Industry News

Banyan Group, a global hospitality company, has expanded its presence in Eastern China with the opening of Angsana Zhoushan and Homm Wenzhou Nanxijiang in Zhejiang Province. This expansion brings the Group’s total to 36 hotels in China, marking its 20th anniversary in the country. The Group aims to reach a significant milestone in November with the opening of its 100th global property, the Mandai Rainforest Resort in Singapore.

Angsana Zhoushan, located in the scenic “city of a thousand islands,” offers guests a blend of cultural immersion and natural beauty. The resort features 222 guestrooms and villas, many with private onsen pools, and a range of wellness facilities, including the award-winning Angsana Spa. Guests can enjoy Cantonese cuisine at Chun Feng Restaurant and participate in cultural experiences like fish basket weaving and incense card workshops.

Homm Wenzhou Nanxijiang, situated between the Yandang Mountains and the Nanxi River, provides a tranquil retreat with 100 rooms and suites. The hotel boasts a hot spring complex with 26 pools and offers activities such as mountain hiking and riverside cycling. Dining options include Zhejiang-inspired dishes at Nan Xiang Restaurant and cocktails at Star Bar.

Philip Ding, Senior Vice President of Hotel Operations & Business Development, China, stated, “These openings build on our growth momentum in China as we mark our 20-year anniversary and approach our 100th hotel globally.” The new properties reflect Banyan Group’s commitment to sustainable hospitality and cultural celebration.
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Singapore’s Minister for Trade and Industry, Tan See Leng, delivered a keynote speech at the 9th Singapore Regional Business Forum on 19 August 2025 in Bangkok, Thailand. The event marked the 60th anniversary of diplomatic relations between Singapore and Thailand, with a focus on strengthening business resilience and seizing new opportunities. The forum highlighted the robust trade relationship between the two nations, with bilateral trade reaching over S$44b last year, a 6.4% increase from the previous year.

The partnership between Singapore and Thailand is not only reflected in trade figures but also in collaborative ventures. For instance, Keppel and BCPG Public Company Limited have developed a district cooling system for Bangkok’s Samyan Smart City. Additionally, Singapore-based CoNEX Healthcare’s AI-powered patient monitoring solution, PreSAGE, is being utilised in Thai hospitals to enhance elderly care.

The forum also addressed the challenges posed by geopolitical tensions, climate risks, and technological disruptions. Tan emphasised the importance of regional collaboration, particularly within ASEAN, which is projected to grow at 4.7% this year. ASEAN’s digital economy is expected to surpass $1t (US$1t) in gross transaction value by 2025, presenting significant opportunities for businesses.

Tan urged businesses to explore opportunities in trade, digital collaboration, and sustainability. Notably, Singapore tech start-up Voltality has partnered with Thailand’s WHA Group to expand electric vehicle infrastructure. Furthermore, Tan announced an upcoming Implementation Agreement with Thailand under the Paris Agreement, marking a significant milestone in bilateral climate cooperation.
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The Competition and Consumer Commission of Singapore (CCCS) has given the green light for Typewriter Ascend Ltd’s acquisition of Global Sea Containers Limited, also known as Seaco. Following a thorough review initiated on 16 July 2025, CCCS concluded that the merger would not infringe upon the Competition Act 2004, which prohibits mergers that could significantly reduce competition in Singapore.

The assessment involved a public consultation and feedback from stakeholders, including competitors and customers, with no significant concerns raised. CCCS found that the two companies are not each other’s closest competitors and that the market for intermodal containers, including dry box and refrigerated shipping containers, remains competitive. Several factors contributed to this conclusion, such as the presence of numerous alternative suppliers, low barriers to entry, and the ability of customers to switch suppliers easily.

Additionally, the merged entity is expected to compete more effectively with larger suppliers, and customers are anticipated to retain bargaining power. Further details on the decision will be available on CCCS’s Public Register.

The CCCS, a statutory board under the Ministry of Trade and Industry, aims to ensure competitive markets and protect consumer interests in Singapore.
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Singapore has signed an implementation agreement with Thailand to collaborate on carbon credits, marking a significant step in regional environmental initiatives. The agreement was formalised during the 9th Singapore Regional Business Forum held on 19 August 2025 at the Ritz-Carlton in Bangkok, Thailand. This partnership aims to facilitate the trading of carbon credits between the two nations, promoting sustainable practices and reducing carbon emissions.

The collaboration is expected to bolster both countries’ commitments to achieving their climate goals by leveraging market-based mechanisms. Carbon credits allow countries or companies to offset their emissions by investing in environmental projects that reduce carbon dioxide in the atmosphere. This agreement is anticipated to create new opportunities for businesses in both Singapore and Thailand to engage in sustainable practices.

The partnership is part of a broader strategy to enhance regional cooperation in environmental sustainability. By facilitating the exchange of carbon credits, both countries aim to incentivise the reduction of greenhouse gas emissions and support the transition to a low-carbon economy.

Looking ahead, the agreement is expected to pave the way for further regional collaborations in environmental sustainability, setting a precedent for other nations to follow suit in the fight against climate change.
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The 2025 OilChem APAC Oil and Gas Conference is set to take place on 8 September 2025 at Pan Pacific Singapore, promising a comprehensive exploration of the energy sector’s future. Co-organised by Nanhua Singapore and with Gulf Intelligence as the media partner, the event will gather industry leaders to share their expertise on topics including natural gas, refined products, and liquefied petroleum gas (LPG) in the Chinese market.

Attendees will gain exclusive insights from OilChem’s proprietary data analytics and hear on-the-ground perspectives on China’s energy policies and their global implications. The conference will also present outlooks for 2025–2030 on refined oil products, LPG, and natural gas.

The event will feature speakers from prominent organisations such as CME Group, Mysteel OilChem, Nanhua Singapore, and Dalian Commodity Exchange. These sessions aim to foster networking and brainstorming among participants, enhancing industry engagement and collaboration.

Admission to the conference is free, but registration is required by 22 August 2025. Interested parties can view the full agenda and secure their seats through the event’s official registration page. This gathering is poised to be a pivotal moment for stakeholders in the oil and gas industry, offering valuable insights and opportunities for strategic planning.
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Millennium Hotels and Resorts (MHR) has been named Singapore’s most valuable hotel brand for the second consecutive year, according to the Brand Finance Hotels 50 2025 global ranking. The brand, valued at $421 million, climbed three spots to 31st globally, highlighting its leadership in the hospitality sector. Together with its sister brand Copthorne, which holds a brand value of $223 m, the combined value of the two brands stands at $644m

This accolade underscores MHR’s strategic transformation, driven by innovation, digital enablement, and guest-centric growth. Key initiatives include the introduction of AI-powered assistants AVA and Ask Millie, achieving full Global Sustainable Tourism Council (GSTC) certification across all Singapore hotels, and revamping the MyMillennium loyalty programme. The brand has also expanded its lifestyle offerings with the recent launch of M Social Resort Penang and plans to open M Social Hotel New York Downtown in October and M Social Hotel Sunnyvale, Florida in Q1 2026.

Kwek Leng Beng, Executive Chairman of City Developments Limited, emphasised the importance of brand strength in driving sustainable growth and differentiating in a competitive market.

With over 145 hotels in more than 80 destinations, MHR aims to expand to 500 hotels globally through strategic partnerships and market-driven growth.
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The Singapore Exchange (SGX) has reported a significant surge in trading activity and net institutional inflows for mid and small cap stocks since May. More than 80% of nearly 120 non-index stocks have experienced increased trading turnover, with Oxley Holdings leading the charge. Oxley’s average daily turnover (ADT) jumped to $0.583m, marking a 10.6-fold increase since late May, whilst its year-to-date average reached $0.221m.

The FTSE ST Mid & Small Cap Index has generated a 14% total return since the end of May. Although the index comprises 74 stocks, there are over 190 stocks listed on SGX within this market capitalisation range. Notably, UOB-Kay Hian Holdings recorded the highest net institutional inflow of $23.09m, with its price-to-earnings (P/E) ratio rising from 7× to 10×. CSE Global followed with $16.1m in inflows and a P/E increase from 11× to 16×.

The non-index stocks have attracted over $100m in net institutional inflows since May. The top 10 non-index stocks with the highest proportional uptick in ADT include PSC Corporation and Soilbuild Construction, which have seen notable growth in trading activity.

The SGX update highlights the dynamic nature of mid and small cap stocks beyond the index constituents, showcasing their potential for significant returns and institutional interest. As these stocks continue to gain traction, they may present attractive opportunities for investors looking to diversify their portfolios. The full-year results for Oxley Holdings are expected by the end of August, which could further impact trading activity and investor interest.
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Agridence Grp Holdings Pte Ltd, a Singapore-based leader in digital agricommodity supply chain solutions, has acquired farmer connect, a European compliance and traceability platform. This strategic move, announced on 19 August 2025, aims to create a unified platform that aids agribusinesses in meeting regulatory compliance and supply chain transparency requirements across multiple commodities. The acquisition is bolstered by Agridence’s recent investment, enhancing its capacity to support global agricultural supply chains.

The merger combines Agridence’s strong upstream presence in Asia with farmer connect’s expertise in downstream buyer compliance in Europe. Gerald Tan, CEO and Founder of Agridence, stated, “This augmented competency benefits Agridence’s customers by providing access to a well-established EU presence and gives farmer connect’s customers sourcing access in Asia.”

The newly combined platform offers several key features:
– Compliance tools, including polygon-level farm mapping and deforestation risk monitoring.
– End-to-end visibility, ensuring data tracking from producers to export.
– Multi-commodity coverage, supporting coffee, cocoa, rubber, and palm oil.
– Automated ESG reporting to facilitate regulatory and market reporting.

The acquisition promises uninterrupted service for existing farmer connect customers whilst expanding platform capabilities and market reach. This integration aims to enhance compliance and traceability solutions, helping companies navigate evolving regulatory and sustainability challenges.
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Ping Identity has introduced its Just-in-time Privileged Access capabilities within the Ping Identity Platform, aiming to address the growing complexity of cloud permissions as enterprises adopt multi-cloud strategies. This new feature integrates Access Management, Identity Governance and Administration, and Privileged Access Management into a single platform, providing a comprehensive solution for managing digital environments.

Peter Barker, Chief Product Officer at Ping Identity, highlighted the limitations of traditional vault-based solutions, stating, “With the addition of PAM capabilities, we’re empowering organisations to adopt just-in-time privileged access and solve a broader set of identity and security challenges – all within a unified platform.”

The new capabilities allow end-users to request time-bound access to various cloud environments and critical resources, adhering to zero trust best practices. Additionally, the platform supports passwordless access, ensuring compliance with regulations such as GDPR and HIPAA through session recordings and audit logs. It also offers hybrid infrastructure support with context-aware policies and real-time authorisation.

Ping Identity’s CEO, Andre Durand, noted the significance of this development, stating, “Ping is now uniquely positioned to equip organisations with next-generation privileged access capabilities—protecting access to cloud infrastructure and securing the full spectrum of identities from a single, trusted platform.”

These advancements are facilitated by Ping Identity’s acquisition of Procyon, a cloud-native start-up, which was founded to enhance privileged access security for both cloud and on-premises infrastructure. The new capabilities will be available through PingOne Privilege, further strengthening Ping Identity’s position in the digital identity security market.
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The Starlight International Youth Basketball Open (SIYBO) 2025 wrapped up after three days of intense competition at Bukit Canberra Sport Hall, Singapore, from 15 to 17 August. Organised by Touchdown Sports, the event featured 46 teams from 10 countries, including the USA, Japan, and China, highlighting the diversity and talent of young athletes in the region.

Now in its third year, SIYBO has become a key event in the youth basketball calendar, offering boys and girls across seven categories the chance to shine on an international stage. The opening ceremony, with its vibrant dragon dance and team parade, set the tone for a weekend filled with excitement and cultural celebration. A surprise video message from basketball legend Yao Ming added to the event’s prestige, delighting both players and spectators.

The tournament was not just about competition; it fostered camaraderie and community spirit. Families filled the stands with enthusiastic support, and players forged friendships across borders. Participants received goodie bags and exclusive merchandise, ensuring they left with lasting memories.

As SIYBO 2025 concludes, organisers are already planning for SIYBO 2026, scheduled for 14 to 16 August next year, aiming to expand its international reach and impact. The list of winners from this year’s event includes AirOne, J-Ballers, and ABA, among others, with standout performances from MVPs like Jayden Immanuel Bodhi and Demi Dawodu.
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