Motivated by stronger Singapore dollar, Singaporean holidaymakers opting for better hotels, unique destinations
Singaporeans are opting for better hotels and unique destinations like Bhutan this June holidays, motivated by a strong Singapore dollar that stretches their budget. Travel agencies say that there's also been a shift towards what they call purposeful travel, with families prioritising meaningful experiences.
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CNA
33 minutes ago
- CNA
5 Singapore business leaders from AI to artisanal coffee share their daily rituals for success
Andrew Ing steers hospitality innovation atop Singapore's skyline. Pamela Chng brews purpose into every cup. Jonathan Wong designs flexible futures for modern urbanites. Anna Haotanto champions women's health with fierce empathy. And Su Yin Anand navigates digital transformation with the prowess of a former shipping industry wunderkind. Although they helm vastly different industries – from AI to artisanal coffee – these five leaders begin their days not with urgency, but with presence. A moment of stillness. A breath of gratitude. A check-in with self. Their morning rituals are not performative, but restorative, anchoring them before the storm of decision-making begins. And while their careers once demanded a relentless pace and continuous output, they've each unlearned the cult of 'busy'. Their new markers of success? Focus over frenzy. Sleep over self-sacrifice. Slowness as strategy. In their own words, they describe how clarity, not chaos, drives meaningful impact. ANDREW ING, 58, COO OF OUE RESTAURANTS A stalwart of Singapore's F&B and nightlife scene, Andrew Ing is the COO of OUE Restaurants, where he orchestrates immersive dining concepts like HighHouse and NOVA. With decades of hospitality experience, the family man blends sharp operational acumen with creative flair – heightening guest experiences and championing talent across kitchens and clubs. Is there a breakfast or beverage ritual you swear by? I don't eat breakfast; I just drink a kopi o kosong. My first meal of the day is lunch – a habit carried over from my nightlife days when I would go into the office at 11am (usually hungover). How do you take care of your physical and mental well-being amid your hectic schedule? I love walking at a brisk pace and I never look at my phone when I walk. Lunchtime is great for walking, and sometimes in the afternoon, if I have been in the office most of the day, I will walk around the block to get some fresh air. What belief or mindset has been most essential to your success? What I call the hospitality mindset – taking care of both your customers as well as your employees. If you take care of your people, they will take care of your business. This is the essence of servant leadership. How has your definition of success evolved over the years? I'm not sure I ever had a definition of success in the past. But for now, it's ensuring the happiness and well-being of my family and their future. I've never been someone who needs to buy expensive watches or drive expensive cars. I'm quite a simple person. Is there a book, podcast, or mentor that has significantly influenced how you live or lead? Danny Meyer's Setting The Table is a great book that I swear by. He is probably the most famous restaurateur in the US (Union Square Cafe, Shake Shack). Now he's looking at ways to transform the industry. I've had the privilege of attending his three-day workshop in New York in 2018. Do you have any daily or weekly wellness rituals? Drinking and dancing every Friday night at HighHouse and Nova – I need my alcohol and my house music. Pamela Chng is the quietly radical force behind Bettr Group, a social enterprise using coffee as a catalyst for change. Through barista training, emotional empowerment, and inclusive employment, she uplifts marginalised women and youth – proving that business can be both bold and deeply human. Is there a breakfast or beverage ritual you swear by? Coffee is my anchor. Always brewed with care – usually a double shot oat cappuccino or single-origin filter, and enjoyed in peace. Once I'm done, I'm ready to meet the day's demands. How do you disconnect from work, or is it a blurred line for you? Work and life are about integration for me. I have a lot of fun in many aspects of my work, and every day is different – I could be teaching, tasting and geeking out over coffee, having one-to-ones with a youth, or travelling the world visiting coffee farms and shows. How do you take care of your physical and mental well-being amid your hectic schedule? By designing systems around energy, not time. I try to use breaks wisely, with short walks, stretching, even sitting with (another) cup of coffee. I also schedule Do Not Disturb blocks throughout the week so I have thinking time and also the space to respond to the needs of my team and clients. Is there a book, podcast, or mentor that has significantly influenced how you live or lead? Building Social Business by Muhammad Yunus shaped how I approached entrepreneurship – it reframed business as a tool for solving human problems, not just maximising profit. It gave me the starting language and framework to build Bettr over the past 14 years, where purpose and profit are not in conflict but in collaboration. If someone shadowed you for a day, what habit or routine would surprise them most? Probably how often I pause. Between meetings. Before decisions. Even before speaking. I believe in thinking breaks, not just coffee breaks. I often pace, sketch ideas on paper, whiteboards, or just sit outside for five minutes. Those pauses centre me and help create clarity. JONATHAN WONG, 38, CEO APAC OF HABYT Jonathan Wong, a father of two, is the APAC CEO of housing solution provider Habyt (formerly Hmlet). He is leading the charge in reimagining urban living across Asia. With past stints at Uber and CloudKitchens, he thrives on scaling bold ideas. Now, he's bringing that ambition to co-living, creating spaces that are flexible, connected, and built for the modern nomad. What's the first thing you do when you wake up? I'm usually woken up by my two boys – ages five and one – at around 6am. The first part of my day is all about them: Getting them dressed, prepping breakfast, and making sure bags are packed. Do you follow a specific morning routine or is it more intuitive? Three rituals anchor my mornings. First, while still in bed, I do a few rounds of 4-7-8 breathing – inhale for four seconds, hold for seven, and exhale for eight. It's a simple technique, but incredibly effective to set my nervous system up and promote a mindset that's calm and intentional, instead of reactive. Second, coffee. A strong, hot black coffee is non-negotiable. I pair it with a set of brain games [like Wordle and Spangram]. They're a great way to warm up my brain in a non-numeric way – especially since most of my day is very numbers-heavy. Third, exercise. I strength train every other morning in short, focused sessions of around 30 minutes. It's definitely harder as I get older, but the consistency has paid off in both energy levels and mental clarity. Have you ever had to 'unlearn' a habit that was once considered a sign of productivity? Busy is not always better. I used to think that long days, back-to-back meetings, and a full calendar were signs of being productive. But I've come to realise that true productivity is sometimes found in stillness. What's one guilty pleasure that plays a role in your success? It's a little embarrassing to admit, but I'm a casual (but devoted) player of mobile games like Archero or They're silly, simple, and engineered for dopamine hits – but I've found they help me decompress from the intensity of the day. ANNA HAOTANTO, 40, FOUNDER OF ZORA HEALTH Finance whiz-turned-healthtech founder, Anna Haotanto established Zora Health to make fertility care accessible and stigma-free. She is known for empowering women through platforms like The New Savvy, and now channels her firepower into a personal mission – bridging science, empathy and digital innovation. What's the first thing you do when you wake up? I start each morning with a few moments of quiet gratitude. Before the demands of the day begin, I take a deep breath, find stillness, and reflect on the simple blessings around me. From there, I drink water infused with probiotics. I also aim for at least a 30-minute walk outdoors. That walk is sacred – it gives me space to clear my mind, reconnect with myself, and step into the day feeling aligned and focused. Do you have any daily or weekly wellness rituals? I walk a lot. It's my form of active meditation. Weekly, I try to schedule two to three workouts, even short ones. My body has gone through a lot – multiple surgeries, autoimmune issues – so these rituals help me stay connected to it with care. How has your definition of success evolved over the years? In my 20s, success meant earning enough to achieve financial independence. Today, it's about the depth of relationships, meaningful impact, and inner peace. With Zora, I'm genuinely surprised – and grateful – to have found something I truly love and care deeply about. We have the opportunity to change lives in a real and lasting way. Are there specific rituals you follow to prepare for important meetings, pitches or launches? Before every major pitch or speaking engagement, I script out my emotional intention – not just what I want to say, but how I wish the other person to feel. I also take a few moments of silence for myself to calm down, sometimes with visualisation and deep breathing. How do you mark milestones, victories, or even setbacks in your journey? Reading and writing have always been my outlets. Whether it's a personal win or a painful lesson, I reflect on it by writing. When the win is big, I celebrate with a quiet dinner, usually with my boyfriend or close friends. SU YIN ANAND, HEAD OF STRATEGY & TRANSFORMATION AT IBM ASEAN Once the youngest Asian woman partner at a maritime law firm, Su Yin Anand has since charted bold new waters, including co-founding a boutique shipping consultancy. Now leading digital transformation at IBM ASEAN, she helps businesses harness AI with fearless precision and future-facing ambition. What's the first thing you do when you wake up? I stretch and give thanks for waking up to another day. It sounds morbid, but I don't take for granted that I'll wake up every day after going to bed. Each day is a gift that I'm grateful for. Do you follow a specific morning routine or is it more intuitive? When I was younger, my mornings used to be intuitive and hectic. But now I have a routine. It starts with giving thanks, followed by a cup each of coffee and honey lemon water in my garden, while reading the news and playing with my two cats – Lulu and Lemon. How do you take care of your physical and mental well-being amid your hectic schedule? I adopt a philosophy which I have coined 'RISE UP'. This entails finding time during the day to: Reflect Invest – investing time in myself, such as learning one new thing a day Sleep – I try to get at least seven hours a day Exercise In order to: Unleash Potential I find that when I incorporate each element of RISE into my daily schedule, I have balance and clarity of thought, which is important. I have also learnt to say no to work or social engagements, and not succumb to FOMO. How has your definition of success evolved over the years? It used to be about hitting goals – being the youngest partner, closing a big deal, starting something new. These days, success feels more like creating space for others and making sure what I build has lasting impact. Do you have a personal mantra, quote, or philosophy that guides your day-to-day life? It's very millennial – 'YOLO'! I have one life to live – live it well; live it to the fullest; live by my own rules; focus on doing the right things, and good things will happen.
Business Times
33 minutes ago
- Business Times
MilikiRumah sets sights on US$50 million equity fund to turn the key on affordable housing expansion in Indonesia
[JAKARTA] Proptech startup MilikiRumah is aiming to raise a US$50 million private equity fund to scale its rent-to-own housing programme in the country, targeting segments of the population typically excluded from conventional mortgage financing. With early backing from regulated asset managers – including Ruifeng Wealth Management, Tembusu Partners and Trigger Asset Management – the company kicked off its fundraising efforts with a planned first close of US$10 million in the third quarter of this year. MilikiRumah aims to raise the remaining capital in successive US$10 million tranches over the next two years, enabling it to gradually scale housing development under its rent-to-own model. Co-founder and chief executive Winston Lee told The Business Times that the funds will be used to develop build-to-order landed homes in collaboration with local real estate developers. The company aims to bridge the financing gap for consumers often excluded from traditional mortgage systems, such as freelancers, influencers, and gig workers. They typically lack stable incomes or have high debt-to-income ratios, making them less appealing to banks. 'We see ourselves as credit doctors. We segment our customers and provide tailored support; many are middle-class Indonesians, families working hard to buy their first home,' noted Lee. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up MilikiRumah is owned and operated by Rightkey Capital, a Singapore-registered company. The venture was founded by former PropertyGuru executive Lee, together with co-founder Marine Novita, who also previously held a role at the property platform. The company currently has a pipeline of 500 hectares of land spread across seven to 10 parcels – mostly in Greater Jakarta – that can accommodate up to 45,000 homes. However, fully developing the sites would require between US$100 million and US$150 million in funding. 'With just the initial US$10 million, we can already build around 2,700 landed homes,' Lee pointed out. 'The speed at which we hit our 45,000-home target really depends on how quickly we can raise the remaining capital.' MilikiRumah offers a rent-to-own model that allows prospective homebuyers to move into a property while gradually building their financial eligibility. During an initial period of six to 12 months, tenants live in the home and make regular payments, helping them establish a credible payment history. If they meet the required criteria by the end of the term, a partnering bank steps in to provide mortgage financing, enabling the tenant to formally purchase the home. The company has established partnerships with Bank Tabungan Negara (BTN), Indonesia's largest state-owned mortgage lender, and Bank Syariah Indonesia. It is also in the process of finalising collaborations with BTN Syariah and Permata Bank to further expand its financing network. MilikiRumah has entered a joint venture with local developer Badak Perkasa Group to develop a residential complex in Tangerang – an hour's drive from Jakarta. Under its rent-to-own model, tenants pay an average of 4.8 million rupiah (S$378) per month. These payments are divided into rent and savings, with the savings component gradually building equity towards a 10 per cent down payment. This structured approach is designed to help tenants eventually qualify for a mortgage covering the remaining 90 per cent of the home's value. As at the second quarter, the company has launched 95 homes using internal equity. It is aiming for 30 bookings by the end of June, with a target of 60 by July or August. Lee said that the company's research involving 300 underbanked prospective buyers showed that 90 per cent are expected to qualify for a bank loan after building up a 10 per cent home equity deposit through the programme. He added that the fund's dual mission – delivering both financial returns and social impact – has resonated with potential limited partners, especially given its projected annual internal rate of return of 20 per cent. 'What sets us apart from traditional private equity real estate funds is that we're not just building homes, we're building communities.' Founded in September 2024, the company has closed its seed round with S$2 million in funding. It was led by Singapore-based family office Ruifeng Wealth, with participation from angel investors including PropertyGuru co-founder Jani Rautiainen and PropertyGuru Singapore country head Tan Tee Khoon. Lee said that the company is aiming for Series A company funding targeting to close in the first quarter of 2026. A market in need Indonesia is facing a severe housing shortage, with the backlog reaching an estimated 15 million units as at 2025, according to official data. To address this gap, the government is exploring new financing strategies, including the possible issuance of bonds to support low-cost housing initiatives. The challenge is compounded by the fact that around 83 million people, or 58 per cent of the workforce as at August 2024, are employed in the informal sector, making it more difficult for many to access traditional housing finance. Novita indicated that the strongest housing demand falls in the 300 million to 700 million rupiah price range – a market segment that accounts for roughly 70 per cent of national demand but remains underserved by financial institutions. 'There's a nationwide disconnect between where the housing need is and where financing is actually available,' she said. 'It's not just in Jakarta – it extends across Java and beyond.' While MilikiRumah remains focused on the Indonesian market for now, the company is beginning to see growing interest beyond its borders. Novita noted that the rent-to-own model could be relevant in other major South-east Asian cities such as Bangkok and Manila, where challenges around home affordability and mortgage accessibility are similarly pronounced. 'In Bangkok, for example, developers have told us that 60 to 70 per cent of entry-level mortgage applications are rejected,' she added. 'We have had early discussions with several contacts in Thailand who are curious about how our model might work in their context.' MilikiRumah's rent-to-own scheme is not the first of its kind in Indonesia. Previously, state-owned housing finance company Sarana Multigriya Finansial partnered fellow state developer Adhi Commuter Properti to offer residential areas integrated with public transportation hubs. Challenges remain Still, the business is not without challenges. Dian Safitri, a senior property agent, said that rent-to-own schemes could help ease Indonesia's housing shortage. However, one major hurdle is the tax system, which treats rental and sale transactions separately, raising the risk of double taxation. 'This drives up the final price of the unit, making it more expensive for consumers, who ultimately bear the heavier financial burden,' she explained. Nailul Huda, director of economics at the Centre of Economic and Law Studies, said that rising property prices, especially in areas surrounding Jakarta, have made it increasingly difficult for informal workers to afford homes outside government-subsidised schemes. 'With layoffs on the rise and ongoing economic uncertainty, the purchasing power of informal workers to buy homes continues to decline,' he noted.
Business Times
44 minutes ago
- Business Times
Livingstone Health's strategy rooted in patient care and steady growth
[SINGAPORE] Livingstone Health is not in a rush to grow. Much like the lithops – a hardy succulent also known as a living stone, from which the company takes its name – the Singapore-based healthcare group is taking a slow and steady approach to expansion. The Catalist-listed company, which went public in 2021, operates 20 clinics in the Republic, staffed by 22 medical specialists and practitioners. It also runs a health-screening centre, two medical aesthetics clinics, a podiatry clinic, and provides healthcare consultancy services within the region. 'We're at a stage where we don't want to grow for the sake of growing,' said chief commercial officer Dax Ng in an interview with The Business Times, alongside chief executive officer Wilson Tay. Both are executive directors on Livingstone's board. While rapid expansion is often seen as a way to get investors excited, Dr Tay believes the group's philosophy is better captured by its botanical namesake. 'No doubt, the growth, if you look at those succulents, can be a little bit slow,' he said. 'But given the correct conditions, they can flourish and flower.' A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up Indeed, Livingstone's pace of growth has been deliberate. After listing in 2021, it completed its first major acquisition just three years later. It acquired the remaining 49 per cent of Phoenix Medical Group (PMG) in 2024, after having first taken a 51 per cent stake in 2019. The acquisition of the healthcare provider, which has seven clinics across Singapore, has been both an 'accretive investment' and also a way for Livingstone to grow its primary healthcare segment through PMG's network. Livingstone's pace also reflects lessons from its early years as a listed company. Ng pointed to the importance of alignment and communication, especially when working with a relatively young team with an average age of around 40. 'A lot of times when you try to work in a team, people have thoughts and ideas that they try to keep to themselves,' he said. 'Over time, that's not healthy.' He added: 'When you go through experiences together with certain people, you realise there are a lot more things you can achieve. Once you have that trust and go through hardship together, you can have tougher conversations, which become easier because they're (more focused and constructive).' That trust enabled more open discussions on practical issues, including how to streamline operating expenses. The results showed up in its financial statement released on May 29: Livingstone swung back to profitability with a net profit of S$0.4 million for the second half-year ended Mar 31, reversing a net loss of S$2.9 million a year prior. Livingstone closed at S$0.023 on Friday (Jun 13), with a market capitalisation of around S$14.1 million. Recognition, relationships and rising needs Even without aggressive expansion, Livingstone caught the attention of RHB Singapore, which included it in the bank's Top 20 Small Cap Jewels 2025 report in May – the only healthcare group on the list. RHB's investment case for Livingstone was that it 'offers exposure to the ageing population and rising affluent trends in Singapore'. The bank also noted that Livingstone's performance is recovering, and anticipates its net profit to be on an uptrend moving forward. Ng called the recognition 'a good add to the group's profile' and noted that it came as a surprise. Dr Tay acknowledged that smaller healthcare companies such as Livingstone may be perceived as less capable than larger players. But he argued that in healthcare, value is not purely about scale. 'Of course, larger players may be able to manage some costs better – like lab tests or imaging,' he said. 'But it doesn't mean smaller healthcare groups can't deliver care that's meaningful. What matters most is the patient-doctor relationship.' That view is core to Livingstone's approach. Ng said the group's ethos is to ensure that patients who come through its general practitioner (GP) services are well taken care of – from seeing the right specialists, to recovery and follow-up if needed. To that end, it maintains a patient-care team that coordinates referrals between GPs and specialists, and works only with trusted external doctors vetted by its internal panel. Ng also pointed to the 'eminent concern' surrounding Singapore's ageing population – a demographic shift that Dr Tay said will accelerate over the next 10 to 20 years, and drive rising demand for healthcare services. To prepare for this, Livingstone has been using patient data to track rising incidences of chronic conditions such as diabetes. In response, the group added an endocrinologist – a specialist that treats diseases such as diabetes, as well as other hormonal and metabolic disorders – to its team in June. Dr Tay said Livingstone 'sees value' in having specialist disciplines that focus on managing chronic conditions, especially as the population ages, as it reflects on-the-ground needs. Looking outward In its latest financial update, Livingstone also outlined plans to diversify its revenue streams, including efforts to attract more international patients to its specialist healthcare segment through business development and marketing initiatives. When asked if this meant a push into medical tourism, Ng demurred, and suggested that the sector may be 'dying' in Singapore due to cost pressures and competition abroad. While the team recognises that Livingstone has limited control over the broader healthcare landscape, Ng believes the group can compete on quality. 'We can attract the right medical talent, and groom them with the right patient ethos and care standards,' he said. 'From there, we can build a brand to attract good international patients who are still willing to pay the extra dollar for quality.' On the future of healthcare, Dr Tay noted that even as the sector increasingly looks to technology for efficiency, the human element remains irreplaceable. 'We treat the patients, not just the disease,' he said. 'We treat their emotions and we (seek) to understand them…Things that a computer cannot do.' 'Medicine is always a science, but, more so, it is an art.'
