Industry News

Hyphens Pharma International Limited, Singapore’s leading speciality pharmaceutical and consumer healthcare group, has announced a net profit of S$6.1m for the financial year ending 31 December 2025. Despite a 9.2% decline in overall revenue to S$177.4m, the company achieved historical highs in gross profit and margin, driven by strategic portfolio optimisation.

The company’s proprietary brands segment saw a significant 33.1% growth, bolstered by strong demand for Ceradan® dermatological products and Ocean Health® supplements. This growth was partially offset by declines in the Pharmaceutical and Medical Aesthetics segment, which experienced an 18.4% revenue drop due to factors such as lower sales in Vietnam and brand transitions.

Hyphens Pharma’s Executive Chairman and CEO, Lim See Wah, highlighted the company’s resilience in the face of macroeconomic challenges, including foreign exchange volatility and elevated operating costs. “Our FY2025 financial results reflect our ongoing efforts to improve the quality of our earnings as we optimise our product portfolios with a focus on higher margins,” he stated.

The Group also reported a strong net operating cash inflow of S$18.7m and proposed a final dividend of 1.5 Singapore cents per share for FY2025. Looking forward, Hyphens Pharma aims to continue enhancing its market access and penetration, particularly in its Proprietary Brands segment, whilst leveraging emerging technologies in its Digital Platform and e-Pharmacy segment.

As the company navigates external headwinds, it remains focused on execution, risk management, and long-term value creation, underscoring its commitment to sustaining growth and shareholder value.

Tiong Woon Corporation Holding Ltd, a Singapore-based heavy lift specialist, has announced the acquisition and advancement of projects in the semiconductor, public infrastructure, and biopharmaceutical sectors, with a combined value exceeding $40m. These projects are anticipated to be completed over the next two financial years, significantly impacting the company’s earnings per share and net tangible asset value for the financial year ending 30 June 2026.

The company’s Executive Director and CEO, Ang Guan Hwa, highlighted the firm’s commitment to delivering “safe, reliable and technically robust lifting solutions” across various sectors. TWC’s diversified fleet and project management expertise are pivotal in supporting complex, high-specification developments, reinforcing customer confidence in their technical capabilities.

TWC, listed on the Singapore Exchange since 1999, is renowned for its integrated heavy lift services, primarily supporting the oil and gas, petrochemical, infrastructure, and construction sectors. The company manages turnkey projects, from planning and designing heavy lifting requirements to execution, and operates its own heavy lifting equipment, tugboats, and barges. This operational model allows TWC to provide flexible and efficient services to its clients.

With a strong regional presence in 12 countries, TWC continues to uphold its reputation for delivering high-quality and safe services globally. The company is ranked 15th in the IC100 2025 survey, reflecting its significant industry standing.

Singapore’s OUE REIT Management Pte. Ltd. has announced a strategic acquisition, securing a 19.9% interest in the Salesforce Tower, a prime commercial property in Sydney’s Central Business District (CBD). The deal, valued at A$357.2m (approximately S$319.8m), marks OUE REIT’s first foray into the Australian market, enhancing its portfolio with a high-quality asset in a key location.

The Salesforce Tower, a 55-storey freehold property located at 180 George Street, boasts nearly full occupancy and a long weighted average lease expiry (WALE). This acquisition is expected to be yield-accretive, delivering a distribution per unit (DPU) accretion of 0.9%. The move aligns with OUE REIT’s strategy to diversify geographically whilst maintaining a strong presence in Singapore, where 94.9% of its portfolio remains post-acquisition.

The Sydney CBD’s Core Precinct is experiencing tightening prime supply and improving rental conditions, making this acquisition timely. The property is noted for its strong environmental, social, and governance (ESG) credentials, further enhancing its appeal. “This acquisition represents a rare opportunity to acquire a premium asset in Sydney’s Core CBD,” stated OUE REIT Management.

The acquisition will be funded through a combination of debt and proceeds from the recent divestment of Lippo Plaza Shanghai. Completion is expected in the first half of 2026, before 27 May. This strategic expansion into Sydney’s CBD is anticipated to provide OUE REIT with stable cash flow and reduced portfolio concentration risk, whilst offering potential upside in a robust market.

SBS Transit has revealed its financial results for the year ending 31 December 2025, reporting a 2.7% decrease in group revenue to $1.52b. The decline is attributed to lower bus revenue following the loss of the Jurong West bus package in September 2024. Despite this, the company has proposed a special dividend of 31.99 cents per share, alongside a final dividend of 8.66 cents per share.

The company’s operating costs fell by 2.5% to $1.45b, primarily due to reduced fuel and electricity expenses. However, operating profit dropped by 6.9% to $68.1m, and net profit attributable to shareholders fell by 13% to $61.2m. SBS Transit Group CEO Jeffrey Sim stated, “We remain focused on strengthening our competitive edge in our bus operations as well as in enhancing our rail reliability.”

Public Transport Services, which includes bus and rail operations, saw a 3% revenue decline to $1.45b. This was mainly due to reduced bus revenue, although rail revenue increased due to higher fares and ridership. Average daily ridership on the North East Line and Downtown Line rose by 2.2% and 1.1%, respectively, whilst the Sengkang-Punggol LRT saw a 2.6% decrease.

Looking ahead, SBS Transit anticipates a further decline in bus revenue with the loss of the Tampines Bus Package in July 2026. However, rail revenue is expected to rise due to fare adjustments and increased ridership. The proposed dividends will be subject to approval at the Annual General Meeting on 23 April 2026.

QAI Ventures has announced a strategic partnership with Japan’s SoftBank Corp. and UK-based HorizonX to establish a quantum hub in Singapore. The initiative, unveiled on 25 February 2026, aims to transition quantum-classical hybrid computing from research to commercial applications across finance, industrials, life sciences, and communications & networks.

The collaboration is part of QAI Ventures’ Industry Clusters Programme, which combines venture capital funding, accelerator programmes, and venture building to support Singapore’s quantum computing ambitions. This move aligns with Singapore’s Research, Innovation, and Enterprise (RIE) 2030 plan, which includes a S$37b investment to bolster the digital economy and national security.

Alexandra Beckstein, CEO and Founder of QAI Ventures, stated, “We are growing the Quantum-AI architecture of the next decade by supporting innovators and building an ecosystem out of Singapore.” The programme will focus on four key sectors to drive innovation and strengthen quantum applications.

HorizonX, in partnership with MIT, will provide education to bridge the knowledge gap in deep tech, whilst SoftBank Corp. will support AI and quantum infrastructure development. This initiative is part of Singapore’s broader strategy to establish itself as a global leader in QuantumAI, with QAI Ventures playing a pivotal role in this transformation.

EtonHouse International Education Group has partnered with OpenAI to launch ChatGPT Edu, a secure enterprise-grade AI workspace across its global education network. This initiative aligns with Singapore’s national AI strategy, announced in Budget 2026, which aims to accelerate AI deployment across various sectors. The rollout extends AI integration beyond classrooms into operations, marketing, and administration, enhancing institutional capability and governance.

The AI workspace, implemented across EtonHouse’s schools and brands, including E-Bridge Pre-School, is designed to support various enterprise functions. It employs role-based access controls and single sign-on authentication to ensure secure and compliant AI usage. This governance-first approach marks a shift from isolated AI experimentation to structured, scalable adoption.

EtonHouse’s previous development of Lumina, an AI-powered lesson planning platform, laid the groundwork for this new phase of AI integration. The deployment of ChatGPT Edu allows teams to conduct structured analysis, generate reports, and enhance development workflows using OpenAI’s Codex tool. The initiative aims to augment, not replace, professional judgement, as emphasised by EtonHouse’s Group CEO, Ng Yi Xian: “AI should amplify good practice, not replace it.”

The rollout includes staff training with OpenAI experts and clear usage guidelines to ensure responsible AI deployment. As Singapore advances its AI ambitions, EtonHouse’s initiative demonstrates how educational institutions can contribute to national AI capability building. This move signals a transition to secure, scalable AI integration, reinforcing EtonHouse’s commitment to innovation and responsible deployment.

Genting Singapore Limited has announced its financial results for the fiscal year ending 31 December 2025, reporting a revenue of $2,452.1m. The company’s adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at $815.8m, marking a 15% decline from the previous year. This decrease is attributed to the costs associated with new launches and ongoing infrastructure upgrades at Resorts World Sentosa (RWS).

The company’s revenue experienced a slight 3% year-on-year decline, primarily due to a lower win rate in gaming revenue. However, non-gaming revenue saw an upswing in the latter half of the year, bolstered by refreshed attractions and hospitality offerings that enhanced guest engagement. Despite these challenges, Genting Singapore maintained a strong balance sheet with total equity of $8.2b and cash reserves exceeding $3.2b.

Tan Sri Lim Kok Thay, Chairman and Acting CEO, described 2025 as a “defining transition year” for the company, highlighting the significant phase of asset refresh at RWS. He expressed confidence in the newly reinforced management team’s ability to execute the RWS 2.0 vision effectively.

In terms of shareholder returns, the Board has proposed a final dividend of 2.0 cents per share, bringing the total dividend for FY2025 to 4.0 cents per share, consistent with the previous year. This decision underscores the company’s commitment to sustainable shareholder returns whilst supporting ongoing operations and strategic investments.

A recent study by The Investors Centre has identified the United States, United Kingdom, and Singapore as the most cost-effective countries for retail investment platforms. The research, which examined platform-driven trading costs across 50 countries, highlights that whilst zero-commission trading is now standard, other fees such as spread markups, FX conversion fees, and overnight financing charges significantly impact net returns.

The study analysed fees from major platforms like Capital.com, Trading 212, and Interactive Brokers, excluding government taxes and statutory levies. It found that in the US, deep liquidity and intense broker competition minimise FX drag, whilst the UK’s high fintech density and transparent pricing compress spreads. Singapore benefits from efficient FX markets and competitive funding rates.

Conversely, Nigeria, India, and Brazil rank as the highest-cost environments due to wider FX conversion spreads and higher financing charges. The findings underscore that commission-free trading does not equate to cost-free investing, with the gap between advertised and actual trading costs in the US exceeding 60%.

Thomas Drury, Co-Founder and Senior Trading Analyst at The Investors Centre, noted, “In mature financial hubs, competition has largely eliminated visible commissions. What differentiates markets today is execution quality, FX efficiency, and financing competitiveness.”

The report suggests that retail investors can benefit from lower-cost markets by minimising FX drag, understanding spread and funding mechanics, and focusing on execution efficiency. The analysis was conducted using a standardised transaction basket across six global regions, ensuring accuracy and comparability.

Singapore Airlines (SIA) Group has reported a significant 25.9% increase in operating profit for the third quarter of FY2025/26, driven by record revenue of S$5,506m. This growth was attributed to robust passenger demand and stronger yields, despite a decline in net profit due to the absence of a one-off accounting gain from the previous year.

The Group’s financial results revealed that passenger numbers rose by 6.3% year-on-year, with SIA and its low-cost subsidiary, Scoot, carrying 10.9 million passengers. The passenger load factor improved to 87.5%, supported by a 2.8% capacity expansion. However, cargo revenue decreased by 5.4% to S$581m, as yields fell by 6.2%.

Total expenditure increased by 2.7% to S$4,714m, primarily due to higher non-fuel and net fuel costs. The operating profit reached S$792m, marking a S$163m increase from the previous year. However, net profit dropped by 68.9% to S$505m, impacted by the absence of a S$1,098m gain from the disposal of Vistara following its merger with Air India in 2024.

SIA’s fleet and network developments included the addition of new aeroplanes to Scoot’s fleet and the expansion of routes to destinations such as Sapporo, Danang, and Kota Bharu. The Group’s passenger network now spans 134 destinations across 37 countries and territories.

Looking ahead, SIA plans to enhance its premium travel offerings, with ongoing upgrades to its lounges and in-flight services. These initiatives aim to reinforce SIA’s industry leadership and improve the overall customer experience.

Great Eastern Holdings Limited has announced a record profit attributable to shareholders of S$1,207.1m for the financial year ending 31 December 2025. This represents a 21% increase from the previous year, driven by favourable investment performance and earnings from its existing in-force portfolio. Despite a 15% decline in Total Weighted New Sales, the Group’s strategic shift towards a diversified range of longer-term products has been a key factor in its financial success.

The New Business Embedded Value (NBEV) saw a significant increase of 19% to S$739.7m, reflecting improved channel productivity and strong growth in Singapore’s bancassurance sector. Group CEO Greg Hingston attributed the robust results to disciplined capital management and operational efficiency, stating, “Our performance reflects both favourable investment returns and the strength of our underlying business fundamentals.”

The Board of Directors has proposed a final one-tier tax exempt dividend of 30 cents per share, pending approval at the Annual General Meeting. This, combined with an interim dividend of 25 cents per share paid in September 2025, brings the total dividend for FY2025 to 55 cents per share—a 22% increase from the previous year.

In Singapore, Great Eastern has expanded its product offerings and customer engagement, launching 18 new products and enhancing its Great Medical Care Concierge service. In Malaysia, the Group introduced “The Great Journey,” an initiative connecting hospitals and clinics to provide coordinated healthcare. Additionally, the Group has advanced its digital and AI capabilities, improving advisory and claims processes.

The company’s strong performance and strategic initiatives position it well for sustainable growth in the coming years.