Industry News

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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SingWealth Holdings has officially launched PFPFA Malaysia Sdn Bhd, marking a significant step in its regional expansion strategy. The launch event, held at the Grand Hyatt Kuala Lumpur, was attended by key stakeholders, industry leaders, and regional partners. This move strengthens SingWealth’s commitment to providing integrated financial advisory solutions in Singapore, Malaysia, and Hong Kong.

The launch featured the signing of a Memorandum of Understanding (MOU) with Realion Group, the holding company of Edmund Tie & Company and OrangeTee & Tie. This partnership aims to combine SingWealth’s wealth management expertise with Realion’s real estate services, offering clients a comprehensive approach to wealth and asset management. Desmond Sim, Group CEO of Realion Group, highlighted the synergy between the two companies, stating, “This partnership brings together two key pillars of financial wellbeing—wealth and assets—offering a holistic and seamless service to clients.”

Jeffrey Chow, Executive Director and Group CEO of SingWealth Holdings, emphasised the significance of the expansion into Malaysia, stating, “Our expansion into Malaysia represents more than market growth—it reflects our continued commitment to delivering personalised, high-quality advisory services.” The establishment of PFPFA Malaysia positions the group to support local businesses, including those involved in the Johor-Singapore Special Economic Zone initiative.

SingWealth Holdings, with a presence in Singapore, Thailand, Malaysia, mainland China, and Hong Kong, continues to empower communities with financial stability and enhanced wellbeing through its subsidiaries. The company remains focused on delivering customised protection and wealth solutions, reinforcing its vision for long-term regional growth.
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China Construction South Pacific Development Co Pte Ltd (CCDC) recently hosted the Conference for Sustainable Development in the Construction Industry in Singapore, marking a significant step in its commitment to sustainable practices. The event, held on 16 July, gathered over 100 participants, including government officials and corporate executives, to discuss green and low-carbon transformation in construction.

CCDC has been a leader in sustainable development in Singapore since 1992, employing technologies such as Prefabricated Prefinished Volumetric Construction (PPVC) and Building Information Modelling (BIM). The company’s DfMA Centre, equipped with photovoltaic panels, contributes to an annual carbon emission reduction of 800 tonnes. CCDC’s efforts are in line with the Singapore Green Plan 2030, aiming for a sustainable future.

With the highest A1 qualification and a Green and Gracious Builder Scheme Star qualification, CCDC has completed 196 projects, with 41 more underway. These projects span residential, educational, commercial, and healthcare sectors, among others. Notably, one in every 20 homes in Singapore is built by CCDC.

At the conference, CCDC released its report, “Innovation Journey in Embracing Sustainable Construction,” highlighting its three decades of green building practices. Chairman Qian Liangzhong stressed the need for policy support, technological innovation, and collaboration in achieving green transformation. This aligns with National Development Minister Chee Hong Tat’s recent announcement of the Built Environment Decarbonisation Technology Roadmap, which identifies over 50 technologies to reduce carbon emissions in buildings.
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The Urban Redevelopment Authority’s (URA) Q2 2025 statistics reveal a 0.3% quarter-on-quarter decline in the office rental index for Singapore’s Central Region, following a similar growth in the previous quarter. This decrease is attributed to lower rents at new projects aimed at attracting tenants. The occupied office space increased by 9,000 square metres in Q2 2025, a notable recovery from the 1,000 square metre decline in Q1 2025, driven by the uptake of smaller spaces in newly completed projects.

Colliers’ research indicates that Grade A office rents remained resilient, with some premium buildings achieving higher rents despite global economic uncertainties. Tenants are favouring renewals over relocations or expansions, although some are moving to quality spaces to attract and retain employees whilst optimising efficiency and value per square footage. Landlords are responding by offering smaller spaces and various incentives to meet rental expectations, successfully driving occupancy in developments like IOI Central Boulevard, which is nearing full occupancy.

The demand for quality office space remains healthy, with rapid backfilling of vacated spaces, particularly those with quality fit-outs. With new supply not expected until 2027, vacancy rates in this segment are predicted to tighten further. The extension of the Central Business District Incentive (CBDI) and Strategic Development Incentive (SDI) schemes could lead to more office supply being redeveloped into mixed-use projects.

For the rest of 2025, office demand is expected to remain diverse across industries, with movements driven by changes in corporate operational requirements. Businesses may delay leasing decisions amid global monetary and trade policy uncertainties. Occupiers and landlords are likely to adopt a conservative approach, with landlords being more selective in tenant selection to maintain stable long-term occupancy. Despite these challenges, high office attendance and limited new supply are expected to support rental growth in Grade A offices.
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Income Insurance Limited and the National Council of Social Service (NCSS) have announced the launch of the Income OrangeAid Caregiver Support Accelerator Grant, a $10 million initiative designed to bolster the capabilities of Social Service Agencies (SSAs) in Singapore. This programme, set to run from 2025 to 2030, aims to address the mental well-being and retirement adequacy of caregivers, who, according to the NCSS’ 2024 Quality of Life Study, experience a lower quality of life compared to non-caregivers.

The grant will support up to 20 caregiver programmes, with each receiving up to $200,000 in the first two years and $100,000 in the third year. This funding is intended to help SSAs develop sustainable support systems for caregivers, ensuring they can maintain their well-being whilst caring for loved ones. Andrew Yeo, CEO of Income Insurance, emphasised the importance of this initiative, stating, “Caregivers are essential to the well-being of families, and we believe that when caregivers are better supported over time, it will have a multiplier effect in improving their families’ overall resilience too.”

The grant is part of Income Insurance’s broader commitment to invest $100 million in Singapore communities by 2030. It also aligns with the national call for stronger partnerships between the public, private, and people sectors to strengthen Singapore’s social compact. The first grant call will open in September 2025, with the second in 2027, and SSAs are encouraged to apply early to secure funding.
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Great Eastern has unveiled two pioneering insurance solutions designed to support Singaporeans through various life stages, from caregiving responsibilities to long-term wealth accumulation. The launch aims to alleviate financial pressures faced by the sandwich generation and offer capital-guaranteed investment options in today’s moderate return environment.

The first offering, GREAT Life Multiplier, is a whole-life plan providing affordable, multi-generational coverage. It includes a Parent Care Rider, offering late-stage critical illness protection for elderly parents without requiring medical assessments. This plan is particularly beneficial for young families and those balancing care for both children and ageing parents. “We recognised that the market lacked a single affordable solution that could address the pain points of young professionals and mid-career adults,” said Greg Hingston, Group CEO of Great Eastern.

The second solution, GREAT Index Income, is a capital-guaranteed endowment plan linked to the UBS Multi Asset Angle SGD Index. With a minimum investment of $36,500 (S$50,000), it caters to those seeking steady growth and flexibility. The plan offers annual payouts that can be withdrawn or reinvested, and includes death and accidental death coverage without the need for medical underwriting.

These offerings highlight Great Eastern’s commitment to innovation and addressing the real-life challenges of Singaporeans. By providing tailored solutions, the company aims to help individuals build wealth with confidence and security, even in a moderate return environment.
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Private home prices in Singapore increased by 1% in the second quarter of 2025, according to the Urban Redevelopment Authority (URA) property price index. This marks a quicker pace compared to the 0.8% rise in the first quarter.

The growth was primarily driven by higher price gains in the landed segment and the Core Central Region (CCR), where non-landed homes saw a 3% quarter-on-quarter increase, according to Christine Sun, Chief Researcher & Strategist, Realion Group. Notably, several units were sold at prices exceeding S$4,000 per square foot, with transactions including projects like Sculptura Ardmore and Skywaters Residences.

However, the overall sales volume of private homes, excluding executive condominiums, fell by 29.4% from 7,261 units in Q1 2025 to 5,128 units in Q2 2025. This represents the lowest sales volume since Q2 2024. New sale volumes experienced a sharp decline of 64.1%, whilst resale volumes saw a modest rebound of 2.3%. The primary market’s subdued performance was attributed to developers holding back launches during the June school holidays.

Rental prices also saw a slight uptick, with the URA rental index indicating a 0.8% rise in Q2 2025. This marks the fifth consecutive quarter of stabilised rental price changes within a -1% to 1% range. Despite macroeconomic uncertainties, including global trade wars, lower interest rates are expected to support rental market recovery.

Looking ahead, several new projects are anticipated to launch in the latter half of the year, potentially boosting sales transactions. Realion Group forecasts a 3% to 5% increase in prices for the whole of 2025, with 21,000 to 24,000 private homes expected to be transacted. The continued decline in interest rates is likely to enhance affordability, particularly for first-time buyers and investors. However, geopolitical uncertainties may lead to more cautious spending and investment decisions.
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