Industry News

ComfortDelGro ENGIE, a prominent electric vehicle (EV) charging provider in Singapore, has announced new partnerships with Yinson GreenTech and LHN Energy, significantly expanding its charging network. This development comes as EV registrations in Singapore surged by 63.2% in the first half of 2025 compared to the previous year, highlighting the growing demand for robust charging infrastructure.

The partnerships appoint ComfortDelGro ENGIE as the EV charging point operator for multiple sites managed by Yinson GreenTech and LHN Energy. This expansion brings the total number of active charge points to over 2,100 across more than 510 locations in Singapore and Malaysia. The collaboration aims to enhance charging accessibility and reliability for EV drivers, offering seamless convenience through the CDG ENGIE app, which supports cross-border charging.

Freddie Chew, General Manager of ComfortDelGro ENGIE, stated, “This partnership reflects strong market confidence in our proven track record and operational excellence. We believe that we are best placed to support long-term growth and continuous innovation of the EV charging ecosystem.”

The move positions ComfortDelGro ENGIE as one of the largest EV charging networks in Singapore, aligning with the government’s goal to install charging points at all publicly accessible car parks by 2030. This initiative supports Singapore’s net-zero emissions target by 2050 and is expected to further drive the adoption of electric vehicles in the region.

Australian biotech company and Temasek backed innovator Samsara Eco has appointed Lars Kissau as its first General Manager for Asia, marking a significant step in its regional expansion. Based in Singapore, Kissau will oversee the launch of Samsara Eco’s inaugural 20,000-tonne nylon 6,6 plant in 2028, utilising the company’s EosEco technology. This move is part of Samsara Eco’s mission to establish a circular plastics economy.

Kissau brings over 20 years of experience from BASF, where he led the Net Zero Accelerator, focusing on low carbon and circular economy technologies. His expertise is expected to bolster Samsara Eco’s efforts to meet the growing demand for sustainable materials.

The appointment follows the opening of Samsara Eco’s first industrial-scale recycling plant in Jerrabomberra, Australia. The company aims to address the recycling challenge, as currently only 10% of plastics and less than 1% of textiles are recycled. Samsara Eco’s enzymatic recycling technology, EosEco, aims to change this by recycling previously unrecyclable materials.

Kissau will lead the construction of the new plant, the first of many planned facilities, and expand the regional team to support operations. With Temasek as a lead investor, Samsara Eco is well-positioned to leverage Singapore’s biotech ecosystem for its regional expansion.

The iEdge Singapore Next 50 Index has seen significant growth in value and liquidity during the third quarter of 2025, with Food Empire Holdings leading the charge. The company secured $31.3m (S$42.8m) through a strategic treasury share placement on 24 September, enhancing its market presence and liquidity. This move has propelled Food Empire to become the seventh most actively traded stock in the local market.

Nine out of ten constituents of the iEdge Singapore Next 50 Index recorded higher average daily trading turnover in Q3 2025 compared to the first half of the year. Notable growth was observed in companies such as Banyan Tree Holdings, PropNex, and China Aviation Oil Singapore Corp. Additionally, the price-to-book ratios for nine out of ten constituents have increased, with PropNex and Yangzijiang Financial Holding leading the way.

The iEdge Singapore Next 50 Index, which excludes the 30 most actively traded stocks by market capitalisation, complements Singapore’s established benchmarks. It maintains a combined market capitalisation of $63.8 billion (S$87 billion) and an average daily turnover of $117.2m (S$160m) as of 24 September 2025.

Food Empire’s recent share placement attracted interest from institutional investors, including Amova Asset Management and Lion Global Investors. The placement, priced at $1.85 (S$2.52) per share, represented a 5.38% discount to the previous day’s volume-weighted average price. This strategic move is expected to enhance Food Empire’s trading liquidity and market float, positioning the company for future growth opportunities and strengthening investor confidence.

Solas Fiduciary Services, a leader in directorships and corporate governance, has inaugurated a new office in the Dubai International Financial Centre (DIFC). This strategic move aims to bolster Solas’s presence in key financial hubs worldwide. The Dubai office will enable Solas to offer its international expertise directly to clients in the Middle East, enhancing its services already available in Singapore and Hong Kong.

The expansion into Dubai is seen as a natural progression for Solas, given the region’s commitment to a transparent and well-regulated financial environment. Martin O’Regan, Managing Director of Solas Fiduciary Services, expressed enthusiasm about the new office, stating, “Being in the heart of a thriving financial ecosystem and close to leading global fund managers will accelerate our growth and enhance the value we deliver.”

Corina Quah, Director at Solas, highlighted the alignment between Dubai’s regulatory environment and Solas’s values. The firm, founded in 2016, is Asia’s only independent pureplay directorship provider, with a network spanning the Americas, Caribbean, Europe, MENA, and Asia-Pacific.

Solas’s new office in Dubai is expected to strengthen its governance services and foster new partnerships in the Middle East. The firm remains committed to delivering exceptional governance and supporting clients across the region.

A consortium of developers, including UOL Group Limited, Singapore Land Group Limited, CapitaLand Development, and Kheng Leong Company, is set to unveil Skye at Holland, a high-end residential development in Holland Village, Singapore. This marks the first significant private residential launch in the area since 2019. Public previews will commence on 26 September, with the official launch slated for 11 October.

Skye at Holland, a 99-year leasehold development, spans approximately 133,343 square feet and features two 40-storey towers. It offers a range of indoor and outdoor facilities, surrounded by Good Class Bungalow areas. The development will be the tallest in the Holland Village vicinity upon completion.

The flats are priced from $1.51m for a two-bedroom unit, $2.40m for a three-bedroom unit, and $3.34m for a four-bedroom unit with a private lift.

Located near Holland Village MRT station, Skye at Holland is well-connected to key areas and surrounded by vibrant enclaves such as Dempsey Hill. The development is also close to popular schools and nature spots like the Singapore Botanic Gardens. Skye at Holland is expected to achieve its Temporary Occupation Permit in 2029.

Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) and Indosuez Wealth Management have inaugurated a new office in Singapore, located at the IOI Central Boulevard Towers in the city’s central business district. This move consolidates their operations into a modern, 43,420 square feet workspace across two floors, aligning with Crédit Agricole Group’s strategy for growth in the Asia-Pacific region.

The new office is part of Crédit Agricole Group’s workplace enhancement initiative, designed to foster collaboration, flexibility, and sustainability. Antoine Sirgi, Senior Country Officer for Singapore, emphasised the office’s role in adapting to evolving work environments, stating, “This new chapter reflects Crédit Agricole CIB’s commitment to adapting to the evolving work environment whilst supporting the continued growth of our business activities.”

The opening coincides with two significant milestones: Crédit Agricole’s 120 years in Singapore and the nation’s 60th year of independence. Laurent Proutière, Chief Executive Officer Asia and Singapore Branch Manager at Indosuez Wealth Management, highlighted Singapore’s importance as a regional hub, noting, “The relocation demonstrates our confidence in Singapore’s role as a regional hub for wealth management by investing in fresh premises that support our business and growing client base in Asia.”

Seatrium Offshore Technology (SOT) has signed a Memorandum of Understanding (MoU) with Cochin Shipyard Limited (CSL), India’s largest shipbuilder, to bolster cooperation in the offshore sector across India and Asia. This strategic partnership aims to leverage SOT’s engineering expertise and CSL’s infrastructure to address the growing demand for maritime infrastructure and energy solutions in the region.

The collaboration will focus on Maintenance, Repair, and Overhaul (MRO) projects for clients operating in Asia, with plans to explore further opportunities in other key offshore markets. The MoU establishes a framework for joint marketing, project execution, and technology collaboration, paving the way for a long-term partnership to support regional energy transition and offshore development.

Winston Cheng, senior vice president and head of SOT, highlighted the significance of this agreement, stating, “This MoU is a strategic milestone in Seatrium’s efforts to expand our global footprint across Asia, with India identified as a key market for long-term growth.” He emphasised the potential for collaboration and innovation in India’s rapidly developing offshore energy sector.

The partnership builds on a previous collaboration between Seatrium Letourneau USA, Inc. and CSL, signed in November 2024, for the joint design and supply of critical equipment for jack-up rigs in the Indian market. This agreement lays the foundation for Seatrium’s long-term involvement in India’s offshore industry, supporting the country’s efforts to enhance energy security amidst rapid industrialisation and urbanisation.

As India is poised to lead global oil demand growth, reaching an estimated 6.6 million barrels per day by 2030, this collaboration positions Seatrium as a key player in driving sustainable offshore development in the region.

The Singapore Department of Statistics has released the Services Producer Price Indices for the second quarter of 2025, revealing varied trends across different sectors. Cargo handling prices increased by 0.7% compared to the first quarter, whilst sea freight transport experienced a notable decline of 4.2%. Other sectors, including freight forwarding and accounting services, saw decreases of 1.6%, with postal and courier services dropping by 1.0% and computer consultancy and information services by 0.7%. Telecommunications services and warehousing and storage prices remained unchanged.

These indices are crucial for understanding the cost dynamics within Singapore’s service sectors, impacting businesses and economic planning. The decline in sea freight transport prices could be indicative of shifting global trade patterns or competitive pressures, whilst the rise in cargo handling suggests increased demand or operational costs.

These indices not only reflect current market conditions but also help businesses and policymakers anticipate future trends, making them an essential tool for strategic decision-making in Singapore’s dynamic economy.

OCBC has announced the appointment of Carina Lee as the new Group Chief Risk Officer, effective 1 January 2026. Lee, currently the Group Chief Credit Officer for the wholesale banking business, will take over from Noel Gerald DCruz, who is retiring after a distinguished 36-year career with the bank.

Lee brings over 28 years of banking experience, having joined OCBC in January 2021. She has been pivotal in managing the credit risks of the bank’s wholesale banking loan portfolio and has led initiatives to diversify the loan portfolio into high-growth sectors like Technology, Media, and Telecommunications. Prior to OCBC, Lee held senior roles in a global bank, focusing on operational risk management and credit policy.

Helen Wong, OCBC’s Group Chief Executive Officer, praised DCruz’s contributions, stating, “Noel’s pivotal role in establishing a robust risk management foundation has been instrumental in the growth and stability of our businesses.” She also expressed confidence in Lee’s capabilities, noting her “well-calibrated approach to risk and reward.”

Lee’s appointment comes at a time of increased volatility and uncertainty in the operating environment, making effective risk management more crucial than ever. Her extensive experience and leadership qualities are expected to be valuable assets to OCBC’s management team.

Karl Hudson has been appointed as the new General Manager of JW Marriott Singapore South Beach, bringing with him a wealth of experience from overseeing the opening of more than 80 hotels during his tenure with Marriott International. Hudson, who previously served as Regional Vice President for Japan and Guam, aims to enhance the hotel’s distinctive character and strengthen its position as a premier destination for both business and leisure.

Hudson’s leadership will focus on three key areas: M.I.C.E excellence, destination dining, and luxury lifestyle positioning within Marina Bay. He emphasises the importance of preserving the hotel’s unique energy and creativity, stating, “My focus is on preserving and amplifying what makes this hotel unique. Its energy, creativity, and sense of place give it character.”

Located in Marina Bay, the 634-room hotel is a significant player in Marriott International’s luxury portfolio. It boasts a striking Grand Ballroom with a Forest of Lights installation and versatile event spaces, making it an ideal venue for world-class gatherings. Hudson plans to steer the hotel’s next phase of growth by focusing on people, personalisation, and place-making.

Hudson believes that true luxury is deeply personal, shaped by how guests feel. “For some, luxury is tradition and refinement. For others, it’s about surprise and delight,” he explains. Under his leadership, JW Marriott Singapore South Beach aims to be both approachable and elevated, ensuring it remains a standout destination where business and leisure converge seamlessly.