Industry News

The Monetary Authority of Singapore (MAS) has announced the appointment of Avanda Investment Management, Fullerton Fund Management, and JP Morgan Asset Management as the first batch of asset managers under the S$5b Equity Market Development Programme (EMDP). This move, unveiled on 21 July, involves an initial injection of S$1.1b into Singapore equities, aimed at bolstering the local market’s liquidity.

MAS, in collaboration with the Financial Sector Development Fund (FSDF), is also setting aside an additional S$50m to enhance the Grant for Equity Market Singapore (GEMS) scheme. This initiative is designed to strengthen the equity research ecosystem and support the growth of Singapore’s listed product suite. The GEMS scheme will now extend until 31 December 2028, with increased funding for research reports and new grants for research dissemination via digital media.

In a bid to further enhance investor protection, MAS has identified three focus areas: enabling legal action, facilitating self-organisation, and providing funding access. A consultation on these proposals is expected later this year. Additionally, MAS is reviewing other initiatives to improve Singapore’s equities market, including measures to enhance shareholder engagement and market-making mechanisms.

The liquidity boost is seen as a positive development for the stock market, with CGS International noting that it complements the broader efforts to improve research, listing support, and investor confidence. The next phase of asset manager appointments under the EMDP is anticipated by the fourth quarter of 2025.
“`

Ng Teng Fong General Hospital (NTFGH) has unveiled Project ENTenna, an AI-driven initiative aimed at revolutionising the management of allergic rhinitis and other chronic diseases. This pioneering programme, supported by the Ministry of Health and JurongHealth Fund, will track 6,000 patients from 2024 to 2026, providing personalised treatment strategies and improving medication adherence.

Project ENTenna establishes Asia’s first comprehensive AI-driven allergic diseases database, focusing on allergic rhinitis. The initiative integrates patient demographics, clinical notes, and symptom trends to offer insights into personalised patient management. Adjunct Associate Professor Ng Chew Lip, the principal investigator, highlighted the project’s potential to transform chronic disease management across Asia.

Preliminary findings from 1,000 patients indicate significant improvements: reduced 630 repeat visits in hospital clinics and a 45% increase in transitioning patients to primary care. AI-powered tools, including avatars and symptom trackers, have boosted treatment adherence by 25%.

The programme also explores biomolecular treatments, recognising the unique allergy patterns in Asians compared to Caucasians. Collaborating with A*STAR, the project aims to identify new therapeutic targets and understand varying patient responses to standard treatments.

Future plans for Project ENTenna include expanding into paediatric care and enhancing outreach to vulnerable groups, such as migrant workers. The initiative also aims to extend its platform to other chronic diseases, including dementia and stroke, fostering a comprehensive, data-driven healthcare ecosystem in Singapore and beyond.
“`

NTT DC REIT has made its trading debut on the Singapore Exchange (SGX) with a market capitalisation of approximately US$1.03 billion. Sponsored by NTT Limited, part of the Japanese IT and telecommunications giant NTT Group, the real estate investment trust (REIT) offers a portfolio of six institutional-grade data centres located in the United States, Austria, and Singapore. These centres boast a 94.3% occupancy rate and are valued at $1.6 billion.

The REIT is projected to deliver annualised distribution yields of 7.50% for the nine months ending in 2026 and 7.80% for the financial year 2026/27, based on an offer price of $1.00 per unit. This launch marks a significant addition to the SGX, broadening the scope of AI-related investments available to traders.

The debut of NTT DC REIT comes amidst a backdrop of strong performance in the industrial sector. The FTSE ST Industrials Index has outperformed the Straits Times Index (STI) in 2025, delivering a 17% total return. This growth is driven by global supply chain shifts, increased AI-driven productivity, and a robust pipeline of construction projects. Notably, ST Engineering has emerged as the top performer within both the FTSE ST Industrials Index and the STI, achieving a 78% total return.

As the market continues to evolve, the introduction of NTT DC REIT is expected to attract further interest in data centre investments, potentially influencing future market dynamics.
“`

UNIQLO has teamed up with Ya Kun Kaya Toast to unveil a special collection of six UTme! T-shirts, inspired by Singapore’s beloved breakfast traditions. Launching on 1 August, the collection merges UNIQLO’s LifeWear philosophy with Ya Kun Kaya Toast’s rich heritage, offering designs that pay homage to Singapore’s iconic breakfast staples and coffee culture.

The collection features three designs that capture Ya Kun Kaya Toast’s storied journey, highlighting scenes from its original Far East Square store. The remaining designs celebrate Singapore’s “Kopi” and “Teh” culture, showcasing milk types and sweetness preferences, inspired by Ya Kun’s ‘Order Coffee Like a Pro’ concept. This collaboration aims to celebrate the everyday moments that make life in Singapore unique, inviting wearers to express their love for the city and its culinary delights.

In addition to the T-shirts, exclusive UNIQLO x Ya Kun Kaya Toast novelties will be available from 1 to 10 August, coinciding with the SG60 celebrations. This initiative offers both locals and tourists a chance to partake in the festivities, further cementing the collaboration’s cultural significance.

Kuroda Yusuke, Store Operations Director of UNIQLO Singapore, and Jesher Loi, third-generation owner of Ya Kun Kaya Toast, spearheaded this partnership, which underscores a shared commitment to celebrating Singapore’s cultural heritage. The collection not only highlights familiar food items but also invites everyone to wear their pride for Singapore’s unique breakfast culture.
“`

Steelpaint GmbH has announced its first collaboration with Singapore-based Winning International Group, securing a contract to supply its advanced two-coat polyurethane-zinc coating system for the cargo holds of the Winning Kindness, a 184,000 deadweight tonnage (dwt) capesize bulk carrier. This partnership marks a significant expansion for the German manufacturer among major Asian shipowners.

The coating will be applied at a shipyard in Zhoushan, China, with drydocking scheduled for September 2025. The protective system will cover a 2,000 square metre area prone to aggressive corrosion, including the tank top and lower hopper/stool structure. Frank Müller, Director of Steelpaint, highlighted the importance of this contract, stating, “Owners are seeing the long-term value of switching to a system that not only reduces lifecycle costs but extends vessel service life.”

The decision to partner with Steelpaint follows a successful test patch trial on another vessel, Winning Rich, which demonstrated the coating’s superior performance. Dmitry Gromilin, Chief Technical Supervisor at Steelpaint, noted, “Our PU-zinc system offers reliable protection, especially in high-stress areas.”

The Stelpant product, developed in the early 1980s, has gained traction in the shipping industry for its ability to extend maintenance intervals and reduce steel renewal costs by an estimated $4.5 million (£3.7 million) per vessel over its operational life. Winning International plans to monitor the coating’s performance closely, with potential for wider adoption across its fleet.

This contract is Steelpaint’s second recent agreement with Singapore-based operators, following an April deal to supply Stelpant to 20 dry bulk vessels. With demand for dry bulk tonnage remaining strong, Steelpaint’s innovative coatings are increasingly sought after to minimise downtime and maintenance costs.
“`

Fullerton Fund Management has been selected by the Monetary Authority of Singapore to manage a Singapore equities mandate under the Equity Market Development Programme (EQDP). This initiative aims to enhance Singapore’s asset management and research ecosystem whilst increasing investor interest in the local equities market. Fullerton plans to launch a dedicated Singapore equities unit trust to attract investor assets from both local and international segments.

The EQDP focuses on asset managers with a strong emphasis on Singapore-listed equities and aims to broaden investor participation beyond large-cap stocks. Fullerton, a home-grown investment specialist with over 20 years of experience, aligns with these goals due to its robust track record and proven investment capabilities. The programme’s selection criteria also highlighted the importance of a commitment to the EQDP’s objectives.

Chief Executive Officer Jenny Sofian expressed gratitude for the trust placed in Fullerton, stating, “This appointment is a strong validation of our commitment to Singapore’s capital markets.” She emphasised Fullerton’s strategic intent to contribute to a more vibrant investment ecosystem by linking buy-side and sell-side communities and fostering broader investor interest in mid-cap Singapore public equities.

Chief Business Development Officer Mark Yuen noted the current market volatility, influenced by dollar weakness and global interest rate movements, as a factor driving demand for Singapore and SGD-denominated assets. He stated, “We will be bringing a solution to the market in line with the goals of the EQDP.”

Fullerton’s initiative under the EQDP is expected to play a significant role in strengthening Singapore’s fund management and research ecosystem, potentially leading to increased investor participation and market liquidity.
“`

The Singapore Exchange (SGX) has witnessed a significant uptick in trading activity from late May to mid-July 2025, with the Straits Times Index (STI) returning 6.2% during this period. A group of 50 stocks outperformed, achieving average and median returns of 31% and 19%, respectively, alongside a notable increase in their combined daily trading turnover. This surge has resulted in tighter bid-ask spreads for most of these stocks.

Sanli Environmental and mDR have been standout performers, with their daily trading activity skyrocketing from approximately S$3,000 to over S$300,000 over seven weeks. This dramatic increase in turnover has led to tighter bid-ask spreads. Other notable stocks, including Cap Allianz, Oxley, Koh Brothers, Addvalue Tech, Banyan Tree, and Stamford Land, also experienced proportional rises in turnover.

Among the 50 stocks, Q&M Dental led institutional inflows, coinciding with a rise in share price, increased CEO ownership, and active share buybacks. OKP, LHN, Boustead, and Grand Venture also recorded significant net institutional inflows.

Sanli Environmental’s trading rank has soared in 2025, with its average daily turnover (ADT) increasing from around S$2,700 to S$83,000 by mid-July. The company recently announced a S$105.3 million contract for the Tuas NEWater plant, expected to boost its FY26 revenue. Meanwhile, mDR’s ADT rose from S$3,400 to S$103,000, with the stock moving up the ranks to become one of the top 150 most traded stocks by July.

The increased trading activity and tighter spreads reflect a dynamic shift in the market, with implications for future trading strategies and investor interest.
“`

Singapore Airlines (SIA) has entered a three-year partnership with Qualtrics, a leader in experience management, to enhance its customer experience analytics. By utilising Qualtrics’ advanced analytics and GenAI technology, SIA aims to gain deeper insights into customer preferences and feedback across multiple channels, thereby improving the overall travel experience.

The collaboration will enable SIA to process and analyse customer feedback more effectively, addressing evolving customer needs and concerns. Melvin Ng, Vice President of Customer Experience at SIA, stated, “By integrating advanced analytics with our customer experience strategies, we can better understand our customers’ evolving expectations, address their needs more effectively, and enhance their end-to-end journey with Singapore Airlines.”

Qualtrics’ GenAI capabilities will be leveraged to enhance the analysis of open-ended customer feedback, allowing SIA to extract more meaningful insights from written comments and suggestions. This approach is expected to improve the customer travel journey significantly.

Brad Anderson, President at Qualtrics, highlighted the importance of delivering great experiences, saying, “Companies that deliver great experiences build deeper relationships with their customers, and today’s market leaders are proven to have made this a greater priority over the last three years.”

This partnership underscores the growing importance of AI-driven analytics in the airline industry, particularly in a post-pandemic world where customer expectations are rapidly evolving. As SIA continues to prioritise customer experience, this collaboration with Qualtrics is set to play a crucial role in maintaining its competitive edge.
“`

Mediacorp has achieved a significant milestone, reaching an all-time high of 3.94 million weekly listeners across its audio network. This achievement underscores the enduring popularity of radio in Singapore, with Mediacorp’s eight leading stations, including YES 933 and LOVE 972, playing a pivotal role. The network’s market share stands at an impressive 84%, according to the latest Nielsen Radio Survey conducted from March to May 2025.

The survey, which involved 2,021 adults aged 15 and above, highlighted increased engagement, with listeners tuning in for an average of 10.3 hours weekly. YES 933 led the charge with 1.22 million weekly listeners, whilst WARNA 942 and LOVE 972 also saw significant increases in their audience numbers.

Mediacorp’s success extends beyond traditional radio, with strong growth in digital audio and social media engagement. Nine in 10 digital audio listeners, or 1.4 million individuals, tuned into Mediacorp stations, spending an average of 8.1 hours weekly. Social media platforms also saw a surge, with Facebook and Instagram engagement rising by 22.4% year-on-year, and TikTok engagement nearly doubling.

Angeline Poh, Mediacorp’s Chief Customer & Corporate Development Officer, remarked, “Reaching this all-time high is a humbling milestone that affirms our role as a trusted companion in the daily lives of Singaporeans.”

“`

BOSS Fragrances is set to celebrate its 101st anniversary with the debut of its first-ever pop-up at Paragon Orchard Lobby in Singapore. From 26 to 31 July, visitors can explore BOSS The Collection, a luxurious range of fragrances inspired by the style codes of the BOSS man and woman, alongside a unique mixology experience.

The pop-up will feature 15 distinctive scents, each designed to mirror a piece of the BOSS wardrobe, offering wearers the ability to adapt their fragrance to different moods and occasions. The collection includes Eau De Parfum and Eau De Intense, priced at $330 and $390 respectively, available at the pop-up, TANGS VivoCity, and Metro Paragon.

In collaboration with Lunì, Southeast Asia’s first scented cocktail bar, the pop-up will offer cocktails inspired by the ingredients of BOSS The Collection fragrances. This partnership extends beyond the pop-up, with a special cocktail menu available at Lunì from 1 August to 7 September 2025.

Visitors to the pop-up can enjoy bespoke experiences, including live bottle engraving and whisky cocktail pairings. Registered guests will receive complimentary fragrance samples tailored to their personal style. The pop-up promises an immersive journey where scent and style converge, offering a refined introduction to BOSS’s craftsmanship.

As BOSS continues to innovate in the world of fragrance, this pop-up marks a significant milestone in its centennial celebrations, blending tradition with modern sensory experiences.
“`