Industry News

Brilliance Capital Pte. Ltd. has announced the sale of five adjoining freehold conservation shophouses located at 185 to 193 Joo Chiat Road. These properties, situated in a vibrant and heritage-rich area, present a unique opportunity for investors seeking prime commercial assets with potential for redevelopment and long-term growth.

The shophouses cover a total land area of approximately 6,185 square feet and boast a combined gross floor area of about 14,647 square feet. They are designed with a two-storey front and attic, along with a three-storey rear extension. Zoned as ‘Commercial’ under the 2019 URA Master Plan, the properties offer redevelopment opportunities, including the potential to extend the rear to five storeys, subject to approval.

Strategically positioned on a prominent corner plot with dual road frontages, the shophouses benefit from excellent visibility and accessibility. The ground-floor units are fully leased to reputable Food & Beverage operators and lifestyle brands, generating strong rental yields. Notably, four of the five units have rare Restaurant Use approvals, enhancing their value.

Joo Chiat has become a sought-after lifestyle and retail destination, attracting niche and luxury brands. The area’s appeal is further boosted by its connectivity and unique charm, making it attractive to boutique businesses and high-end brands.

The properties are available for collective or individual sale, with an adjusted asking price of S$59.8 million, and approximately S$11.96 million per shophouse. The Expression of Interest closes on 25 March 2025. Sammi Lim, Founder and Executive Director of Brilliance Capital, highlighted the rarity and potential of this offering, emphasising its strategic location and branding opportunities.

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. While we strive for accuracy, mistakes can happen. If you spot an error, please report it at contact@newsflashasia.com.

A recent study by Qualtrics has revealed that Singaporean employees are sceptical about their leaders’ ability to implement artificial intelligence (AI) effectively. The research, which surveyed over 1,000 workers in Singapore, found that only 50% of managers and individual contributors trust their leaders to manage AI adoption successfully. This figure is 17 percentage points lower than the trust levels reported by senior leaders themselves.

The study highlights significant gaps in perception between leaders and their teams regarding AI’s impact on work. While 67% of senior directors express positive sentiment towards AI, only 46% of managers share this view. Additionally, less than half of the employees believe their bosses will prioritise people’s wellbeing over profits when introducing new technologies.

Dr. Cecelia Herbert, Workplace Behavioural Scientist at Qualtrics, emphasised the importance of building trust between employees and leaders during AI adoption. “As leaders explore the potential of AI, it cannot be overstated how critical it is for leaders to build trust with employees,” she stated.

The research also indicates that most Singaporean workers plan to use the time saved by AI to improve efficiency (57%) and work quality (50%), rather than increasing output. This contrasts with leaders’ expectations of a productivity surge following AI implementation.

Qualtrics’ findings underscore the need for organisations to align on AI’s purpose, provide adequate training, and ensure ethical guidelines are in place. By addressing these challenges, companies can enhance employee trust and fully realise AI’s potential benefits.

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. While we strive for accuracy, mistakes can happen. If you spot an error, please report it at contact@newsflashasia.com.

CDL Hospitality Trusts (CDREIT SP) is poised to benefit from its recent UK acquisitions, despite a 7% year-on-year decline in its full-year distribution per unit (DPU) for the financial year 2024. The DPU fell to 5.32 Singapore cents as Singapore hotels continued to experience revenue per available room (RevPAR) softness into the fourth quarter of 2024. However, the trust remains optimistic about its growth prospects in 2025.

The company expects its acquisitions, including Indigo Exeter and Benson Yard, to counterbalance the flat RevPAR forecast for Singapore hotels. Additionally, the ongoing asset enhancement initiative (AEI) at W Hotel, which includes room upgrades, is anticipated to contribute positively to the trust’s performance.

CDL Hospitality Trusts is also set to benefit from interest rate cuts, with 34% of its loan book due for refinancing in the financial year 2025 and a low fixed hedge ratio of 32%. The trust has maintained a “BUY” recommendation, albeit with a lower target price of SGD1.10, citing an attractive yield of 6.2% and potential interest rate savings as upside factors.

The Housing Development Board (HDB) has unveiled its February 2025 Build-to-Order (BTO) exercise, offering 5,032 new flats across five projects in Kallang/Whampoa, Queenstown, Woodlands, and Yishun. This launch is complemented by the largest Sale of Balance Flats (SBF) exercise to date, featuring 5,590 units. Notably, 40% of the SBF units are already completed, whilst 80% of the BTO flats have waiting times of four years or less.

PropNex CEO Ismail Gafoor anticipates strong interest in the SBF units, especially among applicants seeking quicker occupancy. The BTO application rate is expected to be around three times, slightly lower than the 4.2 times seen in October 2024, due to the significant SBF supply. The February BTO exercise includes 38.5% Prime/Plus flats and 61.5% Standard flats.

Key projects such as Stirling Horizon in Queenstown and Tanjong Rhu Parc Front in Kallang/Whampoa are expected to attract high demand. Stirling Horizon, with 1,126 units, is situated in a well-established area with ample amenities, whilst Tanjong Rhu Parc Front offers potential panoramic views and proximity to the Kallang Alive master plan. Both projects are predicted to see application rates between 2.5 to 3.5 times.

In Yishun, the Chencharu Vines and Chencharu Green projects, offering a total of 1,531 flats, are expected to garner an application rate of about three times, despite potential noise concerns from the nearby Sembawang Air Base. Meanwhilst, Woodlands North Verge, the largest project with 1,563 units, is anticipated to have an application rate of 1.5 to 2 times.

The next BTO exercise is scheduled for July 2025, with approximately 5,400 flats across eight projects in various towns, including Bukit Merah and Clementi.

Design Bridge and Partners (DBP), a global leader in brand design and strategy, has appointed Charlie Lowe as the APAC Chief Strategy Officer, effective immediately. With more than 15 years of experience in strategic leadership, Lowe is set to enhance DBP’s strategic vision across the Asia-Pacific region.

Lowe’s career includes a decade at Ogilvy, where he worked in major global hubs such as Melbourne, Beijing, Singapore, and New York. His collaborations with brands like IBM, VW, and Nestlé have earned him multiple accolades, including Effies and a Webby Award. Most recently, as Strategy Head at McCann Worldgroup Southeast Asia, Lowe led significant growth and secured major business wins, contributing to the agency being named Integrated Marketing Agency of the Year.

In his new role at DBP, Lowe will oversee strategic capabilities across the region, working closely with regional leads and the global Chief Strategy Officer. His focus will be on elevating the agency’s strategic offerings and spearheading key client projects. Lowe’s extensive experience in corporate branding and integrated strategy will be crucial in shaping DBP’s approach to creating meaningful brand interactions.

Alexandra Cerruti, APAC Managing Director of DBP, praised Lowe’s unique perspective, stating, “Charlie isn’t your typical brand strategist. His deep passion for brands, combined with his strategic insight, will be invaluable in helping us deliver holistic solutions that truly resonate with our clients.”

Lowe’s appointment underscores DBP’s commitment to enhancing its strategic offerings in the APAC region, aiming to design impactful brand interactions and accelerate growth across key markets.

OUE Healthcare Limited (OUEH), the healthcare arm of Singapore-based OUE Limited, has announced a strategic partnership with Zhongda Hospital Southeast University, a leading Grade 3A General Hospital in Nanjing, China. This collaboration aims to bolster the medical offerings of Changshu China Merchants – Lippo Obstetrics & Gynaecology Hospital (Changshu Hospital) in Jiangsu Province, China, a joint venture between OUEH and China Merchants Group.

Dr Stephen Riady, Executive Chairman and CEO of OUE, highlighted the partnership’s significance, stating, “Zhongda Hospital is a national leader in critical care medicine and cardiovascular disease services. This collaboration will enhance Changshu Hospital’s medical service offerings, providing Changshu residents with more accessible and higher-quality healthcare services.”

The partnership will focus on various areas, including scientific research, education, and management, and will establish a two-way green channel for patient access between the two hospitals. This initiative is expected to facilitate cross-referrals and advance clinical services at Changshu Hospital.

Changshu Hospital, the first private Obstetrics and Gynaecology hospital in Changshu city, offers premium medical services and aims to integrate Zhongda Hospital’s expertise with Singapore’s patient care framework. Yet Kum Meng, CEO of OUEH, expressed commitment to delivering sustainable, patient-centred healthcare services that align with China’s healthcare reform priorities.

This partnership follows a similar collaboration with Shanghai Changzheng Hospital, marking another milestone for Changshu Hospital in integrating top-tier public healthcare resources. The hospital, spanning 23,000 square metres, targets the affluent market and includes a confinement centre and medical aesthetics services.

OUEH continues to expand its healthcare footprint in Asia through strategic partnerships and regional growth initiatives.

In a groundbreaking study, researchers from Duke-NUS Medical School and the National Neuroscience Institute have identified a significant link between gut microbes and anxiety-related behaviour.

Published in EMBO Molecular Medicine, the study reveals that microbial metabolites, particularly indoles, play a crucial role in regulating brain activity associated with anxiety.

The research highlights the growing prevalence of mental health disorders in Singapore, where one in seven individuals has experienced such conditions. The team conducted pre-clinical studies showing that germ-free environments, devoid of live microbes, resulted in heightened anxiety-related behaviour. This was linked to increased activity in the basolateral amygdala, a brain region involved in processing emotions like fear and anxiety.

Associate Professor Shawn Je from Duke-NUS explained, “Our findings reveal the specific and intricate neural process that links microbes to mental health. Those without any live microbes showed higher levels of anxious behaviour than those with live bacteria.”

The study further demonstrated that introducing live microbes or indoles to germ-free mice reduced anxiety-related behaviour by modulating neuronal activity. This suggests that indigenous microbes producing indoles could be harnessed for probiotic therapies aimed at reducing anxiety.

Professor Sven Pettersson from the National Neuroscience Institute noted the potential for targeting the gut-brain axis to treat anxiety disorders. He stated, “It opens the door for tailor-made therapies in line with 21st-century precision medicine.”

The researchers are now exploring clinical trials to assess the efficacy of indole-based probiotics or supplements in humans. If successful, this could pave the way for innovative mental health treatments that leverage gut microbes to maintain mental well-being.

Lifeline Cleaning, a prominent cleaning service provider in Singapore, has launched a corporate social responsibility (CSR) initiative to support the Singapore Association of the Visually Handicapped (SAVH) during the Chinese New Year celebrations.

This initiative includes a festive get-together at SAVH’s facilities, aimed at enhancing the environment for the visually impaired community and promoting inclusivity.

The CSR initiative by Lifeline Cleaning involved several activities designed to spread festive cheer. The company distributed Ang Baos, a traditional Chinese New Year gift symbolising blessings, to SAVH members. Additionally, a breakfast-sharing session was organised to foster community connections, and cakes and pastries were provided for members to take home, further spreading joy.

Roy Tan, Business Development Corporate Accounts at Lifeline Cleaning, stated, “Our collaboration with SAVH for Chinese New Year allows us to honour the festive season while contributing to a cleaner, healthier, and more joyful environment for the visually impaired community.”

The initiative also included participation from 45 visually impaired elderly beneficiaries from the daycare group, along with SAVH staff, some of whom are partially blind. This effort underscores Lifeline Cleaning’s commitment to supporting vulnerable community members through various outreach activities.

Lifeline Cleaning has a history of incorporating CSR as a core element of its operations, previously collaborating with organisations supporting the elderly and other underserved groups. The company plans to expand its CSR initiatives to additional non-profit organisations, leveraging its expertise to create safe, hygienic, and inclusive environments for underserved communities.

Parkway Life Real Estate Investment Trust (PLife REIT) has announced a 1% increase in its distribution per unit (DPU) for the full year 2024, reaching 14.92 pence.

This growth comes despite the impact of equity funding raising, which, if excluded, would have resulted in a 2.3% higher DPU compared to the previous year.

The trust remains committed to its Singapore base while strategically diversifying into Europe with the acquisition of 11 nursing homes in France.

The acquisition in France was completed at approximately 3.7% below valuation, marking PLife REIT’s strategic entry into a third key market. This move was fully financed through a successful equity funding raising via a private placement, which raised approximately $180m.

PLife REIT maintains a healthy gearing ratio of 34.8%, with no long-term debt refinancing needs until September 2026. This financial stability supports its ongoing expansion and diversification strategy. The trust’s net asset value per unit increased to $2.41, up from $2.34 the previous year.

The trust’s financial statements reveal a total return after tax of $95.04m for 2024, a slight decrease from $100.47m in 2023. Despite this, the trust’s strategic moves and financial health position it well for future growth.

Looking ahead, PLife REIT’s expansion into Europe signals its commitment to diversifying its portfolio and enhancing returns for unitholders. The trust’s focus on strategic acquisitions and financial prudence continues to underpin its growth trajectory.

StarHub, in collaboration with Nokia, has completed the nationwide rollout of its XGS-PON network, connecting hundreds of thousands of homes across Singapore to 10 Gbps internet speeds.

This development marks StarHub as the first operator globally to fully migrate to a software-defined access network using Nokia’s AI-driven Altiplano platform, enhancing the capacity for bandwidth-intensive applications such as AI, immersive gaming, and advanced security.

The upgraded network is a significant step in supporting Singapore’s Digital Connectivity Blueprint, a government strategy aimed at boosting the national economy and improving citizen well-being through next-generation digital infrastructure. Nokia’s Altiplano Access Controller will enable StarHub to automate network operations, detect issues proactively, and optimise performance, thereby enhancing customer experience.

Lee Yeu Ching, Vice President of Fixed and Media Networks at StarHub, stated, “We have set ambitious goals to advance our network, aiming to enhance user experience and operational efficiency. Nokia, our longstanding partner, has played a vital role in the successful completion of this crucial initiative.”

Ming Kin Ngiam, Head of SEA South for Network Infrastructure Sales at Nokia, added, “StarHub is establishing a new standard in network modernisation with their comprehensive XGS-PON and SDAN network solutions.”

This milestone not only signifies a leap in StarHub’s Cloud Infinity Strategy but also sets a new benchmark in network modernisation, paving the way for future innovations in AI and machine learning automation.