Industry News

Adidas has launched a new store at Resorts World Sentosa, Singapore, offering a diverse range of products for men, women, and children. Open since 7 August, the store is located within the Weave lifestyle hub, known for its striking architecture. This new location aims to attract holidaymakers and provide a unique shopping experience with resort-specific offerings.

The store is notable for its swimwear hub, a first for adidas in Singapore, catering to visitors enjoying Sentosa’s beaches and Resorts World facilities. “We’re thrilled to announce the first adidas store in Resorts World Sentosa,” said Chen Rui Yan, adidas Singapore Country Manager. “This new location provides an exciting new customer base of holiday-makers, allowing us to reach adidas fans in a new way.”

In addition to swimwear, the store offers exclusive T-shirt designs celebrating Sentosa’s beaches, available through print-on-demand. Priced at $14 per design on a plain tee ($35 per tee), these designs are complemented by pins and charms at $12 each. The store also offers customised luggage tags with personalised embossing, enhancing the vacation experience.

Located at #01-205, 26 Sentosa Gateway, the store is part of adidas’ strategy to engage with a broader audience through innovative and location-specific products. This expansion reflects adidas’ commitment to providing unique shopping experiences tailored to local and tourist markets.
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ST Engineering has reported a record-high orderbook and resilient margins, propelling its growth prospects. The company’s latest earnings for the first half of 2025 were in line with expectations, with the Defence & Public Security (DPS) segment surpassing margin forecasts. This performance is bolstered by robust revenue visibility, driven by growth in the Commercial Aerospace (CA) and DPS units, alongside expanding international defence orders amidst rising global defence spending.

The company’s target price has been revised to SGD9.10, up from SGD8.70, reflecting an 8% upside and a 2.2% yield forecast for the financial year 2026. Analyst Shekhar Jaiswal noted, “Record-high orderbook and solid revenue visibility, underpinned by growth in the Commercial Aerospace and DPS units, expanding international defence orders, and minimal exposure to trade tariffs reinforces the investment case in the stock.”

The company has also increased its earnings forecast for 2026 and 2027 by 3-4%, citing sustained margins in the CA and DPS segments beyond 2025. This adjustment includes a 4% premium for environmental, social, and governance (ESG) factors.

The announcement underscores ST Engineering’s strategic positioning in the global defence market and its ability to maintain strong financial performance despite external challenges. The company’s focus on expanding its international footprint and leveraging its core strengths in aerospace and defence continues to drive its growth trajectory. Looking ahead, ST Engineering’s robust orderbook and strategic initiatives are expected to sustain its growth momentum.
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Cordlife Group Limited has announced a significant revenue increase to S$19.2 million in the first half of 2025. This growth is attributed to the company’s intensified marketing efforts and strategic expansion of its medical ecosystem and overseas operations.

The company has been actively pursuing strategies to bolster its market presence and operational capabilities. By focusing on enhancing its marketing initiatives, Cordlife aims to reach a broader audience and strengthen its brand recognition. Additionally, the company is committed to fortifying its medical ecosystem, which is expected to improve service delivery and customer satisfaction.

Cordlife’s expansion into overseas markets is a key component of its growth strategy. By establishing a stronger international presence, the company seeks to tap into new opportunities and diversify its revenue streams. This approach not only supports the company’s financial growth but also positions it as a competitive player in the global market.

The financial results for the first half of 2025 reflect Cordlife’s successful implementation of these strategies. The company remains focused on sustaining this momentum through continued investment in marketing, medical services, and international operations. As Cordlife continues to expand, it is poised to further enhance its market position and deliver value to its stakeholders.
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Volkswagen Group Singapore has announced a partnership with FOMO Pay, a major payment institution headquartered in Singapore, to introduce digital currency payments for its vehicles and services. Customers can now use digital assets such as Bitcoin (BTC), Ethereum (ETH), and stablecoins like USDT and USDC to make payments. This initiative reflects Volkswagen’s commitment to providing more flexible and future-ready payment options, aligning with the growing adoption of digital currencies in Singapore.

The collaboration with FOMO Pay allows Volkswagen Group Singapore to support digital currency payments for both new vehicle purchases and aftersales services. Transactions are processed securely through FOMO Pay’s enterprise-grade gateway, ensuring compliance and real-time exchange rates. The payment system is designed to enhance the customer experience by offering speed, security, and global interoperability, with daily transaction limits set at $3,300 (SGD 4,500) and a cumulative cap of $9,900 (SGD 13,500).

Dr Kurt Leitner, Managing Director of Volkswagen Group Singapore, stated, “Our partnership with FOMO Pay aligns with our broader vision of delivering premium experiences powered by technology and innovation.” Rose Wang, Head of Digital Payments at FOMO Pay, added, “As Singapore advances towards becoming a smart financial centre, we believe digital assets will continue to play an important role in improving customer experience.”

This move not only modernises Volkswagen’s payment infrastructure but also supports Singapore’s vision of becoming a leading digital economy. By integrating digital payment tokens, Volkswagen Group Singapore is enhancing its customer journey, offering greater flexibility and inclusivity.
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The Singapore Convention Week 2025, organised by the Ministry of Law, is set to return from 25 to 29 August with an invigorated programme. Building on the success of last year’s event, which attracted over 5,600 participants globally, this year’s edition promises an expanded roster of partners and events, solidifying its status as a pivotal gathering for international dispute resolution experts.

This year’s programme features more than 50 partner organisations, including new collaborators such as the Japan Ministry of Justice, the Australian Centre for International Commercial Arbitration, and the Silicon Valley Arbitration & Mediation Centre. These partnerships highlight the event’s commitment to fostering a global dialogue on dispute resolution.

Participants can anticipate a dynamic week filled with conferences, workshops, and networking opportunities. Key highlights include the “Breaking with Convention” networking event at the historic CHIJMES, organised by the Ministry of Law, and the SIAC Symposium 2025 by the Singapore International Arbitration Centre. The symposium will feature a keynote speech by Edwin Tong, Minister for Law and Second Minister for Home Affairs, alongside discussions on innovation and ethics in international arbitration.

Other notable events include “Mediating Amidst Global Fractures” by the Singapore International Mediation Centre, which will explore mediation’s role in a multi-polar world, and “Building Bridges in ADR: MENA Meets Singapore” by the Singapore International Dispute Resolution Academy, focusing on alternative dispute resolution in the Middle East and North Africa.

Edwin Tong expressed gratitude for the continued support from the global legal and business community, emphasising the event’s role as a platform for dialogue and collaboration in shaping the future of international dispute resolution. For more information and updates, visit the official Singapore Convention Week website.
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Skechers, a global leader in lifestyle and performance footwear, has announced Tony Leung, the internationally acclaimed actor, as its newest brand ambassador for the Asia-Pacific region. Leung, known for his elegance in Hong Kong cinema, will front the “Explore Your Comfort” campaign, embodying Skechers’ philosophy of merging ease, style, and confidence into everyday life.

The campaign highlights Skechers’ signature innovations, including the Hands Free Slip-ins, GOwalk 8, and Max Cushioning Glide-Step technology, which feature breathable insoles, stable cushioning, and supportive midsoles. These products aim to offer consumers a seamless blend of comfort and style.

In Singapore, the campaign will be rolled out across 20 Skechers concept stores, outlets, and online platforms. It invites local consumers to embrace comfort as a lifestyle choice, whether commuting, enjoying weekend walks, or exploring the outdoors.

Zann Lee, Managing Director of Skechers Southeast Asia, is available for interviews to discuss the collaboration further. This partnership with Tony Leung is expected to enhance Skechers’ presence in the Asia-Pacific market, appealing to consumers seeking both style and comfort in their footwear choices.
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Docusign, the Intelligent Agreement Management company, has launched its latest AI-powered tools, including AI Contract Agents, at the Momentum 25 event in Singapore. These innovations, built on Docusign Iris, aim to streamline contract workflows and improve business outcomes across the Asia Pacific region. The tools were showcased for the first time in Asia, highlighting Docusign’s commitment to transforming agreement processes in the digital-first economy.

The new AI Contract Agents, set to be available in Singapore in 2026, automate laborious tasks such as vendor risk analysis and contract term verification, which traditionally required manual effort. Allan Thygesen, CEO of Docusign, stated, “With Docusign Iris and our new AI Contract Agents, we’re empowering businesses across Asia Pacific to achieve measurable improvements—from faster deal cycles to stronger compliance and enhanced customer experiences.”

The importance of efficient agreement management is underscored by a report from Docusign and Deloitte, which estimates that inefficient processes cost organisations globally $2 trillion annually, with Asia Pacific accounting for $600 billion. The report also notes that 77% of high-performing organisations attribute their success to effective agreement management, with AI tools reducing deal delays by 29% and cutting compliance risks by 21%.

Docusign Iris offers features that enhance every stage of the agreement lifecycle, from contract creation to signing and management. New offerings include the Agreement Desk, available in April 2026, and Workspaces, launching in December 2025, which provide secure environments for managing complex agreements. Additionally, enhancements to Navigator, now available for all English-speaking countries, offer advanced contract insights and reporting capabilities.

As businesses in Asia Pacific increasingly recognise the strategic importance of agreement processes, Docusign’s advancements aim to close the gap in AI-driven contract creation and security, helping organisations stay competitive in a rapidly evolving market.
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Moody’s Ratings has affirmed the Aa1 issuer and senior unsecured medium-term note programme ratings for PSA International Pte Ltd (PSAI) and its subsidiary, PSA Treasury Pte Ltd. The outlook for these ratings remains stable, underscoring the company’s robust financial profile and strategic importance to Singapore’s logistics and trading hub status.

The affirmation considers PSAI’s Baseline Credit Assessment (BCA) of a3 and the high likelihood of support from its parent, Temasek Holdings, which is wholly owned by the Singapore government. This support is crucial given PSAI’s role in consolidating Singapore’s position as a global logistics centre. PSAI’s diversified portfolio and strong market positions globally, particularly through its subsidiary PSA Corporation Limited, contribute to its resilience and profitability.

However, PSAI faces challenges from higher US tariffs and evolving trade policies, which may slow throughput growth in 2025. Despite these uncertainties, PSAI’s ports, especially in Singapore, are pivotal in adjusting global trade flows, providing a buffer against potential negative impacts.

Financially, PSAI’s adjusted funds from operations to debt ratio is expected to moderate but remain supportive of its rating. The company’s liquidity is bolstered by substantial cash holdings and a flexible capital investment programme, including the Tuas mega port development.

An upgrade of PSAI’s ratings is unlikely in the near term due to tariff uncertainties. Conversely, a downgrade could occur if shareholder support diminishes or if PSAI’s financial metrics weaken significantly. PSA Treasury’s ratings are directly linked to PSAI’s ratings due to existing guarantees.
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The Singapore Armed Forces (SAF) will be conducting military and live-firing exercises across various locations from 18 to 25 August 2025. These exercises will take place on the islands of Pulau Sudong, Pulau Senang, and Pulau Pawai, as well as in the Pasir Laba SAFTI Live-Firing Area and several other locations across Singapore, including Seletar, Marsiling, and Lim Chu Kang.

The SAF has issued a public advisory to avoid these areas and their surrounding waters during the exercise period. The exercises will involve the use of live ammunition, flares, blanks, and thunderflashes, which may result in loud noises. The public is urged not to be alarmed by these sounds.

Sea vessels navigating the Western Johor Straits are instructed to remain within the 75-metre Navigable Sea Lane to avoid entering the live-firing boundary. Trespassing into gazetted and SAF restricted areas is illegal and punishable by law, emphasising the importance of adhering to these safety measures.

The SAF assures that all necessary safety and control measures will be in place to ensure public safety during the exercises. The public is reminded to stay clear of prohibited waters off Changi Naval Base and Tuas Naval Base.

These exercises are part of the SAF’s routine training to maintain operational readiness and effectiveness. The SAF appreciates the public’s cooperation and understanding during this period.
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Bridge Specialty International (BSI) has appointed Abhishek Chhajer as the Chief Executive Officer of its Asian business, effective 1 August. Chhajer, who brings 25 years of experience in banking and insurance, will lead the growth and development of BSI’s operations across Asia from its platforms in Singapore and Hong Kong.

Chhajer will also serve as Director at Capstone Insurance Brokers, a BSI company based in Hong Kong. His appointment marks a strategic move by BSI to strengthen its presence in the region. Tim Coles, CEO of BSI, expressed enthusiasm about Chhajer’s appointment, stating, “His expertise and international experience will help us build our Asian presence, creating a regional hub in Singapore.”

David Ong, co-founder of Acorn International Network, will step down as CEO and transition to the role of Chairman. Ong has been instrumental in building Acorn into a strong local presence, providing a solid foundation for BSI’s expansion in Asia.

Acorn International Network, acquired by BSI in October 2024, is a licenced insurance broker regulated by the Monetary Authority of Singapore. It offers risk-management solutions and insurance brokerage services to corporates, SMEs, and high-net-worth clients. Capstone, acquired in April 2022, specialises in insurance for the financial services industry, including digital assets and aviation pilots.

BSI aims to leverage Chhajer’s leadership to become a leading speciality and wholesale broker in the Asia region, further expanding its footprint and services.
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