Industry News

Singapore Exchange (SGX) has reported a rise in trading volumes, surpassing expectations for the second half of the financial year ending June 2025.

This increase is attributed to heightened market volatility and supportive measures from the Monetary Authority of Singapore to bolster the equity market.

The securities’ daily average traded value is projected to continue its upward trend into the financial years 2026 and 2027.

The latest data indicates that both securities turnover and derivatives volumes have exceeded previous estimates.

Analyst Shekhar Jaiswal maintains a neutral stance on SGX, with a revised target price of SGD14.10, up from S$13.60. Despite the positive trading volume trends, the year-to-date share price is believed to already reflect the potential earnings upside, supported by a reasonable forward price-to-earnings ratio.

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Savills Singapore has reported a significant rise in the average median rents for 3-bedroom units in Singapore’s prime districts. In Q1 2025, District 1 (Boat Quay/Marina/Raffles Place) saw rents increase by 8.5% to $6,750 (S$9,225), whilst District 2 (Chinatown/Tanjong Pagar) experienced a 14.3% rise to $5,850 (S$8,000). Meanwhile, District 4 (Harbourfront/Telok Blangah) saw a slight decrease of 0.6%, bringing rents to $6,000 (S$8,200).

The rental market for 1-to-5-bedroom units across all market segments also saw increases, with the Core Central Region (CCR) rising by 1.3%, the Rest of Central Region (RCR) by 1.4%, and the Outside Central Region (OCR) by 1.5%. The most popular rental types, 1-to-3-bedroom units, experienced a 2.2% increase in the CCR, whilst the RCR and OCR saw marginal rises of 0.1% and 0.2%, respectively.

George Tan, Managing Director of Livethere Residential at Savills Singapore, noted, “Leasing activities remained resilient with tenant interest continuing at a consistent pace, which reflects demand but increasingly becoming selective.” He added that the market is stabilising, with prices expected to hold steady for the rest of the year.

Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, highlighted the impact of economic uncertainty on corporate expansion plans, which may slow down hiring. He also pointed out that higher property taxes and inflationary pressures are discouraging landlords from accepting lower rental offers.

Overall, Savills expects rents to remain stable throughout 2025, with some districts potentially experiencing varied rental trajectories.
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Notion, the global workspace platform, has unveiled research highlighting significant inefficiencies in Singapore’s workplaces, revealing that local office workers lose an average of 66 minutes daily to inefficient tasks. This amounts to over five hours weekly, potentially costing the nation up to $62 billion (SG$85b) annually, or 12.5% of its GDP. The study surveyed 1,000 office workers and pointed to fragmented digital experiences as a primary cause of this productivity loss.

Fragmented digital tools are a major contributor to workplace stress, with nearly half of respondents using three to four different tools daily. More than a quarter juggle five or more, leading to frequent tool-switching and increased cognitive load. This constant switching, occurring up to ten times a day, adds to workplace stress for 48% of workers. Additionally, nearly a quarter of respondents spend one to two hours daily searching for documents and data across platforms.

The research indicates a strong appetite for AI solutions, with 82% of office workers expressing interest in AI tools to reduce time spent on information searches and platform switching. Younger professionals, particularly Gen Z, show a keen interest in AI-powered workflows.

Andrew McCarthy, General Manager of ANZ, SEA, and India at Notion, stated, “The digital workplace has become a maze of disconnected tools that’s taking a serious toll on Singapore professionals. With 76% of workers calling for businesses to unify their tech stack, we need to listen.”

Notion is responding to this demand by investing in Singapore and hiring its first local team member. The company has also announced plans to expand its accessibility across Southeast Asia with upcoming launches in Thai, Vietnamese, and Indonesian languages.
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Brilliance Capital has announced the relaunch of four adjoining B1 strata industrial units at E-Centre @ Redhill, located at 3791 Jalan Bukit Merah. These units, totalling approximately 6,049 square feet, are now available for sale by private treaty at a revised price of $475 (S$650) per square foot. This adjustment aims to attract both owner-occupiers and investors seeking a strategic city-fringe industrial location.

The E-Centre @ Redhill is designed to accommodate a variety of industrial needs, including manufacturing, logistics, and distribution. Its modern façade and efficient layout make it appealing to businesses looking to establish a presence in Singapore’s industrial sector. The property benefits from excellent connectivity, being close to Redhill and Tiong Bahru MRT stations and major expressways like the Ayer Rajah Expressway and Central Expressway.

The units offer flexibility with four individual strata titles, allowing buyers to adapt the space to their needs. Sizes range from 1,259 to 1,604 square feet, catering to both small-to-medium-sized businesses and larger enterprises. The property is zoned for ‘Business 1’ industrial use and is available to both local and foreign buyers without the Additional Buyer’s Stamp Duty.

Sammi Lim, Founder and Executive Director of Brilliance Capital, stated, “We are delighted to bring this exceptional asset back to the market at a new, attractive price point. Its central location, scale, and flexibility make it a rare find in today’s industrial landscape.”

With the Greater Southern Waterfront project expected to enhance infrastructure and commercial activity in the area, the E-Centre @ Redhill offers promising future capital growth potential. Brilliance Capital is the sole marketing agent for this sale.
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Singapore-headquartered SeaTrek, a prominent dry bulk operator, has announced a significant reshuffle in its leadership team as it embarks on a new phase of growth. The company has appointed Rob Aarvold as Global Chief Executive Officer, with Anthony Diamante taking on the role of Director of Business Development and Derivatives, and Bryan Swindoll as Director of Commercial. These appointments aim to bolster SeaTrek’s global reach and reinforce its commitment to customer-centric operations.

Rob Aarvold, a seasoned maritime leader, brings extensive experience in liner, multi-purpose, and bulk shipping. His expertise in unitised and geared shipping is expected to be pivotal in steering SeaTrek’s future success. “I am honoured to lead SeaTrek during this pivotal phase of its development,” Aarvold stated, emphasising the company’s dedication to delivering reliable and efficient freight solutions.

Founded over two decades ago by Asifur Chowdhury, SeaTrek has evolved from a family-owned business into a global operator. Asifur, who continues to serve as Executive Director, remarked, “This marks an important new chapter for SeaTrek, one led by respected industry professionals who share our values.”

Anthony Diamante, with a robust background in commodities and freight logistics, will focus on delivering bespoke supply-chain solutions. Bryan Swindoll, leveraging his expertise in commercial and operational maritime freight, will lead SeaTrek’s trading strategy, particularly in the Atlantic market.

The new management team is set to expand SeaTrek’s freight proposition, helping clients navigate complex trading environments. With a renewed focus on service and innovation, SeaTrek is poised to offer integrated solutions to clients worldwide.
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Jumio’s latest research, the 2025 Jumio Online Identity Study, reveals a significant decline in consumer trust in digital spaces due to the rise of AI-powered fraud and deepfakes. Conducted with over 8,000 adults across the US, UK, Singapore, and Mexico, the study found that 69% of respondents now view AI fraud as a more severe threat to personal security than traditional identity theft. In Singapore, this concern is even higher, with 74% of participants expressing increased apprehension.

The study highlights that AI-generated scams are perceived as more challenging to detect, with 71% of Singaporean respondents agreeing. Common AI-powered fraud tactics causing concern include fake digital IDs, scam emails, and deepfakes, with Singapore showing higher anxiety levels than the global average. Bala Kumar, Jumio’s chief product and technology officer, emphasised the need for businesses to “rethink digital identity protection” to maintain consumer trust.

As AI fraud becomes more industrialised, consumers are increasingly relying on themselves for protection, with 93% trusting their own vigilance over government or Big Tech. However, 43% believe Big Tech should bear the primary responsibility for combating AI fraud. Jumio’s research indicates a willingness among consumers to engage in more comprehensive identity verification processes, particularly in high-stakes sectors like banking and healthcare.

Jumio CEO Robert Prigge stressed the importance of developing advanced tools to combat AI fraud, stating, “Traditional identity verification isn’t going to cut it anymore.” The study underscores the urgent need for businesses to adopt sophisticated security measures and foster consumer trust through transparency and education.
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Nearfield Instruments and Singapore’s A*STAR Institute of Microelectronics (IME) have entered into a multiyear research collaboration to advance semiconductor metrology technologies. This partnership, announced on 20 May 2025, seeks to innovate metrology solutions critical for efficient AI chip production, leveraging Nearfield’s expertise in high-precision metrology and A*STAR IME’s cutting-edge semiconductor research.

The collaboration comes at a time when the demand for compute power is surging due to the rapid rise of AI. As traditional semiconductor scaling approaches its limits, the industry is increasingly adopting heterogeneous integration—advanced packaging of different chip types into a single system—to achieve superior compute performance and energy efficiency. This shift necessitates enhanced process control and precision metrology to maintain production yield and efficiency.

Hamed Sadeghian, CEO of Nearfield Instruments, emphasised the importance of metrology in the AI revolution, stating, “Nearfield enables the AI revolution by providing the metrology solutions needed to tackle the challenges of heterogeneous integration with a specific focus on hybrid bonding.”

Terence Gan, Executive Director of A*STAR IME, highlighted the collaboration’s potential impact, noting, “Our collaboration with Nearfield Instruments will drive innovation in metrology to achieve the high yield and energy-efficient manufacturing of AI and high-performance computing chips.”

The partnership aligns with Singapore’s strategic efforts to bolster its semiconductor industry through global collaborations. Chang Chin Nam, Senior Vice President of the Singapore Economic Development Board, remarked on the significance of this initiative, affirming Singapore’s commitment to supporting advanced semiconductor research and development.

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New research by Zero Carbon Analytics (ZCA) reveals that whilst China remains a dominant force in Southeast Asia’s clean energy transition, Japan, South Korea, and Australia are poised to expand their influence in the region. The study, focusing on Indonesia, Malaysia, the Philippines, Thailand, and Vietnam, highlights these countries’ commitments to renewable energy and green technology.

Japan has taken a leading role in financing frameworks such as the Just Energy Transition Partnership (JETP) and the Energy Transition Mechanism (ETM). It co-leads Indonesia’s $20 billion JETP and supports Vietnam’s JETP. Additionally, Japan has invested $1.3 billion in solar panels and $142 million in geothermal energy across the five countries from 2013 to 2023. It is also the largest supplier of electric buses and vehicles to the Philippines.

South Korea stands out as the largest exporter of battery components to Malaysia and Indonesia, with exports valued at $143.37 million and $52.99 million, respectively. It is also the second-largest exporter of electric vehicle batteries to Indonesia, following China.

Australia’s unique contribution lies in regional transmission projects, notably the Australia-Asia Power Link, which aims to export solar energy to Singapore via Indonesia.

The study’s release comes ahead of the 46th ASEAN Summit in Malaysia, where regional actions to strengthen clean industry resilience are expected to be discussed. This meeting occurs amidst US tariff shocks on clean energy products, underscoring the importance of regional collaboration in the energy transition.
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Pasture Holdings has signed a non-binding term sheet with the Government Pharmaceutical Organisation of Thailand to exclusively distribute its Oral Disintegrating Strips (ODS) in the country. This agreement marks a significant step in the commercialisation of Pasture’s proprietary drug delivery system, with a formal distribution agreement anticipated to follow.

The ODS, known as HART-S, contains sildenafil 50mg and offers a discreet, fast-acting alternative to conventional tablets for treating erectile dysfunction. The strips dissolve quickly in the mouth without the need for water, providing enhanced convenience for patients. A clinical trial conducted by Thailand’s Government Pharmaceutical Organisation confirmed the strips’ effectiveness and safety, with a faster onset of action compared to traditional tablets.

Lloyd Soong, Executive Chairman and CEO of Pasture Holdings, highlighted the strategic importance of this agreement, stating, “Our ODS was a cornerstone of our growth story during the IPO. This strategic step with GPO Thailand opens new revenue opportunities and strengthens our regional presence.”

The signing of the term sheet follows extensive negotiations and due diligence, reflecting a shared commitment to advancing innovative healthcare solutions. Pasture Holdings, a Singapore-based global pharmaceutical company, continues to focus on developing accessible drug delivery systems across the region.

As Pasture moves towards a formal distribution agreement, the company aims to expand its presence and offer scalable healthcare solutions that meet evolving market needs.
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SIA Engineering Company Limited (SIAEC) has announced the signing of new Comprehensive Services Agreements with Singapore Airlines (SIA) and its low-cost subsidiary, Scoot. These agreements, effective from 1 April 2025, replace previous contracts from April 2023 and are set to run for two years, with an option for a one-year extension. The agreements are expected to generate a total labour revenue of $1.3b over the initial term.

The agreements cover a wide range of maintenance, repair, and overhaul (MRO) services, as well as fleet management support for the SIA and Scoot fleets. This development is significant for SIAEC, as it strengthens its business relationship with two major airlines in the region.

SIAEC is a leading provider of MRO services in the Asia-Pacific region, serving over 80 international carriers and aerospace equipment manufacturers. The company operates line maintenance services at more than 30 airports across nine countries and offers comprehensive airframe, engine, and component services.

The company also benefits from 25 subsidiaries and joint ventures with original equipment manufacturers and strategic partners in various countries, including Singapore, Cambodia, Hong Kong, and the United States. These partnerships enhance SIAEC’s service offerings and capabilities.

No directors or controlling shareholders of SIA and SIAEC have any direct or indirect interest in the transaction, aside from their respective interests in the companies.
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