Industry News

KORIO, in collaboration with Zouk Group, has launched its second outlet in Singapore, located at Guoco Midtown II in Bugis. Officially opening on 11 July 2025, the new venue introduces a New York-inspired dine-in concept, featuring exclusive menu items such as a Brisket Sandwich with slow-cooked grass-fed beef and a reimagined BLT Sandwich with crispy bacon and jalapeño ranch.

Since its inception in Telok Ayer in 2020, KORIO has become a staple in Singapore’s sandwich scene, known for its bold flavours and quality ingredients. The new Bugis outlet continues this tradition, offering a warm and inviting space with sleek stainless-steel counters and a retro New York vibe. Co-founders Myron and Shaz Tan expressed their excitement, stating, “This new space is a true labour of love, reflecting how the brand has grown and evolved over the years.”

Andrew Li, CEO of Zouk Group, added, “We’re thrilled to open KORIO’s second outlet to all diners in Singapore. It’s a concept that truly resonates with diners who appreciate bold, comforting flavours.”

The menu at the new outlet includes both exclusive items and crowd favourites, such as the Grilled Cheese and Sausage & Egg sandwiches. Additionally, KORIO’s signature brioche doughnuts, perfected over 50 iterations, are available with a rotating selection of house-made glazes.

Located at 20 Tan Quee Lan Street, the outlet is open daily from 8am to 5pm, offering both dine-in and takeaway options. Situated next to The Plump Frenchman, Zouk Group’s first French restaurant, the new KORIO outlet enhances the dynamic food and beverage scene in Bugis.
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Frasers Property Singapore is set to transform its malls into vibrant hubs of activity from July to September, as it celebrates Singapore’s 60th birthday with a series of community-focused events. The festivities will include cultural showcases, interactive workshops, and exclusive promotions, aiming to connect communities across the island.

At Tiong Bahru Plaza, visitors can enjoy a Smurfs-themed display, complete with interactive elements for family fun. Meanwhile, The Centrepoint will host a colourful celebration from 1 to 31 August, featuring a large-format colouring mural and workshops in collaboration with STABILO and BUSY MAT. Shoppers can also view intricate artwork by local artist Wilfred Cheah, crafted from recycled materials.

Eastpoint Mall and White Sands will offer a range of promotions and performances from 8 August to 14 September. Shoppers spending S$50 ($___) at participating outlets can enter a lucky draw for prizes, including a staycation at Capri by Fraser, China Square. Additionally, exclusive 60-cent deals will be available at selected food and beverage outlets.

Northpoint City will celebrate its pineapple-growing heritage with the Ong Lye Rush campaign, offering shoppers the chance to win grand prizes such as an OSIM uLove 3 Well-being Chair. The Durian Fiesta at Eastpoint Mall offers a treat for durian lovers, whilst Hougang Mall will host the Teochew Festival, showcasing the rich heritage of Teochew culture.

These events reflect Frasers Property Singapore’s commitment to fostering community spirit and celebrating local culture. For more information on the full line-up of events, visit the Frasers Experience website.
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Armstrong Industrial Corporation, known as Armstrong Asia, has implemented Zebra Technologies’ solutions to enhance its warehouse and shopfloor operations in Malaysia and Thailand. The integration aims to improve data accuracy and operational efficiency by replacing manual processes with advanced technology.

Founded in Singapore, Armstrong Asia is a leading manufacturer of flexible material solutions, operating 16 factories across seven countries. The company has adopted Zebra’s ET40 enterprise tablets, MC33 mobile computers, ZT411 industrial printers, and Zebra OneCare support to upgrade its ERP system. This move is expected to optimise production tracking and warehouse operations, as highlighted by Eugene Ong, Executive Director of Armstrong Asia, who stated, “These solutions enable real-time data collection, improve asset visibility, and enhance connected frontline productivity.”

The project was executed in collaboration with RGtech Simat Co., Ltd in Thailand and Grand-Flo Spritvest Sdn Bhd and Phitomas Sdn Bhd in Malaysia, ensuring a seamless transition. Christanto Suryadarma, Sales Vice President at Zebra Technologies, expressed enthusiasm about the partnership, noting, “We are excited to support the team’s delivery of operational excellence and explore further innovations like machine vision for future development.”

The collaboration underscores Zebra Technologies’ commitment to providing solutions that enhance efficiency and accuracy in industrial environments, further solidifying Armstrong Asia’s position as a leader in the industry. The integration of these technologies is expected to significantly boost productivity and streamline operations across Armstrong’s facilities in the region.
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Giti Tyre has been recognised as a ‘3 Heart Company of Good’ at the 2025 Company of Good Conference, held on 17 July at the Fairmont Singapore. This accolade, awarded by the Singapore National Volunteer and Philanthropy Centre, acknowledges organisations that demonstrate a strong corporate purpose across five impact areas: people, society, governance, environment, and economy. Giti Tyre was one of 79 companies to receive this honour, highlighting its commitment to sustainability and social responsibility.

The Company of Good initiative encourages businesses to integrate corporate purpose into their operations, moving beyond traditional corporate giving. Giti Tyre’s recognition reflects its comprehensive approach to sustainability, which includes biodiversity projects, reforestation, and supporting underprivileged communities. The company also champions diversity, employing staff from over 20 nationalities and investing in workforce upskilling.

Chief Sustainability Officer, Pang Chong Hau, expressed pride in the recognition, stating, “We continue to look internally and externally, identifying areas of improvement and need that we can work on to address the needs of corporation, people, and planet.” Giti Tyre aims to achieve ISCC certification by 2026 and plans to reduce carbon consumption per tyre whilst increasing carbon sequestration through reforestation.

Founded in 1993 and headquartered in Singapore, Giti Tyre is a global leader in the tyre industry, with operations in over 130 countries. The company collaborates with the Singapore Road Safety Council to promote road safety and is committed to maintaining high-quality control standards across its manufacturing plants.
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AIMS APAC REIT has seen a boost in confidence as its sponsor increased its stake, according to a recent update. This move is seen as a positive indicator of the REIT’s long-term prospects, particularly in the industrial sectors of Singapore and Australia. The REIT is well-positioned to capitalise on strategic asset enhancements and robust operational execution, with a target price now set at S$1.52, up from S$.48, offering a 9% upside.

The REIT’s modest gearing allows for potential inorganic growth, whilst declining domestic benchmark rates and recent policy changes aimed at enhancing local market liquidity provide additional support. Analyst Vijay Natarajan highlighted these factors, noting that AIMS APAC REIT remains a top mid-cap pick.

The REIT’s focus on strategic asset enhancements and solid operational execution is expected to drive its growth. The sponsor’s increased stake is a testament to the confidence in the REIT’s ability to navigate and thrive in the evolving market landscape. With a forecasted yield of approximately 7% for the financial year ending March 2026, AIMS APAC REIT is poised to benefit from the growth in the industrial sectors of both Singapore and Australia.

In conclusion, the sponsor’s increased stake in AIMS APAC REIT underscores a strong belief in the REIT’s growth potential, supported by favourable market conditions and strategic initiatives. This development is likely to enhance investor confidence and drive future growth.
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Agentic AI is set to revolutionise industries, potentially generating $450 billion in economic value by 2028, according to a report by the Capgemini Research Institute. However, the report highlights a significant gap between ambition and readiness, with only 2% of organisations having fully scaled AI deployment. Trust in AI agents is declining, with confidence in fully autonomous AI agents dropping from 43% to 27% over the past year due to privacy and ethical concerns.

In Singapore, 15% of organisations are piloting AI agents, yet 51% lack a strategy for implementation. Operations and customer services are the primary areas where AI agents are expected to manage processes. Despite the potential, only 7% of Singaporean organisations fully trust AI agents, a figure that has decreased since 2024. Safety and transparency are the top concerns, with 64% and 62% of organisations respectively citing these as risks.

The report emphasises the importance of human-AI collaboration, with 90% of executives viewing human involvement in AI workflows as beneficial. Franck Greverie, Capgemini’s Chief Portfolio & Technology Officer, stated, “The economic potential of AI agents is significant but realising this value depends on more than just the technology, it requires a comprehensive and strategic transformation across people, processes, and systems.”

As organisations strive to harness AI’s potential, the focus remains on building trust and integrating ethical AI principles. With only 7% of Singaporean organisations having fully integrated these principles, the report suggests a need for strategic transformation to support effective human-AI collaboration.
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Centurion Corporation has launched Epiisod, a new brand aimed at the upscale student accommodation market, with its first development, Epiisod Macquarie Park, located near Macquarie University in Sydney. The purpose-built student accommodation (PBSA) offers 732 furnished rooms with high-end amenities, including an infinity pool, gym, and wellness facilities, catering to the growing demand for premium student living experiences.

The introduction of Epiisod is part of Centurion’s strategy to tap into the increasing affluence and rising numbers of international students in Australia. According to Ray White, international student enrolments in Australia reached a record high in 2024, with over 1.09m students, marking a 15% increase from pre-pandemic levels in 2019.

Centurion plans to spin off its student accommodation assets into a real estate investment trust (REIT), Centurion Student Accommodation REIT (CAREIT), which is expected to unlock a value of $1.02b (S$1.4b). The REIT will initially include five purpose-built workers’ accommodations in Singapore, eight PBSAs in the UK, and one in Australia. Epiisod Macquarie Park is set to join CAREIT’s portfolio upon its completion in December 2025, bringing the total portfolio valuation to $1.46b (S$2b).

The shift towards premium student accommodation reflects a broader trend in the PBSA sector, where students increasingly seek comfort and community-oriented living. Centurion’s Epiisod brand aims to meet this demand with its focus on wellness and lifestyle experiences.

Centurion’s stock target price has been raised to $1.49 (S$2.05), reflecting the company’s strong earnings profile driven by recurring rental income and long-term asset appreciation. The successful listing of CAREIT and new operational developments are anticipated to be key catalysts for future growth.

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The Monetary Authority of Singapore (MAS) has announced a significant move to bolster the local stock market by appointing three asset managers and injecting S$1.1b into Singapore equities. This initiative, part of the S$5b Equity Market Development Programme (EMDP), aims to enhance market liquidity and support the growth of Singapore’s financial sector. The appointed asset managers are Avanda Investment Management, Fullerton Fund Management, and JP Morgan Asset Management.

In addition to the liquidity injection, MAS is setting aside S$50m to strengthen the equity research ecosystem and listing support. This funding will enhance the Grant for Equity Market Singapore (GEMS) scheme, which is extended until 31 December 2028. The scheme aims to boost investor awareness and trading interest, particularly in small and mid-cap companies, by providing additional funding for research reports.

MAS is also focusing on strengthening investor protection to bolster market confidence. The authority has identified key areas such as enabling legal action, facilitating self-organisation, and providing access to funding. A consultation on these proposals is expected later this year.

The announcement highlights the strategic importance of the EMDP in enhancing Singapore’s financial market infrastructure. The next phase of asset manager appointments is anticipated by the fourth quarter of 2025. This initiative is expected to create a virtuous cycle of growth and investment in the Singaporean stock market, benefiting both investors and companies alike.
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Savills Singapore has announced the launch of The Broadley, a new boutique development located in Marylebone, London. This project, a collaboration between Mount Anvil and Westminster City Council, aims to revitalise the area through a private-public partnership. The development offers a limited collection of high-specification flats, providing investors with a unique opportunity to own property in a prime central London location.

Situated on a quiet residential street, The Broadley is conveniently close to Marylebone, Baker Street, and Paddington stations, offering excellent access to London’s transport network. The development is a mere six minutes from Bond Street and the Elizabeth Line, with easy connections to King’s Cross and Heathrow. Its Zone 1 location places it near top schools, medical institutions, and iconic green spaces such as Regent’s Park and Hyde Park.

The Broadley features 215 studio, one-, two-, and three-bedroom flats, each with private balconies or terraces. Residents will enjoy premium interiors, a lounge, a gym powered by Peloton, a screening room, and a 24-hour concierge service. The development is surrounded by Michelin-starred restaurants, luxury boutiques, and cultural institutions, making it an attractive option for both investors and owner-occupiers.

Ruben Koh, Senior Director and Head of International Residential Sales at Savills Singapore, stated, “The Church Street regeneration will bring about a major transformation and The Broadley will be the first to benefit from it.” He highlighted the development’s blend of heritage, lifestyle, and strong rental fundamentals as key attractions for Singapore investors.

The launch event for The Broadley will take place on 26 and 27 July 2025 at voco Orchard Singapore.
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Singtel has announced a strategic focus on expanding its data centre operations, with a projected 13% upside in its share price target, now set at S$4.70. The company’s management anticipates that the earnings before interest, taxes, depreciation, and amortisation (EBITDA) from its data centre business will double by the financial year 2028, driven by increased demand from artificial intelligence cloud services.

The expansion of Singtel’s data centres is seen as a significant growth opportunity for its Digital Infraco business. The company has already secured a substantial pre-sold capacity, which positions it well for future growth. This development is part of Singtel’s broader strategy to enhance its return on invested capital (ROIC), improve capital management, and execute earnings effectively.

Singtel remains a top pick in the sector due to these strategic initiatives. The company’s focus on data centres aligns with the growing demand for digital infrastructure, particularly as businesses increasingly rely on cloud-based solutions. The anticipated growth in EBITDA underscores the potential for long-term profitability and shareholder value.

As Singtel continues to invest in its data centre capabilities, the company is poised to capitalise on the rising demand for digital services. This strategic move not only strengthens Singtel’s market position but also enhances its appeal to investors seeking growth in the digital infrastructure sector. The company’s commitment to improving its financial metrics and operational efficiency further supports its positive investment outlook.
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