Industry News

Beecroft Animal Specialist & Emergency Hospital and Income Insurance Limited have introduced Singapore’s first cashless value-added service for pet surgeries. Launched on 4 November, this initiative allows Income Happy Tails policyholders to have their pets undergo pre-approved surgeries at Beecroft without upfront cash deposits, thanks to a Letter of Guarantee. This service is set to minimise out-of-pocket expenses for pet owners.

The collaboration marks a significant milestone in Singapore’s veterinary and pet insurance sectors by implementing a direct claims processing and financing infrastructure for animal healthcare. This model, akin to the cashless hospitalisation system in human healthcare, is expected to encourage broader adoption across the veterinary industry, enabling pet owners to access timely care without financial hesitation.

Dr Patrick Maguire, founder and specialist surgeon at Beecroft, stated, “This partnership is a turning point for Singapore’s veterinary landscape. As one of the few locally owned independent hospitals, we’re proud to champion a model that ensures financial inclusivity, medical transparency and timely care for all pets.”

Income Insurance’s Chief Customer Officer, Dhiren Amin, highlighted the growing number of pet owners in Singapore and the need for accessible veterinary care. “We are proud to partner Beecroft Animal Specialist & Emergency Hospital to introduce Singapore’s first cashless value-added service for scheduled pet surgeries,” he said.

This initiative aligns with national goals set by the Animal & Veterinary Service and the Singapore Veterinary Association to enhance accessibility and welfare standards. The Beecroft–Income collaboration is expected to pave the way for similar partnerships, offering new models of financial support and administrative efficiency in veterinary medicine.

CUSTA, a regional customisation e-commerce platform, has revamped its Singapore service by doubling its catalogue to 4,000 items and introducing unlimited customisation options. This innovative approach allows users to view instant best-price and lead-time displays, significantly reducing traditional procurement cycles from 8–15 days to within a week, with some orders fulfilled on the same day.

The platform’s relaunch is timely as Singapore’s digital economy continues to grow, reaching $82.7b (S$113.2b), with an 11.2% compound annual growth rate since 2018. Despite 83% of small and medium enterprises (SMEs) having digital strategies, fewer than half succeed due to cost and complexity. CUSTA’s frictionless, automation-led platform addresses these challenges, making it increasingly relevant in the market.

Joe Takagi, CUSTA’s CEO, highlighted the impact of the platform, stating, “Real-time pricing and AI-assisted quoting are redefining B2B and SME procurement.” The platform’s mass customisation capabilities are set to transform Singapore’s design, retail, and creative sectors.

To celebrate its second anniversary, CUSTA has launched a Service Renewal Campaign, offering promotional discounts and free design support for orders exceeding $73 (S$100). The company also plans to expand into enterprise-grade customisation and regional markets, aligning with Singapore’s digital economy goals.

CUSTA’s innovative platform is poised to enhance digital adoption among SMEs, balancing cost, creativity, and efficiency, and setting a new standard for customisation in Singapore.

Singapore’s primary-listed companies have collectively repurchased S$1.91b worth of shares on the open market in the first 10 months of 2025, marking a 90% increase compared to the same period in 2024. This surge in buybacks surpasses the previous high of S$1.89b recorded in 2015, as reported by the Singapore Exchange (SGX).

The increase in buybacks is attributed to market volatility, with the Straits Times Index (STI) experiencing an 8% drop in April, which coincided with a quarter of the total buyback value for the year. Companies often engage in share buybacks to enhance financial metrics such as Earnings per Share (EPS) and Return on Equity (ROE), as well as to deploy surplus capital effectively.

Among the notable buybacks, 17Live Group repurchased S$6.2m of its shares at an average price of S$0.925, representing 3.4% of its market capitalisation. The group emphasised its disciplined approach to capital deployment in a recent investor presentation. Global Investments also made significant buybacks, acquiring S$4.5m worth of shares at an average price of S$0.126.

The buyback activity was predominantly driven by 11 stocks with market capitalisations exceeding S$10b, contributing S$1.76b, or 92%, of the total consideration. Smaller and mid-cap stocks accounted for S$144m, whilst those with market capitalisations under S$100m contributed S$6m.

As the year progresses, the trend of share buybacks is expected to continue, reflecting companies’ strategies to manage capital and respond to market conditions.

NetLink NBN Trust has announced a Distribution Per Unit (DPU) of 2.71 Singapore cents for the half-year ending 30 September 2025, marking a 1.1% increase from the previous period. The rise in DPU is attributed to a revenue increase of $2.3m, reaching $207.1m, primarily due to higher ancillary project and co-location revenues.

The company’s core fibre business remains resilient, with ancillary project revenue up by $2.2m, reflecting the completion of more government projects. Co-location revenue also saw a $1.3m boost, supported by increased rack space take-up and a one-off cost recovery from the Nationwide Broadband Network upgrade. However, these gains were partially offset by a decline in connections revenue.

Despite a slight decrease in EBITDA due to increased operating expenses, the NetLink Group’s net cash from operating activities stood at $108.6m. Profit After Tax (PAT) fell by 10.2%, primarily due to higher depreciation and amortisation costs from the Seletar Central Office.

The NetLink Group remains committed to distributing 100% of its cash available for distribution semi-annually. Unitholders will receive their distribution on 28 November 2025, with the register closing on 17 November 2025.

Looking forward, the group plans to continue strategic investments to meet growing demand and enhance its fibre network infrastructure. It also aims to explore new opportunities in telecommunications and infrastructure-related businesses, aligning with its strategic objectives. The group is focused on cost management and operational excellence to support Singapore’s digital ambitions and maintain sustainable distributions.

Meta has unveiled a series of new anti-scam tools and expanded digital literacy initiatives to bolster online safety for Singaporeans. In the first half of 2025, the company acted against nearly 12 million scam-linked accounts globally, including over 68,000 fake accounts and 650,000 scam-related ads in Singapore alone.

The new safeguards include alerts on WhatsApp when users attempt to share screens with unknown contacts and advanced scam detection on Messenger. These tools are designed to help users identify and avoid scams before any harm occurs. Clara Koh, Head of Public Policy for Central Southeast Asia & ASEAN at Meta, stated, “At Meta, protecting our users from scams is a top priority. The launch of these anti-scam tools in Singapore and our ongoing public education campaigns underscore our continuing commitment to user safety.”

Beyond technology, Meta participated in the Infocomm Media Development Authority’s Digital for Life Festival, offering resources to help parents and youths develop healthy digital habits and recognise scams. Doreen Tan, Assistant Chief Executive at IMDA, expressed gratitude for Meta’s support, noting the importance of collaboration in fostering a more inclusive digital society.

Meta has also partnered with local podcasts to spread awareness, encouraging Singaporeans to enable two-step verification and use block and report features on WhatsApp. John Chua, CEO of GRVTY Media, highlighted the significance of these initiatives in building a safer digital environment.

Videotto, an AI-driven video automation startup co-founded by Singapore Polytechnic and Ngee Ann Polytechnic’s students, has successfully secured venture capital funding to advance its AI video technology. The funding aims to accelerate the development and implementation of innovative AI solutions in video production, a rapidly growing sector in the digital economy.

The initiative brings together expertise from multiple polytechnics to push the boundaries of AI in video technology. This funding will enable the team to enhance their research and development efforts, focusing on creating more efficient and sophisticated AI tools for video editing and production.

The venture capital backing is a significant milestone for Videotto, reflecting the growing interest and investment in AI technologies. The funding will support the project’s goal of making AI-driven video solutions more accessible and effective for various industries, including media, entertainment, and education.

The funding is expected to facilitate the expansion of Videotto’s capabilities, allowing for the development of cutting-edge AI applications that can transform video production processes. As the demand for high-quality video content continues to rise, Videotto’s advancements could play a crucial role in shaping the future of the industry.

JTC has announced the launch of a site at Penjuru Road under the Industrial Government Land Sales (IGLS) programme for the second half of 2025. This site, which features a 33-year lease tenure, is part of recent enhancements to the industrial land lease framework aimed at providing more flexibility for industrial developments.

The Penjuru Road site spans 2.09 hectares with a gross plot ratio of 2.5, and is zoned for B2 industrial use. It is the third of five Confirmed List sites available in the current IGLS programme phase. The tender for this site will close on 23 December 2025 at 11:00 am.

Interested parties can acquire the Tenderer’s Packet for $135 (S$185.30), inclusive of GST, through the official JTC website. This initiative is part of JTC’s ongoing efforts to facilitate industrial growth and development in Singapore by offering strategically located sites with flexible leasing options.

Singapore, Chile, and New Zealand have commenced negotiations for a plurilateral Green Economy Agreement, marking a significant step towards fostering sustainable economic practices. The discussions, announced today, aim to create a framework that will enhance collaboration on green initiatives and promote environmentally friendly trade policies among the three nations.

The proposed agreement seeks to address pressing environmental challenges by encouraging sustainable development and reducing carbon footprints. It is expected to cover a range of areas, including renewable energy, sustainable agriculture, and green technology. The initiative underscores the countries’ commitment to combating climate change and promoting a sustainable future.

Singapore’s Ministry of Trade and Industry highlighted the importance of this collaboration, stating that the agreement will “facilitate the exchange of best practices and innovative solutions” to environmental issues. This move aligns with the global push towards achieving net-zero emissions and sustainable growth.

The negotiations are set to explore various mechanisms to support green investments and trade, potentially setting a precedent for similar agreements worldwide. By pooling resources and expertise, the three countries aim to accelerate the transition to a low-carbon economy.

As the talks progress, stakeholders from various sectors will be engaged to ensure the agreement’s comprehensive and inclusive nature. The successful conclusion of these negotiations could pave the way for more countries to join the initiative, expanding its impact on global sustainability efforts.

Hilton, in collaboration with Aravest and Wee Hur Property Pte. Ltd., has announced the debut of the DoubleTree by Hilton brand in Singapore. The new hotel, DoubleTree by Hilton Singapore Robertson Quay, is set to open in 2026 following a comprehensive transformation of the existing Hotel Miramar. This marks Hilton’s fifth brand in Singapore, expanding its presence in the Asia Pacific region.

The 344-room riverfront hotel will undergo extensive renovations to revitalise its guestrooms, meeting spaces, and amenities, including a new kids’ club and pickleball courts. Located along the Singapore River in Robertson Quay, the hotel will offer convenient access to key business and leisure destinations, such as Clarke Quay and Orchard Road.

Moses K Song, CEO of Aravest, expressed confidence in the project’s potential, stating, “We are confident that the hotel’s refreshed design, uplifted spaces and thoughtful amenities will be further enhanced by DoubleTree’s signature warmth and hospitality, creating memorable stays for every guest.” Maria Ariizumi, Hilton’s vice president of Development for South East Asia, highlighted the strategic importance of the project, noting that it will expand the property’s market reach and contribute to the vibrancy of Robertson Quay.

The partnership reflects a shared commitment to enhancing Singapore’s hospitality landscape through innovative asset enhancement initiatives. With this opening, Hilton will add to its Singapore pipeline of more than 500 rooms, including the upcoming NoMad Singapore. The DoubleTree by Hilton brand is renowned for its warm hospitality and adaptability, making it an ideal choice for this strategic expansion.

Soon Hock Enterprise Holding Limited has reported a notable increase in pre-sales for its industrial development, Stellar@Tampines. As of 31 October 2025, the company has pre-sold 222 units, up from 168 units on 15 September 2025, reflecting strong market interest in the nine-storey development located in Singapore’s east region.

The development offers 311 strata-titled units with a total saleable area of 49,558 square metres. The project is valued at an estimated $238.5m (S$326.5m). Soon Hock Enterprise aims to secure a partial Temporary Occupancy Permit by the end of 2025, with full completion expected by March 2026.

Executive Director and CEO Walter Tan Min Loon highlighted the project’s appeal, stating, “The continued strong pre-sales performance demonstrates the market’s confidence in Stellar@Tampines’ flexible layouts, functional design, and future-ready features.” The development’s innovative design and sustainability features have been key factors in its success.

With options to purchase issued for an additional 24 units, Soon Hock Enterprise continues to demonstrate its commitment to delivering high-quality industrial spaces that meet evolving business needs.