Industry News

Golden Agri-Resources Ltd (GAR) has announced a record high revenue of $6.2 billion for the first half of 2025, buoyed by a 19% increase in crude palm oil (CPO) market prices. The company’s integrated agribusiness model has enabled it to withstand market fluctuations, capitalising on higher plantation output despite reduced sales volumes.

The first half of 2025 saw GAR’s EBITDA grow by 14% year-on-year to $566 million, with a margin of 9.2%. The company’s underlying profit rose by 23% to $232 million, whilst net profit surged by 56% to $160 million, aided by lower interest expenses and reduced foreign exchange losses. GAR’s financial health is further reflected in its decreased gearing ratio and net debt to EBITDA, now at 0.61 times and 0.22 times, respectively.

GAR Chairman and CEO, Franky O. Widjaja, noted, “Favourable weather conditions have helped Indonesian palm oil to continue its recovery in 2025 in line with global vegetable oil supply trends.” He added that whilst global economic growth is slowing, there is a gradual improvement in palm oil demand, driven by staple food consumption and the implementation of the B40 biodiesel policy.

In the upstream segment, GAR’s yield intensification efforts and favourable weather conditions led to a 9% increase in fresh fruit bunch productivity, reaching 8.8 tonnes per hectare. This resulted in a total of 4.4 million tonnes of fresh fruit bunches. The downstream segment, despite a 2% dip in sales volume, saw a 20% increase in revenue to $6.1 billion, although EBITDA decreased by 13% due to weaker refining margins.

GAR continues to advance its sustainability ambitions through its “Collective for Impact” initiative, embedding environmental, social, and governance (ESG) principles into its operations. The company has introduced a new Responsible Agri-Commodity Sourcing Policy and expanded community programmes to enhance food security and climate resilience.
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Singapore-listed Alpina Holdings Limited has announced a significant financial upturn, reporting a net profit of S$2.7 million for the first half of 2025, marking a 239.6% increase compared to the same period last year. This surge in profitability is attributed to a robust performance in its integrated building services (IBS) segment and increased rental income from investment properties. The company has also proposed an interim dividend of 1.0 Singapore cent per share, representing 69.4% of the net profit attributable to shareholders.

The company’s revenue grew by 8.7% to S$47.9 million, driven by a 29.2% increase in the IBS segment and an 87.8% rise in rental income. Gross profit margins improved by 3.6 percentage points to 13.0%, as contracts secured before the COVID-19 pandemic, which had lower margins, were completed. Consequently, gross profits rose by 50.5% to S$6.2 million.

Alpina’s Executive Chairman and CEO, Low Siong Yong, expressed satisfaction with the results, stating, “Building on the positive momentum from FY2024, we are pleased to start the new financial year on a strong footing, with increased profitability and resilient cash flow generation.”

The company’s balance sheet has strengthened, with total assets and equity rising to S$83.6 million and S$32.3 million, respectively, as of 30 June 2025. The proposed dividend marks Alpina’s largest payout since its listing in 2022, underscoring its commitment to rewarding shareholders.
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Mainboard-listed Nera Telecommunications Ltd (NeraTel) has announced a revenue of $44.7 million for the first half of 2025, despite facing significant market headwinds. The technology integrator also reported a net loss of $1.8 million, largely due to a $1.4 million adverse foreign exchange impact and $0.7 million in strategic restructuring costs. These efforts are part of a broader strategy to bolster the company’s foundation for future growth.

The company achieved a notable $2.2 million reduction in operating expenses, marking a 20% improvement through effective cost management and operational streamlining. NeraTel’s balance sheet remains robust, with a cash position of $10.2 million, which positions the company well for future investments and innovation.

Order intake for the period was $40.3 million, a significant decrease of 47.5% compared to the same period last year. However, NeraTel’s strategic transformation, in collaboration with Ennoconn Corporation, continues to gain momentum, unlocking long-term growth opportunities in high-demand areas.

Steve Chu, Chairman of NeraTel, commented on the company’s resilience and strategic direction: “Whilst market conditions remain volatile, NeraTel continues to demonstrate agility and resilience. Our strategic partnership with Ennoconn Corporation continues to build momentum, unlocking new opportunities in integrated technology solutions, and we are committed to driving transformation and innovation across our business segments.”

Looking ahead, NeraTel’s strategic initiatives and strong cash position are expected to support its ongoing transformation and innovation efforts, paving the way for long-term growth.
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Singapore-listed Nam Cheong Limited has reported a stable core profit of RM80.4 million for the first half of 2025, despite facing an 11% year-on-year decline in revenue, which totalled RM278.2 million. The decrease in revenue was primarily due to lower vessel utilisation as the fleet prepared for the start of secured long-term charters.

The company saw its gross margin increase by 4 percentage points to 51%, attributed to reduced vessel maintenance costs. Nam Cheong anticipates an improvement in vessel utilisation in the second half of 2025 as long-term charters begin. The company is committed to a fleet deployment strategy that aims for 70% long-term charter coverage to ensure resilience and stability, whilst maintaining 30% exposure to spot charters to capitalise on potential market opportunities.

The financial results also highlighted a significant drop in other income, which fell by 99% compared to the same period last year. Despite this, the company managed to keep its operating profit at RM119.4 million, although this represents an 82% decrease from the previous year. The profit before tax was RM114.2 million, down 83% from the previous year.

Looking ahead, Nam Cheong remains focused on its strategic goals amidst macroeconomic challenges, aiming to enhance its operational efficiency and market position through its charter strategy. The company’s approach is designed to balance stability with the flexibility to seize market opportunities as they arise.
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UOL Group has announced its acquisition of Varley Park, a student accommodation complex in Brighton, UK, for £43.5 million. This marks the Singapore-based company’s first venture into the student housing sector, a market experiencing significant growth in the UK due to increasing student numbers and a supply-demand imbalance.

Varley Park, located in Brighton, comprises 771 operational beds spread across 22 blocks. The acquisition aligns with UOL’s strategy to diversify its investment portfolio and tap into the resilient income streams offered by student accommodation. The sector has shown robust growth, driven by a burgeoning student population and the consistent demand for quality housing options.

The move into the student accommodation market is a strategic step for UOL, as the UK continues to attract international students, bolstering the demand for student housing. The acquisition of Varley Park not only expands UOL’s geographical footprint but also positions the company to capitalise on the stable returns associated with the sector.

As UOL embarks on this new venture, the company is poised to explore further opportunities within the student accommodation market, leveraging its expertise in property development and management to enhance its offerings. This acquisition could pave the way for future investments in similar assets, reinforcing UOL’s commitment to growth and diversification.
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JTC has announced the awarding of the industrial site at Ubi Avenue 1 to AL Tyres Pte Ltd, following a tender process that concluded on 8 July 2025. The site was secured with a bid of $12,889,000, the only bid received after the tender was launched on 29 April 2025.

The awarded land parcel, located at Ubi Avenue 1, is zoned for Business 2 use, covering an area of 6,103.3 square metres. The site comes with a tenure of 23 years and a gross plot ratio of 2.5, allowing for significant development potential. The project is expected to be completed within 60 months, providing ample time for AL Tyres to establish its operations.

This development is a notable addition to Singapore’s industrial sector, as it highlights the ongoing demand for industrial spaces in strategic locations. The successful bid by AL Tyres underscores the company’s commitment to expanding its footprint in the region.

The tender process, managed by JTC, reflects the organisation’s role in facilitating industrial growth and development in Singapore. By awarding this site, JTC continues to support businesses in their expansion efforts, contributing to the broader economic landscape.

As AL Tyres prepares to develop the site, the project is anticipated to bring new opportunities and advancements to the area, aligning with Singapore’s industrial growth objectives.
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The Learning Lab, a prominent enrichment provider in Singapore, has launched a 3D bus wrap to commemorate the nation’s 60th anniversary of independence. This initiative, in collaboration with Moove Media, will see the bus travel along SBS Transit’s Service 21 route from 5 July to 6 October 2025, strategically chosen to pass by many of The Learning Lab’s centres in the East and Central regions.

The bus wrap, featuring the tagline “Learning and Growing, Together with Singapore,” is designed to inspire curiosity and a love of learning. It transforms the bus into a moving classroom, adorned with educational motifs and iconic Singapore landmarks such as Marina Bay Sands and Gardens by the Bay. Fiona Tan, Associate Director of Marketing & Communications at The Learning Lab, stated, “The 3D SG60 Bus is a vibrant tribute to Singapore’s journey, and we’re proud to be part of it.”

This initiative is part of a broader campaign that includes specially developed National Day curriculum materials, aligning with the Ministry of Education’s learning outcomes. Students will explore themes of innovation and national identity, enhancing their understanding of Singaporean culture through real-world connections.

Founded in 2001, The Learning Lab offers a range of academic and enrichment programmes from Nursery 2 to Junior College 2, focusing on critical thinking and future readiness. With nine centres across Singapore, the organisation continues to support students’ educational journeys both in and beyond the classroom.
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Xero, a global small business platform, has unveiled research highlighting the significance of celebrating milestones for small businesses in Singapore. The study found that 59% of small businesses in Singapore recognise the importance of celebrating achievements, yet 18% refrain due to financial constraints or a lack of significant milestones.

The research revealed that businesses celebrating milestones experienced a 30% increase in revenue, compared to 19% for those that did not. In Singapore, celebrating milestones positively impacted employee morale (87%), wellbeing (85%), and performance (84%). Despite these benefits, only 54% of Singapore business owners reported reaching a milestone in the past year, with 23% achieving one over three years ago.

Singaporean business owners identified key milestones such as being able to pay themselves (41%) and receiving positive reviews (36%). Karina Cady, CEO of Nandina REM, shared her experience of celebrating milestones, recalling the joy of holding reclaimed carbon fibre for the first time. She emphasised the importance of creating a positive workplace culture through simple celebrations like potluck dinners.

Over the past year, Singapore small businesses spent an average of $6,200 (S$8,451) on celebrations, more than double the global average. However, Cady noted that meaningful celebrations do not require large expenditures, highlighting the value of team bonding activities.

The research, conducted by Xero and facilitated by One Picture, surveyed 2,300 small business owners across seven markets, including Singapore. The findings underscore the importance of recognising and celebrating business achievements to enhance productivity and morale.
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Competitive entertainment company BLAST has announced a significant multiyear partnership with the Singapore Tourism Board (STB) to host four premier esports arena events in Singapore. This collaboration aims to solidify Singapore’s position as a leading destination for competitive gaming and live entertainment in Asia and globally.

The partnership follows the successful BLAST Premier World Final in 2024, which marked BLAST’s debut in Southeast Asia and drew a sold-out crowd at the Resorts World Convention Centre. Building on this momentum, BLAST will return to Singapore in November for the BLAST Dota Slam Singapore, the company’s first-ever Dota 2 arena event. Scheduled for 7-9 November 2025 at the Singapore Indoor Stadium, this tournament will feature top Dota 2 teams competing for a $1m prize pool.

Leo Matlock, Chief Business Officer at BLAST, expressed enthusiasm about the long-term commitment to the region, stating, “Singapore delivered one of the most passionate and engaged esports crowds we’ve ever seen.” Jean Ng, Assistant Chief Executive at STB, highlighted the economic benefits, noting that large-scale international esports events create significant opportunities for the local tourism ecosystem.

The multiyear agreement is expected to generate tens of millions in economic impact for Singapore through visitor spending, job creation, and international exposure. Singapore will join a global esports calendar that includes cities like London, Lyon, and Rio, further enhancing its reputation as an esports powerhouse in Asia. Fans can sign up at BLAST.tv for ticketing updates and exclusive news on future events.
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Felicity, an AI-enabled gametech company renowned for its high-performing gaming titles, has announced the opening of its new office in Singapore, marking a significant expansion into Southeast Asia. The Singapore entity, Felicity Labs Pte Ltd, will serve as the company’s regional headquarters, focusing on acquisitions and operations to achieve a twofold growth by March 2026.

The strategic move is designed to bolster Felicity’s presence in high-growth markets such as Vietnam and Thailand, aiming to increase its regional user base to over 2 million. This expansion will enable Felicity to deepen its collaboration with developers and creators in one of the world’s fastest-growing game development ecosystems. Anurag Choudhary, Founder and CEO of Felicity, stated, “APAC is home to 1.5 billion gamers and a $70b market, becoming one of the fastest-growing regions globally, and we see this as a pivotal opportunity to build the future of gaming in the region.”

Felicity plans to invest $1m over the next 12 to 18 months to build a robust leadership team, expand its talent pool, and enhance market penetration across the Asia-Pacific region. With existing operations in India and Türkiye, the company aims to acquire intellectual properties, expand its talent and player base, and form a regional developer network.

Having raised $37m across two funding rounds, Felicity is well-positioned to leverage its new Singapore base to drive innovation and growth, further solidifying its global footprint in the gaming industry.
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