Industry News

The imoo Watch Phone X10, a flagship product from the global leader in children’s smart devices, has been launched in Singapore. Designed to provide peace of mind for parents, this innovative watch phone combines real-time location tracking, video calling, and health monitoring, all whilst being water-resistant up to 20 metres. The launch comes as Singapore’s government initiatives encourage healthier screen habits among children.

The imoo Watch Phone X10 stands out with its Flip and Detach camera, allowing children to capture their surroundings creatively. It features a 5MP front camera and an 8MP rear camera, enabling unique photography angles. The watch also supports the Bump and Add Friends feature, which facilitates safe social interactions by allowing children to add friends with a simple bump of their watches, pending parental approval.

Parents can track their child’s location down to floor level using the imoo app, thanks to the Qualcomm 4100 chipset and global coverage. The watch’s water resistance ensures it remains functional during swimming lessons or rainy days, making it a reliable companion for children.

The imoo Watch Phone X10 also promotes physical activity with professional sport data tracking, including heart rate monitoring and calorie burn, encouraging children to maintain healthy habits. With over 150 quality checks and compliance with international standards, the device prioritises durability and data privacy.

Available from 6 June 2025, the imoo Watch Phone X10 aims to transform children’s lifestyles through technology, offering a secure and engaging experience for young users.
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The Singapore Exchange (SGX) has reported that whilst the Straits Times Index (STI) has achieved a 6.5% total return for the year up to 6 June 2025, a broader set of 135 stocks with market capitalisations exceeding S$250m have outperformed, averaging 7.9% total returns. These stocks span all 12 sectors and include 40 stocks with an average daily turnover (ADT) of more than S$1m, with 13 from the S-REIT sector.

Among the non-STI stocks with market capitalisations above S$3b, SIA Engineering and Singapore Land Group have shown notable performance. SIA Engineering reported a 44% increase in net profit for FY24/25 and signed S$1.3b in service agreements, contributing to a 24% total return and an ADT rise to S$1.5m. Singapore Land Group achieved a 28% total return, with its ADT increasing by 45% from the previous year, driven by strong performance in investment properties and hotel operations.

Additionally, Singapore lists nearly 40 stocks with market capitalisations between S$1b and S$3b, with Sheng Siong Group leading in size. Sheng Siong reported a 7.1% revenue increase in Q1 FY25, boosting its total return to 15% for the year. Half of these stocks have averaged over S$1m in ADT, with Sheng Siong among the top five most traded.

The SGX’s update underscores the diverse opportunities beyond the STI, highlighting significant trading activity and returns among smaller-cap stocks.

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A recent survey by the Million Dollar Round Table (MDRT) has revealed that a significant 81% of Singaporeans are now utilising artificial intelligence (AI) tools to manage their personal finances. The survey highlights a growing trend towards digital financial tools, with applications such as budgeting, robo-advisors, and personalised financial advice being particularly popular among Gen Z and millennials.

The survey, conducted by Opinium, found that 72% of Singaporeans support financial advisers using AI, and 67% trust those who do. However, there is a strong demand for transparency, with 88% of respondents wanting to be informed when AI is used in financial services. Additionally, 84% of Singaporeans believe that AI in financial advising should be regulated, underscoring the importance of human oversight.

Despite the increasing adoption of AI, Singaporeans still value human expertise for core advisory decisions. AI is seen as a tool to support functions like communication and automation rather than replacing professional judgement. Gregory Fok, a 19-year MDRT member, noted, “The government’s efforts to strengthen AI capabilities have boosted public confidence in AI use within the financial sector.”

Interestingly, the survey also found that those currently working with financial advisers are more likely to use AI (92%) compared to those who have never engaged an adviser (66%). This suggests a preference for a hybrid approach that combines human expertise with digital tools.

As AI continues to integrate into financial services, the call for ethical and transparent use remains strong, reflecting the need for a balanced approach that combines technology with human insight.
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Singapore’s retail sector experienced a mixed start to 2025, with initial gains in January giving way to declines in the following months, according to Savills Singapore’s Q1 2025 Retail Briefing. The early boost in sales, attributed to the Chinese New Year and government consumption vouchers, was short-lived as non-discretionary spending, including cosmetics and apparel, saw significant drops in the quarter.

The food and beverage (F&B) sector mirrored this trend, with restaurants, fast-food outlets, and cafes reporting lower revenues. Retail vacancy rates increased from 6.2% in the previous quarter to 6.8% in Q1, highlighting the ongoing challenges faced by the industry.

Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, noted, “Whilst established brands face the challenges of higher costs, new-to-market brands remain optimistic.” This optimism is reflected in the interest of new brands looking to establish a presence in prime shopping areas, potentially driving up rents by 1% to 2% in 2025.

Despite the challenges, the average monthly rent in key areas like Orchard and Suburban remained stable at $17.00 (S$23.20) and $10.80 (S$14.70) per square foot, respectively. However, the strong Singapore dollar and the rise of e-commerce continue to divert consumer spending away from physical stores.

As the retail landscape evolves, the sector must navigate the dual pressures of increasing operational costs and shifting consumer preferences towards online shopping. The outlook remains cautious, with potential rent increases and the continued growth of e-commerce shaping the future of Singapore’s retail industry.
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Singapore-headquartered Rex International Holding Limited has revealed ambitious growth plans for its subsidiary, Lime Petroleum Holding AS, focusing on assets in Norway, Benin, and Germany. Lime Petroleum, which operates through its subsidiaries Akrake Petroleum Benin SA, Lime Petroleum AS, and Lime Resources Germany GmbH, is set to enhance its production capabilities and streamline operations across these regions.

In Benin, Akrake Petroleum is preparing to commence drilling in July 2025 at the Sèmè Field, with production anticipated to start in the fourth quarter of 2025. The project aims to produce approximately 16,000 barrels of oil per day, utilising a Mobile Offshore Production Unit and a Floating Storage & Offloading unit.

Norway’s Brage Field, where Lime Petroleum AS holds a 33.8434% interest, continues to outperform expectations. Recent discoveries and ongoing tie-back operations are set to boost production, with combined output from the Yme and Brage Fields expected to reach between 10,000 and 11,000 barrels of oil equivalent per day in 2025.

In Germany, Lime Resources Germany GmbH is focusing on the Erfelden area, with plans to increase production at the Schwarzbach Field. The company aims to drill two new wells in late 2025, potentially adding 500 barrels per day to its output by January 2026.

Lime’s CEO, Lars B. Hübert, highlighted the company’s strategic use of expertise across geographies, stating, “Lime and its subsidiaries are poised for an exciting autumn, with several high-impact operations taking place from the second half of 2025.”

These developments underscore Lime Petroleum’s commitment to leveraging its technological and operational expertise to enhance production and shareholder value across its global assets.
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Oiltek International Limited, a leading provider of integrated process technology and renewable energy solutions, has successfully transitioned from the Catalist Board to the Mainboard of the Singapore Exchange (SGX). This move, approved by shareholders on 25 April 2025, marks a significant milestone for the company, enhancing its visibility and access to capital.

The company’s Executive Director and CEO, Henry Yong Khai Weng, expressed optimism about the transfer, stating, “With the transfer to the SGX Mainboard, we will gain greater visibility, liquidity and access to capital, which will help propel our next phase of exponential growth.” Oiltek’s share price closed at S$0.605, bringing its market capitalisation to S$259.55 million.

Oiltek’s journey began with its initial public offering on the Catalist Board in March 2022 at S$0.23 per share. The company’s share price has since increased nearly sixfold, reaching an all-time high of S$1.45 in May 2025. This growth is attributed to its robust financial performance and strong order book.

In addition to the listing transfer, Oiltek completed a two-for-one bonus share issue, increasing its total shares to 429 million. SAC Capital, Oiltek’s Catalist sponsor, highlighted the significance of the transfer, noting it as a testament to the company’s strong fundamentals and active investor engagement.

Oiltek International, with over 44 years of experience, continues to expand its global footprint, providing innovative solutions across the vegetable oil industry. The company operates in three key areas: Edible & Non-Edible Oil Refinery, Renewable Energy, and Product Sales and Trading.
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Grand Venture Technology Ltd (GVTL) is poised for significant growth, according to a recent report by DBS Vickers Securities. The company experienced a rise in first-quarter sales, driven by strong demand for High Bandwidth Memory (HBM) testers and front-end wins. However, earnings were impacted by foreign exchange headwinds.

The report highlights that artificial intelligence trends, along with resilient non-semiconductor segments and limited direct tariff exposure, are expected to bolster GVTL’s performance in the second half of the year. Despite the challenges faced in the first quarter, the company remains optimistic about its future prospects.

DBS Vickers Securities has adjusted its full-year 2025 earnings forecast for GVTL, reducing it by 14% to account for forex charges and lower margin assumptions. Nevertheless, the firm maintains a “BUY” recommendation for GVTL, with an unchanged target price of $0.82 (S$1.12).

The report underscores the importance of GVTL’s strategic positioning in the market, particularly in light of emerging AI trends and its ability to navigate external economic pressures. As the company continues to adapt and innovate, it is well-positioned to capitalise on growth opportunities in the coming months.
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Cushman & Wakefield has released its inaugural report, ‘Waypoint 2025’, highlighting significant changes in the Asia Pacific logistics and industrial real estate sector. The report, based on insights from over 120 markets globally, indicates a shift in power towards landlords due to constrained supply and rising costs, impacting occupiers, investors, and developers.

The report forecasts a decline in tenant-favourable markets globally from 52% to 28% by 2028, whilst landlord-favourable markets are expected to rise from 24% to 35%. In Asia Pacific, the market is currently balanced, with 24% favouring landlords and 33% favouring tenants. However, this balance is expected to shift, with tenant-friendly markets growing to 38% and landlord-favourable markets increasing to 33%.

Dominic Brown, Head of International Research at Cushman & Wakefield, noted, “Asia Pacific markets are diverging, with Australia and Southeast Asia seeing a shift towards landlord-favourable conditions.” Despite this, 62% of Asia Pacific markets anticipate rental growth over the next three years, driven by strong occupier demand and strategic manufacturing shifts.

The report also identifies general manufacturing, retail distribution, and e-commerce as key drivers of demand in the region. Dennis Yeo, Head of Investor Services and Logistics & Industrial, APAC, emphasised the need for market-specific strategies due to rising vacancies in some subregions.

Overall, ‘Waypoint 2025’ underscores the importance of resilience and diversity in supply chains to navigate market changes effectively. The full report is available for further insights into regional market conditions and projections.
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HSBC Global Private Banking has released its investment outlook for the third quarter of 2025, advising investors to focus on building resilient portfolios through global multi-asset diversification and active management. The bank maintains a mild overweight position in global equities, particularly in the US, China, India, Singapore, and the UAE, citing structural growth opportunities in AI adoption as key drivers.

The bank’s strategy includes an overweight position in UK Gilts and European investment grade bonds, whilst maintaining a neutral stance on US Treasuries and corporate bonds. To mitigate risks from trade tensions and US debt concerns, HSBC suggests investing in gold, hedge funds, and quality bonds, alongside strategic allocations to private equity and infrastructure.

On the currency front, HSBC holds a neutral view on the US dollar, focusing on hedging volatility with hedge funds and volatility strategies. Cheuk Wan Fan, Chief Investment Officer for Asia at HSBC, noted, “Policy uncertainty has challenged the ‘US exceptionalism’ narrative and added pressure on the US dollar. We expect resilient earnings and policy changes to support US equity market recovery.”

HSBC’s investment priorities for Q3 2025 include expanding equity exposure, capturing AI opportunities, mitigating risks with alternative strategies, and tapping into Asia’s domestic growth. Patrick Ho, Chief Investment Officer for North Asia, highlighted China’s AI advancements and policy stimulus as key factors for growth, stating, “China’s continued AI breakthrough should pave the way for its valuation gap to narrow.”

The bank’s thematic focus, “Asia in the New World Order,” underscores opportunities in China’s AI sector, Asian shareholder returns, enduring industry leaders, and high-quality Asian credit. HSBC anticipates that Asia’s markets will attract international investors seeking diversification, bolstering regional equity and credit markets.
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KDZ Pop Con 2025, the ultimate event for kids and families, is set to take over the Sands Expo & Convention Centre in Singapore on 21-22 June. The event promises a weekend filled with brand activations, workshops, and live entertainment, supported by the Singapore Tourism Board and featuring Mediacorp as the official media partner.

The event will celebrate the 10-year anniversary of Pinkfong’s Baby Shark, offering fans a chance to snap photos at a special anniversary zone, participate in a lucky draw, and enjoy a range of themed activities. Disney and Pixar’s new film, Elio, will also be featured, with interactive zones and activities inspired by the movie, including a Trick Eye photo opportunity and Galaxy Slime Making.

Fans of My Little Pony and Peppa Pig can look forward to magical moments, including a celebration of Mummy Pig’s pregnancy announcement and the introduction of Peppa Pig’s newest family member, Evie. Hasbro’s beloved characters will bring joy with games, photo opportunities, and exclusive merchandise.

For those seeking adventure, Kiztopia Friends will present Jumptopia Lite, featuring inflatables like Honey’s Meadow Farm and Tiger’s Sports Meet. NTUC First Campus will engage young minds with educational activities, whilst POPULAR offers a selection of children’s books and cultural items.

Viper Kids will debut in Singapore with the Viper Challenge, and Origame will host a Shop Until You Drop competition, with appearances by Mr Kiasu. Tickets for KDZ Pop Con 2025 are available now, promising a celebration of childhood imagination and family bonding.
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