Regional News

In the first five months of 2025, 63 primary-listed companies on the Singapore Exchange (SGX) have engaged in share buybacks totalling $930m, a significant rise from the $505m recorded during the same period in 2024. This surge represents the highest level of buybacks for the first five months of a year since 2020, driven largely by market volatility in April.

The month of May alone saw S$176m in buybacks, with United Overseas Bank (UOB) leading the charge, purchasing $144m worth of shares at an average price of $35.329. DBS Group Holdings and Olam Group followed, with buybacks of $18m and $6m respectively. UOB has been particularly active, buying back $253m of its shares over the past five months.

Secondary-listed companies have also been active, with Hongkong Land repurchasing $55m (US$55m) of its shares under a $200m (US$200m) programme set to conclude by the end of the year. ESR REIT and Stoneweg European REIT have continued their buyback activities, aiming to enhance financial metrics such as Return on Equity (ROE) and Net Asset Value (NAV).

The buyback trend is largely attributed to companies seeking to manage excess capital and improve financial ratios. According to ACRA, buybacks can enhance Earnings per Share (EPS) and ROE, whilst capitalising on perceived undervaluation of shares.

The Straits Times Index (STI) banks have been particularly prominent, accounting for 77% of the total buybacks, as they continue to return surplus capital through these programmes. DBS Group Holdings launched a $3m buyback initiative in 2024, with UOB and Oversea-Chinese Banking Corporation following suit in early 2025.
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CIMB Singapore and Wing Bank (Cambodia) Plc have announced a strategic partnership through a memorandum of understanding (MoU) to enhance cross-border financial services between Singapore and Cambodia. This collaboration seeks to deepen economic ties within ASEAN by leveraging CIMB’s regional expertise and Wing Bank’s local leadership.

The alliance is set to deliver seamless financial solutions for a diverse range of clients, including commercial enterprises, small and medium-sized enterprises (SMEs), and high-net-worth individuals. Dr. Dmytro Kolechko, CEO of Wing Bank, stated, “Teaming up with CIMB Singapore allows us to bring world-class financial solutions to our customers whilst deepening Cambodia’s economic integration with Singapore.”

Victor Lee Meng Teck, CEO of CIMB Singapore, highlighted the importance of this partnership, noting, “Our collaboration with Wing Bank reflects CIMB’s commitment to advancing financial inclusion and economic progress across ASEAN.”

A key focus of the partnership is to empower Cambodian SMEs, which account for 98% of businesses, 70% of employment, and 58% of GDP in Cambodia. The collaboration will offer tailored banking solutions, including deposits, loans, remittances, and trade finance, to support the growing demand from cross-border businesses.

In 2024, trade between Cambodia and Singapore surged to $103 million, marking a 101% year-on-year growth. This partnership aims to further streamline financial services, facilitating smoother cross-border transactions and business growth.

For high-net-worth individuals, the partnership will leverage CIMB Singapore’s wealth management capabilities alongside Wing Bank’s local expertise to offer sophisticated investment solutions tailored to Cambodia’s evolving financial landscape. This alliance marks a significant step towards a more interconnected ASEAN, fostering innovation, inclusion, and sustainable growth.
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Lazada is set to captivate shoppers with its 6.6 Super Wow Sale, running from 5 June at 8:00PM SGT to 8 June at 11:59PM SGT. The event promises a blend of exclusive deals, AI-driven shopping experiences, and interactive features, aiming to enhance the online shopping journey for customers across Southeast Asia.

The sale will feature over 300 brands spanning sports, beauty, fashion, electronics, and home essentials. Shoppers can look forward to “Epic Price Drops” with items available at $1.22 (S$1.66), $11.76 (S$16), $48.53 (S$66), $122.07 (S$166), and $1,222.07 (S$1,666) during specific time slots. Additionally, “LazFlash Deals” will offer discounts of up to 90% on top-selling products, with further savings available through seller vouchers.

A standout feature of the sale is the AI LazzieChat Hunt, where Lazada’s AI shopping assistant, AI Lazzie, will help users unlock surprise vouchers and provide personalised product recommendations. Participants have the chance to win up to $64.66 (S$88) in LazCash.

The event also includes TikTok Bingo Nights from 2 to 6 June, offering interactive games and prizes worth up to $7,346.59 (S$10,000), including an Apple iPhone 16. Adidas, the main apparel sponsor for the upcoming Lazada Run 2025, will provide exclusive deals on performance gear.

Lazada’s Change of Mind Return Option ensures a hassle-free shopping experience, allowing easy returns with free pick-up or drop-off. Shoppers can access the sale via Lazada.sg or the Lazada app.
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Capella Singapore is set to host an exclusive cocktail event, Constellation of Cocktails, in collaboration with Capella Hanoi’s The Hudson Rooms, recognised amongst Asia’s 50 Best Bars 2024. This two-night pop-up will take place at The Pineapple Room on 6 and 7 June 2025, from 6 p.m. to 11 p.m., offering guests a unique cocktail experience inspired by the glamour of 1920s New York.

The event will feature a curated selection of signature cocktails from The Hudson Rooms, including their rendition of the Old Fashioned, which combines Glenlivet 18-Year-Old Single Malt Scotch, Caol Ila 12-Year-Old Single Malt, Oloroso, smoked honey, bitters, and an oyster infusion. Other highlights include the 61 Martini, a tropical twist on the classic Martini, and the 61 Highball, a refreshing mix of Michter’s Rye and Jasmine & Coconut Soda.

Guests will also enjoy innovative cocktails like the Warbonnet Locomotive, a bold fusion of Mezcal, Aperol, Pink Pepper, and citrus. These drinks will be complemented by new table snacks at The Pineapple Room, such as tramezzini with avruga caviar, mushroom arancini, and five-spiced fried chicken.

The Pineapple Room, located within the historic Tanah Merah Building, offers a blend of heritage charm and modern elegance, making it an ideal setting for this collaboration. This event promises to be a celebration of cocktail artistry and craftsmanship, inviting guests to indulge in the unique flavours and hospitality of Capella’s iconic destinations.
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Singapore and France have signed an Enhanced Maritime Partnership Agreement, marking a significant step in maritime cooperation between the two nations. The agreement was signed by French Minister for Transport Philippe Tabarot and Singapore’s Acting Minister for Transport and Senior Minister of State for Finance Jeffrey Siow during President Macron’s State Visit to Singapore. This partnership elevates the relationship between the countries to a Comprehensive Strategic Partnership.

The Maritime and Port Authority of Singapore (MPA) and the Directorate General for Maritime Affairs, Fisheries and Aquaculture (DGAMPA) will collaborate on initiatives focusing on maritime decarbonisation, digitalisation, cybersecurity, innovation, and training. This builds on a previous partnership established in 2021.

Key projects include developing a bio-methane supply chain and certification framework to align with sustainability standards. A bio-methane bunkering trial in Singapore, involving shipping company CMA CGM, is also planned. On digitalisation, MPA will work with HAROPA PORT and the Port of Marseille-Fos to enhance port call optimisation and maritime digitalisation, including trials on ship-to-shore data exchange.

The partnership also aims to foster maritime innovation and entrepreneurship through platforms like the PIER71TM Smart Port Challenge and ZEBOX. MPA Chief Executive Teo Eng Dih stated, “This partnership marks an important step in strengthening maritime collaboration between Singapore and France.” Eric Banel, Director General of DGAMPA, echoed this sentiment, highlighting the strategic importance of cooperation in port digitalisation and green shipping.

This agreement underscores the shared commitment of Singapore and France to advance sustainable and secure maritime solutions, reinforcing their roles as global maritime hubs.
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OKP Holdings Limited has announced a landmark contract win worth S$258.3m from Singapore’s Land Transport Authority (LTA) for the design and construction of new cycling paths in the East Region. This significant project, which commenced in May 2025 and is expected to conclude by May 2031, will see the development of cycling networks across eleven towns, including Sengkang, Hougang, and Serangoon.

The contract, awarded to OKP’s wholly-owned subsidiary, Or Kim Peow Contractors, involves converting existing footpaths to cycling paths and creating new pedestrian footpaths. The project will also include infrastructure improvements such as drainage enhancements and the installation of high-strength coatings and thermoplastic markings.

This contract win has propelled OKP’s net construction order book to a record high of S$735.8m, with projects extending until 2031. The Group’s Managing Director, Or Toh Wat, expressed pride in the achievement, stating, “This landmark achievement is a testament to the confidence and trust placed by LTA in OKP. Not only does it mark the largest contract win in our corporate history, it also underscores the Group’s strong capabilities in replenishing our order book.”

The project aligns with Singapore’s Green Plan 2030, reinforcing OKP’s commitment to environmental sustainability. This is the fourth contract OKP has secured from the LTA for cycling path networks, with previous contracts covering other regions in Singapore.
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Standard Chartered Bank is set to increase the maximum interest rate on its Bonus$aver deposit account to 8.05% per annum from 1 June 2025, marking the highest rate ever offered by the bank for this product. This move positions Bonus$aver as the most competitive savings account in the industry. The bank also announced that online equity Buy trades of at least S$20,000, executed through SC Online Trading, will now qualify under the “Invest” category, alongside unit trust purchases.

The Bonus$aver account, known for its tiered interest rate structure, rewards clients for engaging in various banking activities such as salary credit, card spending, insurance, and investment. Usman Khalid, Global and Singapore Head for Deposits, Mortgages & Payments at Standard Chartered, stated, “Bonus$aver has been one of our signature offerings in Singapore for several years, and we’re excited to relaunch it with our highest rates yet for clients who choose Standard Chartered as their primary bank for both their banking and investment needs.”

The decision to include equity trades comes in response to a 50% increase in new client acquisitions in 2024 compared to 2023, and a 65% rise in trading volumes. This change underscores the bank’s commitment to supporting diverse client engagement methods.

Additionally, new clients opening a Bonus$aver account by 30 June 2025, with a minimum deposit of S$50,000, will receive 50 units of SPDR Straits Times Index ETF, valued at S$198. The new rates and conditions will be available on the bank’s website from 1 June 2025.
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Retail investors in Singapore net sold 25 stocks in May, achieving an average total return of 8.5%, significantly outperforming the Straits Times Index (STI), which recorded a 2.9% return. This trend highlights a pattern where retail investors often sell stocks that outperform indices whilst buying those that underperform.

Among the non-STI stocks, Sheng Siong, SIA Engineering, Frasers Hospitality Trust, Frencken, and UMS stood out, averaging 13% returns. Conversely, stocks like Riverstone and Lendlease Global Commercial REIT, which saw the most net buying by retail investors, experienced an average decline of 8%.

Singapore Airlines emerged as the most net sold stock, despite a 7% gain in May and an 11% increase year-to-date. The airline reported a record S$2.8 billion net profit for its financial year ending 31 March, bolstered by a S$1.1 billion non-cash gain from the Air India-Vistara merger.

The data also revealed that retail investors net sold S$280 million in Singapore stocks in May, contrasting with S$2.4 billion in net institutional buying during the first four months of 2025. Institutional investors marginally net bought S$306,522 ahead of the MSCI Quarterly Index Review.

Yangzijiang Shipbuilding led the net retail buying, despite a 1% decline in May and a 26% drop year-to-date. This reflects a shift from 2024 when the stock was a top gainer and saw significant net retail selling. The ongoing trends underscore the dynamic nature of retail investment strategies in Singapore’s stock market.
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Duke-NUS Medical School has marked its 20th anniversary by graduating its largest class to date, the Class of 2025, in a ceremony held at the Ngee Ann Kongsi Auditorium in Singapore. The event, attended by Health Minister Ong Ye Kung, saw 121 students receive degrees, including Doctor of Medicine (MD), MD-PhD, PhD, and master’s degrees. This milestone includes the first graduates from the Masters in Patient Safety and Healthcare Quality programme, unique to Southeast Asia.

The Class of 2025 is notable for its diversity and innovation, with 41% of MD and MD-PhD graduates making significant mid-career shifts from fields such as law, public relations, and mental health support. Additionally, 58% of the graduates are women, highlighting the school’s commitment to diversity. Dean Professor Thomas Coffman emphasised the importance of the conditional admissions pathways with the National University of Singapore (NUS) and the Singapore University of Technology and Design (SUTD), which attract talent from various academic backgrounds.

The graduates have also made significant contributions to research, publishing 253 papers, with several appearing in prestigious journals like Nature Medicine and Lancet Rheumatology. The cohort’s community service efforts were recognised, including initiatives like the Healthy to Thrive programme, which provides health screenings for migrant workers.

As Duke-NUS enters its third decade, it continues to redefine medical education and research, preparing healthcare leaders who are not only skilled clinicians but also innovators ready to impact Singapore and beyond.
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Thales has launched its first cortAIx hub in Asia, located in Singapore. This initiative, supported by the Singapore Economic Development Board (EDB), marks the first time Thales has established an AI incubator outside Europe. The hub, known as cortAIx SG, aligns with Singapore’s National AI Strategy 2.0, aiming to enhance AI excellence and serve as an equaliser in various sectors.

The cortAIx SG hub will integrate into Thales’ global AI network, comprising 800 specialists, providing Singaporean researchers access to international technology and insights. The hub will focus on aviation, defence, and public safety, collaborating with the Civil Aviation Authority of Singapore (CAAS), the Home Team Science & Technology Agency (HTX), and the Defence Science and Technology Agency (DSTA).

During French President Emmanuel Macron’s State Visit to Singapore, Thales announced several joint initiatives. These include a Joint Avionics Lab with CAAS to innovate avionics solutions and a co-lab with DSTA to integrate AI in critical systems for handling drone threats. Additionally, Thales is expanding its partnership with HTX to focus on AI-enabled homeland security technologies.

Philippe Keryer, Senior Executive Vice President of Thales, stated, “cortAIx SG will be a valuable asset to help our customers and partners embrace the vast opportunities AI has to offer, deploying it as a force for good, in support of Singapore’s National AI Strategy.”

The launch of cortAIx SG underscores Thales’ commitment to strengthening its R&D capabilities in Singapore, positioning the country as a hub for AI leadership and innovation.
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