Regional News

Pet lovers are in for a treat as CapitaLand hosts the third Furkids Fiesta at CQ @ Clarke Quay on 12 and 13 April. This pet-friendly event, co-organised by Hope For Animals and supported by B2K Pet Care, promises a weekend filled with engaging activities for pets and their owners from 12 PM to 9 PM at Fountain Square.

The event celebrates National Pet Day with a variety of attractions, including a Bird Exhibition and Adoption Drive, where visitors can meet and adopt adorable pups. A Pets Market will offer a range of treats and products to pamper furry companions. For those seeking adventure, the Pawer Course combines agility challenges like the Temptation Trail and Pawlympic Hoops.

Participants can complete a Furkids Fiesta BINGO card to earn a scenic bumboat ride along the quay, limited to the first 250 redemptions per day. The event also features a photobooth to capture memorable moments with pets.

Special workshops include “Bark n Bake” by B2K, where attendees can learn to make pet-friendly treats, and an Easter Egg Hunt for a fun-filled adventure. On day one, Nibnib will host a Pet Food Workshop, whilst day two offers grooming tips from 7Paws.

With 11 pet-friendly dining spots along the riverside, visitors can enjoy meals with their pets, thanks to the Singapore Food Agency’s new rule allowing pets at outdoor refreshment areas from 1 January 2025.

The Furkids Fiesta not only provides entertainment but also strengthens the bond between pets and their owners, making it a must-visit event for pet enthusiasts.
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The Real Estate Developers’ Association of Singapore (REDAS) has announced significant progress with its Real Estate Analytics Performance Indicators Dashboard (RAPID), which has been adopted by over 20 development projects across various asset classes. Launched in November 2023, RAPID is designed to enhance digital project delivery within Singapore’s built environment sector.

RAPID’s adoption spans private residential, hotels, mixed-use integrated developments, and institutional sites, representing approximately 35% of the Gross Floor Area (GFA) from Building Under Construction residential sites awarded between 2023 and 2024. Chew Peet Mun, Co-Chair of the REDAS Lead Project Steering Committee, expressed satisfaction with the industry’s support, stating, “We are pleased by the industry support for RAPID, which REDAS championed as a digital building block compliant with the common data environment.”

The platform, developed by REDAS in collaboration with industry players, aggregates data from multiple systems to provide a comprehensive view of key performance indicators such as Time, Cost, Quality, and Safety. It is compatible with widely used platforms like Excel, MS Project, and Autodesk Construction Cloud, making it adaptable to existing workflows.

RAPID is part of the broader Built Environment Industry Transformation Map and is supported by Enterprise Singapore’s LEAD programme. It has also received endorsements from government agencies including the Building and Construction Authority (BCA) and Housing Development Board (HDB). Looking ahead, REDAS aims to enhance RAPID’s capabilities with AI-powered predictive analytics, positioning it as a future-ready platform for high-performance developments.

As Singapore’s real estate sector faces challenges such as rising costs and sustainability expectations, RAPID offers a strategic, data-driven pathway to navigate these complexities.
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Retail sales in Singapore experienced a 3.6% decline in February 2025 compared to the same month last year, according to the Singapore Department of Statistics.

The drop was more pronounced when excluding motor vehicles, with a 6.7% decrease. The food and beverage services sector also saw a downturn, with sales falling by 5.6% year-on-year.

The timing of the Chinese New Year, which occurred in February last year but shifted to January this year, significantly impacted these figures.
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In the first quarter of 2025, artificial intelligence (AI) companies have captured a significant share of the global venture capital landscape, securing 20% of all venture deals, according to the latest State of Venture report. This marks the highest share on record, doubling since the launch of OpenAI’s ChatGPT in 2022.

Singapore’s overall funding and deals activity both fell during the period. The quarter saw 78 deals versus the 99 registered in the previous period. Furthermore, funding was pencilled at $0.9b, compared to the $1.9b previously.

The report highlights a notable trend towards early-stage investments, with seed and Series A deals accounting for 70% of AI transactions, although this is a slight decrease from the previous year. The quarter also set a new record for early-stage AI mega-rounds, with companies like Isomorphic Labs, Apptronik, and Lila Sciences raising a combined $1.8b in deals worth $100m or more.

The median deal size for early-stage investments has risen to $2.7m, up from $2m in 2024. This increase suggests that investors are focusing their resources on fewer, more promising opportunities rather than spreading capital across a wide range of start-ups.

Additionally, the quarter witnessed 12 mergers and acquisitions (M&A) exits valued at over $1b, surpassing previous records. Google’s $33b acquisition of Wiz stands out as the most valuable M&A deal for a private, venture capital-backed company, contributing to a total of $56b across these transactions.

Despite a decline in the number of deals to 5,846, global venture funding reached $121b, the highest since Q2 2022. OpenAI’s substantial $40b deal played a significant role, accounting for one-third of the total funding. This trend underscores a growing concentration of capital in fewer, larger deals, particularly within the AI sector.
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US President Donald Trump has announced a 10% tariff on imports from Singapore, a move expected to significantly affect local businesses. Nearly half of these companies plan to pass on the increased costs to their customers, according to a recent survey. Yogesh Sangle, Global Head of Instarem, offers insights on how businesses can navigate these rising operational costs amidst economic uncertainty.

The tariffs are likely to hit sectors such as manufacturing and those dependent on export-focused supply chains the hardest. Sangle suggests that instead of absorbing the costs or transferring them to customers, small and medium-sized enterprises (SMEs) should seek efficiencies elsewhere. “This could include renegotiating supplier contracts, consolidating software and service subscriptions, or reducing overheads through smarter automation and outsourcing,” he advises.

One often overlooked area for potential savings is in the management of financial transactions. Sangle highlights that foreign exchange markups and cross-border transfer fees can quietly erode profit margins, particularly for SMEs making regular international payments. By adopting smart, transparent financial solutions, businesses can reduce these hidden costs and gain better control over cash flow.

In conclusion, whilst the new tariffs present challenges, they also offer an opportunity for businesses to reassess and optimise their operations. By focusing on cost-saving measures and efficient financial management, Singaporean companies can not only weather the storm but potentially reinvest savings into growth, even in uncertain economic times.
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The Singapore Institute of Purchasing and Materials Management (SIPMM) has released the March 2025 Purchasing Managers’ Index (PMI), revealing a contraction in the manufacturing sector. The PMI fell to 49.9, down from 50.2 in February, indicating a slight downturn as figures below 50 signal contraction. This decline marks the first contraction in three months, raising concerns about the sector’s resilience amidst global economic uncertainties.

The drop in the PMI is attributed to a decrease in new orders and production output, which have been impacted by ongoing supply chain disruptions and fluctuating demand. The electronics sector, a significant component of Singapore’s manufacturing industry, also experienced a decline, with its PMI slipping to 50.1 from 50.5 in the previous month.

SIPMM noted that the contraction reflects “the challenges faced by manufacturers in navigating the current economic landscape.” The organisation emphasised the importance of monitoring these trends closely as they could have broader implications for Singapore’s economic performance.

The PMI is a critical indicator of the health of the manufacturing sector, which plays a vital role in Singapore’s economy. As the sector grapples with external pressures, the government and industry stakeholders may need to consider strategies to bolster resilience and support growth.

Looking ahead, the manufacturing sector’s performance will be closely watched, with potential policy adjustments and industry initiatives aimed at stabilising and revitalising growth.
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Stephanie Leung, Chief Investment Officer at StashAway, has highlighted the potential indirect risks that US tariffs could pose to Singapore’s economy. Whilst direct exports to the US account for approximately 8% to 9% of Singapore’s GDP, the broader concern lies in the tariffs’ impact on major Asian trading partners, such as China and Malaysia, which face tariffs of 54% and 24% respectively. Should these countries experience economic downturns, Singapore might feel the repercussions.

The ultimate effect of these tariffs will depend on the outcome of ongoing negotiations. Leung notes that previous tariff announcements, such as those involving Canada and Mexico, suggest that initial rates may serve as negotiation starting points rather than final terms. This uncertainty is reflected in market sentiment, with local equities and the Singapore dollar experiencing fluctuations amidst global risk-off conditions.

In the coming weeks, market volatility is expected to persist as details of tariff implementations and international responses unfold. Leung emphasises the importance of diversification for Singapore investors, noting that whilst the S&P 500 has declined by 4.8% since the start of the year, global equities outside the US have risen by 6%, and gold has surged by 19%. StashAway’s diversified portfolios have also shown positive returns, with gains of 2.1%, 2.3%, and 0.75% across different risk levels.

In summary, whilst the direct impact of US tariffs on Singapore may be limited, the indirect effects through regional partners could pose significant challenges. Investors are advised to maintain diversified portfolios to mitigate potential risks.
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The Urban Redevelopment Authority (URA) has announced the tender results for the Lentor Gardens government land sales site, with Kingsford Group submitting the highest bid of S$429m. This bid, equivalent to a land rate of S$920 per square foot per plot ratio (psf ppr), is the lowest among the seven plots tendered in the Lentor Hills estate. The site, located in the Ang Mo Kio planning area, is expected to add approximately 500 new residential units to the region.

The Lentor Gardens plot attracted only two bids, with Kingsford’s offer narrowly surpassing a S$905-psf ppr bid from a Hong Leong-led group by 1.7%. Wong Siew Ying, Head of Research and Content at PropNex, noted that the bids were lower than anticipated, given the robust sales of recent projects in the area. “We reckon the restrained bidding for this site may perhaps be due to uncertainty over the depth of demand for new private homes in the Lentor area,” she explained.

Despite the subdued bidding, the Lentor Hills estate has seen healthy sales, with around 94% of units sold across six previously launched projects. The new Lentor Gardens development is projected to have an average selling price above S$2,150 psf.

However, potential risks loom, including the impact of new tariffs on goods entering the US, which could disrupt international trade and affect the global economy. As developers weigh their options, other attractive sites on the government land sales slate may draw interest, such as those on Dunearn Road and Telok Blangah Road.
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Singapore has emerged as the top destination for corporate relocations, according to the latest Savills Dynamic Wealth Indices. The city-state’s favourable corporate tax environment, robust business infrastructure, and significant foreign direct investment volumes have propelled it to the forefront, surpassing Seoul, New York, London, and Abu Dhabi. Meanwhile, for individuals considering relocation, Singapore ranks third, following Dubai and Abu Dhabi, due to its appealing personal tax incentives and high quality of life.

The indices highlight the evolving landscape of global wealth flows, influenced by geopolitical shifts and economic changes. Paul Tostevin, Director of Savills World Research, noted, “Traditional predictors of global wealth flows, such as government policies, taxes and incentives, and the presence of either innovative talent pools or existing communities of similar individuals, have always been key drivers of dynamic footloose companies and individuals.”

Ashley Swan, Executive Director of Commercial & Industrial at Savills Singapore, emphasised the city’s business-friendly environment, stating, “The results of the indices endorse Singapore’s standing among corporates and illustrate the overall business-friendly environment, strong government policies and tax incentives.”

The report also underscores the overlap between corporate and individual priorities, with six of the top 12 locations appearing in both indices. This convergence suggests that businesses are increasingly drawn to locations that offer both a skilled workforce and a high quality of life. Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, remarked on the competitive landscape for attracting high net worth individuals, asserting that Singapore remains a strong contender due to its stable environment and real estate value.
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Bowmore Single Malt Scotch Whisky has launched its prestigious ARC-54, a collaboration with Aston Martin, featuring a global anthem by writer and poet Sophia Thakur. The anthem, inspired by the whisky’s ability to capture moments of stillness, was performed at the global reveal in London. This marks a new chapter for Bowmore, inviting a fresh interpretation of its 240-year heritage.

The ARC-54, limited to 130 bottles worldwide, offers a multi-dimensional drinking experience with zesty citric tones, floral notes, and a signature whisper of peat smoke. The decanter design draws inspiration from the Aston Martin Valkyrie’s aerodynamics and the natural landscapes of Islay. Dr Calum Fraser, Bowmore’s chief blender, emphasised the importance of slowing down and appreciating the craft: “A Bowmore as exquisite and complex as this 54-year-old is testament to the skills of our distillery team, but also the very embodiment of what can be achieved simply by slowing down.”

In Singapore, Bowmore will also release The Bowmore Sherry Oak Collection in April, showcasing the mastery of European oak Sherry casks. The collection includes 12, 15, and 18-Year-Old expressions, each enhancing Bowmore’s rich character with layers of depth and complexity.

The ARC-54 and Sherry Oak Collection highlight Bowmore’s commitment to craftsmanship and innovation, promising a unique experience for whisky enthusiasts worldwide.
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