Regional News

The Lion-OCBC Securities Singapore Low Carbon ETF, which invests in Singapore-affiliated companies with a low-carbon focus, has seen significant growth since its launch in April 2022. By July, the ETF had achieved a 50% total return, with an annualised return of 13% as of 6 August. This performance is indicative of the growing interest in sustainable investments, particularly among younger investors.

The ETF tracks the iEdge-OCBC Singapore Low Carbon Select 40 Capped Index, which includes 19 Straits Times Index (STI) stocks, 13 Singapore-listed mid-caps, and eight Singapore-affiliated stocks listed abroad. Notably, the ETF’s expense ratio is capped at 0.45% per annum, making it an attractive option for cost-conscious investors.

Digital platforms and dollar cost averaging (DCA) plans have facilitated access to the ETF, contributing to its assets under management (AUM) growth. The ETF’s total net asset value has reached $63.5 million (S$86.3 million), with $7.4 million (S$10 million) in net inflows this year alone. The ETF’s diversified exposure and low-carbon tilt resonate with investors prioritising sustainability.

The ETF’s portfolio includes prominent Singapore-affiliated companies such as Sea, Trip.com Group, and iFAST Corporation. iFAST, in particular, has seen a significant net institutional inflow following its strong financial performance in the first half of 2025, with a 34.7% increase in net profit compared to the previous year.

As the ETF continues to attract investors, its focus on sustainability and accessibility through digital platforms positions it well for future growth.
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Rex International Holding Limited, an oil exploration and production company, announced its financial results for the first half of FY2025, revealing a revenue of $154.5 million. This figure shows a slight decline from the $158.67 million reported in the same period last year. Despite the stable revenue, the company experienced a loss after tax of $29.65 million, attributed mainly to tax expenses and non-cash items such as depletion and impairment losses.

The company’s production averaged 11,208 barrels per day in the first half of 2025, an increase from 10,934 barrels per day in the previous year. However, the revenue was impacted by a decrease in average crude oil sale prices. John d’Abo, Executive Director and Chairman of Rex, noted that the increased volume of oil lifted and sold resulted in higher depletion costs, amounting to $50.71 million.

Looking ahead, Rex plans to ramp up drilling and production activities in Oman, Norway, Germany, and Benin. The company is also exploring debt financing alternatives to support these initiatives. Lime Petroleum Holding AS, a subsidiary, raised approximately $9.17 million through bonds listed on the Oslo Stock Exchange to aid financial independence.

Rex remains committed to expanding its production and reserves portfolio. In Norway, the company is involved in a drilling campaign at the Brage Field, whilst in Benin, its subsidiary has commenced drilling in the Sèmè Field. Plans are also underway for drilling in Germany’s Erfelden area, aiming to boost production by early 2026.
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Frasers Property Limited reported $1.4 billion for the nine months ending 30 June 2025 in pre-sold residential revenues from Singapore, Australia, Thailand, and China, highlighting its strategic focus on long-term value creation amidst challenging macroeconomic conditions.

In residential development, Frasers Property achieved notable sales, including 712 units in Singapore with $0.4 billion in unrecognised revenue. The Robertson Opus sold 41% of its units over its launch weekend, whilst The Orie achieved a 91% sales rate. In Australia, 774 units were settled, contributing to $0.5 billion in unrecognised revenue. Thailand and China also saw substantial sales and revenue.

The industrial and logistics sector experienced robust demand, with nine projects completed across Australia and Europe, and significant developments in Thailand and Vietnam. The hospitality division expanded with six new openings in China and Vietnam, including the Group’s first premium rental offering in China, Modena by Fraser Shenzhen.

Frasers Property’s investment properties maintained high occupancy rates, with Singapore’s retail portfolio reaching 99.6%. The Group also engaged in active portfolio management, divesting a 50% stake in Northpoint City South Wing and forming a joint venture for a $503 million portfolio in Australia.

Looking ahead, Frasers Property remains committed to navigating global economic uncertainties and enhancing capital efficiency. The Group’s strategic pillars focus on creating, sustaining, and unlocking value, with an emphasis on sustainability and ESG trends. The launch of its Climate and Nature Transition Plan in June 2025 underscores its dedication to managing climate risks and opportunities.
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IREIT Global, a Europe-focused real estate investment trust, has announced a 26% year-on-year decrease in its distribution per unit (DPU) for the first half of 2025, amounting to €0.71 cents. This decline is attributed to the full vacancy at Berlin Campus, which began on 1 January 2025, as the property undergoes a significant repositioning project. The construction works commenced in the second quarter of 2025, following the acquisition of necessary permits and Unitholders’ approval.

Gross revenue for the period fell by 27.5% to €26.6 million, whilst net property income decreased by 33.3% to €18.0 million. The absence of income from dilapidation costs, previously paid by the main tenant at Berlin Campus in 1H2024, further contributed to the decline. Despite these challenges, IREIT’s CEO, Peter Viens, expressed optimism, stating, “IREIT’s portfolio has continued to display resilience. We are heartened with the progress made at strengthening IREIT’s portfolio through our leasing efforts at the Spanish portfolio.”

The Spanish Portfolio saw an increase in occupancy from approximately 77% to 80%, with new leases and extensions covering over 7,000 square metres. Meanwhile, the repositioning of Berlin Campus is supported by the issuance of S$85 million in green notes, and long-term leases have been secured with hospitality operators for 24% of the lettable area.

Looking forward, IREIT is in advanced discussions to refinance its German and Spanish portfolios, aiming to extend debt maturity to July 2027. The European real estate market is anticipated to improve, bolstered by supportive fiscal policies, although financial volatility and geopolitical tensions may pose challenges.
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DBS has announced its second quarter (Q2) 2025 results, showcasing a robust performance with a 6% upside potential and a target price of SGD52.80, according to RHB’s report. The bank’s balance sheet growth and strategic hedges have contributed to its resilience compared to peers. The management is optimistic about maintaining the 24 Singapore cents step-up in annual dividends per share (DPS) for 2026, reinforcing its commitment to capital returns and dividend policies.

DBS’s strong earnings delivery is attributed to its strategic initiatives, which have positioned the bank favourably amidst market challenges. The bank’s focus on capital returns and dividend commitments remains a key thesis for investors. “DBS’ 2Q25 results were in line, as balance sheet growth and hedges put in place has helped the bank post a set of numbers that is relatively more resilient vs peers,” stated the Singapore Research team.

The announcement is significant as it highlights DBS’s ability to navigate economic uncertainties whilst ensuring shareholder value through consistent dividend growth. This approach not only strengthens investor confidence but also sets a benchmark for other financial institutions aiming for sustainable growth.

Looking ahead, DBS’s strategic focus on maintaining robust financial health and delivering shareholder value positions it well for future growth. The bank’s commitment to sustainable dividends is expected to continue attracting investor interest, reinforcing its status as a leading financial institution in the region.
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Millennium Hotels and Resorts (MHR) has been named Singapore’s most valuable hotel brand for the second consecutive year, according to the Brand Finance Hotels 50 2025 global ranking. With a brand value of $421 million, MHR has climbed three positions to 31st globally, reinforcing its leadership in the hospitality sector. The combined brand value of Millennium and its sister brand, Copthorne, now stands at $644 million.

MHR’s success is attributed to its strategic transformation, focusing on innovation, digital enablement, and guest-centric growth. Recent initiatives include the introduction of AI-powered assistants AVA and Ask Millie, full GSTC certification across all Singapore hotels, and an enhanced MyMillennium loyalty programme. The brand has also expanded its lifestyle offerings with the launch of M Social Resort Penang and upcoming openings in New York and Florida.

Kwek Leng Beng, Executive Chairman of City Developments Limited, emphasised the importance of brand strength in driving sustainable growth. “Developing a strong and reputable brand is my priority,” he stated. Alex Haigh, Managing Director Asia Pacific at Brand Finance, highlighted MHR’s focus on smart innovation and sustainability as key factors in its regional success.

Saurabh Prakash, Interim Chief Operating Officer and Chief Commercial Officer at MHR, noted that the brand’s achievements are the result of a deliberate strategy aligned with the company’s vision. With over 145 hotels in 80 destinations, MHR aims to expand to 500 hotels globally through strategic partnerships and innovation.
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Singaporeans are seizing the opportunity to travel during the SG60 National Day long weekend, with Trip.com reporting a 17% year-on-year increase in outbound travel bookings from 7 to 11 August. Popular destinations include Kuala Lumpur, Bangkok, and Shanghai, which are favoured for their accessibility and ease of travel.

Edmund Ong, General Manager of Trip.com Singapore, noted, “Singaporeans are always looking out for opportunities to travel, and with the upcoming National Day long weekend, more are making use of the extended holiday to take a quick trip overseas.” This trend is further supported by a surge in travel demand to cities like Seoul, Ho Chi Minh City, and Guangzhou, which have seen growth of up to 90% compared to last year.

The data highlights that Generation Z and Millennial travellers are driving this growth, with these groups recording 19% and 31% increases in bookings, respectively. Female travellers are also contributing significantly, with a 30% rise in travel demand.

As Singaporeans embark on these short to medium-haul trips, they are not only exploring new destinations but also fostering a sense of togetherness by celebrating National Day abroad. This trend underscores a growing enthusiasm for travel among Singaporeans, particularly during extended holiday periods.
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GYC Financial Advisory and UOB Asset Management have announced the launch of the 30-Second Film Awards (30SFA), a nonprofit competition open to all Singapore-based creators. Running from 1 June to 14 September 2025, the competition invites participants to create a 30-second film showcasing a real-life, heartwarming relationship between two people from different generations. The initiative, supported by the Nanyang Academy of Fine Arts and the University of the Arts Singapore, offers cash prizes totalling $14,000.

The competition is inspired by the theme of intergenerational relationships, a topic both firms excel in through wealth management and legacy planning. As Singapore approaches its statutory retirement age of 63, the competition aims to highlight the meaningful conversations and relationships that occur during the wealth transfer process. Jogoh, Head of Communications and Client Experience at GYC, emphasised the importance of these narratives, stating, “We want to honour what these individuals went through, their stories, precious lessons learnt, and communicate some of the essence of their life and values to their children and family.”

Participants face the challenge of conveying the essence of these relationships within just 30 seconds. James, Senior Associate at GYC, noted, “Given the decreasing attention span of society, we are excited to see what creatives can produce and the feelings they can evoke in just 30 seconds.”

The competition also aims to support the arts in Singapore, with registration fees, discounted for students, contributing to the competition and local charities. For more information, interested parties can visit the GYC or UOBAM websites.
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Schneider Electric Singapore and the Defence Science and Technology Agency (DSTA) have entered into a Memorandum of Understanding (MOU) to collaborate on green technologies and cybersecurity. The agreement focuses on deploying smart grid systems that integrate renewable energy sources and utilising digital twins to enhance building energy performance. Additionally, the partnership aims to bolster cybersecurity for Operational Technology systems, which are crucial for monitoring and controlling physical processes in facilities.

The collaboration is part of a broader effort to exchange best practices in sustainability and cybersecurity, ensuring resilient and future-ready operations. DSTA’s Director of Building and Infrastructure, Tan Tze Leng, highlighted the initiative’s alignment with DSTA’s sustainability goals, stating, “By working together with Schneider Electric to develop green technology, we are building smarter, more resilient infrastructure whilst sharpening our engineering expertise through knowledge sharing, joint solutioning, and exposure to emerging technologies.”

Yoon Young Kim, Cluster President for Singapore and Brunei at Schneider Electric, emphasised the impact of digital technologies, noting, “We have extensive data to show that digital technologies such as smart microgrids and building digital twins can reduce energy consumption, cut emissions, and lower costs. This collaboration is an encouraging demonstration of Singapore’s commitment to its net zero goal.”

This partnership not only underscores Singapore’s dedication to sustainability but also enhances its reputation for embracing technological advancements that improve citizens’ lives. As both organisations continue to innovate, the collaboration is expected to yield significant advancements in green technology and cybersecurity.
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LendLease Global Commercial REIT has reported a 10% year-on-year decline in its net property income (NPI) to SGD148.8 million for the full year, according to a recent report by DBS Group Research. The decline was attributed to a bad debt provision for Cathay, aligning with DBS’s estimates. Additionally, the distribution per unit (DPU) decreased by 6.9% to 3.60 Singapore cents.

The REIT’s strategic move to divest its JEM office for SGD462 million is expected to reduce its debt to 35% and improve its interest coverage ratio to 2.0 times. This divestment represents approximately 12% of the portfolio at book value, potentially re-rating the stock from its current 0.74 price-to-book ratio. Portfolio valuations saw a 2.2% increase, driven by an uplift at Sky Complex.

DBS Group Research maintains a “BUY” rating for LendLease Global Commercial REIT, with a target price of SGD0.75. The forward yields are considered attractive at 6.7%, presenting a promising opportunity for investors. The report highlights the REIT’s potential for growth and stability despite recent challenges.

The divestment and improved financial metrics are seen as positive steps towards enhancing the REIT’s overall performance and investor appeal. As the market continues to evolve, LendLease Global Commercial REIT’s strategic decisions could play a crucial role in its future trajectory.
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