Industry News

CSE Global Limited has announced significant contract variations valued at US$143.5m (approximately S$186.3m) for the data centre market in the United States. This extension with an existing hyperscaler customer involves the design, engineering, fabrication, installation, and integration of power management systems and solutions.

The Group’s Managing Director and CEO, Lim Boon Kheng, highlighted the importance of these contract variations, stating, “The awarding of these contract variations reflects the continued confidence and trust in our solutions and services. Since last year, we have built strong order momentum in the rapidly expanding data centre market, driven by the growing demand for cloud services.”

These contract variations are anticipated to positively impact CSE Global’s financial performance for the year 2026. However, they are not expected to materially affect the company’s consolidated net tangible assets per share or earnings per share for the current financial year. Notably, none of the directors or substantial shareholders of CSE Global have any direct or indirect interest in these contracts.

CSE Global, a leading systems integrator, has been listed on the Singapore Exchange since 1999 and operates across 15 countries with over 2,000 employees. The company is renowned for its electrification, communications, and automation solutions, serving a diverse range of industries globally.

Digital Core REIT, a prominent data centre real estate investment trust listed in Singapore, has announced a significant 10-year lease agreement with a global cloud service provider for its facility at 8217 Linton Hall Road, Virginia. This deal, commencing on 1 December 2026, is set to generate approximately US$14.8m in annualised net property income, with Digital Core REIT’s 90% share amounting to US$13.3m, marking a 35% increase from previous net rent.

The lease will bring the Linton Hall facility to full occupancy, enhancing the overall portfolio occupancy from 81% to 98%. Additionally, the annualised rent contribution from investment-grade customers will rise from 79% to 82%, whilst the portfolio’s weighted average lease expiration will extend from 4.7 years to 5.7 years.

John J. Stewart, CEO of Digital Core REIT Management Pte. Ltd., expressed satisfaction with the agreement, stating, “We are pleased that our Linton Hall facility was well positioned to meet the needs of this strategically important customer.” He highlighted the role of Digital Realty’s global platform and the strength of data centre fundamentals in facilitating this transaction, which aims to capture growth potential and enhance long-term unitholder value.

This strategic move underscores Digital Core REIT’s commitment to leveraging its industry-leading acquisition pipeline for sustained growth and stability in the data centre sector.

Singapore’s economy demonstrated robust growth in 2025, with the gross domestic product (GDP) increasing by 4.8% in 2025. The fourth quarter was particularly strong, with a 5.7% rise, according to the latest figures released by the Ministry of Trade and Industry.

The impressive fourth-quarter performance underscores Singapore’s economic resilience amidst global uncertainties. This growth is attributed to a combination of factors, including a rebound in the services sector and increased manufacturing output. The services sector, a significant contributor to the GDP, saw a notable uptick due to heightened consumer demand and a recovery in tourism.

Manufacturing also played a crucial role, driven by advancements in electronics and biomedical manufacturing. These sectors benefited from increased global demand and technological innovations, contributing significantly to the overall economic expansion.

The annual growth rate of 4.8% reflects a steady recovery from the challenges posed by the COVID-19 pandemic. It highlights Singapore’s strategic economic policies and its ability to adapt to changing global conditions. The government has been proactive in implementing measures to support businesses and stimulate economic activity, which has been pivotal in achieving these growth figures.

CapitaLand Investment Limited has announced its acquisition of a 20.2% interest in three data centres in India for S$99.73m. This strategic investment aims to bolster CapitaLand’s presence in the rapidly growing Indian data centre market, which is experiencing increased demand due to digitalisation and data consumption.

The acquisition, facilitated through the CapitaLand India Data Centre Fund, marks a significant expansion for the company in the region. The data centres are expected to enhance CapitaLand’s portfolio by providing robust infrastructure to support the burgeoning digital economy in India.

The investment underscores CapitaLand’s commitment to expanding its data centre footprint in key markets. The company has been actively seeking opportunities to capitalise on the growing need for data storage and processing facilities, driven by the surge in internet usage and cloud computing.

CapitaLand’s decision to invest in these data centres aligns with its strategy to diversify its asset base and tap into high-growth sectors. The acquisition is anticipated to generate substantial returns, given the increasing reliance on digital services across various industries.

This move is part of CapitaLand’s broader plan to strengthen its position in the global data centre market, which is projected to continue its upward trajectory in the coming years. As the demand for data centres rises, CapitaLand is poised to benefit from its strategic investments in this sector.

The Monetary Authority of Singapore (MAS) has announced a series of significant enforcement actions taken in the fourth quarter of 2025, targeting insider trading, insurance fraud, and regulatory breaches. These actions underscore MAS’s commitment to maintaining the integrity of Singapore’s financial centre.

In October, MAS, in collaboration with the Commercial Affairs Department of the Singapore Police Force, charged Xie Jianfeng with insider trading and deception related to Sasseur Real Estate Investment Trust. Additionally, MAS issued three-year prohibition orders against Tham Kok Tong, Marcus, and Charles Chong Yong Qin, former representatives of Great Eastern Financial Advisers, for failing to meet Fit and Proper conditions.

Further actions included a civil penalty of $36,500 (S$50,000) imposed on Tan Tee Beng for insider trading in Tee International Limited and Tee Land Limited shares. MAS also issued prohibition orders against Benjamin Song Junde and Charn Sze Choong for insurance fraud, and against Tang Boon Hai for false trading and other offences.

In a significant move, MAS revoked the Capital Markets Services Licence of One Heritage Capital Management (SG) Pte Ltd due to breaches of the Securities and Futures Act 2001. November saw a civil penalty of $100,000 (S$137,000) imposed on Ang Yew Jin Eugene for insider trading in Alpha Energy Holdings Limited shares.

These enforcement actions highlight MAS’s rigorous approach to deterring misconduct and safeguarding Singapore’s financial sector.

Singapore’s private residential property market experienced a slowdown in price growth during the fourth quarter of 2025, according to the Urban Redevelopment Authority’s (URA) flash estimates. Prices increased by 0.7% quarter-on-quarter, a decrease from the 0.9% rise in the previous quarter. This brings the full-year growth to 3.4%, the slowest pace since 2020, when prices rose by 2.2% amid the COVID-19 pandemic.

The decline in growth was notably influenced by a 3.2% drop in non-landed prices in the Core Central Region (CCR), attributed to realistic pricing at the new Skye at Holland development. Despite this, the project saw a near sell-out, with 99% of its units sold during the launch weekend.

Overall, 2,876 new private homes were sold in Q4 2025, a 12.5% decrease from the previous quarter due to fewer launches. However, the total number of new private homes sold in 2025 reached 10,667, nearly doubling the 6,469 units sold in 2024, marking a four-year high.

Tricia Song, CBRE Head of Research for Singapore and Southeast Asia, noted that the market was buoyed by lower interest rates and better-than-expected economic conditions. “Despite persistent trade uncertainty and geopolitical tensions, Singapore’s 2025 GDP growth outperformed, rising 4.8% for the full year,” Song stated.

Looking ahead, CBRE Research anticipates that whilst buying sentiment will remain strong in 2026, sales volumes may ease due to fewer launches and the normalisation of demand. Private home prices are expected to grow between 2% and 4%, aligning with the projected GDP growth of 1% to 3% for 2026.

Singaporean scientists from the ASTAR Institute of Molecular and Cell Biology have made a breakthrough in understanding gastric cancer recurrence by identifying cancer stem cells marked by the protein Aquaporin5 (AQP5). Published in the journal Science, the study reveals that targeting these AQP5-expressing cells can prevent tumours from regrowing, even in advanced stages where cancer has spread to other organs.

Gastric cancer is a major health issue in Singapore and Asia, with high recurrence rates contributing to poor survival outcomes. The disease often returns after initial treatment, spreading to organs like the liver or lungs. Researchers have long suspected that a small population of cancer stem cells survives conventional therapies, leading to tumour regrowth.

The ASTAR team discovered that AQP5 not only marks these cancer stem cells but also contributes to their aggressive behaviour. By eliminating AQP5-expressing cells in laboratory models, researchers observed that tumours stopped growing or shrank and did not recur. This finding offers a promising target for developing new therapies aimed at achieving lasting remission for patients.

Prof Nick Barker, Senior Principal Scientist at ASTAR IMCB, stated, “These findings give us a defined target to pursue. We are now working to develop therapies against AQP5-expressing cells that could offer patients a better chance of lasting remission.”

The research team is currently developing AQP5-specific antibodies and evaluating drug candidates, with plans for preclinical studies. Any potential therapy will require clinical trials before becoming available to patients, a process that typically spans several years.

Delta Electronics Singapore has signed a Memorandum of Understanding (MOU) with the College of Design and Engineering at the National University of Singapore (NUS) to develop advanced technologies for sustainable data centres. This three-year partnership aims to leverage the Sustainable Tropical Data Centre Testbed (STDCT) to focus on smart energy systems, advanced thermal management, and modular infrastructure suitable for tropical environments.

The collaboration is set to explore integrating Delta’s autonomous inspection robots to enhance safety, real-time monitoring, and predictive maintenance in data centres. PS Tang, General Manager of Delta Electronics Singapore, highlighted the importance of this initiative, stating, “Data centres have become the backbone of our digital future, evolving into AI factories that drive innovation and connectivity. Yet they also represent one of the most energy-intensive infrastructures.”

Professor Silvija Gradecak, Vice Dean of Research and Technology at NUS, expressed enthusiasm for the partnership, noting it provides an opportunity for researchers and students to translate academic discoveries into impactful industrial applications. Professor Lee Poh Seng, Head of Mechanical Engineering at NUS, added that the collaboration aims to create scalable solutions contributing to Singapore’s sustainability goals.

This initiative aligns with Singapore’s Green Plan 2030 and Smart Nation goals, aiming to develop resilient and sustainable digital infrastructure. As the partnership progresses, it is expected to set new standards for eco-friendly data centre technologies, potentially influencing global practices in sustainable digital infrastructure development.

The recent Government Land Sales (GLS) tender for a mixed-residential and commercial site at Hougang Avenue 10/Hougang Central has closed with a top bid of S$1.5b. This bid, submitted by an undisclosed developer, is 2.1% higher than the second-highest bid of S$1.47b. The site, strategically located above Hougang MRT station on the North-East Line, is poised to become a significant draw for homebuyers, particularly HDB upgraders from nearby estates.

The development’s appeal is bolstered by its integration with a future bus interchange and the upcoming Cross Island Line, enhancing connectivity to Singapore’s city centre and other regions. Leonard Tay, Head of Research at Knight Frank Singapore, noted that such integrated developments typically attract interest due to their convenience and accessibility. “The mixed-use nature of the site allows for the creation of a suburban neighbourhood, that would become even more of a human activity magnet for Hougang,” he stated.

The project will feature a substantial retail component, potentially exceeding 400,000 square feet in gross floor area, surpassing the nearby Hougang Mall. This retail space is expected to enhance the area’s liveability by offering curated food and beverage options, daily necessities, and community-oriented services.

With the top bid reflecting a land rate of S$1,179 per square foot per plot ratio, the potential selling price for residential units could start from S$2,500 per square foot, with average prices possibly exceeding S$2,600 per square foot. The development’s comprehensive amenities and strategic location are anticipated to attract buyers from across Singapore, further cementing Hougang’s status as a vibrant suburban hub.

The National Museum of Singapore (NMS) is marking the nation’s 60th anniversary of independence with two new exhibits that explore Singapore’s journey from a settlement to a global city. These experiences, titled “Once Upon a Tide: Singapore’s Journey from Settlement to Global City” and “Singapore Odyssea: A Journey Through Time,” aim to highlight the country’s transformation and significant milestones over the past 700 years.

“Once Upon a Tide” offers visitors an immersive experience, tracing Singapore’s evolution from its early days as a settlement to its current status as a bustling metropolis. Meanwhile, “Singapore Odyssea” provides a chronological journey through the nation’s history, showcasing key events and developments that have shaped its identity.

These exhibits are part of the museum’s efforts to engage the public with Singapore’s rich history and cultural heritage. By presenting these stories in an engaging and interactive manner, the NMS hopes to foster a deeper understanding and appreciation of the nation’s past and present.

The museum’s initiative underscores the importance of preserving and sharing Singapore’s history, especially as the country continues to evolve. As the NMS celebrates this significant milestone, it invites both locals and tourists to explore these new experiences and reflect on the nation’s remarkable journey.