility in global trade dynamics. As Singapore navigates these uncertainties, the report suggests that businesses and policymakers should remain cautious and adaptable to shifting economic conditions. The findings highlight the importance of monitoring global demand trends and preparing for potential impacts on Singapore’s export-driven economy.
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Singapore’s non-oil domestic exports (NODX) experienced a notable decline of 3.5% year-on-year in May, according to a report by UOB Global Economics and Markets Research. This figure fell short of Bloomberg’s consensus estimate of a 7.8% increase and was closer to UOB’s own projection of a 2.3% rise. The data suggests a softening in front-loading momentum, with both overall non-oil re-exports (NORX) and electronics NORX showing a marked slowdown.

The electronics sector, a significant component of Singapore’s exports, saw its NODX growth slow to 1.7% year-on-year in May, down from 23.4% in April. This was largely due to weaker exports of personal computers and integrated circuits. Non-electronics NODX also contracted by 5.3%, with petrochemicals, non-monetary gold, and specialised machinery contributing most to the decline. However, pharmaceutical exports remained positive, possibly due to concerns over potential US tariffs.

The report highlighted that NODX to six out of Singapore’s top ten markets contracted, with exports to the US dropping by 20.6% year-on-year. Electronics exports to South Korea and Taiwan also eased significantly, indicating fatigue from earlier front-loading activities.

In light of these developments, UOB has adjusted its full-year 2025 NODX forecast to a range of 1.0-3.0%, down from the previous 2.0-4.0%. The bank cited concerns over potential new unilateral tariff rates and escalating geopolitical tensions in the Middle East as factors that could further impact trade activity in the second half of 2025.
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