Industry News

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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CGS International has released its latest Singapore equities strategy note, indicating a cautious approach in the near term due to rising recession concerns and uncertainties surrounding trade tariffs. The firm is adopting a more risk-off strategy, with a particular emphasis on Real Estate Investment Trusts (REITs) as a safer investment option. The strategy note, authored by Lock Mun Yee, Lim Siew Khee, and Melvin Lim, suggests that the market could mimic the downturn experienced during the Trump administration in 2018.

The strategy note outlines a bullish stance on REITs, predicting a 1% growth in distribution per unit (DPU) for 2025. This optimism is driven by peaking fund costs and positive rental reversions, alongside a pivot in interest rates that could lower capital costs and enhance acquisition opportunities for REITs. The note also highlights Singapore’s appeal for its dividend yield, which is expected to increase from 4.1% in FY24 to 4.6% in FY25.

CGS International’s top Singapore stock picks include UOL, KDCREIT, iFAST, and CLAR, among others. The firm has removed previous picks such as SCI and UOB, citing limited near-term catalysts. The strategy note also reports mixed results from the 4Q24 earnings season, with Capital Goods, Finance, and Technology sectors outperforming, whilst Property and REITs lagged behind.

In conclusion, CGS International’s strategy reflects a cautious yet opportunistic approach, with a focus on sectors and stocks that offer stability and growth potential amidst economic uncertainties. The firm’s emphasis on REITs and dividend yield growth underscores its strategy to navigate the current market landscape.
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McCann Worldgroup Singapore and Simmons have unveiled their latest campaign, “Advance Your Sleep,” in celebration of the 100th anniversary of Simmons’ Beautyrest brand. The campaign, launched on World Sleep Day, aims to highlight the brand’s commitment to innovation and superior sleep experiences across Southeast Asia, including Singapore, Malaysia, Indonesia, the Philippines, Vietnam, and Thailand.

Singapore, identified as the third most sleep-deprived city in a 2023 study, sees only 25% of its population getting more than seven hours of sleep each night. This campaign seeks to address the detrimental effects of poor sleep on health and productivity, particularly targeting young adults in their 20s and 30s, who are known for their poor sleep habits.

Samantha Vong, Managing Director of Simmons SEA, noted the campaign’s success in resonating with its target audience, stating, “The creatives and headlines were cleverly crafted to relate with our 20s to 35s audience… Accompanied by a well thought-out media plan, we are confident it will drive desirability for Simmons brand amongst these younger audiences.”

The campaign utilises social media platforms like TikTok and YouTube, as well as shopping centre activations, to promote the benefits of quality sleep. Fathrul Fazakir, General Manager of McCann Singapore, emphasised the importance of the initiative, saying, “On World Sleep Day, we’re advocating for better sleep for the region by partnering with Simmons, experts in rest with a 100-year old legacy.”

As Simmons and McCann Worldgroup Singapore collaborate once again, the campaign aims to advance sleep quality in the region, leveraging the latest in sleep technology.
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Hybrid working is significantly advancing gender parity and supporting women’s career progression, according to new research by International Workplace Group. The study, conducted with over 1,000 female workers, found that 64% of women consider hybrid work almost twice as important as parental leave in supporting their careers. Over half of the respondents reported that hybrid work has led to promotions into more senior roles.

The research highlights the importance of flexibility, with 84% of women considering it a key factor when applying for new roles. Additionally, 58% would leave their job if required to endure long daily commutes. The flexibility of hybrid work also enables 68% of women to remain in the workforce despite caretaking responsibilities.

In Singapore, flexible work arrangements have contributed to narrowing the employment gap between men and women, which decreased from 20.1 percentage points in 2013 to 12.4 percentage points in 2023. The Tripartite Guidelines on Flexible Work Arrangements Requests have further supported women in balancing professional and personal commitments.

Fatima Koning, CCO of International Workplace Group, stated, “IWG’s latest study shines a light on the key role hybrid and more flexible ways of working opportunities can play in achieving parity.” Mark Dixon, CEO of International Workplace Group, added, “Companies that prioritise flexible and hybrid ways of working will gain a competitive edge in attracting and retaining top female talent.”

The study underscores that hybrid work not only supports women’s career advancement but also boosts productivity, with 82% of women feeling more productive when working from a location of their choice. This flexibility is crucial for businesses aiming to retain talent and enhance productivity.
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GROW with Singlife, an integrated investment platform under Singlife, has partnered with abrdn Investments to launch an exclusive share class of the abrdn SICAV II Global Income Bond Fund. The fund, available only on GROW’s platform, aims to deliver a compelling yield to worst of 6.5% USD hedged, offering attractive monthly payouts and potential capital appreciation.

The fund strategically invests in a globally diversified portfolio of crossover bonds, rated between BBB and BB, to balance stability and higher returns. This approach caters to conservative investors seeking stability and those pursuing higher yields. The launch comes as inflation eases globally and central banks are expected to cut rates, making traditional short-term cash management instruments less appealing. Fixed income investments are gaining traction for their ability to provide higher yields and sustainable returns.

Tim Wong, Head of Product at GROW with Singlife, stated, “This fund represents a compelling option for those seeking attractive, stable income solutions with controlled risks.” The fund addresses the growing need for reliable retirement income, especially as Singapore’s population ages. A 65-year-old today requires an estimated $685,000 to fund 20 years of retirement, highlighting the importance of stable payouts.

Natalie Tan, Head of Wholesale Southeast Asia at abrdn Investments, expressed enthusiasm for the partnership, noting that the fund offers a valuable addition to income-focused portfolios. With a strong history of delivering consistent income and competitive performance, the fund ranks among the top performers in its category, according to Morningstar.

The abrdn SICAV II Global Income Bond Fund was officially introduced at a launch event at Marina One, attended by industry leaders and financial advisers. Investors can learn more by contacting their financial advisers or visiting GROW’s website.
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