Regional News

CapitaLand Investment Limited (CLI) has successfully listed CapitaLand Commercial C-REIT (CLCR) on the Shanghai Stock Exchange, marking it as China’s first international-sponsored retail C-REIT. Trading commenced at RMB6.84 per unit, a 19.6% increase from its initial public offering (IPO) price of RMB5.718. This milestone strengthens CLI’s position as Asia Pacific’s largest REIT manager by market capitalisation and expands its platform into China.

CLCR’s IPO raised RMB2.29b by issuing 400 million units, surpassing initial estimates by 7%. The forecast distribution yield is 4.40% for FY 2025 and 4.53% for FY 2026. The listing is part of CLI’s broader strategy to recycle capital and focus on asset-light business models, with CEO Puah Tze Shyang highlighting the significance of this achievement for CLI and the C-REIT market.

The IPO saw strong demand, with a record-breaking offline institutional subscription rate, primarily from insurance companies and strategic investors. CLI, CapitaLand China Trust (CLCT), and CapitaLand Development (CLD) hold a 20% interest in the IPO units. CLCT and CLD have contributed CapitaMall SKY+ in Guangzhou and CapitaMall Yuhuating in Changsha as seed assets.

CLCR’s portfolio, valued at approximately RMB2.6b, includes two retail assets with a 96% occupancy rate. CLI plans to leverage its operational expertise to enhance these assets’ value. Additionally, CLI’s RMB Master Fund has closed its first sub-fund and plans to launch another focused on retail assets later this year, continuing its capital recycling strategy.

Global CEOs, including those in Singapore, are increasingly confident in navigating economic volatility, according to the latest EY-Parthenon CEO Outlook survey. The survey, which includes responses from 40 Singaporean CEOs, highlights a shift towards strategic transactions and localisation as leaders adapt to ongoing geopolitical and economic challenges.

Forty-seven per cent of Singapore CEOs anticipate that current uncertainties will persist beyond this year, with 22% expecting them to last three years or more. Despite this, the CEO Confidence Index for Singapore rose to 81.5, up from 63 in May, reflecting a growing resilience among leaders. Purandar Rao, EY-Parthenon Asia East, Asean and Singapore Strategy and Transactions Leader, noted that CEOs are using market volatility as an opportunity to transform their businesses.

The survey also indicates a strong inclination towards mergers and acquisitions (M&A), with 48% of Singaporean CEOs planning to pursue such deals this year. Additionally, 70% are considering joint ventures and strategic alliances. Singapore is viewed as the top destination for M&A activity among local CEOs, aligning with a broader trend towards localisation. Joongshik Wang, EY-Parthenon Asean and Singapore Strategy and Execution Leader, highlighted Singapore’s focus on localisation due to its role as a hub for Southeast Asian markets.

Inflation and tariffs remain key operational challenges, with 51% and 48% of Singaporean CEOs, respectively, identifying them as concerns. Technology also presents both opportunities and hurdles, with 38% citing cybersecurity threats as a barrier to innovation. Geophin George, EY-Parthenon Asean Transactions and Corporate Finance Leader, emphasised the focus on growth and innovation to future-proof businesses.

As CEOs continue to adapt to a volatile environment, the emphasis on strategic transactions and localisation is expected to shape their long-term strategies.

Allianz General Insurance Company (Malaysia) Berhad has launched the Allianz Electric Vehicle (EV) EcoMiles benefit programme, rewarding low-mileage Battery Electric Vehicle (BEV) drivers with cash incentives. Policyholders insuring their BEVs under an Allianz Private Car Comprehensive policy can earn up to 15% of their insurance premiums back by activating the EcoMiles benefit via the MyAllianz app, at no additional cost.

The programme features two reward tiers: customers driving up to 10,000 kilometres annually receive a 15% cash reward on their net basic premium, whilst those driving between 10,001 and 15,000 kilometres receive a 10% reward. To qualify, policyholders must activate the benefit within 30 days of their policy’s start date and submit odometer readings and vehicle photos via the app within 14 days before or after the policy expiry date.

Sean Wang, CEO of Allianz General, stated, “With Allianz EV EcoMiles, we are supporting our customers’ green initiatives and rewarding them for their sustainable choices.”

Additionally, Allianz General is offering RM100 in complimentary EV charging credits for a limited time to customers who insure their BEVs between 29 September and 31 October 2025 and activate the EcoMiles benefit within 30 days. Redemption codes for the credits will be sent via email and can be redeemed through the ChargEV app by Yinson Greentech.

Singapore’s workforce is facing a pressing need for upskilling as the nation intensifies efforts to prepare for an AI-driven future. Despite initiatives like SkillsFuture and the Graduate Industry Traineeships scheme, many professionals feel they are lagging behind. A recent study reveals that 54% of professionals worry about missing opportunities due to inadequate skills, whilst 70% believe lifelong learning is crucial for adapting to technological changes. Furthermore, 61% seek guidance on relevant skills, yet nearly half lack clarity on current demands.

In response, LinkedIn has introduced Career Hub, a personalised career development platform aimed at helping organisations connect skill-building with career advancement. The platform is designed to address the gap in career development, as only 43% of companies in Southeast Asia are considered “career development champions” with effective programmes linking skills to business outcomes. Despite 95% of companies recognising the importance of learning and rewards for retention, many struggle with time and resource constraints.

Career Hub aims to enhance retention by fostering internal mobility, which has shown to improve retention rates by up to 72% in the Asia-Pacific region. This initiative promises to strengthen workforce continuity and institutional knowledge. Early adopters like Tripadvisor and Netsmart have already seen positive results in reducing attrition and boosting internal mobility.

Skyline II Pte. Ltd. has announced its intention to acquire all issued shares of Spindex Industries Limited through a scheme of arrangement, as per the Companies Act of Singapore. The acquisition, detailed in an implementation agreement signed on 26 September, will see Skyline II offer S$1.43 per share to Spindex shareholders.

Spindex Industries, incorporated in Singapore in 1987 and listed on the Singapore Exchange since 2001, specialises in precision-machined components and assemblies. It operates in Singapore, Malaysia, China, and Vietnam, serving sectors such as imaging, printing, and automotive systems.

Skyline II, a special purpose vehicle created for this acquisition, is owned by Hong Wei Holdings and Skyline I Pte. Ltd. Hong Wei, an investment firm from the British Virgin Islands, already holds a significant stake in Spindex, owning approximately 74.95% of its shares. The acquisition aims to consolidate this ownership under Skyline II.

The scheme will require approval from Spindex shareholders and regulatory bodies. If a competing offer arises, Skyline II retains the right to switch to a direct offer, ensuring terms are equal to or better than the current proposal. The acquisition is expected to streamline operations and enhance value for stakeholders.

The Monetary Authority of Singapore (MAS) has announced the appointment of Abigail Ng as its new Chief Sustainability Officer (CSO), effective from 6 October 2025. Ng will succeed Gillian Tan, who has held the dual roles of Assistant Managing Director (Development & International) and CSO since October 2022. This transition marks a significant step in MAS’ sustainability journey, as the organisation seeks to further its commitment to sustainable finance.

Under Tan’s leadership, MAS’ Sustainability Group has made notable strides, including the launch of the Finance for Net Zero Action Plan, which aims to mobilise financing for Asia’s transition to a low-carbon economy. Other key initiatives include the Singapore-Asia Taxonomy, the Transition Credits Coalition (TRACTION), and the Financing Asia’s Transition Partnership (FAST-P), all designed to promote sustainable financing standards and accelerate energy transition in the region.

Ng, currently the Department Head of the Markets Policy & Consumer Department, brings extensive experience in sustainability issues. Her work has involved collaboration with international organisations and stakeholders to develop sustainability disclosure policies. This expertise is expected to bolster MAS’ efforts as it enters a more mature phase of its sustainability agenda.

Tan will continue to lead the Development & International Group as Group Head, ensuring continuity in MAS’ broader strategic initiatives. The appointment of a dedicated CSO reflects MAS’ commitment to advancing its sustainability objectives in a rapidly evolving financial landscape.

The Family Business Network International (FBN International) has reinforced its commitment to sustainability and impact investing in Asia by launching the Impact Partners’ Coalition. This initiative, announced at the FBN Impact International Forum 2025 held at Mandai Rainforest Resort in Singapore, aims to harness the collective power of family businesses to address global challenges through cohesive action.

Grace Fu, Singapore’s Minister for Sustainability and the Environment, highlighted the country’s role as a hub for sustainable finance, stating, “Family enterprises are uniquely placed to combine long-term vision with immediate action. Collaboration is critical if Asia is to achieve resilience and sustainability for generations to come.”

Family enterprises, which generate over 70% of global GDP, are increasingly shifting from wealth preservation to impact creation. In Singapore, family offices have grown nearly five-fold since 2020, reflecting a trend towards investing in climate ventures and inclusive growth.

The newly formed Impact Partners’ Coalition, comprising 14 entities from philanthropic, academic, and private sectors, aims to drive regenerative solutions and facilitate shared learning. Key organisations involved include Tsao Pao Chee, No. 17 Foundation, and the Family Business Network.

Rena Chai, Executive Director of FBN Asia, emphasised the need for collective action, stating, “Family businesses have knowledge, networks, and resilience built over generations. What’s missing is collective power and conviction.”

The forum concluded with a commitment to collaboration, with plans for a family business exchange in France in 2026 to further dialogue on critical issues such as energy transition and biodiversity.

Cushman & Wakefield has announced the sale by tender of a prime freehold residential redevelopment site on Dublin Road, District 9, Singapore, valued at $49.8m. This exclusive opportunity, comprising three adjoining plots, offers potential for a boutique residential project in one of the city’s most sought-after areas.

The site, currently hosting mid-1950s semi-detached houses, spans 1,850.5 sq m and is zoned “Residential” under the draft Master Plan 2025. With a plot ratio of 1.4, it allows for a maximum gross floor area of 2,590.7 sq m and a building height of up to five storeys. Notably, the site is exempt from the 85 sq m minimum dwelling size requirement, enabling the development of approximately 50 flat units, subject to approval.

Located off Killiney Road, the area combines low-rise homes with modern high-rise flats, offering a blend of charm and convenience. Future residents will benefit from the nearby $3b Comcentre redevelopment, which will include dining, healthcare services, and premium office spaces.

The site is within walking distance of Orchard Road’s shopping belt and Somerset MRT Station, with several reputable schools nearby. Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield, highlighted the site’s potential for upscale urban living and short-term accommodation, anticipating strong interest from investors and developers.

The tender closes on 29 October 2025.

GROW with Singlife, an integrated investment platform under the Singlife Group, has launched an upgraded platform in collaboration with InvestCloud, a global leader in wealth management technology. This development aims to enhance the adviser-client experience in Singapore by equipping financial advisers with advanced tools for personalised advice and streamlined servicing.

The enhanced platform represents a significant step in GROW’s strategy to scale wealth solutions. Jonathan Ong, Head of Technology at GROW, stated, “Our focus is to help our advisers deliver comprehensive and personalised insights to connect more deeply with their clients.” The platform allows advisers to offer tailored services at scale, whilst clients benefit from a more transparent and seamless experience.

Key features of the platform include seamless client onboarding, intuitive dashboards for client-centric insights, and multifund switch functionality for efficient portfolio adjustments. Clients can also enjoy expanded mutual fund trading options and personalised trading journeys, enhancing their control and confidence over their wealth management.

Jeff Yabuki, Chairman and CEO at InvestCloud, commented, “GROW with Singlife’s intuitive platform is helping advisers seamlessly manage investments whilst driving high-quality, differentiated financial outcomes for their clients.”

The platform’s transformation aims to optimise every aspect of the adviser-client journey, leveraging InvestCloud’s advanced technology to deliver curated portfolio solutions and exclusive investment products. This initiative underscores GROW’s commitment to providing a differentiated wealth planning journey for its clients.

iShopChangi has launched ‘Scroll Stoppers’, a new shopping experience designed to transform endless browsing into meaningful discovery. Available until 31 October 2025, this feature offers travellers and non-travellers alike the opportunity to explore handpicked, tax-absorbed, and duty-free deals across categories such as beauty, tech, and spirits. The initiative aims to streamline the shopping process by providing curated selections tailored to individual shopping needs, allowing users to save more without the hassle of endless scrolling.

The ‘Scroll Stoppers’ experience promises savings of up to 60% on popular brands like SK-II, Dyson, and Coach. Customers can take advantage of stackable promo codes, including discounts of 12% to 20% based on minimum spend thresholds. For instance, non-travellers and travellers can use codes like STOP12 for 12% off with a minimum spend of S$150, whilst travellers can enjoy 20% off with STOP20 for purchases over S$700.

In addition to significant savings, iShopChangi offers exclusive gift-wrapping services and On-Demand Delivery, ensuring orders arrive within two hours for a fee of S$10, or free for orders over S$200. The platform also introduces ‘Wonder Wednesdays’, featuring flash vouchers for midweek savings.

iShopChangi, launched in 2013, continues to enhance its offerings, providing access to over 30,000 products from 900 brands. The platform’s latest feature, ‘Scroll Stoppers’, is part of its ongoing effort to offer greater convenience and value to its users.