Industry News

The private and Housing Development Board (HDB) rental markets in Singapore have shown a resurgence in demand during the first quarter of 2025, following a period of stability in the previous quarter. According to OrangeTee’s latest report, private rents experienced a marginal increase, with both non-landed and landed properties seeing slight gains.

Private rental prices rose by 0.4% in Q1 2025, as per the Urban Redevelopment Authority’s rental index. Landed property rents reversed a previous decline, growing by 0.3%, whilst non-landed rents increased by 0.5%. This growth was observed across all market segments, with the Core Central Region and Rest of Central Region both climbing by 0.4%, and the Outside Central Region reversing a previous drop with a 0.7% increase.

The report highlights that the private rental market’s recovery may be prolonged due to macroeconomic uncertainties, such as tariff headwinds and potential global trade wars. However, a declining supply of completed homes and lower interest rates could mitigate significant rental price corrections, with overall rents expected to rise between 2% and 4% for the year.

In the HDB sector, rental volumes rebounded for the first time in three quarters, with a 12.3% increase in approved rental applications from Q4 2024 to Q1 2025. HDB rents remained stable, with a slight 0.1% increase. The limited supply of flats reaching their Minimum Occupation Period is expected to maintain upward pressure on rents, projected to grow by 2% to 4% in 2025.

Overall, the rental markets are poised for moderate growth, driven by demand outstripping supply in certain areas and a stable employment outlook attracting foreign students and expats back to Singapore.
“`

Mapletree Investments has announced the acquisition of an 18.11-acre site on Vetter Road in Joliet, Illinois, where it plans to develop a 276,000-square-foot logistics facility. The site, strategically located along the I-80 and I-55 interchange, offers easy access to the Joliet Intermodal Centre, North America’s largest inland port. This acquisition is part of Mapletree’s strategy to enhance its presence in key US markets.

Richard Prokup, CEO of Mapletree US, stated, “This acquisition marks another milestone in our long-term strategy to drive growth through targeted development in key US markets.” Chiagorom Osu, Head of US Logistics Development, added that the location allows Mapletree to expand into the Joliet submarket with a LEED-certified building.

Mapletree’s Chicago industrial portfolio now includes 65 assets, totalling approximately 10.3 million square feet. The acquisition is expected to further accelerate the growth of Mapletree’s US development pipeline. In addition to this project, Mapletree has received approval to develop a 149,100-square-foot facility in Chicago’s North DuPage submarket and is expanding its warehouse facility in Orlando, Florida.

Since entering the US real estate market in 2014, Mapletree has built a diverse portfolio, including logistics, data centres, offices, student housing, and multifamily properties. As of March 2024, the US accounted for about 27% of Mapletree’s total assets under management, valued at approximately $57.7b.
“`

OCBC is set to integrate its securities business, including subsidiaries OCBC Securities Pte Ltd, OCBC Securities Brokerage (Hong Kong) Limited, and PT OCBC Sekuritas (Indonesia), into its Global Markets division on 1 July 2025. This strategic move is designed to leverage the bank’s securities capabilities to better serve a wider range of customer segments. The integration will not affect existing staff or customer services.

The integration aims to strengthen OCBC’s position in wealth management, particularly for high net worth clients, and to explore opportunities in institutional equities. Kenneth Lai, Head of Global Markets, will oversee the securities business and become Chairman of OCBC Securities’ Board. Wilson He will continue as Managing Director of OCBC Securities, reporting to Lai.

OCBC’s retail brokerage has been a significant revenue driver, with OCBC Securities ranking as a top three retail stockbroker in Singapore by trading volume over the past decade. The integration will allow OCBC to offer more comprehensive wealth solutions and enhance its institutional-grade capabilities, benefiting clients such as corporates, hedge funds, and financial intermediaries.

The move comes as interest in Asia’s equity markets grows, spurred by initiatives like the Monetary Authority of Singapore’s S$5 billion programme to boost Singapore Exchange-listed stocks. Helen Wong, Group CEO of OCBC, emphasised the strategic nature of the integration, noting the potential to unlock further opportunities in institutional equities and high net worth client spaces.

Following the integration, customers will continue trading as usual, with no changes to their existing services or platforms.
“`

Family-owned businesses in Singapore are encountering significant challenges in succession planning, according to HSBC’s latest report, “Family-owned businesses in Asia: Harmony through succession planning 2025”. The report highlights the critical gaps in succession strategies that could impact the long-term sustainability of these enterprises.

The report, which examines family-owned businesses across Asia, reveals that many Singaporean businesses lack formal succession plans. This oversight poses a risk to their continuity and growth. HSBC’s findings suggest that whilst family businesses are a vital part of Singapore’s economy, contributing significantly to employment and GDP, their future is uncertain without structured succession planning.

HSBC’s report underscores the importance of addressing these gaps to ensure the longevity of family-owned enterprises. It suggests that businesses should prioritise developing comprehensive succession plans that include clear leadership transitions and governance structures. The report also emphasises the need for open communication within families to facilitate smoother transitions.

“Succession planning is not just about choosing a successor; it’s about ensuring the business can thrive for generations,” the report states. This insight is crucial as family-owned businesses in Singapore navigate the complexities of leadership transitions amidst evolving market conditions.

As Singapore continues to position itself as a hub for entrepreneurship and innovation, the findings from HSBC’s report highlight the urgent need for family-owned businesses to adopt robust succession strategies. This will not only safeguard their legacy but also contribute to the broader economic stability of the region.
“`

Singlife, a leading financial services company, has introduced Singlife Legacy Invest, a new investment-linked plan (ILP) that allows customers to tailor their coverage duration and premium payment terms. This plan offers coverage terms of 10, 15, 20, or 25 years, with payment options ranging from a lump-sum to regular payments over 3, 5, or 10 years. Customers can also extend coverage to age 100, providing flexibility for retirement or legacy planning.

The plan is designed to maximise investment growth by featuring monthly charges for a fixed period without insurance charges for death and terminal illness coverage. It includes bonuses such as a welcome bonus, special booster, loyalty bonus, and maturity bonus to enhance investment returns. Helen Shen, Group Head of Products at Singlife, stated, “Singlife Legacy Invest offers a refreshing approach to investment-linked plans, empowering customers to choose their premium payment terms and coverage duration to align with their financial goals.”

Additional features of Singlife Legacy Invest include the option to invest in Singapore Dollars or US Dollars, penalty-free partial withdrawals for key life events, and regular withdrawal options to support retirement income. The plan also provides coverage against death and terminal illness and allows for policy continuity by designating a secondary life assured.

Singlife Legacy Invest aims to support customers in growing their wealth and building a lasting legacy, offering access to a diverse selection of funds, including those typically reserved for accredited investors. This new offering underscores Singlife’s commitment to providing flexible financial solutions tailored to individual needs.
“`

The Allianz Partners Travel Index has revealed that over 90% of Singaporeans intend to travel in the coming year, despite the rising cost of living impacting travel budgets. The survey, which included over 500 Singaporean adults, highlighted that 73% of those not planning to travel cited cost as the main barrier.

Singaporeans are prioritising rest and relaxation, with 74% planning holidays focused on resorts and wellness. Cultural experiences and adventure are also popular, with 50% and 43% of respondents respectively planning trips for these purposes. Most travellers are expected to spend between $1,200 and over $3,000 per trip, with those aged 50 and above more likely to spend over $3,000.

Travel insurance is a significant consideration, with 87% of Singaporeans planning to purchase it. Concerns such as personal safety, illness, and flight cancellations are driving this trend. The main reasons for buying travel insurance include covering unforeseen events (73%) and ensuring peace of mind (68%).

Social media and word of mouth play a crucial role in destination selection, with 67% of Singaporeans influenced by recommendations from family and friends. Platforms like YouTube, Instagram, and Facebook are key sources of inspiration.

Vinay Surana, Managing Director of Asia Pacific, Middle East and Africa at Allianz Partners, noted, “Whilst cost-of-living is front of mind for many Singaporeans, travel intentions remain high, especially for rest and relaxation.” The survey underscores a conscientious approach to travel, with many willing to invest in insurance for peace of mind amidst an unpredictable travel landscape.
“`

Latham & Watkins has advised Partners Group, a leading global private markets firm, on acquiring a controlling interest in Digital Halo, a Singapore-based data centre operator. The acquisition, from existing shareholders including ARCH Capital, aims to transform Digital Halo into a next-generation data centre platform with over 500 megawatts of capacity across multiple Asian markets.

Partners Group, acting on behalf of its clients, plans to invest approximately $400 million alongside ARCH Capital, which will retain a minority stake. The initial phase of this transformation involves constructing and operating two seed assets in Manila, Philippines, and Johor Bahru, Malaysia.

The legal team from Latham & Watkins was led by Singapore corporate partners Michael Rackham and Don Stokes, with support from associates Cher Lin Chin, Ein Le Lim, and Elisabeth Su-Li Ong. Tax advice was provided by London partner Simon Skinner, with associate Thomas O’Malley.

This strategic acquisition underscores Partners Group’s commitment to expanding its footprint in the rapidly growing Southeast Asian data centre market. By enhancing Digital Halo’s infrastructure, the firm aims to meet the increasing demand for data services in the region. The move is expected to bolster Digital Halo’s position as a key player in the industry, with significant implications for the data centre landscape in Asia.
“`

Holistic Way, Singapore’s leading health supplement brand, has unveiled two innovative products aimed at enhancing women’s wellness. The BioElixir Rose Placenta Collagen Shot and Premium Gold BioNMN Women 400mg are designed to support skin radiance and cellular vitality, catering to women at every stage of life.

The BioElixir Rose Placenta Collagen Shot combines Japanese-patented Rose Placenta with hydrolysed fish collagen peptides and botanical extracts. This formulation aims to rejuvenate skin by promoting cell renewal and enhancing elasticity. It includes antioxidants from blood orange, pomegranate, and other extracts to protect against UV damage, whilst vitamins C and B3 boost collagen production.

Meanwhile, the Premium Gold BioNMN Women 400mg supplement addresses the natural decline of NAD, a molecule crucial for cellular energy. Each sachet delivers 400mg of NMN, supporting healthy ageing and cellular repair. The formula also features patented pomegranate extract for enhanced skin support.

Ricky Ong, founder and CEO of JR Life Sciences, stated, “We understand the changing needs of today’s world, and our new products are designed to help people feel their best every day, with a focus on health, vitality, and real results.”

These products are part of Holistic Way’s commitment to celebrating beauty and strength across generations. Available online and in leading pharmacies, they offer essential support for women seeking to maintain confidence and vitality throughout their lives.
“`

Chinese actress Liu Shishi has been named the iQIYI Global Ambassador during a special screening event for the drama “Love in Pavilion” at Marina Bay Sands, Singapore, on 11 May. The event, part of iQIYI’s Starship Project, marked Liu’s first international promotional appearance and was attended by international media, VIPs, and fans. Liu was honoured for her significant contributions to iQIYI and her impact on its global outreach.

The screening featured actors Liu Shishi and Zhang Yunlong, along with special guests Wu Xuanyi and Zhai Xiaowen, who engaged attendees with behind-the-scenes insights and interactive segments exploring Singaporean culture. Li Kaichen, Vice President and Head of APAC and Middle East at iQIYI, presented Liu with her ambassador title, acknowledging her as a high-quality partner.

“Love in Pavilion” has gained international acclaim for its emotional narratives and Eastern visual aesthetics, showcasing Chinese culture. Produced by Stellar Pictures, the series has topped charts in 14 countries and regions, achieving a heat index exceeding 8,900 and a rating of 8.4 on MyDramaList. The drama was simultaneously streamed worldwide, reaching 249 countries and trending on Twitter in Southeast Asia.

The iQIYI Starship Project aims to enhance the global presence of Chinese content through international launches and promotions. Following the success of “Love in Pavilion,” iQIYI plans to release more series, such as “Speed” and “Love,” promising diverse romantic narratives for global audiences.
“`

Addepar, a leading technology and data platform for investment professionals, has successfully closed a $230m Series G funding round, elevating its valuation to $3.25b. The investment round was co-led by Vitruvian Partners, based in London, and New York’s WestCap, with participation from 8VC, Valor Equity Partners, and new investor EDBI, the investment arm of the Singapore Economic Development Board.

The funding will be used to provide liquidity to employees and investors through a tender offer, as well as to accelerate innovation and client capabilities. Addepar, which manages over $7t in client assets, aims to enhance its platform to help clients navigate market volatility with greater precision and insight. The company serves more than 1,200 client firms across 50 countries, making it a leader in wealth and investment management technology.

Eric Poirier, CEO of Addepar, stated, “This investment round reflects the deep trust our investors have in our mission and the exceptional value we consistently deliver to our clients.” The company plans to continue investing over $100m annually in research and development, with a goal of achieving profitability by 2025.

Vitruvian Partners’ Luuk Remmen expressed confidence in Addepar’s future, saying, “We’re proud to bring more than capital to this partnership—offering strategic insight to help accelerate Addepar’s next phase of global growth.” As Addepar expands its global reach, it remains committed to empowering investment professionals with advanced technology and data-driven insights.
“`