Industry News

Singapore’s manufacturing sector experienced a notable upswing in April 2025, with output increasing by 5.3% on a seasonally adjusted month-on-month basis.

“`

Popeyes Singapore is set to delight breakfast enthusiasts with the launch of its inaugural breakfast menu, available from 28 May 2025 across all 19 outlets. The “Breakfast Symphony” menu combines bold Louisiana flavours with local favourites, marking a significant expansion for the brand in Asia. This new offering aims to create memorable morning experiences for diverse tastes and lifestyles, according to Jedrick Tan, CEO of Popeyes Singapore.

The menu features signature items like the Poppy Cajun Stack, which includes brioche buns, Popeyes Special Sauce, smoky turkey bacon, herb-infused sausage, Cajun-spiced hashbrown, a freshly cracked egg, and melted cheese, starting at $8.90. Another highlight is the Chicken & Waffles Platter, offering golden waffles with a choice of chicken thigh or sausage, turkey bacon, and eggs, priced from $9.90.

Additional options include customisable breakfast platters, muffins, Poppy Junior Pancakes, and a unique Chicken Porridge with Buttermilk Chicken Tenders and You Tiao, starting at $2.90. To celebrate the launch, Popeyes will offer exclusive deals from 28 May to 24 June 2025, including vouchers for Café Americano and Cajun Hashbrown, with savings of up to 54%.

The breakfast menu is available from 4am to 11am at 24-hour outlets and from 7:30am to 11am at selected locations. This launch is part of Popeyes’ evolution into an all-day dining destination, following its partnership with Restaurant Brands International in 2022. The brand is also expanding with a new outlet opening soon at KINEX.
“`

Stellar Lifestyle, the business arm of SMRT, has teamed up with Japan’s JR East Group to launch Stellarate 3.0, a tech accelerator programme aimed at transforming retail and advertising within train stations. The initiative, in collaboration with Singapore Management University, seeks innovative solutions that enhance commuter experiences and operational productivity. The programme offers over $95,000 (S$130,000) in grants, with winners gaining access to the Japanese market through JRE Ventures and support from UOB for business growth.

The accelerator is designed to foster tech-enabled ideas that reimagine advertising, retail, and food and beverage (F&B) concepts in transit environments. Tony Heng, President of Stellar Lifestyle, highlighted the programme’s role in “unlocking new value across the retail and media ecosystems” and supporting small and medium enterprises (SMEs) through open innovation.

Participants will benefit from waived fees for financing support from UOB, networking opportunities, and digital transformation advice. Additionally, the partnership with Singapore Management University’s Institute of Innovation and Entrepreneurship provides successful start-ups with incubation space and mentorship.

Since its inception, Stellarate has attracted over 150 start-up ideas, demonstrating the potential of early innovation. UNISTOP, a previous winner, has expanded its vending machine operations and is eyeing international markets.

Applications for Stellarate 3.0 are open until 30 June 2025, with a $80 (S$109) submission fee refundable to winners. The programme seeks solutions that leverage real-time data and technology to drive sales and enhance operational efficiency in the transit network.
“`

Deutsche Bank has announced a collaboration with Singaporean AI start-up finaXai to explore advancements in tokenised funds servicing. This partnership will extend Deutsche Bank’s Project DAMA 2, a multi-chain asset servicing pilot, by integrating Machine Learning and Large Language Models (LLMs) to improve the efficiency and transparency of asset management processes.

The collaboration seeks to leverage explainable AI, enabling asset managers to execute fund lifecycle activities with increased speed and precision. FinaXai, co-founded by researchers from Nanyang Technological University (NTU) and the National University of Singapore (NUS), is part of the Fincubator programme at the Asian Institute of Digital Finance (AIDF).

Anand Rengarajan, Deutsche Bank’s Head of Securities Services APAC & MEA, expressed enthusiasm for the project, stating, “We are delighted to work with a diverse mix of experts from the academic and innovation worlds to contribute to the future of tokenised assets.” He emphasised the collaboration’s potential to unify research-backed solutions with industry applications.

Dr. Erik Cambria, Co-Founder of finaXai, highlighted the initiative’s role in bridging academic research with real-world applications, aiming to streamline processes and enhance digital asset management. Dr. Gianmarco Mengaldo, another Co-Founder, noted the collaboration’s potential to address complex financial tasks through AI-driven solutions.

This partnership underscores the growing intersection of AI and finance, promising to transform the landscape of asset servicing. As the project progresses, it may set new standards for efficiency and transparency in the management of tokenised funds.
“`

Private residential sales prices in Singapore are projected to rise by up to 7% in 2025, according to Savills Research. This forecast remains contingent on the absence of market disruptions or government interventions. The first quarter of 2025 saw a 0.8% quarter-on-quarter increase in prices, following a significant 2.3% rise in the last quarter of 2024. Savills anticipates that prices will continue to climb as new projects set higher benchmarks.

Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, noted that ongoing tariff wars are causing economic uncertainty, prompting homebuyers to adopt a cautious approach. Despite a slowdown in new sales since April, prices have remained resilient due to the wealth of baby boomers and rising Housing Development Board (HDB) resale prices, which support demand from upgraders.

In Q1 2025, non-landed residential sales among Singapore permanent residents increased by 2.1% quarter-on-quarter, marking the second consecutive quarter of growth. However, sales to Singaporeans and foreigners declined by 2.6% and 17.6%, respectively. The proportion of non-landed sales by permanent residents rose to 13.9%, whilst sales by foreigners fell to 1%, the lowest since records began.

George Tan, Managing Director of Livethere Residential at Savills Singapore, commented on the market’s cautious optimism, particularly in well-located and suburban areas. He highlighted the stable and sustainable growth of the private residential market, supported by calibrated land supply and resilient fundamentals.

As the year progresses, the market will be closely watched for any changes in economic conditions or policy interventions that could impact these projections.
“`

RealVantage, a leading real estate investment platform, has announced its first venture into South Korea with a $55m investment in the Anpyeong Logistics Centre, in collaboration with ESR Kendall Square. This marks RealVantage’s largest investment to date, with the project set to be completed by Q4 2026. Located in Icheon, a key logistics hub 40 km from Seoul, the development aims to meet the growing demand for last-mile logistics infrastructure driven by South Korea’s booming e-commerce sector.

The Anpyeong Logistics Centre will feature a five-storey Class A warehouse with 36,600 square metres of net leasable space, designed to attract e-commerce tenants, high-tech manufacturers, and third-party logistics providers. The facility’s strategic location offers efficient distribution access to major population centres, including Seoul, Bundang, and Seongnam. RealVantage CEO Keith Ong highlighted the significance of this exclusive deal, stating, “This deal is exclusively available to RealVantage and its private wealth investors, as a result of our deep ties with ESR group.”

ESR Kendall Square, the local arm of Asia-Pacific’s largest real asset manager, ESR group, boasts a strong track record in logistics development and asset management. With $150b in assets under management, ESR Kendall Square has developed 25 assets since 2015, maintaining an average net internal rate of return exceeding 30%.

RealVantage’s entry into South Korea underscores its commitment to providing institutional-grade real estate investment opportunities to private wealth investors. The platform collaborates with reputable partners globally, including Greystar Real Estate Partners in the USA and AsheMorgan in Australia. As RealVantage continues to expand its international portfolio, the Anpyeong Logistics Centre is poised to benefit from South Korea’s robust logistics demand, driven by e-commerce growth.
“`

EDG, a global hospitality design and branding studio, has announced the appointment of Erin Juhl as the new design director for its Singapore office. Juhl, who has an extensive background in translating brand stories into impactful environments, will lead the team in delivering luxury and lifestyle hospitality designs. Her appointment comes as EDG Singapore continues its growth trajectory, preparing for a dynamic year of high-profile projects.

Juhl’s expertise lies in creating environments that leave lasting impressions, from bold visual statements to nuanced details that enhance the guest experience. “I’m a storyteller,” Juhl stated. “Each project has its own narrative. My role is to shape that story through the built environment using design to connect with the guest emotionally whilst simultaneously making design choices that set the stage to deliver flawless service with ease.”

Originally from the US, Juhl has spent much of her career in Asia, working with prestigious hospitality brands such as Mandarin Oriental Hotel Group and Shangri-La. Her leadership and industry connections are expected to significantly benefit EDG Singapore, according to Rob Shen, Managing Director of EDG Singapore.

The Singapore office is set to unveil several projects in the latter half of 2025, including Chatterbox Café at MGM Macau and JW Marriott Surat. EDG’s commitment to narrative-driven design is further exemplified by its recent accolades, including the 2024 Gold Key Award for the Four Seasons Resort Cabo San Lucas.

Juhl’s appointment is anticipated to bolster EDG’s reputation for creating unique guest experiences that connect people to place through design.
“`

RightShip, a leader in maritime safety and environmental sustainability, is actively seeking a new minority investor to bolster its growth in artificial intelligence (AI) and data technology. The company, which aims to achieve “Zero Harm” in the global maritime value chain, is looking for a partner who shares its mission and values, alongside existing shareholders BHP, Cargill, and Rio Tinto.

The move comes as the demand for safety in the global supply chain intensifies, and the development of data and technology accelerates. RightShip’s CEO stated that the company is committed to delivering long-term value to its stakeholders and is keen on finding an investor who can provide not only capital but also significant expertise in data and technology. “Together we will innovate our product offerings, supercharge our data technology and AI capabilities, and deliver delightful customer experiences,” the CEO said.

To facilitate this strategic initiative, RightShip has engaged Rothschild & Co as its financial adviser. The company emphasised its dedication to transparency and integrity throughout the process, assuring stakeholders that any decisions will be made in their best interests. RightShip, established in 2001, serves over 850 customers globally, offering due diligence, environmental, and inspection services to improve maritime safety standards.

As RightShip navigates this new phase, it remains committed to keeping its stakeholders informed and ensuring that its growth aligns with its core mission of enhancing safety and sustainability in the maritime industry.
“`

GoodCool Pte Ltd, a Singapore-based airconditioning contractor, has announced a new community engagement initiative as part of its corporate social responsibility (CSR) efforts. Marking its second anniversary, the company will provide volunteer-based airconditioning services to selected households across Singapore. This initiative aims to leverage the technical skills of GoodCool’s technicians to support households identified for additional assistance.

The programme is designed to encourage employee participation in community-related activities, offering structured opportunities for GoodCool staff to volunteer their time and expertise. By integrating non-commercial service delivery into its CSR approach, GoodCool seeks to enhance employee morale and professional engagement whilst simultaneously improving home conditions and access to essential services for the community.

GoodCool anticipates that this initiative will foster stronger community ties and provide mutual benefits for both the organisation and the households involved. The company plans to share further details about the programme through its official website and communication channels.

With over 15 years of experience, GoodCool Pte Ltd specialises in airconditioning services, including general servicing, chemical cleaning, repairs, and installations for both residential and commercial systems. The company is committed to delivering reliable maintenance solutions at transparent prices, servicing all major aircon brands.
“`

SGX-listed The Hour Glass Group has announced its financial results for the fiscal year ending 31 March 2025, reporting a revenue increase to $1.16b, a 3% rise from the previous year. The luxury watch retailer also posted a profit after taxation of $136.1m, reflecting a 14% decrease compared to the previous year. The company has successfully reduced its bank borrowings from $83.9m to $54.8m, strengthening its financial position.

The results, released today, highlight the company’s strategic focus on financial stability and operational efficiency. Despite the challenges posed by fluctuating market conditions, The Hour Glass Group managed to maintain a robust cash and bank balance of $178.7m.

The reduction in bank borrowings is a significant achievement for the company, indicating a strong cash flow management strategy. This financial prudence is expected to provide The Hour Glass with greater flexibility in navigating future market uncertainties.

The company’s comprehensive financial statements, including detailed income and cash flow analyses, have been made available on the Singapore Exchange (SGX) website. These documents provide further insights into the company’s performance and strategic direction.

Looking ahead, The Hour Glass Group remains committed to enhancing its market presence and operational capabilities. The reduction in borrowings and healthy cash reserves position the company well for future growth opportunities and potential market expansions.

“`