Industry News

NetLink NBN Management Pte. Ltd., the Trustee-Manager of NetLink NBN Trust, has announced its financial results for the fiscal year ending 31 March 2025. Despite a slight decline in revenue and EBITDA, the company reported a 1.1% increase in its distribution per unit (DPU), now at 5.36 Singapore cents. This growth in DPU comes amidst a 1.0% decrease in revenue, which fell to $407.0m, largely due to reduced ancillary project revenue.

The decrease in revenue was primarily attributed to a $6.2m drop in ancillary project revenue, resulting from fewer work orders. Additionally, connections revenue saw a $1.5m decline following a reduction in the monthly recurring charge after a price review by the Infocomm Media Development Authority. However, this was largely offset by an increase in connection numbers, alongside higher co-location, central office, and installation-related revenues.

The NetLink Group’s market capitalisation stands at $3.4b, with a unit price of $0.880 as of 31 March 2025. The company’s net gearing ratio is at 28.3%, with a net debt to EBITDA ratio of 2.4 times, indicating a stable financial position.

Looking ahead, NetLink plans to enhance its network resilience and extend coverage in northern Singapore. The company also aims to support Smart Nation initiatives and enterprise digitalisation with reliable fibre solutions. These efforts are part of NetLink’s broader strategy to maintain sound capital management and strengthen sustainability performance.
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Epson has been recognised by IDC as the leading brand in the Large Format Printer, Graphic Textile, Photo Graphic, and Signage categories across the ASEAN region for 2024. This accolade highlights Epson’s continued innovation and excellence in professional printing, with significant market shares in multiple product categories.

Epson’s leadership in the Large Format Printing category is marked by a 19.2% market share, setting industry standards in Computer-Aided Design and Graphic Products.

In Singapore, Epson commands a 44.5% market share, with Thailand, the Philippines, Malaysia, and Indonesia following.

In the Graphic Textile sector, Epson holds a remarkable 43% market share in ASEAN, driven by innovative products like the SureColor SC-F1030 and the SureColor G6030 DTFilm Printer. The Philippines leads with a 51.1% market share, followed by Indonesia, Malaysia, and Thailand.

Epson also dominates the Photo Graphic (Aqueous Ink) category with a 20.4% market share, offering high-quality photo applications through products such as the SureColor P9530. Singapore leads with a 67.9% market share, whilst Thailand, Malaysia, and Indonesia follow.

In the Signage category, Epson maintains a 10.5% market share, providing advanced Eco Solvent, Latex, and Solvent ink technologies. Singapore holds a 48.5% market share, with Thailand and Malaysia trailing.

Jocelyn Tan, Regional Deputy Director, Commercial Products & Industrial Inkjet, stated, “We’re thrilled to be recognised by IDC as a leader in these categories, reflecting our commitment to innovation and high-quality printing solutions across ASEAN.”
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Pan Pacific Hotels Group (PPHG) has announced a major transformation of its Pan Pacific Perth hotel, aligning with its strategy to position properties as leaders in the luxury sector. This initiative, part of PPHG’s global asset enhancement strategy that began in 2021, aims to meet the evolving expectations of travellers and the resurgent travel sector.

The transformation of Pan Pacific Perth includes a redesign of its lobby, convention venues, rooms, and club lounge. With 488 guest rooms, it stands as PPHG’s largest property in Australia. The redesign, led by FDAT Architects, draws inspiration from Western Australia’s landscapes, integrating sustainable elements like panels made from repurposed denim and recycled plastics. This aligns with PPHG’s commitment to sustainable tourism, highlighted by its recent Global Sustainable Tourism Council certification.

The hotel’s convention floor, the largest in Perth at 2,500 square metres, has been upgraded with advanced LED screens and audiovisual technology, catering to a variety of events. PPHG CEO Choe Peng Sum emphasised the strategic importance of Australia, noting the investment in Pan Pacific Perth supports Perth’s growth as a business hub, especially with the upcoming AU$5b airport redevelopment.

PPHG is also enhancing other Australian properties, including PARKROYAL Melbourne Airport and PARKROYAL Parramatta Sydney, to meet rising tourism and MICE (meetings, incentives, conferences, and exhibitions) demands. The Australian MICE industry is projected to grow significantly, presenting opportunities for PPHG to expand its offerings for both leisure and business travellers.
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Eden Grace, a prominent maid agency in Singapore, has announced its annual Heart of the Home Awards, set to take place in December. This event aims to honour the significant contributions of domestic helpers and their employers, highlighting the strong partnerships that contribute to happier homes across the city-state.

The awards ceremony will feature several categories, including Helper of the Year and Employer of the Year, recognising individuals who demonstrate exceptional commitment, empathy, and professionalism. Additionally, Character Trait Awards will celebrate core values such as kindness, patience, and integrity, with nominees put forward by employers wishing to acknowledge the unique strengths of their helpers.

What distinguishes these awards is their non-competitive nature; all nominees are considered finalists, provided their nomination includes a thoughtful justification. This approach, according to Eden Grace, aims to foster appreciation and build confidence rather than compare achievements.

The judging panel, comprising representatives from Eden Grace, will evaluate nominees based on criteria such as communication skills, initiative, work ethic, adaptability, and their impact on household harmony. The agency’s spokesperson emphasised, “This annual award ceremony is our way of saying thank you. It’s about celebrating the heart behind the work on both sides.”

Looking ahead, Eden Grace plans to expand the award categories to reflect the evolving roles within the domestic employment community. The agency continues to support both helpers and employers through training and education, reinforcing its commitment to building meaningful connections and improving domestic work conditions in Singapore.
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Brookfield Asset Management has announced its inaugural investment in Singapore, acquiring two business parks and a high-tech industrial building for S$535.3m ($413m) from Mapletree Industrial Trust. This strategic move underscores Brookfield’s confidence in Singapore’s high-tech research and development sector.

The acquired properties, The Strategy and The Synergy, are situated in the International Business Park near the Jurong Lake District, which is poised to become Singapore’s second central business district. Additionally, the Woodlands Central complex, located in the northern economic hub, is part of the acquisition. Together, these properties cover a gross floor area of approximately 1.8 million square feet and are conveniently located near major transport links.

Andrew Burych, Brookfield’s Managing Partner and Head of East Asia Real Estate, highlighted the significance of Singapore as a strategic manufacturing hub. “As the gateway to Southeast Asia, Singapore and its high-tech business parks are benefiting from decades of government initiatives designed to attract and retain global multinational companies and support the growth of Singaporean companies,” he stated.

Brookfield has been active in Singapore since 2014, collaborating with local investors across various sectors, including real estate and infrastructure. The firm’s ongoing priorities in the region focus on decarbonisation, digitalisation, and deglobalisation, aiming to leverage its operational expertise to foster growth in its portfolio companies.

This acquisition marks a significant step for Brookfield in expanding its footprint in the Asia Pacific region, aligning with its strategy to partner with investors on innovative solutions.
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DCS Card Centre and Visa have unveiled the DeCard Visa card, a micro credit card that offers users the flexibility to top up using either fiat currency or digital assets. This innovative card, launched on 15 May 2025, aims to empower consumers and businesses by providing a secure and seamless way to manage their finances without incurring unnecessary debt. The card is designed to cater to the growing trend of digital asset ownership in Singapore, where 26% of residents held digital assets in 2024.

The DeCard Visa card addresses the increasing demand for accessible and controlled spending options. Unlike traditional credit cards, it operates on a top-up model, allowing users to fund their accounts through Singapore Dollar transfers or digital assets, such as USDT and USDC. These digital assets can be converted into fiat currency for spending at over 150 million Visa-accepting merchants worldwide, facilitated by MAS-licensed Digital Payment Token service providers.

Elsa Qiu, Chief Commercial Officer at DCS Card Centre, stated, “By enabling top-ups through fiat or digital assets, we’re allowing both mainstream and Web3-savvy users to manage their money on their own terms — all within Singapore’s trusted regulatory framework.”

The card offers several advantages, including competitive conversion costs, no annual fees, and compatibility with digital wallets like Google Pay and Apple Pay. It also provides significant savings on foreign exchange transaction fees, making it a cost-effective choice for users.

Nischint Sanghavi, Head of Digital Currencies – Asia Pacific at Visa, highlighted the card’s role in bridging traditional finance with digital assets, stating that it represents a significant step towards an integrated financial ecosystem.

The DeCard Visa card is part of DCS’s strategy to modernise the payments landscape, starting in Singapore with plans for international expansion.
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Oliver Healthcare Packaging has inaugurated a state-of-the-art manufacturing facility in Johor, Malaysia, to bolster its operations in the Asia-Pacific region. The 120,000 square foot plant, located in the i-Tech Valley of Iskandar Puteri, was officially opened by Yang Berhormat Tuan Lee Ting Han, Chairman of the Johor State Investment, Trade, Consumer Affairs and Human Resources Committee.

This new facility is set to enhance Oliver’s capacity to produce high-quality medical-grade packaging, including pouches, lids, and roll stock. It is equipped with advanced technology and ISO-certified cleanrooms, ensuring compliance with stringent industry standards. The plant will also create jobs in quality, engineering, logistics, and supply chain sectors, contributing to the local economy.

Michael Benevento, CEO of Oliver, highlighted the strategic importance of the new facility, stating, “Asia-Pacific has fast become a hub for pharmaceutical and medical device manufacturers, and Malaysia alone is home to the highest concentration of medical device manufacturing sites in the region.” The facility aims to address regional demand and expertise gaps, enhancing in-region sourcing capabilities.

In addition to boosting production, the Johor facility underscores Oliver’s commitment to sustainability. The site features energy-saving LED lights and a rainwater harvesting system, aligning with the company’s goal to reduce emissions and improve efficiency. Kenneth De Muynck, General Manager for Asia-Pacific, remarked, “We are committed to delivering unsurpassed innovation and quality, and we look forward to better meeting the evolving needs of the region’s healthcare companies.”

This expansion is part of Oliver’s broader strategy to support the medical industry across Asia, which includes an ISO-7 converting facility in Suzhou, China, and a technical lab in Singapore.
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The Institute of Singapore Chartered Accountants (ISCA) has announced the election of six new Council Members, alongside plans to invest up to $7m in 2025 to enhance the Singapore Chartered Accountant Qualification (SCAQ) programme and drive international growth. The new Council Members will serve until 2027, bringing diverse expertise from various sectors, including public accounting, listed companies, and government finance.

ISCA’s recent achievements include a 47% increase in SCAQ enrolments, a record-high membership retention rate of 98.3% in 2024, and the establishment of 12 overseas chapters in nine countries. The organisation also reported a $53m surplus, boosting its reserves to $113.8 million.

The new Council Members include Ang Suat Ching, Chin Chee Choon, Lee Eng Kian, and Gajendran SO Vyapuri. Re-elected members are Lo Mun Wai, Judy Ng, Cyndi Pei, and Song Yeow Chung. Additionally, Esther Wee and Tan Boon Gin have been appointed, with Wee representing the government and Tan bringing regulatory expertise.

ISCA President Teo Ser Luck expressed optimism about the future, stating, “The Council members bring with them many years of experience from a wide range of industries and sectors. Their diverse backgrounds will bring fresh ideas and new perspectives to help advance both ISCA and the accounting profession.”

In 2025, ISCA aims to acquire a second property valued at approximately $55m to support its financial health and long-term growth plans. This strategic move underscores ISCA’s commitment to enhancing its global presence and delivering lasting value to its members.
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SATS Ltd., a leading provider of air cargo and ground handling services, has announced a significant investment of over S$250m to enhance its operations at Changi Airport. The investment, set to be rolled out from 2025, will focus on modernising ground support equipment and expanding cargo handling capabilities to meet growing demands.

The investment includes over S$150m dedicated to renewing and expanding the ground support equipment (GSE) fleet over five years. This project, commencing on 1 April 2025, will see the refurbishment of over 500 specialised vehicles and the addition of more than 100 new units. The upgrades will incorporate advanced safety features such as anti-collision technology and proximity sensors, aligning with the International Air Transport Association’s guidelines. SATS also plans to increase the electrification of its fleet from 35% to 55% by the financial year 2030, contributing to greener airport operations.

Additionally, S$100m will be invested in enhancing cargo operations over two years, with completion expected by early 2027. The enhancements will focus on the Singapore Hub’s largest air cargo facility, AFT6, which will be reconfigured as a dedicated Singapore Airlines cargo hub. This will increase peak day handling capacity by over 50%, from 1,750 to 3,150 tonnes.

Henry Low, CEO of SATS Singapore Hub, stated, “These upgrades and enhancements will enable us to support our airline customers more effectively and ensure that Singapore continues to excel as a world-leading air hub.”

These strategic initiatives are expected to optimise turnaround times and support the anticipated growth in cargo volumes, reinforcing Changi Airport’s position as a global aviation hub.
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LHN Limited has announced a significant 29.4% increase in revenue for the first half of 2025, reaching $51.5m (S$70.6m), compared to $39.8m (S$54.5m) in the same period last year. The company’s net profit also saw an 8.8% rise, totalling $10.3m (S$14.1m), driven by its Space Optimisation and Property Development businesses, including contributions from its co-living subsidiary, Coliwoo.

The company attributes its robust financial performance to high occupancy rates across its properties and strategic expansions. A notable development is the launch of Coliwoo Hotel Kampong Glam, a co-living hotel located at 48 Arab Street, which aims to meet the growing rental demand in Singapore. This new venture offers a unique blend of cultural immersion and modern conveniences, appealing to solo travellers, digital nomads, and young professionals.

Kelvin Lim, Executive Chairman of LHN Limited and Founder of Coliwoo, highlighted the strategic importance of the new hotel, stating, “The launch of Coliwoo Hotel Kampong Glam represents a strategic milestone for Coliwoo, enhancing our presence within one of Singapore’s most vibrant and culturally significant districts.”

The hotel features 24 rooms designed with a nod to the area’s rich heritage, offering guests a blend of comfort and cultural experience. Additionally, the hotel provides smart technology solutions, including a self-check-in system and a mobile app for managing bookings and community events.

Looking ahead, LHN Limited plans to continue its expansion with the upcoming opening of another property at 453 Balestier Road in mid-June 2025, further cementing its position in Singapore’s co-living and hospitality sector.

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