Industry News

Star Living, a prominent home furnishing brand in Singapore, has announced its foray into the electronics market with a new product line debuting this May. The initiative aims to transform Star Living into a comprehensive shopping destination for modern homeowners by offering a curated selection of everyday appliances and smart home essentials.

The new electronics range is available at Star Living showrooms in Sungei Kadut, Tampines, and Serangoon North. It includes Wells water and air purifiers, Roborock robot vacuums, and Deerma appliances such as dehumidifiers, air fryers, kettles, and hair dryers. The selection is designed to balance functionality, design synergy, and trusted brand reputation.

Koh Hong Jie, Group Retail Manager at Star Living, explained the strategic move: “We saw a growing need among new homeowners for a convenient shopping experience. Many are furnishing their homes and buying electronic products at the same time. Expanding our offerings was a natural step.”

Customers can experience the products firsthand, with opportunities to test robot vacuums under actual furniture and see how small appliances fit into different room layouts. For Wells products, Star Living will coordinate directly with Wells for fulfilment and installation, ensuring a seamless customer experience. Roborock and Deerma products are available for immediate purchase, offering instant gratification and reliable after-sales service.

This launch marks the beginning of Star Living’s journey into broader lifestyle categories, with plans to integrate smart living and furniture design further. The brand will assess the success of this initiative through showroom engagement, sales metrics, and customer feedback.
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Standard Chartered Bank, the Main Club Partner of Liverpool Football Club (LFC) since 2010, has provided over 300 corporate and affluent clients with exclusive experiences during the final matches of the Premier League season. This initiative, which included clients from Singapore, highlights the bank’s commitment to offering unique opportunities through its global partnerships.

During the match against Arsenal FC on 11 May, clients enjoyed pitch-side experiences, with one client’s child serving as a mascot. Additionally, five clients, accompanied by James Lye, Global and Singapore International Banking Head, took penalties against LFC legend Chris Kirkland. Patrick Lee, CEO of Standard Chartered Bank in Singapore and ASEAN, remarked, “Through our long-standing partnership with the Club, we have been able to create extraordinary experiences for our clients such as witnessing world-class football at Anfield.”

The partnership, one of the longest-running in Premier League history, will also see clients attending the season finale against Crystal Palace on 25 May, where they will witness Liverpool lifting the trophy for the 20th time. Beyond football, the collaboration emphasises community engagement, with initiatives like the “Futuremakers” programme and “Play On” encouraging education and sports participation among young people.

This enduring partnership underscores Standard Chartered’s strategy to leverage its global connections for client engagement, offering distinctive value and experiences that align with its commitment to transforming ambition into opportunity.
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CHAGEE, whose APAC office is headquartered in Singapore, has unveiled a new name for its bestselling drink, now called BOYA Jasmine Green Milk Tea, in celebration of International Tea Day on 21 May. This rebranding not only honours the drink’s immense popularity, with over 600 million cups sold annually, but also highlights the craftsmanship and cultural significance behind each cup.

The name BOYA is inspired by the Chinese legend of Bo Ya and Ziqi, symbolising a deep connection and understanding. This reflects CHAGEE’s mission to create meaningful experiences through tea. The drink is crafted using a traditional multi-round scenting method, where fresh jasmine blossoms are layered over green tea leaves, allowing the leaves to absorb the natural aroma without artificial additives.

BOYA combines two premium teas: Yunnan high-mountain leaves, known for their depth, and Fujian Da Bai Hao, prized for clarity. Each batch is meticulously handpicked, ensuring the highest quality. Eugene Lee, Chief Marketing Officer of CHAGEE APAC, stated, “BOYA holds special significance to us. It’s more than just our bestselling drink; it reflects what CHAGEE stands for.”

This renaming marks a significant year for CHAGEE’s international expansion, with successful entries into Indonesia and the United States. As the brand continues to grow, BOYA is set to lead as a symbol of CHAGEE’s evolving global identity, bridging heritage with modernity.
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Banyan Group Residences is set to present its most luxurious Phuket homes at a sales exhibition in Singapore from 31 May to 1 June. The event, held at the Fairmont Hotel, will feature the Banyan Tree Beach Residences Oceanus, a collection of ultra-luxury condos located in the coveted Bang Tao district. This exhibition comes as international interest in Phuket’s luxury real estate market surges, with Singapore accounting for 6% of the group’s sales.

The Banyan Tree Beach Residences Oceanus, situated on the beachfront of Laguna Phuket, offers 16 four-bedroom units with sizes ranging from 416 to 768 square metres. These residences are crafted with high-quality materials and are expected to set new price records on the island. Additionally, the exhibition will highlight other projects, including the wellness-focused Residences at Garrya Phuket and the contemporary Laguna Lake Residences Aster.

Banyan Group, led by Singaporean entrepreneur Ho Kwong Ping, has been instrumental in transforming Phuket into a prime destination for second homes. Stuart Reading, Managing Director of Banyan Group Residences, noted the increasing demand for Phuket homes due to factors like urban flight and the island’s appeal as a year-round tropical haven. He emphasised that high-quality properties in Phuket remain more affordable than in markets like Hong Kong and Singapore.

The group plans to release $1b worth of new luxury real estate in Phuket over the next few years, with 700 units currently under development. The Laguna Advantage initiative offers new homeowners services such as management and education privileges, enhancing the appeal of living in Phuket.
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Dubai’s real estate market is experiencing a significant influx of investment from East Asian high-net-worth individuals (HNWIs), according to Knight Frank’s latest report, *Destination Dubai 2025*. The report reveals that $10.3b of private capital from East Asia, including China, Hong Kong, and Singapore, is targeting Dubai’s residential sector, making it the world’s busiest market for $10m+ homes for the second consecutive year.

The report highlights that 74% of East Asian HNWIs are interested in purchasing land in Dubai, with Chinese buyers showing the highest interest at 61%. The demand for branded homes as holiday or second homes is also notable, with 33% of East Asian buyers expressing interest. Faisal Durrani, Head of Research at Knight Frank MENA, noted, “The strongest appetite for a real estate purchase in the UAE comes from those with the greatest wealth.”

In 2024, Dubai’s residential market saw $100b in investments, with residential prices rising by 19% year-on-year. The emirate recorded 435 sales of homes valued at over $10m, nearly matching the combined figures of London and New York. Dubai Marina, Dubai Hills Estate, and Emirates Hills remain the top neighbourhoods for HNWIs.

As the market continues to thrive, Knight Frank’s survey indicates that 71% of global HNWIs prefer Dubai for real estate acquisitions, with the UAE’s residential sector being the top target. The report underscores Dubai’s appeal as a safe haven for global wealth, with the city’s property market maturing rapidly and attracting genuine end-users rather than speculative buyers.
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Glow Festival by Prudential 2025 is set to transform Marina Bay Sands Event Plaza from 5 to 13 July, marking a significant evolution in Singapore’s wellness scene. This year’s theme, “Dynamic Vibes,” aims to reimagine wellness as a multisensory experience, incorporating mental health, movement, music, and recovery. The festival will feature Singapore’s first 60km ultra marathon, highlighting mental health awareness.

The festival, now in its fourth edition, will serve as the launchpad for Prudential Singapore’s new initiative, Every Body Club, which encourages individuals to manage their physical, emotional, and financial wellbeing. Belinda Tan, Head of Marketing and Events at Prudential Singapore, emphasised the company’s commitment to holistic health, stating, “We are committed to empowering individuals to proactively take care of their health.”

The event will feature a range of activities, including workshops on mental health, discussions on women’s health, and sessions led by global wellness leaders. Notable participants include yoga master Dylan Werner and elite sprinter Olivia May. The festival will also host “Sunrise Rave Runs,” blending cardio with music for a unique social experience.

The SG60 ultra marathon, presented with Noble, commemorates Singapore’s 60th birthday and aims to raise awareness about mental health, with proceeds supporting the Samaritans of Singapore. The festival’s innovative approach to wellness and community engagement underscores Singapore’s position as a leading urban wellness destination. Tickets are now available, with early bird options offering exclusive perks.
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Elyon Family Clinic & Surgery in Singapore has unveiled two new STD testing packages, the STI7 Multiplex Panel and the Genital Ulcer Assay, to enhance early detection and clinical outcomes in sexual health.

This initiative responds to increasing awareness of sexually transmitted diseases (STDs) and shifting infection patterns in Singapore and Asia. The STI7 Multiplex Panel offers simultaneous testing for seven common and emerging STIs, including chlamydia and gonorrhoea, in a single lab-based analysis. Meanwhile, the Genital Ulcer Assay targets pathogens causing ulcerative STDs like syphilis and herpes.

The introduction of these packages is significant as regional medical reports highlight a rise in infections such as Mycoplasma genitalium and Hepatitis C virus, which often present with minimal or no symptoms, complicating diagnosis through traditional methods. Elyon Family Clinic, led by Dr Vincent Chia, a Harvard-trained Family Physician with over 25 years of experience, aims to provide accessible and confidential STD screening options. The clinic’s services include consultations, treatment, and preventive care, reinforcing its commitment to comprehensive sexual health offerings.

These new testing options bolster Elyon Family Clinic’s capacity to address diverse sexual health needs in Singapore, ensuring timely diagnosis and management. The clinic continues to uphold its reputation for professionalism, discretion, and evidence-based care, further solidifying its role in the local healthcare landscape.
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Thales has released its 2025 Data Threat Report, revealing that 62% of Singapore organisations consider the lack of integrity in generative AI (GenAI) as the top security risk. The report, based on a survey of over 3,100 IT and security professionals globally, highlights the challenges and opportunities posed by the rapid adoption of GenAI technologies.

The report underscores the transformative impact of AI, particularly GenAI, which relies on high-quality, sensitive data for various functions. As organisations in Singapore increasingly integrate GenAI into their operations, with 44% already doing so, concerns about data integrity, ecosystem speed, and trustworthiness have come to the forefront. Eric Hanselman, Chief Analyst at S&P Global Market Intelligence 451 Research, noted, “The fast-evolving GenAI landscape is pressuring enterprises to move quickly, sometimes at the cost of caution.”

In response to these challenges, 83% of Singapore respondents are investing in AI-specific security tools, either through new budgets or by reallocating existing resources. The report also highlights the rise in data breaches, with 51% of Singapore enterprises experiencing breaches, up from 46% last year. The most common threats include malware, phishing, and ransomware.

Additionally, the report points to growing concerns about quantum computing security risks, with key distribution vulnerabilities and future encryption compromises being significant threats. Todd Moore, Global Vice President of Data Security Products at Thales, emphasised the urgency of addressing these risks, stating, “The clock is ticking on post-quantum readiness.”

As organisations continue to adopt GenAI, the report suggests that a balance between rapid technological advancement and robust security measures is crucial to mitigate potential vulnerabilities.
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Singapore Exchange (SGX) has reported a rise in trading volumes, surpassing expectations for the second half of the financial year ending June 2025.

This increase is attributed to heightened market volatility and supportive measures from the Monetary Authority of Singapore to bolster the equity market.

The securities’ daily average traded value is projected to continue its upward trend into the financial years 2026 and 2027.

The latest data indicates that both securities turnover and derivatives volumes have exceeded previous estimates.

Analyst Shekhar Jaiswal maintains a neutral stance on SGX, with a revised target price of SGD14.10, up from S$13.60. Despite the positive trading volume trends, the year-to-date share price is believed to already reflect the potential earnings upside, supported by a reasonable forward price-to-earnings ratio.

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Savills Singapore has reported a significant rise in the average median rents for 3-bedroom units in Singapore’s prime districts. In Q1 2025, District 1 (Boat Quay/Marina/Raffles Place) saw rents increase by 8.5% to $6,750 (S$9,225), whilst District 2 (Chinatown/Tanjong Pagar) experienced a 14.3% rise to $5,850 (S$8,000). Meanwhile, District 4 (Harbourfront/Telok Blangah) saw a slight decrease of 0.6%, bringing rents to $6,000 (S$8,200).

The rental market for 1-to-5-bedroom units across all market segments also saw increases, with the Core Central Region (CCR) rising by 1.3%, the Rest of Central Region (RCR) by 1.4%, and the Outside Central Region (OCR) by 1.5%. The most popular rental types, 1-to-3-bedroom units, experienced a 2.2% increase in the CCR, whilst the RCR and OCR saw marginal rises of 0.1% and 0.2%, respectively.

George Tan, Managing Director of Livethere Residential at Savills Singapore, noted, “Leasing activities remained resilient with tenant interest continuing at a consistent pace, which reflects demand but increasingly becoming selective.” He added that the market is stabilising, with prices expected to hold steady for the rest of the year.

Alan Cheong, Executive Director of Research & Consultancy at Savills Singapore, highlighted the impact of economic uncertainty on corporate expansion plans, which may slow down hiring. He also pointed out that higher property taxes and inflationary pressures are discouraging landlords from accepting lower rental offers.

Overall, Savills expects rents to remain stable throughout 2025, with some districts potentially experiencing varied rental trajectories.
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