Industry News

Singapore’s new home sales in April 2025 experienced a decline for the second consecutive month, with 663 private homes sold, marking a 9.1% decrease from March’s 729 units. This downturn comes as buying sentiment remains cautious due to ongoing global trade frictions and geopolitical tensions, according to Tricia Song, CBRE Head of Research for Singapore and Southeast Asia.

April’s sales bring the total number of new homes sold in 2025 to 4,038 units. Despite the decline, the number of units sold in April more than doubled compared to the same month last year, which saw only 301 units sold. The top-selling project was One Marina Gardens, which sold 384 units at a median price of $2,948 per square foot (psf), representing 41% of its total units.

The Rest of Central Region (RCR) led the market segment in April, accounting for 83.1% of developer sales, largely due to the launches of One Marina Gardens and Bloomsbury Residences. The Outside Central Region (OCR) followed with 14.3% of sales, whilst the Core Central Region (CCR) underperformed with just 2.6% of sales.

Looking ahead, CBRE Research anticipates a slowdown in new home sales for the remainder of 2025, projecting a total of 7,000 to 8,000 units sold for the year. This forecast reflects the potential for developers to delay launches amid economic uncertainty. Private home prices rose by 0.8% quarter-on-quarter in Q1 2025, with a full-year increase of 3-4% expected, contingent on economic conditions.
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PSB Academy, a leading private education institution in Singapore, has announced the launch of its $2.1m Beyond60 initiative, aimed at providing full scholarships to 30 deserving individuals. These scholarships, awarded in collaboration with the Singapore Centre for Social Enterprise (raiSE), United Women Singapore, and Care Corner Singapore, are part of a broader effort to promote inclusivity and equal educational opportunities.

The initiative aligns with Singapore’s 60th anniversary theme of “Building Our Singapore Together,” focusing on shared values such as resilience and openness. The scholarships will cover educational programmes ranging from six months to four years, depending on the course selected. Recipients will be chosen by the partner organisations, with the first batch of scholarships commencing in the second half of this year and continuing until December 2026.

Derrick Chang, CEO of PSB Academy, stated, “We will together identify well-deserving individuals to receive these scholarships—individuals who may otherwise not have the resources to pursue further education.”

The scholarships aim to empower leaders within the social enterprise sector, support young women in STEM fields, and provide alternative educational pathways for at-risk youths. Alfie Othman, CEO of raiSE, emphasised the importance of equipping social enterprise leaders with the skills needed for sustainable development, whilst Tan Ching Ne, President of United Women Singapore, highlighted the initiative’s role in closing the gender gap in STEM.

Applications for the scholarships are open until 31 December 2025. PSB Academy plans to host a celebration later this year to officially award the scholarships and will organise public engagement activities to promote inclusivity in education.
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Singapore-based Motul, a leader in innovative lubricants, has unveiled its latest product, NGEN Hybrid, in the Asia Pacific region. This new addition to Motul’s sustainable NGEN range is specifically designed for Hybrid Electric Vehicles (HEVs) and Plug-in Hybrid Electric Vehicles (PHEVs). As hybrid vehicle adoption rises across the region, NGEN Hybrid aims to meet the unique demands of hybrid engines, offering superior protection and long-term engine health without compromising on performance or sustainability.

Carlo Savoca, Chief Marketing Officer of Motul Asia Pacific, highlighted the importance of this development: “With the growing adoption of hybrid vehicles, it’s essential to have lubricants specifically designed to meet the unique demands of these engines. Hybrid cars need hybrid oil, and NGEN Hybrid supports optimal fuel efficiency, engine protection, and long-term reliability.”

The launch aligns with the rapid growth of hybrid vehicles in Asia Pacific, where the market is projected to grow at a compound annual growth rate of 18% from 2024 to 2030, according to MarkNtel Advisors. This growth is driven by consumer demand for fuel-efficient and environmentally friendly mobility solutions, as well as government incentives supporting low-emission vehicles.

NGEN Hybrid is engineered to address the distinct conditions of hybrid powertrains, such as frequent engine restarts and transitions between electric and petrol modes. It promises up to 8.1% better fuel economy compared to regular oils and offers 60% greater protection in Low-Speed Pre-Ignition tests. Additionally, it is formulated with 10% regenerated base oils and packaged in recyclable bottles, reflecting Motul’s commitment to sustainability.

Motul’s NGEN Hybrid is available in viscosities of SAE 0W-16 and SAE 0W-20, catering to the evolving needs of hybrid vehicle drivers.
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Singapore-based ChemOne Group is set to revolutionise the petrochemical industry with its Pengerang Energy Complex (PEC) in Malaysia, thanks to its adoption of Honeywell UOP’s LD Parex technology. This innovation is expected to reduce operating expenses by up to 40% and capital expenses by up to 20% when the plant becomes operational.

Alwyn Bowden, CEO of Pengerang Energy Complex Sdn Bhd, highlighted the shift in the global refining industry from fuel to petrochemicals, stating, “Refineries have been under increasing pressure to adapt and power profitability and efficiency.” The PEC will be the first plant outside China to utilise this advanced technology, which is projected to save $120 per metric tonne of paraxylene produced.

Paraxylene, a key component in polyester and plastics, is in high demand, particularly in China, which accounts for 60% of global consumption. With global demand expected to grow by 5.32% annually, generating $52.92b by 2031, PEC aims to meet this demand whilst reducing its carbon footprint.

The UOP LD Parex technology employs an advanced adsorptive separation process, replacing heavy desorbents with a more efficient light desorbent, toluene. This change simplifies fractionation units, significantly cutting both CapEx and OpEx. The technology also supports ChemOne’s sustainability goals by minimising emissions and utility consumption.

In the coming months, PEC plans to finalise project financing and begin construction in Pengerang, Johor, Malaysia, marking a significant step forward in sustainable petrochemical production.
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Kimly Limited, one of Singapore’s largest traditional coffeeshop operators, has announced a net profit of S$14.8m for the first half of the financial year 2025, ending 31 March. This represents a 15.6% decrease from the previous year, amidst a challenging environment marked by rising costs and manpower shortages. The company’s revenue saw a marginal increase of 0.5% to S$159.3m, driven primarily by its Outlet Management division.

The food and beverage industry continues to grapple with increased rental, raw material, and utility costs, alongside stringent foreign worker policies and rising wages. Despite these hurdles, Kimly remains committed to growth, having entered a joint venture in February 2025 to manage a short-term lease for a coffeeshop in Toa Payoh, and acquiring another in Serangoon Central, which began operations in April.

The company’s Directors stated, “These initiatives are in line with our continued efforts to expand our network in high-footfall, strategically located areas.” The Group’s strategy includes investing in research and development and enhancing central kitchen capabilities to boost efficiency and innovation.

Kimly’s Food Retail Division experienced a revenue decline of S$1.4m, attributed to the closure of underperforming stalls and outlets. However, this was partially offset by the opening of new stalls and outlets. The company declared an interim dividend of 1.00 Singapore cent per share, reflecting its commitment to shareholder value despite economic pressures.

Looking ahead, Kimly plans to closely monitor the evolving business landscape and adapt its strategies to maintain competitiveness and resilience in the face of ongoing geopolitical and inflationary challenges.
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Singtel has unveiled its latest innovation, 5G+, marking a significant leap in mobile connectivity. This pioneering service, launched on 15 May, introduces the world’s first nationwide deployment of network slicing for consumers, promising faster speeds, seamless connectivity, and enhanced security, even during international roaming.

The introduction of 5G+ positions Singtel at the forefront of global telecommunications, setting a new standard for mobile networks. Network slicing, a key feature of this service, allows for the creation of multiple virtual networks within a single physical network infrastructure. This ensures that users experience optimal performance tailored to their specific needs, whether for streaming, gaming, or business applications.

Singtel’s commitment to innovation is evident in this launch, which aims to meet the growing demand for reliable and high-speed mobile connectivity. The company believes that 5G+ will not only enhance user experience but also drive digital transformation across various sectors. “This advanced 5G service delivers faster speeds, seamless connectivity, and robust security,” Singtel stated in their announcement.

The rollout of 5G+ is expected to have far-reaching implications, potentially transforming industries and enabling new technological advancements. As Singtel continues to expand its capabilities, consumers and businesses alike can anticipate a future where connectivity is more efficient and secure.

With this launch, Singtel reinforces its position as a leader in the telecommunications industry, paving the way for future innovations in mobile technology.
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Raffles City has launched the second edition of its luxury beauty pop-up, the Raffles City Beauty Vault, running from 8 May to 15 June 2025 at the Level 3 Main Atrium. Following a successful debut last year, this year’s event features 21 premium brands and a host of immersive activities designed to captivate beauty enthusiasts. The initiative is part of Raffles City’s strategy to solidify its position as Singapore’s premier destination for luxury beauty.

The Beauty Vault pop-up offers shoppers the chance to explore the latest beauty launches, participate in exclusive masterclasses, and enjoy bespoke experiences within a specially-designed, vault-inspired setting. This year’s edition promises to celebrate beauty in all its forms, providing a comprehensive one-stop access to the latest in beauty and fragrance.

In a bid to attract and retain loyal customers, Raffles City is offering its top spender a unique opportunity to win a Parisian escape for two. This exclusive prize, in collaboration with perfumery Maison Francis Kurkdjian, includes an unforgettable journey of elegance and culture in the heart of Paris.

Marianne Liow, Vice President of Raffles City Singapore, emphasised the importance of initiatives like Beauty Vault in targeting and securing shoppers in the luxury beauty sector. The pop-up not only enhances Raffles City’s luxury-focused positioning but also enriches the shopping experience with its diverse offerings and sensory delights.

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VFlowTech, a Singapore-based leader in long-duration energy storage technology, has successfully closed its Series A2 financing round, attracting significant investment from major players including Granite Asia, MOL PLUS, and EDBI. The funding round, announced on 15 May 2025, aims to bolster VFlowTech’s development of vanadium redox flow batteries, a key technology for sustainable energy solutions.

The investment marks a strategic collaboration between VFlowTech and MOL PLUS, the corporate venture arm of Mitsui O.S.K. Lines, which has signed a Memorandum of Understanding to explore deploying VFlowTech’s technology in the maritime industry. This initiative aligns with MOL Group’s ambition to pioneer carbon-neutral port solutions, reinforcing its sustainability agenda.

Henry Tao, Director at UntroD Capital Asia, expressed confidence in VFlowTech’s potential, stating, “We’ve been impressed by VFlowTech’s remarkable achievements in advancing sustainable energy solutions. Their vision aligns with our commitment to fostering impactful technologies that address global energy challenges.”

In addition to equity investment, VFlowTech has secured Southeast Asia’s first venture debt facility for an energy storage company, provided by Hokkoku Financial Holdings. This move underscores strong investor confidence in VFlowTech’s solutions and highlights the growing role of innovative financial instruments in advancing sustainable development across the region.

The strategic investments and partnerships position VFlowTech as a trailblazer in clean energy innovation, supporting the global transition to a net-zero future. As VFlowTech continues to expand its operations, these collaborations are expected to play a crucial role in advancing sustainable energy infrastructure worldwide.
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Canon Singapore has announced a strategic partnership with Mitsubishi Electric Asia to introduce a cutting-edge automation solution in Southeast Asia. This collaboration integrates Canon’s newly launched Force Torque Sensor FH-300-20 with Mitsubishi Electric’s MELFA FR series industrial robots. The innovation aims to tackle persistent labour shortages and enhance operational efficiency by equipping robotic arms with human-like sensitivity for complex tasks.

The Force Torque Sensor, showcased at SEMICON Southeast Asia 2025, is designed to provide precise control in high-speed production lines. It is particularly beneficial for industries requiring delicate operations such as gear alignment and material testing. Kobe Kazuhiro, Senior Director of Industrial Products at Canon Singapore, highlighted the importance of automation in addressing workforce gaps, noting that the sensors allow robots to perform tasks requiring fine force adjustments.

The sensor’s advanced encoder technology minimises signal noise, offering clearer force feedback and smoother control. This ensures reliable performance even under continuous operation, reducing maintenance needs and downtime. Mitsubishi Electric’s MELFA FR series complements this with its High Drive function, enhancing positioning time and trajectory accuracy.

SEMICON Southeast Asia 2025, held from 20 to 22 May at Marina Bay Sands, marks the 30th anniversary of the region’s premier semiconductor exhibition. The event, themed “Stronger Together,” aims to foster collaboration across the global semiconductor ecosystem, featuring over 600 companies and attracting more than 20,000 attendees.

This partnership between Canon and Mitsubishi Electric represents a significant advancement in robotics automation, promising to enhance productivity and quality across various manufacturing processes in Southeast Asia.
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StarHub has launched its new flagship shop at Paragon on Orchard Road, designed to blend technology with a lifestyle experience. This innovative space marks the company’s 25th anniversary in Singapore, aiming to simplify and enhance everyday technology use for customers. The shop’s open layout, soft lighting, and natural textures create a calming environment, with The Lawn at its centre, surrounded by digital displays showcasing the latest products and services.

Upon entering, customers are greeted by a concierge instead of traditional queue systems. They receive an SMS when it’s their turn, ensuring a seamless experience. QR codes throughout the shop provide instant access to information and offers, catering to both independent browsers and those seeking assistance.

The shop features distinct zones, including a mobile and accessories area where customers can try out devices and premium accessories. The home entertainment zone offers an interactive experience with the latest content and connectivity options. A “Customer Favourites” wall highlights trending products, whilst a dedicated lounge offers Platinum customers priority service and complimentary coffee.

To celebrate the opening, StarHub is offering over $100 in discounts and vouchers on selected services until 8 June. Exclusive activities include a meet-and-greet with Premier League legends John Barnes and Joe Hart on 24 May, tech talks by Apple and OPPO, and free mobile health checks by Asurion.

StarHub’s new flagship shop represents a fresh chapter in its retail journey, focusing on personalising technology and enhancing customer support.
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