Industry News

Singapore’s non-oil domestic exports experienced a 3.5% decline in May 2025 compared to the same month last year, according to the latest figures released by the Department of Statistics.

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Aslan Energy Capital, a Singapore-based clean energy infrastructure developer, has signed a Heads of Agreement with Jakarta Industrial Estate Pulogadung (JIEP) to establish the Aslan Jakarta Data Centre (AJDC) in East Jakarta. This state-of-the-art 40-megawatt hyperscale colocation facility will be powered entirely by certified renewable energy and is set to be operational by Q4 2027.

Strategically located within the JIEP industrial zone, the AJDC will occupy a 40,000 m² site and accommodate up to 7,000 server racks. The facility will incorporate a 120 MWh Battery Energy Storage System, ensuring maximum uptime and operational resilience. The data centre will draw its primary power from renewable sources through the JIEP collaboration, highlighting a commitment to sustainable energy and climate-aligned growth.

Dr Muthu Chezhian, CEO of Aslan Energy Capital, stated, “This partnership reflects our shared vision to power the digital future with clean, reliable, and scalable infrastructure that respects environmental limits whilst enabling economic transformation.”

The AJDC will feature a two-storey vertical structure using modular and prefabricated components for rapid deployment. With 40% of the land dedicated to built infrastructure and 60% preserved as a natural corridor, the centre is designed to be environmentally friendly. It will also utilise hybrid air-cooled heat exchangers, significantly reducing water usage.

Satrio Witjaksono, President Director of JIEP, commented, “We are proud to collaborate with Aslan Energy Capital to introduce a new model for sustainable data infrastructure within Indonesia’s most strategic industrial estate.”

This project aligns with Indonesia’s national roadmap for sustainability, digitalisation, and green economy leadership, setting new environmental standards for data infrastructure.
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Singapore’s export growth is predicted to decelerate in the second half of 2025, following a 25% year-on-year surge in April, according to the Institute of Chartered Accountants in England and Wales (ICAEW). The slowdown comes as the initial boost from front-loading exports to the US wanes. Despite having the lowest US tariffs among ASEAN economies at 10%, Singapore remains highly susceptible to reduced US demand, with over 6% of its GDP tied to exports to the US.

Exports are crucial to Singapore, comprising 124% of its GDP. The anticipated global export downturn is already impacting the local economy, as evidenced by declining employment growth in export-reliant sectors like professional services, manufacturing, and information and communications in Q1.

However, Singapore’s fiscal and monetary strategies, including CDC vouchers and LifeSG credits from Budget 2025, are expected to bolster domestic consumption and business support. Additionally, favourable inflation trends, with both headline and core inflation projected to average below 1% in 2025, could enhance real incomes. This scenario may allow the Monetary Authority of Singapore to ease the Singapore dollar’s exchange rate slope further.

Despite these challenges, the ICAEW report suggests that recession risks are low, buoyed by the recent surge in goods exports and strategic shipment rerouting to the US. Singapore’s GDP growth is forecasted to slow to 1.8% in 2025, down from 4.4% in 2024. The report also highlights regional economic insights, noting Malaysia’s proactive monetary policy and China’s tariff-related uncertainties.
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Digital travel platform Agoda has unveiled a curated list of Asia’s most rejuvenating wellness destinations, catering to travellers seeking holistic health-centred experiences. As wellness travel gains popularity, these destinations offer a blend of relaxation and health benefits, from thermal baths to yoga retreats.

Kovalam in India, known for its Ayurvedic resorts, offers personalised treatments and yoga sessions. Gangwondo in South Korea, recently recognised as an Outstanding Wellness Tourism Site, provides forest bathing and traditional Korean spa rituals. Japan’s Beppu, the Hot Spring Capital, boasts over 2,000 thermal baths for a unique wellness retreat.

Chiang Rai in Thailand offers meditation retreats amidst serene mountain landscapes, whilst Coron in the Philippines combines therapeutic hot springs with spa treatments and outdoor activities. Da Lat in Vietnam, with its cool climate, provides organic meals and spa treatments inspired by Vietnamese traditions. Jiaoxi in Taiwan and Ipoh in Malaysia are also highlighted for their natural hot springs and wellness amenities.

Andrew Smith, Senior Vice President at Agoda, stated, “Wellness travel is all about finding balance, and Asia offers some of the most unique and rejuvenating experiences in the world.” Agoda’s platform, with over 5 million holiday properties and 300,000 activities, aids travellers in planning their wellness escapes. For more inspiration, visit Agoda’s wellness travel page or the Agoda mobile app.
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Hasten Biopharmaceutical Co. Ltd. has successfully completed Market Authorisation Transfers (MAT) for 11 pharmaceutical products across key Asia-Pacific markets, including Malaysia, Singapore, and Hong Kong.

This strategic move, executed by Hasten Biopharmaceutics Asia Co. Ltd. in the first half of 2025, aims to strengthen Hasten’s regional expansion and commitment to providing high-quality healthcare solutions.

The transferred products, which are well-established in treating chronic diseases such as cardiovascular conditions and diabetes, include Actos, Actosmet, Blopress, and Nesina, among others. Hasten plans to leverage its expertise in regulatory filing, manufacturing transfer, and marketing strategies to support its global biopharmaceutical partners in achieving their Asia-Pacific goals.

Honggang Feng, Chairman and CEO of Hasten, highlighted the significance of this achievement, stating, “The successful MAT transfers of multiple chronic disease products have significantly expanded Hasten’s portfolio in the Asia-Pacific region. This marks a key milestone in our globalisation journey and reinforces our commitments to delivering high-quality medicines.”

Peggy Fung, Vice President and Head of Asia-Pacific Commercial at Hasten, added, “Achieving MAT transfers across multiple markets in such a short time demonstrates Hasten’s strong alignment with international standards in areas such as regulatory supply chain, quality control, and commercialisation management.”

Hasten, established in 2020, continues to focus on high-demand therapeutics and aims to expand its product pipeline across Asia-Pacific. The company is committed to creating a healthcare ecosystem that benefits patients worldwide, supported by a dedicated regional team and strategic partnerships.
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Chongqing Week in Singapore, held from 11 to 13 June at Ngee Ann City on Orchard Road, marked the 35th anniversary of diplomatic ties between China and Singapore. The event highlighted the cultural richness of Chongqing through intangible cultural heritage markets and artistic performances, celebrating the 10th anniversary of the China-Singapore Chongqing Strategic Interconnection Demonstration Project.

The festivities began with an Erhu solo by national first-class performer Liu Guangyu, followed by the Miao ethnic dance, “Miao Village Waiting for You,” showcasing the vibrant cultural traditions of the BaYu region. A guqin solo, “Feigned Drunkenness,” further enriched the event, offering a melodious journey through Chongqing’s thousand-year cultural heritage.

The BaYu Intangible Cultural Heritage Creative Market was a focal point, featuring exhibitions such as “Han Style Legacy” and “Mountain City Craftsmanship.” The market displayed 468 items across 185 subcategories, including creative products, accessories, and clothing, blending Chongqing’s historical essence with modern cultural innovation.

Visitors, like Marian from Nanyang Technological University, were captivated by the interactive experiences, such as creating Rongchang pottery. “The feeling of touching the culture with my own hands is truly special,” she remarked, expressing a newfound yearning for Chongqing.

The event successfully integrated cultural tourism with modern life, breathing new vitality into ancient craftsmanship and enhancing the cultural exchange between China and Singapore.
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The Singapore Armed Forces Volunteer Corps (SAFVC) celebrated its 10th anniversary with a commemorative parade at Maju Camp today. The event saw 44 SAFVC Volunteers (SVs) receiving their formation patches, marking the completion of their two-week Basic Training course. Additionally, 65 SVs were promoted in recognition of their dedication to supporting SAF operations and training during their deployments.

The parade also featured the unveiling of the SAFVC creed and the symbolic handover of the SAFVC flag from a senior SV to a member of the graduating cohort. This gesture represents the transfer of the SAFVC’s mission and values to the next generation of volunteers. The newly graduated and promoted SVs are expected to undertake more challenging deployment roles as they continue to enhance their skills and knowledge.

Minister of State for Defence Desmond Choo, who was the Guest of Honour, highlighted the significant contributions of the SVs over the past decade. “Over the last 10 years, 1,500 people have come through the ranks, and we are very happy to see how they have contributed to building up a strong SAF,” he stated. Choo also expressed gratitude to the families, partners, and employers who support the volunteers.

Colonel Soliano Paulinhno Enrique Tan, Commander of SAFVC, addressed the volunteers, acknowledging their role in strengthening Singapore’s national defence and spirit. He remarked, “Whether you are just beginning your journey, actively serving, or have already completed your service, you are part of a legacy that inspires others to follow.”

As the SAFVC looks to the future, the commitment of its volunteers remains crucial in maintaining Singapore’s peace and security amidst an increasingly complex geopolitical landscape.
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Anytime Fitness Asia has launched its largest-ever regional brand campaign, “Train For Your Life,” spanning eight markets including Singapore, Malaysia, and the Philippines. This initiative follows a consumer study involving nearly 9,000 participants, which revealed a shift in fitness priorities towards better sleep and mental wellbeing, with 61% and 49% of respondents respectively prioritising these over traditional goals like weight management. Despite 60% recognising exercise as crucial, only 14% use commercial gyms, opting instead for daily activities and home workouts.

The campaign aims to redefine Anytime Fitness as a lifelong partner in health, not just a gym. It introduces the Smart Coaching Ecosystem, an app-powered experience integrating training, nutrition, and recovery. Johannes Raadsma, President and Co-Founder of Inspire Brands Asia (IBA), stated, “Our mission has always been to support our members not just in their workouts but in living a healthier, more confident life.”

With nearly 500 clubs in Southeast Asia and 5,600 globally, Anytime Fitness continues to lead with its community focus and innovative approach. IBA Group CEO Luke Guanlao emphasised, “We don’t push perfection—we support progress.” The campaign underscores Anytime Fitness’s commitment to inclusivity, offering 24-hour access and global reciprocity from day one.

As the largest fitness network in the region, Anytime Fitness is poised to further its impact, supporting members through every life stage with a holistic approach to health and wellbeing.
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Startup Genome has released its Global Startup Ecosystem Report 2025, offering a comprehensive analysis of the global startup landscape. The report draws on data from 5 million startups across more than 350 ecosystems, providing insights into the trends and challenges faced by startups worldwide. This extensive research is based on over a decade of independent analysis and policy advice given to more than 185 clients in 65 countries.

The report is significant as it highlights the evolving dynamics of startup ecosystems globally, offering valuable insights for policymakers, investors, and entrepreneurs. JF Gauthier, CEO of Startup Genome, emphasised the importance of such reports in accelerating the success of startup ecosystems through informed decision-making. “Our research aims to provide actionable insights that can help drive growth and innovation in startup communities around the world,” he stated.

Key findings from the report include the identification of emerging trends and the impact of various factors on startup success. The report also serves as a resource for governments and public-private partnerships aiming to foster a thriving startup environment.

The Global Startup Ecosystem Report 2025 is available for download on Startup Genome’s website, providing stakeholders with access to detailed data and analysis. As the startup landscape continues to evolve, such reports are crucial in guiding strategic decisions and fostering innovation.
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Changi Airport Group (CAG) and Haikou Meilan International Airport have signed a Memorandum of Understanding (MOU) to bolster collaboration in airport management, route and cargo development, staff training, and technology innovation. The two-year agreement, signed on 16 June 2025, seeks to drive mutual growth and improve regional connectivity.

The partnership will see both airports sharing expertise in terminal and airside management, facilitated by CAG’s subsidiary, Changi Airports International. CAG’s CEO stated, “We are delighted to formalise our partnership with Meilan Airport through this MOU. The collaboration reflects our shared vision for driving operational excellence and innovations in aviation.”

Meilan Airport, a key domestic hub in China, serves 138 cities with 227 flight routes and has an annual capacity of 35 million passengers. The MOU will also focus on developing new air routes, encouraging airlines to expand connections between Singapore, Meilan Airport, and other Hainan Province airports. This includes advocating for the use of fifth and seventh freedom rights to enhance international connectivity.

In cargo development, the partnership aims to position the Hainan Free Trade Port as a global logistics hub by advancing digitalisation and improving operational efficiency. The cooperation will also support the Belt and Road Initiative by strengthening air links with participating countries.

This agreement marks a significant step in enhancing the aviation landscape in the Asia-Pacific region, promising increased connectivity and operational advancements.
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