Industry News

Parkway Life Real Estate Investment Trust (PLife REIT) has reported a 14.6% increase in its distributable income for the first half of 2026, reaching S$57.2m. This growth is attributed to strategic lease arrangements in its Singapore and France portfolios, alongside a successful divestment in Japan.

PLife REIT’s Distribution Per Unit (DPU) also rose by 14.6% to 8.77 Singapore cents, primarily due to step-up lease agreements and revenue-sharing arrangements with two Singapore hospitals. These agreements have outperformed the minimum guaranteed rent, contributing significantly to the REIT’s financial performance.

The REIT completed the divestment of a nursing home in Japan at a 38% premium to its acquisition price, enhancing its portfolio rejuvenation strategy. This transaction, completed on 30 June 2026, generated a gain of approximately S$0.6m.

Despite facing foreign exchange challenges from Japan and reduced rental income from certain Japanese properties, PLife REIT maintained a healthy balance sheet with a gearing ratio of 33.8%. The REIT has no long-term refinancing needs until March 2027, ensuring financial flexibility.

CEO Yong Yean Chau highlighted the resilience of PLife REIT’s portfolio, stating, “The Singapore hospitals continue to deliver sustainable organic growth under the Annual Rent Review Formula, whilst the successful divestment of a mature Japan asset reflects our disciplined approach to portfolio optimisation.”

Looking forward, PLife REIT aims to focus on prudent portfolio management and asset enhancement initiatives to bolster long-term resilience and value for its unitholders.

Etiqa Insurance Singapore has introduced Enrich Index Income, a non-participating endowment plan that combines insurance protection with index exposure, ensuring capital is guaranteed at maturity. This innovative plan allows customers to grow their cash value over the long term whilst benefiting from potential yearly cash returns linked to the Barclays RADAR 6% RC Index.

The plan offers non-guaranteed yearly cash benefits based on the performance of the Barclays RADAR 6% RC SGD or USD Index. This index diversifies investments across US equities, bonds, and commodities, adapting to changing market conditions. Customers can choose to receive these cash benefits as income or reinvest them to support long-term financial goals.

Claudia Soh, acting CEO and CFO of Etiqa Insurance Singapore, stated, “Today’s investors are seeking solutions that can help them grow their wealth without exposing their savings to the full impact of market volatility. Enrich Index Income is designed for customers who want to participate in market opportunities whilst maintaining greater peace of mind through capital guaranteed at maturity.”

Key features of the Enrich Index Income plan include:

– Participation in index-linked growth potential via the Barclays RADAR 6% RC Index.
– Potential non-guaranteed yearly cash benefits when the index performs positively.
– Capital guaranteed at maturity to protect the principal.
– A 0% floor rate ensuring cash benefits are never negative.
– Flexible payment options: single premium or over three years.
– Protection benefits including death, accidental death, and terminal illness coverage.
– No medical assessment required for purchase.

This plan is part of Etiqa’s comprehensive suite of financial solutions aimed at wealth accumulation, health protection, and legacy planning.

Eftsure, a leading payment assurance provider, has launched its payment verification infrastructure in Singapore, a major financial hub in Asia. This expansion aims to provide finance teams with a continuously verified source of payment data, enhancing control over domestic and international vendor networks.

Singapore’s status as a corporate finance centre involves high-volume vendor payments, which are often managed by centralised finance teams. This creates complex cross-border payment flows and governance challenges. Eftsure addresses these issues by offering a robust verification system that confirms payment details before transactions occur, reducing reliance on manual checks like registry lookups and callbacks.

The need for such a solution is underscored by the rising threat of scams and cybercrime, which cost Singapore S$913.1m in 2025, according to the Singapore Police Force. Eftsure’s infrastructure spans over 190 countries, covering 85% of the world’s banked population, and supports local payment conventions, making it a valuable tool for multinational organisations.

Karthik Manimozhi, Global President at Eftsure, highlighted the importance of embedding trust within payment infrastructure to combat fraud and errors. “Trust now has to sit inside the infrastructure itself, validating payment data before money moves,” he stated.

Eftsure’s CEO, Jon Soldan, emphasised the need for finance leaders to maintain governance whilst moving quickly. “Eftsure gives organisations a way to continuously monitor payments at scale, helping reduce payment risk,” he said.

With its launch in Singapore, Eftsure continues its global expansion, having already established a strong presence in Australia, New Zealand, the United States, and Europe. The company supports over 4,000 organisations, safeguarding billions in B2B payments annually.

ESR-REIT Management (S) Limited has announced the completion of its Asset Enhancement Initiative (AEI) at 29 Tai Seng Street, Singapore, achieving 100% occupancy ahead of schedule. The property has secured a long-term lease with PSB Academy, a leading private education institution in Singapore, for approximately 10 years, with built-in annual rental escalations.

The upgraded facility has received the BCA Green Mark GoldPLUS (Provisional) certification, highlighting its sustainability features. This development aligns with ESR-REIT’s strategy to provide modern, high-quality, and adaptable spaces for diverse tenants. Adrian Chui, CEO and Executive Director of the Manager, stated, “The successful completion of the AEI at 29 Tai Seng Street, together with securing 100% occupancy ahead of schedule, marks another important milestone for ESR-REIT.”

In addition to 29 Tai Seng Street, PSB Academy has leased two floors at 16 Tai Seng Street, further enhancing the occupancy rate of ESR-REIT’s assets in the area. This move increases the occupancy rate from 53% to 68%, contributing to the overall performance of the Tai Seng cluster.

Derrick Chang, CEO of PSB Academy, expressed enthusiasm about the partnership, noting that the new premises will support the growing demand for training in science, technology, engineering, arts, and mathematics (STEAM). The collaboration aims to build a talent pipeline for the STEAM industries through state-of-the-art facilities.

This achievement follows ESR-REIT’s robust financial results in the first half of 2026, reinforcing its active asset management strategy and commitment to delivering sustainable growth and returns.

In the first seven months of 2026, more than 70 primary-listed companies in Singapore collectively repurchased S$1.9b worth of shares, marking a significant increase from S$1.3b in the same period last year. This surge in buyback activity is largely attributed to Singapore Telecommunications (Singtel), which accounted for nearly half of the total buyback consideration.

Singtel’s aggressive buyback strategy saw the company repurchasing 23.6 million shares for S$103.6n in July alone, bringing its total for the year to 195.3 million shares at a cost of S$893m. The company maintains that its S$2b Value Realisation Share Buyback programme will lead to a 3% increase in underlying earnings per share, enhancing its financial metrics.

Other notable companies initiating buybacks in July include Geo Energy Resources, Raffles Medical Group, and Addvalue Technologies. Geo Energy Resources led this group with a buyback of 5.8 million shares for S$3.15m, citing undervaluation and long-term growth prospects as key motivators.

The buyback trend is not limited to primary-listed companies. Secondary-listed firms like Jardine Matheson Holdings and Hongkong Land also engaged in substantial buybacks, spending US$270m and US$210m, respectively.

Overall, the buyback activities reflect a strategic move by companies to enhance shareholder value, improve financial metrics, and deploy surplus capital effectively. As companies continue to navigate market conditions, buybacks remain a flexible tool for capital allocation and shareholder returns.

Family offices in Singapore are increasingly turning to third-party specialists for advice on personal financial management and cyber security, according to a recent study by Ocorian. The research, which surveyed 25 individuals from the family office sector in Singapore, found that 60% of respondents currently seek external advice on personal finances, whilst 52% rely on third parties for cyber security expertise.

The study highlights a significant trend towards outsourcing, with 76% of respondents indicating they plan to increase their use of third-party support over the next three years. This shift is driven by a desire for more sophisticated services (68%), cost-effectiveness (63%), and a lack of in-house expertise as family offices expand (53%).

Currently, no family offices in Singapore report receiving third-party support for extended family services, such as concierge needs and global insurance programmes. However, 80% of respondents plan to increase outsourcing in this area as their needs evolve. Additionally, 72% expect to outsource more around assets of passion, whilst 68% foresee increased outsourcing for wealth planning and illiquid investments.

When selecting third-party specialists, 72% of family offices in Singapore prioritise the ability to establish a strong, trusted relationship. The capability to operate across multiple regions and cost are also important factors, each cited by 60% of respondents.

As family offices continue to face new challenges and expand globally, the reliance on third-party expertise is expected to grow, reshaping the landscape of family office operations in Singapore.

Savills Plc has finalised its acquisition of Eastdil Secured LLC for an enterprise value of $1.1b (£827m), marking a significant expansion of its real estate advisory services. This strategic move, announced on 12 March 2026, positions Savills as a global leader in the sector, enhancing its presence in North America and strengthening its foothold in EMEA and Asia Pacific.

The acquisition was financed through a combination of loan finance and the issuance of new ordinary shares, representing 16% of Savills’ enlarged share capital. Key stakeholders, including Guggenheim, Temasek, and Wells Fargo, along with Eastdil Secured’s leadership and senior employees, have become shareholders in Savills.

Eastdil Secured will now operate under the name Eastdil Secured Savills, continuing its existing business model within the Savills Group. The combined entity is set to become the second-largest advisory firm globally for prime commercial real estate transactions exceeding $100m.

Key leadership appointments include Roy H. March as Executive Chairman, D. Michael Van Konynenburg as CEO, and James McCaffrey as President. The firm will maintain headquarters in New York, Santa Monica, and London, integrating its 21 offices into Savills’ global network.

Simon Shaw, Group Chief Executive of Savills, expressed enthusiasm about the merger, stating, “Together we provide a stronger, globally connected platform enabling us to deliver for clients at every stage of the property cycle.” This acquisition is expected to unlock new opportunities and enhance strategic advice for clients worldwide.

Ookla’s latest Connectivity Report for the first half of 2026 highlights Singtel as the top performer in Singapore’s mobile network sector. The report, based on Speedtest data, shows Singtel achieving a median download speed of 258.01 Mbps and an upload speed of 28.45 Mbps, marking it as the Best Mobile Network in the country.

In the realm of fixed networks, MyRepublic emerged as the fastest Internet Service Provider (ISP) in Singapore. The company recorded a median download speed of 479.34 Mbps and a median upload speed of 394.39 Mbps, setting a high benchmark for fixed network performance.

These findings underscore the competitive landscape of Singapore’s telecommunications industry, where speed and reliability are crucial for consumer satisfaction and business operations. The report provides valuable insights into the performance of major network providers, helping consumers make informed decisions about their service choices.

As Singapore continues to advance in digital connectivity, these results reflect the ongoing efforts of network providers to enhance their infrastructure and service offerings.

PSB Academy has announced the launch of a new multi-campus learning ecosystem, marking a significant expansion with three new campuses in Singapore. These campuses, located in Tai Seng, Paya Lebar, and the city centre, will increase the Academy’s campus space by 60%, adding over 220,000 square feet. This expansion is in response to a growing demand for Science, Technology, Engineering, Arts, and Mathematics (STEAM) education, which has seen enrolment rise by 20% annually.

The new campuses include the Integrated STEAM Hub at Tai Seng, featuring the Health & Life Sciences Campus and the Engineering, Technology & Communication Campus, and a Business & Management campus at SingPost Centre. These facilities are designed to provide specialised, industry-aligned learning environments, enhancing practical education and collaboration with industry partners. Derrick Chang, CEO of PSB Academy, stated, “We’re creating spaces where learning feels more relevant, more immersive and more connected to the careers our students are working towards.”

The campuses will feature advanced laboratories and industry-grade equipment, such as a cyber range laboratory for cyber security training and a nursing practicum laboratory. The expansion supports PSB Academy’s vision of preparing students for the evolving workforce by offering practical skills and industry engagement. The new campuses are set to open progressively in the first half of 2027, subject to regulatory approval, and will complement the existing Cathay Campus, which opened in 2025.

The Singapore Institute of Management (SIM) has entered into a 14-year power purchase agreement with Peak Energy to install an onsite solar system at its Clementi Road campus. This initiative is expected to deliver approximately 1,100 MWh of solar energy annually, reducing SIM’s energy rates by over 45% without any upfront capital investment.

Under the agreement, Peak Energy will design, finance, build, own, and operate a 900 kWp solar installation. The project offers SIM a stable energy rate significantly lower than current electricity prices, providing price certainty amidst volatile energy markets. Gavin Adda, CEO of Peak Energy, highlighted the partnership’s benefits, stating, “We’re able to give an institution like SIM a clear structural way to unlock significant cost savings whilst securing reliable power for the long term.”

This move comes as Singapore faces some of the highest power prices in the region, exacerbated by increased demand from data centres and AI-driven electricity needs, as well as reliance on imported gas. The solar agreement aligns with SIM’s sustainability goals, as noted by Vincent Siow, Senior Lead at SIM, who said, “This agreement is a discernible step in that direction, bringing onsite solar to our Clementi Road campus.”

The partnership reflects a broader trend among educational institutions in Singapore to adopt renewable energy solutions, reducing reliance on grid electricity and lowering their environmental impact.