Industry News

VAIO Corporation has announced its return to the Singapore market, partnering with Unified-1 Solutions as its official distributor. This strategic move aims to meet the rising demand for high-performance computing solutions in Southeast Asia. VAIO is introducing two new laptop models: the VAIO SX14-R for consumers and the VAIO Pro PK-R for business users, both featuring advanced technology and lightweight design.

The re-entry into Singapore underscores VAIO’s recognition of the country’s vibrant business ecosystem and technological focus. Founded in 1997 as a PC brand under Sony Corporation, VAIO became an independent entity in 2014. It has since maintained its reputation for innovative design and performance, with corporate laptops accounting for 90% of its sales.

The new VAIO laptops, weighing just 1.08kg, are crafted from carbon fibre and designed for mobile productivity. They include features such as AI-powered noise cancellation and extended battery life, enhancing user experience in various work environments. Masaki Yamano, President and CEO of VAIO Corporation, stated, “Our innovative features – such as AI noise-cancelling function and user-sensing capabilities – are designed to meet the needs of professionals and businesses prioritising seamless communication and efficiency.”

Consumers can purchase the VAIO SX14-R at Best Denki stores in VivoCity Mall, Ngee Ann City, and soon in Funan Mall. The VAIO Pro PK-R is available through authorised resellers. This launch marks a significant step in VAIO’s strategy to expand its presence in Southeast Asia, offering technology that supports dynamic lifestyles and work experiences.

ComfortDelGro Corporation is set to bid for an operation and maintenance contract for the Copenhagen metro system, according to a corrected report by UOB Kay Hian. The tender, expected to be called in June 2025, could significantly boost ComfortDelGro’s earnings if successful. The contract, which is anticipated to commence in September 2027, would mark ComfortDelGro’s third collaboration with French transport company RATP Dev.

The Copenhagen metro, currently operated by a joint venture of Italian companies, serves approximately 2 million passengers weekly across its four lines and 44 stations. The contract is valued at around €1.5 billion, with an estimated operating margin of 8%. ComfortDelGro’s potential stake in the venture is projected at 45%, which could result in an annual operating profit increase of €5 million to €6 million (S$7 million to S$8 million).

ComfortDelGro’s public transport segment is poised for growth, driven by increased rail ridership and ongoing UK bus contract renewals. The company’s taxi segment is also expected to see robust growth, bolstered by contributions from recent acquisitions, despite stiff competition from new ride-hailing services entering the market.

The company’s financial outlook remains strong, with a projected 2025 dividend yield of 5.9%. UOB Kay Hian maintains a “BUY” recommendation for ComfortDelGro, with a target share price of S$1.77, citing the company’s solid earnings growth and attractive entry point following a recent dip in share price.

The Health Sciences Authority (HSA) of Singapore has intensified its efforts to combat the sale and distribution of illegal health products, resulting in the seizure of over 970,000 units in 2024. Through coordinated operations with local and international agencies, HSA also removed 7,351 illegal product listings from e-commerce and social media platforms, disrupting the supply chain of these potentially harmful products.

Codeine cough syrup constituted 54% of the seized items, followed by sexual enhancement medicines, sedatives, and other prescription drugs. A significant operation in May 2024 led to the discovery of illegal cough syrup manufacturing in a Geylang condominium, where products were made in unsanitary conditions. This raid alone resulted in the confiscation of 165 litres of cough syrup and 57,000 units of assorted medicines, valued at $130,000.

In a bid to curb online sales, HSA collaborated with platforms like Shopee, Lazada, and Facebook, leading to the removal of listings for products such as dermal fillers, contact lenses, and weight loss supplements. HSA issued warnings to 2,868 online sellers during the year.

Prosecution efforts saw 30 individuals charged for illegal sales, including Rasel Md, who was sentenced to 31 weeks in prison for possessing and intending to sell illegal drugs. Peh Zhisheng Gabriel was fined $266,500 for importing and selling counterfeit cosmetics.

HSA’s vigilance also uncovered 14 illegal products containing banned substances, leading to severe health issues for some consumers. Notably, a man in his 50s was hospitalised after consuming Sausando Cellulite Pills, which contained the banned substance sibutramine.

The HSA continues to work with platform administrators to enhance surveillance systems and prevent the posting of illegal product listings, aiming to safeguard public health and safety.

Clime Capital, a Singapore-based fund manager dedicated to promoting low-carbon transitions, has announced its investment in Ampotech, a Singaporean energy management solutions provider. This strategic investment, facilitated through the Southeast Asia Clean Energy Fund II (SEACEF II), is set to bolster Ampotech’s expansion across Southeast Asia, with a particular focus on Vietnam, Indonesia, and the Philippines.

Ampotech specialises in AI-enabled Internet of Things (IoT) solutions that enhance energy efficiency for commercial and industrial clients. The company’s integrated devices and proprietary applications offer significant cost, performance, and cybersecurity benefits over traditional commercial products. This vertical integration allows for swift support and adaptation to evolving customer needs throughout a project’s lifecycle.

William Temple, CEO of Ampotech, expressed enthusiasm about the partnership, stating, “We are excited to partner with Clime Capital for our next phase of growth. Our ambition is to be Southeast Asia’s leading energy management company.” He highlighted Clime Capital’s expertise and market presence as key factors in unlocking new opportunities and accelerating growth.

Namrata Singh, Investments Principal at Clime Capital, echoed this sentiment, noting, “Clime Capital is excited to announce an investment in Ampotech, a pioneer in the energy management space in Southeast Asia.” She emphasised that Ampotech’s IoT solutions align with Clime Capital’s mission to advance the low-carbon transition in the region.

This investment marks a significant step in Clime Capital’s efforts to support sustainable energy solutions in Southeast Asia, potentially paving the way for further innovations in energy management.

Lendlease Global Commercial REIT (LREIT) has announced a 10.7% retail rental reversion for the first half of FY2025, reflecting the resilience of its retail portfolio. Despite this positive development, the REIT faced lower gross revenue and net property income (NPI), primarily due to the absence of supplementary rent from the Sky Complex lease restructure.

The REIT’s financial performance in 1H FY2025 saw gross revenue fall by 13.6% year-on-year to S$103.6 million, while NPI decreased by 19.8% to S$74.9 million. This decline was attributed to the upfront recognition of supplementary rent in December 2023. Additionally, higher finance costs, driven by a new EURIBOR interest rate hedge, impacted distributable income, which fell to S$43.5 million, translating to a distribution of 1.80 cents per unit.

Operationally, LREIT’s portfolio occupancy improved to 92.3% by the end of December 2024, with a long weighted average lease expiry (WALE) of 7.2 years by net lettable area. The retail portfolio maintained a high occupancy rate of 99.9%, while the office portfolio saw an increase in occupancy to 86.6%.

LREIT has also secured S$560 million in sustainability-linked loan facilities to refinance its maturing loans in 2025, with 70% of borrowings hedged to fixed rates. The REIT’s gearing ratio stood at 40.8%, with a weighted average debt maturity of 2.0 years.

Looking ahead, construction has commenced on a multifunctional event space adjacent to 313@somerset, expected to be completed in the second half of 2026. CEO Kelvin Chow expressed optimism, stating, “Our retail portfolio continues to demonstrate resilience with positive rental reversions.” The REIT aims to maintain leasing momentum and prudent capital management in the near term.

CapitaLand Investment Limited (CLI), a prominent global real asset manager, has announced its acquisition of a freehold land parcel in Osaka, Japan, to develop its first data centre in the country. This project, requiring an investment exceeding US$700 million (S$944.3 million), will also secure 50 megawatts (MW) of power capacity. This marks a significant expansion of CLI’s data centre portfolio, which has grown by 23 centres since 2021.

The development aligns with CLI’s strategic focus on digitalisation and geographical diversification. Manohar Khiatani, Senior Executive Director of CLI, highlighted Japan’s status as a Tier 1 data centre market, expected to grow at a compound annual rate of 10% from US$23.8 billion in 2023 to US$38.7 billion in 2028. “Our acquisition is well-positioned to capture demand in Osaka’s established data centre cluster,” Khiatani stated.

Ms Michelle Lee, Managing Director of Private Funds (Data Centre) at CLI, noted the strong institutional interest in data centre investments, with 97% of investors planning to increase their investments. “Leveraging CLI’s global network, we have secured this off-market opportunity in Osaka,” she said.

The Osaka data centre will be AI-ready and designed with sustainability in mind, adhering to Leadership in Energy and Environmental Design (LEED) standards. It will incorporate advanced cooling technologies and energy-efficient practices to minimise environmental impact.

CLI’s expansion into Japan underscores its commitment to enhancing its data centre capabilities and tapping into the growing demand for digital infrastructure in Asia.

Ookla’s latest H2 2024 Connectivity Report highlights Singapore’s leading mobile and fixed network providers, with Singtel and MyRepublic emerging as top performers. Singtel achieved the fastest mobile download speed at 231.96 Mbps and an upload speed of 23.72 Mbps, also offering the best mobile gaming experience. Meanwhile, MyRepublic topped the fixed network category with a median download speed of 362.34 Mbps and an upload speed of 300.32 Mbps.

The report, based on data from Speedtest, underscores the competitive landscape of Singapore’s connectivity sector. Singtel’s dominance in mobile speeds reflects its robust infrastructure and commitment to enhancing user experience, particularly for gamers who require low latency and high-speed connections. “Singtel’s performance sets a benchmark in mobile connectivity,” the report suggests, highlighting the provider’s consistent delivery of high-speed services.

On the fixed network front, MyRepublic’s impressive speeds indicate its strong position in the market, catering to the growing demand for high-speed internet in homes and businesses. The report’s findings are crucial for consumers seeking reliable and fast internet services, as well as for businesses relying on stable connectivity for operations.

As Singapore continues to advance its digital infrastructure, these insights from Ookla’s report provide valuable benchmarks for both consumers and service providers. The ongoing competition among providers is expected to drive further innovations and improvements in connectivity services across the nation.

CenterSquare Investment Management has partnered with Temasek, the Singapore-based global investment company, to launch a $100 million commercial real estate debt co-investment vehicle. Once fully funded, the vehicle will have $200 million to invest in high-quality subordinate real estate loans, continuing the strategy of CenterSquare’s Debt Fund Series.

The initiative seeks to generate risk-adjusted, equity-like returns through mezzanine loans and debt-like preferred equity investments, primarily secured by viable, cash-flowing rental assets. Michael Boxer, Managing Director of CenterSquare’s Private Real Estate Debt vertical, highlighted the current higher-rate environment as an opportunity for disciplined investors to earn attractive returns. “We’re excited to expand our relationship with the highly respected Temasek investment team,” he stated.

The first tranche of capital will be invested alongside CenterSquare’s latest debt fund, focusing heavily on multifamily assets while maintaining flexibility to adapt to market changes. Richard Gorsky, another Managing Director at CenterSquare, noted the convergence of factors such as reconstituting borrower capital stacks and resetting valuations as underpinning this timely co-investment opportunity. “It is a pleasure working with like-minded, pragmatic capital partners,” Gorsky added.

Founded in 1987, CenterSquare manages over $14 billion in assets and has offices in major cities including New York, Los Angeles, London, and Singapore. This partnership with Temasek, which began in early 2022, marks a significant step in providing creative solutions for borrowers amidst changing market conditions.

The Singapore Airlines (SIA) Group has entered into a Memorandum of Understanding (MoU) with Aether Fuels to potentially source neat sustainable aviation fuel (SAF) from the climate technology firm. Aether Fuels plans to establish SAF production plants in the United States and South East Asia, with the SIA Group intending to procure neat SAF for five years once these plants commence commercial production, with an option for a five-year extension.

Aether Fuels will utilise waste carbon feedstock to produce SAF using its proprietary Aether Aurora technology, which promises reduced capital costs, increased production efficiency, and higher yields compared to existing methods. The SAF will be blended with conventional jet fuel and supplied to selected airports served by Singapore Airlines and its low-cost subsidiary, Scoot.

Chief Sustainability Officer of Singapore Airlines, Lee Wen Fen, stated, “This partnership marks another step in the SIA Group’s journey towards our long-term decarbonisation goal of net zero carbon emissions by 2050.”

Aether Fuels, incubated by Xora and backed by Temasek, aims to produce Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA)-certified SAF, achieving a minimum 75% reduction in greenhouse gas emissions. Aether’s CEO Conor Madigan expressed pride in joining SIA’s SAF ecosystem, highlighting the collaboration’s role in advancing SAF market understanding and commercialisation.

The partnership underscores Singapore Airlines’ commitment to sustainability and innovation in aviation, aligning with global efforts to reduce the industry’s carbon footprint.

The Health Sciences Authority (HSA) of Singapore has ramped up its efforts to combat the sale and distribution of illegal health products, seizing 970,707 units and removing 7,351 listings from local e-commerce and social media platforms in 2024. This initiative, involving targeted operations and collaborations with local and international agencies, aims to protect the public from potentially harmful products.

Codeine cough syrup accounted for 54% of the illegal products seized, followed by sexual enhancement medicines at 19%, sedatives at 18%, and other prescription medicines at 9%. A significant operation in May 2024 saw HSA and the Singapore Police Force dismantle an illegal cough syrup manufacturing setup in Geylang, seizing products worth S$130,000.

HSA’s collaboration with online platforms like Amazon Singapore, Carousell, and Shopee led to the removal of listings, with 37% marketing aesthetic enhancement products. The authority issued warnings to 2,868 online sellers and prosecuted 30 individuals for illegal sales, including Rasel Md, who was sentenced to 31 weeks in prison, and Peh Zhisheng Gabriel, fined S$266,500 for selling counterfeit cosmetics.

Public alerts were issued for 14 illegal products containing banned substances like sibutramine and potent steroids. Notably, three consumers were hospitalised due to adverse effects from these products. HSA continues to urge consumers to consult healthcare professionals before using health products and remains vigilant in its enforcement actions.