Industry News

Tesla has officially opened its new Experience Centre at Westgate, Singapore, as of 20 June 2025. This latest addition aims to bring Tesla’s innovative technology closer to Singaporeans, featuring test drives of the Model 3 and New Model Y, as well as demonstrations of the Tesla Bot, Optimus. The centre is located at #01-29A Westgate.

The expansion also includes a new Tesla Supercharging station, set to open in Q3 2025 at Westgate’s Basement 3. This will increase the total number of Supercharging stations in Singapore to 13, providing a crucial charging point for those travelling to Malaysia. The Westgate location will thus offer a comprehensive Tesla vehicle ecosystem.

Tesla’s Model 3 continues to lead as Singapore’s best-selling saloon, with a 43% increase in registered vehicles compared to the previous year. A record-breaking 461 New Model Y vehicles have been delivered in 2025. Tesla Singapore is committed to sustainable transport, offering Singapore-exclusive models engineered for Category A Certificate of Entitlement (CoE). The Model 3 starts at $186,526, and the New Model Y at $201,600, based on the 18 June 2025 CoE bidding exercise.

To encourage electric vehicle adoption, Tesla offers competitive financing rates, allowing customers to own a Tesla with monthly instalments starting at $1,437. This initiative underscores Tesla’s dedication to promoting sustainable transportation in Singapore.
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JTC has announced the awarding of the tender for the industrial site at Plot 3 Jalan Papan to CK Toh Construction Pte Ltd. The tender, which closed on 22 April 2025, attracted three bids, with CK Toh Construction securing the site for a tendered sum of $5.39 million.

The awarded land parcel, located at Plot 3 Jalan Papan, is zoned for Business 2 use and spans an area of 71,994 square metres. The site comes with a 20-year tenure and a gross plot ratio of 1.4, with a project completion period set at 60 months.

This development is significant as it reflects ongoing industrial growth and infrastructure development in Singapore. The strategic location and zoning of the site are expected to support various business activities, contributing to the economic landscape.

The tender process, launched on 25 February 2025, highlights the competitive interest in Singapore’s industrial real estate sector. The successful bid by CK Toh Construction underscores the company’s commitment to expanding its footprint in the industrial domain.

As the project progresses, it is anticipated to bring about job opportunities and bolster the local economy. The completion of this project will likely enhance the industrial capabilities of the region, aligning with Singapore’s broader economic objectives.
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Grand Copthorne Waterfront Hotel Singapore has launched a pioneering Wedding Butler service, marking a first for the city. This complimentary service, included with all wedding packages, aims to alleviate stress and enhance the wedding experience for couples by providing a single point of contact for all their needs. The service will officially debut at the hotel’s “Where Forever Begins” Wedding Show on 28 June.

The Wedding Butler acts as a dedicated liaison, assisting with everything from final outfit changes to coordinating with hotel departments, ensuring a seamless experience from pre-arrival to the final toast. Andrew Tan, General Manager of Grand Copthorne Waterfront, stated, “Our Wedding Butler service exemplifies our G.R.A.N.D. service philosophy — with a special focus on bespoke attention and unforgettable moments.”

The service begins three days before the couple’s arrival, confirming final details and preferences, and continues with personal touchpoints to ensure every element is in place. On the wedding day, the Wedding Butler coordinates with key hotel departments, focusing on anticipating needs and resolving last-minute issues.

The launch of this service underscores the hotel’s ambition to become a premier wedding destination, addressing the common challenge of stress and complexity in wedding planning. Jacky Zhang, General Manager from Blissful Brides, noted, “Couples today seek more than just a beautiful venue—they want meaningful experiences and personal attention.”

During the “Where Forever Begins” Wedding Show, couples can enjoy exclusive perks and participate in a lucky draw for prizes, including a 1 carat lab-grown diamond ring. The event will also feature romantic boat arrivals and consultations with featured vendors, offering a comprehensive wedding planning experience.
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OCBC Group has announced a significant financial commitment to the Johor-Singapore Special Economic Zone (JS-SEZ), having already allocated over RM11b to businesses in Johor since early last year. The Group plans to inject at least another RM3 billion by the end of 2025, targeting sectors such as real estate, oil and gas, manufacturing, and data centres. This announcement was made during a visit by OCBC’s CEO, Helen Wong, and other senior executives to Johor Menteri Besar Dato’ Onn Hafiz bin Ghazi.

The Group’s “One Group” approach, which integrates the strengths of OCBC Bank, Great Eastern Holdings, Bank of Singapore, and other subsidiaries, positions it uniquely to bolster business growth and cross-border collaboration. Wong highlighted OCBC’s historical ties to Johor, with its first branch established in 1917, and its current network of eight branches in the state.

Dato’ Onn Hafiz expressed gratitude for OCBC’s unwavering support, stating, “The Group’s commitment of over RM11 billion in financing with at least RM3 billion more by year-end reflects a strong endorsement of Johor’s economic direction and investment potential.”

OCBC has been proactive in showcasing the JS-SEZ’s potential to global investors, facilitating the entry of new companies across various sectors. Tan Chor Sen, CEO of OCBC Bank (Malaysia) Berhad, noted the bank’s efforts in connecting businesses with growth opportunities, particularly leveraging its presence in Greater China.

The initiative aims to transform the border region between Johor and Singapore into a premier economic hub, with OCBC playing a pivotal role in this strategic development.
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The Singapore Exhibition and Convention Bureau (SECB) and the Japan External Trade Organisation (JETRO) Singapore have signed a three-year Memorandum of Cooperation (MoC) to stimulate growth in business events and strengthen economic ties between Singapore and Japan. This partnership, announced on 20 June 2025, aims to reinforce Singapore’s status as a leading destination for Meetings, Incentive, Conferences and Exhibitions (MICE) whilst enhancing trade relations between the two nations.

The global MICE industry is projected to grow at a compound annual growth rate of 7.2% from 2024 to 2032, with the Asia-Pacific region expected to lead this expansion. Singapore, leveraging its strengths in innovation, trust, and safety, alongside JETRO’s connections with Japanese industry leaders, seeks to capitalise on this trend by fostering new business opportunities across the region.

The MoC was signed at ‘The Dream Sphere’, Singapore’s Pavilion at Expo 2025 Osaka, Kansai, Japan. This collaboration aims to bridge Japan’s diverse economy with Singapore’s MICE capabilities, enabling events to expand their international reach and fostering meaningful collaborations. The agreement also focuses on elevating MICE standards through knowledge sharing in sustainability, productivity, and digital innovation.

Poh Chi Chuan, Executive Director of SECB, stated, “This first-of-its-kind collaboration with JETRO marks a major milestone in leveraging partnerships to accelerate MICE growth.” Junji Kurokawa, Managing Director for JETRO, added, “We aim to build an even stronger win-win relationship between our two countries.”

This partnership is expected to bolster business cooperation and resilience, expanding market opportunities in both countries amidst global economic uncertainties.
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Singapore is set to host auditions for the popular reality series, Midlife Sing & Shine!, for the first time. Co-produced by Gateway Entertainment and Television Broadcast Limited International (TVBI), the show seeks to discover singing talents aged 35 and above. Auditions will be held at Gateway Theatre at the end of July, offering participants the opportunity to perform before celebrity judges from Singapore and Hong Kong.

The series, which has gained popularity in Hong Kong, aims to inspire individuals to pursue their dreams beyond the traditional work routine. Successful contestants will represent Singapore on an international stage in Hong Kong, competing alongside participants from countries such as Australia, New Zealand, and Malaysia.

Applications are open until 6 July 2025, with eligible contestants being notified by 19 July. The auditions will feature four live rounds in a single day, where participants will share their personal stories and aspirations. The event promises to be a platform for heartfelt performances and inspiring narratives.

Gateway Entertainment, known for its commitment to creating meaningful experiences, is excited to bring this opportunity to Singapore. The company, which also manages Gateway Theatre, has been a significant contributor to the local arts scene through various productions and social initiatives. This collaboration with TVBI marks another milestone in their mission to enrich the cultural landscape of Singapore.
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Singtel, one of Singapore’s leading telecommunications companies, is projected to see its core value rise by 180% over the next few years, according to a recent DBS Group Research report. The anticipated growth is attributed to a 10% compound annual growth rate (CAGR) in earnings from the financial year 2025 to 2028, with significant contributions from Optus, NCS, and data centre operations.

Despite a 62% increase in Singtel’s associate value since 2017, the company’s stock has remained flat due to an 80% decline in its core value in Singapore and Australia. However, analysts are optimistic about a turnaround, expecting a price-to-earnings re-rating from 6.6 times to 18.5 times.

The report recommends a “BUY” rating for Singtel, with a target price of $3.35 (S$4.58). It suggests that the market is likely to reward Singtel for its efforts to enhance its core business. Potential catalysts for this growth include increased investment in core operations and possible consolidation within Singapore.

Singtel’s strategic focus on strengthening its core sectors is seen as a pivotal move to regain investor confidence and drive future growth. The company’s ability to leverage its key business areas is expected to play a crucial role in achieving the projected increase in core value.
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Asian travellers are capitalising on long weekends by choosing regional destinations, according to digital travel platform Singapore-based Agoda. The company reported an 80% month-on-month increase in accommodation searches from Malaysia, Indonesia, and Singapore ahead of the Eid long weekend, with popular destinations including Japan, Thailand, China, South Korea, and Taiwan. This trend highlights a significant opportunity for hoteliers to capture the rising demand for short stays within the Asia Pacific (APAC) region.

Agoda’s data also revealed similar patterns during other regional holidays, such as the Songkran festival in Thailand, where Hong Kong, Osaka, Shanghai, and Seoul were top choices. In Vietnam, during the Liberation Day and Labour Day long weekend, Bangkok, Singapore, Tokyo, and Seoul were the most searched destinations. Andrew Smith, Senior Vice President of Supply at Agoda, emphasised the importance for hotels to use data to target consumers effectively and tailor services to regional tastes.

To maximise revenue, hotels are encouraged to offer packages catering to long weekend stays and micro-vacations. Strategies include content marketing, launching long weekend packages, and promoting ancillary items like late checkouts and complimentary breakfasts. Additionally, with Asia’s wellness tourism market projected to reach $156.85 billion this year, hoteliers can attract high-value guests by offering wellness and immersive local packages.

Agoda, headquartered in Singapore, offers a wide range of travel options, including over 5 million holiday properties and more than 130,000 flight routes, providing endless possibilities for travellers seeking memorable experiences.
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Skechers has celebrated the grand reopening of its flagship store at Bugis Junction, Singapore, on 18 June 2025. The store, now over 4,112 square feet, more than doubles its original size and showcases a sleek design with deep navy and bold fuchsia accents. The event was highlighted by the presence of K-pop icon MINNIE from i-dle, who joined Cedrick Tan, President of Skechers Southeast Asia, Hong Kong, and South Korea, for the official unveiling.

The reopening event featured several key highlights, including a private walkthrough with MINNIE, where she explored Skechers’ latest product innovations and retail concept. A vibrant fashion showcase at the Bugis Square Outdoor Atrium displayed Skechers’ footwear and apparel range. Additionally, an engaging Q&A session with MINNIE, hosted by Hazelle Teo, provided fans with exclusive insights.

The new flagship store offers Skechers’ latest collections, such as Court Classics, Skechers Street Shadow Collection, Pickleball, and Performance Technical Running. A standout feature is the SafeSize technology, which provides personalised footwear recommendations, enhancing the shopping experience.

Located at #02-11 Bugis Junction, the store joins Skechers’ Jewel Changi Airport location as a key retail destination in Singapore. The event also included interactive activities like a Skechers charms bar for sneaker personalisation and a themed photo booth experience, offering fans and contest winners exclusive experiences with MINNIE.
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OMS Energy Technologies Inc., a manufacturer of surface wellhead systems and oil country tubular goods, has announced significant operational achievements following its Nasdaq debut in May 2025. The company has secured new contracts in Angola and renewed agreements in Thailand, marking Southeast Asia as a key region for customer acquisition. CEO How Meng Hock highlighted the company’s robust operational foundation and commitment to innovation and financial management.

The company has expanded its presence in West Africa by entering the Angolan market, securing a contract with Grupo Simples Oil. In Indonesia, OMS’s marketing efforts have attracted new customers, including PT Seleraya Belida and Pertamina Hulu Sanga Sanga. A new three-year agreement with PTTEP in Thailand further stabilises OMS’s revenue base, whilst a 10-year supply agreement with Saudi Aramco is expected to generate $120m to $200m annually.

OMS’s geographic footprint spans the Asia Pacific and MENA regions, with 11 manufacturing facilities across six countries. The company is enhancing its talent pool by hiring locally and participating in government tenders, boosting its competitive edge. OMS’s $11m investment in additive manufacturing research aims to advance its product development, particularly in high-pressure, high-temperature gate valves.

Safety and environmental management remain priorities, with OMS maintaining ISO certifications across its sites. The company is also exploring growth through acquisitions and strategic alliances, aiming for sustainable long-term development. OMS’s collaboration with Singapore‘s Agency for Science, Technology and Research underscores its commitment to environmental sustainability and innovation.
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