Industry News

Google Cloud, in collaboration with Digital Industry Singapore (DISG), has unveiled the AI Cloud Takeoff (AI CTO) programme, designed to foster AI transformation in 300 Singapore-based companies over the next 12 months. This initiative, part of the Singapore Government’s Enterprise Compute Initiative, seeks to establish AI Centres of Excellence (AI CoEs) to enhance competitiveness and unlock new revenue opportunities.

Building on a successful pilot with 30 companies in November 2024, AI CTO provides a structured framework for companies to centralise AI expertise and resources. Participants will receive up to $365,000 (SG$500,000) in financial incentives to develop AI-driven solutions. The programme includes a two-week AI capacity building bootcamp, technical consultancy services, and Google Cloud credits for solution development.

Philbert Gomez, Senior Vice President of Digital Industry Singapore, highlighted the programme’s potential to drive innovation and productivity across industries. “Our successful pilot with Google Cloud laid a strong foundation, enabling Singapore-based companies to harness tailored AI solutions,” he stated.

The programme offers technical implementation services to integrate AI solutions with existing systems, ensuring data privacy and security. Companies will work with DISG-appointed, Google Cloud-certified partners, including Accenture and Deloitte, to establish their AI CoEs.

Applications for the AI CTO programme are now open, marking a significant step towards AI-driven transformation in Singapore’s business landscape.
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The Government Land Sale (GLS) programme for the second half of 2025 (2H2025) has been announced, featuring a notable shift in strategy with a 29% increase in residential supply on the Reserve List compared to the previous half. This adjustment comes amidst a backdrop of slower home sales and rising prices, as noted by Tricia Song, CBRE Head of Research for Singapore and Southeast Asia.

The overall private housing supply is set to rise to approximately 9,200 units, up from 8,505 units in the first half of 2025.

The Confirmed List will offer 4,725 private housing units, including 990 Executive Condominium (EC) units. Meanwhile, the Reserve List will provide an additional 4,475 units, up from 3,475 in the first half of the year. Notably, the Reserve List includes new sites at Cross Street and Telok Ayer, which can accommodate 500 long-stay Serviced Apartments (SA2) units. In total, 1,020 SA2 units could be developed if demand arises.

The decision to bolster the Reserve List is seen as a strategic response to the current economic climate. “Developers have been measured in their bids, signalling a cautious outlook,” Song commented. The full-year total for the Confirmed List will reach 7,785 private homes, providing ample opportunities for developers to secure future land banking.

Among the most attractive new sites on the Confirmed List are those near mature public housing estates and MRT stations, such as Bukit Timah, Kallang Avenue, and Dover Road. These locations offer diverse options to suit various budgets and needs, with proximity to key amenities enhancing their appeal.

The government will continue to monitor market conditions closely, adjusting the GLS programme as necessary to meet Singapore’s evolving housing, commercial, and hospitality needs.
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Star Voyager, the latest addition to the StarCruises fleet, has made its much-anticipated debut in Ho Chi Minh City, marking a significant milestone as the first cruise ship to offer Vietnamese round-trip cruises to Singapore. The ship, which arrived on 13 June 2025, will provide a 5-day, 4-night cruise experience during the Vietnamese school holidays, with additional departures on 17 and 21 June.

The Star Voyager’s arrival was celebrated with a grand inauguration ceremony at Phu My Port, attended by key figures including Michael Goh, President of StarDream Cruises, and Do Phuoc Trung, Deputy Director of the Department of Culture, Sports and Tourism of Ba Ria Vung Tau province. Goh expressed excitement about the new venture, stating, “This homeport and exclusive sailings are a key step in our vision to develop Vietnam as a major cruise hub in Southeast Asia.”

The cruise promises an unforgettable journey with a recently completed $50 million refurbishment, offering a blend of comfort and modern amenities. Passengers will enjoy a variety of onboard activities, including waterslides, a rock-climbing wall, and vibrant music festivals. The cruise also features a stop in Singapore, allowing guests to explore iconic destinations such as Gardens by the Bay and Orchard Road.

With limited sailings available, the Star Voyager aims to boost Vietnam’s cruise tourism sector, offering a unique holiday experience for Vietnamese travellers. Bookings can be made through local travel partners or the StarDream Cruises website.
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The Government Land Sales (GLS) Programme for the second half of 2025 continues to maintain a steady supply of private homes, according to Knight Frank Singapore.

Despite a slight decrease in the number of residential units in the Confirmed List from 5,030 in H1 2025 to 4,725 in H2 2025, the Reserve List has seen an increase from 3,475 to 4,475 units. This adjustment comes amidst a backdrop of anticipated declining interest rates, tight national employment, and strong household balance sheets, which are expected to support the private residential market.

The GLS Programme’s Confirmed List includes ten new sites, featuring a mix of central and suburban locations with a significant inclusion of executive condominiums (ECs). Notably, the Bukit Timah Road site is expected to yield around 340 non-landed homes, drawing interest due to its proximity to Newton MRT station and the Orchard Road shopping belt. Similarly, the Bedok Rise site, adjacent to Tanah Merah MRT station, is anticipated to yield approximately 380 non-landed private homes.

Leonard Tay, Head of Research at Knight Frank Singapore, highlighted the strategic placement of these sites, stating, “The provision of ten new sites in the Confirmed List comprises a good mix of central and suburban locations, with a hearty infusion of executive condominiums plots.”

The Reserve List has introduced two new sites at Cross Street and Telok Ayer Street, with the latter being a mixed-use site likely to attract developers due to its central location. The ongoing gentrification of areas like Kallang and Lentor Central further underscores the government’s commitment to transforming these regions into vibrant residential hubs.

As the year progresses, the market will closely watch how these developments unfold, particularly in light of global political and economic uncertainties that may influence buyer sentiment.
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Maison Krug has announced the inaugural Krug Ambassade Regional Summit in Southeast Asia, set to take place in Singapore on 9 July. This event will bring together 11 esteemed Krug Ambassades from across the region to explore the creative potential of this year’s Single Ingredient: the carrot. The summit aims to craft refined culinary expressions that mirror the elegance and complexity of Krug Champagne.

The carrot, known for its diverse culinary applications, will be the focal point of this year’s tribute. Chefs will experiment with various preparations, including roasting, puréeing, caramelising, and juicing, to showcase the ingredient’s rich palette of flavours, textures, and aromas. Complementing this culinary exploration are two new Krug Éditions: the Krug Grande Cuvée 173ème Édition, blending 150 wines from 13 vintages, and the Krug Rosé 29ème Édition, composed of 29 wines from five vintages.

Participants include representatives from Singapore’s Krug Ambassades, such as Zén, JAAN by Kirk Westaway, IYASAKA by Hashida, Buona Terra, Art di Daniele Sperindio, Meta, and Shoukouwa. They will be joined by regional Ambassades from Malaysia’s Michelin-starred Au Jardin and Potager, and Thailand’s two-Michelin-starred Sühring.

From August to December, Singapore’s Krug Ambassades will offer exclusive by-the-glass pairings featuring the latest Krug Éditions, paired with carrot-inspired dishes. This limited-time experience invites guests to explore Krug through a fresh culinary perspective. Additionally, Moomba, Singapore’s sole Off-Trade Krug Ambassade, will feature a dedicated window display inspired by the carrot theme.
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Venture Corp, a prominent player in the electronics manufacturing sector, has retained its ‘buy’ rating with a revised target price of S$12.60, up from S$12.50. This adjustment reflects an 11% upside potential and a yield of approximately 7%. The company’s valuation continues to be appealing, even as trade uncertainties linger, according to the latest analysis by RHB.

The decision to maintain the ‘buy’ rating comes after a marginal 2% reduction in forecasted earnings for the financial years 2025 to 2027. The target price has been slightly increased as the price-to-earnings ratio is rolled over to a blended 15 times for the fiscal years 2025 and 2026, compared to the previous 15 times for 2025 alone. This adjustment is positioned at 0.5 standard deviations below the mean.

Analyst Alfie Yeo noted that the current valuation has already accounted for existing universal reciprocal tariff rates. Any potential reduction in these rates, particularly for countries like Malaysia, could act as catalysts for Venture Corp’s share price. “We deem any rate lowering for countries as share price catalysts,” Yeo stated.

The company’s robust valuation and yield make it a compelling investment, particularly in the context of ongoing trade challenges. Looking ahead, any favourable changes in tariff rates could further enhance its market position and investor appeal.
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Ripple recently concluded its 5th Apex 2025 summit, the largest annual XRP Ledger (XRPL) event, held in Singapore from 10 to 12 June. The gathering attracted over 750 global leaders, developers, and innovators, showcasing the latest advancements in the XRPL ecosystem. The event underscored the increasing institutional adoption of blockchain technology, driven by the tokenisation of real-world assets and the rise of stablecoins.

A joint report by BCG and Ripple projects the tokenised real-world asset market to reach $18.9 trillion by 2033. Meanwhile, Citi Institute estimates the stablecoin market could grow by up to 1,500%, reaching over $3 trillion by 2030. These projections highlight the significant potential for growth and transformation within the blockchain sector.

During the summit, Ripple made several key announcements demonstrating how XRPL is facilitating enterprise-grade blockchain use cases globally. Guggenheim Treasury Services has launched its Digital Commercial Paper (DCP) on the XRPL, a fixed income asset secured by US Treasuries and rated Prime-1 by Moody’s. This initiative aims to modernise the issuance and transaction of commercial paper.

Additionally, Ondo Finance introduced its tokenised US treasury fund, Ondo Short-Term US Government Treasuries (OUSG), on the XRPL. Qualified Purchasers can now seamlessly subscribe and redeem OUSG with RLUSD, Ripple’s enterprise-grade stablecoin. Furthermore, Ripple announced the launch of USDC, the world’s largest regulated stablecoin issued by Circle, on the XRPL. This addition is part of the growing momentum behind global stablecoins on the network.

These developments at Apex 2025 highlight the expanding utility of XRPL in facilitating remittances, decentralised finance (DeFi), and enterprise-grade payments, further enhancing the role of XRP as a native asset for liquidity.
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Datalec Precision Installations (DPI), a leader in data centre solutions, has announced the appointment of Edmund Quek as Technology Delivery Manager for the Asia-Pacific (APAC) region. Based in Singapore, Quek will spearhead DPI’s technology project delivery, focusing on customer-centric solutions and operational excellence. This strategic hire comes as DPI seeks to expand its presence in the APAC market, which is experiencing a surge in digital infrastructure demand.

Quek brings over 20 years of experience in ICT infrastructure and data centre project delivery, having successfully led more than 100 large-scale projects across APAC and the Middle East. His expertise in reducing project turnaround times by 25% and leading regional technical teams is expected to bolster DPI’s capabilities in delivering high-impact solutions.

Peter Cole, Executive Vice President of APAC at DPI, expressed enthusiasm about Quek’s appointment, stating, “With the surge in digital infrastructure demand across the region, coupled with his extensive local knowledge, we look forward to delivering innovative, high-impact solutions that reflect DPI’s commitment to excellence and client satisfaction under his leadership.”

In his new role, Quek will focus on streamlining project execution frameworks, enhancing client onboarding experiences, and supporting sales through technical bid input. DPI aims to compete at the highest standards globally, delivering unparalleled quality and aligning closely with clients’ evolving requirements. This appointment underscores DPI’s commitment to operational excellence and strategic growth in the APAC region.
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EtonHouse International Education Group has launched The EtonHouse City PreSchool, a pioneering early childhood education campus located at Collyer Quay in Singapore’s bustling downtown. This new preschool aims to transform urban landscapes into immersive learning environments, blending urban inspiration with world-class pedagogical practices to foster curiosity, creativity, and critical thinking in young learners.

The preschool, which caters to children aged 18 months to 6 years, offers a variety of flexible programmes, including half-day, three-day, and five-day full-day options, with extended hours from 7am to 7pm on weekdays. This flexibility is designed to accommodate the diverse schedules of modern families, allowing parents to stay connected to their child’s educational journey whilst managing professional commitments.

EtonHouse City PreSchool is designed to reconnect children with nature and their communities amidst the challenges of urbanisation and digital exposure. The school provides a nurturing environment where young learners can engage meaningfully and grow holistically through authentic experiences rooted in both nature and the urban environment. “We’ve drawn inspiration from the city’s rich architecture and history,” said Evelyn Tay, CEO of EtonHouse Singapore, highlighting the unique identity of the school shaped by its surroundings.

The preschool features innovative learning spaces such as the Learners Loft, Outdoor Adventure Park, ReAldo Lab, Atelier of Lights, and Living Lab, each designed to encourage critical thinking, collaboration, and creativity. These spaces aim to nurture confident and curious learners, preparing them to thrive in an ever-evolving world.

Families interested in exploring The EtonHouse City PreSchool can attend the Experience Day on 5 July 2025, offering a chance to tour the school and meet the educators.
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The Government has announced a slight reduction in the supply of dwelling units under its second half (2H) 2025 Government Land Sales (GLS) programme. Despite the reduction, the programme will still offer 10 sites with a total of 4,725 dwelling units under the Confirmed List, a figure significantly higher than the supply levels from 2015 to 2023. This sustained high level of supply is expected to keep the market well-stocked with both private residential and Executive Condominium (EC) units.

Among the top sites, Bedok Rise is notable for being the last land parcel with direct access to Tanah Merah MRT station. The new mall, Sceneca Square, will enhance convenience in the area. The Bukit Timah site, next to Newton MRT station, is part of a transitional office site returned to the Government, with no new supply since 2019.

The Dover Road site is strategically located near Singapore’s R&D hub, one-north, and the Singapore Science Park, addressing the housing shortage relative to the area’s employment. The Dunearn Road site, part of the new Turf City housing estate, is close to top schools and the Sixth Avenue MRT station, with a retail component boosting local amenities.

The Kallang Avenue site is the first GLS site for private residential living near Kallang MRT station, offering proximity to the city and Singapore Sports Hub. The Tanjong Rhu site, the first in this area since 1997, is near Katong Park MRT station and East Coast Park.

Additionally, the Woodlands Drive 17 EC site follows a nearby offering in the first half of 2025, potentially keeping EC prices affordable. Other notable sites include Dairy Farm and Lentor Central, addressing demand and stabilising prices in these popular precincts. The Miltonia Close EC site, the first since 2014, offers views of greenery and water, catering to upgrading demand from nearby HDB flats.
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