Industry News

Lum Chang Creations Limited, a leading urban revitalisation specialist in Singapore, has announced a significant financial performance for the fiscal year ending 30 June 2025. The company reported a 93% increase in revenue, reaching S$113.6m, up from S$59.0m in FY2024. This growth was driven by ongoing and new projects. Net profit also saw a remarkable rise of 140%, totalling S$13.5m compared to S$5.6m in the previous year.

The company’s gross profit rose to S$22.4m, with a gross profit margin improvement from 18.1% to 19.7%. This was largely due to procurement savings. The net profit margin increased by 3.4 percentage points to 11.4%, reflecting Lum Chang Creations’ focus on operational efficiency.

The company maintains a strong order book of S$112.8m as of 30 June 2025, providing solid revenue visibility. Additionally, the board has proposed a dividend of 2.2 Singapore cents per share, representing a 53.7% payout ratio, subject to shareholder approval.

Lum Chang Creations is well-positioned to capitalise on opportunities from the Urban Redevelopment Authority’s masterplan, which promotes the adaptive reuse of heritage buildings. The company aims to leverage its expertise in conservation and restoration to meet rising demand in this sector.

Managing Director Lim Thiam Hooi stated, “Our strong financial performance in FY2025 is a testament to the dedication of our team and the trust our clients have placed in us.” The successful IPO has bolstered the company’s financial standing, enabling it to pursue new opportunities confidently.
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Singlife, a prominent financial services company in Singapore, has unveiled the Singlife Caregiver Support Pack, designed to alleviate the emotional and mental burdens faced by caregivers. This initiative, launched in partnership with Diabetes Singapore, Home Nursing Foundation, Singapore Cancer Society, and the Singapore National Stroke Association, aims to provide comprehensive support to 200 caregivers from 1 September to 31 December 2025, with the programme extending throughout 2026.

The Caregiver Support Pack offers several key benefits, including six one-hour clinical counselling sessions with licenced professionals, access to a personalised self-care platform with a 24/7 helpline, and a one-year Group Personal Accident Coverage with a payout of $11,000 (S$15,000) in case of accidental death or total and permanent disability. This initiative follows Singlife’s July 2025 white paper, which highlighted the significant emotional and economic toll of caregiving in Singapore.

Helen Shen, Group Head of Products at Singlife, emphasised the importance of supporting caregivers, stating, “As a homegrown company, we recognise that caregivers are the unsung heroes of our nation, often putting their own needs last.”

The programme also includes educational sessions and community outreach initiatives, with Singlife staff volunteering to support these efforts. The collaboration aims to raise awareness and provide essential resources to caregivers, ensuring they are not alone in their journey. This initiative underscores Singlife’s commitment to addressing the challenges of long-term care and supporting the wellbeing of caregivers in Singapore.
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Global Trade Review (GTR) has announced the return of GTR Asia 2025, set to take place in Singapore on 23 September 2025. The event, renowned as the premier platform for the Asia Pacific trade community, will host over 1,500 senior decision-makers from sectors including trade and supply chain finance, commodity finance, fintech, and treasury. This year’s programme promises dynamic formats to enhance audience engagement and dialogue.

The conference will feature the Tradetech Showcase, hosted by GTR Ventures, which will spotlight cutting-edge fintech innovations. Additionally, a new boardroom scenario session will focus on global trade security. Attendees can also look forward to in-depth discussions, fireside chats, and interactive presentations. The Asia Bank to Bank Forum, hosted by the Bankers Association for Finance and Trade, will offer high-level debates on the banking and finance landscape.

More than 100 expert speakers will address pressing issues such as global trade realignment, Asia’s strategic positioning in a multipolar economy, and the potential of digitalisation in trade finance. The event will also explore whether artificial intelligence can reinvigorate discussions around digital transformation.

Supported by leading financial institutions and regional trade bodies, GTR Asia 2025 offers unparalleled networking opportunities, with 50 exhibitors and eight hours dedicated to networking. Platinum sponsors include Deutsche Bank, SMBC, and Standard Chartered, with Gold Sponsors such as Barclays, Citi, and MUFG. Jeff Ando, Director of Content Production at GTR, highlighted the event’s role in addressing today’s challenges and opportunities in trade finance.
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Lincotrade & Associates Holdings Limited has announced an 11.5% increase in net profit for the financial year ending 30 June 2025, reaching S$2.6m. This growth is attributed to a strategic focus on high-margin commercial projects, which saw revenue rise by 17.3% to S$66.1m. The company’s overall revenue increased by 8.5% to S$73.6m, bolstered by a robust order book that grew by 74.4% to S$68.9m.

The company’s Managing Director, Tan Jit Meng, highlighted the resilience of Lincotrade’s business model amidst rising costs from new subsidiaries. “We are pleased to deliver another profitable full-year performance,” he stated, emphasising the company’s commitment to executing its growth strategy with discipline and agility.

Lincotrade’s gross profit margin improved to 12.5%, resulting in a 17.3% increase in gross profit to S$9.2m. Despite a 19.5% rise in total expenses, primarily due to new subsidiaries and property expenses, the company maintained its profitability.

The board has proposed a final dividend of 0.66 Singapore cents per share, translating to a 44% payout of net profit attributable to shareholders, surpassing the company’s policy of at least 20%. This move underscores Lincotrade’s dedication to delivering sustainable shareholder returns.

Looking ahead, Lincotrade is expanding its presence in Malaysia and China, with new subsidiaries and projects, including a residential development in Kuala Lumpur. The company remains focused on leveraging its expertise to harness growth opportunities both locally and overseas.
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Nanit, renowned for its advanced baby monitoring systems, has officially launched its innovative products in Singapore. The company aims to revolutionise infant care by offering parents a comprehensive platform that combines award-winning hardware with an AI-driven app. This platform, known as “The Nanit Effect,” provides real-time HD video, breathing motion monitoring, sleep analytics, milestone tracking, and care logs, transforming raw data into actionable insights for parents.

The launch in Singapore includes the Nanit Pro Camera, Sound & Light Machine, and Breathing Band, all designed to support baby sleep, development, and wellbeing. Dr Natalie Barnett, Nanit’s Vice President of Clinical Research, is available for exclusive media interviews in Singapore on 9 and 10 September 2025. Dr Barnett, a global expert in sleep science and neurogenetics, leads Nanit Lab, where she collaborates with prestigious institutions like Weill Cornell Medicine and Columbia University to conduct pioneering research on infant sleep and parental wellbeing.

Dr Barnett also founded Seven Oaks Sleep Science, offering behavioural sleep support and designing programmes to help families establish healthier sleep routines. Her insights and research provide valuable guidance for families seeking to improve their infants’ sleep patterns and overall health.

The introduction of Nanit’s smart baby monitors in Singapore represents a significant advancement in parenting technology, offering parents peace of mind and confidence in their child’s development.
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The land betterment charges (LBC) for September 2025 have seen an average increase of 0.7% for the B2 (non-landed) use group, according to Huttons Asia. This adjustment comes amidst a backdrop of renewed optimism in the property market, driven by Singapore’s stronger-than-expected economic performance in the first half of 2025 and lower interest rates.

The most significant increases in LBC were observed in sectors 96, 89, and 90, with rises of 15.4%, 12.1%, and 12.1% respectively. The property market’s buoyancy has been reflected in robust sales at recent launches, prompting developers to actively replenish their land banks. This has resulted in intensified competition in Government Land Sales (GLS) tenders, with more bidders participating than the usual three, leading to higher bids.

For Group B1 (landed) properties, the LBC rose by an average of 0.4%, attributed to a surge in high-value transactions in the Good Class Bungalow (GCB) market. Notably, 11 GCB deals were recorded in the second quarter of 2025, compared to just two in the first quarter. The largest transaction was a GCB in Caldecott Hill Estate, sold for $58 million (£58 million) to parties linked to the founders of the Koufu Group.

Looking ahead, developers are expected to remain active in GLS tenders, with sites at Chencharu Close, Hougang Central, Telok Blangah Road, and Tanjong Rhu Road anticipated to attract competitive bids. This could potentially lead to higher LBC rates in future reviews.
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Debtox has announced a strategic collaboration with The Silver Lining, a nonprofit organisation, to revolutionise debt resolution in Singapore. This partnership aims to provide a comprehensive approach to debt management by integrating financial restructuring with support for behavioural issues like compulsive spending and gambling addiction.

Debtox, known for its ethical and transparent debt management services, will work alongside The Silver Lining to offer clients a dual-faceted support system. This includes emotional recovery programmes and practical financial solutions such as the Debt Repayment Scheme (DRS) or bankruptcy applications. Clients will benefit from personalised debt repayment plans that align with their long-term recovery goals.

The collaboration is unique in its holistic approach, recognising that financial recovery involves more than just numbers. By addressing both financial and behavioural health, Debtox and The Silver Lining aim to empower individuals to rebuild their lives comprehensively. This model ensures that clients receive assistance tailored to their unique circumstances, including debt restructuring and consolidated debt management options.

This partnership aligns with the Ministry of Law’s recent initiatives to enhance the integrity of the DRS and prevent unethical debt consultancy practices. Both organisations support these measures, aiming to build trust and safeguard the scheme’s intent. The collaboration is designed to work within the Ministry’s framework, ensuring each case is handled with empathy and understanding.

Debtox and The Silver Lining are committed to setting a new standard for responsible debt assistance in Singapore, focusing on breaking cycles of debt, shame, and isolation. Through expert financial guidance and compassionate recovery support, they hope to redefine ethical debt resolution as a people-centred endeavour.
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Hennessy has brought its exclusive “Hennessy Paradis” experience to Singapore this August, offering a select group of invitees a rare glimpse into the creation of the Maison’s most exceptional blend. The event, designed to engage the senses, combined sound, scent, taste, and storytelling in a distraction-free environment, tailored for those who truly appreciate the rare and remarkable.

The evening commenced with a guided masterclass, allowing guests to delve into the craftsmanship of the Maison in an intimate setting. This was further enhanced by La Chambre du Hennessy, which showcased a captivating array of limited editions and rare expressions. Amongst the highlights were the Hennessy Paradis Unlimited, Hennessy Paradis X Lorenz Bäumer NBA 3L, Hennessy Paradis Gold Edition, and the Hennessy Paradis Chinese New Year editions for 2023, 2024, and 2025. Additionally, the event featured the much-coveted Hennessy Paradis x LOEWE 3L collaboration.

This exclusive showcase not only highlighted the Maison’s dedication to excellence but also offered a unique opportunity for connoisseurs to experience the depth and complexity of Hennessy’s finest blends. As the event concluded, it left attendees with a deeper appreciation for the artistry and tradition behind one of the world’s most revered cognacs.
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Tesla has officially launched the Model 3 Long Range Rear-Wheel Drive in Singapore, boasting an impressive range of up to 691km on a single charge. This new trim, unveiled on 29 August 2025, offers the longest range among Tesla vehicles available in the country, optimised for efficiency with a drag coefficient of 0.22Cd and achieving 13.6km/kWh.

The introduction of the Model 3 Long Range Rear-Wheel Drive is part of Tesla’s ongoing efforts to enhance its offerings in Singapore. The vehicle is priced from $102,215 without a Certificate of Entitlement (COE) and from $226,615 with a Category B COE, based on the 20 August 2025 bidding exercise. Additionally, all Tesla vehicles, including this new model, qualify for the EV Early Adoption Incentive and Vehicular Emission Schemes, providing a rebate of up to $40,000.

Tesla continues to expand its Supercharging Network in Singapore, with the latest station at Westgate Shopping Centre featuring four V4 Supercharging Stalls. These stalls provide a peak charging rate of 250kWh, allowing the Model 3 Long Range to gain up to 282km of range in just 15 minutes. Furthermore, Tesla’s Home Charging Programme offers new owners a complimentary Tesla Wall Connector, valued at $790, along with a two-year warranty and a one-time charger maintenance service.

The Model 3 Long Range Rear-Wheel Drive can be experienced at the Tesla Experience Centre in Singapore. For more updates, Tesla encourages following their official social media channels.
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The Singapore Computer Society (SCS), in collaboration with SkillsFuture Singapore (SSG) and the Infocomm Media Development Authority (IMDA), has unveiled a new Skills Pathway for Cloud. Launched at the Tech³ Forum at the Ritz-Carlton, Millenia Singapore, this initiative is designed to address the growing need for cloud expertise in Singapore’s rapidly evolving technology landscape. The programme offers industry-relevant training and certifications, targeting both new entrants and mid-career professionals, to enhance their career prospects in the tech sector.

The Skills Pathway for Cloud is structured into two levels, preparing individuals for roles such as Cloud Infrastructure Engineer and Cloud Solution Architect. Participants can gain industry-recognised certifications and access internship and job opportunities with key employers, including DBS and ST Engineering. Edward Chen, Chairman of SCS Skills Pathway, highlighted the initiative’s role in bridging the gap between stakeholders and shaping talent development strategies aligned with workforce needs.

This marks the second Skills Pathway developed by SCS, following the successful launch of the Skills Pathway for Cybersecurity in July 2024. The earlier programme saw over 180 individuals secure internships or employment, demonstrating the demand for job-relevant training. The new cloud pathway is expected to further strengthen Singapore’s digital workforce, with tech jobs in the country having grown from 172,000 in 2019 to 214,000 in 2024, according to IMDA.
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