Regional News

The Chinatown Mid-Autumn Festival 2025 in Singapore is set to celebrate 60 years of heritage, progress, and togetherness with a vibrant array of activities from 7 September to 20 October. Organised by the Chinatown Festival Committee, the event will feature captivating street light-ups, cultural programmes, and community activities, reflecting Singapore’s multiculturalism and progress since independence.

The festival’s theme, “60 Glorious Years Celebrating Mid-Autumn in Singapore,” underscores the nation’s journey and unity. The Official Street Light-Up and Opening Ceremony will be held on 18 September at Kreta Ayer Square, officiated by Josephine Teo, Minister for Digital Development and Information, alongside other advisers. Teo remarked, “It is heartening to see Chinatown’s streets lit with joy and meaning.”

A striking 8-metre-tall centrepiece featuring the number 60, rabbits, mooncakes, and orchids will be a focal point, symbolising resilience and progress. The festival will also include a canopy of lotus flowers and fans on New Bridge Road and Eu Tong Sen Street, and glowing moon palaces on Upper Cross Street.

Beyond the light displays, the festival will host a range of activities, including a festive fair, a lantern design competition, and a mass lantern walk. These events aim to engage both locals and visitors, offering an immersive experience of Singapore’s rich traditions. The festival concludes on 20 October, inviting everyone to partake in the celebrations and reflect on the nation’s journey.
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Suntec REIT has announced a favourable ruling from the Australian tax authorities, allowing it to continue benefiting from a concessionary withholding tax rate. This development is expected to enhance the real estate investment trust’s distribution per unit (DPU) by approximately 4% in the first half of 2025, RHB said in a note. The announcement comes amidst a backdrop of declining domestic interest rates, which have reduced Suntec REIT’s finance costs by 6% during the same period.

The tax concession is a significant advantage for Suntec REIT, which is already trading at a substantial 35% discount to its book value. This discount, combined with the high-quality nature of its portfolio, positions Suntec REIT as a potential candidate for mergers and acquisitions or internalisation. The RHB’s analyst, Vijay Natarajan, has reiterated a “BUY” recommendation, raising the target price from SGD1.35 to SGD1.48, indicating a 13% upside potential.

The strategic positioning of Suntec REIT, coupled with the recent tax ruling, underscores its potential for growth and stability in the current market. The trust’s ability to maintain a competitive edge through financial efficiencies and strategic tax advantages highlights its resilience and attractiveness to investors. As the market continues to evolve, Suntec REIT’s proactive measures and robust portfolio are likely to sustain its performance and investor interest.
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LexisNexis Risk Solutions, in partnership with the Singapore FinTech Association, has released a White Paper exploring the evolving landscape of cross-border payments in the Asia-Pacific (APAC) region. The document identifies key opportunities and strategies to achieve a seamless payments ecosystem, focusing on regulatory challenges and technological advancements.

The White Paper reveals that 77% of surveyed organisations prefer API-based validation systems to enhance payment processing efficiency. Additionally, 67% of respondents emphasise the importance of real-time payment data validation at the customer input stage to prevent errors and reduce operational costs. Speed remains a top priority for customers, with 33% of organisations ranking it as their primary concern.

Regulatory compliance emerges as the most significant challenge, cited by 31% of participants. The paper stresses the need for harmonised regulatory frameworks to address complexities and reduce compliance costs. It also highlights the transformative potential of technologies such as blockchain, central bank digital currencies (CBDCs), and mobile payments, whilst cautioning that their adoption must be carefully managed to mitigate risks.

The White Paper outlines eight strategic pillars aimed at addressing fragmented systems, regulatory complexities, and promoting financial inclusion. These insights provide a roadmap for industry stakeholders to navigate the dynamic cross-border payments landscape in APAC.

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Singapore is reaffirming its role as a global energy hub amidst the challenges of transitioning to a low-carbon economy, as highlighted by Senior Minister of State for Trade and Industry, Low Yen Ling, at the Asia Pacific Petroleum Conference (APPEC) 2025. The event, held on 8 September, attracted over 1,200 delegates from 46 countries, marking it as the most attended edition to date.

The conference’s theme, “Navigating Trade, Technology and Transition,” underscores the current turbulence in the global energy sector, driven by geopolitical tensions and the shift towards sustainable energy. Low emphasised Singapore’s commitment to supporting companies through the “3Ts”—Trade, Technology, and Transition.

In the realm of trade, Singapore remains a preferred hub, with energy trade growing from $1.44 trillion (US$1.44 trillion) to $1.67 trillion (US$1.67 trillion) between 2023 and 2024. The city-state also welcomed six new firms into its Global Traders Programme, including Yulong Petrochemical.

Technology is reshaping the industry, with firms incorporating artificial intelligence (AI) into operations. Enterprise Singapore supports these advancements, exemplified by BHP Group Limited’s establishment of a regional AI hub in May 2025. Additionally, AI Singapore’s 100 Experiments initiative aids firms like Four Elements Capital in leveraging machine learning for trading insights.

As Singapore transitions to a low-carbon future, it is expanding its production of sustainable products and biofuels. The city-state hosts the world’s largest sustainable aviation fuel facility and is developing alternative maritime fuels, with ammonia expected to play a significant role by 2050.

The conference highlighted Singapore’s strategic position in carbon services and trading, with over 150 firms now operating in this sector. Major players like Shell and BP have established local carbon trading teams, reinforcing Singapore’s leadership in the energy transition.
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BRC Asia, a steel mesh manufacturer, has been upgraded to a “Buy” rating by UOB Kay Hian, with a new target price of S$4.69, reflecting a 15.8% upside. This upgrade follows BRC Asia’s strategic acquisition of a 55% stake in Southern Steel Mesh, expanding its footprint in Malaysia and enhancing its regional presence. The company, which holds a dominant 55-60% market share in Singapore, is poised to benefit from increased construction activity and a robust orderbook.

BRC Asia’s recent acquisition of Southern Steel Mesh, which operates four manufacturing plants in Malaysia, provides a strategic foothold in the region. This move diversifies BRC’s revenue streams and enhances its scale in Southeast Asia. The acquisition aligns with the company’s strategy to upgrade operations and compete with other leading steel manufacturers.

The company’s record S$2b orderbook, bolstered by major contracts such as the Changi Airport Terminal 5 project, provides strong earnings visibility over the next few years. This orderbook is 35% higher than BRC’s FY24 revenue and is expected to be completed within three years, aligning with the ongoing construction upcycle.

Singapore’s construction sector is experiencing significant growth, with a 5.5% year-on-year expansion in Q1 2025. This growth is driven by public and private sector projects, including major infrastructure spending and a robust housing pipeline. The government’s allocation of S$19.6b for infrastructure in Budget 2025 further supports this trend.

BRC Asia’s strong market position, coupled with its strategic expansion and robust orderbook, positions it well for sustained growth. The company’s FY26 dividend yield of 5.3% adds to its attractiveness for investors.
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The Monetary Authority of Singapore (MAS) has announced that the Green Investments Partnership (GIP), a blended finance fund under the Financing Asia’s Transition Partnership (FAST-P) initiative, has achieved its first close with US$510 million in committed capital. This capital, sourced from a mix of global and regional private, public, and philanthropic institutions, will be channelled into green and sustainable infrastructure projects across Southeast and South Asia.

The GIP is supported by a diverse group of investors, including the Australian Government, International Finance Corporation, Dutch Entrepreneurial Development Bank, HSBC, Temasek, and British International Investment. The European Commission also backs the initiative through its Global Gateway programme. Pentagreen Capital, a platform established by HSBC and Temasek, will manage the fund, focusing on sectors such as renewable energy, electric vehicle infrastructure, and sustainable transport.

Launched in 2023, FAST-P aims to address the climate finance gap in Asia by leveraging innovative blended and tiered capital structures. The initiative seeks to de-risk infrastructure investments, thereby attracting international investors to projects that have traditionally been seen as risky. Gillian Tan, MAS’s Assistant Managing Director, highlighted the significance of this milestone, stating, “Pentagreen has brought together a diverse group of partners to de-risk and finance marginally bankable green infrastructure projects in the region.”

The FAST-P initiative includes two other partnerships: the Industrial Transformation infrastructure debt programme and the Energy Transition Acceleration Finance partnership, both of which aim to further support Asia’s green transition.
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The International Union of Marine Insurance (IUMI) Conference returned to Singapore on 8 September 2025, after more than two decades, highlighting the city’s pivotal role in the maritime industry. The event, themed “Charting Opportunities in Changing Tides,” addressed the sector’s response to geopolitical shifts, technological advancements, and the green transition.

The maritime industry faces significant challenges due to geopolitical developments, such as the US tariffs altering global supply chains, and technological advancements, including artificial intelligence and autonomous operations, which introduce new cybersecurity risks. Additionally, the adoption of alternative fuels like ammonia and methanol is reshaping risk profiles, necessitating new handling and operational models.

Marine insurance remains crucial in navigating these changes, providing a safety net for vessels, crew, and cargo. It enables the industry to manage emerging risks and seize new opportunities. Singapore’s marine insurance community has shown resilience, with firms like the West of England Protection and Indemnity Club and Skuld Singapore expanding their services.

Singapore is also enhancing its marine insurance capabilities through initiatives like the Singapore War Risks Mutual (SWRM) and the Maritime Cyber Security Maturity Scorecard. These efforts aim to address geopolitical and cybersecurity risks, respectively. The Maritime and Port Authority of Singapore (MPA) is developing national standards for alternative fuels to support the green transition.

Local talent development is a priority, with MPA collaborating with educational institutions to nurture future marine insurance experts. The upcoming IUMI Cargo Masterclass in Singapore will further bolster skills and networking opportunities in the region.

As the maritime landscape evolves, collaboration among industry stakeholders will be essential to navigate complexities and harness opportunities, ensuring a sustainable future for the sector.
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The Competition and Consumer Commission of Singapore (CCCS) is inviting public feedback on the proposed acquisition of Econ Healthcare (Asia) Limited by TPG Inc. The consultation period, which began on 8 September, will run until 19 September. CCCS is assessing whether the transaction could potentially harm competition within the eldercare sector in Singapore.

TPG, a global investment firm with a presence in Singapore, submitted an application to CCCS on 29 August. The firm, through its Invest Healthcare Group, operates Orange Valley nursing homes and provides non-residential care services in Singapore. Econ Healthcare, meanwhile, operates eight medicare centres and nursing homes across Singapore, China, and Malaysia.

The overlap between TPG’s Invest Healthcare Group and Econ Healthcare in both residential and non-residential care services is a focal point of the consultation. CCCS is particularly interested in understanding how this acquisition might affect competition in these markets.

Public feedback can be submitted via the CCCS online form or by email, with the option to provide non-confidential versions of submissions if necessary. More details about the consultation process are available on the CCCS website.

The outcome of this consultation could have significant implications for the eldercare market in Singapore, potentially influencing service availability and pricing for consumers.
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Franklin Templeton has announced that its first Evergreen Private Equity Secondaries Strategy, co-managed with Lexington Partners, has exceeded US$1.2 billion in assets under management. This achievement follows the strategy’s successful launch earlier this year, highlighting strong international demand for private equity secondaries in an evergreen structure. The strategy has attracted investors from regions including Asia Pacific, Europe, the Middle East, Africa, Canada, and Latin America.

Tariq Ahmad, Head of Asia Pacific, noted the significant growth in private market funds in the Asia Pacific region, driven by wealth managers and their clients seeking flexible, long-term investment solutions. “With private markets expected to exceed US$277 billion in assets by the end of 2028, wealth managers are uniquely positioned to harness this momentum,” Ahmad stated.

The strategy is designed for accredited investors and wealth channel clients, offering greater transparency, accessibility, and potential for earlier liquidity. Christian Bucaro, Head of Wealth, Asia, emphasised the collaboration between Lexington’s expertise and Franklin Templeton’s global scale, stating, “We have created a differentiated evergreen strategy that opens up high-quality private market opportunities to wealth investors worldwide.”

The strategy’s launch coincided with a pivotal moment in private equity, as investors sought to navigate allocations across sub-strategies. The availability of evergreen funds has expanded the investment landscape, offering benefits such as flexibility and periodic redemptions. Secondaries, with their portfolio diversification and enhanced liquidity management, are particularly well-suited for evergreen structures.

Franklin Templeton’s Asia Wealth Management team supports distribution partners across Asia, extending beyond traditional investment offerings to include a diverse range of alternative asset capabilities.
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Dengue infection can ‘re-programme’ the immune system, leaving a lasting genetic imprint that influences future responses to infections, according to a study by Duke-NUS Medical School. This discovery, published in the journal Med, highlights why vaccines are more effective in individuals with prior dengue infections and suggests pathways for developing safer vaccines.

Dengue, a mosquito-borne virus, affects millions annually in tropical regions. The study found that those previously infected with dengue displayed distinct gene activity patterns in immune cells, unlike those who were only vaccinated. Dr Eugenia Ong, the study’s first author, noted, “Our findings show that natural dengue infection can leave a lasting genetic imprint on the immune system.”

The research involved a clinical trial with 26 US volunteers and 50 from Singapore, comparing immune responses between those with and without prior dengue infections. The study revealed that prior infection led to a stronger immune response to the first vaccine dose. Professor Ooi Eng Eong explained, “The immune system only gets a real workout from the full game—the equivalent of a natural infection.”

This genetic imprinting, also seen in diseases like malaria, suggests that the type and intensity of infection are crucial. Professor Patrick Tan emphasised the study’s significance, stating, “These insights are vital not only for developing better vaccines but also for guiding global and national health policies.”

The findings aim to encourage further research into immune reprogramming and its implications for other infections and vaccines, potentially shaping future health policies on dengue vaccination.
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