Industry News

The Assembly Place Holdings Ltd. (TAP), Singapore’s largest community living operator, has announced a joint venture with S11 Granuity Management to establish a new migrant worker dormitory at 2 Seletar North Link. This facility, housing approximately 886 beds, will be the first in Singapore to adopt a community-driven approach, aiming to enhance living standards for migrant workers through structured welfare management and technology-enabled operations.

The joint venture company (JVC), with TAP holding a 60% stake and S11 the remaining 40%, will leverage TAP’s expertise in community-driven living solutions and S11’s experience in managing foreign worker dormitories. This collaboration marks TAP’s entry into its sixth living sector and the launch of its seventh brand, “Habitat,” further diversifying its portfolio.

Eugene Lim, TAP’s Executive Director and CEO, stated, “This joint venture reflects TAP’s commitment to expand our community-driven living model across diverse accommodation sectors. We believe worker housing deserves the same structured social programming, experience, and governance standards as any other living asset class.”

Johnathan Cheah, Director of S11, expressed confidence in the partnership’s potential to improve resident welfare and operational excellence. The initiative aligns with TAP’s strategy to expand its portfolio to over 10,000 keys by 2030, enhancing its position as a leader in community living.

The new dormitory will offer purpose-driven programmes to foster social cohesion, setting a new benchmark in migrant worker accommodation in Singapore.

Mitsubishi Logisnext Asia Pacific has announced a rebranding to Logisnext Asia Pacific, effective from 30 April, as part of a strategic alignment with Mitsubishi Logisnext Co Ltd’s global vision. This change is a significant step in the company’s ongoing transformation under the Logisnext Vision 2035, which includes a partnership with Japan Industrial Partners to support sustainable growth and long-term value creation.

The rebranding will not affect the company’s commitment to its customers and dealer partners. Yasumitsu Baba, Managing Director of Mitsubishi Logisnext Asia Pacific, assured that the company will continue to provide reliable equipment and trusted services. “We will continue to provide reliable equipment, trusted services, and solutions that drive customer success whilst further strengthening our global alignment,” Baba stated.

Logisnext operates through four regional hubs, including Asia Pacific, China, and South Africa (APACCSA), enabling it to cater to local customer needs effectively. The rebranding will see Mitsubishi Forklift Trucks transition to Logisnext Forklifts in the APACCSA region over the coming years, maintaining the brand’s reputation for reliability, quality, and value for money.

Throughout this transition, Mitsubishi Logisnext Asia Pacific is prioritising stability and consistency for its dealer partners and customers. Current support teams and service structures will remain unchanged to ensure a seamless process for all stakeholders. The company, headquartered in Singapore, continues to offer a comprehensive portfolio of materials handling solutions, backed by an extensive dealer network.

Global technology company EBANX is set to inaugurate its Asia-Pacific headquarters in Singapore on 24 March, enhancing its footprint in the region. The new HQ will serve as a payments product and regulatory centre, supporting over 100 enterprise merchants, including AliExpress and Canva, in their expansion into emerging markets. EBANX forecasts a 30% growth in Total Payment Volume (TPV) for APAC merchants in 2026, driven by increased consumer and business purchases across more than 20 emerging markets.

In 2025, 36% of EBANX’s TPV was attributed to APAC companies. The company, founded in Brazil, has been expanding its presence in Asia, maintaining its largest office outside Brazil in Shanghai since 2019 and establishing a dedicated team in India in 2024. EBANX also obtained a Major Payment Institution licence from the Monetary Authority of Singapore last year.

João Del Valle, CEO and co-founder of EBANX, highlighted the company’s commitment to strengthening South-South ties and building resilient global partnerships. “We keep seeing a strong expansion movement of APAC merchants into emerging markets, especially in Latin America and Africa,” he said.

The Singapore HQ will house 25 professionals, including senior leaders in engineering, technology, and compliance. Eduardo de Abreu, EBANX’s Chief Product Officer, was recently appointed CEO of EBANX Singapore and will lead the new centre. The headquarters aims to drive global market expansion, supporting North American and European companies in reaching fast-growing economies like India and the Philippines.

Pan Pacific Hotels Group (PPHG) has announced a significant enhancement to its executive leadership team as it gears up for a new phase of global expansion. The appointments, revealed on 11 March 2026, are designed to strengthen leadership depth, succession planning, and executional capability across the group’s core areas.

The newly appointed executives include Craig Bond as Chief Operating Officer, Celine Du as Chief Commercial and Marketing Officer, and Kate Loh as Head of Development. They join existing senior leaders Andreas Sungaimin, Senior Vice President (SVP) of People and Culture, Valerie Foo, SVP of Finance, and Wee Wei Ling, Executive Director of Sustainability Partnerships, Lifestyle and Asset.

Under the leadership of CEO Choe Peng Sum, the enhanced team aims to leverage their combined expertise in operations, commercial strategy, finance, development, brand-building, and talent management. This strategic move is intended to provide the necessary scale, cohesion, and discipline to support PPHG’s expanding global presence and evolving brand portfolio.

Choe Peng Sum commented, “As PPHG enters its next phase of growth, the strength of our leadership team is critical. These appointments reflect the depth and maturity of the leadership bench we have been deliberately building.”

The strengthened leadership team is expected to navigate the evolving hospitality landscape and changing customer expectations, positioning PPHG for sustained growth and innovation in the industry.

Princeton Digital Group (PDG), a leading data centre operator in Asia, has announced plans to raise up to US$5b in debt financing this year. The funds will support the company’s rapidly expanding hyperscale platform across the region, where PDG currently operates in seven markets with a portfolio exceeding 18 gigawatts (GW). As part of this initiative, PDG has secured US$350m in debt financing, expanding its existing US$400m HoldCo loan to a total of US$750m.

The expanded HoldCo facility has been converted into a Sustainability-Linked Loan, aligning its pricing with operational and sustainability performance targets. This recent financing was secured from a consortium of global banks, including Barclays, BNP Paribas, Deutsche Bank, HSBC, SMBC, Societe Generale, and Standard Chartered. The funds will be used to develop capacity and build new campuses to support PDG’s hyperscale customer commitments.

Rangu Salgame, Chairman, CEO, and Co-founder of PDG, stated, “Our business momentum and delivery excellence continue to strengthen confidence among our capital partners. The expansion of our HoldCo facility reflects continued support for our execution discipline and track record across markets.” He added that converting the facility into a sustainability-linked structure demonstrates PDG’s commitment to embedding sustainability metrics into its capital framework.

Headquartered in Singapore, PDG operates data centres in Singapore, Japan, India, Indonesia, China, Malaysia, and South Korea, powering the expansion of hyperscalers and enterprises in Asia Pacific’s fastest-growing digital economies.

BDx Data Centres has become the first in Singapore to fully implement the Tropical Data Centre Standard (SS 697:2023) developed by the Infocomm Media Development Authority (IMDA). This initiative, executed at BDx’s SIN1 facility in Paya Lebar, optimises operating temperatures to reduce cooling energy use, advancing Singapore’s Green Data Centre Roadmap.

In tropical climates like Singapore, cooling can account for up to 40% of a data centre’s power bill. By safely increasing the operating temperature from 23°C to 25°C, BDx has achieved a 7% reduction in cooling energy consumption. This move sets a new operational benchmark for data centres across Southeast Asia, where power resources are limited.

The SIN1 facility’s Temperature Increase Programme (TIP), initiated in 2025, was supported by continuous monitoring of thermal, humidity, and workload conditions. This approach aligns with both IMDA guidance and global ASHRAE standards, maintaining 100% uptime. Mayank Srivastava, CEO of BDx, stated, “Improving energy efficiency in tropical environments requires disciplined execution and a data-driven approach.”

BDx’s adoption of the Tropical Data Centre Standard is part of its broader strategy to build resilient, future-ready infrastructure across the Asia Pacific. The company has also deployed an AI-driven digital twin capability to enhance cooling performance under tropical conditions, further supporting efficiency and thermal stability.

Additionally, BDx is collaborating with customers to utilise Singapore’s Energy Efficiency Grant, which aids in adopting energy-efficient IT equipment. This reinforces the objectives of SS 697:2023 and contributes to Singapore’s decarbonisation goals, positioning BDx as a leader in next-generation data centre innovation.

Singapore has made history by becoming the first World Health Organisation (WHO) Member State to achieve the highest maturity level (ML4) in the regulation of medical devices. This significant milestone, announced on 11 March 2026, highlights Singapore’s robust and continually improving regulatory system, ensuring the quality and safety of medical devices such as thermometers, blood pressure monitors, and surgical tools.

The Health Sciences Authority (HSA) of Singapore was assessed by a team of international experts led by WHO, in collaboration with the WHO Regional Office for the Western Pacific and the WHO Representative Office for Malaysia, Brunei Darussalam, and Singapore. This evaluation took place in February 2026.

Adjunct Professor Raymond Chua, CEO of HSA, expressed pride in the achievement, stating, “Together with our ML4 status for medicines and as a Stringent Regulatory Authority for high-risk in-vitro diagnostics, this milestone reflects HSA’s sustained effort to build a robust and forward-looking regulatory system that safeguards patients whilst enabling timely access to innovative health products.”

Dr Rabindra Abeyasinghe, WHO Representative to Malaysia, Brunei Darussalam, and Singapore, praised the achievement, noting it as a landmark in public health that sets a precedent for other nations. He emphasised the importance of strong regulatory systems in ensuring patient safety and access to effective health products.

Singapore’s achievement builds on its designation as a WHO-Listed Authority in 2023, underscoring the critical role of regulatory systems in advancing equitable access to quality medical products globally. The WHO benchmarking framework evaluates regulatory authorities on over 260 indicators, ensuring continuous improvement in national regulatory systems.

Dreame Technology, a leading global premium technology brand, is set to unveil its 2026 flagship products at the IT Show from 12 to 15 March at Suntec Singapore Convention & Exhibition Centre. The showcase will feature the X60 Ultra robot vacuum, H16 Pro Steam Pocket, and the innovative Air Station vacuum, among others. Attendees can explore Dreame’s full range of products and enjoy exclusive promotions at Booth 8103, Level 4.

The X60 Ultra, Dreame’s flagship robot vacuum, is designed for modern households, particularly young families and pet owners. With a height of just 7.95 cm, it can clean under low furniture and navigate obstacles up to 8.8 cm high. It boasts 36,000 Pa of suction power and advanced AI obstacle avoidance, making it ideal for high-traffic homes.

Dreame is also introducing the Air Station, an ultra-slim automatic dust-collection vacuum. This pen-style device offers strong suction, longer runtime, and efficient filtration, all whilst being lightweight and easy to manoeuvre. It features a dual-roller brush for seamless cleaning and motorised blades to prevent hair tangling.

In addition to cleaning appliances, Dreame is launching the FP10 Furcatch Air Purifier, which features self-cleaning technology and high-efficiency formaldehyde removal. The PT60 Tasti Air Fryer, praised for its design and functionality, will also be available in Singapore.

Dreame’s participation in the IT Show highlights its commitment to innovation and quality in home appliances, aiming to enhance everyday living through technology.

SIA Engineering Company Limited (SIAEC) has announced that its wholly-owned subsidiary, SIAEC Global Private Limited, has successfully acquired a 30% stake in Arport Aircraft Maintenance & Engineering (Fujian) Co., Ltd. (Arport AME) for RMB129m. This acquisition was achieved through a public tender administered by the Xiamen Equity Exchange Centre.

The investment will lead to the formation of a joint venture (JV) with Arport AME’s direct shareholders. The JV is set to provide maintenance, repair, and overhaul services, including line maintenance and ground services at airports in Xiamen, Fuzhou, Wuyishan, and Longyan, as well as base maintenance services at Xiamen airport.

SIAEC, a major provider of aircraft maintenance, repair, and overhaul services in the Asia-Pacific region, has a client base of over 80 international carriers and aerospace equipment manufacturers. The company operates in more than 30 airports across nine countries and holds approvals from 27 national aviation regulatory authorities.

The transaction is not expected to significantly impact SIAEC’s net tangible assets per share or earnings per share for the financial year ending 31 March 2026. Additionally, none of SIAEC’s directors or controlling shareholders have any direct or indirect interest in the transaction, aside from their shareholdings in the company.

This strategic move aligns with SIAEC’s ongoing efforts to expand its service offerings and strengthen its presence in the aviation maintenance sector.

CBRE has announced the sale of a portfolio of five retail assets in Singapore, comprising two HDB coffeeshops, one HDB shophouse, and two strata retail units. The sale, conducted through an Expression of Interest exercise, will close on 15 April 2026. These properties are strategically located in high-density areas such as Tanjong Pagar, Orchard, Jurong East, and Marine Parade, ensuring high footfall and commercial activity.

The portfolio includes two HDB coffeeshops and a shophouse, which are highly sought after due to their scarcity and potential for rental premiums. The remaining strata-titled retail units are situated in The Centrepoint and Parkway Parade, two of Singapore’s iconic shopping destinations. The guide price for the entire portfolio is approximately S$30.92m, with options for collective or individual acquisition.

Clemence Lee, Executive Director of Capital Markets at CBRE, highlighted the rarity of such assets, noting, “HDB coffeeshops remain one of Singapore’s most exclusive asset classes.” With only 402 privately-held HDB shophouses approved for coffeeshop use, this sale presents a unique investment opportunity. Lee anticipates strong interest from a diverse range of investors, including owner-occupiers, real estate funds, and high net worth individuals. The portfolio offers potential for individual sales as an exit strategy, appealing to investors seeking lower investment quantum.