Industry News

The iEdge Singapore Next 50 Liquidity Weighted Index has outperformed the Straits Times Index (STI) with a 9.7% total return in 2026 through to 16 April, compared to STI’s 8.9%. This performance highlights the growing influence of technology stocks within the index. UMS Integration and iFAST Corporation, leading the technology sector, have weights of 5.6% and 5.0%, respectively, contributing to technology’s 19% share of the index.

The index’s 50 constituents have seen a 43% increase in average daily turnover, reaching S$275m, and a rise in median price-to-book ratio from 1.05x to 1.23x. This liquidity-driven approach contrasts with traditional market capitalisation methods, allowing stocks with consistent trading activity to hold greater index weight.

UMS Integration exemplifies this trend, with its weight in the liquidity index at 5.6%, compared to 2.4% in the market capitalisation index. This reflects its sustained traded value and participation, particularly in the AI-driven semiconductor sector, where it has invested over S$155m in recent years.

The index’s composition, weighted by six-month median traded value, showcases where market attention is concentrated, rather than just company size. As technology and digital infrastructure sectors grow, they are increasingly shaping the liquidity landscape, alongside traditional real estate investment trusts (REITs). This shift underscores the evolving dynamics of Singapore’s mid-cap market.

Sanofi and DKSH have announced a strategic partnership to improve access to cardiovascular treatments in Malaysia, Singapore, and Thailand, and diabetes treatments in Singapore and Thailand. This collaboration combines Sanofi’s scientific expertise with DKSH’s regional commercial capabilities to address the growing burden of chronic diseases in Southeast Asia.

The partnership comes as healthcare systems in the ASEAN region face challenges from ageing populations and increasing demand for quality care. Cardiovascular disease and diabetes are among the most prevalent non-communicable diseases in the area. By leveraging DKSH’s end-to-end services, the collaboration aims to provide integrated, value-driven healthcare solutions tailored to local needs.

Eric Mansion, General Manager Pharma Southeast Asia and India at Sanofi, stated, “This partnership with DKSH is a meaningful step in strengthening how we serve patients. With DKSH’s proven healthcare expertise and strong commercial capabilities in Southeast Asia, we can broaden access to established treatments, enhance the experience for healthcare professionals and patients, and stay agile as market needs evolve.”

Patrik Grande, Global Head of Business Unit Healthcare at DKSH, expressed enthusiasm for the partnership, highlighting DKSH’s capabilities in customer insights and omni-channel engagement. “Through this collaboration, we aim to help improve access to treatment as part of our mission to deliver better healthcare for all,” he said.

The collaboration is set to ensure continuity of care, strengthen stakeholder partnerships, and support sustainable healthcare outcomes across the region, reflecting a shared commitment to patient-centric care.

OCBC, Lion Global Investors, and DigiFT have launched Southeast Asia’s first on-chain tokenised physical gold fund, the OCBC-LionGlobal Physical Gold Fund Token (GOLDX token). Available on the Ethereum and Solana blockchains, the fund allows institutional and corporate accredited investors to subscribe using stablecoins or fiat currencies, with tokens delivered directly to blockchain wallets.

The GOLDX token operates within a regulated environment, backed by the Monetary Authority of Singapore (MAS)-regulated entities, ensuring strong governance and risk management. This initiative provides investors with exposure to the LionGlobal Singapore Physical Gold Fund, which has seen significant growth, managing S$669.4m (US$525.9m) in assets as of 16 April 2026.

OCBC led the structuring of the GOLDX token, collaborating with DigiFT for tokenisation and distribution, whilst Lion Global Investors managed the investment framework. The token is expected to attract demand from Web3 participants, including family offices and high-net-worth individuals, who hold substantial capital in stablecoins.

Kenneth Lai, Head of Global Markets at OCBC, highlighted the strategic importance of this launch, stating, “We believe digital assets will play an increasingly important role in financial services.” Teo Joo Wah, CEO of Lion Global Investors, emphasised the fund’s robust governance, whilst Henry Zhang, CEO of DigiFT, noted the advancement in accessing gold through a regulated digital format.

This development aligns with Singapore’s ambition to be a hub for digital asset activities, enhancing efficiency and economic value.

CapitaLand Integrated Commercial Trust (CICT), Singapore’s largest commercial real estate investment trust, has announced the divestment of Asia Square Tower 2 for S$2.5b and the acquisition of Paragon, a premier freehold integrated development on Orchard Road, for S$3.9b. The acquisition is expected to yield a 3.9% entry return and is partially funded by the capital from the strategic divestment of Asia Square Tower 2, which had an exit yield of 3.0%.

The acquisition of Paragon is anticipated to enhance CICT’s portfolio, delivering a 2.1% increase in distribution per unit (DPU). Paragon, comprising retail, office, and medical suites, is expected to bolster CICT’s position in Singapore’s commercial real estate market. The CEO of CICT’s manager, Tan Choon Siang, highlighted Paragon’s strategic location and its potential to sustain strong occupancy rates, driven by factors such as an ageing population and rising medical tourism.

The divestment of Asia Square Tower 2, sold to IOI Marina View Pte. Ltd., represents a 9.9% premium over its market valuation as of December 2025. This move allows CICT to redeploy capital into Paragon, maintaining a prudent aggregate leverage of 39.2%, well below the regulatory limit of 50%.

The acquisition, subject to unitholder approval, aims to reinforce CICT’s market leadership and enhance income resilience. The transaction is expected to be completed in the second half of 2026, with further details to be provided at an upcoming extraordinary general meeting.

Singapore’s Executive Condominium (EC) market reached a new milestone in March 2026, with sales surpassing the S$2m mark, according to Realion (OrangeTee & ETC) Group. The surge follows a significant rebound in new sales transactions post-Lunar New Year, with three new projects launched, including an EC in Tampines.

Data from the Urban Redevelopment Authority (URA) revealed that new private home sales, excluding ECs, soared by 428.5% from February to March, reaching 1,300 units. Year-on-year, this marks a 78.3% increase from March 2025. Including ECs, total new home sales jumped 628.2% month-on-month to 1,937 units.

The EC market saw 275 units sold for at least S$2m, setting a monthly record. The Rivelle Tampines project was a significant contributor, with 530 of its units sold. “Rivelle Tampines drew strong interest from first-time homebuyers and HDB upgraders,” noted Christine Sun, Chief Researcher & Strategist at Realion.

March’s sales were bolstered by the launch of Rivelle Tampines, River Modern, and Pinery Residences. Pinery Residences emerged as the best-selling project with 543 units sold. River Modern also performed well, selling 416 units due to its prime location in the Core Central Region.

Looking ahead, the suburban market is expected to see more activity in April with the launch of Vela Bay and Tengah Garden Residences. Despite geopolitical tensions, demand remains robust, supported by low interest rates and strong employment. Investors continue to show interest in luxury properties, viewing Singapore as a “safe haven” for wealth preservation.

Amber Group, a leader in digital assets, has unveiled its strategic vision for the future of financial services at the Ethereum Community Conference (ETHCC). The company is pioneering a shift from traditional fintech interfaces to an AI-driven “Agent Economy,” where financial services are delivered through autonomous systems rather than standalone platforms.

This transformation is driven by the evolution of artificial intelligence from simple chatbots to sophisticated workflow engines capable of executing comprehensive financial tasks. Michael Wu, Co-Founder and CEO of Amber Group, stated, “We are moving from an interface economy to a workflow economy where personalisation is the standard and code is cheap.”

Amber Group is developing agent-native operating systems designed to autonomously coordinate user intent, liquidity, and execution, similar to how cloud services simplified web server complexities. This innovation positions Amber Group as a key player in bridging traditional finance with blockchain advancements.

The company’s active participation at ETHCC highlights its commitment to collaborating with European builders and policymakers to establish standards for this new financial era. By deploying these agent-native systems, Amber Group aims to solidify its role as a gateway between traditional finance and blockchain innovation.

Headquartered in Singapore, Amber Group offers a range of services including wealth management, asset management, and market making. The firm leverages AI, blockchain, and quantitative research to deliver tailored solutions to a diverse global clientele, optimising returns across various market conditions.

Sanli Environmental Limited has announced the acquisition of new contracts worth approximately S$14m across both private and public sectors in Singapore. The contracts, secured between 1 January and 31 March 2026, include engineering works, system upgrades, and maintenance services within the water and environmental infrastructure sector.

The majority of these contracts, valued at around S$13.7m, were awarded by Sanli’s major customer for maintenance-related services over a three-year period. This development follows a successful 2025, during which Sanli secured approximately S$590m in new engineering, procurement, and construction (EPC) contracts, elevating its order book to unprecedented levels.

Chief Executive Officer Sim Hock Heng highlighted the significance of 2026 as the company’s 20th anniversary, marking two decades of contributions to Singapore’s water and environmental infrastructure projects. “We believe that the contracts secured during this 3-month period reflect the strength of our established capabilities and track record,” he stated.

Sanli’s focus now shifts to the timely execution of these projects, with an emphasis on maintaining quality, safety, and operational standards. The company also aims to enhance margins through disciplined cost control. Established in 2006 and listed on the SGX-Catalist in 2017, Sanli specialises in water and waste management, offering integrated engineering solutions.

Looking ahead, Sanli plans to diversify its business to develop multiple revenue streams and seize new opportunities within the regional environmental industry.

Geo Energy Resources Limited has announced the successful full subscription of its recent share placement, raising approximately S$18.4m. The placement involved 35 million new ordinary shares priced at S$0.525 each. The majority of these shares were taken up by prominent institutional funds and top-tier investors, including Asdew Acquisitions, ICH AM Funds, and Han Seng Juan.

The strong interest from these investors highlights their confidence in Geo Energy’s strategic direction and growth potential. The company’s market capitalisation has surpassed S$1b, with a closing share price of S$0.615 on 15 April 2026. KGI Securities (Singapore) Pte. Ltd. acted as the placement agent for this exercise.

Geo Energy plans to use the proceeds to bolster its financial position, enhance production capacities at its PT Triaryani operations, and explore expansion opportunities. The company has recently achieved significant milestones, including securing term sheets for haulage volumes and receiving approvals for coal production targets.

Executive Chairman and CEO Charles Antonny Melati expressed pride in the demand from reputable investors, stating, “This reflects their confidence in Geo Energy’s strategic direction, growth prospects, and ability to execute our plans.”

Looking forward, Geo Energy aims to continue scaling its operations and strengthening its market position as a leading energy and infrastructure group in Asia. The company is also set to complete the MBJ Integrated Infrastructure project and increase its coal production capabilities.

InnoTek Limited, listed on the Singapore Exchange (SGX), has successfully completed a private placement raising S$16m to fuel its expansion into artificial intelligence (AI) and new energy sectors. The funds will support the company’s strategic initiatives as it seeks to capitalise on emerging opportunities in these rapidly growing industries.

The private placement marks a significant step for InnoTek as it positions itself to leverage advancements in AI technology and the increasing demand for sustainable energy solutions. This financial boost is expected to enhance the company’s capabilities and competitiveness in these fields.

InnoTek’s management expressed optimism about the company’s future prospects. “This capital injection will enable us to accelerate our growth plans and strengthen our market position in AI and new energy sectors,” the company stated in the press release.

The move comes at a time when both AI and new energy sectors are experiencing substantial growth, driven by technological advancements and a global shift towards sustainability. By investing in these areas, InnoTek aims to tap into new revenue streams and diversify its business operations.

The completion of the private placement underscores InnoTek’s commitment to innovation and its strategic focus on sectors with high growth potential. As the company embarks on this new phase of expansion, it is poised to make significant strides in AI and new energy, potentially reshaping its business landscape in the coming years.

Private developer sales in Singapore surged in March 2026, reaching their highest level since October 2025. A total of 1,300 new private homes were sold, a significant increase from the 246 units sold in February and a 78.3% rise year-on-year from March 2025, according to CBRE Research. This surge followed the launch of 1,043 new units, a stark contrast to the mere 15 units launched in February.

The strong sales performance was largely attributed to two major new launches: River Modern at River Valley Green and Pinery Residences at Tampines Street 94. These projects accounted for 74% of the total sales in March. Pinery Residences led with 543 units sold at a median price of $2,547 per square foot (psf), whilst River Modern sold 416 units at a median price of $3,220 psf.

Despite the economic uncertainty stemming from the Middle East conflict, homebuying interest remained robust, partly due to low mortgage rates. The Outside Central Region (OCR) led sales with 665 units, followed by the Core Central Region (CCR) with 472 units, and the Rest of Central Region (RCR) with 163 units.

Looking ahead, CBRE Research anticipates continued strong interest in upcoming launches, such as Vela Bay in the Bayshore district and Tengah Garden Residence in Tengah. However, potential buyers may exercise caution due to inflationary pressures and geopolitical tensions. CBRE projects that 7,500 to 8,500 new homes will be sold in 2026, with private home prices expected to grow by 2% to 4%.