Industry News

A new musical comedy, Congratulations Get Rich, is set to captivate audiences with its unique blend of supernatural elements and Singaporean culture. Presented by the Singapore Repertory Theatre in collaboration with La Boite Theatre and Sydney Theatre Company, the production will run from 29 October to 9 November 2025 at the Drama Centre Theatre.

The musical centres on a reunion dinner that takes an unexpected turn as ghosts return and family secrets are revealed. The story focuses on three compelling women, exploring the complexities of familial relationships amidst the chaos and humour of a supernatural encounter. The production promises a mix of witty humour and emotional depth, making it a memorable experience for theatre-goers.

Charlotte Nors, Managing Director of the Singapore Repertory Theatre, is overseeing the production, which aims to showcase the vibrant spirit of Singaporean life. The collaboration with international theatre companies highlights the global appeal and cultural richness of the story.

Congratulations Get Rich is expected to resonate with audiences through its timely themes and engaging narrative. The production not only entertains but also offers a reflection on the dynamics of family and the unexpected twists life can bring. As the show opens, it promises to be a standout addition to Singapore’s theatrical offerings, blending local flair with universal themes.
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Ong Beng Seng, a prominent figure, pleaded guilty on 4 August 2025 to a charge of abetting the obstruction of justice. This charge falls under Section 204A, read with Section 109 of the Penal Code. Additionally, another charge under Section 165, also read with Section 109, was considered during sentencing.

The case highlights the legal implications of obstructing justice, a serious offence under Singaporean law. Ong’s admission of guilt underscores the importance of upholding judicial processes and the consequences of interfering with them. The charges reflect the severity with which such offences are treated, aiming to maintain the integrity of legal proceedings.

The court’s decision to consider an additional charge during sentencing indicates the comprehensive approach taken in addressing the matter. This case serves as a reminder of the legal responsibilities individuals hold and the potential repercussions of failing to adhere to them.

As the legal process unfolds, the implications of Ong’s guilty plea will be closely monitored, with potential impacts on his professional and personal life. The case reinforces the message that justice must be upheld without interference, ensuring fairness and transparency in legal matters.
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Monaco, Geneva, and Singapore have emerged as the most active markets for super prime property sales, according to recent research by Jefferies London. The study, which analysed 17 global hotspots, found that Monaco leads with 56.7% of homes listed at £3 million or more. Geneva follows with 40.7%, whilst Singapore reports 21.2% of its listings at this prime price point.

The research highlights the ongoing demand for high-value properties in these cities, despite a turbulent global economic landscape. Other notable markets include Los Angeles and New York, with 10.2% and 7.5% of listings, respectively, meeting the £3 million threshold. London, a traditional hub for prime properties, ranks seventh, with 5.6% of its listings priced at £3 million or more.

Damien Jefferies, founder of Jefferies London, remarked, “The global economic landscape may be turbulent at best, but we continue to see real estate at the very top tiers of the global market change hands.” He emphasised the timeless appeal of these markets, noting that whilst values may fluctuate, their allure remains strong for exclusive buyers.

The findings underscore the significance of these cities as focal points for both domestic and international buyers, driven by their status as financial and cultural centres. As market dynamics evolve, these prime property hotspots are expected to maintain their prominence in the global real estate landscape.
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The Westin Singapore has announced its “Move Well Marathon Package” for participants of the Standard Chartered Singapore Marathon (SCSM) 2025. Available from 4 to 8 December 2025, the package aims to enhance runners’ performance and wellbeing with a range of luxurious amenities, including a stay in a Deluxe Room, daily breakfast at Seasonal Tastes, and access to the Heavenly Spa by Westin.

Located in the heart of Singapore’s Central Business District and Marina Bay, The Westin Singapore provides easy access to scenic running routes and the marathon’s flag-off venue. The package includes a Next Generation Heavenly Bed for restorative sleep, a Hyperice Gear Lending Kit, and an ice bath at PURE Fitness for active recovery. Guests can also enjoy the WestinWORKOUT Fitness Studio and receive exclusive Westin Bear merchandise.

The initiative aligns with Westin’s “Move Well” pillar, focusing on helping guests maintain balance and energy whilst travelling. Additionally, The Westin Singapore has partnered with the Singapore Disability Sports Council as its official beneficiary, supporting para-athletes across various sports. Guests can contribute by purchasing exclusive charity shirts through the hotel’s e-shop.

The Westin Singapore, occupying levels 32 to 46 of Asia Square Tower 2, offers 305 guestrooms and suites, four dining venues, and an outdoor infinity pool. This package not only enhances the marathon experience but also supports a charitable cause, providing a holistic approach to wellness and community engagement.
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Keppel REIT has maintained a ‘buy’ rating from UOB Kay Hian, with a target price of S$1.18, reflecting a 21.6% upside from its current share price of S$0.97. The real estate investment trust, which focuses on premium grade A office buildings across Asia Pacific, reported a positive rental reversion of 12.3% for the first half of 2025, driven by strong demand in Singapore and Australia.

The REIT’s portfolio, valued at S$9 billion, includes properties in key financial districts in Singapore, Australia, South Korea, and Japan. Notably, Keppel REIT has successfully backfilled vacancies at Ocean Financial Centre in Singapore and 255 George Street in Sydney, contributing to a net property income growth of 13.4% year-on-year in Australia.

Keppel REIT’s strategic positioning benefits from Singapore’s growing stature as a financial hub, with the city-state’s reciprocal tariffs and trade agreements enhancing its appeal. The REIT’s portfolio occupancy remains stable at 95.9%, with a weighted average lease expiry of 4.8 years, indicating long-term tenant commitments.

The REIT’s financial metrics remain robust, with a distribution yield of 6.9% projected for 2026, and a price-to-net asset value ratio of 0.80x. The management, led by CEO Chua Hsien Yang, is considering equity fundraising for potential acquisitions in Japan to further optimise its leverage.

Keppel REIT’s continued focus on high-quality assets and strategic market positioning is expected to support its growth trajectory, with full-year contributions from recent acquisitions anticipated to enhance its financial performance.
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Oiltek International, a leading Agri-Tech and renewable energy solutions provider, has reported record-high earnings for the first half of 2025, with a net profit of RM14 million, marking a 38% year-on-year increase. The company’s performance was bolstered by strong margin expansion in its refinery segment, despite a flat revenue of RM101 million compared to the previous year. The results, which account for 41% of the full-year forecast, were in line with expectations, as the first half typically contributes 35-40% of annual performance.

The company’s gross profit surged by 39% to RM32.4 million, with a gross margin increase of 12.8 percentage points, largely due to contributions from its edible and non-edible oil refinery segment. Oiltek has also declared a 67% higher interim dividend, reflecting its strong financial health and commitment to shareholder returns.

Oiltek’s robust orderbook, valued at RM332.5 million as of 30 July 2025, underscores its earnings visibility and positive outlook, says UOBKayHian. The company is well-positioned to capitalise on the growing global demand for oils and fats, as well as the increasing investments in biodiesels and sustainable aviation fuel (SAF). The global fats and oils market is projected to grow significantly, providing ample opportunities for Oiltek to expand its market presence.

UOBKayHian maintained its “Buy” rating, with a revised target price of S$1.05, up from S$0.86, based on a 33x 2026 forecast price-to-earnings ratio. This adjustment reflects the company’s improved trading liquidity and potential dual listing, which could enhance investor access and support a re-rating. Looking ahead, Oiltek is poised to benefit from higher-than-expected order wins and improved gross margins, driven by economies of scale.
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eero, an Amazon company, has introduced its latest Wi-Fi 7 routers, eero 7 and eero Pro 7, in Singapore. These devices aim to provide high-speed, reliable internet connectivity across various home sizes, from HDB flats to larger landed properties. The launch also includes eero Plus, a subscription service offering enhanced security and parental controls.

The eero 7 router is designed for everyday use, offering up to 2.3 Gbps wired speeds and supporting over 120 connected devices. It covers 190 square metres, making it ideal for HDBs and condominiums. For larger homes, the eero Pro 7 delivers up to 4.7 Gbps wired speeds and supports over 200 devices, ensuring strong connectivity even in network-congested areas.

Both routers utilise eero’s TrueMesh, TrueRoam, and TrueChannel technologies to optimise data routing and minimise interference. They support the latest Wi-Fi 7 features, including Multi-Link Operation and 4K-QAM, to enhance throughput and reduce latency.

Jacqueline Lipman, APAC Managing Director of eero, stated, “As homes in Singapore get smarter than ever, eero 7, eero Pro 7, and eero Plus will deliver speed, reliability, and advanced security to Singaporeans to meet their evolving needs.”

The eero Plus subscription offers additional security features such as VPN access and malware protection. The routers are available for purchase through various retailers, including Amazon.sg, with prices starting at $160 (S$219.99) for the eero 7 and $315 (S$429.99) for the eero Pro 7. Visitors can experience these products at the COMEX 2025 IT Show from 28 to 31 August at Suntec Singapore Convention & Exhibition Centre.
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Heraeus Materials Singapore Pte. Ltd. (HMSL) has celebrated its 40th anniversary in Singapore, marking the occasion with an exclusive seminar and innovation showcase at Conrad Singapore Marina Bay on 4 August. The event brought together key customers, strategic partners, and notable guests, including representatives from the Singapore Economic Development Board (EDB) and trade unions.

Since its establishment in 1985, HMSL has transformed from a sales office into a significant hub for innovation and production in semiconductor packaging materials. This evolution has supported global advancements in smart technology, sustainable energy, and communications mobility. In 2021, the company further solidified its role in the semiconductor ecosystem with the launch of its Centre of Excellence for Advanced Packaging.

Li-San Chan, Global Business Line Head for Semiconductor Materials, remarked, “For four decades, we’ve partnered closely with customers and suppliers to create the future through materials innovations.” The seminar featured presentations on Heraeus’ latest technological innovations and product developments, alongside a showcase of real-world applications.

Kelly Lai, Vice President for Chemicals and Materials at EDB, highlighted Heraeus’ commitment to Singapore, stating, “Heraeus Electronics has built a strong partnership with Singapore over the past 40 years, reflecting the trust and confidence placed in Singapore as a hub for advanced manufacturing and innovation.”

As HMSL celebrates this milestone, it reaffirms its mission to drive innovation that empowers industries and enriches lives, continuing to play a pivotal role in Singapore’s growing semiconductor ecosystem.
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The World Intellectual Property Organisation’s Director General, Daren Tang, has emphasised the importance of keeping human creativity at the forefront of intellectual property (IP) laws amidst the rapid rise of generative AI. Speaking at the “Intellectual Property and Technology in the 21st Century” conference, held on 4 and 5 August 2025 at NUS Law, Tang highlighted the need for IP systems to evolve whilst ensuring that technology serves humanity.

Tang noted that whilst generative AI has advanced swiftly, it remains a “skilful replicator” lacking the originality inherent in human creativity. He stated, “Ingenuity, invention and creativity is a fundamental part of who we are as a human species, and technology, as well as the IP system, must continue to protect, nurture and support this.”

The conference, organised by the Centre for Technology, Robotics, Artificial Intelligence & the Law and the EW Barker Centre for Law & Business at NUS Law, was co-hosted with law schools from Columbia, Oxford, and Tsinghua. It brought together over 100 participants from academia, government, and industry to discuss the challenges posed by technological advancements.

Adam Williams, CEO of the UK Intellectual Property Office, stressed the importance of IP rights in fostering innovation, whilst Tan Kong Hwee, CEO of the Intellectual Property Office of Singapore, highlighted the need for a balanced approach to protect IP owners’ rights and facilitate responsible innovation.

The event also featured discussions on the legal implications of AI, including the concept of ‘artificial causation’ and the challenges of attributing responsibility for AI-generated content. As the conference concluded, experts called for ongoing dialogue to ensure that IP frameworks remain relevant and supportive of human creativity in the digital age.
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Shawarma Shack, the Philippines’ leading shawarma chain with over 850 outlets, has opened its first international location in Singapore, choosing the city-state for its ease of business setup and strategic position in Asia. The first outlet launched on 30 July at Toa Payoh’s HDB Hub, with a second set to open in October at Poiz Centre, Potong Pasir. This expansion is part of the chain’s plan to use Singapore as a springboard for global growth.

Founded in 2015 by Walther Buenavista, Shawarma Shack began as a small food stall in Manila’s Divisoria market. It quickly gained popularity for its affordable, hearty meals, leading to rapid expansion across the Philippines. By 2018, the chain had opened its 100th store, and within a year, it had grown to 400 outlets. Buenavista attributes this success to the brand’s focus on providing delicious, value-for-money meals that cater to young professionals.

The Singapore outlets will offer a menu similar to that in the Philippines, featuring wraps, rice meals, and salad boxes with chicken and beef options. Prices start at $4.30 (S$5.90) for regular shawarma wraps, with the Classic Broasted Chicken Rice priced at $7.90 (S$10.90). The chain also plans to open five self-owned outlets in Singapore within the next year and is open to franchise requests.

Buenavista expressed optimism about the brand’s future in Singapore, stating, “We hope that Singaporeans will love our shawarmas and we look forward to a long and meaningful journey with our Singaporean landlords, staff, partners, and suppliers.” If successful, Shawarma Shack aims to expand further, establishing Singapore as its second headquarters.
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