Industry News

Deluxe Systems, the renowned Italian luxury windows and doors brand, has launched its first exclusive retail showroom in Singapore. This new space, located at 61 Ubi Ave 1, #02-02 UB Point, serves as a creative hub that merges refined European craftsmanship with tropical design sensibilities, marking a significant step in the brand’s international expansion.

The showroom spans two floors and is designed as a luxury residence, complete with a kitchen, living area, dining room, and patio. This setup allows architects, designers, and homeowners to experience the artistry of Italian-made windows and doors in realistic settings. Additionally, the showroom features spaces dedicated to seven renowned Italian sub-brands, each showcasing its unique aesthetic and craftsmanship story.

This development underscores Deluxe Systems’ mission to introduce authentic Italian innovation to Southeast Asia’s design-forward markets, blending heritage, technology, and sustainability. The Singapore showroom positions the city as a gateway for Italian design excellence in the ASEAN region.

GoRental SG, Higher Dimension Materials Inc. (HDM Inc.), and Pylon City have signed a Memorandum of Understanding (MOU) at COP30 in Belém, Brazil, to advance long-duration energy storage and intelligent energy systems in Singapore and Southeast Asia. This strategic collaboration seeks to enhance energy resilience and integrate renewable energy sources in the region.

The partnership leverages the unique capabilities of each company: GoRental SG’s distributed renewable-power systems, HDM Inc.’s Si707 molten-silicon energy storage technology, and Pylon City’s Nexus System for real-time energy monitoring and optimisation. Together, they aim to address the market gap in long-duration renewable storage, a critical issue highlighted by ongoing discussions on grid stability and energy security.

Colin Peh, Founder and Managing Director of GoRental SG, emphasised the practical necessity of long-duration storage, stating, “Long-duration storage is no longer a theoretical ambition, it is becoming a practical requirement for communities and businesses seeking stable, clean power. This collaboration is about building solutions that match the realities of the region: systems that are safe, scalable, and grounded in real-world use.”

The collaboration is expected to accelerate the development of energy solutions that are both innovative and applicable to real-world scenarios, benefiting communities and businesses in the region. As the partnership progresses, it could play a significant role in shaping the future of energy storage and sustainability in Southeast Asia.

Intrasia Group, a Singapore-based corporate and financial services management company, has announced the opening of its new regional entity, Intrasia Management ME, in Dubai. This expansion marks a significant milestone in the Group’s international growth, reinforcing its role as a bridge between Africa, the Middle East, and Asia.

The new Dubai office strengthens Intrasia’s global network, which already spans Mauritius, Singapore, and Cape Town. Graeme Robertson, Chairman of Intrasia Group, highlighted Dubai’s strategic importance: “Dubai is a logical location because it’s the centre of the financial world, which is changing rapidly and gravitating here.” He noted that the city’s connectivity and regulatory clarity make it an ideal hub for investors and entrepreneurs seeking cross-border financial solutions.

Intrasia Group aims to serve the mass affluent and emerging wealth tier, typically investing between $50,000 and $5m. The Group’s services include business setup, structuring, banking, insurance, and wealth management, tailored for clients in emerging markets. Robertson emphasised Dubai’s role as a nexus for global wealth and entrepreneurship, citing the emirate’s appeal to ultra-high-net-worth individuals and its progressive policies.

The Group plans to leverage its expertise in Mauritius and its AI-powered risk management platform to enhance compliance and efficiency. Intrasia’s near-term strategy includes opening new offices in London, Australia, and Singapore, with potential expansion into New York and Europe within three years. The Dubai office will serve as the Group’s GCC headquarters, covering Qatar, Oman, Saudi Arabia, and Bahrain.

The Straits Times Index (STI) has achieved a new milestone, closing at 4,546.07 after hitting a record high of 4,575.91. This marks a 25.8% total return for the year up to 14 November, bolstered by analyst upgrades and strategic shifts among non-bank constituents. The STI’s performance has been supported by modern investment platforms, which have encouraged gradual exposure to exchange-traded funds (ETFs) and stocks.

The STI’s competitive valuations, with a price-to-book (P/B) ratio of 1.5x, reflect a rise from 1.3x in June. ST Engineering led the STI constituents in 2025, delivering an 85% total return and maintaining the highest P/B ratio at 9.8x. The company’s success is attributed to a 74% upgrade in its consensus estimate target price.

The STI’s performance is significantly influenced by its three major banks—DBS Group Holdings, Oversea-Chinese Banking Corporation, and United Overseas Bank—which collectively account for 50.4% of the index. These banks reported a combined Non-Interest Income (NOII) exceeding S$5b for the first time in Q3 2025, marking a 13% increase from Q2 2025.

The STI’s robust performance in 2025 has been driven by strategic transformations and macroeconomic factors. Notably, DBS is the only bank among the top 10 STI stocks by total return for the year. The index’s overall strength is further evidenced by the significant growth in STI ETFs, which saw a 36% year-on-year increase in assets under management, reaching S$3.38b.

As the STI continues to evolve, its strategic shifts and analyst upgrades are expected to sustain its competitive edge in the market.

The Monetary Authority of Singapore (MAS) has introduced the 2026 Year of the Horse Almanac coins, marking the tenth release in the Singapore Fourth Chinese Almanac Coin Series. These coins, which are legal tender, can be pre-ordered from 18 November 2025 and will be available for public purchase from 1 January 2026.

The 2026 coins showcase the Horse, a symbol in the Chinese zodiac, set against the scenic backdrop of Punggol Waterway Park. This park is part of the North Eastern Riverine Loop and is known for its lush greenery and waterway views. Each coin also features the Singapore Coat of Arms and the year 2026.

Available in 10 variations, the coins differ in face value, shape, metallic composition, and minting relief effects. Special premium sets, combining various coins, are also on offer. Pre-orders can be made through The Singapore Mint until 14 December 2025. In the event of oversubscription, allocation will be determined by ballot.

The series, which began in 2017, releases a new coin annually, each depicting a zodiac animal in a Singaporean park or natural setting. The 2026 edition includes coins made from nickel-plated zinc, silver, and gold, with mintage numbers ranging from 50,000 for the nickel-plated coin to just 100 for the 5 troy oz Gold Proof Coin. Each coin, except the nickel-plated version, comes with a certificate of authenticity.

Bettr, a financial services provider under Ant International, has launched its advanced credit tech solutions to support micro, small, and medium enterprises (MSMEs) in emerging markets. By the end of October 2025, Bettr’s solutions had enabled over 30 million users to access credit services, marking a threefold increase from the previous year. This growth is driven by the need for tailored credit services in emerging markets, where MSMEs play a crucial role in economic development.

The solutions feature an AI-driven credit engine that significantly reduces the time required for deploying credit policies—from weeks to mere minutes. This innovation is part of Bettr’s comprehensive offerings, which include Software-as-a-Service (SaaS), Risk-as-a-Service (RaaS), and Data-as-a-Service (DaaS). These services help digital platforms enhance customer engagement and drive sustainable revenue growth.

A key aspect of Bettr’s strategy is its partnership with Dock, a Brazilian payments and banking technology provider. This collaboration aims to expand the deployment of Bettr’s credit solutions across Latin America, starting in Brazil. Dock’s CEO, Antonio Soares, highlighted the potential for these solutions to empower local entrepreneurs and drive financial inclusion.

Quan Yu, General Manager of Global Credit Services at Ant International, emphasised the importance of equipping digital platforms with the necessary tools to embed credit services directly into their ecosystems. This approach aims to reach underserved MSMEs efficiently and sustainably, with plans to expand its impact across 20 markets.

CapitaLand Investment Limited (CLI) has announced the appointment of Kishore Moorjani as Chief Executive Officer of Alternatives, Private Funds, effective 18 November 2025. Moorjani will also serve as Chairman of CLI India, where he will provide strategic leadership and governance oversight. His role will involve spearheading CLI’s Alternatives business, including credit strategies, and managing growth across multiple real estate asset classes.

Moorjani brings a wealth of experience to CLI, having previously founded LXA, a mortgage asset manager focused on residential mortgage opportunities in Asia. He also spent nearly 15 years at Blackstone, where he was Senior Managing Director and Asia Head of the Tactical Opportunities Fund. His extensive background includes leadership roles at Highbridge Capital in Hong Kong and Colony Capital Taiwan, where he managed significant loan portfolio acquisitions.

In his new role, Moorjani will be a key member of CLI’s senior leadership team, tasked with shaping and leading the global strategy for new private fund products and platforms. His mandate includes asset-backed alternative strategies across credit, insurance solutions, secondaries, and private equity.

Moorjani holds a BBA (Honours) and an MBA in Real Estate Finance from the Schulich School of Business, York University in Toronto. His appointment is expected to drive CLI’s growth strategies and expand its footprint in the alternatives sector.

Yangzijiang Maritime Development Ltd., a maritime financial solutions provider, made a strong debut on the Singapore Exchange (SGX) on 18 November 2025. The company’s shares closed at $0.49 (S$0.67), marking an 11.7% increase from the placement price of $0.44 (S$0.60). This debut follows a spin-off from Yangzijiang Financial Holding Ltd.

The trading day saw Yangzijiang Maritime’s shares open at $0.48 (S$0.66), a 10% premium over the placement price, and reach an intraday high of $0.52 (S$0.71). Approximately 58 million shares were traded, contributing to a market capitalisation of $1.71b (S$2.34b). The company also raised $3.80m (S$5.2m) through a private placement of 8,638,000 shares.

Ren Yuanlin, Executive Chairman and CEO of Yangzijiang Maritime, expressed pride in the listing, highlighting it as a milestone in the company’s growth. “This achievement underscores our commitment to building a focused, high-quality maritime investment platform,” he stated.

SAC Capital Private Limited served as the issue manager, with iCapital Holdings (SG) Pte. Ltd. as the listing consultant. Ong Hwee Li, CEO of SAC Capital, noted the strong market participation and investor interest, reflecting confidence in the company’s fundamentals and growth prospects.

Vincent Toe, CEO of iCapital Holdings, described the listing as a “momentous occasion” for Yangzijiang Maritime, marking a new chapter of growth and independence. The company aims to leverage its robust network and disciplined capital management to drive long-term value in the maritime industry.

The Agency for Science, Technology and Research (A*STAR) and GlobalFoundries (GF) have announced a Master Research Collaboration Agreement (MRCA) to propel advancements in silicon photonics technologies. This partnership aims to enhance Singapore’s standing as a pivotal hub in the global semiconductor supply chain, leveraging the nation’s early investments in this sector.

Silicon photonics, crucial for ultra-fast and energy-efficient data transfer, is foundational for next-generation artificial intelligence (AI) systems. A*STAR’s Institute of Microelectronics (IME) initiated Singapore’s silicon photonics research and development programme in 2007. This was followed by the National Research Foundation’s backing of the Lux Photonics Consortium in 2015, which united industry, academia, and research institutions in photonics.

The collaboration between A*STAR and GF is set to deepen with the MRCA, highlighting GF’s commitment to expanding its production and research operations in Singapore. The recent acquisition of Advanced Micro Foundry (AMF) by GF is expected to accelerate the development of Singapore’s silicon photonics operations, enhancing supply chain resilience and aligning with the country’s ambition to be a leader in advanced semiconductor manufacturing.

Beh Kian Teik, CEO of A*STAR, stated, “Impactful innovation is about how ideas take shape in A*STAR’s labs, and scale to meet real industry needs.” Gregg Bartlett, CTO at GlobalFoundries, added, “Singapore’s strong semiconductor ecosystem makes it an ideal place for us to further develop our silicon photonics platform.”

This strategic move is part of Singapore’s broader investment of over $730m (S$1b) in semiconductor research and development, focusing on areas such as silicon photonics, advanced packaging, and silicon carbide. The collaboration promises to deliver new economic opportunities and reinforce Singapore’s position in the global semiconductor landscape.

Leasing contracts for private residential properties in Singapore surged by 24.2% quarter-on-quarter in Q3 2025, reaching 26,882 contracts, according to Savills Singapore. This marks the highest quarterly volume in four years, driven by seasonal factors such as the start of the academic year for international schools. The increase also represents a 3.2% year-on-year rise from the same period last year.

Landed homes saw the most significant growth with a 36.4% increase, whilst non-landed units grew by 23.6%. The Outside Central Region (OCR) led the non-landed segment with a 24.6% rise, followed by the Rest of Central Region (RCR) and Core Central Region (CCR) with gains of 24.2% and 21.7%, respectively.

Despite the robust leasing activity, the number of Employment Pass holders has been declining, dropping from 205,400 in December 2023 to 201,200 by June 2025. Alan Cheong, Executive Director of Research and Consultancy at Savills Singapore, noted, “All may be well with the leasing market for now, but the road ahead is clouded by business uncertainty.”

Normanton Park emerged as the top non-landed residential project with 199 leasing contracts, overtaking The Sail @ Marina Bay, which fell to third place with 156 leases. Midtown Modern, completed in Q1 2025, ranked second, benefiting from its connectivity to Bugis Interchange MRT Station and local amenities.

Looking forward, the rental market may face moderation due to ongoing business uncertainties and economic factors. Although the Urban Redevelopment Authority’s rental index increased by 2.4% year-to-date, private residential rents are expected to remain flat for the remainder of 2025.