Industry News

Chocolate Finance, a brand of Chocfin Pte Ltd, has announced significant progress in processing redemption requests following an unusually high volume of withdrawals. As of 17 March, 90% of the redemption requests received on 10 March have been successfully processed and paid out. The remaining requests from that day are expected to be completed by the end of 18 March.

The company also reported that 73% of the requests received on 11 March have been processed and paid out. The remaining requests from 11 March are scheduled for completion over the next two days. Requests received on or after 12 March are being handled in an orderly manner, adhering to the standard processing time of three to six business days.

Chocolate Finance has urged customers to stay informed through their Instagram channel, where CEO Walter De Oude and the team provide updates. Customers with concerns are encouraged to consult the FAQs and Terms & Conditions available on the company’s website.

The company, a licenced Capital Markets Services provider, partners with globally recognised institutions to ensure a secure investment experience. Chocolate Finance expressed gratitude for its customers’ patience during this period and remains committed to delivering a secure and rewarding financial experience.
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The Singapore Maritime Gallery at Marina South Pier has reopened with a new maritime heritage zone, “Tides of Time”, as part of the SG60 celebrations. Officially launched by Murali Pillai, Minister of State for the Ministry of Law and Ministry of Transport, the gallery now features exhibits that trace Singapore’s maritime history back to the 3rd century, highlighting its pivotal role in regional trade and the development of international maritime law.

The refreshed gallery, supported by the National Heritage Board, showcases maritime archaeological artefacts and explores significant events such as the 1603 Santa Catarina incident. Additionally, the “Future is Now” zone offers interactive displays, including a dynamic world map of global shipping movements and a scale model of Tuas Port, illustrating the transformation of Maritime Singapore through digital innovations.

Designed with families in mind, the gallery includes “PlayPort”, a children’s area developed in collaboration with the National Library Board. This space features maritime-themed e-comics, videos, and activities like storytelling sessions and craft workshops.

The gallery’s reopening coincides with Singapore Maritime Week 2025, a key SG60 event running from 24 to 28 March. The week will feature industry conferences, a trade exhibition, and the inaugural Talent@SMW, aimed at connecting students and mid-career professionals with maritime industry opportunities.

Public engagement activities, including vessel showcases and maritime heritage tours, will take place over two weekends. The Singapore Maritime Gallery is open daily from 9am to 6pm, except Mondays, with free entry. For more details, visit the Singapore Maritime Gallery website.
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Airwallex, a leading global fintech, has announced a collaboration with Discover Global Network, allowing its merchants to accept Discover and Diners Club International cards across Singapore, Hong Kong, Australia, Europe, and the UK.

This partnership aims to enhance payment flexibility for businesses and their customers, potentially reducing cart abandonment and improving customer satisfaction by enabling payments with preferred cards.

The integration with Discover Global Network opens access to 345 million cardholders across more than 200 countries and territories. Kai Wu, Chief Revenue Officer at Airwallex, stated, “Our collaboration with Discover Global Network reflects our dedication to broadening payment acceptance for businesses worldwide.” This move is expected to help merchants scale internationally and drive growth by offering more payment choices.

Airwallex now supports over 160 payment methods, providing businesses with a comprehensive suite of tools to facilitate transactions. Chris Winter, Vice President International Markets at Discover Global Network, commented, “Our collaboration with Airwallex ensures that merchants have the payment solutions needed to engage with a global audience, enhancing their business potential and customer satisfaction.”

This partnership marks a significant step in Airwallex’s mission to simplify global payments and financial operations. With a robust infrastructure supporting over 150,000 businesses, Airwallex continues to innovate in cross-border commerce, empowering businesses to unlock new opportunities and expand their reach.

The GAIP Insurance Innovation Competition 2025 has expanded its reach globally, inviting students from top universities across Asia and Europe to showcase their innovative ideas in insurance. Organised by Nanyang Technological University’s Nanyang Business School and the Global Asia Insurance Partnership (GAIP), the competition aims to enhance risk resilience through student-led research and solutions.

This year, prestigious institutions such as Fudan University, the University of Hong Kong, Keio University, Seoul National University, and the University of St. Gallen are participating. Each university will host local competitions, with the best teams advancing to the global final in Singapore on 15 August 2025. The competition boasts a prize pool of US$26,000.

The event not only offers monetary rewards but also provides winning teams from Singapore universities the chance to present their business cases at a major regional industry conference later in 2025. This initiative is designed to equip young talents with the skills needed to drive transformative change in the insurance industry.

The competition timeline includes a registration period from February to April 2025, with local winners announced between May and July. The GAIP Insurance Innovation Competition continues to serve as a launchpad for future industry leaders, fostering innovation and addressing emerging challenges in the insurance sector.
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Developers in Singapore experienced a surge in new home sales in February 2025, achieving a nine-year high with 1,575 units sold, excluding executive condominiums. This represents a 45% increase from January’s 1,083 units and a dramatic rise from the 153 units sold in February 2024. The impressive figures were largely driven by the success of two new launches, Parktown Residence in Tampines and ELTA in Clementi, which together accounted for 87% of the month’s sales.

The Outside Central Region (OCR) dominated February’s transactions, contributing 92% of the total sales with 1,452 units sold. Parktown Residence emerged as the top-selling project, moving 1,041 units at a median price of $2,363 per square foot (psf). ELTA followed, selling 326 units at a median price of $2,538 psf. Wong Siew Ying, Head of Research and Content at PropNex Realty, noted, “Brisk sales at Parktown Residence and ELTA have supercharged new home sales in February, extending the trend of healthy take-up rates at many new launches since November 2024.”

In contrast, the Rest of Central Region (RCR) saw a significant drop, with only 98 units sold compared to 771 in January. The Core Central Region (CCR) also experienced a decline, with 25 units sold, down from 121 in January. The additional buyer’s stamp duty is partly attributed to the muted sales in the CCR.

Looking ahead, sales in March are expected to be lower due to fewer new launches. However, the strong performance in February indicates a resilient demand for mass market homes, with developers likely to continue focusing on pricing strategies that appeal to owner-occupiers.
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Singapore-headquartered ComfortDelGro, a prominent multi-modal transport operator, has initiated a two-year pilot programme to deploy commercial robotaxi services in Guangzhou, China. This collaboration with Pony.ai, a leader in autonomous driving technology, aims to refine autonomous vehicle (AV) technology operations and fleet management, with aspirations for large-scale deployment in China and other international markets.

The pilot programme is a significant step for both companies in the commercial deployment of robotaxi services. Cheng Siak Kian, Managing Director and Group CEO of ComfortDelGro, emphasised the importance of autonomous vehicle technology in addressing global driver shortages and enhancing mobility. “Autonomous technology can complement the human driver workforce by increasing ride availability during off-peak hours and in underserved areas,” he stated.

Pony.ai’s CFO, Leo Wang, highlighted the company’s expertise in autonomous driving technology and the importance of strong partnerships for global expansion. “I am impressed by ComfortDelGro’s years of expertise in large-scale fleet management and believe both teams will learn fast and well from each other through this fruitful collaboration,” Wang remarked.

This initiative is part of ComfortDelGro’s broader strategy to explore autonomous transport solutions. In 2022, the company established a S$30m Autonomous Vehicle Centre of Excellence to develop capabilities in AV operations and fleet management. The pilot programme not only represents a technological advancement but also aligns with ComfortDelGro’s commitment to sustainable transport solutions.
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Singapore’s non-oil domestic exports (NODX) are projected to grow by 2% year-on-year, according to RHB Bank’s latest Global Economics and Market Strategy Report. The report, attributed to Barnabas Gan, Acting Group Chief Economist and Head of Market Research at RHB Bank, highlights the benefits of a resilient global economy and easing monetary conditions on Singapore’s export sector.

In February 2025, Singapore’s NODX expanded by 7.6% year-on-year, recovering from a 2.1% decline in January. This growth, however, fell short of the market consensus of a 9.7% increase. Month-on-month, seasonally adjusted figures showed a 2.6% rise.

Despite the positive outlook, RHB remains cautious due to potential challenges posed by US trade protectionist policies and the risk of escalating global tariff conflicts. These factors could potentially impact Singapore’s export performance in the coming months.

Gan noted the importance of monitoring these developments closely, stating, “We maintain our forecast for NODX to grow by 2.0% YoY with exports set to benefit from a resilient global economy and easing monetary conditions.”

The report underscores the need for vigilance amidst global trade uncertainties, even as Singapore’s export sector demonstrates resilience. Looking ahead, the potential impact of international trade policies will be a key factor to watch in determining the trajectory of Singapore’s NODX growth.
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Singapore’s property market witnessed a significant surge in February 2025, with a record 603 new suburban homes sold for at least S$2m, according to the Urban Redevelopment Authority (URA). This marks the highest number of such transactions in a single month since 1995. The increase follows a strategic release of new projects post-Chinese New Year, with developers capitalising on renewed buyer interest.

New home sales, excluding executive condominiums (ECs), rose to 1,575 units in February, a 45.4% increase from January’s 1,083 units. Including ECs, the sales reached 1,604 units, reflecting a 45.3% rise. This surge is attributed to the launch of major projects like Parktown Residence and ELTA, which collectively accounted for a significant portion of the sales.

Parktown Residence emerged as the top performer, selling 1,041 units at a median price of $2,363 per square foot. Its appeal lies in the amenities of the Tampines North area, including new transport links and retail options. ELTA, located in Clementi, sold 326 units, attracting young families and investors due to its proximity to employment hubs and limited housing supply in the area.

The demand for luxury homes remained subdued, with only three non-landed homes sold for over S$10m. However, the overall market outlook remains positive, with new projects like Aurelle of Tampines Executive Condominium and One Marina Gardens expected to sustain the momentum. Analysts predict a moderate price increase of 2% to 4% for private residential properties this year, with 7,000 to 9,000 new homes anticipated to be sold.
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This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.

Developers in Singapore experienced a significant boost in property sales in February 2025, with a 45.4% increase compared to January, reaching 1,575 units sold. This surge was largely attributed to the successful launches of two major projects, ELTA and PARKTOWN Residence, which together accounted for 86.8% of the month’s total sales.

ELTA, located along Clementi Ave 1, sold 326 units, capitalising on its status as the last available parcel for condominium development in the area. Buyers were eager to invest, anticipating potential capital appreciation due to the limited supply. Meanwhile, PARKTOWN Residence in Tampines achieved a remarkable 1,041 units sold, marking it as the first mega project since 2015 to sell over 1,000 units during its launch weekend. This reflects the growing popularity of fully integrated developments and confidence in the Tampines 5-year masterplan.

In terms of market segments, the Outside Central Region (OCR) dominated with 92.2% of total sales, whilst the Rest of Central Region (RCR) and Core Central Region (CCR) accounted for 6.2% and 1.6%, respectively. Singaporeans made up 92.4% of the buyers, with permanent residents and foreigners comprising the remainder.

Looking ahead, March 2025 is expected to continue the momentum with three new launches: Aurea, Aurelle of Tampines (EC), and Lentor Central Residences. These projects have already seen strong sales, with Lentor Central Residences selling 93.3% of its units. Huttons Data Analytics anticipates that developer sales in Q1 2025 will exceed 3,200 units, the highest since 2021, driven by rising wealth and lower interest rates. The property market is projected to grow between 4% and 7% in 2025.
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Private new home sales in Singapore soared by 45.4% in February 2025, reaching 1,575 units compared to 1,083 units in January, according to CBRE Research. This marks a significant increase from February 2024’s 153 units and represents a 13-year high for the month since February 2012.

The surge in sales is attributed to attractive new launches and improved buying sentiment, bolstered by lower mortgage rates. February saw the debut of two major suburban projects: Parktown Residence in Tampines and Elta in Clementi. Parktown Residence, an integrated development, sold 1,041 of its 1,193 units, whilst Elta moved 326 of its 501 units.

Tricia Song, CBRE Head of Research for Singapore and Southeast Asia, noted, “The key draw for Parktown Residence was its unique status as an integrated development with direct access to amenities including a retail mall and the future Tampines North MRT station.”

The Outside Central Region (OCR) dominated sales, accounting for 92.2% of February’s transactions, driven by the success of Parktown Residence and Elta. The Rest of Central Region (RCR) and Core Central Region (CCR) contributed 6.2% and 1.6% of sales, respectively.

Looking ahead, CBRE Research forecasts 7,000 to 8,000 new homes will be sold in 2025, with private residential prices expected to rise by 3-6%. The market remains cautiously optimistic, with attractive pricing and a robust pipeline of launches anticipated to sustain momentum.
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This news story was carefully selected and published by a human editor, though the content itself was AI-generated. If you spot an error, please report it here.