Industry News

Beng Kuang Marine Limited has announced a significant interest from institutional investors and reputable individuals in the recent sale of shares by one of its founders, Chua Meng Hua. The transaction, which saw participation from prominent funds such as Amova Asset Management and Tokio Marine Life Insurance Singapore, also included increased shareholdings by the company’s executive chairman and CEO.

The share sale marks a strategic move as Chua Meng Hua steps back from his executive role, although he will remain with the company during the transition. This development has not only broadened the company’s shareholder base but also enhanced liquidity, aligning with the group’s growth strategy.

Executive Chairman Chua Beng Yong and CEO Yong Jiunn Run have acquired 578,286 and 500,000 shares respectively, raising their stakes to 4.92% and 5.30%. This move underscores their confidence in the company’s strategic direction and business fundamentals. Yong Jiunn Run commented, “The strong participation from institutional funds and reputable investors, alongside increased ownership by management, reflects confidence in the Group’s strategy and underlying business fundamentals.”

Beng Kuang Marine, listed on the Singapore Exchange since 2004, continues to focus on offshore lifecycle services and related engineering activities. The company aims to build a more predictable, lifecycle-driven business, supported by a growing base of recurring work. As the group progresses into its next phase of growth, it remains committed to executing its strategy with an asset-light and service-oriented business model.

Osome, an AI-driven business management platform, has announced a notable financial turnaround for FY2025, achieving a revenue of S$26.6m. The company, focused on tech startups and freelancers in Singapore and Hong Kong, reported a 50% improvement in EBITDA losses, now at negative S$11.8m, and a 62% increase in operating cashflow. This progress is attributed to the integration of AI automation, which has enhanced service efficiency and positioned Osome on a path to profitability by 2027.

The company’s CEO, Eugenio Ferrante, highlighted the shift from basic data entry to autonomous compliance, stating, “Our FY2025 performance is a proof of concept for the future of company management.” The strategic deployment of AI tools has replaced manual tasks with scalable workflows, allowing human experts to focus on advisory roles. This has enabled Osome to serve a growing client base more efficiently.

William Chong, Osome’s Chief Financial Officer, noted the financial resilience achieved, saying, “Our FY2025 results demonstrate the beginning of the ‘Productivity Dividend’ we promised our stakeholders.” The company expects revenue growth to accelerate to a 20-30% year-over-year range in FY2026.

Osome’s focus on AI-led innovation and its strategic concentration on key markets have reduced operational complexity and improved unit economics. The company’s efforts have nearly achieved positive operating cashflow, demonstrating its ability to fund growth sustainably.

Great Eastern Holdings Limited has announced a significant growth in its financial results for the first quarter ending 31 March 2026. The Group’s New Business Embedded Value (NBEV) surged by 31% to S$195.4m, primarily driven by strong sales and an improved sales mix in Singapore. Total Weighted New Sales also saw a 16% increase compared to the same period last year, reflecting sustained momentum in the region.

The Group’s Profit Attributable to Shareholders remained steady at S$346.3m, despite a challenging investment environment. This stability was supported by improved insurance profits and a release in reserve, which highlighted positive experience and strong underlying fundamentals.

Greg Hingston, Group CEO, stated, “Great Eastern started the year with a strong new business performance, reflecting the strength of our underlying business despite a challenging and volatile investment environment. Our fundamentals remain robust, and the resilience of our business continues to be underpinned by disciplined execution of our long-term strategy.”

The Capital Adequacy Ratios of Great Eastern’s insurance subsidiaries remain strong, exceeding their respective minimum regulatory levels. This financial resilience positions the Group well to navigate ongoing market uncertainties whilst continuing to invest in strategic priorities.

Founded in 1908, Great Eastern is a leading insurance provider in Singapore and Malaysia, with operations extending to Indonesia and Brunei. As a subsidiary of OCBC, it benefits from the financial strength and stability of one of Southeast Asia’s largest financial services groups.

Singapore-based fintech company Aleta Planet has announced it has secured Money Services Business Class B and E-Money Issuer licences from Bank Negara Malaysia. These licences will enable the company to provide remittance and e-money services in Malaysia, marking the country as its second ASEAN hub.

The newly acquired licences complement Aleta Planet’s existing merchant acquirer licence, which allows the company to process credit and debit card payments. Founder and Group Chairman Ryan Gwee highlighted the significance of this development, stating, “Securing this approval from Bank Negara Malaysia is a key milestone for Aleta Planet as we expand our footprint in the region.”

Malaysia’s digital payments landscape is rapidly evolving, with the total transaction value projected to reach RM1.13t in 2026. This growth is driven by robust trade activity, with the country’s total trade value surpassing RM3t in 2025. Non-bank e-remittance volumes have also increased by 11%, reaching RM14.1b annually.

Aleta Planet aims to support Malaysia’s economic growth by facilitating high-value trade and payment flows, particularly for Chinese investors and tourists, as well as Malaysian exporters in sectors like machinery, technology, and agriculture. The company’s expansion strategy focuses on scaling trade and travel sectors between Malaysia and Singapore, enhancing cross-border payments, and supporting remittance and investment flows within ASEAN.

Founded in 2014, Aleta Planet is a global payments technology company operating across multiple regions, including Singapore, Hong Kong, Dubai, Malaysia, and Canada.

HDB resale prices in Singapore experienced a 0.6% decline in April 2026, according to the latest 99-SRX Media Flash Report. This slight dip reflects a market adjusting after a period of robust activity, with both buyers and sellers recalibrating their expectations. Despite the month-on-month decrease, year-on-year prices remained stable, indicating a short-term adjustment rather than a prolonged downturn.

The report highlights a 5.4% drop in resale volumes from March 2026, with 1,943 flats transacted. This represents a 15.9% decrease compared to April 2025. The decline in both price and volume is partly attributed to a cautious global economic outlook and an increase in Minimum Occupation Period (MOP) flats entering the market, adding to the supply.

Luqman Hakim, Chief Data & Analytics Officer at 99.co, noted that whilst the market is stabilising, exceptional flats continue to fetch premium prices. A national record was set with a 5-room flat at City Vue @ Henderson selling for S$1.728m. In Non-Mature Estates, the highest price was S$1.18m for an Executive flat in Woodlands.

April also saw 138 flats sold for at least S$1m, down from 145 in March. These transactions accounted for 7.1% of the total resale volume, with Queenstown leading the count of million-dollar flats at 21 units.

As the market adjusts, the data suggests that whilst overall activity may slow, demand for high-value properties remains strong.

OCBC Group has extended its coaching programme to Malaysia and Hong Kong, aiming to train 100 senior leaders to achieve the International Coaching Federation Associate Certified Coach (ICF-ACC) accreditation by the end of 2027. This initiative, launched in April 2026, builds on OCBC’s commitment to fostering a coaching culture across its operations.

The programme, initially announced in 2025 through a partnership with the ICF Singapore Chapter, requires participants to complete 60 hours of coaching education, 100 hours of practice, and 10 hours of mentor coaching. Currently, 25 senior leaders from Malaysia and Hong Kong are joining 62 colleagues in Singapore, expanding OCBC’s internal coaching pool to over 85 leaders.

Employees across the Group can engage in one-on-one coaching sessions, which provide a confidential environment to discuss career goals and resilience. Since its inception, nearly 300 employees in Singapore have benefited from the programme. The expansion allows for cross-border coach-coachee pairings, offering broader perspectives and opportunities.

Ainul Yakin Binti Azizi from OCBC Malaysia highlighted the mutual growth aspect of the programme, stating, “Becoming a coach is a two-way journey that allows leaders to grow beyond their own roles.” Alfred Ho from OCBC Hong Kong added, “This programme has given me a structured path to develop practical coaching skills.”

Lee Hwee Boon, Head of Group Human Resources at OCBC, emphasised the shift in leadership focus towards people development, noting, “We have quickly expanded to Malaysia and Hong Kong to accelerate the build-up of our internal coaching pool.” This expansion marks a significant step in enhancing resilience and agility within the OCBC Group.

Savills Singapore has announced the launch of 623 Collins, a new residential development in Melbourne’s Central Business District (CBD), set to open on 9–10 May 2026. Developed by Sterling Global, the project will transform the historic State Savings Bank of Victoria site into a 42-storey mixed-use tower, featuring 320 residences, office spaces, and retail outlets.

The development will retain and restore two heritage-listed buildings, the State Savings Bank of Victoria and Batman’s Hill Hotel, reflecting a trend of integrating historical assets into urban regeneration. Brandon Yeoh, Director at Sterling Global, emphasised the project’s significance, stating, “At 623 Collins, we’ve taken a heritage building that has been part of Melbourne’s story for a century and reimagined it for modern living.”

The project will offer a variety of residences across four collections, complemented by lifestyle amenities such as a wellbeing retreat, gym, and private dining facilities. Additionally, the development includes over 2,700 square metres of office space and approximately 900 square metres of retail and hospitality offerings. Prices are expected to start from around A$610,000.

Adrian Lim, Senior Director at Savills Singapore, highlighted Melbourne’s appeal to Singapore investors, citing its steady population growth and strong university ecosystem. He noted, “Melbourne continues to stand out as a well-balanced market for Singapore investors.”

The launch event will take place at Voco Orchard Hotel, Singapore, from 11am to 6pm, with a seminar starting at 2.30pm.

Acrophyte Hospitality Trust (ACRO-HT) has announced a 2.6% decrease in gross revenue for the first quarter of 2026, amounting to $32.6m. This decline is primarily due to the divestment of two hotels, renovations at four properties, and management transitions at five hotels, alongside disruptions caused by severe winter weather in the US.

The operational challenges faced by ACRO-HT in Q1 2026 were compounded by increased operating expenses, including higher commissions, labour costs, energy expenses, and insurance premiums. These factors contributed to a reduction in both Gross Operating Profit (GOP) and Net Property Income (NPI), which stood at $8.4m and $4.5m, respectively.

In a strategic move to optimise its portfolio, ACRO-HT completed the sale of Hyatt Place Detroit Livonia for $10m on 10 March 2026. The proceeds from this sale are intended to support ongoing renovations, reduce existing bank borrowings, and address general working capital needs.

Lee Jin Yong, CEO of the Managers, highlighted the challenges posed by macroeconomic uncertainties, inflationary pressures, and geopolitical volatility. He emphasised the trust’s commitment to enhancing portfolio resilience through proactive asset management and operational improvements. “We will continue to explore operational repositioning opportunities to maintain the relevance of our hotels and support sustainable long-term value creation across our portfolio,” he stated.

As of 31 March 2026, ACRO-HT reported cash reserves of $23.2m, earmarked for upcoming capital expenditures, amidst a cautious outlook for the US lodging sector.

Fraser and Neave, Limited (F&N) has reported a 6% decline in revenue for the first half of 2026, amounting to $1,135.4m, primarily due to unfavourable foreign exchange impacts and lower food and beverage sales. Despite these challenges, the company has maintained its interim dividend at 1.5 pence per share, underscoring confidence in its business fundamentals.

The group’s profit before interest and taxation (PBIT) rose by 6% to $174.8m, bolstered by stronger contributions from Vinamilk and improved earnings in its Beer and Publishing & Printing (P&P) segments. However, profit after tax fell by 9% to $113m, attributed to a higher effective tax rate in the absence of prior years’ tax write-backs.

F&N’s investment strategy included increasing its stake in Vinamilk to 24.99%, enhancing its presence in Southeast Asia’s dairy market. Additionally, F&N has committed up to $15m to acquire a 19.99% shareholding in Comvita, a New Zealand-based natural health company, to strengthen its health and wellness portfolio.

The Beverages segment saw a 12% revenue decline due to forex impacts, although Soft Drinks experienced growth driven by festive demand and product innovation. Meanwhile, the Dairies segment faced a 4% revenue drop, with geopolitical factors affecting Thailand’s exports, though this was partially offset by growth in Malaysia and Singapore.

CEO Rahul Colaco noted the challenging market conditions but highlighted the company’s steady performance and focus on long-term growth through innovation and strategic investments. The interim dividend is set to be paid on 5 June 2026.

CMC Markets has announced the merger of its CMC Invest legal entity into the main CMC Markets entity in Singapore, paving the way for the launch of its multi-asset platform in the coming months. This strategic move aims to streamline operations and enhance the trading experience for its clients.

The new platform will introduce features allowing clients to invest in shares, wealth products, Contracts for Difference (CFDs), options, and cryptocurrencies, all whilst managing their credit cards on a single platform. Christopher Forbes, Head of Asia and the Middle East at CMC Markets, stated, “The Singapore market demands a multi-asset platform which places choice above all else; owning a niche is no longer the answer as clients want a single platform.”

Clients currently using the CMC Invest stockbroking platform will experience no changes and can continue using it as usual. The company, which has been operating in Singapore for 20 years, remains committed to investing in platform development, education, and local engagement as it gears up for its next growth phase in the region.

This development underscores CMC Markets’ dedication to meeting the evolving needs of its clients by providing a comprehensive and integrated trading and investing solution. As the company simplifies its structure, it aims to deliver a platform that combines trading and investing, a long-awaited feature in the market.