Industry News

The Singapore Institute of Technology (SIT) has unveiled its Living Lab Network (LLN) at the Applied Learning Conference 2025, held at its new Punggol Campus. This initiative aims to enhance applied learning and industry innovation by integrating live systems such as a Multi-Energy Micro-Grid, District Cooling System, and Integrated Building Management System. These systems provide real-time data, enabling students to tackle real-world challenges in energy optimisation, smart infrastructure, and cybersecurity.

Scheduled for completion by the end of 2025, the LLN is a key component of SIT’s Campus as a Living Lab (CaLL) initiative. It will be linked to over 20,000 Internet-of-Things (IoT) sensors, creating a connected environment for students, faculty, researchers, and industry partners to co-develop and test digital solutions. The LLN supports SIT’s commitment to Competency-Based Education (CBE), equipping students with practical skills aligned with industry needs.

The LLN also serves as a “testbed-as-a-service” for industry partners to validate new technologies. SIT President Professor Chua Kee Chaing stated, “The Living Lab Network will be a cornerstone of SIT’s applied learning and applied research ecosystem. It reflects our dedication to enhancing the learning experiences of our students by providing them access to campus-scale systems and the real-time data they generate.”

In collaboration with NEC Asia Pacific, SIT is developing the infrastructure for the LLN, ensuring it supports both talent development and applied research. The initiative exemplifies SIT’s focus on creating a future-ready, skills-based workforce, a core theme of the Applied Learning Conference 2025.
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Chilli Manis has swiftly climbed the ranks to become one of Singapore’s highest-rated food caterers, achieving a 4.8-star rating on Google from over 1,300 reviews. Founded in 2018, the company has been recognised for its authentic Peranakan flavours and exceptional hospitality. Managing Director Benjamin Seow attributes this success to the culinary wisdom of his mother, Serene Hoh, and a commitment to treating every guest like family.

The journey of Chilli Manis began as a niche Peranakan catering concept. Seow recalls, “We started from absolute zero. Everything—from menus to props—was built in-house.” Despite initial challenges, including the impact of COVID-19, the team used the downtime to enhance their skills and focus on delivering true Peranakan hospitality. This dedication paid off, with the brand being honoured as Singapore’s Most Popular Promising Brand at the Singapore Prestige Brand Awards in 2024.

In celebration of Singapore’s 60th National Day, Chilli Manis is offering two special promotions. Customers can enjoy 60% off their first order with a minimum spend of $600 (£600), valid until 21 August 2025. Additionally, six individuals born on 9 August will receive a complimentary buffet worth $660 (£660).

Chilli Manis continues to create memorable dining experiences, blending tradition with heartfelt service. As Seow reflects, “Our greatest reward isn’t the awards—it’s seeing first-time customers become regulars and regulars become like family.” For more information on their offerings, visit their website.
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Colliers, in collaboration with List Sotheby’s International Realty, has announced the exclusive marketing of two iconic freehold conservation shophouses located at 136 and 138 Neil Road in Singapore’s Tanjong Pagar district. Designed by the renowned architectural firm Swan & Maclaren, these properties offer a blend of historical significance and modern functionality, making them a coveted asset in the commercial real estate market.

The shophouses, completed in 1926, feature a distinctive ‘stripped Classical’ style with cantilevered bay windows and reinforced concrete balconies, characteristic of the Bukit Pasoh conservation area. Spanning approximately 11,441 square feet, the properties underwent a comprehensive restoration in 2014, which included structural reinforcements and modern safety upgrades, all whilst preserving their historical façade.

Strategically located within walking distance of Outram Park, Maxwell, and Tanjong Pagar MRT stations, the properties offer excellent connectivity and are near vibrant lifestyle and business destinations such as Keong Saik Road and Duxton Hill. This prime location enhances their appeal to both investors and occupiers seeking a legacy-grade asset with potential for long-term capital appreciation and stable rental yields.

Expressions of Interest for this rare investment opportunity are invited by 25 July 2025. The offering underscores the limited availability of freehold commercial properties within conservation zones in Singapore, making it a significant opportunity for discerning investors.
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CBRE has announced the sale of a rare 3-storey freehold commercial building located at 13 Mosque Street in Singapore’s Chinatown Heritage District. The sale will be conducted through an Expression of Interest exercise, closing on 20 August 2025 at 3pm. This property offers a prestigious District 1 address and is strategically positioned in a high-traffic area, making it a prime opportunity for investors.

The building, which spans approximately 3,083 square feet on a 1,315 square foot plot, will be sold with vacant possession, allowing buyers immediate flexibility to occupy or reposition the asset. Clemence Lee, Executive Director of Capital Markets at CBRE, highlighted the property’s appeal, stating, “13 Mosque Street presents a unique opportunity to acquire a prime commercial asset within a highly sought-after district.”

The property’s location in Chinatown, a key attraction for both locals and tourists, ensures strong foot traffic, a trend bolstered by the recovery of the tourism sector. The Singapore Tourism Board reported a 21% increase in visitor arrivals in 2024, with further growth expected in 2025.

Potential buyers, including owner-occupiers, boutique real estate funds, and high-net-worth individuals, can explore various value-enhancement strategies. The ground floor could be converted for F&B use, whilst the upper floors might be reconfigured for co-living or hostel accommodations, subject to approval.

The property’s accessibility is enhanced by its proximity to the Chinatown MRT Interchange and major roads, making it an attractive investment in Singapore’s Central Business District.
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Singapore’s job market is under scrutiny as Jobstreet by SEEK unveils its latest salary data for 2025, highlighting the disparity between salary growth and inflation. With headline inflation averaging 2.4% in 2024 and projected to range between 1.5% and 2.5% in 2025, the question remains whether salaries are rising fast enough to match the increasing cost of living.

The report identifies key sectors where salary growth is outpacing inflation. Consulting, strategy, and science and technology sectors have seen salary hikes of 27%, significantly surpassing the projected inflation rate. Information and communication technology, legal, and banking and financial services also report notable increases, with salary growth ranging from 16% to 20%.

However, only 15% of companies have reported salary increments that match or exceed inflation, indicating a broader issue across various industries. Fresh graduates entering the workforce face a stark reality, with starting salaries varying by over $1,000 per month, depending on the industry.

Interestingly, some small and medium enterprises (SMEs) are offering higher median salaries than larger corporations in sectors such as consulting, insurance, and hospitality. This trend challenges the assumption that larger companies always provide better pay.

For jobseekers, the report suggests that a proactive approach, such as negotiating with current employers or exploring new opportunities, can lead to better financial outcomes. With 42% of businesses planning to expand their permanent headcount in the first half of 2025, the job market remains competitive and dynamic.

As Singapore’s job market evolves, staying informed and adaptable is crucial for both employees and employers to navigate the challenges of inflation and salary growth.
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ASEAN has solidified its position as a leading destination for foreign direct investment (FDI), with inflows reaching $225b in 2024, marking the second highest in its history. Singapore emerged as the largest recipient within ASEAN, attracting a record $143b, a 6% increase from the previous year. This is due to its status as a regional financial centre and its appeal in terms of political stability and connectivity.

ASEAN’s total represents a nearly 10% year-on-year increase, as reported in the latest World Investment Report by UNCTAD. The growth in ASEAN’s FDI outpaced the global increase of 3.7%, although it lagged behind the US and EU, which saw rises of 19.6% and 81.5%, respectively.

The surge in FDI is largely attributed to activities in supply chain–intensive manufacturing industries, reflecting multinational enterprises’ efforts to adapt to changing global trade dynamics.

Other ASEAN countries also experienced significant FDI growth. Indonesia saw a 13% increase to $24.2b, whilst Vietnam recorded its third consecutive year of record-high inflows, rising 9% to $20.2b. Malaysia and Thailand reported gains of 33% and 31%, respectively, as businesses pursued supply chain diversification and sustainability initiatives.

Despite global challenges, ASEAN’s strong fundamentals, such as a large youthful population and business-friendly policies, continue to attract investors. The establishment of the Johor-Singapore Special Economic Zone exemplifies cross-border collaboration, further boosting the region’s investment appeal. Looking forward, ASEAN is expected to remain a key driver of investment and trade, with positive prospects outlined in UOB’s report on the region’s outlook to 2030 and beyond.

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Dezign Format, a design-and-build specialist with over 35 years of experience, has lodged a preliminary offer document with the Singapore Exchange Securities Trading Limited (SGX-ST) as part of its proposed initial public offering (IPO). This strategic move is intended to expand the company’s growth opportunities and strengthen its market presence across Asia.

The company, known for delivering immersive experiential marketing and event management solutions, has appointed Evolve Capital Advisory Private Limited (ECA) as the sponsor, issue manager, and placement agent for the IPO. This backing by experienced professionals underscores Dezign Format’s commitment to leveraging its industry expertise for further expansion.

The IPO marks a significant milestone for Dezign Format, which has built a trusted reputation over the decades. The company aims to capitalise on its proven track record to attract investors and enhance its competitive edge in the market. The listing on SGX-ST is expected to provide Dezign Format with the necessary platform to reach a broader audience and secure additional resources for future projects.

As the company moves forward with its IPO plans, it remains focused on delivering innovative solutions to its clients across various sectors. The success of this offering could potentially set the stage for further growth and development within the industry.
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The latest report from PropNex Research reveals a significant slowdown in Singapore’s landed home sales during the first half of 2025, attributed to the introduction of sweeping US tariffs that have caused market volatility and weakened buyer sentiment. Despite softer interest rates and increased private housing demand, the number of landed home transactions fell to 856, totalling approximately $4.9b, down from 1,033 transactions worth $5.5b in the latter half of 2024.

The Good Class Bungalow (GCB) segment experienced a notable decline, with only seven deals valued at nearly $253m recorded, marking the lowest sales volume since at least 2019. PropNex attributes this to a mismatch in price expectations between buyers and sellers, alongside the impact of interest rate hikes since mid-2022.

Conversely, the prestige landed homes segment, defined as properties valued over $10m, saw a resurgence with 67 transactions amounting to about $911m, reflecting a 34% increase from the previous half-year. PropNex anticipates that Singapore’s status as a safe haven will continue to support demand for luxury and prestige landed housing, despite ongoing market uncertainties.

Looking ahead, PropNex remains optimistic about the GCB market, expecting prices to stabilise and sales to potentially rebound by mid-2026, driven by the limited supply of such exclusive properties in land-scarce Singapore.

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Moove Media has unveiled the 3D SG60 Bus fleet to mark Singapore’s 60th year of independence. These limited-edition buses, adorned with intricate 3D sculptures of the nation’s iconic landmarks, will traverse the island, showcasing Singapore’s rich heritage and vibrant future. The campaign, involving brands like Burger King, Jewel Changi Airport, and StarHub, aims to engage the public with national pride through these mobile tributes.

The 3D SG60 Buses feature miniature replicas of architectural icons such as Marina Bay Sands and Gardens by the Bay. Each bus is also equipped with a 3D ‘SG60’ lightbox in vibrant colours, symbolising unity in diversity. Jeffrey Kwek, CEO of Moove Media, stated, “The 3D SG60 Bus is more than just a bus; it’s a statement of unity and progress.”

The campaign has attracted a diverse range of partners, including Axe Brand Universal Oil and Mandai Wildlife Group. Leong Sin Kuen of Axe Brand Universal Oil remarked on the campaign’s blend of tradition and innovation, whilst Sandy Lee from Mandai Wildlife Group highlighted its role in celebrating Singapore’s 60th birthday.

Currently, 21 bus services are part of the 3D SG60 fleet, with brands like PropNex and The Learning Lab already displaying their messages. This initiative not only celebrates a national milestone but also offers a unique advertising platform, reflecting Moove Media’s commitment to innovative out-of-home advertising.
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APAC Realty has seen a significant rebound in its share price, climbing 22% since the start of the year, as it capitalises on Singapore’s thriving residential sales market. The company has maintained a “BUY” recommendation, with a revised target price of S$0.54, up from S$0.48, indicating a potential 15% upside. This optimism is fuelled by anticipated continued sales momentum, bolstered by upcoming property launches and strong buyer sentiment.

The company’s management has been actively engaging in share buybacks, a move that is expected to enhance the company’s bottom line. APAC Realty is also offering an attractive yield of approximately 7%, trading at a modest 12 times its forecasted price-to-earnings ratio for the financial year 2025.

Analyst Vijay Natarajan noted the company’s strategic position, stating, “The rally still has legs with sales momentum likely to continue on the back of attractive upcoming launches and firm buying sentiment.”

This development is significant as it reflects the broader positive trends in Singapore’s real estate market, which has been buoyed by strong demand and favourable economic conditions. The company’s proactive measures, such as share buybacks, further underscore its commitment to enhancing shareholder value.

Looking ahead, APAC Realty’s performance will likely continue to be influenced by the overall health of the Singaporean property market and its ability to leverage upcoming opportunities.
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