Industry News

Singapore-listed entities have been recognised for their outstanding corporate governance, with 53 entities achieving ASEAN Asset Class status in the 2024 ASEAN Corporate Governance Scorecard (ACGS). This accolade highlights Singapore’s commitment to governance excellence, representing about a fifth of the 250 top-scoring entities across ASEAN.

The ACGS, a joint initiative by the ASEAN Capital Markets Forum and the Asian Development Bank, involves six countries: Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. The Centre for Governance and Sustainability (CGS) at the National University of Singapore (NUS) Business School and the Singapore Institute of Directors (SID) have been the domestic ranking bodies since 2013.

This year’s assessment introduced new questions on sustainability and resilience, reflecting the evolving business landscape. Singapore’s top 100 SGX-listed entities, including 71 companies and 29 trusts or REITs, were evaluated. The 53 entities recognised as Tier 1 scored an average of 106.9 out of 130, showcasing strengths in shareholder rights and sustainability. In contrast, Tier 2 entities averaged 88.8 points.

John Lim, a Singapore Corporate Governance Expert, emphasised the strategic importance of strong governance amidst geopolitical changes. “The strong showing by Singapore entities affirms our continued commitment to excellence in governance,” he stated.

Professor Lawrence Loh, Director of CGS, praised the entities for their governance performance, particularly in sustainability. He expressed hope for further improvements in board effectiveness and transparency.

In the 2024 ACGS results, Oversea-Chinese Banking Corp (OCBC) led the rankings, followed by CapitaLand Investment and CapitaLand Integrated Commercial Trust.
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Tsuburaya Productions has announced the release of two new Ultraman Card Game expansions, coinciding with the premiere of the Ultraman Omega TV series in Japan. The Starter Deck 03 ‘Ω to the Future’ is available today, whilst the Booster Pack 04 ‘Gleam of Eternal Hope’ will launch on 1 August 2025. These expansions introduce new gameplay mechanics and characters, including the debut of Ultraman Omega in card form.

The Starter Deck 03 ‘Ω to the Future’ features exclusive cards such as Ultraman Omega, Meteokaiju, and Ultraman Arc, designed to reflect the live-action series. This deck introduces fresh gameplay strategies that reward synergy and strategic planning, allowing players to relive key moments from the series. As a bonus, purchasers of the starter deck will receive a preview pack of the upcoming booster pack.

Booster Pack 04 ‘Gleam of Eternal Hope’ expands the card universe with upgraded versions of Ultra Heroes like Ultraman Dyna, Ultraman Z, and Ultraman Trigger. Each 24-pack box includes a special box topper card featuring Alien Baltan, a classic villain known for its illusory powers.

The Ultraman Card Game is gaining traction globally, with the Asia-Pacific region leading the resurgence of trading card games. These new releases are expected to bolster the game’s popularity ahead of the Ultra League World Championship 2026 in Tokyo. Fans can purchase the new decks at authorised hobby stores, major retailers, and online platforms in Singapore.
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Singapore’s industrial sector continues to demonstrate resilience, with rents and prices experiencing moderate growth in Q2 2025, according to Cushman & Wakefield’s analysis of JTC’s Quarterly Market Report. The Purchasing Managers’ Index rose to 50 in June, indicating a return to expansion after months of contraction. This suggests a cautious recovery in manufacturing sentiments, despite ongoing uncertainties.

Overall industrial rents increased by 0.7% quarter-on-quarter (qoq) in Q2 2025, marking the 19th consecutive quarter of growth. This was supported by steady asking rents in new developments, driven by higher construction costs. Meanwhile, owners of older properties have shown flexibility in rents to maintain high occupancy rates. Business parks recorded the strongest rental growth at 1.2% qoq, followed by multiple-user factories at 0.9% qoq.

Vacancy rates rose slightly by 0.2 percentage points to 11.2% in Q2 2025, with warehouses and multiple-user factories experiencing higher vacancies due to increased supply. Notable completions include JTC Space @ Ang Mo Kio and Mapletree Joo Koon Logistics Hub. Despite this, new multi-user prime logistics spaces have seen steady take-up rates, reflecting tenant interest in quality spaces.

Industrial prices rose by 1.4% qoq, marking the fifth consecutive quarter of increase. Transaction volumes also increased by 7.1% qoq to 435 transactions, with investors showing keen interest in new economy assets like data centres and life science facilities. The industrial enbloc market has seen a resurgence, with two successful deals in H1 2025, highlighting investor interest in freehold sites with potential for long-term appreciation.
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Private home prices in Singapore experienced a measured increase of 1.0% quarter-on-quarter (QOQ) in Q2 2025, according to the latest statistics from the Urban Redevelopment Authority (URA). This growth, slightly higher than the earlier flash estimate of 0.5%, comes amidst fewer project launches. Meanwhile, Housing and Development Board (HDB) resale flat prices saw their slowest quarterly increase since Q2 2020, rising by just 0.9% QOQ.

The Core Central Region (CCR) led the price growth for non-landed private homes with a 3.0% QOQ increase, whilst the Rest of Central Region (RCR) saw a decline of 1.1% QOQ. Landed homes continued their upward trend with a 2.2% QOQ rise. Despite the overall price increase, developers sold only 1,212 new units, marking a 64% drop from Q1 2025. However, this was a 67% increase compared to Q2 2024.

Kelvin Fong, CEO of PropNex, noted, “We continue to see price stabilisation in the private housing market in Q2 2025, which will benefit prospective buyers and investors looking to acquire a private home.” He highlighted that 66% of new non-landed private homes sold were priced under $2.5 million, aligning with current buyer preferences.

In the HDB sector, 7,102 flats were resold in Q2 2025, a 7.8% increase from the previous quarter. Wong Siew Ying, Head of Research and Content at PropNex Realty, projected that HDB resale prices could rise by 4% to 5% in 2025, a slowdown from the 9.7% increase in 2024.

Looking ahead, PropNex anticipates a rebound in new home sales in Q3 2025, with over 3,400 new condos expected to launch. The market remains optimistic despite potential risks, supported by sensitive pricing and a manageable level of unsold homes.
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DoubleVerify’s 2025 Global Insights: APAC Report reveals that Singapore is grappling with a significant rise in ad fraud and invalid traffic violations, with a 1.6% fraud rate, one of the highest in the Asia-Pacific (APAC) region. This comes as the region’s brand suitability violation rate is now 50% higher than the global average, posing a challenge for marketers aiming to optimise their return on investment (ROI).

The report underscores the impact of media quality on ad spend, noting that Singapore’s consumers are among the most digitally engaged in APAC, spending over 3.8 hours daily on online content. However, nearly half of these consumers use ad blockers, which contributes to media waste and lost ROI when ads appear in unsafe or non-viewable environments. DoubleVerify highlights that brands using protection tools can significantly reduce waste, saving an estimated $336,000 per billion impressions globally by avoiding unsuitable placements.

Conrad Tallariti, Managing Director of APAC at DoubleVerify, emphasised the importance of bridging the gap between attention and authentic viewability. He noted that the rise in non-human traffic and bot fraud, driven by AI-driven scraping, is eroding ad spend in Singapore, one of Asia’s most digitally advanced markets.

The report also provides insights into media quality benchmarks and practical steps for Southeast Asian marketers to safeguard their campaigns. As the digital landscape evolves, prioritising brand suitability, viewability, and fraud prevention remains crucial for advertisers to enhance campaign performance and ROI.
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Singapore’s private residential market demonstrated resilience in Q2 2025, with prices rising by 1% quarter-on-quarter, despite a notable slowdown in sales activities. This increase, reported by the Urban Redevelopment Authority (URA), comes amidst escalating global trade tensions and geopolitical conflicts, which have dampened market sentiment.

The number of new private homes launched by developers fell sharply by 51.6% from 3,139 units in Q1 2025 to 1,520 units in Q2 2025. Sales also dropped by 64.1% to 1,212 units. This decline is attributed to cautious market sentiment and the seasonal lull during the June school holidays, according to Chia Siew Chuin, Head of Residential Research at JLL Singapore.

Despite these challenges, the private residential price index’s growth was driven by a 2.2% increase in the landed property segment, whilst non-landed properties saw a modest 0.7% rise. The Core Central Region (CCR) outperformed with a 3% price increase, bolstered by the launch of 21 Anderson and ongoing sales from other CCR projects.

The unsold inventory of private residential units grew slightly by 2.1% to 18,653 units, yet remains significantly below pre-COVID levels. This indicates a healthy demand, particularly in the CCR, where local buyers dominate.

Looking ahead, developers are expected to remain cautious in land acquisition due to tight profit margins and market uncertainties. However, the stable leasing market, evidenced by a 0.8% rise in private home rents, suggests continued resilience in the sector.
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Singapore Polytechnic (SP) has launched a new HR learning journey titled “Building Companies of Good – Planet” at the HR Learning Fest & Symposium 2025, attended by over 800 HR leaders, business professionals, and students. This initiative, part of the national SkillsFuture Festival, seeks to empower small and medium enterprises (SMEs) to enhance their employer branding, navigate labour market challenges, and integrate sustainability into their workforce practices.

The symposium, graced by Senior Minister of State Desmond Tan, highlighted pressing workforce issues such as talent shortages and the need for sustainable workforce development. SP’s new learning journey builds on previous themes of Profit & People, focusing on equipping SMEs with future-ready HR strategies.

SP has also formalised strategic partnerships with key industry players, including the Singapore Precision Engineering & Technology Association and the Food, Drinks and Allied Workers Union. These alliances aim to support workforce transformation through resources like the Sectoral Guide on Fair Workplace Practices for Manufacturing and co-developed human capital policy templates for the accommodation sector.

Additionally, SP signed Memoranda of Understanding with several organisations, including Elitez Private Limited and the Singapore Fintech Association, to foster a future-ready workforce through collective actions such as workforce upskilling and student-industry engagement.

Principal and CEO of Singapore Polytechnic, Soh Wai Wah, emphasised the institution’s commitment to driving workforce transformation through business-aligned, people-first efforts. The HR Learning Fest and Symposium, along with the new HR learning journey, demonstrate SP’s dedication to enhancing HR capabilities and aligning talent development with Singapore’s evolving workforce priorities.
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Singlife has released a white paper titled “From Awareness to Action: Securing Long-Term Care for a Super-Aged Society,” highlighting the urgent need for improved financial readiness and awareness of long-term care in Singapore. Drawing on data from Singlife’s insurance claims and research studies, the paper reveals that the average cost of long-term care is nearly S$3,000 per month, a figure underestimated by more than half of the respondents.

The paper underscores a critical gap between the coverage provided by national schemes like ElderShield and CareShield Life, which offer up to S$662 per month, and the actual costs incurred. With only one in three Singaporeans aged 30 and above having supplementary insurance, the financial burden on individuals and families is significant. Singlife’s data indicates that long-term care is required for an average of 10 years, with some cases extending beyond 15 years, affecting not just the elderly but younger individuals as well.

Singlife’s CEO, Pearlyn Phau, emphasised the need for a shift from passive awareness to active preparation, urging collaboration between public and private sectors to make long-term care more accessible and coordinated. The launch of the white paper was accompanied by a panel discussion featuring experts from Dementia Singapore, NHG Health, and others, addressing the challenges and solutions for managing rising long-term care demands.

As Singapore approaches a “super-aged” status by 2026, with one in five residents aged 65 and above, the white paper calls for aggressive public education and a comprehensive approach to ensure a sustainable and dignified long-term care system.
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Singapore’s property market displayed a mixed performance in Q2 2025, according to CBRE Research’s analysis of the Urban Redevelopment Authority’s (URA) latest statistics. The office sector experienced a slight decline, with the URA Office Rental Index for the Central Region dropping by 0.3% quarter-on-quarter (q-o-q), reversing the previous quarter’s increase. Category 1 office spaces saw a 3.2% decline in median rental rates, despite a reduction in vacancy rates from 11.7% to 11.0%, attributed to the absorption of space at IOI Central Boulevard Towers.

Conversely, Category 2 office spaces recorded a 2.7% increase in median rents, marking the third consecutive quarterly rise. CBRE noted that the Core CBD Grade A segment continued to see rent growth, with a 0.4% q-o-q increase, as businesses prioritised premium spaces. Tricia Song, CBRE Head of Research, Southeast Asia, highlighted the ongoing global economic uncertainties influencing these trends.

In the retail sector, rents in the Central Region rose by 0.9% q-o-q, reversing a previous decline. However, the islandwide private retail market faced negative net absorption, with vacancy rates increasing to 7.0%. Despite challenges, certain sectors, including food and beverage, showed expansion, with brands like Pizza Studio Tamaki and Huggs leading demand.

The residential market saw private housing prices rise by 1.0% q-o-q, driven by a 2.2% increase in landed property prices. Non-landed properties experienced uneven growth, with the Core Central Region (CCR) leading with a 3.0% increase. The rental index for private residential properties rose by 0.8% q-o-q, indicating a recovery from the previous year’s correction.

Looking ahead, CBRE anticipates continued growth in the office and retail sectors, supported by limited new supply and Singapore’s stable business environment. The residential market is expected to see improved sales with more launches in the second half of 2025.
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The Singapore Island Country Club (SICC) has embarked on an ambitious SG60 Tree Planting Initiative to celebrate Singapore’s 60th year of independence. This initiative, which involves planting 60 native trees across the club’s grounds, aims to honour the nation’s heritage and promote sustainability. Among the trees planted is the historically significant Hopea sangal, also known as the Changi Tree.

During the third of several planned planting sessions, 40 participants gathered to plant 15 trees. This effort aligns with Singapore’s Green Plan 2030, reflecting SICC’s commitment to environmental goals and the preservation of biodiversity. Ian Geoffrey Roberts, General Manager of SICC, emphasised the initiative’s significance, stating, “It is a symbol of our collective responsibility to protect the environment, preserve our natural heritage, and contribute meaningfully to a sustainable future.”

Central to the initiative is the Hopea sangal, a tree species once thought extinct in Singapore. Rediscovered in 2002 and designated as a National Heritage Tree, its planting at SICC underscores the club’s dedication to conservation. The club is also supporting a biodiversity recovery programme, which includes the propagation of 300 Hopea sangal saplings.

The initiative also holds personal significance for club members and staff celebrating their 60th birthdays in 2025, connecting their personal milestones with the nation’s history. SICC’s commitment to sustainability is further demonstrated by repurposing timber from necessary tree removals into eco-friendly course fixtures.
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