Industry News

Tesa, a global leader in adhesive solutions, has inaugurated its cutting-edge Debonding on Demand laboratory in Singapore. This strategic initiative, in partnership with A*STAR, Singapore’s leading public research agency, is set to accelerate the development of advanced adhesive technologies, particularly for the automotive and electronics industries. The lab will focus on creating high-performance, removable adhesives that align with sustainable manufacturing practices.

The collaboration between tesa and A*STAR is designed to bolster Singapore’s status as a hub for innovation in sustainable and circular manufacturing. The lab will not only advance product development but also contribute to the local ecosystem through knowledge transfer and talent development. This aligns with Singapore’s Green Plan 2030, which emphasises sustainable growth.

The launch event was attended by key figures, including tesa CEO Norman Goldberg and A*STAR CEO Beh Kian Teik. A Memorandum of Understanding was signed to further the advancement of debonding-on-demand technology. Goldberg stated, “Our Debonding on Demand technologies will be a future game-changer, enabling strong, durable bonds that can be easily removed on demand.”

The lab will initially test up to 20 new concepts, with successful ones being scaled up to meet customer needs. This initiative is expected to create an innovation bridge between European engineering and Asian technological leadership, enhancing tesa’s global services.

As operations commence, the lab is poised to make significant contributions to the circular economy, offering new perspectives on product design and lifecycle management.
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Private home prices in Singapore experienced a slight increase of 0.5% quarter-on-quarter in the second quarter of 2025, as reported by the Urban Redevelopment Authority (URA). This follows a 0.8% rise in the first quarter of the year. The growth was primarily driven by price increases in the Core Central Region (CCR) and Outside Central Region (OCR), which saw rises of 2.3% and 0.9% respectively. However, the Rest of Central Region (RCR) experienced a 1.1% decline.

The Housing Development Board (HDB) resale price index also saw a 0.9% increase in the same period, contributing to a 2.5% appreciation in the first half of 2025. Despite a quieter resale market, with an 11.7% year-on-year drop in sales volumes to 4,340 units, the primary home sales market remains robust. Sales for the first five months of 2025 surged by 157% year-on-year to 4,362 units.

Looking ahead, the market is expected to be bolstered by a strong launch pipeline, with an additional 5,000 units anticipated for the remainder of 2025. Notable upcoming launches include the 343-unit Lyndenwoods and UPPERHOUSE at Orchard Boulevard. Additionally, the government has released land sites for 4,725 residential units under its confirmed list in the second half of 2025.

The sector remains neutral amidst a slower macroeconomic outlook and tariff uncertainties, which could temper buying sentiment. However, UOL Group is highlighted as a preferred sector pick due to its strong balance sheet and potential for value creation through acquisitions and asset enhancements.
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Oiltek International Limited, listed on the SGX Mainboard, is in discussions to participate in a Sustainable Aviation Fuel (SAF) pilot plant in Sarawak. The project, spearheaded by SEDC Energy, a subsidiary of the Sarawak Economic Development Corporation, aims to establish a 15 kilotonnes per annum (15KTA) plant using Sulzer’s bioflux technology. Apeiron Bioenergy, Asia’s largest used cooking oil collector, will supply the waste feedstock.

The initiative reflects Sarawak’s ambition to contribute to global aviation decarbonisation efforts and enhance its domestic clean fuel manufacturing capabilities. “This initiative reflects Sarawak’s intent to contribute meaningfully to global aviation decarbonisation efforts,” stated Sulzer. The project also aligns with the International Civil Aviation Organisation’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), which mandates CO2 emission offsets for international flights by 2027.

Oiltek Sdn Bhd, a subsidiary of Oiltek International, is currently engaged in discussions with SEDC Energy. However, no definitive agreements have been reached, and no formal plans have been approved by Oiltek’s Board. The company advises shareholders to exercise caution and avoid speculative actions regarding their investments.

The SAF plant is part of Sarawak’s broader strategy to position itself as a future energy hub. By leveraging partnerships with global leaders like Sulzer and Apeiron Bioenergy, Sarawak aims to develop a sustainable UCO collection ecosystem and enhance its hydrogen value chain. The project underscores the region’s commitment to renewable energy and circular economy development.
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MoneyHero Group has unveiled the inaugural SingSaver Best-Of Awards, an annual programme designed to recognise excellence in personal financial products across Singapore. The awards, which will evaluate 45 products in categories such as credit cards, digital banks, investments, and insurance, aim to simplify financial decision-making for Singaporeans by highlighting products that offer exceptional value.

The evaluation process will involve a rigorous assessment by the MoneyHero team and a panel of local personal finance influencers. Criteria include annual fees, interest rates, sign-up incentives, rewards, user experience, and policy flexibility. The winners will be announced at a gala dinner on 17 July 2025 in Singapore, bringing together financial institutions, industry influencers, and media.

Rohith Murthy, CEO of MoneyHero, stated, “The inaugural SingSaver Best-Of Awards reflect our decade-long legacy of helping Singaporeans make informed financial choices. We aim to highlight products that enhance consumers’ financial wellbeing through exceptional value and user experience.”

Following the Singapore launch, MoneyHero plans to expand the awards programme to Hong Kong, the Philippines, and Taiwan annually. This initiative underscores MoneyHero’s commitment to spotlighting the best financial products and services, providing invaluable guidance to consumers across the region. For more details on the awards and shortlisted products, visit SingSaver’s official website.
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Singapore-based Global Finance & Technology Network (GFTN) has announced the appointment of Queen Máxima of the Netherlands as Chair of its International Advisory Board (IAB), effective 1 July 2025. Joining her are Agustín Carstens, former General Manager of the Bank for International Settlements, and Sanjiv Bajaj, Chairman of Bajaj Finserv.

This marks a significant milestone for GFTN, a Singapore-based not-for-profit organisation dedicated to fostering efficient and inclusive financial systems through technology and innovation.

Queen Máxima, known for her role as the United Nations Secretary-General’s Special Advocate for Financial Health, has been a prominent figure in promoting accessible financial systems globally. Her efforts have particularly focused on underserved groups, including low-income households and smallholder farmers. “Their visionary leadership, breadth of experience and steadfast commitment to advancing financial innovation and inclusion will be invaluable for GFTN,” stated Ravi Menon, Chairman of the Board of Directors at GFTN.

Agustín Carstens brings extensive experience in both national and international finance, having led Mexico through economic challenges as governor of Banco de México. His global influence was further solidified during his tenure at the International Monetary Fund and the Bank for International Settlements, where he championed central banking modernisation.

Sanjiv Bajaj, a leading figure in India’s financial sector, has transformed Bajaj Finserv into a diverse financial services group. His digital-first approach has revolutionised access to financial products for millions in India.

The appointments are expected to drive GFTN’s mission of creating a more inclusive financial ecosystem, with a focus on innovation and sustainability.
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Cisco has unveiled a global study highlighting a significant shift in enterprise network architecture driven by AI, IoT, and cloud technologies. The study reveals that 97% of companies in Singapore consider a modernised network essential for deploying these technologies, with 92% planning to increase their IT budget for networking.

The research underscores the growing demand for resilient networks as AI intensifies network traffic complexity. Notably, 70% of businesses have experienced major outages, costing up to $160 billion globally per severe disruption annually. These outages are primarily caused by congestion, cyberattacks, and software misconfigurations.

The study also indicates that modern networks are pivotal in unlocking business value. A substantial 91% of respondents believe improved infrastructure will drive revenue, whilst 95% anticipate significant cost savings from smarter, more secure networks. Furthermore, 99% of IT leaders view autonomous, AI-powered networks as vital for future growth, although only 46% have implemented such capabilities.

Tay Bee Kheng, President of Cisco ASEAN, stated, “As businesses in Singapore and around the world harness the power of AI, the network is the critical backbone that makes it all possible. To meet the needs of tomorrow’s businesses and protect against evolving threats, today’s networks must be faster, smarter, and more resilient.”

The findings suggest that IT leaders are already realising financial benefits from current networks by enhancing customer experiences, boosting efficiency, and fostering innovation. However, the potential for growth and savings remains at risk without infrastructure designed for AI and real-time scale. As enterprise networks undergo this architectural shift, the C-suite is increasingly relying on IT leaders to spearhead these changes.
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T. Rowe Price has announced the expansion of its Asia ex Japan distribution team with the appointment of two new directors, reinforcing its commitment to the region. Zong Han Lee has been named Senior Director for Southeast Asia, based in Singapore, whilst Avis Choy takes on the role of Associate Director for Greater China, based in Hong Kong. These appointments aim to enhance the firm’s distribution partnerships and client relationships across Asia.

Zong Han Lee brings over a decade of experience in private wealth and wholesale sectors, having previously worked at UBS Asset Management. His role will focus on driving distribution partnerships in Southeast Asia. Meanwhile, Avis Choy, who has held positions at UBS Global Wealth Management and Janus Henderson Investors, will concentrate on developing relationships with intermediary clients in Greater China.

Glen Lee, Head of Intermediary Distribution, Asia ex Japan at T. Rowe Price, highlighted the firm’s growth in the intermediary channel across Asia, stating, “Clients are increasingly seeking differentiated, actively managed strategies that leverage our renowned global investment research platform.”

Since establishing its offices in Hong Kong in 1987 and Singapore in 1996, T. Rowe Price has continued to deepen its regional presence. The firm offers a range of investment solutions, including equity, fixed income, multi-asset, and alternative assets, to meet evolving client needs. Currently, T. Rowe Price manages 29 authorised funds in Hong Kong and 26 recognised funds in Singapore.

These strategic appointments are expected to bolster T. Rowe Price’s ability to deliver exceptional service and innovative solutions to its clients in Asia.
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Sheng Siong, a prominent supermarket chain in Singapore, has announced an optimistic outlook for its earnings growth, driven by plans to increase its store count. The company has maintained its “BUY” recommendation, with a revised target price of S$2.12, up from S$1.98, reflecting a 13% upside and an approximate 4% yield. This decision comes as Sheng Siong anticipates a positive earnings trajectory for the fiscal years 2025 to 2027, supported by a larger store network.

The company’s earnings forecast has been adjusted upwards by 2% for 2025, 4% for 2026, and 4.5% for 2027, based on the assumption of a higher number of stores. This expansion is expected to bolster Sheng Siong’s earnings growth momentum, alongside its attractive valuation, strong cash flow generation, and stable balance sheet. The company also plans to roll its target price forward to a blended price-to-earnings ratio for the fiscal years 2025 and 2026.

Analyst Alfie Yeo highlighted Sheng Siong’s robust cash flow and good dividend payout as key factors in maintaining the “BUY” recommendation. The company’s strategy to expand its store network aligns with its goal of capitalising on improving consumption and government support measures aimed at countering inflation in Singapore.

In summary, Sheng Siong’s strategic focus on expanding its store network is set to drive its earnings growth in the coming years, offering a stable investment opportunity with a promising dividend yield.
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The Nautical Institute Singapore is set to host its annual conference on 17 July 2025 at Furama City Centre, Singapore, spotlighting “Maritime 4.0 – Embracing Digitalisation, Sustainability & Wellbeing.” This event aims to address the maritime industry’s rapid digital transformation amidst climate action challenges and crew welfare concerns.

The conference will feature Ang Wee Keong, Chief Executive of the Maritime and Port Authority of Singapore, as the Guest of Honour, highlighting Singapore’s commitment to future-ready maritime strategies. Keynote speakers include John Martin, CEO of Gard Singapore, and Mark Cameron, Managing Director (Asia) and COO of Ardmore Shipping, both bringing decades of industry expertise.

The programme will delve into three main themes:

1. **Digitalisation**: Discussions will cover advancements in navigation systems, including ECDIS S-100 and AI in bridge operations.

2. **Sustainability**: Experts will explore alternative fuels such as ammonia and hydrogen, focusing on their potential and associated risks.

3. **Seafarer Wellbeing**: This segment will address mental health, diversity, and training for future maritime professionals.

The conference promises a full day of expert insights, panel debates, and networking opportunities, with over 20 speakers from various sectors. It aims to foster dialogue on implementing Maritime 4.0 safely and sustainably. Attendees can expect engaging discussions and ample opportunities for collaboration, making it a pivotal event for maritime progress.
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International law firm Trowers & Hamlins has bolstered its Singapore office by appointing Chuan How Tan as a Partner in its International Banking and Finance team. Chuan How, who previously worked at DFDL Singapore, brings extensive experience in advising international lenders and corporate borrowers on cross-border banking and financing transactions across the ASEAN region.

Chuan How’s expertise spans project financing, syndicated and structured financing, capital expenditure financing, and debt capital market transactions. He is particularly knowledgeable about the markets in Malaysia, Cambodia, Singapore, Vietnam, and Indonesia. His appointment is part of Trowers & Hamlins’ strategic investment in the region, aiming to strengthen its local and international Banking and Finance practice.

Abdulhaq Mohammed, Head of Asia at Trowers & Hamlins, stated, “We are growing our ASEAN offering in Singapore in a targeted way, and Chuan How’s appointment reflects our ongoing strategic investment in the region. His deep experience in cross-border finance and infrastructure matters in our priority markets not only strengthens our local capability but also adds valuable depth to our international Banking and Finance practice.”

Chuan How expressed his enthusiasm about joining the firm, saying, “I am excited to join Trowers & Hamlins at such a dynamic time for the firm. The Singapore office has built an impressive profile in a short space of time and I look forward to contributing to the growth of the ASEAN business in Singapore, Malaysia and beyond.”

This strategic move by Trowers & Hamlins is expected to enhance their service offerings in Asia and support their global network, providing clients with a deeper understanding of regional market nuances.
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