Industry News

Digital travel platform Agoda has unveiled its SG60 Celebration Campaign, aiming to enhance tourism in Singapore as the nation commemorates its 60th year of independence. The campaign, running from 1 August to 15 August 2025, offers up to 20% discounts on travel bookings, both inbound and outbound, capitalising on the rising interest from regional and long-haul travellers.

The initiative aligns with Singapore’s year-long diamond jubilee celebrations and involves partnerships with major hospitality groups like Resorts World Sentosa and Furama Hotels International, as well as airlines such as Singapore Airlines, Malaysia Airlines, and Firefly. Andrew Smith, Senior Vice President of Supply at Agoda, highlighted the campaign’s significance, stating, “Through our close collaboration with Singapore’s tourism authority in past years, we are using innovative data-driven campaigns to showcase the city’s unique appeal to global travellers during the nation’s 60th year of independence.”

Agoda’s data from April to June indicates a surge in interest from key Asian markets, with Thailand showing a 10% increase in searches. Long-haul markets such as Austria, Spain, and Denmark also recorded year-on-year growth, underscoring Singapore’s expanding global profile. Mathew Chan, Regional Director of Revenue at Furama Hotels International, expressed enthusiasm about the collaboration, saying, “This collaboration allows us to connect with both new and returning guests from around the world.”

As Singaporeans explore over 100 countries, China has seen a 40% increase in searches, with Malaysia, Japan, and Indonesia remaining top destinations. Agoda continues to support millions of travellers with its extensive network and strategic partnerships, enhancing visibility and bookings for hotels globally.
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PERSOLKELLY, a leading HR solutions provider in the Asia Pacific, has officially rebranded as PERSOL, unifying its operations across 13 markets under a single brand identity. This strategic move, announced on 31 July, aims to strengthen the company’s regional growth and position it as a modern, tech-forward workforce solutions partner. The rebranding retires the Kelly name, consolidating all PERSOLKELLY-branded businesses under one scalable identity.

The decision comes at a time when the Asia Pacific region is a significant contributor to global economic growth, accounting for 60% last year. PERSOL is poised to bridge workforce needs with high-quality employment opportunities, addressing changes driven by automation, demographic shifts, and a rising demand for technology and sustainability skills.

In Singapore, job vacancies are concentrated in high-growth sectors such as Information and Communications, Finance and Insurance, and Healthcare, which collectively account for nearly one-third of total openings. Tech roles, including software and web developers, remain in high demand, reflecting Singapore’s expanding digital economy.

See Yang Foo, Managing Director and Country Head of PERSOL Singapore, stated, “Becoming PERSOL reflects how far we’ve come and where we’re going. It unifies our strengths under one brand, allowing us to scale smarter, deliver consistently, and innovate faster.”

PERSOL’s refreshed brand offers agile hiring, digital-first recruitment, and regional talent mobility, providing clients with a future-ready talent strategy. The rebrand marks a strategic shift, enabling PERSOL to deliver consistent solutions across borders whilst addressing the unique needs of each market.
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Kylie Cosmetics has introduced its latest innovation, the Hybrid Blush, in Singapore on 31 July 2025. This new product combines the qualities of both cream and powder blushes, offering a unique sensory experience that aligns with the growing popularity of blush products driven by social media trends. The Hybrid Blush promises a silky, weightless feel, melting into the skin like a cream whilst providing the soft-focus effect of a powder.

The Hybrid Blush is available in four signature shades: Cheeky Mood, Winter Kissed 2.0, Petal, and Summer Sorbet. Each shade is designed to pair seamlessly with Kylie Cosmetics’ Skin Tint Blurring Elixir or Power Plush Longwear Foundation. Kylie Jenner expressed her excitement about the launch, stating, “I love how it melts into my skin seamlessly, feels lightweight and comfortable, and gives a gorgeous pop of colour that doesn’t get cakey or patchy.”

Key benefits of the Hybrid Blush include up to 12-hour wear, sweat and humidity resistance, and a non-comedogenic formula. The product is priced at $30 (SGD 40) and is available at Sephora ION Orchard, Raffles City, and online at Sephora.sg.

Consumer tests conducted with 22 women aged 20 to 38 showed unanimous satisfaction with the product’s performance, highlighting its seamless application and soft-matte finish. As Kylie Cosmetics continues to innovate, the Hybrid Blush represents a significant step in the brand’s expansion in the beauty market.
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Digital business solutions provider Osome and finance platform Aspire have expanded their partnership to help entrepreneurs in Singapore and Hong Kong save time on financial administration. By integrating Aspire’s banking capabilities into Osome’s AI-enabled platform, businesses can automate key finance workflows, significantly reducing the time spent on accounting and reconciliation tasks.

Traditionally, companies spend up to six hours weekly on these tasks, which involve manual processes like downloading bank statements and matching transactions. The new integration automates data extraction from bank accounts, simplifying the reconciliation process and reducing human error. Catherine Doherty, Head of Partnerships at Osome, stated, “Our partnership with Aspire reflects our commitment to simplifying business ownership and helping founders build something meaningful.”

The adoption of Aspire’s bank feed integration has surged by 43% among Osome customers in just two months, highlighting the operational value and time-saving potential of this seamless connection. Andrea Baronchelli, CEO and Co-Founder of Aspire, noted, “Founders are hungry for solutions that save time and reduce friction. Our integration with Osome gives them real-time visibility, faster reconciliation, and fewer manual headaches.”

Osome and Aspire plan to launch community and educational outreach activities for founders, startups, and SMEs in both cities. This initiative aims to further empower entrepreneurs by providing them with the tools and knowledge to optimise their business processes.
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Global payments platform Adyen has announced a partnership with Singapore-based restaurant operating system Atlas to enhance the efficiency of food and beverage (F&B) businesses across the city-state. By integrating Adyen’s payment technology into Atlas’s AtlasPay solution, the collaboration promises to reduce manual errors, speed up checkouts, and simplify terminal management for F&B merchants.

Atlas, which supports popular brands like SaladStop, PPP Coffee, and Haidilao, will leverage Adyen’s technology to offer streamlined backend operations. This integration has already resulted in an 80% reduction in human errors, a 12% increase in direct sales, and a 10% saving in manpower for Atlas’s clients. Ben Wong, General Manager for Southeast Asia and Hong Kong at Adyen, highlighted the need for flexible solutions, stating, “Our partnership with Atlas helps simplify this, so restaurateurs can focus on growing their business and connecting with customers.”

The partnership comes at a crucial time for Singapore’s F&B sector, which is facing significant challenges. According to the Accounting and Corporate Regulatory Authority, 3,047 F&B businesses closed in 2024, marking the highest number of closures since 2005. The sector’s struggles are compounded by operational pressures, with a YouGov survey revealing that small and medium-sized businesses spend an average of six hours weekly on accounting tasks.

Atlas and Adyen’s collaboration aims to address these challenges by providing F&B operators with a reliable, scalable platform. This will allow businesses to focus more on customer service and innovation, ultimately enhancing the dining experience. As Yi Sung Yong, Co-Founder and CEO of Atlas, noted, the partnership is designed to support merchants’ core needs, enabling them to concentrate on running their businesses effectively.
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American Express has announced the return of its Shop Small movement in Singapore for the sixth consecutive year, coinciding with the nation’s 60th birthday celebrations. From 1 to 31 August, eligible American Express Card Members can earn $2.20 (S$3) back for every $7.30 (S$10) spent at approximately 3,500 participating businesses, up to five times, by enrolling in the offer via the Amex app or website.

The initiative aims to bolster local businesses by encouraging cardholders to shop locally. Marlin Brown, Country Manager for American Express Singapore, highlighted the significance of this year’s campaign, stating, “With Singapore marking its 60th birthday this year, it’s a meaningful moment to recognise the contribution of local businesses to our communities.”

In addition to the Shop Small movement, American Express is partnering with F1 ACADEMY to support female-led businesses. During the Singapore Grand Prix from 3 to 5 October 2025, a local female-owned Shop Small business will be featured on the American Express-branded F1 ACADEMY livery, offering global exposure through broadcasts in over 160 territories.

Charmaine Toh, Director of Cathay Photo, a long-time participant in the Shop Small initiative, praised the programme for helping her business connect with new audiences. “Through the Shop Small movement, we’ve managed to further grow this community by connecting with new audiences that understand the importance of supporting local businesses that prioritise quality and service,” she said.

The Shop Small movement, founded by American Express in 2010, continues to emphasise the vital role small businesses play in local economies, encouraging consumers to support them.
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Marina Bay Sands has unveiled a poignant short film, “Nothing Comes By Chance,” to commemorate Singapore’s 60th year of independence. Directed by acclaimed filmmaker Kirsten Tan and produced by Momo Film Co, the four-minute film highlights the nation’s resilience and determination, featuring notable Singaporean talents such as actress Tan Kheng Hua, swimmer Quah Zheng Wen, and singer-songwriter Jasmine Sokko.

The film, scripted and narrated by award-winning writer Amanda Lee Koe, captures the essence of Singapore through its everyday moments and familiar streets. Set against the backdrop of Singapore’s skyline, it also acknowledges the enduring presence of Marina Bay Sands as a symbol of the country’s evolving narrative.

“Nothing Comes By Chance” is part of the SG60 celebrations, inviting audiences to reflect on Singapore’s past achievements and future aspirations. The film will be available for viewing from 10am on 1 August 2025 on the Marina Bay Sands website.

This tribute underscores Marina Bay Sands’ commitment to celebrating Singapore’s journey and its role in shaping the nation’s identity. As the country marks this significant milestone, the film serves as both a tribute and a reminder of the collective spirit that defines Singapore.
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Renowned chef Nancy Silverton is set to return to Osteria Mozza Singapore at Hilton Singapore Orchard from 25 to 30 August 2025, headlining a week of exclusive culinary events. The Michelin-starred chef will collaborate with other acclaimed chefs, including Dave Pynt of Burnt Ends and Jordan Keao of Butcher’s Block, for a series of unique dining experiences.

The highlight of the week is a Six-Hands Dinner on 27 August, where Silverton will join forces with Pynt and Keao. The trio will present a menu focused on wood-fire cooking and ingredient-led cuisine, featuring dishes like Western Australian Marron Cocktail and Salt-Baked Coral Trout Bouillabaisse. The dinner is priced at $328++ per person, with an early access rate of $298++ for bookings made by 13 August.

On 29 August, Silverton will partner with the team from Fortuna, a rising Italian trattoria, for a Four-Hands Dinner. The menu will celebrate Italian heritage with dishes such as Mortadella (Fried & Baked) and handmade pastas. This dinner is priced at $148++ per person, with an early access rate of $128++ for reservations made by 15 August.

The week concludes with “An Afternoon with Nancy” on 30 August, offering fans a chance to meet Silverton and enjoy a buffet of pastries from her latest cookbook. The event is priced at $68++ per person, with an option to add two glasses of selected wines for $42++.

These events highlight the culinary excellence and collaborative spirit at Osteria Mozza, promising a memorable experience for food enthusiasts.
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Keppel REIT is set to maintain its positive rental growth trajectory, according to a recent update from RHB. The real estate investment trust (REIT) reported that its financial performance for the second quarter and first half of the year was in line with expectations, with rent reversions continuing to show double-digit growth. This trend is anticipated to persist, bolstered by the REIT’s strategic positioning amidst falling domestic interest rates and a significant portion of its debt being floating.

The REIT’s portfolio occupancy is expected to remain stable, with Keppel REIT positioned as a key beneficiary of the current economic climate. The trust’s exposure to floating debt—37% of its total—allows it to capitalise on savings from upcoming debt maturities and the resetting of perpetual securities. Furthermore, the potential for overseas asset divestments at a premium presents a significant catalyst for the REIT, which is currently trading at approximately a 25% discount to its book value.

Analyst Vijay Natarajan highlighted the REIT’s strategic advantages, noting, “Keppel REIT is one of the key beneficiaries of falling domestic interest rates.” This positions the trust favourably for future growth and stability.

Looking ahead, Keppel REIT’s focus on maintaining high occupancy levels and leveraging asset recycling initiatives is expected to enhance its yield. The trust’s portfolio, which includes high-quality Grade-A office assets in Singapore, Australia, and South Korea, supports its robust market position. As the REIT continues to trade below book value, it offers an attractive yield for investors seeking stable returns in a fluctuating market environment.
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Jardine Cycle & Carriage Limited (JC&C) has reported a 6% increase in underlying profit, reaching $529 million for the first half of 2025. The company attributes this growth to foreign exchange gains and reduced financing costs at the corporate level. Despite an 8% decline in total business contributions, primarily due to lower profits in its Indonesian operations, improvements in Vietnam and Singapore have bolstered the Group’s portfolio resilience.

The Group’s Managing Director, Ben Birks, noted, “Whilst the macroeconomic environment remains challenging, our Vietnamese businesses are expected to build on the country’s economic momentum for the rest of the year.” He emphasised the Group’s focus on long-term growth and shareholder returns.

JC&C’s Indonesian businesses contributed $466 million, a 9% decrease, whilst Vietnam’s contribution rose by 17% to $36 million. The Group’s profit attributable to shareholders was $371 million, down from $483 million in the same period last year, largely due to unrealised fair value losses on non-current investments.

The Board has declared an interim dividend of US¢28 per share, unchanged from 2024. Looking ahead, JC&C is reviewing its business strategies with portfolio companies to enhance future growth, with updates expected by the first half of 2026. Meanwhile, Astra, a key subsidiary, is advancing its strategic initiatives in automotive, renewable energy, and logistics infrastructure.
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