The Business Times

Watch maven Tay Liam Wee sells Nassim GCB plot for S$92m

The 23,922-sq-ft vacant site is being sold by former Sincere Watch boss to Dr Ian Tan, founder of medical aesthetics clinic chain V Medical, which operates 21 clinics across Singapore.

Oil surges past US$110, rattling markets in Asia and clouding Fed rate-cut outlook

BRENT crude’s surge past US$110 a barrel sent Asian markets lower on Thursday (Mar 19), and is set to further jolt sentiment, as escalating strikes between Iran and Israel threaten critical energy infrastructure. This followed the US Federal Reserve’s...

Singapore’s Feb key exports growth slows to 4%; electronics surge eases, non-electronics slide

THE Republic’s key exports rose 4 per cent year on year in February, easing from the preceding month’s revised 9.2 per cent growth, data from Enterprise Singapore (Enterprisesg) showed on Tuesday (Mar 17). The latest non-oil domestic exports (NODX)...

A fresh start for Jurong Lake District with Town Hall Link site released

THE Urban Redevelopment Authority (URA) has released the first Jurong Lake District (JLD) plot, carved out of a massive area previously tendered for a master developer project, with a white site along Town Hall Link put up for sale from its reserve...

Iran war ups inflation risks, tips scales for MAS to go for stronger Singdollar in April

THE escalating conflict in the Middle East and sharp rise in crude oil prices have tilted the odds in favour of the Monetary Authority of Singapore (MAS) tightening monetary policy at its review in April, analysts said. Several economists now expect...

Ringgit’s rebound tests Malaysian exporters as Singdollar remains resilient

MALAYSIA’S ringgit has surged to its strongest levels in years, but for businesses trading across the Johor Strait, the key question is how the currency will fare against the resilient Singapore dollar. The ringgit’s rally, buoyed by improving...

Brazilian payments unicorn focuses on Asia-pacific with upcoming HQ here

Ebanx, which entered Asia in 2023, will open its Asia-pacific headquarters with a team of 25 in the country. AFTER a banner 2025 financial year, Singapore-listed property stocks look set to extend their run into 2026, supported by steady residential...

Singapore, regional petrochem sector could see more force majeure notices

THE escalating conflict in the Middle East has cast a pall on Singapore’s petrochemical sector, with two key players declaring force majeure in the past week and some analysts expecting that more could follow. “It is looking very grim for Singapore’s...

Iran conflict could lift palm oil prices, but not all SGX agri players will gain

PROLONGED Middle East instability could push crude palm oil (CPO) prices higher on stronger biodiesel demand – a dynamic that may benefit upstream plantation companies but pressure integrated operators. Analysts said that Singaporelisted planters with...

SPEED AND SAVINGS: WHAT’S DRIVING SINGAPOREANS TO KEEP LUXURY CARS IN MALAYSIA

Former racing driver Ringo Chong helps Singaporeans take their cars for a spin on a former Formula 1 racetrack – but without F1-sized bills. His company, Ringo Chong Racing & Promotions, provides storage and maintenance services for track-only cars at...

Oil spike drags Asian currencies lower; Fed and Middle East trajectory key risks

ESCALATING tensions in the Middle East have pushed major Asian currencies lower against the US dollar over the past week, as oil prices surged and investors sought the greenback as a safe haven. However, analysts said energy prices – the main...

Singapore energy regulator cautions Gulf conflict could hike electricity prices

SINGAPORE electricity prices could rise if global gas prices remain elevated amid Middle East tensions, the Republic’s energy regulator told The Business Times. Market players are watching prices closely, but believe that Singapore’s electricity...

S-E Asian businesses in the Gulf take safety measures, hunker down for lengthy disruption

SOUTH-EAST Asian companies with Gulf exposure are in contingency mode as the Us-iran conflict ripples through the region, causing margin pressures as freight and energy costs spike. Exporters to the Middle East, companies in the oil and gas (O&G)...

War impact on energy cost: Singapore to reassess growth, inflation forecasts if needed

THE Republic will reassess its growth and inflation forecasts if necessary, following the outbreak of conflict between the US, Israel and Iran, which has raised the risk of higher global energy prices, said Deputy Prime Minister Gan Kim Yong in...

Wealth flows, Asean momentum to anchor Singapore banks in 2026: observers

SINGAPORE’S three local banks exited FY2025 on a firm footing, as stronger fee and wealth income helped offset pressure from lower interest rates, while provisioning buffers kept asset quality broadly stable heading into 2026. With further rate cuts...

THE NEW RULES OF ENGAGEMENT: FORGET MINED DIAMONDS, GO LAB-GROWN

FOR decades, the mined diamond was the undisputed centrepiece of a marriage proposal, including in Singapore. But pragmatic couples are breaking with tradition by opting for lab-grown stones instead. Lab-grown diamonds now account for about 80 per cent...

Over-reliance on taxing the rich risks shifting burden to middle class: PM Wong

RELYING solely on “ever-higher” taxes on the wealthy risks undermining competitiveness, enterprise and job creation, and has limits in addressing inequality, said Prime Minister and Finance Minister Lawrence Wong in Parliament on Thursday (Feb 26). As...

OCBC’S new CEO Tan Teck Long pivots to Asean, wealth business for expansion

A STRATEGIC shift towards Asean, wooing the high net worth to expand OCBC’S wealth pie, and an intensified focus on technology – these are some of the key strategies that the bank’s new group chief executive officer, Tan Teck Long, intends to...

UOB upbeat on Asean trade despite fresh US tariffs, trims 2026 fee guidance

AS FRESH tariffs cloud the global trade outlook, UOB said that Asean’s intra-regional momentum remains intact, positioning the region as a relative bright spot amid rising volatility. While businesses may adopt a cautious stance in the near term as...

Core inflation eases to 1% in January as MTI, MAS keep full-year forecast at 1-2%

THE Republic’s core inflation eased to 1 per cent in January from 1.2 per cent in December, defying economists’ expectations even as headline inflation edged higher. Private-sector economists had expected the rate for core inflation, which excludes...

Singapore monitoring situation as Trump’s 15% tariff threat raises uncertainty

THE Singapore government is closely monitoring fresh tariff developments and engaging its US counterparts, and stands ready to render more support measures if needed, as US President Donald Trump’s new 15 per cent tariff threat heightens...

AIMING FOR THE RIGHT BLEND: C-BEAUTY’S CHALLENGE TO K-BEAUTY CAN’T BE BRUSHED OFF

ONCE a loyalist of South Korean beauty products, 30-year-old civil servant Aurelia Teo has diversified to cheaper China-branded options – and she is far from alone. “I used to be quite loyal to Korean beauty, but as I learnt more about skincare...

One Raffles Place expected to be put on the market at S$2.3b to S$2.4b

ANOTHER substantial office asset in a prime location in the Central Business District is expected to be put on the market this year amid improving property investment sentiment fuelled by lower interest rates. All the owners of One Raffles Place,...

Luxury condos see robust sales in 2025; what’s behind buzz and will it continue?

A FLURRY of new projects launched in the prime Core Central Region (CCR) spurred fresh interest in luxury condominiums, where sales of large, prime units rose last year to their highest level since 2023. The substantial injection of new 99-year...

January new home sales down 57% at 466 units, with two new projects launched

DEVELOPERS sold 466 private homes (excluding executive condominiums) in January, down 57 per cent from the year-ago period, as 2026 opened with two projects launched in the first month of the year. January sales were up 136.5 per cent from the 197...

Why Singapore’s white-collar AI training drive is starting with law and accounting

THE Republic’s push to equip white-collar workers with artificial intelligence (AI) skills is starting with lawyers and accountants – two data-heavy professions under growing manpower strain. Industry observers said the move reflects the clear,...

Margin relief lifts outlook for DBS, OCBC and UOB, extending Singapore bank rally

THE three local banks may be nearing the end of the margin squeeze that has weighed on earnings over the past year, as interest rates stabilise and funding pressures ease, analysts said. Ahead of the banks’ fourth-quarter results, sentiment remains...

Kkr-led STT GDC deal speeds up Singtel’s push to digital infrastructure, say analysts

A S$6.6 BILLION deal led by private equity giant KKR, alongside Singtel, to acquire Singapore-based ST Telemedia Global Data Centres (STT GDC) is expected to propel the telco to a top-tier position in the Asia-pacific data centre space. It also...

Singapore players eye securities financing amid global demand, wealth inflows

MORE financial institutions in Singapore are eyeing the securities financing business, given increasing global demand and a growing supply of assets as wealth continues to flow into the Republic, observers said. Singapore’s securities financing market...

Call for investor caution as MAS, SGX pave way for forward-looking disclosures

THE door may soon open for forward-looking disclosures by listed companies, with market observers saying the shift could improve transparency and narrow information gaps, even as they caution that such statements carry inherent risks and require...

What makes a ‘good job’ today – and why this is harder to create

GOOD jobs are still defined by pay, stability and progression, but creating such roles – and making them accessible – has become increasingly difficult, labour observers say. The issue has come into sharper focus after the Economic Strategy Review...

E&O’S RM60B Andaman project moves from homes to hubs

The artificial island off Penang is moving into its next phase – to become a lifestyle and business hub. A second link, Gurney Bridge, connecting it to Gurney Drive, has recently opened.

MAS maintains monetary policy settings; tightening expected in April or July

ECONOMISTS expect the Monetary Authority of Singapore (MAS) to tighten monetary policy in April or July after keeping settings unchanged in January, amid a more optimistic growth outlook and higher inflation projections. Though most expect a move in...

Singapore firms could grow revenue by S$12.3b with Enterprisesg support in 2025

AMID a volatile macroeconomic environment in 2025 fraught with trade tensions and disruptions, Singapore companies are expected to grow their annual revenue by S$12.3 billion and create 10,000 skilled jobs through projects supported by Enterprise...

Micron invests US$24B to expand Singapore manufacturing complex

SEMICONDUCTOR giant Micron Technology broke ground on Tuesday (Jan 27) morning on an advanced wafer fabrication facility in Woodlands as part of a major investment of US$24 billion over the next decade. This brings Micron’s total investments in...

Sgx-listed pawnbrokers, stocks ride gold rally as precious metal breaks US$5,000 level

PAWNBROKERS have emerged as beneficiaries of gold’s historic rally, as the yellow metal crossed the psychological US$5,000 mark and set yet another record. After already gaining much ground in the past year or so, gold prices are still rising on a...

Johor-singapore SEZ’S RM68B fuels state’s record investment haul as interest swells

THE Johor-singapore Special Economic Zone (JS-SEZ) pact locked in RM68 billion (S$21.9 billion) in approved investments during the first nine months of 2025, accounting for nearly 75 per cent of Johor’s record RM91.1 billion, one of the country’s top...

FROM K-POP TO ‘PETROL STATION’ SETS: HOW PHOTO STUDIOS ARE CLICKING WITH CUSTOMERS

TWO decades ago, young Singaporeans squeezed behind the curtains of Japanese-style Neoprint booths to snap photos, embellish them with glittery doodles, and print them out as stickers. Once omnipresent in arcades and malls, these booths faded away in...

Construction demand to stay firm at S$47b to S$53b in 2026: Chee Hong Tat

CONSTRUCTION demand in Singapore is expected to remain firm in 2026, with S$47 billion to S$53 billion of contracts expected to be awarded, said Minister for National Development Chee Hong Tat on Thursday (Jan 22). This is broadly in line with the...

Gold, silver hit fresh highs as Trump’s Greenland tariffs rattle European markets

GOLD and silver scaled new alltime highs on Monday (Jan 19), as investors continued to pour money into safe-haven assets following the Trump administration’s latest tariff salvo – this time linked to Greenland. Spot gold prices climbed 1.4 per cent to...

Secondary listings on SGX set to grow in 2026, but regulatory frictions loom

WITH three recent sizeable secondary listings bringing the total on the Singapore Exchange (SGX) to 29, industry players expect more entrants this year, especially with the streamlining of some regulatory processes. “We do see some secondary listings...

Singapore port achieves record-high performance in 2025

THE Port of Singapore had a banner year in 2025, achieving all-time highs for annual vessel arrival tonnage, container throughput, marine fuel sales, sales of alternative bunker fuels, and total tonnage of ships under the country’s flag. Gross tonnage...

Malaysia’s MM2H’S new pull: Schools, second homes and a Greater China surge

THE Malaysia My Second Home (MM2H) scheme, which generated nearly RM900 million (S$284.2 million) in the year to June 2025, is increasingly being used as a visa for globally mobile families chasing international school access and a second base – not...

‘SEARCH FUNDS’ TO BUY SMES SPRING UP IN THE ASIA-PACIFIC, BUT WILL THEY SUCCEED?

AFTER a 15-year career ranging fr m engineering to invest nt banking, Pete Seligman left he corporate world – and w nt looking for a company to y. In 2013, he and a friend founded buy t vehicle Alpin Group to acqu re, operate and grow small businesses...

Singapore manufacturing growth to ease; AI boom, tariff exemptions bright spots

GIVEN the continued artificial intelligence (Ai)-led electronics demand and exemptions from US President Donald Trump’s sectoral tariffs, Singapore’s manufacturing sector is still expected to chart growth this year, albeit at a more moderate pace. The...

Revitalised IPO market, policy tailwinds could drive STI past 5,000 by end-2026: analysts

THE Straits Times Index (STI) could breach the 5,000-point mark by the end of 2026, driven by policy tailwinds, recovering earnings and a revitalised initial public offering (IPO) market. UOB Kay Hian (UOBKH) set a bullish target, citing support from...

Business class airfares could rise as Apac passenger traffic continues to expand

STRONG growth in consumer demand for air travel in Asia could push up prices for some business class seats this year, analysts say. But higher capacity in the low-cost segment is expected to keep tickets affordable for budget travellers. Most markets...

WHEN CHANGE IS THE CONSTANT: POLICIES AND POLITICS TO WATCH IN 2026, AT HOME AND ABROAD

After a roller-coaster year shaped by a stop-start global trade war, 2026 is expected to be similarly rocky for Singapore, even if changes at home are more controlled. Amid international turbulence, the People’s Action Party won the 2025 General...

Transition in full swing: 4G leadership’s direction and Budget 2026 priorities

THE year 2025 may be remembered as solidifying Singapore’s transition to its fourth-generation (4G) leadership. This year should bring a clearer sense of the 4G team’s priorities, with its economic strategy review to be completed by mid-year. The...

Singapore posts 4.8% growth in 2025, but sustaining pace will be challenging: PM Wong

THE economy grew a strongerthan-expected 4.8 per cent in 2025, but sustaining this pace will be challenging, Prime Minister Lawrence Wong said in his New Year message on Wednesday (Dec 31). “We will face more obstacles to growth, and inflationary...

Contract hiring, higher foreign labour costs: Trends shaping manpower landscape in 2026

A RISE in contract or project-based roles is among several trends expected to shape the labour market in 2026, as hiring sentiment cools sharply in the uncertain economic climate, said watchers. Chua Han Teng, DBS senior economist, said: “Firms are...

En bloc sale market in 2026 set to be more active, but challenges remain

AFTER another subdued year for collective sales, the market could see more activity in 2026 as financing costs fall and rules governing the en bloc sale process come under review. Ageing condominiums put up for sale have struggled to close deals in...

CHINA’S POLAR SILK ROAD TAKES SHAPE, PUTTING SINGAPORE’S MARITIME FUTURE IN FOCUS

Chinese carrier Sea Legend Line made maritime history in October, becoming the first to offer a liner-type shipping service with multiple stops from Asia to Europe through the Arctic. The voyage through the Northern Sea Route (NSR) in the Arctic by...

Singapore F&B players see stronger festive demand, but retailers report uneven spending

HOTELS and restaurants are experiencing stronger year-end festive dining demand, with bookings coming in earlier – but the picture is more mixed for retailers. Demand for French restaurant Brasserie Gavroche’s festive menus is 15 per cent higher this...

COE supply expected to rise 20% in 2026, but premiums may not fall in proportion

THE supply of passenger car Certificates of Entitlement (COES) may grow some 20 per cent next year, but premiums may not fall significantly, say industry observers. This is because demand will remain strong, supported by electric vehicle (EV) buyers...

F&B players push for more changes in import rules to ease food cost squeeze

THE Restaurant Association of Singapore (RAS) is calling for an expansion of food sources approved by the authorities while also exploring collective procurement, as local food and beverage (F&B) operators face stiffer competition and rising operating...

THE ART OF INVESTING IN SPITE OF MELTING ASSET VALUES

Singapore industrial market expected to turn in ‘uneven growth’ in 2026

STEADY demand for high-spec manufacturing and logistics space kept Singapore’s industrial property market stable this year, but a flood of new supply amid ongoing global trade uncertainty could lead to significant moderation in certain sectors,...

Economists raise 2026 growth forecast to 2.3%, upgrade 2025 forecast: MAS survey

PRIVATE-SECTOR economists have turned more optimistic about the Republic’s 2026 growth, with a median expectation of 2.3 per cent in the latest quarterly survey released by the Monetary Authority of Singapore (MAS) on Wednesday (Dec 17). This is up...

Asean Power Grid projects could attract more Chinese investor interest in 2026

CHINA’S clean-power players and investors are poised to expand their footprint in South-east Asia in the coming year, riding on the momentum of a region-wide effort to build cross-border energy linkages. The effort, dubbed the Asean Power Grid (APG),...

Rebate cuts won’t hurt Singapore’s momentum as top EV market in S-E Asia

THE Republic’s electric vehicle (EV) adoption rate should continue to grow in 2026 despite a cut in incentives for passenger EVS, say industry observers. Passenger EV sales will be driven by cost-effective China models and increased competition among...

Hongkong Land hives off MBFC Towers 1 and 2, One Raffles Quay into private fund

The Singapore Central Private Real Estate Fund, expected to hold more than S$8b in AUM at inception, will be Republic’s biggest private real estate fund and focus exclusively on managing prime commercial property assets.