Industry News

Singapore’s Consumer Price Index (CPI) data for July has shown a continued easing of inflation, reinforcing the possibility of the Monetary Authority of Singapore (MAS) loosening its monetary policy. Market Analyst Josh Gilbert from eToro highlighted that the cooling inflation trend, coupled with anticipated moderated growth in the latter half of the year, supports the case for further easing in October as a precaution against potential growth risks.

Gilbert noted that whilst the MAS held its stance in July, the recent softer inflation figures suggest that inflation is no longer the primary concern it once was. “The conversation is shifting from bringing inflation under control to supporting growth,” he stated, indicating a potential change in focus for the central bank.

The analyst also drew parallels with the US Federal Reserve’s cautious approach, which has remained on hold this year whilst assessing tariff impacts. Gilbert pointed out that MAS has already eased monetary policy twice earlier this year, suggesting that allowing time for these measures to take effect whilst awaiting further clarity is a sensible strategy. However, he emphasised that the latest data makes it increasingly challenging for MAS to justify inaction.

As Singapore navigates these economic conditions, the upcoming decisions by MAS will be closely watched, with implications for both domestic growth and the broader economic landscape.
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RHB Bank’s latest Global Economics and Market Strategy Report, authored by Barnabas Gan, Group Chief Economist and Head of Market Research, reveals that Singapore’s inflation remains subdued, prompting the bank to maintain its full-year headline and core inflation forecasts at 1.2% and 0.9%, respectively, for 2025. The report anticipates that the Monetary Authority of Singapore (MAS) will likely keep its policy parameters unchanged in the upcoming October review, although there is a possibility of adjustments to the Singapore dollar nominal effective exchange rate (S$NEER) slope and band width.

In July 2025, Singapore’s headline Consumer Price Index (CPI) slowed to 0.6% year-on-year, down from 0.8% in June, falling short of RHB’s and Bloomberg’s estimates of 0.8%. Core inflation also edged lower to 0.5% year-on-year from 0.6% in June. These figures highlight the benign inflationary environment in Singapore, which supports the bank’s decision to maintain its forecast.

Gan’s report suggests that whilst the MAS is expected to hold its current policy stance, there remains a possibility for the S$NEER slope to flatten or the band’s width to widen from the current perceived +/- 2.0%. This cautious approach reflects the ongoing monitoring of economic conditions and inflationary pressures.

As Singapore navigates through the rest of 2025, the subdued inflation rates provide a stable backdrop for economic planning and policy adjustments. The upcoming MAS policy review in October will be closely watched for any potential changes in response to evolving economic indicators.
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Epicsoft Asia, an indirect subsidiary of GCL Global Holdings, has completed its compulsory acquisition of Ban Leong Technologies Limited, leading to Ban Leong’s delisting from the Singapore Exchange on 26 August 2025. This move marks a significant milestone for Ban Leong, a leading distributor of technology products across Asia for over 30 years.

Ban Leong, known for distributing IT accessories, gaming components, and smart IoT devices, has been an authorised distributor for over 50 globally recognised brands, including Razer, Nvidia, and Samsung. The acquisition by Epicsoft Asia is expected to unlock new opportunities and fuel innovation, according to Ban Leong’s Managing Director, Ronald Teng. “This acquisition marks a significant milestone in our 30-year journey, enabling us to leverage GCL’s global ecosystem expertise and distribution network to accelerate growth,” Teng stated.

Sebastian Toke, Group CEO of GCL, expressed enthusiasm for the acquisition, highlighting the potential synergies and expanded sales channels. “Today we celebrate the completion of the entire deal and officially welcome Ban Leong’s talented team to the GCL family,” Toke said. He added that the combination of strengths is expected to result in significant synergies, including operational efficiencies and new revenue streams.

The acquisition aligns with GCL’s vision to build a fully integrated gaming ecosystem across Asia, with plans to introduce branded gaming devices and expand B2C offerings. As the companies move forward, they aim to enhance market positioning and generate value for customers through innovation and collaboration.
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SATS, a leading food solutions provider and global aviation gateway services leader, reported a net profit of $51.8m (S$70.9m) for the first quarter of the fiscal year 2026, marking a 9.1% increase from the previous year. The company’s revenue rose by 9.9% to $1.1b (S$1.51b), bolstered by growth in both its food solutions and gateway services segments.

The company’s cargo volume growth outpaced the industry average for the seventh consecutive quarter, with a 10.4% year-on-year increase. This performance was attributed to factors such as contract renewals with Singapore Airlines and increased e-commerce air cargo from China and Hong Kong to the US.

SATS’ management remains optimistic about future growth, citing strong customer relationships and a robust pipeline of contract negotiations. Recent additions to its customer portfolio include Cathay Pacific, Emirates, Riyadh Air, and Turkish Airlines. The company is also working on a capital return enhancement strategy, expected to be announced later this year.

Despite near-term tariff volatility, UOB Kay Hian Research maintains a “Buy” recommendation with a revised target price of $2.6 (S$3.52), reflecting confidence in its long-term growth prospects. The company continues to reduce its net gearing, which stood at 64.4% at the end of Q1 FY26, down from 66.6% at the end of FY25.
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Rex International Holding Limited has announced that its subsidiary, Lime Resources Germany GmbH, has received approval for its Main Operating Plan for the Steig Field from the Mining Authority of Baden Württemberg. The approval, granted on 18 August 2025, allows Lime Resources to proceed with development plans, including drilling up to seven wells and installing testing facilities, with operations potentially starting in the second half of 2026.

The Steig Field, first tested in the 1950s, showed promising results in 2019 when an appraisal well confirmed the presence of hydrocarbons. Independent assessments estimate 1.6 million barrels of oil equivalent (mmboe) in the Meletta Formation and 12 mmboe in the Pechelbronnerschichten reservoir, with additional prospective resources deeper in the structure.

The approval is valid until 31 May 2027, during which Lime Resources will also need to secure additional permits, particularly concerning environmental protections. The company is negotiating for a land plot near Weingarten, Karlsruhe, for the production site.

Roel Huneker, Deputy Managing Director of Lime Resources Germany, expressed satisfaction with the approval, highlighting the support from the Mining Authority. Lars B. Hübert, Managing Director of Lime Resources Germany, emphasised the company’s commitment to adhering to strict environmental regulations whilst advancing their production plans.

This development marks a significant step for Lime Resources, aligning with their strategy to explore and produce hydrocarbons efficiently and sustainably. Test production from Steig is anticipated to commence in the first half of 2027.
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J5 Productions, a Singapore-based technical production and media equipment rental company, is setting new standards in live event execution with the integration of Sennheiser’s EWDX digital wireless systems. Founded in 2010 by Justin Tan, the company has evolved from a one-man operation to a team capable of handling mid to large-scale MICE events and arts festivals.

Central to J5 Productions’ success is its partnership with Sennheiser, which has bolstered its wireless inventory with the addition of 24 channels of EWDX in late 2023, followed by 16 more in 2024. “It’s an extremely versatile digital all-rounder that performs equally well in conference and performance settings,” said Justin Tan, Founder and Managing Director of J5 Productions.

The EWDX system’s intuitive design, including features like an e-ink display and Bluetooth syncing, has proven invaluable. The e-ink display retains information even when powered off, preventing confusion during large conferences. Additionally, the Smart Assist app allows technicians to control the system remotely, enhancing workflow efficiency.

J5 Productions has successfully deployed the EWDX system at various events, including a large-scale conference with eight stages and over 100 microphone channels. The system’s Link Density Mode and equidistant channel spacing simplify frequency coordination, crucial in environments with multiple AV vendors.

The use of rechargeable batteries in the EWDX system aligns with J5 Productions’ commitment to sustainability, significantly reducing battery waste. Justin Tan emphasised the importance of Sennheiser’s customer service, noting their responsiveness and support as key to their ongoing partnership.
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Project 95 (P95) Basketball Academy and Limited Edt have unveiled Singapore’s first art-led tribute to the late Kobe Bryant, marking Mamba Day 2025 with a unique blend of art and sport. Held at P95, Singapore’s pioneering tech-powered basketball academy, the event featured a striking aluminium sculpture capturing the essence of Bryant’s Mamba Mentality—resilience, discipline, and excellence.

The tribute, which took place at AiRENA, Singapore’s first AI-enabled sports enterprise, underscores P95’s commitment to youth development through both performance and purpose. Alan Lim, Director of P95, emphasised the academy’s focus on character and skill, stating, “The Mamba Mentality is about pushing past your limits with heart and purpose—values we instil in every player.”

Limited Edt, a leading trainer and streetwear institution in Singapore, partnered with P95 for this initiative. Mandeep Chopra, Founder and Managing Director of Limited Edt, remarked, “Kobe Bryant was more than a player. He was a symbol of drive and integrity.”

The day-long event included a showcase of Kobe memorabilia from private collections, a parent-child basketball game, and a special trainer sale featuring iconic Kobe designs. Attendees also received exclusive “Black Mamba Day 2025” cards.

Artist Jahan Loh, who created the sculpture, noted, “Kobe stood at the intersection of sport, style and spirit. This was exactly what I wanted to encapsulate through this piece.”

Through this collaboration, P95 and Limited Edt aim to foster a deeper appreciation for Kobe Bryant’s legacy, merging sports, art, and values in a meaningful tribute.
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Singapore-based Agoda has unveiled a selection of Asia’s most cat-friendly destinations, catering to feline enthusiasts seeking unique travel experiences. From Taiwan to Thailand, these locations promise memorable encounters with cats amidst picturesque settings.

Houtong Cat Village in Taiwan, once a mining village, has transformed into a haven for cat lovers. Adorned with cat-themed decorations and cafes, visitors can enjoy leisurely strolls whilst interacting with the friendly feline residents. Similarly, Jiufen, a charming mountain town in Taiwan, offers scenic views and tea houses alongside its resident cats, providing a delightful travel experience.

In Malaysia, Kuching, known as the City of Cats, features cat statues and a cat museum, immersing visitors in a feline-centric environment. Meanwhile, Tokyo’s Gotokuji Temple, the birthplace of the Maneki-neko or beckoning cat, is filled with thousands of cat statues believed to bring good luck, making it a fascinating stop for cat enthusiasts.

Bangkok’s Si Yaek Huatakhe Cafe & Guesthouse offers a unique experience with cat boat tours through the canals, combining sightseeing with feline companionship. Some tours also focus on environmental efforts, appealing to cat lovers who care about sustainability.

Jun Dong, Associate Vice President at Agoda, stated, “Every cat lover deserves a pawsome adventure.” Agoda offers over 6 million holiday properties, 130,000 flight routes, and 300,000 activities, ensuring travellers can easily plan their next cat-themed adventure.
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Agile Labs, a leading software innovation company based in Singapore, has unveiled Southeast Asia’s first AI Risk Matrix Assessment specifically designed for enterprise software projects. This pioneering tool aims to address the significant challenge of project failures, with 60% to 70% of enterprise software projects reportedly failing due to unclear requirements and unmanaged risks.

The AI Risk Matrix Assessment leverages advanced AI integration to provide a proactive framework for identifying, quantifying, and mitigating potential risks before any code is written. This approach allows project teams to anticipate complications and plan strategically, thereby enhancing decision-making from the outset and reducing the likelihood of costly rework.

Agile Labs is renowned for its expertise in custom web and mobile app development across Android and iOS platforms. The company is committed to agility, innovation, and quality, working closely with enterprises to develop scalable, user-centric digital products. Their portfolio includes bespoke software systems and integrated AI solutions, enabling clients to transform operations and maintain a competitive edge in the digital landscape.

The introduction of the AI Risk Matrix Assessment underscores Agile Labs’ dedication to empowering businesses with intelligent tools that enhance clarity and control. As digital transformation accelerates across the region, Agile Labs positions itself as a trusted partner for companies seeking to build smarter, more resilient enterprise software solutions.
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The #RevUpSG fan favourites are making a comeback as Singapore GP announces a series of Formula 1-themed activities leading up to the Singapore Airlines Singapore Grand Prix 2025. With just over a month until the event, residents can look forward to pop-up festivals and the unique opportunity to walk down the Formula 1 Pit Lane.

Fans will be treated to a variety of activities at the #RevUpSG pop-up festivals, scheduled for 6 to 7 September at Kampung Admiralty and 20 to 21 September at One Punggol. These festivals will feature race simulators, reaction games, and a remote-control car game by beIN SPORTS. Attendees can also view a Singapore Grand Prix-inspired LEGO display and preview official merchandise, with chances to win prizes.

A highlight of the festivals is the screening of Singapore’s feature in Netflix’s Formula 1: Drive to Survive Season 7, offering insights into the race through the eyes of drivers like Alex Albon and Charles Leclerc. Additionally, live screenings of the Italy and Azerbaijan Grands Prix will be hosted by beIN SPORTS.

Exclusively at Kampung Admiralty, Singapore Citizens and Permanent Residents can purchase an SG60 bundle, which includes a Friday Zone 4 Walkabout ticket and limited-edition memorabilia, available only on 6 September.

The Thursday Pit Lane Experience, set for 2 October, will allow 4,500 Singapore residents to explore the Formula 1 Pit Lane and view team garages before the race weekend. Tickets for this experience will be distributed via a ballot opening on 25 August.

These initiatives aim to engage the community and build excitement as Singapore prepares to host the world-renowned night race at the Marina Bay Street Circuit.
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