Industry News

CBRE has announced the sale of a premium freehold office unit at Southpoint, located at 200 Cantonment Road in Singapore’s Central Business District (CBD). The sale will be conducted through an Expression of Interest (EOI) exercise, closing on 21 April at 3pm. The office, spanning 6,415 square feet, is situated on a high floor with sea views and features a prominent lobby frontage and a column-free layout.

The property is currently fully tenanted, providing immediate and stable rental income for potential investors. Its versatile design allows for future subdivision to accommodate multiple tenancies. The office is strategically positioned at the intersection of the CBD and the Greater Southern Waterfront, an area undergoing significant transformation into a vibrant lifestyle and commercial hub.

Clemence Lee, Executive Director of Capital Markets at CBRE, highlighted the robust interest in freehold strata offices due to their potential for long-term wealth preservation and capital appreciation. “These opportunities are increasingly rare in the CBD,” Lee stated, noting the limited existing stock and restrictions on new strata commercial subdivisions.

The indicative guide price for the property is S$20.5m, or approximately S$3,195 per square foot. As a commercial property, it is open to foreign buyers without the imposition of Additional Buyer’s Stamp Duty or Seller’s Stamp Duty. With its prime location and strong rental demand, the Southpoint office is expected to attract significant interest from investors.

Singaporean organisations are rapidly embracing artificial intelligence (AI), with 66% expecting to deploy more than five AI-enabled applications within the next three years, according to Nutanix’s latest Enterprise Cloud Index. However, 77% of these organisations believe their current infrastructure is not fully prepared to support AI workloads on-premises, prompting a significant push towards infrastructure modernisation.

The report highlights that AI is accelerating the adoption of containers, with 82% of Singaporean firms using them to enhance speed, reliability, and scalability. Containers have become essential in modern application strategies, with 88% of organisations anticipating increased usage over the next three years.

Operational challenges are also emerging, as 93% of organisations cite silos between business units and IT as obstacles to effective technology deployment. Additionally, shadow IT poses risks, with 78% encountering AI applications implemented by non-IT employees, and 94% acknowledging the potential exposure of sensitive data.

Data sovereignty remains a critical concern, with 86% prioritising it in infrastructure decisions. This is driven by compliance obligations and security concerns, necessitating that data remains within the country of origin.

Jay Tuseth, Vice President and General Manager of Asia-Pacific and Japan at Nutanix, stated, “As Singaporean organisations race to scale AI, they are hitting a wall of operational complexity, from data sovereignty requirements to the risks of shadow IT.”

The findings underscore the need for a unified operating platform to bridge the gap between containers and virtual machines, ensuring secure and efficient AI deployment across hybrid environments.

Stacked Store, a leading home goods retailer in Singapore, has announced its partnership with IMBA as the exclusive retail partner for the IMBA Store. This new gift shop, located within IMBA’s immersive exhibition space at Gardens By The Bay, will open to the public on 3 April 2026. The store aims to enhance the visitor experience by offering a range of thoughtfully designed merchandise and collectibles inspired by the exhibitions.

The IMBA Store will feature exclusive in-house merchandise collections developed by Stacked Store, drawing inspiration from artists showcased at IMBA. The initial collections will include interpretations from the works of Fernando Botero and David Hockney. These limited-edition items are designed to capture the essence of each artist’s work, providing visitors with a tangible connection to the exhibitions.

The store’s interior will be furnished with the USM Haller System, supported by Club Modular and Vanguard, creating a sleek and modular retail environment. This design aligns with IMBA’s immersive setting and Stacked Store’s commitment to a design-forward approach.

This collaboration underscores Stacked Store’s dedication to merging art, design, and everyday living, offering meaningful retail experiences that connect audiences with good design.

YY Group Holding Limited, a leader in on-demand workforce solutions and integrated facilities management, has announced its preliminary financial results for the fiscal year ending 31 December 2025. The company expects revenue to reach between US$57m and US$58m, marking a substantial increase of approximately 38.7% to 41.1% compared to the previous year. Gross profit is projected to be between US$7.5m and US$8m, reflecting a growth of 42.6% to 52.1% year-on-year.

The company attributes this impressive growth to its expanded operations in both on-demand staffing and integrated facilities management (IFM) sectors. CEO Mike Fu highlighted the company’s strategic acquisitions and investments in regional capacity as key drivers of this success. “Our preliminary fiscal year 2025 results demonstrate the significant progress we have made in scaling YY Group into a diversified, multi-market workforce outsourcing and facilities management platform,” Fu stated.

Chief Financial Officer Jason Phua echoed this sentiment, noting the disciplined execution and strategic investments made during the year. “Estimated full-year revenue growth of approximately 40% underscores our disciplined execution during a year of significant investment and expansion,” Phua said.

The company plans to release its full financial results for FY2025 by 31 March 2026. These preliminary figures are based on unaudited management accounts and are subject to final review. YY Group remains optimistic about maintaining its growth momentum into 2026.

EHL Hospitality Business School and UEFA Academy have announced a partnership to introduce a Sport Event Management Executive Course in Singapore. This initiative supports Singapore’s S$165m Major Sports Events Fund and Vision 2030, aiming to enhance the nation’s workforce as it prepares to host major events like the FIBA 3×3 World Cup 2027 and the 2029 SEA Games.

The four-day intensive course, set to debut from 9 to 12 July 2026 at EHL Campus Singapore, will offer participants exclusive insights into UEFA Champions League frameworks. It will be co-taught by senior UEFA practitioners and EHL faculty, targeting 25 mid-to-senior professionals from sports, hospitality, and travel sectors. The course is designed to equip participants with skills in planning, management, and delivery of major sports events, focusing on strategic intent, stakeholder management, and fan experience.

Stéphane Haddad, Associate Dean Executive Education at EHL Singapore, emphasised the importance of the programme in safeguarding taxpayer investment and creating job resiliency in the live event economy. “This joint programme with UEFA Academy brings hospitality and sport together in a highly applied format,” Haddad stated.

Thomas Junod, Head of UEFA Academy, highlighted the collaboration’s role in preparing professionals to shape the evolution of sport. “We are proud to support those who set the direction for sport events on the global stage,” he said.

Applications for the 2026 intake are now open, welcoming candidates from the Asia-Pacific and Middle East regions. This initiative positions Singapore as a global hub for sports event management education, supporting the region’s growing demand for skilled professionals.

Porsche Asia Pacific and the Institute of Technical Education (ITE) have signed a Memorandum of Understanding (MoU) to collaborate on sustainable mobility and next-generation automotive technologies. This five-year partnership aims to equip students and educators with industry-relevant skills, aligning with Singapore’s shift towards electrified mobility.

The collaboration will focus on key areas such as high-voltage battery technology, electric vehicle diagnostics, and digitalisation. Students will benefit from internships at Porsche Singapore and potential overseas attachments at Porsche’s regional facilities, including the assembly facility in Kedah, Malaysia. These opportunities provide a rare glimpse into top-level automotive production and technical innovations.

ITE educators will also gain from this partnership. Recently, two lecturers from ITE College West participated in specialised high-voltage battery training at the Porsche Service Centre in Singapore, gaining insights into Porsche’s unique EV battery repair concept.

Porsche will further support ITE by donating a Macan Electric for training purposes and sponsoring Book Prizes and Achiever Awards for top-performing students. Hannes Ruoff, CEO of Porsche Asia Pacific, emphasised the importance of equipping young talents with strong technical foundations and real-world exposure. Peter Lam, CEO of ITE, highlighted the partnership’s role in keeping students and educators at the forefront of emerging technologies, empowering them to shape the future of Singapore’s automotive industry.

Global healthcare brand Raydel has introduced its flagship product, Raydel Policosanol 10, to the Singaporean market. Known as the leading policosanol brand in South Korea and Japan, the product aims to support cardiovascular health by maintaining healthy cholesterol and blood pressure levels. This launch marks a significant step for Raydel as it expands its presence in the region.

Raydel Policosanol 10 is formulated to enhance the quality and function of High-Density Lipoprotein (HDL), often referred to as “good cholesterol.” The product is designed for individuals seeking to manage their cardiovascular wellness amidst busy lifestyles. With just one tablet daily, users can support healthy cholesterol levels, whilst two tablets daily also aid in maintaining healthy blood pressure.

The product’s unique selling point lies in its Cuban origin, being 100% naturally derived from Cuban sugarcane wax. This authenticity sets it apart from generic alternatives, offering unmatched quality rooted in Cuban scientific heritage. Raydel Policosanol 10 is backed by over 30 years of scientific research and is manufactured under strict Australian Good Manufacturing Practice (GMP) standards, ensuring a premium supplement for consumers.

To celebrate the launch, Raydel is offering the first 300 members who sign up on their official online store S$20 in store credits. Founded in 1986 in Sydney, Australia, Raydel continues to provide evidence-based wellness solutions across global markets, including Singapore, South Korea, Australia, and Japan.

AJJ Medtech Holdings Limited, a leader in healthcare technology, has announced a significant four-year supply contract worth approximately S$3m with a network of Singapore healthcare institutions. The contract, commencing on 1 June 2026, involves the provision of biodegradable medical consumables, aligning with the company’s long-term sustainability strategy.

The agreement, which includes an initial two-year term with an option to extend for another two years, strengthens AJJ Medtech’s position within Singapore’s institutional healthcare ecosystem. This contract is part of a series of institutional tenders recently secured by AJJ Healthcare, a wholly owned subsidiary of AJJ Medtech. With these agreements, the group’s total contracted institutional revenue pipeline now exceeds S$8m.

The focus on biodegradable consumables supports healthcare institutions in adopting environmentally responsible procurement practices. According to William Ong, CEO of AJJ Healthcare, the partnership marks “tangible progress in our ESG-led growth,” helping healthcare partners transition from conventional plastics to biodegradable alternatives.

The contract is expected to avoid more than 600 tonnes of fossil-based CO₂ emissions annually, equivalent to removing over 100 passenger vehicles from the road each year. This aligns with AJJ Medtech’s broader Environmental, Social, and Governance (ESG) commitments.

Whilst the contract is not anticipated to materially impact the company’s Net Tangible Assets or Earnings Per Share for the current financial year, it is expected to contribute positively to the group’s financial performance over the contract’s duration. AJJ Medtech continues to expand its portfolio, including higher-value healthcare solutions such as robotics and intelligent applications, further solidifying its role as a sustainable healthcare solutions provider.

OKP Holdings Limited has been awarded a significant contract valued at S$87.3m by the Land Transport Authority (LTA) for the development of commuter infrastructure around the Jurong Region Line in Singapore. The 60-month contract, which began in February 2026, involves the design and construction of covered linkways, cycling paths, footpaths, and roadworks near the upcoming stations.

The contract, executed by OKP’s subsidiary Or Kim Peow Contractors, aims to provide sheltered connectivity for pedestrians and commuters. It also includes the reconstruction and modification of existing infrastructure such as retaining walls, drains, and street furniture. This project boosts OKP’s net construction order book to S$627.2m, with projects extending to 2031.

Or Toh Wat, Group Managing Director, expressed gratitude for the LTA’s confidence in OKP’s engineering capabilities. He stated, “This project places us at the heart of Singapore’s next phase of rail expansion. We are excited to contribute to this wider public transport ecosystem to strengthen connectivity and improve accessibility for residents, businesses and communities in the west of Singapore.”

OKP has a history of successful collaborations with the LTA, having previously secured contracts for cycling path networks across Singapore. The company, listed on the Singapore Exchange since 2002, specialises in infrastructure projects and has diversified into property development and investment. The new contract underscores OKP’s role in enhancing Singapore’s transport infrastructure and aligns with the nation’s long-term sustainability goals.

Frasers Property Limited has announced the appointment of Tony Lombardo as Group Chief Operating Officer, effective 1 October 2026. Lombardo will report to the Group Chief Executive Officer and will be based in Singapore. His role will involve leading Group Investments and Frasers Property Capital, focusing on cross-portfolio optimisation and disciplined capital deployment.

Lombardo’s appointment is seen as a strategic move to enhance coordination across Frasers Property’s major platforms and key markets, including Industrial and Logistics, as well as the Group’s operations in Australia and the UK. This is aimed at supporting scalable and sustainable growth. Panote Sirivadhanabhakdi, Group CEO, expressed confidence in Lombardo’s ability to strengthen the leadership team, stating, “Tony’s leadership and expertise across strategy, finance, investments, and capital management will accelerate the execution of our strategic priorities.”

With nearly 30 years of international experience in real estate development and investment management, Lombardo brings a wealth of knowledge to Frasers Property. He has previously held senior roles at Lendlease, GE Capital, and GE Corporate, and began his career at KPMG. Lombardo expressed his enthusiasm for joining Frasers Property, noting the alignment with the Group’s values and its commitment to long-term partnerships.

Frasers Property, a multinational investor-developer-operator of real estate products, is listed on the Singapore Exchange and has a diverse portfolio across Southeast Asia, Australia, Europe, and China. The Group is committed to sustainability and aims to be a net-zero carbon corporation by 2050.