Regional News

Project 95 (P95) Basketball Academy and Limited Edt have unveiled Singapore’s first art-led tribute to the late Kobe Bryant, marking Mamba Day 2025 with a unique blend of art and sport. Held at P95, Singapore’s pioneering tech-powered basketball academy, the event featured a striking aluminium sculpture capturing the essence of Bryant’s Mamba Mentality—resilience, discipline, and excellence.

The tribute, which took place at AiRENA, Singapore’s first AI-enabled sports enterprise, underscores P95’s commitment to youth development through both performance and purpose. Alan Lim, Director of P95, emphasised the academy’s focus on character and skill, stating, “The Mamba Mentality is about pushing past your limits with heart and purpose—values we instil in every player.”

Limited Edt, a leading trainer and streetwear institution in Singapore, partnered with P95 for this initiative. Mandeep Chopra, Founder and Managing Director of Limited Edt, remarked, “Kobe Bryant was more than a player. He was a symbol of drive and integrity.”

The day-long event included a showcase of Kobe memorabilia from private collections, a parent-child basketball game, and a special trainer sale featuring iconic Kobe designs. Attendees also received exclusive “Black Mamba Day 2025” cards.

Artist Jahan Loh, who created the sculpture, noted, “Kobe stood at the intersection of sport, style and spirit. This was exactly what I wanted to encapsulate through this piece.”

Through this collaboration, P95 and Limited Edt aim to foster a deeper appreciation for Kobe Bryant’s legacy, merging sports, art, and values in a meaningful tribute.
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Singapore-based Agoda has unveiled a selection of Asia’s most cat-friendly destinations, catering to feline enthusiasts seeking unique travel experiences. From Taiwan to Thailand, these locations promise memorable encounters with cats amidst picturesque settings.

Houtong Cat Village in Taiwan, once a mining village, has transformed into a haven for cat lovers. Adorned with cat-themed decorations and cafes, visitors can enjoy leisurely strolls whilst interacting with the friendly feline residents. Similarly, Jiufen, a charming mountain town in Taiwan, offers scenic views and tea houses alongside its resident cats, providing a delightful travel experience.

In Malaysia, Kuching, known as the City of Cats, features cat statues and a cat museum, immersing visitors in a feline-centric environment. Meanwhile, Tokyo’s Gotokuji Temple, the birthplace of the Maneki-neko or beckoning cat, is filled with thousands of cat statues believed to bring good luck, making it a fascinating stop for cat enthusiasts.

Bangkok’s Si Yaek Huatakhe Cafe & Guesthouse offers a unique experience with cat boat tours through the canals, combining sightseeing with feline companionship. Some tours also focus on environmental efforts, appealing to cat lovers who care about sustainability.

Jun Dong, Associate Vice President at Agoda, stated, “Every cat lover deserves a pawsome adventure.” Agoda offers over 6 million holiday properties, 130,000 flight routes, and 300,000 activities, ensuring travellers can easily plan their next cat-themed adventure.
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Agile Labs, a leading software innovation company based in Singapore, has unveiled Southeast Asia’s first AI Risk Matrix Assessment specifically designed for enterprise software projects. This pioneering tool aims to address the significant challenge of project failures, with 60% to 70% of enterprise software projects reportedly failing due to unclear requirements and unmanaged risks.

The AI Risk Matrix Assessment leverages advanced AI integration to provide a proactive framework for identifying, quantifying, and mitigating potential risks before any code is written. This approach allows project teams to anticipate complications and plan strategically, thereby enhancing decision-making from the outset and reducing the likelihood of costly rework.

Agile Labs is renowned for its expertise in custom web and mobile app development across Android and iOS platforms. The company is committed to agility, innovation, and quality, working closely with enterprises to develop scalable, user-centric digital products. Their portfolio includes bespoke software systems and integrated AI solutions, enabling clients to transform operations and maintain a competitive edge in the digital landscape.

The introduction of the AI Risk Matrix Assessment underscores Agile Labs’ dedication to empowering businesses with intelligent tools that enhance clarity and control. As digital transformation accelerates across the region, Agile Labs positions itself as a trusted partner for companies seeking to build smarter, more resilient enterprise software solutions.
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The #RevUpSG fan favourites are making a comeback as Singapore GP announces a series of Formula 1-themed activities leading up to the Singapore Airlines Singapore Grand Prix 2025. With just over a month until the event, residents can look forward to pop-up festivals and the unique opportunity to walk down the Formula 1 Pit Lane.

Fans will be treated to a variety of activities at the #RevUpSG pop-up festivals, scheduled for 6 to 7 September at Kampung Admiralty and 20 to 21 September at One Punggol. These festivals will feature race simulators, reaction games, and a remote-control car game by beIN SPORTS. Attendees can also view a Singapore Grand Prix-inspired LEGO display and preview official merchandise, with chances to win prizes.

A highlight of the festivals is the screening of Singapore’s feature in Netflix’s Formula 1: Drive to Survive Season 7, offering insights into the race through the eyes of drivers like Alex Albon and Charles Leclerc. Additionally, live screenings of the Italy and Azerbaijan Grands Prix will be hosted by beIN SPORTS.

Exclusively at Kampung Admiralty, Singapore Citizens and Permanent Residents can purchase an SG60 bundle, which includes a Friday Zone 4 Walkabout ticket and limited-edition memorabilia, available only on 6 September.

The Thursday Pit Lane Experience, set for 2 October, will allow 4,500 Singapore residents to explore the Formula 1 Pit Lane and view team garages before the race weekend. Tickets for this experience will be distributed via a ballot opening on 25 August.

These initiatives aim to engage the community and build excitement as Singapore prepares to host the world-renowned night race at the Marina Bay Street Circuit.
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Singtel, Singapore’s leading telecom provider, is projected to reach a stock price of S$5.04 within a year, according to a recent report by DBS. This forecast represents a 23% increase from its last traded price of S$4.11 on 21 August 2025. The anticipated growth is attributed to a renewed correlation between Singtel’s stock price and the market value of its associates, alongside sector consolidation in Singapore’s telecom industry.

The report highlights that Singtel’s core business, which contributes approximately 50% to its core earnings before interest and taxes (EBIT), is expected to benefit from sector consolidation in the next nine to 15 months. This consolidation is anticipated to renew growth in Singtel’s Singapore telco operations, which currently account for about 10% of the group’s profit.

DBS analyst Sachin Mittal notes that the correlation between Singtel’s share price and its associates’ market value has revived to 63% over the past year, suggesting a potential reduction in the holding company discount from 24% to below 10%. This revival is partly due to improved core EBIT and strategic divestments.

Singtel’s geographical diversification, with significant stakes in telecom associates across India, Indonesia, the Philippines, and Thailand, contributed over 64% of its group operating profit in FY25. The company is also expected to accelerate core EBIT growth through investments in data centres and GPU as a Service.

However, potential risks include a decline in the Australian dollar or increased competition in Australia, which could impact Optus, Singtel’s Australian subsidiary. Despite these challenges, Singtel’s earnings are projected to grow at a compound annual growth rate of 12% over FY25-27, supported by a 4.7% yield and buyback initiatives.
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SATS, a leading global aviation services and food solutions provider, has reported a 20% year-on-year increase in its core profit after tax and minority interests (PATMI) for the first quarter of the financial year 2026. This growth, amounting to $51.5m (S$70.5m), was primarily fuelled by robust air cargo volumes and enhanced yields, despite global trade uncertainties.

The company’s revenue rose by 9.9% year-on-year to $1.1b (S$1.5b), with significant contributions from its Gateway segment. Cargo handling and ground handling revenues increased by 12.2% and 9.2% respectively. SATS has successfully outpaced industry cargo volumes for seven consecutive quarters, gaining market share through new contracts and expanded services with existing clients.

SATS’ Food Solutions segment also saw a 5.6% rise in revenue, driven by increased aviation food volumes and higher non-aviation food average selling prices. The company is optimising its operations by shifting its Singapore kitchen model to an assembly-driven operation, which is expected to enhance efficiency and reduce capital expenditure.

Looking ahead, SATS anticipates continued growth in its core net profit for FY26 and FY27, with expectations of mid-single digit growth in cargo tonnage. The company is also focused on reducing its debt, targeting a $146.2m (S$200m) reduction in FY26, which is expected to lower financing costs and support further profit growth.

Despite potential risks from global economic instability and trade disruptions, SATS remains optimistic about its growth prospects, maintaining a “BUY” recommendation with a raised target price of $2.78 (S$3.80).
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Ascentium, a global business services platform based in Singapore, has announced a partnership with INSEAD, a leading graduate business school, to launch the Ascentium-INSEAD Leadership Development Programme. This initiative, aimed at developing Ascentium’s C-suite executives, will run from 25 to 29 August 2025 at INSEAD’s Asia Campus in Singapore. The programme is designed to build a resilient leadership pipeline by focusing on strategic growth and innovation in a rapidly changing world.

The curriculum, crafted in collaboration with INSEAD’s Global Private Equity Initiative, will cover themes such as strategic growth in a VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) environment, stakeholder expectations, and technological innovation. Participants will engage in workshops, simulations, and case studies to enhance their leadership skills.

Lennard Yong, Founding Management and Group CEO of Ascentium, stated, “As we navigate the complexities of the Fourth Industrial Revolution, marked by rapid technological change and macroeconomic uncertainty, our partnership with INSEAD is a strategic step to future-proof our leadership.” He emphasised the company’s commitment to investing in its leadership to achieve competitive excellence.

Professor Philipp Meyer-Doyle, Programme Director for Ascentium at INSEAD, praised Ascentium’s growth and dedication to human capital development. He noted, “Ascentium’s leaders have a clear vision and strategy to achieve it, as well as a proven track record in doing so.”

This programme marks the beginning of a multi-year partnership between Ascentium and INSEAD, reflecting a long-term commitment to professional development and a culture of excellence.
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Katrina Group Ltd. and Lotte GRS Co., Ltd. have officially signed Franchise and Development Agreements to introduce Korea’s popular hamburger chain, Lotteria, to Singapore. The first outlet is expected to open by February 2026, promising to add a new flavour to the local fast-food scene.

The signing ceremony, held at Lotte World Tower, saw key figures from both companies, including Lotte GRS executives Lee Kwon hyoung, Shin Yoo-yeol, and Cha Woo-chul, alongside Katrina Group’s Alan Goh and Krystal Goh. This partnership builds on a strategic collaboration announced in October 2024, aiming to establish multiple Lotteria outlets across Singapore.

Alan Goh, CEO of Katrina Group, expressed enthusiasm about the venture, stating, “We are proud to take this next step with Lotte GRS in bringing Lotteria to Singapore. The official signing of the Franchise and Development Agreements marks a major milestone in our journey to introduce a dynamic and globally respected brand to our market.”

Lotteria, founded in 1979, is renowned for its Korean-style burgers and innovative menu, operating over 1,300 outlets in South Korea and 320 internationally. Its entry into Singapore is anticipated to enhance the nation’s vibrant fast-food and Korean dining landscape.

Cha Woo Chul, CEO of Lotte GRS, highlighted the synergy between the two companies, noting Katrina Group’s strong track record in managing successful F&B brands in Singapore. The partnership is expected to leverage Katrina Group’s local expertise and Lotteria’s brand identity to drive growth.

Further details about Lotteria’s first Singapore outlet will be announced as the opening date approaches.
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OUE REIT Management Pte. Ltd., managing OUE Real Estate Investment Trust (OUE REIT), has announced the successful acquisition of its first green loan, a S$600m facility, alongside S$225m in revolving credit and a S$5m bank guarantee. This financing, secured through a joint venture with OUE Allianz Bayfront LLP, aims to refinance existing facilities due in 2026 and support general corporate purposes. The green loan, coordinated by DBS Bank Ltd. and Oversea-Chinese Banking Corporation Limited, follows OUE Bayfront’s upgrade to a BCA Green Mark Platinum certification.

The refinancing will lower the weighted average cost of debt to 4.1% per annum by 30 June 2025, down from 4.2%, and extend the average debt term from 2.7 to 2.9 years. Only 22.5% of OUE REIT’s total debt will be due in 2026 post-refinancing. CEO Han Khim Siew highlighted the strategic advantage, stating, “This timely refinancing allows OUE REIT to capitalise on our green credentials and the recent decline in the Singapore Overnight Rate Average to achieve significant interest cost savings.”

The transaction marks a significant step in OUE REIT’s sustainability journey, with green and sustainability-linked financing now comprising 86.1% of its total borrowings. Elaine Lam of OCBC emphasised the importance of this milestone, noting, “This milestone attests to OUE REIT’s commitment as a forward-looking REIT to continually set new benchmarks in sustainable building practices.”

This refinancing not only optimises borrowing costs but also aligns with OUE REIT’s broader sustainability goals, setting a precedent for future financial strategies.
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Frasers Centrepoint Asset Management Ltd., the manager of Frasers Centrepoint Trust (FCT), has announced the divestment of ten strata lots at Yishun 10, Singapore, to Lion (Singapore) Pte. Limited, a subsidiary of Frasers Property Limited. The sale, valued at S$34.5m, was finalised on 25 August 2025 and is based on independent valuations by Jones Lang LaSalle Property Consultants and Savills Valuation and Professional Services.

The divestment aligns with FCT’s strategy to optimise its portfolio and enhance returns for its unitholders. The net proceeds of approximately S$33.8m, after accounting for related expenses and tenant security deposits, will be used to repay debt, thereby reducing FCT’s leverage and strengthening its financial position. The properties, acquired in 2016, are part of a retail development next to Northpoint City and have a total gross floor area of 966 square metres.

The transaction is classified as an “interested person transaction” under Singapore Exchange rules due to the Purchaser’s relationship with the Sponsor, Frasers Property Limited. However, it does not require unitholder approval as it falls below the threshold necessitating such consent. The Audit, Risk and Compliance Committee of the Manager has confirmed that the terms of the divestment are in line with market standards and not prejudicial to minority unitholders.

This strategic move is part of FCT’s ongoing efforts to manage its property portfolio proactively, ensuring that assets are divested when it benefits unitholders, and proceeds are reinvested in line with investment criteria.
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