Regional News

Medulla Communications Pvt. Ltd., a leading healthcare advertising agency, has announced its expansion into Singapore, establishing a strategic hub to serve the Asia-Pacific (APAC) region. Known for its expertise in healthcare marketing, Medulla aims to introduce a new super-specialist category as the first digital healthcare advertising agency in Asia.

Medulla has been recognised globally, winning prestigious awards such as the Healthcare Agency of the Year at Cannes Lions and securing top positions at the APAC Effies. This expansion reinforces Medulla’s commitment to delivering comprehensive healthcare marketing services, including brand strategy, performance marketing, and highly targeted digital campaigns.

The Singapore hub will offer specialised digital healthcare advertising services to consumer healthcare, pharmaceutical, hospital, diagnostic, and health-tech brands across the region. Praful Akali, Founder and Managing Director of Medulla Communications, expressed enthusiasm about the expansion, stating, “We are excited to offer this expertise more directly and seamlessly through an office in Singapore.”

Leading the APAC operations is Taffy Ledesma, a seasoned executive with experience in healthcare, FMCG, and agency leadership. Ledesma emphasised his commitment to driving commercial effectiveness for clients, stating, “My focus is on driving commercial effectiveness—and that’s what true partnerships achieve.”

Medulla has collaborated with global companies such as Pfizer, Novartis, and Bayer. With this expansion, the agency is poised to further its mission of delivering transformative healthcare marketing solutions across new frontiers. Founded in 2008, Medulla has consistently been recognised as one of the top healthcare agencies globally.
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Perennial Holdings has announced a refreshed brand identity, set to be implemented on 18 August 2025, as part of its strategic shift towards a healthcare-led, real estate-enabled business model. This transformation marks the company’s evolution from a purely real estate-focused entity, established in 2009, into an integrated healthcare and real estate company.

The new brand architecture introduces a unified logo and standardised naming system across its four core business verticals: medical, eldercare, real estate, and hospitality. Each vertical is represented by distinct colours—Sapphire Blue for medical care, Green for eldercare, Terracotta for real estate, and Gold for hospitality—highlighting the company’s commitment to clarity and legacy.

Recent milestones underscore Perennial Holdings’ pivot to healthcare, including securing China’s first wholly foreign-owned private tertiary general hospital licence in Tianjin and launching an integrated medical care, eldercare, and hospitality development linked to high-speed rail in the same city. Additionally, the company operates China’s first Alzheimer’s care village in Xi’an and is set to introduce Singapore’s first private assisted living development and integrated rehabilitation and traditional Chinese medicine centre.

Perennial Holdings aims to leverage its expertise across these sectors to create a synergistic ecosystem of care. The company’s new logo, featuring an artistic ‘P’, reflects its strong foundation in real estate and its vision for sustainable growth in healthcare and real estate developments.
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Delfi Ltd has been downgraded to “fully valued” by DBS Group Research in a note, with a revised target price of SGD0.70, following a significant drop in earnings for the first half of 2025. The company’s earnings fell by 38% year-on-year to $12 million, which accounted for only 41% of the previous full-year forecast, falling short of expectations.

The downgrade comes as Delfi Ltd faces increased distribution costs aimed at maintaining its market share in Indonesia’s challenging consumer market. The company has adjusted its earnings forecast for the fiscal years 2025 and 2026, reducing them by 20% and 29%, respectively. This adjustment reflects the ongoing pressure from higher distribution expenses.

In addition to the earnings decline, Delfi Ltd announced an interim dividend of 1.0 US cent, representing a 51% decrease compared to the previous year, with a payout ratio of 50%. This reduction in dividend highlights the financial strain the company is experiencing.

The downgrade and revised forecasts underscore the challenges Delfi Ltd faces in navigating a weak consumer market in Indonesia. As the company works to defend its market position, the financial outlook remains cautious. The revised target price and earnings projections reflect the need for strategic adjustments in response to the current market conditions.
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POCO, a prominent technology brand, has unveiled the POCO M7 in Singapore, aiming to captivate young tech enthusiasts with its blend of entertainment, performance, and design. The smartphone, launched on 15 August, boasts a substantial 7000mAh battery, promising up to two days of usage, and features a 6.9-inch FHD+ display for an immersive viewing experience.

The POCO M7’s battery utilises advanced silicon-carbon technology, offering up to 28 hours of video playback or 46 hours of calls. It also supports 33W fast charging and 18W reverse charging, making it a versatile choice for users with multiple devices. “POCO M7 blends affordable mobile entertainment with practical upgrades and all-day endurance,” said Kang Lou, Senior Product Marketing Manager at POCO Global.

The smartphone is available in three colours—Silver, Blue, and Black—and comes in two storage variants: 6GB+128GB and 8GB+256GB, priced at $146 (SGD 199) and $168 (SGD 229) respectively. An early bird offer is available from 14 August to 27 August, reducing the prices to $131 (SGD 179) and $153 (SGD 209).

Equipped with a Snapdragon 685 processor and running on Xiaomi HyperOS 2, the POCO M7 promises enhanced performance and efficiency. It also features a 50MP dual rear camera and an 8MP front camera, catering to photography enthusiasts.

The POCO M7 is available for purchase on platforms such as mi.com, Shopee, and Lazada, providing easy access for consumers eager to experience its features.
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Bank of Singapore has launched the Family Office Catalyst, a new initiative designed for ultra-high net worth individuals (UHNWI) seeking professional wealth management in Singapore. This solution provides the benefits of a single-family office (SFO) — such as specialised investment expertise and tax exemptions — without the need to set up and manage a dedicated SFO.

The Family Office Catalyst allows Bank of Singapore to act as the fund manager for the UHNWI’s investment vehicle, which can qualify for tax exemptions under Sections 13O and 13U of the Income Tax Act 1947. The investment vehicle must have at least $20 million in assets under management and will be managed through either discretionary or advisory portfolio management.

Lim Leong Guan, Global Head of Financial Intermediaries, Family Office and Wealth Advisory at Bank of Singapore, highlighted the growing interest among UHNWIs to professionalise wealth management. “Concerns around high operating costs and the challenge of attracting suitable investment talent amid intense competition are prompting them to consider more efficient solutions,” he said.

The Bank’s portfolio management teams, known for their expertise in Asian markets and multi-asset portfolios, have delivered impressive returns. As of June 2025, the Asia equity portfolio achieved a 14.2% year-to-date return, whilst the Singapore equity portfolio posted 12.6% gains. The Bank’s ESG mandate, introduced in 2023, has also delivered over 20% annualised returns.

The Family Office Catalyst aims to provide a cost-efficient and holistic alternative to setting up an SFO, with the flexibility for clients to transition to an SFO structure if desired. This initiative underscores Bank of Singapore’s strategic focus on the UHNWI segment, which saw double-digit growth in assets under management in 2024.
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Developer sales in Singapore soared in July 2025, with 940 units sold, marking a significant increase from the 272 units sold in June. This surge, attributed to pent-up demand and competitively priced new launches, also represents a 63.2% rise compared to July 2024, according to Tricia Song, CBRE Head of Research, Southeast Asia.

The top-selling project was Otto Place, an Executive Condominium (EC) at Tengah, which sold 358 units at a median price of $1,746 per square foot (psf). ECs, a hybrid of private and public housing, remain popular due to their affordability. Lyndenwoods, located in Singapore Science Park, was the top-selling private project, with 331 of its 343 units sold at a median price of $2,463 psf. This project benefited from its connectivity to the MRT and integration with the rejuvenated Science Park precinct.

Upperhouse at Orchard Boulevard and The Robertson Opus also performed well, selling 178 and 149 units, respectively. The former’s competitive pricing for a luxury project and the latter’s rare 999-year leasehold status attracted buyers.

In contrast, W Residences Marina View struggled, selling only two units out of 683, possibly due to less interest in city living and less attractive pricing compared to nearby developments.

The Rest of Central Region (RCR) led sales with 513 units, whilst the Core Central Region (CCR) saw a significant increase, selling 357 units. The Outside Central Region (OCR) sold 70 units, maintaining its performance from June.

Looking ahead, CBRE Research anticipates strong sales in August, potentially exceeding 1,500 units, driven by new launches and favourable economic conditions. The full-year forecast for 2025 new home sales is now expected to reach 8,000 units, with private home prices projected to rise by 3-4% due to low unsold inventory and strong household balance sheets.
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Singapore’s Community Development Councils (CDCs), in collaboration with the Government Technology Agency of Singapore (GovTech Singapore), have launched an innovative programme called Walking TrailsCDC. Officially unveiled on 16 August 2025 at Assumption Pathway School, the initiative aims to transform routine health activities into interactive adventures, encouraging residents to explore their neighbourhoods whilst staying active. The launch event was attended by Edwin Tong, Minister for Law and Second Minister for Home Affairs, alongside the five mayors of the CDCs.

Walking TrailsCDC is designed to align with the national Healthier SG initiative, which focuses on preventive health and community wellness. The programme features five uniquely curated trails, each located in a different district, allowing participants to explore iconic landmarks such as Bukit Timah Railway Station and East Coast Beach. The initiative not only promotes physical activity but also aims to strengthen community bonds by encouraging families and friends to participate together.

Adding a digital twist to the experience are the CDC Ollies, five digital mascots representing the CDCs’ community pillars. Participants can collect these mascots to unlock additional rewards, enhancing the interactive experience. The programme offers up to $10 in RedeemSG Rewards vouchers per trail, with the first 5,000 participants on each trail eligible for these incentives.

Walking TrailsCDC is open to Singapore Citizens and Permanent Residents aged 15 and above. As the programme progresses, the CDCs plan to gather public feedback and potentially introduce more trails, further enriching the community experience.
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WeRide, a leader in autonomous driving technology, has announced a strategic equity investment from Singapore-headquartered Grab, Southeast Asia’s leading superapp. This partnership aims to accelerate the deployment and commercialisation of Level 4 Robotaxis and autonomous shuttles in Southeast Asia. The collaboration reflects a shared vision to integrate WeRide’s autonomous vehicles into Grab’s network, enhancing service and safety levels.

The investment, expected to be completed by the first half of 2026, supports WeRide’s strategy to expand its commercial autonomous vehicle fleet in the region. This partnership will establish a framework for deploying autonomous solutions across Grab’s network, enhancing operational efficiency and scalability. WeRide will integrate its technology into Grab’s fleet management, vehicle matching, and routing ecosystem.

WeRide’s CEO, Dr. Tony Han, expressed enthusiasm about the collaboration, stating, “Together, we will combine WeRide’s advanced AV technology and operational know-how with Grab’s strengths to accelerate safe, efficient Robotaxi services.” Grab’s CEO, Anthony Tan, highlighted the potential of AVs to address manpower constraints and improve transportation reliability in cities with driver shortages.

The partnership will focus on optimising dispatch and routing, maximising vehicle uptime, and measuring safety performance. Additionally, it will involve remote monitoring, customer support, and training initiatives to prepare Grab driver-partners and local communities for future roles in the AV industry.

This expanded partnership builds on a Memorandum of Understanding signed in March 2025, where both companies committed to exploring the technical feasibility and commercial viability of AVs in the region.
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Singapore’s non-oil domestic exports (NODX) experienced a 4.6% decline in July 2025 compared to the same month last year, according to the latest data released by the Department of Statistics Singapore. This downturn follows a notable 12.9% expansion in June, highlighting the volatility in the trade sector.

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The newly launched Springleaf Residence on Upper Thomson Road has achieved remarkable sales success, with 870 of its 941 units sold at an average price of $2,175 per square foot (psf). This impressive 92% take-up rate makes it the most successful launch since Parktown Residence in February, which sold 1,041 units. The development’s proximity to Springleaf MRT station, just a two-minute walk away, and its competitive pricing are key factors driving demand.

The launch of Springleaf Residence concludes the series of new project launches in the third quarter of 2025, a period marked by strong demand despite economic uncertainties.

Kelvin Fong, CEO of PropNex, noted that most projects released during this quarter saw take-up rates exceeding 40%. The upcoming Lunar Seventh Month, beginning on 23 August, is expected to slow down property transactions, making Springleaf Residence the last major launch before this seasonal lull.

Springleaf Residence’s pricing strategy has been pivotal, with most units priced below $2.5 million, appealing to a broad range of buyers. Indicative prices start at $1.08 million for two-bedroom units, $1.62 million for three-bedroom units, and $2.45 million for four-bedroom units. The average price of $2,175 psf is competitive compared to the $2,320 psf average for new non-landed private homes in the Outside Central Region (OCR) from January to 10 August 2025.

The development’s success is further bolstered by future transformation plans for the North region, including the Woodlands Regional Centre and Woodlands North Coast. The demand from HDB upgraders in nearby estates is also expected to sustain sales momentum. Following this success, developers like GuocoLand may be encouraged to bid for the adjacent Upper Thomson Road (Parcel A) site, which offers potential for 595 residential units and 2,000 square metres of commercial space.

With over 1,800 new units sold in August so far, the market is on track for the strongest month of new home sales since November 2024. From January to 16 August 2025, developers have sold over 7,400 units, surpassing the full-year transaction volumes of the past three years. The robust sales performance in 2025 is set to reach the highest levels since 2021, when 13,027 new units were sold.
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