Industry News

Huttons Asia has commented on the upcoming sale of the second executive condominium (EC) site at Woodlands Drive 17, predicting a stable bidding environment. The site, located within a five-minute walk of Woodlands South MRT station on the Thomson-East Coast Line (TEL), is anticipated to draw 4 to 6 bidders with top bids ranging from $700 to $800 per square foot per plot ratio (psf ppr), according to Huttons Asia CEO Mark Yip.

The location offers convenient access to key areas, being one train stop from Woodlands Regional Centre and two stops from the RTS link. The TEL provides connectivity to Orchard, the Central Business District, and Changi Airport. The area also boasts proximity to three primary schools within a 1km radius, making it attractive for families. Additionally, an estimated 6,500 Housing Development Board (HDB) flats completed between 2016 and 2018 could serve as a potential pool of upgrading demand for the EC.

Woodlands Regional Centre is undergoing significant transformation, with the RTS expected to be operational by 2027 and growing interest in the Johor-Singapore Special Economic Zone. The relocation of the Singapore Sports School to Kallang is also expected to free up more land for development in Woodlands.

Recent EC launches have seen strong take-up rates, ranging from 53% to 90%, driven by a stable pool of HDB upgraders. Developers are keen to tap into this market segment. Huttons suggests that revising the income ceiling upwards could further boost the EC market by expanding the potential pool of buyers. The previous tender along Woodlands Drive 17 was sold for $782 psf ppr, and Huttons expects the bid price for this second site to remain around the same level.

The Asia Climate Philanthropy Advisory (ACPA), the first regional platform dedicated to climate giving, has been launched to address Asia’s significant climate finance gap. The initiative, backed by prominent foundations such as the Tara Climate Foundation and the Children’s Investment Fund Foundation, seeks to mobilise philanthropic capital and enhance strategic climate giving in the region.

The launch event, held in Singapore, was officiated by Ravi Menon, Singapore’s Ambassador for Climate Action. He emphasised the critical role Asia plays in global climate efforts and the need for innovative partnerships to bridge the finance gap. The ACPA aims to simplify and make climate philanthropy more impactful by addressing barriers such as complexity and collaboration gaps.

Laura Lee, the newly appointed CEO of ACPA, stated, “Our mission is to make climate giving in Asia simpler, more strategic, and more impactful.” The initiative plans to leverage regional insights and networks to empower Asian philanthropists to contribute effectively to climate solutions.

Asia faces an annual $815b finance gap, with the region contributing only 12% of global climate philanthropy despite generating nearly two-thirds of global wealth. The ACPA intends to unlock new forms of capital, including philanthropy, to supplement public and private finance, thereby accelerating Asia’s climate transition.

The initiative builds on two years of consultations with philanthropists and non-profit organisations across Asia. It aims to provide the guidance and networks necessary for philanthropists to confidently fund solutions tailored to the region’s needs. As Jamie Choi, CEO of Tara Climate Foundation, noted, “This Advisory is a bold, Asia-first step to close the gap.”

The Housing Development Board (HDB) has launched a government land sales (GLS) tender for an executive condominium (EC) site at Woodlands Drive 17, expected to yield approximately 560 new units. This follows the award of a previous EC site in the same area in August, which set a record land rate of $782 per square foot per plot ratio (psf ppr).

Located near the Woodlands South MRT station, several schools, and the Woodlands Health Campus, the site is anticipated to draw significant interest from developers. Wong Siew Ying, Head of Research and Content at PropNex, noted that the elevated land price of the first site may influence bidding strategies, as developers balance market expectations with affordability concerns. Buyers of new EC units face a 30% mortgage servicing ratio and a monthly household income ceiling of $16,000.

City Developments (CDL), which secured the first Woodlands Drive 17 EC site, may bid again to maintain its market position. CDL’s previous winning bid of $782 psf ppr surpassed the former record of $768 psf ppr for an EC site at Tampines Street 95.

With a significant number of HDB flats in Woodlands and ongoing interest from first-time buyers and HDB upgraders, the upcoming EC projects are expected to be well-received. The area has not seen new EC supply since the Northwave EC in 2015 and Bellewoods EC in 2013, potentially creating pent-up demand.

PropNex projects the tender could attract four to six bids, with the top bid ranging between $770 and $780 psf ppr.

Addlly AI, a prominent generative AI innovator and recent Silver winner at the ASEAN Digital Awards 2025, has announced its integration into the HP Garage 2.0 programme. This strategic partnership is set to accelerate the rollout of Addlly AI’s enterprise-grade Generative Engine Optimisation (GEO) suite, designed to enhance brand visibility in AI-driven search engines like ChatGPT, Perplexity, and Gemini.

The collaboration with HP Garage 2.0 will provide Addlly AI with the necessary resources and strategic support to scale its offerings to corporate clients across Asia and key global markets. The GEO suite, which has become Addlly AI’s best-performing product, allows enterprise marketing teams to audit and optimise content for AI-powered discovery, ensuring efficiency and consistency across multiple markets.

Tina Chopra, CEO and Co-Founder of Addlly AI, stated, “Enterprise marketing teams are realising that AI visibility is the new frontier for brand discovery.” The GEO suite not only audits brands for AI-driven search engines but also assists in creating content across various marketing touchpoints.

The platform’s features include intelligent recommendations, autonomous AI agents, and consistent brand voice across channels. Ronie Ganguly, Co-Founder of Addlly AI, noted, “The response from corporate clients has exceeded our expectations.”

Addlly AI’s partnership with HP Garage 2.0 builds on its existing collaborations with industry giants like Microsoft, Meta, and NVIDIA. As generative AI continues to transform consumer engagement, Addlly AI is positioned at the forefront of this digital evolution, making AI-powered marketing solutions accessible and effective for large organisations.

Silicon Box, a leader in semiconductor packaging, has announced the shipment of 100 million units from its flagship facility at Tampines Wafer Park, Singapore. This achievement underscores the company’s capability to scale its advanced panel-level packaging (PLP) technology, which is crucial for the growing demands of artificial intelligence (AI) and high-performance computing (HPC) applications.

The state-of-the-art facility, which began mass production in late 2023, is the largest of its kind globally. Silicon Box’s proprietary technology addresses performance, scalability, and cost challenges in traditional packaging schemes. “Achieving breakthrough results in production at high volume is a significant milestone for Silicon Box,” said Mike Han, Head of Business at Silicon Box.

The company has exceeded its previous industry-leading yield record of 99.7% at wafer scale, demonstrating its ability to execute high-volume production with high yield. “This shipment milestone demonstrates our team’s capability to execute advanced panel-level packaging at high volume,” shared JH Yee, Head of Operations.

Silicon Box’s Tampines facility achieved ISO certifications for quality, environmental, and safety management, reflecting its commitment to excellence. The company plans to expand its manufacturing capacity with a second facility in Novara, Italy, expected to begin production in 2028. This expansion aims to establish a full semiconductor value chain in Europe, serving sectors such as AI, HPC, automotive, and robotics.

As the only independent semiconductor packaging company capable of enabling chiplet architectures at panel scale, Silicon Box continues to deliver industry-leading results for its customers, offering advanced packaging solutions at a low cost.

Private new home sales in Singapore fell to a nine-month low in September, with developers selling only 255 units, an 88% decrease from August’s 2,142 units. This decline is attributed to the absence of new project launches during the Lunar Seventh Month, traditionally a quieter period for property transactions. However, a swift recovery is expected in October, as the first launch of the month has nearly sold out.

The Rest of Central Region (RCR) led September’s sales, with 125 units sold, although this was a decrease from the 476 units sold in August. Grand Dunman and Tembusu Grand were the most popular projects in the RCR, selling 24 and 12 units, respectively. The upcoming launches of Penrith and Zyon Grand are expected to boost RCR sales in October.

In the Outside Central Region (OCR), sales plummeted by 93%, with only 84 units sold. Canberra Crescent Residences was the top-selling project, moving 28 units. The anticipated launch of Faber Residence is expected to drive OCR sales in October due to its attractive pricing.

Core Central Region (CCR) sales also saw a significant drop, with 46 units sold compared to 513 in August. River Green and The Robertson Opus were the top sellers. However, CCR sales are predicted to rise in October following the successful launch of Skye at Holland, where 99% of units were sold.

Wong Siew Ying, Head of Research & Content at PropNex Realty, noted, “The primary market took a breather in September after an exhilarating August. The lull will be short-lived, and we expect developers’ sales to rebound significantly in October.” With four new launches offering 2,233 new private homes, the market is poised for a strong recovery.

The Public Transport Council (PTC) has announced a 5% increase in public transport fares, effective from 27 December 2025. This decision follows the council’s annual fare review exercise and is slightly lower than the initially expected 6% hike for the financial year 2026. The increase is also below the maximum allowable rise of 14.4% for 2026, with 9.4% of the hike deferred to future years.

ComfortDelGro Corporation Ltd, through its 74% subsidiary SBS Transit, is set to benefit significantly from this fare adjustment according to DBS Report. The company is projected to see an annual revenue increase of $128m (S$176m), with 20% of this amount allocated to the Public Transport Fund. This fund aims to support lower-income commuters by offsetting the impact of fare increases.

The fare hike is expected to result in an estimated incremental net profit increase of $85m (S$117m) for SBS Transit in the financial year 2026 compared to 2025. This translates to a $63m (S$87m) increase at the ComfortDelGro level, assuming all other factors remain constant.

The National University Hospital (NUH) and Ruijin Hospital, Shanghai Jiao Tong University School of Medicine (RJH) have inaugurated the Singapore-Shanghai Medical Innovation Centre (SSMIC) to spearhead advancements in healthcare. Launched on 15 October during the 6th Singapore-Shanghai Comprehensive Cooperation Council meeting in Shanghai, the centre aims to foster collaboration in cell and gene therapy and orthopaedics.

The SSMIC is the first initiative stemming from a Memorandum of Understanding signed in 2024, aimed at establishing a framework for clinical cooperation. Co-chaired by Aymeric Lim, CEO of NUH, and Ning Guang, President of RJH, the centre will focus on developing proof-of-concept methodologies and conducting translational research.

Initial projects will include clinical trials for a novel Chimeric Antigen Receptor (CAR) T-cell therapy, which uses a patient’s immune system to target cancer cells. This personalised treatment aims to provide effective solutions for patients unresponsive to first-line treatments. In orthopaedics, the centre will explore 3D printing for musculoskeletal tumour resection and reconstruction, enhancing surgical outcomes and recovery.

The centre is designed to be a dynamic platform for ongoing collaboration. “In the face of ever-evolving health challenges, it is paramount that we continuously innovate,” said Aymeric Lim. Ning Guang added, “With support from Shanghai and Singapore, I have faith we will succeed.”

The SSMIC represents a significant step in advancing patient care, with plans to expand its scope and ensure a continuous pipeline of clinical breakthroughs.

COSCO SHIPPING International (Singapore) Co., Ltd has announced a renounceable, non-underwritten rights issue of 2.2 billion new ordinary shares. This significant move aims to bolster the company’s capital base and support its ongoing business operations. The announcement was made on 15 October 2025 and has been detailed on the company’s Investor Relations website.

The rights issue allows existing shareholders the opportunity to purchase additional shares, potentially increasing their stake in the company. This strategy is often employed by companies to raise funds without incurring debt, thereby strengthening their financial position. The proceeds from this rights issue will be utilised to further the company’s strategic initiatives and operational needs.

Investors are encouraged to visit the COSCO SHIPPING International Singapore Investor Relations website for more detailed information regarding the rights issue and its implications. The company has not provided specific details on the allocation or pricing of the new shares at this time.

This development is a crucial step for COSCO SHIPPING as it seeks to enhance its financial flexibility and support its growth objectives. The rights issue reflects the company’s commitment to maintaining a robust capital structure whilst providing value to its shareholders.

Six national payment networks from five ASEAN countries have signed a Memorandum of Understanding (MoU) to establish a common global standards body for non-card instant retail payments. The George Town Accord, signed on 9 October 2025 in Malaysia, aims to create seamless, secure, and interoperable cross-border transactions for over 538 million people.

The signatories include Payments Network Malaysia (PayNet), Network for Electronic Transfers (NETS) from Singapore, National Payment Corporation of Vietnam (NAPAS), BancNet from the Philippines, and Indonesia’s Artajasa and Rintis. This collaboration marks the launch of the Next50 Common Standards project, which seeks to harmonise QR payments, account-to-account transfers, e-wallets, and other mobile-based digital payment methods using technologies like Near Field Communication (NFC), biometrics, and artificial intelligence (AI).

Farhan Ahmad, Group CEO of PayNet, highlighted the importance of the initiative, stating, “Project Next50 is our answer. This represents domestic payment networks’ commitment to shared ownership, practical cooperation, and strategic alignment in a rapidly evolving payments industry.”

Lawrence Chan, Group CEO of NETS, remarked that the MoU is a significant step towards ASEAN’s seamless payment connectivity and interoperability, enhancing the region’s digital economy.

The Next50 project aims to link domestic payment networks globally whilst respecting each nation’s payment sovereignty. It invites payment networks worldwide to join in advancing interoperable and inclusive cross-border payments. The immediate focus will be on streamlining technical and operational standards, including dispute resolution and fraud prevention, to establish a safer global payment ecosystem.