Industry News

Singapore’s non-oil domestic exports (NODX) experienced a robust growth of 13% in June 2025 compared to the same month last year, according to the latest data released by the Department of Statistics Singapore. This marks a significant recovery from the 3.9% decline observed in May, highlighting a positive shift in the country’s trade performance.

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Bunjang, South Korea’s leading re-commerce platform, is intensifying its efforts in Singapore, marking the second anniversary of its international platform, Global Bunjang. With a staggering 452% increase in local users over the past six months, Singapore has become one of Bunjang’s fastest-growing markets outside Korea, ranking third globally in sales. This expansion is part of Bunjang’s strategy to tap into the burgeoning K-culture enthusiasm and sustainable consumption trends in Singapore.

The platform, launched in July 2023, offers a wide array of Korean secondhand goods, including K-pop merchandise and fashion items, facilitated by advanced AI technology. “Singapore represents the perfect intersection of digital savviness, sustainability values, and a deep affinity for Korean culture,” said Jaewha Choi, CEO of Bunjang. The re-commerce market in Singapore is projected to reach $2.37 billion this year, with a 14.5% annual growth rate driven by sustainability-conscious consumers.

Bunjang’s strategic focus on Singapore is underscored by its plans to increase marketing initiatives and community engagement, aiming to attract K-culture fans and value-conscious shoppers. The platform’s success in Singapore is evident, with a repeat purchase rate exceeding 50% and high demand for K-style re-commerce items such as K-pop photocards and rare apparel.

Looking ahead, Bunjang plans to expand its regional offerings, including partnerships with local platforms and enhanced buyer protection across Asia. The company is also preparing targeted strategies for Hong Kong and Taiwan, further cementing Singapore’s role as a launchpad for its cross-border re-commerce model in the Asia Pacific region.
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Mooreast Holdings Ltd., a specialist in mooring solutions, has announced a strategic partnership with Norway-based GeoProvider AS to bolster its offshore data analysis capabilities. This collaboration aims to enhance Mooreast’s offerings in the floating offshore renewable energy sector by leveraging GeoProvider’s extensive geotechnical and geophysical database. The partnership will focus on accelerating data analysis and supporting larger, more complex projects, particularly as the floating renewable market moves towards commercialisation.

The Singapore Exchange (SGX) Catalist-listed Mooreast, known for its expertise in geotechnical and geophysical studies, will work alongside GeoProvider on offshore wind projects. GeoProvider, headquartered in Stavanger, Norway, is renowned for its geophysical data and geotechnical services, catering to global clients in offshore wind, energy exploration, and carbon capture.

Mooreast’s CEO, Eirik Ellingsen, highlighted the significance of the partnership, stating, “The agreement with GeoProvider reflects our strategy to build strong partnerships that add value to our clients and increase our capability to take on larger and more complex projects.”

In addition to this partnership, Mooreast has signed a Memorandum of Understanding (MoU) with Korea Ocean Engineering & Consultants Co., Ltd. (KOCECO). This MoU aims to foster joint business and technology collaboration in offshore mooring and seabed anchoring solutions, particularly in the rapidly developing floating offshore wind market in North Asia.

Ellingsen further commented, “The two agreements will significantly strengthen Mooreast’s global position and our commitment to our transformation to serve the renewable energy sector.”

These strategic collaborations position Mooreast to address local supply chain gaps and deliver comprehensive solutions in the offshore sector, reinforcing its role in the global renewable energy landscape.
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PropNex, Singapore’s leading real estate agency, is forecasting a promising outlook for 2025, buoyed by strong private resale and new launch volumes. The company’s CEO, Ismail Gafoor, highlighted the resilience of the market despite recent changes to the Sellers’ Stamp Duty (SSD) rates. With approximately 13,600 agents, PropNex is well-positioned to capitalise on the stable transaction volumes in both public and private residential markets, UOB Kay Hian reported.

In the private resale sector, over 2,900 homes were sold in the second quarter of 2025, adding to the 3,565 sold in the first quarter. This positions the market to potentially exceed the 14,053 homes sold in 2024. New launch sales are also on the rise, with nearly 5,430 units launched so far and an additional 7,670 units expected by the end of the year. PropNex estimates that 8,000 to 9,000 new launch units will be sold in 2025, marking a 24-39% increase year-on-year.

The company remains optimistic that the revised SSD rates will not significantly impact prices or transaction volumes. Historically, sales remained robust after similar SSD revisions, only affected by the introduction of the Total Debt Servicing Ratio in 2013.

PropNex’s financial health is strong, with a net cash position of $82m (S$112m) at the end of 2024. The company anticipates reporting a 45% year-on-year increase in revenue for the first half of 2025, driven by Singapore’s vibrant property market.

Looking ahead, PropNex expects continued strong sell-through of new property launches, which could positively impact earnings in the second half of 2025. The company maintains a “BUY” rating with a target price of $0.99 (S$1.35), reflecting confidence in its asset-light business model and potential for shareholder rewards.
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ONERHT Foundation is set to host the 8th edition of the Greening ASEAN Initiatives and Leadership (GAIL) Forum on 22 July 2025 at Suntec Singapore Convention & Exhibition Centre. The event will bring together business leaders, policymakers, and sustainability experts to discuss industry, business, and regulatory perspectives on climate change mitigation and adaptation in the ASEAN region. The forum will feature a keynote address by Low Yen Ling, Senior Minister of State for the Ministry of Culture, Community and Youth, and the Ministry of Trade and Industry.

The theme for this year’s forum is “Industry, Business, and Regulatory Perspectives on Climate Change Mitigation and Adaptation.” Attendees can expect a half-day programme filled with keynotes and discussions that address the challenges and opportunities presented by sustainability imperatives, climate regulations, and evolving business models. The event aims to foster collaboration across sectors and build capacity for lasting environmental impact.

Chng LiLing, Director of RHT GRACE Institute, emphasised the importance of sustainability in business strategy, stating, “Sustainability has moved to the centre of business strategy. It now underpins long-term value creation and corporate resilience.” Kaylee Kwok, Chairman of ONERHT Foundation, highlighted the forum’s role in equipping leaders with tools to navigate a rapidly evolving landscape.

Key highlights include a fireside chat on “The Future of Green Leadership in ASEAN,” a presentation on “Navigating ASEAN’s Green Transition: Legal and Policy Pathways,” and discussions on developing and investing in carbon markets in Asia. These sessions will feature distinguished leaders and speakers in sustainability and governance.

Since its inception in 2018, the GAIL Forum has become a pivotal platform for advancing climate resilience and sustainable business practices across ASEAN. By convening industry leaders and policymakers, the forum equips businesses with the knowledge and strategies to embed sustainability at the core of their operations.
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The Maritime and Port Authority of Singapore (MPA) is hosting the 12th International Safety@Sea Week from 15 to 18 July 2025, focusing on future maritime safety challenges. The event, themed ‘The Future of Maritime Safety: Navigating the Next Frontier’, gathers over 1,800 participants from more than 40 countries to discuss pressing issues in the maritime sector.

Senior Minister of State Murali Pillai highlighted the sector’s complex challenges, including geopolitical tensions and climate change, and emphasised the need for workforce readiness, collaboration, and technological innovation. Arsenio Dominguez, Secretary-General of the International Maritime Organisation, stressed the importance of robust safety frameworks and government-industry collaboration.

A key highlight of the week is a multi-agency chemical spill exercise off Singapore’s southern coast, involving 11 vessels and over 150 personnel. The exercise simulated a methanol spill, using drone-enabled technologies and the Maritime Digital Twin to enhance situational awareness. This initiative is part of MPA’s preparations for methanol bunkering, with 13 applications for methanol bunker supplier licences currently under evaluation.

Additionally, MPA is conducting Singapore’s first shore-to-ship drone trials in collaboration with Skyports Drone Services, TFG Marine, and CBS Ventures. These trials aim to improve efficiency and reduce safety risks in port operations. Findings will inform the development of safety protocols for future drone operations.

MPA also plans to install smart buoys equipped with environmental sensors from 2026, enhancing navigational safety through real-time data transmission. The Safety@Sea Awards were presented to companies for their contributions to maritime safety, recognising efforts in search and rescue and innovative safety solutions.
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Wave Films, Shooting Gallery Asia, and True Colour Media have announced a strategic partnership aimed at bolstering Singapore’s production infrastructure. This collaboration, led by Wave Films’ founder and managing director Jerry Koedding, seeks to address the challenges of tighter production budgets whilst maintaining high-quality standards for various media projects.

The partnership is designed to create an “infrastructure layer” that offers comprehensive production support to advertising agencies, production houses, and solo content creators. “Production budgets are getting tighter, and we need to work more closely together with different partners in the industry to stay relevant,” Koedding stated. This initiative ensures that when projects exceed the capabilities of individual entities, the necessary resources are readily available.

By combining Wave Films’ production service expertise with Shooting Gallery Asia’s extensive studio space and True Colour Media’s technical capabilities, the partnership provides a robust support system. This includes access to additional crew members, advanced equipment, and special locations, without competing for client relationships. Koedding emphasised the importance of established networks, saying, “We’ve built strong relationships with freelance crew and talent over the years. We can simply pick up the phone and call people we trust to deliver quality work.”

The collaboration aims to reinforce Singapore’s status as a production hub by offering scalable support infrastructure whilst adhering to international production standards. This unified service approach is set to benefit agencies, production houses, brands, and solo creators alike, ensuring seamless production processes across the board.
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ComfortDelGro Corporation Limited has unveiled a new training initiative in Singapore, designed to equip professional drivers with the skills needed for the burgeoning autonomous vehicle (AV) industry. This programme is part of the company’s broader strategy to prepare the next generation of transport professionals for the future of mobility.

The initiative focuses on training safety operators for AVs developed by ComfortDelGro’s partner, Moovita, which operates autonomous shuttles in various locations across Singapore. Additionally, the company has commenced remote operator and fleet management training as part of its AV pilot in China.

Cheng Siak Kian, Managing Director and Group CEO of ComfortDelGro, emphasised the importance of these developments, stating, “AV-related training and development are key to building new capabilities and creating new roles for the next generation of mobility solutions.”

Looking forward, ComfortDelGro plans to expand its training and development programmes to include cross-training for safety operators with different AV technologies. The company also aims to develop roles unique to AV operations, such as remote operators, maintenance specialists, data analysts, and fleet management positions. This approach is intended to enhance career opportunities for participants whilst supporting the company’s broader AV initiatives.

ComfortDelGro’s commitment to these initiatives underscores its dedication to ensuring its workforce remains at the forefront of the industry’s transformation, as it continues to embrace AV technology.
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Shopee Singapore has announced a new initiative allowing families to maximise their Child LifeSG credits. By topping up $250 in Child LifeSG credits to ShopeePay by 31 July, families will receive $250 in Shopee vouchers, ShopeePay in-store vouchers, and a Mums Club Premium upgrade. This initiative supports the government’s disbursement of $500 in Child LifeSG credits to every Singapore Citizen child aged 0 to 12.

The reward bundle includes $250 worth of Shopee vouchers, in-store vouchers offering up to 20% off offline purchases, and a complimentary upgrade to Mums Club Premium Membership. Chua Kel Jin, Director of Shopee Singapore, stated, “This campaign is about standing alongside Singaporean families and helping them get the most out of their Child LifeSG credits.”

To participate, users must top up a minimum of $250 in Child LifeSG credits to their ShopeePay wallet in a single transaction by 31 July 2025. The top-up process involves using the LifeSG app to select PayNow and scan the QR code generated in the ShopeePay wallet. Verification of the top-up can take up to three business days, with rewards released every Friday for transactions verified by Wednesday of the same week.

The Mums Club Premium Membership, part of the Shopee for Families 2025 campaign, offers exclusive parenting deals and early-bird access to sales. The free upgrade is valid until 31 December 2025. For more details, visit Shopee’s official website.
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China Medical System Holdings Limited (CMS) has successfully completed its secondary listing on the Singapore Exchange (SGX) Mainboard, with shares closing at S$2.28, marking an 11.2% increase from the opening price of S$2.05. CGS International Securities Singapore acted as the issue manager for this significant listing under the ticker symbol 8A8.

The listing is a strategic move by CMS to expand its footprint across Southeast Asia, using Singapore as a base to enhance its visibility among regional stakeholders. This development underscores CGS International’s role as a key facilitator for Chinese companies entering Asia’s capital markets. Jason Saw, Group Head of Investment Banking at CGS International Securities, stated, “We are honoured to support CMS in its strategic expansion in Southeast Asia through Singapore’s capital markets.”

CGS International, a leading financial services provider, continues to bolster its reputation by supporting cross-border transactions and engaging regional investors. The firm, in collaboration with its parent company China Galaxy Securities, serves nearly 18 million customers worldwide, offering a range of financial services across 15 countries and regions.

The successful listing of CMS not only highlights CGS International’s expertise in cross-border equity offerings but also its commitment to enabling access to Asia’s dynamic growth markets. This move is expected to further solidify CMS’s position in the region and enhance its growth trajectory.
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