Industry News

SuperPark Singapore, the largest indoor activity park in a shopping centre, is set to reopen on 25 May 2025 at Suntec City, boasting a significant upgrade. The revamped park now spans 25,000 square feet over two levels and features 34 activities, including 13 new installations. Operated by The DreamUs Group, the park is designed around three enhanced play zones: Freestyle Hall, Games Arena, and Adventure Area.

The park’s new offerings include eight convertible party rooms, ideal for birthdays, school trips, and team-building events. Additionally, the introduction of the Super Recharge Café provides a vibrant space for visitors to enjoy hotdogs, pizzas, and fruity slushes, turning breaks into social moments.

To celebrate its relaunch, SuperPark Singapore is offering a Limited-Time Early Birds Promotion until 24 May 2025. The first 500 tickets are available at a 20% discount using the code SUPER20, with a 10% discount on subsequent admissions using SUPER10. Party packages also receive a 10% discount with the code SUPERPARTY10.

The park’s new entrance is conveniently located at Level 1, facing Olivia & Co, making access easier for visitors. This upgrade reaffirms SuperPark Singapore’s commitment to providing fun for all ages, ensuring a dynamic and engaging experience for everyone.
“`

Anytime Fitness Singapore has achieved a significant milestone by opening its 125th club just three months into 2025. This rapid expansion underscores the brand’s commitment to providing 24-hour access to high-quality fitness facilities across the nation. Johannes Raadsma, President and Co-Founder of Inspire Brands Asia, the master franchisee for Anytime Fitness Asia, expressed excitement over reaching this milestone, highlighting the growing demand for accessible and flexible fitness solutions.

The expansion is part of a broader strategy to enhance the fitness journey for individuals throughout Singapore. The new clubs are strategically located in residential areas, commercial districts, and town centres, ensuring convenience for members. Among the new openings are Anytime Fitness Yishun East, Concourse, Tekka Place, Balmoral, Bukit Merah, Tengah, Clementi 354, and Kaki Bukit.

Mark De Joya, Chief Operating Officer of Inspire Brands Asia, emphasised the company’s shift towards pricing transparency, making membership costs readily available online. This initiative aims to provide prospective members with a seamless experience in exploring their options.

Luke Guanlao, Group CEO and Co-Founder of Inspire Brands Asia, reiterated the brand’s mission to create an inclusive and motivating environment. “Our mission goes beyond opening clubs—we are committed to creating an inclusive and motivating environment where everyone feels supported in their fitness journey,” he stated.

With plans to reach 200 clubs within the next decade, Anytime Fitness continues to lead the industry by offering state-of-the-art facilities, personalised training support, and a welcoming community. The brand also upgraded its Smart Coaching Ecosystem, the AF App, to enhance members’ holistic health and fitness experiences.
“`

Quantified Energy, a Singapore-based deep-tech company, has announced the successful completion of its Series A funding round, led by Vertex Ventures Southeast Asia & India. This investment aims to accelerate the global expansion of Quantified Energy’s drone-based solar inspection technology, which was developed as a spin-off from the Solar Energy Research Institute of Singapore at the National University of Singapore.

Founded in 2021, Quantified Energy has pioneered an autonomous drone electroluminescence mapping solution, providing inspection services for utility-scale and commercial solar systems. The company recently completed the world’s largest electroluminescence inspection, covering over one million photovoltaic modules in just three weeks. This achievement underscores the growing demand for efficient solar inspection solutions, as BloombergNEF projects 4.5 terawatts of new solar capacity by 2030.

The funding will enable Quantified Energy to roll out its second-generation drone inspection solution globally. The company plans to introduce a “pay-per-use” model for DJI M300/M350 drone operators, allowing them to perform high-throughput inspections. CEO Yan Wang stated, “With this new round of funding, we will be rolling out our second-generation drone EL inspection solution globally.”

Quantified Energy has already deployed its solutions across Asia, Europe, Oceania, and the Middle East. A recent Memorandum of Understanding with TÜV Rheinland at Intersolar Europe 2025 will further drive the adoption of their technology in European markets. Vertex Ventures Partner Puiyan Leung commented, “We are excited to work with Quantified Energy to bring their innovations to the global solar market.”

With this strategic investment, Quantified Energy is poised to enhance solar asset management and financing, contributing to the renewable energy transition worldwide.
“`

The rise of “kidults”—adults indulging in emotional spending and viral-trends collecting—has typically been associated with Millennials and Gen Z. However, new insights from Carousell, a leading multi-category recommerce marketplace, reveal that older collectors are emerging as key players in Singapore’s booming collectibles scene.

A recent Carousell poll found that 42% of users in the Hobbies & Toys category are aged 41 and above. Within this group, those aged 41–50 form the largest segment, accounting for nearly 30% of all collectors. This demographic is also the second-highest spending group, with 40% reporting annual expenditures exceeding S$1,000—just behind the 26–30-year-olds at 56%.

Among collectors aged 41 and above, 76% have been collecting for over five years, showcasing a strong commitment to the hobby. Interestingly, 14% of this age group started collecting within the past year, indicating a growing interest. Many Gen X collectors integrate collecting into their weekly routines, with nearly half browsing for collectibles at least once a week. Additionally, 47% actively organise and catalogue their collections, often using digital tools.

Figurines and toys are the most popular collectibles across all ages, with LEGO being particularly favoured among older collectors. This blend of modern and nostalgic preferences highlights how older collectors balance traditional interests with contemporary trends.

Carousell’s data from Q1 2025 supports these findings, showing a growing interest in collectibles that span generations. Popular searches include figurines like “Labubu” and “Mofusand”, trading cards such as Pokémon, and toys like LEGO and Jellycat plushies.

As collecting gains popularity, Gen X is not merely participating but actively shaping the scene alongside younger “kidults”. Their passion and willingness to spend add a deeper layer of generational diversity to Singapore’s collecting community.
“`

The Association of Banks in Singapore (ABS) has released the results of the fourth Banking Trust Index for Singapore (BTIS) survey, conducted by Edelman Data & Intelligence from 27 September to 5 November 2024. The survey revealed that whilst trust in the Singapore banking industry remains high, there has been a slight decline in the Edelman Net Trust Score (ENTS) from 70 in 2022 to 68 in 2024. This dip is attributed to increasing public expectations for banks to make a positive societal impact.

The survey, which included responses from 3,501 Singapore residents across 14 participating banks, highlighted a shift in public priorities. Whilst banks have maintained or improved their performance in 26 trust drivers, the emphasis on Purpose—banks’ societal contributions—has become more significant. Despite improvements in community involvement and environmental sustainability, Purpose remains the lowest-performing driver compared to Ability, Integrity, and Dependability.

Key drivers of trust continue to be banks’ financial strength, technological innovation, and product quality. The industry has also made strides in accountability, customer relations, and transparency. However, the report suggests that banks could further enhance trust by focusing on customer centricity and ethical conduct.

For the first time, the BTIS report included studies on financial literacy and scam management, recognising banks’ efforts in these areas as crucial for fostering trust. The ABS plans to use these findings to bolster customer protection against scams and enhance community support through initiatives like the $4m Industry Community Giveback Programme.

ABS Chairman and Group CEO of OCBC Bank, Helen Wong, expressed optimism, stating, “We are heartened by the robust trust that the public places in banks in Singapore, and with it, the rising expectations for us to do more for the common good.”
“`

Singapore has taken a significant step towards transforming its economy with the release of a consultative paper titled “Skills-First: Are We There Yet?” The paper, launched on 20 May 2025, calls for a coordinated, multi-stakeholder approach to foster a skills-powered economy. This initiative, led by the Institute for Adult Learning (IAL), aims to address the structural barriers hindering the adoption of skills-first practices.

The paper identifies five key barriers: signalling failures, coordination deficits, risk asymmetry, measurement gaps, and cultural resistance. These challenges have kept workforce systems entrenched in qualification-first thinking, leaving 100 million workers globally underemployed due to skills mismatches, as reported by the World Economic Forum in 2024.

Highlighting successful global interventions, the paper points to Sweden’s Job Security Councils and New Zealand’s micro-credentials system as models for addressing these inefficiencies. It also notes PwC’s skills-first workforce strategy, which improved internal mobility and reduced hiring time by 45%.

Since the SkillsFuture Movement’s inception in 2015, Singapore has made strides in updating higher learning mandates and engaging employers to drive skills-first practices. Initiatives include national jobs-skills taxonomies and digital tools to enhance skills signalling.

The paper emphasises that realising a skills-first ecosystem requires rethinking how skills are valued and applied across the system. It calls for stakeholders to engage in a national conversation, facilitated by IAL-led roundtables, to shape Singapore’s future as a skills-powered economy.
“`

Singapore’s rental market continued to show resilience in April 2025, with both condominium and Housing Development Board (HDB) rental volumes rising despite increasing prices.

According to the latest report by 99.co and SRX, rental prices for private condominiums increased by 0.1% month-on-month, with the Core Central Region (CCR) and Outside Central Region (OCR) seeing increases of 0.3% and 0.5%, respectively. The Rest of Central Region (RCR) remained stable.

The report highlighted a 2.7% month-on-month increase in condo rental volumes, with 6,088 units rented in April. Year-on-year, rental prices rose by 2.5%, with the OCR leading the growth at 2.9%. Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that “prospective tenants are displaying increased price sensitivity and demonstrating greater reluctance towards premium asking rates.”

In the HDB segment, rental prices rose by 0.3% from March, with Mature and Non-Mature Estates seeing increases of 0.4% and 0.2%, respectively. The demand for 3-room and 4-room flats was particularly strong, with prices rising by 0.3% and 0.7%. However, Executive flat rentals saw a decline of 0.9%.

HDB rental volumes increased by 5.9% month-on-month, with 2,881 flats rented in April. Despite this, year-on-year rental volumes were down by 3.4%. The report suggests that the shift towards HDB flats may be driven by tighter household budgets amidst global economic uncertainty.

Overall, the rental market’s upward trajectory in both volume and price indicates a robust demand, although tenant preferences are shifting towards more cost-effective options. As the market adapts to these changes, further fluctuations in rental dynamics are expected.
“`

The Singapore Department of Statistics has unveiled the Quarterly Wholesale Trade Index for the first quarter of 2025, revealing a 7.2% decrease in domestic wholesale sales compared to the same period last year.

When excluding petroleum, the decline in domestic sales is slightly steeper at 7.8%. In contrast, foreign wholesale sales have shown a positive trend, rising by 1.1% over the same timeframe. Excluding petroleum, foreign wholesale sales experienced a more significant increase of 7.7%.

“`

Income Advisory Financial Advisers (IAFA), a subsidiary of Income Insurance Limited, has announced a strategic partnership with Arta Finance, a digital wealth management platform, to offer sophisticated investment opportunities to Singapore’s accredited investors. This collaboration will provide IAFA clients with access to private markets and structured products typically reserved for ultra-high-net-worth individuals.

The partnership will also see IAFA leveraging Arta’s advanced AI tools to enhance personalised investment strategies. Grace Yong, CEO of IAFA, stated, “This partnership with Arta gives our accredited investors access to financial instruments that are typically out of reach for them, except for the wealthiest.”

Arta Finance, founded by former Google executives, aims to democratise access to elite financial services. Amanda Ong, Country Head, Singapore at Arta Finance, noted, “Our platform is purpose-built to serve the needs of accredited investors and opens up a much wider universe of investment opportunities.”

This collaboration marks Arta’s first financial advisory partnership and a significant milestone in its B2B journey. The partnership is set to provide exclusive offerings to IAFA’s accredited clients this quarter, further enhancing the financial advisory firm’s service delivery.
“`

Gene Solutions has unveiled SPOTMAS Lung, an innovative blood-based test powered by artificial intelligence (AI) and multiomics analysis, designed to enhance early lung cancer detection in Asia. This new test is particularly significant for asymptomatic individuals and those with inconclusive imaging results, who are often overlooked by traditional screening methods.

Lung cancer remains a major health concern in Asia, accounting for 62% of global lung cancer deaths. Alarmingly, nearly half of the patients in the region are diagnosed at a metastatic stage, where curative treatment is often not possible. Early detection, however, can dramatically improve survival rates, making the SPOTMAS Lung test a crucial development.

The test analyses circulating tumour DNA (ctDNA) shed by cancer cells, using a multiomics tumour atlas and AI models trained on Asian population data. This approach aims to make advanced testing more affordable whilst maintaining high sensitivity and specificity. Notably, the test has shown no significant difference in performance between smokers and non-smokers, making it particularly useful in regions where lung cancer in never-smokers is prevalent.

Gene Solutions has partnered with 365 Cancer Prevention Society and Bethesda Medical Centre in Singapore to offer free tests as part of a public health initiative. This collaboration aims to increase awareness and expand access to early detection, aligning with Gene Solutions’ mission to provide accessible, precision-based cancer screening.

A multicentre validation study is planned in Singapore to further assess the test’s performance. Prof Anand Sachithanandan, Founding President of Lung Cancer Network Malaysia, highlighted the test’s potential to address the unmet need for early diagnosis in high-risk non-smokers.
“`