Industry News

Singapore’s Minister for Defence, Chan Chun Sing, visited Singapore Armed Forces (SAF) personnel in Temburong, Brunei, today. Accompanied by Chief of Army Major-General Cai Dexian and other senior officers, Chan engaged with officer cadets undergoing training in the region. He lauded the SAF personnel for their professionalism and dedication, highlighting the unique training opportunities provided by Brunei’s diverse terrain.

The visit underscored the significance of the Jungle Confidence Course, where cadets, with less than six months of experience, are trained to survive independently in the jungle for nine days. Chan remarked, “Hardly any military send their soldiers with less than six months experience to train in the jungle… speaks volumes of the quality of our training and safety system and our confidence in it.”

The relationship between Singapore and Brunei is marked by a longstanding defence partnership. Beyond the jungle training, both nations’ militaries engage in frequent bilateral exercises, professional exchanges, and cross-attendance of courses. These interactions have bolstered the friendship and professional ties between the two armed forces.

The visit not only highlighted the rigorous training SAF personnel undergo but also reinforced the strong defence ties between Singapore and Brunei, which continue to evolve through mutual cooperation and shared experiences.
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Thomson Medical Group Limited has announced the acquisition of a S$225m Islamic revolving credit facility from Maybank, marking a significant milestone as the Group’s first Islamic financing venture. This facility, secured under a Murabahah Agreement, includes an option to convert into a sustainability-linked facility within 12 months, contingent on meeting specific sustainability performance targets.

The funds from this facility will be utilised to manage existing financial obligations due in October 2025, as well as support working capital, capital expenditure, business acquisitions, and other corporate purposes. Dr Heng Jun Li Melvin, Executive Director and Group CEO of Thomson Medical Group, highlighted the strategic advantage of this facility, stating, “This facility gives Thomson Medical Group greater flexibility in managing our capital structure whilst positioning us to pursue growth opportunities in line with our strategic priorities.”

Maybank, acting as the sole lender and sustainability structuring adviser, expressed pride in collaborating with Thomson Medical Group. Alvin Lee, Country CEO of Maybank Singapore, noted, “This partnership will advance their sustainability journey and diversify their funding base.”

Thomson Medical Group, a prominent healthcare provider in South-East Asia, operates in Singapore, Malaysia, and Vietnam, offering a wide range of healthcare services. The Group’s commitment to sustainability and growth is further underscored by this new financial arrangement, paving the way for future developments in their healthcare services and infrastructure.
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KSH Holdings Limited has announced the successful sale of its 28,900,400 treasury shares, generating net cash proceeds of $8.67m. The shares were sold at S$0.305 each, a 6.44% discount to the previous day’s average price. The placement, managed by Evolve Capital Advisory and Maybank Securities, attracted significant interest from investors including ICH Capital, Ginko-AGT Global Growth Fund, and Lion Global Investors.

The decision to sell the treasury shares was driven by strong demand from both institutional and individual investors, aiming to broaden KSH’s shareholder base and enhance share liquidity. These shares were initially accumulated through KSH’s share buy-back scheme in previous years.

Executive Chairman and Managing Director, Choo Chee Onn, expressed gratitude for the investor confidence, stating, “The interest from institutional funds and individual investors for this Placement demonstrates confidence in KSH’s long-term prospects. We appreciate the unwavering support from our shareholders as we pursue long-term growth.”

KSH Holdings, a prominent construction and property development group in Singapore, has been expanding its business portfolio and geographical presence since its listing on the SGX-ST in 2007. The funds raised from this placement will be allocated towards working capital, supporting the company’s ongoing commitment to enhancing shareholder value and delivering sustainable returns.
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Singapore Post (SingPost) has reported a significant decline in its Q1 revenue for the financial year 2025/26, amounting to S$162.3m, a 23.8% decrease from the previous year’s $213.0m. The drop is largely attributed to a reduction in international deliveries amidst increased market pressure and competition.

Operating expenses also saw a reduction of 22.7%, from S$204.6m to S$158.2m, as the company implemented cost management strategies following the divestment of its Australian business in March 2025. This strategic move was part of SingPost’s efforts to align its cost base with its reduced operational footprint. Consequently, the group’s operating profit fell to S$3.4m from S$8.4m in the previous year.

The postal and logistics segment experienced lower revenue due to declining delivery volumes, with letter mail volume contracting as e-substitution continued to rise. Additionally, both domestic and international eCommerce volumes were affected by competitive pressures. During the quarter, SingPost unwound Quantium Solutions International’s minority cross-holdings with Alibaba, selling QSI’s 17.6% stake in Shenzhen 4PX to Cainiao.

In the property sector, leasing revenue from SingPost Centre remained stable, with an overall occupancy rate of 97.8%. SingPost has also initiated the divestment of 10 HDB shophouses on a sale and leaseback basis, maintaining current post office services.

Looking ahead, SingPost aims to focus on its core Singapore business, streamline operations, and enhance digital capabilities in its domestic delivery services. The company is committed to improving operational efficiency and creating sustainable value for stakeholders.
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Capital World Limited has announced that its wholly-owned subsidiary, Capital City Property Sdn Bhd (CCPSB), has received a Writ of Summons and Statement of Claim from Chong Kim Chuan. The claim, dated 14 August , relates to a Sale and Purchase Agreement for a service suite unit within the Capital City development. The purchaser is seeking a refund of RM286,212.28 for the purchase price and RM41,740.81 in interest paid, totalling RM327,953.09, due to CCPSB’s failure to deliver vacant possession of the unit within the agreed 52-month period from 14 March 2021.

The legal proceedings require CCPSB to respond within 14 days, or the purchaser may proceed with the action and potentially secure a judgement without further notice. Capital World has engaged legal counsel to explore its options and is preparing for a case management session scheduled for 11 September at the Johor Bahru Session Court.

The company has advised shareholders to carefully consider this announcement and any future updates, and to seek professional advice if uncertain about their actions regarding their securities. Further announcements will be made as developments occur.
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Singapore has introduced a pioneering standard, SS 715:2025, to enhance energy efficiency in data centres, marking a significant step in sustainable IT practices. This initiative, launched on 22 August 2025, targets a 30% reduction in energy consumption by optimising IT equipment operations at higher temperatures. The standard is particularly significant as IT equipment typically accounts for 60% of a data centre’s energy use, a figure expected to rise with the increased adoption of Artificial Intelligence.

The SS 715:2025 standard encourages data centre operators to select IT equipment that meets international energy efficiency benchmarks and adopt best practices like workload consolidation and virtualisation. These measures aim to maximise IT equipment utilisation, thereby increasing compute workload without additional energy consumption. Furthermore, the standard specifies that IT equipment should safely operate at temperatures up to 35°C, aligning with Singapore’s Tropical Data Centre standard SS 697:2023, which can yield additional energy savings on cooling systems.

Data centre users can also benefit from the Infocomm Media Development Authority’s (IMDA) Energy Efficiency Grant, which co-funds the purchase of pre-approved energy-efficient IT equipment. Aileen Chia, Deputy Chief Executive of IMDA, emphasised the importance of data centres in supporting Singapore’s digital economy, stating, “This new IT EE standard builds on the progress made following the launch of the Green Data Centre Roadmap.”

The standard, developed with industry experts and academia, is available for purchase online. Industry leaders like GovTech Singapore and Equinix have expressed support, highlighting the standard’s role in advancing sustainability and energy efficiency in the sector.
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Agoda, the digital travel platform, has introduced the Property AMA (Ask Me Anything) Bot, an AI-powered chatbot designed to provide immediate answers to travellers’ hotel-specific queries. This innovative tool aims to streamline the booking process by delivering precise information swiftly, thereby helping users make more informed decisions.

Since its soft launch, the Property AMA Bot has rapidly gained traction, addressing over 30,000 hotel-related questions each day. Travellers frequently visit Agoda to explore accommodation options, compare amenities, and find the ideal stay. However, essential questions like “Is there parking available?” or “What’s the quality of the breakfast?” can often be obscured by extensive descriptions and reviews. The Property AMA Bot, integrated with ChatGPT and live property data, ensures that users receive up-to-date responses, enhancing their confidence in booking decisions.

Previously, Agoda users could contact property owners directly via a messaging system, but response times varied. The new bot offers real-time, reliable answers, available on all Agoda platforms, including desktop, mobile web, and app. Idan Zalzberg, Agoda’s Chief Technology Officer, stated, “The Property AMA Bot reduces uncertainty by answering questions instantly, leading to a smoother, more satisfying booking experience.”

With this launch, Agoda is advancing towards more responsive and user-friendly booking experiences, supporting a seamless journey from browsing to booking. The platform continues to offer a wide range of travel options, including over 5 million holiday properties, 130,000 flight routes, and 300,000 activities, all accessible via Agoda’s website or mobile app.
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Frasers Property Singapore recently hosted the fourth edition of the Frasers Tower Vertical Challenge, bringing together a diverse group of participants to ascend the 39-storey Frasers Tower. Held on 21 August 2025, the event included YMCA youth ambassadors with special needs, local enthusiasts, international tower running athletes, and Singapore Civil Defence Force (SCDF) firefighters. For each participant, Frasers Property donated $30 to the Goh Chok Tong Enable Fund, culminating in a total contribution of $15,000.

The event, supported by the Towerrunning Association of Singapore, Health Promotion Board, and Webull Singapore, highlighted the power of community and inclusivity. Jack Lam, Senior Director, Commercial, Frasers Property Singapore, stated, “The Frasers Tower Vertical Challenge has always been more than just a race up an office tower—its true purpose is to foster inclusivity and promote community togetherness.”

YMCA youths with special needs participated for the second consecutive year, supported by volunteers and SCDF firefighters. Their involvement underscores the commitment to building an inclusive society, aligning with the Government’s Enabling Masterplan 2030. Eng Soon Khai, Deputy CEO of SG Enable, noted, “The Vertical Challenge provides persons with disabilities a platform to demonstrate their abilities and determination.”

The event also featured a national championship segment, part of the Towerrunning Tour 2025, with top athletes competing in the Singapore Championship and Open Challenge. Tan Whee Boon, an SG Enable iChamp, participated in the relay team, completing the final two levels. “It is truly a great experience, and it creates wider awareness on inclusivity through sports,” he remarked.

The Frasers Tower Vertical Challenge not only celebrated athleticism but also reinforced the importance of inclusivity and community spirit.
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CGS International Securities Singapore recently hosted its second Makan & Market Talk, focusing on the robust outlook for Singapore’s construction sector. The event, held on 22 August, brought together industry leaders, investors, and experts to discuss the ongoing construction upcycle and emerging opportunities. Key topics included the impact of mega-projects, sustainability initiatives, and technological advancements on the industry.

The panel, featuring experts such as Malcolm Koo, CEO of CGS SG, and Song Seng Wun, Economic Adviser at CGS SG, highlighted the sector’s resilience. Song noted, “Demand is bursting out of our ears,” emphasising the importance of resource maximisation. Despite global economic influences, Singapore’s strategic planning in labour and infrastructure is expected to sustain growth.

Research Analyst Natalie Ong pointed out that construction stocks have surged 112% over the past year, outpacing the Straits Times Index. She stated, “With historical PEs still only around 12, there is room for valuation growth.” Major projects like Changi Airport Terminal 5 and MRT expansions are driving demand, expected to peak in 2025 and remain strong through 2029.

Sustainability is also a key focus, with Tan Yoong Heng of Arup and the Building & Construction Authority highlighting Singapore’s green economy vision. Projects such as the Changi East Urban District are integrating circular economy practices and climate resilience.

Industry leaders Goh Wee Ping and Lim Thiam Hooi discussed how companies are leveraging technology, such as drones and AI, to enhance productivity amidst labour challenges. Despite cost pressures, the emphasis on quality and sustainability offers a competitive edge.

CGS International plans to continue its Makan & Market Talk series, providing fresh insights and engagement opportunities.
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Lazada has teamed up with POP MART to host the POP TOY SHOW Singapore 2025, taking place from 22 to 24 August at the Sands Expo & Convention Centre. This partnership aims to highlight local and regional creators whilst attracting collectors from across Southeast Asia through a blend of exclusive offline showcases and online experiences.

As part of this collaboration, Lazada will introduce its first regional Super Brand Day (SBD), featuring new intellectual property (IP) series such as Twinkle Twinkle and SKULLPANDA. Fans can also expect limited-time releases of popular IPs like The Monsters and Crybaby. During SBD, shoppers will enjoy storewide discounts of up to 8% and receive exclusive, limited-edition gifts with purchases, including items like the Hirono badge and Crybaby notebook.

The partnership underscores Lazada’s commitment to connecting creators, collectors, and communities, further expanding the art toy movement in the region. A Lazada spokesperson expressed enthusiasm for the collaboration, stating, “By making exclusive IP releases and experiences more accessible, we hope to connect even more fans in Singapore and across the region to this growing cultural movement.”

Singapore will serve as the exclusive host city for the POP TOY SHOW outside China in 2025 and 2026, thanks to a three-year agreement between POP MART and the Singapore Tourism Board. This collaboration not only strengthens Singapore’s reputation as a hub for pop culture but also demonstrates Lazada’s dedication to supporting creativity and cross-industry partnerships across Southeast Asia.
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