Industry News

CapitaLand Ascendas REIT has acquired a 100% interest in 25 Loyang Crescent, a transaction facilitated by CBRE’s Industrial Capital Markets team. This acquisition underscores Singapore’s appeal as a stable investment hub, driven by its robust economic fundamentals and political stability, according to Loh Lee Fen, Head of Industrial Capital Markets at CBRE.

The acquisition comes at a time when interest rates have softened to their lowest levels since 2022, enhancing buying momentum in the market. Loh highlighted the strong investor appetite for high-quality industrial real estate, particularly those assets offering long-term income security. “Well stabilised assets with good tenant covenant and long leases are popular given the resilience and clarity of income they provide in today’s environment,” she noted.

This move by CapitaLand Ascendas REIT reflects a broader trend of investors seeking stable and reliable income streams amidst fluctuating economic conditions. The acquisition of 25 Loyang Crescent is expected to further solidify the REIT’s portfolio, providing a steady income flow and reinforcing its position in the industrial real estate sector.

As interest rates remain low, the demand for industrial properties with strong tenant covenants and long leases is likely to continue, potentially leading to more acquisitions in the sector. This trend highlights the ongoing attractiveness of Singapore’s industrial real estate market to both local and international investors.

CapitaLand Ascendas REIT (CLAR) has announced the acquisition of two assets in Singapore and a significant stake in a data centre in Japan, totalling S$1.4b. The acquisitions include a 100% interest in 25 Loyang Crescent for S$504.2m and a 50% interest in Ascent at 2 Science Park Drive for S$245m. Additionally, CLAR is entering the Japanese market with a 49% interest in a Tier III hyperscale data centre in Greater Osaka for S$620.7m.

These strategic acquisitions are part of CLAR’s portfolio rejuvenation strategy, aimed at enhancing earnings resilience and portfolio quality. The acquisitions are expected to be distribution per unit (DPU)-accretive, with a projected increase of approximately 0.318 Singapore cents or 2.1% if completed by 1 January 2025.

William Tay, CEO of CapitaLand Ascendas REIT Management Limited, stated, “These three new accretive acquisitions reaffirm our commitment to build a high quality and resilient CLAR portfolio.” He highlighted the expansion into Japan as a strategic move to diversify CLAR’s global data centre portfolio.

The acquisitions will increase CLAR’s assets under management in Singapore to approximately S$13.2b, maintaining a Singapore-centric portfolio with 66% of its total AUM in the country. The entry into Japan marks a significant step into a market with robust data centre demand, driven by AI investments and cloud expansion.

The total acquisition outlay is expected to be S$1,410.3m, with financing partially through an equity fundraising. The acquisition of Ascent was completed on 23 March 2026, with the remaining acquisitions expected in the second and third quarters of 2026.

Singapore’s economic outlook faces significant challenges as the ongoing US/Israel-Iran conflict exacerbates inflationary pressures, according to UOB Global Economics and Markets Research. The conflict has led to a surge in crude oil and natural gas prices, impacting key sectors such as manufacturing, wholesale trade, and transportation in Singapore.

The report highlights that Singapore’s GDP growth, currently benefiting from AI-related momentum, could suffer if the conflict extends beyond one quarter. The manufacturing sector, which constitutes about 21% of GDP, is particularly vulnerable due to disruptions in semiconductor production caused by helium shortages. This could lead to adverse effects on related sectors, including wholesale trade and transportation.

UOB maintains its GDP growth forecast for Singapore at 3.6% for 2026 but warns of downside risks. The bank also revised its inflation forecasts, projecting headline inflation at 2.0% and core inflation at 1.9% for 2026, up from previous estimates of 1.5%. The report notes that energy prices are likely to remain elevated, with potential long-term impacts due to damaged energy installations in the Middle East.

The Monetary Authority of Singapore (MAS) is expected to tighten monetary policy in response to these inflationary pressures. UOB anticipates a 50 basis points increase in the Singapore dollar nominal effective exchange rate (S$NEER) slope in April 2026, with a further increase projected for October 2026. The report suggests that more aggressive measures could be implemented if inflation exceeds MAS’s baseline projections.

MGI Tech, a leading life sciences company, has announced a collaboration with the National University of Singapore’s (NUS) Pharmacy and Pharmaceutical Sciences department to establish a new Digital and Computational Sciences (DCS) lab. This partnership aims to accelerate innovation in multi-omics, a field that integrates various biological data types, to advance pharmaceutical sciences.

The collaboration will focus on leveraging MGI Tech’s cutting-edge technology and NUS’s academic expertise to drive research and development in multi-omics. The DCS lab will serve as a hub for innovation, enabling researchers to explore new methodologies and applications in pharmaceutical sciences. By combining resources, the partnership seeks to enhance the understanding of complex biological systems and improve drug development processes.

MGI Tech’s spokesperson highlighted the significance of this collaboration, stating, “This partnership with NUS represents a significant step forward in our commitment to advancing multi-omics research. By working together, we can unlock new insights and drive innovation in pharmaceutical sciences.”

The establishment of the DCS lab is expected to foster collaboration between academia and industry, providing opportunities for students and researchers to engage in cutting-edge research. The partnership also aims to contribute to the broader scientific community by sharing findings and advancements in multi-omics research.

As the collaboration progresses, both MGI Tech and NUS anticipate that the DCS lab will play a pivotal role in shaping the future of pharmaceutical sciences, potentially leading to more effective and personalised medical treatments.

Singapore’s Consumer Price Index (CPI) for February 2026 increased by 1.2% compared to the same month last year, according to the latest data. On a month-on-month basis, the CPI rose by 0.6%, reflecting a continued upward trend in consumer prices.

The rise in the CPI was driven by several key expenditure divisions. Notably, the food sector saw a year-on-year increase of 1.6%, with fish and other seafood prices surging by 7.4%. Transport costs also contributed to the overall increase, with a 2.7% rise year-on-year, despite a 0.4% decrease from January 2026.

Health insurance costs experienced a significant jump, with a 14.8% increase compared to February 2025, although they fell by 1.4% from the previous month. Meanwhile, the clothing and footwear sector saw a decline, with prices dropping by 0.9% year-on-year.

The Monetary Authority of Singapore’s (MAS) core inflation measure, which excludes accommodation and private road transport costs, rose by 1.4% year-on-year and 0.5% month-on-month. This measure is closely watched as it provides a clearer view of underlying inflation trends.

These figures highlight the ongoing pressures on consumer prices in Singapore, influenced by various factors across different sectors. As the economy continues to adjust, monitoring these trends will be crucial for policymakers and consumers alike.

SingWealth Holdings has taken a significant step in supporting Singapore’s ageing population by sponsoring Lianhe Zaobao’s “My Legacy and Living Well” event on 21 March 2026. The event aimed to foster discussions on health, financial preparedness, and legacy planning, reflecting the growing demand for integrated life planning among Singaporeans.

With one in five citizens aged 65 and above, the event’s focus on ageing well resonated with many attendees. Jeffrey Chow, Executive Director and Group CEO of SingWealth Holdings, emphasised the importance of maintaining dignity, independence, and peace of mind as people age. “Ageing well is not just about living longer,” he stated, highlighting the need for comprehensive planning.

SingWealth’s involvement underscores its commitment to education, awareness, and long-term readiness. Chow added, “We hope to encourage earlier and more thoughtful conversations around health, financial readiness, and legacy planning so individuals and families can move forward with greater confidence.”

The company continues to support Singaporeans through educational efforts and professional guidance, helping individuals understand their options. SingWealth’s ecosystem includes specialised entities such as PFPFA, PFP Legacy, and Assure Healthcare Holdings, each playing a distinct role in financial planning, estate and succession planning, and preventive healthcare.

Headquartered in Singapore, SingWealth Holdings is a regional wealth management group with a presence in Malaysia, Thailand, Hong Kong SAR, and China. It offers integrated financial advisory and insurance brokerage services, estate planning, and healthcare solutions, aiming to empower clients with financial clarity and continuity.

Actis, a prominent investor in sustainable infrastructure, has completed the acquisition of a 90% stake in 800 Super, a leading environmental management company in Singapore. This acquisition, announced on 23 March 2026, is part of Actis’ Long Life Infrastructure Fund 2 (ALLIF2), which is now approximately 70% deployed. The deal increases Actis’ total investment in Southeast Asia to $1.7 billion.

800 Super, known for its waste management and recycling services, derives most of its revenue from long-term contracts with the Singaporean government. This acquisition aligns with ALLIF2’s focus on investing in high-quality infrastructure assets with stable, long-term revenues. The company is a key player in Singapore’s circular economy and is integral to the nation’s 2030 Zero Waste Masterplan.

Adrian Mucalov, Head of Long Life Infrastructure at Actis, stated, “We view the acquisition of 800 Super as an exciting contribution to our portfolio of leading sustainable infrastructure companies and assets.” William Lee, CEO of 800 Super, remarked that the acquisition is a strategic investment that will enhance the company’s competitive advantages.

This transaction follows Actis’ recent investments in Southeast Asia, including MTerra Solar and Levanta Renewables, as the firm continues to capitalise on the region’s infrastructure demand and growth potential. Actis’ strategic focus on sustainable infrastructure is further strengthened by its partnership with General Atlantic, enhancing its global investment platform.

Singapore Airlines (SIA) is set to launch daily flights between Singapore and Hangzhou starting 1 June 2026, pending regulatory approvals. This new route will be SIA’s ninth destination in mainland China, complementing existing services by Scoot, SIA’s low-cost subsidiary. The addition underscores SIA’s commitment to the Chinese market, where the group now serves 22 destinations.

Hangzhou, located in the Yangtze River Delta, is renowned for its tourist attractions like the UNESCO-listed West Lake and its status as a business hub, particularly in technology and e-commerce. The new service aims to cater to both leisure and business travellers, offering increased flexibility and connectivity.

The flights will be operated using the Airbus A350-900 medium-haul variant, configured with 303 seats—40 in Business Class and 263 in Economy Class. The inaugural flight, SQ838, will depart Singapore at 1740hrs and arrive in Hangzhou at 2250hrs local time. The return flight, SQ839, will leave Hangzhou at 0010hrs, arriving in Singapore at 0510hrs.

Dai Haoyu, Senior Vice President Marketing Planning at Singapore Airlines, stated, “The launch of services to Hangzhou caters to demand from both leisure and business travellers to China. This new daily service deepens our presence in a key market for the SIA Group.”

Tickets for the Hangzhou services will be available through SIA’s distribution channels from 23 March 2026.

The Infocomm Media Development Authority (IMDA) has introduced the Digital Leaders Accelerator Bootcamp (DLAB) to enhance AI adoption among Singaporean enterprises. Announced by Minister for Digital Development and Information, Josephine Teo, the initiative is part of the National AI Impact Programme and builds on the existing Digital Leaders Programme.

DLAB is designed for business leaders of digitally progressive enterprises, known as Digital Leaders. The bootcamp will run multiple times a year, offering hands-on experience in implementing AI projects that address real business challenges. Participants will leave with a digital roadmap to guide their AI adoption, aiming to build confidence in scaling AI usage across their operations.

The programme marks a shift from traditional technology-focused approaches by integrating technical expertise with organisational readiness. IMDA aims to support 2,000 Digital Leaders over the next three years, equipping them with the necessary tools and methodologies for AI transformation and digital change management.

In collaboration with Boston Consulting Group and EY-Parthenon, the bootcamp combines local market insights with global AI transformation experience. Participants will engage in strategy planning workshops and project development sessions to identify high-impact use cases and implement viable AI solutions.

Upon completion, enterprises will gain practical experience in deploying AI, understanding critical topics such as business process redesign and data management. The inaugural session begins on 26 March, with EY-Parthenon leading the first run, followed by Boston Consulting Group in the second quarter. IMDA plans to expand the programme with new industry partners to support more enterprises across various sectors.

The Advertising Standards Authority of Singapore (ASAS) has reported a significant increase in feedback regarding advertisements using generative artificial intelligence (Gen AI) in 2025. The authority received seven complaints about AI-generated ads, more than double the combined total of three from the previous two years. ASAS is urging industry bodies to create sector-specific guidelines to prevent misleading advertisements.

ASAS received a total of 379 pieces of advertisement feedback in 2025, with telecommunications and restaurant advertisements being the most complained about sectors. The rise in AI-related feedback highlights growing consumer concerns over potentially misleading content created using AI technologies. An example cited involved a telemedicine company using AI to simulate a personal testimonial, which was deemed misleading by complainants.

ASAS Chairman Bryan Tan emphasised the importance of ethical advertising, stating that whilst AI is a valuable tool, its use must be responsible. “False and misleading advertisement content is unacceptable, regardless of the tools used,” he said. ASAS maintains that advertisements must comply with the Singapore Code of Advertising Practice (SCAP) and national legislation.

The authority advocates for a risk-based approach to AI usage in advertising, focusing on applications where there is a high potential to mislead. ASAS invites industry bodies to collaborate on developing guidelines and offers a copy advice service for marketers to ensure compliance with SCAP. This initiative aims to foster trust in advertising amidst technological advancements.