Industry News

The Singapore Economic Development Board (EDB) and the Brabant Development Agency (BOM) have signed a Memorandum of Understanding (MOU) to enhance economic relations between Singapore and Brabant, the Netherlands. This agreement, announced on 20 May 2025, aims to develop complementary business ecosystems by facilitating knowledge exchanges, talent development, and joint research initiatives.

The collaboration will focus on several key sectors, including deeptech, digital technologies, climate-neutral energy solutions, health, and sustainable food systems. These areas encompass semiconductors, artificial intelligence, cleaner energy systems, medtech, and agritech, among others. The MOU leverages Singapore’s status as a business hub in Asia and the Netherlands’ position as a gateway to Europe, providing a platform for mutual growth and innovation.

Jermaine Loy, Managing Director of EDB, highlighted the significance of the partnership, stating, “This new MOU between Singapore and the Netherlands paves the way for closer collaboration between our business and innovation ecosystems.” Daan de Cloe, Managing Director of Foreign Investments & International Trade at BOM, added, “This MOU strengthens this relationship and offers a unique perspective on a common development of futureproof and game-changing industries.”

The agreement also includes plans to establish discussion platforms involving academic institutions, public-private partnerships, and investors to foster open innovation. Additionally, there will be opportunities for cross-border learning for students and academic staff from both regions.

This MOU marks a significant step in the 60-year trade relationship between Singapore and the Netherlands, promising to nurture competitive industries and talent in both countries.
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Skechers is set to unveil its newly revamped flagship store at Bugis Junction, Singapore, on 18 June 2025, with a special appearance by MINNIE from the global K-pop group i-dle. The event marks a significant milestone for the footwear giant as it expands its retail presence with a 4,112-square-foot space designed to enhance the shopping experience.

The Thai-born K-pop sensation, known for her trendsetting style and powerful vocals, will be the star attraction at the launch. Fans will have the opportunity to meet MINNIE through an exclusive giveaway, with over 100 slots available via in-store purchases and online contests. Details of the giveaway will be announced on Skechers Singapore’s Instagram page on 21 May 2025.

The revamped store promises a modern layout featuring an expanded range of performance and lifestyle products. Shoppers can expect exclusive zones and interactive elements that highlight Skechers’ commitment to innovation and comfort. The relaunch aims to provide a stylish and immersive shopping experience, reflecting the brand’s trendsetting flair.

The event will take place at Bugis Square, Level 1, Outdoor Area, starting at 5:30 PM. Fans and fashion enthusiasts are encouraged to follow Skechers Singapore on social media for further updates and details about the launch event.
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Singapore has climbed to the 4th position in the Global Startup Ecosystem Index 2025, up from 5th last year, according to StartupBlink. This marks a significant rise from 16th place in 2020, highlighting Singapore’s rapid growth as a leading startup hub. The city-state’s conducive business environment and strong investor presence have been pivotal in this ascent.

Enterprise Singapore (EnterpriseSG) attributes this success to the country’s ability to provide stability, resources, and market access despite global funding challenges. Assistant Managing Director Emily Liew emphasised Singapore’s openness to talent and collaboration, stating, “Enterprise Singapore will continue to strengthen the ecosystem and we welcome global startups with strong science-based solutions to leverage Singapore as a launchpad.”

EnterpriseSG supports over 4,500 tech startups with access to funding, ecosystem partners, and skilled talent. Singapore leads Southeast Asia in venture funding, securing nearly 60% of the region’s deal volume, with a total deal value exceeding $6.7 billion in 2024. The recent establishment of SG Growth Capital aims to enhance startup financing.

SLINGSHOT 2025, a global deep tech startup competition, will further energise the ecosystem by increasing grant prizes by 80% to over $2 million. The competition will culminate at the Singapore Week of Innovation and Technology (SWITCH) 2025. Past winners, like Thermalytica, have leveraged SLINGSHOT’s platform for growth and partnerships.

The call for SLINGSHOT 2025 applications is open until 11 July 2025, inviting startups to engage with Singapore’s dynamic ecosystem.
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ETC has announced the sale of a prime freehold corner shophouse located at 247 & 249 Joo Chiat Place in District 15. The property, currently home to the renowned Eng Seng Restaurant, is being offered through an Expression of Interest exercise, closing on 26 June 2025. This unique opportunity is highlighted by its permanent planning approval for “eating house” use, a rare asset in the East Coast/Joo Chiat area.

The shophouse boasts a land area of 509.3 sq m and a floor area of 273.7 sq m, with a guide price of $6.2m (S$8.5m). This translates to $1,130 (S$1,550) per sq ft on the land area and $2,100 (S$2,885) per sq ft on the floor area. The property is open to both local and foreign buyers and is exempt from Additional Buyer’s Stamp Duty and Goods & Services Tax.

Swee Shou Fern, Head of Investment Advisory at ETC, emphasised the property’s appeal: “Freehold eating houses are extremely tightly held and rarely available for sale, especially those with permanent F&B use. This is a unique opportunity for F&B operators seeking a strategic foothold, or for investors looking for an income-generating asset with long-term capital upside.”

The property’s strategic location offers excellent visibility and proximity to residential developments and amenities, including schools and hospitals. Its accessibility is further enhanced by nearby bus stops and Eunos MRT Station.

With the scarcity of such assets and the enduring appeal of District 15, this shophouse presents a compelling investment opportunity for those looking to capitalise on its commercial potential.

OHSOME, a trendy retail brand popular in Southeast Asia, has launched its first Singapore store at Suntec City Mall, offering a unique shopping experience with themed zones. The store, which opened on 20 May 2025, features a curated selection of lifestyle products, catering to modern shoppers who value creativity and convenience.

The store is divided into four distinct zones, each offering a variety of products. The Anime Collectibles Zone boasts merchandise from popular titles like “Jujutsu Kaisen” and “Attack on Titan,” appealing to anime enthusiasts. The Travel Zone simplifies packing with essentials such as ergonomic neck pillows and UV-protective sunscreens. For those seeking unique gifts, the Gifting Zone offers Disney-themed floral arrangements and quirky collectibles. Meanwhile, the DIY Zone provides materials for craft enthusiasts, including wool felting kits and journaling supplies.

An OHSOME representative stated, “Leisurely browsing and efficiently ticking off a shopping list should never feel like a compromise. OHSOME is designed to let visitors explore lifestyle products at their own pace whilst effortlessly finding what they need.”

The store also features exclusive Disney merchandise, including items from “Winnie the Pooh” and “Toy Story,” adding a nostalgic touch. Additionally, Mofusand exclusives and early-release “Lilo & Stitch” collectibles are available, creating excitement for fans.

With over 110 stores worldwide, OHSOME’s entry into Singapore marks a significant expansion. A second location is set to open at Tampines 1 on 23 May, further establishing the brand’s presence in the local market. The Suntec City store promises a vibrant retail experience, inviting visitors to explore products that inspire creativity and simplify daily life.
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SEMICON Southeast Asia 2025, the region’s premier semiconductor event, has commenced at the Sands Expo and Convention Centre in Singapore. Celebrating its 30th edition, the event returns to its inaugural location, highlighting Southeast Asia’s growing influence in the global semiconductor industry. The three-day event, themed ‘Stronger Together – Collaborating to Navigate Uncertainties and Fostering Resilience’, features innovation showcases, talent programmes, and strategic partnerships.

The event’s highlight, the CEO Summit, gathered top semiconductor leaders to discuss economic volatility, supply chain disruptions, and technological advancements. Notable speakers included Dr. Prabu Raja of Applied Materials, Tim Breen of GlobalFoundries, and David Goeckeler of Sandisk. Their insights are expected to shape the industry’s strategic direction.

SEMICON Southeast Asia 2025 anticipates over 20,000 attendees and features more than 1,400 booths from 700 exhibitors. Key initiatives include workforce development programmes like the Semiconductor Regional HR Forum and TalentCONNECT, sustainability efforts through the Global Climate Summit Workshop, and strategic networking opportunities such as the Star Buyers Programme.

Ajit Manocha, President and CEO of SEMI, emphasised the event’s role in forging global alliances amidst industry challenges. Linda Tan, President of SEMI Southeast Asia, highlighted the region’s vital role in the semiconductor industry’s transformation. The event runs until 22 May, offering a platform for innovation and collaboration.
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SuperPark Singapore, the largest indoor activity park in a shopping centre, is set to reopen on 25 May 2025 at Suntec City, boasting a significant upgrade. The revamped park now spans 25,000 square feet over two levels and features 34 activities, including 13 new installations. Operated by The DreamUs Group, the park is designed around three enhanced play zones: Freestyle Hall, Games Arena, and Adventure Area.

The park’s new offerings include eight convertible party rooms, ideal for birthdays, school trips, and team-building events. Additionally, the introduction of the Super Recharge Café provides a vibrant space for visitors to enjoy hotdogs, pizzas, and fruity slushes, turning breaks into social moments.

To celebrate its relaunch, SuperPark Singapore is offering a Limited-Time Early Birds Promotion until 24 May 2025. The first 500 tickets are available at a 20% discount using the code SUPER20, with a 10% discount on subsequent admissions using SUPER10. Party packages also receive a 10% discount with the code SUPERPARTY10.

The park’s new entrance is conveniently located at Level 1, facing Olivia & Co, making access easier for visitors. This upgrade reaffirms SuperPark Singapore’s commitment to providing fun for all ages, ensuring a dynamic and engaging experience for everyone.
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Anytime Fitness Singapore has achieved a significant milestone by opening its 125th club just three months into 2025. This rapid expansion underscores the brand’s commitment to providing 24-hour access to high-quality fitness facilities across the nation. Johannes Raadsma, President and Co-Founder of Inspire Brands Asia, the master franchisee for Anytime Fitness Asia, expressed excitement over reaching this milestone, highlighting the growing demand for accessible and flexible fitness solutions.

The expansion is part of a broader strategy to enhance the fitness journey for individuals throughout Singapore. The new clubs are strategically located in residential areas, commercial districts, and town centres, ensuring convenience for members. Among the new openings are Anytime Fitness Yishun East, Concourse, Tekka Place, Balmoral, Bukit Merah, Tengah, Clementi 354, and Kaki Bukit.

Mark De Joya, Chief Operating Officer of Inspire Brands Asia, emphasised the company’s shift towards pricing transparency, making membership costs readily available online. This initiative aims to provide prospective members with a seamless experience in exploring their options.

Luke Guanlao, Group CEO and Co-Founder of Inspire Brands Asia, reiterated the brand’s mission to create an inclusive and motivating environment. “Our mission goes beyond opening clubs—we are committed to creating an inclusive and motivating environment where everyone feels supported in their fitness journey,” he stated.

With plans to reach 200 clubs within the next decade, Anytime Fitness continues to lead the industry by offering state-of-the-art facilities, personalised training support, and a welcoming community. The brand also upgraded its Smart Coaching Ecosystem, the AF App, to enhance members’ holistic health and fitness experiences.
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Quantified Energy, a Singapore-based deep-tech company, has announced the successful completion of its Series A funding round, led by Vertex Ventures Southeast Asia & India. This investment aims to accelerate the global expansion of Quantified Energy’s drone-based solar inspection technology, which was developed as a spin-off from the Solar Energy Research Institute of Singapore at the National University of Singapore.

Founded in 2021, Quantified Energy has pioneered an autonomous drone electroluminescence mapping solution, providing inspection services for utility-scale and commercial solar systems. The company recently completed the world’s largest electroluminescence inspection, covering over one million photovoltaic modules in just three weeks. This achievement underscores the growing demand for efficient solar inspection solutions, as BloombergNEF projects 4.5 terawatts of new solar capacity by 2030.

The funding will enable Quantified Energy to roll out its second-generation drone inspection solution globally. The company plans to introduce a “pay-per-use” model for DJI M300/M350 drone operators, allowing them to perform high-throughput inspections. CEO Yan Wang stated, “With this new round of funding, we will be rolling out our second-generation drone EL inspection solution globally.”

Quantified Energy has already deployed its solutions across Asia, Europe, Oceania, and the Middle East. A recent Memorandum of Understanding with TÜV Rheinland at Intersolar Europe 2025 will further drive the adoption of their technology in European markets. Vertex Ventures Partner Puiyan Leung commented, “We are excited to work with Quantified Energy to bring their innovations to the global solar market.”

With this strategic investment, Quantified Energy is poised to enhance solar asset management and financing, contributing to the renewable energy transition worldwide.
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The rise of “kidults”—adults indulging in emotional spending and viral-trends collecting—has typically been associated with Millennials and Gen Z. However, new insights from Carousell, a leading multi-category recommerce marketplace, reveal that older collectors are emerging as key players in Singapore’s booming collectibles scene.

A recent Carousell poll found that 42% of users in the Hobbies & Toys category are aged 41 and above. Within this group, those aged 41–50 form the largest segment, accounting for nearly 30% of all collectors. This demographic is also the second-highest spending group, with 40% reporting annual expenditures exceeding S$1,000—just behind the 26–30-year-olds at 56%.

Among collectors aged 41 and above, 76% have been collecting for over five years, showcasing a strong commitment to the hobby. Interestingly, 14% of this age group started collecting within the past year, indicating a growing interest. Many Gen X collectors integrate collecting into their weekly routines, with nearly half browsing for collectibles at least once a week. Additionally, 47% actively organise and catalogue their collections, often using digital tools.

Figurines and toys are the most popular collectibles across all ages, with LEGO being particularly favoured among older collectors. This blend of modern and nostalgic preferences highlights how older collectors balance traditional interests with contemporary trends.

Carousell’s data from Q1 2025 supports these findings, showing a growing interest in collectibles that span generations. Popular searches include figurines like “Labubu” and “Mofusand”, trading cards such as Pokémon, and toys like LEGO and Jellycat plushies.

As collecting gains popularity, Gen X is not merely participating but actively shaping the scene alongside younger “kidults”. Their passion and willingness to spend add a deeper layer of generational diversity to Singapore’s collecting community.
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