City Developments Limited (CDL) has successfully halted serious corporate governance lapses following a court hearing on 26 February 2025. Executive Chairman Kwek Leng Beng announced that the two directors, appointed irregularly on 7 February 2025, have agreed not to exercise their powers until further court notice. This decision comes amidst attempts by Sherman Kwek, Philip Lee, Wong Ai Ai, and other directors to alter board committees and management structures within CDL’s subsidiaries.

The court’s intervention has suspended the irregularly formed Nominating & Remuneration Committee, allowing CDL’s board and management to operate without further disruption. Kwek emphasised the importance of strong corporate governance, stating, “It ensures transparency, accountability, and responsible decision-making, which are critical to maintaining investor confidence and protecting the long-term interests of our shareholders.”

Kwek reiterated his commitment to upholding high governance standards, ensuring CDL’s stability and protecting shareholder interests. He expressed gratitude for the continued trust and support from shareholders and stakeholders, promising further updates as necessary.

This resolution marks a significant step in maintaining the integrity and functionality of CDL’s board and management, reinforcing the company’s dedication to sustainable business practices and long-term value creation.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

Singapore’s fintech sector saw a recalibration in 2024, with investments totalling $1.3b (US$1.3b), marking the lowest level since 2020. According to KPMG’s Pulse of Fintech H2’24 report, this shift aligns with a global trend towards sustainable growth, as investors prioritise proven business models and profitability, particularly in AI-integrated investments.

Despite the overall decline, Singapore remains a hub for fintech innovation. Investment in crypto and blockchain rose by 22% in H2 2024, reaching $267m (US$267m), driven by AI-powered digital asset solutions and blockchain infrastructure. AI-powered fintech also surged, with investments jumping from $24m (US$24m) in H1 2024 to $160m (US$160m) in H2 2024, reflecting strong interest in regtech and automation.

Anton Ruddenklau, Lead of Global Innovation and Fintech at KPMG International, noted, “AI could be a sleeping giant for fintech investment. Over the next year, AI-focused regtechs will likely see the most traction among investors.”

The H2 2024 period saw a 41% increase in the total value of fintech deals in Singapore, despite a 36% drop in deal volume. This indicates a focus on high-value, early-stage investments with clear paths to profitability. The payments sector, ranked third among fintech verticals, showed resilience with nine transactions totalling $57.4m (US$57.4m).

Looking ahead, Singapore’s focus on sustainable growth and innovation positions it at the forefront of fintech evolution. The Singapore Budget 2025 is expected to further accelerate this momentum by introducing initiatives to integrate AI at scale and attract entrepreneurial talent.

“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

Procurri, a global provider of IT services, has reported a notable financial recovery in FY2024, achieving a net profit of S$0.4m, a stark contrast to the S$8.5m net loss recorded in FY2023. The company attributes this turnaround to strategic cost optimisation and operational efficiencies, which have also led to an increase in gross profit margin from 21.2% to 22.5%.

The company’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) also saw a positive shift, reaching S$4.8m, reversing the previous year’s EBITDA loss of S$6.0m. This improvement is largely due to pricing adjustments and enhanced cost efficiencies.

Mat Jordan, CEO of Procurri, commented on the results, stating, “Our return to profitability in FY2024 is a testament to our focused execution and financial discipline. Whilst the industry landscape remains challenging, our ability to drive cost efficiencies, improve margins, and expand in high-growth areas positions us well for the future.”

Procurri, established in 2013, operates across three regional hubs—Asia Pacific, the Americas, and Europe, including the UK, the Middle East, and Africa—with its headquarters in Singapore. The company aims to leverage its expertise in sustainable IT solutions to capture growth opportunities within IT lifecycle services, hardware resale, and data centre spaces.

Looking ahead, Procurri plans to continue leveraging its global network and expertise to expand its presence in high-growth areas, ensuring a robust position in the competitive IT services market.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

New research from KnowBe4 reveals that 46% of Singaporean IT decision-makers struggle to distinguish between legitimate and phishing emails, highlighting a significant cybersecurity challenge. The study, conducted in January 2025, indicates that phishing attacks are becoming increasingly sophisticated, with 72% of IT leaders mistakenly identifying genuine emails as phishing attempts.

Despite this confusion, fewer IT decision-makers express concern about phishing and business email compromise (BEC) risks compared to previous years, with only 36% acknowledging it as a threat. This decline in awareness could leave organisations vulnerable to costly cyber threats. Dr Martin Kraemer, Security Awareness Advocate at KnowBe4, emphasised the financial threat posed by BEC, stating, “These latest insights are deeply concerning, as organisations see a decline in individual accountability for cybersecurity, the risk of BEC attacks only grows.”

The research also highlights a shift in cybersecurity responsibility, with 47% of organisations placing the burden on IT teams, up from 42% in 2024. Meanwhile, 42% believe the government should be more involved, reflecting a growing expectation for government intervention. An overwhelming 89% of respondents call for increased government action, including public education on cyber risks and funding for business protection.

Dr Kraemer stressed the need for a culture of cybersecurity awareness, stating, “Now more than ever, businesses must prioritise comprehensive email security, employee training, and multi-layered defences to prevent costly breaches.”

The study underscores the urgent need for enhanced cybersecurity measures and shared responsibility within organisations to combat the evolving threat landscape.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

Audience Analytics has announced a 29% year-on-year increase in net profit, reaching $4.4m (S$6.0m) for the financial year 2024, driven by improved margins. The company also reported a 6% rise in revenue to $11.4m (S$15.6m). In line with its new dividend policy, the firm has proposed a final cash dividend of 1.50 Singapore cents per share, committing to distribute at least 50% of profits attributable to equity holders.

The company maintains a robust net cash position of $15.8m (S$21.6m), which constitutes approximately a third of its market capitalisation, valued at around $49.1m (S$67m). Datuk William Ng, Chairman and Managing Director of Audience Analytics, attributed the success to the team’s dedication and strategic vision. “Our relentless focus on innovation, efficiency, and expanding our market presence has delivered strong profit growth and set a solid foundation for even greater opportunities ahead,” he stated.

Audience Analytics, a business enabler with a presence across Asia and the Middle East, offers a diverse portfolio including publications, online portals, and business award programmes. The company’s strong financial performance underscores its commitment to creating lasting value for shareholders and positions it for future growth.

“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

German fast-moving consumer goods (FMCG) wholesaler Famobra GmbH is intensifying its expansion into Southeast and Northern Asia, with Singapore as its strategic hub.

The company has appointed Lars Lund Rasmussen as General Manager to oversee operations in the region. Rasmussen, who brings extensive experience from his roles in logistics and as Consul General for the Danish Foreign Ministry in China, will be based in Singapore.

Famobra, known for distributing European A-brands like Haribo and Guinness Beer, aims to capture the growing demand for these products in Asia. CEO Morten Ryholl Skjerning highlighted Rasmussen’s appointment as a strategic move following an extensive recruitment process. “Lars’ experience, his skills in innovation, and his commercial acumen make him the right person for the task,” Skjerning stated.

The company, part of the Fleggaard Group, has experienced consistent annual revenue growth of 15 to 30 per cent over the past decade. This growth is fuelling its ambitions in Asia, particularly in China, Singapore, and Hong Kong. “We’re investing heavily and moving fast because that’s what is needed to take the lead on a global scale,” Skjerning added.

Rasmussen’s immediate focus will be on building the Singapore team and enhancing local presence. “Our next goal is to find the right talents, who can carry these significant growth ambitions,” Rasmussen said. Famobra plans to double its Singapore team and increase visibility by participating in key industry events like the FHA in Singapore and SIAL in China.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

CSE Global Limited, a global systems integrator based in Singapore, announced a robust financial performance for the fiscal year ending 31 December 2024. The company reported an 18.8% increase in revenue, reaching $861.2m, primarily driven by its Electrification and Automation business segments. The group’s EBITDA rose by 29.1% to $82.2m, whilst net profit before exceptional items surged 63.2% to $36.8m.

The company’s strong performance is attributed to its strategic focus on urbanisation, electrification, and decarbonisation trends, according to Group Managing Director and CEO Lim Boon Kheng. “Despite market uncertainty, CSE demonstrated resilience through strong revenue and net profit growth,” he stated. The acquisition of RFC Wireless, Inc. has also allowed CSE to penetrate the US data centre communications market, further expanding its capacity in the Electrification business.

Key highlights from the financial results include a stable order book of $672.6m as of 31 December 2024 and a recommended final dividend of 1.15 Singapore cents per ordinary share. The company also reported improved working capital efficiencies, with a reduction in cash conversion days from 52 to 50 days.

Looking ahead, CSE Global plans to capitalise on the growing demand for data centres and continue expanding its engineering capabilities to meet evolving market demands. The company aims to strengthen its position in the Electrification and Communications sectors, particularly in the Americas and Asia Pacific regions.

“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

TIH Limited, a private equity fund company listed on the SGX Mainboard, has announced a total comprehensive income of $17.72m for the financial year ending 31 December 2024. This figure represents a significant performance driven by various financial activities and strategic management decisions.

The company’s income was primarily bolstered by a net income tax reversal of $15.43m and a fair value gain on equity investments at fair value through profit or loss (FVTPL) amounting to $11.65m. Additionally, the company reported other operating income of $5.77m. These gains were partially offset by operating expenses of $8.86m and a fair value loss on debt investment at FVTPL of $6.98m.

Executive Director Allen Wang highlighted the company’s strategic focus amidst macroeconomic uncertainties, stating, “Our experienced team has been instrumental in navigating macroeconomic uncertainties, driving the growth of our Fund Management business.” Chairman Kin Chan added that the company is well-positioned to leverage opportunities in Southeast Asia and Greater China, aiming to deliver sustainable value to shareholders.

TIH also reported an increase in its net asset value to $136.50mand proposed a final dividend of 1.0 Singapore cent per share. The company’s recurring fee income from its fund management business rose by 13% to $5.77m, reflecting its robust performance in the sector.

The financial results underscore TIH’s strategic positioning and its ability to adapt to evolving economic landscapes, with a focus on capitalising on investment opportunities in the region.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

Singapore’s mid-to-small cap stock market, comprising nearly 150 companies with market capitalisations between $100m and $1b, has seen significant influence from the technology sector. Over the past eight weeks, technology stocks have contributed $14m, or 35%, to the $40m average daily trading turnover, according to the latest data from the Singapore Exchange (SGX).

Among the top 10 most traded companies in this group are four technology firms: AEM Holdings, Frencken Group, UMS Integration, and CSE Global. Notably, UMS Integration and CSE Global also ranked among the top 10 stocks with the highest net institutional inflow, alongside Valuetronics.

PC Partner Group, a manufacturer of computer electronics, has achieved the second-highest year-to-date price gain among the mid-to-small caps, with a 72.6% increase. The company is expected to report its FY24 results by 28 February, projecting a net profit of at least HK$250m, a substantial rise from approximately HK$60m in FY23. This growth is attributed to strong demand for new video graphics cards and reduced marketing expenses.

The technology sector’s impact on Singapore’s mid-to-small cap stocks highlights the growing importance of tech companies in the market. As PC Partner Group plans to expand its presence in Southeast Asia, including moving its global headquarters to Singapore, the sector’s influence is likely to continue shaping the market dynamics.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

The Singapore Land Authority (SLA) has announced two strategic partnerships aimed at utilising space-based technologies and data to develop geo-enabled solutions for climate mitigation and adaptation. This announcement was made at the Global Space Technology Convention Exhibition 2025, held on 26 February at Marina Bay Sands Expo and Convention Centre.

These partnerships are set to harness advanced space technologies to address pressing climate challenges. By integrating space-derived data, the SLA aims to enhance its capabilities in monitoring and responding to environmental changes, thereby contributing to Singapore’s broader climate strategy.

The initiative underscores the growing importance of space technology in tackling global environmental issues. By collaborating with leading space technology entities, the SLA seeks to pioneer innovative solutions that can be applied both locally and globally.

The partnerships are expected to facilitate the development of sophisticated tools for climate monitoring, which will be crucial in formulating effective climate policies. This move aligns with Singapore’s commitment to leveraging technology for sustainable development and environmental resilience.

As these partnerships progress, they are anticipated to yield significant advancements in the way climate data is collected and utilised, potentially setting a precedent for other nations to follow. The SLA’s proactive approach highlights the critical role of technology in addressing the challenges posed by climate change.
“`

This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.