Industry News

Stoneweg Europe Stapled Trust (SERT) has announced the divestment of its French asset, Parc de Meslay, to SNC France Plateformes, a subsidiary of the current tenant’s group, for €5.7m (approximately S$8.5m). The transaction, which is expected to complete in October 2026, is part of SERT’s strategy to optimise its portfolio and increase its focus on logistics, light industrial, and data centres.

Parc de Meslay, a fully leased cold-storage logistics facility, spans approximately 5,613 square metres and is strategically located near Tours, France. The sale price represents a 3.3% premium over the latest independent valuation conducted on 31 December 2025. The proceeds from this divestment will be reinvested into opportunities aligned with SERT’s strategy or used for general working capital.

Simon Garing, CEO of the Manager, stated, “The divestment of Parc de Meslay is part of SERT’s ongoing portfolio optimisation initiatives, consistent with our previously communicated strategy and part of the announced €70m in divestments that SERT is targeting for 2026, supporting long-term, risk-adjusted returns for securityholders.”

Post-divestment, SERT’s portfolio will maintain a weighting of over 61% in logistics, light industrial, and data centres, with Western Europe and the Nordics comprising more than 90% of the portfolio. This move supports SERT’s aim to increase its exposure to these sectors to over 70% by 2027, alongside advancing its data centre development pipeline.

The transaction reflects SERT’s disciplined asset management approach, aimed at sustaining stable distributions and long-term growth for its securityholders.

The Singapore government has announced its Government Land Sale (GLS) Programme for the second half of 2026, maintaining a stable supply of over 9,000 new non-landed private homes. This includes 4,745 units on the Confirmed List, closely mirroring the 4,575 units from the first half of the year. The programme also signals a strategic shift towards decentralising commercial office activity, with the Town Hall Link site moved from the Reserve List to the Confirmed List.

Leonard Tay, Head of Research at Knight Frank Singapore, noted the absence of new commercial sites in the Downtown Core Planning Area, which could lead to increased rental premiums in the central business district (CBD) when economic conditions improve. Tay highlighted the potential of decentralised locations like Jurong East, suggesting that a forward-looking discounted office rent could attract businesses to these areas.

The Confirmed List includes notable sites such as Orchard Boulevard, East Coast Road, and Jurong East Avenue 1. The Orchard Boulevard site, positioned in a quieter area near the bustling Orchard Road, is expected to appeal to luxury residential buyers. Meanwhile, the East Coast Road site offers a boutique residential development opportunity in the Siglap enclave, though its minimum unit size may limit scalability.

Jurong East Avenue 1, an Executive Condominium (EC) site, is anticipated to attract developers and buyers due to its proximity to established residential areas and future transport links. The Town Hall Link site in Jurong East is poised to become a significant integrated development, potentially yielding 1,200 homes and substantial office and retail space. However, the success of decentralised office spaces remains uncertain amongst large corporates.

Singapore has been ranked as the most operationally efficient market in the Asia-Pacific (APAC) region, according to the Vistra Friction Index 2026. The report highlights that businesses navigating regional complexities can gain a competitive edge by effectively managing operational friction. This efficiency is crucial for companies expanding in high-growth economies, where the benefits of overcoming such challenges often surpass the costs.

The Vistra Friction Index evaluates 12 markets across APAC and the Middle East, using a Market Attractiveness Scorecard and a Friction Index. These tools assess factors like economic resilience and regulatory complexity, providing businesses with a strategic guide for aligning growth ambitions with execution realities. Melanie Leydin, Executive Vice President of Global Solutions, South East Asia, stated, “The businesses set to win in Asia-Pacific are those that stop treating complexity as a problem to solve and start treating it as a position to hold.”

The report categorises markets into four strategic profiles: Fast-Track, Competitive Advantage, Efficiency, and Precision Entry Markets. Singapore, along with Australia and Hong Kong SAR, is identified as a Fast-Track Market, offering streamlined regulation and deep talent pools. However, Singapore faces a talent shortage, with 164 open tech jobs for every 100 qualified seekers, leading to a 25% wage premium for critical roles in AI, cloud, and cybersecurity.

Tiffany Lim, Market Lead for Singapore and ASEAN, noted, “Singapore’s unparalleled efficiency is where the opportunity lies. Firms that can mitigate talent crunches and compliance burdens will be best positioned to scale operations across Southeast Asia.” The Vistra Friction Index underscores the importance of managing operational friction as a key differentiator in global expansion.

DFI Retail Group and UK-based health retailer Holland & Barrett have announced a strategic partnership aimed at expanding access to wellness solutions across Asia. This multi-year collaboration will integrate Holland & Barrett’s 155-year heritage in wellness with DFI’s extensive retail network, initially targeting markets in Singapore and Hong Kong.

The partnership comes as Asian consumers increasingly seek preventive and personalised health solutions. Gordon Farquhar, International Managing Director of Holland & Barrett, stated, “As demand for wellness continues to grow across Asia, we are delighted to partner with DFI to bring our heritage and trusted wellness solutions to millions more consumers across the region.”

Under the agreement, DFI will serve as Holland & Barrett’s distribution partner, with plans to expand across the region in the coming years. Andrew Wong, CEO of Health & Beauty at DFI Retail Group, commented, “This partnership is a pivotal step in our journey to deepen our position as the Trusted Adviser for Wellness across Asia.”

Customers can expect a curated range of science-led wellness products, including vitamins and supplements, available both in-store and online. The partnership also promises technology-enabled wellness services, such as AI-powered skin and scalp assessments, to enhance the customer experience.

The collaboration marks a significant milestone in Holland & Barrett’s international expansion strategy and reinforces DFI’s ambition to become Asia’s Trusted Adviser for Wellness. The partnership officially launched in Singapore this month, with further market rollouts planned across Asia.

Handshake Finance, a fintech company based in Singapore, has successfully raised S$500,000 in a pre-seed funding round to develop its escrow-as-a-service platform. The funding will primarily support the company’s expansion within the renovation and interior design sector in Singapore, with plans to extend its services to other industries facing similar trust issues.

Founded in September 2025 by Christopher Chan and Lee Jun Xian, Handshake Finance was inspired by personal experiences of trust failures in service transactions. Chan and Jun Xian, who met as university classmates in London, identified a recurring problem where either the customer pays before work is completed or the provider works without upfront payment, leaving one party at risk. Their platform aims to mitigate this risk by holding funds in escrow and releasing them upon completion of agreed milestones.

The company operates on a bank-grade payment infrastructure, fully regulated by the Monetary Authority of Singapore (MAS), with funds held in segregated accounts at DBS. “We are trying to solve a structural trust gap in service industries,” said Chan. “Our users have to trust us, and ensuring every fund flow is compliant is our top priority.”

Handshake Finance has already onboarded over 40 interior design companies and signed partnerships with Renonation.sg and Network SG to boost awareness and adoption. Jun Xian expressed excitement about the support received, stating, “We are laser-focused on fixing renovation first before expanding to other markets.”

The platform’s innovative approach includes AI-generated transaction structures and offers mediation services, aiming to improve the transactional experience for both homeowners and service providers.

FOMO Pay, a prominent Singapore-based payment institution, is set to launch DuitNow QR acceptance in Singapore, allowing Malaysian travellers to make payments using their familiar banking apps. This initiative comes ahead of the Johor Bahru-Singapore Rapid Transit System (RTS) Link, which is expected to commence operations in January 2027, transporting up to 40,000 passengers daily.

The introduction of DuitNow QR aims to support Singapore merchants by catering to the increasing number of Malaysian visitors. By enabling payments in Malaysian Ringgit (MYR) whilst settling in Singapore Dollars (SGD), FOMO Pay simplifies the payment process for merchants, eliminating the need for separate setups or manual currency handling.

Rose Wang, Head of Digital Payments at FOMO Pay, highlighted the significance of this development, stating, “As travel and consumer movement across Southeast Asia becomes increasingly fluid, real-time payment rails like DuitNow are fast becoming part of the infrastructure powering everyday regional commerce.”

This rollout is part of FOMO Pay’s broader strategy to enhance cross-border payment experiences, supporting merchants in connecting with Malaysian consumers naturally. The initiative reflects the growing importance of seamless payment experiences in shaping consumer confidence and behaviour, particularly in retail, dining, and lifestyle sectors.

Founded in 2015, FOMO Pay is a licensed payment institution in Singapore, Hong Kong, and the Middle East, offering digital payment, banking, and asset solutions. The firm continues to expand its reach across Asia, facilitating cross-border consumer spending through a unified platform.

MSD has announced that Singapore’s Health Sciences Authority (HSA) has approved ENFLONSIA™ (clesrovimab) for preventing respiratory syncytial virus (RSV) lower respiratory tract disease in newborns and infants entering their first RSV season. This makes Singapore the first market in the Asia Pacific region to approve this treatment.

ENFLONSIA™ is a long-acting monoclonal antibody designed to offer protection for five to six months with a consistent 105mg dose, irrespective of the infant’s weight. This approval provides an additional preventive option for infants during the critical RSV season, which in Singapore peaks from May to September.

Assistant Professor Yeo Kee Thai from KK Women’s and Children’s Hospital highlighted the importance of such developments, stating, “Infections from RSV can result in serious respiratory conditions in young children, including bronchiolitis and pneumonia.” Dr Jenny Tang from SBCC Baby & Child Clinic emphasised the global significance of RSV as a cause of hospitalisation in infants, noting its association with long-term respiratory issues.

The approval is based on the results from the Phase 2b/3 CLEVER trial and the Phase 3 SMART trial, which evaluated the safety and efficacy of ENFLONSIA™. Dr Ivan Su from MSD Asia Pacific expressed satisfaction with the approval, noting the treatment’s role in reducing the burden of RSV on families and healthcare systems.

ENFLONSIA™ is now available for administration by healthcare providers in Singapore, marking a significant step in the nation’s preventive healthcare efforts.

The Maritime and Port Authority of Singapore (MPA) and MSC Mediterranean Shipping Company have signed a Memorandum of Understanding (MOU) to enhance collaboration in maritime decarbonisation, digitalisation, innovation, and manpower development. The agreement was formalised on 25 May 2026 by the chief executives of both organisations.

The MOU signifies a shared commitment to fostering a sustainable and digital maritime sector, whilst also marking the 30th anniversary of MSC’s presence in Singapore. The partnership will explore new routes and services to improve connectivity and support the adoption of alternative marine fuels such as bio-LNG. Additionally, it aims to advance technologies for better vessel energy efficiency and operational performance.

In terms of digitalisation, MPA and MSC will work together to streamline vessel arrivals and port operations, thereby improving operational efficiency. On the manpower front, MSC will offer internship and scholarship opportunities through the Singapore Maritime Foundation’s Maritime Outreach Network (MaritimeONE), a platform designed to attract talent to the maritime industry.

Ang Wee Keong, Chief Executive of MPA, stated, “This partnership reflects the strong collaboration between MPA and MSC in driving sustainability and digitalisation in the maritime sector.” Soren Toft, CEO of MSC, added, “As we mark 30 years in Singapore, this MOU reinforces our long-term commitment to strengthening our presence here.”

The collaboration is expected to bolster Singapore’s position as a global maritime hub and align with the future priorities of global shipping.

Juspay, a payments technology company based in India, has announced its inclusion in the Mastercard Engage partner network as a certified Click to Pay partner. This move marks Juspay’s expansion into the Asian market, following a successful rollout in Brazil. The partnership aims to provide merchants in Singapore and the broader Asia-Pacific region with faster, more secure, and frictionless checkout experiences.

Juspay’s integration with Mastercard Engage introduces two key capabilities: biometric authentication with passkeys and card tokenisation. These features are designed to enhance security by enabling passwordless transactions and replacing sensitive card data with secure tokens, respectively. This aligns with Singapore’s efforts to strengthen consumer identity frameworks and reduce fraud risks amidst rising digital payment volumes.

Mark Ronayne, Juspay’s Associate Director – International, stated, “Joining the Mastercard Engage partner network is an important milestone as we scale Click to Pay globally. At Juspay, we’re focused on removing friction from the checkout experience whilst maintaining the highest standards of security.”

The partnership is expected to bolster Juspay’s position as a trusted payments partner for major enterprises and financial institutions worldwide. With over 300 million transactions processed daily, Juspay supports global brands such as Amazon, Google, and HSBC. The company’s recent Series D funding round, led by WestBridge Capital, valued Juspay at $1.2b, underscoring its significant impact in the payments technology sector.

Singapore’s stock market has seen a substantial rise in share buybacks, with 57 primary-listed companies repurchasing S$1.26b worth of shares in the first five months of 2026. This marks a notable increase from S$930m in the same period of 2025 and S$505m in 2024. The surge in buybacks is led by Straits Times Index (STI) stocks, which collectively accounted for S$1.20b of the total.

The increase in buybacks is attributed to companies seeking to enhance financial metrics such as Earnings per Share (EPS) and Return on Equity (ROE), as well as to deploy surplus capital effectively. The Accounting and Corporate Regulatory Authority (ACRA) notes that buybacks can also take advantage of perceived undervaluation and reduce overall capital costs.

Among non-STI stocks, CSE Global led the buyback activity in May, purchasing 2 million shares for S$3.2m. The company’s buybacks are used to hold treasury shares for transfer under the CSE Performance Share Plan. Other notable non-STI buybacks included Hong Fok Corporation and Food Empire Holdings.

Secondary stocks like Jardine Matheson and Hongkong Land were also active, repurchasing US$217m and US$98m worth of shares, respectively. These buybacks align with broader capital allocation strategies aimed at value creation.

As companies continue to utilise buybacks as a strategic tool, the trend is expected to influence market dynamics and shareholder confidence in the coming months.