Industry News

Grab has announced updates to its Cross-Border SG-JB (Beta) pilot, which has completed over 1,000 rides since its launch on 4 May 2026. The service, connecting Singapore with areas in Malaysia such as Johor Bahru and Iskandar Puteri, now features a shortened advance booking window and streamlined return bookings. Passengers can book rides just six hours in advance, down from the previous 12-hour requirement. Additionally, an automated notification will prompt passengers to book their return journey immediately after securing their initial ride.

Alvin Wee, Senior Director of Transport & Country Operations at Grab Singapore, expressed gratitude to passengers and taxi driver-partners for their feedback, which has been instrumental in shaping these updates. “With the June holidays coming, we expect an increase in Singapore-Malaysia trips among families and friends, and we look forward to supporting such travel needs,” he said.

To encourage more commuters to try the service during the upcoming school holidays, Grab is increasing its cross-border ride discount to up to 30% from 29 May to 28 June 2026, up from the initial 20% discount offered earlier in May. As the first platform to receive the Cross-Border Ride-Hail Service Operator Licence under the enhanced Cross-Border Taxi Scheme, Grab aims to refine its operations and deliver a reliable service by working closely with regulators, taxi driver-partners, and passengers.

Singapore’s import prices experienced a slight decline of 0.3% in April 2026, contrasting with a significant 17.1% increase in March, according to the Department of Statistics. This decrease was primarily driven by a 2.6% drop in oil prices, following a substantial 78.9% surge the previous month. In contrast, the non-oil import index saw a modest rise of 0.8%, attributed to higher prices in machinery, transport equipment, and chemicals.

Meanwhile, export prices in Singapore rose by 3% in April, building on an 11.9% increase in March. The oil export index increased by 7.5%, albeit at a slower pace than the 60.1% rise in March. The non-oil export index also grew by 1.5%, largely due to higher prices in chemicals, machinery, and manufactured goods.

Year-on-year, the import price index showed an 18.4% increase, with oil prices up by 72.6% and non-oil prices by 3.6%. The export price index rose by 13.3% compared to April 2025, with oil and non-oil indices increasing by 67.2% and 1.9%, respectively.

These fluctuations in import and export prices reflect ongoing changes in global commodity markets, impacting Singapore’s trade dynamics. The data provides valuable insights into the economic conditions affecting Singapore’s importers and exporters, highlighting the influence of oil prices and other key commodities on trade indices.

Pokémon Centre Singapore is set to reopen on 1 July 2026 at Jewel Changi Airport, following extensive renovations. This marks the first major overhaul of a Pokémon Centre outside Japan, aiming to better serve the growing Pokémon community in Singapore and the region. The revamped store will feature interior designs inspired by Singapore’s cultural identity, a new symbol Pokémon, and exclusive Singapore-themed merchandise.

The Legendary Pokémon Solgaleo has been chosen as the new symbol for the store, prominently displayed on the store’s logo and façade. Shunsuke Sasaki, Managing Director of Pokémon Singapore, expressed excitement about the reopening, stating, “We hope to inspire even greater love for Pokémon and encourage fans to visit Pokémon Centre Singapore to fully immerse themselves in the experience with this renewed store.”

The store’s interior design incorporates elements of Singapore’s cultural heritage, offering a familiar yet unique experience for local fans and visitors. A dedicated event space at the rear of the store will host video game, trading card game, and app gaming events, further establishing the centre as a hub for Pokémon enthusiasts worldwide.

To celebrate the reopening, a range of commemorative merchandise will be available, including plush toys of Solgaleo and Pikachu, and items inspired by the iconic kopi cup. The first wave of 12 products will launch on the reopening day, with additional items debuting in August.

To manage the expected demand, admission during the first five days will be regulated through advance reservations and same-day queue entry tickets. For more details, fans are encouraged to follow the official Pokémon Centre Singapore Instagram page.

Singaporeans are increasingly turning to artificial intelligence (AI) for both everyday tasks and significant life events, yet many lack confidence in identifying AI-generated scams, according to a new study by TrendLife, the consumer business unit of Trend Micro Incorporated. The study, “Digital Life and AI Experiences,” highlights a growing gap between AI adoption and preparedness against AI-enabled threats.

The research surveyed over 500 Singaporeans and found that nearly 70% use AI tools during major life events, significantly above the global average. However, fewer than 20% feel very confident in spotting AI-generated scams or deepfakes. This confidence gap is concerning, especially as AI-enabled scams, such as deepfake Zoom impersonations of senior government officials, have resulted in losses of at least S$4.9m.

Despite high awareness of the risks associated with sharing personal information with AI tools, many Singaporeans do not feel adequately prepared to respond to AI-enabled threats. Ashley Millar, Consumer Education Director at TrendLife, emphasised the importance of ingraining safety in every AI interaction, stating, “Our findings show that whilst many recognise the need to better protect themselves in an AI-driven digital world, they do not feel adequately prepared to do so.”

The study also revealed that Singaporeans use AI tools at higher rates than other surveyed markets for tasks such as writing emails, travel planning, and online shopping. However, significant life events like big-ticket purchases and job searches are perceived as particularly vulnerable to scams and identity theft.

To combat these risks, the study suggests practical steps such as creating a family anti-scam playbook and using AI-powered tools to enhance digital protection. As AI continues to integrate into daily life, awareness and preparedness remain crucial for navigating its challenges safely.

Seatrium Limited has announced its financial results for the first quarter of 2026, revealing a robust net order book of S$15.5b across 24 projects, with deliveries scheduled through 2033. The company, which specialises in offshore, marine, and energy sectors, has successfully delivered two major projects: the Trailing Suction Hopper Dredger Frederick Paup and the Wind Turbine Installation Vessel Maersk Viridis.

The company is on track for margin improvements, driven by a better project mix and reduced overheads. The completion of non-core asset divestments is expected to unlock over S$50m in annual operational cost savings and more than S$330m in cash. CEO Chris Ong stated, “We continued to carry the momentum gained in FY2025 into the new financial year with steady project execution and margin improvements.”

Seatrium’s financial health remains strong, bolstered by a S$3b Multicurrency Debt Issuance Programme, which includes a successful issuance of S$400M in senior unsecured notes. This move aims to diversify funding sources and extend maturities.

The company has secured its eighth Floating Storage and Regasification Unit (FSRU) conversion project, LNGT Karadeniz, marking the first of three such projects from a previous letter of intent. Seatrium’s pipeline opportunities exceed S$28b over the next 24 months, spanning oil and gas, offshore wind, and conversions.

Looking ahead, Seatrium aims to convert pipeline opportunities into order book growth, focusing on high-quality projects and strengthening its margin profile for long-term resilience.

FairPrice Group (FPG) has announced an extension and expansion of its price freeze initiative, locking prices on over 500 essential items from 1 June to 31 August 2026. This move, marking the third extension since April, aims to support Singaporean households facing ongoing global economic uncertainties and supply chain disruptions.

The initiative covers a wide range of daily essentials, including rice, cooking oil, eggs, vegetables, fresh and frozen protein, milk, and senior and baby care products. This expansion follows an earlier price freeze on 300 items in May and initially started with 100 essentials in April.

Group CEO Vipul Chawla stated, “Our rapid response in April proved that freezing prices works to protect household budgets. However, dealing with prolonged global uncertainties requires a deeper, more sustained commitment.” He emphasised the importance of keeping daily necessities affordable for all Singaporeans.

Ng Chee Meng, Secretary-General of NTUC, highlighted the significance of this initiative, noting, “For many of our workers and families, the rising cost of living is a real concern. NTUC and FairPrice Group hear their worries and are taking action to help them further.”

This price freeze is part of a broader support ecosystem by FPG, which includes discounts for CHAS cardholders, a BestSellers for Less campaign, and distribution of festive care packs. Looking ahead, FPG plans to introduce tailored support initiatives for seniors and vulnerable communities, ensuring that assistance reaches those who need it most.

Sanli Environmental Limited has reported a 31.3% increase in net profit for the financial year ending 31 March 2026, despite a decline in revenue. The company’s net profit rose to S$2.3m, whilst revenue fell by 11.4% to S$139.6m due to extended project timelines in its Engineering, Procurement, and Construction (EPC) segment. The EPC segment remains the largest contributor to the group’s revenue, generating S$95.3m.

Sanli’s gross profit margin improved from 9.3% in FY2025 to 11.1% in FY2026, attributed to cost efficiencies and savings in raw material costs within the EPC segment. The company also reported a strengthened balance sheet, with a net asset value per share of 18.27 Singapore cents as of 31 March 2026.

The group has an order book valued at S$748.1m with a focus on timely project execution for both private and public sector clients, including PUB and LTA. Sanli’s Emerging Business Segments saw significant growth in chemical manufacturing, with sales of magnesium hydroxide slurry exceeding 1,000 tonnes, up from less than 200 tonnes in the previous year.

Sanli’s CEO, Sim Hock Heng, highlighted the company’s commitment to improving operating margins and exploring new opportunities within the environmental industry. The company has proposed a final dividend of 0.189 Singapore cents per share, representing approximately 30% of the net profit attributable to shareholders.

CapitaLand Ascott Trust (CLAS) has announced the divestment of The Robertson House by The Crest Collection in Singapore for S$360m. The transaction, set to complete in the third quarter of 2026, is with an unrelated third party and represents a 4% premium over the property’s book value as of 31 December 2025. The sale will yield a net gain of approximately S$38.1m for CLAS.

The divestment aligns with CLAS’ strategy to reconstitute its portfolio and improve financial flexibility. Chief Executive Officer Serena Teo stated, “The divestment of The Robertson House by The Crest Collection at an attractive price of close to S$1.1m per key underscores CLAS’ disciplined approach to portfolio reconstitution.” The proceeds will be used to invest in higher-yielding properties, support asset enhancement initiatives, repay high-interest debt, or fund general corporate purposes.

Despite the sale, Singapore remains a key market for CLAS, which will continue to operate four lodging properties in the city-state. Among these, Somerset Clarke Quay Singapore is undergoing redevelopment and is expected to be completed by the end of 2026, contributing income from early 2027.

CLAS, Asia Pacific’s largest lodging trust, manages a diverse portfolio across 16 countries, focusing on serviced residences and hospitality assets. The trust’s strategic divestment is part of its ongoing efforts to strengthen its portfolio’s resilience and pursue value-accretive opportunities in developed markets.

Thakral Corporation Ltd has completed the acquisition of an additional 81.6% stake in TIL Investments Private Limited, increasing its ownership in the Gurugram mixed-use healthcare-led development to 95.3%. The acquisition, valued at S$93.9m, was finalised through a combination of S$50m in cash and the issuance of 24,217,108 new shares at S$1.8128 each.

The project, located on a 21-acre site in New Gurugram, is set to begin its execution phase, anchored by a hospital and wellness centre. These will be followed by residential and commercial components developed through revenue-sharing partnerships. The remaining 4.7% of TIL is held by Platinum Healthcare.

Inderbethal Singh Thakral, CEO and Executive Director of Thakral, expressed enthusiasm for the project, stating, “We are excited to play a meaningful role in Gurugram’s next phase of development, with a deliberate, multi-pronged approach across hospitals, wellness, residential and commercial uses on a single 21-acre site.”

The development is strategically positioned in Gurugram, a key office hub within Delhi NCR, known for its luxury housing market and proximity to major infrastructure. The phased development model aims to limit Thakral’s exposure to development and operational risks whilst ensuring revenue from the land.

This acquisition strengthens Thakral’s strategic control over the site, which has a development potential of over 2.5 million square feet, and aligns with the company’s broader investment strategy in India, a market projected to see significant economic growth in the coming years.

KSH Holdings Limited has announced a significant financial turnaround for the fiscal year ending 31 March 2026, reporting a net profit of S$6.8m. This marks a substantial recovery from the previous year’s loss of S$5.9m. The construction and property development group attributes this success to a robust order book valued at S$965m, which provides a solid foundation for future earnings.

Despite a 17.4% decline in total revenue to S$149.9m, primarily due to the completion of several projects in the first half of the fiscal year, KSH has maintained profitability. Newly secured projects in the latter half of the year are expected to contribute to revenue in the coming periods. Executive Chairman and Managing Director Choo Chee Onn highlighted the group’s focus on timely delivery and cost management as key factors in sustaining profitability.

KSH’s property development ventures in Singapore, including The Arcady at Boon Keng and One Sophia, have shown promising progress with steady sales. The group’s share of unrecognised revenue from property development units sold stands at approximately S$187m, which will be recognised progressively.

The company also announced a proposed final dividend of 1.00 Singapore cents per share, bringing the total dividend for FY2026 to 1.50 Singapore cents per share. This move underscores KSH’s commitment to delivering sustainable shareholder returns.

Looking ahead, KSH remains optimistic about the long-term prospects of the Singapore construction sector, despite navigating a dynamic operating environment. The group continues to focus on prudent capital management and operational excellence to drive sustainable growth.