Industry News

Retail sales in Singapore experienced a notable increase of 6.3% year-on-year in November 2025, according to the latest figures from SingStat. This growth follows a 4.4% rise in October 2025, highlighting a continued upward trend in consumer spending. Excluding motor vehicles, retail sales grew by 5.8%, building on a 3.7% increase the previous month. The total retail sales value reached S$4.4b, with online sales accounting for 16.9% of this figure, up from 14.5% in October.

The rise in online sales was largely driven by year-end shopping events such as Singles’ Day and Black Friday. Notably, online sales comprised 60.6% of sales in the Computer & Telecommunications Equipment sector, 40.7% in Furniture & Household Equipment, and 12.6% in Supermarkets & Hypermarkets.

In contrast, the Food & Beverage (F&B) services sector saw a more modest year-on-year growth of 2.5% in November, consistent with the growth seen in October. However, on a seasonally adjusted basis, F&B sales fell by 0.8% compared to the previous month. The total sales value for F&B services was estimated at S$1.0b, with online sales making up 24.8% of this total.

Within the F&B sector, Fast Food Outlets and Food Caterers each recorded a 7.0% increase in sales, whilst Cafes, Food Courts, and Other Eating Places grew by 2.0%. Conversely, Restaurants experienced a slight decline of 0.4% in sales.

These figures underscore the growing importance of online sales in Singapore’s retail landscape, particularly during major shopping events, whilst the F&B sector continues to face challenges in maintaining consistent growth.

Knight Frank Singapore has announced the appointment of Dr Alan Wong as Chief Operating Officer and Head of Facilities Management at Knight Frank Property and Facilities Management Pte Ltd, effective 5 January 2026. Reporting to CEO Galven Tan, Wong will spearhead digital transformation efforts to enhance the firm’s market position in property and facilities management.

Wong, who succeeds Peter Tan, will ensure a seamless transition for ongoing projects and collaborate with the existing team to expand the Facilities Management business. With a background in telecommunications, digital app solutions, and community care, Wong brings a wealth of experience in transforming traditional organisations.

In his role as COO, Wong will work closely with Eleana Teo, Managing Director and Head of Strata Management, to drive operational efficiency and business growth. Together, they aim to strengthen KFPFM’s digital platforms and develop innovative strategies for stakeholders.

Galven Tan expressed confidence in Wong’s ability to elevate operational efficiencies and foster an agile, innovative culture at KFPFM. “Alan is a seasoned C-suite professional with extensive experience in key senior operational and strategic roles,” Tan stated. “We are very excited about the next phase of growth for our business.”

Wong emphasised his commitment to technology-enabled solutions and operational efficiency, stating, “I am excited to drive KFPFM’s next chapter of growth and success to deliver sustainable, long-term value to our clients.”

This strategic appointment marks a significant step for Knight Frank Singapore as it seeks to enhance its service offerings and maintain its leadership in the property management sector.

Johnson Controls has announced a significant expansion of its Innovation Centre in Singapore, investing up to S$60m over the next five years. This move aims to address the increasing demand for sustainable data centre solutions across the Asia Pacific region. The enhanced facility will focus on developing next-generation cooling, thermal management, and intelligent automation technologies to help hyperscalers and colocation providers meet carbon reduction targets without compromising performance.

The expansion underscores Singapore’s position as a hub for sustainable digital infrastructure. Cindy Koh, Executive Vice President at the Singapore Economic Development Board, highlighted that the expansion “adds new capabilities and jobs in sustainable building solutions in Singapore, for which data centre is a key growth area.” This initiative reflects Johnson Controls’ confidence in Singapore as a leading innovation hub.

Anu Rathninde, President of Asia Pacific at Johnson Controls, emphasised the importance of the expansion, stating, “The expansion of our Innovation Centre in Singapore is key in helping hyperscalers and colocation providers achieve their carbon reduction goals whilst ensuring performance and consistency at scale.”

The investment will also see the expansion of Johnson Controls’ engineering teams to 90-100 roles, enhancing expertise in thermal management and advanced cooling strategies. This development is part of a broader strategy to support the rapid AI and cloud-led digitalisation in the region, where data centres are projected to account for 12% of Singapore’s national energy consumption by 2030.

With a legacy of over 140 years, Johnson Controls continues to advance sustainability through its OpenBlue digital platform and Cooling-as-a-Service model, reinforcing Singapore’s Green Building Masterplan and Smart Facility Management goals.

Hyphens Pharma International Limited, a leading Singaporean pharmaceutical and healthcare group, has announced a strategic partnership with Swiss company Louis Widmer SA to commercialise its Cerapro® MED Skin Barrier Cream across six European countries. This agreement, which includes Switzerland, Liechtenstein, Austria, Belgium, Luxembourg, and the Netherlands, aims to introduce the innovative eczema treatment to European markets by 2026.

Cerapro® MED Skin Barrier Cream, a patented formulation, is designed to lower skin pH and restore the skin barrier, addressing key factors of atopic dermatitis, a common form of eczema. The product has been approved as a CE-marked medical device under the European Medical Device Regulation, offering a novel treatment option for patients. Louis Widmer, known for its high-quality dermatology products since 1960, will promote Cerapro® to dermatologists and paediatricians in the designated regions.

Hyphens Pharma will receive an upfront fee and royalties on sales as part of the licensing agreement. Lim See Wah, Chairman and CEO of Hyphens Pharma, expressed enthusiasm about the collaboration, stating, “This milestone partnership with Louis Widmer underscores our commitment to innovation and patient care.”

Annemarie Widmer, CEO of Louis Widmer, added, “We are excited to partner with Hyphens Pharma to introduce Cerapro® to our markets, offering patients a clinically proven solution for atopic dermatitis.”

This collaboration marks a significant step for Hyphens Pharma in expanding its reach into the European market, potentially enhancing patient outcomes with its science-backed dermatological solutions.

Singlife, a prominent financial services company, has relocated to Marina One, Singapore, marking a significant step in its growth and sustainability journey. The move consolidates over 1,200 employees from various locations into a 74,000-square-foot space, aiming to boost productivity and collaboration. The new office features open workspaces and enhanced facilities, fostering innovation and teamwork.

The relocation includes the launch of a new Customer Service Centre on Level 1 of Marina One, The Heart. Designed with SG Enable, the centre offers improved accessibility, including a wheelchair-friendly service counter and hearing assistance technology. Customers can also book appointments online for convenience.

Singlife’s commitment to sustainability is underscored by the move, which is expected to save over 95,000 kWh of electricity annually. The company reused over 1,400 pieces of furniture, installed energy-efficient lighting, and incorporated greener materials. Marina One’s LEED certification and BCA Green Mark Platinum status align with Singlife’s goal of achieving net-zero emissions by 2050.

Pearlyn Phau, Group CEO of Singlife, stated, “The move to Marina One is more than just a change of address—it marks the next phase in Singlife’s journey.” The relocation not only strengthens Singlife’s position in Singapore’s financial landscape but also enhances its ability to serve customers and partners effectively.

The move was celebrated with a symbolic walk by 150 employees from SGX Centre 2 to Marina One, where Singlife welcomed fellow tenants with complimentary treats, fostering new connections within the business community.

ETC, a member of the Realion Group, has announced the sale of two adjoining double-storey shophouses located along Syed Alwi Road in the bustling Jalan Besar precinct. The sale will be conducted through an Expression of Interest (EOI) exercise, closing on 29 January 2026 at 3pm.

The shophouses, situated near the junction of Jalan Besar and Syed Alwi Road, are each set on a land area of approximately 105 square metres and offer a floor area of about 185 square metres. The combined guide price for both properties is S$9.2m, equating to around S$2,305 per square foot on the floor area. These properties can be purchased individually or collectively.

According to Swee Shou Fern, Head of Investment Advisory at ETC, the Jalan Besar area has seen increased investor interest due to its transformation from a hardware-centric area to a vibrant commercial and lifestyle hub. “Today, the area’s long-term investment appeal is underpinned by a combination of heritage character, location and the broadened mix of uses, which continue to generate strong and sustained footfall and demand,” she stated.

The area is known for its diverse dining options, co-working spaces, and boutique hotels, further enhancing its commercial appeal. In 2025, District 8 accounted for 31% of the total shophouse transactions in Singapore, with 24 out of 77 transactions, according to URA records.

These shophouses are not subject to Additional Buyer’s Stamp Duty or foreign ownership restrictions, making them attractive to both investors and owner-occupiers.

Singaporean office workers are calling for landlords to enhance their office environments with more community events, lifestyle amenities, and vibrant spaces, according to a recent survey by EXPIScore. The survey, conducted in the first half of 2025, highlights a growing expectation for office buildings to offer initiatives that foster communication and community, alongside on-site amenities such as food and beverage (F&B) options and wellness facilities.

The survey, which gathered responses from over 1,000 office workers across various age groups and sectors, found that 87% of respondents value communication and community-building initiatives. Additionally, 95% expect on-site F&B, retail, and wellness amenities. Younger workers, particularly those aged 21 to 34, are leading this trend, with 97% expressing a desire for such amenities.

Dr. Marigold Kimura, founder of EXPIScore, noted, “Singapore office landlords now face rising expectations for experience-driven office destinations that foster a richer experience and sense of community at work.” The survey’s findings have been used to develop the EXPIScore rating criteria for human-centric customer experience in office buildings.

Despite the demand, landlords face challenges such as space constraints and management issues. However, they are exploring creative solutions, including partnerships with co-working operators and revising their F&B offerings to meet these evolving expectations. Peter Holland, EXPIScore’s Executive Adviser, emphasised the importance of adapting to these demands, stating, “Proactive office landlords will see healthy rental growth and occupancy rates.”

The Urban Redevelopment Authority’s schemes, extended to 2030, aim to encourage the redevelopment of older office buildings into mixed-use projects, further supporting the transformation of Singapore’s office landscape into vibrant, community-focused environments.

Nanyang Polytechnic (NYP) has unveiled the AI Nexus Lab, a pioneering initiative designed to facilitate digitalisation and artificial intelligence (AI) adoption for Singapore’s Small and Medium-sized Enterprises (SMEs). Built on Amazon Web Services (AWS), the lab will serve as a one-stop solution for businesses to address manpower challenges and enhance AI development skills through real-world projects.

The AI Nexus Lab is set to benefit over 1,000 students annually from NYP’s School of Information Technology, integrating AWS AI and machine learning solutions into their curriculum. This hands-on approach allows students to apply their classroom knowledge directly to company projects, bridging the gap between education and industry needs.

NYP aims to reach 500 SMEs within the next five years, offering pathways such as generative AI training workshops. In collaboration with the Singapore Chinese Chamber of Commerce & Industry (SCCCI), the lab has already identified 64 use cases from their SME network for prototype development. This initiative highlights NYP’s commitment to equipping both students and businesses with the necessary tools to thrive in an increasingly digital economy.

The AI Nexus Lab represents a significant step in making AI technology accessible to smaller businesses, potentially transforming how they operate and compete in the market. As the lab continues to develop, it is expected to play a crucial role in shaping the future of AI adoption in Singapore’s SME sector.

Global law firm Reed Smith has announced the appointment of Dr. Gregory Xu as a banking and finance partner in its Singapore office. Xu, formerly with Stephenson Harwood, brings over 15 years of experience in high-value, cross-border transactions across sectors such as transportation, trade, life sciences, energy, and technology. His expertise includes green and sustainability-linked lending, as well as multi-jurisdictional insolvency-related enforcement and restructuring.

Xu will join Reed Smith’s Transportation Industry Group, where his knowledge of ship and aviation finance is expected to strengthen the firm’s capabilities in Singapore and the broader Asia-Pacific region. Richard Hakes, chair of the group, stated, “Gregory is an outstanding addition to our team, bringing deep knowledge of ship finance, aviation finance, and banking throughout Southeast Asia.”

Xu expressed enthusiasm about joining Reed Smith, citing the firm’s global platform and market-leading finance practice as major attractions. “I’m delighted to be joining such a highly collegiate team with a clear strategy for growth in the region,” he said.

Praj Samant, Reed Smith’s Asia-Pacific managing partner, welcomed Xu, noting his arrival bolsters the firm’s offerings in strategically important sectors. Xu is recognised as a leading practitioner by legal directories such as Chambers Asia-Pacific and The Legal 500.

Reed Smith continues to be a leading adviser to financial institutions, leveraging its expertise across multiple industries to support complex transactions and regulatory matters. Xu’s addition is expected to enhance the firm’s ability to provide seamless, cross-border support to clients in dynamic industries.

The Competition Commission of Singapore (CCS) is currently reviewing a proposed acquisition involving two major players in the electric vehicle charging industry. This evaluation aims to ensure that the merger does not adversely affect competition within the sector, which is crucial for maintaining fair market practices and consumer choice.

CCS is inviting public feedback until January 16, 2026 on the proposed acquisition by SP Mobility Pte. Ltd.  of Strides YTL Pte. Ltd. CCS accepted a joint application from the Parties on December 22, 2025 for a decision on whether the proposed transaction would be anti-competitive.

The acquisition under scrutiny involves companies that are pivotal in the development and deployment of electric vehicle charging infrastructure in Singapore. As the nation pushes towards a more sustainable future, the role of such companies becomes increasingly significant. The CCS’s assessment will focus on whether the merger could potentially lead to a monopoly or reduce the competitive landscape, which could impact pricing and innovation.

The CCS has invited stakeholders and the public to provide feedback on the potential implications of the acquisition. This consultation process is part of the commission’s commitment to transparency and thorough evaluation of mergers and acquisitions that could have far-reaching effects on the market and consumers.

The outcome of this review could set a precedent for future mergers in the rapidly growing electric vehicle sector. As Singapore continues to advance its green initiatives, ensuring a competitive market for electric vehicle infrastructure remains a priority.