Industry News

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.

COMO Metropolitan Singapore has announced the installation of SleepHub technology across all 156 guest rooms and suites, marking a significant milestone as the first hotel in Asia to implement this neuroscience-led sleep solution property-wide. Effective from 1 March 2026, the initiative aims to address the growing demand for improved sleep quality among travellers, particularly those affected by jet lag and urban stress.

Developed by Cambridge Sleep Sciences in the UK, SleepHub uses low-frequency sound waves to guide the brain into natural slow-wave sleep, promoting physical recovery and mental well-being. This innovative technology is backed by over a decade of research and is designed to improve sleep quality by reducing night-time awakenings and enhancing morning alertness.

Ruby Garcia, General Manager of COMO Metropolitan Singapore, stated, “At COMO Metropolitan Singapore, wellness begins with sleep. By integrating SleepHub into every room, we offer guests a practical, science-backed way to recover deeply—even in the heart of the city.”

In conjunction with the SleepHub rollout, the hotel has reintroduced its Sleep Dreams package. This two-night immersive stay includes in-room SleepHub access, treatments at COMO Shambhala, and support from The ENT, Voice & Snoring Clinic. The package, starting at S$1,380, offers a comprehensive approach to restorative sleep.

The introduction of SleepHub complements COMO Shambhala’s wellness offerings, reinforcing the hotel’s commitment to holistic health and luxury. As sleep tourism rises, COMO Metropolitan Singapore sets a new standard in sleep hospitality, providing guests with an unparalleled opportunity to enhance their rest and recovery.

Wee Hur Holdings Limited has announced a significant financial upturn for FY2025, with net profit attributable to equity holders rising by 27% to S$68.4m. This growth is attributed to strong performances across its property, construction, and workers’ dormitory segments. Revenue surged by 47% to S$295.4 million, primarily due to increased contributions from these core areas.

The company’s adjusted net profit saw a remarkable 130% increase, reaching S$105.5m, reflecting enhanced operational efficiency and strategic project wins. The construction order book, valued at approximately S$672.5m, ensures project visibility through FY2029, bolstering medium-term prospects.

In the property sector, revenue soared by 83% to S$82.9m, driven by the successful progression of the Bartley Vue residential development. Meanwhile, the workers’ dormitory segment, a key income pillar, expanded with the completion of Pioneer Lodge, achieving a 67% occupancy rate.

Wee Hur’s investment ventures include a joint project with BE Education Group for Wycombe Abbey School in Singapore, set to open in 2028, and the redevelopment of Hotel Miramar into Doubletree by Hilton Singapore, launching in late 2026.

The Board has proposed a final tax-exempt dividend of S$0.01 per ordinary share, totalling S$0.015 for FY2025. With cash reserves of S$250.8m as of 31 December 2025, Wee Hur remains well-positioned for future growth and investment opportunities.

Leong Guan Holdings Limited has announced a 7% increase in revenue for the financial year 2025, reaching S$40m. This marks the company’s first full-year results following its listing on the Catalist board of the Singapore Exchange in December 2025. Executive Director and Chairman Lim Tze Chiang highlighted the significance of the listing, stating it has strengthened the company’s operational foundation and capital base, setting the stage for long-term growth.

The company’s financial performance was bolstered by increased demand for its trading and original equipment manufacturer (OEM) products, alongside enhanced sales and marketing efforts. Despite the rise in revenue, profit before tax fell to S$0.7m, impacted by strategic investments and listing-related expenses. Excluding these one-off costs, normalised profit before tax stood at S$1.7m.

Leong Guan expanded its manufacturing capabilities during the year, securing new leases and investing in machinery to enhance production capacity for its soy bean-based products. This expansion contributed to higher staff, depreciation, and finance costs. Nevertheless, the company generated S$2.9m in net cash from operating activities, reflecting effective operational discipline.

The company’s total equity rose by 69% to S$10.3m, driven by the issuance of new shares during the IPO. The board has proposed a final dividend of 0.3935 Singapore cents per share, subject to approval at the upcoming Annual General Meeting in April 2026.

Banyan Tree Holdings Limited announced a robust financial performance for the fiscal year ending 31 December 2025, with revenue climbing 25% to S$477.4m. The significant growth was primarily attributed to the Residences segment, which saw its revenue nearly double to S$197.6m. Core Operating Profit also rose by 59% to S$109.8m, bolstered by S$239.6m in residence sales and 24 new agreements signed.

The Group’s President and CEO, Eddy See, highlighted the strength of Banyan’s diversified portfolio and its asset-light growth model. “Reaching our 100-resort milestone signals the next phase of disciplined expansion as we enter new and meaningful markets,” he stated. This expansion includes the opening of the 100th resort, Mandai Rainforest Resort by Banyan Tree, marking a symbolic homecoming to Singapore.

In FY25, Banyan Group expanded its branded residences portfolio with seven new sales launches, including the Banyan Tree Padilla Madrid Residences, its first European development. The Group also introduced Bellaguna, a standalone residential brand, with its inaugural project, Bellaguna Lake Residences Lotus.

Banyan Group’s global recognition was affirmed with over 400 awards in 2025, including Gold for Best Risk Management at the Singapore Corporate Awards. The Group was also admitted into the Design Power Index for its social and environmental impact through design. Notably, Banyan Tree was ranked No. 2 Best Hotel Brand in the Travel + Leisure Luxury Awards Asia Pacific 2025.