Industry News

Australian-Singaporean company Osteopore Limited has launched a Clinical Centre of Excellence (CCoE) in Singapore, focusing on medial wedge opening high tibial osteotomy (MOWHTO). This initiative, in collaboration with Total Orthopaedic Care & Surgery and led by Dr Hamid Razak, aims to enhance orthopaedic care and improve patient outcomes in knee preservation.

The CCoE will serve as a training hub, offering educational sessions on MOWHTO techniques and post-surgery rehabilitation. Dr Hamid, a consultant orthopaedic surgeon with over 15 years of experience, will lead these efforts. He is also an Adjunct Associate Professor at Duke-NUS Medical School and a key opinion leader on Osteopore’s clinical advisory board.

MOWHTO is gaining traction globally as it offers joint preservation and minimal trauma, delaying the need for total knee arthroplasty. Recent studies highlight advancements in surgical strategies that improve patient outcomes. Osteopore’s MOWHTO product has outperformed allogeneic femoral head grafts in bone union in clinical studies.

The MOWHTO market is projected to grow at a compound annual growth rate of 9.2%, with procedures expected to reach 35,000 annually in the Asia Pacific region by 2025. Osteopore CEO Dr Lim Yujing emphasised the importance of training and education in using innovative products with appropriate surgical techniques. Dr Hamid expressed his commitment to advancing knee preservation through collaborative research and innovation.

This new centre underscores Osteopore’s dedication to advancing orthopaedic care and highlights the growing trend in knee preservation techniques.
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Frasers Centrepoint Trust (FCT) has announced the acquisition of Northpoint City South Wing in Singapore for $1.17b (S$1.17b). The deal, finalised on 25 March 2025, involves FCT acquiring 100% interest in the retail mall through the purchase of all units in North Gem Trust, the private trust holding the property. This strategic move consolidates FCT’s position as a leading owner of prime suburban retail spaces in Singapore.

The acquisition is expected to be Distribution per Unit (DPU) accretive, enhancing FCT’s ability to deliver stable returns to its unitholders. Richard Ng, CEO of the Manager, stated, “With the Acquisition, FCT will have 100% ownership of both North Wing and South Wing that together form Northpoint City. With full control, FCT will be able to implement holistic asset enhancement initiatives and tenant mix strategies to unlock further value across both wings.”

The agreed property value stands at $1,133.0m (S$1,133.0m), with a net property income yield of 4.5%. The acquisition cost includes $375.2m (S$375.2m) for the purchase price, $785.0m (S$785.0m) in bank loans, and additional fees. FCT plans to fund this through a mix of equity fund raising, debt financing, and potential issuance of subordinated perpetual securities.

Northpoint City, the largest mall in North Singapore, benefits from its strategic location and robust operational performance. It boasts a 100% occupancy rate and a diverse tenant mix, including major brands like FairPrice and Uniqlo. The mall’s strong performance is underpinned by its high footfall and shopper traffic, driven by its connectivity to the Yishun Integrated Transport Hub.

The acquisition positions FCT to capitalise on the revitalisation of Singapore’s North Region, with significant new home developments and transformation into a work-live-play hub. This move is set to enhance FCT’s portfolio and strengthen its market presence in the suburban retail sector.
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JLL has announced the inaugural Global Property Expo, set to take place at the Sands Expo & Convention Centre in Singapore from 18 to 20 July 2025. This premier event aims to bring together international property developers and real estate investors, offering a platform to explore premium residential investment opportunities across major global markets.

The expo will feature a curated selection of residential developments from regions such as Australia, Japan, the Middle East, the United States, and Europe. In addition to the exhibition, the event will include two conference tracks focusing on sustainable property investment, PropTech integration, and smart city infrastructure. These sessions are designed to provide attendees with expert insights into emerging global trends and advanced wealth creation strategies.

James Puddle, JLL Head of International Residential, South East Asia, highlighted the significance of the event, stating, “International property investors are growing in sophistication, demanding more diverse options and risk profiles when approaching global residential markets. The Global Property Expo offers a direct connection between international developers and active investors, particularly within the rapidly growing Asia Pacific market.”

The choice of Singapore as the host city underscores its role as a leading hub for cross-border real estate transactions. In 2023, Singaporean investors accounted for $25.3b in international real estate investments, significantly outpacing per-capita spending in the US. This trend is expected to continue, with a 23% increase in Asia Pacific real estate investment in 2024.

The expo is targeted at institutional and private investors, real estate developers, and industry professionals seeking to diversify portfolios and stay ahead of market trends.
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RHB Bank has adjusted its inflation projections for Singapore in 2025, anticipating a decrease in both headline and core inflation rates. The bank now expects the full-year headline inflation to be 1.6%, down from its previous estimate of 2.3%, and core inflation to be 1.1%, revised from 1.8%. This adjustment comes amidst a resilient economic outlook and moderate inflationary pressures, suggesting that the Monetary Authority of Singapore (MAS) is likely to maintain its current policy settings in the upcoming Monetary Policy Committee meeting in April.

In February, Singapore’s Consumer Price Index (CPI) eased to 0.9% year-on-year, a slight decrease from 1.2% in January. This figure was marginally below RHB’s and Bloomberg’s forecasts of 1.0% year-on-year. Core inflation also saw a reduction, dropping to 0.6% year-on-year from 0.8% in January.

Barnabas Gan, Acting Group Chief Economist and Head of Market Research at RHB Bank, highlighted these findings in the bank’s latest Global Economics and Market Strategy Report. The report underscores the expectation that Singapore’s inflationary environment will remain stable, allowing MAS to keep its current monetary policy stance.

The revised outlook reflects a cautious optimism about Singapore’s economic resilience, with inflationary pressures appearing to be under control. This stability could provide a conducive environment for continued economic growth in the region.
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Manulife Singapore has launched its Signature Indexed Income plan, a pioneering product combining Indexed Universal Life (IUL) insurance with customisable income payout features. This innovative plan is designed to cater to the financial needs of affluent and high-net-worth individuals (HNWIs) by offering market-linked returns, downside protection, and seamless wealth transfer.

The plan provides protection against market fluctuations with a 0% floor rate and Surrender Value Floor feature, ensuring stability even during downturns. It links payouts to the S&P 500 Index, potentially offering higher returns compared to traditional income plans. The Automatic Premium Spread (APS) option allows premiums to be spread over 12 months, providing more stable returns.

Thomas Lee, Chief Product Officer of Manulife Singapore, stated, “With Signature Indexed Income, we are pioneering a solution for Affluents and HNWIs seeking alternative income streams and portfolio diversification.” The plan’s flexibility allows policyholders to adjust premium allocations and choose when to start receiving income payouts, tailoring it to their specific financial goals.

A study commissioned by Manulife Singapore revealed that 73% of HNWIs are interested in an indexed universal life plan with monthly income payouts and flexible features. The plan also facilitates legacy planning, enabling policyholders to transfer ownership, change the insured life, and nominate beneficiaries.

Rena Lim, Head of High Net Worth and Financial Advisory at Manulife Singapore, highlighted the plan’s appeal for those seeking a balanced approach to wealth management, combining growth potential, income generation, and protection. With its innovative structure, Signature Indexed Income is set to redefine income planning for affluent clients in Singapore.
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The Korea Agro-Fisheries and Food Trade Corporation (aT) recently hosted an exclusive culinary masterclass in Singapore, showcasing the excellence of Korean produce. Held at The Butchers Dining, the event featured a live cooking demonstration and tasting session, attended by South Korea’s Minister of Agriculture, Food and Rural Affairs, Song MiRyung, and the Ambassador of the Republic of Korea to Singapore, Hong JinWook. The event celebrated premium Korean rice and fruits, aiming to introduce Singaporean consumers to the unique textures and flavours of these products.

Korean cuisine is renowned for its bold flavours and health benefits, largely due to its use of fresh, nutrient-rich ingredients and traditional fermentation techniques. Signature dishes such as bibimbap and tteokbokki were highlighted, with Korean rice praised for its chewy texture and nutritional value. The event also showcased premium Korean fruits like Shine Muscat grapes and strawberries, known for their sweetness and antioxidant content.

A standout feature was the introduction of 12 traditional Korean liquors, specially airlifted for the event, showcasing the diversity of Korean brews. Culinary instructor Kim Hyuna led the cooking demonstration, preparing dishes like bibimbap and nurungji ice cream, paired with traditional Korean wines.

Minister Song MiRyung expressed hope that Singaporeans would appreciate these exceptional ingredients, reinforcing aT’s commitment to promoting Korean produce in Singapore. The event coincided with the 50th anniversary of diplomatic relations between South Korea and Singapore, marking a significant milestone in cultural exchange.
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The Singapore Department of Statistics has reported a 0.8% increase in the Consumer Price Index (CPI) for February 2025 compared to the previous month.

This marks a 0.9% rise from the same period last year, reflecting ongoing inflationary pressures in the economy.

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ST Engineering, Singtel, and local banks have propelled the Straits Times Index (STI) to a 2.3% increase, closing at 3,926.45 last week. This rise occurred despite uncertain trading conditions on Wall Street. ST Engineering’s shares soared by 6.6% to S$6.62, significantly contributing to the STI’s performance.

The US Federal Reserve’s decision to maintain interest rates, with expectations that tariff-induced inflation will be temporary, provided some stability. Meanwhile, US major indices ended a four-week losing streak with modest gains.

Analysts have responded positively to ST Engineering’s performance, upgrading their target prices to above S$7. This optimism reflects confidence in the company’s future growth prospects.

However, challenges remain on the horizon. ESR-REIT’s sponsor, ESR Group, has warned of a potential $730 million (US$730 million) loss due to asset and project revaluations. Additionally, whilst Singapore’s non-oil domestic exports (NODX) rose by 7.6% in February, the ongoing impact of tariffs imposed by former US President Donald Trump poses potential hurdles.

As the market continues to navigate these dynamics, investors are advised to stay informed through weekly updates and technical analysis provided by the Securities Investors Association (Singapore). These insights aim to equip investors with the knowledge needed to make informed decisions in the evolving market landscape.
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American Express and Singapore Airlines have unveiled enhanced benefits for their joint Business Credit Card, aimed at providing small and medium enterprises (SMEs) with improved travel rewards and redemption options. Starting 23 April 2025, cardholders will enjoy a higher conversion limit of 150,000 HighFlyer points to KrisFlyer miles, up from the previous cap of 100,000 miles. Additionally, SMEs can now redeem 100,000 HighFlyer points for KrisFlyer Elite Gold status, a reduction from the standard 125,000 points requirement.

The updated card also offers a welcome bonus of 10,000 HighFlyer points for new businesses completing their first flight booking through the Singapore Airlines HighFlyer portal. Furthermore, cardholders can accelerate their KrisFlyer Elite Gold status upgrade for one corporate traveller with a minimum spend of $11,000 (S$15,000) on eligible Singapore Airlines and Scoot flights within the first year.

Other benefits include a bonus of 6,000 HighFlyer points upon annual membership renewal and an earn rate of up to 8 HighFlyer points per $0.73 (S$1) spent on Singapore Airlines or Scoot flights. Cardholders will also continue to enjoy existing perks such as 0% interest on instalments over six months for Singapore Airlines flights, Accor Plus membership, and Hertz Gold status.

Marlin Brown, Singapore Country Manager for American Express, expressed excitement about the refreshed card, stating it offers “greater rewards, travel benefits, and financial flexibility” to support business growth. Ng Yung Han, Vice President of Global and Corporate Sales at Singapore Airlines, highlighted the collaboration’s success in delivering enhanced benefits to customers.

The card’s annual fee will be $292 (S$400), inclusive of GST, effective from 23 April 2025.
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