Industry News

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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Singapore Airlines (SIA) Group reported a significant rise in passenger traffic for June 2025, with a 4.5% increase compared to the previous year. This surge was driven by the onset of the summer travel season and mid-year school holidays in Singapore. The group’s passenger load factor (PLF) improved by 1.3 percentage points to 88.7%, with SIA and its low-cost subsidiary, Scoot, achieving PLFs of 87.7% and 92.2% respectively.

The combined efforts of SIA and Scoot resulted in carrying 3.5 million passengers, marking an 8.2% increase from June 2024. The available seat-kilometres (ASK) for the group rose by 3.1%, whilst revenue passenger-kilometres (RPK) increased by 4.5%, reflecting the robust demand for air travel.

On the cargo side, the SIA Group experienced a modest 0.4% increase in cargo loads, which did not keep pace with the 3.3% growth in cargo capacity. Consequently, the cargo load factor fell by 1.6 percentage points to 56.4%. This was attributed to front-loading activities amidst uncertainties in the global trade environment.

In June, Scoot expanded its network by launching a three-times weekly service to Vienna, Austria. By the end of the month, the SIA Group’s passenger network spanned 129 destinations across 37 countries and territories, with SIA serving 78 destinations and Scoot 73. The cargo network covered 133 destinations in 38 countries and territories.
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Global investment platform eToro has announced its expansion into Singapore after receiving a Capital Markets Services (CMS) licence from the Monetary Authority of Singapore (MAS). This development marks a significant milestone for eToro, allowing eligible retail investors in Singapore to access a wide range of financial instruments on its social investing platform.

Yoni Assia, eToro’s Co-Founder and CEO, highlighted the importance of this move, stating, “Singapore is one of the most dynamic financial markets in Asia-Pacific and a gateway to global capital flows.” The CMS licence enables eToro to offer stocks from over 20 leading stock exchanges, exchange-traded funds, and derivatives to Singaporean investors.

The expansion is further bolstered by the appointment of Yaki Razmovich as Managing Director of eToro Singapore and Asia. Razmovich expressed enthusiasm about the company’s growth in the region, saying, “We are excited to be part of this dynamic market and to contribute to its growth by providing investors in Singapore with access to a wide range of financial instruments.”

eToro’s platform allows users to view other investors’ portfolios, interact with them, and practise trading using a Virtual Portfolio. The company also offers extensive educational resources through the eToro Academy.

This strategic expansion into Singapore is part of eToro’s broader mission to connect investors globally and provide them with the tools to enhance their financial knowledge and wealth. As eToro continues to grow its presence in the Asia-Pacific region, it aims to invest in local talent and partnerships, further embedding itself within Singapore’s fintech ecosystem.
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Seatrium Limited has announced the delivery of its first turnkey Floating Production Storage and Offloading vessel (FPSO), the PETROBRAS 78 (P-78), to Brazil’s national oil company, Petrobras. The vessel, which recently set sail from Seatrium’s Singapore yard, will be deployed in Brazil’s Buzios field, the largest deepwater oil field globally. The P-78 boasts a production capacity of 180,000 barrels of oil per day, 7.2 million cubic metres of gas per day, and a storage capacity of 2 million barrels of oil.

The P-78 is part of Seatrium’s One Seatrium Global Delivery Model, which involves collaboration with industry leaders across its shipyards in Singapore, China, and Brazil. The vessel’s topside modules, weighing 54,000 tonnes, were fabricated globally, with integration and commissioning completed in Singapore. Upon reaching the Buzios field, Seatrium will conduct the final offshore commissioning.

Chris Ong, CEO of Seatrium, expressed pride in delivering the first of a series of FPSOs to Petrobras, highlighting the company’s commitment to supporting Petrobras in reducing carbon emissions. Renata Baruzzi, Executive Officer for Engineering, Technology and Innovation at Petrobras, described the P-78 as a testament to Petrobras’ legacy in FPSO construction and operation.

The P-78 project is expected to significantly contribute to Brazil’s oil and gas sector by increasing national oil production and creating thousands of local jobs. The project also emphasises local content development and workforce training, enhancing long-term skills in Brazilian shipyards.
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Singapore’s investment market has shown resilience in the face of global uncertainties, with a significant rebound in Q2 2025. According to a report by Colliers, investment sales increased by 14.7% quarter-on-quarter, reaching $5.6b ($7.6b). This growth was primarily driven by large portfolio transactions, commercial deals, and the privatisation of Paragon REIT.

Government Land Sales (GLS) played a notable role, contributing $1.2b ($1.6b), or 21.2% of the total investment volume. Excluding GLS, the industrial sector led the activity with 26%, followed closely by retail and mixed-use sectors, each accounting for 23%.

Steven Tan, Executive Director and Co-Head of Investment Services at Colliers, noted, “Singapore’s real estate market remains resilient, with stable prices and rents. The outlook for 2025 remains positive, albeit with a more selective and strategic approach from both developers and investors.”

Colliers forecasts that full-year 2025 investment sales will reach between $21.4b and $23.6b ($29b and $32b), marking a 10–20% increase year-on-year. Catherine He, Head of Research at Colliers, highlighted that liquidity is a key priority for both buyers and sellers, with a focus on assets offering income resilience and lower exposure to external shocks.

The report underscores continued investor confidence in Singapore’s real estate market, despite global headwinds. Looking ahead, investors are expected to focus on core, core-plus, and value-add strategies, particularly where temporary market dislocations present pricing advantages.

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In June 2025, developers launched two notable projects, Amber House and Arina East Residences, marking the first time since 2023 that new projects have been introduced during the June school holidays. This move resulted in the launch of 187 units, a significant 835% increase from May 2025 and 58.5% higher than the same period last year. Despite a 12.8% month-on-month decline, developers sold 272 units, which is 19.3% higher than June 2024, according to Huttons Asia CEO, Mark Yip.

Amber House is the first project in the Amber area since 2019, whilst Arina East Residences is the first in Tanjong Rhu in 12 years. The Rest of Central Region (RCR) accounted for nearly 70% of sales, with the Outside Central Region (OCR) contributing around a quarter. Notably, Bloomsbury Residences and One Marina Gardens remained the top-selling projects for the third consecutive month.

Singaporeans dominated the buyer demographic, making up 85.3% of purchases, with permanent residents (PRs) accounting for 13.2%. High-value transactions included a $30.87 million unit at Skywaters Residences, purchased by a PR, and two $15 million units at 32 Gilstead, one acquired by a China PR.

Looking ahead, the market anticipates strong interest in upcoming projects, with 10 developments, including an executive condominium (EC), slated for launch in July and August 2025. These launches are expected to drive sales between 600 and 700 units in July, with annual sales projected to reach between 7,500 and 8,500 units. Prices are forecasted to rise by 4% to 7% in 2025.
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Singaporeans looking to invest in international residential properties can explore a wealth of opportunities at the Global Property Expo, organised by JLL. The event will take place from 18 to 20 July 2025 at the Sands Expo and Convention Centre, offering free entry to attendees. This premier exhibition will feature over 30 exhibitors and expert advisers, providing a comprehensive platform for those considering property purchases abroad.

The Expo promises a global showcase, with properties from over 20 countries, including destinations such as Bali, Lisbon, Dubai, and Tokyo. Notably, DAMAC Properties will present a selection of its signature waterfront developments. The event also marks the Asian debut of ThirdHome, introducing a novel investment model for property ownership.

Attendees can benefit from a series of talks, including a keynote address by Adam Challis from JLL, focusing on market foresight. The Expo will also cover how technology is transforming property ownership through tokenised buying and membership models. A livestreamed panel on 20 July will provide a practical checklist for prospective buyers, covering due diligence, financing, and legal considerations.

The Expo offers direct engagement with developers, legal advisers, and mortgage experts. Additionally, immigration specialists will discuss residency options linked to property purchases, making this event a must-attend for Singaporeans interested in international real estate investments.
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Standard Chartered has announced the launch of a fully integrated digital assets trading service for institutional clients, marking a significant milestone in the financial services industry. The service, available through the bank’s UK branch, includes spot trading for Bitcoin (XBT/USD) and Ether (XET/USD) and will soon expand to include non-deliverable forwards (NDFs). This makes Standard Chartered the first global systemically important bank to offer deliverable spot cryptoasset trading to corporates, investors, and asset managers.

The new trading service is seamlessly integrated with Standard Chartered’s existing platforms, allowing institutional clients to trade cryptoassets through familiar foreign exchange interfaces. Clients can choose their preferred custodian, including Standard Chartered’s own secure digital assets custody solutions. As a Financial Conduct Authority (FCA)-registered cryptoasset service provider, the bank ensures a regulated and secure trading environment, supported by its robust balance sheet and institutional-grade risk controls.

Bill Winters, Group Chief Executive of Standard Chartered, emphasised the importance of digital assets in the evolution of financial services, stating, “Digital assets are a foundational element of the evolution in financial services. They’re integral to enabling new pathways for innovation, greater inclusion, and growth across the industry.”

Tony Hall, Global Head of Trading and XVA, Markets, at Standard Chartered, added, “With growing interest in regulated digital assets solutions, we are well positioned to meet client needs whilst capturing the opportunities in this space.”

This launch is part of Standard Chartered’s broader strategy to expand its digital asset capabilities, which already include custody and trading services through its ventures, Zodia Custody and Zodia Markets, and digital asset tokenisation services via Libeara.
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Developers in Singapore experienced a slowdown in sales for June 2025, with only 272 new private homes sold, marking a 12.8% decrease from May’s 312 units. This decline is attributed to limited new project launches during the school holidays. Despite the dip, sales were up 19.3% compared to June 2024, according to data from the Urban Redevelopment Authority (URA).

Only two new projects were introduced in June: Arina East Residences and Amber House, both located in District 15. These projects contributed to the 187 new units launched, a significant increase from the 20 units in May. The Rest of Central Region (RCR) continued to lead sales, with 189 units sold, slightly down from 191 in May. Notable projects included One Marina Gardens and Bloomsbury Residences.

The Outside Central Region (OCR) saw a 34.9% drop in sales, with 69 units sold, the lowest in over a year. Hillock Green was the top seller in this region. In the Core Central Region (CCR), only 14 units were sold, the lowest since January 2009. High-value transactions included a $30.87 million unit at Skywaters Residences.

Executive condominiums (ECs) saw a rise in sales, with 33 units sold, up 37.5% from May. The upcoming launch of Otto Place EC is expected to boost this segment further.

Wong Siew Ying, Head of Research & Content at PropNex Realty, noted, “June was a relatively quiet month for developers’ sales, but the lull is expected to be short-lived with sales projected to pick up in July as several new launches are lined up.” Upcoming projects in July, including LyndenWoods and UpperHouse, are anticipated to revitalise the market.
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