Industry News

Singapore-headquartered Banyan Group, a leader in sustainable hospitality, has released its 2024 Sustainability Report, titled “One Banyan, One Sustainable Future.” The report outlines the group’s progress in environmental, social, and economic dimensions, showcasing a 57% reduction in emissions intensity per occupied room and a 28% diversion of waste from landfill. These achievements are part of Banyan Group’s commitment to sustainability, which remains a core foundation of its business.

The report highlights several key initiatives, including investments in energy-efficient infrastructure and renewable energy, which have significantly reduced emissions. Waste management efforts have also been enhanced, with increased recycling and repurposing activities. Additionally, the group’s water conservation strategies have improved water efficiency by 51% per occupied room.

Marine conservation remains a priority, with the expansion of Our Marine Lab in the Maldives and the launch of the Coral Reef Restoration Project in partnership with the China Environmental Protection Foundation. Banyan Group’s commitment to local communities is evident through its Seedlings programme, which supported 93 young individuals and provided over 2,500 internship opportunities.

To mark its 30th anniversary, the Banyan Global Foundation funded 30 projects through the Greater Good Grants, focusing on long-term social, environmental, and financial benefits. Ho Ren Yung, Deputy CEO of Banyan Group, emphasised the group’s ongoing journey towards more impactful practices, stating, “Sustainability is a cornerstone of Banyan Group’s purpose, and our journey will continue to evolve.”

As Banyan Group looks to the future, it aims to scale its sustainability efforts further, with ambitious climate action and deeper community engagement planned for the coming years.
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Singapore’s industrial sector is bracing for turbulent times as recent US tariff announcements create uncertainty, impacting relocations and expansions. Calvin Yeo, Head of Occupier Strategy and Solutions at Knight Frank Singapore, noted that the ongoing tariff changes compel industrial players to adopt a cautious stance. The Singapore economy grew 3.8% year-on-year in Q1 2025 but contracted 0.8% quarter-on-quarter, with the manufacturing sector expanding 5.0% year-on-year but shrinking 4.9% quarter-on-quarter.

The Economic Development Board reported a 1.3% year-on-year decrease in manufacturing output in February 2024, breaking a streak of monthly expansions. Despite this, the business outlook for January to June 2025 remains positive at 16.0%, up from 10.0% in the previous period. However, this optimism was recorded before the US tariffs were announced in April 2025, which have since unsettled the global outlook.

Industrial property sales in Singapore saw a decline, with total sales value dropping 33.9% quarter-on-quarter to $500m (S$680.9m) in Q1 2025. Leasing activity also slowed, with a 0.4% quarter-on-quarter decline in rental transactions. The US tariffs are expected to slow global trade flows, impacting Singapore’s manufacturing, electronics, and logistics sectors due to the country’s reliance on exports.

Despite these challenges, Singapore remains an attractive investment hub. The construction sector is poised for growth with large projects like Changi Airport Terminal 5 and Marina Bay Sands expansion. JTC has announced enhancements to the industrial land lease framework, offering more flexibility in renewals to support businesses during this uncertain period.

The inaugural GITEX ASIA x Ai Everything Singapore is set to make a significant impact on the tech and investment landscape from 23 to 25 April at Marina Bay Sands. This event, touted as Asia’s largest debut for tech, startups, and venture capital, aims to position Southeast Asia as a burgeoning hub for socio-economic growth and digital transformation.

The event will feature North Star Asia, the region’s largest startup-investor platform, showcasing over 350 startups from more than 60 countries and attracting over 250 global investors managing a combined $200b in assets. A key component of the event is the facilitation of over 2,500 pre-arranged meetings between founders and venture capitalists, designed to expedite fundraising and market entry.

Startups will present solutions across high-growth sectors such as artificial intelligence, fintech, agritech, healthcare, green technology, and Industry 5.0. AI is projected to contribute $1t to Southeast Asia’s GDP by 2030, according to Kearney, with leading AI-focused funds like Vertex Holdings and 500 Global in attendance.

The event will also feature country showcases from over 50 nations, including Vietnam, Singapore, and Australia, highlighting globally competitive innovations. The Supernova Challenge, with a prize pool of $100,000, will see top startups pitching to a global panel of investors.

As Southeast Asia’s tech startup market cap reached $454b in H1 2024, the region is attracting unprecedented interest from global investors and accelerators, marking a period of immense growth and opportunity.
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Cushman & Wakefield has announced a series of strategic leadership changes within its Project & Development Services (PDS) division across Singapore and Southeast Asia. The company has promoted Meriana Liao to Director of PDS in Singapore and appointed Gina Peng, Adrian Choong, and Cedric Bada to key leadership roles in the region. These moves are designed to strengthen the firm’s capabilities and expand its service offerings to meet the growing demands of its client base.

Meriana Liao, who joined Cushman & Wakefield in 2021, has been elevated to Director, where she will lead a team of Client Services Managers and drive sales strategy development. Her promotion is a testament to her successful leadership in client engagements and her contribution to the growth of PDS in Singapore.

Gina Peng, with over 20 years of experience in project management, has been appointed as Director of PDS in Singapore. Her expertise in sustainable design and construction is expected to enhance the firm’s green initiatives. “Meriana’s exceptional leadership in Client Services and Gina’s vast experience are pivotal to our continuous pursuit of delivering unparalleled service,” said Grant Carter, Head of PDS, Singapore.

In Malaysia, Adrian Choong has taken on the role of Head of PDS, bringing extensive experience in construction and engineering. Meanwhile, Cedric Bada has been appointed Head of PDS in the Philippines, leveraging his architectural background to manage complex real estate projects.

Riaz Khan, Head of PDS for Southeast Asia, emphasised the importance of these appointments in driving value for clients across the region. The firm aims to capitalise on the diverse opportunities within the fast-growing Southeast Asian markets.
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Global talent solutions firm Robert Walters has announced significant leadership changes, appointing Kirsty Poltock as the new Country Manager for Singapore. Poltock, who has been with the company for nearly a decade, will lead the local team, focusing on strengthening client relationships and delivering innovative recruitment solutions. Her extensive experience in both permanent and contract recruitment solutions positions her well to navigate Singapore’s dynamic recruitment landscape.

In addition to Poltock’s appointment, Robert Walters Outsourcing has named Jenny Fulton as Managing Director for Asia Pacific. Fulton, who joined the company in 2016, will oversee the outsourcing operations and growth in the region. Her expertise in recruitment process outsourcing and non-permanent volume hiring will be instrumental in shaping workforce strategies across Asia Pacific. “It is an absolute privilege to lead our excellent Asia Pacific team towards our region’s strategic objectives,” Fulton stated.

Meanwhile, Hazel Lancashire has been appointed as Managing Director of Global Client Success at Robert Walters Outsourcing. With over 25 years in the recruitment and outsourcing industries, Lancashire will focus on delivering client satisfaction globally. Her previous roles have seen her successfully launch and develop key facets of the company’s global outsourcing business. “I’m delighted to be stepping back into a global role to build customer-centric solutions,” Lancashire commented.

These appointments align with Robert Walters’s vision of being the world’s most trusted talent solutions business, aiming to enhance their global service offerings and client partnerships. The firm continues to expand its operations, with 84% of its revenue now coming from non-UK businesses.
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Booking.com has released its 2025 Sustainability & Travel Report, revealing that 46% of Singapore-based travellers are increasingly conscious of the impact of tourism on both the environment and local communities. The report, launched on Earth Day, highlights a growing trend towards sustainable travel practices amongst Singaporeans, with 68% expressing a desire for their spending to benefit local economies and 67% aiming to leave destinations better than they found them.

The research, which surveyed 32,000 travellers across 34 countries, shows that whilst 49% of Singaporeans believe tourism positively impacts their home, concerns about overcrowding, rising living costs, traffic, and noise pollution persist. Despite these issues, only 22% support capping visitor numbers, preferring investment in infrastructure to support sustainable tourism growth.

Danielle D’Silva, Director of Sustainability at Booking.com, emphasised the need for tourism, infrastructure, and innovation to align with travellers’ intentions. “We want to make it easier for both travellers and partners to feel confident that the choices they make are helping contribute positively to the destinations they visit,” she said.

The report also notes that sustainable habits, such as using reusable water bottles and travelling off-peak, are becoming mainstream amongst Singaporeans. As the travel industry looks to the future, there is optimism about the role of technology in connecting travellers with diverse local communities and spreading tourism’s benefits more broadly.
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Carousell Group has unveiled its latest Circular Economy Impact Report, revealing that secondhand shopping on its platforms potentially avoided 153,141 tonnes of carbon emissions in 2023. This figure is equivalent to the carbon dioxide absorbed by 9 million trees annually. The report, released in conjunction with Earth Day, underscores the environmental benefits of choosing pre-owned items over new ones.

The report, developed with European climate tech company Vaayu, uses a Life Cycle Assessment approach to quantify emissions avoided through secondhand purchases. On average, each transaction on Carousell, Laku6, Mudah.my, and REFASH avoided 14kg of CO₂e, comparable to the production of 22 plastic bottles. Key categories contributing to these savings include Furniture & Home Living, Computers & Tech, and Mobile Phones.

Gaurav Bhasin, Chief Sustainability Officer at Carousell Group, stated, “Secondhand isn’t just a more affordable choice—it’s a climate solution. By refining our methodology, we want to highlight how meaningful each secondhand choice can be.”

Carousell Group continues to promote sustainable shopping through various initiatives, including AI-powered features and educational campaigns. These efforts aim to make eco-conscious decisions more accessible and impactful for users across Southeast Asia. The report’s findings highlight the potential of secondhand shopping to significantly reduce carbon footprints, supporting a growing culture of sustainability. For more details, the full report is available on Carousell’s website.
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Yeo Hiap Seng (Yeo’s) has been named the official partner of the Singapore HeritageFest 2025, marking the 60th anniversary of Singapore’s independence. In collaboration with the National Heritage Board, the festival will highlight Singapore’s intangible cultural heritage, including traditional crafts and food practices. Yeo’s will introduce the Yeo’s Singaporean Starter Kit, a tingkat-inspired media kit featuring nostalgic snacks, childhood games, and Yeo’s beverages.

The festival, running from 1 to 31 May 2025 at Homeground Village in Gardens by the Bay, will offer visitors a chance to win one of these exclusive kits through a giveaway contest. Alex Chen, Head of Marketing & Business Development at Yeo’s Singapore, stated, “Just as a tingkat reveals a complete meal layer by layer, the Yeo’s Singaporean Starter Kit unveils the classic ingredients of our shared identity.”

Visitors can also enjoy Yeo’s special edition SG60 Orchid Chrysanthemum Tea, available at an Asian drinks stall every weekend in May. This limited-edition beverage will be redeemable at selected museums and National Day celebrations until August and available for purchase in 250ML packs from June.

The initiative is part of Yeo’s SG60 campaign, celebrating the everyday objects, flavours, and practices that form Singapore’s vibrant cultural tapestry. For more information and the full festival line-up, visit the Singapore HeritageFest website.
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Logicalis, a global IT solutions and managed services provider, has announced the launch of Cisco Extended Detection and Response (XDR) as a Global Managed Service (MXDR) in the Asia Pacific (APAC) region.

This makes Logicalis the first Cisco partner in APAC to offer this service, which will be available to customers in Singapore, Australia, and Hong Kong. The launch addresses the region’s critical security challenges amidst rising cyber threats, with 91% of organisations in the Logicalis APAC CIO report having experienced cybersecurity incidents in the past year.

The Cisco XDR solution provides a comprehensive approach to counter advanced cyberattacks through a unified security incident platform. It integrates with multiple security toolsets, enhancing existing endpoint protection for organisations. Logicalis delivers this service through its 24/7 APAC Security Operations Centre (SOC) in Malaysia, supported by its global network of SOCs across EMEA and the Americas.

Lee Chong-Win, CEO of Logicalis Asia Pacific, highlighted the growing demand for security services due to a skills gap, stating, “Security is the number one concern for our customers and we’re seeing a tidal wave of demand for services amidst a growing skills gap.” He added that Cisco XDR offers the AI-driven automation needed by customers, combined with Logicalis’s global threat intelligence.

Dave West, President of Cisco Asia Pacific, Japan, and Greater China, remarked, “Together with Logicalis, Cisco is helping customers transform their security operations to be more responsive, intelligent, and aligned to business outcomes.”

Logicalis’s Cisco XDR as a Managed Service is currently being validated as a global Cisco Powered Service, further establishing Logicalis as a preferred managed security partner. The Malaysian SOC serves as a regional hub, providing high levels of threat visibility and compliance, leveraging AI-driven automation and global threat intelligence to protect organisations from evolving cyber threats.
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CMC Invest Singapore has unveiled a new pricing structure, making its ‘Invest’ tier the default offering at no cost. This change, effective immediately, replaces the previous ‘Gold’ tier, providing users with 45 free trades per month across major markets, including Singapore, Canada, Hong Kong, the US, and the UK. Additionally, the foreign exchange settlement rate has been reduced to 0.20%, offering significant savings for international investors.

The decision follows positive feedback from a 12-month promotional campaign launched in April 2024, during which clients enjoyed complimentary access to the ‘Invest’ tier. Christopher Forbes, Head of Asia at CMC Singapore, stated, “Today’s investors expect both value and sophisticated tools. By making our ‘Invest’ tier the new standard, we’re giving clients access to cutting-edge capabilities without the premium price tag.”

Furthermore, CMC Invest’s premium ‘Platinum’ and ‘Diamond’ tiers have been enhanced to offer even lower FX rates and additional free trades. These tiers, available via subscription, cater to active investors seeking advanced trading advantages, providing greater flexibility and exclusive perks.

CMC Markets, established in 1989 and listed on the London Stock Exchange, operates in 13 countries, including Singapore, where it has been present since 2007. The company continues to focus on delivering value and advanced trading tools to its clients worldwide.
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