Industry News

National Day Parade 2025 (NDP 2025) is set to transform Marina Bay into a vibrant celebration zone as Singapore marks its 60th year of independence. Scheduled for 2 and 9 August 2025, the Bay Celebrations will include interactive experiences, carnival festivities, and live NDP screenings, offering Singaporeans more opportunities to connect and celebrate together.

Visitors can explore the Bay Discovery Trail, which links three thematic zones highlighting Singapore’s multiculturalism, inclusivity, and heritage. The first 5,000 participants completing the trail each day will receive an NDP Pack. Performances by local talents, such as 11-year-old violinist Anastasha Suchin and the Singapore Institute of Technology’s Vocalist Insight, will enhance the festivities. Additionally, a diverse food market and the nostalgic Uncle Ringo carnival will provide family-friendly entertainment.

As night falls, the Bay will become a grand amphitheatre with live NDP screenings at Merlion Park, Marina Bay Sands Event Plaza, and the Esplanade Outdoor Theatre. For the first time, synchronised audio systems and Bay Emcees will create an immersive experience. Highlights include the State Flag Flypast and the inaugural Jump of Unity by the Republic of Singapore Navy’s naval divers. The spectacle will be complemented by building light projections, fireworks, and performances on a new floating stage.

The celebrations will extend to five partner-led sites, including The Promontory and Gardens by the Bay, each offering unique experiences. The event will culminate in a nationwide Majulah Moment, uniting Singaporeans in reciting the pledge and singing the National Anthem.

With an expected attendance of 200,000 visitors, the NDP 2025 Executive Committee, alongside the Singapore Police Force, will implement crowd management and security measures. Volunteers from Heartware Network and motivators from the Singapore University of Social Sciences will ensure a safe and enjoyable experience. For more details, visit the NDP website or follow their social media channels.
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The Competition and Consumer Commission of Singapore (CCCS) will expand its regulatory functions starting 1 July 2025, following the enactment of the Competition (Amendment) Act 2025. This expansion involves the transfer of consumer product safety and legal metrology functions from Enterprise Singapore to CCCS, marking a significant enhancement in consumer protection oversight.

With this transfer, the Consumer Product Safety Office and the Weights and Measures Office will now report to CCCS. This consolidation aims to strengthen the agency’s regulatory oversight, allowing businesses and consumers to approach CCCS for issues related to fair trading practices, consumer product safety, and compliance with weights and measures.

The integration of these functions under CCCS underscores its mission to ensure Singapore’s markets operate effectively. By enforcing safety standards and accurate measurements, CCCS aims to foster robust competition, benefiting both businesses and consumers. Alvin Koh, Chief Executive of CCCS, stated, “This consolidation marks a significant milestone in strengthening Singapore’s consumer protection framework.”

To ensure a seamless transition, CCCS and Enterprise Singapore are collaborating to minimise service disruptions. Existing regulatory requirements and certificates will remain valid under CCCS’s authority, and businesses are expected to maintain compliance throughout the transition.

For continued access to services, the public and businesses can visit the respective websites of the Consumer Product Safety Office and the Weights and Measures Office. CCCS will also provide a hotline for general enquiries post-transfer.
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The Monetary Authority of Singapore (MAS) has announced that Singapore will renew its loan commitment to the International Monetary Fund’s (IMF) New Arrangements to Borrow (NAB), extending it until 31 December 2030. This move aims to bolster the IMF’s capacity to maintain global economic and financial stability, with a maximum commitment of Special Drawing Rights (SDR) 1,297.1 million, equivalent to US$1,762.8m.

Singapore has been a participant in the NAB since its inception in 1998. The renewed commitment involves contingent loans to the IMF, which will only be drawn upon if the IMF’s other resources are significantly depleted. Importantly, these loans do not impact the Singapore Government’s budget or reduce the Official Foreign Reserves (OFR) managed by MAS. Instead, they remain part of Singapore’s OFR unless the commitment is activated.

The NAB serves as a secondary line of defence for the IMF, supplementing its resources when available quota resources are insufficient to meet member countries’ financial support demands. The SDR, an international reserve asset created by the IMF, underpins this arrangement, drawing on a basket of major international currencies.

This renewal underscores Singapore’s ongoing commitment to supporting multilateral efforts in safeguarding global financial stability. As the world continues to navigate economic uncertainties, such commitments are crucial in ensuring the IMF can respond effectively to financial crises.
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The Federal Reserve is anticipated to implement two interest rate cuts in the fourth quarter of 2025, following signs of mild inflation and a weakening job market. This development is expected to benefit Singapore’s Real Estate Investment Trusts (REITs), which remain resilient due to their stable cash flows and long lease tenures.

Core inflation rates have shown stability, with the Core Consumer Price Index (CPI) excluding food and energy prices holding at 2.8% year-on-year in May 2025. Similarly, the Core Personal Consumption Expenditures (PCE) inflation was mild at 2.5% year-on-year in April 2025. Despite the negative impact of reciprocal tariffs, inflation has remained tame, with prices for apparel and new vehicles falling slightly.

The job market has shown nascent signs of weakness, with the unemployment rate rising modestly to 4.2% in May 2025. Hiring rates have decreased, and layoffs have increased significantly due to uncertainties caused by tariffs. This has led to calls for lower interest rates, with Fed officials suggesting potential rate cuts as early as July.

Singapore’s REITs are seen as a defensive investment, benefiting from the country’s low reciprocal tariff of 10%. Analysts have raised target prices for several S-REITs, including CapLand Int Comm Trust (CICT) and Frasers Centrepoint Trust (FCT), due to anticipated lower interest rates. The sector’s resilience is further supported by its negative correlation with major indices like the S&P 500, indicating potential gains even amidst broader market declines.

As global growth faces headwinds from military conflicts and trade uncertainties, the expected easing of interest rates could provide a boost to S-REITs, making them an attractive option for investors seeking stability and potential returns.
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IFS Asset Management (IFSAM), part of the PhillipCapital Group, has unveiled its second private credit fund aimed at bolstering small and medium enterprises (SMEs) in Singapore and the wider region. The fund, anchored by IFS Capital Limited, focuses on senior secured lending backed by real estate, offering accredited and institutional investors access to stable income and capital preservation.

The initiative seeks to address the persistent funding gap faced by creditworthy SMEs that are often overlooked by traditional financial institutions. Charis Liau, Chief Investment Officer of IFSAM, noted, “Private credit has traditionally been an opaque and difficult-to-access asset class. We’re now seeing it evolve from niche to a core component in diversified portfolios.”

The Asia-Pacific private credit market remains significantly underpenetrated, presenting strong growth potential. Non-bank lending constitutes less than 15% of Asia’s $58 trillion credit market, compared to over 60% in the US. Moreover, the SME sector, which makes up 98% of businesses in Asia, continues to grapple with a $2.5 trillion financing gap.

Randy Sim, Group CEO of IFS Capital Limited, emphasised the fund’s mission to mobilise private capital for SME growth and resilience, stating, “The fund advances this mission by mobilising new sources of private capital to support the growth and resilience of SME businesses, not just in good times, but throughout business cycles.”

Globally, private credit is gaining traction, with assets under management projected to reach $2.6 trillion by 2029. In Singapore, the demand for SME financing remains robust, with private credit strategies offering attractive risk-adjusted returns and portfolio diversification.
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Microsoft has announced the launch of pre-orders for its latest Surface Pro, 12-inch, and Surface Laptop, 13-inch models in Singapore. These new additions to the AI-powered Copilot+ PC family are available for reservation from 1 July, ahead of their general release on 15 July 2025. The devices, built on the Snapdragon X Plus processor, promise enhanced productivity, long battery life, and sleek portability, starting at $880 (S$1,199).

The Surface Laptop, 13-inch, is the thinnest and lightest in its series, boasting a 50% performance boost over its predecessor, the Surface Laptop 5. It offers up to 23 hours of video playback and features a vibrant full HD touchscreen. The Surface Pro, 12-inch, maintains its versatile 2-in-1 design, with a detachable keyboard and a lightweight build of 680 grammes. Both devices incorporate sustainability-led designs, using recycled materials in their construction.

Paige Shi, Channel Sales Leader at Microsoft Asia, stated, “The new Surface Laptop, 13-inch and Surface Pro, 12-inch are our smartest, fastest, and most portable devices yet. Designed for those who value performance and flexibility, they deliver all-day battery life, built-in AI experiences, and inclusive features that adapt to how people live, learn, and work.”

Pre-order promotions include a complimentary Surface Pro Keyboard with the Surface Pro and a Surface Arc Mouse with the Surface Laptop. These offers are valid from 1–14 July 2025, whilst stocks last. The devices are available through the Microsoft Official Store and authorised retailers such as Harvey Norman and Best Denki.
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Moneythor, a Singapore-based personalisation platform for banks, has unveiled its AI Suite designed to enhance customer engagement through ‘Deep Banking’. This new platform enables banks to deliver highly personalised and proactive experiences, akin to popular technology and media apps, by leveraging AI capabilities. The suite is already being utilised by regional leaders such as DBS, Trust Bank, and Standard Chartered.

The AI Suite addresses a significant challenge in the banking sector—differentiating services in a market where the average consumer holds multiple bank accounts. According to Martin Frick, CEO of Moneythor, the suite’s AI capabilities are essential for delivering hyper-personalised and anticipatory banking experiences. “Specific, built-for-purpose AI is fundamental to the delivery of deep banking experiences,” he stated.

The suite allows banks to intuitively develop and adapt personalised customer content in real-time by integrating with Large Language Models (LLM), without the need for separate training. This innovation is expected to reduce customer churn and increase engagement, addressing the issue that 15% of newly opened accounts remain dormant after three months.

Moneythor’s AI suite is seen as a vital tool for banks in Singapore, where maintaining customer engagement is crucial due to the prevalence of multiple bank accounts per individual. The launch of this suite is a strategic move to transform customer experiences into more engaging and familiar formats, akin to consumer or lifestyle apps. As customer expectations continue to rise, Moneythor’s AI suite offers a timely solution to meet these demands.
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UniFuels Holdings Limited, a global provider of marine fuel solutions headquartered in Singapore, has announced the opening of a new office in Shanghai. This move is part of the company’s strategic expansion across Asia, following the establishment of an office in Dubai in April. The Shanghai office, located in Lujiazui, positions UniFuels to meet the increasing demand for sustainable marine fuel solutions in the region.

Shanghai, home to the world’s busiest container port, is a crucial maritime hub. Alan Tan, Senior Vice President Commercial of UniFuels, highlighted the company’s commitment to being present where its customers and suppliers operate. “With this new office, we walk the talk of putting our customers first by leveraging expertise, enhanced operational reach, and greater service responsiveness to better serve them,” he stated.

The local team in Shanghai is equipped with a deep understanding of the Asian market, allowing UniFuels to respond swiftly to customer needs and market dynamics. The proximity to suppliers facilitates quicker problem-solving and supports regional sourcing strategies, enhancing supply chain resilience. Customers can expect an expanded range of customer-centric solutions, improved operational support, and a broader supply network.

UniFuels’ presence in Shanghai also provides access to real-time intelligence on fuel supply dynamics, regulatory changes, and emerging demand trends, essential for efficient fuel procurement. As part of its ongoing expansion plan, UniFuels is strengthening regional partnerships and access in key marine fuel hubs, aiming to shape sustainable bunkering solutions for the maritime sector.
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Kumiai Navigation, a Japanese shipowner based in Singapore, has secured financing from the Development Bank of Japan (DBJ) for its LPG dual-fuel carrier, CRYSTAL ODYSSEY, under the Zero-Emission Accelerating Ship Finance programme. The initiative, jointly operated by DBJ and ClassNK, aims to support the maritime industry’s transition to decarbonisation by evaluating ships on their environmental performance and innovation.

The CRYSTAL ODYSSEY, built by Kawasaki Heavy Industries, is designed to reduce carbon dioxide emissions by approximately 15% compared to conventional fuel oil. It is also equipped to use ammonia fuel in the future, making it an ‘ammonia-fuel-ready ship’. The vessel’s compliance with the International Maritime Organisation’s (IMO) Tier III NOx and SOx regulations is ensured through the installation of an exhaust gas recirculation system and a selective catalytic reduction system.

ClassNK’s evaluation awarded the vessel an ‘S’ rating, the highest in the programme, recognising its exceptional decarbonisation and environmental performance. This rating acknowledges the significant investments made by Kumiai Navigation in environmentally friendly technologies.

The programme’s expansion is part of DBJ and ClassNK’s broader efforts to accelerate the maritime industry’s shift towards sustainable practices. By providing financial and evaluative support, they aim to facilitate the adoption of low- and zero-emission technologies across the sector.
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Ogier Global has announced the appointment of Samantha Fu as director in its Singapore office, enhancing its corporate governance capabilities for offshore investment funds. Samantha, an expert in governance solutions, will oversee a wide range of funds including hedge funds, private equity funds, and segregated portfolio companies. Her appointment is expected to bolster Ogier Global’s presence in the region.

Samantha’s career spans roles as an independent fund director with global professional services firms, providing governance solutions in the Cayman Islands, British Virgin Islands, and Singapore. She began her career in portfolio management for ultra-high net worth clients and was a founding team member at a private equity firm, focusing on investment strategy and regulatory licensing.

Holding an MBA and a Bachelor of Science in Economics, Samantha is a certified fund director and a member of several professional associations, including the Singapore Institute of Directors and 100 Women in Finance. Her expertise covers corporate services, investment funds, and private wealth governance.

Tervinder Chal, Managing Director of Ogier Global in Singapore, expressed enthusiasm about the appointment: “Samantha is a well-qualified and talented addition to the Ogier Global team, and we’re pleased to welcome her. I look forward to seeing Ogier Global continue to excel and grow in the region with the addition of her expertise.”

Ogier Global’s Singapore team operates independently from Ogier’s law firm, collaborating with professional services firms and legal advisers across industries such as investment funds, private wealth, and corporate law.
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