Industry News

MoneyHero Group, a prominent personal finance and digital insurance brokerage platform in Greater Southeast Asia, has announced its return to compliance with Nasdaq’s minimum bid price requirement. The company received a formal notice from Nasdaq on 17 July, confirming that its ordinary shares have maintained a closing bid price of at least $1.00 for 10 consecutive business days, from 2 July to 16 July. This marks a significant recovery after MoneyHero was previously notified on 7 April that it had fallen below the required threshold.

The compliance notice effectively closes the matter, allowing MoneyHero to continue its operations on the Nasdaq Stock Market without the risk of delisting. This development is crucial for the company, which operates across Singapore, Hong Kong, Taiwan, and the Philippines, and boasts a diverse brand portfolio including MoneyHero, SingSaver, Money101, Moneymax, and Seedly.

MoneyHero’s platform attracted approximately 5.7 million monthly unique users in the first quarter of 2025, supported by over 260 commercial partnerships. The company’s backers include notable figures such as Peter Thiel, co-founder of PayPal, and Richard Li, founder of Pacific Century Group.

This compliance milestone underscores MoneyHero’s resilience and strategic positioning in the competitive fintech landscape of the Asia-Pacific region. As the company continues to expand its influence, maintaining its Nasdaq listing is pivotal for its growth and investor confidence.
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ST Engineering has announced the divestment of its 51% stake in SPTel for $148m, a strategic move expected to close in the fourth quarter of 2025. This transaction will result in a one-off gain of approximately $83m, which the company plans to use for debt reduction and to slightly boost its earnings. The divestment aligns with ST Engineering’s strategy to focus on its core services, supported by a robust orderbook and increasing defence spending, according to an RHB research note.

The company’s decision to divest non-core assets is part of a broader strategy to streamline operations and enhance financial performance. The proceeds from the sale are anticipated to provide a modest uplift to earnings, whilst also contributing to debt reduction. Analyst Shekhar Jaiswal has reiterated a “BUY” recommendation for ST Engineering, with a new target price of SGD8.70, reflecting a 4% upside and a forecasted yield of approximately 2% for the financial year 2026.

ST Engineering’s strong orderbook, bolstered by structural tailwinds such as rising defence expenditure, ensures solid revenue visibility. Despite the divestment, the company’s long-term forecasts remain below its targets, indicating potential upside risks. The strategic focus on core services is expected to drive sustainable growth, positioning ST Engineering favourably in the market.

In summary, ST Engineering’s divestment of its stake in SPTel is a calculated move to optimise its asset portfolio and strengthen its financial position, with potential for future growth driven by its core business areas.
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SKINARMA has launched its JAGER collection, a versatile range of bags designed for everyday explorers who require gear that matches their dynamic lifestyle. Crafted with durability and functionality in mind, the collection features five bags that seamlessly blend classic styling with modern features, suitable for city streets and off-grid adventures.

The JAGER collection introduces water-resistant ripstop nylon bags, available in various sizes and colours. Each bag is designed to withstand everyday wear whilst keeping essentials protected. The collection’s standout piece, the Foldtop Backpack, accommodates a 14-inch laptop and offers ample space for daily necessities. Its fold-top closure and utility loops provide quick access and added protection, making it ideal for travel, work, or outdoor activities.

Other notable items include the Zip Utility Tote, which offers spaciousness without bulk, and the CargoPocket Crossbody, compact yet flexible with dual compartments and utility loops. The Clutch Bag and 14-inch Laptop Sleeve round out the collection, offering lightweight, easy-to-carry options with practical features.

Darren Tan, Lead Principal Designer at SKINARMA, stated, “We put careful thought into all aspects—the exterior material, combination of pockets and compartments, and even small details like zip-closures—to meet the traditional needs of everyday carry items whilst still standing out in a bold and distinct way.”

The JAGER collection is available on SKINARMA’s website, offering a fresh take on practical, functional carry gear. SKINARMA, a Singapore-based brand, continues to redefine the intersection of fashion, technology, and art since its inception in 2018.
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Canon Singapore has successfully concluded the 19th edition of the Canon PhotoMarathon 2025, a prominent event in Singapore’s photography calendar. Held on 19 July at Fountain Square@Clarke Quay, the event attracted over 600 photography enthusiasts who competed under the theme “One Click, One Vibe.” Participants were challenged to capture images across three mystery themes—Home, Vintage, and Vibe(s)—with each theme revealed at intervals throughout the day.

The competition offered a total prize pool of approximately $50,000 in Canon products, encouraging participants to race across Singapore, conceptualising and submitting their photos within a two-hour window per theme. Andrew Koh, Senior Vice President and Head of Singapore Operations at Canon Singapore, highlighted the event’s role in promoting creativity and technical excellence, stating, “Canon PhotoMarathon has grown from a competition into a vibrant showcase of creativity, diversity and technical excellence that fuels the photography community in Singapore.”

Canon continued its partnership with APSN, a social service agency supporting individuals with mild intellectual disabilities, by inviting APSN students to participate in the student categories. This collaboration reflects Canon’s philosophy of kyosei—living and working together for the common good.

The event not only celebrated the art of photography but also fostered inclusivity and community spirit. Muhammad Faris, CCA Arts Coordinator at APSN Delta Senior School, remarked, “The Canon PhotoMarathon reflects our school’s values and motivates students to believe in themselves.”

Beyond the competition, Canon Singapore offers workshops and guided shoots to nurture the local photography scene, providing opportunities for photographers to enhance their skills and creativity.
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Singapore Airlines (SIA) has successfully raised $3m through its SG60 SIA Cares 2025 fundraising campaign, aimed at supporting more than 1,600 children and youth with disabilities and developmental needs across Singapore. As part of the SG60 celebrations, SIA hosted its third SIA Cares Open House, which for the first time spanned two days, on 19 and 20 July.

The event welcomed nearly 900 guests, including youth-at-risk and individuals from disadvantaged backgrounds, along with their caregivers, from 33 social service agencies. The guests were given an exclusive tour of the SIA Training Centre, where they interacted with pilots, cabin crew, and engineers, and explored flight simulators and safety training facilities.

The Open House is part of the broader SIA Cares Around the World campaign, which involves over 1,000 SIA staff from 60 cities engaging in community activities. SIA CEO Goh Choon Phong expressed pride in the initiative, stating, “Opening our doors to almost 900 guests, and bringing them on an exclusive behind-the-scenes tour, allows us to engage and share the wonders of aviation with them.”

The campaign highlights SIA’s commitment to community support, with corporate partners joining the effort. The event also featured a heritage showcase and interactive installations celebrating Singapore’s nation-building journey. Participants enjoyed in-flight meals and various activities, underscoring SIA’s dedication to giving back to the communities that have supported the airline.
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Otto Place, the latest executive condominium (EC) project in Tengah, sold 59% of its units during its launch weekend, according to Huttons Asia CEO Mark Yip. This performance outstripped the sales of the nearby Novo Place, launched in November 2024, highlighting the high demand for housing in the area. Buyers are particularly drawn to Otto Place due to its proximity to two MRT stations and the highly sought-after Princess Elizabeth Primary School.

The project attracted a balanced mix of first-time and second-time buyers, with the latter making up 51.6% of the purchasers. The 30% quota for second-time buyers was quickly filled by 12:45 pm on the launch day. Many of these buyers had previously been unsuccessful in securing units in other EC projects, indicating a strong pent-up demand. Eligible second-time buyers will have another opportunity to purchase from 19 August.

Yip suggested that the Government should consider increasing the quota for second-time buyers to 50% to better support those looking to upgrade from HDB flats to ECs. The deferred payment scheme offered by Otto Place was popular, with around 75% of buyers opting for it. This scheme allows buyers to secure a unit whilst managing their finances during the construction period, particularly benefiting HDB upgraders who may still have outstanding loans.

Larger units, such as the 3-bedroom luxury and 4-bedroom options, were especially popular, with over 70% sold. These units appeal to HDB upgraders seeking more space and flexibility. Otto Place’s success underscores the strong demand for well-located ECs in Singapore’s West region.
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Tata Group has partnered with the People’s Association (PA) to launch the Tata-PA Youth Career Exploration & Mentorship Programme in Singapore. This initiative, unveiled on 19 July 2025 at Heartbeat @ Bedok, seeks to provide more than 60 youths aged 15 to 25 with career exploration opportunities and mentorship across various Tata Group companies. The programme aims to inspire future leaders by equipping them with practical skills and insights.

The three-month programme will involve company visits, role-based mentor-mentee matching, and shared learning experiences. Each participant will be paired with a mentor from Tata Group, offering tailored guidance based on their career aspirations. Girish Ramachandran, President of Growth Markets at Tata Consultancy Services (TCS), stated, “The Tata-PA Youth Career Exploration & Mentorship Programme embodies our shared commitment to nurturing young talent, fostering innovation and helping youths unlock their potential.”

The programme is part of the Alliance for Community Empowerment (ACE), a collaboration between TCS and PA, which aims to enhance digital fluency and preparedness among underprivileged communities in Singapore. Kia Siang Wei, Group Director (Partnership) at PA, expressed enthusiasm for the collaboration, highlighting its role in nurturing community participation and providing valuable career insights to youths.

This initiative underscores Tata Group’s commitment to supporting Singapore’s youth and aligns with the nation’s Smart Nation agenda, aiming to build a more resilient and future-ready workforce.
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China Medical System Holdings Limited (CMS) has marked its successful secondary listing on the Singapore Exchange (SGX) by hosting a high-profile forum in Singapore. The event, held on 15 July 2025 at CMS’s PharmaGend facility in Tuas, highlighted the company’s strategy to use Singapore as a regional hub to drive pharmaceutical innovation and expansion across emerging markets.

The forum attracted around 150 representatives from various sectors, including government agencies, pharmaceutical companies, and investment institutions. Discussions centred on the development of the pharmaceutical industry in Singapore and emerging markets, as well as the expansion of Chinese innovative drugs globally.

SGX’s Caihan Chia noted that CMS’s listing underscores the growing interest of Chinese companies in Singapore, driven by policy refinements and capital support. This move is expected to enhance CMS’s ability to connect with international investors and reinforce Singapore’s role as a capital hub.

Emerging markets such as Southeast Asia and the Middle East are becoming significant growth drivers for the pharmaceutical industry, with demand for medicines rising due to factors like ageing populations and increased health awareness. CMS aims to tap into these markets by building a dual hub strategy in China and Singapore, focusing on end-to-end innovation.

CMS Chairman Lam Kong outlined the company’s transformation strategy, which includes product innovation, commercial transformation, and international expansion. The company has developed a pipeline of nearly 40 innovative drugs and is expanding its presence in emerging markets through strategic partnerships and localised manufacturing capabilities.

With its strategic initiatives, CMS is poised to enhance its global value chain and unlock growth opportunities in emerging markets, setting a new paradigm for Chinese pharmaceutical companies expanding overseas.
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China International Capital Corporation Limited (CICC) successfully hosted the 3rd China–Southeast Asia Economic and Finance Forum on 15 July in Singapore. The event gathered nearly 300 government officials, institutional investors, and business leaders from across Asia to discuss macroeconomic trends and investment opportunities under the theme “The Great Rewiring: China–Southeast Asia Pivot in a Realigning Global Economy.”

The forum featured a keynote speech by Cao Zhongming, the Chinese Ambassador to Singapore, who highlighted China’s commitment to openness and cooperation, aiming to deepen ties with ASEAN countries. “China looks forward to working closely with ASEAN under the vision of amity, sincerity, mutual benefit, and inclusiveness,” he stated.

Liang Dongqing, a member of CICC’s Management Committee, noted that Southeast Asia is a preferred destination for A-share listed manufacturing companies, underscoring the region’s partnership with China. Stephen Ng, Head of CICC Southeast Asia and South Asia, remarked on the forum’s role in strengthening regional economic ties over the past three years.

Keynote speakers included Kai-Fu Lee, CEO of 01AI, who discussed the potential of generative AI as a productivity booster, and Bert Hofman from the National University of Singapore, who emphasised China’s investment in research and technology.

The forum’s discussions covered topics such as supply chain reconfiguration, investment trends, and AI’s global expansion. CICC aims to expand its network in Southeast Asia, enhancing cooperation and facilitating cross-border investment to support regional financial development.
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BYD, in collaboration with Sime Motors and Vantage Automotive Limited, has launched its first plug-in hybrid electric vehicle (PHEV) in Singapore, the BYD SEALION 6 DM-i. This new SUV marks a significant step in BYD’s strategy to cater to diverse driving needs, combining electric and hybrid capabilities to suit Singapore’s urban landscape.

The SEALION 6 DM-i is powered by BYD’s DM-i Super Hybrid system, featuring an 18.3 kWh Blade Battery and a 1.5L petrol engine. This setup allows for an electric-first driving experience with a range of up to 80 km on electric power alone, whilst offering a total system output of 217 kW and 300 Nm of torque. The vehicle’s fuel consumption is rated at 5.7 L/100 km, making it an efficient choice for drivers concerned about range and fuel economy.

James Ng, Managing Director of BYD Singapore and Philippines, highlighted the importance of this launch, stating, “The BYD SEALION 6 DM-i is our answer to the needs of drivers who face challenges such as charging access or range confidence.”

The SUV is designed with Singaporean drivers in mind, offering features such as a 15.6-inch infotainment display, adaptive cruise control, and a compact turning radius for navigating tight city spaces. It also includes a 10-year warranty on servicing and the Blade Battery, providing long-term value and peace of mind for owners.

Available at BYD showrooms across Singapore, the SEALION 6 DM-i is priced at $155,000 (S$212,888), including a guaranteed Certificate of Entitlement (COE). This launch represents BYD’s continued commitment to expanding its electrification journey in Singapore, aiming to make sustainable driving accessible to a broader audience.
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