Industry News

Singapore’s non-oil domestic exports (NODX) experienced a modest increase of 2.3% year-on-year in January and February. This growth, however, marks a slowdown from the previous quarter’s 2.4%, primarily due to a deceleration in electronics exports, which rose by 8.2% compared to 14.2% in the fourth quarter of 2024, according to a report by UOB Global Economics and Markets Research.

The report highlights that the electronics sector, a significant component of Singapore’s exports, saw a decline in integrated circuits and PCB assembly, although this was partially offset by improvements in personal computers and telecommunications equipment. Electronics non-oil re-exports also showed a slight increase to 17.1% year-on-year, indicating continued front-loading of exports amidst escalating trade tensions.

UOB’s analysis suggests that the peak in electronics NODX growth has likely passed, with a further moderation observed in February. The report attributes this to the broader regional electronics cycle, which has also peaked in key markets like South Korea and Taiwan.

The uncertainty surrounding trade policy has reached unprecedented levels, as measured by the Trade Policy Uncertainty index. This rise in trade tensions is expected to impact consumer and business confidence, particularly in the United States. UOB maintains its forecast for a 1.5% growth in NODX for 2025, factoring in a potential slowdown in export momentum in the second half of the year due to tariff impacts. This forecast aligns with the official projection range of 1.0% to 3.0% by Enterprise Singapore.
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Singapore’s non-oil domestic exports (NODX) experienced a significant rebound in February 2025, growing by 7.6% year-on-year.

This follows a 2.1% decline in the previous month, highlighting a positive shift in the nation’s trade performance.

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Global law firm Hogan Lovells has announced significant leadership changes, appointing Siew Kam Boon as the new Office Managing Partner for its Singapore office, effective 1 April 2025. Siew Kam takes over from Biswajit Chatterjee, who will transition to the same role in the firm’s Dubai office.

Siew Kam joined Hogan Lovells in January 2025 as Head of Private Equity in the Asia-Pacific (APAC) region and will continue in this capacity. Recognised in Best Lawyers in Singapore for corporate law since 2020, she brings extensive experience in mergers and acquisitions (M&A), private equity, and venture capital across various sectors, including technology and healthcare. “I am keen to build on Bis’s excellent work, leading our highly talented team in Singapore and driving our strategic initiatives,” Siew Kam stated.

Biswajit Chatterjee, who has been with Hogan Lovells since July 2021, will assume his new role in Dubai, succeeding Rahail Ali. Bis, qualified in both the US and India, has a strong background in capital markets and M&A transactions. He will focus on expanding the firm’s India desk from Dubai and enhancing its presence in the Middle East. “Dubai has developed as a natural hub for the India – Middle East – Europe – Africa corridors,” Bis noted, highlighting the strategic importance of the region.

These leadership changes are poised to strengthen Hogan Lovells’ capabilities in both Singapore and Dubai, aligning with the firm’s strategic goals in highly-regulated sectors such as technology and financial services.
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The National Robotics Programme (NRP) has officially launched RoboNexus, an accelerator programme designed to fast-track promising robotics startups and small and medium-sized enterprises (SMEs) in Singapore. Unveiled on 14 March 2025 at RoboSG! 2025, Singapore’s largest robotics showcase, RoboNexus aims to provide tailored mentorship, business development support, and global market access for local startups.

The launch event, held at JTC’s Punggol Digital District, was officiated by Dr Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry. The programme has already benefitted six companies, including LionsBot and KABAM Robotics, by enhancing their product development and expanding industry partnerships.

RoboNexus is guided by an advisory board comprising leaders from government organisations, venture capital, and the global robotics industry. The programme offers customised assistance, including access to technology providers and global markets. “RoboNexus has played a pivotal role in driving dConstruct Robotics’ expansion,” said Chinn Lim, CEO and Co-founder of dConstruct Robotics.

RoboSG! 2025 showcased over 75 cutting-edge robots across 65 booths, illustrating the potential of robotics in real-world applications. The event also featured the signing of a Research Collaboration Agreement and two Memoranda of Understanding to advance robotics research and industry collaboration.

With Singapore ranking second globally in robot density, RoboNexus is set to further strengthen the country’s robotics ecosystem, empowering local startups to capture global market opportunities.
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Asia’s first adventure-based zoological park, Rainforest Wild Asia, has officially opened in Singapore on 12 March 2025. Co-designed by Grant Associates, renowned for their work on Gardens By The Bay, the 13-hectare park offers visitors an immersive experience within the Mandai Wildlife Reserve. The park aims to provide a sensory journey through naturalistic habitats where animals such as the Malayan tiger and hog deer roam freely.

Grant Associates, appointed by Mandai Wildlife Group in 2017, collaborated with CLR Design to develop the landscape vision. The design and build contract was awarded to China Jingye Engineering Corporation in 2020, with DP Architects and DP Green contributing to the project. The park features elevated walkways and various adventure activities, including harnessed tours and freefall experiences, allowing guests to explore different layers of the rainforest.

Over 7,000 native trees and shrubs have been planted to enhance the park’s natural environment. Interactive activities and educational opportunities are integrated throughout, encouraging visitors to engage with the rainforest ecosystem. Andrew Grant, founder and director at Grant Associates, expressed his excitement: “This project redefines what it means to connect with nature. Our approach has been to create a landscape that feels as authentic and immersive as possible.”

The opening of Rainforest Wild Asia marks a significant addition to Singapore’s wildlife attractions, promising to inspire a deeper appreciation for biodiversity and conservation.
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PlayMade, a prominent bubble tea brand, has partnered with QuikBot Technologies to trial autonomous final-mile delivery solutions at select outlets in Singapore. This collaboration aims to integrate QuikBot’s Autonomous Final-Mile Delivery (AFMD) Platform-as-a-Service (PaaS) to enhance operational efficiency in beverage production and logistics.

The initiative will see PlayMade implement QuikBot’s AFMD PaaS in a real-world setting, assessing the feasibility and scalability of robotic delivery in the food and beverage (F&B) industry. As part of the trial, PlayMade will introduce an advanced automated bubble tea machine capable of crafting drinks in just 6–8 seconds. This, combined with QuikBot’s robotic delivery network, is expected to streamline workflows and improve customer service.

Key areas of focus for the pilot include evaluating the synergy between automated production and delivery, benchmarking delivery performance against traditional methods, and refining packaging for robotic transport. The programme will also explore consumer perceptions and pricing strategies for autonomous delivery services.

Tan Guo Rong, Managing Partner of PlayMade, stated, “Innovation has always been the driving force behind PlayMade. Our partnership with QuikBot allows us to reimagine customer convenience through automation, from brewing to delivery.”

Alan Ng, CEO and Founder of QuikBot Technologies, added, “This collaboration with PlayMade showcases how technology can streamline operations, lower costs, and enhance customer satisfaction.”

Initially, orders will be placed manually via WhatsApp, with plans to launch a dedicated PlayMade app by Q3 2025. The pilot will target off-peak office hours to optimise order fulfilment. Upon completion, PlayMade and QuikBot will share their findings with the broader F&B industry to promote innovation and efficiency.
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Singapore-headquartered Schenker has signed a long-term tenancy agreement with Equalbase for an 830,000 square feet warehouse at the Equalbase Sunway 103° Free Commercial Zone in Johor, Malaysia. This strategic move aims to enhance Schenker’s regional operations and cross-border logistics between Malaysia and Singapore.

The warehouse is part of the first phase of the 103° development, which spans 2.2 million square feet and is set to go live in the first quarter of 2026. Situated within the Johor-Singapore Special Economic Zone, the facility is co-owned by Equalbase and the Sunway Group, a major Southeast Asian conglomerate. The development’s prime location, just 5km from the Singapore-Malaysia Second Link Bridge, positions it as a key logistics gateway.

Nicholas Bischoff, CEO of Equalbase, highlighted the shared vision between the two companies: “Equalbase and Schenker share a long-standing relationship built on open collaboration, innovation, and commitment to sustainability.”

The facility’s carbon-neutral design underscores Schenker’s commitment to sustainable logistics. Catherine Soo, CEO of Schenker Singapore and Malaysia Cluster, stated, “Equalbase Sunway 103°, a carbon-neutral free zone facility, presents a unique opportunity for us to develop the next mega logistics campus.”

The development is expected to support industries such as automotive, semiconductors, and FMCG, reinforcing Equalbase’s role in shaping green supply chain management in Asia. As businesses increasingly prioritise sustainability, the collaboration between Equalbase and Schenker sets a benchmark for environmentally responsible warehousing solutions.
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Network for Electronic Transfers (NETS), Singapore’s leading payment services group, has announced the appointment of Alex Woo as the new CEO of Banking Computer Services Private Limited (BCS), effective immediately. BCS, a wholly owned subsidiary of NETS, is responsible for managing key payment systems such as FAST, Interbank GIRO, eGIRO, PayNow, and the SGQR Central Repository.

Woo, who previously held senior roles at DBS, brings over three decades of leadership experience in technology operations and infrastructure resiliency. His appointment is seen as a strategic move to enhance innovation and efficiency in Singapore’s payment ecosystem. Lawrence Chan, Group CEO of NETS, stated, “Mr Woo is a veteran technology leader with a proven track record in driving transformative initiatives and leading organisational change.”

Woo expressed his enthusiasm for the role, stating, “I am excited about the opportunity to lead the team at BCS and work with the wider NETS Group as well as industry players to contribute to a more robust and resilient payment scene.”

Before joining BCS, Woo served as Technology Chief Operating Officer and Managing Director at DBS, and also led DBS Technology India and PT DBS Bank Indonesia. His educational background includes a Master of Business Administration from Henley Management College and a Bachelor of Science in Computer Science and Information Systems from the National University of Singapore.

The appointment marks a new phase for BCS as it aims to strengthen Singapore’s national clearing and payment infrastructure under Woo’s leadership.
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Singapore’s stock market experienced a significant boost in the first week of March, with institutional investors contributing S$39m in net inflows. This marks the first instance of net buying by institutions since late January and the highest weekly net inflow since December’s shortened trading week.

The Industrials and Consumer Non-Cyclicals sectors were the primary beneficiaries, with substantial net inflows reversing two months of net outflows. Industrials, which had seen a net outflow of S$93.5m in the first two months of 2025, recorded a S$102.1m net inflow last week. This surge was led by companies such as ST Engineering and Singapore Airlines. Similarly, the Consumer Non-Cyclicals sector, led by Wilmar International, Thai Beverage, and First Resources, saw a net inflow of S$22.6 million, more than offsetting the S$8 million outflow from earlier in the year.

Among the 50 stocks with the highest net institutional inflows, Hong Leong Asia, ST Engineering, ISDN Holdings, and First Resources posted double-digit percentage price gains. Notably, ISDN Holdings reported a 72% increase in FY24 attributable net profit, driving a 12.9% rise in its share price. The company’s revenue grew 9% year-on-year, with significant contributions from its China and Southeast Asia industrial automation businesses.

This influx of institutional investment signals a renewed confidence in Singapore’s market, potentially setting the stage for continued growth in the coming months.
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The Singaporean-German Chamber of Industry and Commerce (SGC) held its Annual General Meeting on 14 March, electing a new board for the 2025/2026 term and reinforcing its dedication to fostering innovation and collaboration between Singapore and Germany. Under the theme ‘Driving Innovation, Empowering Partnerships’, the chamber emphasised its commitment to six decades of bilateral cooperation and future economic growth.

Shirley Qi, re-elected as President for a third term, highlighted the chamber’s vision amidst digitalisation and sustainability challenges. “In an era defined by digitalisation and sustainability, we remain steadfast in our mission to champion bilateral business growth and innovation,” she stated. Executive Director Tim Philippi echoed this sentiment, noting, “The strength of the Singaporean-German business community lies in its ability to adapt, innovate, and collaborate.”

Following the AGM, a Lunch Dialogue featured Kok Ping Soon, CEO of the Singapore Business Federation, who underscored Singapore’s strategic position as a gateway to ASEAN and Asia for German businesses. He remarked on Singapore’s robust financial ecosystem and its role as an innovation hub, stating, “With its multitude of free trade agreements, Singapore is strategically positioned as a gateway to ASEAN and Asia for German businesses.”

Looking forward, the SGC remains committed to creating a business-friendly environment that champions innovation and strengthens economic collaboration between the two nations. The newly elected board, including Vice-Presidents Holger Lindner and Jens Rübbert, will lead these efforts.
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