Industry News

Digital Edge has successfully closed its inaugural US$575m holding company loan, marking a pivotal step in its growth as a leading digital infrastructure platform in the Asia-Pacific region. The funds will bolster the company’s expansion across key markets, including South Korea, Japan, India, and South East Asia, to meet the rising demand for hyperscale and AI-ready data centre infrastructure.

The financing was strongly supported by a consortium of lenders, with Clifford Capital, Deutsche Bank, MUFG, Sumitomo Mitsui Banking Corporation, and Standard Chartered acting as mandated lead arrangers and book runners. BNP Paribas and Stonepeak Credit also participated as mandated lead arrangers. The majority of these lenders are existing partners, reflecting confidence in Digital Edge’s operational capabilities and long-term development plans.

A notable feature of the loan is its potential conversion into a Sustainability-Linked Loan (SLL), contingent on setting ambitious sustainability performance targets. MUFG, Sumitomo Mitsui Banking Corporation, and Standard Chartered will coordinate this aspect.

John Freeman, CEO of Digital Edge, stated, “This HoldCo facility represents the next evolution of our capital structure, extending our sustainable financing approach to the corporate level whilst strengthening our ability to execute with speed and discipline as AI and hyperscale demand accelerates across the region.”

CFO Jonathan Walbridge added that the facility enhances capital deployment efficiency and embeds ESG accountability into their financial framework, aligning with the company’s sustainable growth strategy. Digital Edge, headquartered in Singapore and backed by Stonepeak, continues to power digital transformation with sustainable infrastructure solutions across nine countries in the region.

Singapore’s external trade experienced a robust increase in April 2026, with total merchandise trade rising by 33.1% year-on-year, according to Enterprise Singapore. This growth follows a 38.3% expansion in March, highlighting the continued strength of the country’s trade sector.

Non-oil domestic exports (NODX) expanded by 24.5% in April, building on a 15.3% increase in March. The surge was largely driven by electronics, which saw a 66.7% rise due to strong demand for AI-related products such as integrated circuits (ICs), disk media products, and personal computers (PCs). Non-electronic NODX also grew by 10.9%, with pharmaceuticals, specialised machinery, and measuring instruments contributing significantly.

Non-oil re-exports (NORX) rose by 29.6% in April, although this was a slowdown from the 60.8% growth seen in March. Electronics were again a major factor, with a 41.6% increase, supported by non-electronics which grew by 9.1%.

The top markets for NODX included the US, China, and South Korea, all of which saw substantial growth. NODX to the US increased by 59.6%, driven by pharmaceuticals and disk media products. China and South Korea also recorded significant expansions of 37.8% and 71.2%, respectively.

Overall, both exports and imports contributed to the rise in total merchandise trade. The data underscores Singapore’s position as a key player in global trade, with electronics and pharmaceuticals leading the charge. As the country continues to adapt to international demand, these sectors are expected to remain pivotal in driving future trade growth.

Metro Holdings Limited has reported a loss after tax of S$203.1m for the financial year ending 31 March 2026, a slight improvement from the S$224.7m loss recorded in FY2025. The property investment and development group cites prolonged headwinds in China’s property sector as the primary reason for the losses.

The group’s property division faced significant challenges, including a fair value loss of S$88.2m from China properties held under associates and joint ventures. Additionally, Metro’s 20.5%-owned associate, Top Spring, contributed a share of loss amounting to S$65m, primarily due to fair value and impairment losses. An impairment loss of S$30.2m was also recorded on amounts due from associates, mainly from co-investments with BentallGreenOak.

Despite these setbacks, Metro Holdings managed to partially offset losses with contributions of S$16.2m from properties in Singapore, the UK, and Australia. However, the Retail Division reported a loss after tax of S$11.4m, exacerbated by lower revenue and gross margins amidst challenges in Singapore’s retail sector.

Metro’s Chairman, Tan Soo Khoon, commented on the challenging environment, stating, “Against a backdrop of ongoing geopolitical tensions, economic uncertainty and elevated policy unpredictability, Metro continues to navigate a challenging environment across its key markets.”

The company maintains a healthy balance sheet with net assets of S$0.9b and proposes a final dividend of 2.0 Singapore cents per ordinary share. Looking forward, Metro aims to strengthen its portfolio across geographies and asset classes, positioning itself to seize future opportunities.

British International Investment (BII), the UK’s development finance institution, has pledged $30m to the Industrial Transformation Programme (ITP) under the Monetary Authority of Singapore’s Financing Asia’s Transition Partnership (FAST-P). This commitment, structured as a junior tranche, is intended to attract commercial capital by assuming higher risk, positioning BII as the largest catalytic investor after MAS.

The ITP, managed by BlackRock through its infrastructure credit platform, seeks to address South-East Asia’s escalating energy-related CO2 emissions, which could rise by a third by 2050 without intervention. The region requires an estimated $210b annually to bridge its climate investment gap.

BII’s investment aims to accelerate the decarbonisation of high-emitting sectors across South-East Asia by deploying risk-bearing anchor capital. This marks BII’s second commitment under FAST-P, following its investment in the Pentagreen Green Investment Partnership. The initiative aligns with BII’s strategy to allocate at least 40% of new investments to climate finance from 2026 to 2031.

This strategic move underscores BII’s commitment to fostering sustainable development and addressing climate challenges in the region. As South-East Asia grapples with significant environmental concerns, BII’s investment could play a crucial role in facilitating the transition to a low-carbon economy.

CapitaLand Group has officially opened Geneo, a S$1.4b life sciences and innovation hub at Singapore Science Park, marking a pivotal moment in the park’s rejuvenation. The opening ceremony, officiated by Minister Tan See Leng, highlighted the move of anchor tenant A*STAR into the hub, reinforcing Singapore’s position in the biomedical sciences sector.

Geneo, jointly owned by CapitaLand Development and CapitaLand Ascendas REIT, spans three properties with a total gross floor area of approximately 180,600 square metres. It offers purpose-built infrastructure for biomedical research and development, flexible laboratories, and Grade A business park workspaces. Jonathan Yap, CEO of CapitaLand Development, described Geneo as a “defining milestone” in the park’s rejuvenation, emphasising its role in supporting the full innovation cycle.

The hub has attracted world-class tenants, including Barry Callebaut, Chugai Pharmabody Research, Henkel, and NSG Bio, spanning industries from biotech to pharmaceutical R&D. William Tay, CEO of the manager of CapitaLand Ascendas REIT, noted the strong tenancy demand from leading companies, reinforcing the hub’s position in Singapore’s life sciences real estate market.

Geneo’s infrastructure includes wet labs, coworking laboratory spaces, and smart building systems, fostering cross-disciplinary collaborations. The hub also features Bridge+ Geneo, Southeast Asia’s largest coworking laboratory, supporting life science enterprises from discovery to industry deployment.

Sustainability is at the core of Geneo, with all properties achieving the Building and Construction Authority’s Green Mark Platinum rating. The hub also supports community initiatives, such as the SSP-ACE! Programme, offering students from underserved backgrounds opportunities to explore STEM pathways.

Global marketing agency Team Lewis has unveiled its new office in Singapore, located at Orchard Gateway @ Emerald, which includes a cutting-edge creative studio. This move aligns with the agency’s global expansion into new service verticals such as Defence, Energy, and Healthcare.

The Singapore studio, featuring a 5.4m x 2.8m LED wall, is the second of its kind in the region, following the Kuala Lumpur office. It houses the Pacific Creative Hub, a team specialising in creative design, UI/UX, website development, and video production, supporting the agency’s international clientele.

The new office, spanning approximately 6,000 square feet, is designed to accommodate further team growth. It boasts floor-to-ceiling windows, a fully equipped studio, and multiple meeting rooms. Team Lewis has been serving clients in Singapore for over a decade, offering services in research and analytics, public relations, digital marketing, and more.

Pamela Tor Das, VP of Team Lewis Singapore and Emerging Markets, stated, “This new Singapore office is a major step forward for our team and clients. With a purpose-built creative studio, we can collaborate faster, produce at a higher level, and bring integrated ideas to life under one roof.”

Keso Kendall, SVP of Team Lewis APAC, added, “As we open the doors to our new Singapore office, we’re making a clear statement about the future we’re building in APAC. This space is designed for the way modern communications works: fast, visual, content-led and always-on.”

Team Lewis Singapore continues to specialise in creating integrated campaigns for clients such as Audi Singapore, CapitaLand Malls, and Pizza Hut.

Webull Securities (Singapore) Pte Ltd, a subsidiary of Webull Corporation, has introduced unlimited free trading on US stocks, exchange-traded funds (ETFs), and American Depositary Receipts (ADRs) for investors based in Singapore. This initiative, effective immediately, removes both platform fees and trading commissions, including after-hours and overnight trades, making Webull one of the most cost-effective platforms for accessing the US market among Monetary Authority of Singapore (MAS)-licensed brokers.

The move sets Webull apart from other Singapore platforms that claim zero commissions but still impose platform fees. Jonathan Man, CEO of Webull Singapore, stated, “This reflects our belief that investing should be accessible to everyone, and aligns Singapore with Webull’s global approach across the US and other markets.”

In addition to the fee removal, Webull Singapore will introduce OpenAPI access for US stocks and ETFs. This feature allows for flexible and secure integration, catering to users who prefer automated and programmatic trading strategies. Man added, “By removing transaction fees on US stocks, ETFs, and ADRs whilst continuing to offer a fully advanced trading platform with an intuitive interface, we believe Webull now delivers one of the strongest combinations of pricing and platform capability in the market.”

Webull Singapore’s platform offers access to a wide range of financial instruments, including US stocks, ETFs, ADRs, options, Singapore-listed equities, China A-Shares, Hong Kong equities, Singapore REITs, mutual funds, and US Treasuries. The platform is available on both mobile and desktop, providing investors with comprehensive tools and resources for trading.

PFPFA Pte Ltd has inaugurated the PFP Signature Centre at Ngee Ann City, a pioneering dedicated wealth centre in Singapore’s Orchard Road retail district. This new facility aims to provide individuals and families with a private space to engage in comprehensive discussions on wealth planning, protection, and legacy considerations.

The PFP Signature Centre is designed to cater to clients with complex financial planning needs, offering a private environment for exploring long-term strategies around wealth preservation, succession, and life planning. PFPFA operates on a multi-provider advisory platform, allowing advisers to collaborate with various insurers and financial institutions to offer tailored solutions based on client needs.

Recognised for its growth and service standards, PFPFA was recently named among the Financial Times High-Growth Companies Asia-Pacific 2026 and ranked in the Top 5 for Best Financial Services in Singapore at the Expat Living Readers’ Choice Awards 2026.

As a subsidiary of SingWealth Holdings, PFPFA integrates wealth advisory and estate planning services, providing clients with access to estate planning expertise through PFP Legacy. This approach extends discussions beyond financial protection to include wealth preservation and succession planning.

The launch of the PFP Signature Centre marks a significant milestone in PFPFA’s growth journey, now in its fifth year of operations. The firm has expanded its advisory capabilities and established a presence in Hong Kong and Malaysia through SingWealth Holdings. CEO Jeffrey Chow stated, “The PFP Signature Centre was created to provide a dedicated environment where these discussions can take place in a more considered and meaningful way.”

HSBC Life Singapore has launched the HSBC Life Prestige Circle, an enhanced proposition tailored for high-net-worth (HNW) and ultra-high-net-worth clients. This initiative aims to provide clients with access to exclusive services, including healthy longevity programmes, bespoke travel experiences, and specialised business insurance solutions. The offering is designed to meet the complex, cross-border, and multi-generational needs of these clients.

Research by HSBC Life indicates that 50% of HNW individuals in Singapore value added benefits such as health or lifestyle services, with 43% specifically seeking healthcare features. The Prestige Circle addresses these preferences by offering services that protect, optimise, and enrich clients’ time. This includes access to specialist advisory firms for wealth, estate planning, and global mobility, as well as concierge services through a partnership with Blue Sky Escapes for travel design and booking.

Additionally, clients can benefit from preventive health and wellness services through collaborations with Chi Longevity and Raffles Medical Group. These services are available at the HSBC Life Longevity Suite, located within Chi Longevity’s luxury clinics at Camden and the Four Seasons Hotel Singapore.

Harpreet Bindra, CEO of HSBC Life Singapore, stated, “High-net-worth clients today are increasingly looking beyond financial returns to how their wealth can support the way they live.” The Prestige Circle leverages HSBC Life’s network to offer privileges across advisory, wellness, and lifestyle sectors.

This launch builds on HSBC Life’s commitment to supporting complex wealth planning needs, having been recognised as the World’s Best Insurance Provider for Wealth Management by the Euromoney Private Banking Awards 2026.

Singapore has emerged as a significant player in New Zealand’s investment landscape, accounting for 23% of all cross-border investments, according to Cushman & Wakefield. This positions Singapore alongside Australia and Canada as one of New Zealand’s top three offshore capital sources. The influx of Singaporean capital is particularly evident in the Living sector, where institutional investors are driving growth in rental housing and purpose-built student accommodation.

The momentum of foreign investment in New Zealand remains strong, with foreign investors contributing to 60% of total transaction volumes last year. In the first quarter of 2026, investment volumes increased by 51% compared to the previous year, highlighting the growing confidence and liquidity in the market.

Singapore’s institutional investors are not only providing capital but also shaping the market’s future. GIC, in collaboration with Brookfield, has become the largest investor in New Zealand’s commercial real estate over the past five years. Additionally, Keppel’s significant stake in the Carlaw Park student accommodation project in Auckland underscores Singapore’s strategic involvement in New Zealand’s Living sector.

Conal Newland, International Director and Head of Living, APAC at Cushman & Wakefield, noted that New Zealand offers “favourable investor treatment, supportive tax settings, a currency advantage and comparatively lower debt costs” for Singapore-based capital. As the Living sector in New Zealand continues to institutionalise, Singapore investors are well-positioned to capitalise on emerging opportunities, driven by factors such as population growth and urbanisation.

With supportive policy settings and increasing global competition, Singapore’s role as a key contributor to New Zealand’s market development is expected to continue, reinforcing its position as a leading capital source.