Regional News

Truly Nuts!, a premium nut brand co-founded by Gareth Lloyd, is revolutionising Singapore’s snack industry with its sustainable and healthy Brazil nuts. The brand, under the umbrella of White Lions, a global Agri-tech group based in Singapore, has established a state-of-the-art facility in the Amazon jungle to ensure sustainable harvesting practices. This innovation allows Singaporeans to enjoy nutritious snacks directly from the source.

The company has achieved a profitable $4m EBITDA and is preparing for an equity event later this year to attract further investment and accelerate its expansion. Gareth Lloyd, who transitioned from Manchester’s electronic music scene to entrepreneurship, aims to build a $100 million revenue business solely from nuts. “We aspire to make humanity healthier, bring wealth to the communities we serve, and leave Earth in better shape than we found it,” he stated.

Truly Nuts! is responding to Singapore’s increasing demand for healthier food options, with 79% of Singaporeans making dietary choices to prevent health conditions. The brand capitalises on the growing plant-based and health-conscious food trends, with the plant-based food market projected to grow at an annual rate of 7.2% over the next five years.

Currently available in major supermarkets and online stores across Singapore, Truly Nuts! is also expanding its reach to the UK, North America, the Middle East, South Korea, Australia, and Europe. As Singapore aims for food security by 2030, Truly Nuts! plays a crucial role in shaping the future of food consumption in the country.
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The Urban Redevelopment Authority has concluded the tender for the Lentor Gardens site, part of the 2H2024 Government Land Sales programme, with Kingsford Huray Development Pte Ltd securing the highest bid at S$429,230,000. This bid, equating to S$920 per square foot per plot ratio (psf ppr), narrowly surpassed the next highest offer by 1.7%, submitted by a consortium including Intrepid Investments Pte Ltd, TID Residential Pte Ltd, and CSC Land Group (Singapore) Pte Ltd, which bid S$422,222,367 or approximately S$905 psf ppr.

Despite the positive sales momentum in Lentor, where six residential projects with nearly 3,000 units have launched, the tender attracted only two bids, falling short of expectations. Justin Quek, CEO of OrangeTee & Tie, commented on the situation, suggesting that developers might be redirecting their attention to other suburban areas like Lorong Chuan, Lakeside Drive, or Hougang Central, where housing supply has been limited.

The recent trend of muted participation in Lentor land tenders, with up to three bids each in the past four tenders, supports this potential shift. However, Quek remains optimistic about future sales, citing the successful launch of Lentor Central Residences, which sold 93% of its 477 units during the launch weekend. This indicates a continued interest in the area, suggesting that the upcoming project at Lentor Gardens could also see robust sales.
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Singapore’s economy may be significantly impacted by new tariffs imposed by the US, according to a preliminary assessment by UOB Global Economics and Markets Research. The US has applied a 10% reciprocal tariff rate on Singapore, which, whilst lower than rates for other Asian economies, could still lead to a slowdown due to Singapore’s high exposure to US demand.

The report highlights that Singapore’s domestic value-added in foreign final demand exceeds 60% of its nominal GDP, making it particularly vulnerable to external shocks. Despite having a bilateral Free Trade Agreement with the US, Singapore’s exports are still subject to the new tariffs. UOB’s risk metric suggests that Singapore could be more susceptible to economic slowdowns in major trading partners such as China, the EU, and Japan.

The Monetary Authority of Singapore (MAS) has responded by stating it is prepared to kerb excessive volatility in the Singapore dollar and ensure orderly market functioning. The S$NEER index has already seen a decline following the tariff announcements.

UOB’s growth outlook indicates that Singapore’s Q1 2025 growth may ease from the previous quarter’s 5% year-on-year increase, with trade-related sectors expected to moderate. The full-year GDP growth forecast of 2.5% may be revised downwards, potentially nearing the lower end of the Ministry of Trade and Industry’s forecast range of 1.0-3.0%.

Inflation forecasts have also been adjusted, with UOB downgrading its core inflation prediction for 2025 to 1.0% from 1.3%, citing deflationary risks from weakened global demand. The MAS is expected to consider further monetary policy easing in its upcoming April 2025 statement, potentially reducing the slope of the S$NEER policy band.
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The latest Government Land Sales (GLS) tender for the Lentor Gardens site in Singapore closed with only two bids, as developers showed limited interest in the location. This site is the seventh and final plot to be tendered in the Lentor area since 2021, with previous projects such as Lentor Modern and Lentor Hills Residences already launched. Despite the low number of bids, Leonard Tay, Head of Research at Knight Frank Singapore, noted that sales in the area have been robust, with over 70% of units sold in each of the six existing projects.

The top bid for the Lentor Gardens site was S$429 million, translating to a land rate of S$920 per square foot per plot ratio (psf ppr). This suggests that future selling prices could start from S$2,100 psf, potentially averaging above S$2,200 psf, similar to the recent launch of Lentor Central Residences. Tay highlighted that if the existing projects sell out before the new site is launched, it could benefit from spillover demand.

Located in Ang Mo Kio, the Lentor Gardens site offers attractive connectivity, being within walking distance of Lentor MRT station and close to amenities like Thomson Nature Park and Yio Chu Kang Stadium. It is also near CHIJ St Nicholas Girls School, appealing to families. The demand is expected to come from local homebuyers, including HDB upgraders and retirees from nearby estates, who may consider downsizing.
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The Urban Redevelopment Authority (URA) tender for the Lentor Gardens (2) residential site concluded with only two bids, reflecting developers’ cautious approach amidst ample supply in the area. Kingsford Group emerged as the top bidder, offering S$429.23 million, equating to S$920 per square foot per plot ratio (psf ppr). This bid was marginally higher than the second bid from a consortium of Hong Leong Holdings, Mitsui Fudosan Co., and China Construction (South Pacific) Development Co.

The Lentor Gardens (2) site, which can accommodate 500 units, is the last of seven plots in the Lentor estate, contributing to a total of 3,454 units. The subdued interest is attributed to the site’s distance from the upcoming Lentor MRT station and the absence of nearby popular schools like CHIJ St. Nicholas Girls’ School. Additionally, the presence of unsold inventory from previous Lentor projects likely deterred more aggressive bidding.

Tricia Song, Head of Research at CBRE Singapore and Southeast Asia, noted that the S$920 psf ppr bid is the lowest land rate among the Lentor sites, significantly below the S$1,204 psf ppr record set by Lentor Central in 2021. Despite this, the Lentor area has seen robust sales, with 94% of units from existing projects sold.

The future launch price for Lentor Gardens (2) is expected to be around S$2,100 to S$2,200 psf, slightly below the current average at Lentor Central Residences. This reflects the ongoing demand in the area despite the challenges posed by location and competition.
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DBS Chief Investment Office has released a detailed asset allocation strategy in response to the recent tariff measures announced by the Trump administration. The tariffs, which include a 10% universal levy on imports and targeted reciprocal tariffs up to 50%, are expected to significantly impact global economic growth and corporate earnings if tensions escalate further.

The report suggests that Trump’s tariffs may be ideologically driven, aiming to reset trade relationships and the global order. In light of these developments, DBS recommends several investment strategies across different asset classes.

For equities, DBS suggests favouring markets with potential for fiscal stimulus, such as China and Europe. China, with a central government leverage ratio of 25% of GDP, has room for government-led stimulus. In Europe, Germany’s recent approval of a EUR500bn infrastructure fund could drive growth. Additionally, companies capable of shifting production back to the US, particularly in high-entry-barrier sectors like semiconductors and aerospace, are recommended.

In the bond market, DBS advises sticking with high-quality credit in the A/BBB range and maintaining a duration barbell of 2-3 and 7-10 years. Long-duration Treasury Inflation-Protected Securities (TIPS) are also favoured due to their potential in a low-growth, high-inflation environment.

Gold remains a strong recommendation, with DBS reiterating an overweight position due to its safe-haven appeal amid volatility. The report highlights potential catalysts for gold, including growth risks, monetary easing, and increased physical demand.

For alternatives, DBS suggests global macro and relative value hedge funds, which can navigate elevated volatility and geopolitical risks effectively.

DBS’s strategies aim to help investors navigate the uncertainties posed by the current trade tensions, with a focus on resilience and adaptability in asset allocation.
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The Lentor Gardens site has drawn two bids, with the highest offer coming from Kingsford Huray Development Pte Ltd at $920 per square foot per plot ratio. This level of interest mirrors previous Government Land Sales (GLS) tenders in the Lentor area but contrasts sharply with the earlier Bayshore Road GLS tender, which saw more developer engagement.

According to Mark Yip, CEO of Huttons Asia, this difference is likely due to developers reserving resources for upcoming tenders at more desirable locations such as Chencharu Close, Hougang Central, and Telok Blangah Road.

Despite being the seventh parcel for sale in the Lentor precinct, the demand for private homes remains robust. As of 3 April 2025, only 135 out of 2,954 units were unsold, indicating a rapid pace of sales in recent Outside Central Region (OCR) project launches, particularly in Lentor. Yip highlighted that the site presents a relatively low risk for developers, given the high demand for attractively priced private homes.

The continued interest in the Lentor precinct underscores the area’s appeal to both developers and homebuyers. As developers eye future tenders in more sought-after locations, the Lentor Gardens site remains a viable investment with its strong sales performance and limited unsold inventory.
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Mylo Speech Buddy has unveiled two significant initiatives on World Autism Awareness Day: the ‘Ausome World’ digital series and the ‘Speak Clinic’ teleconsultation platform. These projects are designed to amplify the voices of individuals with Autism Spectrum Disorder (ASD) and improve access to quality speech therapy services.

The ‘Ausome World’ series shares real-life stories from parents and children navigating autism, aiming to foster awareness and understanding. The series plans to expand globally, capturing diverse narratives from countries including the United Arab Emirates, Japan, the United Kingdom, Canada, and the United States. “With ‘Ausome World,’ we are bringing real stories to a global stage, ensuring that individuals with autism and their families feel seen, heard, and supported,” said Vincent Rocha, Founder and CEO of Mylo Speech Buddy.

In addition to the digital series, the Speak Clinic platform offers innovative teleconsultation services, streamlining therapy access for children with developmental challenges. It features smart appointment scheduling, high-quality telemedicine capabilities, real-time chat, comprehensive patient management tools, and an integrated payment gateway. Healthcare professionals can register through the official website, SpeakClinic.com.

The launch event, attended by experts and advocates, highlighted the importance of inclusive education and support systems. Mylo Speech Buddy, founded in 2023, continues to bridge gaps in autism awareness and support, fostering a more inclusive society through innovation and storytelling. With over 75,000 global users, the platform remains committed to expanding its advocacy for autism inclusion.
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The Monetary Authority of Singapore (MAS) announced on 3 April that Singapore’s foreign exchange and money markets are operating normally, amidst ongoing global economic uncertainties. The central bank emphasised its readiness to intervene if necessary to kerb excessive volatility in the Singapore dollar and maintain orderly market conditions.

MAS is actively monitoring the situation and evaluating potential impacts on the Singaporean economy. This proactive stance aims to reassure investors and stakeholders of the stability and resilience of Singapore’s financial markets.

In a statement, MAS highlighted its commitment to ensuring that the markets continue to function smoothly. “MAS stands ready to kerb excessive volatility in the Singapore dollar, and to ensure that Singapore’s foreign exchange and money markets continue to function in an orderly manner,” the statement read.

The announcement comes as part of MAS’s ongoing efforts to maintain confidence in Singapore’s financial system, which is crucial for the country’s economic health. The central bank’s vigilance and preparedness to act are seen as key measures to safeguard against potential disruptions in the financial sector.

As global economic conditions evolve, MAS’s monitoring and readiness to intervene will be critical in maintaining market stability. This assurance from MAS is expected to bolster confidence among market participants and support the continued functioning of Singapore’s financial markets.
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The Wild Ventures, an AI-powered house of impact brands based in Singapore, has officially launched with an oversubscribed funding round. The company, which aims to innovate both B2B and B2C sectors, has secured $1m in angel funding from a roster of high-profile investors, including Alex Bouaziz, CEO of Deel.com, and JJ Chai, CEO of Rainforest. The funding will support the company’s mission to build a next-generation house of brands.

Founded by a team of seasoned brand builders, The Wild Ventures is set to leverage the expertise of its founders and investors to create synergies and network effects in a sustainable manner. The company already boasts a portfolio of four brands, including Wild Palace, Poositive Pets, and Future Paper, each focusing on sustainability and innovation.

Bjorn Bergstrom, co-founder of The Wild Ventures, expressed enthusiasm about the launch, stating, “This is such an exciting moment—not just because of the incredible investors backing us, but because we’re bringing a fresh vision to life.” Arvid Lithander, another co-founder, added, “Our goal is simple: to make people feel something, whether it’s through fun, creative content or products that genuinely bring joy.”

The Wild Ventures aims to disrupt traditional industries by combining the team’s branding expertise with AI technology. With its innovative approach, the company is poised to make a significant impact in the global market, particularly in sectors that require fresh creativity and innovation.
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