Regional News

Chandra Asri Group, a leading energy and infrastructure company in Southeast Asia, has announced its acquisition of ExxonMobil’s Esso-branded retail service stations in Singapore. This strategic move, facilitated through a special purpose vehicle under its wholly-owned subsidiary, marks Chandra Asri’s entry into Singapore’s fuel retail market. The acquisition is part of the company’s long-term strategy to establish an integrated energy infrastructure in Singapore and the broader Southeast Asian region.

The President Director and CEO of Chandra Asri Group, Erwin Ciputra, emphasised the significance of this expansion, stating, “Our expansion into Singapore’s retail fuels ecosystem represents a strategic step in shaping an integrated platform for regional growth.” He highlighted Singapore’s robust fuel retail network as a compelling foundation for Chandra Asri’s ambitions to become a transformative leader in energy, manufacturing, and infrastructure solutions in the region.

Chandra Asri will continue to operate under the Esso brand and will purchase branded fuels from ExxonMobil. The company has assured that all customer loyalty points and cards will remain unchanged, and it will retain the existing ExxonMobil staff to ensure seamless continuity for customers and partners.

The transaction is pending regulatory approval and is expected to be completed by the end of 2025. This acquisition underscores Chandra Asri’s commitment to enhancing Singapore’s operational agility, energy resilience, and competitiveness as a leading regional energy hub.

Allianz Malaysia Berhad, through its corporate social responsibility arm Allianz4Good, has launched the P-hailing Bikers Safety & Emergency Survival Programme aimed at enhancing the safety of riders from foodpanda and Lalamove. Conducted by the Road Safety Marshal Club, the training took place at MISAR Academy, Kampung Pandan, on 17 July and 23 August 2025.

The four-hour training session focused on improving riders’ emergency response skills and promoting safer riding behaviours. Participants learnt about personal bike inspection, helmet and PPE selection, visibility awareness, and defensive riding techniques. The programme also covered accident recovery, bike lifting, and emergency first aid.

This initiative reflects Allianz Malaysia’s commitment to rider safety, as highlighted at the Allianz Malaysia Media Forum 2025. Ng Siew Gek, Head of Allianz4Good, stated, “Riders are on the road all day; their exposure to road accident risk is real. This Programme provides riders with practical skills to prevent crashes and to respond in the first critical minutes during emergencies.”

Shubham Saran, Director of Operations at foodpanda Malaysia, emphasised the importance of such programmes, saying they provide meaningful support beyond daily operations. Jane Teh, Managing Director of Lalamove Malaysia, added that the collaboration equips riders with vital skills for safer road navigation.

By partnering with leading p-hailing platforms, Allianz Malaysia aims to foster safer deliveries and communities, ensuring riders are better prepared for the challenges they face on the road.

MetaComp, a Singapore-based cross-border payment and digital assets infrastructure provider, has announced a strategic partnership with First Digital Group to integrate the First Digital USD (FDUSD) stablecoin into its StableX platform. This collaboration aims to accelerate the adoption of FDUSD for cross-border payments, digital wealth management, and Web3 trading applications.

The partnership seeks to create a seamless blockchain-powered infrastructure that supports multijurisdictional value transfer and expands accessibility across traditional and crypto assets. By integrating FDUSD into StableX, MetaComp will provide institutional access for over-the-counter solutions and compliant cross-border payments across key regions, including Asia-Pacific, the Middle East, Africa, Central and Eastern Europe, and South America.

The integration will enable clients to convert non-USD fiat currencies to and from FDUSD, enhancing secure and efficient cross-border fund movements. Additionally, the collaboration will strengthen compliance efforts around anti-money laundering and counter-terrorism financing through MetaComp’s VisionX Engine, a tool that integrates multiple on-chain analysis tools with enhanced risk measurement algorithms.

Tin Pei Ling, Co-President of MetaComp, stated, “By integrating FDUSD into our ecosystem, we are unlocking greater ability to move value across borders faster, more affordably, and interoperably whilst in compliance with regulatory standards.” Vincent Chok, Founder and Group CEO of First Digital, added, “Our shared goal is to build an inclusive financial bridge that supports real-world payments and asset management.”

The rollout of FDUSD integration into StableX will begin in Southeast Asia and Africa, with plans to expand to additional markets. Both companies are committed to regulatory engagement and user-centric innovation in delivering scalable digital asset solutions globally.

Singapore LNG Corporation (SLNG) has commenced construction of a new Floating Storage and Regasification Unit (FSRU) for its second Liquefied Natural Gas (LNG) terminal. The steel cutting ceremony, held at Hanwha Ocean Shipyard in Geoje, South Korea, marks a pivotal step in bolstering Singapore’s energy infrastructure. The FSRU is designed to operate for up to 25 years without dry docking, a first in the industry, and will significantly contribute to meeting the nation’s growing energy demands.

The FSRU will boast a storage capacity of 204,000 cubic metres and a regasification capacity of 5 million tonnes per annum (MTPA), enough to power approximately 6 million four-room HDB flats annually. The vessel will measure 299 metres in length, 51 metres in width, and 55 metres in height, with living quarters for up to 45 crew members. It incorporates advanced digital technologies for operational efficiency and predictive maintenance, ensuring compliance and peak performance without the need for shipyard visits.

SLNG’s CEO, Leong Wei Hung, highlighted the project’s significance, stating that it will “strengthen Singapore’s energy security and support the nation’s increasing energy needs.” The FSRU is expected to be operational by the end of the decade, further advancing Singapore’s ambition to become a regional LNG hub.

Singapore’s private residential market showed remarkable resilience in the third quarter of 2025, with a significant rise in property sales and prices. According to the Urban Redevelopment Authority (URA), the property price index increased by 0.9% in Q3, slightly down from the 1% growth in Q2 but still ahead of the 0.8% rise in Q1. Year-to-date, prices have grown by 2.7%, outpacing the 1.6% increase during the same period in 2024.

The sales volume of private homes, both non-landed and landed, excluding executive condominiums (EC), rebounded strongly by 44.4%, with 7,404 units sold in Q3 2025. This marks the highest third-quarter performance in four years, surpassing previous years’ figures. The surge was primarily driven by new home sales, which soared by over 171.3% quarter-on-quarter, thanks to an increase in new project launches offering a variety of housing options.

Despite numerous new home launches, demand for resale homes remained robust, with a 6.4% increase in resale volume from Q2 to Q3. The trend was evident across all market segments, including the Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR).

Rental prices also rose modestly, with a 1.2% increase in Q3, marking the first time in nine quarters that rental prices exceeded a 1% rise. The private rental market faces challenges due to global economic uncertainties, but overall rental prices are expected to climb by up to 3% for the year.

Looking ahead, several new launches are planned before the year-end, with developers keen to capitalise on the positive sales momentum. Easing borrowing costs, following a recent interest rate cut by the US Federal Reserve, are expected to further boost housing affordability and investor confidence. Overall market prices are projected to rise by 3.5% to 4.5% for 2025, with total sales forecasted to reach around 24,000 to 26,000 units, excluding ECs.

Singapore’s industrial property market continues to show resilience, with the JTC All Industrial Rental Index rising by 0.5% quarter-on-quarter (q-o-q) in Q3 2025, marking the 20th consecutive quarter of rental increases. According to CBRE Research, led by Tricia Song, the warehouse segment saw a notable 0.9% q-o-q rent increase, driven by strong demand from third-party logistics firms and a rise in occupancy to 89.6%.

The single-user factory segment experienced a 0.7% q-o-q rent increase, with occupancy slightly up to 89.1%. Meanwhile, multi-user factories saw a more modest 0.4% q-o-q rent rise, with occupancy remaining stable. The business park segment, however, recorded a 0.2% q-o-q dip in rents, reflecting a two-tiered market where newer facilities in City Fringe locations outperformed older assets.

On the pricing front, the JTC All-Industrial Price Index increased by 0.6% q-o-q, with single-user factory prices rising by 2.1%. The financing landscape in Singapore, characterised by ample liquidity and falling interest rates, has bolstered investor sentiment, making industrial real estate an attractive investment.

Looking ahead, Singapore’s GDP grew by 1.3% q-o-q in Q3 2025, with the manufacturing sector showing signs of recovery. The demand for prime logistics space is expected to remain strong, with modern ramp-up facilities likely to see further rent increases. CBRE Research notes interest in the Johor-Singapore Special Economic Zone as a cost-saving alternative for some occupiers.

Singapore’s core inflation experienced a modest rebound in September, increasing by 0.3% month-on-month, according to a report by UOB Global Economics and Markets Research. This rise marks an improvement from August’s 0.1% increase and suggests early signs of reflation, although it remains too early to draw definitive conclusions. Year-on-year, core inflation edged up to 0.4%, exceeding both Bloomberg’s consensus and UOB’s forecast of 0.2%.

The headline Consumer Price Index (CPI) also saw a stronger rise of 0.4% month-on-month and 0.7% year-on-year, driven primarily by a surge in private transport costs. This increase was attributed to higher car prices following adjustments to vehicle electrification schemes, as noted in a Land Transport Authority press release.

Several components of the core CPI basket, including clothing, health, and transport services, posted notable month-on-month increases. This broad-based rise in prices led to a jump in sequential inflation pervasiveness to approximately 41% in September, up from 33% in August.

UOB has adjusted its core inflation forecast for 2025 to 0.6% and for 2026 to 1.3%, factoring in rising costs associated with the green transition and other administered measures. These include a Sustainable Aviation Fuel levy and a hike in electricity tariffs due to increased carbon taxes.

The Monetary Authority of Singapore (MAS) is expected to maintain its current policy settings, allowing for flexibility in response to growth and inflation risks. The MAS has assessed the recent disinflation as largely supply-driven, with minimal demand contributions, and projects the output gap to remain around 0% in 2026.

Singapore Technologies Engineering Ltd (ST Engineering) has announced securing $4.9b in new contracts during the third quarter of 2025. The contracts span across its Commercial Aerospace, Defence & Public Security, and Urban Solutions & Satcom sectors, bringing the total for the first nine months of the year to $14b.

Commercial Aerospace clinched $1.4b in contracts, highlighting strong demand in Maintenance, Repair & Overhaul (MRO) and Aerostructures & Systems (A&S). Notable deals include a multi-year agreement for Airbus A380 maintenance with a European airline and an A330 passenger-to-freighter conversion order.

Defence & Public Security secured $2.4b in contracts, reflecting high demand for its digital and defence capabilities. Key contracts include the design of earth observation satellites, AI-powered 5G solutions, and cybersecurity systems. The Land Systems business achieved its first 155mm ammunition orders from South America and sold hybrid electric vehicles in Asia. The Marine business, in partnership with Siemens Energy, will deliver a barge-mounted power plant to the Dominican Republic.

Urban Solutions & Satcom won $1.1b in contracts, reinforcing its smart mobility and infrastructure offerings. Projects include rail electronics for Singapore’s Thomson-East Coast Line Extension and intelligent transport systems. The Satcom division secured contracts for ground segment infrastructure across multiple regions.

These contracts are not expected to materially impact ST Engineering’s financial metrics for the current year. The company continues to leverage technology and innovation to address global challenges, maintaining its position as a leading player in the aerospace, defence, and smart city sectors.

Banyan Group is set to celebrate the grand opening of its 100th resort, Mandai Rainforest Resort in Singapore, with the inaugural Rainforest Festival from 27 November to 3 December 2025. The event marks Banyan Group’s debut in Singapore and will feature a variety of activities, with all ticket proceeds donated to the President’s Challenge and matched by the Group.

The festival is the culmination of 100 Journeys, a series of global events celebrating Banyan Group’s milestone. CEO Eddy See expressed that the festival is a symbolic homecoming to Singapore and a testament to the Group’s partnership with Mandai Wildlife Group. “The festival embodies our belief that travel can be a force for good – connecting people with nature, culture, and community,” he said.

Visitors can explore the Discovery Trail, which showcases the resort’s sustainable design and biodiversity. The trail includes interactive installations and the Banyan Gallery Showcase, featuring crafts from around the world. The festival will also host an experiential weekend market and live performances by local artists.

Festival-goers can participate in exclusive wellbeing, nature, and family activities, including yoga sessions and guided nature walks. The Mandai Wildlife Reserve will offer additional paid experiences, with 20% of proceeds also supporting the President’s Challenge.

General admission tickets are priced at $7.30 (S$10) on weekdays and $11 (S$15) on weekends, with free entry for children under four. The festival promises a unique blend of sustainability, culture, and community engagement.

Singapore’s property market experienced a significant boost in the third quarter of 2025, driven by a combination of interest rate cuts, new government cooling measures, and a surge in project launches. The US Federal Reserve’s decision to cut rates in September 2025 led to local borrowing rates dropping below 2%, reducing borrowing costs for buyers. Despite the government’s introduction of stricter cooling measures on 4 July 2025, which included increasing the Seller’s Stamp Duty holding period and rates, the market remained buoyant.

Developers launched nine private residential projects in Q3 2025, releasing over 4,100 units—the highest quarterly figure since Q2 2013. This surge in launches resulted in a 171.3% quarter-on-quarter increase in new sales, with 3,288 units sold, marking the strongest third quarter since 2021. The Core Central Region (CCR) led price gains with a 1.7% increase, outpacing the Rest of Central Region (RCR) and Outside Central Region (OCR).

Among the top-selling projects were Springleaf Residence, River Green, and Promenade Peak. Springleaf Residence, the first high-rise in its estate, sold 881 units, attracting a mix of private property owners and HDB upgraders. River Green’s compact units appealed to buyers seeking affordability in the CCR, whilst Promenade Peak’s larger units indicated a preference for spacious, centrally located homes.

The resale market also saw a 6.4% increase in transactions compared to the previous quarter, with prices rising by 1.4%. The rental market was active, with a 23.8% increase in rental volume quarter-on-quarter, driven by seasonal factors.

Looking ahead, five more launches are expected in Q4 2025, including Faber Residence and Penrith, which have already sold 1,449 units collectively. Huttons Data Analytics forecasts that developers’ sales for 2025 could reach 11,000 units, with prices expected to grow between 3% and 4% for the year.