Industry News

The United Nations Global Compact Network Singapore Summit on 8 October 2025 saw the announcement of significant updates to the Singapore Emission Factors Registry (SEFR) and NetZeroHub.SG by Second Minister for Finance Indranee Rajah. These updates include the introduction of localised emission factors for five key sectors—professional services, cleaning, security, information and communications technology (ICT), and product carbon footprint—aimed at improving carbon accounting for businesses in Singapore.

From financial year 2026, Scope 3 emissions reporting will become mandatory for Straits Times Index companies. SEFR’s new emission factors will support this transition by providing sector-specific data, reducing reliance on generic assumptions, and enhancing the credibility of carbon reporting. This initiative is backed by key government agencies such as the Agency for Science, Technology and Research and the Infocomm Media Development Authority, with contributions from local businesses and trade associations.

In addition to SEFR’s enhancements, NetZeroHub.SG has launched new community-centric features, including a National Events Calendar, Community Forum, and an Expanded Directory of Solution Providers. These tools are designed to facilitate collaboration among businesses and individuals in their decarbonisation efforts.

Lee Chuan Seng, Chairman of the SEFR Governance Committee, highlighted the registry’s impact, stating, “SEFR has benefitted more than 700 Singapore businesses in its first year by helping them report all aspects of Scope 1 and 2 emissions, as well as some aspects of Scope 3 emissions, more conveniently and consistently.”

These developments underscore Singapore’s commitment to advancing transparent and reliable carbon accounting, positioning SEFR and NetZeroHub.SG as essential resources for businesses aiming to achieve sustainability goals.

Frasers Hospitality has reinforced its commitment to social inclusion and community care through a series of initiatives in Singapore and Kuala Lumpur. In collaboration with Food Bank Singapore, the company distributed 200 care packs to elderly residents and low-income households in the Jalan Kukoh estate. This effort was complemented by a mural painting project involving youth from Club Rainbow and students from Lil’ Palette Workroom, transforming public spaces with art themed around nostalgic toys.

The mural initiative, which engaged over 50 volunteers, aimed to evoke shared memories and strengthen community bonds. “Our collaboration with Frasers Hospitality provided my team with the opportunity to showcase their creativity in a project with meaningful community impact,” said Lynn Teo, Founder of Lil’ Palette.

In Kuala Lumpur, Frasers Hospitality’s global leadership conference included a scavenger hunt to collect back-to-school items for the Dignity for Children Foundation. The company also donated $2,120 (RM10,000) to support the foundation’s educational efforts. This initiative involved nearly 100 staff volunteers globally, highlighting the company’s dedication to advancing education and supporting vulnerable communities.

Frasers Hospitality has implemented close to 70 community initiatives worldwide, contributing over 3,600 hours to support more than 50 organisations. CEO Eu Chin Fen stated, “Our teams have come together to support the needs of our local communities through various initiatives throughout the year.”

These efforts underscore Frasers Hospitality’s belief in the power of partnerships between businesses, non-profits, and local communities to create lasting social impact.

Schaeffler has inaugurated its Industrial Lifetime Solutions Remote Monitoring Centre (RMC) Asia Pacific, aiming to bolster industrial reliability across the region. Staffed by expert vibration analysts, the centre supports customers and service partners in India, South East Asia, and the wider Asia Pacific, utilising AI and machine learning to monitor equipment and predict faults, thereby reducing operating costs.

The RMC, which began operations on 1 August, is already monitoring over 8,000 sensors for 77 customers and 14 service partners. This initiative addresses the growing demand for predictive maintenance in industries such as oil and gas, power generation, and manufacturing. Alfred Lee, President of Bearings and Industrial Solutions, Asia Pacific, stated, “With the launch of the Remote Monitoring Centre, I am confident that we can better support our customers in the region with predictive maintenance strategies to optimise their plant operations by reducing the unplanned downtime, ensuring business continuity.”

The centre’s establishment is part of Schaeffler’s strategic expansion in industrial asset monitoring, complementing similar facilities in Germany, China, and Australia. It aims to tackle challenges like improper sensor mounting and escalating repair costs, which can hinder operational efficiency. Schaeffler’s Expert Services offer a structured “Closing the Loop” approach, providing comprehensive support from implementation to long-term optimisation.

As Schaeffler continues to expand its global footprint, the new centre underscores its commitment to customer-centred innovation and operational excellence, promising to make advanced monitoring solutions accessible to all its customers worldwide.

Investment banking activities in Asia Pacific, excluding Japan, have seen a significant rise in the first nine months of 2025, according to LSEG’s Deals Intelligence report. The region generated $18.6 billion in investment banking fees, marking a 24% increase compared to the same period last year. This growth accounts for 19% of the global investment banking fees, with the Americas and Europe contributing 55% and 21%, respectively.

The report highlights a surge in equity capital markets (ECM) underwriting fees, which reached $3.7b—a 48% increase from the previous year. Debt capital markets (DCM) fees also grew by 15% to $10.6b, whilst syndicated lending fees saw a modest 3% rise to $1.8b. Advisory fees from completed mergers and acquisitions (M&A) transactions in the region totalled $2.5b, up 55% year-on-year.

CITIC emerged as the top earner in investment banking fees within the region, securing $1.06b and capturing a 5.7% share of the total fee pool. M&A activity reached a three-year high, with deals amounting to $684.6b, driven by mega deals despite a 5.1% decline in the number of announced deals.

In ECM, the region raised $190.2b, a 42.2% increase from the previous year, with China leading the charge by contributing 49.1% of the proceeds. Meanwhile, DCM saw primary bond offerings reach $3.98t, a 20.9% increase, setting a record for the highest January-September total since 1980.

The report underscores the robust growth in Asia Pacific’s investment banking sector, with significant contributions from various financial activities and sectors. As the year progresses, these trends may continue to shape the region’s financial landscape.

The Competition and Consumer Commission of Singapore (CCS) has released a comprehensive guide to help businesses make clear and accurate product claims. This initiative is designed to prevent misleading information that could potentially deceive consumers. The guide, available from 6 October, outlines best practices for businesses to ensure transparency and honesty in their marketing strategies.

The guide is part of CCS’s ongoing efforts to promote fair trading practices and protect consumer interests. By providing detailed instructions on how to substantiate product claims, the guide aims to reduce the risk of misleading advertising, which can lead to consumer distrust and potential legal issues for businesses.

CCS emphasises the importance of businesses being able to back up their claims with evidence. “Businesses must ensure that their product claims are truthful and not misleading,” the guide states. This is crucial in maintaining consumer confidence and fostering a competitive market environment.

The release of this guide is particularly timely as consumers increasingly rely on product claims when making purchasing decisions. By adhering to the guidelines, businesses can not only avoid regulatory scrutiny but also enhance their reputation and consumer trust.

Cushman & Wakefield’s latest MarketBeat report reveals significant developments in Singapore’s industrial and capital markets for Q3 2025. Prime logistics rents have increased by 0.9% quarter-on-quarter, driven by limited supply and strong demand. Meanwhile, total investment volume surged by 31% to $9.3b, with residential, commercial, and mixed-use sectors leading the charge.

Prime logistics rents have seen a modest rise after three quarters of stability, attributed to a constrained supply pipeline and robust demand. Despite subdued leasing enquiries, the market is expected to benefit from favourable US tariff terms compared to other Asia Pacific economies. The supply of business parks is anticipated to tighten from 2026, potentially boosting occupancy rates.

In the capital markets, the residential sector experienced a 127.1% quarter-on-quarter increase, largely due to Government Land Sales. Commercial investments rose by 40%, highlighted by the sale of a 55% interest in CapitaSpring for $1b. Industrial transactions, however, saw a decline, with volume falling by 55% due to smaller deals.

The report also notes a supportive environment for investment sales, with lower interest rates and mild inflation. “A lower interest rate and mild inflation environment coupled with steady property rental growth across most property asset classes should provide a supportive backdrop for investment sales,” stated Cushman & Wakefield.

Looking ahead, the industrial supply pipeline appears manageable, with a focus on single-user factories and warehouses. The tapering supply of business parks from 2026 is expected to improve occupancy rates, enhancing their value proposition.

Dylan Pereira and Bao Jinlong had already claimed the overall and Pro-Am titles at Mandalika, but the spotlight in Singapore was on the Am and Masters class championships. Henry Kwong and Adrian D’Silva emerged victorious in these categories, with Kwong securing his second Am championship title. The final round of the 2025 Porsche Carrera Cup Asia took place at the Marina Bay Circuit, where Pereira dominated, clinching his 11th win of the year and the Street Cup.

Pereira, driving for Team Shanghai Yonda BWT, started from pole and maintained his lead throughout the race. Despite a penalty for a jump start, Dylan Yip managed to finish sixth, whilst Josh Rowledge achieved his first top-three finish of the season. In the Pro-Am category, Bao Jinlong continued his winning streak, with Matthew Belford and Francis Tjia joining him on the podium.

The Am class saw a close contest between the Kwong brothers, with Henry ultimately extending his lead to secure the title. In the Masters class, Christian Chia claimed victory, but D’Silva’s second-place finish was enough to earn him the inaugural Masters title.

The season concluded with Pereira expressing his satisfaction: “I’m delighted to finish the season in the best possible way with two victories.” The Porsche Carrera Cup Asia will now prepare for its Talent Pool Assessment Test in November, as it looks ahead to the 2026 season.

Stellar Ace, Singapore’s largest Out-of-Home (OOH) media company, has launched a next-generation 3D Rooftop Bus Shelter at Orchard Road, in collaboration with Gardens by the Bay. Located at the bus shelter before Cairnhill Road, outside The Heeren, the installation recreates the Gardens’ Flower Dome, Supertrees, and lush greenery, bringing a touch of Singapore’s iconic destination into the heart of the city.

The 3D Rooftop is designed as both an advertising platform and a placemaking feature, strategically placed along one of Singapore’s busiest retail and tourism stretches. With over 260,000 weekly impressions, it offers brands standout visibility whilst enhancing the Orchard Road streetscape. This initiative supports Singapore’s broader efforts to enrich public spaces and urban vitality.

This debut marks the first 3D Rooftop under Stellar Ace’s portfolio, signalling the revival of a beloved format reimagined for today’s audiences. “Gardens by the Bay has always been about bringing nature, design, and imagination to life,” said Tony Heng, President of Stellar Experience. The project underscores a shared commitment to creativity and innovation between Stellar Ace and Gardens by the Bay.

The 3D Rooftop is the first in a series of next-generation formats that will redefine public engagement across Singapore. Stellar Ace plans to roll out more innovative OOH formats, including digital and interactive assets, across the island. By pushing the boundaries of OOH advertising, Stellar Ace aims to make brands an integral part of Singapore’s cultural and urban fabric.

Colliers International has revealed in its Q3 2025 Singapore Office Market Report that Core CBD Premium and Grade A office rents have increased by 0.2% quarter-on-quarter, reaching $8.60 (S$11.73) per square foot. This growth is attributed to a sustained demand for quality spaces and fitted offices, despite a backdrop of global economic uncertainty.

The report highlights that average capital values have remained stable at $2,236 (S$3,050) per square foot, underscoring Singapore’s appeal as a safe-haven for investors. The lack of new supply until 2027 is expected to support continued rental growth, albeit at a measured pace.

Bastiaan van Beijsterveldt, Managing Director of Colliers Singapore, noted, “Cautious sentiment and slower leasing activity suggest demand will remain subdued in the near term. Landlords should adopt proactive strategies such as offering flexible spaces, enhanced amenities, and speculative fit outs to retain tenants and capture interest.”

Tenant enquiries and inspection activities have slowed, reflecting a cautious approach amid persistent macroeconomic uncertainties. However, occupiers with upcoming lease expiries are beginning their reviews earlier, with some exploring fitted solutions to manage costs.

Looking ahead, Colliers anticipates that office demand may taper towards the end of 2025 as companies consolidate their footprints following restructuring efforts. Despite this, Singapore’s stability and government initiatives to bolster its position as a hub for commodities trading, digital industries, and financial services are expected to sustain premium rents and attract multinational firms.

Catherine He, Head of Research at Colliers Singapore, added, “Easing interest rates have created a positive spread for investors, whilst higher rents are motivating some occupiers to own rather than lease. Despite limited repricing, Singapore offices remain attractive for their safe-haven status and steady yields.”

Singapore’s digital economy has reached a significant milestone, growing by S$12b in 2024 to hit S$128.1b, according to the latest Singapore Digital Economy (SGDE) Report by the Infocomm Media Development Authority (IMDA). This growth now accounts for 18.6% of the nation’s GDP, highlighting the increasing importance of digitalisation across various sectors.

The report reveals that more than two-thirds of this growth comes from non-Information & Communications sectors, with Finance & Insurance, Wholesale Trade, and Manufacturing leading the charge. This underscores the widespread adoption of digital technologies beyond traditional tech industries.

AI adoption has played a crucial role in this expansion. The report notes that the AI adoption rate among small and medium-sized enterprises (SMEs) more than tripled to 14.5% in 2024. Non-SMEs also saw a significant increase, with adoption rates jumping from 44% to 62.5%. Nearly 75% of workers are now using AI tools regularly, enhancing productivity and efficiency.

The tech workforce in Singapore has expanded to 214,000, driven by roles in AI, data, and cybersecurity. These positions offer competitive wages, with the median monthly salary for tech workers at S$7,950, well above the overall median.

As digitalisation continues to permeate various sectors, Singapore’s economy is poised for further growth. The focus on AI and digital tools is expected to drive innovation and efficiency, ensuring the nation remains at the forefront of the digital revolution.