Industry News

Yeo Hiap Seng Limited, a prominent food and beverage group in Asia, has announced a significant increase in net profit for the financial year ending 31 December 2025, reaching S$21.1m. This comes despite a challenging year marked by an 11% decline in group revenue to S$292.4m, attributed to weakened consumer spending and heightened competition in key markets.

The company’s gross profit margin narrowed by 1.7 percentage points to 31.5%, primarily due to reduced production volumes. However, Yeo Hiap Seng managed to offset some of these challenges through cost optimisation efforts, even as it incurred S$2.8m in costs from implementing new enterprise resource planning software.

A notable contributor to the company’s improved net profit was other gains amounting to S$45.3m, largely from a 50-year land lease extension for its Guangzhou property. The company maintains a robust balance sheet, with cash reserves, including fixed deposits, totalling S$190.8m.

Looking ahead to 2026, Yeo Hiap Seng plans to focus on strengthening its fundamentals through margin improvement, innovation, and portfolio expansion. The company aims to launch smaller pack sizes to cater to lower-income consumers whilst scaling premium products for the middle class. Additionally, Yeo Hiap Seng intends to leverage external partnerships to accelerate product development, particularly targeting the US and European markets.

The Board of Directors has proposed a final dividend of two pence per share for fiscal year 2025, reflecting confidence in the company’s strategic direction and financial health.
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Food Empire Holdings Limited has reported a record-breaking financial performance for the year ending 31 December 2025, with revenue exceeding US$576.9m for the first time. The company also achieved an all-time high in normalised net profit after tax (NPAT), which surged by 37% to US$68.6m. This marks the fifth consecutive year of record revenue for the company.

The group’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) also reached a new high, crossing the US$100 million mark to stand at US$113.5m. Basic earnings per share increased to 12.55 US cents, up from 9.45 US cents in the previous year.

Food Empire’s CEO, Sudeep Nair, attributed the success to strategic investments in brand development and a focus on the Asian market. “This performance is driven by years of disciplined brand investment that have secured our market-leading positions across core markets,” he stated.

The company’s Russia segment led the growth with a 34.8% increase in revenue, reaching US$191m. South-East Asia and Central Asia also saw significant growth, with revenues rising by 14.3% and 25.6% respectively.

To celebrate its 25th year of listing, Food Empire’s Board of Directors has proposed a total dividend of 12 Singapore cents per share, the highest in the company’s history. Looking ahead, the company plans to expand its manufacturing facilities in Kazakhstan and Malaysia, with further projects in India and Vietnam expected to boost future growth.
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AEM Holdings Ltd. has announced a 51.6% increase in profit before tax for the financial year 2025, reaching S$21.3m. This surge is attributed to strong growth in the Artificial Intelligence (AI) and High-Performance Computing (HPC) sectors. The company’s revenue for the year rose by 5% to S$399.3m, bolstered by the ramp-up of its second AI/HPC customer.

The company’s Test Cell Solutions segment saw a 9% revenue increase, contributing S$251.4m, or 63% of total revenue. This growth was driven by the deployment of AEM’s advanced test solutions, which utilise proprietary PiXLTM thermal technology. Meanwhile, the Contract Manufacturing segment maintained steady revenue despite global trade uncertainties.

AEM’s balance sheet showed a 76.7% increase in cash and cash equivalents, with a significant reduction in loans and borrowings by 82.7%. The Board of Directors has recommended a final dividend of 1.3 Singapore cents per share, reflecting the company’s robust financial performance.

Looking ahead, AEM has provided revenue guidance of S$460m to S$510m for fiscal year (FY) 2026, driven by continued demand for AI/HPC chips. The company is also expanding into the memory test segment, with production shipments expected to begin in late FY 2026. CEO Samer Kabbani highlighted the company’s strategic positioning in the semiconductor market, stating, “The rapid ramp of our strategic AI/HPC customer’s business over the past year validates our leadership in advanced logic test.”
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Singapore’s National University Health System (NUHS) has entered a strategic partnership with GSMA Foundry to revolutionise healthcare delivery through advanced mobile technologies. This collaboration aims to integrate 5G private networks with digital twin, extended reality (XR), Internet of Things (IoT) devices, and ambient artificial intelligence (AI) to enhance healthcare services globally.

The partnership will initially focus on areas such as 5G-enabled remote surgical assistance, XR training, robotic systems, and intelligent facilities management. Adjunct Associate Professor Gao Yujia, assistant group chief technology officer at NUHS, highlighted the potential of these technologies to create “truly intelligent hospitals” that improve clinical workflows and patient outcomes.

Richard Cockle, head of GSMA Foundry, emphasised the transformative potential of connected health, stating that the collaboration aims to deliver secure, scalable solutions that enhance patient care and operational efficiency. Ericsson and Singtel are also key partners in this initiative, with Ericsson’s Daniel Ode noting the tangible benefits already achieved through the integration of 5G, AI, and robotics in Singapore.

At the upcoming MWC26 Barcelona, NUHS will showcase innovations such as a robot nurse companion, 3D holographic surgical planning, and advanced hospital-at-home technology. These demonstrations will highlight the future of healthcare powered by AI and 5G, offering insights into the practical applications and potential of connected health solutions.

The partnership between NUHS and GSMA Foundry marks a significant step towards advancing healthcare technology, with plans to expand these innovations to early adopter centres worldwide.
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Haris Michaels has been appointed as the new head of Energy & Power Eastern Region at HDI Global’s Singapore branch, effective 1 March. This strategic move underscores HDI Global’s commitment to supporting clients and broker partners in navigating the evolving landscape of power generation, traditional energy, and emerging technologies across Southeast Asia.

With over 20 years of industry experience, Michaels has a proven track record in technical, client-focused underwriting, particularly in complex engineering and energy-related risks. He joined HDI Global in 2013 and has previously held leadership roles in Australasia. Michaels relocated to Singapore in August 2025 to expand his regional mandate, succeeding Mark Mackay, who has been promoted to Global Head of Energy & Power at HDI Global.

Alex Tarantino, managing director of HDI Global Singapore, highlighted the importance of the Energy & Power sectors in Asia, driven by increasing investment and complex transition pathways. “With Haris Michaels taking on leadership responsibility for Energy & Power in Singapore, we are seamlessly strengthening continuity for clients and brokers,” Tarantino stated.

Michaels expressed enthusiasm for his new role, emphasising his focus on staying close to clients and broker partners. “My focus will be simple: staying close to clients and broker partners, understanding their projects and challenges, and bringing HDI Global’s technical expertise and responsive service to support them,” he said.

This leadership transition is expected to bolster HDI Global’s position as a trusted partner in the region’s energy transformation, offering consistent support across conventional energy, renewables, and emerging technologies.
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Cushman & Wakefield has announced the sale of two prime shophouses located at 54 and 56 Pagoda Street in Singapore’s Chinatown. These heritage properties, known for their strategic location and high foot traffic, are being offered through an Expression of Interest (EOI) exercise, closing on 1 April 2026.

The shophouses, situated in the bustling heart of Chinatown, boast a combined land area of approximately 3,011 square feet and a total built-up area of about 9,162 square feet. The ground floors are approved for retail use, benefiting from an established Outdoor Refreshment Area that enhances trading capacity. The upper floors, let to office tenants, feature modern finishes and abundant natural light, making them highly appealing.

Sophia Lim, director at Cushman & Wakefield, highlighted the rarity of such opportunities, stating, “Pagoda Street is arguably the most coveted address within Chinatown… Opportunities to acquire adjoining conserved shophouses on this street are rare.” The properties’ proximity to the Chinatown MRT Interchange further enhances their appeal.

The guide price for the shophouses is set at S$32.5m, with an estimated yield of 3.5% on the asking price. Notably, there is no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty applicable, and both foreigners and companies are eligible to purchase.

Shaun Poh, Executive Director at Cushman & Wakefield, noted the sustained demand for such assets, emphasising their resilience as long-term investments. Interested parties are encouraged to contact Cushman & Wakefield for more information before the EOI deadline.
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The Singapore Tourism Board (STB) and Ant International have renewed their strategic partnership to bolster Singapore’s tourism sector through digital innovation. This collaboration, which began in 2018, will leverage Ant International’s Alipay+ platform to enhance seamless digital experiences for global travellers and unlock new growth opportunities for local businesses.

The renewed partnership focuses on three key areas: amplifying Singapore’s destination appeal through joint marketing initiatives, advancing digital tourism with secure mobile payments, and strengthening the local travel ecosystem by using data insights to understand traveller behaviours. A campaign featuring Chinese actor Dylan Wang is set to promote Singapore during the Chinese New Year period.

In 2025, the partnership led to record spending via Alipay+ across Singapore’s tourism sector, with transactions increasing by 36% year-on-year. Spending through SGQR codes nearly tripled, benefiting small and medium-sized enterprises (SMEs). Asian travellers, particularly from Mainland China, Malaysia, and South Korea, continue to drive Singapore’s tourism industry.

Peng Yang, CEO of Ant International, highlighted the collaboration’s role in setting a benchmark for innovation and public-private partnerships in tourism. The partnership also aims to enhance Singapore’s global leadership in travel innovation by leveraging data capabilities to forecast trends and improve visitor experiences.

Looking ahead, STB and Alipay+ plan to roll out marketing campaigns featuring global celebrities to further promote Singapore’s attractions and digital connectivity, aiming to inspire visits and increase tourism spending.
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Condo resale prices in Singapore rose by 2.8% in January 2026 compared to the same month last year, according to the latest 99-SRX Media Flash Report. Despite this increase, transaction volumes fell by 3.5% from December 2025 and 6.7% year-on-year, highlighting a cautious market where buyers are selective in their purchases.

The report reveals that whilst prices in the Core Central Region (CCR) increased by 4%, the Rest of Central Region (RCR) and Outside Central Region (OCR) saw decreases of 0.2% and 1.6%, respectively. “Price movements remain varied across segments but broadly stable at the overall level,” said Luqman Hakim, Chief Data & Analytics Officer at 99.co.

In January, an estimated 853 units were resold, with the majority of transactions occurring in the OCR, accounting for 51.4% of sales. The highest resale price was recorded at The Marq On Paterson Hill, fetching S$37m. Meanwhile, the RCR’s highest transaction was S$6.2m at Maple Woods, and the OCR’s was S$4.5m at Bedok Residences.

The overall median capital gain for resale condos increased by S$20,000 from December 2025, reaching S$380,000. District 21, Clementi Park/Upper Bukit Timah, posted the highest median capital gain at S$924,000, whilst District 8, Farrer Park/Serangoon Rd, saw the lowest at S$170,000.

As the market adjusts to a more measured buying sentiment, the report suggests that stable to modestly rising prices indicate a steady market despite the decline in transaction volumes.

Digital Realty, the world’s largest cloud- and carrier-neutral data centre platform, has announced the expansion of its Digital Realty Innovation Lab (DRIL) programme into Singapore and Japan. This marks the first extension of the company’s global initiative into the Asia Pacific region, following the successful launch of its inaugural facility in Northern Virginia in September 2025.

The new DRIL facilities will offer customers and partners real-world environments to test and optimise artificial intelligence (AI) and hybrid cloud deployments. As AI adoption grows, infrastructure readiness is becoming a significant challenge. These labs aim to help enterprises validate high-density configurations and refine hybrid architectures before scaling to production.

In Singapore, the DRIL will serve as a regional innovation hub, fostering collaboration among customers, partners, research institutions, and global technology providers. Meanwhile, in Japan, the lab will be located at Digital Realty’s NRT12 data centre in Greater Tokyo, featuring 20 racks with direct liquid cooling to support high-power-density AI and high-performance computing workloads.

Serene Nah, Managing Director and Head of Asia Pacific at Digital Realty, stated, “Sustaining rapidly expanding digital economies requires innovation ecosystems built on infrastructure that is not only AI-ready, but also efficient, resilient, and trusted.”

The new DRIL locations will enable businesses to test performance, optimise configurations, and seamlessly connect to cloud and network providers via ServiceFabric, Digital Realty’s global interconnection platform. This expansion underscores Digital Realty’s commitment to supporting AI innovation in Singapore and Japan, enhancing the region’s digital competitiveness.

The Urban Redevelopment Authority (URA) has launched a tender for a residential site in Holland Plain under the Confirmed List of the government land sales (GLS) programme for the first half of 2026. The 1.57-hectare plot is expected to yield 280 new private homes, marking the first GLS site tender of the year. This site is adjacent to another plot in Holland Link, awarded in August 2025.

The Holland Plain area is set to transform into a private residential enclave featuring two parks, including a wetland park. The development will include green “fingers” to facilitate access to the King Albert Park MRT station and the Rail Corridor. The King Albert Park MRT station, currently on the Downtown Line, will become an interchange with the upcoming Cross Island Line by 2032.

The site is within 1 km of Methodist Girls’ School, with other reputable schools like Henry Park Primary School and Pei Hwa Presbyterian Primary School located 1 to 2 km away. The area’s educational institutions, coupled with future developments, may attract developers despite the current lack of amenities and limited transport access.

The land price for the adjacent Holland Link site, secured by Sim Lian Group for $1,432 psf ppr, could set a benchmark for the Holland Plain tender. PropNex anticipates three to five bids, with the top bid potentially reaching $1,400 to $1,500 psf ppr.

Separately, URA has made a Reserve List site in Morrison Lane available, potentially yielding 205 residential units and 500 sq m of commercial space. However, developers may prioritise other upcoming sites in River Valley Green and Peck Hay Road due to more attractive location attributes.