Industry News

Penta, a global leader in stakeholder solutions, has appointed former UK Foreign Secretary and Chancellor of the Exchequer, Philip Hammond, to its Global Advisory Board. Hammond, who joined on 1 August 2025, brings extensive governmental experience to the firm, which aims to redefine reputation management through data-driven strategies.

Hammond’s political career spanned over two decades, serving as a Conservative Member of Parliament and holding key positions such as Secretary of State for Transport, Defence, and Foreign Affairs. As Chancellor, he managed the UK economy during the post-Brexit period, achieving record employment levels and stabilising public finances.

At Penta, Hammond will provide strategic guidance to clients facing commercial challenges and support the firm’s leadership in its growth ambitions. Matt McDonald, CEO of Penta, stated, “This appointment is a true validation of Penta’s proposition: to serve the world’s most consequential organisations as best-in-class strategic advisers.”

The appointment follows an investment from Shamrock Capital, enabling Penta to enhance its data, analytics, and AI capabilities. This move is expected to strengthen Penta’s offerings for enterprises navigating complex stakeholder relations in a rapidly changing environment.

New home sales in Singapore more than doubled in August 2025, marking the highest monthly sales recorded for the year and the strongest August since 2007. According to the Urban Redevelopment Authority (URA), sales excluding Executive Condominiums (ECs) soared by 127.9% from 940 units in July to 2,142 units in August. Including ECs, sales increased by 78.3% to 2,338 units.

The surge was largely attributed to five new project launches, including the 941-unit Springleaf Residence and the 524-unit River Green. Springleaf Residence emerged as the best-selling project, with 93.9% of its units sold, driven by its attractive pricing and proximity to the Springleaf MRT station. River Green also performed well, selling 86.1% of its units, appealing to buyers with its competitive pricing and location near Orchard Road.

The market saw a significant distribution of sales across different regions, with 53.8% of transactions occurring in the suburbs or Outside Central Region (OCR), 23.9% in the prime Core Central Region (CCR), and 22.2% in the city fringe or Rest of Central Region (RCR).

In the luxury market, 22 non-landed homes priced between $3.65 million (S$5 million) and $7.3 million (S$10 million) were sold, although this was slightly lower than the 28 units sold in July. Demand for ultra-luxury condos remained steady, with two units from 21 Anderson transacted at $38.2 million (S$52.3 million) and $15.4 million (S$21.1 million).

Looking ahead, more housing options are expected post-lunar seventh month, with several medium to large-sized developments slated for launch. The stabilisation of US tariffs and anticipated drops in interest rates may further encourage hesitant buyers to enter the market.

ST Engineering has officially opened a new engine maintenance, repair, and overhaul (MRO) facility in Paya Lebar, Singapore, marking a significant expansion of its Commercial Aerospace business. This multimillion-dollar facility is set to double the company’s capacity for CFM56 and LEAP engine maintenance to over 300 engines annually by 2027. Combined with its Xiamen, China facility, the total capacity will exceed 400 engine shop visits per year.

The expansion not only aims to meet the growing demand for engine maintenance but also to create over 300 high-value jobs in Singapore. The facility will leverage advanced technologies, including AI-enabled hardware sorters and automated cleaning systems, to enhance operational efficiency.

Jeffrey Lam, President of Commercial Aerospace at ST Engineering, stated, “This expansion reflects our commitment to staying ahead of industry demand and delivering the highest standards in engine MRO.”

In addition to increasing capacity, ST Engineering is broadening its services to include performance restoration and full overhaul shop visits for LEAP-1A and LEAP-1B engines. This move is expected to better serve the needs of airlines as they expand and renew their fleets.

In August 2025, Singapore’s property market witnessed a significant surge in developer sales, reaching 2,142 units, excluding Executive Condominiums. This marks a 127.9% increase from July’s 940 units and a staggering 915.2% rise compared to August 2024. The spike in sales was largely attributed to developers rushing to launch new projects before the onset of the Lunar Seventh month on 23 August, according to Leonard Tay, Head of Research at Knight Frank Singapore.

The month’s top performer was Springleaf Residence, which sold 94% of its 941 units at a median price of S$2,166 per square foot. This is only the second time in the past year that monthly sales have exceeded 2,000 units, with the previous instance being November 2024. Other notable projects included River Green and Promenade Peak, which sold 451 and 333 units, respectively.

Local homebuyers were the primary drivers of this activity, purchasing properties for personal use and leasing to foreign professionals. The Additional Buyer’s Stamp Duty continues to deter foreign buyers, but new citizens and permanent residents are actively acquiring homes in Singapore’s stable environment. Despite recent increases in Seller’s Stamp Duty rates and extended holding periods, the market remains robust, with 7,669 primary transactions recorded in the first eight months of 2025.

Looking ahead, sales are expected to decline in September and December due to fewer project launches during the Lunar Seventh month and year-end holidays. However, the appetite for new homes remains strong, with sales likely to reach or even surpass the upper end of Knight Frank’s forecasted range of 7,000 to 9,000 units for the year.

FOMO Group has announced that SGX Group (Singapore Exchange) has become a shareholder. This strategic move enhances FOMO Group’s blue-chip investor base and bolsters confidence in its long-term vision.

FOMO Group offers comprehensive financial services, including cross-border payments, cross-asset investments, and real-world asset tokenisation. With SGX Group’s robust capital markets infrastructure, FOMO Group aims to explore opportunities in digital capital markets, tokenised asset trading, and real-time stablecoin settlements.

Louis Liu, CEO of FOMO Group, expressed enthusiasm about the collaboration, stating, “We are excited to welcome SGX Group as our newest shareholder. This represents a vote of confidence in our strategy and an opportunity to collaborate with SGX Group, Asia’s leading and trusted securities and derivatives market infrastructure.”

Amit Kedia, Executive Director of Finance and Corporate Development at SGX Group, highlighted the potential for innovation in digital finance, emphasising the need for regulated solutions that enhance market connectivity and efficiency. “FOMO Group is helping to build the foundation for the next generation of digital finance—seamless, secure, and borderless financial experiences across the region,” Kedia noted.

Founded in 2015, FOMO Group is a prominent fintech company based in Singapore committed to developing trusted, regulated, and interoperable financial solutions. With SGX Group’s support, FOMO Group is poised to accelerate innovation and deliver greater value across the capital markets and digital finance landscape.

Hong Leong Finance (HLF) has officially launched the HLF Digital app, a mobile platform designed to offer customers seamless and secure financial management. Since its pilot phase in August 2024, the app has seen over 14,000 sign-ups and facilitated more than $730 million (S$1 billion) in digital transactions, including over $440 million (S$600 million) in fixed deposits.

The app, spearheaded by HLF’s leadership team, including President Ang Tang Chor, aims to enhance customer experience by integrating digital convenience with traditional branch services. Users can perform various transactions, such as opening accounts, placing fixed deposits, and transferring funds, all within a secure digital environment. The app employs advanced encryption and multifactor authentication to ensure data security.

Ang Tang Chor highlighted the app’s role in the company’s transformation journey, stating, “The launch of HLF Digital marks a significant milestone. It reflects our commitment to making financial services more accessible and efficient.”

HLF, part of the Hong Leong Group Singapore, continues to be a leader in the finance sector, with a strong network of branches and accolades such as the ASEAN Finance Company of the Year. The HLF Digital app is set to further solidify its position by offering innovative and customer-centric financial solutions.

Etiqa Insurance Singapore has launched its new brand campaign, “Live Ready With You,” aimed at supporting Singaporeans through life’s unexpected challenges. The campaign highlights the importance of preparation, protection, and partnership in navigating unforeseen circumstances.

The campaign builds on Etiqa’s “With You” narrative, focusing on empowering individuals to face the future with resilience and confidence. It features emotive stories that capture life’s unpredictable moments, such as health scares and surprise proposals, illustrating how the right support can help individuals be ready for whatever comes next.

Raymond Ong, CEO of Etiqa Insurance Singapore, stated, “Readiness is not about having all the answers but about having a trusted partner who gives you the confidence to move forward. ‘Live Ready With You’ is our commitment to stand by our customers through life’s unexpected moments.”

The campaign will run for 12 weeks across various media channels, including digital platforms, out-of-home advertising, and Etiqa’s owned channels. It aims to reinforce Etiqa’s role as more than just an insurer but as a partner providing peace of mind and support when it matters most.

StarHub, in partnership with Hoppr, has launched Dynamic Ad Pods, a pioneering solution in Singapore that replaces ads in real time on live broadcast TV channels. This innovation allows advertisers to target audiences with precision during live programmes, a feature previously limited to on-demand shows.

Dynamic Ad Pods utilise Connected TV (CTV) Server-Side Ad Insertion (SSAI) technology, drawing on insights from 175 million hours of viewing data. This enables different households watching the same live broadcast to see tailored ads, enhancing relevance and reducing media waste. The ads are seamlessly integrated using Dynamic Break Matching, ensuring minimal disruption to the viewing experience.

The new solution offers flexibility with formats such as skippable pre-rolls and stitched mid-rolls, delivered in full-screen, sound-on environments to maximise engagement. Unlike traditional TV advertising, Dynamic Ad Pods provide personalised ad replacements down to each screen, with built-in brand safety controls and frequency capping.

Beyond television, StarHub’s CTV solution extends campaigns to digital channels like display and WhatsApp, allowing brands to retarget viewers and drive conversions through a connected customer journey. This integration of live TV’s reach with digital media’s precision offers businesses a powerful tool for achieving stronger outcomes.

StarHub’s initiative marks a significant advancement in TV advertising, combining the storytelling power of live broadcasts with the accountability of digital media, ultimately enhancing the viewing experience at home.

Global Asset Solutions has appointed Leanne Reddie as its new chief commercial officer as the company opens a new office in Singapore to support its growth in the Asia Pacific region. Reddie, who previously held the same position at Chedi Hospitality, brings 25 years of experience in the hospitality industry, having worked with Emirates Airlines, Jumeirah Group, and Rosewood Hotels & Resorts.

Reddie’s extensive background includes a Masters of Business from Murdoch University and qualifications in hotel real estate investments and asset management from Cornell University. Her expertise spans Europe, the Middle East, Africa, China, and Asia Pacific, where she has successfully led teams and managed hotel openings.

Alex Sogno, CEO of Global Asset Solutions, expressed enthusiasm about Reddie’s appointment, stating, “We are thrilled to have someone of Leanne’s calibre joining the team in this latest phase of growth.” Reddie herself commented, “I am looking forward to working with the team and using my knowledge of portfolio management, brand strategy, revenue optimisation, and digital transformation.”

The move into Singapore follows Global Asset Solutions’ merger with Perceptions Hospitality, significantly expanding its presence in the region with nearly 60 luxury and upper-upscale hotels added to its portfolio. The company also released market research indicating that luxury and upscale assets accounted for almost 85% of hotel investments in Asia Pacific during 2024, driven by increased liquidity and a strong dollar.

Global Asset Solutions continues to provide independent hotel asset management services worldwide, managing over $20bn in assets across Europe, Asia, and the Middle East.

Singapore Post Limited (SingPost) is set to launch Speedpost Direct International Retail on 15 September 2025, a new shipping solution tailored for retail customers. This initiative comes in response to recent changes in US import regulations, which have eliminated de minimis exemptions for shipments. The service offers a Delivery Duty Paid (DDP) solution, ensuring compliance with the new rules and providing transparency at every step.

The Speedpost Direct International Retail service allows retail customers to send parcels to the US using standard packaging options provided by SingPost. Customers can choose between an envelope or a box, both available at fixed rates: S$29 for items up to 0.5kg and S$69 for items up to 2kg. Each shipment’s value must not exceed $100 (US$100). Neo Su Yin, Group Chief Operating Officer at SingPost, highlighted the service’s core benefit: “Our post office staff will assist customers in calculating and collecting all necessary duties and taxes upfront, eliminating the surprise of unexpected fees for the recipient.”

The service covers over 80% of typical shipment sizes to the US. For packages exceeding 2kg or valued over $100 (US$100), customers are advised to use the premium Speedpost Express International service, which offers express delivery within three to six days.

This launch follows significant changes in US customs policy, effective 29 August 2025, which now subjects all commercial items to duties and taxes. SingPost’s new service aims to protect customers from potential delays or parcel seizures, providing a reliable alternative as postal networks adapt to the new requirements.
“`