Industry News

A remarkable 11,800 visitors attended the public preview of Thomson Reserve over the weekend, setting a new record for UOL Group Limited (UOL) and CapitaLand Development (CLD). This turnout significantly exceeded the 10,000 visitors recorded at PARKTOWN Residence, highlighting the strong appeal of this five-hectare private residential development.

Thomson Reserve, located in the established Upper Thomson neighbourhood, offers excellent connectivity, extensive greenery, and spacious upscale homes. Its proximity to reputable schools, such as Ai Tong School within one kilometre, enhances its attractiveness to young families. A spokesperson for UOL and CLD noted, “The excellent locational attributes and the distinctive product offering of Thomson Reserve, coupled with limited supply in the vicinity, have generated strong interest across unit types.”

The development has drawn a diverse range of prospective buyers, including first-time homeowners, young families with school-going children, multi-generational families, and right-sizers. Additionally, it has attracted younger buyers looking to live near their parents, reflecting its enduring appeal and long-term value.

The overwhelming response to Thomson Reserve underscores the demand for quality residential developments in Singapore, particularly those offering a blend of modern amenities and strategic location. As interest continues to grow, the development is poised to become a sought-after address in the region, promising a vibrant community for its future residents.

Arthur Altounian has been appointed as the new Managing Director of We Are Social Singapore, overseeing both We Are Social Singapore and influencer marketing agency Kobe. Altounian, who previously worked with WPP Media and GOAT, brings over 20 years of experience in commercial media and influencer marketing across the Asia-Pacific region. His appointment aims to drive the next phase of growth for both agencies.

Altounian’s extensive background includes leading client growth and commercial operations in more than 15 APAC markets, with a focus on creator and influencer marketing. His expertise is expected to enhance the collaboration between We Are Social and Kobe, whilst maintaining their distinct client-facing brands. Both agencies will operate from a shared office in Singapore, strengthening their market presence.

We Are Social, known for its social-first ideas and strategies, helps brands grow through integrated social media solutions. Kobe, acquired by We Are Social in 2022, specialises in influencer marketing with a network of over 14 million creators. The agencies aim to leverage their combined strengths to offer clients more comprehensive and flexible solutions.

The leadership team in Singapore is further bolstered by the recent appointment of Kamakshi Thareja as Head of Strategy. Thareja brings 16 years of experience in strategy across Asia, enhancing the agency’s growth potential in Southeast Asia.

Evangeline Leong, founder and CEO of Kobe, will step down at the end of October after a decade of leadership. Suzie Shaw, APAC CEO at We Are Social, praised Leong’s contributions, stating, “Kobe’s reputation and expertise are a testament to what she has created.”

Altounian expressed enthusiasm for the new role, highlighting the potential for growth by integrating the strengths of both agencies. “For our clients, it means more depth, more flexibility and easier access to the right expertise,” he said.

In a groundbreaking operation at PSA’s Pasir Panjang Terminal, Singapore has successfully conducted the world’s largest ethanol bunkering operation. This initiative, completed on 17 October 2026, involved Maersk, Golden Island Pte Ltd, and PSA Singapore, with support from the Maritime and Port Authority of Singapore (MPA). The operation saw the Maersk Halifax, a dual-fuel container vessel, bunkered with 5,000 metric tonnes of ISCC-certified bioethanol, marking a significant step in the maritime industry’s transition to sustainable fuels.

The operation, conducted simultaneously with cargo operations, utilised a mass flow metre (MFM) for the bunkering process. This achievement provides valuable data for adapting Singapore’s methanol bunkering standards to ethanol, which shares similar handling characteristics. The findings will also assess the feasibility of using existing MFM systems for future ethanol bunkering.

Safety was paramount, with a comprehensive Hazard Identification and Hazard and Operability Study workshop conducted prior to the operation. MPA ensured that crew members were well-trained in handling the marine fuel and emergency responses, leveraging experiences from methanol bunkering.

Ang Wee Keong, CEO of MPA, highlighted the operation’s role in testing Singapore’s infrastructure for supporting emerging marine fuels. Emma Mazhari, Head of Energy Markets at Maersk, emphasised the importance of a multi-fuel strategy in the energy transition. Johnny Tan, Managing Director of Golden Island, expressed pride in the successful execution and collaboration with partners.

This operation not only advances Singapore’s readiness for lower-carbon fuel options but also supports the maritime industry’s decarbonisation efforts, paving the way for a more sustainable future.

Singapore Airlines (SIA) has announced the appointment of Lee Theng Kiat and Henrik Poulsen to its board, effective 19 October 2026. Lee will serve as a non-independent, non-executive director, whilst Poulsen will take on the role of an independent, non-executive director. These appointments aim to strengthen the airline’s governance and strategic oversight.

Lee, who is not a nominee of SIA’s largest shareholder, Temasek Holdings, will join the Board Executive Committee and the Board Safety and Risk Committee. His extensive experience is expected to contribute significantly to these critical areas. Poulsen will join the Board Safety and Risk Committee from 15 February 2027, bringing his independent perspective to the airline’s risk management and safety protocols.

The inclusion of Lee and Poulsen is part of SIA’s ongoing efforts to enhance its board’s diversity and expertise. Their appointments are anticipated to provide fresh insights and strengthen the airline’s strategic direction as it navigates the evolving aviation landscape.

These strategic board appointments underscore SIA’s commitment to maintaining robust governance structures and ensuring comprehensive oversight of its operations. As the airline continues to adapt to industry challenges, the expertise of its new board members will be crucial in guiding its future initiatives.

Seven in 10 Singaporean Gen Zs and Millennials find cruising an appealing way to explore Europe, according to a recent study by Royal Caribbean and YouGov. The research highlights a growing trend among younger Singaporeans who are seeking seamless multi-destination travel experiences in Europe, without the stress of traditional travel logistics.

The study, conducted across five Asia Pacific markets, reveals that 91% of Singaporean travellers find navigating multiple European cities tiring and stressful, the highest percentage among the surveyed regions. This has led to a significant interest in cruising as an alternative, with 73% of those who have previously travelled in Europe finding it attractive compared to 50% of those who have not.

Cruise travel is also gaining popularity among families, with 72% of parents with children under 18 expressing interest in exploring Europe by cruise. This mode of travel ranks ahead of short-haul flights, private cars, and buses for intra-European transport.

The findings coincide with the introduction of Royal Caribbean’s Legend of the Seas, which offers new Mediterranean itineraries from Barcelona and Rome. The cruise line aims to provide a more accessible way for Asian travellers to experience Europe, focusing on reducing travel logistics and enhancing the holiday experience.

Ben Bouldin, President, Greater China and Managing Director Asia at Royal Caribbean, noted, “Travellers are increasingly looking for holidays that are seamless, enriching, and full of adventure.” The study underscores the appeal of cruising as a way to maximise holiday time, with onboard entertainment and dining experiences further enhancing the journey.

CBRE has announced the sale of a rare, fully equipped speciality chemicals manufacturing facility located at 33 Ayer Merbau Road on Jurong Island, Singapore. The sale, managed via private treaty, offers a unique opportunity for investors and occupiers in the chemical sector. The facility, situated on a 278,000 sq ft land parcel with a remaining tenure of 13 years, includes a process plant, laboratory, control room, and office buildings.

The site is zoned Business 2, allowing for a potential gross floor area of 278,000 sq ft, significantly more than its current 25,730 sq ft. This underdevelopment presents substantial expansion opportunities for future growth. Originally configured for alkoxylation and surfactant production, the facility is adaptable for various high-value chemical applications.

A notable feature of the property is its fully decommissioned and decontaminated status, allowing immediate recommissioning without extensive remediation. The facility is equipped with comprehensive process and utility infrastructure, including reactors, filtration tanks, and chilling systems, supported by a Tier-1 Distributed Control System.

Graeme Bolin, Head of Occupier and Leasing, Industrial & Logistics Services at CBRE, highlighted the scarcity of such opportunities on Jurong Island, emphasising the facility’s strategic location within Asia’s chemical manufacturing hub. “The property’s existing infrastructure and expansion potential offer a faster route to market compared to new developments,” Bolin stated.

The facility’s proximity to key MRT stations and its integration within the chemical ecosystem enhance its appeal, making it a compelling proposition for those seeking immediate access to Singapore’s premier chemical and energy cluster.

Singapore’s non-oil domestic exports (NODX) experienced a remarkable 68.4% increase in September 2026 compared to the same month last year, according to Enterprise Singapore. This growth follows a 46.1% rise in August 2026, highlighting a robust expansion in the country’s trade activities. The surge was primarily driven by non-electronic exports, notably the lumpy exports of ship and boat structures, whilst electronics continued to thrive due to strong demand for AI-related products such as disk media, integrated circuits (ICs), and personal computers (PCs).

The non-oil re-exports (NORX) also saw a substantial rise, increasing by 47.8% in September 2026, albeit at a moderated pace from the 53.2% growth in August. Electronics played a significant role in this expansion, with non-electronic products also contributing positively.

Total merchandise trade in Singapore expanded by 50.8% in September 2026, extending the 44.4% growth observed in the previous month. Both exports and imports contributed to this increase, with non-oil exports growing by 53.5% and oil exports by 39.3%.

The US, Taiwan, and Hong Kong were among the top markets for Singapore’s NODX in September 2026, with significant contributions from disk media products, specialised machinery, and non-monetary gold. However, NODX to India saw a decline.

This robust trade performance underscores Singapore’s strategic position in global trade, particularly in the electronics sector, and highlights the growing demand for AI-related products. The continued expansion of both exports and imports suggests a positive outlook for Singapore’s trade activities in the coming months.

RHB Bank has revised its full-year forecast for Singapore’s Non-Oil Domestic Exports (NODX) growth to 25%, up from the previous estimate of 15.5%. This adjustment follows a robust year-to-date growth of 27.6%, as reported by Barnabas Gan, Group Chief Economist and Head of Market Research at RHB Bank. The stronger export performance is expected to bolster Singapore’s GDP growth forecast, which remains at 5% for the year.

The upward revision is largely attributed to the global technology upcycle, driven by increased digitalisation and the adoption of artificial intelligence (AI). Gan noted that whilst the outlook for Singapore’s NODX in 2026 and 2027 remains positive, the sustainability of this export momentum will depend on the AI investment cycle and the broader global trade environment.

In September, Singapore’s NODX soared by 68.4% year-on-year, with a month-on-month seasonally adjusted increase of 25.5%. This sharp acceleration from August’s revised 46.1% year-on-year rise significantly exceeded both Bloomberg’s and RHB’s forecasts of 32.2% and 31.5%, respectively.

The report highlights the potential for continued growth in Singapore’s exports and manufacturing activities, benefiting from the ongoing global technology trends. However, it also cautions that external factors, such as global trade dynamics, could impact the long-term sustainability of this growth.

Swap Mobile has officially launched in Singapore, introducing a new mobile service that allows users to change their phones every six months and adjust their mobile plans monthly. This digital-first Mobile Virtual Network Operator (MVNO), powered by StarHub’s 4G and 5G network, aims to offer greater flexibility and control over mobile experiences.

Swap Mobile’s service includes a Device Subscription, enabling customers to access flagship and mid-range smartphones without upfront costs. Users can request a new phone every six months by returning their current device and starting a new 24-month subscription. Additionally, the service offers customisable mobile plans where users can adjust data, talk time, and SMS allowances monthly. Both 4G and 5G plans come with APAC roaming data, with extra options for Malaysia, Indonesia, and Thailand.

Protection is also a key feature, with every Device Subscription including Swap Protect Pro, covering accidental damage and theft at no extra cost. Standalone SIM plans offer Screen Crack Protect. Launch promotions offer SIM plans from S$1/month and Device Subscriptions from S$5.90/month for the first three months.

Andy Tan, Managing Director of Swap Asia Group, stated, “Mobile services have traditionally been built around fixed plans and upgrade cycles. Consumers do not live that way anymore.” The company aims to provide a flexible mobile experience that adapts to changing consumer needs.

Following its Singapore launch, Swap Mobile plans to expand its offerings to include travel connectivity, streaming, and insurance services, aiming to create a comprehensive subscription ecosystem.

The Monetary Authority of Singapore (MAS) has announced the appointment of Loh Khum Yean to its Board of Directors, effective from 1 November 2026 until 31 May 2029. Loh, who currently chairs the Maritime and Port Authority of Singapore, brings a wealth of experience from his previous roles, including Permanent Secretary in various ministries and Chairman of the Civil Service College.

Loh’s appointment is expected to enhance the board’s capabilities, given his deep understanding of economic, legal, and manpower policies. Gan Kim Yong, Deputy Prime Minister and Chairman of MAS, stated, “We welcome Loh Khum Yean to the MAS Board. His extensive experience across a range of public sector institutions will bring valuable perspectives to the MAS Board.”

The MAS Board, effective 1 November 2026, will include notable figures such as Gan Kim Yong as Chairman, Chee Hong Tat as Deputy Chairman, and other distinguished members from various sectors. This diverse composition is aimed at steering the MAS with comprehensive insights and strategic oversight.

Loh’s addition to the board underscores MAS’s commitment to leveraging experienced leadership to navigate the complexities of Singapore’s financial landscape. His tenure is anticipated to contribute significantly to the board’s strategic direction and governance.