Industry News

Singapore’s manufacturing sector saw a 3.9% increase in output in May 2025 compared to the same month last year, according to the Singapore Economic Development Board. Excluding the biomedical sector, the growth was even more pronounced at 4.9%. However, on a seasonally adjusted month-on-month basis, overall manufacturing output dipped slightly by 0.4%, though it rose by 0.7% when excluding biomedical manufacturing.

Transport engineering was the standout performer, with a 25.6% year-on-year increase in May. The aerospace segment, in particular, surged by 43.6%, buoyed by increased production of aircraft parts and a rise in maintenance, repair, and overhaul activities from commercial airlines. The marine and offshore engineering segment also contributed with a 5.3% rise, whilst the land segment saw a decline of 12%.

The precision engineering cluster recorded a 10.3% increase, driven by a 12.3% rise in the machinery and systems segment, which benefited from higher production of semiconductor equipment and measuring devices. The biomedical manufacturing sector grew by 6.1%, with pharmaceuticals leading the way at 17.9% due to higher production of biological products.

Electronics output rose by 3.9%, with significant growth in the infocomms and consumer electronics segment at 42.6%. However, the chemicals sector saw a modest increase of 0.3%, whilst general manufacturing contracted by 8.9%.

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IHH Healthcare, a leading global healthcare provider, has introduced a $5m Research Grant & Innovation Sandbox programme to bolster clinical research and innovation across its international network. The fund, distributed over five years, is designed to empower IHH clinicians and employees to develop groundbreaking ideas that address pressing health issues, with a focus on improving patient experiences and outcomes.

The initial grant call, launched in March, targeted oncology and chronic diseases, two critical areas in global health. From 55 submissions, the Grant Governance Committee, comprising senior management and domain experts, shortlisted seven Research Grant projects and eight Innovation Sandbox applications. These projects are expected to be completed within one to two years, contributing to the broader healthcare literature on these diseases.

The Innovation Sandbox track prioritises projects with clear impacts, such as scalability, cost savings, and enhanced patient outcomes. “The launch of our first Research Grant & Innovation Sandbox marks a pivotal step in our multiyear transformation journey to become a global healthcare leader,” said Dr Prem Kumar Nair, Group CEO of IHH Healthcare. “I am inspired by the ingenuity of our teams and the calibre of ideas they have brought forward.”

IHH Healthcare plans to open its next call for submissions in September, continuing its commitment to fostering internal innovation and shaping the future of healthcare. Through its trusted brands, including Acibadem, Mount Elizabeth, and Gleneagles, IHH aims to deliver comprehensive and personalised care across its key markets.
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Global electronics giant GREE has inaugurated its Singapore office, marking a significant step in its strategy to expand across the Asia-Pacific region. Recognised as the global leader in split air conditioners by Euromonitor International in 2024, GREE is leveraging Singapore’s strategic location to spearhead its regional growth.

GREE’s decision to establish a base in Singapore is part of its broader plan to penetrate ASEAN markets, including Malaysia and Indonesia. The company, which holds the top market share in household air conditioners for 18 consecutive years, aims to use Singapore as a hub for strategic planning, investment, and market research. This move is expected to facilitate the introduction of GREE’s innovative cooling solutions throughout the region.

The Singapore branch will focus on enhancing local service capabilities through a comprehensive service framework, including after-sales support and technical training programmes in collaboration with local educational institutions. GREE’s products, featuring advanced technologies like the Black Fin condenser, are designed to withstand humid climates, making them ideal for Singapore.

GREE’s first product wave in Singapore includes the CHARMO split wall-mounted series and variable refrigerant flow systems, tailored to meet local consumer needs. The company’s commitment to energy efficiency and innovation aligns with Singapore’s high standards, such as the Green Mark Platinum certification.

As GREE continues to expand its footprint in Southeast Asia, the Singapore office will play a crucial role in driving sustainable innovation and enhancing modern living with energy-efficient technologies.
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AsiaPay, a prominent digital payment solutions provider in Asia, has announced a partnership with The Soup Spoon, a Singaporean restaurant chain, to introduce a seamless mobile payment solution across all its outlets. This collaboration aims to modernise the dining experience by streamlining payment transactions and enhancing ordering efficiency through advanced technology.

The integration will allow customers to enjoy faster checkouts via PayDollar, AsiaPay’s secure mobile platform, significantly reducing wait times. The system also promises enhanced security, ensuring that transactions are both fast and secure. Additionally, the partnership is set to improve operational efficiency by automating order-taking and payment processing, which could lead to increased revenue potential through digital menus with smart upselling features.

Joseph Chan, CEO of AsiaPay, stated, “Our mission has always been to provide businesses with innovative, integrated, and secure digital payment solutions. Partnering with The Soup Spoon allows us to extend this capability to the food industry, enhancing both operational efficiency and guest satisfaction.”

Andrew Chan, co-founder and managing director of The Soup Spoon, added, “We’re thrilled to offer more payment options for our diverse range of customers. This aligns with our mission to blend wholesome food with modern technology.”

Founded in 2000, AsiaPay offers a wide range of electronic payment processing solutions and services across the Asia Pacific region. The Soup Spoon, known for its commitment to clean eating, operates over 30 outlets and offers a variety of healthy dining options. This partnership marks a significant step in integrating technology into the dining experience, promising a more efficient and satisfying customer journey.
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Bridge Specialty International has announced the appointment of Chan Hon Kian as Head of Trade Risk at Acorn International Network Pte, a company under Bridge Specialty International, based in Singapore. With over 18 years of experience in credit insurance, Chan will officially take on his new role on 1 July, bringing expertise from his previous roles with leading international brokers in Singapore.

Simon Barker, Executive Director for Asia at Bridge Specialty International, expressed confidence in Chan’s capabilities, stating, “Chan Hon Kian is a highly skilled and experienced practitioner in the trade risk and credit sector. His experience will greatly enhance our vision of providing trade risk and structured credit solutions in the Asia region, complementing our credit and political risk capabilities in London.”

Acorn International Network, acquired by Bridge Specialty International in October 2024, is a licenced insurance broker regulated by the Monetary Authority of Singapore. Established in April 2011, Acorn offers risk-management solutions and insurance brokerage services to corporates, SMEs, and high-net-worth customers. The firm collaborates with various insurers and retail brokers, including Lloyd’s syndicates in Singapore, providing access to both general and specialised insurance solutions.

Chan’s appointment underscores Bridge Specialty International’s commitment to strengthening its presence in the Asian market and delivering exceptional value through industry-leading talent. As Head of Trade Risk, Chan is expected to drive business growth in the sector and expand into related speciality lines, further enhancing the company’s offerings in the region.
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Nanyang Technological University, Singapore (NTU Singapore) has collaborated with AI provider CloudMile to enhance its student virtual assistant, Lyon Bot, using Google’s Gemini large language model. This upgrade aims to deliver faster and more accurate responses to student enquiries, particularly regarding accommodation, thereby streamlining administrative tasks and saving the university over 14 days of manual work each month.

The original Lyon Bot, introduced in 2020, was built on Google Dialogflow Essentials to assist nearly 6,000 freshers with enrolment. However, it faced challenges in adapting to evolving student needs, requiring extensive manual data tagging and updates. The new Generative AI-powered system, developed with CloudMile’s expertise, employs multi-layer processing to improve conversational accuracy and response speed, significantly reducing error rates.

Alvin Ong, Chief Information Officer of NTU, noted, “With the new AI-powered chatbot, we are currently saving around 14.5 days’ worth of work every month. This allows our staff to focus on tasks that require human insight and creativity.”

CloudMile’s Managing Director for Southeast Asia, Jeremy Heng, highlighted the company’s role in the transformation, stating, “The transformation of NTU’s Lyon Bot is a testament to our commitment to enhancing human-computer interaction through AI.”

This collaboration underscores CloudMile’s capabilities in Generative AI application and data governance, as well as its proficiency in delivering complex international projects. The partnership not only enhances NTU’s operational efficiency but also sets a precedent for future AI-driven innovations in educational institutions.
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Singapore’s National Day Parade (NDP) 2025 promises a spectacular celebration of the nation’s 60 years of independence, inspired by the National Anthem. The event will feature a diverse array of performances, including music, dance, and fireworks, with over 3,000 performers involved. Creative Director Boo Junfeng, directing for the third time, emphasised the show’s inspiration from the anthem, describing it as a “prayer” for the nation’s future.

The parade will unfold in four acts, each highlighting different aspects of Singapore’s identity and aspirations. The first act, “Our People, Our Diversity,” celebrates the nation’s multicultural tapestry. The second act, “Our Future, Our Aspirations,” encourages reflection on personal and collective dreams. The third act, “Our Resilience, Our Spirit,” focuses on the community’s enduring strength, whilst the final act, “Our Unity, Our Strength,” embodies the theme “Majulah Singapura,” urging unity in shaping the nation’s future.

A standout feature of this year’s parade is the 360-degree centre stage, the largest mobile stage in NDP history, measuring 15 metres in diameter and rising to seven metres in height. This innovative stage design aims to enhance the audience’s experience by bringing performers closer.

For the first time, the live show will extend from the Padang to Marina Bay, incorporating water floats and a mobile floating stage. This expansion allows more Singaporeans to participate in the celebrations, with synchronised performances and fireworks creating an immersive experience.

Additionally, eight unique floats designed by artists with disabilities will be showcased, symbolising inclusivity and creativity. Colonel Edwin Chua, Chairman of the Show Committee, expressed hope that the parade will inspire Singaporeans to reconnect with their roots and envision the nation’s future.

Further details about NDP 2025 can be found on the event’s social media platforms and official website.
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Timah Partners, a Singapore-based permanent holding company, has announced the successful closure of a $50m Series A funding round aimed at addressing the succession crisis facing small and medium-sized enterprises (SMEs) in Southeast Asia. The funding round was supported by prominent investors, including founders of iconic holding companies and veteran investors from top-tier investment firms. Timah Partners, founded by Dennis Chua, focuses on acquiring and operating essential recurring B2B SMEs and developing future leaders through its CEO-in-Training programme.

The company aims to provide a long-term home for retiring founders’ businesses, differing from traditional private equity models by not buying with the intent to sell. “We’re not buying to flip,” said Dennis Chua, Founder and CEO. “We acquire businesses to operate and grow them over decades with no pressure to sell.”

Timah Partners targets high-quality recurring B2B businesses with an EBITDA range of $2m to $10m, offering full exits and long-term operational stewardship. The firm emphasises preserving the legacy of acquired businesses rather than overhauling them.

Central to Timah’s strategy is its CEO-in-Training programme, which aims to develop entrepreneurial leaders ready to take on C-suite roles within its portfolio companies. This initiative is inspired by similar programmes from Alpine Investors and Shore Capital. “Singapore’s SME succession problem isn’t just about ownership—it’s about leadership,” Chua noted.

With the ageing population in Southeast Asia and a lack of formal succession plans among SME owners, Timah Partners’ approach offers a sustainable solution to ensure the continuity and growth of these businesses. Applications for the first cohort of the CEO-in-Training programme are now open, signalling a new era of leadership development in the region.
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Sentosa GrillFest 2025 is set to transform Siloso Beach into a vibrant culinary and social hub from 17 July to 10 August. This year’s festival will feature a record 39 food and beverage brands across five zones, alongside new experiences such as GrillHouse and Marketplace. In a novel collaboration with Offline Singapore, the festival will host GrillHouse Social Mixer Nights, aiming to foster connections among 160 participants through food and social activities.

The GrillHouse experience allows guests to become grill masters for the evening, using premium ingredients and the Ninja Foodi Smart XL Grill. The Aburi Bar will offer live flame-torched seafood, whilst meat enthusiasts can enjoy wood-fire roasted delicacies. Marketplace will showcase fresh, locally farmed produce, with interactive stations where chefs prepare dishes on the spot.

Sustainability is a key focus, with efforts to reduce waste and increase accessibility. The event will feature compostable packaging, recycling stations, and wheelchair-friendly seating. Guests bringing reusable items can redeem a $5 voucher, promoting eco-friendly practices.

The festival promises a diverse culinary journey, from international flavours like Jamaican jerk chicken to local favourites. Admission is free, inviting all to enjoy the festivities and culinary delights at Siloso Beach.
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Singapore’s National Day Parade (NDP) 2025 promises a captivating audiovisual spectacle, drawing inspiration from the National Anthem to evoke a sense of belonging, unity, and hope. The event will feature 39 artistes and over 3,000 performers, celebrating the nation’s 60 years of independence with a narrative that reflects the collective journey of Singaporeans.

The show is divided into four acts, each highlighting different aspects of Singapore’s identity and aspirations. The first act, “Our People, Our Diversity,” showcases the vibrant tapestry of Singapore’s society through music, dance, and fireworks. The second act, “Our Future, Our Aspirations,” encourages reflection on personal dreams and collective goals. The third act, “Our Resilience, Our Spirit,” focuses on resilience and community spirit, whilst the final act, “Our Unity, Our Strength,” embodies the NDP 2025 theme “Majulah Singapura.”

Creative Director Boo Junfeng, directing the show for the third time, stated, “This year’s Show is inspired by our National Anthem, which composer, Zubir Said had once said it was written as a prayer.”

The show will feature homegrown music talents, with songs like “Makin’ Our Way” by Benjamin Kheng and the theme song “Here We Are” by Charlie Lim and Chok Kerong. A 360-degree centre stage, the largest in NDP history, will enhance the immersive experience for audiences at the Padang.

For the first time, the live show will extend from the Padang to Marina Bay, incorporating water floats and a mobile floating stage. Eight unique floats designed by artists with disabilities will also be featured, symbolising inclusivity and creativity.

Colonel Edwin Chua, Chairman of the Show Committee, expressed hope that the show will inspire Singaporeans to reconnect with their roots and envision the future. More details can be found on NDP’s social media and official website.
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