Industry News

Sheng Siong Group, one of Singapore’s largest supermarket chains, reported an 8.5% increase in net profit for the financial year 2025, reaching S$149.2m. This growth was driven by a 9.9% rise in revenue, which totalled S$1.57b, attributed to the opening of 12 new stores and enhanced performance at existing locations.

The group’s gross profit also saw a significant increase of 12.9%, amounting to S$491.6m, with a gross profit margin improvement of 0.8 percentage points to 31.3%. This was largely due to a better sales mix amidst rising operational costs. However, other income decreased by 16.5% to S$16m, primarily due to reduced grants and exchange gains.

Administrative expenses rose by 5.1% to S$61.5m, whilst selling and distribution costs increased by 14.3% to S$270.4m, reflecting higher staff costs and professional fees. Despite these expenses, the company generated S$236.6 million in cash flow from operations, marking an 8.1% year-on-year increase.

Looking ahead, Sheng Siong plans to open a new store at Rivervale Crescent in Q3 2026 and is awaiting tender results for additional locations. The company remains focused on expanding its store network and enhancing its product offerings. CEO Lim Hock Chee stated, “Our commitment to provide quality products at affordable prices has continued to resonate with consumers.” The proposed final dividend for FY2025 is 3.80 cents per share, bringing the total dividend to 7.00 cents per share.

Dyna.Ai, a Singapore-based AI solutions company, has announced the completion of an undisclosed eight-figure multimillion-dollar Series A funding round, led by Lion X Ventures, a venture capital fund advised by OCBC Bank’s Mezzanine Capital Unit. The funding round also saw participation from ADATA, a Taiwan-listed technology company, a Korean financial institution, and several finance veterans. This investment aims to expedite the deployment of Dyna.Ai’s Agentic AI solutions, transforming AI pilots into fully operational systems that deliver measurable business outcomes.

The company’s Results-as-a-Service approach, which focuses on measurable revenue outcomes, has already been validated in regulated financial services and enterprise environments. Dyna.Ai’s solutions are designed to streamline operations, enhance customer experience, and optimise employee workflows across global and regional banks and financial institutions in Asia, the Americas, and the Middle East.

The investment underscores confidence in Dyna.Ai’s execution-led strategy, supporting its continued delivery and long-term platform development. This comes as Southeast Asia’s AI market is projected to exceed $16 billion (US$16 billion) by 2033, highlighting the growing opportunity for AI capabilities in the region. Singapore remains a leader in AI development, with plans to invest over S$1b in public AI research over the next five years.

Tomas Skoumal, Chairman and Co-Founder of Dyna.Ai, emphasised the company’s focus on solving operational challenges with innovation-driven solutions. Irene Guo, CEO of Lion X Ventures, noted Dyna.Ai’s strong domain expertise and operational discipline as key differentiators in deploying AI within complex enterprise environments. Cynthia Siantar, Head of Investor Relations, highlighted the shift in enterprise AI focus from experimentation to real-world application, with Dyna.Ai leading the charge in delivering tangible outcomes.

Manulife Investments has announced the launch of the Manulife Singapore Opportunities Income Strategy, a new equity income and growth strategy focused on Singapore-listed equities. Developed under the Monetary Authority of Singapore’s (MAS) Equity Market Development Programme (EQDP), the strategy aims to capture opportunities in under-researched small and mid-cap companies.

The strategy aligns with EQDP’s efforts to deepen research coverage, improve liquidity, and broaden investor participation in Singapore’s equity market. HuiJian Koh, CEO of Manulife Investments Singapore, stated, “Being selected for MAS’s EQDP is a meaningful endorsement of our deep understanding of Singapore’s equity market and our on-the-ground investment capabilities.”

The strategy employs a disciplined, bottom-up approach to stock selection, focusing on companies with strong growth prospects, cash flow generation, and management quality. It seeks to balance income stability with capital appreciation, primarily through dividends and profit-taking as stocks approach fair value.

Hock Fai Chan, Head of Equities at Manulife Investment Management Singapore, highlighted the unique opportunities in Singapore’s small and mid-cap segment, noting the limited research coverage and pricing inefficiencies. The strategy will typically hold 30 to 50 high-conviction positions, emphasising risk discipline and diversification.

Singapore’s equity market has shown strong performance, with equities returning nearly 36.1% in the past year. The market’s high dividend yields and structural reforms, including MAS’s EQDP, are attracting increased investor attention. As companies focus on restructuring and efficient balance sheet deployment, opportunities in digital infrastructure and energy transition are expected to support a positive outlook for Singapore equities.

SynaXG, a Singapore-based technology company, has unveiled a significant advancement in AI-native radio access networks (AI-RAN) at the Mobile World Congress 2026 in Barcelona. The company demonstrated the concurrent operation of 5G FR1 and FR2 with AI workloads on the NVIDIA AI Aerial platform, showcasing a fully software-defined AI-RAN architecture that delivers carrier-grade performance without the need for separate hardware.

The demonstration highlighted several key achievements. SynaXG achieved over 36Gbps throughput across 20 x 100 MHz 5G cells with sub-10 millisecond latency on a single NVIDIA GH200, matching top commercial 5G deployments. This marks the first-ever carrier-grade FR2 virtualised RAN running alongside FR1 and AI workloads on a shared GPU, crucial for dense urban and enterprise 5G applications.

SynaXG’s system operated continuously under sustained load, proving its stability and readiness for commercial deployment. The real-time orchestration software dynamically balanced GPU resources between RAN and AI workloads, ensuring uninterrupted service and optimising infrastructure use. “With the recent industry-leading breakthroughs, SynaXG has demonstrated that AI-RAN can deliver carrier-grade FR1 and FR2 performance with continuous 24×7 operation on shared NVIDIA AI infrastructure,” said Xin Huang, CEO of SynaXG.

Looking forward, SynaXG plans to extend its AI-RAN platform to additional NVIDIA platforms, including NVIDIA DGX Spark, to further enhance its software-defined architecture. This innovation promises to accelerate deployment and improve network optimisation, energy efficiency, and operational simplicity in AI-native networks.

Nordic Group Limited has reported a 26% year-on-year increase in operating profit for the second half of 2025, reaching S$13m. This growth is attributed to a stronger contribution from higher-margin project services, despite a 17% decline in overall revenue to S$68.4m. The company, listed on the SGX Mainboard, saw its gross profit rise by 12% to S$21.3m, with margins expanding to 31% due to cost reversals and internal synergies.

The financial results highlight a significant shift in revenue composition, with maintenance services now contributing 67% of the total, up 18% year-on-year, whilst project services fell by 48% due to fewer projects post-completion. Nordic has proposed a final dividend of 1.0745 Singapore cents per share, bringing the total dividend payout for FY2025 to 1.9021 cents, reflecting a 9% increase from the previous year.

Nordic’s net cash position improved to S$4.1m by the end of 2025, supported by strong operating cash flows and disciplined debt repayment. The company’s orderbook stands at S$201.9m, with a majority in maintenance services. Looking ahead, Nordic aims to leverage its engineering capabilities across marine, semiconductor, and defence sectors, despite challenges from geopolitical tensions and currency volatility. The group remains optimistic about capturing growth opportunities in these industries.

TeleChoice International Limited, a leading provider of info-communications products and services, has announced a significant 58% rise in profit after tax for FY2025, reaching S$6.6m. This growth was driven by a 36.2% increase in revenue, totalling S$518m, as reported on 27 February 2026. The company’s three divisions all registered operating profit growth, reflecting the success of its strategic ‘Renew, Rebuild, and Transform’ plan.

The Personal Communications Solutions Services (PCS) division led the charge with a 51% revenue increase to S$364.5m, bolstered by strong performances in Singapore and Malaysia. Meanwhile, the Network Engineering Services (NES) division saw a 28.5% revenue rise to S$68.4m, primarily due to robust results in Indonesia. The Info-Communications Technology Services (ICT) division, despite a slight revenue dip, turned a profit of S$1.7m, reversing a previous loss.

TeleChoice’s President and CEO, Pauline Wong, expressed satisfaction with the results, stating: “We are encouraged by another robust set of results this year, reflecting the momentum we have built following the 2024 turnaround.”

The company also announced a final dividend of 0.45 cents per share, more than triple the previous year’s payout, underscoring its commitment to shareholder returns. Looking ahead, TeleChoice plans to explore growth opportunities in digital infrastructure and technology, including data centres, as it continues to focus on long-term value creation and sustainability.

Bridge Data Centres (BDC) and Concord New Energy (CNE) have signed a Memorandum of Understanding (MOU) to develop Singapore’s first barge-based hydrogen power generation model. This initiative is designed to support next-generation, AI-ready data centre campuses, marking a pivotal step towards low-carbon energy solutions in the data centre sector. The collaboration aligns with Singapore’s Green Data Centre Roadmap and its ambitions to become a regional AI and data centre hub.

The innovative barge-based model offers several advantages over traditional land-based power generation, particularly in Singapore’s land-scarce environment. It allows for offshore or nearshore deployment, optimising land use whilst providing flexibility in hydrogen transport and storage. This approach leverages Singapore’s maritime ecosystem, enhancing safety by segregating hydrogen handling infrastructure from core data centre operations.

BDC and CNE will work alongside Nanyang Technological University and local partners to develop hydrogen system engineering, talent, and supply-chain investments in Singapore. This partnership aims to accelerate the research, engineering, and deployment of scalable clean energy solutions, supporting the nation’s clean energy transition.

Eric Fan, CEO of Bridge Data Centres, stated, “The accelerating demand for AI-ready data centres requires new energy architectures that are resilient, scalable, and sustainable.” Joe Zhou, Group Vice President and CEO of Global Business at Concord New Energy, added, “Singapore’s hydrogen ambitions and its position as a global maritime and energy hub create a strong foundation for piloting advanced hydrogen power solutions.”

The collaboration is expected to bolster Singapore’s clean energy and digital infrastructure ambitions, fostering local talent development and catalysing investment in hydrogen-related infrastructure. As Singapore scales its AI-driven workloads, this initiative will enhance energy reliability, flexibility, and sustainability, establishing a scalable offshore-integrated clean power framework for Southeast Asia’s expanding AI-driven data centre markets.

JTC has revealed a refreshed masterplan for LaunchPad @ One-North, aiming to establish it as Asia’s premier startup destination. Central to this plan is Kampong AI, Singapore’s first integrated community for AI startups, combining work and living spaces. Set for completion in 2028, Kampong AI will house up to 70 companies and over 200 residential units, fostering collaboration among AI leaders, researchers, and startups.

Singapore’s startup ecosystem ranks fourth globally, with over 4,500 tech startups and 500 venture capital firms. LaunchPad @ One-North, since its inception in 2015, has become a vibrant hub for innovation, hosting over 2,400 startups, including notable tech unicorns like Carousell and PatSnap.

The masterplan was shaped through industry consultations, highlighting AI as a transformative technology. Jacqueline Poh, JTC’s Chief Executive, stated, “Kampong AI will be anchored within LaunchPad @ One-North, one of Southeast Asia’s densest and most dynamic startup ecosystems.” Marcus Tan, Carousell’s co-founder, praised the initiative, aligning it with Carousell’s focus on AI development.

Beyond Kampong AI, JTC plans to enhance LaunchPad’s infrastructure with new event spaces, sports facilities, and improved connectivity. Additionally, JTC will introduce facilitative policies to support startups at all stages and launch new community programmes to encourage collaboration and mentorship.

To further expand its offerings, JTC will establish LaunchPad @ Punggol Digital District from late 2026, providing startups with opportunities to test innovations in smart city solutions and robotics. This initiative underscores JTC’s commitment to nurturing Singapore’s startup ecosystem and positioning it at the forefront of global innovation.

The Energy Market Authority of Singapore (EMA) and Korea Hydro & Nuclear Power Co Ltd (KHNP) have signed a Memorandum of Understanding (MOU) to collaborate on civil nuclear energy, focusing on Small Modular Reactors (SMRs). The agreement, signed on 1 March 2026 during the Korea-Singapore Summit in Singapore, marks the first such cooperation between a Korean nuclear power company and a Singapore government agency.

The MOU aims to establish a framework for collaboration in several key areas: conducting joint studies on SMRs for potential applications in Singapore, developing human resources and training, and sharing technical information and best practices in advanced nuclear technologies. This initiative is part of EMA’s broader strategy to explore various pathways for decarbonising Singapore’s power system, ensuring a reliable and sustainable energy supply.

Puah Kok Keong, EMA’s Chief Executive, emphasised the importance of exploring all energy pathways for a small country with limited domestic resources. “Advanced nuclear energy technologies hold promise as a potential clean energy source,” he said. “Our partnership with KHNP will deepen our capabilities and technical understanding of SMRs.”

Daewook Chun, Acting President and CEO of KHNP, highlighted the company’s commitment to the global energy transition, stating, “KHNP will actively engage as a responsible partner in EMA’s process of assessing the safety and viability of SMR technology.”

This collaboration could significantly impact Singapore’s energy landscape, potentially leading to the adoption of nuclear energy as a clean and sustainable power source.

Tuan Sing Holdings Limited has announced a net profit of $32.1m for the financial year ending 31 December 2025, driven by significant asset enhancement gains in Singapore and Australia. The company reported $51.2m in fair value gains, primarily from property revaluations in these regions.

The gains were attributed to the completion of enhancement works at Dunearn Village in Singapore and the positive revaluation of the Grand Hyatt Melbourne property, which is set for a mixed-use redevelopment. CEO William Liem stated, “This value uplift reflects the intrinsic quality of our assets and the disciplined execution of our asset enhancement and repositioning strategies.”

Despite the profit increase, Tuan Sing’s overall revenue fell by 24% to $146m, largely due to decreased contributions from its Real Estate Development and Investment segments. However, the Hospitality segment performed well, generating $89.6m in revenue, bolstered by improved hotel operations in Melbourne.

The Board has proposed an unchanged dividend of 0.7 cents per share, payable on 26 June 2026. Looking forward, Tuan Sing remains committed to enhancing its asset portfolio and exploring growth opportunities in the region. Liem expressed cautious optimism about the real estate market, emphasising the importance of well-located, quality assets.