Industry News

The Housing & Development Board (HDB) has announced the launch of land tenders for two sites at Hougang Central and Sembawang Road under the first half of 2025 Government Land Sales programme. The Hougang site is set to offer approximately 835 residential units and 40,000 square metres of commercial space, whilst the Sembawang site will provide around 265 units. The tenders will close on 16 December 2025 and 11 September 2025, respectively.

The Hougang Central site is strategically located near the Hougang MRT Station Interchange, providing access to both the future Cross Island Line and the North East Line. This development will include commercial spaces, enhancing the area’s amenities and retail options. Justin Quek, CEO of OrangeTee & Tie, noted the site’s proximity to several primary schools, making it attractive to families. He also highlighted the pent-up demand for new homes in Hougang, given the limited supply since 2014.

In Sembawang, the Executive Condominium (EC) site is conveniently near Canberra MRT station and Canberra Plaza. The area is appealing for families, with nearby schools and recreational options such as Sembawang Hot Spring Park. Quek pointed out the low supply of ECs in the region, with only one unit remaining unsold in the recent Provence Residence project.

Both sites are expected to attract multiple bidders. For Hougang, Quek anticipates 3 to 5 bidders with a land rate of $660 to $720 (S$900 to S$980) per square foot per plot ratio (psf ppr). The Sembawang site could see 4 to 7 bidders, with a land rate of $490 to $550 (S$670 to S$750) psf ppr. These developments are poised to meet the growing demand for residential units in Singapore.
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Paragon Capital Management (PCM) has announced the appointment of Trevor Lau as Managing Director and Strategist, effective immediately. Lau, who will be based in Singapore, will report to Paul Lee, Co-founder and CEO, and Irene Ng, Chief Operations Officer of PCM. With over two decades of experience in private banking and wealth management across Asia, Lau has held senior roles at Credit Suisse, Azura Investment Partners, UBS, and Citigroup Private Bank.

Lau’s extensive background includes leading high-performing teams and delivering tailored investment solutions for ultra-high-net-worth individuals. At Azura Investment Partners, he was instrumental in establishing the Singapore office and launching the firm’s Asia platform. His role at UBS as Managing Director focused on business growth for Southeast Asia’s ultra-high-net-worth entrepreneurs.

Paul Lee expressed enthusiasm about Lau’s appointment, stating, “His extensive experience in building and leading high-performing teams, driving business growth, and delivering bespoke investment solutions for ultra-high-net-worth clients will certainly add value to our organisation and for our clients.”

Lau, a CFA charterholder since 2000, holds a Master of Science in Applied Finance from the National University of Singapore and a Bachelor of Business from Nanyang Technological University. He remarked, “PCM is a conviction-driven asset management firm with a strong track record. I am honoured to join this exceptional team.”

Paragon Capital Management, with assets under management exceeding $880 million (SGD 1.2 billion), operates in Singapore and Hong Kong, offering a diverse suite of funds across public and private markets. The firm is known for its strong investment performance and tailored strategies for accredited investors.
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CGS International has released its latest strategy note, predicting that Singapore’s market will experience growth throughout 2025. The report highlights the anticipated enhancement of market liquidity through the Enhanced Market Development Programme (EMDP) and sustained market earnings growth as key factors contributing to this positive outlook.

The strategy note suggests that investors should focus on companies demonstrating robust earnings growth, strong capital management, or value-unlocking strategies. CGS International has identified 13 companies that align with these themes, including KEP, SATS, SCI, SIE, UOL, BRC, CSE, FEH, FRKN, MPM, PAN, PROP, and QNM.

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M1 has announced the launch of its commercial 5G RedCap network services for enterprise customers, marking a significant milestone in the region’s telecommunications landscape. This deployment, part of M1’s next-generation 5G-Advanced Network, is the first known launch of RedCap services for enterprises in Southeast Asia, offering enhanced connectivity solutions.

5G RedCap technology bridges the gap between legacy Internet of Things (IoT) technologies and full 5G deployments. It provides higher reliability, lower latency, extended battery life, reduced costs, improved coverage, and enhanced security features, all crucial for enterprise applications. This addition strengthens M1’s existing suite of advanced 5G capabilities, which includes Network Slicing, Speed Priority, VIP Access, and Carrier Aggregation.

Andrew Cheng, M1’s Chief of Enterprise Services, stated, “M1 is establishing the benchmark for business connectivity solutions in the region. By being the first in Southeast Asia to offer 5G RedCap network services in the enterprise space, we are enabling our business customers to gain competitive advantages through more efficient, reliable, and scalable connected solutions.”

The new solution leverages Nokia’s 5G RedCap technology, which supports the expansion of the 5G ecosystem with new industrial IoT devices and low-power wearables. This allows operators to deliver a wider range of services to more devices, accelerating IoT deployment across various industries. Jae Won, Senior Vice President at Nokia, commented, “The introduction of 5G RedCap will unlock new opportunities for many industries, with potentially billions of new devices connected with 5G.”

M1 has also partnered with Ransnet, a local device manufacturer, to ensure the compatibility and availability of RedCap-compatible devices for enterprise customers in Singapore. This collaboration aims to accelerate the development and deployment of these devices, further enhancing M1’s enterprise solutions portfolio.
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Singapore has announced significant insights from the world’s first technical testing of real-world Generative AI (GenAI) applications, as revealed at the ATxSummit 2025. The Global AI Assurance Pilot, launched in February 2025 by the AI Verify Foundation (AIVF) and the Infocomm Media Development Authority (IMDA), paired 16 specialist AI testers with 17 GenAI deployers across 10 industries, including finance and healthcare.

The initiative aims to establish emerging norms and best practices for GenAI applications, addressing the unique risks associated with different industries and use cases. “Gen AI risks are often context-dependent,” noted the pilot’s findings, emphasising the need for subject matter experts throughout the application lifecycle.

In addition to the pilot, Singapore introduced the world’s first Testing Starter Kit for GenAI applications. This kit offers practical guidance for businesses developing or using GenAI, focusing on risks such as hallucination and data disclosure. The kit is designed to evolve alongside technological advancements, supported by tools like Project Moonshot.

These efforts underscore Singapore’s commitment to fostering a trusted AI ecosystem. By advancing AI science and providing practical testing tools, Singapore aims to catalyse innovation and ensure responsible AI deployment. The initiatives also highlight Singapore’s role in shaping global AI norms and promoting international cooperation.

Looking ahead, Singapore continues to champion AI for public good, with AI Singapore partnering with the UN Development Programme to enhance AI literacy in developing countries. This collaboration extends the successful AI for Good programme to a global scale, aiming to transform communities and bridge the AI literacy divide.
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The leasing volume of private residential properties in Singapore increased by 4.8% quarter-on-quarter in Q1 2025, driven entirely by the non-landed segment, according to Savills Research. This growth comes despite a slowdown in the country’s economic growth and employment gains. The non-landed segment saw a 5.2% rise, whilst the landed segment experienced a 1.8% decline.

The Rest of Central Region (RCR) led the quarterly growth with a 7.1% increase, followed by the Core Central Region (CCR) at 6.3% and the Outside Central Region (OCR) at 2.3%. Year-on-year, the residential leasing volume rose by 3.7%, reversing declines from 2022 to 2024. This increase was supported by new completions and more reasonable rents, particularly in the CCR and RCR.

Among the top non-landed projects by leasing volume were Normanton Park, One Pearl Bank, D’Leedon, Parc Esta, and Marina One Residences. One Pearl Bank, completed in August 2024, saw a significant number of leases for smaller units, with studio and one-bedroom flats making up 55.4% of total leases.

George Tan of Savills Singapore noted that the influx of new completions has created a strong value proposition for tenants seeking quality homes in central regions. Alan Cheong, also from Savills, highlighted potential challenges ahead, including corporate cost control and the impact of generative AI on the workforce, which may affect future demand for foreign tech workers.

As the market absorbs vacant units from recent completions, the island-wide vacancy rate eased slightly to 6.5%. Looking forward, the leasing demand for well-located properties is expected to remain robust, driven by lifestyle appeal and connectivity.
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AI-powered platform Atiom has announced a strategic partnership with Minor Group, a global hospitality leader, to revolutionise staff training and engagement across more than 560 luxury hotels and resorts. This collaboration aims to enhance communication, training, and guest services by providing personalised daily quests through Atiom’s gamified platform.

The partnership will see the initial rollout of 17,000 licences across Minor Hotels’ diverse portfolio, including renowned brands such as Anantara Hotels & Resorts and Avani Hotels & Resorts. Atiom’s platform offers tools for AI tutor modules, role-play simulations, and quizzes, alongside features for self-audits and peer recognition, ensuring teams remain aligned with company objectives.

This initiative is a significant milestone for Atiom, marking its expansion in the luxury hospitality sector. Minor Group aims to empower its teams, optimise training costs, and improve operational efficiency through this collaboration. The Singapore hospitality market is projected to reach $11b by 2033, and this partnership positions Minor Group to meet growing demand effectively.

Matthew Spriegel, CEO of Atiom, stated, “This rollout marks a significant milestone for Atiom. Minor Hotels is a forward-thinking partner that understands the need to empower frontline teams with smarter tools.” Craig Cochrane, Chief People Officer at Minor Hotels, added, “The launch of Atiom in our hotels has been a key enabler in reinforcing our brand standards.”

With over 2,000 food and beverage outlets globally, Minor Group’s partnership with Atiom is poised to enhance its operational efficiency and profitability, solidifying Atiom’s role in the luxury hospitality industry.
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Singapore Technologies Engineering Ltd (STE) has reported a steady performance for the first quarter of the financial year 2025, with revenue largely meeting expectations. The company’s defence sector led the way in segmental performance, contributing significantly to the overall results.

Despite this, DBS Group Research has downgraded STE to a “hold” rating, citing a balanced risk-reward scenario.

The company’s target price has been slightly increased to S$7.70, reflecting its stable growth. However, the potential for further upside appears limited. A notable achievement for STE is the record high order backlog of SGD29.8 billion, bolstered by healthy contract wins amounting to S$4.4b. This backlog underscores the company’s robust pipeline and future revenue potential.

Whilst tariffs are anticipated to have a minimal impact on near-term earnings, the situation could change if trade tensions escalate significantly. The company’s strategic positioning in the defence sector continues to be a key driver of its performance, yet the overall outlook remains cautious.

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Singapore-headquartered Aspire, a leading finance platform for businesses, has announced its integration with Stripe, a global financial infrastructure platform, to offer faster and more flexible payment solutions. This collaboration enables businesses across Asia to receive payments through credit and debit cards, Apple Pay, and Google Pay, significantly reducing the typical payment cycle from seven days to just three.

The integration addresses a critical need for financial flexibility in the B2B sector, where lengthy payment cycles can hinder cash flow. Research indicates that businesses not accepting card payments face an average revenue loss of 46%. By enabling Aspire users to accept payments via credit cards and local payment methods like GrabPay and WeChat Pay, the platform provides a seamless payment experience for customers.

Andrea Baronchelli, CEO and founder of Aspire, stated, “This partnership with Stripe aims to address two critical pain points—speed and flexibility. Together, we are removing the friction of money, empowering businesses to focus on what they do best: growing and scaling their operations.”

Paul Harapin, Stripe’s Chief Revenue Officer in Asia Pacific, added, “Small and medium businesses make up over 97% of all businesses in APAC. Working together, Aspire and Stripe help ensure that SMBs fully benefit from cutting-edge technology to enjoy seamless and flexible payment solutions.”

Aspire’s integration with Stripe marks a significant step in its mission to empower global businesses with essential financial tools, enhancing its all-in-one platform to support businesses in managing payments and scaling operations efficiently.
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Singapore-headquartered Wilmar International’s recent site visit in China revealed the company’s extensive operations and its strategic plan to expand through food parks. However, analysts from RHB Group maintain a neutral stance on the company’s stock, with a target price of SGD3, citing potential delays in profitability due to ongoing economic uncertainties. The company’s valuation is expected to remain lower than its China-listed counterparts until a significant earnings turnaround occurs.

The visit highlighted Wilmar’s vision to increase its footprint in China, a market with vast potential. Despite the impressive scale of operations, the economic landscape poses challenges that could delay the profitability of these ventures. “We were impressed with the size and scale of Wilmar International’s operations in China,” noted the analysts, but they cautioned that it might take a couple of years for the expansion to become profitable.

The company’s strategy involves leveraging food parks to drive growth, a move that aligns with its long-term vision. However, the analysts emphasised that the current economic uncertainties could hinder immediate financial gains. Until Wilmar’s earnings show a significant improvement, its stock is likely to trade at a discount compared to its peers in China.

In conclusion, whilst Wilmar International’s expansion in China is promising, the path to profitability may be prolonged due to economic factors. The company’s future performance will largely depend on its ability to navigate these challenges and achieve a turnaround in earnings.
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