Industry News

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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Singtel, Singapore’s leading telecom provider, is projected to reach a stock price of S$5.04 within a year, according to a recent report by DBS. This forecast represents a 23% increase from its last traded price of S$4.11 on 21 August 2025. The anticipated growth is attributed to a renewed correlation between Singtel’s stock price and the market value of its associates, alongside sector consolidation in Singapore’s telecom industry.

The report highlights that Singtel’s core business, which contributes approximately 50% to its core earnings before interest and taxes (EBIT), is expected to benefit from sector consolidation in the next nine to 15 months. This consolidation is anticipated to renew growth in Singtel’s Singapore telco operations, which currently account for about 10% of the group’s profit.

DBS analyst Sachin Mittal notes that the correlation between Singtel’s share price and its associates’ market value has revived to 63% over the past year, suggesting a potential reduction in the holding company discount from 24% to below 10%. This revival is partly due to improved core EBIT and strategic divestments.

Singtel’s geographical diversification, with significant stakes in telecom associates across India, Indonesia, the Philippines, and Thailand, contributed over 64% of its group operating profit in FY25. The company is also expected to accelerate core EBIT growth through investments in data centres and GPU as a Service.

However, potential risks include a decline in the Australian dollar or increased competition in Australia, which could impact Optus, Singtel’s Australian subsidiary. Despite these challenges, Singtel’s earnings are projected to grow at a compound annual growth rate of 12% over FY25-27, supported by a 4.7% yield and buyback initiatives.
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SATS, a leading global aviation services and food solutions provider, has reported a 20% year-on-year increase in its core profit after tax and minority interests (PATMI) for the first quarter of the financial year 2026. This growth, amounting to $51.5m (S$70.5m), was primarily fuelled by robust air cargo volumes and enhanced yields, despite global trade uncertainties.

The company’s revenue rose by 9.9% year-on-year to $1.1b (S$1.5b), with significant contributions from its Gateway segment. Cargo handling and ground handling revenues increased by 12.2% and 9.2% respectively. SATS has successfully outpaced industry cargo volumes for seven consecutive quarters, gaining market share through new contracts and expanded services with existing clients.

SATS’ Food Solutions segment also saw a 5.6% rise in revenue, driven by increased aviation food volumes and higher non-aviation food average selling prices. The company is optimising its operations by shifting its Singapore kitchen model to an assembly-driven operation, which is expected to enhance efficiency and reduce capital expenditure.

Looking ahead, SATS anticipates continued growth in its core net profit for FY26 and FY27, with expectations of mid-single digit growth in cargo tonnage. The company is also focused on reducing its debt, targeting a $146.2m (S$200m) reduction in FY26, which is expected to lower financing costs and support further profit growth.

Despite potential risks from global economic instability and trade disruptions, SATS remains optimistic about its growth prospects, maintaining a “BUY” recommendation with a raised target price of $2.78 (S$3.80).
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Ascentium, a global business services platform based in Singapore, has announced a partnership with INSEAD, a leading graduate business school, to launch the Ascentium-INSEAD Leadership Development Programme. This initiative, aimed at developing Ascentium’s C-suite executives, will run from 25 to 29 August 2025 at INSEAD’s Asia Campus in Singapore. The programme is designed to build a resilient leadership pipeline by focusing on strategic growth and innovation in a rapidly changing world.

The curriculum, crafted in collaboration with INSEAD’s Global Private Equity Initiative, will cover themes such as strategic growth in a VUCA (Volatility, Uncertainty, Complexity, and Ambiguity) environment, stakeholder expectations, and technological innovation. Participants will engage in workshops, simulations, and case studies to enhance their leadership skills.

Lennard Yong, Founding Management and Group CEO of Ascentium, stated, “As we navigate the complexities of the Fourth Industrial Revolution, marked by rapid technological change and macroeconomic uncertainty, our partnership with INSEAD is a strategic step to future-proof our leadership.” He emphasised the company’s commitment to investing in its leadership to achieve competitive excellence.

Professor Philipp Meyer-Doyle, Programme Director for Ascentium at INSEAD, praised Ascentium’s growth and dedication to human capital development. He noted, “Ascentium’s leaders have a clear vision and strategy to achieve it, as well as a proven track record in doing so.”

This programme marks the beginning of a multi-year partnership between Ascentium and INSEAD, reflecting a long-term commitment to professional development and a culture of excellence.
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