Industry News

Skadden has announced the addition of Sharmistha Chakrabarti as an International Litigation and Arbitration partner in its Singapore office. Previously based in New York since 2012, Chakrabarti brings a wealth of experience in commercial and investor-state arbitrations across various industries, including telecommunications, oil and gas, and cryptocurrencies. Her move underscores Skadden’s ongoing commitment to expanding its presence in the Asia region.

Chakrabarti, a registered foreign lawyer in Singapore, is admitted in India, New York, and as a solicitor in England and Wales. Her expertise extends beyond contentious matters, offering strategic advice on transaction structuring, risk assessment, and dispute resolution. “Sharmistha’s relocation to our Singapore office reflects the Firm’s dedication to our Asia Pacific clients,” said Rajeev Duggal, head of Skadden’s Singapore office.

Her appointment follows the recent addition of Friven Yeoh as head of Skadden’s International Litigation and Arbitration Group in Asia. Yeoh praised Chakrabarti’s “exceptional advocacy skills and strategic acumen that spans jurisdictions,” highlighting her contributions to the firm’s practice.

Chakrabarti’s accolades include recognition in Benchmark Litigation’s 2024 40 and Under list and Lawdragon’s 500 Leading Global Litigators List. She regularly engages in speaking events in New York, Singapore, and India on topics like insolvency and arbitration.

Chakrabarti expressed enthusiasm about her new role, stating, “This move represents an exciting opportunity to deepen my engagement with clients and colleagues across Asia and other key jurisdictions.” Her presence is expected to further bolster Skadden’s dynamic practice in the region.
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Xiaomi has unveiled the Redmi 15 5G in Singapore, featuring a robust 7000mAh battery, a large 6.9″ FHD+ display, and a suite of AI-powered tools. The smartphone is designed to provide users with extended battery life, immersive viewing, and creative capabilities, all for $182 (SGD249).

The Redmi 15 5G boasts Xiaomi’s largest battery to date, capable of lasting up to two days on a single charge. It supports 33W fast charging and 18W reverse charging, ensuring users remain connected throughout the day. The device’s 6.9″ display offers a 144Hz refresh rate and TÜV Rheinland certifications, promising a comfortable viewing experience.

Equipped with a 50MP AI dual camera system, the Redmi 15 5G includes features like AI Erase and Dynamic shots, enhancing users’ photography options. The smartphone also delivers high-quality audio with Hi-Res Audio and Dolby Atmos® support.

Running on Xiaomi HyperOS 2, the device integrates intelligent features such as Circle to Search and Google Gemini, facilitating a seamless user experience. The Redmi 15 5G is available in Ripple Green, Titan Grey, and Midnight Black, with 8GB RAM and 256GB storage, expandable up to 2TB.

Available through mi.com, Shopee, Lazada, and authorised retailers, the Redmi 15 5G combines endurance, style, and advanced technology, catering to everyday demands.
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Neo Smiles Dental Studio is celebrating its 10th anniversary, marking a decade of growth from a one-chair practice to a multi-branch provider of specialist orthodontic care in Singapore. With clinics in Bedok, Serangoon, and Bishan, Neo Smiles offers flexible appointment hours and structured treatment options to cater to students, working adults, and families.

Originally established to provide affordable orthodontic care in the heartlands, Neo Smiles has expanded its team and facilities to meet increasing demand. The practice now operates as a specialist orthodontic clinic chain, offering a comprehensive range of services including traditional braces, Damon self-ligating systems, Invisalign, and oral surgery procedures. The clinic has been recognised as an Invisalign Diamond Tier Practice, supported by advanced technology such as iTero Lumina 3D intraoral scanners.

Dr Neo Bijuan, Clinical Director at Neo Smiles, stated, “When we started Neo Smiles, our goal was to provide accessible specialist care without requiring patients to travel into the city. Ten years on, we remain focused on bringing structured, reliable care to neighbourhoods where it’s needed most.”

Throughout its journey, Neo Smiles has faced challenges, including staffing disruptions during the COVID-19 pandemic. In 2023, the clinic relocated its Kovan branch to Serangoon Central, enhancing accessibility for patients. Embracing digital advancements, Neo Smiles utilises intraoral scanners and CBCT imaging for precise diagnostics and treatment planning.

Looking ahead, Neo Smiles aims to further improve access to specialist orthodontic care, offering student braces packages, flexible payment options, and financial assistance. As it enters its 11th year, the clinic remains committed to its founding purpose of providing accessible, structured treatment whilst prioritising patient experience.
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The Singapore National Eye Centre (SNEC) and the OneSight EssilorLuxottica Foundation have joined forces to improve access to vision care for patients with low vision, just in time for Singapore’s SG60 celebrations. This partnership allows eligible patients to collect their prescribed eyewear directly from the Spectacle Hut store at SingHealth Campus, simplifying the process from prescription to pickup.

The initiative, which integrates dispensing support into the vision care pathway, aims to close critical gaps in the delivery of specialised eyewear. The OneSight EssilorLuxottica Foundation has contributed 600 pairs of spectacles, including 400 pairs of high-plus reading glasses and 200 pairs of ophthalmic frames, to expand availability and offer patients a wider range of options. High-plus reading glasses provide enhanced magnification, enabling low vision patients to perform daily activities more comfortably.

Patricia Koh, Head of the OneSight EssilorLuxottica Foundation Southeast Asia, Japan, and Korea, stated, “This initiative represents a new kind of coordination between clinical care and retail expertise.” Lisa Ong, Head of Allied Health at SNEC, added, “This collaboration affords greater convenience to our low vision patients who often already have challenges getting around.”

This partnership reflects Singapore’s leadership in eye care innovation and aligns with the national SG60 theme, “Building Our Singapore Together.” With an ageing population and increasing demand for rehabilitation services, this collaboration offers a glimpse into the future of more connected, community-responsive healthcare.
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Mondrian Singapore Duxton has announced the appointment of Stephen Day as its new Music Director, a move that aims to enhance the hotel’s cultural and nightlife offerings. Known for his influential role in Singapore’s music and nightlife scene, Day will oversee the sonic identity of the hotel and its signature cocktail bar, Jungle Ballroom. His appointment is set to bolster Mondrian’s commitment to creativity and community engagement.

Day brings over two decades of experience as a DJ, producer, and promoter, having worked with iconic venues such as Ministry of Sound, CE LA VI, and Kilo Lounge. His expertise in house, disco, and soulful underground rhythms will be pivotal in crafting immersive soundscapes for both hotel guests and nightlife patrons. “Mondrian is a platform for creative energy, and I am excited to be part of a community that thrives on new perspectives and creativity,” Day stated.

The appointment is part of Mondrian Singapore’s broader strategy to expand its cultural programming across art, fashion, food, and music. By integrating Day’s globally informed perspective, the hotel aims to deliver genre-pushing nightlife experiences that blur the lines between hospitality and culture. This development signals a new chapter for Mondrian Singapore Duxton, promising to create unforgettable memories and foster community through music.
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Singapore’s banking sector is adopting a cautious stance for the remainder of 2025, as revealed in CGS International’s latest Q2 results briefing. DBS Group and United Overseas Bank (UOB) both reported mixed outcomes, with DBS showing resilience in net interest income (NII) despite a 7 basis point compression in net interest margin (NIM) to 2.05%. Meanwhile, UOB’s NIM fell by 9 basis points to 1.91%, slightly below expectations.

DBS’s Q2 net profit was bolstered by lower provisions, with a core net profit of S$2.82 billion, a 1% year-on-year increase. The bank’s management highlighted a decoupling between the US Federal Reserve’s rates and local rates, impacting forecasts. DBS holds S$90 billion in floating-rate assets, and every 1 basis point change could affect NII by S$5 million. Despite this, strong deposit inflows in July suggest potential for NII growth through strategic deployment into loans and non-loan assets.

UOB, on the other hand, is focusing on managing its general provisions, with a specific provision of 32 basis points linked to a single US commercial real estate account. The bank’s Q2 net profit of S$1.34 billion fell short of expectations, attributed partly to a change in accounting policy affecting joint ventures and associates. UOB has revised its full-year guidance, lowering expectations for loan and fee income growth.

The sector faces potential risks, including increased loan loss provisions and slower loan growth in the second half of 2025. However, DBS remains a top pick for its dividend yield visibility from 2025 to 2027. As the year progresses, banks will need to navigate these challenges whilst capitalising on liquidity inflows to sustain growth.
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ICH Group has emerged as a pivotal investor in the recent Initial Public Offerings (IPOs) of Lum Chang Creations, InfoTech, and Goodwill Entertainment on the Singapore Exchange (SGX) Group. This strategic move marks a resurgence in local listings after a two-year lull and underscores ICH’s commitment to invigorating Singapore’s small and mid-cap market. Since its founding in 2000, ICH has advised and invested in over 200 SGX-listed companies, deploying more than $1 billion into high-growth sectors such as technology, healthcare, and sustainability.

The group’s integrated platform—comprising ICH Asset Management, ADDX, and ICAPITAL—serves as a comprehensive solution for businesses at various stages of their capital journey. This approach has been instrumental in bridging local capital gaps and attracting global investors committed to Singapore’s long-term equity market vision. “Our partnerships with foreign companies, coupled with our local market expertise, allow us to be an effective bridge for inbound capital,” said Vincent Toe, co-founder of ICH Group.

ICH’s unique model combines advisory, capital raising, and long-term partnerships, supporting companies from early-stage rounds to post-listing strategies. Notably, ICH played a crucial role in the strategic spinoff of Yangzijiang Financial, enhancing shareholder value and positioning both entities for accelerated growth.

Additionally, ICH is expanding its cross-border capital capabilities, acting as a gateway for Chinese institutional capital into Southeast Asia through the Qualified Domestic Limited Partner (QDLP) programme. This initiative is particularly valuable as global capital flows diversify towards Asia. “Our QDLP partners see a generational growth opportunity in ASEAN’s digital and sustainable economies,” Toe added.

As geopolitical and regulatory challenges arise in other regions, SGX is becoming an attractive platform for international issuers, particularly in sectors like new energy and biotechnology. ICH aims to prepare these companies for international listing requirements, ensuring their long-term success as public entities.
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The Ascott Limited, a subsidiary of CapitaLand Investment, has been chosen by Coronade Properties to manage the hotel component of the Coronation Square development in Johor Bahru. This strategic location within the Ibrahim International Business District (IIBD) and the Johor-Singapore Special Economic Zone (JS-SEZ) will be directly linked to the upcoming Rapid Transit System (RTS) Link, enhancing cross-border accessibility.

This agreement, signed today in Singapore, marks the first major hospitality collaboration since the historic JS-SEZ agreement between Malaysia and Singapore in January 2025. The project introduces the premier Ascott brand to Johor Bahru, expanding its presence in Malaysia to six properties, with others located in Kuala Lumpur and Penang.

Ascott Coronation Square Johor Bahru, set to open in the second half of 2029, will feature 207 rooms and cater to both leisure and business travellers. The hotel will offer comprehensive facilities, including a restaurant, swimming pool, fitness centre, and meeting rooms. It aims to provide a sanctuary of fine living with Ascott’s signature touches and curated experiences.

Coronation Square, a RM5 billion ($___) development by Coronade Properties, is designed to transform Johor Bahru into a world-class metropolis. It will include a hotel, medical, office, and residential components, as well as a 1.2 million-square-foot mall. The development will be directly connected to the RTS station at Bukit Chagar, enhancing seamless cross-border travel.

Datin Paduka Alinah Ahmad of Coronade Properties expressed pride in partnering with Ascott, highlighting the project’s role as a gateway for business and leisure travellers. Wong Kar Ling of Ascott emphasised the strategic importance of the JS-SEZ and RTS in driving Johor Bahru’s growth, reinforcing Ascott’s commitment to Malaysia’s hospitality landscape.
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Beng Kuang Marine Limited has announced a revenue of S$50.79 million for the first half of 2025, with a gross profit of S$19.42 million. The company generated S$10.01 million in net cash from operating activities, demonstrating resilience despite foreign exchange losses of S$1.19 million. The group’s profit attributable to shareholders stood at S$2.91 million, slightly down from S$3.06 million in the same period last year, excluding a one-time gain.

The group’s transition to an asset-light, service-oriented business model has been pivotal, with its Infrastructure Engineering (IE) division contributing S$41.17 million and the Corrosion Prevention (CP) division adding S$9.59 million to the revenue. The IE division’s focus on floating production platforms and offshore services has been a significant revenue driver, despite some project delays.

CEO Yong Jiunn Run expressed cautious optimism, stating, “Despite a slower start to the year and persistent headwinds from a weaker USD, we remain cautiously optimistic on our overall performance.” He emphasised the company’s focus on cash flow, profitability, and sustainability, which supports their strategic positioning in the offshore and marine sectors.

The group’s gross profit margin improved to 38.2% from 35.5% in the previous year, attributed to enhanced cost control and productivity improvements. Looking forward, Beng Kuang aims to sustain its business momentum and capture emerging opportunities in the offshore and marine industries.
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SIA Engineering Company Limited (SIAEC), a leading aircraft maintenance, repair, and overhaul (MRO) provider in the Asia-Pacific region, is set to expand its operations in the Philippines. Its local subsidiary, SIA Engineering (Philippines) Corporation (SIAEP), will commence operations at the Ninoy Aquino International Airport (NAIA) by September 2025. This move underscores SIAEP’s confidence in NAIA’s ongoing improvements and its potential as a key aviation hub.

SIAEP, already operating out of Clark, is majority-owned by the Singapore Airlines Group and supports many of the world’s top airlines. The expansion to NAIA is expected to benefit local carriers and the broader aviation industry by creating opportunities for skills development, knowledge transfer, and job creation in aircraft maintenance.

Ramon S. Ang, President and CEO of New NAIA Infra Corp. (NNIC), expressed enthusiasm about the development, stating, “This is a big boost for NAIA and for Philippine aviation. We welcome SIAEP and look forward to working closely with them to improve support for airlines operating here.”

The presence of SIAEP at NAIA is anticipated to enhance aircraft turnaround times and technical support, benefiting both airlines and passengers. Additionally, other major MRO companies have shown interest in establishing operations at NAIA, promising more choices and improved service options for airlines.

“This is part of our broader push to raise NAIA’s standards and make it a better, more reliable gateway not only for travellers, but for the aviation industry as a whole,” Ang added.
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