Regional News

SGX Catalist-listed JEP Holdings Ltd has announced a 51.6% increase in net attributable profit, reaching S$1.6 million on sales of S$27.3 million for the first half of the financial year ending 31 December 2025. This growth is primarily driven by the strong performance of its Precision Machining segment, which serves the Aerospace and Semiconductor industries.

The Group’s revenue remained stable at S$27.3 million, with the Precision Machining segment achieving a 19.5% increase in revenue to S$18.4 million. However, this was offset by declines in the Equipment Manufacturing and Trading & Others segments, which saw revenues fall by 22.4% and 31.4%, respectively.

Profit before tax rose by 59.8% to S$1.9 million, supported by increased operating income and reduced expenses. The Group’s Executive Chairman and CEO, Andy Luong, highlighted the focus on Aerospace and Semiconductors as key growth areas, stating, “We continue to transition and evolve our business towards higher value, higher precision products.”

Despite challenges, JEP Holdings maintained a healthy financial position with net cash and cash equivalents of S$9.2 million as of 30 June 2025. The Group invested S$8.9 million in plant and equipment to position itself for future growth, particularly in the front-end semiconductor manufacturing sector.

Looking ahead, JEP Holdings aims to leverage synergies with its parent company, UMS Integration Limited, and capitalise on strong demand in the aviation and AI sectors. The Group remains optimistic about achieving long-term sustainable growth amidst global market pressures.
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Mainboard-listed IInternational Cement Group Ltd. (ICG), a prominent cement producer in Central Asia, has announced a net profit of S$21.2 million for the first half of 2025, marking a significant increase from S$3.9 million in the same period last year. This surge is attributed to a 51% rise in revenue, reaching S$165.1 million, primarily driven by the company’s operations in Kazakhstan and Tajikistan.

The Korcem cement plant, which became fully operational in late 2024, has played a crucial role in meeting the rising infrastructure demands in Kazakhstan and Tajikistan. The plant’s contributions, alongside sustained demand from the Alacem cement plant, have bolstered ICG’s financial performance. In Tajikistan, improved weather conditions led to a 36% increase in sales volume from the Mohir cement plant.

ICG’s gross profit margin improved to 36%, up from 31% in the first half of 2024, supported by increased selling prices and strong demand. The company’s CEO, Zhang Zengtao, highlighted the success of their expansion strategy and operational resilience, stating, “With the Korcem plant now fully operational, we are well-positioned to meet rising infrastructure demand in Kazakhstan and Tajikistan.”

Despite higher administrative expenses due to increased staff costs and depreciation, ICG’s adjusted EBITDA rose to S$45.9 million, compared to S$23.4 million in the previous year. The company also benefited from a net positive foreign exchange movement of S$10.5 million, driven by the appreciation of the Kazakhstani Tenge.

Looking ahead, ICG is optimistic about sustained infrastructure-driven demand in Central Asia. The company is focusing on its core cement business whilst scaling down non-core aluminium operations. The Korcem plant’s strong sales momentum is expected to continue, with exports to Kyrgyzstan already underway.
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Singapore’s largest smart blinds fashion gallery, mc.2, has announced an enticing offer for August, featuring an 8-year extended warranty on its flagship product, MAGNAZip, alongside a complimentary $500 cash voucher for indoor shading products. This promotion aims to enhance home comfort and style for customers visiting the mc.2 showroom.

MAGNAZip, renowned as the world’s first magnetic track-guided zip blind, is designed to maintain a sleek appearance whilst protecting interiors from various elements such as insects, dust, and UV rays. The product also aids in retaining air-conditioning and ensuring privacy. The extended warranty, valid until 31 August 2025, underscores MAGNAZip’s durability, which is attributed to its N35 Neodymium magnets, Somfy Maestria motor, and tension coil mechanism.

Customers interested in exploring the range or seeking personalised recommendations can visit the mc.2 showroom located at 33 Ubi Ave 3, #01-28/29, Singapore. The showroom operates from 11 AM to 7 PM on weekdays and 10 AM to 5 PM on weekends and public holidays. The promotion concludes on 31 August 2025, with terms and conditions applying whilst stocks last.

This exclusive offer presents an ideal opportunity for homeowners to upgrade their indoor shading solutions with the assurance of long-term product reliability.
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World of Beauty, a renowned Italian dermocosmetic brand, is expanding its reach into Southeast Asia by establishing its regional headquarters in Singapore. Known for its innovative, nature-based skincare products, the company aims to leverage Singapore’s strategic location and reputation for stringent healthcare regulations to support its Asian distributors. Joyce Tirindelli, the CEO and granddaughter of the brand’s founder, emphasised Singapore’s cosmopolitan appeal and its role as a hub for regional business partnerships.

Founded in 1969 by Florence Guardigli, World of Beauty has grown to offer 220 products across 52 countries. The brand is celebrated for its eco-friendly, sustainable, and ethically-sourced skincare solutions, which are free from parabens and synthetic colourants. Its products utilise a cold-extraction method to maintain the potency of natural ingredients, ensuring effective results.

The company’s commitment to personalised skincare is evident in its free skin consultations, which tailor routines to individual needs. Additionally, World of Beauty’s range includes advanced haircare treatments under the JSKIN line, continuing the legacy of science-backed formulations.

With its expansion into Southeast Asia, World of Beauty aims to make its Italian beauty packages more accessible to Asian consumers. The brand’s products are available at 40 salons in Singapore and online, reflecting its dedication to providing high-quality skincare solutions globally. As the company approaches its 60th anniversary, it continues to uphold its founding principles of combining nature and science for optimal skincare.
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Singapore’s Q2 GDP growth has been revised upwards to 4.4% year-on-year, slightly higher than the initial estimate of 4.3%, according to Nomura’s latest Asia Insights report. This adjustment aligns with expectations and reflects robust performance in the services and construction sectors. The Ministry of Trade and Industry (MTI) has subsequently raised its 2025 GDP growth forecast range to 1.5-2.5%, up from 0.0-2.0%, although it cautions about potential risks in the second half of the year.

The revision in GDP growth was primarily driven by the services sector, which saw an increase to 4.3% from 4.1%, and the construction sector, which improved to 6.0% from 4.9%. These gains offset a slight decline in manufacturing growth, which was adjusted down to 5.2% from 5.5%. The domestically-oriented sectors, including construction and real estate, showed resilience with a growth of 4.2% in Q2, up from 3.1% in Q1.

On the demand side, domestic consumption contributed significantly to GDP growth, with government consumption rising sharply by 6.7% year-on-year. Private consumption also saw an increase, supported by a strong labour market. However, the MTI remains cautious, highlighting uncertainties such as potential trade policy shifts from the US and geopolitical tensions.

Nomura maintains its 2025 GDP growth forecast at 2.6%, above the consensus of 1.8%, anticipating a slowdown in H2 due to export payback effects. Despite the cautious outlook, Nomura suggests that fiscal support measures expected in Q3 could mitigate some of the risks, particularly in the labour market.
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Singapore’s economy is projected to grow by 2.0% in 2025, according to RHB Bank’s latest Global Economics and Market Strategy Report. The report, authored by Barnabas Gan, Group Chief Economist and Head of Market Research at RHB Bank, suggests that there is an upside risk for growth to reach 3.0%, driven by improved global trade conditions and a resilient domestic economy.

The report outlines three key factors supporting the potential for increased growth: greater clarity on tariff rates among major global trading partners, an improved risk appetite, and strong year-to-date GDP growth in Singapore. Despite these positive indicators, RHB remains cautious in upgrading its forecast due to ongoing uncertainties in global trade policies, particularly between the US and key economies like China and India.

Singapore’s GDP for the second quarter of 2025 was reported at 4.4%, slightly surpassing the Ministry of Trade and Industry’s advanced estimate of 4.3% and RHB’s own projection of 4.2%. The first half of 2025 saw an average GDP growth of 4.3% year-on-year.

Gan emphasises the need for caution, citing potential challenges in the latter half of the year, including fading export front-loading and possible payback effects from the first half of 2025. The report also notes uncertainties in US trade policies, particularly sectoral tariffs on pharmaceuticals and semiconductors, as factors that could impact Singapore’s economic outlook.

Overall, whilst the report maintains a conservative stance on Singapore’s GDP growth, it acknowledges the potential for positive developments should global trade conditions continue to improve.
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Singapore’s economy showed resilience in the second quarter of 2025, with GDP growth revised to 4.4% year-on-year, according to UOB Global Economics and Markets Research. This adjustment is a slight increase from the advance estimate of 4.3%. The revision comes amid a mixed performance across sectors, with manufacturing seeing a downward revision to 5.2% year-on-year, whilst construction and services experienced upward adjustments.

The Ministry of Trade and Industry (MTI) has upgraded the GDP growth forecast for 2025 to a range of 1.5% to 2.5%, up from the previous 0.0% to 2.0%. However, the economic outlook remains uncertain, with risks leaning towards the downside. Trade-related services were notably strong, driven by export front-loading ahead of tariff deadlines, with wholesale trade rebounding by 2.8% quarter-on-quarter.

Despite the positive GDP figures, consumer-facing sectors such as retail trade and food and beverage services faced challenges, partly due to a slow recovery in tourist arrivals, which remained below pre-pandemic levels. Additionally, outbound travel by Singapore residents has surpassed 2019 levels, impacting domestic spending.

The robust GDP growth was largely supported by net exports, which grew at a faster pace than imports. Private and government consumption also contributed positively, although growth in gross fixed capital formation slowed.

Looking ahead, MTI remains cautiously optimistic about external demand, citing resilience in advanced and regional economies. However, potential risks include US tariff measures, geopolitical tensions, and financial market volatility. Domestically, manufacturing growth may weaken, and wholesale trade is expected to slow in the second half of 2025. UOB has slightly raised its GDP growth forecasts for 2025 and 2026, anticipating a short-lived technical recession in the latter half of the year.
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NTT DATA and The GEAR by Kajima have launched a pioneering smart-building initiative in Singapore, transforming Kajima’s regional headquarters and R&D hub into a cutting-edge smart ecosystem. This collaboration integrates over 10 technologies, utilising more than 8,700 data points to enhance operational efficiency, sustainability, and cybersecurity.

The initiative is part of Singapore’s broader push towards smart infrastructure, exemplified by the Punggol Digital District, which has helped the city-state secure the 5th position in the IMD Smart Cities Index 2024. NTT DATA’s role in this project includes providing network infrastructure and IoT platforms, which streamline data flows and automate operations, making The GEAR building a responsive and efficient smart environment.

The GEAR by Kajima has successfully integrated disparate systems to convert raw data into actionable insights, aligning with business key performance indicators (KPIs). This integration has resulted in enhanced operational efficiency, with over 2,000 sensors optimising inventory, procurement, and service delivery. Additionally, remote monitoring and personalised controls have improved occupant comfort and productivity, whilst energy management systems have driven cost savings.

The smart systems at The GEAR building support its BCA Green Mark Platinum Super Low Energy certification by optimising energy consumption and enabling data-driven sustainability practices. Furthermore, NTT DATA has embedded cybersecurity measures across all systems to protect the smart building ecosystem.

Png Kim-Meng, CEO of NTT DATA Singapore, stated, “This collaboration shows NTT DATA’s commitment to delivering infrastructure that drives innovation.” Luke Wu, Managing Director of The GEAR by Kajima, added, “Our partnership with NTT DATA has been instrumental in transforming The GEAR building into a living lab where smart systems, sustainability, and digital infrastructure converge.”

This initiative not only sets a benchmark for sustainable design but also provides a scalable model for future smart districts and urban environments in Singapore and beyond.
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HDB resale prices in Singapore have increased for the 21st consecutive quarter, according to OrangeTee’s Q2 2025 report. This marks the longest period of continuous price growth in history, with prices rising by 0.9% in Q2 2025, albeit at a slower pace than previous quarters. The report highlights a record number of million-dollar transactions, reaching 415 units, a 19.3% increase from the previous quarter.

The number of resale flats sold for at least S$800,000 also rose for the second consecutive quarter, with 1,481 units sold in Q2 2025. This is up from 1,182 units in Q1 2025. The demand for premium flats remains strong, particularly in towns like Tampines and Toa Payoh.

Rental demand for HDB flats has also seen an uptick, with approved applications increasing by 4.2% to 10,066 units in Q2 2025. This trend is expected to continue, with rental prices projected to rise modestly by 1% to 2% for the entire year.

HDB is on track to launch nearly 30,000 new flats in 2025, with over 19,000 being build-to-order (BTO) flats. The July 2025 BTO exercise introduced 5,547 new flats across seven towns, contributing to the increased supply.

The report projects that HDB resale prices could rise by 4% to 5.5% in 2025, with an estimated 27,000 to 28,000 transactions expected by year-end. This sustained growth in the HDB market underscores the ongoing demand for public housing in Singapore.
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Antler, a global early-stage venture capital firm based in Singapore, has announced a $7.4 million investment in startups across Southeast Asia during the first half of 2025. Of this, $2.8 million is allocated to seven AI startups graduating from its AI Disrupt residency in Singapore, a four-week programme designed to accelerate AI companies already serving live customers.

The AI Disrupt residency provides each participant with $400,000 in funding and access to over $650,000 in AI-specific cloud computing, infrastructure, and tooling credits. This initiative underscores Antler’s commitment to supporting high-velocity AI ventures, reinforcing its position as the world’s most active AI investor, following 74 AI investments globally in 2024.

Winnie Khoo, Partner at Antler, highlighted the rapid pace of AI development, stating, “AI startups are moving 10x faster than just 2 years ago, and AI Disrupt is purpose-built for founders with market-validated products to move and scale much faster.”

The selected startups include Iris, Nugen, IndustrialMind.ai, Lambdai Space, Anamaya AI, AppSecAI, and 5.Y (GLUCOSE), each focusing on innovative AI solutions across various industries. Despite a challenging funding environment in Southeast Asia, marked by a 68% decline in seed funding, Antler remains confident in the potential of emerging technologies to drive regional growth.

Jussi Salovaara, Co-founder and Managing Partner Asia at Antler, remarked, “We are prepared to match their speed and provide flexible early capital that enables them to accelerate, but we are also more selective.” Applications for the next AI Disrupt residency, starting on 21 October 2025, are now open.
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