Industry News

As Singapore’s homes become increasingly compact, maintaining healthy indoor air quality has emerged as a significant concern. With the population now at 6.11 million and thousands of new high-density residential units entering the market each year, families are spending more time in smaller, enclosed environments where pollutants can accumulate more quickly. This is particularly concerning in Singapore’s humid climate, which averages 82% humidity year-round, as it can trap mould, dust mites, and volatile organic compounds (VOCs), posing heightened risks for households with children, seniors, pets, or those near busy roads or construction zones.

To address these challenges, Levoit, a leading air purifier brand, offers advanced technology to help Singaporeans create healthier indoor environments. In line with Singapore’s Smart Nation 2.0 initiative, Levoit integrates Internet of Things (IoT)-enabled air purification with app-based monitoring, providing residents of smaller high-density homes with real-time insights into pollutants, humidity, and PM2.5 levels. “With the right technology, families no longer have to choose between space, comfort, or air quality—smart solutions make healthy living possible without compromise,” said Oscar Mei, Regional Business Director Asia Pacific at VeSync.

Levoit’s air purifiers feature a three-stage filtration system, including a pre-filter for large particles, a HEPA filter for fine particles, and an activated carbon filter for odours and harmful VOCs. As the year-end holidays approach, Levoit encourages households to create healthier living spaces, offering up to 50% off their products during the 12.12 shopping period on Shopee.

By combining advanced filtration with intelligent monitoring, Levoit empowers families to maintain cleaner, safer, and more comfortable home environments in today’s compact urban living spaces.

YY Group Holding Limited, a global leader in on-demand workforce solutions and integrated facilities management, has announced the creation of a Chief Product Officer (CPO) role, appointing Eli Yu to lead the position. This strategic move aims to accelerate product innovation and drive the company’s global growth and expansion.

Yu, an experienced product and technology leader, will oversee the end-to-end product strategy, design, development, and lifecycle management. He will lead cross-functional teams to align market needs with product capabilities, enhancing YY Group’s ability to deliver high-quality digital solutions. The appointment highlights the company’s focus on operational excellence, scalability, and sustainable growth.

Mike Fu, CEO of YY Group, stated, “With the rapid evolution of AI and technology, having a clear, unified product strategy is more important than ever. Bringing Eli on board as our chief product officer marks a major milestone for our organisation, allowing us to optimise product development and strengthen the foundations needed to support our next stage of growth.”

Yu expressed his enthusiasm, saying, “I’m honoured to join YY Group at such an exciting point in its evolution. There is tremendous potential to expand into new areas and create more value for those we serve.”

Yu’s extensive experience in AI, software development, technology, and renewable energy positions him well to drive innovation and build scalable products. His leadership is expected to unlock new opportunities and deliver greater value to YY Group’s users and shareholders.

The FTSE ST Industrials Index has recorded a remarkable 40.7% total return for the first 11 months of 2025, buoyed by dividends and target price upgrades among its constituents. The index, which closed at 915.2, saw its consensus target price rise by 33% from 777.9 to 1,031.9, driven by significant inflows and performance improvements.

Hong Leong Asia emerged as the standout performer, delivering a 141% return on $38m (S$53m) in net institutional inflows. This surge was partly attributed to the launch of the MTU Series 2000 engines by its joint venture, MTU Yuchai Power, in August. The company’s average daily turnover increased from $0.79m (S$1.1m) in the first half of 2025 to $2.95m (S$4.1m) in the second half, reflecting heightened investor interest.

In the small and mid-cap segment, Hiap Seng Industries, Soilbuild Construction, and ASL Marine reported the strongest turnover growth in the second half of 2025. Hiap Seng Industries, in particular, saw a significant increase in average daily turnover after Chandra Asri Group acquired an 11.87% equity interest, boosting its share price from $0.005 (S$0.007) to $0.019 (S$0.026).

The industrial sector remains one of ASEAN’s largest by market capitalisation, with policy initiatives driving productivity and resilience. The Economic Survey of Singapore anticipates continued growth in the construction sector, supported by public residential building and civil engineering projects, despite a forecasted slowdown in manufacturing and trade-related services in 2026.

Country City Investment Pte Ltd has secured the tender from the Singapore Land Authority to redevelop the historic 2 Moulmein Road estate into a dynamic lifestyle and community destination. The 91,000 sqm site, which houses over 40 heritage buildings, has been a significant part of Singapore’s healthcare history since its establishment in 1913 as Middleton Hospital and later as the Communicable Diseases Centre.

The redevelopment aims to honour the site’s legacy whilst rejuvenating it in line with Singapore’s efforts to celebrate its built heritage. Dylan Soh, Business Development Manager of Country City Investment, expressed gratitude for the opportunity to transform the estate into a place for dining, wellness, learning, and play. The project is set to open in the first quarter of 2027.

Country City Investment, known for its successful transformation of Dempsey Hill, plans to incorporate distinct thematic zones, restaurants, sports facilities, and enrichment spaces into the Moulmein Road site. The development will maintain the estate’s rustic charm whilst enhancing accessibility and visitor experience.

The company is committed to sustainability and community engagement, working closely with the Singapore Land Authority, heritage specialists, and community partners to ensure the transformation respects the site’s historical significance. The revitalised estate is expected to enrich Singapore’s hospitality and tourism landscape, offering a vibrant environment with diverse creative offerings throughout the year. Further details on the redevelopment will be shared as the project progresses.

Singapore’s hiring outlook has reached its lowest point in nearly four years, with the Net Employment Outlook (NEO) for Q1 2026 standing at 15%, according to the latest ManpowerGroup Employment Outlook Survey. This represents a decline of five points from the previous quarter and 11 points year-on-year. The survey, which included responses from 504 employers, highlights how economic caution is reshaping workforce strategies across the nation.

Nearly half of the surveyed employers, 46%, plan to maintain their current staffing levels, whilst 32% intend to increase headcount. Conversely, 18% anticipate reducing their workforce. The Finance and Insurance sector reports the strongest outlook, with a NEO of 33%, marking a 23-point increase from the previous quarter, although it is down by six points compared to the previous year.

Economic uncertainty continues to play a significant role in hiring decisions. Among organisations maintaining headcount, 23% are adopting a wait-and-see approach regarding economic developments before making hiring decisions. Meanwhile, 30% of those planning staff reductions cite economic challenges as the primary reason.

The survey underscores the impact of economic conditions on employment strategies, with the NEO data seasonally adjusted to account for typical annual hiring fluctuations. As Singapore navigates these uncertain times, the employment landscape remains cautious, with businesses closely monitoring economic trends before committing to significant staffing changes.

Healthtech startup Respiree has secured approval from Singapore’s Health Sciences Authority (HSA) for its AI-enabled 1BioAI software, designed to assist healthcare professionals in detecting acute inpatient deterioration. The 1BioAI Acute toolbox, classified as a Class B software-as-a-medical device, utilises machine learning models to enhance precision in identifying patient deterioration, thereby reducing false alerts and improving clinical support.

The 1BioAI Acute system operates by analysing bedside-recorded vital signs—pulse rate, respiratory rate, oxygen saturation, and systolic blood pressure—to generate a probability score. This score helps clinicians assess whether additional monitoring is necessary, indicating the patient’s general physiological state. “Advanced AI-driven machine learning models have the potential to deliver significantly greater precision, reducing unnecessary alerts,” said Dr Gurpreet Singh, CEO and Founder of Respiree.

The approval marks a significant milestone for Respiree, whose 1Bio platform and RS001 wearable device have also received regulatory clearance. With this achievement, Respiree plans to expand regulatory approvals for the 1BioAI Acute toolbox across other Asia-Pacific (APAC) and Australia-New Zealand (ANZ) regions, as well as in the United States in the coming months.

The HSA’s approval follows a validation study published in the Mayo Clinic Proceedings, further establishing the credibility of Respiree’s technology. As the company looks to broaden its reach, the potential for improved patient care through AI-driven precision continues to grow.

OCBC’s Mezzanine Capital unit has made a significant equity investment in Green Esteel Pte Ltd, supporting the development of Southeast Asia’s largest integrated low-carbon steel plant. This investment marks the first commercial funding for Esteel by a financial institution in Asia. The plant, set to be commissioned by 2030, will be located in Sabah and is expected to produce 2.5 million tonnes of Hot Briquetted Iron (HBI) annually, a key component in low-carbon steel production.

The $1.5b project aligns with OCBC’s Sustainability Investment Programme, which aims to invest in green and transition assets. The initiative is part of OCBC’s broader strategy to decarbonise the steel sector, a major contributor to global greenhouse gas emissions. Traditional steel production accounts for about 7% of these emissions, making it the highest emitting manufacturing sector, according to the World Economic Forum.

The demand for low-carbon steel is anticipated to rise as the global economy shifts towards sustainable practices. The “Green Steel Industry Report 2025” projects the low-carbon steel market to grow at a compound annual growth rate of 21.4%, reaching $19.4b by 2029.

Gan Kok Kim, Head of Global Investment Banking at OCBC, stated, “With demand for low-carbon steel expected to rise sharply around the world, we are confident that our equity investment in Esteel offers strong potential for long-term growth returns.”

Green Esteel’s CEO, Gong Hong, expressed gratitude for OCBC’s support, highlighting the partnership’s role in advancing sustainable industrial transformation. This investment underscores OCBC’s commitment to fostering a greener, low-carbon economy.

Traveloka, Southeast Asia’s leading travel platform, and the Singapore Tourism Board (STB) have unveiled a new regional marketing campaign titled ‘A World of Experiences Await’. This initiative aims to attract young travellers from key Southeast Asian markets to consider Singapore as their preferred short-haul destination for spontaneous and convenient weekend getaways.

The campaign seeks to position Singapore as an ideal location for travellers and repeat visitors looking for quick escapes. With its compact city layout, Singapore offers a diverse range of activities that can be enjoyed in a single day, from exploring cultural landmarks to experiencing world-class attractions. This makes it an attractive option for those wanting to make the most of their time with loved ones.

The partnership between Traveloka and STB highlights their commitment to promoting Singapore as a vibrant and accessible destination. By targeting young travellers, the campaign hopes to boost tourism and encourage more frequent visits to the city-state. As the campaign unfolds, it is expected to enhance Singapore’s appeal as a dynamic and exciting travel destination in the region.

Developers are showing strong interest in Singapore’s Government Land Sales (GLS) sites, with more than six bidders vying for each private residential site since July 2025, according to Huttons Asia. The latest tender saw 10 bidders, the highest number since 2021, highlighting the competitive landscape as developers seek to expand their portfolios.

The Dunearn Road site, located near Sixth Avenue MRT station in the prestigious Bukit Timah area, is expected to attract four to seven bidders, with top bids ranging from $1,350 to $1,450 per square foot per plot ratio (psf ppr). This site is part of the new Turf City housing estate, which could see around 1,225 new dwelling units in the next two years if all sites are launched and sold.

The Kallang Avenue site, the first GLS site for private residential living near Kallang MRT station, offers a rare opportunity for waterfront living. It is anticipated to draw similar interest, with bids also expected between $1,350 and $1,450 psf ppr. Its prime location next to Kallang River and proximity to the Central Business District make it highly desirable.

In the Lentor precinct, the Lentor Central site is the eighth in the area and is popular for its attractive entry price. With less than 50 units remaining unsold from previous launches, the site is expected to see two to four bidders, with bids ranging from $900 to $1,000 psf ppr. A new 500-unit project is slated for launch in 2026, further boosting interest in the area.

Mark Yip, CEO of Huttons Asia, noted the heightened competition and the winner-takes-all nature of the tender process as key factors driving up tender prices. As developers continue to seek attractive sites, the bidding is likely to remain intense.

SynaXG Technologies, a Singaporean deep-tech startup, has successfully raised over US$20m in its first funding round, led by January Capital, Vertex Ventures, and Qualgro. This significant early-stage investment in AI-RAN (Artificial Intelligence Radio Access Networks) is set to bolster SynaXG’s global expansion efforts. The funds will be channelled into strengthening the company’s engineering capabilities and expanding its partner network, positioning Singapore as a leader in the AI-RAN sector.

The AI-RAN industry is gaining momentum globally, underscored by NVIDIA’s recent US$1b investment in Nokia for AI-RAN development. Riding this wave, SynaXG plans to accelerate its product roadmap and deepen collaborations with telecom operators and enterprise partners worldwide. “We are committed to establishing our leadership in the AI-RAN space,” the company stated.

Looking ahead, SynaXG is preparing for its Series A fundraising round, which will focus on expanding commercial rollouts and advancing AI-native RAN adoption across global markets. This strategic move aims to further cement SynaXG’s position in the rapidly evolving AI-RAN landscape.