Latest news with #YuenKuanMoon
Yahoo
09-07-2025
- Business
- Yahoo
Singtel's redeveloped Comcentre to be Singapore's first AI-enabled, 5G+ connected building
Set to be completed by 2028, the new $3 billion Comcentre will also be the first end-to-end carbon-neutral development in the country with Triple Certification in Singapore and Asia. Singapore Telecommunications (Singtel) and Lendlease have officially broken ground on the new Comcentre, which is slated for completion in 2028. The $3 billion development will feature more than 110,000 square metres of gross floor area across two 20-storey Grade A office towers. It will also include 20,000 square metres of retail and lifestyle spaces (comprising Singtel's new flagship store, F&B offerings, medical suites, a gym, and an auditorium) along with the largest elevated urban park in central Singapore. Set to be Singapore's first AI-enabled building, the Comcentre will be powered by dedicated 5G+ connectivity using network slicing technology provided by Singtel. This will support the seamless integration of AI, IoT sensors, and building systems to enable predictive operations, resource optimisation, and enhanced security. The building will also feature smart infrastructure that adapts to environmental conditions, alongside technology-enabled spaces designed for the future of work and retail. 'The new Comcentre will be the first AI-enabled building powered by dedicated 5G+ connectivity with network slicing to deliver ultra-fast speeds, seamless connectivity and robust security for its tenants. [We are] creating a place not just for ourselves but for businesses to use the latest technologies to develop new products and solutions and thrive. This will showcase how advanced connectivity, data and intelligent systems can transform the way people work, live and engage with their environment,' says Singtel Group CEO Yuen Kuan Moon at the groundbreaking ceremony. Besides that, the Comcentre will be a carbon-neutral development, from design through construction and operations, through the use of smart building and digital technologies. It is on track to be the first in Singapore and Asia to achieve a 'Triple Certification.' The development is targeting the International Living Future Institute's Zero Carbon certification and the WELL v2 Core Platinum Certification from the International WELL Building Institute. It also aims to become Singapore's first Green Mark Platinum (Zero Energy) high-rise commercial building under the Building and Construction Authority (BCA)'s sustainability guidelines, meeting all five of BCA's sustainability badges. Designed to achieve 70% energy savings from the Green Mark 2005 baseline, the building will cut energy consumption by an estimated 12 million kWh annually, enough to power over 3,750 three-room HDB flats, said Lendlease group CEO and managing director Tony Lombardo. To meet these targets, the project will include efforts such as: 1,000 kWp onsite renewables installed through the use of rooftop photovoltaic (PV) panels and building integrated photovoltaic panels (BiPV) to generate renewable energy Centralised high-efficiency dual-temp chiller plant supported by Active Chilled Beam and Variable Air Volume hybrid cooling system with elevated setpoint temperature for improved energy efficiency Low heat gain façade with high-performing glazing and extensive building shading to reduce cooling demand Smart lighting system with daylight and occupancy sensors for adaptive dimming and energy savings High-efficiency lifts with Variable Voltage Variable Frequency, sleep mode and regenerative features to optimise energy use EV-ready infrastructure, enabling up to 30% of parking lots to support electric vehicles (EV) The development will also reduce potable water use by 69% (equivalent to 25 Olympic-sized swimming pools) through rainwater harvesting as well as using NEWater for toilet flushing and a water intelligence system. '[This project] combines our deep expertise in sustainable development with a vision for how people will live, work and connect in the future. We are proud to partner with Singtel to deliver a world-class asset that not only redefines the workplace, but also sets a new benchmark for sustainable and connected living in Singapore and beyond,' says Lombardo. The redevelopment will showcase a digital-first approach to construction. Lendlease and its partners will implement 19 integrated digital delivery (IDD) use cases, ranging from digital design checks and virtual coordination to real-time asset monitoring and digital operations. Advanced construction methods will also be used to cut on-site labour needs by up to 30% and shorten delivery timelines by as much as 20%, according to a joint press statement. At the same event, Minister for National Development Chee Hong Tat highlighted the Comcentre's innovative contracting model as a blueprint for future developments. 'It is amongst the few major private sector projects in Singapore to incorporate an open-book payment model with gain share and Guaranteed Maximum Price, and is a forerunner for more collaborative and risk-sharing models in Singapore's Built Environment sector. This is a progressive shift away from the traditional lump sum contracting model that is common in the industry today,' he says. Under this arrangement, contractors are reimbursed for actual costs up to an agreed ceiling, with cost savings shared between the developer and builder. This encourages continuous innovation, joint problem-solving, and aligned incentives towards delivering better outcomes. 'When completed, the new Comcentre will not only be a showcase of future-ready infrastructure but also a model of how sustainability, technology and collaboration can come together to redefine and transform our built environment for future generations to come,' adds Chee. As at 12pm, shares in Singtel are trading 6 cents higher or 1.54% up at $3.96. 8% y-o-y to $8.2 mil Singtel's enhanced connectivity solution to support enterprises' global IoT deployment DBS raises Singtel's TP to $4.58, says telco's core value could increase by 180% Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World Get in-depth insights from our expert contributors, and dive into financial and economic trends Follow the market issue situation with our daily updates Or want more Lifestyle and Passion stories? Click hereError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
09-07-2025
- Business
- CNA
New Singtel headquarters to feature 20,000 sq m of retail and lifestyle space
SINGAPORE: Singtel's new Comcentre headquarters is expected to add about 20,000 sq m of lifestyle and retail space to the Orchard Road precinct. Set to be completed in 2028, the new building at its Exeter Road site will feature a sheltered arcade, the biggest elevated urban park in Singapore and a pet-friendly area. The S$3 billion (US$2.3 billion) redevelopment will comprise two 20-storey towers with a total gross floor area of more than 110,000 sq m. The first few floors will be open to the public with amenities including a gym, auditorium, medical centre, eateries and retail outlets. Meanwhile, 80 per cent of the space will be dedicated to Grade A offices - the highest quality of office space available. Singtel is the project's co-developer and anchor tenant, occupying 30 per cent of the space. Its new flagship store will also be situated there. An underground walkway will link Devonshire Road to Killiney Road and Exeter Road. Minister for National Development Chee Hong Tat said on Tuesday (Jul 8) that the redevelopment of the Comcentre is expected to invigorate the surrounding area and provide more amenities. 'The revitalised Comcentre will serve as a vibrant community hub with new public spaces and improved connectivity, bringing people from all walks of life together, supporting local businesses,' he said during a groundbreaking event. Singtel Group CEO Yuen Kuan Moon said the centre integrates 5G+ network slicing technology and smart building infrastructure. '(This creates) a place … for businesses to use the latest technologies to develop new products and solutions and thrive,' he added. 'Overall, it will be a state-of-the-art technology building for the future.' GREEN BUILDING Singtel's Comcentre started operations as the telco's headquarters in 1979, and its redevelopment was announced in 2022. A joint venture between Singtel and Australian developer Lendlease, the new Comcentre is set to be Singapore's first carbon-neutral commercial development. Every phase, from design to construction to day-to-day operations, is targeted at reducing carbon emissions. The project aims to achieve a 70 per cent improvement in energy efficiency compared to its 2005 baselines. It will also generate 1,000 megawatt-hours of renewable energy on-site annually from green technologies such as solar panels. Lush greenery will feature on the ground floor, at an open terrace on the fourth floor as well as the rooftop. 'As we work towards realising Singapore's vision for more ambitious sustainability standards in the built environment, I hope the Comcentre can serve as a shining example of how commercial success and environmental sustainability can go hand-in-hand,' said Mr Chee. The centre is also on track to be the first in Asia to achieve three major green-building certifications. Mr Tony Lombardo, Lendlease Group's CEO and managing director, said that 90 per cent of material from the demolished building will be recycled. He said the project 'not only redefines the workplace, but also sets a new benchmark for sustainable and connected living in Singapore and beyond.' Building and Construction Authority CEO Kelvin Wong hailed the project as a milestone on the sustainability front. 'In the Singapore green building master plan, we have goals for 80 per cent of buildings to achieve super low energy as well as 80 per cent (improvement in) energy efficiency by 2030,' he said. 'This project helps us achieve new steps and progress towards those goals.'
Business Times
08-07-2025
- Business
- Business Times
Singtel, Lendlease break ground on new S$3 billion Comcentre
[SINGAPORE] Singtel and Lendlease broke ground on Tuesday (Jul 8) for what will be the telco's new Comcentre headquarters on its former site on Exeter Road. The building, being redeveloped at the cost of S$3 billion, will be the largest Grade-A office space in the Orchard Road precinct, taking up 110,000 square metres (sq m). The previous Comcentre had a gross floor area of 105,371 sq m. Singtel will be the anchor tenant, occupying 30 per cent of the total development area. Slated for completion in 2028, the project will have two 20-storey Grade-A office towers, covering 81,960 sq m in gross floor area. It will also feature 20,000 sq m of lifestyle and retail spaces, including Singtel's new flagship store, food and beverage (F&B) outlets, medical suites, a gym and an auditorium. The total net lettable space available for lease is about 54,000 sq m. The Business Times understands there has been 'strong interest from a broad spectrum of companies', though official marketing and leasing starts only in 2026. Singtel employees who used to work in the monolithic Orchard Road area landmark were relocated to SingPost Centre and other Singtel premises across the island in 2024, ahead of the demolition works. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The new Comcentre coming up on the site will be open to the surrounding neighbourhood with a large sheltered walkway and a pedestrian thoroughfare lined with retail and F&B outlets. It will be connected to Somerset MRT station through a sheltered, above-ground link and another link at B2 level. Designed by New York-based architecture firm Kohn Pedersen Fox and landscape architect Field Operations, the project will feature the largest elevated urban park in central Singapore, at nearly a hectare in size. At the groundbreaking ceremony of Singtel's new Comcentre were Singtel's group chief executive Yuen Kuan Moon, Australian High Commissioner to Singapore Allaster Cox, Minister for National Development Chee Hong Tat and Lendlease's group chief executive Tony Lombardo. The new Comcentre is set to be Singapore's first end-to-end carbon neutral development. PHOTO: SINGTEL, LENDLEASE Minister for National Development Chee Hong Tat, speaking at the groundbreaking ceremony, said: 'The redevelopment of the Comcentre is expected to enliven the Somerset area, and provide new amenities for the surrounding community.' He added: 'The revitalised Comcentre will serve as a vibrant community hub with new public spaces and improved connectivity – bringing people from all walks of life together, supporting local businesses, and contributing to a more inclusive and dynamic Orchard Road for all Singaporeans.' The redevelopment was announced in 2022 when Singtel partially divested Comcentre to a joint venture (JV) company with Lendlease, with an eye on maximising the site's potential, increasing building efficiency, unlocking value from the property, and strengthening Singtel's financial position. Singtel holds 51 per cent of the JV, with Lendlease owning 49 per cent. Singtel's net profit for FY2025 rose to S$4.02 billion, up from S$795 million the year before, driven mainly by a net exceptional gain of S$1.55 billion from the partial divestment of Comcentre. The new development will incorporate AI-enabled robotics, smart-building infrastructure that adapts to its environment, and technology-enabled spaces designed for work and retail. It is on track to becoming Singapore's first development that is end-to-end carbon-neutral, encompassing its design, construction and operations. Measures include using low-carbon concrete and steel, and reusing 40 per cent of crushed concrete waste from existing structures. The project is also expected to earn three major green-building certifications. Minister Chee highlighted the use of a different contracting model, under which contractors are paid for the actual costs up to a fixed limit, with costs savings shared between developer and builder. Digital technology will streamline workflows, improve teamwork and boost efficiency throughout the project. Advanced construction methods, such as robotic installation system for elevators, are expected to reduce on-site labour by up to 30 per cent and speed up project completion by up to 20 per cent.
Business Times
30-06-2025
- Business
- Business Times
Daily Debrief: What Happened Today (Jun 30)
Stories you might have missed First train for JB-Singapore Rapid Transit System unveiled; service to start by December 2026 First China-made train for the cross-border rail system to be tested in Singapore, ahead of preparation for passenger service. Anti-scam law that lets police freeze potential victims' bank accounts to kick in on Jul 1: MHA Officers may order banks to restrict a potential scam target's banking activities as a 'last resort' once other options have been exhausted. Tighten en bloc rules, encourage reuse so more private housing blocks stand for over 50 years BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Apply lessons from Golden Mile Singapore project. Singtel CEO Yuen Kuan Moon's pay up 16.8% at S$8.2 million; S$2.8 billion cash holdings to help group navigate challenges It sees IT services company NCS and data centre Nxera as key growth engines. Singapore electricity, gas prices to fall for July to September on lower fuel costs electricity tariffs before goods and service tax (GST) for households will fall by 2.3 per cent or 0.65 cent per kilowatt-hour (kWh) from the prior quarter amid lower energy costs.
Straits Times
30-06-2025
- Business
- Straits Times
Singtel CEO's pay rises over 16% in FY2025 to $8.2m on the back of increased profits
Singtel CEO Yuen Kuan Moon's remuneration consisted of $1.3 million in salary, $77,808 in benefits and a cash bonus of $2.2 million. PHOTOS: SINGTEL, ST FILE Singtel CEO's pay rises over 16% in FY2025 to $8.2m on the back of increased profits SINGAPORE - Singtel chief executive officer Yuen Kuan Moon received a total remuneration of $8.2 million for the 2025 financial year ended March 31, an increase of over 16 per cent from his pay of $7 million in the 2024 financial year. This was a result of the group's strong performance over FY2025, said the telco's annual report out on June 30. Singtel saw its net profit jump over 400 per cent to $4.02 billion, up from $795 million a year ago. This was boosted by a one-time exceptional gain of $1.3 billion from the partial divestment of the group's Comcentre headquarters. Singtel had partnered Lendlease to redevelop the property, a project that was first announced in 2022. Underlying net profit increased by 9 per cent to $2.47 billion, underpinned by growth in the group's businesses and regional associates. Singtel said it will pay a total ordinary dividend of 17 cents for FY2025, a 13 per cent increase over the 15 cents the year before. This marks a strong start to the Singtel28 plan, Singtel said. The plan is a strategic reset led by Mr Yuen in 2024, designed to lift business performance and capitalise on growth trends to deliver sustained value for shareholders. Mr Yuen's remuneration consisted of $1.3 million in salary, $77,808 in benefits and a cash bonus of $2.2 million. He also received a restricted share award of $2.2 million and performance share award of $2.4 million. Singtel said in the report: 'Mr Yuen has been instrumental in leading one of Singtel's most ambitious transformations to reposition the group for growth amid accelerated digitalisation and disruption in the telecommunications industry. 'The strategic reset he introduced at the start of his tenure has altered the fundamental make-up of the group – redefining it along the lines of connectivity, digital services and digital infrastructure.' Mr Yuen was appointed group CEO in 2021. He had run Singtel's consumer business in Singapore as CEO since 2012. Singtel added that under Mr Yuen, the consumer and enterprise businesses in Singapore and Australia were integrated. The digital services under NCS were also expanded and a new regional data centre business called Nxera was created. 'Under his watch, Singtel established 5G market leadership which serves to underpin the growth of the group's existing and new businesses across Singapore and the region,' it said. In a joint address in the report, Mr Yuen and chairman Lee Theng Kiat said that Singtel is embarking on a three-year value realisation share buyback programme of up to $2 billion until FY2028 to return excess capital to shareholders. They added that Singtel's priority is to maintain growth momentum across its businesses, amid global uncertainty. 'The volatility in US tariff policy has resulted in unusual financial market fluctuations and an unpredictable economic narrative,' they said. 'As we are in the services sector, tariff threats, as they now stand, have limited impact on our business, although the trade conflict could see slower economic growth and softer consumer and business sentiment.' They added that Singtel has to stay adaptable and know when to shift course as business sentiment softens. Singtel is also staying its course with its sustainability goals, despite pullback in other countries, such as US President Donald Trump withdrawing the US from the Paris climate deal in January. Mr Yuen and Mr Lee said: 'Although politics has cast a shadow over sustainability in some parts of the world, we remain committed to sustainability and advancing the climate change targets we have set ourselves.' Singtel has reduced its Scope 1 and 2 carbon emissions by 14 per cent in the past year. Scope 1 emissions refer to direct emissions incurred by a company, say, from its facilities or transport vehicles, while Scope 2 refers to indirect emissions such as the electricity or heating it buys from power-generation companies. The two Singtel chiefs said : 'We recognise that achieving our net-zero goal by 2045 requires collective action across the value chain and have been proactively collaborating with various organisations to keep moving the needle on this front.' To help track its scope 3 emissions, Singtel also worked with the Singapore Business Federation and other partners to develop Singapore's first Emissions Factors Registry. The registry provides a centralised platform for industry-specific emissions data, which will enable businesses to measure and report their carbon footprint with greater accuracy. Scope 3 emissions refer to indirect greenhouse gas emissions incurred by a company as part of its value chain, such as business travel by employees, the use of its sold products or the emissions from its purchased goods and services. Singtel also launched a responsible procurement policy, which means supporting trade association SGTech with its work in helping small and medium-sized enterprises with their carbon management and reporting. Singtel shares fell by 0.8 per cent to $3.81 as at 2.30pm on June 30, down from its previous close of $3.84. Sue-Ann Tan is a business correspondent at The Straits Times covering capital markets and sustainable finance. Join ST's Telegram channel and get the latest breaking news delivered to you.
