Regional News

Gentle Monster has reopened its flagship store at Marina Bay Sands, Singapore, unveiling a larger and more immersive space on 1 August 2025. The reopening event featured a special appearance by Korean celebrity Kim Min-Gyu and was attended by media, fashion, and culture tastemakers. The store now offers an enhanced experience with its unique artistic installations.

The centrepiece of the new store is the GIANT HEAD KINETIC OBJECT, an installation created by the Gentle Monster Robotics Lab. This striking piece features three sculptural heads in constant motion, each expressing subtle shifts in thought and emotion. It embodies the brand’s interest in cognitive perception and artistic storytelling, offering visitors a dynamic and engaging experience.

The Marina Bay Sands flagship is located at 2 Bayfront Avenue, with the store occupying units #B1-146 and L1-66/67 at The Shoppes. This reopening marks a significant milestone for Gentle Monster as it continues to expand its presence in Singapore, with another store located at ION Orchard.

Gentle Monster’s renewed flagship store not only enhances the shopping experience but also reinforces the brand’s commitment to blending art and retail. The innovative design and installations are expected to attract both local and international visitors, further solidifying Singapore’s reputation as a fashion and cultural hub.
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CapitaLand Ascendas REIT (CLAR) has announced a stable distributable income of S$331.1 million for the first half of 2025, marking a 0.1% increase year-on-year. Despite a slight decline in Distribution per Unit (DPU) to 7.477 Singapore cents, the REIT’s portfolio remains robust, with a healthy occupancy rate of 91.5% and a positive rental reversion of 9.5% on renewed leases.

The REIT’s strategic acquisitions and redevelopments are set to enhance its portfolio. Notably, the acquisition of three properties in Singapore and the US, valued at S$878 million, and the completion of the 1 Science Park Drive redevelopment for S$300.2 million, are expected to contribute to long-term returns. William Tay, CEO of the Manager, highlighted the strength of CLAR’s diversified portfolio amidst macroeconomic uncertainties, stating, “This underscores the continued strength of our diversified portfolio, operational management and disciplined execution of our capital management strategies.”

In 1H 2025, CLAR completed the acquisition of the DHL Indianapolis Logistics Centre in the US for S$153.4 million. Additionally, the acquisitions of 9 Tai Seng Drive and 5 Science Park Drive in Singapore, totalling S$724.6 million, were approved by unitholders and are expected to be completed in the second half of 2025. These properties are fully leased and will further strengthen CLAR’s income stream.

The REIT’s proactive capital recycling strategy saw the divestment of Parkside in Portland, US, for S$26.5 million, achieving a 45% premium over its market valuation. With a portfolio worth S$16.8 billion, CLAR continues to focus on value-adding initiatives and maintaining a healthy financial position, with an aggregate leverage of 37.4% and a stable cost of debt at 3.7%.
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CapitaLand Integrated Commercial Trust (CICT) has announced its acquisition of the remaining 55% interest in the commercial component of CapitaSpring for $770 million (S$1,045 million). This strategic move, revealed on 5 August 2025, is set to bolster CICT’s leadership in Singapore’s commercial real estate sector, promising a distribution per unit (DPU) accretion of 1.1%.

CICT’s acquisition is based on an agreed property value of $1,400 million (S$1,900 million). The premium Grade A office tower, located in Raffles Place, is a key asset in Singapore’s Central Business District. The acquisition is expected to enhance CICT’s income, supported by the resilience of Singapore’s office market. The transaction will increase CICT’s Singapore exposure from approximately 94% to 95% of its portfolio property value.

Chairman of CICTML, Teo Swee Lian, emphasised the strategic importance of the acquisition, stating, “CICT’s full ownership of CapitaSpring’s office tower underscores our commitment to long-term value creation.” The acquisition is part of CICT’s broader strategy to pursue opportunities that enhance portfolio value and deliver sustainable returns to unitholders.

In addition to the acquisition, CICT reported a 12.4% increase in distributable income for the first half of 2025, reaching $303 million (S$411.9 million). This growth is attributed to contributions from ION Orchard and improved performance from existing properties. CEO Tan Choon Siang highlighted the Trust’s proactive management, noting, “Our first-half results underscore the strength and resilience of CICT.”

Looking forward, CICT plans to commence new asset enhancement initiatives at Lot One Shoppers’ Mall and Tampines Mall in the fourth quarter of 2025, aiming to unlock further asset potential.
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Aspire, a leading finance platform for modern businesses, has announced the return of its flagship event, Founders Night, set to take place on 4 September 2025 in central Singapore. The invite-only gathering, themed “The Champions Arena,” will bring together over 200 funded startup founders, investors, and ecosystem leaders. This year’s theme draws inspiration from elite athletes, highlighting the resilience and execution required to build successful ventures.

Visa joins as the platinum sponsor, aligning with Aspire’s mission to support the next generation of business leaders. Previous editions have seen backing from prominent partners such as Amazon Web Services, Remote, Carta, and Singapore Global Network.

Andrea Baronchelli, co-founder and CEO of Aspire, stated, “Founders Night was born as a tribute to the builders behind the most innovative companies. It’s not a typical networking event or a panel. It’s a moment for founders to come together, celebrate each other, and acknowledge the challenges and triumphs that come with building something from the ground up.”

The event is part of FoundersXchange, Aspire’s global community of 700 startup founders, offering curated events, startup perks, and direct venture capital connections. Aspire, headquartered in Singapore, supports over 50,000 companies worldwide with its finance solutions and recently achieved profitability after closing a $100m (£100m) Series C funding round in 2023.
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A new musical comedy, Congratulations Get Rich, is set to captivate audiences with its unique blend of supernatural elements and Singaporean culture. Presented by the Singapore Repertory Theatre in collaboration with La Boite Theatre and Sydney Theatre Company, the production will run from 29 October to 9 November 2025 at the Drama Centre Theatre.

The musical centres on a reunion dinner that takes an unexpected turn as ghosts return and family secrets are revealed. The story focuses on three compelling women, exploring the complexities of familial relationships amidst the chaos and humour of a supernatural encounter. The production promises a mix of witty humour and emotional depth, making it a memorable experience for theatre-goers.

Charlotte Nors, Managing Director of the Singapore Repertory Theatre, is overseeing the production, which aims to showcase the vibrant spirit of Singaporean life. The collaboration with international theatre companies highlights the global appeal and cultural richness of the story.

Congratulations Get Rich is expected to resonate with audiences through its timely themes and engaging narrative. The production not only entertains but also offers a reflection on the dynamics of family and the unexpected twists life can bring. As the show opens, it promises to be a standout addition to Singapore’s theatrical offerings, blending local flair with universal themes.
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Ong Beng Seng, a prominent figure, pleaded guilty on 4 August 2025 to a charge of abetting the obstruction of justice. This charge falls under Section 204A, read with Section 109 of the Penal Code. Additionally, another charge under Section 165, also read with Section 109, was considered during sentencing.

The case highlights the legal implications of obstructing justice, a serious offence under Singaporean law. Ong’s admission of guilt underscores the importance of upholding judicial processes and the consequences of interfering with them. The charges reflect the severity with which such offences are treated, aiming to maintain the integrity of legal proceedings.

The court’s decision to consider an additional charge during sentencing indicates the comprehensive approach taken in addressing the matter. This case serves as a reminder of the legal responsibilities individuals hold and the potential repercussions of failing to adhere to them.

As the legal process unfolds, the implications of Ong’s guilty plea will be closely monitored, with potential impacts on his professional and personal life. The case reinforces the message that justice must be upheld without interference, ensuring fairness and transparency in legal matters.
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Monaco, Geneva, and Singapore have emerged as the most active markets for super prime property sales, according to recent research by Jefferies London. The study, which analysed 17 global hotspots, found that Monaco leads with 56.7% of homes listed at £3 million or more. Geneva follows with 40.7%, whilst Singapore reports 21.2% of its listings at this prime price point.

The research highlights the ongoing demand for high-value properties in these cities, despite a turbulent global economic landscape. Other notable markets include Los Angeles and New York, with 10.2% and 7.5% of listings, respectively, meeting the £3 million threshold. London, a traditional hub for prime properties, ranks seventh, with 5.6% of its listings priced at £3 million or more.

Damien Jefferies, founder of Jefferies London, remarked, “The global economic landscape may be turbulent at best, but we continue to see real estate at the very top tiers of the global market change hands.” He emphasised the timeless appeal of these markets, noting that whilst values may fluctuate, their allure remains strong for exclusive buyers.

The findings underscore the significance of these cities as focal points for both domestic and international buyers, driven by their status as financial and cultural centres. As market dynamics evolve, these prime property hotspots are expected to maintain their prominence in the global real estate landscape.
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The Westin Singapore has announced its “Move Well Marathon Package” for participants of the Standard Chartered Singapore Marathon (SCSM) 2025. Available from 4 to 8 December 2025, the package aims to enhance runners’ performance and wellbeing with a range of luxurious amenities, including a stay in a Deluxe Room, daily breakfast at Seasonal Tastes, and access to the Heavenly Spa by Westin.

Located in the heart of Singapore’s Central Business District and Marina Bay, The Westin Singapore provides easy access to scenic running routes and the marathon’s flag-off venue. The package includes a Next Generation Heavenly Bed for restorative sleep, a Hyperice Gear Lending Kit, and an ice bath at PURE Fitness for active recovery. Guests can also enjoy the WestinWORKOUT Fitness Studio and receive exclusive Westin Bear merchandise.

The initiative aligns with Westin’s “Move Well” pillar, focusing on helping guests maintain balance and energy whilst travelling. Additionally, The Westin Singapore has partnered with the Singapore Disability Sports Council as its official beneficiary, supporting para-athletes across various sports. Guests can contribute by purchasing exclusive charity shirts through the hotel’s e-shop.

The Westin Singapore, occupying levels 32 to 46 of Asia Square Tower 2, offers 305 guestrooms and suites, four dining venues, and an outdoor infinity pool. This package not only enhances the marathon experience but also supports a charitable cause, providing a holistic approach to wellness and community engagement.
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Keppel REIT has maintained a ‘buy’ rating from UOB Kay Hian, with a target price of S$1.18, reflecting a 21.6% upside from its current share price of S$0.97. The real estate investment trust, which focuses on premium grade A office buildings across Asia Pacific, reported a positive rental reversion of 12.3% for the first half of 2025, driven by strong demand in Singapore and Australia.

The REIT’s portfolio, valued at S$9 billion, includes properties in key financial districts in Singapore, Australia, South Korea, and Japan. Notably, Keppel REIT has successfully backfilled vacancies at Ocean Financial Centre in Singapore and 255 George Street in Sydney, contributing to a net property income growth of 13.4% year-on-year in Australia.

Keppel REIT’s strategic positioning benefits from Singapore’s growing stature as a financial hub, with the city-state’s reciprocal tariffs and trade agreements enhancing its appeal. The REIT’s portfolio occupancy remains stable at 95.9%, with a weighted average lease expiry of 4.8 years, indicating long-term tenant commitments.

The REIT’s financial metrics remain robust, with a distribution yield of 6.9% projected for 2026, and a price-to-net asset value ratio of 0.80x. The management, led by CEO Chua Hsien Yang, is considering equity fundraising for potential acquisitions in Japan to further optimise its leverage.

Keppel REIT’s continued focus on high-quality assets and strategic market positioning is expected to support its growth trajectory, with full-year contributions from recent acquisitions anticipated to enhance its financial performance.
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Oiltek International, a leading Agri-Tech and renewable energy solutions provider, has reported record-high earnings for the first half of 2025, with a net profit of RM14 million, marking a 38% year-on-year increase. The company’s performance was bolstered by strong margin expansion in its refinery segment, despite a flat revenue of RM101 million compared to the previous year. The results, which account for 41% of the full-year forecast, were in line with expectations, as the first half typically contributes 35-40% of annual performance.

The company’s gross profit surged by 39% to RM32.4 million, with a gross margin increase of 12.8 percentage points, largely due to contributions from its edible and non-edible oil refinery segment. Oiltek has also declared a 67% higher interim dividend, reflecting its strong financial health and commitment to shareholder returns.

Oiltek’s robust orderbook, valued at RM332.5 million as of 30 July 2025, underscores its earnings visibility and positive outlook, says UOBKayHian. The company is well-positioned to capitalise on the growing global demand for oils and fats, as well as the increasing investments in biodiesels and sustainable aviation fuel (SAF). The global fats and oils market is projected to grow significantly, providing ample opportunities for Oiltek to expand its market presence.

UOBKayHian maintained its “Buy” rating, with a revised target price of S$1.05, up from S$0.86, based on a 33x 2026 forecast price-to-earnings ratio. This adjustment reflects the company’s improved trading liquidity and potential dual listing, which could enhance investor access and support a re-rating. Looking ahead, Oiltek is poised to benefit from higher-than-expected order wins and improved gross margins, driven by economies of scale.
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