Industry News

CSE Global, a company listed on the Singapore Exchange, is capitalising on the megatrends of urbanisation, electrification, and artificial intelligence (AI) to drive growth. In the financial year 2024, the company’s revenue increased by 18.8% year-on-year to S$861 million, with net profit also seeing a rise. This growth is attributed to the company’s strategic focus on mission-critical solutions that support major operations such as power grids, manufacturing, and data centres.

The company’s solutions are pivotal in several areas, including electrification, where they design and integrate complex electrical distribution systems for data centres. In communications, CSE Global develops advanced network systems to enhance safety and performance. Additionally, their automation solutions include setting up safety shutdown and production control systems, ensuring seamless operations.

CSE Global recently raised S$24 million through a placement of 60 million shares. The proceeds are being utilised to further strengthen their business segments, which are expected to evolve significantly over the coming years. The company is poised to continue leveraging these industry trends to sustain its growth momentum.

The insights into CSE Global’s strategies and future plans are part of the “10 in 10” series, which provides a concise overview of SGX-listed companies through a series of management Q&As. This initiative aims to offer a deeper understanding of the company’s objectives and the broader industry landscape.
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Homegrown water purifier brand Happie is marking its third anniversary with a series of significant developments, including the opening of a new Experiential Centre at 1 Sims Lane in Singapore and a nationwide ‘Shop & Win’ giveaway. The giveaway, in collaboration with Volt Auto, offers customers the chance to win a Dongfeng Box EV worth over $90,000. This campaign runs from 3 March to 6 September 2025, with all purchasers of Happie water purifiers during this period automatically entered into the draw.

Founded in 2022 by Benjamin and Sharon, Happie has rapidly expanded, serving over 20,000 customers with its minimalist, Korean-tech-powered water dispensers. The new 1,400 sq ft centre, an upgrade from their previous 900 sq ft space, is designed to host live demonstrations and community events, enhancing customer engagement. “This new centre is more than just a showroom—it’s a reflection of what Happie stands for: simple, beautiful solutions that make life easier,” said founder Benjamin Ling.

Adding to the celebration, Singaporean media icon Zoe Tay has been announced as Happie’s brand ambassador. Tay, known for her commitment to healthy living, praised the brand’s eco-conscious design and energy-saving features. “I believe in choosing products that support a greener future,” she stated.

Looking ahead, Happie plans to expand its product range beyond water purifiers, with a new home appliance set to launch in Q4 2025. This move aims to establish Happie as a broader household name, building on its foundation of premium purification solutions.
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Singapore is set to transform its oncology landscape with the introduction of ultrasound-based histotripsy trials, a non-invasive technology aimed at improving outcomes for liver, kidney, and pancreatic cancer patients. The Li Ka Shing Foundation and Temasek Trust have committed $8.8 million (SGD12 million) to fund these trials, marking the first of their kind in Southeast Asia. The trials will be conducted at the National Cancer Centre Singapore and the National University Cancer Institute, Singapore, involving 40 patients.

Histotripsy employs focused ultrasound to create microbubbles that expand and collapse, generating shock waves to disintegrate tumours at the cellular level. Unlike traditional surgical or radiation treatments, histotripsy offers a pain-free, bloodless, and incision-free alternative, even for inoperable tumours. Jyoti Sharma, a Medical Devices Analyst at GlobalData, stated, “The advent of histotripsy represents a significant advancement in non-invasive oncology treatment.”

The funding will equip both cancer centres with a histotripsy system each, enhancing Singapore’s position in global cancer research and innovation. Sharma added, “By leveraging advanced technology and fostering cross-sector collaboration, Singapore not only enhances the treatment options available to its local patients but also establishes itself as a regional leader in medical research and innovation.”

This initiative underscores Singapore’s commitment to advancing cancer treatment and could pave the way for broader applications of histotripsy in oncology, potentially offering new hope for patients with previously untreatable tumours.
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The latest retail report from Knight Frank Singapore reveals a burgeoning food and beverage (F&B) sector, with 3,793 new F&B establishments opening in 2024, against 3,047 closures. This trend suggests an oversupply in the market, prompting calls for regulatory measures to ensure sustainability. Ethan Hsu, Head of Retail at Knight Frank Singapore, noted the need for market cooling measures to maintain a sustainable sector.

Prime retail rents in Singapore showed marginal growth in Q1 2025, with Orchard rents at S$31.20 per square foot per month and suburban areas at S$26.80. Despite this, the retail environment remains challenging due to rising operational costs and labour constraints. The average gross rent of prime retail spaces increased by 0.3% quarter-on-quarter to S$27.90 per square foot per month.

Visitor arrivals in Singapore are on the rise, with 3 million international visitors recorded in January and February 2025, indicating a recovery towards pre-pandemic levels. However, a decline in February’s figures, coupled with impending US tariffs, could signal future challenges.

The report also highlights the rapid expansion and subsequent closures within the F&B sector, with notable closures including Eggslut and Burger & Lobster. The proliferation of F&B outlets, particularly in malls, raises concerns about market saturation. Hsu suggests potential regulatory controls, such as limiting F&B licences and capping net lettable areas, to manage growth sustainably.

As Singapore’s retail sector grapples with high costs and market uncertainty, the report underscores the importance of timely measures to prevent further strain on the F&B landscape.
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Singapore is considering the development of a new Meetings, Incentives, Conferences, and Exhibitions (MICE) hub in the Orchard area, according to a recent report. The Orchard HPL redevelopment site is a strong contender for this initiative, which is part of the Singapore Tourism Board’s (STB) strategy to increase MICE tourist receipts to 10% by 2040. This move is expected to attract more short-stay business travellers, who currently make up about 37% of the inbound market.

The potential transformation of the Orchard area could see older hotels, such as Orchard Hotel and Orchard Rendezvous Hotel, rejuvenated under the Strategic Development Incentive scheme. This initiative aims to revitalise the hospitality sector, which is poised to benefit from upcoming events like the Lady Gaga concert in May 2025, expected to stabilise hotel occupancy rates.

Singapore Real Estate Investment Trusts (S-REITs) are also showing promising returns, trading at forward yields of 6.7%. Notably, CapitaLand Ascott Trust (CLAS), CDL Hospitality Trusts (CDLHT), and Far East Hospitality Trust (FEHT) offer yields of approximately 7% or higher. The report highlights that historically, investors who bought at 0.8 times price-to-book ratios have seen positive returns within a year.

As macroeconomic uncertainties persist, investors are likely to adopt a conservative approach, favouring retail, industrial, and office sectors over hotels. However, the report suggests that value investors could find opportunities in Mapletree Pan Asia Commercial Trust (MPACT), FEHT, Sasseur REIT, and Frasers Logistics & Commercial Trust (FLT).

In summary, Singapore’s plans to develop a new MICE hub in Orchard could significantly boost the hospitality sector, whilst S-REITs continue to offer attractive investment opportunities amidst economic uncertainties.
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Hey Chips, a leading clean snack brand in Singapore, has launched Hey Fruit Bites, the country’s first clean-label fruit bites snack. This innovative product, made from freshly fermented yoghurt and real fruits, offers a healthier alternative to the ultra-processed snacks currently dominating the market. The founders, Emily and Hayden, were inspired to create Hey Fruit Bites after struggling to find genuinely clean snacks for their baby.

Hey Fruit Bites is crafted with 60% fresh yoghurt, fermented in-house, and 40% real fruit slices. The snack is freeze-dried at 30ºC to retain up to 97% of its nutrients, providing a crunchy texture with probiotics and superfood benefits. “In a market flooded with overly processed snacks, we saw a gap for something clean and enjoyable,” said Emily, one of the founders. The snack is designed to appeal to all ages, from babies to adults, and is perfect for various occasions, including office pantries, school bags, and outdoor adventures.

Available in four flavours—Strawberry, Mixed Berry, Mango Banana, and Mango Passion—Hey Fruit Bites can be purchased at Cold Storage, CS Fresh, and online platforms across Singapore. Founded in 2018, Hey Chips has gained recognition for its quality snacks, free from added sugar, chemicals, and artificial flavourings, earning seven UK Great Taste Awards. The founders, former architect Emily and engineer Hayden, are committed to changing the way food is manufactured, promoting clean eating and outdoor living.
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Mercedes-Benz Singapore has unveiled its latest line-up of electric commercial vehicles, the eCitan, eVito, and eSprinter, aimed at transforming urban logistics and commercial transport. These vehicles, launched on 16 April, are designed to meet the diverse needs of businesses with a focus on efficiency, technology, and safety.

Marcel Luis Mustelier Perez, President and CEO of Mercedes-Benz Singapore, highlighted the company’s commitment to electric mobility, stating, “Our newly expanded line-up of fully electric commercial vehicles demonstrates Mercedes-Benz’s commitment to accelerating electric mobility in Singapore.” The vehicles offer a comprehensive solution tailored to business needs, including vehicle customisation, advanced safety features, and robust aftersales support.

The new models promise a smooth driving experience with carbon-neutral emissions, making them suitable for everyday use in urban settings. The eCitan is priced at $144,988, the eVito at $163,988, and the eSprinter at $213,888, with prices subject to change based on prevailing COE.

These electric vehicles are expected to set new standards in the industry, providing businesses with reliable and sustainable transport options. As Mercedes-Benz continues to innovate, the introduction of these models marks a significant step towards a more sustainable future in commercial transport.
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The Singapore Fashion Council (SFC) and ASN Media have launched the second season of the acclaimed “Fashion Futures” series, set to premiere on 25 September 2025 during the SFC Be the Change Summit. This season aims to delve deeper into the evolving fashion industry, focusing on sustainability, innovation, and the future of fashion across Southeast Asia.

Building on the success of its inaugural season, the series will provide insights into sustainable consumption, technological advancements, and the changing retail environment. It will feature documentary-style content that offers access to industry leaders and emerging trends.

Key themes for Season Two include:

– **Materials & Textile Innovation**: Exploring advancements in sustainable materials and textile technologies.
– **Circular Economy & Sustainability**: Highlighting efforts to reduce waste and promote recycling within the industry.
– **Digitalisation**: Examining the impact of digital tools on retail experiences and industry efficiency.
– **Talent & Skills**: Showcasing initiatives to help the fashion workforce adapt to industry changes.

Ting-Ting Zhang, CEO of the Singapore Fashion Council, emphasised the importance of the series, stating, “Season Two of Fashion Futures represents a crucial step in our ongoing commitment to driving positive change in the fashion industry.” Jonathan Love, Director of ASN Media, added, “We are thrilled to bring back Fashion Futures for its second season, diving into the most pressing topics in the industry.”

The series aims to inspire the next generation of industry leaders and foster a more responsible fashion ecosystem in Southeast Asia.
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Singapore-based Antom and Adobe have announced a strategic partnership aimed at enhancing digital creativity through seamless payment access for Adobe’s customers across Asia. This collaboration will introduce an optimised payment experience and tailored digital marketing offerings, significantly expanding Adobe’s reach in the region.

The partnership will see Adobe integrating Antom’s unified payment solutions, allowing customers to select their preferred payment methods at checkout. Matt Wegner, Vice President of Global Payments at Adobe, expressed enthusiasm about the partnership, stating, “As our base of customers in Asia fast expands, we’re excited to announce our partnership with Antom to integrate localised payment options for our customers and unlock new growth opportunities.”

Initially, eight alternative payment options will be rolled out in key Asian markets, including AlipayHK in Hong Kong, DANA in Indonesia, and GCash in the Philippines. This move is expected to optimise transaction flows, increase conversion rates, and ensure secure and cost-effective payment settlements.

Gary Liu, General Manager of Antom, highlighted the synergy between the two companies, noting, “We aim to make Adobe’s advanced tools more accessible to a broader customer base in high-growth markets.”

Beyond payments, Adobe and Antom will explore AI-powered promotions through Antom’s A+ Rewards platform, enhancing user engagement and customer acquisition. This partnership is set to empower creative professionals, businesses, and educational institutions by providing greater flexibility and accessibility to Adobe’s products, tailored to the evolving needs of the Asian market.
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The Monetary Authority of Singapore (MAS) has once again eased its monetary policy in response to a dimming global growth outlook and a benign core inflation forecast. This decision coincides with the Ministry of Trade and Industry (MTI) revising Singapore’s GDP growth forecast for 2025 downwards to a range of 0% to 2%, a shift from the previous 1% to 3% estimate. The MAS anticipates core inflation to remain below 2%, with risks skewed towards the downside.

The decision by MAS reflects growing concerns over global trade headwinds, which are expected to impact Singapore’s export-driven sectors. The easing of monetary policy aims to support the economy amidst these challenges. “The risks to inflation are tilted towards the downside,” the MAS noted, highlighting the subdued inflationary pressures.

In contrast, China’s economic outlook appears more optimistic. According to a report by Maybank IBG Research, China’s exports surged by 12.4% in March, driven by supply chain diversification efforts. This rebound is expected to contribute to a 4.2% GDP growth in 2025. The diversification strategy has seen multinational corporations like Apple shifting production bases to countries such as India and ASEAN nations, including Thailand, Indonesia, and Vietnam, which have experienced significant increases in Chinese intermediate goods inflows.

The contrasting economic forecasts for Singapore and China underscore the varied impacts of global economic shifts on different regions. As Singapore grapples with external challenges, China’s strategic diversification efforts offer a path to sustained growth. The implications of these developments will likely influence regional economic strategies in the coming years.
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