Industry News

Annica Holdings Limited has announced an expanded collaboration with Travia Consultancy Services to convert end-of-life tyres into energy products. This initiative aligns with Annica’s strategy to enhance its presence in the renewable energy and circular economy sectors.

The collaboration will see Annica’s subsidiary, Cahya Suria Energy, and Travia working together on three fronts: supplying tyre feedstock, offtaking tyre pyrolysis oil (TPO), and a research project to upgrade TPO into sustainable fuels. Travia will supply up to 70% of the tyre feedstock needed for Cahya Suria Energy’s production capacity and will purchase up to 70% of the TPO produced, contingent on quality standards.

This partnership aims to bolster feedstock security for Cahya Suria Energy’s recycling facility and provide an offtake channel for its products, fostering an integrated circular economy ecosystem. The research project will focus on upgrading TPO for potential use in aviation, transport, and maritime sectors. Travia will install a proprietary oil upgrading system at Cahya Suria Energy’s plant in Tanjung Malim, Malaysia, and provide technical personnel for the project.

The facility, equipped with 13 vertical automatic pyrolysis production lines, is designed to process up to 40,000 metric tonnes of tyres annually. Commercial production is anticipated to begin by the fourth quarter of 2026, pending regulatory approvals.

Sandra Liz Hon Ai Ling, CEO of Annica, expressed enthusiasm for the collaboration, stating it will enable the company to produce higher-value sustainable fuels and create new revenue streams. This initiative is part of Annica’s broader strategy to develop its renewable energy segment across Southeast Asia.

Aoxin Q & M Dental Group Limited has announced a collaboration with the Shenhe District People’s Government to establish a new dental hospital in Shenyang, China. The memorandum of understanding was signed at the 11th Singapore-Liaoning Economic and Trade Council in Shenyang. The project involves an investment of $4.8m (RMB35m) for a facility spanning 2,430 square metres, with a soft opening planned by the end of September 2026.

The new hospital is set to employ over 80 healthcare professionals and 20 support staff. The property acquisition is complete, and interior fit-out is underway. This initiative marks a significant expansion for Aoxin Q & M in its home market of Shenyang.

Chua Ser Miang, Non-Executive and Non-Independent Chairman of Aoxin Q & M, stated, “Shenyang has been the Group’s home market since inception, and this new hospital represents a significant deepening of our commitment to it. Working alongside the Shenhe District People’s Government gives us a strong local foundation to build upon.”

The new facility aims to integrate specialist care, modern equipment, and an experienced clinical team under one roof, enhancing patient services. This development is expected to contribute to sustainable value creation for shareholders over time. The collaboration underscores Aoxin Q & M’s commitment to expanding its healthcare services in China.

Delfi Limited, a chocolate confectionery company listed on the SGX Mainboard, has reported a 2.7% increase in net sales, reaching $266.6m for the first half of 2026. The company’s profit after tax and minority interests (PATMI) rose by 5.4% to $12.9m, despite facing volatile currencies and macroeconomic uncertainties. In constant exchange rate terms, Delfi’s net sales and PATMI grew by 2.9% and 9.4%, respectively.

The company’s Own Brands sales in Indonesia, the Philippines, and Malaysia contributed significantly, with a year-on-year increase of 13.3%, totalling $172.9m. However, Agency Brands sales declined by 12.4% to $93.7m, reflecting the strategic exit from an agency account in Indonesia. Excluding this account, Agency Brands saw a robust growth of 29.0%.

Delfi’s gross profit margin fell by 180 basis points to 25.7%, primarily due to higher raw material costs and currency depreciation in Indonesia and the Philippines. Consequently, EBITDA decreased by 3.7% to $23.4 million. Despite these challenges, Delfi generated $14m in net operating cash flow, maintaining a cash position of $63.3m as of 30 June 2026.

Executive Chairman and CEO John Chuang stated, “Our 1H 2026 performance demonstrates the continued strength of our Own Brands, highlighting the underlying demand of our key brands even as we navigated a challenging cost environment.” Delfi declared an interim dividend of 1.05 US cents per share, representing 50% of the PATMI for the period.

Looking ahead, Delfi anticipates continued volatility in the cocoa market and potential cost pressures due to the ongoing Middle East conflict. The company plans to mitigate these risks through strategic investments and financial discipline, ensuring resilience in uncertain times.

Skylink Holdings, a leading commercial vehicle leasing company in Singapore, has announced a significant investment of over S$3m in a new cold chain logistics fleet. This strategic move expands their heavy vehicle asset portfolio and supports their leasing business. The company has also secured a maiden three-year leasing contract worth more than S$2.2m with a prominent multinational food supply chain and logistics operator, which services one of Singapore’s largest food service networks.

The new contract is expected to positively impact Skylink Holdings’ financial performance over the contractual period. This investment marks the company’s first strategic entry into the cold chain logistics sector, offering scalable leasing solutions to a ‘blue-chip’ client in the food and beverage sector. The initiative aligns with Skylink Holdings’ strategy to expand its recurring income stream and broaden its service offerings, paving the way to support other mission-critical industries.

Wesley Shen, Executive Director and CEO of Skylink Holdings, commented on the contract win, stating, “This contract win demonstrates our growing capability to deliver highly specialised fleet solutions for large corporate customers with demanding operational requirements.”

The deliveries for the leasing contract are set to begin progressively from October to December 2026. This investment and leasing structure is part of Skylink Holdings’ strategic plans to expand its asset portfolio in the specialised heavy commercial vehicle categories, supporting essential supply chain operations. The company aims to further expand its customer base and capacity to invest in other mission-critical fleets across various sectors.

ESGpedia and the Singapore Environment Council (SEC) have announced a strategic partnership to aid businesses in managing their carbon emissions. This collaboration combines ESGpedia’s digital carbon accounting platform with SEC’s expertise in carbon verification, offering a comprehensive solution for greenhouse gas (GHG) accounting and reporting.

As businesses face growing demands from stakeholders to accurately report their environmental impact, this partnership provides a practical pathway for robust carbon management. ESGpedia’s platform will enable organisations to calculate emissions data, whilst SEC’s verification services will ensure the credibility of the information reported.

The partnership also aims to support businesses in meeting the new Technical Reference (TR) 149:2026 standards and evolving green procurement expectations. SEC will introduce ESGpedia’s platform to companies seeking carbon accounting solutions, and ESGpedia will direct businesses needing verification services to SEC.

Benjamin Soh, Founder and Managing Director at ESGpedia, stated, “Businesses today require practical solutions that help them navigate increasingly complex sustainability requirements. By partnering with Singapore Environment Council, we are bringing together digital carbon accounting capabilities and independent verification expertise to help organisations strengthen the quality, transparency, and credibility of their emissions reporting.”

Penguin International Limited, a Singapore-listed company, has already benefited from this collaboration by improving the efficiency and credibility of its emissions reporting, which has supported its sustainability-linked financing efforts.

Yangzijiang Maritime Development Ltd. has reported a 49% increase in total income for the first half of 2026, reaching $81.6m. This growth is attributed to the strong performance and strategic expansion of its core Maritime Business, which has bolstered the company’s earnings base. Despite higher operating costs, the expansion has enabled Yangzijiang Maritime to capitalise on value creation opportunities through asset monetisation and resale.

The company has a robust balance sheet with net assets of approximately $1.8b as of 30 June 2026. Over the past nine months, Yangzijiang Maritime has entered into contracts to monetise 12 newbuild vessels, with a total contract value of approximately $500m. These contracts are expected to positively impact the company’s financial performance in the coming years.

Executive Chairman and CEO Ren Yuanlin stated, “Since our listing in November, we have been building a stronger foundation to enhance our earnings capacity through the strategic expansion of our Maritime Business.” He emphasised the importance of early sale contracts to secure capital gains and provide earnings visibility.

The company’s strategic roadmap aims to strengthen its position as a global maritime-focused investment and solutions platform. Looking forward, Yangzijiang Maritime plans to leverage Singapore’s status as a maritime hub and capitalise on macro opportunities, including tighter capital conditions in Western markets and decarbonisation requirements by the International Maritime Organisation.

Singapore has retained its position among the world’s top 10 most expensive prime office markets, according to Savills’ latest Prime Office Costs report. The city-state ranks 10th globally for annual net effective occupier costs, highlighting its status as a leading business hub in the Asia-Pacific region. The report also reveals that expansionary leasing accounted for 58% of major office transactions globally in the first half of 2026, indicating growing confidence among occupiers.

The global prime office leasing volumes remained stable in the first half of 2026, with expansionary deals making up the majority of activity. Only 5% of top office deals involved occupiers reducing space, whilst 37% were relocating or renewing at a similar footprint, down from 44% in the latter half of 2025. Flexible office providers led the expansion, with 78% of their deals representing growth within existing markets.

AI companies have emerged as a significant force in the prime global office market, accounting for 17% of all prime technology sector deals in the first half of 2026, a substantial increase from 3% in 2024. Savills notes that every AI-related deal was expansionary, driven by rapid growth and increased demand for talent. This trend is particularly pronounced in innovation clusters like San Francisco, Seattle, and London’s West End.

Alan Cheong of Savills Singapore commented on the local market, noting the resilience of the higher-grade office sector amidst limited new developments. Rick Schuham of Savills highlighted the continued demand for premium offices, whilst Sarah Brooks pointed out the growing influence of AI and technology firms in absorbing high-quality space globally.

Eneco Energy Limited has announced the acquisition of an industrial property at 15 Gul Way, Singapore, for S$24.2m. The property, which includes a dormitory for 199 personnel, will serve as a logistics hub for Richland Logistics Services, enhancing operational flexibility and efficiency.

The acquisition is strategically located near a new Cross Island Line Phase 3 station, occupying approximately 203,267 square feet of land with a gross floor area of 284,384 square feet. This move is part of Eneco’s broader strategy to strengthen its logistics infrastructure and support future business expansion.

Ang Jun Long, Executive Director of Eneco, stated, “The proposed acquisition of 15 Gul Way represents an important milestone in strengthening our logistics infrastructure, and it complements our broader strategy of continuously improving operational efficiency, investing in strategic assets and strengthening our logistics platform under Richland Logistics.”

The acquisition is expected to provide Eneco with greater control over its logistics infrastructure, positioning the company to capitalise on future growth opportunities. Additionally, the on-site dormitory is anticipated to reduce recurring employee accommodation costs, further enhancing operational efficiency.

Eneco, a market leader in Singapore’s air cargo industry, views this acquisition as a significant step in delivering greater value to customers with mission-critical logistics needs. The company continues to invest in strategic assets and initiatives, including fleet renewal and the expansion of its electric vehicle fleet, to maintain its competitive edge in the logistics sector.

Secura Group Limited, through its subsidiary Soverus Pte Ltd, has secured two significant security services contracts valued at approximately S$64.2m. These contracts are part of the Ministry of Education’s (MOE) new integrated facilities management (IFM) model, marking a substantial achievement for the company. The contracts, set to commence on 1 September 2026, will initially run for five years, with an option to extend for another five years.

Soverus has a longstanding relationship with MOE, providing security services to schools in the North and North-East zones. The transition to the IFM model has allowed Soverus to maintain its presence in the education sector by securing contracts from two IFM providers. This move underscores the company’s strong operational capabilities and consistent service standards.

Chief Executive Officer of Secura, Kan, highlighted the significance of these awards, stating, “These contract awards are particularly significant as they were secured following MOE’s transition to an IFM operating model. Our upgraded 24/7 command centre, enhanced with AI-enabled capabilities, strengthens real-time monitoring, incident management and operational oversight.”

Looking forward, Secura aims to focus on operational excellence and service innovation to meet the evolving needs of its clients across various sectors. The contracts are expected to positively impact the Group’s earnings per share and net asset value per share from 2026 to 2031, reinforcing Secura’s position as a leading provider of security solutions in Singapore.

Bassel Haddad has officially taken over as Group Chief Executive Officer and Executive Director of ASMPT, the global leader in semiconductor and electronics manufacturing solutions. This leadership transition, initially announced in July, became effective today. Haddad succeeds Robin Ng, who retires after over two decades with the company, including six years as Group CEO.

John Lok, Chairman of the Board of ASMPT, expressed confidence in Haddad’s appointment, stating, “Bassel’s deep industry expertise, business leadership and track record of driving innovation and customer success make him the right leader to guide ASMPT through its next phase of growth.”

Haddad, who previously held senior roles at SkyWater Technology and Intel Corporation, brings extensive experience in technology development and business management. He aims to steer ASMPT through the industry’s shift from traditional Moore’s Law scaling to the “more than Moore” era. “We have an exceptional opportunity to accelerate and shape the industry’s evolution,” Haddad remarked.

The leadership change follows ASMPT’s strong financial performance in the first half of 2026, with a 42.5% increase in group revenue from continuing operations, reaching $1.14b. This growth was driven by demand for advanced packaging solutions and mainstream applications.

ASMPT, headquartered in Singapore, continues to invest in research and development to maintain its position as a leader in semiconductor assembly and packaging. Haddad’s leadership is expected to further enhance the company’s technological capabilities and customer focus.