Industry News

Singapore and the Netherlands celebrated 60 years of diplomatic relations at an event held on 19 May 2025 at the Fullerton Bay Hotel. The event, attended by Minister-in-Charge of Trade Relations Grace Fu and Dutch Minister of Economic Affairs Dirk Beljaarts, underscored the enduring partnership between the two nations, rooted in shared values and a commitment to open, rules-based trade.

The relationship between Singapore and the Netherlands has been pivotal, with Dutch economist Dr Albert Winsemius playing a significant role in Singapore’s early industrialisation. Dutch companies like Shell and Philips have had a longstanding presence in Singapore, with Shell establishing its first oil refinery in 1961 and Philips setting up manufacturing facilities in 1968.

Today, the economic partnership has expanded significantly. Major Dutch companies such as Heineken, FrieslandCampina, and DSM-Firmenich have regional headquarters in Singapore, whilst Singaporean firms like Olam and Keppel have operations in the Netherlands. The Netherlands is Singapore’s second-largest EU investor and investment destination within the EU.

Looking forward, both nations are enhancing collaboration in sustainability, digitalisation, and innovation. Initiatives such as the Singapore – Rotterdam Green and Digital Shipping Corridor and the Global Innovation Alliance nodes in Amsterdam and Eindhoven highlight their shared ambition to pioneer solutions in sustainable shipping and advanced manufacturing. The Netherlands’ participation in Semicon Southeast Asia further exemplifies the ongoing commitment to innovation.

The event symbolised the dynamic partnership between Singapore and the Netherlands, with both countries eager to build on their strong foundation for future prosperity.
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NetLink NBN Trust has announced its financial results for the fiscal year 2025, revealing a stable EBITDA of S$288.1m, consistent with the previous year. The trust’s performance was in line with expectations, despite facing challenges from a lower interconnect rate throughout the year. The distribution per unit (DPU) increased by 1.1% year-on-year to 5.36 Singapore cents, meeting market expectations.

The trust’s yield remains largely insulated from broader economic uncertainties, maintaining a 6% yield. DBS Group Research recommended a “BUY” with an unchanged target price of S$0.98, citing the current yield spread of 330 basis points, which is higher than its four-year average of 319 basis points. This spread is expected to support an increase in the share price.

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StarHub has signed a Memorandum of Understanding (MOU) with Trends and Technologies, Inc., a leading systems integrator in the Philippines, to bolster digital transformation efforts for businesses in the region. This collaboration is part of StarHub’s strategy to expand its enterprise presence across Asia through impactful local partnerships.

The partnership will integrate StarHub’s Modern Digital Infrastructure platform, powered by Cloud Infinity, with Trends’ expertise in cybersecurity and systems integration. This combination aims to provide secure, resilient, and scalable solutions to businesses in the Philippines, enhancing user experiences and supporting business continuity. “This partnership reflects our commitment to meeting enterprises and citizens where they are, with solutions that are secure, scalable, and built to deliver real results,” said Tan Kit Yong, Head of Enterprise Business Group at StarHub.

Hasan Fard, Chairman and CEO of Trends, added, “By combining our deep expertise and capabilities in cybersecurity, managed services, and technology-enabled business services with StarHub’s modern digital infrastructure solutions, we’re creating a powerful partnership that helps businesses in the Philippines simplify operations, strengthen digital foundations, and grow with confidence in a fast-evolving landscape.”

The collaboration will focus on delivering practical innovation through a unified go-to-market strategy, including co-developed bundled offerings and coordinated sales and marketing efforts. This initiative aims to make innovation more accessible and practical for businesses, ensuring they can adapt to a rapidly changing market with confidence.
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VFlowTech, a leader in long-duration energy storage solutions, has successfully raised $20.5m in its latest funding round. The investment, led by Granite Asia, includes new investors such as Antares Ventures, EDBI, MOL PLUS, and PSA Ventures, alongside existing backers like İnci Holding and Wavemaker Partners. This funding will enable VFlowTech to scale the manufacturing and deployment of its vanadium redox flow batteries (VRFBs) and enhance its AI-driven cloud energy management platform.

The company aims to optimise energy efficiency and create new revenue streams through advanced smart grid functionalities. Dr Avishek Kumar, Founder and CEO of VFlowTech, stated, “As industries and governments prioritise sustainability, VFlowTech is at the forefront of providing advanced storage solutions that optimise energy usage and reduce environmental impact.”

The funding will also support the development of critical supply chains, including vanadium recycling and electrolyte innovation. Dr Arjun Bhattarai, Co-Founder of VFlowTech, expressed excitement about the strong group of financial and strategic partners, stating that the investment allows the company to expand into new markets and integrate cutting-edge digital intelligence into their solutions.

VFlowTech plans to accelerate its expansion across Asia, the Middle East, and other global markets, focusing on utilities, grid-scale storage, and industrial decarbonisation. With Singapore positioning itself as a global hub for sustainability, VFlowTech’s innovations are set to play a significant role in the region’s energy landscape.
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FedEx and Singapore Post Limited (SingPost) have expanded their collaboration to enhance international shipping accessibility in Singapore. Following a successful pilot programme launched in September 2023, FedEx parcel drop-off services are now available at all 43 SingPost post offices and POPStop@Tampines MRT. This expansion aims to streamline the delivery process and improve service efficiency, particularly for cross-border shipments.

The initiative allows customers to drop off FedEx parcels at any SingPost post office’s POPStop counters or at POPStop@Tampines MRT, with parcels transferred to FedEx daily. This process requires no additional paperwork or charges, making it a seamless experience for users. Eric Tan, Managing Director of FedEx Singapore, stated, “Expanding our collaboration with SingPost enhances the accessibility and convenience of our international shipping services across Singapore.”

The collaboration reflects FedEx’s strategy to increase accessibility and flexibility through strategic partnerships. With the inclusion of SingPost outlets, FedEx now boasts over 410 drop-off locations across Singapore, including SingPost’s Parcel Santa lockers in flats. Neo Su Yin, Group Chief Operating Officer of SingPost, remarked, “Partnerships with international logistics companies like FedEx allow us to offer even greater value to our customers by providing more options for international shipping.”

Since the pilot’s inception, there has been a steady increase in the use of the drop-off service, indicating strong demand for accessible international shipping solutions. This initiative underscores both companies’ commitment to enhancing logistics solutions for businesses and individuals in Singapore.
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Singapore start-up EXPIScore has unveiled the world’s first star rating system focused on human-centric customer experience (CX) in buildings. Developed by Dr Marigold Kimura, an internationally acclaimed researcher, in collaboration with Executive Adviser Peter Holland, the system aims to simplify and clarify the delivery of experiential real estate environments.

EXPIScore’s framework is based on comprehensive criteria that reflect people’s needs and preferences, identified through consumer surveys and expert consultations. The system offers two assessment categories: EXPIScore: LIVE and EXPIScore: WORK. Real estate providers receive a CX score out of 100 and a star rating from three to six stars, valid for 18 months for new developments and three years for existing properties.

The Singapore Land Group’s Singapore Land Tower has already achieved a 6-star EXPIScore: WORK rating, the highest tier, recognising its industry-leading innovation and design. This rating system provides real estate providers with a detailed report, including a scorecard and actionable roadmap to enhance CX outcomes.

Dr Kimura noted, “Singapore’s innovation culture and sophisticated real estate market make it the ideal launch pad for EXPIScore.” Peter Holland added that human-centric designs are becoming as standard as sustainability measures in real estate.

EXPIScore’s consumer survey revealed that 70% of private residence dwellers value ‘hotel-style’ services, whilst 76% of office workers prioritise safety features like CCTV. The launch of EXPIScore marks a pioneering step in the global real estate industry, offering a benchmark for experience-oriented investments.
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The Singapore Deep-Tech Alliance (SDTA) has unveiled its Youth Chapter, a new initiative aimed at empowering students and young adults through innovation. Announced at the Sustainable Innovation Asia 2025 (SIA2025) event, this initiative is part of SDTA’s efforts to foster an inclusive and future-focused innovation economy. The launch coincides with the SG60 celebrations and is supported by SWITCH, Go Green SG, and the SG Youth Plan by the Ministry of Culture, Community and Youth (MCCY).

At the heart of the Youth Chapter is “BINNY,” a bunny-shaped recycling machine developed by five students from ITE College Central. Despite having no prior tech training, the team, known as Materials For Life (MFL), created BINNY in just one week. The machine encourages young children to recycle by offering snacks as rewards, and it was showcased to over 200 stakeholders from both public and private sectors. BINNY earned the People’s Choice Award at SIA2025, exemplifying what Clara Chen, SDTA’s Founding Partner, describes as “grassroots innovation with public impact.”

The Youth Chapter is open to students from ITEs, polytechnics, and universities, offering free lifetime membership. It provides mentorship, workshops, and potential venture support, aiming to include those traditionally excluded from the innovation conversation. This initiative marks a significant step in engaging Singapore’s youth in sustainable innovation, potentially shaping the country’s future economic landscape.
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The Ascott Limited, a lodging business unit of CapitaLand Investment, has partnered with CapitaLand Hope Foundation to donate $292,000 (S$400,000) to Save the Children. This initiative aims to empower 160 children and youths with disabilities in Thailand and the United Kingdom by providing them with essential skills and opportunities for social, educational, and economic participation.

In Thailand, the partnership focuses on a life skills programme for 60 visually impaired youths. This initiative equips participants with workplace readiness skills, such as communication and teamwork, with the expectation that half will secure employment with Dots Coffee, a social enterprise run by individuals with visual impairments. The remaining participants will receive ongoing job placement support.

In the UK, the collaboration supports the Sheffield Community Bus Project, which serves approximately 100 children with special educational needs and disabilities (SEND) and their families. The mobile hub delivers workshops and essential services to help children access educational and social opportunities, aiming to reduce barriers to inclusion.

Beh Siew Kim, Chief Financial & Sustainability Officer at Ascott, stated, “Disability inclusion is central to our Ascott CARES sustainability framework, and our partnership with Save the Children builds on this commitment.” She emphasised the initiative’s role in empowering children and youths with disabilities to live with dignity.

The partnership was announced at a concert in Bangkok, celebrating Global Accessibility Awareness Day. The event featured performances by artists with disabilities and raised funds for local disability organisations. This collaboration reflects Ascott’s broader efforts to enhance disability inclusion across its global operations, with plans to launch a dedicated course for hospitality professionals later in 2025.
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Thales has been awarded a contract to supply the Republic of Singapore Navy (RSN) with its advanced Pathmaster Mine Countermeasure (MCM) system. Announced on 28 March 2025, this collaboration with ST Engineering marks the first deployment of the Pathmaster solution in Asia, aiming to bolster Singapore’s maritime security through cutting-edge technology.

The Pathmaster system, renowned for its operational performance, integrates the M-Cube mission management system, TSAS towed sonars, and the MiMap sonar data analysis tool. These components will be deployed via ST Engineering’s unmanned surface vehicle, providing the RSN with AI-driven detection and identification of underwater threats. The system is designed to ensure the safety of Singapore’s sea lines of communication, a critical aspect given the nation’s strategic position on major global shipping routes.

The Thales Singapore Defence Hub, established in 2023, will support the system by offering maintenance and local development services. This hub is strategically located near the Singapore Armed Forces to facilitate seamless integration and operational availability.

Emily Tan, CEO and Country Director of Thales in Singapore, expressed gratitude for the trust placed in Thales’ technologies, stating, “The Pathmaster system contributes towards the RSN’s vision for an autonomous suite of unmanned mine countermeasure capabilities, offering enhanced operational awareness, whilst reinforcing the safety of their personnel.”

This contract not only strengthens Thales’ position as a key supplier to the RSN but also represents a significant step in safeguarding Singapore’s maritime routes. The Pathmaster system is already in service with the British Royal Navy and the French Navy, underscoring its proven effectiveness in maritime mine countermeasures.
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Singapore-headquartered Agoda has announced a series of captivating lantern festivals across Asia, set to illuminate the remainder of 2025. These festivals provide a unique opportunity for travellers to experience cultural traditions through vibrant light displays and community gatherings.

Among the highlights is Vietnam’s Hoi An Lantern Festival, transforming the riverside town into a glowing wonderland every full moon. Visitors can release their own lanterns on the Thu Bon River, immersing themselves in Vietnam’s rich heritage. In August, Japan offers a double delight with the Nara Tokae Lantern Festival and the Obon Festival, featuring thousands of candlelit paper lanterns amidst historic temples and traditional dances.

China’s Mid-Autumn Festival in October promises intricate lantern displays in cities like Beijing and Shanghai, alongside mooncakes and storytelling. In November, Chiang Mai, Thailand, hosts the Yi Peng and Loy Krathong Festival, where thousands of lanterns ascend into the sky, symbolising the release of misfortunes. Finally, December’s Giant Lantern Festival in San Fernando, Philippines, showcases massive, intricately designed lanterns, celebrating Filipino creativity.

Krishna Rathi, Senior Country Director at Agoda, emphasised the cultural significance of these events: “Lantern festivals are more than just a visual treat; they’re a window into the heart of a culture.” Agoda aims to facilitate seamless travel experiences for those eager to partake in these luminous celebrations.

With over 5 million holiday properties and 130,000 flight routes, Agoda offers a comprehensive platform for planning a lantern-lit adventure. As these festivals approach, travellers have a wealth of options to explore Asia’s cultural richness through the enchanting glow of lanterns.
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