Industry News

Food Empire Holdings (FEH), a Singapore-based food and beverage company, has announced a second supplemental agreement with Ikhlas Capital to address its redeemable exchange note (REN). The agreement, revealed on 1 July 2025, seeks to mitigate potential revaluation losses or gains by adopting a “fixed-for-fixed” accounting classification. This move is intended to reflect the company’s true earnings power and eliminate non-cash impacts on reported earnings due to fair value changes.

The agreement includes the appointment of RHT Capital as an independent financial adviser, which has confirmed that the amendments do not advantage REN holders. Additionally, the definition of a “company liquidity event” has been clarified, requiring acceptance and approval by FEH for any proposed bona fide offer. Constraints on dividend payments and share issuance below the exchange price will be addressed through cash compensation to REN holders.

FEH is also conducting an independent valuation to reassess financial liabilities and fair value changes from the start of the financial year. A potential fair value loss, estimated at approximately $20m (£15.5m), may be recognised in the first half of 2025 due to a significant increase in FEH’s share price. However, this loss is non-cash and will not affect the company’s cash flow or actual earnings power.

The company is considering a bonus issue for the financial year 2025, given the last such issue was in 2008 and coincides with Singapore’s 60th independence anniversary. Analysts see potential share price weakness as an opportunity to invest in FEH, with a target price of S$2.28 ($1.67) based on a projected earnings growth rate of 10.3% from 2024 to 2027.
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A recent study commissioned by Neat reveals that outdated meeting technologies are costing Asia-Pacific (APAC) businesses a staggering $8.5m annually for a typical 1,000-employee company. The report, titled “From Lagging to Leading: How Smart Collaboration Redefines Work in Asia/Pacific,” surveyed 1,080 executives across the region and found that organisations lose an average of 4.5 hours per employee each week due to malfunctioning video calls and inefficient collaboration tools.

The study underscores the pressing need for APAC companies to adopt modern, intelligent collaboration technologies to enhance productivity and maintain competitive advantage. Despite a significant portion of employees returning to the office, with over 65% spending three to four days in-office, the technology supporting hybrid work models has not kept pace. This is particularly crucial as 72% of meetings now involve videoconferencing with remote colleagues.

Niko Walraven, Area Vice President for APAC at Neat, emphasised the financial and productivity implications, stating, “What many businesses might consider ‘good enough’ collaboration technology is, in reality, costing them significantly in both time and money.”

The report also highlights regional variations, with 29% of Singaporean organisations anticipating a shift to 100% in-office work within 18 months, increasing the demand for efficient meeting room technologies. Meanwhile, in India, companies face the second-highest productivity loss due to outdated tech, costing $9m annually for a 1,000-employee firm.

As the workplace evolves, the study predicts that by 2028, 70% of G1000 employee content will be enhanced with advanced modalities to boost collaboration. The findings suggest that investing in AI-driven, user-friendly collaboration tools is essential for transforming meeting culture and driving innovation and growth.
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Global experts convened at the SMU City Dialogues in Vienna on 2 July 2025 to discuss the pressing issue of urban resilience. Organised by Singapore Management University (SMU) in partnership with Urban Innovation Vienna, the event gathered over 100 attendees from 20 countries, including representatives from more than 20 universities and over 30 organisations. The dialogue, a partner event of the World Cities Summit 2025, aimed to explore the value of urban resilience through various thematic tracks.

The event featured a keynote address by Jürgen Czernohorszky, Executive City Councillor for Climate, Environment, Democracy, and Personnel of Vienna. Discussions centred around three core dimensions: finance and public-private partnerships, social equity and environmental sustainability, and innovation and technology. SMU professors Winston Chow and Orlando Woods, alongside Johannes Lutter from Urban Innovation Vienna, led a session summarising key takeaways.

Professor Winston Chow emphasised that urban resilience requires aligning financial systems with social goals and building trust through governance. He warned against overreliance on public-private partnerships, stating, “They require competent, stable governments, extensive due diligence, and clear alignment of interest.”

Professor Orlando Woods highlighted the limitations of digital solutions, noting, “It’s not about being a smart city. It’s about being a smart enough city.” He stressed that technology should not overshadow deeper systemic issues like inequality and infrastructural neglect.

Dr Johannes Lutter advocated for socially inclusive resilience, urging targeted action for vulnerable communities and fostering collaboration between governments and citizens.

The SMU City Dialogues series, initiated in 2019, aims to generate actionable recommendations for sustainable urban development through candid exchanges among policymakers, academics, and business leaders.
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Booking.com has announced a significant expansion of its Travel Proud programme, which aims to make travel more inclusive for LGBTQ+ individuals. Recent research by the company highlights that 80% of LGBTQ+ travellers in Singapore feel their identity impacts their travel planning, with 74% prioritising destinations where they can be their authentic selves.

The Travel Proud initiative, launched in 2021, offers free inclusive hospitality training to help accommodations better understand and cater to the needs of LGBTQ+ guests. This year, the number of Travel Proud certified properties has surged by 49%, reaching over 100,000 across more than 150 countries. This growth reflects a broader commitment within the travel industry to embrace diversity and inclusivity.

For Singaporean LGBTQ+ travellers, the increased inclusivity has made 84% feel more comfortable when travelling. Booking.com is celebrating this milestone by sharing a list of ten LGBTQ+ friendly destinations worldwide, including Sydney, Pattaya, and Wellington, each offering unique experiences and safe spaces for the community.

Sydney, for instance, is renowned for its vibrant pride scene and events like the Sydney Gay and Lesbian Mardi Gras. Meanwhile, Pattaya boasts a lively LGBTQ+ culture with its famous Boyztown district. Wellington is celebrated for its progressive laws and thriving queer scene.

Booking.com’s efforts aim to remove barriers in travel, ensuring that everyone, regardless of identity, can enjoy seamless and welcoming experiences. As the travel landscape evolves, the company continues to champion inclusivity, making it easier for LGBTQ+ travellers to explore the world confidently.
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XL Ventures, a Singapore-based climate tech company, has received in-principle approval from the Monetary Authority of Singapore (MAS) to operate as a licensed Venture Capital Fund Manager. Founded by Amit Sharma and Saroj Mishra, the firm aims to invest in tech start-ups that utilise data sensors and artificial intelligence (AI) to optimise energy consumption in commercial buildings and power infrastructure.

The founders emphasised the importance of immediate and scalable solutions, stating, “All climate technologies required to save the planet already exist; the missing piece is rapid global scaling.” They believe that software and AI can optimise complex energy systems, offering both commercial and environmental benefits.

XL Ventures plans to partner with early-stage companies, providing hands-on support to help them scale in Asia. The firm also aims to collaborate with large local conglomerates to facilitate market access. “We see significant opportunities for European tech start-ups in the efficiency and smart-tech space,” Sharma and Mishra noted, highlighting the alignment with government and private sector agendas in Singapore, India, and other Asian economies.

The company is already assisting several UK-based start-ups in gaining traction in these markets. With a shift in focus from the US to Asia and the GCC economies, XL Ventures is poised to play a pivotal role in advancing climate tech solutions across the region.
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TECHKLOUD has officially launched its exclusive online shopping channel in Singapore, providing consumers with convenient access to high-quality products from over 20 countries. The platform offers a diverse range of items, from Japanese and Korean beauty products to Nordic home goods, ensuring that the shopping needs of Singaporeans are met with ease and efficiency.

The new channel promises a seamless shopping experience with a fully compliant customs process, ensuring products are delivered directly to Singapore. Core areas can expect shipments within three to five business days, and a real-time package tracking system is available to keep consumers informed about their purchases. All products on the TECHKLOUD platform are officially authorised, guaranteeing authenticity and quality.

To enhance customer satisfaction, TECHKLOUD offers a flexible 15-day return and exchange policy, allowing consumers to return or exchange items if they do not meet expectations. The platform supports multiple payment methods, including PayNow, GrabPay, PayPal, credit cards, and NETS, with all transactions secured by the Monetary Authority of Singapore (MAS).

The platform’s launch marks a significant step in TECHKLOUD’s commitment to providing a fast, safe, and convenient shopping experience. With categories spanning fashion, consumer electronics, home goods, toys, and sports equipment, TECHKLOUD is poised to lead e-commerce development in rapidly growing markets. The company emphasises exceptional service, offering free returns, multiple payment options, and comprehensive customer support in English and Mandarin.
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The United Kingdom and Singapore have reinforced their financial collaboration during the 10th UK-Singapore Financial Dialogue held in London on 3 July 2025. The discussions centred on digital finance, innovation, sustainable finance, capital markets, and international regulatory developments, highlighting the ongoing partnership between the two nations.

The dialogue saw both countries exchanging insights on digital finance, particularly in tokenisation and artificial intelligence (AI). The Financial Conduct Authority (FCA) and the Monetary Authority of Singapore (MAS) agreed to enhance their collaboration on Project Guardian, focusing on asset tokenisation. Additionally, they plan to develop joint initiatives on AI, starting with the FCA-MAS AI Innovation Showcase in London.

In sustainable finance, the UK and Singapore shared updates on their respective strategies. The UK discussed its Transition Finance Market Review and the creation of the Transition Finance Council, whilst Singapore highlighted the adoption of the Singapore-Asia Taxonomy. Both nations acknowledged the importance of high-integrity carbon markets and discussed initiatives to promote them.

Capital markets were also a key focus, with the UK outlining recent pension reforms and its commitment to a T+1 settlement cycle by October 2027. MAS provided updates on measures to enhance liquidity and attract quality listings.

The dialogue concluded with a commitment to continue engagement beyond the event, with plans for further cooperation in sustainable finance and innovation ahead of the next dialogue in Singapore in 2026. The event was followed by an industry-led UK-Singapore business roundtable, further solidifying the partnership between the two countries.
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The 9th ASEAN Conference, organised by the Singapore Business Federation (SBF) and supported by United Overseas Bank (UOB), RSM Singapore, and Rajah & Tann Singapore, concluded today at the Resorts World Convention Centre in Singapore. The event, themed “ASEAN Integration in a Multipolar World,” gathered high-level government officials, regional thought leaders, and investors to discuss strategies for maintaining ASEAN’s relevance and cohesion in a rapidly changing global landscape.

The conference coincided with the ASEAN Economic Community (AEC) Blueprint 2025 milestone, serving as a platform to reaffirm ASEAN’s unity and competitiveness. Discussions focused on the region’s ability to harness its diverse workforce and build resilience to thrive in global trade and investment. A Ministerial Dialogue featured key figures such as Singapore’s Deputy Prime Minister, Gan Kim Yong, and Malaysia’s Deputy Minister for Investment, Trade and Industry, Liew Chin Tong, who emphasised the need for deeper collaboration.

A business plenary session explored adaptable strategies through partnerships and emerging industries. Notable speakers included Arthur Lang from Singtel and Christopher Ong from DHL Express Singapore. The conference also introduced the ASEANext Forum, engaging over 120 young entrepreneurs in dialogue about ASEAN’s trade potential.

The event attracted more than 600 delegates, highlighting ASEAN’s commitment to sustainable growth and regional cooperation. As the region faces global uncertainties, the conference underscored the importance of a united ASEAN front to ensure long-term prosperity.
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Thales has unveiled its 2025 Cloud Security Study, conducted by S&P Global Market Intelligence 451 Research, highlighting significant challenges faced by organisations in Singapore and the Asia Pacific (APAC) region in securing cloud environments. The study reveals that nearly half of Singaporean respondents (49%) are prioritising AI security investments, indicating a shift in budget allocation due to the rapid adoption of AI technologies.

The report underscores that cloud security remains a top concern, with 60% of Singapore respondents ranking it among their top five security priorities. This mirrors the broader APAC trend, where 60% also consider cloud security a priority. However, the complexity of securing cloud environments is evident, as 69% of Singaporean respondents find cloud security more challenging than on-premises infrastructure, compared to 58% in APAC.

The study also highlights the growing use of Software as a Service (SaaS) applications, with Singaporean enterprises using an average of 77 applications, contributing to security tool sprawl. Despite the high percentage of sensitive data in the cloud, only 76% of Singaporean organisations have implemented multifactor authentication, leaving critical data exposed.

Daniel Toh, Chief Solutions Architect for Asia Pacific & Japan at Thales, stated, “The accelerating shift to cloud and AI is forcing enterprises to rethink how they manage risk at scale.” The study indicates that human error remains a significant vulnerability, with a rise in user credential attacks reported by 25% of Singapore respondents.

As organisations continue to expand their cloud usage, the need for robust security measures becomes increasingly critical. The findings suggest that whilst AI security is gaining importance, there is still a need for comprehensive strategies to address the evolving threat landscape in cloud environments.
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Tata Consultancy Services (TCS) has launched an AI-Powered Research & Innovation Centre in Singapore, aiming to accelerate digital transformation and cement Singapore’s status as a global innovation leader. The centre, located at the TCS Asia Pacific Office in Changi Business Park, was inaugurated with the presence of Alvin Tan, Minister of State for the Ministry of National Development and the Ministry of Trade & Industry, Singapore.

The centre will serve as a collaborative hub, bringing together startups, academia, and enterprises across the Asia Pacific region to co-create scalable AI solutions. This initiative aligns with Singapore’s Smart Nation vision, supporting its ambition to become a digital-first economy by leveraging advanced technologies.

Jermaine Loy, Managing Director of the Economic Development Board, Singapore, remarked, “We welcome TCS’ new AI-powered Research and Innovation Centre to Singapore’s growing and vibrant innovation ecosystem. The centre’s focus on helping local businesses accelerate their digital transformation and training graduates to have in-demand digital skills is aligned with Singapore’s push for AI to be used responsibly to boost productivity and competitiveness.”

The centre is part of TCS’s global innovation ecosystem, TCS Pace™, which includes hubs in cities like Amsterdam, London, and New York. It will explore AI applications across industries to enhance productivity and drive sustainable growth. Girish Ramachandran, President – Growth Markets, TCS, highlighted Singapore’s strategic position as a technology hub, stating, “This new AI centre will connect Singapore with other innovation hubs, enabling cross-border collaboration and knowledge exchange.”

TCS’s commitment to Singapore’s innovation landscape is further evidenced by its past initiatives, such as the Digital Acceleration Centre launched in 2018. The new centre will also focus on addressing talent gaps and supporting local startups, thereby strengthening Singapore’s economy and workforce readiness.
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