Industry News

CapitaLand Integrated Commercial Trust (CICT) has announced the divestment of Bukit Panjang Plaza, a suburban mall in Singapore’s north-western region, for S$428m. The transaction, completed with an unrelated third party, is part of CICT’s strategy to optimise its portfolio and enhance financial flexibility for future growth. The net proceeds from the sale are expected to be approximately S$421.2m.

The divestment aligns with CICT’s ongoing efforts to reconstitute its portfolio, aiming to create value for stakeholders. “The sale of Bukit Panjang Plaza is part of our portfolio reconstitution strategy to optimise our portfolio, strengthen CICT’s financial flexibility for growth and create value for our stakeholders,” said Tan Choon Siang, CEO and Executive Director of CapitaLand Integrated Commercial Trust Management Limited.

This move is seen as a strategic step to ensure that CICT remains agile and well-positioned to seize new opportunities in the market. By reallocating resources, the trust aims to enhance returns for its unitholders and maintain a robust financial standing.

Yangzijiang Maritime Development Ltd. has announced plans to invest in up to 16 new vessels, aiming to enhance its maritime asset portfolio. The company has placed orders for six firm vessels with an option for an additional 10, which will be constructed in three Chinese shipyards. This move is set to significantly boost the company’s newbuilding portfolio to a potential total of 50 vessels.

The orders include bulk carriers, mid-range product tankers, and long-range 2 tankers, with deliveries scheduled from April 2027 to September 2029. The new vessels will feature integrated eco-features to align with International Maritime Organisation (IMO) requirements, improving both fuel efficiency and operational performance.

Ren Yuanlin, Executive Chairman and CEO of Yangzijiang Maritime, stated, “Building on our extensive experience in the maritime industry, we have identified several emerging trends that are driven by evolving market demand, fleet renewal, and efficiency requirements.”

Since its initial public offering in November 2025, Yangzijiang Maritime has been advancing its business plans, leveraging Singapore’s status as a global maritime hub. The company aims to grow sustainably by focusing on risk discipline, asset quality, and long-term value creation.

This strategic investment underscores Yangzijiang Maritime’s commitment to expanding its modern and eco-efficient fleet, positioning the company to meet future market demands and environmental standards.

Natixis Corporate & Investment Banking (Natixis CIB) has appointed Jarek Olszowka as Head of the Green & Sustainable Hub in Asia Pacific. Based in Singapore, Olszowka will spearhead the bank’s efforts in green and sustainable finance across the region, working closely with stakeholders to develop and implement sustainable financial solutions.

With over 20 years of experience in the financial services industry, Olszowka previously served as International Head of Sustainable Finance at a major Japanese financial services group. His expertise will be instrumental in advising Natixis CIB clients on their sustainability transitions and accessing capital in sustainable formats.

Orith Azoulay, Global Head of Green & Sustainable Finance at Natixis CIB, expressed enthusiasm about the appointment, stating, “We are pleased to welcome Jarek into our GSH team, bolstering our green and sustainable finance capabilities in Asia Pacific.” Azoulay highlighted the bank’s commitment to delivering innovative solutions amidst geopolitical challenges and increased scrutiny of sustainability topics.

Raghu Narain, Head of Investment Banking, Asia Pacific, added, “Jarek brings with him a wealth of experience in sustainable finance which is a valuable addition as we strive to be the ‘go-to’ financial partner for clients in their energy transition journey.”

Natixis CIB, part of Groupe BPCE, aims to align its financing portfolio with a carbon neutrality path by 2050. The bank’s strategic focus on transition financing in Asia Pacific underscores its dedication to supporting clients in reducing their environmental impact.

NTT DATA, in collaboration with Sumitomo Corporation and JA Mitsui Leasing, has announced the formation of Intra-Asia Marine Networks Co., Ltd. (I-AM NW) to construct and operate the Intra-Asia Marine Cable (I-AM Cable). This new submarine communication cable will link Japan, Malaysia, and Singapore, with planned extensions to South Korea, the Philippines, and Taiwan. The project, with an estimated cost of US$1b, aims to bolster digital infrastructure across Asia.

The I-AM Cable will span approximately 8,100km, creating a new long-haul connectivity corridor in the region. Designed to deliver an initial capacity of around 320 terabits per second (Tbps), the cable will support the increasing demand for AI, cloud services, and cross-border data traffic. It will also enhance network resilience for global tech companies and telecom operators.

Japan, positioned as a crucial data hub between Asia and the United States, will benefit from the cable’s robust communication routes originating from landing stations in Chiba, Mie, and Fukuoka. This infrastructure will provide resilience against natural disasters and reinforce Japan’s role as a data hub.

Yoshio Sato, CEO of I-AM NW, stated, “The launch of I-AM NW marks a significant step in strengthening Asia’s digital infrastructure. This project reflects our commitment to delivering reliable, flexible connectivity solutions that empower businesses and drive digital transformation across the Asia-Pacific region.”

I-AM NW will oversee the entire process from planning to sales, ensuring high-quality communication services for global tech giants and telecom operators, thereby contributing to the development of communication infrastructure across Asia.

StarHub has launched its first compact, high-velocity concept store at Suntec City, designed to cater to customers with tight schedules. The store provides fast, focused, human-led support, including quick consultations, tailored plan recommendations, and efficient service set-ups, all aimed at reducing waiting times.

Situated at Basement 1 of Suntec City, the store is strategically located near office towers and high-traffic dining areas, making it an ideal stop for those on the go. The design incorporates StarHub’s iconic green, gentle curves, and sleek metallic accents, creating a calm and intuitive space that ensures even short visits are stress-free.

The new store enhances StarHub’s retail presence across Singapore by offering convenient support in a key business hub. It complements StarHub’s existing retail formats, reflecting the company’s commitment to meeting diverse customer needs in various situations. The store operates daily from 11.00am to 9.00pm.

Customers visiting the store can also explore StarHub’s latest mobile and connectivity offerings, including the 5G Unlimited+ plans, which are tailored for busy, connected lifestyles. This initiative underscores StarHub’s dedication to providing seamless and efficient customer service, ensuring that support is readily available when time is of the essence.

Schroders and Maybank have introduced the Schroder Maybank Growth and Income-I Fund, a globally diversified multi-asset strategy aimed at Singapore investors. Managed by Schroders and distributed exclusively through Maybank Singapore, the Fund seeks to provide long-term growth and recurring income within a Shariah-compliant framework.

The Fund is designed to deliver a disciplined investment process by combining global macro insights with bottom-up research. It aims to offer a recurring monthly income, addressing the needs of investors looking to supplement their regular income streams. The Fund’s diversified exposure to global equities, sukuks, and other Shariah-compliant assets is intended to deliver better risk-adjusted returns whilst managing downside protection through active management.

Alice Tan, Head of Group Wealth Management at Maybank, stated, “The launch of the Schroder Maybank Growth and Income-I Fund reflects our commitment to values-based banking principles, which includes expanding access to Shariah-aligned investment solutions for Singapore investors.”

Katherine Cox, Head of Client Group South Asia and Global Official Institutions at Schroders, added, “This collaboration reflects our shared commitment to supporting Singapore investors with resilient strategies that deliver powerful growth and recurring income, particularly in today’s complex environment.”

The Fund will be available exclusively through Maybank Singapore branches, offering investors an agile and nimble multi-asset structure designed to adapt to shifting market conditions. This new offering aims to empower investors in Singapore to invest with greater assurance and capitalise on opportunities across market cycles.

The Maritime and Port Authority of Singapore (MPA) has announced the opening of applications for additional licences to supply liquefied natural gas (LNG) as a marine fuel in the Port of Singapore. This initiative, available to both current licensees and new entrants, follows recent updates to the LNG bunkering licensing framework, which now includes sea-based LNG reloading and the supply of liquefied bio-methane and e-methane.

Applicants must meet several key requirements, including implementing comprehensive LNG bunkering supply arrangements. These arrangements cover securing LNG supply, demand planning, cargo transfer operations, and the safe handling and delivery of LNG fuel to vessels. Additionally, licensees must own or charter at least one LNG bunker vessel registered with the Singapore Registry of Ships, adhering to MPA’s standards.

To align with international shipping’s decarbonisation efforts, applicants are required to submit proposals detailing their readiness to supply LNG fuels with lower lifecycle greenhouse gas emissions. This includes outlining supply pathways and sourcing arrangements, as well as measures to monitor and mitigate methane slip from LNG bunker vessels.

MPA, in collaboration with Enterprise Singapore, will upgrade the existing Technical Reference for LNG Bunkering to a Singapore Standard in Q2 2026. This will enhance the LNG bunkering ecosystem by aligning it with broader bunkering standards. Interested companies must submit their applications by 27 March 2026, with further details available on MPA’s website.

SC Capital Partners, a Singapore-based private equity real estate investment manager, has announced the appointment of Christopher Hur as Managing Director, Investments. Hur will lead the firm’s hospitality activities and platform strategies across the Asia Pacific region, focusing on origination, execution, and portfolio growth in the hospitality and living sectors.

Hur joins SC Capital Partners with nearly two decades of experience in hotel real estate and investment, having previously served as CEO of Lodgis Hospitality Holdings. At Lodgis, he spearheaded strategic initiatives and platform expansion. His career also includes senior roles at Host Hotels & Resorts and investment banking and real estate private equity positions at Lehman Brothers.

Suchad Chiaranussati, Chairman of SC Capital Partners, expressed confidence in Hur’s expertise, stating, “Chris brings deep expertise across hospitality real estate investment, including strong experience in building and scaling institutional platforms.” Hur himself remarked on the firm’s reputation, saying, “SC Capital Partners is one of the most established and well-respected investment managers in Asia Pacific.”

Founded in 2004, SC Capital Partners manages approximately $9b in assets, with Japan as its largest market. The firm is known for its expertise in hospitality, data centres, logistics, and living sectors. Hur’s appointment is expected to bolster SC Capital Partners’ strategic positioning in the lodging sector, aligning with the firm’s growth ambitions in the region.

The Singapore Maritime Foundation (SMF) recently hosted its annual New Year Conversations 2026, bringing together more than 250 industry leaders from the maritime sector. The event, held in Singapore, focused on discussing the global outlook, challenges, and opportunities for Maritime Singapore in the coming year. Senior Minister of State for Law and Transport, Murali Pillai, delivered the opening address, emphasising the importance of collaboration and resilience to maintain Singapore’s competitive edge in the maritime industry.

A key feature of the event was a panel discussion moderated by Andreas Sohmen-Pao, Chairman of BW Group. The panel included notable figures such as Jan Dieleman, President of Cargill Ocean Transportation; Rolf Thore Roppestad, Chairman of IG Group and CEO of Gard; Nicholas Brown, CEO of Lloyd’s Register; Harvonne Yap, Vice President of Products Freight Trading at Shell; and Jeremy Sutton, CEO of Swire Shipping. The discussion centred on the market outlook for 2026, addressing potential risks and opportunities.

Hor Weng Yew, Chairman of SMF, highlighted the foundation’s role in fostering industry collaboration. “Through platforms such as the annual New Year Conversations, the Singapore Maritime Foundation brings the industry together and provides an avenue for senior leaders across the ecosystem to connect, take stock of the industry’s developments, and share insights,” he stated.

The event underscored the SMF’s commitment to enhancing Maritime Singapore’s competitiveness and developing a skilled workforce, ensuring the sector’s growth and resilience in a complex global environment.

Olam Group Limited has announced significant progress in its efforts to sell its remaining 32.4% stake in ARISE P&L Limited. The company has secured approvals from various lenders, a crucial step towards obtaining the necessary consents from ARISE P&L shareholders and regulatory authorities. The completion of this proposed sale, initially announced on 17 April 2025, was expected by 31 December 2025, contingent on receiving all required approvals.

The sale is part of a conditional agreement between Olam International Limited and Equitane DMCC. The company has emphasised its intention to finalise the transaction as soon as practicable once all conditions are met. Olam Group has committed to keeping shareholders informed of any material developments, in line with Singapore Exchange Securities Trading Limited’s listing requirements.

Shareholders are advised to exercise caution when trading shares, as the completion of the sale is not guaranteed. The company has urged shareholders to consult professional advisers if they have any concerns regarding their investments.

Olam Group, a leading food and agri-business, continues to focus on its mission to ‘Re-imagine Global Agriculture and Food Systems’. Headquartered in Singapore, the company ranks among the top 30 largest primary listed companies on the Singapore Exchange by market capitalisation.