Industry News

PATRIZIA and Mitsui & Co., Ltd. have announced a strategic partnership with Kaer, committing up to $350m to expand Kaer’s Cooling as a Service (CaaS) business across Asia. This investment, made through the APAC Sustainable Infrastructure Fund (A-SIF), is set to accelerate the transition to low-carbon cooling solutions in high-growth Asian markets.

Kaer will use the funds to enhance its presence in Singapore, Malaysia, India, and Indonesia, whilst also entering new markets such as Thailand and Vietnam. The company, which experienced 30% growth in 2024 and anticipates a further 50% growth in 2025, aims to deliver low-carbon cooling to up to 100 million square feet of commercial real estate by 2028, potentially eliminating 120 million kilograms of carbon emissions.

Saji Anantakrishnan, Head of Infrastructure for Australia and Asia at PATRIZIA, highlighted the strategic nature of this investment, stating, “Kaer has built a market-leading business in an emerging sector that delivers both sustainability benefits and cost savings to customers.”

Kaer will maintain its current management structure, with A-SIF initially holding a minority stake. Justin Taylor, CEO of Kaer, remarked, “This partnership with PATRIZIA and Mitsui through A-SIF is a significant milestone for Kaer and the global Cooling as a Service movement.”

This investment underscores PATRIZIA’s commitment to sustainable infrastructure, following recent investments in renewable energy and urban mobility. The focus remains on infrastructure that enhances the built environment and integrates smart technologies.
“`

A recent report by CIMB Singapore reveals that 63% of Singapore residents aspire to achieve financial independence between the ages of 40 and 60. The study, conducted in collaboration with the Nanyang Centre for Marketing and Technology, surveyed over 500 residents aged 26 to 60, highlighting their perceptions and behaviours towards financial planning.

The report indicates that 52% of respondents believe they need over S$1m to reach financial independence, defined as being free from financial worries. Despite this, 72% consider financial independence a realistic goal, with 43% confident in managing their finances to achieve it. However, high living costs, family responsibilities, and low income are cited as the main barriers.

Interestingly, younger residents under 30 show the most confidence, with 60% aiming for independence before 40 and 54% confident in their financial management skills. In contrast, only 39% of those aged 40 to 50 and 43% of those aged 50 to 60 feel similarly confident.

The report also highlights a generational divide in financial planning, with younger residents more willing to seek advice. CIMB Singapore’s Head of Wealth Management, Raymond Tan, emphasised the importance of supporting all generations in their financial journeys.

CIMB Singapore is committed to educating the public on financial planning, as evidenced by their InsureXpo event, which brought together industry leaders to discuss insurance and financial wellbeing. The bank aims to empower individuals to make informed decisions about their financial futures.
“`

The OCBC SME Index for the first quarter of 2025 has contracted to 49.9, down from 50.7 in the previous quarter, marking a shift into contractionary territory after three quarters of expansion. This decline is attributed to the impact of US trade tariffs and global trade uncertainties. The index, which provides a barometer of SME business health in Singapore, shows that overall collections grew by 1.7% year-on-year, whilst payments remained flat.

The GDP Nowcast based on the OCBC SME Index for Q1 2025 is 3.7%, a decrease from the 5.0% recorded in Q4 2024, aligning with the Ministry of Trade and Industry’s advance estimates of 3.8%. The announcement of US tariff measures on 2 April is expected to further weaken the business outlook for SMEs, particularly in outward-oriented sectors such as ICT, Transport & Logistics, and Wholesale Trade. These sectors have significant overseas collections, with 7% directly from US-based payers.

The OCBC SME Business Outlook poll, conducted before the US tariffs, revealed that 41% of SME business owners felt conditions were unchanged, 36% saw improvements, and 23% noted deterioration. However, the ongoing global trade disruptions and supply chain reconfigurations have led over a quarter of business owners to identify geopolitical uncertainties and market competition as major challenges in the coming months.

Industries such as Transport & Logistics, Business Services, and Wholesale Trade are expected to be most affected by these factors. Additionally, SMEs have experienced an average wage bill increase of 9.7% in Q1 2025, with some sectors witnessing even steeper growth. As global trade norms evolve, the OCBC SME Index is likely to ease further, reflecting lower business confidence and increased economic pressures.
“`

Charge+ has launched Singapore’s first Direct Current (DC) fast electric vehicle (EV) charger in a Housing & Development Board (HDB) surface car park at Boon Lay Place Market. This development, officiated by Senior Minister of State Dr Amy Khor, marks a significant milestone in Singapore’s push towards widespread EV adoption.

The introduction of DC chargers in HDB car parks aims to cater to EV drivers who require faster charging options, particularly those who drive longer distances and need to charge more than once a day. Whilst Alternating Current (AC) chargers remain prevalent for overnight charging, DC chargers offer a quicker solution for high-traffic areas. Charge+ plans to expand this network to six additional HDB car parks by mid-2025, including locations at Beach Road, Bukit Merah, Bukit Panjang, Ghim Moh, Jurong East, and Kallang Bahru.

Charge+, Singapore’s largest EV charging operator, has been a pioneer in deploying public EV chargers in HDB estates. The company currently operates over 1,300 charging points across four of Singapore’s five regions. “We are pleased to introduce the first of many DC chargers in HDB car parks, which affirms our commitment to supporting EV drivers with diverse and accessible charging solutions,” said Goh Chee Kiong, CEO of Charge+.

This strategic deployment of DC chargers is part of Singapore’s broader EV roadmap, contributing to a sustainable EV ecosystem as the nation advances towards a greener future. Charge+ continues to play a pivotal role in this transformation, with plans to operate 30,000 charging points globally by 2030.
“`

Leong Yik Engineering & Contractor has launched a newly redesigned website to commemorate its seventh anniversary in Singapore. The updated platform, unveiled on 16 April 2025, boasts a streamlined layout, improved navigation, and an intuitive user interface, all aimed at enhancing the user experience for both new and returning visitors.

The website’s “Our Projects” section has undergone significant enhancements, now offering a comprehensive view of the company’s past work. From residential projects to large-scale commercial renovations, this section features detailed visuals, project descriptions, and client testimonials. The redesign places a stronger emphasis on project transparency and user engagement, providing potential clients with a clearer understanding of Leong Yik’s capabilities and standards.

Additionally, the website facilitates easier access to information about specific services such as roof leakage repair and wall plastering. Users can now effortlessly find relevant details and assess service suitability, whether they are seeking a contractor for ceiling water damage repair or wall hacking. The site also highlights Leong Yik’s expertise in cement screed and concrete screed flooring, crucial for creating durable and level surfaces.

As an HDB-approved tiling contractor and BizSafe Star accredited company, Leong Yik continues to build trust through quality workmanship and safety compliance. The new website reflects the company’s commitment to professional growth and client satisfaction, following months of preparation to preserve SEO rankings and develop new content.

Founded in 2017, Leong Yik Engineering & Contractor has established itself as a reliable name in Singapore’s renovation sector, offering practical and long-lasting solutions tailored to modern clients’ needs. The website launch signals the company’s future direction, focusing on expanding service offerings, exploring new technologies, and enhancing community engagement.
“`

The Singapore Manufacturing Federation (SMF) and Tuas Power have announced a strategic partnership to enhance sustainability initiatives among small and medium-sized enterprises (SMEs) in Singapore. This collaboration, unveiled on 16 April 2025, aims to provide SMEs with structured sustainability support, including access to certifications, green financing, and carbon offset opportunities.

Tuas Power is offering up to $2,200 (S$3,000) in credits to eligible customers who participate in SMF’s Chief Sustainability Officer-as-a-Service (CSOaaS) programme. This initiative is designed to lower the barriers to entry for SMEs embarking on their sustainability journey. The CSOaaS programme, offered by SMF’s Centre for Sustainability and Resilience, is a comprehensive one-year initiative that helps businesses establish baseline sustainability metrics and build roadmaps for future growth.

The funding provided by Tuas Power is tiered based on contract length and energy consumption. Existing customers with more than six months remaining on their contracts can receive $730 (S$1,000), whilst new sign-ups or renewals for 12, 24, or 36 months can access between $730 and $2,200 (S$1,000 and S$3,000). Eligibility requires a monthly energy usage exceeding 0.5MW (372 MWh/month).

Lennon Tan, President of SMF, expressed pride in the partnership, stating, “This project embodies how large corporations can use their platforms to uplift entire ecosystems, helping SMEs become more resilient and future-ready.”

This collaboration is significant as SMEs contribute approximately 47% to Singapore’s GDP. With the combined efforts of Tuas Power’s commercial network and SMF’s structured support, the partnership aims to create a ripple effect of green transformation across various industries. The initiative marks the beginning of a year-long partnership with aspirations for long-term impact and leadership in sustainable development.
“`

Internship opportunities in Singapore have doubled from 2022 to 2025, as companies increasingly seek creative talent and soft skills to drive innovation, according to a report by global job portal Indeed. The past year alone saw a 47% increase in postings, with creative industries such as marketing, media, and the arts leading the demand.

Indeed’s Talent Strategy Adviser, Rohan Sylvester, highlighted the importance of interns in fostering innovation. “The surge of interns reflects an ongoing commitment to innovation from Singapore’s businesses, who are investing in new digital technologies and transforming their customer engagement strategies,” he said. Interns are seen as vital for bringing creativity and fresh perspectives to the table.

The report identifies communication skills as the most sought-after, appearing in 30% of internship postings. Other top skills include Microsoft Office proficiency (15%) and analytical skills (9%). Whilst technical skills remain important, employers are focusing on critical tasks and leveraging automation to streamline processes.

Sylvester emphasised the value of developing a blend of hard and soft skills, noting that interns who can adapt and innovate will thrive. “Students and fresh graduates should capitalise on the surge of internships to develop holistic T-shaped skillsets,” he advised.

As Singaporean businesses continue to prioritise innovation, the demand for interns with creative and adaptive skills is expected to grow, offering significant opportunities for young talent in the coming years.
“`

Seagate Technology has unveiled its “Decarbonising Data” report, revealing significant sustainability challenges for Singapore’s data centres as they strive to meet the increasing demands driven by artificial intelligence (AI). The report, released on 16 April 2025, highlights that Singapore requires an estimated $5.5 billion investment to make its data storage operations sustainable, exceeding the global average of $4.9 billion.

The report underscores the growing pressure on businesses to scale data centres rapidly whilst managing energy consumption and costs sustainably. Key findings indicate that 70% of Singaporean respondents cite limited access to alternative electricity sources as a major obstacle, with 33.3% also pointing to workforce training costs as a significant challenge.

AI is a major driver of increased demand, with all Singaporean respondents agreeing that AI will significantly impact the need for data centre operations. More than half reported rising demand for data storage within their companies, placing Singapore among the top three markets globally.

Despite 90% of respondents expressing environmental concerns, sustainability remains a low priority in purchasing decisions for data storage infrastructure. Jason Feist, Seagate’s senior vice president of cloud marketing, stated, “Data centres are under intense scrutiny—not only because they support modern AI workloads, but because they are becoming one of the most energy-intensive sectors of the digital economy.”

The report suggests that organisations can achieve both cost efficiency and sustainability by improving existing infrastructure, expanding data centre footprints, or migrating workloads to the cloud. It also outlines three strategic pillars for sustainable data growth: technological innovation, life cycle extension, and shared accountability across the ecosystem.

As global electricity demand from data centres is predicted to double by 2030, addressing these sustainability challenges is crucial for Singapore to maintain its competitive edge as a data centre hub.
“`

Seveno Capital, a new Singapore-based venture capital fund, has launched with a $70m commitment from wellness entrepreneur Allen Law, marking a significant move in the healthspan investment sector. The fund aims to support early and growth-stage ventures that enhance human healthspan, with its first investment in Japan-based A Cabin Company, which transforms unused rural land into wellness cabins.

Allen Law, founder of Park Hotel Group, will serve as Principal at Seveno Capital. He has been building a global portfolio focused on fitness, wellness, and longevity since 2023. Law stated, “We are proud to launch Seveno Capital with an inaugural investment in A Cabin Company. Nature is a pillar of lifestyle medicine, and A Cabin Company is rethinking human wellbeing.”

A Cabin Company, founded by Mori Nishimura, creates compact, design-forward cabins on rural land near major cities. These cabins, classified as vehicles, avoid zoning regulations and infrastructure costs, allowing rapid deployment. The company plans to open its first location in Chiba, Japan, and expand to Seoul, New York, and Europe, with 380 cabins planned across Greater Tokyo and Osaka by 2029.

Nishimura highlighted the importance of reconnecting with nature, stating, “With backing from Seveno Capital, we’re unlocking life in ‘the in-between’—the quiet, often overlooked spaces where the city ends and the wild begins.”

Seveno Capital’s investment underscores a growing trend in wellness and longevity, focusing on improving healthspan rather than just lifespan. The fund aims to cultivate a thriving ecosystem of impact-first businesses that enhance human health and well-being.
“`

China Everbright Water Limited, a company listed on the Singapore Exchange, has successfully issued the second tranche of its 2025 medium term notes, attracting significant interest from institutional investors in mainland China’s national inter-bank bond market. The issuance, completed on 16 April 2025, saw a subscription rate of 3.28 times, highlighting strong market confidence in the company’s prospects.

The 2025 Second Tranche Medium Term Notes (MTNs) have a principal amount of RMB1 billion, a five-year maturity period, and an interest rate of 1.90%. The proceeds are earmarked for repaying Everbright Water’s outstanding debts. Both the notes and the company have been rated “AAA” by Shanghai Brilliance Credit Rating & Investors Service Co., Ltd. Everbright Securities Company Limited led the underwriting, with China Construction Bank Corporation, Shanghai Pudong Development Bank Co., Ltd., Ping An Bank Co., Ltd., and China Minsheng Banking Corp., Ltd. acting as joint lead underwriters.

This issuance follows the company’s December 2024 registration of multiple debt financing instruments totalling RMB8 billion, approved for issuance in various tranches. In January 2025, Everbright Water issued the first tranche of its 2025 MTNs, amounting to RMB1.5 billion, achieving a record-low interest rate of 1.78% for panda bonds with a three-year maturity.

The successful issuance of the 2025 Second Tranche MTNs underscores the market’s support for Everbright Water. The company plans to continue monitoring economic trends and exploring innovative financing models to optimise its debt structure and control costs. This strategic approach aims to provide stable capital support amid challenging market conditions.
“`