Industry News

The Monetary Authority of Singapore (MAS) announced in its July 2025 Monetary Policy Statement (MPS) that it will maintain the current rate of appreciation of the Singapore dollar nominal effective exchange rate (S$NEER) policy band at an estimated 0.5% per annum. This decision aligns with the consensus among analysts, including those from UOB Global Economics and Markets Research, who anticipated no change in policy.

The MAS highlighted the resilience of both the global and domestic economies, despite ongoing uncertainties related to tariffs. The statement noted that whilst global growth momentum may moderate, Singapore’s domestic growth has exceeded expectations in the first half of 2025, driven by robust construction activity and trade-related services. This performance has led UOB to revise its 2025 growth forecast for Singapore to 2.1%, surpassing the Ministry of Trade and Industry’s official forecast range of 0.0-2.0%.

MAS Managing Director Chia Der Jiun remarked that Singapore’s GDP growth has held up better than anticipated in the first half of the year but is expected to slow in the latter half. The central bank also maintained its full-year core and headline inflation forecasts at 0.5-1.5%, adopting a cautious outlook on inflation risks.

Looking ahead, MAS indicated that it may consider easing policy in the October 2025 MPS or January 2026 MPS if the expected payback effects from front-loading and tariffs lead to a slowdown in growth momentum. The central bank emphasised that it remains prepared to respond to risks to medium-term price stability, with room to adjust the S$NEER within the existing band if necessary.
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The Asia-Pacific (APAC) region experienced a 3% year-on-year increase in deal activity during the first half (H1) of 2025, according to GlobalData. This growth, however, reveals a complex landscape with significant variations across different markets and deal types. India and Japan emerged as standout performers, with India seeing a 12% rise in deal volume and Japan a substantial 25% increase. In contrast, South Korea and Singapore faced declines of approximately 20% and 16% respectively.

GlobalData’s Lead Analyst, Aurojyoti Bose, highlighted the mixed signals across key markets, noting that whilst some countries demonstrated resilience, others faced challenges. “The growth masks underlying shifts in specific countries that warrant closer examination,” Bose commented.

The analysis also showed a 9% increase in mergers and acquisitions (M&A), driven by companies seeking consolidation to enhance operational efficiencies. Conversely, private equity deals fell by 7% and venture financing by 5%, reflecting a cautious investment climate amidst geopolitical tensions.

China’s deal volume remained stable, likely due to regulatory challenges, whilst the downturn in private equity and venture financing suggests investors are reassessing risk profiles. Bose concluded that the surge in M&A activity indicates a renewed appetite for consolidation in a competitive landscape.

The findings underscore the varying degrees of investor confidence across the APAC region, with implications for future investment strategies and market dynamics.
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Carousell, the leading multi-category classifieds marketplace in Southeast Asia, Hong Kong, and Taiwan, has published its Regional Scam Trends Report 2024. The report identifies the top fraud tactics targeting online shoppers and outlines steps users can take to avoid them. The report, produced by the Carousell Trust Working Group, ranks the most prevalent scams based on police and user reports.

The report highlights five major scams: counterfeit items, e-commerce scams, concert and event ticket fraud, fake buyer phishing, and fake Carousell support. Each scam is prevalent in different regions, with Malaysia facing fashion item scams, Hong Kong dealing with concert ticket fraud, Taiwan encountering “50% off” scams, the Philippines experiencing digicam scams, and Singapore confronting “Enabler” scams.

Carousell has implemented multi-layered safeguards to protect its community. In 2024, the platform blocked 1.28 million external links, 727,000 email addresses, and 20,000 QR codes to reduce phishing risks. Additionally, 23 million in-app safety alerts were issued, and 422,000 suspicious accounts were suspended.

Director of Trust and Customer Experience at Carousell, Gijs Verheijke, stated, “User education has always been a cornerstone of our trust strategy. By revealing scammers’ playbooks, we’re empowering sellers to spot phishing attempts and helping buyers question suspicious deals.”

Carousell advises users to keep conversations within the platform, pay through the platform for maximum protection, and safeguard personal information. To further educate users, Carousell will run a month-long campaign across its platform and social media channels.
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NTT DATA and Mistral AI have announced a strategic partnership to deliver sustainable and secure private AI solutions to regulated enterprises, including those in Singapore. This collaboration leverages NTT DATA’s industry expertise and global capabilities with Mistral AI’s efficient generative AI models, aiming to empower organisations in sectors such as financial services, insurance, and defence to maintain data control whilst fostering innovation.

The partnership will focus on several key areas. Firstly, the co-development of sustainable and secure AI solutions tailored for private cloud environments, addressing both infrastructure and business needs. Secondly, the integration of Mistral AI’s technologies into NTT DATA’s customer experience platforms, starting with AI-driven call centre solutions in Europe and the Asia Pacific region. This integration aims to enhance IT infrastructure and customer satisfaction through localised, language-specific support.

Additionally, the companies plan to expand their market presence with tailored strategies for countries including France, Luxembourg, Spain, Singapore, and Australia. This will involve dedicated sales teams and comprehensive AI services ranging from use-case development to managed services.

To support these initiatives, NTT DATA will establish a Mistral AI Centre of Excellence, providing technical certification for its consultants. Abhijit Dubey, CEO of NTT DATA, stated, “Collaborating with Mistral AI aligns with our mission to accelerate client success through responsible innovation.”

In early projects, Dennemeyer has selected the duo to develop an AI-driven application for patent searches, whilst NTT DATA Luxembourg and Mistral AI will create a sovereign platform for financial services in Luxembourg. This collaboration is set to accelerate AI adoption in regulated industries, enhancing both security and innovation.
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Keppel Pacific Oak US REIT has reported signs of demand recovery in its latest financial update, with its first half of 2025 (1H25) results slightly below expectations. Despite previous concerns about a tariff-induced decline in US office demand, the outlook is improving due to a resurgence in return-to-office trends. However, the company continues to face challenges in the financing market, with a volatile interest rate environment impacting conditions.

The REIT is maintaining a “neutral” stance, with a target price increase to USD0.22 from USD0.19, indicating a 4% downside. Analysts highlight that key catalysts for a potential rerating include interest rate cuts and increased dividend payouts. The company is on track to resume dividend distributions from the financial year 2026, with a token dividend expected in the second half of 2025 (2H25).

Vijay Natarajan, an analyst, noted, “Our earlier concerns on a tariff-induced decline in US office demand have proven unfounded with the outlook brightening amid improving return-to-office trends.” This positive shift in demand is crucial for the REIT’s future performance.

The announcement comes as the company navigates a challenging financial landscape, with interest rate fluctuations posing ongoing risks. The anticipated return to dividend payouts signals a cautious optimism for investors, with the potential for further positive developments should market conditions stabilise.

Looking ahead, Keppel Pacific Oak US REIT’s performance will be closely watched, particularly in relation to interest rate movements and their impact on the company’s financial strategy.
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Motul Singapore, a leading distributor of high-performance lubricants, has signed a Memorandum of Understanding (MoU) with KTM Singapore, the exclusive distributor of KTM motorcycles in the region. This agreement, announced on 30 July 2025, establishes Motul Asia Pacific as the official lubricant partner for KTM Singapore, enhancing its presence in the local market and expanding its motorcycle oil range.

The MoU was signed during the KTM 125 & 390 launch event on 25 July 2025, highlighting a shared commitment to performance and reliability. This partnership will provide KTM Singapore customers with access to Motul’s comprehensive range of lubricants, ensuring superior engine protection and consistent performance. Motul’s expertise, honed through its role as the official lubricant partner for the MotoGP Red Bull KTM Racing Team, promises race-ready dependability.

Jay Ong, Country Manager of Motul Singapore, expressed enthusiasm about the partnership, stating, “This partnership with KTM Singapore is an exciting opportunity for us to bring Motul’s world-class expertise in lubrication and engine protection to a wider community of riders here.”

Carlo Savoca, Chief Marketing Officer of Motul Asia Pacific, emphasised the strategic importance of the collaboration, noting, “Today’s milestone moment reflects Motul’s long-term commitment to co-creating value with leading manufacturers and distributors across Asia.”

The partnership will also explore initiatives such as technical workshops, joint marketing campaigns, and rider engagement activities. This collaboration aligns with Motul’s broader strategy in Asia, focusing on delivering world-class solutions through long-term partnerships.
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Kim Gan Enterprise Pte Ltd, a prominent auto parts supplier in Singapore, is celebrating its 24th anniversary this year. Since its inception in 2001, the company has grown from a filter supplier to a comprehensive provider of industrial and automotive components, serving sectors such as marine, construction, and oil and gas across Southeast Asia.

Initially focused on quality filters, Kim Gan Enterprise’s pivotal moment came in 2007 when it became the authorised distributor for Parker Hannifin filters, marking its entry into the marine industry. Today, the company offers a wide array of products, including batteries, wiper blades, fan belts, and engine lubricants. This expansion has allowed it to meet diverse customer demands and support various industries.

The company’s growth is bolstered by its sister company, HAWK Soon Hin Industries Sdn Bhd, which manufactures filters under the OSK and Eurofil brands. This partnership ensures stringent quality control and product availability, enhancing Kim Gan Enterprise’s supply network.

Beyond commercial success, Kim Gan Enterprise is committed to corporate social responsibility, supporting orphanages and old folk homes in Myanmar and other regions. The company also adheres to quality management standards and participates in industry compliance programmes to maintain operational excellence.

As it looks to the future, Kim Gan Enterprise remains focused on long-term relationships, product reliability, and operational flexibility. Customers can anticipate continued product expansion and a steadfast commitment to quality and dependable supply.
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Cap rates across the Asia Pacific region maintained stability in the second quarter of 2025, despite varying market dynamics, according to Colliers’ latest report. The Q2 2025 Asia Pacific Cap Rate Report reveals that the retail sector emerged as the standout performer, driven by stable yields and robust tenant demand in key cities such as Hong Kong, Bengaluru, Sydney, and Melbourne.

Retail assets in Hong Kong continued to deliver attractive yields, outperforming other sectors, whilst Bengaluru experienced rising rents in prime locations due to increased trade density. In Australia, retail yields remained stable, with potential for compression in undersupplied sub-markets.

The office sector displayed varied performance, with sustained demand for high-quality assets in Central Business Districts. Australia and Auckland showed signs of stabilisation, whilst Seoul and Mumbai recorded healthy leasing demand and rental growth. Hong Kong’s office market sentiment improved following a significant transaction at One Exchange Square.

The industrial sector presented mixed dynamics, with strong investor confidence in select markets like Brisbane and Sydney, contrasted by challenges from oversupply and trade tensions elsewhere. Bengaluru recorded notable cap rate movement, highlighting its growing appeal among investors.

Emerging trends include a surge in interest in Hong Kong for converting hotels and offices into student housing, driven by government initiatives. Singapore may face downward pressure on cap rates due to tight supply and demand for trophy assets, whilst Bangkok is positioning itself as a regional data centre hub.

Macroeconomic factors also influenced investor sentiment, with expectations of interest rate cuts in Seoul and recent reductions in Mumbai boosting confidence. China’s RMB138 billion subsidy programme is anticipated to continue stimulating retail consumption.
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Seafood Expo Asia, organised by Diversified, has announced its 2025 conference programme, featuring expert-led sessions on sustainability, aquaculture, fish processing, aquafeeds, and consumer trends. The event will take place from 10 to 12 September at the Sands Expo and Convention Centre in Singapore, offering a platform for industry professionals to discuss pressing issues and opportunities in the Asian seafood market.

The conference will kick off with a keynote address by leading Asian economist Manu Bhaskaran, who will provide insights into global trends and their implications for regional growth and investment strategies. Among the highlights, BAADER representatives will discuss advancements in fish processing technology, focusing on sustainability and productivity. A session on seafood supply chains will explore the need for sustainable food systems in Asia, addressing challenges like illegal fishing and climate change.

Dr Enrico Bachis from The Marine Ingredients Organisation will lead a session on aquafeeds, discussing sustainable management practices and nutritional optimisation. Additionally, aquaculture advancements will be showcased by leading operators, providing insights into building resilient food systems.

Consumer trends in Southeast Asia will be analysed, with experts from the Norwegian Seafood Council and others discussing market dynamics and future expectations. A panel will also delve into consumer demand for sustainable seafood products, offering strategies for aligning with evolving market needs.

Seafood Expo Asia serves as a strategic platform for networking and business development, drawing seafood suppliers and buyers from across the globe. Attendees can expect to discover new products, processing equipment, and services, whilst gaining valuable insights into the latest market trends.
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Roku Gin, a brand under The House of Suntory, is set to host a unique cocktail and dining event in Singapore on 2 August 2025. This collaboration brings together Stay Gold Flamingo, a renowned local cocktail bar, and IF ONLY, a contemporary bar and restaurant from Malaysia. The event promises an exclusive menu featuring three specially crafted cocktails and a selection of dishes that celebrate the art of craft, creativity, and culture.

The collaboration highlights the shared values of the participating venues, which include a deep respect for tradition and innovation. Amos Kew, Head Bartender at Stay Gold Flamingo, and Linus Teng, Bar Manager at IF ONLY, will present their craft through cocktails priced around $20 (SGD$27) each. Linus expressed his excitement, stating, “Working with Roku Gin was a natural fit for us at IF ONLY – we both value seasonality, precision, and storytelling through flavour.”

The cocktail menu includes creations such as “Coffee & Yuzu” by Linus and “Kuyashii” by Amos, each reflecting their unique styles and inspirations. Additionally, the event will feature a collaborative dish menu by Chef Bryan Tan of IF ONLY and Chef Joanne from Stay Gold Flamingo, blending Malaysian roots with modern Asian dining.

Roger Chen, Marketing Director of Roku Gin SEA, emphasised the significance of the event, noting, “This initiative not only celebrates our commitment to tradition and innovation but also allows us to engage a new generation of gin drinkers.” The event will take place at Stay Gold Flamingo in Singapore, with reservations available online.
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