Industry News

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.

OUE Limited has announced its financial results for the fiscal year ending 31 December 2025, reporting a revenue of S$617m alongside a loss attributable to shareholders amounting to S$279.1m. The results highlight a 4.6% decrease in revenue compared to the previous year, where the company recorded S$646.5m. The loss marks a slight improvement from the previous year’s loss of S$286.8m.

The company’s financial performance was impacted by several factors, including a decline in gross profit, which fell by 6.3% to S$334.1m. This was attributed to a decrease in revenue and an increase in marketing and administrative expenses. Additionally, OUE’s share of results from equity-accounted investees showed a significant downturn, contributing to the overall loss.

Despite the challenging financial landscape, OUE’s total assets stood at S$8.3b, with investment properties valued at S$4.7b. The company also reported a reduction in borrowings, which decreased from S$3.1b to S$2.9b, reflecting efforts to manage financial liabilities.

The financial results underscore the difficulties faced by OUE in navigating the current economic environment. Looking ahead, the company remains focused on strategic initiatives to enhance operational efficiency and explore growth opportunities to improve its financial standing.

Singaporeans are expressing heightened confidence in their financial prospects and the domestic economy, according to a recent survey by MDRi. The survey, which included 1,000 respondents from Singapore and Hong Kong, reveals that 45% of Singaporeans expect their financial situation to improve in 2026, compared to 34% of Hongkongers. Additionally, 70% of Singaporeans are optimistic about the national economic outlook, significantly higher than the 41% in Hong Kong.

The optimism is bolstered by Singapore’s Budget 2026, delivered on 12 February by Prime Minister and Minister for Finance Lawrence Wong. The Budget introduces measures such as additional cash disbursements, enhanced utilities rebates, and expanded Community Development Council vouchers to alleviate cost-of-living pressures. These initiatives aim to strengthen short-term cash flow and help households manage essential expenses like groceries, transport, and energy.

Affluent individuals in Singapore are particularly optimistic, with 49% expressing financial optimism for 2026, compared to 42% in Hong Kong. This demographic’s confidence is attributed to diversified investment exposure and financial adaptability. The Budget’s focus on business dynamism and long-term growth, including corporate income tax rebates and enterprise financing support, is seen as particularly beneficial for this group.

The survey also indicates that Singaporeans are more optimistic about China’s economic prospects and the broader Asian economy than their Hong Kong counterparts. However, global uncertainty continues to affect sentiment, with both markets showing low optimism towards the world economic environment.

Simon Tye, CEO of MDRi, stated, “Singapore enters the Year of the Horse from a position of strength. Confidence in personal finances and the domestic economy remains elevated, particularly among affluent households, and Budget 2026 adds a further layer of support through cost-of-living measures and pro-business policies.”

Attika Group has announced a 19.3% increase in net profit for the financial year 2025, reaching S$3.4m. This growth is attributed to an expansion in gross profit margin, which rose to 20.5% from 15.1% in the previous year. The company has also secured two new contracts worth S$12m for interior fit-out projects, underscoring its strategic focus on high-value, high-specification projects.

The company has proposed a final dividend of 1.1029 Singapore cents per share and aims to distribute 35% of net profit attributable to owners for the financial years 2026 and 2027. Executive Chairman and Managing Director, Steven Tan, highlighted the resilience of Attika’s business model, stating, “Our FY2025 performance demonstrates the resilience of our business model. Whilst topline figures moderated after a landmark FY2024, our ability to expand margins and grow net profit by nearly 20% validates our strategy.”

Attika’s recent contract wins in the public infrastructure and commercial sectors indicate strong momentum as the company moves into 2026. The firm remains committed to maintaining capital discipline to seize opportunities within Singapore’s thriving construction sector.

Looking ahead, Attika Group’s strategic priorities include continuing to target high-value projects and sharing growth benefits with shareholders through consistent dividend payouts.

The Monetary Authority of Singapore (MAS) has announced that it is closely observing the ongoing situation in the Middle East to assess its potential impact on Singapore’s economy and financial system. Despite the geopolitical tensions, MAS confirmed that the country’s foreign exchange and money markets are functioning normally.

The Singapore dollar nominal effective exchange rate (S$NEER) remains within its appreciating policy band, which helps mitigate imported inflationary pressures. This stability is crucial for maintaining economic balance in the face of external uncertainties.

In its January Monetary Policy Statement, MAS highlighted its readiness to respond to any risks that may threaten medium-term price stability. This proactive stance underscores the authority’s commitment to safeguarding Singapore’s economic interests amidst global challenges.

The MAS’s vigilance and preparedness provide reassurance to market participants and the public, ensuring confidence in the resilience of Singapore’s financial system. As developments unfold, MAS remains poised to take necessary actions to maintain economic stability.