Industry News

Yangzijiang Maritime Development Ltd. has announced the sale of four newbuild bulk carriers, each approximately 40,000 deadweight tonnes, with deliveries scheduled between April 2027 and May 2028. This move is part of the company’s broader strategy to monetise maritime assets, having entered into contracts to sell a total of 12 newbuild vessels for an aggregate value of $500m over the past nine months.

The company, a prominent maritime financial solutions provider, also reported the delivery of the first of four medium-range tankers, initially announced in November 2025 with a total contract value of $180m. The first tanker was delivered on 30 July 2026, with subsequent deliveries expected in November 2026 and throughout 2027.

Ren Yuanlin, Executive Chairman and CEO of Yangzijiang Maritime, highlighted the company’s strategic focus on asset monetisation. “Our ability to consistently originate, invest, monetise, and recycle maritime assets is central to the Group’s long-term growth strategy and a core differentiator of Yangzijiang Maritime,” he stated. He emphasised the repeatability of their business model, which allows the company to crystallise value at optimal market points and reinvest capital into new opportunities.

These transactions are anticipated to positively impact the Group’s financial performance in the fiscal years 2026, 2027, and 2028, contingent on delivery schedules and accounting recognition. Yangzijiang Maritime continues to position itself as a key player in the global maritime industry, leveraging its strategic partnerships and diversified investment portfolio.

StarHub has announced an expanded partnership with MyRepublic Mobile, transitioning all MyRepublic Mobile subscribers onto StarHub’s 4G and 5G network. This move builds on their existing Mobile Virtual Network Operator (MVNO) 5G partnership established in 2022 and follows StarHub’s acquisition of MyRepublic Broadband last year.

The integration aims to enhance the network experience for MyRepublic Mobile customers, who will be contacted directly with details about the migration process. StarHub assures that dedicated customer support will be available to ensure a smooth transition.

Nikhil Eapen, CEO of StarHub, stated, “With this step, we further extend our material lead in revenue market share as Singapore’s strong number two mobile operator. We have also taken another step towards leading the ongoing consolidation of Singapore’s telecommunications market.”

Matt Williams, CEO (designate) and Chief of Consumer Business Group at StarHub, added, “Together with the migration of redONE subscribers to eight on the StarHub network, this builds greater scale across our business.”

Vaughan Baker, CEO of MyRepublic, commented, “The ability to enable our 4G customers to experience a service underpinned by StarHub’s network, just as our 5G customers do today, reflects the further strengthening of the quality of partnership between our two organisations.”

MyRepublic Mobile customers will continue to enjoy seamless access to StarHub’s nationwide network throughout the transition, with no immediate action required from them. This strategic move is part of StarHub’s multi-brand strategy to offer distinct services catering to different customer needs, further consolidating its position in Singapore’s telecommunications market.

Leasing activity in Singapore’s private residential market saw a 5.1% increase quarter-on-quarter in Q2 2026, with 22,290 rental contracts commencing, according to Savills Singapore. Despite the rise in demand, rental growth was not uniform across regions, with varied performances in the Core Central Region (CCR), Rest of Central Region (RCR), and Outside Central Region (OCR).

The non-landed segment was the primary driver of growth, with rental transactions climbing by 5.4% quarter-on-quarter. The CCR and RCR each recorded a 5.7% increase, whilst the OCR saw a 4.8% rise. On a yearly basis, the non-landed private residential market expanded for the ninth consecutive quarter, led by a 6.0% increase in the OCR.

Treasure At Tampines emerged as the most actively leased development, surpassing Normanton Park, which fell to second place. Newly completed Tembusu Grand entered the rankings in third place. Marina One Residences and The Sail @ Marina Bay completed the top five.

Rental performance diverged, with the CCR experiencing a 1.2% increase in rents, driven by demand for smaller flats. In contrast, rents in the RCR remained flat, and the OCR saw a slight decline of 0.3%. Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, noted that whilst economic growth is expected to outperform forecasts, factors such as multinational corporations’ cash flow trends and policy changes may limit benefits to the leasing market. Consequently, private residential rents are expected to remain broadly flat in 2026.

Knight Frank Singapore has successfully advised CapitaLand Ascott Trust on the acquisition of Coliwoo Midtown for S$134m. The transaction, managed by Knight Frank’s capital markets team, underscores the robust investor interest in Singapore’s living sector, particularly for prime, institutional-quality assets.

Melvin Chay, Senior Director of Capital Markets at Knight Frank Singapore, commented on the significance of the deal: “This transaction reflects the continued depth of investor interest in Singapore’s living sector, particularly for well-located, institutional-quality assets. Beyond the transaction itself, it demonstrates the importance of trusted relationships and market connectivity in originating opportunities that are not publicly marketed.”

The acquisition of Coliwoo Midtown, a strategically located asset, is expected to enhance CapitaLand Ascott Trust’s portfolio, offering potential for growth in the competitive Singapore market. This move aligns with the trust’s strategy to invest in high-quality properties that promise stable returns.

The deal highlights the ongoing appeal of Singapore’s real estate market to investors, driven by the city’s strategic location and economic stability. As the demand for living spaces continues to rise, such transactions are likely to become more frequent, reflecting the sector’s resilience and potential for future growth.

All-Link Air & Sea Limited has successfully launched its trading on the Singapore Exchange (SGX) Mainboard on 5 August 2026, under the ticker symbol “ALK”, following its initial public offering (IPO). The company raised approximately S$20.1m, with the IPO comprising 35,824,500 shares through placement and 2,100,000 shares via public offer, priced at S$0.53 each.

The logistics solutions provider, headquartered in Singapore, plans to use the proceeds to expand its operations across ASEAN, focusing on Vietnam and Thailand. The company has a call option over a 30% interest in All-Link Vietnam, which it expects to exercise within a year. The expansion is part of All-Link’s strategy to diversify its customer base, which saw a significant shift with TikTok Group’s revenue contribution dropping from 98% in FY2024 to 45.4% in FY2025, whilst a new US-listed tech customer accounted for 33.6%.

All-Link’s CEO, Peter Neo, expressed optimism about the company’s growth prospects, stating, “We are heartened by the confidence investors have placed in All-Link… The proceeds from this listing will allow us to deepen our network, invest in our digital capabilities and pursue opportunities that build long-term value.”

The company also plans to enhance its presence in Malaysia and the Philippines, which together contributed 9.6% of FY2025 revenue, up from negligible levels previously. All-Link’s asset-light model and strategic partnerships, such as the Non-Compete and Collaboration Deed with All-Link PRC, are expected to support its growth in the evolving trade landscape.

Singapore-led HeartSpan.ai has achieved a significant milestone by facilitating Indonesia’s first successful implantation of the world’s smallest and lightest left ventricular assist device (LVAD). This was accomplished through a collaboration with Dr Cipto Mangunkusumo National Central General Hospital (RSCM) in Jakarta and Fuwai Hospital in Beijing. The procedure, completed on 1 August, marks the first successful use of the device in Southeast Asia, offering new hope to patients with advanced heart failure.

The initiative is part of HeartSpan.ai’s broader strategy to establish a regional model that integrates advanced medical technology with specialist expertise, structured clinical training, and a medical knowledge-sharing cloud. This model aims to enable hospitals across Southeast Asia to adopt advanced heart failure therapies effectively.

Dr Wei Siang Yu, Founder of HeartSpan.ai, emphasised the innovative nature of the project, stating, “We are creating an IP-led healthcare model that brings together medical technology, clinical protocols and procedures, specialist know-how, training, agentic AI and a medical knowledge-sharing cloud into one scalable platform.”

The successful implantation was performed on a 45-year-old woman with advanced heart failure, demonstrating the potential for hospitals to sustain such therapies independently. Dr Supriyanto Dharmoredjo, President Director of RSCM, highlighted the achievement’s significance, noting that it brings new hope to patients who previously had limited treatment options.

HeartSpan.ai’s initiative aligns with Singapore’s S$37b RIE2030 plan, which focuses on advancing biomedtech and translating research into practical healthcare solutions. As the company expands its model across the region, it aims to position Singapore as a hub for deploying healthcare technologies and clinical models.

Singapore’s residential leasing market maintained strong demand in the second quarter of 2026, with 22,290 rental contracts for private residential properties commencing, marking a 5.1% increase from the previous quarter, according to Savills. Despite this growth, rental prices remained relatively stable due to budget constraints faced by tenants.

The Urban Redevelopment Authority’s (URA) rental index for non-landed private residential properties saw a modest increase of 0.4% quarter-on-quarter. Meanwhile, Savills reported a 1.4% rise in average monthly rents for high-end non-landed residential properties. However, the overall vacancy rate for completed private residential properties rose to 6.4% during the same period, indicating a potential oversupply in the market.

Singapore’s economic growth is projected to surpass the official forecast of 2% to 4% for 2026. Nevertheless, the impact on the residential leasing market may be limited. Mixed free cash flow trends among multinational corporations could restrict expatriate deployments, whilst the removal of the 15-month wait-out period for private homeowners transitioning to Housing Development Board (HDB) flats may reduce domestic leasing demand.

Savills maintains its outlook that private residential rents will remain broadly flat throughout 2026, despite the economic growth and increased rental transactions. The market dynamics suggest that whilst demand is robust, financial constraints and policy changes are influencing rental price stability.

CGS International Securities Singapore has unveiled the CGS Fullgoal Singapore Next 50 Active ETF, marking the first exchange-traded fund (ETF) benchmarked to the iEdge Singapore Next 50 Index. The ETF, priced at S$1.00 per share, is available for subscription until 26 August 2026, with an anticipated listing on the SGX Main Board on 3 September 2026 under the stock code Q50.

The ETF is the sole Singapore-focused actively managed equity ETF on SGX, providing retail investors with a single-trade entry into the Next 50 segment. This segment, characterised by thinner analyst coverage and wider return dispersion compared to blue chips, benefits from active stock selection. The fund employs a six-factor quantitative model from Fullgoal Asset Management to identify companies with robust fundamentals and growth potential.

The iEdge Singapore Next 50 Index represents a market capitalisation of approximately S$110b, yet it remains under-researched compared to the STI. “Most Singapore portfolios mirror the STI, which is concentrated in banks. Q50 complements those holdings,” said James Ong, Group Head of Asset Management at CGS International.

The ETF’s active management model, rebalanced monthly, invests at least 80% in Next 50 constituents, with up to 20% allocated to other SGX-listed companies. Li Xiaowei, Deputy General Manager at Fullgoal Fund Management, emphasised the robustness of their multi-factor framework, stating, “We believe these principles are robust and transferable across different market environments.”

Investors are encouraged to review the prospectus before investing.

DBS Group has announced a record net profit of S$3.08b for the second quarter of 2026, marking a 9% increase from the previous year. The bank’s total income rose by 6% to reach a new high of S$6.09b, despite facing a challenging interest rate environment. This growth was largely attributed to higher non-interest income and the structural expansion of its customer franchise.

The bank’s fee income remained near record levels, whilst treasury customer sales hit a new peak, bolstered by sustained momentum in wealth management. Notably, assets under management in the Wealth segment exceeded S$500b for the first time. Although group net interest income experienced a slight decline due to lower interest rates, strong loan and deposit growth, along with proactive hedging, mitigated much of the impact. The cost-income ratio stood at 39%.

For the first half of 2026, DBS reported total income and net profit increases of 3% and 5%, respectively, reaching new highs of SGD 12.0 billion and SGD 6.01 billion. The bank’s return on equity was 17.5%, with a return on tangible equity of 19.2%.

DBS CEO Tan Su Shan highlighted the bank’s robust performance, stating, “We delivered a strong set of results for the first half, anchored by the strength of our wealth management franchise.” She also noted the completion of DBS’s inaugural synthetic securitisation transaction, enhancing the bank’s capital management capabilities.

Looking ahead, DBS remains confident in its ability to capture growth opportunities, supported by a strong balance sheet, sound asset quality, and healthy allowance reserves.

The Assembly Place Holdings Ltd. (TAP) has announced a joint venture to redevelop a prime freehold residential property at 50 Jalan Harom Setangkai in Singapore’s District 10. The project aims to transform the site into five terrace houses, marking one of the first new terrace residential projects in the Bukit Timah area in many years. The redevelopment is expected to launch for sale in the fourth quarter of 2026.

The joint venture, conducted through the newly formed 50 JHS Pte. Ltd., sees TAP holding a 10% equity stake. TAP will also serve as the project manager, overseeing redevelopment works and managing sales and marketing strategies, earning project management and related fees in the process.

Eugene Lim, Executive Director and CEO of TAP, stated, “This joint venture reflects our continued commitment to pursuing disciplined growth through strategic partnerships with experienced investors in the property market.” He emphasised the rarity and value of the opportunity to develop new landed housing in such a sought-after location.

This initiative aligns with TAP’s strategy of leveraging an asset-light, co-investment model to expand its business platform beyond its core community living operations. The company has previously demonstrated its capabilities in landed residential developments with projects like The Springleaf Collection in District 26.

The redevelopment project not only strengthens TAP’s business pipeline but also reinforces its reputation in the property development sector, offering a fresh, thoughtfully-designed residential option in a highly desirable area.