Industry News

Citi has introduced its Real-Time Funding (RTF) capabilities for corporate clients in Singapore, enhancing its suite of real-time liquidity solutions. This service, already operational in Australia, Hong Kong SAR, and the UK, automates the movement of funds across borders based on client-defined rules, ensuring cash availability when needed. In the first half of 2025, Citi RTF processed over 150 transactions for four clients across three currencies: AUD, EUR, and HKD.

The launch in Singapore provides clients with unprecedented control over their cash, enabling instant, round-the-clock cross-border liquidity transfers. This eliminates the need for manual fund transfers or reliance on end-of-day sweeps. Rupa Mankad, Citi’s Asia South and Singapore Head of Liquidity Management Services, stated, “This launch empowers businesses with continuous access to their funds, offering greater efficiency, improved working capital management, and stronger control over their financial positions across borders.”

Citi’s RTF is designed to optimise liquidity and automate traditionally manual processes, supporting 24/7 account monitoring and complex cash forecasting. Key features include seamless intercompany transfers, overcoming time zone limitations, and enhanced cross-border capabilities for efficient liquidity management across multiple jurisdictions.

This expansion underscores Citi’s leadership in real-time liquidity solutions, complementing offerings like Real-Time Liquidity Sharing and Real-Time Multi-Banking. The move is part of Citi’s strategy to grow its real-time liquidity offerings with new products and expanded reach.
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DBS has announced the tokenisation of structured notes on the Ethereum public blockchain, making them available to eligible investors through digital platforms such as ADDX, DigiFT, and HydraX. This initiative marks DBS’s first token distribution of crypto-linked structured notes, allowing non-DBS clients to access these assets via the bank’s digital ecosystem. The move addresses the increasing demand for digital assets, with DBS clients trading over $1 billion in crypto options and structured notes in the first half of 2025.

The tokenisation process transforms structured notes, traditionally requiring a minimum investment of $100,000, into more accessible $1,000 tokens. This makes them fungible and easier to trade, offering investors greater flexibility in portfolio management. The initiative is particularly timely as Singapore continues to grow as a wealth management hub, with the number of single family offices exceeding 2,000 in 2024.

DBS’s first tokenised product is a cash-settled cryptocurrency-linked participation note, which provides investors with a cash payout when cryptocurrency prices rise, whilst mitigating potential losses if prices fall. This product is part of DBS’s broader strategy to offer advanced investment strategies and expand access to a wide range of asset classes, including equity-linked and credit-linked notes.

Li Zhen, Head of Foreign Exchange and Digital Assets at DBS, stated, “Asset tokenisation is the next frontier of financial markets infrastructure. By leveraging DBS’s strong credit ratings, partnerships, and capabilities, more investors can now tap our solutions to better manage their portfolios.”

The bank’s initiative is set to broaden access to sophisticated financial instruments, catering to the growing institutional appetite for digital assets.
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OrangeTee, a leading Singaporean proptech real estate agency, has announced a strategic partnership with Tokyu Livable Inc., a prominent Japanese real estate consultancy, to bring curated property investment opportunities in Japan to Singaporean investors. This collaboration aims to provide comprehensive support, including property tours, personalised consultations, and market insights, to help clients navigate the Japanese real estate market.

The partnership, which began in 2014, has facilitated significant transactions for institutional and high-net-worth clients. Now elevated to the Group level, it reflects Realion Group’s broader regional strategy, with OrangeTee playing a key role in delivering integrated, cross-border solutions. Investors will gain access to Tokyu Livable’s exclusive portfolio, including premium flats and newly built condominiums.

Steven Tan, Director of OrangeTee International, highlighted Japan’s appeal as an investment destination, citing stable yields and growing demand for quality residential units. “This partnership enables us to offer Singapore-based investors exclusive access to Tokyu Livable’s highly curated portfolio,” he said.

Yasuaki Nagasaka, Manager of Overseas Sales at Tokyu Livable, expressed excitement about the collaboration, noting that it offers Singaporean investors a unique opportunity to expand their portfolios internationally.

This expansion aligns with Realion Group’s ambition to deliver cross-border real estate solutions across Asia. Justin Quek, CEO of OrangeTee, stated, “Japan is a key market in our growth strategy, and deepening ties with Tokyu Livable strengthens our capabilities.”

To launch this initiative, OrangeTee will host an investor seminar on 24 August 2025 at their Singapore headquarters, providing further insights into the Japanese market.
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M1 Limited has announced that its popular SIM-only mobile plan, Maxx, now includes 5G connectivity for both new and existing customers. This enhancement allows users to experience faster downloads, smoother streaming, and more responsive connectivity, leveraging M1’s highly-rated 5G network in Singapore.

Maxx, known for its simplicity, flexibility, and value, offers generous data bundles and easy activation without hidden charges. As part of a limited-time offer, customers can upgrade their plans to 5G at no additional cost. Those opting for a 5G eSIM can upgrade instantly via the Maxx App, whilst customers preferring a physical 5G SIM can visit designated M1 Shops or Maxx 5G SIM Exchange roadshows.

Customers can verify their handset, SIM, and plan eligibility for 5G through the Maxx App under the “Account” section by selecting “Check Your 5G Readiness.” This move is part of M1’s ongoing commitment to provide cutting-edge technology and tailored offerings to its over two million customers.

M1, a subsidiary of Keppel Ltd., has been a pioneer in Singapore’s telecommunications landscape since its commercial launch in 1997. It was among the first to receive a nationwide 5G-SA standalone network licence and continues to innovate with services like ultra high-speed fixed broadband and fixed voice on the Next Generation Nationwide Broadband Network. For more details or to sign up, customers can visit maxx.sg/maxx-5g.
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Emirates, the world’s largest international airline, is set to host a recruitment drive in Singapore on 2 and 3 September 2025, as part of its global initiative to hire 550 aircraft technicians. Successful candidates will be based in Dubai, where they will join the airline’s expanding technical operations team. This effort is part of the Emirates Group’s broader strategy to recruit 17,300 professionals across 350 roles this year.

The Singapore roadshow will provide both experienced and aspiring aircraft technicians the opportunity to engage with Emirates’ recruiters and engineers. Attendees will gain insights into the roles, benefits, and career progression opportunities available, as well as life in Dubai. The event will also highlight Emirates’ upcoming $950 million (US$950 million) ultra-modern engineering facility at Dubai World Central, which promises to be one of the largest and most advanced in commercial aviation.

Rashed Alfajeer, Emirates’ Country Manager for Singapore and Brunei, expressed enthusiasm for the recruitment drive, stating, “Singapore is home to some of the most talented aviation professionals in the world, and we are excited to bring our global recruitment drive here, as we mark 35 years of operations in this market.”

Emirates Engineering, known for its advanced aircraft maintenance facilities, supports the airline’s fleet of Airbus and Boeing aircraft. The new engineering facility, expected to be completed by 2027, will serve as a centre of excellence for aviation engineering services in the Middle East.

Candidates interested in attending the roadshow must register online. The opportunity to join Emirates offers a competitive tax-free salary, profit-sharing eligibility, and a range of benefits, including discounted flight tickets and access to exclusive privileges through the Emirates Platinum card.
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CNA, the global news brand of Mediacorp, has introduced a paid media release service in collaboration with Media OutReach Newswire. This new service allows businesses worldwide to publish their media releases on CNA’s flagship website, cna.asia, offering unprecedented access to one of Asia’s most trusted news platforms.

The partnership with Media OutReach Newswire marks CNA’s first venture into third-party content services. Jennifer Kok, founder and CEO of Media OutReach, expressed pride in being the inaugural newswire partner, highlighting the recognition of their investment in delivering corporate news across the Asia Pacific region. “Based on data from Similarweb, we know that the highest readership can be attributed to local media,” Kok stated, emphasising their focus on forming content partnerships with local media in Southeast Asia, Africa, the Middle East, and globally.

Yong Chung Jin, Head of Business Operations at CNA, clarified that the service operates separately from CNA’s editorial operations. He noted that it provides corporates and newsmakers a unique opportunity to showcase developments and enhance visibility by leveraging CNA’s strong online presence.

Since its inception in 1999, CNA has evolved into a global news brand, attracting over 90 million page views and nearly 12 million unique visitors monthly, according to Adobe Analytics data from January to July 2025. All media releases will be published as received, without edits, on CNA’s dedicated media release page.

CNA continues to expand its reach, offering content across TV, radio, and digital platforms, and is available on social media and messaging services.
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Singapore-based shipbuilder Strategic Marine has announced a partnership with US naval innovator Eureka Naval Craft to construct the Aircat Bengal MC Modular Attack Surface Craft. This collaboration, formalised through a Memorandum of Understanding, aims to leverage Eureka’s pioneering Surface Effect Ship design and Strategic Marine’s shipbuilding expertise to produce a versatile vessel for both defence and civilian use.

The Aircat Bengal MC, a 36-metre modular platform, will be constructed at Strategic Marine’s advanced facilities in Singapore. The vessel is designed to meet the evolving needs of modern naval and maritime security forces, as well as the offshore energy industry. It features a highly modular payload architecture, allowing for rapid integration of various mission modules, including sensors, unmanned systems, and specialised equipment.

Bo Jardine, CEO of Eureka Naval Craft, stated, “This partnership marks a new chapter in delivering next-generation, dual-use maritime solutions to the global market.” Chan Eng Yew, CEO of Strategic Marine, added, “Our Singapore shipyard is equipped with the latest technology and staffed by a highly experienced team, enabling us to deliver complex vessels quickly and at scale.”

The Aircat Bengal MC is also equipped with Greenroom Robotics’ GAMA maritime autonomy solution, enhancing its operational flexibility and safety. This aligns with the US Department of Defense’s strategic goals in the Indo-Pacific region, offering advanced mission flexibility for various defence scenarios.

The partnership between Eureka and Strategic Marine underscores the potential of international collaboration in advancing maritime innovation and security, combining American technological leadership with Singaporean shipbuilding excellence.
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AEM Holdings has reported a notable increase in its net profit for the first half of 2025, with figures rising by 283.9% year-on-year to S$3.2 million. This growth comes as CGS International resumes coverage with a Hold call, following a previous Reduce rating. Despite a foreign exchange loss of S$5.9 million and an inventory provision of S$4.1 million leading to a S$0.3 million loss in the second quarter, AEM’s revenue for the period reached S$190.3 million, aligning with its guidance.

The company’s test cell solutions segment, which accounts for 62% of its revenue, saw an 18.8% year-on-year increase, driven by the deployment of its AMPS-BI solution. However, the contract manufacturing segment experienced a 4.7% decline due to global trade uncertainties.

Looking ahead, CGS International expects its AEM’s earnings outlook to improve in the fiscal years 2026 and 2027 as demand from new customers gains momentum. The company has guided for second-half 2025 revenues of S$170 million to S$190 million, with potential impacts from US dollar weakness and order pull-ins from key customers.

AEM’s strategic focus includes ramping up production for a major AI/HPC customer and exploring volume production opportunities with a memory customer. The company’s valuation has been adjusted to a target price of S$1.44, reflecting a 12.1x FY27 forecasted price-to-earnings ratio.

The semiconductor industry is projected to continue its growth trajectory, with global sales expected to reach $728 billion (US$728 billion) in 2025. AEM’s future performance will depend on the successful delivery of new customer orders and the broader economic environment.
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Hyphens Pharma International has announced a strategic review of its product portfolio, focusing on higher-margin products, as revealed in a recent report by CGS International. The company’s core profit after tax and minority interests (PATMI) for the first half of 2025 stood at S$5.8 million, marking a 7.4% year-on-year decline. However, the gross profit reached a record S$35.3 million, a 1.5% increase from the previous year, attributed to the shedding of low-margin products.

The company’s revenue for the first half of 2025 decreased by 10.1% year-on-year to S$89.5 million. This decline is seen as a result of Hyphens Pharma’s deliberate move to discontinue low-margin products, such as the infant formula Physiolac in Cambodia and Myanmar, which contributed less than 1% to the company’s gross profit. The decision aligns with Hyphens Pharma’s strategy to enhance its profitability by prioritising products with higher gross profit margins.

Despite the revenue drop, Hyphens Pharma’s gross profit margin expanded by 4.5 percentage points to 39.4% in the first half of 2025. The company faced one-off losses due to inventory obsolescence and foreign exchange translation, impacting its headline net profit, which fell to S$1.7 million. These losses were attributed to excess inventory of the nasal spray brand Sterimar and currency fluctuations affecting sales in Vietnam and Indonesia.

Looking forward, Hyphens Pharma is optimistic about its growth prospects, particularly in its medical aesthetics portfolio. The company has increased its earnings per share (EPS) forecasts for 2025 to 2027 by up to 14.6%, reflecting an improved profitability outlook. The target price for Hyphens Pharma’s shares has been raised to S$0.43, indicating a potential upside of 48.3% from the current price.

Hyphens Pharma’s strategic shift is expected to bolster its growth trajectory, with new product launches like Winlevi, a topical acne treatment, and Metoject, a treatment for rheumatoid arthritis, anticipated to drive future revenues. The company remains focused on optimising its product offerings to sustain its competitive edge in the pharmaceutical industry.
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Marco Polo Marine, a prominent player in the offshore and marine sector, reported a significant revenue boost from its new commissioning service operation vessel (CSOV) in the nine months ending September 2025. The company earned S$11m from new offshore wind vessels, with the CSOV alone contributing approximately S$6m to S$7m since its deployment in April. This development comes amidst an easing bank financing landscape, which could facilitate further fleet expansions, a CGS International report revealed.

The company is actively considering the addition of a second CSOV, with a contract expected in the second half of 2025. This potential expansion aligns with Marco Polo Marine’s strategy to divest older vessels and reinvest in the offshore wind sector. The company anticipates that the construction of the new vessel will take about two years, with contributions to revenue likely starting by the end of 2027.

Despite the positive outlook, Marco Polo Marine faces challenges in its shipyard operations. Yard utilisation improved to 88% in the third quarter of 2025, yet revenue from this segment dropped by 19% year-on-year due to a lack of shipbuilding activity. The company has adjusted its earnings forecast for the fiscal year 2025, reducing expected earnings per share by 12% due to weaker yard revenues and lower fleet utilisation.

CGS International remains optimistic about Marco Polo Marine’s growth, reiterating an “Add” recommendation with a target price increase to S$0.08, reflecting a 21.2% upside. Key catalysts for this re-rating include potential contract wins for the second CSOV and higher fleet utilisation. However, risks such as lower-than-expected yard utilisation and project delays could impact demand for vessels.
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