Industry News

Olam Agri has released its first Annual Report, titled ‘Building a Brighter Future’, marking a significant milestone following the Saudi Agricultural and Livestock Investment Company’s (SALIC) acquisition of a majority stake in April 2026. The report showcases the company’s impressive performance in 2025, with record sales volumes, increased revenues, and market share gains across key product categories.

The report outlines Olam Agri’s strategic expansion in high-demand markets, driven by a robust operating model and strong financial backing. The company aims to enhance its global food system relevance by focusing on opportunities that bolster its capabilities and market position, whilst creating sustainable long-term value.

A key feature of the report is Olam Agri’s refreshed sustainability strategy, which is part of its Sustainable Futures Plan. This initiative targets climate, nature, and livelihoods, aiming to make the food and agricultural sector more sustainable and secure. The report details specific progress towards these goals, emphasising transparency with additional sustainability and climate-related data.

Sunny Verghese, Co-Founder and CEO, commented, “We sustained our performance and growth in 2025, whilst beginning a transformative new chapter that will enhance our capabilities as a differentiated global agri-business and fully integrated food security leader.”

Olam Agri’s commitment to fostering an inclusive workplace has been recognised by the Top Employers Institute in 10 countries, with certification for the sixth consecutive year in Africa. This recognition underscores the company’s dedication to high-performance culture and impactful people practices.

The Singapore office market demonstrated resilience in Q2 2026, with renewal-led demand bolstered by limited supply in the Central Business District (CBD), according to Knight Frank Singapore. Despite geopolitical uncertainties, the city-state’s reputation as a safe-haven continues to attract interest in prime assets, with rents for prime office spaces increasing.

Rents for prime grade office spaces in the Raffles Place and Marina Bay areas rose by 1.0% quarter-on-quarter, reaching an average of S$11.69 per square foot per month. Occupancy in these areas remained stable, with a slight dip to 96.7%, whilst overall CBD occupancy increased to 95.3%.

The demand for office space is driven by external uncertainties and a lack of new supply, as the government has not released land for office development in the CBD. This has led to a preference for stability over expansion among occupiers, with relocation costs being a significant barrier. Tridiana Ong, Head of Occupier Strategy and Solutions at Knight Frank Singapore, noted that “renewals were executed more out of necessity than expansion.”

The flight-to-quality trend continues, with companies seeking well-located, newer Grade A buildings. However, older buildings without modern amenities face increased vacancy risks. Some firms, like ByteDance, are considering decentralised locations, such as Mapletree Business City, for cost-effective expansion.

AI-related firms are also expanding in Singapore, with OpenAI establishing its first overseas Applied AI Lab and Databricks planning to quadruple its office space. These developments highlight Singapore’s growing role as a regional hub for AI activities.

Looking ahead, Knight Frank expects market conditions to remain resilient, with rents projected to rise by 3% to 5% in 2026. Decentralised spaces are likely to capture spillover demand as CBD occupiers seek lower-cost options.

Prudential Singapore, in collaboration with the South East Community Development Council (CDC), has introduced the “Get Fit Get Lit” (GFGL) programme to equip 3,000 children with essential life skills by the end of 2027. Launched on 27 June at Siglap Community Club, the initiative targets children aged 7 to 12 in the South East District, focusing on financial literacy, climate resilience, and health education.

The programme was inaugurated by Dinesh Vasu Dash, Mayor of South East District, and Chan San San, CEO of Prudential Singapore, alongside 145 children and their families. GFGL combines classroom learning with interactive activities, teaching children the financial concepts of “Earn, Save, Spend, and Donate.” It also addresses the impacts of climate change and health risks, such as dengue, prevalent in Singapore.

Chan San San highlighted the importance of instilling these skills early, stating, “The early habits we build when we’re young stay with us and shape the decisions we make later in life.” The programme is supported by Prudential employees and financial representatives who volunteer to deliver these lessons.

South East CDC will leverage its network to roll out GFGL across up to 15 schools and community partners, including CHIJ Katong Primary and Geylang Methodist School. Mayor Dinesh Vasu Dash emphasised the value of community partnerships in nurturing young individuals, saying, “We hope to give as many children as possible a strong foundation for the future.”

Building on Prudential’s ChaChing initiative, which has reached over 20,000 children since 2018, GFGL aims to foster a healthier, more resilient community through practical education.

Singapore Airlines (SIA) and Air China have signed a Memorandum of Understanding (MoU) to establish a commercial joint venture partnership, aiming to offer customers greater value and options. The agreement, signed on 29 June 2026 in Beijing, will see both airlines coordinate schedules, expand codeshare services, and enhance benefits across their frequent flyer programmes.

The partnership is set to strengthen connectivity between Singapore and China, supporting tourism and facilitating business and cultural exchanges. The airlines plan to expand their codeshare partnership to include more destinations between Singapore and mainland China, as well as within China and beyond. This will involve coordinating flight schedules, exploring joint fare products, and pursuing joint marketing and revenue-sharing arrangements, subject to regulatory approvals.

Building on their existing relationship as Star Alliance members, Air China and SIA will also enhance cooperation between their frequent flyer programmes, PhoenixMiles and KrisFlyer, allowing members to enjoy improved rewards and opportunities to earn and redeem miles across both airlines. Additionally, the carriers will exchange best practices in areas such as ground handling and in-flight service.

Air China President Qu Guangji stated, “We will further deepen our bilateral partnership, broaden the scope of codeshare arrangements, enhance frequent flyer programme synergies, and vigorously promote our joint venture initiatives.” SIA CEO Goh Choon Phong added, “Together, we will offer customers more travel options, seamless connections, and enhanced convenience on flights between Singapore and China.”

This strategic partnership is expected to bolster tourism, business, and cultural ties, fostering deeper connections and shared opportunities between the two nations.

CDW Holding Limited, listed on the SGX Mainboard, has announced promising preclinical results for its next-generation drug delivery technology, LNP-LANFA. Developed in collaboration with Neoregen Biotech, the technology showed significant improvements in targeting the spleen and reducing immunogenicity in animal studies. This advancement could address the challenges of immunogenicity and hepatotoxicity associated with conventional lipid nanoparticles (LNPs).

The animal studies, conducted by WOOJUNG BIO in South Korea, revealed that LNP-LANFA achieved a 3.4-fold increase in spleen targeting compared to traditional LNPs, whilst reducing liver accumulation by 62%. This is particularly beneficial for therapies requiring efficient delivery to immune cells, such as vaccines and cancer immunotherapies. Additionally, tests conducted by Kobe Gakuin University confirmed the technology’s low immunogenicity, suggesting its suitability for repeated administration.

CDW plans to commercialise LNP-LANFA globally, with efforts to secure early licensing deals at the BIO International Convention in June. The company has filed a provisional patent application to protect its intellectual property and intends to engage with major pharmaceutical companies for potential partnerships.

Chairman and CEO of CDW, Kato Tomonori, stated, “These animal study results are exactly the kind of data that the pharmaceutical industry has been eagerly awaiting. By overcoming the shortcomings of current technologies and achieving both a 3.4-fold shift towards the spleen and low immunogenicity comparable to saline, LNP-LANFA demonstrates a clear advantage as a next-generation drug delivery platform.”

With the global LNP market projected to grow significantly, CDW is optimistic that LNP-LANFA will become a key revenue driver, enhancing the company’s corporate value.

Singapore’s Central Business District (CBD) office rents have entered their sixth consecutive year of growth, with gross effective rents increasing by 1.1% quarter-on-quarter to SGD 12.19 per square foot per month in Q2 2026. This growth is driven by a surge in demand from AI, fintech, and professional services firms, according to JLL Research. Vacancy rates, excluding new supply, have fallen to 5.6%, the lowest in nine quarters.

The completion of Shaw Tower added new stock, slightly increasing overall CBD vacancy from 6.3% to 6.7%. However, prime locations like Marina Bay continue to see high demand, with buildings such as IOI Central Boulevard Towers nearing full occupancy. Notable companies like Databricks, A&O Shearman, and Franklin Templeton have recently expanded their presence in the area.

The Shenton Way/Tanjong Pagar sub-market is also benefiting from relocations, with firms like JTB Singapore and OOCL moving to Keppel South Central. The upcoming completion of the Prince Edward Road MRT station is expected to enhance accessibility and support rent increases.

Michael Glancy, Country CEO for Singapore & Southeast Asia, noted the shift towards premium spaces, stating, “Tenants across sectors are increasingly committing to premium, well-located spaces ahead of need.” Dr Chua Yang Liang, Head of Research and Advisory for JLL Southeast Asia, highlighted Singapore’s economic resilience and its appeal as a global financial hub.

Looking ahead, JLL maintains its forecast for a 4% growth in CBD Grade A rents for 2026, with a projected 15% cumulative growth through 2030. The continued sophistication of office projects is expected to support this trend.

Tin Men Capital, a venture capital firm based in Singapore, has announced its largest expansion since its inception, appointing Arielle Thompson as Global Head of Capital Formation and promoting John Tay to Director of Partnerships and Strategy. These appointments aim to enhance the firm’s institutional support and broaden its access to global investors interested in Southeast Asian enterprise technology.

Thompson, previously with Goldman Sachs and Northern Trust, will lead Tin Men’s global fundraising strategy from Cleveland, focusing on engaging institutional investors across North America, Europe, and Asia. Her role is pivotal in connecting global capital with Tin Men’s Southeast Asian tech portfolio. “Tin Men has built a portfolio of remarkable Southeast Asian startups,” Thompson stated, emphasising the growing global interest in the region.

John Tay, who has been with Tin Men since its early days, will now oversee the firm’s institutional strategy and regional engagement. His promotion reflects Tin Men’s commitment to internal growth and strategic partnerships. Tay remarked, “Our focus remains supporting founders and building an enduring institution that can serve the region for decades.”

Co-founders Murli Ravi and Jeremy Tan highlighted the significance of these appointments in aligning the firm’s capabilities with the ambitions of its portfolio companies. Ravi noted, “Arielle and John represent where Tin Men is headed,” whilst Tan added, “Supporting the next generation of globally significant companies requires more than capital.”

Tin Men Capital continues to back enterprise and frontier tech startups in Southeast Asia, with investments ranging from $2 to 4m in Series A companies.

CBRE has announced the sale of a rare strata-titled cinema space located in Golden Mile Tower, Singapore. The property, listed at a guide price of S$31m, is available through an Expression of Interest exercise closing on 4 August 2026. This unique asset, situated at 6001 Beach Road, offers a substantial strata area of approximately 104,991 square feet across multiple levels.

The cinema space includes four auditoriums with a total seating capacity of up to 2,000, alongside office spaces on Levels 3 and 4. Notably, the sale is open to foreigners and corporate entities without the imposition of Additional Buyer’s Stamp Duty. Joshua Giam, Director of Capital Markets at CBRE, highlighted the asset’s versatility, stating, “Such a sizeable strata commercial space in a prime location is rarely available for sale, presenting an exceptionally unique opportunity.”

Located just 200 metres from Nicoll Highway MRT Station, the property benefits from excellent public transport links and proximity to major commercial hubs like Suntec City and Marina Bay Sands. The upcoming redevelopment of Golden Mile is expected to enhance the precinct’s vibrancy, potentially boosting footfall and long-term value appreciation.

The asset’s strategic location is further complemented by access to major expressways, ensuring connectivity to key destinations such as the Central Business District and Orchard Road. CBRE anticipates strong interest from both end-users and investors looking to capitalise on the site’s potential for creative repositioning and rental uplift.

Singaporeans are increasingly concerned about their financial security in retirement, with 78% planning to rely on personal savings despite fears of outliving their money, according to Manulife Singapore’s Asia Care Survey 2026. The survey highlights a significant gap between the desire for financial independence in later life and the actions taken to secure it.

The survey, which interviewed 1,074 Singaporeans, found that whilst many adults recognise the need for diversified income sources, only 52% plan to invest for retirement. Among those seeking financial security, 43% intend to diversify across asset classes, and 34% are shifting towards income-generating investments. The primary motivations include the need for steady income to cover living expenses and the desire for independence in retirement.

Benoit Meslet, CEO of Manulife Singapore, noted, “Many are supporting families, building their own lives, and thinking about their future at the same time. This comes with real trade-offs, and it is unsurprising that many feel that their long-term planning is delayed or out of reach.”

The survey also revealed that younger adults face significant challenges, with 81% of those aged 18 to 24 and 75% of those aged 25 to 34 reporting that family responsibilities impact their financial planning. Additionally, 73% of respondents aged 18 to 24 have delayed medical care due to caregiving duties.

Despite these pressures, 92% of Singaporeans aim to remain self-sufficient in their later years, valuing privacy, autonomy, and access to quality care. However, only half undergo annual health screenings, and less than 40% maintain a consistent exercise routine.

The findings underscore the need for comprehensive financial and health planning to ensure long-term wellbeing as life expectancy in Singapore rises to 83.9 years.

Huttons Asia has announced the launch of Balestier Centre for collective sale at a guide price of $180m. The freehold mixed-use development, located at 560-568 Balestier Road, offers a land rate of approximately $1,495 per square foot per plot ratio (psf ppr), with no land betterment charge required for redevelopment.

The site spans approximately 40,133 square feet and is zoned for “Commercial & Residential” use under the Master Plan, allowing a maximum gross floor area of about 120,400 square feet. The existing development includes commercial units on the ground floor and 20 residential flats above, with a built-up area of around 47,400 square feet.

Stephen Tan, Senior Group District Director of Huttons Asia, highlighted the site’s potential: “Balestier Centre is a rare freehold mixed-use redevelopment opportunity in the established city-fringe locale of Balestier, anchored by an exceptional 81-metre frontage along the main road.”

The proposed redevelopment, subject to Urban Redevelopment Authority approval, envisions a 14-storey mixed-use landmark with commercial and residential facilities. The site benefits from its proximity to amenities such as Shaw Plaza, Zhongshan Mall, and HealthCity Novena, as well as excellent connectivity via multiple MRT stations and expressways.

The public tender for Balestier Centre’s collective sale closes on 28 July 2026 at 3:00 p.m. This sale presents a significant opportunity for developers seeking a well-located freehold plot in Singapore’s city fringe.