Industry News

Singapore’s industrial production (IP) demonstrated unexpected strength in July, with a robust 8.2% month-on-month seasonally adjusted increase, according to UOB Global Economics and Markets Research. This growth rate, the fastest since July 2024, significantly outpaced Bloomberg’s estimate of 1.1% and UOB’s own forecast of 0.9%. Year-on-year, IP rose by 7.1%, surpassing expectations of 0.9%.

The impressive performance was largely driven by non-biomedical manufacturing sectors. Electronics, a major contributor, saw a 12.3% month-on-month increase, buoyed by a rebound in semiconductors. Precision engineering and transport engineering also contributed to the growth, with increases of 4.3% and 7.5% respectively.

Despite a decline in biomedical manufacturing, which fell by 18.7% month-on-month, the overall IP growth was supported by strong performances in other sectors. Electronics output, which accounts for 37.4% of overall IP, expanded by 13.1% year-on-year, driven by semiconductors and info-communications products.

UOB’s report highlighted that Singapore’s first half of 2025 GDP growth was resilient at 4.3% year-on-year, supported by export front-loading. However, the bank anticipates a slowdown in the second half due to potential US tariffs. Despite the strong July IP figures, UOB maintains its GDP growth forecasts for 2025 and 2026 at 2.2% and 1.5%, respectively. The report suggests that any future economic payback might impact trade-related services more than manufacturing.
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The Institute of Technical Education (ITE) and TP-Link Corporation have signed a Memorandum of Understanding (MOU) to equip students with essential skills for high-demand roles in the information and communications technology (ICT) sector. This partnership will provide approximately 600 students annually with practical training, global certifications, and industry exposure, preparing them for careers in networking and surveillance technologies.

The three-year collaboration will see the development of new Continuing Education & Training (CET) courses, including the Omada Certified Network Administrator (OCNA) and VIGI Certified Security Administrator (VCSA) programmes. These courses will cover areas such as wireless network management, routing and switching, and smart surveillance systems. The initiative aims to address the growing demand for skilled professionals in Singapore’s ICT and security sectors.

TP-Link will also offer internships, placements, and industry learning journeys, creating pathways to permanent roles. The partnership includes equipment sponsorship, staff attachments, and student competitions. Students will gain hands-on experience with enterprise-grade systems, learning to troubleshoot networking issues and configure surveillance systems using TP-Link technologies.

Hugo Cai, Regional Director of TP-Link, highlighted the importance of aligning training with real-world demands, stating, “By bringing industry expertise into the classroom, we’re not only supporting local education but also investing in the future of Southeast Asia’s digital workforce.” ITE CEO Low Khah Gek added, “By integrating industry-leading expertise and resources into our curriculum, we can better equip our students with industry-relevant skills.”

This collaboration is set to nurture a new generation of ICT professionals, ready to meet the challenges of a rapidly evolving digital landscape.
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DKSH Business Unit Consumer Goods has announced a strategic partnership with Hong Kong-based Nextfood Global Limited to introduce premium breakfast products in Singapore. This collaboration marks DKSH’s entry into the premium breakfast cereal segment, aiming to cater to the growing demand for nutritious and convenient breakfast options among Singaporean consumers.

Nextfood, known for its health-conscious muesli and freeze-dried fruit products, targets urban consumers with active lifestyles. The muesli blends rolled oats, oat crunch, and puffed grains with up to 20% real fruits and seeds, whilst the freeze-dried snacks are made from fresh fruit without preservatives. The initial product launch will include three muesli variants—Berry Wonderland, Choco Berryland, and Cozy Morning—and three freeze-dried fruit snacks—Dragon Fruit, Strawberry, and Fruit Mix. These will be available at FairPrice and RedMart.

Janice So and Kevin Bernhard, Co-Founders of Nextfood, expressed their excitement about the launch, stating, “Our goal has always been to offer wholesome products that resonate with busy, health-conscious consumers at an accessible price.” Adrian Kang, Vice President of Fast Moving Consumer Goods at DKSH Singapore, added, “Nextfood brings a refreshing and modern take on everyday nutrition.”

This partnership aligns with DKSH’s strategy to expand its portfolio in health and wellness-focused categories, reinforcing its commitment to delivering high-quality products in the Asia Pacific region.
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Moomoo Singapore has announced a strategic partnership with global investment firm Barings to provide accredited investors in Singapore with access to institutional-grade private credit investments. This collaboration aims to democratise access to an asset class traditionally reserved for institutions and ultra-high-net-worth individuals, offering lower minimum investment thresholds and investor liquidity through the moomoo app.

The partnership marks Barings’ first collaboration with a digital investment platform in the region. Barings, a subsidiary of MassMutual, manages over $442 billion in assets and has over 30 years of experience in private credit markets. The firm’s private credit strategies are known for disciplined risk management and consistent yield generation.

Private credit investments, which involve direct lending to businesses, offer higher yields with lower market volatility compared to traditional public debt. According to PitchBook, private credit funds have delivered an average annual return of 8–10% over the past decade. The global private credit market is projected to nearly double to $2.8 trillion by 2028, according to Preqin and the Monetary Authority of Singapore.

Ryan Wu, Head of Private Wealth and Institutional Business at Moomoo Private Wealth, stated, “We’re proud to partner with Barings to bridge the gap between institutional-grade private credit opportunities and accredited investors on our platform.” Lydia Wu, Head of Distribution for Greater China and Southeast Asia at Barings, added, “Private credit is an asset class that has a long runway for growth and presents opportunities for investors seeking alternative sources of return.”
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The Singapore telecommunications sector is witnessing significant consolidation, with Simba’s acquisition of M1 and StarHub’s increased stake in MyRepublic (MR) marking pivotal changes. These moves are expected to influence market dynamics, with mobile network operators (MNOs) maintaining aggressive strategies to defend and grow their revenue market share in the short-to-medium term.

Recent developments have seen Singtel maintaining its position as a top pick due to its return on invested capital (ROIC) expansion and capital management upsides. However, the June reporting season highlighted challenges, with Singtel and StarHub experiencing 7% and 11% year-on-year declines in mobile revenues, respectively. This was attributed to intense competition and aggressive SIM pricing, coupled with higher data inclusions and bundled roaming data.

The Simba-M1 merger, announced on 11 August, has been met with optimism regarding market consolidation, though MNOs remain uncertain about the timing of market price repair. StarHub, during its Q2/H1 2025 results call, expressed its intent to protect its interests in the Antina joint venture with M1, citing the acquisition as a material change in ownership.

StarHub’s acquisition of a 49.9% stake in MR on 12 August, following its initial 50.1% stake in September 2021, aims to strengthen its position in the broadband market. Simba’s entry into the broadband sector in 2024 with competitive pricing has intensified market competition.

Post-results, StarHub has revised its FY25 EBITDA growth forecast to an 8-12% year-on-year decline, planning aggressive strategies in the second half of 2025 to maintain its market share. Meanwhile, Singtel’s forecast remains unchanged, focusing on cost optimisation initiatives for long-term positive outcomes.
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A groundbreaking initiative, the Stroke Rehab Ecosystem, has been launched in Singapore to improve post-stroke care by reducing the wait time for rehabilitation from several months to just two weeks. Spearheaded by the Lien Foundation, Singapore General Hospital, and Tan Tock Seng Hospital, this four-year programme will provide tailored care through enhanced hospital-community coordination and upskilling of community therapists. The initiative is expected to benefit more than 2,000 stroke survivors.

The Lien Foundation is investing $3.72 million (S$5.09 million) into the programme, with an additional $1.1 million (S$1.5 million) allocated for Singapore’s first adaptive gym, designed specifically for stroke survivors. This gym, to be managed by Stroke Support Station (S3), will offer a safe environment for survivors to continue their recovery and improve their quality of life.

The programme will introduce direct referral pathways from hospitals to community services, ensuring continuity of care. Stroke survivors will be categorised into three tiers based on severity, with tailored support provided accordingly. AWWA will offer home therapy services as a bridging solution for those awaiting enrolment into Day Rehab Centres.

Additionally, the initiative will develop an integrated mobile application to support stroke survivors beyond formal rehabilitation. The programme also aims to enhance mental health support, recognising the significant impact of post-stroke depression on recovery.

The Stroke Rehab Ecosystem represents a collaborative effort to address the complexities of post-stroke care, aiming to improve rehabilitation outcomes and overall wellness for stroke survivors in Singapore.
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Digital travel platform and Singapore-headquartered Agoda has launched a new Content Enhancement Tool that leverages artificial intelligence (AI) and machine learning (ML) to enhance the quality of images on its platform. This tool, now operational, aims to provide travellers with clearer and more relevant visuals of over 6 million accommodation options, ranging from boutique hotels in Bangkok to beachfront villas in Bali.

The tool automatically upgrades millions of images by identifying and enhancing low-resolution photos, removing duplicates, and improving image tags. It also ranks images based on clarity and relevance whilst maintaining authenticity. Idan Zalzberg, Agoda’s Chief Technology Officer, stated, “A good picture can say more than a thousand words. Photos are essential to building trust when booking travel.”

The introduction of this tool has already shown positive results, with users spending more time browsing listings and checking room details after interacting with the enhanced visuals. Zalzberg added, “When you know what to expect, you book with more peace of mind and less hesitation.”

Agoda’s platform offers not only accommodation but also 130,000 flight routes and 300,000 activities, all accessible via its website or mobile app. This enhancement is part of Agoda’s ongoing efforts to improve user experience and increase booking confidence.
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The Intellectual Property Office of Singapore (IPOS) has launched IP Week @ SG 2025, themed “Ideas to Assets: Innovating in Times of Change.” The event, now in its 14th year, has attracted 5,000 delegates from over 40 countries, focusing on how intellectual property (IP) and intangible assets (IA) can drive growth and competitiveness.

During the opening ceremony, Dr. Tan See Leng, Minister for Manpower and Minister-in-charge of Energy and Science & Technology, emphasised Singapore’s dedication to enhancing its IP and IA ecosystem. He noted the importance of protecting ideas and fostering collaboration amidst the challenges posed by emerging technologies like generative AI and the current geopolitical climate.

IP Week @ SG 2025 continues to establish itself as a significant global platform for innovation and enterprise. The event facilitates the exchange of ideas and the formation of partnerships among business leaders, innovators, and investors. IPOS is committed to strengthening Singapore’s IA/IP regime, aiding enterprises in unlocking value from their IA, and expanding collaboration with ASEAN and global partners to solidify Singapore’s status as a trusted hub for innovation.

As the event progresses, it is expected to further highlight the role of IP and IA in economic growth, offering insights and strategies for businesses to navigate the evolving landscape.
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Skechers, renowned for its comfort-driven footwear, is bringing back its popular Friends & Family Sale, offering members a 50% discount on regular-priced items from 30 August to 7 September 2025. The sale includes a range of footwear, apparel, and accessories, providing an ideal opportunity for customers to update their wardrobes with stylish and comfortable options.

The sale is exclusive to members of the Skechers Membership Programme, which is free to join and offers year-round benefits such as exclusive discounts, points with every purchase, birthday treats, and early access to new launches. Membership details can be found on the Skechers website.

Highlighted items in the sale include the Skechers GO WALK Max Cushioning Arch Fit – Haptic for men, priced at $89.50 (originally $179.00), and the Skechers Flex Appeal 5.0 – Cruising Thru for women, available for $49.50 (originally $99.00). Both styles are designed with advanced comfort technologies and are machine washable, crafted from 100% vegan materials.

In addition to footwear, the sale features apparel and accessories like the Unisex Skechers Knit Short Sleeve Tee for $17.50 (originally $35.00) and the Skechers Outdoor Fisherman Hat for $12.50 (originally $25.00). These items are designed for comfort and versatility, making them suitable for various occasions.

The sale is available at Skechers stores across Singapore and online, with terms and conditions applying. Certain collections are excluded from the promotion, and sizes are subject to availability.
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The Urban Redevelopment Authority (URA) has initiated a land tender for a site at Bukit Timah Road, marking the first release under the 2H2025 Government Land Sales (GLS) programme. The site is expected to accommodate approximately 340 residential units, with the tender closing on 11 November 2025. This development is part of a broader urban transformation plan for the Newton area, as outlined in the Draft Master Plan 2025.

The Newton area, historically limited in GLS supply, is set for significant changes, with plans for 5,000 homes and new mixed-use developments. The site’s proximity to Newton MRT Interchange offers excellent connectivity, making it attractive to families, especially those with school-going children, due to its closeness to several primary schools. Additionally, amenities such as Newton Food Centre and the Orchard Road shopping belt are nearby.

Justin Quek, CEO of OrangeTee and Deputy Group CEO of Realion, noted that the last residential land parcel in Newton was awarded in 1997. He highlighted the robust demand for luxury homes, as evidenced by the successful launch of UpperHouse at Orchard Boulevard. However, Quek cautioned that the Additional Buyer’s Stamp Duty (ABSD) and increased housing supply might deter some developers. He anticipates 3 to 6 bidders, with top bids ranging from S$1,500 to S$1,600 per square foot per plot ratio.

The tender’s outcome will be closely watched, as it could set a precedent for future developments in the evolving Newton neighbourhood.
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