Industry News

Q&M Dental Group (Singapore) Limited has announced the formation of a joint venture with its subsidiary, Aoxin Q&M Dental Group Limited, to expand its dental laboratory services. The collaboration involves Q&M’s wholly owned subsidiary, Singapore Dental Cadcam Laboratory Pte. Ltd. (SDCL), and Q&M Dental (Shenyang) Pte. Ltd. (QMSY), a subsidiary of Aoxin. The joint venture aims to provide advanced laboratory services, including the processing of porcelain crowns, bridges, and dentures, as well as the development of dental inlay technology.

The joint venture will operate through a newly incorporated company, Dental Excellence Digital Services Centre Pte. Ltd. (JVCo), established on 4 August 2025. SDCL holds a 51% stake in this joint venture, whilst QMSY owns the remaining 49%. The venture is funded through internal resources and is not expected to significantly impact Q&M’s net tangible assets or earnings per share for the financial year ending 31 December 2025.

Boroo Investments, a Singapore-based operator and developer of gold and copper assets, has reported a strategic increase in its doré holdings during the second quarter of 2025. This move is aimed at taking advantage of the rising gold prices, as detailed in their latest financial results announcement.

The company, alongside its parent Boroo Pte. Ltd., revealed these results in connection with their $300 million 9.5% Senior Notes due 2032, which were listed on the Singapore Exchange bond market on 8 August 2025.

Boroo’s decision to increase its doré holdings reflects a strategic response to the current market conditions. The company aims to leverage the upward trend in gold prices to enhance its financial performance. The management’s discussion and analysis section of the report provides insights into Boroo’s operations and financial health, underscoring the significance of this strategic move.

The report also notes recent developments, including the acquisition of the Alturas Project, a gold exploration asset, and the compulsory acquisition of Xanadu Mines. These actions are part of Boroo’s broader strategy to expand its asset base and improve its market position.

Looking ahead, Boroo’s focus remains on capitalising on favourable market conditions and strengthening its portfolio. The company’s strategic initiatives are expected to support its growth objectives and enhance shareholder value in the coming quarters.

Lion Global Investors has announced the launch of Singapore’s first active bond exchange-traded fund (ETF), the LionGlobal Short Duration Bond Fund (Active ETF SGD Class), set to list on the Singapore Exchange (SGX) on 29 September 2025. This ETF marks a significant milestone as it is the first listed share class of an unlisted mutual fund on SGX, providing a new option for investors seeking alternatives to traditional T-bills and fixed deposits.

The fund aims to deliver capital growth and income through a diversified portfolio of high-quality, short-term bonds from both Singapore and international issuers. It is designed to appeal to investors looking for cost-effective, income-producing strategies, particularly in a falling interest rate environment. The Initial Offering Period (IOP) runs from 8 to 23 September, with units priced at S$1.00.

Teo Joo Wah, CEO of Lion Global Investors, highlighted the fund’s strong performance history since its inception in 1991, stating, “This listed active ETF SGD Class is a notable addition to the LGI family of ETFs as investors continue to seek out cost-effective, income-producing strategies to help diversify their portfolios.”

The launch comes as active ETFs gain traction globally, capturing 28% of all ETF flows in 2025, according to Bloomberg. Lion Global Investors, managing S$56.8 billion in fixed income assets, aims to meet growing demand for innovative investment solutions. The fund’s quarterly distribution policy and management fee of 0.25% per annum further enhance its appeal to income-focused investors.
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The Platform Workers Trilateral Group, comprising the Government, unions, and platform operators, has unveiled 10 new recommendations to protect Singapore’s platform workers from illegal foreign competition and unsafe working conditions. Announced on 11 September 2025, these measures target unauthorised activities that undermine local workers’ earnings and unsafe incentive schemes.

Formed in July, the group includes the National Trades Union Congress (NTUC), Ministry of Manpower (MOM), Ministry of Transport (MOT), and Grab Singapore. It has engaged major platform operators like Deliveroo, foodpanda, and AmazonFlex to build industry consensus on tackling common challenges.

Key recommendations include stricter enforcement against illegal platform work. Platform operators must notify MOM if they suspect account misuse by foreigners. Offenders will face a minimum 24-month ban. The Government plans to increase penalties for illegal ride-hailing services and disrupt matching services by removing facilitating apps and advertisements.

The recommendations also address unsafe incentive schemes. Platform operators and Platform Work Associations (PWAs) will develop industry-wide principles for payment and incentives, ensuring they do not encourage excessive working hours. NTUC has announced new principles for fair earnings, which all nine engaged platform operators have agreed to adopt.

The phased implementation of these recommendations includes dedicated reporting channels for violations.

The Platform Workers Act, effective from 1 January 2025, underpins these efforts, allowing NTUC-affiliated PWAs to represent workers in negotiations and providing legal frameworks for collective agreements.

H2G Green Limited, a leading sustainable energy solutions provider, has announced the sale of certain assets from its lifestyle business to the Italian design furniture group Molteni&C. The transaction, formalised through a binding memorandum of understanding, involves the sale of equipment, furniture, and inventories at P5 Pte. Ltd.’s Singapore flagship store. This move marks a strategic shift for H2G, allowing it to concentrate resources on its rapidly expanding Energy Business.

The sale is part of H2G’s broader strategy to enhance operational efficiency and focus on its energy business, which saw its revenue nearly double to $4.2 million (S$5.7 million) in the financial year ending 31 March 2025. The company aims to expand its footprint in the Southeast Asian market over the next two years, with significant developments in its liquefied natural gas and hydrogen divisions.

The lifestyle business will continue to operate its remaining ventures, including furniture distribution and showroom operations in Singapore. P5 will also have the right of first refusal to provide installation and warehousing services for Molteni&C for two years. The transaction’s completion is contingent upon due diligence and the signing of definitive agreements by 1 December 2025.

H2G’s strategic realignment underscores its commitment to sustainability and energy transition, as it strengthens partnerships and builds technology capabilities to support its vision.

The National Trades Union Congress (NTUC) has unveiled the SME Partners Multiplier Programme, a new initiative designed to support small and medium-sized enterprises (SMEs) in Singapore with transformation, workforce upskilling, and business growth. Launched on 11 September 2025, the programme will see NTUC collaborating with industry associations, trade bodies, and business clans—collectively known as multipliers—to provide comprehensive support to SMEs.

The multipliers involved include the Singapore Furniture Industries Council, the Singapore Manufacturing Federation, the Singapore Building Material Suppliers’ Association, and the LIN Chamber of Commerce. These organisations will assist SMEs in accessing training and upskilling opportunities for workers, as well as grants and digitalisation support for employers to drive transformation efforts.

SMEs participating in the programme can benefit from the NTUC Company Training Committee (CTC) framework, which offers joint capability-building and transformation initiatives. The NTUC CTC Grant covers up to 70% of qualifying costs for workforce and business transformation projects, providing practical support in areas such as job redesign, digitalisation, and human capital advisory.

For SME workers, the programme promises smoother career transitions, enhanced employability through skills upgrading, and clearer progression pathways.

Additionally, the programme aims to strengthen SME advocacy at the national level by providing ground-level insights to inform NTUC’s policy-shaping efforts.

Cora Environment, previously known as SembWaste and Sembcorp Environment, has announced a $146 million (S$200 million) investment over five years to enhance its waste-to-resource and recycling capabilities. The investment will bolster Cora Environment’s core capabilities, upgrade existing facilities, and introduce a new digital platform for sustainability insights.

It also aligns with Singapore’s Green Plan 2030, aiming to transition the nation towards a zero-waste future.

The company, which serves approximately 450,000 households and trade premises in Singapore, is committed to reshaping the waste ecosystem through collaboration and education.

“Cora Environment is built on a strong foundation of governance, stakeholder trust, and operational depth,” said Lee Kok Kin, Group CEO of Cora.

Cora Environment’s initiatives include the Closed-Loop Partners Network, launched in June 2024, to promote industry collaboration and responsible recycling. Additionally, the Cora School Recycling League, introduced in 2023, has engaged over 400 schools to educate students on clean stream recycling.

With its comprehensive roadmap, Cora Environment is set to play a crucial role in achieving Singapore’s zero-waste goals and advancing waste management practices in the region. The company’s integrated expertise is expected to deliver long-term value and stronger outcomes for customers, stakeholders, and the community.

ANTA Group has announced its ambitious plan to open 1,000 stores for its ANTA brand across Southeast Asia over the next three years. This announcement was made by Will Wang, Vice President of ANTA Group and Chairman and President of ANTA Southeast Asia, during the 2025 Asia New Vision Forum in Singapore. The company aims to leverage its unique Brand-Retail business model and direct-to-consumer approach to achieve this target.

The Southeast Asia market has been pivotal to ANTA’s global growth, with retail sales nearly doubling year-on-year in the first half of 2025.

Wang highlighted the importance of localisation in their strategy, stating, “True globalisation means achieving localisation in every market whilst staying true to the brand’s DNA.”

With Singapore as its regional headquarters, ANTA is using Southeast Asia as a strategic launchpad for global expansion. The company is also expanding into neighbouring markets such as South Asia, Australia, and New Zealand. This expansion is supported by a streamlined supply chain and a robust logistics platform, enhancing operational efficiency.

ANTA’s commitment to the region is further demonstrated by its investment in local infrastructure and digitalisation, creating over 400 local jobs in Singapore. The company is also engaging with local communities through partnerships and sports development initiatives.

In the first half of 2025, ANTA’s overseas revenue grew by over 150%, driven by Southeast Asia’s market growth and new business launches in the US and the Middle East. The company plans to continue this momentum with flagship stores in key locations and expanded e-commerce channels.

Robeco has been awarded two advanced 3D investment mandates by PGGM, a prominent Dutch pension investor, totalling over €15b for its client, Pensioenfonds Zorg & Welzijn (PFZW). These mandates, announced on 12 September, are tailored to balance risk, return, and sustainability, marking a pivotal development in the partnership between PGGM and Robeco.

The mandates include the 3D Systematic Equity Robeco, valued at €11.7b, which employs a systematic, bottom-up investment strategy focusing on individual company characteristics. The second mandate, 3D Credit Robeco, worth €3.7n, actively manages a diversified credit portfolio with a similar approach. Both strategies integrate Robeco’s proprietary Sustainability IP, including the SDG Framework and Climate Traffic Light analytics, to ensure transparency and sustainability.

Carola van Lamoen, Head of Sustainable Investing at Robeco, stated, “These mandates reflect our shared belief with PGGM and PFZW in the importance of balancing risk, return, and sustainability. By integrating our proprietary Sustainable Investing frameworks and active engagement into both systematic equity and credit strategies, we aim to deliver robust investment solutions that support long-term value creation and positive impact.”

In response to growing demand, Robeco has also launched a suite of 3D ETFs, offering a dynamic alternative to passive ETFs by targeting investment dimensions to enhance performance and sustainability. This initiative underscores Robeco’s commitment to sustainable investing and its strategic alignment with PGGM’s objectives.
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Asia Pacific markets are exhibiting strategic resilience and cautious optimism despite global economic challenges, according to Colliers’ Global Capital Flows September 2025 report. Singapore, Japan, and Hong Kong have emerged as three of the top 10 global sources of cross-border capital, highlighting the region’s increasing role in outbound investment. Concurrently, Japan and Australia are among the top 10 global capital destinations, reflecting sustained investor confidence in the region’s economic fundamentals.

Colliers’ Managing Director in Singapore, Bastiaan VB, noted, “Singapore continues to demonstrate its dual strength as both a capital source and investment destination.”

The report indicates that investment activity in Asia Pacific has surpassed 2024 levels by 5% year-to-date, with the region leading in land-led development. Seven of the top 10 global land and development site destinations are located in Asia Pacific, including Singapore, China, and India.

The office sector remains a standout performer, with Asia Pacific and EMEA leading the global recovery in office investment activity. The retail sector also continues to trade strongly, maintaining consistent activity levels since Q1 2025. Additionally, there is growing momentum in data centre fundraising, driven by demand for AI and digital infrastructure.