Regional News

GreenTeams, a climate technology company focused on environmental governance in Indonesia, has successfully closed its Series A funding round, led by Oriza Greenwillow Technology Fund. This funding will enable GreenTeams to expand its real-time emissions and air quality monitoring technologies, supporting Indonesia’s Net Zero 2060 target.

The company plans to use the funds to scale its product innovation, enhance AI-powered monitoring platforms, and expand regionally. GreenTeams CEO, Wilson B Sutarko, expressed gratitude for the trust from partners, stating, “This funding allows us to deepen our national footprint, grow our team, and expand impact across multiple sectors.”

GreenTeams has established itself as a full-stack climate tech provider, with deployments in over 30 Indonesian provinces. Its flagship offerings, Continuous Emission Monitoring Systems (CEMS) and Air Quality Monitoring Systems (AQMS), provide real-time data capture and emissions tracking. In 2024, the company achieved 98% revenue growth, driven by regulatory enforcement and industry demand for ESG-aligned practices.

CK Tan, Managing Partner of Oriza Greenwillow Technology Fund, praised GreenTeams’ execution capability and commitment to sustainability, highlighting its role in building transparency and trust in environmental data.

With the new capital, GreenTeams plans to:
– Scale nationwide deployment of monitoring systems across various sectors.
– Advance AI-powered predictive tools for environmental forecasting.
– Expand data platform integrations for regulatory and industrial markets.
– Build capacity for regional expansion beyond Indonesia.

GreenTeams continues to drive scalable environmental impact through its innovative technologies and certified infrastructure, contributing to Indonesia’s Net Zero goals.
“`

Thakral Corporation’s investee company, GemLife Communities Group, has successfully debuted on the Australian Securities Exchange (ASX) under the ticker symbol ‘GLF’. On its first day of trading, GemLife’s securities price rose by 4.1% to A$4.33, achieving a market capitalisation of A$1.65b. The initial public offering (IPO) raised A$750m from 180.28 million stapled securities offered at A$4.16 each, making it the largest IPO in Australia this year.

GemLife, a leading operator of over-50s lifestyle resorts in Australia, plans to use the proceeds from the IPO to acquire the Aliria Group portfolio, which will expand its pipeline from approximately 6,500 homes to 9,836 homes. The funds will also be directed towards reducing debt, strengthening the balance sheet, and providing additional working capital.

Thakral, which holds a 16.8% stake in GemLife post-IPO, demonstrated its confidence in the company by subscribing for an additional 600,962 GemLife Stapled Securities at the IPO price. Inderbethal Singh Thakral, CEO and Executive Director of Thakral, expressed satisfaction with the listing, stating, “GemLife’s successful ASX listing represents the realisation of a strategic vision we have supported since inception.”

GemLife’s expansion is set to enhance its national footprint, with communities across Queensland, New South Wales, and Victoria. As the company continues to grow, Thakral aims to strengthen its strategic alignment and support GemLife’s journey in the over-50s lifestyle space.
“`

A recent study by IBM’s Institute for Business Value highlights a significant gap between AI ambitions and execution among Singaporean businesses. The study, which surveyed 2,000 CEOs globally, including 210 from Singapore and ASEAN, found that whilst AI investment is set to more than double in the next two years, only 14% of Singaporean firms have managed to scale AI initiatives across their entire enterprise.

The report reveals that 80% of Singaporean CEOs prioritise AI projects based on return on investment (ROI), yet only 23% have achieved the expected returns. This indicates a disconnect between investment priorities and realised outcomes. Additionally, 52% of CEOs acknowledge that rapid tech investments have resulted in fragmented technology stacks, complicating AI integration.

Abraham Thomas, Managing Partner at IBM Consulting ASEAN, noted, “Business leaders in ASEAN are under pressure to demonstrate ROI from AI whilst needing to invest in long-term capabilities to stay competitive.” He emphasised the importance of building adaptable data foundations and investing in talent to turn AI ambitions into tangible results.

The study also highlights the need for strategic leadership and specialised talent, with 75% of Singaporean CEOs linking organisational success to having a broad group of leaders with strategic insight. Furthermore, 48% of firms are hiring for AI roles that did not exist a year ago, reflecting the evolving landscape of AI expertise.

In conclusion, whilst Singaporean businesses are investing heavily in AI, the challenge remains to effectively scale these initiatives and realise their full potential. The findings suggest a need for improved data infrastructure and strategic talent development to bridge the gap between AI ambition and execution.
“`

The Singapore Institute of Purchasing and Materials Management (SIPMM) has released the June 2025 Purchasing Managers’ Index (PMI), revealing a slight increase in manufacturing activity. The PMI, a key indicator of the economic health of the manufacturing sector, rose to 50.3, marking the fourth consecutive month of expansion. A PMI reading above 50 indicates growth, whilst a reading below 50 signals contraction.

This growth is attributed to increased new orders and higher production output, reflecting a positive outlook for the sector. The electronics sector, a significant component of Singapore’s manufacturing industry, also showed improvement with a PMI reading of 50.8. This marks a notable recovery from previous months, driven by a rise in global demand for electronic components.

The SIPMM noted that the improvement in the electronics sector is crucial for sustaining overall manufacturing growth. “The electronics sector’s performance is a vital contributor to the manufacturing industry’s expansion,” the institute stated.

The PMI’s positive trajectory suggests that Singapore’s manufacturing sector is on a path to recovery, bolstered by both domestic and international demand. However, the SIPMM cautioned that external factors, such as global supply chain disruptions and geopolitical tensions, could pose challenges in the coming months.

In summary, the June PMI reflects a cautiously optimistic outlook for Singapore’s manufacturing sector, with continued growth anticipated if current trends persist. The sector’s performance will be closely monitored in the coming months to assess the impact of external economic conditions.
“`

Tesa, a global leader in adhesive solutions, has inaugurated its cutting-edge Debonding on Demand laboratory in Singapore. This strategic initiative, in partnership with A*STAR, Singapore’s leading public research agency, is set to accelerate the development of advanced adhesive technologies, particularly for the automotive and electronics industries. The lab will focus on creating high-performance, removable adhesives that align with sustainable manufacturing practices.

The collaboration between tesa and A*STAR is designed to bolster Singapore’s status as a hub for innovation in sustainable and circular manufacturing. The lab will not only advance product development but also contribute to the local ecosystem through knowledge transfer and talent development. This aligns with Singapore’s Green Plan 2030, which emphasises sustainable growth.

The launch event was attended by key figures, including tesa CEO Norman Goldberg and A*STAR CEO Beh Kian Teik. A Memorandum of Understanding was signed to further the advancement of debonding-on-demand technology. Goldberg stated, “Our Debonding on Demand technologies will be a future game-changer, enabling strong, durable bonds that can be easily removed on demand.”

The lab will initially test up to 20 new concepts, with successful ones being scaled up to meet customer needs. This initiative is expected to create an innovation bridge between European engineering and Asian technological leadership, enhancing tesa’s global services.

As operations commence, the lab is poised to make significant contributions to the circular economy, offering new perspectives on product design and lifecycle management.
“`

Private home prices in Singapore experienced a slight increase of 0.5% quarter-on-quarter in the second quarter of 2025, as reported by the Urban Redevelopment Authority (URA). This follows a 0.8% rise in the first quarter of the year. The growth was primarily driven by price increases in the Core Central Region (CCR) and Outside Central Region (OCR), which saw rises of 2.3% and 0.9% respectively. However, the Rest of Central Region (RCR) experienced a 1.1% decline.

The Housing Development Board (HDB) resale price index also saw a 0.9% increase in the same period, contributing to a 2.5% appreciation in the first half of 2025. Despite a quieter resale market, with an 11.7% year-on-year drop in sales volumes to 4,340 units, the primary home sales market remains robust. Sales for the first five months of 2025 surged by 157% year-on-year to 4,362 units.

Looking ahead, the market is expected to be bolstered by a strong launch pipeline, with an additional 5,000 units anticipated for the remainder of 2025. Notable upcoming launches include the 343-unit Lyndenwoods and UPPERHOUSE at Orchard Boulevard. Additionally, the government has released land sites for 4,725 residential units under its confirmed list in the second half of 2025.

The sector remains neutral amidst a slower macroeconomic outlook and tariff uncertainties, which could temper buying sentiment. However, UOL Group is highlighted as a preferred sector pick due to its strong balance sheet and potential for value creation through acquisitions and asset enhancements.
“`

Oiltek International Limited, listed on the SGX Mainboard, is in discussions to participate in a Sustainable Aviation Fuel (SAF) pilot plant in Sarawak. The project, spearheaded by SEDC Energy, a subsidiary of the Sarawak Economic Development Corporation, aims to establish a 15 kilotonnes per annum (15KTA) plant using Sulzer’s bioflux technology. Apeiron Bioenergy, Asia’s largest used cooking oil collector, will supply the waste feedstock.

The initiative reflects Sarawak’s ambition to contribute to global aviation decarbonisation efforts and enhance its domestic clean fuel manufacturing capabilities. “This initiative reflects Sarawak’s intent to contribute meaningfully to global aviation decarbonisation efforts,” stated Sulzer. The project also aligns with the International Civil Aviation Organisation’s Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), which mandates CO2 emission offsets for international flights by 2027.

Oiltek Sdn Bhd, a subsidiary of Oiltek International, is currently engaged in discussions with SEDC Energy. However, no definitive agreements have been reached, and no formal plans have been approved by Oiltek’s Board. The company advises shareholders to exercise caution and avoid speculative actions regarding their investments.

The SAF plant is part of Sarawak’s broader strategy to position itself as a future energy hub. By leveraging partnerships with global leaders like Sulzer and Apeiron Bioenergy, Sarawak aims to develop a sustainable UCO collection ecosystem and enhance its hydrogen value chain. The project underscores the region’s commitment to renewable energy and circular economy development.
“`

MoneyHero Group has unveiled the inaugural SingSaver Best-Of Awards, an annual programme designed to recognise excellence in personal financial products across Singapore. The awards, which will evaluate 45 products in categories such as credit cards, digital banks, investments, and insurance, aim to simplify financial decision-making for Singaporeans by highlighting products that offer exceptional value.

The evaluation process will involve a rigorous assessment by the MoneyHero team and a panel of local personal finance influencers. Criteria include annual fees, interest rates, sign-up incentives, rewards, user experience, and policy flexibility. The winners will be announced at a gala dinner on 17 July 2025 in Singapore, bringing together financial institutions, industry influencers, and media.

Rohith Murthy, CEO of MoneyHero, stated, “The inaugural SingSaver Best-Of Awards reflect our decade-long legacy of helping Singaporeans make informed financial choices. We aim to highlight products that enhance consumers’ financial wellbeing through exceptional value and user experience.”

Following the Singapore launch, MoneyHero plans to expand the awards programme to Hong Kong, the Philippines, and Taiwan annually. This initiative underscores MoneyHero’s commitment to spotlighting the best financial products and services, providing invaluable guidance to consumers across the region. For more details on the awards and shortlisted products, visit SingSaver’s official website.
“`

Singapore-based Global Finance & Technology Network (GFTN) has announced the appointment of Queen Máxima of the Netherlands as Chair of its International Advisory Board (IAB), effective 1 July 2025. Joining her are Agustín Carstens, former General Manager of the Bank for International Settlements, and Sanjiv Bajaj, Chairman of Bajaj Finserv.

This marks a significant milestone for GFTN, a Singapore-based not-for-profit organisation dedicated to fostering efficient and inclusive financial systems through technology and innovation.

Queen Máxima, known for her role as the United Nations Secretary-General’s Special Advocate for Financial Health, has been a prominent figure in promoting accessible financial systems globally. Her efforts have particularly focused on underserved groups, including low-income households and smallholder farmers. “Their visionary leadership, breadth of experience and steadfast commitment to advancing financial innovation and inclusion will be invaluable for GFTN,” stated Ravi Menon, Chairman of the Board of Directors at GFTN.

Agustín Carstens brings extensive experience in both national and international finance, having led Mexico through economic challenges as governor of Banco de México. His global influence was further solidified during his tenure at the International Monetary Fund and the Bank for International Settlements, where he championed central banking modernisation.

Sanjiv Bajaj, a leading figure in India’s financial sector, has transformed Bajaj Finserv into a diverse financial services group. His digital-first approach has revolutionised access to financial products for millions in India.

The appointments are expected to drive GFTN’s mission of creating a more inclusive financial ecosystem, with a focus on innovation and sustainability.
“`

Cisco has unveiled a global study highlighting a significant shift in enterprise network architecture driven by AI, IoT, and cloud technologies. The study reveals that 97% of companies in Singapore consider a modernised network essential for deploying these technologies, with 92% planning to increase their IT budget for networking.

The research underscores the growing demand for resilient networks as AI intensifies network traffic complexity. Notably, 70% of businesses have experienced major outages, costing up to $160 billion globally per severe disruption annually. These outages are primarily caused by congestion, cyberattacks, and software misconfigurations.

The study also indicates that modern networks are pivotal in unlocking business value. A substantial 91% of respondents believe improved infrastructure will drive revenue, whilst 95% anticipate significant cost savings from smarter, more secure networks. Furthermore, 99% of IT leaders view autonomous, AI-powered networks as vital for future growth, although only 46% have implemented such capabilities.

Tay Bee Kheng, President of Cisco ASEAN, stated, “As businesses in Singapore and around the world harness the power of AI, the network is the critical backbone that makes it all possible. To meet the needs of tomorrow’s businesses and protect against evolving threats, today’s networks must be faster, smarter, and more resilient.”

The findings suggest that IT leaders are already realising financial benefits from current networks by enhancing customer experiences, boosting efficiency, and fostering innovation. However, the potential for growth and savings remains at risk without infrastructure designed for AI and real-time scale. As enterprise networks undergo this architectural shift, the C-suite is increasingly relying on IT leaders to spearhead these changes.
“`