Industry News

Singapore’s Ascott Limited and Malaysia’s Coronade Properties have signed a Hotel Management Agreement, marking Ascott’s entry into Johor Bahru. The new hotel will be strategically located within Coronation Square, directly connected to the Johor Bahru-Singapore Rapid Transit System (RTS) Link, which is set to commence operations by the end of 2026. This development aims to cater to business travellers, tourists, and long-term residents.

The RTS Link, a significant infrastructure project, is expected to facilitate the movement of 10,000 passengers per hour in each direction, reducing travel time between Woodlands North and Bukit Chagar to approximately five minutes. This connectivity is anticipated to enhance the economic integration between Singapore and Johor, as highlighted by the recent Johor-Singapore Special Economic Zone (JS-SEZ) Agreement signed in January.

The JS-SEZ is designed to leverage the complementary strengths of Singapore and Johor, attracting international investments and fostering economic growth. The collaboration aims to improve cross-border goods connectivity, enable freer movement of people, and strengthen the regional business ecosystem.

Minister of State for Trade and Industry Alvin Tan emphasised the cultural and economic ties between Singapore and Johor, stating, “The success of the JS-SEZ and greater economic integration is not just the result of our geographic proximity, but a cultural familiarity reflected in our strong people-to-people ties, and deep economic cooperation.”

The partnership between Ascott and Coronade is expected to contribute significantly to the region’s economic landscape, aligning with the broader goals of the JS-SEZ and the RTS Link project.
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The People’s Association (PA) is set to transform Singapore’s neighbourhoods into vibrant art spaces as part of the PAssionArts Festival 2025. In celebration of Singapore’s 60th birthday, the Giant Delight SG60 Edition will showcase 18 large-scale art installations, co-created by Community Arts & Culture Clubs (CACCs), local artists, and residents. These installations will be unveiled across the island from August 2025, under the theme “Our Neighbourhood Gems.”

The Giant Delight installations offer customisable canvases for artists and residents to depict their unique neighbourhood stories. Through community art workshops organised by the CACCs, participants have transformed blank canvases into vibrant public art celebrating local life. The installations come in two formats: the Mega Giant Delight series, featuring five district-level installations with interconnected hexagonal pods, and 13 smaller installations with unique structures.

Tan Swee Leng, Director of Arts & Culture Division at PA, highlighted the significance of these installations: “The Giant Delight installations are a highlight of our SG60 PAssionArts Festival celebration, with each telling a unique neighbourhood story crafted in partnership with the district, their artist and residents.”

The Mega Giant Delight installations are immersive collaborations led by artists and CACCs. Notable examples include “Living Side by Side” in the North East District, which highlights urban wildlife, and “Cheers Singapore” in the South East District, celebrating culinary diversity.

Three Mega Giant Delight installations will be anchor attractions at the National Day Heartland Celebrations on 10 August 2025. The remaining 13 installations will be launched progressively from the end of August 2025, with displays running until March 2026. These creative collaborations aim to bring art closer to the heartlands, celebrating Singapore’s diverse neighbourhood stories.
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A recent study by Milieu Insight has unveiled a significant shift in Singaporeans’ attitudes towards education, with a growing emphasis on mental well-being and soft skills over traditional academic achievements. Conducted online between 26 June and 17 July 2025, the study surveyed 1,000 Singaporeans aged 16 to 55 and found that whilst 73% express satisfaction with the current education system, there is an increasing recognition of the importance of communication and critical thinking skills.

The study highlights that parents, particularly those aged 25 to 34, are heavily investing in tuition, with 40% spending between $300 and $499 monthly. Despite this, nearly half of the parents acknowledge the significant academic stress their children face. Interestingly, only 40% believe their child’s performance would decline without tuition, indicating a shift in the perceived necessity of extra academic support.

Mental well-being emerged as the top priority for children’s future success, followed by communication and collaboration skills. This reflects a broader trend towards valuing holistic success over academic credentials. Additionally, 38% of respondents now view a university degree as only moderately important, with many favouring real-world experience and alternative education paths such as apprenticeships and skills-based workshops.

Juda Kanaprach of Milieu Insight commented, “The data paints a clear picture: whilst academic achievement and degrees still matter, Singaporeans are becoming increasingly mindful of soft skills, well-being, and alternative educational paths.” This evolving mindset suggests that Singapore’s education system is poised for transformation to align with the changing demands of society and the workforce.
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Sembcorp Industries is focusing on mergers and acquisitions (M&A) and capital recycling to drive future growth, according to a recent report by CGS International. The company, which faced a dip in profits from its gas and related services in the first half of 2025, is looking to offset these challenges by leveraging synergies from Senoko Energy and exploring new opportunities in the Middle East.

In the first half of 2025, Sembcorp reported a net profit of $392 million (S$536 million), a 1% year-on-year decrease, largely due to a weaker performance in its gas and related services segment. This was attributed to the absence of one-off gas-related gains and high-priced renewable energy imports from Malaysia. However, the company expects an improved performance in the second half of the year, with Senoko Energy projected to contribute significantly to profits.

Sembcorp is also exploring capital recycling of mature renewable energy assets in India, where it currently has an installed capacity of 3.3 gigawatts. The company anticipates that this strategy could be realised by the end of 2025 or early 2026. Additionally, Sembcorp is pursuing M&A opportunities in the Middle East, aiming for deals that could yield earnings accretion of around $73 million (S$100 million).

Despite the challenges, Sembcorp maintains a positive outlook, with a target price of $5.88 (S$8.02) based on a 13x price-to-earnings ratio for 2026. The company remains committed to enhancing shareholder value through strategic initiatives and operational improvements.
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Genting Singapore reported a decline in its gaming revenue for the second quarter of 2025, with an 8.1% quarter-on-quarter drop, largely due to renovation works at Resorts World Sentosa (RWS) affecting visitor numbers. The company’s adjusted EBITDA for the quarter stood at $137.5 million (S$187.9 million), marking a 6.6% year-on-year decrease and a 20.3% drop from the previous quarter, missing both company and Bloomberg consensus estimates.

The decline in gaming revenue contrasts with the 24.6% growth seen by competitor Marina Bay Sands, suggesting a loss in market share for Genting Singapore, particularly in the mass gaming segment. The renovations at RWS are believed to have deterred visitors, impacting footfall and revenue.

Staff costs have also risen by 17.4% year-on-year to $214.0 million (S$292.7 million) in the first half of 2025, as the company increased its workforce to support new attractions such as Minion Land and the Singapore Oceanarium. Despite these challenges, management remains optimistic about the potential for these attractions to boost visitor numbers and spending in the future.

Genting Singapore has adjusted its financial forecasts, reducing its FY25-FY27 adjusted EBITDA by 7.3-9.5% and net profit by 5.1-13.0%, reflecting a cautious outlook. The target price for the company’s shares has been lowered to $0.61 (S$0.835), with expectations of profitability recovery in FY26 following the full opening of RWS 1.5 attractions. However, risks remain, including potential sluggishness in the tourism industry and lower-than-expected visitor spending.
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The Singapore strata commercial market remained resilient in the first half of 2025, with Knight Frank Singapore reporting consistent sales activity in both office and retail sectors. A total of 189 strata office transactions were recorded, amounting to $510 million (S$699.6 million), mirroring the activity from the latter half of 2024. However, the average unit price saw a slight decline of 3.2% to $2,032 (S$2,787) per square foot (psf).

The Downtown Core and Rochor areas led the sales volume, with the former achieving 44 transactions valued at $344 million (S$471.7 million). Notable sales included units at 20 Collyer Quay for $67 million (S$91.8 million) and several units at 108 Robinson Road for $41 million (S$55.8 million). Mary Sai, Executive Director of Capital Markets at Knight Frank Singapore, highlighted the appeal of strata units as “boutique bite-size niche opportunities” for investors.

Freehold strata office sales saw a decrease in total sales value by 20.1% to $183 million (S$251.6 million), whilst leasehold transactions increased by 17.8% to $326 million (S$448 million). The market outlook remains cautious, yet promising, with potential new project launches like One Sophia and The Golden Mile.

In the strata retail sector, sales value rose by 35.5% to $213 million (S$292.3 million), despite a stable average unit price of $2,189 (S$3,004) psf. Freehold retail transactions increased in value by 51.8% to $123 million (S$168.8 million), whilst leasehold sales grew by 18.2% to $90 million (S$123.5 million). The retail market faces challenges from rising costs and geopolitical tensions, but opportunities for organic gentrification, such as at Fortune Centre, may drive future interest.

Knight Frank anticipates the total transaction value for strata office units could surpass $730 million (S$1 billion) by the end of 2025, whilst retail sales are projected to reach between $292 million (S$400 million) and $365 million (S$500 million).
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Cohesity, a leader in AI-powered data security, has launched the Cohesity Aspire Partner Programme, a comprehensive framework designed to enhance partner engagement and profitability. The programme, announced today, offers partners across various business models the opportunity to access new revenue streams, certifications, and training, whilst simplifying their collaboration with Cohesity.

The Aspire Partner Programme is structured to support partners in the ASEAN region, where organisations are rapidly modernising IT environments amidst rising cyber threats. Mike Walkey, senior vice president of Global Partner Sales at Cohesity, stated, “The Cohesity Aspire Partner Programme reimagines how we do business with partners and enable them to succeed.” The programme is designed to provide flexibility for partners to adapt to emerging technologies like AI, ensuring customer confidence in their solutions.

Peter Hanna, VP Channel and Alliances APJ at Cohesity, emphasised the programme’s role in enhancing cyber resilience, stating, “Aspire delivers the tools, flexibility, and future-ready framework partners need to grow.” The programme includes a centralised portal for resources and tools, and offers tiered levels of participation—Premier, Preferred, or Associate—with corresponding benefits.

The programme focuses on three key areas: profitable growth, technical strength, and differentiation. It offers competitive margins, partner-sourced deal rewards, and performance-based incentives. Technical professionals can gain exclusive Cohesity Accreditations, whilst the Cohesity Aces programme recognises top technical experts. Partners can also expand services and explore new revenue streams through professional services and training certifications.

“As businesses across Singapore and ASEAN accelerate their digital transformation, data resiliency and security against ransomware and cyber-attack has become a top priority. Cohesity’s commitment to the region and its innovative, AI-driven approach to safeguarding and recovering data sets a strong foundation for long-term success,” said Jacqueline Chay, Chief Operating Officer, AsiaPac Technology Pte Ltd. “We’re proud to strengthen our partnership and look forward to working together to deliver scalable, resilient data security solutions that help organisations thrive in an increasingly complex cyber landscape.”
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DBS is pioneering efforts to support small and medium-sized enterprises (SMEs) and heartland merchants in Singapore by enhancing their capabilities in live commerce. The bank’s research indicates that live commerce, a form of livestream shopping, could generate up to $1.3 billion (SGD 1.67 billion) in sales this year, representing 40% of the local social commerce market. This initiative is part of DBS’s strategy to help businesses tap into the growing trend of social commerce, which is expected to reach $3.2 billion (SGD 4.11 billion) in 2025.

The shift towards live commerce is largely driven by changing consumer habits, with more people spending time on social media platforms. DBS’s research highlights that social commerce is growing at a compound annual growth rate of 16%, with expectations to double by 2030. Live commerce offers a more engaging shopping experience, allowing real-time interaction between consumers and merchants, which significantly boosts conversion rates.

To support this growth, DBS has launched workshops and live-selling sessions for SMEs. In collaboration with TikTok and Boom Media, the bank has conducted social commerce workshops and live selling sessions, training over 70 participants in content creation and viewer engagement. The recent “SG60: Transforming Businesses for the Future” event, a 60-hour live-selling marathon, showcased 60 local businesses and generated nearly 15 million impressions on TikTok.

Chen Ze Ling, Group Head of Corporate and SME Banking at DBS, emphasised the importance of live commerce in helping SMEs reach regional customers without a physical presence overseas. Sachin Mittal, Head of Technology Research at DBS, noted that live commerce is becoming integral to the online shopping experience, particularly for mobile-first consumers.

Looking forward, generative artificial intelligence is expected to further enhance live commerce by offering real-time translation and round-the-clock livestreams, expanding market reach. This initiative underscores DBS’s commitment to helping businesses adapt to digital trends and seize new growth opportunities.
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HSBC Life Singapore has unveiled enhanced versions of three life insurance products—HSBC Life Diamond Prestige IUL II, HSBC Life Emerald Legacy Life III, and HSBC Life Goal Builder II—aimed at supporting the complex wealth planning needs of Singapore’s affluent and high-net-worth (HNW) individuals. These enhancements focus on long-term financial protection, intergenerational wealth transfer, and capital preservation.

The enhancements come as Singapore’s HNW population is projected to grow by over 15% between 2023 and 2028, according to Knight Frank’s 2024 Wealth Report. Ouling Lu, Chief Product Proposition Officer at HSBC Life Singapore, highlighted the importance of these solutions, stating, “Affluent and high-net-worth individuals and families often have cross-border assets and complex, multi-generational wealth needs.”

The HSBC Life Diamond Prestige IUL II now includes three new index options alongside the S&P 500, offering greater portfolio diversification. The HSBC Life Emerald Legacy Life III provides flexible payment terms and death benefit payout options, supporting estate planning. Meanwhile, the HSBC Life Goal Builder II, available exclusively through HSBC’s Wealth and Personal Banking channel, offers an increased welcome bonus of up to 55%, encouraging regular savings for goals like retirement and children’s education.

These product enhancements are part of HSBC Life’s broader integrated wealth and protection strategy, which also includes the recent launch of its first Health and Wellness Centre at The Star Vista. As Singapore’s affluent population continues to grow, these solutions aim to provide stability and predictability in wealth management.
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The Ascott Limited, a lodging business unit of CapitaLand Investment, is significantly expanding its global resort footprint with 11 new signings in the past 10 months. This expansion, achieved through management and franchise agreements, brings Ascott’s resort portfolio to approximately 50 properties worldwide, reflecting a strategic focus on the burgeoning leisure travel sector.

Ascott’s multi-typology brand strategy is at the heart of this expansion, adapting well-known brands such as Ascott, Citadines, and Oakwood for resort settings. Recent signings include properties in popular destinations like Phuket, Bali, and Phu Quoc, as well as emerging hotspots such as Cam Ranh and Sam Son in Vietnam. This strategic move aims to capitalise on the projected growth in global leisure travel, which is expected to triple to $15 trillion by 2040.

Serena Lim, Chief Growth Officer at Ascott, highlighted the appeal of their flex-hybrid model, which optimises returns by catering to both short and extended stays. “Owners are drawn to our model, which aligns the right brand and format to each resort setting, enabling differentiated guest experiences,” she said.

The expansion also strengthens Ascott’s presence in Vietnam, with new developments like the Lasong Hotel & Villas Sam Son and Citadines Selavia Phu Quoc. These properties offer a range of amenities, from boutique rooms and private villas to spa facilities and event spaces, enhancing the leisure experience for guests.

Ascott’s strategy not only aims to meet the rising demand for experiential stays but also leverages its Ascott Star Rewards programme to deepen member engagement and drive cross-destination travel. Ascott’s Chief Commercial Officer, Tan Bee Leng, noted that the expansion “unlocks a world of leisure-led experiences,” further enriching the loyalty journey for its members.
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