Industry News

Singapore’s private residential property market saw a moderate increase in prices during the first quarter of 2025, according to the Urban Redevelopment Authority’s (URA) flash estimates. The All Residential Price Index rose by 0.6% quarter-on-quarter and 3.1% year-on-year, reflecting a stabilisation in several regions. Leonard Tay, Head of Research at Knight Frank Singapore, noted that this growth was more subdued compared to the previous quarter, as price benchmarks in the Rest of Central Region (RCR) and Outside Central Region (OCR) stabilised.

Homebuyer activity remained robust, particularly in areas with ample amenities or compelling growth stories like Tengah. This demand is supported by strong household balance sheets, low unemployment, and intergenerational wealth transfer. In the Core Central Region (CCR), prices increased by 0.6% quarter-on-quarter and 1.7% year-on-year, despite the 60% Additional Buyer’s Stamp Duty for foreigners. High-net-worth Singaporeans, permanent residents, and new citizens are the primary buyers in this segment.

The RCR experienced the highest price growth among the three regions, with a 1.0% quarter-on-quarter and 6.5% year-on-year increase, driven by the launch of The Orie in Toa Payoh. Meanwhile, the OCR saw a slight 0.3% quarter-on-quarter rise, with strong take-up rates at new launches like Lentor Central Residences and Parktown Residence.

Landed home prices also saw a marginal increase of 0.6% quarter-on-quarter, following previous declines. Overall, the market shows signs of stabilisation, with prices expected to grow moderately between 3% and 5% in 2025, supported by healthy household net worth and low unemployment.
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RHB has released its 10th annual thematic research note, identifying promising investment opportunities for 2025, dubbed “ESG Diamonds in the Rough.” The report, published on 28 March 2025, outlines 10 stocks selected based on criteria such as a return on equity (ROE) of 15% or higher, net debt to shareholder funds below 0.7x, expanding margins, valuations below industry averages, and ESG scores above country medians.

The report emphasises the potential for robust earnings growth in these stocks due to sector- or company-specific factors. Alexander Chia, Shekhar Jaiswal, and Andrey Wijaya, the analysts behind the report, have meticulously curated these picks to offer investors a strategic edge in the evolving market landscape.

Among the highlighted stocks, CapitaLand Ascendas REIT, CapitaLand Integrated Commercial Trust, and ComfortDelGro are noted for their diversified portfolios and strong growth prospects. The report also mentions DBS, Keppel REIT, and Singtel, each offering unique advantages such as high-quality assets, positive rental reversions, and improving return on invested capital (ROIC).

This research is significant as it provides investors with insights into stocks that not only meet stringent ESG criteria but also promise substantial financial returns. As the focus on sustainable investing continues to grow, RHB’s report offers a valuable resource for those looking to align their portfolios with ESG principles whilst capitalising on growth opportunities.

Looking ahead, these ESG-focused investments are poised to benefit from ongoing economic recovery and sector-specific catalysts, making them attractive options for forward-thinking investors.
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The Singapore Department of Statistics has reported a decline in the country’s price indices for February 2025.

The Monthly Import and Export Price Indices fell by 1.5% and 0.5% respectively compared to January 2025.

Additionally, the Singapore Manufactured Products and Domestic Supply Price Indices decreased by 0.5% and 0.7% respectively.

Excluding oil, the indices showed a similar downward trend with the Import, Export, Singapore Manufactured Products, and Domestic Supply Price indices dropping by 1.5%, 0.3%, 0.2%, and 0.3% respectively.
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Ant International, in collaboration with the National Volunteer and Philanthropy Centre (NVPC), has launched a new initiative to support the digital transformation of 60 non-profit organisations in Singapore.

Announced at the City of Good Summit 2025, this initiative is part of Ant International’s MSME-empowerment Programme Sirius, which focuses on equipping non-profits with vital business and digital skills to enhance their fundraising capabilities and ensure long-term sustainability.

The programme addresses a significant challenge faced by non-profits, as highlighted by the Centre for Asian Philanthropy and Society, which found that 59% of Asian non-profits struggle with digital skills. The training will cover areas such as e-commerce, online payments, marketing, and audience engagement, whilst also providing networking opportunities with the tech industry.

Building on a successful pilot that enhanced digital fundraising for 13 charities, the initiative aims to create a more sustainable giving ecosystem. Gemma Bryne from NVPC stated, “We are proud to scale this partnership to reach 60 charity partners, in celebration of SG60 this year.”

Carrie Suen of Ant International emphasised the importance of supporting non-profits, saying, “Non-profit organisations are the heart of local communities, and are often underserved like MSMEs.”

The initiative comprises three pillars: Domain Expertise, Capacity Building, and Community Building, all designed to empower non-profits in their digital journey. This collaboration reflects a commitment to fostering a more inclusive and compassionate society through digital innovation.
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Sodexo, a global leader in food services and facilities management, has taken a significant step towards sustainable dining by collaborating with Chef Claus Meyer, co-founder of Noma and a pioneer of the New Nordic Cuisine movement. As part of the Oma-Kaki initiative, ten senior chefs from Sodexo Malaysia and Singapore participated in an exclusive masterclass led by Meyer, focusing on sustainable, hyperlocal, and seasonal ingredients.

The masterclass, which is part of Sodexo’s ongoing efforts to innovate and enhance culinary skills, allowed chefs to gain insights into sustainable gastronomy and inventive culinary techniques. Abel Ariza, Managing Director of Sodexo Malaysia & Singapore, stated, “By partnering with world-class experts like Chef Meyer, we’re creating unparalleled development and learning opportunities for our teams.”

Following the training, the chefs showcased their newfound skills at a private dinner attended by ambassadors, senior business leaders, and clients. The menu, inspired by Meyer’s sustainability-driven philosophy, will be incorporated into Sodexo’s Oma-Kaki series, available to customers across Malaysia and Singapore.

Chef Meyer, in Singapore for the City of Good Summit, emphasised the role of chefs in shaping the future of dining: “Sustainability in food goes beyond the ingredients we use. It’s about rethinking the entire system.”

This collaboration aligns with the growing consumer demand for sustainable products in Asia. According to PwC’s “Voice of the Consumer Survey 2024,” 51% of Asia Pacific consumers are purchasing more sustainable products. Sodexo is committed to meeting these expectations by reducing food waste and increasing plant-based menu options.

Through initiatives like Oma-Kaki, Sodexo continues to invest in its culinary teams, ensuring they remain at the forefront of global trends whilst tailoring solutions to local markets.
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KPMG in Singapore has launched its “Be in Front” talent development model, designed to bolster the nation’s global competitiveness by enhancing workforce capabilities. Announced during the Ministry of Manpower’s Job Vacancies event, the initiative aligns with Singapore’s economic goals of job creation, skills enhancement, and global competitiveness.

The “Be in Front” model focuses on strengthening global talent to create a significant impact. It emphasises advanced expertise through futurist training and knowledge sharing, promoting innovation via collaboration, and offering opportunities for talent mobility. This approach aims to empower teams to lead in complex environments and deliver valuable solutions.

Lee Sze Yeng, Managing Partner of KPMG in Singapore, highlighted the importance of talent in maintaining Singapore’s status as a global hub. “In today’s geopolitical environment, and where technology and regulations evolve at varying speeds, talent needs to navigate considerable ambiguity. Our talent model equips professionals to interpret these ‘in-between’ spaces, identify opportunities and define new pathways for success,” Lee stated.

The model also contributes to Singapore’s global competitiveness by attracting international talent and providing local professionals with multi-disciplinary exposure. This exposure is crucial for driving innovation in areas such as digital transformation and sustainability.

KPMG’s initiative is expected to support Singapore’s strategic goals by bridging global and local needs, fostering job creation, and enhancing industry readiness. The firm’s commitment to developing talent and promoting innovation underscores its role in ensuring Singapore remains a leader on the global stage.
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The Singapore International Foundation (SIF) has significantly enhanced mental healthcare services in Cambodia by equipping over 150 mental health professionals in Phnom Penh with advanced skills and knowledge. This initiative, part of the Enhancing Mental Healthcare Services project, is expected to benefit more than 225,000 patients. Launched in 2022 in collaboration with the Khmer-Soviet Friendship Hospital (KSFH), the project aligns with Cambodia’s Mental Health Strategic Plan 2023 to 2032.

A notable achievement of the project is the development and pilot implementation of a Suicide Risk Assessment Framework and Guidelines at KSFH. This framework, created with the help of Singapore International Volunteers (SIVs), aims to improve early detection and intervention for at-risk individuals. The initiative also focused on obsessive-compulsive disorder (OCD) treatment, introducing the Yale-Brown Obsessive Compulsive Scale (Y-BOCS) to enhance diagnosis and management.

Participants in the project received specialised training, including visits to Singaporean healthcare institutions, to gain insights into evidence-based interventions. The project also produced videos to raise mental health awareness and combat stigma in Cambodia.

Prof Yim Sobotra of KSFH highlighted the collaboration’s impact, stating it has expanded their capacity to manage suicide risk and improve OCD treatment. Dr Jared Ng, SIV Team Lead, expressed hope that the project would foster more open conversations about mental health.

The SIF plans to launch a new initiative later this year to further improve health outcomes across Southeast Asia.
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Tesla has unveiled the New Model Y 110 in Singapore, expanding its electric vehicle (EV) offerings tailored for the Category A Certificate of Entitlement (CoE). This launch, announced on 28 March 2025, introduces a rear-wheel drive variant designed to enhance affordability and sustainability in the region.

The New Model Y 110 joins the Model 3 110, providing Singaporean drivers with two exclusive options that cater specifically to the local market. Priced from $197,978, including a $94,502 Category A CoE, the vehicle benefits from the EV Early Adoption Incentive and Vehicular Emission Schemes, offering rebates up to $40,000.

Tesla’s latest model boasts an updated exterior optimised for aerodynamics, accelerating from 0 to 100 km/h in 9.6 seconds and offering a range of up to 466 km on a single charge. This range is sufficient for 11 round trips between Toa Payoh Experience Centre and Jewel Changi Airport. Additionally, all new Tesla vehicles registered in Singapore come with a warranty covering the Malaysian peninsula, ensuring peace of mind for owners travelling across the border.

To further support EV adoption, Tesla Singapore has launched the Tesla Home Charging Programme, providing a complimentary Tesla Wall Connector and a two-year warranty for new owners. The company is also expanding its Supercharging Network, adding four new locations across Singapore’s East, West, and South regions.

Tesla enthusiasts can experience the New Model Y first-hand by visiting Tesla Experience Centres in Toa Payoh and Millenia Walk or scheduling a test drive through Tesla’s official channels.
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Signify, formerly known as Philips Lighting, has partnered with Toa Payoh East Community Club to enhance energy efficiency in Singapore by distributing over 2,000 energy-efficient Philips LED light bulbs to 770 low-income households in Toa Payoh East. The initiative, aimed at promoting sustainability and reducing energy consumption, commenced on 23 March and will continue on 12 April.

The distribution effort is spearheaded by Saktiandi Supaat, Adviser to Bishan-Toa Payoh GRC Grassroots Organisations, and Chandra Vaidyanathan, Managing Director of Signify Singapore and President of Consumer Commercial AMEA. A team of Signify employees is also involved, assisting with the collection and recycling of old light bulbs to minimise electronic waste.

Residents have responded positively to the initiative, appreciating the improved lighting in their homes. The project not only aims to brighten living spaces but also to contribute to a Green and Resilient Singapore by reducing energy consumption.

The initiative’s success underscores the importance of community collaboration in achieving environmental goals. As the project progresses, it is expected to further raise awareness about energy efficiency and sustainable living practices amongst residents.
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Kroll, a leading provider of global financial and risk advisory solutions, has announced the launch of its Fixed Asset Advisory Service (FAAS) in the Asia Pacific (APAC) region. This strategic move comes in response to the increasing investments and demand for asset valuations across the region. The service will be led by Masha Lewis, who joins Kroll as the Managing Director of APAC after a distinguished career at PwC Australia.

Masha Lewis, who previously established and grew PwC’s Tangible Asset Valuation and Advisory practice, expressed her enthusiasm about the new role. “I am excited to join Kroll’s world-leading FAAS team and to bring these valued services to the APAC market. The evolving economic landscape, plus increasing infrastructure investments in Australia and across the wider APAC region, underscore the importance of regular and accurate fixed asset valuations,” she stated.

Rebecca Fuller, Managing Director and Global Fixed Asset Advisory Service Leader, highlighted the growing need for reliable asset valuations in the APAC markets. “With increasing investor interest in APAC markets, there is a growing need for reliable asset valuations to support investment decisions. This trend is set to continue,” Fuller noted.

Kroll has been serving clients in the APAC region for over 40 years, with a team of more than 1,500 experts across 16 locations, including Sydney, Hong Kong, and Singapore. The expansion of FAAS is seen as a critical step in enhancing Kroll’s market-leading fixed asset valuation practice, providing businesses with essential tools for risk mitigation and informed investment decisions.
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