Industry News

The Asia Pacific Summit for Aviation Safety (AP-SAS) convened in Singapore on 15 July, bringing together aviation leaders to address the challenges posed by increasing air traffic and recent global incidents. The summit, co-organised by Singapore and the Flight Safety Foundation, emphasised the importance of reinforcing safety fundamentals as air traffic volumes recover and surpass pre-pandemic levels.

Since its inception in 2023, AP-SAS has facilitated significant milestones, including the establishment of a regional safety data-sharing initiative among five ASEAN states. This initiative has seen the sharing of 7,000 occurrence reports, enhancing the collective ability to identify and address safety hazards.

The summit’s theme, “Future-Proofing Aviation Safety: Adapt, Innovate, Excel,” reflects the anticipated growth in the Asia-Pacific region, driven by a burgeoning middle class. Countries like Australia, Vietnam, and the Philippines are expanding airport infrastructure to meet this demand, which brings increased complexity to air traffic and airport operations.

Senior Minister of State for Transport, Sun Xueling, highlighted the need for proactive measures to reinforce safety systems and resilience. She stressed the importance of robust safety regimes, positive safety cultures, and strong leadership to maintain public trust in aviation.

The summit also underscored the role of technological innovations, such as System Wide Information Management and Trajectory Based Operations, in enhancing safety and efficiency. However, these advancements require rigorous testing and workforce training to ensure safe integration.

As the aviation industry faces geopolitical and supply chain challenges, collaborative efforts across governments, industry, and international organisations are deemed essential. The summit serves as a platform for timely discussions and cross-sharing of emerging safety issues, aiming to navigate new complexities and support growth in the sector.
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Singaporean coffee brand Alchemist has expanded internationally for the first time, launching two new stores in Tokyo’s Aoyama and Asakusa neighbourhoods. The openings in late June 2025 mark a significant step for the brand, known for its minimalist aesthetic and quality-driven coffee experience. Founder Will Leow expressed excitement about the expansion, stating, “Expanding into Tokyo felt like a natural step forward for us, and we’re humbled by the warm reception from the local community.”

The Aoyama store, located in the COERU Shibuya Building, offers a seating capacity of 30 and operates from 8:00 AM to 7:00 PM. Meanwhile, the Asakusa store, situated in the A*G ASAKUSA Building, accommodates 70 patrons and opens from 9:00 AM to 7:00 PM. Both locations feature a menu with over 10 types of coffee, priced between $4.00 (¥600) and $8.00 (¥1,200).

Alchemist, established in 2016, has grown to 11 locations in Singapore and is renowned for its precise roasting techniques and commitment to quality. The brand plans to open 10 more stores across Tokyo by the end of 2028, aiming to become a staple in Japan’s coffee scene. The company remains dedicated to barista training and career development, ensuring that its core values are upheld in every cup served.
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HashKey OTC Global, a leading over-the-counter trading platform under HashKey Group, has announced remarkable growth in the first half of 2025. The platform reported a 140% increase in transaction volume and a 246% rise in revenue compared to the same period last year. Additionally, the number of users on the platform has doubled, highlighting its expanding market presence.

The platform, which specialises in digital asset spot trading services for professional and institutional investors, operates at the intersection of traditional finance and Web3. It offers a secure and efficient on-off ramp solution for both crypto and fiat transactions. HashKey OTC Global caters to a diverse clientele, including hedge funds, family offices, and cross-border trading companies, providing them with deep liquidity, competitive pricing, and seamless settlement.

The platform’s highest single-week volume reached nearly $200m, reflecting strong market demand and its ability to support high-value institutional transactions. It facilitates multicurrency settlements, including major fiat currencies and stablecoins, ensuring fast and cost-effective conversions for global clients.

Chao Deng, CEO of HashKey OTC Global, emphasised the platform’s commitment to redefining institutional crypto services by combining traditional finance reliability with Web3 innovation. The company holds licences from leading authorities such as the Monetary Authority of Singapore, Japan’s Financial Services Agency, and Dubai’s Virtual Assets Regulatory Authority, ensuring a secure trading environment.

By partnering with top-tier banks and compliance firms like Moody’s and Chainalysis, HashKey OTC Global maintains robust KYC and KYT measures, reinforcing trust and transparency in every transaction. The platform’s growth underscores the increasing trust in regulated OTC platforms as institutions seek alternatives to fragmented liquidity sources.
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Prime US REIT has announced a significant milestone with the signing of a large anchor tenant lease, reflecting continued demand for US office space despite recent tariff announcements. This development has prompted RHB to maintain its “Buy” recommendation, raising the target price to $0.23 from $0.18, indicating a potential 39% upside. The REIT is expected to secure another major lease by the end of the third quarter of 2025, which could further enhance its portfolio occupancy and asset valuations year-on-year.

The recent lease signing is a positive indicator for Prime US REIT, suggesting resilience in the US office market. However, the volatile interest rate environment remains a challenge, with a dovish shift potentially acting as a catalyst for further growth. Currently, the stock is trading at a discount of over 70% to its book value, presenting an attractive opportunity for investors.

Analyst Vijay Natarajan highlighted the importance of this lease in boosting the REIT’s asset valuations and overall portfolio occupancy. “The demand for office space remains resilient,” he noted, despite the broader economic uncertainties.

Looking ahead, Prime US REIT’s strategic focus on securing large leases and navigating interest rate fluctuations will be crucial in maintaining its growth trajectory. The anticipated lease signing by the end of Q3 2025 could further solidify its market position, offering investors a promising outlook amidst the current economic landscape.
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JLL has announced the sale of an industrial property at 11 Wan Lee Road, Singapore, with an indicative price of $9.1m (S$12.5m). The site, classified as “Business 2” under the Urban Redevelopment Authority’s Draft Masterplan 2025, offers substantial development potential with an underutilised plot ratio. The current gross floor area (GFA) of 41,994 square feet can potentially be increased to 106,000 square feet, pending approval from authorities.

The property, currently operating as a pharmaceutical facility, is located within a designated JTC food zone, making it ideal for conversion to food manufacturing. With approximately 25 years remaining on its land lease, the site provides ample opportunity for redevelopment. Pamela Siow, Head of Logistics and Industrial, Capital Markets at JLL Singapore, highlighted the property’s unique value, stating, “Its position within a JTC food zone, despite current authorisation for pharmaceutical manufacturing, makes it exceptionally valuable.”

Strategically positioned within the Chin Bee food and beverage manufacturing cluster, the site offers excellent connectivity via the Ayer Rajah Expressway and is less than 10 kilometres from Tuas Cheque Point. The upcoming Tuas Mega Port and Enterprise MRT Station will further enhance accessibility, making the property attractive for intensive food processing operations.

The property is available for sale via private treaty, presenting a significant opportunity for investors looking to capitalise on Singapore’s ’30 by 30′ food security initiatives and the site’s strategic location.
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The OCBC SME Index has shown an improvement in the second quarter (Q2) of 2025, reaching 50.5, up from 49.9 in the previous quarter. This marks a shift into the expansion range, indicating that Singapore’s small and medium enterprises (SMEs) are holding up well against challenging economic conditions and a volatile geopolitical landscape. The index’s rise is supported by broad-based improvements across various industries, with overall collections growing by 5.8% year-on-year and payments increasing by 4.5%.

The GDP growth Nowcast based on the OCBC SME Index for Q2 2025 is approximately 4.5%, aligning closely with the Ministry of Trade and Industry’s advance estimates of 4.3%. This growth is driven by both domestic and externally oriented industries, although improvements remain narrow. Externally, sectors such as Wholesale Trade, Manufacturing, and Resources have shown expansion, whilst domestic industries like Food & Beverage (F&B), Business Services, and Building & Construction have also contributed to growth.

However, not all sectors are thriving. Transport & Logistics, Education, and Information and Communications Technology (ICT) continue to face contraction. The ongoing US tariff negotiations pose additional challenges, with 57% of 1,600 SME business owners surveyed expecting the outlook for the rest of the year to worsen or remain unchanged.

Linus Goh, OCBC’s Head of Global Commercial Banking, noted, “SMEs turned in a resilient performance in Q2 2025, holding up surprisingly well against challenging economic conditions with broad-based improvements across both external and domestic industries.” He added that US tariffs and potential disruptions to global trade remain significant concerns for SMEs, and the index is expected to ease in the second half of 2025.

As SMEs navigate these complexities, the OCBC SME Index will continue to provide valuable insights into their performance and the broader economic conditions they face.
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Singlife has announced a strategic partnership with GXS Bank to integrate insurance coverage into the bank’s inaugural investment product on the GXS Invest platform. This collaboration aims to provide customers with a seamless way to invest and protect their wealth through a single product.

GXS Invest, accessible via GXS Bank’s digital app, is launching with the Fullerton SGD Cash Fund (Class G), a money market fund designed for low-risk investing. As part of this initiative, eligible investors will automatically receive complimentary group personal accident insurance, underwritten by Singlife. This insurance covers accidental death and total permanent disability, offering protection up to three times the investment amount, capped at S$100,000.

Varun Mittal, Head of Innovation & Ecosystem at Singlife, highlighted the significance of this partnership, stating, “Protection isn’t an afterthought – it’s the foundation that enables customers to invest with confidence. More than just bundling products, this partnership represents a fundamental shift in how insurance and investment can work together.”

This collaboration marks a significant step in bridging the gap between traditional investment and insurance products in Singapore, making financial protection more accessible and relevant. It aligns with Singlife’s ongoing efforts to embed insurance into digital experiences, such as healthcare subscriptions and employee wellness programmes.

The partnership not only enhances customer convenience but also reflects a broader trend of integrating financial services to meet diverse consumer needs in a digital-first world.
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Knight Frank Singapore’s latest Retail Report for Q2 2025 highlights the challenges faced by the retail sector amidst rising costs and a saturated market. Despite a dip in international visitor arrivals to 2.8 million in April and May from 3 million in the first two months of the year, the Singapore Tourism Board remains optimistic about achieving its full-year target of 17 to 18.5 million arrivals.

Prime retail rents in Singapore have seen moderate growth, with island-wide rents increasing by 1.2% quarter-on-quarter to S$28.20 per square foot per month. The Marina Centre, City Hall, and Bugis micromarket experienced the highest growth at 1.9%, reaching S$26.90 per square foot per month. Ethan Hsu, Head of Retail at Knight Frank Singapore, emphasised the importance of placemaking in the face of rising costs and shrinking margins, stating, “In an increasingly saturated F&B market, rising costs and shrinking margins underscore the need for sustained placemaking efforts to ensure retail spaces offer unique identities and experiences.”

Retail sales, excluding motor vehicles, rose from S$3.3b in April to S$3.6b in May, with department stores and apparel categories showing strong performance. However, the F&B sector faces significant challenges, with operating costs reaching a record S$12.3b in 2023, an 8.8% increase from the previous year.

Looking ahead, the retail outlook remains challenging due to global uncertainties and rising operating costs. Retailers are expected to adopt cautious expansion strategies as they navigate these turbulent times.
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Rently, a Singapore-based finance and property tech platform, has launched a free home contents insurance plan for its Rently Care users residing in non-landed homes. Officially rolled out on 4 April 2025, the plan includes protection for home contents and up to three emergency repair services per coverage period, each valued at up to $110 (S$150). This initiative aims to enhance tenant security and convenience, aligning with Rently’s mission to simplify the rental process.

The insurance coverage, provided in collaboration with global insurtech company discovermarket, offers comprehensive protection against incidents such as fire and burst water pipes. It also covers valuables like jewellery and furs up to $730 (S$1,000), temporary accommodation costs if the residence becomes uninhabitable, and a multi-appliance extended warranty under the highest plan tier, covering up to $290 (S$400) for repairs or replacements.

Travis Chan, Product Manager at Rently, highlighted the importance of this offering, stating, “This move allows us to address a longstanding gap in the rental ecosystem by ensuring renters feel secure both financially and emotionally. We’re redefining what peace of mind looks like in the rental space.”

With over 13,000 rental scam cases reported in 2025, the need for enhanced rental security has become increasingly apparent. Rently’s new insurance plan provides a vital safety net for tenants and landlords navigating the complex rental market, further solidifying its commitment to making renting more transparent, safe, and efficient.
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Moomoo Singapore has achieved a significant milestone, surpassing 1.5 million users, as announced by its CEO at the recent MooFest 2025. The event, held on 12 July at Suntec Convention Centre, drew nearly 4,000 attendees, including investors and partners, to explore the future of wealth management. This achievement marks a 50% increase in users within just 15 months, highlighting Moomoo’s growing impact on Singapore’s retail investing landscape.

The surge in users is attributed to Moomoo’s blend of intuitive technology, accessible financial education, and a thriving in-app community. “Reaching 1.5 million users is more than just a milestone; it’s a reflection of how deeply Moomoo Singapore is woven into the fabric of our nation’s financial and social ecosystem,” said Gavin Chia, CEO of Moomoo Singapore.

MooFest 2025 also showcased the launch of Moomoo AI, an advanced investment assistant designed to help users analyse stocks and track market trends through a conversational interface. This tool aims to empower investors with real-time insights, combining financial data and technical indicators.

Additionally, Moomoo Singapore is expanding its digital asset offerings, remaining the only online broker licenced to offer crypto trading in Singapore. With nearly 8% of investors planning to increase their cryptocurrency exposure, Moomoo is set to introduce new crypto products and enhanced analytics.

Looking ahead, Moomoo Singapore plans to deepen its market presence with initiatives like CDP linkage for seamless stock access and the launch of boutique physical stores. These efforts aim to provide a holistic investing experience, blending digital convenience with personalised support.
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