Industry News

Engels Sense, a Singapore-based ambient scent marketing company, has introduced a festive scenting programme designed for shopping malls, hotels, and retailers in anticipation of the Christmas and Lunar New Year seasons. The initiative includes the development of seasonal fragrances and the installation or recalibration of diffusion equipment, with scheduled replenishment throughout the festive period.

The programme offers clients a choice from over 400 curated blends or the option to develop a seasonal variation from their existing signature scent. The application of these scents varies by setting. For instance, hotels will carry the festive scent from the lobby through to corridors, maintaining the property’s core scent identity. Retail chains will have each outlet calibrated for airflow, ceiling height, and door traffic to ensure consistent fragrance strength.

Engels Sense’s approach allows for efficient integration of commercial scenting, with HVAC installations scheduled overnight or outside business hours to minimise disruption. This is particularly crucial as both the hotel and retail sectors approach peak capacity during December and January. Singapore recorded 16.9 million international visitor arrivals in 2025, with forecasts of 17 million to 18 million for 2026. Hotel occupancy reached 83.1% in Q1 2026, and retail sales rose 2.7% year-on-year in December 2025.

The festive scenting programme is available for other key seasonal occasions throughout the year. Engels Sense, which has collaborated with brands such as CapitaLand and Frasers Property, advises operators to confirm installations before the Christmas trading period begins. Founded in 2009, Engels Sense provides a comprehensive range of scent marketing services across various sectors, adhering to international standards and guidelines.

JLL is marketing a detached food factory located at 30 & 32 Tuas Avenue 12 for S$19m. The facility, approved for food manufacturing, spans a site area of 97,095 square feet with a gross floor area of approximately 74,751 square feet. Classified as “Business 2” under the Urban Redevelopment Authority’s Master Plan 2025, the property offers significant expansion potential with an under-utilised plot ratio allowing for an additional 61,000 square feet of development.

The food factory is strategically positioned for food and beverage operations, particularly those requiring powder blending capabilities. Its dual access points and direct vehicle access to production areas make it ideal for distribution and warehousing operations. The asset benefits from existing food zone approval, a valuable feature in Singapore’s supply-constrained market.

Situated on two adjacent JTC leasehold plots with remaining land tenures of 25 and 16 years, the property offers operational flexibility and expansion options. Jolyon Thomson, Head of Industrial & Logistics at JLL Singapore, highlighted the demand for such facilities, stating, “Food manufacturing assets with existing approvals are particularly sought after as they remain a relatively scarce asset class in Singapore.”

Located in the heart of Tuas industrial estate, the property is near major food manufacturers and benefits from direct access to Ayer Rajah Expressway and proximity to Tuas Second Link. The developing Tuas Mega Port will further enhance connectivity. The property is available for sale via private treaty.

Singtel and Ericsson have announced a five-year strategic partnership to advance Singapore’s 5G capabilities and accelerate the adoption of AI-native applications. This collaboration aims to develop more intelligent and resilient networks for both businesses and consumers. The partnership will focus on scaling 5G Advanced and AI-powered network capabilities, supporting applications such as autonomous vehicles and industrial robotics.

The agreement builds on a recent live-network trial that demonstrated a 19% improvement in throughput using AI-powered radio access network capabilities. This highlights the potential for AI to optimise network resources and manage growing traffic demands more efficiently. Singtel and Ericsson plan to integrate AI further into network operations to enhance performance, efficiency, and reliability.

Singtel’s CEO, Ng Tian Chong, emphasised the importance of making these capabilities more accessible and commercially viable, stating, “Our priority is to make these capabilities more widely accessible and commercially viable, whilst continuing to strengthen the reliability, security and performance of our network.”

The partnership will also explore opportunities at major developments, including Changi Airport Terminal 5 and upcoming JTC developments. For consumers, the collaboration aims to deliver faster, more responsive connectivity and introduce services tailored to evolving digital lifestyles.

Ericsson’s Head of Singapore, Brunei, and Philippines, Daniel Ode, noted, “By combining 5G, 5G Advanced, and AI-native operational capabilities, we are scaling programmable, differentiated connectivity to support Singapore’s digital ambitions.”

This partnership signifies a significant step in enhancing Singapore’s digital infrastructure, promising new opportunities for innovation and growth in the AI era.

Horizon3, an AI-native proactive cybersecurity firm, has announced its strategic expansion into Singapore, supported by investments from the Singapore Economic Development Board (EDB) and EDBI. This move aims to address the increasing demand for continuous, evidence-based cybersecurity validation across Southeast Asia as AI-driven cyberattacks grow in complexity.

The company will set up its ASEAN headquarters and a Regional Centre of Excellence in Singapore, enhancing its presence in Australia and Japan. This expansion follows Horizon3’s $250m Series E funding round in August 2026, which valued the company at over $2b.

Horizon3’s decision aligns with Singapore’s national cybersecurity priorities, shifting from periodic assessments to continuous proof of cyber resilience. CEO Snehal Antani emphasised the need for organisations to prove their cyber resilience amidst AI-enabled cyber warfare. “Our expansion in Singapore, supported by EDB and EDBI, positions Horizon3 at the centre of Southeast Asia’s digital economy,” Antani stated.

Gareth Cox, Vice President for Asia Pacific and Japan, highlighted Singapore’s strategic importance due to its concentration of financial institutions and critical infrastructure operators. He noted that Singapore’s regulatory framework sets expectations for measurable security, making it an ideal base for regional operations.

The expansion will enable Horizon3 to scale its operations across Southeast Asia, deepen partnerships with local Managed Security Service Providers, and collaborate with Singapore’s cybersecurity ecosystem. EDBI’s Senior Partner, Yeung Chia Li, expressed confidence in Horizon3’s technology and its contribution to Singapore’s cybersecurity ecosystem.

Horizon3’s Singapore expansion is set to bolster its go-to-market operations, enhance local partnerships, and support the region’s shift towards continuous security validation.

Aolani, a Singapore-founded neocloud company, has announced the signing of Letters of Intent to secure up to 500 megawatts (MW) of AI data centre capacity in Malaysia. This expansion is set to commence in the second half of 2027, across multiple sites, enhancing Aolani’s AI factories and GPU deployment capabilities.

The new facilities will be built to Tier III standards, ensuring high reliability and performance. Aolani’s commitment to Malaysia is projected to reach 580MW by 2027, a significant increase from the 80MW already committed in 2026. Malaysia’s appeal as a destination for AI infrastructure investment is attributed to competitive power costs, available land, and supportive government policies.

This expansion will cater to global hyperscalers and AI-native companies, whilst also providing local access to AI computing resources. Aolani is exploring partnerships to support Malaysian AI programmes, enterprises, researchers, and startups. Nicholas Chia, CEO of Aolani, emphasised Malaysia’s strategic importance, stating, “Malaysia is a vital strategic anchor for Aolani and a proven home market where we continue to grow our footprint as a hyperlocal neocloud.”

The Letters of Intent are non-binding and subject to further negotiations. Founded in 2023, Aolani is committed to advancing AI infrastructure in Asia, enabling organisations to scale and innovate rapidly.

The OCBC SME Index for the third quarter of 2026 has remained in expansion territory, registering a score of 51.9. This growth is largely driven by outward-oriented sectors such as Information and Communications Technology (ICT) and Manufacturing, which have benefited from strong demand in trade, electronics, and artificial intelligence-related industries. The index, which uses transactional data from over 100,000 OCBC Bank SME customers, indicates that whilst most sectors have shown improvement, the pace of growth remains uneven.

According to Elaine Heng, Head of Global Commercial Banking at OCBC, “The OCBC SME Index remained expansionary in the third quarter, underpinned by strong momentum in outward-oriented sectors whilst growth across domestically oriented sectors has been more measured.” The index’s findings are supported by the OCBC SME Business Outlook poll conducted in September, which revealed that 35% of respondents reported improved business conditions compared to June.

Despite the positive overall trend, SMEs face challenges such as elevated cost pressures in energy, logistics, and manpower. These factors are contributing to increased transactional values, reflecting both higher prices and improved business activity. The GDP nowcast based on the index aligns closely with the Ministry of Trade and Industry’s advance estimates, at approximately 5.3%.

Looking forward, the outlook for SMEs is expected to remain varied across industries. Those able to manage costs, enhance productivity, and leverage technology are likely to seize emerging opportunities. The poll also highlighted that 42% of SME business owners anticipate better conditions in the near term, with optimism particularly strong among outward-oriented SMEs.

HistoIndex, a Singapore-based biotechnology firm, has announced a partnership with the Agency for Science, Technology and Research (A*STAR) to advance the early-stage development of therapies for fibrotic diseases. This collaboration aims to leverage HistoIndex’s proprietary imaging technology to enhance the understanding and treatment of these conditions.

The partnership will focus on utilising HistoIndex’s stain-free imaging technology, which provides high-resolution images of tissue samples. This technology is expected to significantly improve the analysis of fibrotic tissues, allowing for more precise identification of disease markers and progression. A*STAR’s expertise in biomedical research will complement this by providing the necessary scientific insights and resources.

Fibrotic diseases, which involve the thickening and scarring of connective tissue, affect millions worldwide and are associated with conditions such as liver cirrhosis and pulmonary fibrosis. The collaboration between HistoIndex and A*STAR is poised to accelerate the development of effective treatments, potentially transforming the landscape of fibrotic disease management.

HistoIndex’s CEO expressed optimism about the partnership, stating, “This collaboration with A*STAR will enable us to push the boundaries of fibrotic disease research and develop therapies that can make a real difference in patients’ lives.”

The partnership marks a significant step forward in the fight against fibrotic diseases, with the potential to lead to breakthroughs in both diagnosis and treatment. As research progresses, the collaboration could pave the way for new therapeutic options, offering hope to those affected by these challenging conditions.

Singapore’s non-oil domestic exports (NODX) experienced a remarkable increase of 68.4% year-on-year in September, significantly exceeding the Bloomberg consensus projection of 32.2%. This surge was primarily driven by a substantial rise in non-electronics exports, which jumped 58.4% month-on-month, according to UOB Global Economics and Markets Research.

The notable growth in non-electronics exports was attributed to “lumpy exports of ship and boat structures” and non-monetary gold, as stated by Enterprise Singapore. Excluding these nominal increases, NODX would have still risen by 36.1% year-on-year. In contrast, electronics exports saw a modest decline of 6.5% month-on-month, following two months of strong growth.

Within the electronics sector, integrated circuits, personal computers, and disk drives experienced softer demand, reflecting a broader resilience despite the decline. Meanwhile, the non-electronics sector saw a sharp contraction in pharmaceuticals but a positive surprise in petrochemicals, which grew by 9.9% month-on-month amidst ongoing supply disruptions in the Middle East.

Looking ahead, UOB anticipates that electronics NODX will remain resilient through 2026 and into early 2027, supported by robust order books and depleting inventory levels. However, the bank expects AI-related growth to moderate in the second half of 2027, influenced by higher global interest rates and a potential slowdown in global AI-related capital expenditure growth.

New private home sales in Singapore experienced a significant rebound in September 2026, as buyers returned to the market following the conclusion of the Lunar Seventh Month. According to data from the Urban Redevelopment Authority (URA), sales of new homes, excluding Executive Condominiums (ECs), rose by 93.5% month-on-month, from 153 units in August to 296 units in September. Including ECs, the increase was 86.5%, with sales climbing from 171 to 319 units.

The surge in sales was particularly notable in the latter half of September, with two-thirds of transactions occurring between 11 and 30 September. This suggests a seasonal slowdown during the Lunar Seventh Month, followed by a strong recovery. Christine Sun, Chief Researcher and Strategist of Realion (OrangeTee & ETC) Group, noted that the number of new sales for October had already surpassed September’s figures by mid-month.

Two new projects, Amberwood at Holland and Luxus Hills, were launched in September. Amberwood at Holland saw the highest demand, with 24 out of 70 units sold in its first phase, driven by interest from owner-occupiers and families.

The Rest of Central Region (RCR) led the sales, accounting for 44.3% of the total, followed by the Outside Central Region (OCR) and Core Central Region (CCR). The luxury market also remained robust, with notable transactions in the CCR, including a unit at Skywaters Residences sold for S$11.5m.

Looking ahead, new private home sales are expected to rise in the last quarter of 2026, with upcoming launches such as Lucerne Grand and Thomson Reserve anticipated to attract strong interest. These projects offer strategic locations and amenities appealing to both investors and homeowners.

Toku Ltd., a Singapore-based AI-powered customer experience platform, has announced an upward revision of its revenue growth forecast for the financial year 2026 (FY2026). The company now expects organic revenue growth to exceed 20%, with second-half growth projected to surpass 26%. This marks a significant increase from the previous guidance, which anticipated second-half growth above 13%.

The company’s order book has also seen a substantial increase, standing at $35.4m as of 30 September 2026, a 20.8% rise from June. This figure excludes revenue from consumption-driven usage in Carrier Services. The revised guidance is based on unaudited management figures and reflects Toku’s confidence in its ongoing projects and market conditions.

The updated forecast underscores Toku’s robust performance and strategic positioning in the AI-driven customer experience sector. The company attributes its optimistic outlook to the successful execution of its projects and the anticipated signing of renewals at current values. Additionally, Toku’s order book is expected to contribute significantly to future revenue, with $8.9m anticipated to be recognised in FY2027.

Toku’s revised guidance assumes that usage volumes will follow historical patterns and that no major customer will significantly reduce traffic. The company also expects that projects will be delivered on schedule and that the pipeline will convert into signed contracts at a steady pace. The guidance remains subject to various factors, including market conditions and economic policies, which could influence the final outcome.