Industry News

Anytime Fitness Asia, the region’s largest 24-hour fitness network, has unveiled its most significant brand campaign to date, “Train For Your Life.” This initiative spans across Singapore, Malaysia, the Philippines, Indonesia, Hong Kong, China, Thailand, Vietnam, and Taiwan, aiming to redefine fitness motivations based on recent consumer insights.

A comprehensive study involving nearly 9,000 individuals across these markets revealed a shift in fitness priorities. The findings showed that 61% of respondents now prioritise better sleep, whilst 49% focus on mental wellbeing, surpassing traditional goals such as weight or strength management. Despite 60% recognising exercise as a crucial fitness strategy, only 14% utilise commercial gyms, with many opting for daily activities like chores and commuting.

“Train For Your Life” is more than a marketing endeavour; it embodies Anytime Fitness’s mission to be a lifelong partner in health. The campaign introduces the SmartCoachingEcosystem, 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 a focus on community, coaching, and innovation. IBA Group CEO, Luke Guanlao, emphasised, “We don’t push perfection—we support progress.”

As Anytime Fitness expands its footprint, the campaign underscores its commitment to providing holistic support, offering 24-hour access and global reciprocity, ensuring members receive personalised guidance wherever they are.
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OTS Holdings, a prominent player in the food manufacturing sector, has outlined its strategic goals for 2030, focusing on growth and expansion. The company, listed on the Singapore Exchange (SGX), has reported a 6.8% year-on-year revenue increase to S$16.8M in the first half of the financial year 2025. This growth is attributed to key revenue drivers and strategic initiatives.

The company has announced plans to enhance its capabilities and market reach with the upcoming establishment of a new facility in Johor. This development is expected to significantly impact the group’s cost structure and operational capabilities. The Johor facility is part of OTS Holdings’ broader strategy to strengthen its position in the food manufacturing industry and tap into new markets.

Looking ahead to 2030, OTS Holdings has set three primary strategic goals: expanding its product offerings, increasing its market presence, and enhancing operational efficiency. These objectives are designed to ensure sustainable growth and maintain the company’s competitive edge in the industry.

The company’s commitment to excellence in food manufacturing is reflected in its continuous efforts to innovate and adapt to changing market demands. As OTS Holdings progresses towards its 2030 goals, the industry will be watching closely to see how these strategic initiatives unfold and contribute to the company’s long-term success.
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Fire-fighting operations are ongoing for the Singapore-registered container vessel Wan Hai 503, which is currently off the coast of India. The Indian authorities and the vessel owner have deployed two additional fire-fighting vessels, expected to arrive this evening, to bolster the response efforts. Meanwhile, the 18 crew members who were rescued earlier have safely reached New Mangalore Port. Six of these crew members were injured, with three already discharged from a shore medical facility.

Search and rescue (SAR) operations are actively underway to locate four missing crew members, with aerial surveillance supporting these efforts. The Maritime and Port Authority of Singapore (MPA) is collaborating with the vessel’s classification society and Indian authorities to provide technical information crucial for stabilising the situation and managing the fire. This includes guidance on fire containment measures, assessing onboard fire conditions, and monitoring the vessel’s stability.

MPA is closely monitoring the situation in coordination with Indian authorities, focusing on assessing the vessel’s structural integrity and potential environmental impacts. Further updates will be provided as more information becomes available.
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Singapore-headquartered brokerage Straits Financial Services has announced an expansion of its partnership with Integral, a currency technology provider, to strengthen its operations in the precious metals market across Asia. This move comes as gold prices hit new highs and trading volumes surge, allowing the brokerage to optimise pricing and improve liquidity aggregation.

Straits Financial Services has extended its services to the SG1 data centre in Singapore, aiming to enhance execution quality and liquidity provision for its customers dealing in foreign exchange (FX) instruments and precious metals. This expansion is part of the company’s strategy to secure competitive pricing for its Asian clientele, facilitated by Integral’s API-first technology, which allows seamless integration with external systems.

The brokerage’s increased activity in the Asian precious metals market includes trading in gold, silver, platinum, and palladium. Integral’s pricing engine, which converts prices from ounces to grams or kilograms, is crucial for Straits Financial Services’ success in this sector. This feature improves pricing transparency and risk management by benchmarking prices against local currencies.

Susan Quek, Vice President and Head of Sales at Straits Financial Services, stated, “We have experienced first-hand the substantial impact Integral’s tech can have on precious metals and FX trading operations, offering optimised pricing, superior liquidity aggregation, and streamlined operational efficiencies.”

Integral’s CEO, Harpal Sandhu, added, “Our partnership with Straits Financial Services is a perfect example of this agility, allowing the firm to continue consolidating its position as a leading broker in the region.”

This partnership expansion underscores Straits Financial Services’ commitment to delivering high-quality service and positions the firm to thrive in the growing precious metals market.
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ClavystBio, a life sciences investor established by Temasek, and the Agency for Science, Technology and Research (A*STAR), Singapore’s leading public sector R&D agency, have signed a Memorandum of Understanding (MoU) to foster the growth of MedTech ventures in Singapore. This collaboration will leverage ClavystBio’s venture-building expertise and A*STAR’s scientific capabilities to support the creation, development, and commercialisation of medical technologies.

The partnership is set against the backdrop of Singapore’s burgeoning biomedical sector, which saw MedTech output reach S$20b in 2023. With Asia’s MedTech market projected to grow to $225b (S$304b) by 2030, the collaboration aims to position Singaporean innovations for global expansion. Over the next two years, ClavystBio and A*STAR will focus on co-creating new ventures, investing in A*STAR-affiliated companies, and fostering collaborations between A*STAR and ClavystBio’s portfolio companies.

Key areas of focus include fostering new ventures from research, advancing MedTech product development, and accelerating commercial readiness in diagnostics and digital health. MedTech Catapult and the Diagnostics Development Hub (DxD Hub), both hosted by A*STAR, will play pivotal roles in these efforts. MedTech Catapult will support medical device development, whilst DxD Hub will focus on diagnostics and digital health ventures.

Anselm Tan, Digital Health and MedTech Lead at ClavystBio, emphasised the partnership’s potential to cultivate a thriving MedTech ecosystem in Singapore. Irene Cheong, Assistant Chief Executive of Innovation and Enterprise at A*STAR, highlighted the MoU as a significant step in co-creating globally investible MedTech ventures. This collaboration aims to transform Singapore’s MedTech landscape by bridging innovation with commercial success.
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Singapore Airlines (SIA) has partnered with PALO IT to implement a pioneering AI software engineering methodology, achieving a 44% faster project delivery compared to traditional methods. This collaboration focused on PALO IT’s Gen-e2™ methodology, which transforms AI from a mere coding assistant to an intelligent agent throughout all project phases.

The Proof of Concept (PoC) demonstrated the potential of an AI-first approach, with AI generating 95% of the code, documentation, and architecture diagrams. This resulted in significant productivity gains, enhanced code quality, and improved developer experience. GitHub Copilot played a crucial role, enabling SIA’s digital product squad to develop a website feature ready for user acceptance testing in just five weeks, compared to the forecasted nine weeks using traditional methods.

The success of this PoC has prompted plans to expand the use of this innovative approach across SIA’s wider IT teams. The methodology’s ease of adoption was highlighted by positive feedback from the development team, who reported improved software engineering practices.

Sharryn Napier, GitHub’s APAC VP, expressed enthusiasm about the partnership, stating, “We’re excited to deepen our partnership with PALO IT and enable more companies to unlock innovation at scale through AI-driven software development, just as we’ve seen with Singapore Airlines.”

This initiative marks a significant step in the two-year partnership between PALO IT and GitHub, aiming to harness AI’s full potential in software engineering. As SIA plans to scale this approach, the collaboration underscores the transformative impact of AI in digital product development.
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Changi Airport Group (CAG) has awarded a contract worth S$999m for the construction of intra-terminal tunnels at Terminal 5 (T5) to a joint venture between Penta-Ocean Construction Co., Ltd. and Koh Brothers Building & Civil Engineering Contractor (Pte.) Ltd. The project, following the recent groundbreaking of T5, is expected to take over four years to complete.

The intra-terminal tunnels will facilitate efficient passenger and baggage transfer across T5’s concourses and support the routing of common utilities. The tunnel system will include the Automated People Mover System, Baggage Handling System, and a Common Services Tunnel (CST) for utilities like electrical power and water services. Additionally, a ventilation building and provisions for future infrastructure are part of the project.

Ong Chee Chiau, CAG’s Managing Director for Changi East, stated, “The award of the T5’s intra-terminal tunnel works marks another important development in the construction of T5 and the wider Changi East project. These tunnels will enable the smooth and efficient movement of passengers, baggage and services.”

Penta-Ocean, known for its expertise in large-scale projects, and Koh Brothers, with a strong track record in infrastructure development, are key players in this venture. Osamu Hidaka of Penta-Ocean expressed honour in being awarded the project, emphasising collaboration and advanced technologies. Paul Shin of Koh Brothers highlighted the milestone in their commitment to Singapore’s transport infrastructure.

The T5 project is part of the broader Changi East development, which includes a third runway and cargo complexes, aiming to enhance Changi Airport’s capacity and operational capabilities by the mid-2030s.
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Singapore’s grocery retail landscape is undergoing significant changes as DFI Retail Group exits the market, intensifying competition among local players like NTUC FairPrice and Sheng Siong. This move is not due to structural issues but rather a strategic decision as the market becomes increasingly competitive. Sheng Siong, known for its cost discipline and strong local presence, is emerging as a leader with peer-leading margins.

DFI’s departure comes as new housing developments and the Community Development Council (CDC) voucher scheme continue to drive growth in the sector. Sheng Siong is capitalising on these opportunities, with upcoming Build-To-Order (BTO) estates expected to generate over $60m (£48m) in annual revenue, even with limited new supermarket tenders.

Macrovalue, another player in the market, is focusing on premium offerings and profitability, potentially gearing up for an initial public offering (IPO). Meanwhile, Sheng Siong’s strong competitive positioning and stable industry outlook have led to a raised target price of SGD2.30, reflecting its industry-leading operating margins.

The strategic shifts in Singapore’s grocery retail market underscore the importance of adaptability and strategic foresight. As competition heats up, Sheng Siong’s robust operational strategy and market adaptability position it well for continued success. The evolving landscape presents both challenges and opportunities for retailers aiming to maintain or enhance their market share.
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Koh Brothers Eco Engineering Limited, through its subsidiary Koh Brothers Building & Civil Engineering Contractor, has secured a $999m (S$999m) contract in partnership with Penta-Ocean Construction Co., Ltd. The contract, awarded by Changi Airport Group, involves constructing intra-terminal tunnels for the upcoming Terminal 5 at Changi Airport. This project, expected to span over four years, will enhance passenger and baggage transfer efficiency across the terminal’s concourses.

The intra-terminal tunnels will include a series of sub-tunnels housing key infrastructure such as the Automated People Mover System and Baggage Handling System. Additionally, a Common Services Tunnel will support utilities like electrical power and water services. The project also includes a ventilation building and provisions for future underground infrastructure.

Paul Shin, CEO of Koh Brothers Eco, expressed gratitude for the opportunity, stating, “We are honoured by the trust placed in KBCE and Penta Ocean for this mega project by airport operator Changi Airport Group.” He highlighted the contract as a milestone in their commitment to Singapore’s transport infrastructure.

This contract boosts Koh Brothers Eco’s order book to over $1b (S$1b), with visibility extending to 2029. The joint venture with Penta-Ocean underscores a strategic partnership aimed at leveraging synergies and enhancing collaboration. Terminal 5, which broke ground on 14 May 2025, is designed to handle approximately 50 million passengers annually in its first phase, addressing growing travel demands.
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SGX-listed Elite UK REIT Management Pte. Ltd. has successfully closed its private placement, raising approximately £4m. The placement, which concluded on 10 June 2025, was managed by CIMB Bank Berhad, Singapore Branch, Maybank Securities Pte. Ltd., and RHB Bank Berhad, Singapore office, as joint bookrunners and underwriters. The issue price was set at £0.295 per unit after a book-building process.

The private placement attracted significant interest, being oversubscribed with participation from long-only funds, multi-strategy funds, and high-quality private bank clients. A total of 13,560,000 units will be issued, with the issue price representing a 13% discount to the volume-weighted average price of £0.339 per unit on 9 June 2025.

The proceeds from this placement will support Elite UK REIT’s strategic initiatives. The units are expected to commence trading on the Singapore Exchange (SGX) on 19 June 2025, pending approval. Elite UK REIT’s CEO, Liaw Liang Huat Joshua, emphasised the strong market confidence reflected in the oversubscription.

This successful placement underscores the robust demand for investment opportunities within Elite UK REIT, highlighting investor confidence in its growth prospects. The funds raised will enable the trust to pursue further opportunities and enhance its portfolio.
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