Industry News

Noah Holdings Limited and ARK Wealth Management hosted their inaugural Global Chinese Wealth Management and Inheritance Summit on 1 August 2025 at the Ritz-Carlton in Singapore. This event marked Noah’s first major international gathering since establishing its overseas headquarters in Singapore earlier this year. The summit, attended by approximately 500 investors, executives, and academics, featured nearly 30 speakers discussing key financial themes, including macroeconomic trends and multigenerational wealth transfer.

The summit coincided with Singapore’s 60th anniversary of independence, highlighted by a charity concert by the Noah Philharmonic Orchestra at the Esplanade – Theatres on the Bay. Jingbo Wang, co-founder and chairwoman of Noah Holdings, emphasised the significance of hosting the summit in Singapore, describing it as a tribute to the city-state’s role as a global financial hub and a reaffirmation of Noah’s commitment to global Chinese investors.

Zander Yin, CEO of Noah Holdings, noted the strategic importance of Singapore as a hub for cross-border discussions on wealth management. He stated, “As global Chinese investors face rising uncertainty, we believe strategic asset allocation, technological alignment, and adopting a long-term view will define the next chapter in responsible wealth management.”

Renowned speakers, including Jim Rogers and Professor Danny Quah, shared insights on navigating a fractured global economy and Asia’s growing role in the global order. The summit also featured a prerecorded discussion with Nassim Nicholas Taleb, who advised on resilience in wealth structures through decentralisation and low leverage.

ARK Wealth released its H2 2025 CIO Report, highlighting a shift from inflation-hedged asset allocation to a technology-deflation paradigm. The summit’s success underscores Noah’s commitment to serving global Chinese investors with sophisticated wealth management strategies.
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A vibrant celebration of Singapore’s 60th anniversary unfolded at Jewel Changi Airport’s Forest Valley on 1 August 2025, as over 1,200 music enthusiasts gathered for the SG60 Homecoming Concert. The event featured a star-studded line-up of local music icons, including Stefanie Sun and Kit Chan, who led the audience in a nostalgic singalong of beloved National Day songs.

The concert opened with youth talents from MADDspace Performing Arts Studio, who energised the crowd with performances of Stefanie Sun’s “Green Light” and JJ Lin’s “Whenever”. Pop-rock band SuperSonic followed, delivering crowd favourites like Bon Jovi’s “It’s My Life” and ABBA’s “Dancing Queen”, culminating with the 2015 National Day theme song “Tomorrow’s Here Today”.

Regina Song charmed the audience with her hit “The Cutest Pair” and a cover of Taylor Swift’s “You Belong With Me”. Sezairi, a former Singapore Idol alumnus, captivated with his 2021 National Day hit “The Road Ahead” and soulful singles “Kata” and “It’s You”.

Mandopop duo The Freshman kept spirits high with their acoustic flair, whilst Kit Chan delivered an iconic moment with her 1998 National Day classic “Home”. Stefanie Sun closed the evening with her uplifting 2002 National Day hit “We Will Get There”.

The concert concluded with a visual spectacle at Jewel’s Rain Vortex, featuring projections of iconic Singaporean symbols, providing a fitting end to the evening’s celebrations.
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Precision engineering firm UMS Integration Limited has successfully launched its secondary listing on the Main Market of Bursa Malaysia Securities, marking a significant milestone as the first Singapore-listed company to do so. The debut, which took place on 1 August, saw UMS shares open at RM5.15, equating to a market capitalisation of RM3.66 billion (S$1.09 billion).

The company, which remains primarily listed on the Singapore Exchange, aims to broaden its investor base and enhance trading liquidity through this strategic move. UMS CEO Luong Andy highlighted the benefits of the secondary listing, stating, “Our Secondary Listing here allows us to broaden our investor base, improve trading liquidity through separate trading platforms, and provide flexibility to access different equity markets to raise funds in the future.”

UMS, known for its high-precision components in the semiconductor industry, is looking to climb the semiconductor value chain by expanding its production of higher-value precision components. Luong expressed optimism about the company’s future, noting the opportunities in advanced packaging solutions.

The listing also reflects UMS’s strong performance, with its market capitalisation growing by nearly 50% since the start of the year. The company has been recognised in the Forbes Best under a Billion list and has received accolades such as the Centurion Club Award 2023.

UMS’s expansion into the Malaysian market is expected to unlock further value for shareholders and enhance the liquidity of its shares, as the company continues to strengthen its position as a comprehensive service provider for global chip companies.
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Fresver Beauty, a well-established name in Singapore’s wellness and facial care sector, has relocated its Tampines outlet to a larger space in Simei. Officially opened on 23 July 2025, the new location aims to accommodate the growing demand for personalised wellness services in the East, enhancing customer comfort and service delivery.

The new Simei outlet, surrounded by essential amenities such as supermarkets and eateries, offers nine treatment rooms, allowing for increased capacity and improved scheduling flexibility. This strategic move is designed to provide a seamless and comfortable experience for customers, including airline service crew members who value the outlet’s accessibility and tranquil environment.

“This relocation wasn’t just a change in address—it was a strategic move to serve our customers better,” said a spokesperson from Fresver Beauty. The new space is designed to deliver elevated wellness experiences, with calming interiors and modern facilities.

Longtime client Caroline, who has been with Fresver Beauty for over 12 years, praised the new outlet, stating, “It’s spacious, peaceful, and incredibly convenient. Every visit feels like a treat.”

Fresver Beauty, established in 1988, continues its commitment to evolving with the needs of its community, offering holistic beauty solutions that restore, renew, and uplift. The brand is known for its personalised, results-driven treatments, blending expert techniques with high-quality skincare products.
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The Singapore Maritime Foundation has launched the 6th MaritimeONE Case Summit, challenging tertiary students to devise tech-driven solutions for the maritime sector. The summit, supported by ARROW Asia, the Maritime and Port Authority of Singapore, NorthStandard, and Ocean Network Express, encourages students from Singapore’s universities and polytechnics to address real-world challenges in maritime, business, technology, and sustainability.

Participants will form teams of two to four and choose from four challenge statements, each focusing on different aspects of the maritime industry’s digital and green transformation. These include strategies for a future-ready workforce, tech-driven market intelligence solutions, and applications for the Maritime Digital Twin—a virtual model of the port.

The competition offers students industry exposure, mentorship, and the chance to win cash prizes. Finalists will present their solutions at the Grand Finals on 14 November 2025. Hor Weng Yew, Chairman of the Singapore Maritime Foundation, highlighted the summit’s role in nurturing maritime talent, stating, “The MaritimeONE Case Summit is a key platform for Singapore’s tertiary youths to apply critical thinking, creativity, and cross-disciplinary insights.”

Philipp Schulte-Westhof, Managing Director of ARROW Asia, emphasised the importance of nurturing young talent, whilst Ang Wee Keong, Chief Executive of the Maritime and Port Authority of Singapore, expressed anticipation for innovative solutions using the Maritime Digital Twin. David Roberts of NorthStandard and Jeremy Nixon of Ocean Network Express also underscored the summit’s significance in addressing industry challenges and inspiring future maritime professionals.
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Royal Caribbean has announced an exciting collaboration with electric vehicle manufacturer BYD, offering Singapore residents the chance to win a BYD Sealion 7 when they book a cruise between 1 August and 1 October 2025. Each cruise booking during this period grants an entry into a lucky draw for the grand prize.

This partnership between Royal Caribbean and BYD highlights both companies’ dedication to innovation and delivering exceptional experiences. Chad Grospe, Vice President of APAC for Royal Caribbean, expressed enthusiasm about the collaboration, stating, “From discovering new horizons at sea to hitting the road in style, we are both in the business of creating memorable journeys.”

The campaign was launched with an event at the BYD flagship showroom on 31 July 2025, showcasing the BYD Sealion 7. Key figures from both companies, including Wendy Yamazaki, Diane Chiang, and James Ng, were present at the event.

The winner of the electric car will be notified in October 2025. This initiative not only enhances the appeal of booking a cruise with Royal Caribbean but also promotes sustainable travel options through the use of electric vehicles. For more details on the collaboration and available sailings, interested parties can visit Royal Caribbean’s official website.
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EcoSwift has launched Singapore’s first Battery Charge and Swap Station (BCSS) for heavy electric vehicles, marking a significant step in the nation’s electrification efforts. The station, unveiled at EcoSwift’s headquarters, is fully automated and operational around the clock, allowing for seamless battery swapping in just five minutes. This innovation is expected to accelerate the adoption of electric vehicles (EVs) in the commercial transport sector by reducing vehicle downtime and addressing urban space constraints.

The BCSS supports EcoSwift’s SANY EV490 electric prime mover, which features a 350kWh battery offering over 240km of range. The station’s compact design requires only 1,550 square feet, supporting up to 60 lorries, compared to the 25,000 square feet needed for 30 fast chargers. This represents a 93% reduction in land usage, making it a viable solution for fleet operators facing space limitations.

EcoSwift’s initiative aligns with several goals of the Singapore Green Plan 2030, including carbon reduction and grid efficiency. Each SANY EV490 lorry can save up to 36 tonnes of CO₂ annually, cutting emissions by more than 54% compared to diesel models. The BCSS also helps distribute power usage throughout the day, reducing peak-load strain on the electricity grid.

Ryan Woon, Founder and CEO of EcoSwift, stated, “With the BCSS, we are cementing our position as pioneers of sustainable transport in Singapore.” The company plans to expand its BCSS footprint across the island and introduce mobile swap capabilities, further supporting the transition to zero-emission transport.
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OH!SOME, a trendy one-stop retail brand, has launched its first store in Thailand at Samyan Mitrtown, Bangkok. This new venture is part of OH!SOME’s innovative approach to retail, featuring a unique and immersive visual concept. The Bangkok store is themed as an “ice and snow world,” designed to captivate the city’s trend-savvy youth and attract influencers.

The brand’s strategy has already seen success in Singapore and Malaysia, where similar thematic stores have driven significant foot traffic. OH!SOME’s expansion into Bangkok is bolstered by exclusive intellectual property collaborations, such as a denim-inspired Mickey Mouse collection with Disney, which aims to further entice consumers.

In addition to its thematic retail spaces, OH!SOME plans to introduce interactive experiences, including DIY workshops, to engage customers further. This approach not only enhances the shopping experience but also positions OH!SOME as a pioneering force in the Southeast Asian retail market.

Meta Wajanasikorn, Retail Store Manager at OH!SOME Thailand, is optimistic about the brand’s expansion strategy, which includes plans for more stores in the region. The Bangkok launch serves as a case study in how new-age retail brands can successfully penetrate key markets by offering unique and engaging shopping experiences.

As OH!SOME continues to expand its footprint, the brand’s innovative retail concepts are expected to set new standards in the industry, potentially influencing how other retailers approach store design and customer engagement in the future.
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BOSS Fragrances has partnered with Lunì, Southeast Asia’s first scent bar, to offer a unique sensory experience through five bespoke cocktails inspired by BOSS The Collection fragrances. From 1 August to 7 September 2025, patrons can enjoy these exclusive drinks at Lunì – Scent, Bar & Kitchen in Singapore.

The collaboration merges the worlds of perfumery and mixology, with Lunì known for its innovative cocktail menus inspired by various scents. Each cocktail, priced at $28, draws from the ingredients of BOSS The Collection, providing a multi-sensory journey that evokes emotion and memory.

The cocktail menu features two drinks based on newly launched fragrances: Exhilarating Vanilla, an Old Fashioned with vanilla extracts, and Fearless Pepper, a smoky Old Fashioned infused with smoked pepper. Additionally, Wild Violet offers a floral highball infused with rosewater. The menu also includes cocktails based on best-selling fragrances: Invincible Bergamot, a refreshing Whisky Sour, and Sensual Geranium, a fragrant Collins garnished with scented geraniums.

Guests purchasing any drink from the collaborative menu will receive a complimentary vial from BOSS The Collection, whilst stocks last, and a 15% discount on BOSS fragrances at Metro, Paragon.

BOSS The Collection, known for its luxurious and versatile fragrances, mirrors the essence of modern tailoring. With 15 scents available, the collection allows wearers to adapt their olfactory signature to different moods and occasions.
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The Singapore Business Federation (SBF) convened its second LATAM Conference on 31 July, drawing over 180 participants, including government officials and business leaders from Singapore and Latin America. Themed ‘Destino LATAM: First Foray to Fortune’, the conference aimed to explore emerging business opportunities in the Latin American region, focusing on strategies to leverage recent developments such as free trade agreements.

Minister of State for Trade and Industry, Alvin Tan, attended as Guest-of-Honour, reaffirming the government’s commitment to fostering trade and investment flows into Latin America. The conference featured a panel on ‘Economic Diversification and Integration through LATAM’, which examined how businesses can effectively localise and tap into the strengths of 33 Latin American markets.

Participants engaged in breakout sessions that provided practical guidance on advanced manufacturing, energy and automation technologies, and supply chain logistics. These sessions also addressed navigating regulatory and legal frameworks in key Latin American markets.

SBF Chairman S S Teo emphasised the importance of strategic engagement in Latin America, stating, “Latin America is a dynamic and promising market for companies that are prepared and committed to engage strategically.” The conference, supported by over 15 Trade Associations and Chambers and 11 embassies, aimed to help companies build partnerships and navigate the complexities of operating in the region.

SBF will continue to support Singapore companies through its Latin America Business Group and GlobalConnect@SBF initiative, having facilitated over 140 advisories to businesses interested in the region over the past three years.
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