Industry News

New research from HubSpot highlights a significant performance gap among Singaporean businesses based on their digital maturity. The study, which surveyed 544 business leaders, reveals that companies with fully integrated digital systems are ten times more likely to outperform their peers. This digital sophistication is crucial for navigating economic uncertainties and achieving rapid growth.

The research identifies key factors that distinguish top performers: integration of digital tools, AI maturity, and leadership alignment. Whilst 91% of businesses have embraced some form of digitalisation, only a minority have fully integrated systems, limiting their ability to maximise technology benefits. Carol Fong, Head of Asia at HubSpot, emphasised the importance of agility, stating, “The difference between a thriving business and one merely keeping the lights on comes down to how quickly they can adapt to changing market conditions.”

The study also highlights the role of AI in driving business success. Companies with advanced AI implementations report faster returns on investment and are nearly twice as likely to outperform their peers. However, only 16% of businesses have reached advanced AI deployment, indicating a significant opportunity for growth.

Leadership alignment emerges as a critical factor in digital transformation. As businesses mature digitally, internal bottlenecks such as slow decision-making and lack of leadership buy-in become more pronounced, hindering growth.

In conclusion, the HubSpot research underscores the importance of digital maturity in achieving business success. As economic challenges persist, companies that integrate digital tools effectively and align leadership strategies are better positioned to thrive.
“`

Income Insurance has announced that it will provide full coverage for customers affected by the recent closure of Jetstar Asia. Despite the situation not being an insured peril under standard policy conditions, Income Insurance will cover travel insurance customers who booked flights after 31 July.

These customers will receive 100% reimbursement for accommodation, theme park tickets, and transport bookings, provided they can demonstrate that they are unable to obtain refunds for these expenses.

The decision comes in response to the disruption caused by Jetstar Asia’s unexpected closure, which has left many travellers in a difficult position. By offering this coverage, Income Insurance aims to alleviate some of the financial burdens faced by affected customers.

“`

FairPrice Group has announced the return of its Save Every Day Campaign, offering more than 400 vouchers to customers from 12 June to 10 September 2025. This initiative, part of Singapore’s diamond jubilee celebrations, aims to provide over $1,000 in savings through vouchers available both physically and on the FairPrice Group app. These can be redeemed across all FairPrice, FairPrice Finest, FairPrice Xtra, and Unity outlets.

The campaign includes over 100 special SG60 vouchers, offering discounts on essentials like rice, oil, and milk, as well as treats such as chocolates and FairPrice tortilla chips. Exclusive online vouchers for electronics from brands like Samsung and Xiaomi are also available. The initiative is designed to help customers manage costs amid ongoing inflation, with vouchers combinable with existing discounts for pensioners and other groups.

Group CEO Vipul Chawla stated, “The Save Every Day Campaign is a key part of our ongoing efforts to keep daily essentials within reach for all in Singapore amid increasing global uncertainty, and stubborn inflation.”

Since its inception in 2021, the campaign has grown in popularity, with 2024 seeing nearly $1.4m in savings for customers. The vouchers can be used multiple times per transaction, and a new app feature will soon allow automatic application of discounts.

FairPrice Group continues to support affordability with initiatives like price freezes and special deals, ensuring essentials remain accessible to Singaporeans. For more information, visit FairPrice’s official website.
“`

Singapore has climbed to third place among Asia Pacific (APAC) countries in the Global Life-Work Balance Index 2025, published by Remote, a leading global HR platform. The city-state improved its global ranking to 25th, attributed to an increase in statutory maternity leave and a high happiness index score.

The index, which evaluates 60 countries based on factors such as statutory leave, work hours, and LGBTQ+ inclusivity, saw New Zealand maintaining its top position globally with a score of 86.87. Singapore’s rise in the rankings is part of a broader trend in the region, with Malaysia also making significant strides, moving up 20 places to rank fourth in APAC.

Barbara Matthews, Chief People Officer at Remote, commented on the importance of life-work balance, stating, “By promoting life-work balance, we acknowledge that work is a means to support life and not its defining purpose.”

Despite improvements, challenges remain for some APAC countries. Japan, for instance, fell to fifth place in the region, hindered by limited statutory annual leave. Meanwhile, China ranked lowest among APAC countries, with workers averaging 46.10 hours per week, the longest in the region.

“`

Tokio Marine Life Insurance Singapore Ltd (TMLS) has announced the appointments of Joanne Yeo as Chief Financial Officer and Koh Wei Lee as Chief Executive Officer of Tokio Marine Financial Advisers Singapore Pte Ltd (TMFAS), effective 12 June 2025. These strategic appointments are part of TMLS’s ongoing transformation efforts aimed at ensuring sustainable growth.

Joanne Yeo, previously Deputy Chief Executive at Pacific Life Re International Ltd, Singapore, brings a wealth of experience in business performance management, finance, and strategic planning. Her leadership is expected to enhance TMLS’s financial strategy and long-term planning. “Joanne joins us at a pivotal time as we strengthen our financial resilience to position the company for long-term success,” said Alistair Chamberlain, CEO of TMLS.

Koh Wei Lee, who has a strong background in financial advisory and insurance, previously served as CEO of SingLife Financial Advisers. His appointment as CEO of TMFAS highlights the company’s focus on strategic distribution and sustainable growth. Chamberlain noted, “With evolving client needs and industry transformation, Wei Lee’s appointment signals our ambition to elevate TMFAS to the next level.”

These leadership changes underscore TMLS’s commitment to maintaining its position as a leading life insurer in Singapore, supported by a robust network across 46 countries and regions. As the company continues to adapt to industry changes, the new appointments are expected to play a crucial role in its future development.
“`

CapitaLand China Trust (CLCT) has announced its intention to divest its 100% equity interest in CapitaMall Yuhuating, a retail property in Changsha, to CapitaLand Commercial C-REIT (CLCR), an indirectly wholly-owned subsidiary. This move is part of CLCT’s strategy to optimise its portfolio and enhance returns. The proceeds from this divestment will partly fund CLCT’s subscription to 5% of CLCR’s initial public offering (IPO) units.

The transaction, valued at no less than RMB748.0m (S$134.9m), will see CLCT subscribing to approximately S$20.7m worth of IPO units in CLCR. The divestment is expected to result in a 0.4% distribution per unit (DPU) accretion, assuming the proceeds are used to reduce debt and undertake unit buy-backs. The exit net property income yield is projected at 6.8%.

This divestment aligns with CLCT’s strategy to unlock value from mature assets and recycle capital. It will also strengthen CLCT’s financial position by potentially reducing its aggregate leverage from 42.6% to 41.4%. Additionally, the transaction provides CLCT with strategic access to China’s domestic capital market, differentiating it from other Singapore-based real estate investment trusts (S-REITs).

CapitaMall Yuhuating, located in Changsha’s Yuhua District, is a well-established community mall with convenient access to public transport. The divestment will enable CLCT to participate in the growing C-REIT market, which offers significant capital appreciation potential, supported by China’s efforts to boost consumer spending.
“`

Coface, a global leader in trade credit risk management, has released its 2025 Asia Payment Survey, revealing that companies across the Asia-Pacific (APAC) region anticipate worsening payment behaviours amidst economic uncertainty. The survey, conducted among 2,400 companies in nine APAC markets, highlights a significant rise in ultra-long payment delays, with 40% of companies reporting delays exceeding 180 days, up from 23% in 2023.

The survey indicates that economic challenges, including a slowdown and higher costs, are prompting businesses to shorten payment terms, with two-thirds of companies expecting shorter terms in the next six months. This reflects a cautious approach to cost management. Bernard Aw, Chief Economist at Coface, noted, “The economic slowdown and higher costs are making it difficult for businesses to earn sales revenue.”

Despite these challenges, the survey found that businesses in Singapore have shown resilience, with improved payment performance and prudent credit management. However, India, Thailand, and China have experienced the most significant increases in ultra-long payment delays, contributing to a sharp deterioration in credit risk.

Looking ahead, 57% of respondents expect payment behaviours to deteriorate further, with slower demand and rising costs cited as primary risks. Nonetheless, 56% remain hopeful for improvement, particularly in India. The survey underscores the ongoing economic uncertainties and the need for businesses to adapt their credit management practices accordingly.
“`

AppWorks marked its 15th anniversary by hosting its 30th Demo Day in Singapore, spotlighting the next generation of Southeast Asia’s AI, Web3, and deep tech startups. The event, held at JustCo Marina Square, featured 45 startups from 13 countries, with 78 founders, including 26 serial entrepreneurs, presenting their groundbreaking innovations.

The Demo Day highlighted the region’s maturing digital economy, with over 60% of the startups already expanding regionally and 18% achieving annual revenues exceeding $1m. Among the standout participants were Aliena, a Singapore-based space tech startup developing satellite thrusters; Resolv Labs from the British Virgin Islands, known for its delta-neutral stablecoin with $350m Total Value Locked; and Indonesia’s JALA, which is revolutionising shrimp farming through smart data and financial access.

This year’s cohort is notable for its focus on resilience and cross-border impact, with 53% of startups working in AI and 33% in Web3. Jamie Lin, Chairman and Partner at AppWorks, remarked that the cohort reflects “the region’s deepening bench of serial entrepreneurs, sharpened product-market fit, and strong revenue traction—exactly what today’s investors are looking for.”

As AppWorks continues to foster innovation in Southeast Asia, the showcased startups are poised to make significant contributions to the rapidly evolving digital landscape.
“`

Bosch Home Appliances Singapore has introduced its latest campaign, Care #LikeABosch, aiming to bring an emotional touch to modern home living. Launched on 11 June 2025, the campaign highlights how Bosch’s appliances, designed with care and convenience in mind, can simplify daily routines for Singaporean households.

The campaign moves beyond mere technical specifications, telling a human story of how appliances like water-efficient dishwashers and stress-free ovens become reliable partners in everyday life. It acknowledges the challenges faced by Singaporeans, such as fast-paced routines and limited living spaces, and showcases how Bosch’s smart appliances can alleviate these pressures, allowing more time for what truly matters.

Each month, new videos will be released, focusing on different appliances and the intelligent innovations that ensure their dependable performance. The campaign is exclusive to Singapore and will be featured on Bosch Home SG’s social media platforms, including Facebook, Instagram, and YouTube.

By spotlighting the emotional and practical benefits of its products, Bosch aims to resonate with consumers seeking more than just functionality in their home appliances. As the campaign unfolds, it promises to offer insights into how thoughtfully designed technology can enhance the quality of life at home.
“`

COURTS Singapore is celebrating Father’s Day with a range of exclusive deals on popular household items, available until 30 June 2025. Shoppers can find the perfect gift for their father figures with discounts on items such as coffee machines, shavers, and massage chairs.

Among the highlighted offers is the OSIM uCozy 3D Neck & Shoulder Massager, available for $99, down from its regular price of $199, until 15 June 2025. This lightweight massager promises to relieve tension with its 3D massage nodes and dual-directional kneading.

For those looking to upgrade their dad’s grooming routine, the Braun Series 6 Wet & Dry Shaver is on offer for $99, reduced from $259, until the end of June. This shaver features Autosense Technology, adjusting to beard density for a smooth shave, and is fully waterproof for versatile use.

Coffee enthusiasts can enjoy the De’Longhi Fully Automatic Coffee Machine, priced at $1,245, a discount from its usual $1,499. This machine offers seven one-touch drinks and features a built-in grinder for fresh coffee every time.

Additionally, the OSIM uThrone V Gaming Massage Chair is available for $699, a significant reduction from its original price of $1,599, until 15 June 2025. Designed for gamers, it offers targeted relief with advanced massage technology.

Lastly, the Cornell CAPS01WH Air Purifier is offered at $98, down from $159, until 16 June 2025. This purifier is designed for large spaces and promises cleaner air with its 360° intake and high CADR.

These deals provide an opportunity to show appreciation for fathers with thoughtful gifts that combine practicality and luxury.
“`