Industry News

Singapore’s stock market experienced notable institutional activity in April, with the Straits Times Index (STI) declining by 3.5% in price, though dividends softened the total return decline to 2.3%. The STI’s performance was impacted by global trade developments, which initially caused a 15% drop, followed by a 13% recovery. Despite these fluctuations, institutions net sold S$73m in Singapore stocks, predominantly from STI Banks, which saw a significant S$701m net outflow.

Singtel emerged as the standout performer, recording the highest net institutional inflow both in April and over the first four months of 2025. The telecommunications giant is set to announce its full-year results on 22 May. In its February update, Singtel reported an 11% increase in underlying net profit for the first nine months of FY25, reaching S$1.87b, although net profit fell by 2% to S$2.55b due to lower exceptional gains.

The telecommunications sector as a whole attracted S$522m in net institutional inflow in April, contributing to a four-month total of S$674m. This influx coincided with a 9.5% total return for the FTSE ST Telecommunications Index. Other sectors such as Industrials and Utilities also saw defensive returns, with net inflows of S$79m and S$41m, respectively.

Whilst the real estate investment trust (REIT) sector faced a net institutional outflow of S$74m, Frasers Centrepoint Trust, CapitaLand Ascendas REIT, and CapitaLand Integrated Commercial Trust were among the top 25 stocks with the highest net institutional inflow for the month. As the market navigates ongoing global trade challenges, the focus remains on sectors demonstrating resilience and attracting institutional interest.

“`

The latest Singapore market report, released on 2 May 2025, suggests that investors adopt a range-trading strategy as the Straits Times Index (STI) rebound stalls. The report highlights opportunities for stock rotation, recommending investors switch out of five stocks and rotate into seven others, including DFI, Netlink, and Keppel.

The report, accessible via DBS Vickers Securities, emphasises the importance of strategic trading amidst current market conditions. It identifies HPHT, SIA, UOB, VMS, and AEM as offering bi-directional trading opportunities, particularly in light of tariff-related news flow swings.

In the company focus section, Mapletree Industrial Trust (MINT) is noted for its resilience, with its FY25 distribution per unit (DPU) of 13.57 Singapore cents meeting market expectations. The trust’s Singapore portfolio is praised for its strength and diversity, which provide stability against projected weaknesses in US data centres. The report maintains a “BUY” call on MINT with a target price of $1.90 (S$2.60).

Sheng Siong Group (SSG) is also highlighted, with its first-quarter 2025 revenue reaching $295m (S$403m), a 7% year-on-year increase. Earnings for the quarter stood at $26m (S$36m), supported by revenue growth and gross margin expansion. The report anticipates further earnings growth in FY26, driven by new store openings, and raises the target price to $1.46 (S$2.00).

The report underscores the need for investors to remain vigilant and adaptable, leveraging strategic stock rotations and trading opportunities to navigate the current market landscape effectively.
“`

In Singapore, malicious bots now make up 45% of internet traffic, a significant increase from 35% in 2023, according to Thales’ 2025 Imperva Bad Bot Report.

The gambling, gaming, and automotive sectors are the most affected, with bad bots accounting for 99.96%, 97%, and 89% of traffic, respectively. The report highlights that AI tools have lowered the barriers for cybercriminals, allowing them to deploy bots at scale.

The report further revealed that automated bot traffic has overtaken human-generated traffic for the first time in a decade, accounting for 51% of global web traffic in 2024.

This surge is attributed to the rise of generative artificial intelligence (AI) and Large Language Models (LLMs), which have simplified the creation of bots, enabling less sophisticated actors to launch more frequent attacks.

Globally, the travel industry was the most attacked sector in 2024, with bot attacks rising to 27% from 21% in 2023. The report notes a shift from advanced to simpler bot attacks, indicating that AI-powered tools have made it easier for attackers to flood sites with basic bots.

Tim Chang, General Manager of Application Security at Thales, stated, “The surge in AI-driven bot creation has serious implications for businesses worldwide.” As automated traffic grows, organisations face increased risks from these bots, which are becoming more sophisticated and harder to detect.

The report also highlights a rise in API-directed attacks, with 33% of advanced bot traffic targeting APIs in Singapore. These attacks exploit vulnerabilities in API workflows, posing significant threats to industries reliant on APIs, such as financial services, healthcare, and e-commerce. Daniel Toh, Chief Solutions Architect at Thales, emphasised the need for businesses to adopt adaptive strategies and sophisticated bot detection tools to combat these evolving threats.
“`

Standard Chartered has announced the appointment of Noelle Eder as Group Head of Technology and Operations, effective 26 May 2025, pending regulatory approval. Eder will report directly to Group Chief Executive Bill Winters and will be based in Singapore. Her appointment comes as the bank seeks to enhance its digital capabilities and streamline operations through its Fit for Growth programme.

Eder brings a wealth of experience from her previous role as Executive Vice President and Global Chief Information Officer at The Cigna Group, where she led digital, technology, data, and operations strategies. Her career also includes senior roles at Hilton Worldwide Holdings and Capital One Financial Corporation. Recognised as one of the top 50 leaders in technology by Forbes and listed in WomenTech network’s 100 Executive Women in Tech to Watch for 2025, Eder is well-regarded in the industry.

Bill Winters commented on the appointment, stating, “Noelle joins us as we intensify efforts to streamline and simplify our systems and processes whilst harnessing emerging technologies to further improve our service to our clients.” Eder expressed her enthusiasm, saying, “I am thrilled to join Standard Chartered, a truly global and diverse organisation, and to embrace the exciting challenge of advancing its digital transformation.”

This strategic appointment underscores Standard Chartered’s commitment to innovation and digital transformation, aiming to better serve its clients and sustain growth. As Eder steps into her new role, the bank anticipates significant advancements in its technology and operations sectors.
“`

Sheng Siong Group Ltd., one of Singapore’s largest supermarket chains, has announced a 7.1% increase in revenue for the first quarter of FY2025, reaching $403m. This growth was primarily fuelled by the opening of new stores since FY2024 and increased sales during the Hari Raya festive period. The group’s net profit also saw a 6.1% rise, amounting to $38.5m for the quarter ending 31 March 2025.

The company reported a gross profit increase of 10.2% to $122m, with a gross profit margin improvement of 0.9 percentage points to 30.3%. This was attributed to an enhanced sales mix that helped offset rising business costs. Sheng Siong opened two new stores in the first quarter and secured six additional locations, with results pending for four more tenders.

Chief Executive Officer Lim Hock Chee commented, “Despite a more uncertain start to 2025, the Group remained focused and delivered steady performance in the first quarter, reflecting our operational strength and solid fundamentals.”

Looking ahead, Sheng Siong is focusing on refining its sales mix and diversifying its supplier base to enhance supply chain resilience. The group is also investing in automation and AI technology to improve operational efficiency amidst rising labour costs. With Singapore’s economic outlook cautious due to external macroeconomic headwinds, Sheng Siong aims to maintain its value-for-money proposition, catering to consumers seeking quality essentials at affordable prices. The company plans to open the newly secured retail locations by Q3 FY2025, continuing its strategy of network expansion.
“`

CapitaLand Investment Limited (CLI) has announced its business updates for the first quarter of 2025, revealing a 3% year-on-year increase in fee income-related business to $281m. However, the real estate investment business saw a 6% decline, bringing revenue down to $242m, attributed to the deconsolidation of CapitaLand Ascott Trust. The company also highlighted its application for the listing of CapitaLand Commercial C-REIT, marking the first international-sponsored China REIT focused on retail properties in the People’s Republic of China.

The fund management sector showed resilience, with listed funds’ fee income-related revenue rising by 3% year-on-year. CLI’s private funds expanded their Korean Credit Programme, securing two loans for a data centre and a Grade A office development. Additionally, the SEA Logistics Fund invested in an industrial development in Vietnam’s Amata City Ha Long Industrial Park.

In lodging management, CLI reported a 5% year-on-year growth in Revenue per Available Unit, driven by the Ascott brand’s diversification into full-service hotels and branded residences. Commercial management also saw a 4% increase in fee-related earnings.

Despite the challenges, CLI maintains a strong balance sheet, with up to $7.4b available for future investments. The company continues to focus on strategic capital deployment across logistics, industrial, lodging, private credit, and data centres. Looking ahead, CLI aims to leverage its robust financial position to navigate market uncertainties and pursue growth opportunities.
“`

Softbiz Pharma, a prominent exporter of pharmaceutical, nutraceutical, and personal care products, has announced the launch of its new deodorant range in Singapore. The company aims to cater to the increasing demand for high-quality personal care items in the region. The new collection offers a variety of scents, including options such as Pepper, Tangerine, Lavender, and Musk, under the “Pulse” line, and other unique blends like Saffron and Oud in the “Shadow” line.

The deodorant range is designed to appeal to diverse consumer preferences, with additional offerings such as “Blaze” featuring Citrus and Amber, and “Ocean” with Lychee and Lotus. Softbiz Pharma is also providing private label options, allowing businesses to market these deodorants under their own brands, which could be a significant opportunity for local retailers looking to expand their product lines.

Tanuj Madaan, Vice-President of Growth at Softbiz Pharma, expressed enthusiasm about the potential collaborations this launch could foster. “We are excited to present our new range of deodorants, designed to meet the rising demand for quality personal care products in your market,” he stated.

The introduction of this deodorant range marks a strategic move by Softbiz Pharma to strengthen its presence in the Singaporean market. By offering private label options, the company is positioning itself as a flexible partner for local businesses. As the demand for personal care products continues to grow, Softbiz Pharma’s new offerings could play a pivotal role in meeting consumer needs and supporting business growth in the region.
“`

Asia Pacific Breweries Singapore (APBS), part of The HEINEKEN Company, has climbed to 2nd place on Singapore’s Best Employers 2025 list, as recognised by The Straits Times and Statista. The company has also maintained its Great Place to Work certification for the third consecutive year. APBS attributes its success to empowering employees to take initiative and make impactful changes within the workplace.

APBS has fostered a culture where employees are encouraged to bring the company’s values to life through various initiatives. These include sustainability projects like the “Race to Reduce” Ideathon, which led to eco-friendly improvements such as a returnable lunchbox system and water-saving taps. The company is also committed to supporting the United Nations’ Sustainable Development Goals.

In response to employee feedback, APBS has enhanced its workplace amenities, adding a new recreation space with facilities for badminton, table tennis, and wellness activities. This initiative was designed and championed by the employees themselves, reflecting the company’s commitment to prioritising staff wellbeing.

Mental health is another area of focus for APBS. The company has introduced initiatives such as Muay Thai classes and creative workshops to normalise mental health conversations. Additionally, a 24/7 on-demand support app has been launched in partnership with mental health experts to provide confidential care.

Shaun Ee, Cluster Head of People at The HEINEKEN Company, stated, “These workplace recognitions belong to our people, who consistently go above and beyond in their roles and look out for one another as a team.” As APBS continues to grow, its culture of trust and empowerment remains central to its operations, reinforcing its status as a top employer.
“`

PwC has announced a new brand positioning aimed at better reflecting its commitment to mobilising experience and technology to support its clients. This strategic shift was unveiled on 30 April by PwC Singapore, underscoring the firm’s dedication to aligning its services with the evolving needs of businesses in a rapidly changing global economy.

The new brand positioning is designed to showcase how PwC leverages both its extensive experience and cutting-edge technology to deliver value to clients. This move is part of a broader strategy to enhance client engagement and ensure that PwC remains at the forefront of innovation in the professional services sector.

In a statement, PwC highlighted the importance of this rebranding in reinforcing its role as a trusted partner for businesses navigating complex challenges. The firm emphasised that the new positioning reflects its ongoing efforts to integrate advanced technological solutions into its service offerings, thereby enabling clients to achieve their strategic objectives more effectively.

This announcement comes at a time when the global economy is undergoing significant transformation, with technology playing a pivotal role in reshaping industries. PwC’s focus on technology and client support is expected to position the firm as a leader in helping businesses adapt to these changes.

Looking ahead, PwC’s new brand positioning is likely to influence its future initiatives and collaborations, as the firm continues to prioritise innovation and client-centric solutions.
“`

GenInnov Pte. Ltd., a burgeoning fund management company based in Singapore, has officially launched its operations, focusing on transformative innovation investments across various sectors and geographies. This significant development marks a new chapter for the company as it seeks to shape the future of investment strategies.

The company’s Chief Operating Officer, Rahul Sinha, highlighted GenInnov’s commitment to not only investing in the future but also influencing the discourse surrounding it. “Our thought leadership on GenAI is gaining traction, and we believe it will resonate with your audience,” Sinha stated. This emphasis on thought leadership is evident in GenInnov’s recent publications, which explore the evolving landscape of technology and innovation.

GenInnov’s insights include articles such as “Beyond AI: The Rise of the Innovation Era,” “The End of Software’s Golden Age,” and “The Transformer Tsunami: How New Tech is Swallowing the Old.” These pieces reflect the company’s dedication to understanding and navigating the rapidly changing technological environment.

The launch of GenInnov’s fund management operations is particularly relevant for accredited investors and institutions, as the company aims to provide them with opportunities to engage with cutting-edge innovations. As GenInnov continues to expand its influence, it is poised to play a pivotal role in the investment landscape, fostering growth and innovation across diverse fields.
“`