Industry News

The Nature Conservancy (TNC) has announced the appointment of Tamara Singh as Managing Director, Singapore and Senior Adviser, Regional Programmes, effective 1 April 2025. Singh will spearhead TNC’s initiatives to enhance climate action and conservation impact from Singapore, leveraging its strategic position as a hub for innovation and partnerships.

Singh brings over 20 years of experience in energy, finance, and sustainability, having worked with major firms such as Centrica, BP, Deutsche Bank, and Macquarie Bank. Since returning to Singapore in 2012, she has led digital transformation and sustainable finance initiatives. Her role will involve accelerating Nature-based Solutions (NbS) across Asia-Pacific and globally, aligning with Singapore’s 2030 Green Plan.

Will McGoldrick, Regional Managing Director, Asia-Pacific at TNC, stated, “Tamara’s appointment strengthens TNC’s ability to drive tangible climate action and conservation impact across Asia-Pacific. Her expertise in sustainable finance and ability to bridge the private and public sectors will be invaluable.”

Singh expressed her commitment, saying, “Joining one of the world’s most respected conservation organisations at a time when the need for bold, science-driven climate action has never been more urgent is both an honour and a responsibility.”

TNC’s programme in Singapore, established in late 2022, focuses on catalysing NbS and carbon markets, fostering research collaborations, and supporting regional corporate partnerships. In 2023, TNC joined the Southeast Asia Climate and Nature-based Solutions Coalition to accelerate high-quality, triple-benefit NbS projects across the region. Singh’s leadership is expected to further these efforts, reinforcing Singapore’s role as a global conservation and climate finance hub.
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ETC Travel Retail has inaugurated its first store at Changi Airport’s Terminal 2, aiming to introduce Singaporean food brands to international travellers. The store, located in the Transit/Departure Lounge, is part of ETC’s strategy to market local small and medium enterprises (SMEs) globally. By partnering with SME brand owners, ETC selects key products for travel retail, allowing these brands to focus on local operations whilst ETC handles international marketing.

ETC, which stands for Engage, Transform, Connect, is the brainchild of Edmond Wong, a London-born Singaporean and former Chartered Accountant. Wong’s vision for ETC was inspired by his own travel experiences and the lack of Singaporean products available at airports. “When I started working with local brands for ETC, I also noticed there was a possibility to truly bring Singapore products to the international market through the ETC concept, and to bring truly great Singapore brands international is my dream,” Wong stated.

The Terminal 2 store is set to open in mid-March 2025, with a Terminal 1 outlet following in July 2025. These stores will be accessible to departing passengers, whilst non-travellers can find ETC products at Marina Square and a kiosk in Jewel, opening in May. Additionally, ETC’s products are available online through platforms like Shopee Mall and Lazada Mall.

ETC’s initiative not only boosts the visibility of Singaporean brands but also provides insights into international market preferences, paving the way for smoother global expansion for local SMEs.
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GXS Bank has unveiled an innovative savings initiative called “Pocket is Right,” designed to encourage customers to save more whilst offering them the opportunity to win a trip. The game, launched recently, combines the excitement of guessing with the practicality of saving, aiming to engage users in a fun and rewarding manner.

The “Pocket is Right” game invites participants to save a specified amount of money and then guess the total amount saved by all participants. Those who guess closest to the actual total will stand a chance to win a trip, adding an element of excitement to the savings process. This initiative is part of GXS Bank’s broader strategy to promote financial literacy and encourage better savings habits among its customers.

Eryka Rojas, Senior Campaign Executive at TEAM LEWIS, highlighted the bank’s commitment to innovative customer engagement. “We are thrilled to introduce ‘Pocket is Right’ as a unique way to motivate our customers to save whilst having fun,” she said.

The game is accessible to all GXS Bank account holders, and participants can join by visiting the bank’s website. This initiative not only aims to boost savings but also to enhance customer interaction with the bank’s digital platforms.

As GXS Bank continues to explore creative ways to engage its customers, “Pocket is Right” represents a significant step in combining financial responsibility with entertainment. The bank hopes this approach will foster a more engaged and financially savvy customer base.
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General Omi Beef Trading Company, renowned for its Omi beef exports from Shiga Prefecture, Japan, is set to open its second steak speciality store, STEAK SUDAKU, in Singapore on 4 April 2025. The new establishment, located at 302 Beach Rd, will operate under the company’s subsidiary, OMIGYU TRADING SINGAPORE PTE LTD, and aims to promote the Omi beef brand in the region.

The restaurant will feature a fast-casual dining experience, focusing on Omi beef steaks as its primary offering, with an emphasis on quick service and delivery. The brand name, STEAK SUDAKU, is derived from the Chinese characters 喜达聚, which convey the idea of gathering and enjoyment.

Takaoki Nishino, CEO of General Omi Beef Trading Company, expressed enthusiasm for the new venture, highlighting the potential for franchise opportunities. The company is actively seeking franchisees to expand the STEAK SUDAKU brand further.

The store will be open from 11:00 to 15:00, with last orders at 14:30, and from 17:00 to 21:00, with last orders at 20:30. This expansion marks a significant step in the company’s strategy to establish a strong presence in Singapore’s competitive dining scene.

As the company looks to the future, the opening of STEAK SUDAKU not only broadens the reach of Omi beef but also offers potential business opportunities for local entrepreneurs interested in joining the franchise.
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The Straits Times Index (STI) recorded a 5.3% total return in the first quarter of 2025, according to data from the Singapore Exchange (SGX) and Refinitiv. This performance comes despite a broader market downturn, highlighting the resilience of certain sectors and stocks within the index.

Amongst the top performers in Q1 2025 were stocks with codes S63, U96, and U14, which achieved total returns of 46%, 15%, and 15% respectively. Notably, Singtel and CapitaLand Integrated Commercial Trust also showed strong performances, with both achieving 11% total returns. The STI’s robust performance was supported by a net institutional inflow of S$50m, particularly benefiting larger-cap Singapore Real Estate Investment Trusts (S-REITs).

The Lion-CM CSI Dividend Index ETF, which provides exposure to high-yielding A-Shares on the Shanghai and Shenzhen Stock Exchanges, also played a role in the market dynamics. The ETF maintains a 6.2% indicative dividend yield and includes 100 constituents selected for high cash dividend yields and stability. The Energy sector, comprising 20% of the index, aligns with China’s ongoing energy transition efforts.

Looking ahead, the outlook for US Federal Reserve rates has shifted to a more dovish stance, with expectations of further rate cuts by 2026. This could influence future market conditions and investor sentiment. Additionally, China’s retail sales growth, projected to reach 5% in 2025, may positively impact S-REITs with retail assets in the Greater China region.

In summary, the STI’s performance in Q1 2025 underscores the resilience of certain sectors amidst market volatility, with implications for future investment strategies and economic conditions.
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A groundbreaking AI-powered coaching assistant was unveiled at the Uncommon Leadership Academy’s showcase in Singapore, aiming to revolutionise leadership development. Hosted at CATAPULT’s Leaders Unleashed Campus, the event gathered top executives, HR professionals, and corporate decision-makers to explore this innovative tool designed to transform how leaders grow, coach, and lead.

The showcase, led by leadership expert and author Ruchira Chaudhary, offered an immersive experience with workshops and development tools. Chaudhary, co-founder of the Uncommon Leadership Academy, emphasised the importance of coaching as a leadership superpower, stating, “Our goal is to enable leaders by giving them the tools to improve themselves to then elevate their organisations.”

The AI coaching assistant provides real-time insights and executive coaching strategies, complementing human coaches rather than replacing them. Dr James Andrade, head of CATAPULT Executive Leadership and Innovation Institute, remarked, “The future of leadership is not just about skills—it’s about coaching, adaptability, and innovation.”

The event highlighted the AI assistant’s role in delivering actionable feedback and driving behaviour change across organisations. It also showcased supplementary workbooks and learning cards to support leadership development. The Uncommon Leadership Academy aims to pave the way for a new generation of leader-coaches who inspire and transform.

As businesses face a changing world, the integration of AI in leadership coaching is set to make development more personalised and effective, offering significant potential for growth across various sectors, including private equity.
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DFI Retail Group has announced a positive outlook for its earnings recovery in the upcoming financial year, following the divestment of its Singapore food business. The company, which is maintaining a “buy” recommendation with a new target price of $3.03, anticipates a 30% upside and a forecasted yield of approximately 5% for the financial year 2025. This strategic move is expected to alleviate the long-term earnings drag previously experienced by the group.

The decision to divest is seen as a step towards enhancing the company’s overall valuation, with the stock currently trading at an attractive 13 times the forecasted price-to-earnings ratio for 2025. The dividend yield remains appealing, bolstered by the parent company, Jardine Matheson Holdings, which traditionally uplifts dividends back to the group level.

Analyst Alfie Yeo expressed confidence in the group’s trajectory, stating, “We remain positive on DFI Retail Group’s earnings recovery expectations and attractive valuation.” This optimism is underpinned by the company’s strategic decisions aimed at streamlining operations and focusing on core areas of growth.

The anticipated recovery in earnings is significant for investors, as it signals a potential turnaround in the group’s financial performance. The move is also expected to enhance shareholder value through improved dividend yields and a stronger market position. As DFI Retail Group navigates these changes, the market will be closely watching its performance in the coming year.
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Colliers has announced the appointment of Steven Tan as Executive Director, Co-head of Investment Services, and Samuel Choo as Director, Investment Services in Singapore. With over 30 years of experience, Steven Tan will lead the team alongside Tan Boon Leong, focusing on positioning Colliers as a market leader in investment services. Previously, Tan led the Capital Markets & Investments Services department at ERA.

Samuel Choo, who brings over 20 years of industry experience, will concentrate on servicing existing clients and expanding the client base. Both Tan and Choo will work closely with local, regional, and global stakeholders to drive growth in inbound and outbound opportunities.

Bastiaan van Beijsterveldt, Managing Director of Colliers Singapore, expressed enthusiasm about the appointments, stating, “We are thrilled to have Steven Tan and Samuel Choo re-join Colliers. Their extensive experience in real estate and investment services, coupled with their proven success in handling transactions for investors and property owners, will significantly boost our multi-service revenue growth.”

Colliers, a global leader in diversified professional services and investment management, operates in 70 countries and manages $99 billion in assets. The appointments are expected to enhance Colliers’ relationships with institutional-grade capital, investors, and developers, further solidifying its position in the market.
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Singaporeans are increasingly opting for international travel during Hari Raya Puasa, with bookings rising by over 60% compared to the previous year, according to Trip.com. This year, the festive season, which ran from 29 March to 6 April, saw a notable shift towards secondary cities and long-haul destinations, alongside a preference for theme park attractions.

Whilst traditional favourites like Bangkok and Kuala Lumpur remained popular, cities such as Guangzhou and Osaka have climbed into the top 10 destinations for the first time. Additionally, demand for cities like Chongqing, Chengdu, and Busan more than doubled, reflecting a growing interest in exploring less-travelled paths. Edmund Ong, General Manager of Trip.com Singapore, noted, “As Singaporeans increasingly prioritise travel with their families during this special season, they are also approaching travel with greater intent, blending meaningful reunions with a desire to explore newer destinations.”

Beyond Asia Pacific, there was a significant increase in bookings to countries like Spain, Switzerland, and Peru, with Lima being the furthest destination booked. This trend indicates a shift towards destinations rich in culture and novelty.

The average trip length for Singaporeans increased to 9.19 days, up from 8.38 days last year, with a 5.9% rise in spending on flights and hotels. Theme parks were a major draw, with four out of the five most-booked attractions being large-scale parks in Asia. Universal Studios Japan and Hong Kong Disneyland were among the top choices, highlighting the enduring appeal of family-friendly entertainment.
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Mediacorp has announced the appointment of Sabrina Tan as its new Head of Sales, effective 1 April 2025. Tan, who previously served as Head of Industry Solutions, will now focus on enhancing Mediacorp’s commercial growth through multi-modal Intellectual Properties (IPs), omni-channel solutions, and outcome-based partnership models. Reporting to Chief Commercial Officer Jacqui Lim, Tan will lead efforts to deliver greater value and business accountability to clients across sectors such as Government, Banking, Retail, and Consumer Electronics.

Tan has been with Mediacorp since 2018, where she played a pivotal role in driving revenue growth by optimising sales strategies and fostering strong client relationships. Her leadership in the Out-Of-Home (OOH) team contributed significantly to the growth of digital and OOH revenue. She also spearheaded strategic partnerships with key ecommerce players and banks, and developed new Mediacorp IPs like the Singapore Property Show.

In her new role, Tan aims to streamline operations for greater agility and speed to market, whilst improving internal collaboration. “I am thrilled to embark on this next chapter at Mediacorp,” Tan stated. “As the media landscape continues to evolve, it is crucial that we remain agile and innovative.”

Additionally, Toh Dasheng and Cindy Ng have taken on new roles within the Commercial Group. Toh will become Head of Omni-Channel Solutions & Trade Marketing, whilst Ng will focus on Business Development & Emerging Business. Both will continue to report to Lim.

This restructuring is expected to enhance Mediacorp’s ability to meet the evolving demands of its clients and audiences.
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