Industry News

Domino’s Pizza Singapore has announced the launch of new franchise opportunities, aiming to bolster its presence across the island. The initiative invites aspiring entrepreneurs and business owners to join the globally recognised brand, leveraging its proven business model and local market expertise.

Ringo Joannes, Region Chief Executive Officer of Domino’s Pizza Singapore, Malaysia & Cambodia, highlighted Singapore as a strategic growth market for the company. “Our achievements here are driven by solid partnerships, disciplined execution and an unwavering customer focus,” he stated. The company is seeking franchise partners who are entrepreneurial, values-led, and ready to build sustainable success over the long term.

Franchisees will benefit from comprehensive support, including structured training programmes in operations, food safety, and people management. Additionally, Domino’s offers continuous operational and strategic guidance, a robust marketing and digital ecosystem, and access to centralised expertise in various domains such as IT, finance, and marketing.

The franchise model provides exclusive trade areas and established systems, allowing partners to focus on operational excellence and delivering exceptional customer experiences. Entrepreneurs with strong business acumen and a passion for service excellence are encouraged to explore this opportunity.

Domino’s Pizza Singapore, recognised as one of ‘Singapore’s Best Employers 2022’, currently operates over 45 stores in the country. For more information on franchising, interested parties can visit Domino’s Singapore website.

Tan Boon Liat Building, a 15-storey industrial property located at the junction of Outram Road and Zion Road, is up for its second collective sale. Cushman & Wakefield, acting as the exclusive adviser and marketing agent, has launched the site for public tender at a reserve price of $1b, following over 80% owner consensus. The tender is set to close on 12 May 2026.

The freehold site, positioned above the Havelock MRT Station, spans 13,103.8 square metres and includes two separate land plots. The Urban Redevelopment Authority (URA) has advised a rezoning from “Business 1” to “Residential with Commercial at the 1st storey,” increasing the plot ratio from 3.1 to 4.9. This change allows a 50% uplift in the total allowable gross floor area.

Additionally, three remnant state land plots, totalling approximately 1,365 square metres, are to be amalgamated with the main plot, bringing the total site area to about 16,318.9 square metres. The potential gross floor area, including bonus entitlements, exceeds 95,166.22 square metres. The development can support up to 1,500 square metres of commercial space on the first storey, with a minimum of 10,000 square metres designated for serviced flats.

Christina Sim, Senior Director of Capital Markets at Cushman & Wakefield, noted the site’s unique appeal, citing its freehold status and location on the Thomson-East Coast line. She highlighted the absence of Additional Buyer’s Stamp Duty due to its original zoning, making it an attractive investment opportunity.

The tender for the site will conclude on 12 May 2026 at 3.00 pm.

Hitachi has partnered with the Singapore Institute of Technology (SIT) to create a pioneering Hybrid AC/DC Rack-Level Power Distribution Testbed for data centres. This initiative, the first of its kind in Singapore, will be integrated with SIT’s Multi-Energy Microgrid at the Punggol Campus. The microgrid, a first for a Southeast Asian university, combines solar photovoltaic generation with other energy resources to optimise campus-wide energy use. This collaboration will allow Hitachi and SIT to test advanced hybrid power solutions in real-world conditions.

The increasing digitalisation and AI demand in Southeast Asia are driving up energy consumption in data centres, particularly in tropical climates. This trend highlights the need for more efficient energy solutions to reduce costs and carbon emissions. The testbed will explore hybrid AC/DC power distribution, including higher-voltage direct current systems, to improve renewable energy integration. The results will inform future developments in energy-efficient data centre architectures.

SIT students will benefit from hands-on experience in energy innovation, working with Hitachi’s R&D team. This aligns with SIT’s approach to applied learning, preparing students for future engineering challenges. Dr Lin Wujuan of Hitachi Asia emphasised the importance of integrating renewable energy in high-demand facilities, stating, “This collaboration is a testament to our ongoing commitment to developing sustainable solutions.”

Professor Steven Wong from SIT added, “Through SIT’s applied learning and research ecosystem, we work closely with industry partners to test and refine hybrid AC/DC power solutions.” This partnership underscores SIT’s role in advancing practical energy innovation and supporting sustainable digital infrastructure.

OCBC Group has announced a net profit of S$7.42b for the full year 2025, marking a 2% decrease from the previous year. The profit before tax, however, rose by 2% to a record S$9.12b, attributed to robust growth in non-interest income and well-managed expenses. The bank’s non-interest income surged by 16%, with significant contributions from fees, trading, and insurance income, whilst net interest income declined by 6% due to a challenging interest rate environment.

The bank’s asset quality remained resilient, with credit costs reduced to 17 basis points. OCBC’s capital position was strong, with a Common Equity Tier 1 Capital Adequacy Ratio (CET1 CAR) of 15.1%. The bank proposed a final dividend of 42 pence and a special dividend of 16 pence, reinforcing its commitment to completing its capital return plan by the end of 2026.

Looking ahead, OCBC aims to maintain its strong financial position and continue delivering value to its shareholders through strategic growth and disciplined cost management. The bank’s focus on diversifying its income sources and maintaining asset quality will be crucial in navigating the evolving financial landscape.

Sides, the UK’s fastest-growing hot-chicken brand, has expanded its presence in Singapore by opening a second store at Universal Studios Sentosa. This development is a significant milestone in the brand’s international expansion strategy, following the successful launch of its first Singapore outlet in April 2025.

The new store is part of Sides’ broader plan to accelerate growth across Southeast Asia, with Malaysia identified as the next key market. Aaron Moore-Saxton, Managing Director at Sides, stated, “We’ve seen incredible appetite for the brand beyond the UK, and this launch builds on the momentum we’ve already established in Singapore and Asia.”

Sides, founded by the UK’s largest YouTube collective, the Sidemen, in collaboration with Hero Brands, has been rapidly expanding its footprint. The brand currently operates five restaurants in the UK and has announced new openings in Scotland, marking its entry into the Scottish market with sites in Glasgow and Livingston.

The expansion in Singapore is part of a multi-year growth strategy aimed at establishing Sides as a global hot-chicken brand. Moore-Saxton added, “Singapore represents a significant step in our international journey. The response to our first store has been incredibly strong, and this next opening reflects the growing appetite for the Sides brand beyond the UK.”

With its ambitious plans for Southeast Asia and continued growth in the UK, Sides is poised to become a leading name in the hot-chicken market worldwide.

Singlife, a prominent financial services company, has partnered with MUFG Bank, Ltd. (MUFG) to finalise a bespoke S$550m financing facility, marking one of the largest transactions in Singapore’s insurance sector. The facility, announced on 24 February 2026, aims to redeem S$550m of subordinated notes, thereby optimising Singlife’s capital structure.

Following its acquisition by Sumitomo Life, Singlife conducted a thorough review of its capital structure to maintain capital strength, optimise balance sheet efficiency, and ensure long-term funding stability amidst fluctuating interest rates. MUFG, acting as the sole capital structure adviser and exclusive financier, provided a tailored financing solution to meet these objectives.

The transaction highlights MUFG’s capability in delivering integrated financing solutions within the insurance sector, a strategic focus for its corporate and investment banking division. Danny Fischer, Managing Director and Head of Solutions for APAC at MUFG, emphasised the importance of execution certainty and consistency in addressing Singlife’s evolving capital needs. “By combining structuring expertise, balance sheet capacity, and disciplined risk management, MUFG worked closely with Singlife to deliver an integrated, seamless solution,” Fischer stated.

Singlife’s Chief Financial Officer, Sumit Behl, noted that the refinancing reflects a proactive approach to capital management, reinforcing the company’s commitment to financial resilience and sustainable growth. Legal counsel for the transaction was provided by Ashurst LLP for MUFG and Allen & Gledhill for Singlife.

The Morrison Lane site, located along Mohamed Sultan, is poised to be triggered for sale, according to Mark Yip, CEO of Huttons Asia. Previously utilised as transitional office space, the site is now drawing attention due to the rising demand for homes in Singapore’s Core Central Region (CCR).

In 2025, demand for CCR homes reached its highest level in four years. This trend was highlighted by the successful launch of Newport Residences, the first CCR project of 2026, which sold over 50% of its units during the launch weekend. Additionally, River Modern, the last plot of land facing the Singapore River in District 9, attracted more than 7,000 visitors in its first week of preview, indicating a robust confidence in the CCR market.

Yip noted that the successful bid for the Morrison Lane site could range between $1,400 and $1,500 per square foot per plot ratio (psf ppr). This would result in a total cost of approximately $300m, a figure that is expected to appeal to up to five developers eager to enter the CCR market.

The potential sale of the Morrison Lane site underscores the growing interest in prime residential locations within Singapore, as developers seek to capitalise on the strong demand for high-end properties. As the market continues to evolve, the outcome of this sale could set a precedent for future developments in the region.

OKP Holdings Limited, a Singapore-based infrastructure and civil engineering company, has announced a 33% increase in net profit, reaching S$43.6m for the financial year ending 31 December 2025. This growth was supported by a record revenue of S$223.5m, marking a 22.9% rise from the previous year. The company attributes this success to robust performances in its construction and maintenance segments, which saw revenue increases of 35.6% and 6.2% respectively.

The company’s order book stands at a healthy S$588m, providing revenue visibility until 2031. OKP Holdings also reported a strong balance sheet, with free cash and cash equivalents rising to S$155.9m from S$124.3m at the end of 2024. In light of these results, the Board of Directors has proposed a total dividend of 2.0 Singapore cents per share, following a recent bonus issue.

Group Managing Director Or Toh Wat highlighted the company’s focus on technology adoption and innovation as key factors in maintaining a competitive edge. He stated, “Our robust order book reflects the continued trust of our customers and positions us well to capitalise on growth opportunities.”

Looking ahead, OKP Holdings plans to sustain its growth momentum through disciplined cost management and strategic partnerships. The company aims to diversify its earnings base by exploring property developments and other investments, whilst continuing to focus on its core competencies in transport infrastructure and civil engineering.

Aspial Lifestyle Limited has announced a remarkable 142% increase in its profit after tax for the financial year ending 31 December 2025, reaching a record S$84.4m. This surge was primarily driven by a 41% rise in revenue to S$830.1m, attributed to robust retail growth, increased pawnbroking interest income, and stronger secured lending revenue.

The company also reported a significant 172% year-on-year increase in profit after tax for the second half of 2025. In response to this exceptional performance, Aspial Lifestyle has doubled its dividend for the second half of 2025 to 0.8 Singapore cents per ordinary share, resulting in a total dividend of 1.2 Singapore cents per share for the year—a 50% increase from the previous year.

Aspial Lifestyle’s CEO, Ng Kean Seen, highlighted the success of the company’s strategy, stating, “We are pleased to report record revenue and profit in FY2025, driven by successful execution of our strategy for the year.” He noted that the company’s strengths in retail, pawnbroking, and secured lending, supported by disciplined inventory management and effective financing solutions, have been key contributors to this success.

Looking ahead, the company anticipates strong operating momentum as it enters FY2026, expecting business conditions in the first half of the year to deliver a substantially stronger performance. With a focus on gold-related products and financial services, Aspial Lifestyle is well-positioned to sustain its solid performance.

Pan Pacific Hotels Group (PPHG) has appointed Kung Teong Wah as Cluster General Manager for PARKROYAL COLLECTION Pickering and PARKROYAL on Beach Road in Singapore. This strategic move aims to bolster operational excellence and long-term growth within PPHG’s Singapore portfolio. Teong Wah will continue to lead PARKROYAL COLLECTION Pickering whilst assuming strategic oversight of PARKROYAL on Beach Road, collaborating closely with its General Manager, Damian Tan.

Teong Wah, a seasoned hospitality leader with over 30 years of experience, has been instrumental in driving innovation and sustainability at PARKROYAL COLLECTION Pickering. His initiatives have included the renovation of event spaces and the integration of technology-driven capabilities. Under his leadership, the hotel has become a model for workforce transformation, aligning with Singapore’s Hotel Industry Transformation Map.

Choe Peng Sum, CEO of PPHG, praised Teong Wah’s track record, stating, “Teong Wah is a respected hospitality leader with a strong track record of driving performance whilst building future-ready teams.” His leadership has been recognised with accolades such as the ‘Top 5 Best Hotel General Managers in Singapore’ at the Travel + Leisure Luxury Awards Asia Pacific 2025.

Teong Wah expressed his commitment to fostering inclusive workplaces and nurturing talent, saying, “It is a privilege to serve alongside two passionate teams who care deeply about hospitality.” His expanded role underscores PPHG’s dedication to sustainable growth and leadership succession, ensuring the distinct identity of each property is preserved whilst strengthening their position in Singapore’s dynamic hospitality landscape.