Industry News

CGS International has reaffirmed its ‘buy’ rating for Elite UK REIT, following a series of site visits to the company’s properties in Scotland. The visits, which included locations in Edinburgh, Falkirk, Dundee, and Glasgow, highlighted the stability of income streams from government tenants, reinforcing the REIT’s defensive cashflow strategy. As of the first quarter of 2025, these Scottish assets represent 16.7% of Elite’s portfolio assets under management and contribute 10.1% to its total gross rental income.

The report from CGS International underscores Elite’s strategic advantage in repositioning assets into growth sectors like purpose-built student accommodation (PBSA). A notable example is the planned conversion of Lindsay House in Dundee into a 168-bed student accommodation, leveraging its proximity to local universities. This move is expected to enhance Elite’s portfolio value and address the growing demand for student housing.

CGS International has increased its distribution per unit (DPU) forecasts for Elite from 2025 to 2027 by 1.26% to 3.07%, reflecting a robust first half of 2025 and contributions from recent property acquisitions. The target price has been raised to £0.38, supported by the REIT’s stable earnings and the potential for net asset value (NAV) uplift through property repurposing.

With the interest rate cycle peaking, CGS International anticipates Elite’s book NAV to remain resilient, offering further value through strategic asset management. The REIT’s FY25 dividend yield is projected at 8.6%, translating to a total return of approximately 19%. Potential catalysts for re-rating include NAV boosts from valuation uplifts and increased dividend payouts, although tenant concentration remains a risk factor.
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Longbridge Securities, an AI-driven online brokerage platform regulated by the Monetary Authority of Singapore, has been awarded the Fintech Initiative Award at the 2025 Asian Banking & Finance Fintech Awards. This accolade highlights Longbridge’s innovative approach to financial technology, particularly its success in enhancing the investment experience through intelligent and accessible solutions.

The award acknowledges Longbridge’s impressive performance in 2024, where the platform saw a 450% surge in user assets and a 220% increase in active users across Singapore and Hong Kong. The company’s commitment to 0% commission trading has saved clients over $20 million in trading fees, making it the only brokerage in Singapore offering zero-fee trading across the US, Hong Kong, and Singapore markets.

Longbridge’s product roadmap is tailored to global investors, offering access to over 32,000 financial products, including stocks, ETFs, and US options. In 2024, the platform introduced over 120 new features, including overnight trading and fractional share investing, allowing users to trade beyond traditional hours.

The introduction of PortAI, an AI-powered financial assistant, has further cemented Longbridge’s position as a leader in AI application within finance. With over 1 million user interactions in 2024, PortAI helps users navigate market information and portfolio insights effectively.

Looking ahead, Longbridge remains focused on product innovation and enhancing user-centric services. CEO Xu Shengyu stated, “Technology has the power to democratise investing. We are committed to building a truly investor-first platform and remain confident in the long-term potential of Singapore and global capital markets.”
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ONERHT Foundation successfully hosted its 8th Greening ASEAN Initiatives and Leadership (GAIL) Forum on 22 July 2025 at Suntec Singapore Convention and Exhibition Centre. The event, attended by over 100 participants, focused on green leadership, ESG regulatory frameworks, carbon markets, and the role of artificial intelligence in promoting sustainability. The forum, themed “Industry, Business, and Regulatory Perspectives on Climate Mitigation and Adaptation,” featured a half-day programme of discussions and knowledge exchange.

Senior Minister of State Low Yen Ling from the Ministry of Culture, Community and Youth, and the Ministry of Trade and Industry, delivered the keynote address as the Guest of Honour. Kaylee Kwok, Chairman of ONERHT Foundation, remarked, “At GAIL 2025, we saw a powerful convergence of actionable insights and strategies from business and industry leaders as well as sustainability domain experts.”

The forum included a dynamic fireside chat on “The Future of Green Leadership in ASEAN,” exploring leadership models driving sustainability agendas. A presentation on “Navigating ASEAN’s Green Transition: Legal and Policy Pathways” provided updates on ASEAN’s progress in carbon markets and corporate responsibility. Discussions also covered the current state of carbon markets in Asia, investment opportunities, and evolving legal frameworks.

Chng LiLing, Director of RHT GRACE Institute, emphasised the importance of embedding sustainability into governance frameworks, stating, “ESG is now foundational for the long-term success of any business.”

Since its inception in 2018, the GAIL Forum has become a central platform for sustainable development across ASEAN, raising over $4 million (S$5.5 million) to support more than 35 charitable organisations.
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Singapore’s industrial property market demonstrated remarkable resilience in Q2 2025, with a significant 185.5% increase in total sales value, reaching S$2.2 billion, according to Knight Frank’s analysis of JTC’s latest statistics. The sector’s stability is attributed to robust buyer interest and an active investment market, despite global supply chain disruptions and US-imposed tariffs.

The all-industrial price index rose by 1.4% quarter-on-quarter (q-o-q), whilst the rental index saw a 0.7% increase. The number of transactions also climbed to 424, a 4.7% rise from the previous quarter. Notable transactions included the sale of a data centre at 9 Tai Seng Drive for S$455.2 million and business park properties, The Strategy and 5 Science Park Drive, for S$280.0 million and S$245.0 million, respectively.

Leonard Tay, Head of Research at Knight Frank Singapore, noted that Singapore remains an attractive hub for investors and businesses. “Despite the current turmoil among goods-producing countries, Singapore continues to be a trusted investment and business hub,” he stated. The minimal 10% tariffs imposed by the US on Singapore, compared to other South-East Asian nations, have been a consideration for globally mobile manufacturers.

The industrial sector’s appeal is further bolstered by new developments, such as Cariflex’s polyisoprene plant on Jurong Island and Alcon Manufacturing’s expanded operations in Tuas. Additionally, Micron Technology’s upcoming S$8.9 billion plant in Woodlands and the National Semiconductor Translation and Innovation Centre for Gallium Nitride at one-north are set to enhance Singapore’s manufacturing capabilities.

Looking ahead, the industrial investment environment is expected to remain stable, with investors seeking logistics and multiple-user industrial assets. However, the global manufacturing outlook remains uncertain, potentially affecting rental growth in the latter half of 2025.
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Timbre Group is celebrating its 20th anniversary with the launch of two new venues and a series of tribute performances. From its inception as a live music bar at The Substation in 2005, Timbre has grown into a multi-concept food and beverage (F&B) and lifestyle group, renowned for supporting local talent and community initiatives.

The anniversary celebrations will commence on 31 July at Timbre+ One North, featuring performances from popular acts, including the reunion of the original house band Jack & Rai with EIC. The festivities will also see the opening of Timbre+ Hillview, a 27-stall food collective with live music, and Timbre Signatures Café @ Siglap, a community-first café supporting social causes.

Danny Loong, Timbre’s Co-Founder and CEO, reflected on the journey, stating, “When we started Timbre in 2005, it was simply about creating a stage for local musicians. We never imagined we’d still be standing 20 years on, especially after the storms we’ve weathered.” He highlighted the challenges faced during the COVID-19 pandemic and the resilience of the community that kept the spirit of live music alive.

The celebrations will also include the “Gift a Guitar” campaign, where Prime Minister Lawrence Wong auctioned his guitar to fund music education for youth. This initiative underscores Timbre’s commitment to social impact and youth empowerment.

As Timbre enters its next chapter, it continues to champion creativity and community, proving its resilience and adaptability in Singapore’s dynamic F&B landscape.
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Office rents in Singapore’s Central Business District (CBD) have remained stable in the second quarter of 2025, despite global economic uncertainties. This stability is attributed to low vacancy rates and a limited pipeline of new office supply, according to Savills’ latest report.

Leasing activity in premium office buildings saw a notable increase during this period, driven by tenant relocations and a sustained interest in high-quality office spaces. Although there were no block transactions, the strata sales market experienced a significant uptick, with deals rising from three in the first quarter to eleven in the second quarter. This surge doubled the total value of strata investment sales, indicating renewed investor interest in smaller-scale office assets.

Savills’ data shows that the vacancy rate for CBD Grade A offices declined for the second consecutive quarter, dropping 0.7 percentage points to 7.0%. Grade A offices saw the steepest decline, with vacancy rates falling 1.0 percentage points to 6.2%.

The average monthly rent for CBD Grade A offices increased by 0.3% to S$9.86 per square foot, marking the fifth consecutive quarter of growth. However, this represents a slight moderation from the 0.4% growth recorded in the first quarter.

Looking ahead, Savills anticipates that the impact of regional tariffs may cause businesses to delay taking up space. However, as tariffs are negotiated down, rents for CBD Grade A offices are expected to remain flat in 2025, with a projected rise of 2% in 2026.
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The Institution of Engineers, Singapore (IES) has successfully concluded its Charity Golf 2025 event at Sentosa Golf Club, raising a total of $230,000. The funds will bolster the IES Scholarship Fund and support the Cerebral Palsy Alliance Singapore (CPAS). The event, attended by Speaker of Parliament Seah Kian Peng, highlighted IES’s commitment to inclusive engineering education and social causes.

Proceeds from the event will enhance the IES Scholarship Fund, which aims to award its first six bond-free scholarships this year. A total of $180,000 will be distributed among students from the Institute of Technical Education, polytechnics, and universities. Launched in July 2024, the fund seeks to support at least 35 students over six years, empowering them to contribute to Singapore’s engineering sector.

IES has a longstanding commitment to advancing engineering education, having established the YC Wong–IES Research in Construction Project Management Fund and partnered with Yayasan Mendaki to support Malay-Muslim students. The organisation’s efforts underscore its dedication to nurturing homegrown talent and promoting equal opportunities.

In addition to educational initiatives, IES has allocated $50,000 to CPAS to assist individuals with cerebral palsy and multiple disabilities. This donation reflects IES’s broader mission to support various social causes, including the Moral Home for the Aged Sick and the Children’s Charities Association of Singapore.

Simon Lee, IES Charity Golf 2025 Organising Chair, expressed gratitude to sponsors, donors, and participants, stating, “Every swing today wasn’t just for sport, it was a step toward a more inclusive and forward-looking Singapore.” The event exemplifies IES’s belief in investing in people to build a resilient nation.
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Scientists from Duke-NUS Medical School and Nanyang Technological University, Singapore, have uncovered a novel communication system in the gut, where support cells known as telocytes use fine extensions to deliver signals directly to intestinal stem cells. This discovery, published in the journal Developmental Cell, challenges previous assumptions about gut maintenance and regeneration, potentially leading to improved treatments for conditions such as inflammatory bowel disease (IBD) and colon cancer.

The intestinal lining, one of the body’s most active tissues, renews itself every few days through stem cells located in crypts within the gut lining. Previously, it was believed that chemical signals, called Wnts, reached these stem cells through diffusion. However, the study reveals that telocytes deliver these signals with precision, akin to neurons in the brain. Professor David Virshup from Duke-NUS explained, “We discovered that these signals aren’t just drifting through tissue. They’re being delivered with surprising precision from the niche to the stem cells by specialised cells or telocytes.”

Using advanced imaging techniques, researchers observed telocytes in the mouse intestine using cytonemes—long, thin extensions—to deliver Wnts directly to stem cells. This neuron-like behaviour in gut cells offers a new understanding of organ maintenance. Assistant Professor Alexander Ludwig from NTU Singapore noted, “It’s a striking example of how imaging at different scales coupled with new protein tagging approaches can uncover novel mechanisms and change paradigms.”

The study also highlights the role of proteins KANK and Liprin in forming cytonemes. Disruptions in these proteins affected the Wnt transport system, underscoring the importance of this precise communication. Professor Patrick Tan from Duke-NUS emphasised the broader implications, stating, “This discovery could change how we approach tissue repair and regenerative medicine.”

The findings suggest that harnessing this communication system could enhance stem cell therapies and lead to more targeted treatments for gut-related diseases.
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Knight Frank Singapore has released The Quality of Life Report: Building a Liveable City 2025, a comprehensive study conducted with Ipsos, revealing the evolving aspirations of Singaporeans in terms of living, working, and leisure. The study surveyed 1,000 residents, highlighting concerns such as home affordability, with 43% of those aged 25 to 34 expressing worry about buying a home in the next three to five years.

The report aligns with the Urban Redevelopment Authority’s “Live, Work, Play” framework, examining how Singapore’s built environment can support these aspirations. Key findings show that work-life balance is prioritised by 79% of respondents over compensation and benefits. Additionally, dining out and travel emerged as top leisure activities, preferred by 66% and 64% of participants, respectively.

Alice Tan, Head of Consultancy at Knight Frank Singapore, emphasised the importance of considering the built environment’s impact on quality of life in urban planning. The report’s insights aim to influence real estate development, ensuring spaces are economically viable and socially resilient.

The findings will be discussed at an exclusive event featuring panel discussions with experts from various sectors. Galven Tan, CEO of Knight Frank Singapore, expressed hope that the report will inspire changes in how homes, offices, and community spaces are designed to meet contemporary demands. The report is available for download, offering a detailed look at the future of urban living in Singapore.
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Centurion Corp has announced plans to list its Centurion Accommodation Real Estate Investment Trust (REIT), prompting a significant increase in its target price from SGD1.50 to SGD2.01. This move reflects the anticipated market value of its REIT assets, which are set to be floated. The updated valuation methodology, shifting from price-to-earnings to a sum-of-parts approach, includes both the core business and the estimated value of the REIT assets.

The decision to list the REIT is seen as a strategic step to unlock the value of Centurion Corp’s assets, offering a 20% upside potential. Analyst Alfie Yeo from RHB has maintained a “BUY” recommendation, highlighting the positive outlook on the company’s future performance.

The REIT listing is expected to enhance Centurion Corp’s market presence and provide investors with a more transparent valuation of its assets. This development is part of a broader strategy to optimise the company’s asset portfolio and improve shareholder returns.

The increased target price and positive outlook underscore the potential benefits of the REIT listing for Centurion Corp. As the company moves forward with its plans, investors will be keenly watching for further updates on the listing process and its impact on the company’s financial performance.
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