Industry News

General Omi Beef Trading Company, renowned for its Omi beef exports from Shiga Prefecture, Japan, is set to open its second steak speciality store, STEAK SUDAKU, in Singapore on 4 April 2025. The new establishment, located at 302 Beach Rd, will operate under the company’s subsidiary, OMIGYU TRADING SINGAPORE PTE LTD, and aims to promote the Omi beef brand in the region.

The restaurant will feature a fast-casual dining experience, focusing on Omi beef steaks as its primary offering, with an emphasis on quick service and delivery. The brand name, STEAK SUDAKU, is derived from the Chinese characters 喜达聚, which convey the idea of gathering and enjoyment.

Takaoki Nishino, CEO of General Omi Beef Trading Company, expressed enthusiasm for the new venture, highlighting the potential for franchise opportunities. The company is actively seeking franchisees to expand the STEAK SUDAKU brand further.

The store will be open from 11:00 to 15:00, with last orders at 14:30, and from 17:00 to 21:00, with last orders at 20:30. This expansion marks a significant step in the company’s strategy to establish a strong presence in Singapore’s competitive dining scene.

As the company looks to the future, the opening of STEAK SUDAKU not only broadens the reach of Omi beef but also offers potential business opportunities for local entrepreneurs interested in joining the franchise.
“`

The Straits Times Index (STI) recorded a 5.3% total return in the first quarter of 2025, according to data from the Singapore Exchange (SGX) and Refinitiv. This performance comes despite a broader market downturn, highlighting the resilience of certain sectors and stocks within the index.

Amongst the top performers in Q1 2025 were stocks with codes S63, U96, and U14, which achieved total returns of 46%, 15%, and 15% respectively. Notably, Singtel and CapitaLand Integrated Commercial Trust also showed strong performances, with both achieving 11% total returns. The STI’s robust performance was supported by a net institutional inflow of S$50m, particularly benefiting larger-cap Singapore Real Estate Investment Trusts (S-REITs).

The Lion-CM CSI Dividend Index ETF, which provides exposure to high-yielding A-Shares on the Shanghai and Shenzhen Stock Exchanges, also played a role in the market dynamics. The ETF maintains a 6.2% indicative dividend yield and includes 100 constituents selected for high cash dividend yields and stability. The Energy sector, comprising 20% of the index, aligns with China’s ongoing energy transition efforts.

Looking ahead, the outlook for US Federal Reserve rates has shifted to a more dovish stance, with expectations of further rate cuts by 2026. This could influence future market conditions and investor sentiment. Additionally, China’s retail sales growth, projected to reach 5% in 2025, may positively impact S-REITs with retail assets in the Greater China region.

In summary, the STI’s performance in Q1 2025 underscores the resilience of certain sectors amidst market volatility, with implications for future investment strategies and economic conditions.
“`

A groundbreaking AI-powered coaching assistant was unveiled at the Uncommon Leadership Academy’s showcase in Singapore, aiming to revolutionise leadership development. Hosted at CATAPULT’s Leaders Unleashed Campus, the event gathered top executives, HR professionals, and corporate decision-makers to explore this innovative tool designed to transform how leaders grow, coach, and lead.

The showcase, led by leadership expert and author Ruchira Chaudhary, offered an immersive experience with workshops and development tools. Chaudhary, co-founder of the Uncommon Leadership Academy, emphasised the importance of coaching as a leadership superpower, stating, “Our goal is to enable leaders by giving them the tools to improve themselves to then elevate their organisations.”

The AI coaching assistant provides real-time insights and executive coaching strategies, complementing human coaches rather than replacing them. Dr James Andrade, head of CATAPULT Executive Leadership and Innovation Institute, remarked, “The future of leadership is not just about skills—it’s about coaching, adaptability, and innovation.”

The event highlighted the AI assistant’s role in delivering actionable feedback and driving behaviour change across organisations. It also showcased supplementary workbooks and learning cards to support leadership development. The Uncommon Leadership Academy aims to pave the way for a new generation of leader-coaches who inspire and transform.

As businesses face a changing world, the integration of AI in leadership coaching is set to make development more personalised and effective, offering significant potential for growth across various sectors, including private equity.
“`

DFI Retail Group has announced a positive outlook for its earnings recovery in the upcoming financial year, following the divestment of its Singapore food business. The company, which is maintaining a “buy” recommendation with a new target price of $3.03, anticipates a 30% upside and a forecasted yield of approximately 5% for the financial year 2025. This strategic move is expected to alleviate the long-term earnings drag previously experienced by the group.

The decision to divest is seen as a step towards enhancing the company’s overall valuation, with the stock currently trading at an attractive 13 times the forecasted price-to-earnings ratio for 2025. The dividend yield remains appealing, bolstered by the parent company, Jardine Matheson Holdings, which traditionally uplifts dividends back to the group level.

Analyst Alfie Yeo expressed confidence in the group’s trajectory, stating, “We remain positive on DFI Retail Group’s earnings recovery expectations and attractive valuation.” This optimism is underpinned by the company’s strategic decisions aimed at streamlining operations and focusing on core areas of growth.

The anticipated recovery in earnings is significant for investors, as it signals a potential turnaround in the group’s financial performance. The move is also expected to enhance shareholder value through improved dividend yields and a stronger market position. As DFI Retail Group navigates these changes, the market will be closely watching its performance in the coming year.
“`

Colliers has announced the appointment of Steven Tan as Executive Director, Co-head of Investment Services, and Samuel Choo as Director, Investment Services in Singapore. With over 30 years of experience, Steven Tan will lead the team alongside Tan Boon Leong, focusing on positioning Colliers as a market leader in investment services. Previously, Tan led the Capital Markets & Investments Services department at ERA.

Samuel Choo, who brings over 20 years of industry experience, will concentrate on servicing existing clients and expanding the client base. Both Tan and Choo will work closely with local, regional, and global stakeholders to drive growth in inbound and outbound opportunities.

Bastiaan van Beijsterveldt, Managing Director of Colliers Singapore, expressed enthusiasm about the appointments, stating, “We are thrilled to have Steven Tan and Samuel Choo re-join Colliers. Their extensive experience in real estate and investment services, coupled with their proven success in handling transactions for investors and property owners, will significantly boost our multi-service revenue growth.”

Colliers, a global leader in diversified professional services and investment management, operates in 70 countries and manages $99 billion in assets. The appointments are expected to enhance Colliers’ relationships with institutional-grade capital, investors, and developers, further solidifying its position in the market.
“`

Singaporeans are increasingly opting for international travel during Hari Raya Puasa, with bookings rising by over 60% compared to the previous year, according to Trip.com. This year, the festive season, which ran from 29 March to 6 April, saw a notable shift towards secondary cities and long-haul destinations, alongside a preference for theme park attractions.

Whilst traditional favourites like Bangkok and Kuala Lumpur remained popular, cities such as Guangzhou and Osaka have climbed into the top 10 destinations for the first time. Additionally, demand for cities like Chongqing, Chengdu, and Busan more than doubled, reflecting a growing interest in exploring less-travelled paths. Edmund Ong, General Manager of Trip.com Singapore, noted, “As Singaporeans increasingly prioritise travel with their families during this special season, they are also approaching travel with greater intent, blending meaningful reunions with a desire to explore newer destinations.”

Beyond Asia Pacific, there was a significant increase in bookings to countries like Spain, Switzerland, and Peru, with Lima being the furthest destination booked. This trend indicates a shift towards destinations rich in culture and novelty.

The average trip length for Singaporeans increased to 9.19 days, up from 8.38 days last year, with a 5.9% rise in spending on flights and hotels. Theme parks were a major draw, with four out of the five most-booked attractions being large-scale parks in Asia. Universal Studios Japan and Hong Kong Disneyland were among the top choices, highlighting the enduring appeal of family-friendly entertainment.
“`

Mediacorp has announced the appointment of Sabrina Tan as its new Head of Sales, effective 1 April 2025. Tan, who previously served as Head of Industry Solutions, will now focus on enhancing Mediacorp’s commercial growth through multi-modal Intellectual Properties (IPs), omni-channel solutions, and outcome-based partnership models. Reporting to Chief Commercial Officer Jacqui Lim, Tan will lead efforts to deliver greater value and business accountability to clients across sectors such as Government, Banking, Retail, and Consumer Electronics.

Tan has been with Mediacorp since 2018, where she played a pivotal role in driving revenue growth by optimising sales strategies and fostering strong client relationships. Her leadership in the Out-Of-Home (OOH) team contributed significantly to the growth of digital and OOH revenue. She also spearheaded strategic partnerships with key ecommerce players and banks, and developed new Mediacorp IPs like the Singapore Property Show.

In her new role, Tan aims to streamline operations for greater agility and speed to market, whilst improving internal collaboration. “I am thrilled to embark on this next chapter at Mediacorp,” Tan stated. “As the media landscape continues to evolve, it is crucial that we remain agile and innovative.”

Additionally, Toh Dasheng and Cindy Ng have taken on new roles within the Commercial Group. Toh will become Head of Omni-Channel Solutions & Trade Marketing, whilst Ng will focus on Business Development & Emerging Business. Both will continue to report to Lim.

This restructuring is expected to enhance Mediacorp’s ability to meet the evolving demands of its clients and audiences.
“`

MariBank has unveiled its latest service, MariBank Overseas Transfers, becoming the first digital bank in Singapore to offer zero-fee remittance services to both retail and business customers. This new service aims to make overseas transfers more accessible and affordable by providing competitive foreign currency rates.

Currently available on an invite-only basis, the service supports 10 currencies across 13 destinations, with a full rollout planned for later in April. Transfers are processed immediately or within one to three business days for most destinations, enhancing cash flow and business operations.

MariBank’s initiative addresses the banking service gaps identified through surveys within its ecosystem. Over 70% of business owners surveyed expressed a need for remittance services, prioritising lower transfer costs. Maribank ensures competitive exchange rates and no extra charges, allowing businesses to save more.

For consumers, the absence of transfer, agent, and hidden fees were key factors in choosing remittance products. MariBank offers zero transfer fees for all currencies and destinations, with competitive exchange rates. The service also includes sending Chinese Yuan to Mainland China via Alipay, UnionPay, and Wire Transfers, and cost-effective transfers for currencies like Indonesian Rupiah and US Dollar.

Natalia Goh, CEO of MariBank , stated, “At MariBank , we’re deeply committed to listening to our customers and understanding their evolving needs. With products like Maribank Overseas Transfers, we’re not just providing solutions—we’re making banking more accessible, affordable, and tailored to the needs of customers.”

This launch follows the introduction of Mari Invest Income in February, reinforcing MariBank ‘s commitment to providing comprehensive financial solutions for both retail and SME customers.
“`

The Ascott Limited, a wholly owned subsidiary of CapitaLand Investment, has announced the expansion of its pet-friendly portfolio with the addition of lyf one-north Singapore. This new offering aims to cater to guests travelling with pets by providing a range of pet-centric activities, further establishing Ascott as a leader in accommodating diverse lifestyle needs.

Lyf one-north Singapore, located in the vibrant onenorth district, will host activities such as pet adoption drives, yoga sessions for pets, pet treat workshops, and obedience training. Judy Wong, Country General Manager for Singapore Operations at Ascott, stated, “We know that for many of our guests, pets aren’t just animals; they are beloved members of the family.”

The property features 324 flat units designed for mid to long-term stays and is strategically situated near major corporations and creative communities. Its proximity to onenorth MRT station and the Central Business District makes it an ideal choice for digital nomads and technopreneurs.

Ascott’s commitment to pet-friendly hospitality is also evident in other properties like Citadines Balestier Singapore and Oakwood Studios Singapore. Additionally, Ascott Star Rewards members can enjoy exclusive perks, including a special welcome kit for guests with pets.

For dining, Entrepôt at The Robertson House by The Crest Collection offers a pet-friendly culinary experience, allowing guests to dine with their pets in an alfresco setting. Nixon Low, Director of Culinary and Beverage Operations, emphasised the inclusive dining experience for both guests and their pets.

Ascott continues to enhance its global hospitality offerings, ensuring memorable stays for guests and their furry companions.
“`

The Singapore Human Resources Institute (SHRI) has announced the election of Low Peck Kem as its new President, following its 59th Annual General Meeting on 28 March 2025. Low, who previously served as SHRI’s President and is a long-time Council Member, will guide the institute as it celebrates its 60th anniversary. Her appointment is expected to enhance collaboration with government bodies and foster global partnerships.

Low Peck Kem, also the Chief Human Resource Officer at the Public Service Division and Vice President of the World Federation of People Management Associations, expressed her enthusiasm for the role. “It is an honour to return as President of SHRI as it celebrates its 60th anniversary,” she stated, emphasising SHRI’s role in promoting people-first practices.

The institute also acknowledged the contributions of outgoing President D N Prasad, who led SHRI for three years. Under his leadership, SHRI hosted significant events like the World HR Congress and launched initiatives such as the Fill A Bag, Fill A Tummy CSR event.

In a related development, Alvin Aloysius Goh has been redesignated as Chief Executive Officer (CEO) from his previous role as Executive Director. This change aligns with SHRI’s vision to expand its influence beyond Singapore. Goh will focus on strategic partnerships and enhancing SHRI’s regional presence.

These leadership changes signify a pivotal moment for SHRI as it continues to inspire and innovate within the HR community.
“`