Industry News

Rolls-Royce and Microsoft have jointly published a position paper advocating for the adoption of Hydrotreated Vegetable Oil (HVO) as a sustainable backup power solution for Singapore’s data centres. The paper aligns with Singapore’s Green Data Centre Roadmap and its net-zero 2050 targets, emphasising the need for immediate action to decarbonise the critical infrastructure supporting the digital economy and AI.

The position paper outlines several key areas, including the urgent need for HVO as a readily deployable solution compatible with existing infrastructure. It also calls for regulatory clarity to drive adoption through harmonisation, certification, and incentive schemes. The paper stresses the importance of partnerships between multinational corporations to advance Singapore’s innovation and sustainability goals.

HVO offers significant environmental benefits, including up to a 90% reduction in CO2 emissions and an 80% reduction in particulate matter compared to conventional diesel. It is also free from aromatic compounds, which are harmful to both health and the environment. Importantly, HVO can be used in existing diesel generators without major modifications, making it a practical choice for data centres.

Despite its advantages, HVO remains two to three times more expensive than fossil diesel, posing a barrier to widespread adoption. The paper suggests that targeted regulatory support, similar to the Maritime and Port Authority’s Green Ship Programme, could help bridge this cost gap. By doing so, Singapore could position itself as a hub for certified renewable fuels, attracting global investment and enhancing its role in the regional energy transition.

The collaboration between Rolls-Royce and Microsoft underscores a commitment to reducing operational emissions and fostering a sustainable data centre ecosystem. The paper concludes that a collaborative approach involving industry stakeholders and policymakers is essential to accelerate the transition to low-carbon solutions, thereby advancing Singapore’s climate objectives and economic growth.
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Demand for luxury homes in Singapore’s core central region (CCR) has maintained strong momentum in Q2 2025, with sales volumes surpassing the average number of units sold over the past two years. According to OrangeTee’s latest report, 141 luxury homes, each priced above $5m, were transacted, exceeding the quarterly average of 125 units recorded in 2023 and 2024.

The total transaction value for these luxury homes increased to $1.377b, reflecting sustained demand. The secondary market played a significant role, with 120 resale luxury homes sold, surpassing the quarterly average of 94 units over the past two years. Additionally, 19 new luxury homes were sold, with notable contributions from developments such as 21 Anderson and Watten House.

Ultra-luxury flats, priced at least $10m, saw 14 transactions in Q2. The most expensive unit, a 5,285 sqft flat at Skywaters Residences, sold for $30.87m in June. Good Class Bungalow (GCB) sales also surged, with nine units transacted, up from two in Q1.

Christine Sun, Chief Researcher & Strategist at OrangeTee-Realion Group, noted the appeal of GCBs as investment-grade assets amidst global trade uncertainties. The report suggests that Singapore’s stable residential market continues to attract high-net-worth individuals, with upcoming project launches in the CCR expected to further stimulate market activity. Despite potential geopolitical challenges, the luxury property market is anticipated to remain robust.
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Genius Mind has announced a significant expansion of its services to include coding, financial literacy, and artificial intelligence (AI) skills. This initiative aims to equip children with essential, future-ready skills in today’s digital-first world.

The agency has added over 500 educators specialising in these new areas, complementing its existing pool of more than 10,000 academic tutors. This expansion reflects a growing demand for tailored learning in enrichment areas. Coding lessons are structured to cater to students at various stages, from beginner-friendly platforms like Scratch for young children to more advanced languages such as Python, JavaScript, and Java for older students. This approach ensures that students, ranging from four-year-olds to teenagers, can develop problem-solving and logical thinking skills.

In addition to coding, Genius Mind is introducing financial literacy and AI-focused lessons. These programmes aim to provide children with a solid foundation in money management and an understanding of emerging technologies. By teaching practical skills like saving and budgeting alongside AI concepts, the agency addresses parents’ desire for a holistic education that prepares children for life beyond school.

Genius Mind’s efficient Telegram-based system allows parents to connect with qualified tutors within two hours, ensuring quick and personalised matches. Founded by Gary Ong, who has over 12 years of industry experience, the agency has built a reputation for trust, transparency, and results. With this latest expansion, Genius Mind reaffirms its commitment to being a forward-looking education partner dedicated to students’ long-term growth. “Private tuition has always been about helping students do well in school,” Ong said. “Today, it must also prepare them for the world they will grow into.”
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Seco Tools has unveiled a new digital tool designed to assist its production units in achieving ambitious sustainability targets. The Industrial Sustainability Assessment, initially launched in 2023, aims to streamline sustainability efforts across Seco’s global sites by providing a structured approach to assess and improve environmental and social practices.

The tool, now digitised in MyPages, helps sites track their progress towards Seco’s global sustainability goals, which include achieving 90% circular waste by 2030 and Net-Zero operations by 2035. It covers key areas such as People and Communities, Climate Biodiversity and Circularity, Site Specific sustainability, and Supplier management. The assessment defines six levels of sustainability, from basic legal compliance to best practices, allowing sites to identify and prioritise areas for improvement.

Seco’s initiative was co-developed with sites in Sweden and the Netherlands, ensuring the tool is practical and user-friendly. Since its digital rollout in 2024, the tool has enabled sites to create action plans, track progress, and share best practices, enhancing their sustainability performance.

Looking ahead, Seco is exploring the potential for an externally adapted version of the tool for stakeholders and customers. This move could extend the tool’s benefits beyond Seco’s operations, promoting broader sustainability practices in the industry.
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Japanese home furnishing giant Nitori has unveiled its largest store outside Japan in Singapore’s Bugis Junction. The expansive 31,000-square-foot store aims to cater to the growing demand for quality home furnishings in Southeast Asia. This strategic move underscores Nitori’s commitment to expanding its footprint in the region, offering a wide range of products from furniture to home accessories.

Located in the heart of Singapore, the new store is set to become a key destination for home enthusiasts. Nitori’s decision to open its largest overseas outlet in Singapore reflects the city-state’s strategic importance as a retail hub in Asia. The store will feature an extensive selection of Nitori’s signature products, known for their affordability and quality.

The opening of the Bugis Junction store is part of Nitori’s broader strategy to increase its presence in international markets. By choosing Singapore, Nitori taps into a diverse and affluent consumer base, aligning with its goal to become a global leader in the home furnishing industry.

As Nitori continues to expand its international operations, the Singapore store is expected to play a pivotal role in the company’s growth strategy. The launch not only enhances Nitori’s brand visibility but also strengthens its competitive position in the Southeast Asian market.
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AAC Technologies has released its 2025 interim results report in Singapore and saw an expected revenue growth of over 18% for 2025, with a gross profit margin surpassing that of 2024. The company’s interim results for the first half of 2025 revealed a record revenue of RMB 13.32 billion, marking an 18.4% year-on-year increase. Net profit also surged by 63.1% to RMB 876 million. The company’s CFO, Guo Dan, highlighted that the second half of the year is expected to maintain this high growth rate.

The company attributes this growth to advancements in artificial intelligence (AI) and the expansion of its product lines, including heat dissipation products and MEMS microphones. AAC Technologies projects that its MEMS microphone business will see a revenue increase of over 50% in 2025 due to rising demand for voice interaction in AI smartphones. Additionally, the company expects its heat dissipation business to triple its revenue compared to 2024, driven by increased demand from high-end overseas customers.

In the optics sector, AAC Technologies’ proprietary WLG lenses are set to achieve a milestone, with shipments expected to exceed 10 million units this year and grow by more than 50% next year. The company has also secured significant orders for its 1G6P lenses from leading Chinese customers.

The in-vehicle product segment, which AAC Technologies entered in 2021, continues to grow, contributing over 13% to the group’s total revenue. The company has expanded its capabilities through acquisitions and aims to become a diverse solution provider in audio, video, and lighting systems for vehicles.

AAC Technologies remains committed to seizing market opportunities and expanding its market share, aiming for steady performance growth and better returns for shareholders.
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S&P Global Ratings has assigned a ‘BBB+’ long-term issue rating to Oversea-Chinese Banking Corp.’s (OCBC) Tier-2 subordinated notes, which are due in 2035. This $1 billion issuance is part of OCBC’s $30 billion global medium-term note programme. The rating is two notches below S&P’s ‘a’ assessment of OCBC’s stand-alone credit profile, reflecting the securities’ subordination risk and a nonviability clause.

The nonviability clause mandates that OCBC must permanently write off the securities, either partially or fully, if a loss-absorption trigger event occurs. This could happen if the Monetary Authority of Singapore (MAS) informs the bank of its nonviability without such a write-off, or if MAS opts for a public-sector capital injection to prevent the bank from becoming nonviable.

OCBC plans to utilise these notes as Tier-2 regulatory capital. The securities will rank junior to all depositors and senior creditors, but senior to all additional Tier-1 bondholders. This structure is designed to bolster OCBC’s capital base whilst providing a buffer for senior obligations.

The assignment of this rating is significant as it underscores the bank’s strategic approach to maintaining robust capital adequacy. It also highlights the importance of regulatory compliance in ensuring financial stability. As OCBC continues to expand its financial offerings, the rating provides market participants with a measure of the bank’s creditworthiness and risk profile.
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Singapore’s industrial production experienced a robust growth of 7.1% year-on-year in July, maintaining the same pace as June, according to Nomura’s latest research summary. This growth was primarily driven by a significant increase in electronics output. Meanwhile, core inflation saw an unexpected decline to 0.5% from June’s 0.6%, attributed to a sharp decrease in retail and other goods inflation and a reduction in electricity tariffs.

The report, authored by Euben Paracuelles and Charnon Boonnuch of Nomura, highlights that the industrial production growth exceeded expectations, with consensus forecasts at 0.9% and Nomura’s own prediction at 1.0%. On a month-on-month basis, seasonally adjusted industrial production rose sharply by 8.2%, a significant turnaround from a 0.8% decline in the previous month.

Nomura maintains its 2025 GDP growth forecast for Singapore at 2.6%, which is above the official forecast range of 1.5% to 2.5%. However, the firm anticipates a marked slowdown in the second half of the year. The 2025 core inflation forecast is reiterated at 0.7%, near the lower end of the official forecast range of 0.5% to 1.5%, suggesting a benign inflation outlook for the remainder of the year.

These figures underscore the resilience of Singapore’s industrial sector amidst global economic uncertainties, whilst the easing inflation provides some relief to consumers. The continued strength in industrial output, particularly in electronics, is a positive sign for the country’s economic trajectory.
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7-Eleven Singapore is set to delight fans of the mischievous Crayon Shin-chan with its latest Shop and Earn Stamps Programme, running from 3 September to 28 October 2025. The programme offers an exclusive collection of Crayon Shin-chan merchandise, including mystery blind boxes and lifestyle accessories, available for redemption until 4 November 2025 or whilst stocks last.

Customers can earn a stamp for every $5 spent at any 7-Eleven store across Singapore. Collecting four stamps allows customers to redeem a blind box for an additional $10.90, which contains either a Crayon Shin-chan Phone Lanyard with Backclip or a Crayon Shin-chan Fluffy Pouch. The lanyards and pouches come in multiple designs, featuring Shin-chan and his sidekick, Shiro.

For those preferring to use yuu points, 200 points plus a top-up of $8.90 can also secure a blind box, though this option is not available at Jewel and Airport stores. Additional stamps can be earned through the purchase of selected products.

Beyond the blind boxes, the collection includes a range of Shin-chan-themed items such as plush power banks, Bluetooth speakers, and a 2-in-1 pillow blanket. These items aim to bring a touch of Shin-chan’s playful charm to everyday life.

The programme, in collaboration with Play Nation Studio, excludes certain transactions like tobacco products and online purchases from stamp collection eligibility. For more details, customers are encouraged to visit 7-Eleven’s social media pages.
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CapitaLand Integrated Commercial Trust (CICT) has been highlighted by DBS Group Research as a promising investment, following a 3.5% year-on-year increase in its distribution per unit (DPU) to 5.62 Singapore cents for the first half of 2025. This performance exceeded expectations due to strong rental reversions and reduced financing expenses. Consequently, DBS Group Research has raised its 12-month target price for CICT to SGD2.50, reflecting an 11% upside from the last traded price of SGD2.26 on 25 August 2025.

The trust’s robust performance is attributed to its strategic acquisition of the remaining 55% stake in CapitaSpring Commercial, which is expected to be accretive by 1%. This acquisition, along with anticipated master lease renewals in the financial years 2026 and 2027, is set to bolster CICT’s growth. Geraldine Wong, an analyst at DBS, noted that the trust is well-positioned to benefit from Singapore’s stable economy, with its assets contributing approximately 95% of revenue.

CICT’s portfolio, which covers a significant portion of Singapore’s commercial properties, is expected to sustain organic growth. The trust’s leverage ratio of around 38% provides ample room for future asset enhancement initiatives and acquisitions. Additionally, the completion of asset enhancement initiatives at key locations such as IMM Building and Lot One, Tampines Mall, is anticipated to support growth visibility.

DBS Group Research maintains a “BUY” rating for CICT, with the revised target price implying a forecast yield of 4.5% for the financial year 2025. The trust’s strategic moves and stable economic environment in Singapore are expected to support a 3% annual growth in DPU from 2025 to 2026.
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