Industry News

China Medical System Holdings Limited (CMS) has successfully completed its secondary listing on the Singapore Exchange (SGX) Mainboard, with shares closing at S$2.28, marking an 11.2% increase from the opening price of S$2.05. CGS International Securities Singapore acted as the issue manager for this significant listing under the ticker symbol 8A8.

The listing is a strategic move by CMS to expand its footprint across Southeast Asia, using Singapore as a base to enhance its visibility among regional stakeholders. This development underscores CGS International’s role as a key facilitator for Chinese companies entering Asia’s capital markets. Jason Saw, Group Head of Investment Banking at CGS International Securities, stated, “We are honoured to support CMS in its strategic expansion in Southeast Asia through Singapore’s capital markets.”

CGS International, a leading financial services provider, continues to bolster its reputation by supporting cross-border transactions and engaging regional investors. The firm, in collaboration with its parent company China Galaxy Securities, serves nearly 18 million customers worldwide, offering a range of financial services across 15 countries and regions.

The successful listing of CMS not only highlights CGS International’s expertise in cross-border equity offerings but also its commitment to enabling access to Asia’s dynamic growth markets. This move is expected to further solidify CMS’s position in the region and enhance its growth trajectory.
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7-Eleven, Singapore’s leading convenience store chain, is celebrating the nation’s 60th birthday with a series of local collaborations and promotions.

The initiative includes the launch of the Mini Munch Club collection, featuring quirky keychains and a tote bag designed by local illustrator Natasha Elle, known for her brand SADSHRIMPS.

These collectibles, inspired by iconic 7-Eleven treats, will be available from 16 July to 26 August.

In addition to the collectibles, 7-Eleven is reintroducing its Dabao Flavours of Singapore 2.0 ready-to-eat range.

Phase 1 items are available from now until 12 August 2025, not 16 September. These include:

•⁠ ⁠7-Select Chicken Curry Rice
•⁠ ⁠7-Select Sambal Spaghetti with Chicken Chop
•⁠ ⁠7-Select Chicken Laksa Linguine
•⁠ ⁠7-Select Tomato Chicken Baked Rice
•⁠ ⁠Andes Beef Meatball with Mushroom Sauce
•⁠ ⁠Andes Grilled Chicken with Black Pepper Sauce
•⁠ ⁠Dodo Curry Fishball
•⁠ ⁠Lee Wee Brothers Otah Chawanmushi

The Phase 2 items will be available from 23 July to 16 September 2025. These include:

•⁠ ⁠7-Select Chicken Nasi Lemak Onigiri
•⁠ ⁠7-Select Chilli Crab Onigiri
•⁠ ⁠7-Select Chicken Satay Wrap
•⁠ ⁠7-Select Chicken Laksa Macaroni Wrap
•⁠ ⁠7-Select Made with Milo Lava Cake
•⁠ ⁠7-Select Kopi-misu
•⁠ ⁠7-Select Egg Mayo + Old Chang Kee Curry’O Double Combo Sandwich
•⁠ ⁠7-Select Scrambled Egg Toast with Chilli Crab Sauce

Anushree Khosla, Managing Director of 7-Eleven, stated, “We are proud to deepen our ties with local brands to deliver uniquely Singaporean experiences and reward our customers even more for choosing 7-Eleven.”

The celebrations are part of 7-Eleven’s new campaign, “Part of Your Everyday Moments,” which highlights the brand’s role in Singaporeans’ daily lives. The campaign includes a playful video imagining a day without 7-Eleven, underscoring the convenience the store provides.
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Investment sales in Singapore’s real estate market experienced a downturn in Q2 2025, with a 6.8% decline quarter-on-quarter to $4.02b (S$5.47b). This decrease is attributed to ongoing trade and geopolitical tensions, which have heightened investor caution and reduced capital flows into the market, according to Savills’ Singapore Sales & Investment Briefing Q2 2025.
The residential sector, despite a significant 50.5% drop in transaction value to $1.38b (S$1.88b), remained the largest contributor, accounting for 34.4% of total investment sales. The commercial sector saw a sharp decline, with sales plummeting to $289.5m (S$394.6m) from $1.11b (S$1.51b) in the previous quarter, largely due to the absence of big-ticket block transactions.

Conversely, the industrial sector experienced a remarkable surge, with transaction values rising from $168.6m (S$229.8m) in Q1 2025 to $1.06b (S$1.44b) in Q2 2025. This increase was driven by ongoing acquisition and divestment activities by Singapore Real Estate Investment Trusts (S-REITs). Additionally, a significant transaction involving a 50.1% stake in South Beach boosted the mixed-use segment’s market share to 25.2%.

The hospitality sector recorded two serviced residence transactions totalling $278.4m (S$380.0m), marking a 14.2% increase from the previous quarter. However, uncertainty remains high globally, and responses from the US could further impact the market.
Savills maintains its full-year forecast of $14.7b (S$20b) for investment sales, anticipating that it may take another quarter or two for the market to adapt to the current geopolitical climate.

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KGI, a prominent financial institution in Asia, has announced significant leadership appointments in its wealth management division, reinforcing its strategic expansion across Southeast Asia. Bryan Low has been named Head of International Wealth Management for Singapore, whilst Amigo Wang takes on the role of Relationship Manager Team Head, overseeing Singapore and Taiwan markets.

Based in Singapore, Bryan Low will spearhead the development of KGI’s investment and product solutions platform, focusing on multi-jurisdictional families, family offices, and regional entrepreneurs. His role includes enhancing recruitment and leadership development across Southeast Asia and expanding cross-border investment capabilities. Low, who reports directly to James Wey, Head of International Wealth Management, expressed his enthusiasm: “I am honoured to join KGI and contribute to the next phase of its growth journey.”

Amigo Wang, also based in Singapore, will lead the Relationship Manager team, collaborating closely with the product solutions team to deliver tailored investment solutions to high-net-worth clients in Singapore and Taiwan. Reporting to Bryan Low, Wang stated: “It is a privilege to lead the RM team for the Singapore and Taiwan market coverage.”

These appointments underscore KGI’s commitment to establishing Hong Kong and Singapore as premier wealth management hubs, leveraging local expertise and global capabilities to serve investors across Southeast Asia. With over 15 years of experience, Bryan Low has held roles at UBS, Credit Suisse, Nomura, and Citi, whilst Amigo Wang brings over 20 years of experience from institutions like Cathay United Bank, UBS, and Morgan Stanley.
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Far East Hospitality has announced the opening of two new hotels in Osaka, marking a significant step in its strategy to expand its footprint in Japan. The Far East Village Hotel Osaka Namba South and Far East Village Hotel Osaka Honmachi are part of the group’s ambitious plan to double its room count to 2,000 across key Japanese cities within the next five years.

The expansion into Osaka is a strategic move for Far East Hospitality, which first entered the Japanese market in 2020. The group has since opened properties in Tokyo and Yokohama, maintaining growth momentum despite global travel restrictions during the COVID-19 pandemic. The new Osaka hotels bring the total to five properties in Japan, underscoring the group’s commitment to the region.

Mark Rohner, Chief Operating Officer of Far East Hospitality, expressed enthusiasm about the expansion, stating, “We are focused on strengthening the Far East Village brand in the country’s key cities, particularly those with vibrant business and leisure appeal.”

The partnership with Anglo Capital Group, which acquired the two centrally located hotels, is expected to enhance the guest experience in Osaka. Benjamin Cho, Principal of Anglo Fortune Capital Group, highlighted Osaka’s dynamic tourism landscape as a key factor in their decision to collaborate with Far East Hospitality.

Japan’s tourism sector has shown strong recovery post-pandemic, with international visitor numbers in Tokyo surpassing pre-pandemic levels. This rebound has fuelled optimism for Far East Hospitality’s continued growth in the region, aligning with the rising demand for personalised and authentic travel experiences.

The new hotels in Osaka are designed to cater to both leisure and business travellers, offering easy access to local attractions and transport links. Far East Hospitality’s “Live Like a Local” philosophy aims to provide guests with immersive cultural experiences, enhancing their stay in Japan.
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GXS Bank has unveiled GXS Invest, a new digital investment platform aimed at simplifying wealth-building for individuals. This launch introduces the Fullerton SGD Cash Fund (Class G), a money market fund managed by Fullerton Fund Management, part of Temasek Holdings. The initiative is designed to cater to those seeking conservative, low-risk investment opportunities.

GXS Invest is accessible to all GXS Savings Account holders, allowing investments starting from as low as S$1. The platform offers flexibility with no transaction fees or lock-in periods, enabling users to buy or sell investments anytime via the GXS Bank App. Additionally, eligible customers investing in the Fullerton SGD Cash Fund through GXS Invest receive complimentary group personal accident insurance, covering up to three times their investment, capped at S$100,000.

Jenn Ong, Group Head of Retail at GXS Bank, highlighted the platform’s alignment with customer needs, stating, “Whether you are a new investor or a seasoned investor looking for a simple, low-risk investment vehicle as part of your overall financial portfolio, GXS Invest is designed for you.”

Mark Yuen, Chief Business Development Officer at Fullerton Fund Management, expressed enthusiasm for the collaboration, noting, “The Fullerton SGD Cash Fund, an award-winning fund designed to deliver both liquidity and attractive returns, aligns seamlessly with GXS’s mission to empower everyday investors.”

GXS Bank plans to expand the range of funds available on GXS Invest over the next 12 months, further diversifying investment options for its customers.
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Neste Corporation has announced a major collaboration with DHL Express to supply 7,400 tonnes (9.5 million litres) of neat sustainable aviation fuel (SAF) to Singapore Changi Airport from July 2025 to June 2026. This agreement represents one of the largest SAF deals in the Asian air cargo sector and is DHL’s first SAF purchase for international flights from Singapore.

The SAF, produced at Neste’s Singapore refinery—the world’s largest SAF production facility—will be blended with conventional jet fuel and delivered directly to Changi Airport’s fuel distribution facilities. This blend will account for approximately 35% to 40% of the overall fuel composition for DHL Express’ five Boeing 777 freighters, which operate 12 weekly flights from the airport.

Christopher Ong, Managing Director for DHL Express Singapore, highlighted the significance of this partnership, stating, “This partnership with Neste to procure and uplift SAF for DHL Express’ international air cargo flights from Singapore is a significant milestone for us. Not only will it enable us to gain new strides in emissions reduction in air transport, it also allows us to strengthen our commitment to customers to provide more sustainable shipping options.”

Carl Nyberg, Senior Vice President, Commercial, Renewable Products at Neste, expressed enthusiasm about expanding cooperation with DHL in Singapore, emphasising the role of SAF in achieving decarbonisation targets.

This initiative aligns with Singapore’s goal to reduce carbon emissions in aviation, aiming for 1% SAF use on all flights from 2026. Neste’s SAF, made from renewable waste materials, can reduce greenhouse gas emissions by up to 80% over its lifecycle compared to conventional jet fuel.
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Banyan Group is set to celebrate the grand opening of its 100th hotel, Mandai Rainforest Resort, in Singapore this November. This milestone marks a significant achievement for the independent global hospitality company, which has been expanding its portfolio across Asia, Africa, and Europe. The celebration will include a weeklong festival and charity event, highlighting the Group’s commitment to purpose-led hospitality.

In the first half of 2025, Banyan Group achieved several milestones, including its debut in safari hospitality with the upcoming launch of Ubuyu, A Banyan Tree Escape, in Tanzania’s Ruaha National Park. This eco-luxury retreat will feature six artisan villas and offer guests immersive wildlife experiences. “It’s about something authentic shaped by thoughtful design, cultural depth, and genuine care,” said Eddy See, President and CEO of Banyan Group.

The Group is also marking its 20th anniversary in China, where it operates 33 hotels. New projects include Banyan Tree Zhuhai Phoenix Bay and Angsana Zhoushan. Additionally, Banyan Group is celebrating 30 years in the Maldives, having been honoured by the Government of the Maldives for its environmental contributions.

Further expansion includes the launch of Banyan Tree Padilla Madrid Residences in Europe and Banyan Tree Beach Residences Oceanus in Thailand. The Group’s retail arm, Banyan Tree Gallery, is also expanding its international presence, now available on China Airlines.

Banyan Group’s achievements have been recognised with over 100 industry accolades in the past six months, reinforcing its position as a leader in sustainable and regenerative travel experiences.
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RHB has reiterated its ‘underweight’ stance on the rubber products sector, citing ongoing challenges in the operating environment. The sector faces a prolonged period of inventory consolidation, coupled with fierce competition from Chinese manufacturers in non-US markets. Additionally, the upcoming commissioning of new plants in Indonesia and Vietnam is expected to further threaten Malaysia’s rubber product sales to the US by November 2025.

The report, titled “A Steep Slope To Climb; Still UNDERWEIGHT,” highlights the bleak prospects for the sector. Analysts at RHB, including Oong Chun Sung, emphasise that the competitive pricing strategies adopted by Chinese manufacturers are exacerbating the difficulties faced by the industry.

The anticipated new plants in Indonesia and Vietnam are poised to increase competition, potentially impacting Malaysia’s market share in the US. This development is expected to unfold as early as November 2025, adding pressure to an already strained sector.

RHB’s analysis underscores the challenges that the rubber products industry must navigate in the coming months. The combination of inventory issues and heightened competition presents a significant hurdle for companies operating within this space.

Looking ahead, the sector’s ability to adapt to these challenges will be crucial. The commissioning of new plants in neighbouring countries could reshape market dynamics, necessitating strategic adjustments from industry players. As the landscape evolves, stakeholders will need to closely monitor these developments to mitigate potential impacts on their operations.
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Singaporeans are increasingly viewing the US and its products unfavourably following the reintroduction of tariffs on Asian goods by Donald Trump, according to the latest SensingSG survey by Blackbox Research. The survey, conducted from 1 to 8 July 2025, highlights a significant shift in public sentiment, with nearly half of respondents indicating a worsened perception of the US.

The data reveals that 49% of Singaporeans now view President Trump negatively due to his tariff policies, whilst only 30% have a positive view. Furthermore, 35% of respondents have reduced their spending on American goods and services in the past six months, contrasting with increased spending on Singaporean and Chinese products.

David Black, CEO of Blackbox Research, noted, “The Trump tariffs are not just seen as abstract economic measures—they’re impacting cultural sentiment.” He added that many Singaporeans are reconsidering their purchasing decisions, with 44% planning to avoid American products in the future.

Chinese brands are gaining traction in Singapore, particularly in categories like electronics, fashion, and motor vehicles, where they have surpassed US offerings. This shift is occurring amidst a backdrop of rising domestic confidence, with 90% of Singaporeans believing the country is on the right track.

The survey also indicates improving economic sentiment, with 86% rating current national economic conditions positively and 57% expecting further improvement in the coming year. As Singaporeans experience easing cost pressures and stabilising fundamentals, the challenge remains to maintain this momentum in a volatile global environment.
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