Regional News

Xero, a global small business platform, has unveiled research highlighting the significance of celebrating milestones for small businesses in Singapore. The study found that 59% of small businesses in Singapore recognise the importance of celebrating achievements, yet 18% refrain due to financial constraints or a lack of significant milestones.

The research revealed that businesses celebrating milestones experienced a 30% increase in revenue, compared to 19% for those that did not. In Singapore, celebrating milestones positively impacted employee morale (87%), wellbeing (85%), and performance (84%). Despite these benefits, only 54% of Singapore business owners reported reaching a milestone in the past year, with 23% achieving one over three years ago.

Singaporean business owners identified key milestones such as being able to pay themselves (41%) and receiving positive reviews (36%). Karina Cady, CEO of Nandina REM, shared her experience of celebrating milestones, recalling the joy of holding reclaimed carbon fibre for the first time. She emphasised the importance of creating a positive workplace culture through simple celebrations like potluck dinners.

Over the past year, Singapore small businesses spent an average of $6,200 (S$8,451) on celebrations, more than double the global average. However, Cady noted that meaningful celebrations do not require large expenditures, highlighting the value of team bonding activities.

The research, conducted by Xero and facilitated by One Picture, surveyed 2,300 small business owners across seven markets, including Singapore. The findings underscore the importance of recognising and celebrating business achievements to enhance productivity and morale.
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Competitive entertainment company BLAST has announced a significant multiyear partnership with the Singapore Tourism Board (STB) to host four premier esports arena events in Singapore. This collaboration aims to solidify Singapore’s position as a leading destination for competitive gaming and live entertainment in Asia and globally.

The partnership follows the successful BLAST Premier World Final in 2024, which marked BLAST’s debut in Southeast Asia and drew a sold-out crowd at the Resorts World Convention Centre. Building on this momentum, BLAST will return to Singapore in November for the BLAST Dota Slam Singapore, the company’s first-ever Dota 2 arena event. Scheduled for 7-9 November 2025 at the Singapore Indoor Stadium, this tournament will feature top Dota 2 teams competing for a $1m prize pool.

Leo Matlock, Chief Business Officer at BLAST, expressed enthusiasm about the long-term commitment to the region, stating, “Singapore delivered one of the most passionate and engaged esports crowds we’ve ever seen.” Jean Ng, Assistant Chief Executive at STB, highlighted the economic benefits, noting that large-scale international esports events create significant opportunities for the local tourism ecosystem.

The multiyear agreement is expected to generate tens of millions in economic impact for Singapore through visitor spending, job creation, and international exposure. Singapore will join a global esports calendar that includes cities like London, Lyon, and Rio, further enhancing its reputation as an esports powerhouse in Asia. Fans can sign up at BLAST.tv for ticketing updates and exclusive news on future events.
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Felicity, an AI-enabled gametech company renowned for its high-performing gaming titles, has announced the opening of its new office in Singapore, marking a significant expansion into Southeast Asia. The Singapore entity, Felicity Labs Pte Ltd, will serve as the company’s regional headquarters, focusing on acquisitions and operations to achieve a twofold growth by March 2026.

The strategic move is designed to bolster Felicity’s presence in high-growth markets such as Vietnam and Thailand, aiming to increase its regional user base to over 2 million. This expansion will enable Felicity to deepen its collaboration with developers and creators in one of the world’s fastest-growing game development ecosystems. Anurag Choudhary, Founder and CEO of Felicity, stated, “APAC is home to 1.5 billion gamers and a $70b market, becoming one of the fastest-growing regions globally, and we see this as a pivotal opportunity to build the future of gaming in the region.”

Felicity plans to invest $1m over the next 12 to 18 months to build a robust leadership team, expand its talent pool, and enhance market penetration across the Asia-Pacific region. With existing operations in India and Türkiye, the company aims to acquire intellectual properties, expand its talent and player base, and form a regional developer network.

Having raised $37m across two funding rounds, Felicity is well-positioned to leverage its new Singapore base to drive innovation and growth, further solidifying its global footprint in the gaming industry.
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Aster has signed a Memorandum of Understanding (MOU) with Aether Fuels Pte. Ltd., a startup based in Singapore and the US, to develop cost-competitive sustainable liquid fuels. This partnership marks the inaugural investment of Aster Ventures, aimed at bolstering Aster’s energy, chemicals, and infrastructure business across Singapore and Southeast Asia.

Erwin Ciputra, Group CEO of Aster, expressed enthusiasm about the collaboration, stating, “We find Aether to be an exciting high velocity startup that has the potential capability of converting waste carbon feedstock into liquid fuels within our Bukom and Jurong asset ecosystem.” This initiative aligns with Aster’s commitment to reducing carbon intensity in its operations.

Phil Inagaki, Chief Investment Officer at Xora, highlighted the significance of the partnership, noting Aster’s role in advancing decarbonisation efforts in Singapore. He remarked, “We’re encouraged by Aster’s commitment to support breakthrough innovations like Aether’s Aurora™ technology.”

Conor Madigan, CEO of Aether Fuels, emphasised the strategic benefits of the partnership, saying, “This collaboration will accelerate our efforts to bring sustainable fuels to market globally and lay a solid foundation for future projects in the region.”

The MOU outlines plans to leverage Aster Group’s assets on Bukom Island to scale up Aether’s technology development. This collaboration is expected to pave the way for further joint ventures, reinforcing Singapore’s position as a hub for deep tech solutions with global impact.
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The Singapore Armed Forces (SAF) has announced a series of live-firing and military exercises scheduled from 18 to 25 August 2025. These exercises will take place on the islands of Pulau Sudong, Pulau Senang, and Pulau Pawai, as well as in the Pasir Laba SAFTI Live-Firing Area. The SAF has assured that all necessary safety and control measures will be in place, though loud noises are expected.

The public is urged to avoid these islands and their surrounding waters, as well as the prohibited waters off Changi Naval Base and Tuas Naval Base. Additionally, sea vessels navigating the Western Johor Straits should adhere to the 75m Navigable Sea Lane to avoid entering the live-firing boundary, where live ammunition and flares will be used.

Military exercises will also occur in various locations, including Seletar, Marsiling, Jalan Bahar, Neo Tiew, Lim Chu Kang, and several other areas. These exercises will involve the use of blanks and thunderflashes. The SAF advises the public not to be alarmed by the activities.

Trespassing into gazetted and SAF-restricted areas is illegal and punishable by law. The SAF strongly advises the public to steer clear of these areas for their safety. The exercises are part of routine training to ensure the operational readiness of the SAF.
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Wing Bank, a fully Cambodian-owned digital bank, has partnered with Singapore Airlines to introduce Cambodia’s first points-to-miles exchange programme. This collaboration allows Wing Bank customers to convert their WingPoints into KrisFlyer miles, offering enhanced travel and lifestyle benefits. The initiative, launched on 14 August 2025, aims to boost customer rewards and promote digital financial ecosystems.

The launch event, held in Phnom Penh, was attended by notable figures including Cambodia’s Minister of Tourism, Huot Hak, and representatives from Singapore Airlines. Bryan Koh, Divisional Vice President of Loyalty Marketing at Singapore Airlines, highlighted the partnership’s potential to transform everyday banking into global travel opportunities. “This is more than a rewards upgrade—it’s a gateway to global connectivity,” said Dmytro Kolechko, CEO of Wing Bank.

Customers can easily convert their points through the Wing Bank App, unlocking benefits such as offsetting airfares with Singapore Airlines or redeeming products from KrisShop. As a launch bonus, users receive 1,000 WingPoints for each successful conversion. Additionally, from 13 August to 2 September 2025, Wing Bank users can enjoy a 5% discount on roundtrip fares from Phnom Penh to Singapore by using the promo code SQWING25.

This strategic partnership signifies a major advancement in regional travel and financial innovation, providing Cambodian consumers with greater value and global access. The travel promotion is valid until 31 October 2025, subject to availability.
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Singapore’s real estate market experienced varied performance in the second quarter of 2025, according to the latest report by Realion Research. Investment sales activity softened, reaching S$5.5 billion, primarily due to a pricing mismatch and cautious investor sentiment. However, the market is projected to achieve total investment sales of between S$20 billion and S$25 billion for the full year, driven by potential interest rate cuts.

Office rents in the central region remained stable, with a slight 0.3% decrease in Q2 offset by a similar gain in Q1. The limited supply pipeline until 2027 is expected to favour CBD premium and Grade A office spaces, which are anticipated to see modest rental growth. Shadow space increased by 12.5% quarter-on-quarter to 420,000 square feet, indicating potential relocations or downsizing by tenants.

In the industrial sector, property prices rose by 1.4% quarter-on-quarter, led by multiple-user factories. Despite a slight dip in overall occupancy to 88.8% due to increased supply, the sector remains buoyant. The supply pipeline for industrial space is expected to reach approximately 3 million square feet for the rest of 2025, potentially exerting downward pressure on rental rates.

Retail rental rates showed steady growth, with prime first-storey rents on Orchard/Scotts Road increasing by 0.5% to S$41.60 per square foot. The islandwide retail occupancy rate stood at 92.9%, slightly down from 93.2% in Q1. Retail rents are expected to rise modestly, although rising business costs and tighter manpower regulations may keep leasing activity focused on relocations or downsizing.

Private home prices rose by 1% quarter-on-quarter, driven by landed homes and non-landed segments in the Core Central Region and Outside Central Region. However, transaction volumes fell by 29.4% due to fewer new project launches. Prices are expected to rise by 3-5% for the whole of 2025, with around 21,000 to 24,000 units being transacted.
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Digital banks in Singapore are revolutionising the way small and medium-sized enterprises (SMEs) access financing, addressing long-standing challenges such as limited credit access and inflexible financing options. GXS Bank, a key player in this transformation, recently acquired Validus Capital, a leading SME-focused digital lender, marking the first instance of a local digital bank acquiring a homegrown fintech firm.

SMEs constitute 99% of businesses and 70% of the workforce in Singapore, yet many face barriers that hinder their growth and cash flow management. Digital banks are stepping in to offer innovative financing solutions and digital tools that streamline operations, improve efficiency, and open new growth opportunities. This support is crucial as SMEs navigate rising operational costs and seek to compete globally.

The acquisition of Validus Capital by GXS Bank in April has significantly accelerated the bank’s market presence. Within just over 100 days, the rebranded GXS Capital has expanded its suite of digital business banking solutions and witnessed a notable increase in loan disbursements. Vishal Shah, Group Head of Business Banking at GXS Bank, highlights the importance of this acquisition in enhancing the bank’s ability to serve micro, small, and medium enterprises (MSMEs) with innovative lending and working capital solutions.

Digital banks like GXS are proving to be valuable partners to fintechs, bridging gaps in SME financing and supporting the sector’s growth. As the landscape continues to evolve, these institutions are poised to play a critical role in shaping the future of SME financing in Singapore.
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Brilliance Capital has announced the sale of 16 prime freehold ground floor retail and F&B units at Crown Centre, located at 557 Bukit Timah Road, Singapore. The sale, conducted via an Expression of Interest (EOI) exercise, will close on 23 September 2025 at 3.00 pm. The portfolio is offered at a guide price of $24.7 million (S$33.8 million).

The units, covering approximately 5,942 square feet, represent a majority stake in the development, making the buyer the largest owner in Crown Centre. This significant shareholding promises substantial rental income and influence over the property’s long-term management and strategic direction. The portfolio is fully leased to a diverse tenant mix, including F&B, education, and lifestyle sectors, with notable tenants such as Popeyes, Domino’s Pizza, and Kelly Academy.

Crown Centre’s location on Bukit Timah Road, a high-traffic arterial route, provides exceptional visibility and customer flow. Its freehold tenure is a rare asset in Singapore’s property market, offering long-term investment security and capital preservation potential without the burden of Additional Buyer’s Stamp Duty or Seller’s Stamp Duty.

The property’s strategic location in District 10, near Botanic Gardens MRT and Tan Kah Kee MRT, ensures high foot traffic from surrounding affluent estates and prestigious schools. The area is poised for growth with upcoming developments like the Bukit Timah Turf City redevelopment, expected to boost demand for retail and F&B services.

Sammi Lim, Founder and Executive Director of Brilliance Capital, highlighted the opportunity as a chance to acquire a “freehold commercial portfolio with main road visibility, carparking support, full occupancy, and a majority stake in the development.” The sale is managed exclusively by Brilliance Capital.
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CSE Global, a leading global systems integrator, has announced an 8.5% increase in net profit to S$16.3 million for the first half of 2025, with revenue climbing 2.8% to S$440.9 million. The growth was primarily propelled by the Communications business segment, which saw significant demand, particularly in the US market. The company also reported a robust order book valued at S$573.8 million as of 30 June 2025.

The Group’s Managing Director and CEO, Lim Boon Kheng, highlighted the company’s resilience amidst market uncertainties, stating, “We continue to strengthen our engineering capabilities and expand our technology solutions to adapt to evolving market demands.” The recent acquisition of Chicago Communications has bolstered CSE Global’s presence in four US states, aligning with its regional expansion strategy.

CSE Global’s Board of Directors has recommended a one-tier tax-exempt interim dividend of 1.14 Singapore cents per ordinary share, with payment scheduled for 26 September 2025. The company is optimistic about future growth, particularly in the data centre industry, where its Electrification and Communications solutions are in high demand.

Looking ahead, CSE Global plans to expand its capacity in the Electrification and Communications sectors, aiming to capitalise on emerging trends such as urbanisation, electrification, and decarbonisation. With a strong order book and strategic focus, the company is well-positioned for continued financial health in 2025.
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