Industry News

Yinson GreenTech’s marinEV and Norway’s Blue Ctrl AS have announced a collaboration to launch the X-Connect Platform in Singapore, aiming to revolutionise ship automation and energy management. The platform, developed by Blue Ctrl, offers real-time data insights crucial for optimising energy use and enhancing vessel performance.

The collaboration signifies a significant step for Blue Ctrl in the Singapore market, combining the expertise of two industry leaders committed to innovation. The X-Connect Platform is designed to help Yinson GreenTech maintain its competitive edge by improving vessel efficiency and reducing operational costs.

Jan-Viggo Johansen, Managing Director of marinEV, Yinson GreenTech, emphasised the importance of digital tools in advancing marine solutions, stating, “Blue Ctrl’s platform adds valuable capabilities that help us optimise performance and reinforce our vision for a safe, smart and efficient maritime future.”

Arne Dybvik, Managing Director of Blue Ctrl AS, expressed enthusiasm about the partnership, noting, “Together, we will provide the tools they need to achieve greater efficiency, reduce costs, and improve vessel performance.”

This partnership is poised to deliver cutting-edge technology to the Singapore maritime market, potentially setting new standards for efficiency and sustainability in the industry. As the collaboration progresses, it is expected to bring further advancements in ship automation and energy management solutions.
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Stoneweg Europe Stapled Trust (SERT) is poised for its next growth phase, maintaining a “buy” recommendation with a target price of EUR1.90, reflecting a 23% upside, according to an RHB report.

The trust’s first half of 2025 performance aligns with expectations, and with stabilising interest costs and improved operations, a distribution per unit (DPU) turnaround is anticipated in the financial year 2026. The trust’s recent investment in its sponsor’s data centre fund is expected to enhance net asset value (NAV), a potential not yet fully recognised by the market.

Trading at an attractive 0.8 times the forecasted price-to-book value for 2025, SERT is well-positioned to benefit from potential interest rate cuts, which could reduce its trading discount. Analyst Vijay Natarajan noted, “There are also more of such sponsor-led growth opportunities ahead,” highlighting the trust’s strategic direction.

This development is significant as it underscores SERT’s commitment to leveraging sponsor-led opportunities to drive growth. The investment in the data centre fund is particularly noteworthy given the increasing demand for data infrastructure, which could lead to substantial NAV appreciation.

Looking forward, SERT’s strategic investments and operational improvements suggest a promising trajectory, with further growth opportunities on the horizon. As the market begins to recognise the trust’s potential, SERT could see a narrowing of its trading discount, making it an attractive proposition for investors seeking growth in the European real estate sector.
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Artisan 8 has successfully sold 11 residential and five commercial units, marking a significant achievement in its recent project launch. This development is anticipated to be the last freehold project in the Rest of Central Region (RCR) until at least 2027, according to Huttons Data Analytics. The absence of upcoming freehold projects in the RCR has heightened interest in Artisan 8.

The development’s pricing strategy has been a key factor in its success. Artisan 8 offers units starting at $2,100 per square foot (psf), which is notably lower than the prices of recently completed resale projects like JadeScape, which average over $2,300 psf. In comparison, other projects in the region are priced at more than $2,400 psf for 99-year leases and $2,900 psf for freehold or 999-year leases. This competitive pricing provides buyers with a “very safe entry price,” according to Mark Yip, CEO of Huttons Asia.

In addition to its pricing, Artisan 8’s location adds to its appeal. Situated within 1km of Ai Tong Primary School and Catholic High, and just 300m from the Upper Thomson MRT station, the development offers convenient access to key areas such as Johor, Orchard, the Central Business District, and Changi Airport.

As the last freehold project in the RCR for the foreseeable future, Artisan 8’s successful sales highlight the demand for competitively priced, well-located properties in Singapore’s dynamic real estate market.
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BRC Asia Ltd, a leading supplier in Singapore’s steel market, has reported a 24% year-on-year increase in net profit for the third quarter of 2025, according to a recent report by CGS International. This growth aligns with the company’s forecast, reflecting its strong position in the construction sector, which is experiencing a significant upcycle. The company holds an estimated 55-60% market share in Singapore, benefiting from increased demand for steel in major projects, including the Changi Airport Terminal 5.

The company’s revenue for the third quarter rose by 7% year-on-year, despite a 14% drop in steel prices, indicating a substantial increase in sales volume. BRC’s gross profit margin improved from 8.5% in the previous year to 11% this year, attributed to economies of scale. The company is a key supplier for Housing Development Board (HDB) build-to-order projects, with a robust pipeline of 58,000 units launched since 2023 and plans for an additional 35,000 units by 2027.

In a strategic move, BRC completed the acquisition of a 55% stake in Southern Steel Mesh on 14 August 2025. This acquisition is part of a restructuring effort aimed at modernising machinery and processes to enhance competitiveness. The first phase of this project is underway and expected to conclude by March 2026.

BRC’s management remains optimistic, reiterating an “Add” recommendation with a forecasted dividend yield of 6.3% for FY26. The company’s order book, bolstered by recent contract wins, stands at S$2 billion, positioning it well for sustained growth. However, potential risks include economic slowdowns and regulatory changes affecting its predominantly foreign workforce.
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UMS Integration Ltd, a Singapore-based semiconductor company, has announced a promising growth trajectory following its secondary listing on the Main Market of Bursa Securities on 1 August 2025. The company’s shares debuted at RM5.00, closing at RM5.50, reflecting an 8.5% premium over its Singapore Exchange (SGX) price. This move is expected to broaden UMS’s investor base and enhance its market valuation, according to a CGS International report.

The company’s financial performance in the first half of 2025 has been robust, with a 14% year-on-year increase in revenue to S$125 million, despite geopolitical tensions and US trade tariffs. Net profit also rose by 5% to S$20.1 million. UMS’s management attributes this success to strengthened production capabilities and new product introductions from a key customer in Malaysia. The company is optimistic about future growth, particularly with the expansion of its facilities in Penang, which positions it well to benefit from the global semiconductor supply chain shift towards Malaysia and Singapore.

UMS has resumed coverage with an “Add” call, setting a target price of S$1.87, based on a projected net profit growth of 11.1% to 19.4% from FY25 to FY27. The company also offers a dividend yield of 3.70% over the same period, which is expected to support its share price. Potential catalysts for re-rating include securing additional customers and orders for its Penang plant, as well as a resurgence in aeroplane component orders.

UMS’s strategic moves, including its secondary listing and expansion in Malaysia, are set to enhance its competitive edge and investor appeal. However, risks such as potential sales losses in China and slower-than-expected business progress with new customers remain.
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Singapore-listed ISDN Holdings Limited has announced the acquisition of a 51% stake in PT Funda Konstruksi Engineering, a move aimed at enhancing its hydropower capabilities in Indonesia. The acquisition involves 25,500 shares at a nominal value of IDR1,000,000 each, totalling IDR25.5b (approximately S$2.0m).

PT Funda, established in February 2024, specialises in end-to-end hydropower services, including engineering, procurement, and construction (EPC) as well as operations and maintenance (O&M). This acquisition complements ISDN’s existing renewable energy operations, which focus on mini-hydropower plants, enabling the company to offer comprehensive project lifecycle solutions.

The team at PT Funda, with over 20 years of experience, has completed more than 70 hydropower projects across Asia, boasting a total installed capacity of 4,500 MW. In Indonesia, they have successfully executed four grid-connected projects with a combined capacity of 57 MW. Currently, PT Funda has a robust pipeline exceeding 300 MW in planned capacity.

ISDN’s Managing Director and President, Teo Cher Koon, stated, “The acquisition of PT Funda aligns with ISDN’s long-term plan to provide a one-stop renewable energy solution in Indonesia and capture a larger pie in this growing sector.”

This strategic move comes as the Indonesian government aims to double its renewable energy capacity by 2034, with hydropower expected to account for 27.5% of the new capacity. The acquisition positions ISDN to leverage these opportunities, expanding its project pipeline and enhancing its service offerings in early-stage project development and downstream O&M services.

With PT Funda’s integration, ISDN anticipates strengthening its business resilience and expanding its recurring income base, further solidifying its position in the renewable energy sector.
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KSH Holdings Limited has announced the successful sale of its entire 28,900,400 treasury shares, raising $6.35m (S$8.67m) through a placement. The shares were sold at $0.22 (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 notable investors such as ICH Capital, GinkoAGT 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 improve share liquidity. These shares were initially acquired through the company’s share buy-back scheme in previous years.

Executive Chairman and Managing Director Choo Chee Onn expressed gratitude for the investor interest, 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, has been listed on the Singapore Exchange since 2007. The company is recognised for its capability in handling diverse construction projects and has received accolades such as the BCA Construction Excellence Awards. The funds raised from this placement will be used for working capital, supporting KSH’s ongoing commitment to enhancing shareholder value and delivering sustainable returns.
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Moody’s Ratings has revised the outlook for Frasers Hospitality Trust (FHT) to negative whilst affirming its Baa3 issuer rating. This change reflects uncertainties surrounding FHT’s financial policies and capital structure following its privatisation and impending delisting. The move comes after FHT’s unitholders approved a privatisation proposal by Frasers Property Limited (FPL) on 15 August 2025, with a court hearing scheduled for September to finalise the transaction.

The outlook downgrade highlights concerns over FHT’s transition to a privately held entity, which is expected to reduce corporate transparency. Yu Sheng Tay, a Moody’s Ratings Assistant Vice President and Analyst, noted, “The outlook revision to negative reflects the uncertainty around FHT’s future financial policies and capital structure following its privatisation and delisting.”

FHT’s Baa3 rating is supported by its ownership of a high-quality, geographically diverse property portfolio, which benefits from long-term master lease agreements. However, the privatisation will lead to reduced external oversight and visibility into FHT’s financial performance and governance. FPL’s stake in FHT will increase to 63% post-transaction, with TCC Group Investments Limited retaining 37%.

Moody’s expects FHT’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) to moderate to around SGD78 million over the next 12 to 18 months, down from SGD80 million in fiscal 2024. This is attributed to softer demand and increased competition. Despite these challenges, FHT maintains excellent liquidity, with cash reserves of approximately SGD100 million as of June 2025.

The outlook could stabilise if FHT provides greater clarity on its future financial policies and maintains a prudent credit profile. Conversely, more aggressive financial strategies could lead to a downgrade.
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Some of Singapore’s most celebrated music figures, including JJ Lin, Benjamin Kheng, Shabir Sulthan, Awi Rafael, and Taufik Batisah, have pledged their support to the Gift a Guitar initiative. This movement, aimed at providing musical instruments and education to underserved youths, will see these artists auctioning signed guitars to raise funds for the Business Times Budding Artists Fund.

The initiative, spearheaded by Danny Loong, CEO and Founder of Timbre Group, seeks to distribute 600 guitars to youths aged 13 to 20, offering them structured lessons and mentorship. Participants will also have the opportunity to perform at the Sing60 Music Festival this December. JJ Lin, who donated his Martin D-45 guitar, expressed his hope to inspire young people to find their voice through music, stating, “When I first held a guitar as a teenager, it opened up a world where I could dream, express myself, and connect.”

The programme is not just about music; it aims to build confidence, discipline, and a sense of belonging among participants. Danny Loong was inspired to launch Gift a Guitar by his own experiences and a gesture from Prime Minister Lawrence Wong, who gifted him a guitar in 2019. Loong hopes to pass on the encouragement he received to today’s youths.

Gift a Guitar is a collaboration between SGMUSO and The Rice Company Limited, with the goal of nurturing Singapore’s cultural landscape and providing opportunities for young musicians. As the initiative gains momentum, it promises to make a lasting impact on the lives of many young Singaporeans.
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The Singapore Armed Forces (SAF) has announced a series of military and live firing exercises scheduled from 25 August to 1 September 2025. These exercises will take place on the islands of Pulau Sudong, Pulau Senang, and Pulau Pawai, as well as in the Pasir Laba SAFTI Live Firing Area and various locations across Singapore, including Seletar, Marsiling, and Tuas.

During this period, the SAF will conduct live firing and demolition activities, which may result in loud noises. The public is advised to stay clear of these areas and the surrounding waters, including the prohibited waters off Changi Naval Base and Tuas Naval Base. Sea vessels navigating the Western Johor Straits are instructed to remain within the 75-metre Navigable Sea Lane to avoid the Live Firing Boundary, where live ammunition and flares will be used.

In addition to live firing, military exercises will occur in several locations, including Jalan Bahar, Neo Tiew, and Lim Chu Kang, where blanks and thunderflashes will be employed. The SAF has emphasised that trespassing into gazetted and restricted areas is an offence punishable by law, urging the public to adhere to safety guidelines.

These exercises are part of the SAF’s routine training to ensure operational readiness and effectiveness. The public is reminded not to be alarmed by the activities and to prioritise safety by avoiding the designated areas.
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