Industry News

DayOne Data Centres Limited, a Singapore-based global digital infrastructure platform, has filed a registration statement with the US Securities and Exchange Commission for a proposed initial public offering (IPO) of American Depositary Shares (ADSs). The company plans to list these ADSs on the Nasdaq Global Select Market under the ticker symbol DODC. The exact number of ADSs and the price range for the offering have yet to be determined.

Morgan Stanley, JP Morgan, BofA Securities, and Citigroup are set to act as underwriters for the IPO. The offering will be made solely through a prospectus, with copies available from the underwriters once the preliminary prospectus is ready.

DayOne, established in 2022, operates next-generation data centres across ten markets in Asia Pacific and Europe, including Singapore, Malaysia, Indonesia, Thailand, Japan, Hong Kong SAR, Finland, and Spain. The company is known for its high-capacity, AI-ready campuses, which are trusted by leading global hyperscalers and businesses. DayOne’s proprietary integrated delivery model and proven track record enable it to meet the growing demand for critical infrastructure.

The registration statement for the IPO has been filed but is not yet effective, meaning no securities can be sold or offers accepted until it becomes effective. This announcement does not constitute an offer to sell or solicit an offer to buy these securities. Any sales will comply with the registration requirements of the Securities Act of 1933.

SATS Ltd., a leading provider of air cargo handling services, has signed a Memorandum of Understanding (MOU) with Aeropuerto Internacional de Tocumen, S.A., the operator of Panama’s Tocumen International Airport. This agreement aims to explore strategic collaboration opportunities to enhance air cargo connectivity and establish Panama as a key logistics gateway for the Americas.

The partnership will focus on developing cargo areas at Tocumen International Airport and improving air cargo handling facilities within Tocumen Cargo City, aligning with the airport’s master plan. SATS will leverage its global air cargo handling expertise and extensive network to support trade flows through Panama, thereby strengthening trade connectivity between Asia and the Americas.

Kerry Mok, President and CEO of SATS Ltd., highlighted the significance of the partnership, stating, “Drawing on our experience across major cargo gateways and our global network of over 225 stations in 27 countries, SATS is pleased to partner PTY as it advances its vision for Panama.”

Jose Ruiz Blanco, General Manager of Tocumen International Airport, expressed optimism about the collaboration, noting, “This understanding with SATS gives us an opportunity to explore new capabilities for Tocumen, strengthen our cargo platform and expand trade connectivity between Asia and the Americas.”

The collaboration is expected to not only enhance cargo capabilities but also create new job opportunities within the airport ecosystem, contributing to the economic development of the region. As both Singapore and Panama play vital roles in global trade, this partnership is poised to deepen trade connectivity and support the growing movement of goods between the two continents.

Singapore’s retail sales in August experienced a downturn, primarily driven by a slump in motor vehicle sales, according to Zavier Wong, Market Analyst at etoro. The Certificate of Entitlement (COE) premiums, nearing their July record of S$129,000, have deterred potential buyers, contributing to the decline. The limited quota increase of just 0.2% from the previous quarter left little room for premium reductions, prompting buyers to delay purchases in anticipation of cheaper bidding rounds.

Beyond vehicles, retail sales excluding vehicles grew by only 1.6%, falling short of the 2% median forecast from economists surveyed by Bloomberg. Wong highlighted that the mid-August spike in oil prices, triggered by fears of a collapsing Hormuz ceasefire, has influenced consumer behaviour. The heightened awareness of Middle Eastern tensions has led households to anticipate price hikes, resulting in reduced discretionary spending. This shift is evident in the sharp year-on-year declines observed in cafés and food courts.

Conversely, cosmetics and electronics sectors showed resilience, posting double-digit growth for the second time in 2026. Wong noted that these categories have consistently performed well throughout the year, independent of broader economic fluctuations.

Looking ahead, the upcoming Monetary Policy Statement from the Monetary Authority of Singapore (MAS) is expected to address the ongoing oil price volatility. Wong anticipates that if oil prices continue to rise, MAS may adopt a hawkish stance, favouring early intervention over delayed, larger adjustments. This approach aligns with the central bank’s strategy throughout the year.

LG Electronics Singapore has unveiled its latest premium built-in kitchen innovations in collaboration with Michelin-starred Chef Son Jongwon. The showcase, held on 30 September, highlighted the fusion of Korean culinary artistry and advanced kitchen technology, demonstrating how modern appliances can enhance cooking and hosting experiences.

The event, known as the LG x Chef Son Jongwon Showcase, featured a media preview where Chef Son, renowned for his culinary expertise at Eatanic Garden and L’Amant Secret in Seoul, demonstrated the capabilities of LG’s built-in kitchen appliances. Chef Son emphasised the importance of precision and consistency in cooking, stating, “Working with LG has shown me how thoughtful technology and design can support the way we cook whilst still allowing creativity and the character of the food to remain at the centre of the experience.”

LG’s premium kitchen line-up includes the Induction Hob CI7Z2438BA, offering up to 7.4kW of power, and the Built-In Oven WSED7667M, featuring 42 Auto Cook Programmes and Full Steam technology. The range is complemented by the LG Hood HCEZ2426S and the LG Microwave Oven MJ3965BGS, all integrated with the LG ThinQ platform for seamless control.

Fabian Kunho Lee, Managing Director of LG Electronics Singapore, remarked, “Our collaboration with Chef Son Jongwon celebrates what becomes possible when world-class culinary craft meets intelligent, thoughtfully designed kitchen technology.”

The showcase also featured iconic design pieces from Fritz Hansen, enhancing the aesthetic appeal of the modern kitchen setting. LG’s commitment to innovation and design aims to transform everyday cooking into an elevated experience for homeowners.

The latest People at Work 2026 Report by ADP Research highlights significant differences in skills readiness, financial security, and career prospects among Singapore’s multigenerational workforce. Workers aged 18 to 26 show the highest skills readiness, with 23% confident in their career advancement over the next three years. In contrast, those aged 27 to 39 experience the strongest career progression but report the lowest financial security, with only 10% feeling financially secure.

Older workers, particularly those aged 55 to 64, face challenges in career development and mobility. Only 4% believe their employers are investing in their skill advancement, and over one-third find job changes increasingly difficult. These findings underscore the need for tailored workforce strategies to address diverse generational needs.

Dr. Nela Richardson, ADP’s chief economist, emphasised the importance of data-driven human capital management strategies to cater to a multigenerational workforce. “By paying employees accurately and on time, using payroll analytics to advance fairer compensation, and investing in tailored upskilling initiatives, employers can build greater trust and support for employees at every stage of their careers,” she stated.

Jessica Zhang, Senior Vice President, APAC, ADP, noted that a multigenerational workforce offers opportunities to harness diverse strengths. She highlighted the importance of creating work environments that facilitate knowledge exchange and support career development across all ages.

The report suggests that embracing generational diversity can enhance business performance by leveraging complementary strengths, ultimately leading to more resilient and productive teams.

The Singapore Business Federation (SBF) has launched the inaugural Singapore-India Network for Growth (SING) Forum 2026, a high-level platform designed to enhance business connections between Singapore and India. Held at Orchard Hotel Singapore, the event gathered nearly 300 senior government officials, business leaders, and investors from both nations.

The forum was graced by Gan Siow Huang, Minister of State, Ministry of Energy, Trade and Industry & Ministry of Foreign Affairs, who emphasised the robust Singapore-India relationship and future economic collaboration. The event also featured addresses from the Chief Ministers of Chhattisgarh and Haryana, highlighting opportunities in sectors such as minerals, power, and industrial services.

India’s High Commissioner to Singapore, Dr Shilpak Ambule, noted Singapore’s significant role as India’s largest source of foreign direct investment in FY2025-26, amounting to $19.8b. The cumulative investment from Singapore to India has reached $194.68b, underscoring the strategic partnership between the two countries.

The forum included discussions on cross-border trade, digital infrastructure, and sector-specific insights from industries like FMCG, logistics, and automotive. A closing session allowed Singapore business leaders to engage directly with Indian state leaders on potential partnerships and investment support.

Mark Lee, Chairman of SBF, stated, “India is one of the few markets large enough to matter… The scaffolding is up. The job now is for our businesses to climb it.” The SING Forum builds on the India-Singapore Comprehensive Strategic Partnership, aiming to facilitate Singaporean companies’ entry and expansion in India’s diverse markets.

SG Eco Loop 2.0 has concluded with over 120 students from 12 Institutes of Higher Learning (IHLs) in Singapore successfully diverting 892kg of food and plastic waste. The six-week programme, organised by the Singapore Deep-Tech Alliance and funded by the SG Eco Fund, aimed to address the nation’s pressing waste challenges whilst equipping students with valuable skills for future employment.

The initiative not only focused on waste reduction but also on preparing students for the evolving job market. With 70% of participants expressing increased interest in sustainability careers and 87% acquiring new practical skills, the programme highlighted the potential of sustainability initiatives in shaping future career paths. “Ground-up action is necessary,” emphasised Prof Leo Tan from Temasek Foundation, underscoring the programme’s impact.

Students developed innovative solutions across various domains, including food waste, plastic recycling, and technology. Nearly 59% of participants indicated a desire to continue working on their projects post-programme, showcasing the programme’s success in fostering long-term engagement with sustainability issues.

SG Eco Loop 2.0’s approach of combining sustainability, technology, and entrepreneurship offers a promising model for building future-ready skills. As Singapore grapples with both environmental and employment challenges, such initiatives could play a crucial role in shaping a sustainable and economically resilient future.

RedMart, Singapore’s leading e-grocer, has announced the expansion of its express delivery service, RedMart Now, to the East of Singapore. This move comes in response to a sixfold growth in orders since the service’s inception in February 2026. Initially serving the South and Central regions, the service expanded to the North and North-east in August, and now covers the East, bringing ultra-fast grocery delivery to more households.

RedMart Now operates daily from 7am to 10pm, offering on-demand grocery delivery for a fixed fee of S$3.99 on orders of S$30 and above. The service has become integral to Singaporeans’ grocery routines, complementing larger, scheduled shops with quick top-ups of fresh produce and essentials. “The sixfold growth in orders shows that customers value having different options for different grocery needs,” said Martin Daney, Head of RedMart.

To support this expansion, RedMart has quadrupled its delivery fleet and increased its same-day delivery capacity by 200%. A new fulfilment centre was opened in August to support the North and North-east regions, followed by another on 1 October for the East. Venkat Shankar, Chief Logistics Officer for RedMart and Lazada Singapore, noted, “With RedMart Now, we are stepping up our investment in quick commerce.”

RedMart offers over 120,000 products, including fresh produce, dairy, and speciality items. To celebrate the expansion, customers can enjoy 50% off and free delivery on their first RedMart Now order, with additional benefits for RedMart+ members.

Hilton has launched its DoubleTree by Hilton brand in Singapore with the opening of a new hotel at Robertson Quay. The 344-room property, located along the Singapore River, offers a blend of city energy and quayside relaxation, catering to both business and leisure travellers. Guests are welcomed with the brand’s signature warm chocolate chip cookie, a hallmark of DoubleTree’s hospitality.

The hotel features a variety of accommodation options, including rooms and suites ranging from 24 to 50 square metres, with over 200 rooms offering river views. Facilities include seven meeting rooms, an outdoor pool, a wellness studio, and a 24-hour fitness centre. Two new dining concepts, SAUS and Brew:33, have been introduced, offering a range of culinary experiences from homegrown flavours to craft beers.

Alexandra Murray, Hilton’s area vice president for South East Asia, highlighted Singapore’s importance as a market, noting its strong business community and global connectivity. “The debut of DoubleTree by Hilton in Singapore strengthens our portfolio with a brand known for making guests feel genuinely welcomed and well cared for,” she said.

To celebrate the opening, Hilton Honours members can earn 1,000 bonus points per night for stays until 31 December 2026. The hotel is conveniently located near Havelock MRT Station, providing easy access to key areas like Orchard Road and Sentosa.

Singapore’s retail sales experienced a 1.0% month-on-month seasonally adjusted decline in August, according to UOB Global Economics and Markets Research. This drop comes despite a significant recovery in tourist arrivals, which were approximately 29% higher than in the second quarter, driven by summer holidays in China and Europe. The subdued retail performance suggests restrained spending by both tourists and locals.

The decline in August was particularly evident in supermarket sales, which fell by 2.6% following a 3.7% increase in July. This decrease is attributed to the diminishing effect of CDC vouchers distributed in June. Additionally, sectors sensitive to tourism, such as department stores and watches and jewellery, also saw declines of 1.5% and 7.8% respectively. Motor vehicle sales plummeted by 9.5%, a drop more severe than anticipated given the modest changes in Certificate of Entitlement (COE) premiums and quotas.

Conversely, some segments showed recovery from July’s weakness. Cosmetics, toiletries, and medical goods rose by 8.4%, whilst computer and telecommunications equipment increased by 3.1%. Food and alcohol sales also saw a 3.4% uptick.

In volume terms, retail sales contracted by 1.2% month-on-month, with a year-on-year decline of 2.7%. The slight year-on-year nominal sales increase of 0.7% was largely due to price effects from rising input and energy costs, exacerbated by the Middle East conflict earlier in the year. UOB’s Labour Market Pressure Index indicates increased labour market slack, with redundancies rising to 4,620 in the second quarter, potentially dampening consumer confidence and discretionary spending.