Industry News

GNC has been granted the rights to assume leases of its former stores from LAC, following a ruling by a Singapore court. This decision, announced on 31 October 2025, is set to bolster GNC’s growth strategy in Singapore, allowing the company to expand its footprint and enhance its partnership with Watsons to deliver top-tier wellness solutions.

The court’s decision is a significant development for GNC, a leading global health and wellness brand, as it clears the path for the company to reclaim its retail presence in Singapore. The ruling is expected to reduce market confusion and reinforce GNC’s leadership in science-backed wellness products.

GNC’s collaboration with Watsons, a prominent health and beauty retailer, is poised to accelerate as a result of this ruling. The partnership aims to provide consumers with best-in-class wellness solutions, leveraging GNC’s expertise and Watsons’ extensive retail network.

The court’s confirmation of GNC’s rights to the leases marks a pivotal moment for the company, as it seeks to strengthen its market position and continue its growth trajectory in the region. This strategic move is anticipated to enhance consumer access to GNC’s products and support the company’s long-term objectives in the competitive wellness market.

Five climate tech startups have been selected to join the Breakthrough Energy Fellows programme in Southeast Asia, as announced by Enterprise Singapore on 29 October 2025. This initiative aims to support innovative solutions addressing climate change challenges in the region. The startups will receive funding, mentorship, and networking opportunities to accelerate their development and impact.

The inclusion of these startups in the programme underscores the growing emphasis on sustainable technology in Southeast Asia. The Breakthrough Energy Fellows programme, backed by prominent investors, provides a platform for startups to scale their solutions and contribute to global sustainability goals.

The selected startups are set to benefit from a comprehensive support system designed to enhance their technological capabilities and market reach. This initiative is part of a broader effort to foster innovation in climate technology, crucial for addressing pressing environmental issues.

Enterprise Singapore’s involvement highlights the country’s commitment to nurturing a vibrant ecosystem for climate tech innovation. By supporting these startups, the programme aims to catalyse significant advancements in sustainable technology, potentially leading to impactful environmental solutions.

As these startups embark on their journey with the Breakthrough Energy Fellows, they are poised to make substantial contributions to the fight against climate change. The programme’s support is expected to accelerate their growth and amplify their impact, paving the way for a more sustainable future in Southeast Asia and beyond.

Denodo, a leader in data management, has signed a strategic Memorandum of Understanding (MOU) with ST Engineering Mission Software Systems to jointly advance data science and artificial intelligence (DSAI) technologies. The agreement was formalised during the InnoTech Conference 2025, held on 4 September. Richard Jones, Denodo’s Vice President and General Manager of APAC, and Percival Goh, Executive Vice President of ST Engineering Mission Software Systems, were the signatories.

The collaboration aims to enhance value delivery to customers in both government and commercial sectors through knowledge sharing, technical collaboration, and the joint development of services. Denodo will focus on integrating DSAI capabilities and developing prototypes, whilst ST Engineering Mission Software Systems will support the operationalisation of these efforts and participate in early-stage pilot projects.

Richard Jones highlighted the importance of data management in AI-driven decision-making, stating, “By combining ST Engineering’s deep domain knowledge with Denodo’s data management intelligence, we create a foundation that empowers timely, high-impact decisions for accelerated operational excellence.”

Percival Goh added, “This collaboration reinforces our commitment to delivering solutions that make a tangible difference in mission-critical operations.”

This partnership underscores a shared vision to accelerate AI adoption and operational intelligence, providing greater efficiency and agility to customers in rapidly evolving digital landscapes.

Singapore’s energy sector is poised for substantial growth, with the workforce in clean energy companies expected to increase by 60% over the next decade, according to the Energy Market Authority (EMA). This expansion, driven by advancements in solar, energy storage systems, and low-carbon electricity imports, highlights the sector’s transformation and the need for a skilled workforce to support this transition.

The EMA’s biennial Energy Sector Manpower Survey, conducted in 2024, reveals that the traditional power and gas workforce is also set to grow by 13% by 2034. This growth will be supported by developments in electricity transmission, distribution, power generation, and gas sub-sectors. The survey underscores the demand for engineers skilled in solar photovoltaic systems and professionals capable of managing low-carbon electricity imports.

To address these needs, EMA is collaborating with Institutes of Higher Learning and industry partners to develop training programmes. New educational initiatives include a Technical Engineer Diploma in Electrical Engineering (Clean Energy) and continuing education courses at Singapore Polytechnic and the Singapore Institute of Technology.

Chief Executive of EMA, Puah Kok Keong, emphasised the importance of workforce transformation in achieving Singapore’s net-zero goals, stating, “Singapore’s journey to net-zero is not just a technological shift but also a driver for workforce transformation and expansion.”

The EMA’s efforts are complemented by industry leaders like Keppel and Sembcorp Solar Singapore, who are investing in workforce development through training and innovative projects. As Singapore continues to decarbonise its energy sector, these initiatives will ensure a robust manpower pipeline to support the country’s energy transition.

Levanta Renewables has announced the acquisition of a 91 MWp operating solar power project in Thailand, marking a significant expansion of its renewable energy footprint in the region. The project, which is ground-mounted, is spread across ten sites in the Suphanburi and Kanchanaburi provinces. It generates approximately 155 GWh of renewable electricity annually, which is supplied to the Provincial Electricity Authority under long-term Power Purchase Agreements.

The acquisition underscores Levanta Renewables’ commitment to enhancing its renewable energy capabilities and contributing to sustainable energy solutions in Southeast Asia. By securing this portfolio, the company aims to bolster its position in the renewable energy sector and support Thailand’s energy transition goals.

This strategic move not only enhances Levanta’s operational capacity but also aligns with global efforts to increase the share of renewable energy in power generation. The project is expected to play a crucial role in reducing carbon emissions and promoting sustainable energy practices in the region.

Levanta Renewables, a Singapore-based company, continues to seek opportunities to expand its renewable energy projects across Asia, reinforcing its dedication to environmental sustainability and energy innovation. The acquisition of this solar portfolio is a testament to the company’s strategic vision and its role in driving the renewable energy agenda forward.

The Monetary Authority of Singapore (MAS) has announced the appointment of Phua Wee Ling as the new Assistant Managing Director for its Organisation and People Development Group, effective from 1 January 2026. Currently serving as Executive Director for Financial Centre Development, Phua will succeed Wong Zeng Yi, who will transition to Enterprise Singapore as Assistant Managing Director for Manufacturing.

Phua will oversee several departments, including People Development, Organisation Development and Communications, Legal, and Corporate Services, as well as the MAS Academy. Her extensive experience within MAS, where she has held various roles since 2006, positions her well for this leadership role. Prior to her tenure at MAS, Phua worked with Citibank Singapore Limited and the Central Provident Fund Board.

Wong Zeng Yi, who has been with MAS since 2006, has significantly contributed to the Organisation and People Development Group since his appointment in April 2021. His initiatives have included developing functional competency frameworks, launching an internal mentoring programme, and enhancing staff skills in artificial intelligence and data capabilities. Under his leadership, MAS has also advanced its corporate sustainability agenda by setting emission reduction targets and implementing energy efficiency measures.

Phua’s appointment marks a new chapter for the Organisation and People Development Group as MAS continues to focus on digital transformation and sustainability. Her leadership is expected to further strengthen MAS’s organisational capabilities and support the professional development of its staff.

The Energy Market Authority (EMA) of Singapore and the Government of Sweden have jointly launched the inaugural Singapore-Sweden Forum, coinciding with the 18th Singapore International Energy Week (SIEW). This initiative builds on the Singapore-Sweden Memorandum of Understanding on Energy Cooperation signed in November 2024, aiming to deepen collaboration on clean energy technologies and regional interconnectivity.

The forum brought together leading energy figures from both nations to discuss hydrogen and clean fuels, smart grids, energy efficiency, and innovative energy technologies. Sweden’s Deputy Prime Minister and Minister for Energy, Business and Industry, Ebba Busch, delivered a keynote speech highlighting the importance of innovation in the energy transition. She emphasised Sweden’s commitment to combining competitiveness with climate ambition, focusing on practical solutions that advance innovation and digitalisation.

Both countries have agreed to enhance multilateral electricity trading to bolster regional energy resilience. They plan to cooperate on deploying High Voltage Direct Current technologies and transmission infrastructure, supporting the ASEAN Power Grid. Additionally, they will explore emerging clean fuel pathways, such as hydrogen and ammonia, through collaboration and knowledge exchange.

EMA’s Chief Executive, Puah Kok Keong, expressed enthusiasm for the strengthened partnership, stating that these efforts will support the ASEAN Power Grid and catalyse new ideas for the energy transition. The collaboration aims to ensure a sustainable and secure energy future for all, furthering cooperation at SIEW and other multilateral forums.

The Civil Aviation Authority of Singapore (CAAS) has established the Singapore Sustainable Aviation Fuel Company Ltd. (SAFCo) to centralise the procurement of sustainable aviation fuel (SAF) for Singapore’s air hub. This initiative supports the national SAF policy, with SAFCo set up as a non-profit entity wholly owned by CAAS. Tan Seow Hui, a seasoned leader in energy and aviation, has been appointed as the founding Chief Executive Officer.

SAFCo’s creation follows the recent amendment of the Civil Aviation Authority of Singapore Bill, empowering CAAS to implement SAF policies and collect a SAF Levy. This levy will fund SAF procurement, aiming for a 1% SAF target by 2026, with plans to increase this to 3–5% by 2030. SAFCo will procure SAF through a competitive tender process, ensuring suppliers meet international sustainability standards.

SAFCo will also aggregate voluntary SAF demand from organisations looking to reduce their carbon footprint. This approach allows businesses to benefit from economies of scale and access competitively priced SAF without setting up their own procurement systems.

The immediate focus for SAFCo includes establishing governance frameworks, levy collection systems, and engaging stakeholders ahead of the first SAF procurement in 2026. SAFCo will also support the development of the SAF supply ecosystem in Singapore and the region, encouraging investment in SAF production capacity.

Han Kok Juan, Director-General of CAAS and Chairman of SAFCo, stated, “Through SAFCo, we want to get the best value for the SAF Levy collected and activate a SAF ecosystem.” Tan Seow Hui added, “By working closely with airlines, businesses, and suppliers, we aim to facilitate greater SAF adoption in the region.”

The World Gold Council’s latest report reveals that gold demand reached an unprecedented 1,313 tonnes in Q3 2025, valued at $146b. This surge was primarily fuelled by heightened investment demand, which rose by 47% year-on-year to 537 tonnes, accounting for 55% of the total net gold demand. The increase is attributed to geopolitical instability, a weakening US dollar, and investor fear of missing out as gold prices climbed.

Investment in gold exchange-traded funds (ETFs) was a significant contributor, with global inflows reaching 222 tonnes, marking the eighth consecutive quarter of growth in Asia. Bar and coin investments also saw a 17% year-on-year increase, with Singapore’s demand growing by 47% to 1.8 tonnes.

Central banks increased their gold purchases by 28% compared to the previous quarter, totalling 220 tonnes. Despite record-high gold prices, jewellery demand declined by 19% year-on-year, although the value of gold jewellery bought globally reached a record $112b.

Shaokai Fan, Head of Asia-Pacific (ex-China) and Global Head of Central Banks at the World Gold Council, noted, “With the record high level of gold demand and prices in Q3 2025, we expect gold demand to remain strong, with continued acceleration of gold ETF accumulation as well as bar and coin.”

The report highlights that total gold supply also reached a quarterly record of 1,313 tonnes, with mine production increasing by 2% year-on-year. The outlook for gold remains optimistic, with potential further gains driven by continued US dollar weakness and lower interest rate expectations.

Certis has announced the appointment of Yeo Teck Guan as its new Group Chief Technology Officer (GCTO), effective 3 November 2025. Yeo, a seasoned technology leader with over 30 years of experience, will spearhead Certis’ digital transformation, focusing on advancing artificial intelligence (AI), robotics, and smart orchestration platforms.

Yeo’s appointment is part of Certis’ ongoing strategy to bolster its technological capabilities. The company has been investing in technology talent, infrastructure, and partnerships to drive innovation. Yeo previously served as Chief Business Technology Officer at Singapore Pools, where he led significant modernisation efforts, including AI and automation initiatives, and strengthened cybersecurity measures.

“I am honoured to join Certis and excited to work alongside our teams to accelerate innovation, digitalisation, and the adoption of AI and robotics,” Yeo stated. “Together we will harness technology to make our world safer, smarter, and better.”

Certis has been expanding its AI and robotics engineering teams and has formed new partnerships with universities and commercial partners to enhance AI adoption. The company has also strengthened its robotics portfolio, deploying humanoid and quadruped robots for security, concierge, and inspection duties.

These developments underscore Certis’ commitment to leading in next-generation operations technology, aiming to deliver safer, smarter, and more sustainable solutions globally. Certis, headquartered in Singapore, has a significant international presence, extending to Australia and Qatar, and is supported by a global team of 25,000 employees.