Industry News

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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Lum Chang Creations (LCC), a leading urban revitalisation specialist in Singapore, is set to experience significant earnings growth, with projections indicating a 144% increase by the financial year 2025. This growth is attributed to the rising demand for conservation and interior fit-out works, spurred by the government’s commitment to preserving local heritage. LCC has initiated coverage with a “buy” recommendation and a target price of S$0.39, based on a 9.5x FY26 forecasted price-to-earnings ratio.

Founded in 2018, LCC has established itself as a dominant player in the niche market of urban revitalisation, holding an estimated 15.7% market share. The company has successfully completed high-profile projects, including the St James Power Station and the National Museum of Singapore. With a robust orderbook of S$123m as of 31 May 2025, LCC is poised for continued success.

The company’s impressive two-year revenue and earnings compound annual growth rates of 106% and 206%, respectively, from FY22 to FY24, underscore its strong performance. Key growth drivers include government incentives for heritage conservation, an increase in adaptive reuse of heritage buildings, and a thriving construction industry. The urban revitalisation sector is expected to grow at a 6.8% compound annual growth rate from S$380m to S$550m by 2027.

LCC’s business model boasts high margins and return on equity, with net margins around 10% and ROE above 30% over the past two years. The company maintains a strong cash position, with net cash of S$29m anticipated by July 2025. This financial strength supports its attractive dividend yield of 4.9% for FY26, making it a compelling investment opportunity.
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UniFuels Holdings Limited, a global marine fuel solutions provider based in Singapore, has successfully completed its first commercial paper issuance, raising $3m through the ADDX platform. The issuance was oversubscribed, indicating robust demand from accredited investors. The commercial paper, structured as short-term unsecured debt, was issued via ADDX’s digital investment platform, allowing UniFuels to diversify its funding sources and improve capital efficiency.

The proceeds from this issuance will be utilised for general working capital and to support UniFuels Singapore’s expanding operations across global trading hubs. Koh Kuan Hua, CEO of UniFuels, expressed satisfaction with the partnership with ADDX, stating, “This oversubscribed debut issuance is a strong signal of investor confidence in our business strategy and growth outlook.”

Inmoo Hwang, Group Managing Director of ADDX, highlighted the significance of the issuance, noting that it underscores UniFuels’ credibility and strategic direction. “We are pleased to support companies that take a disciplined approach to growth and capital access,” Hwang said.

This issuance marks a strategic milestone in UniFuels’ capital markets roadmap, as the company continues to leverage innovative infrastructure to support liquidity, working capital, and operational flexibility. Established in 2021, UniFuels has rapidly evolved into a dynamic company, delivering reliable fuel solutions across diverse markets and time zones, whilst supporting customers in achieving their operational and decarbonisation goals.
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The Singapore Department of Statistics has announced that the Consumer Price Index (CPI) for June 2025 experienced a slight decline of 0.1% compared to the previous month. However, on an annual basis, the CPI rose by 0.8%, indicating a modest increase in consumer prices over the past year.

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The Housing Development Board (HDB) has unveiled its July 2025 Build-to-Order (BTO) exercise, releasing 5,547 new flats across eight projects in Singapore. This launch includes a significant number of Prime flats and introduces new priority measures for singles and second-timer families. Kelvin Fong, CEO of PropNex, highlighted that this exercise is expected to see a higher demand due to these changes.

The July BTO exercise marks the first time singles receive priority access when applying for 2-room Flexi flats to live with or near their parents. Additionally, there is an increased allocation for second-timer families, with 3-room and larger flats seeing a higher quota. This is anticipated to boost demand from these groups, with application rates projected to be between 3 and 3.5 times, compared to 2.6 times in February 2025.

Prime flats make up 47% of the new offerings, the highest proportion since the classification framework’s introduction in October 2024. The subsidy clawback rates for these Prime flats have increased, with Clementi Emerald at 12% and other projects at 11%. Despite this, demand is expected to remain strong due to the attractive locations.

Projects like Clementi Emerald, Toa Payoh Ascent, and Alexandra Vista are expected to be particularly popular due to their proximity to MRT stations and local amenities. The Clementi Emerald project, with its shorter waiting time and strategic location, is anticipated to be in high demand. Meanwhile, the Sembawang Beacon project introduces the first BTO flats in the new Sembawang North estate, offering a variety of unit types.

Overall, the July 2025 BTO exercise is set to attract significant interest, particularly from singles and second-timer families, due to the strategic changes in allocation and the attractive locations of the projects.
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Moomoo Singapore has surpassed 1.5 million users, marking a significant milestone as it reaches one in two Singapore residents aged 20 to 70. This achievement was celebrated at MooFest 2025, held on 12 July at Suntec Convention Centre, which drew a record-breaking crowd of over 4,000 attendees. The event showcased Moomoo’s latest innovations, including the launch of Moomoo AI, a conversational investment assistant powered by large language model (LLM) technology, and an expansion into cryptocurrency trading.

The introduction of Moomoo AI aims to assist everyday investors in making informed, real-time decisions by providing holistic insights through a simple interface. Additionally, Moomoo remains the only online broker in Singapore licensed to offer crypto trading, with plans to introduce new products and analytics to meet the growing demand for portfolio diversification.

Gavin Chia, CEO of Moomoo Singapore, highlighted the company’s rapid growth, noting a 50% increase in users since April 2024. “Reaching 1.5 million users is more than just a milestone — it’s a reflection of how deeply moomoo Singapore is woven into the fabric of our nation’s financial and social ecosystem,” Chia stated.

MooFest 2025 also featured over 50 speakers from 30 financial institutions, discussing topics from macroeconomic shifts to AI-powered investing. The event emphasised practical education, helping investors navigate the evolving market environment. Moomoo’s commitment to innovation and education is further demonstrated by its plans to open boutique physical stores, blending digital convenience with personalised support.

Looking forward, Moomoo aims to continue expanding its AI tools and enhancing product accessibility, reinforcing its role in the digital asset ecosystem. The success of MooFest 2025 underscores Moomoo’s influence in shaping a smarter, more confident retail investing culture in Singapore and beyond.
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The Housing Development Board (HDB) has announced the launch of 5,547 flats across eight projects in its July 2025 Build-To-Order (BTO) exercise. This includes 2,601 Prime flats and 2,946 Standard flats. The exercise is part of HDB’s broader strategy to address housing demand, with a total of 10,579 flats launched so far this year and another 9,100 expected in October 2025.

The July 2025 BTO exercise also features more than 4,600 flats under the Sale of Balance Flats (SBF) exercise, with 1,733 already completed. This marks the largest supply of SBF flats since 2012, potentially easing demand pressure in the resale market, which has faced tight supply for a decade.

The clawback subsidy for the July 2025 BTO exercise is the highest to date, influenced by additional subsidies rather than proximity to the city centre. Notably, Clementi Emerald, despite being further from the city centre, has a higher clawback subsidy than other Prime BTO projects.

HDB is increasing the allocation for second-timer families by 5 percentage points, a move expected to ease demand for larger flats in non-mature estates. Additionally, singles will receive priority for 2-room flexi flats near their parents, potentially increasing competition for these units.

The deferred income assessment change may see more young couples qualifying for BTO flats, whilst the supply of 2-room flexi flats has decreased by 6.4% since February 2025. The application rate among singles remains high, reflecting ongoing demand.

Overall, the July 2025 BTO exercise is set to impact both the new and resale housing markets, with potential implications for future subsidy levels and housing policies.
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