Industry News

Aster and Aether Fuels have announced a partnership to establish Southeast Asia’s first next-generation, commercial-scale Sustainable Aviation Fuel (SAF) plant at Aster Pulau Bukom in Singapore. The facility, set to begin construction in 2026 and operations in 2028, will utilise Aether’s Aurora technology to convert industrial waste gas and biomethane into SAF, achieving more than a 70% reduction in greenhouse gas emissions compared to conventional jet fuel.

The project, named Project Beacon, is a significant step in advancing SAF production, addressing current feedstock constraints. Aster will provide renewable power and waste carbon feedstock, supporting the development of Aether’s scalable solution. Erwin Ciputra, CEO of Aster, highlighted the collaboration as a demonstration of how partnerships can introduce disruptive solutions on a commercial scale, aligning with Aster’s sustainability agenda.

Conor Madigan, CEO of Aether Fuels, praised Singapore’s innovation ecosystem and support from the Economic Development Board (EDB), noting the project’s meaningful connection to Aether’s origins at Xora Innovation. The facility aims to position Southeast Asia as a global hub for sustainable fuels.

Png Cheong Boon, Chairman of the EDB, emphasised the facility’s role in enhancing Singapore’s competitiveness in sustainable products and innovation. Project Beacon will utilise a variety of waste carbon feedstocks, overcoming limitations of previous SAF production methods and paving the way for future advancements in sustainable aviation fuel.

The recent Urban Redevelopment Authority (URA) tender for a residential site at Bukit Timah Road has concluded with a top bid of $1,820 per square foot per plot ratio (psf ppr), submitted by HH Investment Private Limited. This bid, which exceeded expectations, highlights a strong recovery in homebuying interest, driven by low interest rates and economic resilience.

The Bukit Timah Road site, which can accommodate 340 units, attracted eight bids, making it one of the most popular tenders of 2025. The top bid was 12.3% higher than the second-highest bid of $1,621 psf ppr from Hoi Hup Realty and Sunway Developments, and 17% above the third-highest bid by Wing Tai Holdings Limited. This indicates varying perspectives on the site’s value among developers.

Tricia Song, Head of Research at CBRE Singapore and Southeast Asia, noted that the site’s appeal lies in its connectivity and proximity to Newton MRT, as well as its location within 1km of two primary schools. The site is also part of the Draft Master Plan 2025, which aims to transform the Newton area into a balanced residential and lifestyle hub.

The top bid of $1,820 psf ppr is the highest for a Core Central Region (CCR) site since 2018, when a site on Cuscaden Road fetched $2,377 psf ppr. The Bukit Timah Road site is expected to launch at an average price of $3,300 to $3,500 psf, reflecting its prime location and the strong demand for residential properties in the area.

Japanese golfer Yosuke Asaji clinched victory at the Moutai Singapore Open on 9 November, finishing with a score of 19-under-par 269. The tournament, held over four days, culminated in a gala hosted by Moutai, which served as a platform for cultural exchange and professional networking. The event attracted distinguished guests, including Asian Tour representatives and global business leaders.

Zhang Xu, Deputy General Manager of Kweichow Moutai Co. Ltd, highlighted the significance of Moutai’s cultural heritage, stating, “The Chinese culture carried by Moutai is the core force for us to go global.” He emphasised the role of golf as a medium to showcase Moutai’s craftsmanship in Singapore, a city known for its cultural diversity.

Cho Minn Thant, CEO of the Asian Tour, praised Moutai’s partnership with the tour, noting its expansion across Japan, Hong Kong SAR, and Singapore. He commended Moutai’s dedication to quality, which aligns with the standards the tour aspires to globally.

Guests at the gala experienced Moutai’s unique distilling techniques and flavours, with one Singaporean player remarking on its distinctiveness compared to other liquors. The event also featured performances with Chinese and Southeast Asian artistic elements, creating a rich cultural atmosphere.

The Moutai Night gala underscored Moutai’s vision of using culture and taste as bridges to connect globally, reinforcing its status as a model brand of Chinese baijiu.

The Monetary Authority of Singapore (MAS) and Indonesia’s Otoritas Jasa Keuangan (OJK) have signed a new Memorandum of Understanding (MOU) to deepen their collaboration in FinTech and digital financial assets. This agreement, signed on 10 November 2025, builds upon a previous MOU from 2018 and aims to foster technological innovation in the financial sector of both countries.

The partnership is set to benefit financial institutions and FinTech firms by leveraging developments in digital financial assets and artificial intelligence. It also seeks to position Singapore and Indonesia as pivotal nodes in ASEAN’s digital economy. Key initiatives under the MOU include the sharing of knowledge and best practices, promoting industry cooperation, and facilitating cross-border information flow for FinTech firms operating within legal frameworks.

Leong Sing Chiong, Deputy Managing Director of MAS, emphasised the longstanding partnership between the two organisations, stating, “We share the same commitment to fostering innovation, addressing barriers, and developing FinTech ecosystems to better serve our markets and across ASEAN.”

Hasan Fawzi, Chief Executive of Financial Sector Technological Innovation at OJK, highlighted the importance of responsible innovation, saying, “Through joint pilots and knowledge-sharing in areas such as Regulatory Sandboxes, digital financial assets, and sustainable innovations, we aim to foster innovations, ensure consumer protection, support MSMEs, and catalyse sustainable growth.”

The MOU signing occurred during a bilateral meeting, underscoring the ongoing commitment of both nations to advance digital finance and support economic growth in the region.

CSE Global Limited has announced a significant transaction with Amazon.com, Inc., involving the issuance of 62,968,580 new warrants. Each warrant grants the right to purchase one ordinary share in CSE Global at an exercise price of S$0.7671. This move, formalised on 10 November 2025, aims to bolster CSE Global’s financial position and support its operational expenditures.

The issuance is part of a broader commercial agreement between CSE Global and Amazon, with the potential to raise approximately S$48.3 million, assuming all warrants are exercised. The funds will be utilised to strengthen the company’s capital base and support ongoing operations. CSE Global has committed to providing updates on the utilisation of these proceeds, ensuring transparency and accountability.

The warrants, which are non-transferable except under specific conditions, are set to expire on 9 November 2030. They are subject to vesting based on qualifying payments by Amazon and its affiliates, with full vesting occurring upon reaching $1.5 billion (US$1.5 billion) in qualifying payments.

CSE Global, a systems integrator listed on the Singapore Exchange, has a strong presence across 15 countries and is known for its electrification, communications, and automation solutions. This partnership with Amazon underscores its commitment to leveraging strategic alliances for sustainable growth. The company will apply for the listing of the warrant shares on the SGX Mainboard, with further announcements to follow upon approval.

A collision occurred between the Singapore-registered passenger ferry, Horizon 9, and the Marshall Islands-registered tanker, La Digue, on 10 November at approximately 5pm off the Southern Islands. The Maritime and Port Authority of Singapore (MPA) confirmed the incident as the ferry was en route to HarbourFront Centre.

An MPA patrol craft was swiftly deployed to escort the ferry back to HarbourFront Centre. All 165 passengers and seven crew members aboard Horizon 9 were safely disembarked at the Regional Ferry Terminal. The ferry sustained damage to its bow above the waterline but remained operational. The tanker, La Digue, reported no damage.

There were no injuries or pollution resulting from the collision, and navigational traffic and port operations remained unaffected. The MPA is currently investigating the incident to determine the cause and prevent future occurrences.

The Straits Trading Company Limited, through its subsidiary Straits Real Estate Pte. Ltd., has announced a strategic partnership with Cromwell Property Group to enhance their industrial and logistics platform across Australia. Cromwell will acquire a 19.9% interest in Straits Real Estate’s Australian industrial portfolio for approximately $30.5m (A$47.6m), with the transaction set to occur in two phases.

The initial phase, expected to complete by 31 December 2025, involves Cromwell acquiring the 19.9% interest and purchasing Terre Property Partners Pty Ltd., which manages the portfolio. The second phase will involve a recapitalisation of the portfolio, anticipated to conclude in FY2026. This collaboration combines Cromwell’s operational expertise with Straits Trading’s institutional strength to drive long-term value creation.

The portfolio includes seven industrial assets in key logistics hubs across South Australia and Victoria, leased to major tenants such as Coca Cola Europacific Partners. These assets are strategically located in areas like Bayswater and Port Adelaide, benefiting from strong connectivity and demand.

Terre Property Partners will integrate into Cromwell’s platform, enhancing its capabilities and supporting its investment management growth. Straits Real Estate will remain an investor, backing future growth initiatives. Cromwell CEO Jonathan Callaghan stated, “By expanding our AUM and partnering with an institutional investor of Straits Trading’s calibre, we’re strengthening our platform.”

This partnership marks a significant step in optimising Straits Trading’s industrial portfolio and aligns with Cromwell’s strategy to reposition as a capital-light investment manager. The collaboration is expected to create new opportunities in sectors with long-term value.

Grab, the Southeast Asian superapp, has initiated a pilot programme in Singapore to enhance navigation accuracy for its driver- and delivery-partners using high-accuracy GPS positioning. Collaborating with Oppo, Qualcomm Technologies, and Swift Navigation, this marks the first deployment of such technology on mobile phones and app integration in Southeast Asia.

The pilot aims to address navigation challenges in Singapore’s dense urban environment, where high-rise buildings and multi-level roads can degrade standard GPS accuracy. By integrating advanced technology from its partners, Grab’s driver- and delivery-partners can now achieve lane-level accuracy, improving navigation efficiency and reducing cancellations.

Oppo’s Find N5 foldable phone, equipped with Dual Frequency GNSS, Qualcomm’s Snapdragon 8 Elite Mobile Platform, and Swift Navigation’s Skylark Precise Positioning Service, form the backbone of this initiative. These technologies work together to deliver real-time GPS correction signals, significantly enhancing location accuracy.

Nilofer Christensen, Head of Consumer Product at GrabMaps, stated, “Grab is the first to bring this level of precise positioning technology to ride-hailing in Southeast Asia.” The pilot, which began in October 2025, involves nearly 250 driver- and delivery-partners, with 60 receiving sponsored Oppo N5 devices.

For consumers, this means more accurate estimated arrival times and fewer delays. The pilot is a step towards Grab’s vision of lane-level navigation across Southeast Asia, promising smoother and more reliable journeys.

Dubai, New York, and Singapore have emerged as the leading destinations for high-net-worth individuals (HNWIs), according to the latest Savills HNWI Hotspot Index. These cities are celebrated for their pro-business environments, robust legal frameworks, and high-quality lifestyle offerings, making them attractive hubs for global wealth.

The index highlights Singapore and Abu Dhabi for their economic competitiveness and connectivity, whilst Dubai excels in international school provision. London, despite shifting tax regimes, remains the top lifestyle destination, underscoring its enduring appeal. The report also notes the prominence of Tokyo, Seoul, New York City, Paris, and London as top retail destinations for luxury brands.

Family offices are increasingly sophisticated, with over half of the top 100 by assets under management located in the US. The UK, Denmark, Singapore, and Germany also feature prominently. Singapore, Dubai, and Monaco are noted for favourable tax environments, lacking inheritance, capital gains, or wealth taxes.

Real estate remains a cornerstone of wealth portfolios, with a growing interest in logistics, data centres, and sustainable developments. The report, part of Savills’ inaugural Spotlight on Wealth Trends, analyses nearly 100 destinations, revealing a dynamic reshaping of global wealth migration.

Kelcie Sellers, Associate Director at Savills World Research, remarked on the shift towards lifestyle-driven wealth management, stating, “Location remains critical. It is a lifestyle shift comparable to the expansion of air travel in the 1960s and 1970s, but driven today by the digital world.” The findings suggest a more fluid, decentralised distribution of wealth, with new hotspots emerging based on agility and vision.

CSE Global Limited, a global systems integrator, announced it secured S$146.1m in new orders for the third quarter ending 30 September 2025. Despite unfavourable foreign exchange movements impacting the order intake, the company saw a 2.7% year-on-year increase on a constant currency basis, excluding two major contracts from the previous year.

The Communications segment was the standout performer, contributing 51.5% of the total order intake with S$75.2m, marking a 24.2% increase from the previous year. This growth was largely driven by new orders from recently acquired companies in the United States. Meanwhile, the Electrification segment secured S$48m, representing a 20.2% year-on-year growth when excluding major contracts from 2024. However, the Automation segment saw a 52.1% decline, attributed to the absence of greenfield orders in the oil and gas sector.

Group Managing Director and CEO Lim Boon Kheng stated, “Whilst the global operating environment remains uncertain, our underlying operations remain strong. We continue to take a disciplined approach to tendering and project selection, with a focus on quality execution and sustainable returns.”

The new orders bring CSE Global’s order book to S$467.5m for the first nine months of 2025. These developments are not expected to materially impact the company’s net tangible assets or earnings per share for the current financial year.