Industry News

Seagate Technology has unveiled its “Decarbonising Data” report, revealing significant sustainability challenges for Singapore’s data centres as they strive to meet the increasing demands driven by artificial intelligence (AI). The report, released on 16 April 2025, highlights that Singapore requires an estimated $5.5 billion investment to make its data storage operations sustainable, exceeding the global average of $4.9 billion.

The report underscores the growing pressure on businesses to scale data centres rapidly whilst managing energy consumption and costs sustainably. Key findings indicate that 70% of Singaporean respondents cite limited access to alternative electricity sources as a major obstacle, with 33.3% also pointing to workforce training costs as a significant challenge.

AI is a major driver of increased demand, with all Singaporean respondents agreeing that AI will significantly impact the need for data centre operations. More than half reported rising demand for data storage within their companies, placing Singapore among the top three markets globally.

Despite 90% of respondents expressing environmental concerns, sustainability remains a low priority in purchasing decisions for data storage infrastructure. Jason Feist, Seagate’s senior vice president of cloud marketing, stated, “Data centres are under intense scrutiny—not only because they support modern AI workloads, but because they are becoming one of the most energy-intensive sectors of the digital economy.”

The report suggests that organisations can achieve both cost efficiency and sustainability by improving existing infrastructure, expanding data centre footprints, or migrating workloads to the cloud. It also outlines three strategic pillars for sustainable data growth: technological innovation, life cycle extension, and shared accountability across the ecosystem.

As global electricity demand from data centres is predicted to double by 2030, addressing these sustainability challenges is crucial for Singapore to maintain its competitive edge as a data centre hub.
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Seveno Capital, a new Singapore-based venture capital fund, has launched with a $70m commitment from wellness entrepreneur Allen Law, marking a significant move in the healthspan investment sector. The fund aims to support early and growth-stage ventures that enhance human healthspan, with its first investment in Japan-based A Cabin Company, which transforms unused rural land into wellness cabins.

Allen Law, founder of Park Hotel Group, will serve as Principal at Seveno Capital. He has been building a global portfolio focused on fitness, wellness, and longevity since 2023. Law stated, “We are proud to launch Seveno Capital with an inaugural investment in A Cabin Company. Nature is a pillar of lifestyle medicine, and A Cabin Company is rethinking human wellbeing.”

A Cabin Company, founded by Mori Nishimura, creates compact, design-forward cabins on rural land near major cities. These cabins, classified as vehicles, avoid zoning regulations and infrastructure costs, allowing rapid deployment. The company plans to open its first location in Chiba, Japan, and expand to Seoul, New York, and Europe, with 380 cabins planned across Greater Tokyo and Osaka by 2029.

Nishimura highlighted the importance of reconnecting with nature, stating, “With backing from Seveno Capital, we’re unlocking life in ‘the in-between’—the quiet, often overlooked spaces where the city ends and the wild begins.”

Seveno Capital’s investment underscores a growing trend in wellness and longevity, focusing on improving healthspan rather than just lifespan. The fund aims to cultivate a thriving ecosystem of impact-first businesses that enhance human health and well-being.
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China Everbright Water Limited, a company listed on the Singapore Exchange, has successfully issued the second tranche of its 2025 medium term notes, attracting significant interest from institutional investors in mainland China’s national inter-bank bond market. The issuance, completed on 16 April 2025, saw a subscription rate of 3.28 times, highlighting strong market confidence in the company’s prospects.

The 2025 Second Tranche Medium Term Notes (MTNs) have a principal amount of RMB1 billion, a five-year maturity period, and an interest rate of 1.90%. The proceeds are earmarked for repaying Everbright Water’s outstanding debts. Both the notes and the company have been rated “AAA” by Shanghai Brilliance Credit Rating & Investors Service Co., Ltd. Everbright Securities Company Limited led the underwriting, with China Construction Bank Corporation, Shanghai Pudong Development Bank Co., Ltd., Ping An Bank Co., Ltd., and China Minsheng Banking Corp., Ltd. acting as joint lead underwriters.

This issuance follows the company’s December 2024 registration of multiple debt financing instruments totalling RMB8 billion, approved for issuance in various tranches. In January 2025, Everbright Water issued the first tranche of its 2025 MTNs, amounting to RMB1.5 billion, achieving a record-low interest rate of 1.78% for panda bonds with a three-year maturity.

The successful issuance of the 2025 Second Tranche MTNs underscores the market’s support for Everbright Water. The company plans to continue monitoring economic trends and exploring innovative financing models to optimise its debt structure and control costs. This strategic approach aims to provide stable capital support amid challenging market conditions.
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CSE Global, a company listed on the Singapore Exchange, is capitalising on the megatrends of urbanisation, electrification, and artificial intelligence (AI) to drive growth. In the financial year 2024, the company’s revenue increased by 18.8% year-on-year to S$861 million, with net profit also seeing a rise. This growth is attributed to the company’s strategic focus on mission-critical solutions that support major operations such as power grids, manufacturing, and data centres.

The company’s solutions are pivotal in several areas, including electrification, where they design and integrate complex electrical distribution systems for data centres. In communications, CSE Global develops advanced network systems to enhance safety and performance. Additionally, their automation solutions include setting up safety shutdown and production control systems, ensuring seamless operations.

CSE Global recently raised S$24 million through a placement of 60 million shares. The proceeds are being utilised to further strengthen their business segments, which are expected to evolve significantly over the coming years. The company is poised to continue leveraging these industry trends to sustain its growth momentum.

The insights into CSE Global’s strategies and future plans are part of the “10 in 10” series, which provides a concise overview of SGX-listed companies through a series of management Q&As. This initiative aims to offer a deeper understanding of the company’s objectives and the broader industry landscape.
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Homegrown water purifier brand Happie is marking its third anniversary with a series of significant developments, including the opening of a new Experiential Centre at 1 Sims Lane in Singapore and a nationwide ‘Shop & Win’ giveaway. The giveaway, in collaboration with Volt Auto, offers customers the chance to win a Dongfeng Box EV worth over $90,000. This campaign runs from 3 March to 6 September 2025, with all purchasers of Happie water purifiers during this period automatically entered into the draw.

Founded in 2022 by Benjamin and Sharon, Happie has rapidly expanded, serving over 20,000 customers with its minimalist, Korean-tech-powered water dispensers. The new 1,400 sq ft centre, an upgrade from their previous 900 sq ft space, is designed to host live demonstrations and community events, enhancing customer engagement. “This new centre is more than just a showroom—it’s a reflection of what Happie stands for: simple, beautiful solutions that make life easier,” said founder Benjamin Ling.

Adding to the celebration, Singaporean media icon Zoe Tay has been announced as Happie’s brand ambassador. Tay, known for her commitment to healthy living, praised the brand’s eco-conscious design and energy-saving features. “I believe in choosing products that support a greener future,” she stated.

Looking ahead, Happie plans to expand its product range beyond water purifiers, with a new home appliance set to launch in Q4 2025. This move aims to establish Happie as a broader household name, building on its foundation of premium purification solutions.
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Singapore is set to transform its oncology landscape with the introduction of ultrasound-based histotripsy trials, a non-invasive technology aimed at improving outcomes for liver, kidney, and pancreatic cancer patients. The Li Ka Shing Foundation and Temasek Trust have committed $8.8 million (SGD12 million) to fund these trials, marking the first of their kind in Southeast Asia. The trials will be conducted at the National Cancer Centre Singapore and the National University Cancer Institute, Singapore, involving 40 patients.

Histotripsy employs focused ultrasound to create microbubbles that expand and collapse, generating shock waves to disintegrate tumours at the cellular level. Unlike traditional surgical or radiation treatments, histotripsy offers a pain-free, bloodless, and incision-free alternative, even for inoperable tumours. Jyoti Sharma, a Medical Devices Analyst at GlobalData, stated, “The advent of histotripsy represents a significant advancement in non-invasive oncology treatment.”

The funding will equip both cancer centres with a histotripsy system each, enhancing Singapore’s position in global cancer research and innovation. Sharma added, “By leveraging advanced technology and fostering cross-sector collaboration, Singapore not only enhances the treatment options available to its local patients but also establishes itself as a regional leader in medical research and innovation.”

This initiative underscores Singapore’s commitment to advancing cancer treatment and could pave the way for broader applications of histotripsy in oncology, potentially offering new hope for patients with previously untreatable tumours.
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The latest retail report from Knight Frank Singapore reveals a burgeoning food and beverage (F&B) sector, with 3,793 new F&B establishments opening in 2024, against 3,047 closures. This trend suggests an oversupply in the market, prompting calls for regulatory measures to ensure sustainability. Ethan Hsu, Head of Retail at Knight Frank Singapore, noted the need for market cooling measures to maintain a sustainable sector.

Prime retail rents in Singapore showed marginal growth in Q1 2025, with Orchard rents at S$31.20 per square foot per month and suburban areas at S$26.80. Despite this, the retail environment remains challenging due to rising operational costs and labour constraints. The average gross rent of prime retail spaces increased by 0.3% quarter-on-quarter to S$27.90 per square foot per month.

Visitor arrivals in Singapore are on the rise, with 3 million international visitors recorded in January and February 2025, indicating a recovery towards pre-pandemic levels. However, a decline in February’s figures, coupled with impending US tariffs, could signal future challenges.

The report also highlights the rapid expansion and subsequent closures within the F&B sector, with notable closures including Eggslut and Burger & Lobster. The proliferation of F&B outlets, particularly in malls, raises concerns about market saturation. Hsu suggests potential regulatory controls, such as limiting F&B licences and capping net lettable areas, to manage growth sustainably.

As Singapore’s retail sector grapples with high costs and market uncertainty, the report underscores the importance of timely measures to prevent further strain on the F&B landscape.
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Singapore is considering the development of a new Meetings, Incentives, Conferences, and Exhibitions (MICE) hub in the Orchard area, according to a recent report. The Orchard HPL redevelopment site is a strong contender for this initiative, which is part of the Singapore Tourism Board’s (STB) strategy to increase MICE tourist receipts to 10% by 2040. This move is expected to attract more short-stay business travellers, who currently make up about 37% of the inbound market.

The potential transformation of the Orchard area could see older hotels, such as Orchard Hotel and Orchard Rendezvous Hotel, rejuvenated under the Strategic Development Incentive scheme. This initiative aims to revitalise the hospitality sector, which is poised to benefit from upcoming events like the Lady Gaga concert in May 2025, expected to stabilise hotel occupancy rates.

Singapore Real Estate Investment Trusts (S-REITs) are also showing promising returns, trading at forward yields of 6.7%. Notably, CapitaLand Ascott Trust (CLAS), CDL Hospitality Trusts (CDLHT), and Far East Hospitality Trust (FEHT) offer yields of approximately 7% or higher. The report highlights that historically, investors who bought at 0.8 times price-to-book ratios have seen positive returns within a year.

As macroeconomic uncertainties persist, investors are likely to adopt a conservative approach, favouring retail, industrial, and office sectors over hotels. However, the report suggests that value investors could find opportunities in Mapletree Pan Asia Commercial Trust (MPACT), FEHT, Sasseur REIT, and Frasers Logistics & Commercial Trust (FLT).

In summary, Singapore’s plans to develop a new MICE hub in Orchard could significantly boost the hospitality sector, whilst S-REITs continue to offer attractive investment opportunities amidst economic uncertainties.
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Hey Chips, a leading clean snack brand in Singapore, has launched Hey Fruit Bites, the country’s first clean-label fruit bites snack. This innovative product, made from freshly fermented yoghurt and real fruits, offers a healthier alternative to the ultra-processed snacks currently dominating the market. The founders, Emily and Hayden, were inspired to create Hey Fruit Bites after struggling to find genuinely clean snacks for their baby.

Hey Fruit Bites is crafted with 60% fresh yoghurt, fermented in-house, and 40% real fruit slices. The snack is freeze-dried at 30ºC to retain up to 97% of its nutrients, providing a crunchy texture with probiotics and superfood benefits. “In a market flooded with overly processed snacks, we saw a gap for something clean and enjoyable,” said Emily, one of the founders. The snack is designed to appeal to all ages, from babies to adults, and is perfect for various occasions, including office pantries, school bags, and outdoor adventures.

Available in four flavours—Strawberry, Mixed Berry, Mango Banana, and Mango Passion—Hey Fruit Bites can be purchased at Cold Storage, CS Fresh, and online platforms across Singapore. Founded in 2018, Hey Chips has gained recognition for its quality snacks, free from added sugar, chemicals, and artificial flavourings, earning seven UK Great Taste Awards. The founders, former architect Emily and engineer Hayden, are committed to changing the way food is manufactured, promoting clean eating and outdoor living.
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Mercedes-Benz Singapore has unveiled its latest line-up of electric commercial vehicles, the eCitan, eVito, and eSprinter, aimed at transforming urban logistics and commercial transport. These vehicles, launched on 16 April, are designed to meet the diverse needs of businesses with a focus on efficiency, technology, and safety.

Marcel Luis Mustelier Perez, President and CEO of Mercedes-Benz Singapore, highlighted the company’s commitment to electric mobility, stating, “Our newly expanded line-up of fully electric commercial vehicles demonstrates Mercedes-Benz’s commitment to accelerating electric mobility in Singapore.” The vehicles offer a comprehensive solution tailored to business needs, including vehicle customisation, advanced safety features, and robust aftersales support.

The new models promise a smooth driving experience with carbon-neutral emissions, making them suitable for everyday use in urban settings. The eCitan is priced at $144,988, the eVito at $163,988, and the eSprinter at $213,888, with prices subject to change based on prevailing COE.

These electric vehicles are expected to set new standards in the industry, providing businesses with reliable and sustainable transport options. As Mercedes-Benz continues to innovate, the introduction of these models marks a significant step towards a more sustainable future in commercial transport.
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