Industry News

The Urban Redevelopment Authority (URA) tender for the Lentor Gardens (2) residential site concluded with only two bids, reflecting developers’ cautious approach amidst ample supply in the area. Kingsford Group emerged as the top bidder, offering S$429.23 million, equating to S$920 per square foot per plot ratio (psf ppr). This bid was marginally higher than the second bid from a consortium of Hong Leong Holdings, Mitsui Fudosan Co., and China Construction (South Pacific) Development Co.

The Lentor Gardens (2) site, which can accommodate 500 units, is the last of seven plots in the Lentor estate, contributing to a total of 3,454 units. The subdued interest is attributed to the site’s distance from the upcoming Lentor MRT station and the absence of nearby popular schools like CHIJ St. Nicholas Girls’ School. Additionally, the presence of unsold inventory from previous Lentor projects likely deterred more aggressive bidding.

Tricia Song, Head of Research at CBRE Singapore and Southeast Asia, noted that the S$920 psf ppr bid is the lowest land rate among the Lentor sites, significantly below the S$1,204 psf ppr record set by Lentor Central in 2021. Despite this, the Lentor area has seen robust sales, with 94% of units from existing projects sold.

The future launch price for Lentor Gardens (2) is expected to be around S$2,100 to S$2,200 psf, slightly below the current average at Lentor Central Residences. This reflects the ongoing demand in the area despite the challenges posed by location and competition.
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DBS Chief Investment Office has released a detailed asset allocation strategy in response to the recent tariff measures announced by the Trump administration. The tariffs, which include a 10% universal levy on imports and targeted reciprocal tariffs up to 50%, are expected to significantly impact global economic growth and corporate earnings if tensions escalate further.

The report suggests that Trump’s tariffs may be ideologically driven, aiming to reset trade relationships and the global order. In light of these developments, DBS recommends several investment strategies across different asset classes.

For equities, DBS suggests favouring markets with potential for fiscal stimulus, such as China and Europe. China, with a central government leverage ratio of 25% of GDP, has room for government-led stimulus. In Europe, Germany’s recent approval of a EUR500bn infrastructure fund could drive growth. Additionally, companies capable of shifting production back to the US, particularly in high-entry-barrier sectors like semiconductors and aerospace, are recommended.

In the bond market, DBS advises sticking with high-quality credit in the A/BBB range and maintaining a duration barbell of 2-3 and 7-10 years. Long-duration Treasury Inflation-Protected Securities (TIPS) are also favoured due to their potential in a low-growth, high-inflation environment.

Gold remains a strong recommendation, with DBS reiterating an overweight position due to its safe-haven appeal amid volatility. The report highlights potential catalysts for gold, including growth risks, monetary easing, and increased physical demand.

For alternatives, DBS suggests global macro and relative value hedge funds, which can navigate elevated volatility and geopolitical risks effectively.

DBS’s strategies aim to help investors navigate the uncertainties posed by the current trade tensions, with a focus on resilience and adaptability in asset allocation.
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The Lentor Gardens site has drawn two bids, with the highest offer coming from Kingsford Huray Development Pte Ltd at $920 per square foot per plot ratio. This level of interest mirrors previous Government Land Sales (GLS) tenders in the Lentor area but contrasts sharply with the earlier Bayshore Road GLS tender, which saw more developer engagement.

According to Mark Yip, CEO of Huttons Asia, this difference is likely due to developers reserving resources for upcoming tenders at more desirable locations such as Chencharu Close, Hougang Central, and Telok Blangah Road.

Despite being the seventh parcel for sale in the Lentor precinct, the demand for private homes remains robust. As of 3 April 2025, only 135 out of 2,954 units were unsold, indicating a rapid pace of sales in recent Outside Central Region (OCR) project launches, particularly in Lentor. Yip highlighted that the site presents a relatively low risk for developers, given the high demand for attractively priced private homes.

The continued interest in the Lentor precinct underscores the area’s appeal to both developers and homebuyers. As developers eye future tenders in more sought-after locations, the Lentor Gardens site remains a viable investment with its strong sales performance and limited unsold inventory.
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Mylo Speech Buddy has unveiled two significant initiatives on World Autism Awareness Day: the ‘Ausome World’ digital series and the ‘Speak Clinic’ teleconsultation platform. These projects are designed to amplify the voices of individuals with Autism Spectrum Disorder (ASD) and improve access to quality speech therapy services.

The ‘Ausome World’ series shares real-life stories from parents and children navigating autism, aiming to foster awareness and understanding. The series plans to expand globally, capturing diverse narratives from countries including the United Arab Emirates, Japan, the United Kingdom, Canada, and the United States. “With ‘Ausome World,’ we are bringing real stories to a global stage, ensuring that individuals with autism and their families feel seen, heard, and supported,” said Vincent Rocha, Founder and CEO of Mylo Speech Buddy.

In addition to the digital series, the Speak Clinic platform offers innovative teleconsultation services, streamlining therapy access for children with developmental challenges. It features smart appointment scheduling, high-quality telemedicine capabilities, real-time chat, comprehensive patient management tools, and an integrated payment gateway. Healthcare professionals can register through the official website, SpeakClinic.com.

The launch event, attended by experts and advocates, highlighted the importance of inclusive education and support systems. Mylo Speech Buddy, founded in 2023, continues to bridge gaps in autism awareness and support, fostering a more inclusive society through innovation and storytelling. With over 75,000 global users, the platform remains committed to expanding its advocacy for autism inclusion.
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The Monetary Authority of Singapore (MAS) announced on 3 April that Singapore’s foreign exchange and money markets are operating normally, amidst ongoing global economic uncertainties. The central bank emphasised its readiness to intervene if necessary to kerb excessive volatility in the Singapore dollar and maintain orderly market conditions.

MAS is actively monitoring the situation and evaluating potential impacts on the Singaporean economy. This proactive stance aims to reassure investors and stakeholders of the stability and resilience of Singapore’s financial markets.

In a statement, MAS highlighted its commitment to ensuring that the markets continue to function smoothly. “MAS stands ready to kerb excessive volatility in the Singapore dollar, and to ensure that Singapore’s foreign exchange and money markets continue to function in an orderly manner,” the statement read.

The announcement comes as part of MAS’s ongoing efforts to maintain confidence in Singapore’s financial system, which is crucial for the country’s economic health. The central bank’s vigilance and preparedness to act are seen as key measures to safeguard against potential disruptions in the financial sector.

As global economic conditions evolve, MAS’s monitoring and readiness to intervene will be critical in maintaining market stability. This assurance from MAS is expected to bolster confidence among market participants and support the continued functioning of Singapore’s financial markets.
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The Wild Ventures, an AI-powered house of impact brands based in Singapore, has officially launched with an oversubscribed funding round. The company, which aims to innovate both B2B and B2C sectors, has secured $1m in angel funding from a roster of high-profile investors, including Alex Bouaziz, CEO of Deel.com, and JJ Chai, CEO of Rainforest. The funding will support the company’s mission to build a next-generation house of brands.

Founded by a team of seasoned brand builders, The Wild Ventures is set to leverage the expertise of its founders and investors to create synergies and network effects in a sustainable manner. The company already boasts a portfolio of four brands, including Wild Palace, Poositive Pets, and Future Paper, each focusing on sustainability and innovation.

Bjorn Bergstrom, co-founder of The Wild Ventures, expressed enthusiasm about the launch, stating, “This is such an exciting moment—not just because of the incredible investors backing us, but because we’re bringing a fresh vision to life.” Arvid Lithander, another co-founder, added, “Our goal is simple: to make people feel something, whether it’s through fun, creative content or products that genuinely bring joy.”

The Wild Ventures aims to disrupt traditional industries by combining the team’s branding expertise with AI technology. With its innovative approach, the company is poised to make a significant impact in the global market, particularly in sectors that require fresh creativity and innovation.
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The Li Ka Shing Foundation and Temasek Trust have pledged $8.8m (S$12m) to introduce innovative histotripsy cancer therapy trials in Singapore. This funding will equip the National Cancer Centre Singapore (NCCS) and the National University Cancer Institute, Singapore (NCIS) with the first Histotripsy Systems in Southeast Asia, targeting liver, kidney, and pancreatic cancers.

Histotripsy, developed by US-based HistoSonics, is a non-invasive ultrasound treatment that breaks down tumours at the cellular level without the need for surgery or radiation. This method offers a painless and scarless alternative to traditional cancer treatments. The clinical trial, set to begin later this year, aims to enrol 40 patients who meet specific criteria.

Professor Brian Goh Kim Poh, leading the trial at NCCS, highlighted the potential of histotripsy for patients unsuitable for invasive treatments due to factors like tumour location or underlying conditions. “Innovations such as histotripsy offer an alternative option with potential advantages as it is non-invasive,” he stated.

The initiative addresses the rising incidence of liver, kidney, and pancreatic cancers in Southeast Asia, driven by factors such as ageing populations and environmental exposure. In Singapore, liver cancer ranks as the third leading cause of cancer death among men.

The funding will be managed through a Donor-Advised Fund by TT Foundation Advisors, aiming to attract further philanthropic support for future cancer research. This strategic philanthropy seeks to ensure sustainable impact in advancing cancer treatment options in the region.
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The Hong Kong and China Gas Company Limited (Towngas) has announced a new supply agreement with Singapore-based bunker supplier Golden Island Pte Ltd to provide ISCC-certified green methanol for bunkering operations in Singapore. This marks a significant expansion of Towngas’s green methanol network across Asia. The green methanol will be transported by Golden Island’s new Singapore-flagged bunker tanker, Golden Antares, which is set to depart a Chinese shipyard by late April and commence bunkering trials in July 2025.

Golden Antares, equipped with mass flowmetres and a 6,500-tonne methanol capacity, will adhere to Singapore’s Technical Reference 129 on Methanol Bunkering, ensuring safe and efficient use of methanol as a marine fuel. Sham Man-fai, Chief Operating Officer – Green Fuels & Chemicals of Towngas, expressed enthusiasm about the growing interest in their green methanol, stating, “Supplying green methanol to customers like Golden Island aligns perfectly with our commitment to developing low-carbon solutions that support the shipping industry’s decarbonisation journey.”

Tomohiro Yamano, General Manager of the Marine Fuel Department at Golden Island, highlighted the environmental benefits, noting that the green methanol offers carbon intensity savings of more than 75% compared to conventional fuels. Towngas’s production plant in Ordos, Inner Mongolia, currently produces 100,000 tonnes of green methanol annually, with plans to increase to 150,000 tonnes by the end of 2025.

Towngas is also collaborating with Foran Energy Group to establish multiple green methanol production bases across China, aiming for a combined annual capacity of 1 million tonnes by 2028. This strategic expansion supports the maritime sector’s transition towards carbon neutrality.
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Foundation Healthcare Holdings, Singapore’s leading private healthcare specialist group, has announced a strategic partnership with Great Eastern to enhance healthcare access and value for policyholders. This collaboration aims to explore advanced digital solutions to automate transactions, eliminate inefficiencies, and optimise workflows, ultimately improving customer experience and reducing administrative burdens.

The Memorandum of Understanding (MoU) was signed earlier this week, marking a significant step in transforming healthcare delivery. Liaw Yit Ming, CEO of Foundation Healthcare, stated, “Foundation Healthcare is committed to driving innovation in healthcare delivery, and this partnership with Great Eastern marks a significant step towards transforming the way patients experience care.”

The collaboration will leverage Foundation Healthcare’s extensive network of private specialists across Singapore to support Great Eastern’s digitisation and automation efforts. This initiative aims to ensure policyholders receive timely, efficient, and high-quality care whilst managing healthcare costs with transparent and consistent pricing.

Patrick Kok, Managing Director for Group Operations at Great Eastern, highlighted the partnership’s impact, saying, “This strategic partnership between Great Eastern and Foundation Healthcare marks a significant step forward in our commitment to delivering exceptional value to our Great Eastern policyholders.”

Both organisations are committed to setting new benchmarks in healthcare experiences, empowering individuals to make informed decisions about their health and well-being. Through continued innovation and partnership, they aim to redefine the healthcare experience, strengthening Great Eastern’s market position with innovative service offerings.
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OCBC, one of Singapore’s largest banks, has announced a landmark £10b investment into the United Kingdom’s key growth sectors, including energy, infrastructure, and real estate, by 2030. This strategic partnership, formalised through a Memorandum of Understanding (MoU) with the UK’s Office for Investment, marks the largest inward investment from an Asian bank into the UK.

The collaboration is set to enhance UK-Singapore relations during the 60th anniversary of their diplomatic ties. UK Minister for Investment, Baroness Poppy Gustafsson, highlighted the significance of the investment, stating, “This £10 billion commitment from OCBC is a major vote of confidence in the UK economy. Not only will it help create more opportunities in real estate and infrastructure, but will also back our clean energy industry.”

OCBC’s Head of Global Corporate Banking, Elaine Lam, expressed pride in strengthening the UK-Singapore relationship, noting the bank’s significant growth in the UK, particularly in sectors aligned with the UK’s industrial strategy. “Our UK business has grown significantly over the years and our London branch is now the largest in our international network,” Lam said.

The investment is expected to create more opportunities for Asia Pacific businesses looking to invest in the UK. Martin Kent, His Majesty’s Trade Commissioner for Asia Pacific, remarked on the UK’s attractiveness as a world-class investment destination, with foreign direct investment stock exceeding £2 trillion in 2023.

As part of the agreement, OCBC will also support UK businesses seeking to expand into Singapore and Southeast Asia, further solidifying the economic partnership between the two nations.
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