Industry News

Stellar Ace, a subsidiary of SMRT, is set to transform Singapore’s transit network into a dynamic advertising and retail hub by 2025.

Under the leadership of Tony Heng, the company aims to integrate offline and online experiences, enhancing the commuter journey with cutting-edge digital solutions.

This initiative follows the Land Transport Authority’s (LTA) 2022 announcement of a 10-year contract for advertising spaces across 120 pedestrian overhead bridges, underpasses, and covered linkways.

Stellar Ace’s vision, aligned with SMRT’s “Moving people, enhancing lifestyles” ethos, focuses on creating an interactive brand experience.

The company is installing anamorphic digital screens at high-traffic MRT stations like Raffles Place, City Hall, and Orchard, offering real-time advertising opportunities. “It’s no longer just about placing static ads in high-traffic areas but enhancing the commuter experience,” Heng stated.

The company is also embracing innovative formats such as the 3D Ad Crown, which incorporates dynamic 3D elements into traditional bus shelters, providing a unique platform for brands. This approach aims to engage commuters in new ways and transform daily journeys into immersive experiences.

Stellar Ace is leveraging AI and machine learning to enhance audience targeting and ROI measurement, addressing challenges faced by marketers in out-of-home (OOH) advertising. Deputy Managing Director Tjhin Poi Chung highlighted the use of digital data to provide precise audience targeting and real-time campaign tracking, ensuring campaigns reach the right audience.

The company’s WINK app further extends its reach, offering a mobile-first platform for advertisers and enhancing the physical OOH experience. As digitalisation reshapes the industry, Stellar Ace’s tech-driven approach positions it at the forefront of the evolving advertising landscape.

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Marina Bay Sands’ Paiza Collection has been awarded the prestigious Forbes Travel Guide Five-Star rating, marking a significant milestone for the luxury resort

This accolade, announced on 12 February 2025, recognises the Paiza Collection’s exceptional service and luxurious offerings since its full rollout to VIP guests in November 2024.

The Forbes Travel Guide, a global authority on luxury hospitality, evaluates hotels, restaurants, and spas based on over 900 stringent standards. The Paiza Collection joins an elite group of only four hotels in Singapore and 1,548 globally to receive this honour.

Tane Picken, Senior Vice President and Chief Hospitality Officer of Marina Bay Sands, expressed pride in the achievement, stating, “This is a nod towards our significant commitment to the future of luxury hospitality.”

The Paiza Collection, located on the highest floors of Marina Bay Sands, offers a range of exclusive suites, including the Horizon Suite and Chairman Suite, catering to diverse guest needs. Guests are treated to a seamless experience from arrival to departure, with a fleet of luxury vehicles and a dedicated team of 160 butlers ensuring personalised service.

The accolade also highlights Marina Bay Sands’ vibrant dining scene, with Waku Ghin retaining its Five-Star status and other renowned restaurants like CUT by Wolfgang Puck maintaining their Four-Star ratings. Amanda Frasier, President of Standards & Ratings at Forbes Travel Guide, commended the property, noting its consistent excellence over 11 years and welcoming The Paiza Collection as a new Five-Star award winner.

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CrimsonLogic, a global technology company, has partnered with BDO Singapore to develop a new Generative AI (GenAI) advisory platform called “AskBDO”.

This collaboration aims to provide domain-specific insights for professionals in the legal, tax, and finance sectors, addressing common AI challenges such as data inaccuracies and privacy concerns.

The “AskBDO” platform combines CrimsonLogic’s technological expertise with BDO’s industry-specific knowledge to deliver precise and reliable responses to complex queries.

This innovation is designed to enhance decision-making processes and reduce errors, allowing professionals to focus on tasks requiring human expertise. Lawrence Ng, CEO of CrimsonLogic, stated, “Together, we are not just developing a tool, but shaping the future of how businesses leverage AI for strategic decision-making and operational excellence.”

The platform utilises curated knowledge bases and offers robust customisation capabilities, enabling users to tailor topics and knowledge bases to their needs. It also ensures data security by maintaining separate knowledge bases for public and private data. Frankie Chia, Managing Partner at BDO Singapore, highlighted the platform’s potential, saying, “AskBDO will empower our professionals with enhanced access to specialised knowledge and domain expertise.”

This partnership marks a significant step in the adoption of GenAI across industries, setting a new standard for professional advisory services. As the platform evolves, it is expected to offer clients faster, more accurate insights, furthering the digital transformation of advisory services.

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AIA Singapore has announced its collaboration with the newly launched Rainforest Wild Asia at Mandai Wildlife Reserve, becoming the naming sponsor of the AIA Vitality Bounce and supporting the Tapir habitat.

This initiative aligns with AIA’s commitment to community engagement, wildlife conservation, and promoting healthier lifestyles, as part of its AIA One Billion initiative aimed at empowering one billion people to live healthier lives by 2030.

The Rainforest Wild Asia officially opens on 12 March, offering visitors a chance to explore the AIA Vitality Bounce—a high-element net playground designed to encourage physical activity and social interaction amidst nature.

Additionally, the AIA-sponsored Tapir habitat will house two Malayan tapirs, providing an educational experience about these unique creatures and highlighting AIA Singapore’s dedication to wildlife conservation.

AIA Singapore’s CEO, Ms Wong Sze Keed, expressed enthusiasm about the partnership, stating, “In our increasingly digital world, taking time to immerse ourselves in nature is more important than ever.

We hope that through this initiative, we provide everyone with a space to disconnect, cultivate deeper relationships with nature and loved ones, and to be inspired to protect our wildlife.”

AIA employees and insurance representatives will have an exclusive preview of Rainforest Wild Asia on 1 March, offering a unique team-building opportunity.

From 12 March, AIA customers can enjoy discounted admission tickets during selected periods, with further details available on the AIA app and social media channels. This sponsorship underscores AIA Singapore’s ongoing investment in fostering healthier lifestyles and its commitment to creating a positive social and environmental impact.

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CBRE has announced the sale of a prime restaurant-approved strata unit located in the basement of Bukit Timah Plaza, Singapore. The unit, which boasts a 20-metre wide frontage and a total strata area of approximately 3,391 square feet, is fully leased, providing immediate rental income for potential buyers.

The sale is being conducted through an Expression of Interest exercise, closing on 19 March 2025 at 3pm.

The unit is strategically positioned next to the entrance of Fairprice Finest, one of the mall’s anchor tenants, enhancing its visibility and potential for high shopper traffic.

Clemence Lee, executive director of Capital Markets at CBRE, highlighted the appeal of suburban retail units, stating, “Prime suburban retail units continue to be an attractive investment asset class for investors, especially those that come with F&B approval.”

Previously listed at S$11m in Q3 2022, the unit’s price has been reduced by approximately 12% to S$9.8m, translating to S$2,890 per square foot. This pricing aligns with recent transactions in the same area of the plaza. Notably, the sale is open to foreign buyers without the imposition of Additional Buyer’s Stamp Duty or Seller’s Stamp Duty.

Bukit Timah Plaza, completed in 1979, is a mixed-use development featuring a retail block and residential units. It is well-connected via major roads and public transport, with nearby MRT stations and bus services. The area is also undergoing significant development, including new projects and a planned integrated development, promising strong rental and capital appreciation prospects for investors.

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Etiqa Insurance Singapore has embraced the spirit of Chinese New Year by launching the ‘Multiply Blessings With You’ campaign, in collaboration with independent creative agency Blak Labs.

From 22 January to 5 February, the initiative saw Etiqa’s God of Fortune making surprise visits to food centres across Singapore, distributing festive red packets, mandarin oranges, and complimentary meals to diners and hawker stall owners.

The campaign aimed to foster community spirit and generosity during the festive season. Carine Chin, Head of Corporate Marketing at Etiqa Insurance Singapore, stated, “At Etiqa, we believe that prosperity goes beyond financial security—it is about fostering meaningful connections, uplifting communities, and sharing joy.”

The initiative was well-received both in person and online, with social media content amplifying the excitement surrounding each appearance of the God of Fortune. Koh Hwee Peng, Creative Partner at Blak Labs, expressed satisfaction with the campaign’s impact, noting, “Their ‘With You’ spirit this festive season truly shines, spreading smiles and good fortune throughout the community.”

Etiqa Insurance Pte Ltd, a life and general insurance company licensed by the Monetary Authority of Singapore, has been serving customers since 1961. The company is part of the Etiqa Insurance Group, a leading provider in ASEAN, and is owned by Maybank Ageas Holdings Berhad.

The ‘Multiply Blessings With You’ campaign highlights Etiqa’s commitment to community engagement and the true essence of Chinese New Year—kindness, generosity, and togetherness.

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The Singapore strata commercial market experienced varied outcomes in the second half of 2024, with strata office sales showing improvement whilst the retail sector faced challenges. Knight Frank Singapore’s Executive Director, Mary Sai, highlighted that both strata office and retail units offer niche opportunities for business occupiers and non-institutional investors.

The strata office market concluded 2024 with 325 units sold, amounting to a total sales value of $1.1m, a slight year-on-year decline of 2.6%. However, on a half-yearly basis, sales value increased by 50.3% to $686.6m in H2 2024. Notable transactions included the sale of a unit at Solitaire on Cecil for $55.2m. The Downtown Core, Rochor, and Orchard areas saw the highest sales volumes.

In contrast, the strata retail market saw a 1.3% decline in total sales value to $214.8m, with 115 deals closed in H2 2024. The average unit price rose by 6.8% to $3,010 psf. Most transactions were under $4m, indicating interest from smaller business owners and investors.

Looking ahead, the strata office market is expected to remain stable, with a projected transaction value of about $1b for 2025. However, the retail sector may continue to face challenges due to inflationary pressures and a strong Singapore Dollar, with sales expected to range between $400m and $500m in 2025.

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Life Science Incubator (LSI) has unveiled Singapore’s largest co-working laboratory at Elementum, a premier life sciences complex within one-north.

The launch event, officiated by Senior Minister of State Low Yen Ling, marked a significant expansion for LSI, which has tripled its lab space to accommodate the increasing demand for high-quality laboratory environments.

This new facility aims to support startups, entrepreneurs, and multinational firms in scaling their operations.

Located in JTC’s one-north business park, the state-of-the-art laboratory offers a range of flexible lab and office solutions, including open lab spaces, private suites, and tailored lab solutions. “Our mission at LSI is to remove barriers for life sciences startups and innovators by providing the critical infrastructure they need to accelerate breakthroughs,” said Zeïna Henni, Director of LSI.

Singapore continues to be a leading destination for biotech investment, with $28b allocated in 2024 under the Research, Innovation and Enterprise 2025 plan.

This investment reinforces Singapore’s status as a top biotech hub in Southeast Asia. John Ratcliffe, CIO of Altea Investments, highlighted the importance of the new facility, stating, “This co-working laboratory will provide the critical space and resources needed for startups, researchers, and global firms to accelerate advancements in biotechnology and medical innovation.”

Looking ahead, LSI plans to expand into the broader Asia-Pacific region, with Australia as its next key market. This move is part of LSI’s strategy to leverage its established relationships within Australia’s life sciences sector, aiming to launch its first location there later this year.

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Western Australia has emerged as the leading destination for Singaporean travellers, experiencing a remarkable 19% growth in visitors from June 2023 to June 2024.

With 99,000 Singaporean tourists during this period, the region has solidified its position as the largest Asia-Pacific market and the second-largest global market for Western Australia.

Family travel has seen a significant surge, with 35,000 family visitors recorded in June 2024, marking a 106% increase from the previous year.

This growth has boosted Western Australia’s share of Singaporean visitors to Australia from 27% to 29%. Additionally, solo travel has gained popularity, with 35% of Singaporean visitors travelling alone, a 4% increase year-on-year (YoY).

Singaporeans spent $233m in Western Australia in the year ending June 2024, accounting for 21% of their total expenditure in Australia. Ava Ang, Country Head for Tourism Western Australia, Singapore & Malaysia, stated, “Western Australia offers a unique combination of world-class natural beauty, immersive cultural experiences, and opportunities for rejuvenation, which resonate deeply with travellers from Singapore.”

Looking forward to 2025, key travel trends include wellness retreats, multi-generational travel, and off-the-beaten-path adventures. Broome is becoming a favourite destination, with Jetstar Asia launching direct flights from Singapore to meet demand.

Activities such as whale watching, pearl farm tours, and Aboriginal cultural experiences are drawing Singaporean tourists seeking unique adventures.

Western Australia’s diverse offerings continue to attract Singaporean travellers, reinforcing its status as the top Australian destination for this market.

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Cornerstone, a Singapore-based independent financial advisory, has launched CyberFender, a pioneering cyber insurance solution tailored for small-to-medium enterprises (SMEs) in Singapore.

This initiative comes as a response to the alarming statistic that 73% of Asia-Pacific SMEs experienced cybersecurity incidents in 2023, with inadequate security measures cited in 44% of cases.

CyberFender, developed in collaboration with global insurer QBE and cybersecurity firm ESET, aims to provide a robust digital safety net for these businesses.

CyberFender offers extensive coverage to safeguard critical business assets against threats such as data breaches, business interruptions, and cyber extortion. It also covers incident response and recovery costs, thus providing both financial and operational protection.

Leonard Tan, Managing Director of Cornerstone, stated, “We recognise that recovery from cyber-attacks can be costly and challenging for SMEs. This is why we partnered with QBE and ESET to deliver robust, easy-to-use cyber defence solutions.”

The importance of such a solution is underscored by QBE Singapore’s survey, which revealed a rise in businesses without cyber risk protection from 9% in 2023 to 19% in 2024.

Moreover, ESET’s report highlighted that one in four cybersecurity incidents involved ransomware. Ronak Shah, CEO of QBE Singapore, emphasised the necessity of addressing SMEs’ needs in the current cyber risk landscape.

CyberFender is now available through Cornerstone’s financial advisors, offering SMEs a vital tool to mitigate cyber risks and maintain customer trust.

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