Latest news with #Singapore-headquartered
Fashion Value Chain
9 hours ago
- Business
- Fashion Value Chain
DTG and DTF Printing Poised for Major Growth Globally
Direct-to-garment (DTG) and direct-to-film (DTF) digital textile printing technologies are entering a phase of accelerated global growth, according to a new 21-page report titled 'Digital printing direct to fabrics and garments: developments and growth prospects' by Textiles Intelligence. These methods are transforming how fashion is produced and sold—especially in the fast fashion and e-commerce sectors. Driven by advancements in automation, ink formulations, and printhead technology, digital textile printing now offers extensive flexibility, customization, and fast turnaround capabilities. Unlike traditional processes, newer digital printing machines often eliminate the need for pre- or post-processing equipment and specialist operators, reducing environmental impact while enhancing efficiency. Leading machine manufacturers in this space include Brother, ColorJet, EFI Reggiani, Epson, Kornit Digital, Mimaki, and Sawgrass. DTG uses inkjet technology to apply vivid, high-resolution designs directly onto garments. DTF, meanwhile, prints on polyester film before transferring the design onto fabric—ideal for producing bold and durable graphics. Both technologies support rapid design iteration and on-demand production, perfectly suited to e-commerce platforms and fast fashion supply chains. Notably, DTF printing has seen explosive adoption, with an estimated 7 billion items printed using DTF in 2024 alone. It's also reported that half of all T-shirts globally are now decorated using DTF. Much of this surge is driven by high investment in China. Shein, the Singapore-headquartered fast fashion giant, is a major innovator in the DTF space, having developed two proprietary techniques: Digital Thermal Transfer Printing Cool Transfer Denim Printing – which reportedly reduces water usage by 70% compared to traditional denim washing methods. As sustainability, speed, and scalability become key to apparel manufacturing, DTG and DTF are quickly becoming essential for modern fashion production.
Business Times
2 days ago
- Business
- Business Times
Stocks to watch: SIA Engineering, SingPost, DFI Retail Group, Aztech Global, HPH Trust
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Jul 23): SIA Engineering : The Singapore-headquartered aircraft maintenance provider on Tuesday reported a net profit of S$42.9 million for Q1 ended Jun 30, up 29.2 per cent from S$33.2 million in the same period a year before. Its revenue for Q1 FY2026 was at S$358.4 million, 33.4 per cent higher than the S$268.7 million in Q1 FY2025. The group's expenditure rose 'at a slightly slower rate' of 32 per cent to S$353.3 million, mainly due to higher material and manpower costs. Shares of SIA Engineering closed 0.9 per cent or S$0.03 higher at S$3.35, before the results were released. Singapore Post (SingPost) : The national postal service provider said on Tuesday that it has sold its entire freight forwarding business Famous Holdings for approximately S$177.9 million. The divestment resulted in an estimated realised gain on disposal of S$10.5 million and around S$104 million in cash for the group. Shares of SingPost ended on Tuesday 0.8 per cent or S$0.005 lower at S$0.64. DFI Retail Group : The supermarket and retail store operator's announced on Tuesday that its underlying profit rose 38.9 per cent to US$105 million for the first half ended Jun 30, from US$75.6 million in the same year ago period. This comes despite half-year revenue inching down to US$4.39 billion from US$4.4 billion in the same period a year prior. The counter ended on Tuesday 1 per cent or US$0.03 higher at US$3.16. Aztech Global : The company's net profit tumbled 65.5 per cent to S$16.1 million from S$46.7 million, for H1 ended Jun 30. Revenue also declined by 50.3 per cent to S$185.4 million in H1 2025, from S$373.2 million in H1 2024, said the company on Tuesday. The weaker net profit and revenue performance was largely due to subdued customer demand, said the manufacturer. Earnings per share stood at S$0.0208 for the half year, down from S$0.0604 in H1 2024. Its shares closed at S$0.605 on Tuesday, up S$0.005 or 0.8 per cent. Hutchison Port Holdings (HPH) Trust : The container port business trust reported a distribution per unit of HK$0.05 for the first half ended Jun 30, unchanged from the same year-ago period. This was despite net profit surging 67.6 per cent to HK$265.1 million (S$43.3 million), from HK$158.1 million in H1 2024, the company said on Tuesday. The distribution will be paid out on or around Sep 19, after books closure on Jul 30. Units of HPH Trust closed 0.6 per cent or US$0.001 higher at US$0.184 on Tuesday.
Straits Times
4 days ago
- Business
- Straits Times
Crypto exchange Tokenize Xchange to shut down Singapore operations
Find out what's new on ST website and app. Tokenize Xchange founder and chief executive Hong Qi Yu declined to comment on why the firm was denied a licence by the MAS. SINGAPORE – Cryptocurrency exchange Tokenize Xchange will cease its operations here from September 30, just over a year after raising US$11.5 million (S$14.9 million) in funding and announcing plans to ramp up hiring. The Singapore-headquartered firm said on July 20 that it will shut down the business following the Monetary Authority of Singapore's (MAS) decision not to grant it a licence to offer digital payment token services here. Tokenize was previously operating under an exemption. The firm said it will shift its operations to Labuan, a federal territory in Malaysia, where it is in the process of acquiring a company that holds a Digital Financial Services License issued by the Labuan Financial Services Authority. The deal is expected to close by September 30. It will also seek regulatory approval from the Abu Dhabi Global Market, an international financial centre and free economic zone located in Abu Dhabi, the capital of the United Arab Emirates. Tokenize said all 15 of its employees in Singapore have been given notice and will leave the company by September 30. When contacted, Tokenize founder and chief executive Hong Qi Yu declined to comment on why the firm was denied a licence by the MAS. But he told The Straits Times on July 20 that Labuan will allow Tokenize to operate under a 'recognised regulatory framework tailored for cross-border digital asset services'. '(Labuan) also offers greater flexibility, tax efficiency, and access to international markets, supporting the platform's global growth ambitions,' he said. Tokenize said its Singapore customers can no longer buy or sell cryptocurrencies on its platform, and may only transfer their cryptocurrency holdings to other exchanges, where they can convert them to cash and make withdrawals. But users can continue to withdraw cash directly from the exchange based on the Singapore dollar value of each user's portfolio, which includes both fiat and cryptocurrency holdings This value, viewable in users' wallets, determines the withdrawal tier they are placed in under a phased schedule. Users with portfolios below $10,000 have been able to withdraw the cash portion of their holdings and transfer their cryptocurrencies to other exchanges since July 17. Those with portfolios between $10,000 and $99,999 may do so from August 1, while users with $100,000 and above can start from September 1. All withdrawals and transfers must be completed by September 30. ST has reached out to the MAS for comment. While Tokenize serves retail and institutional investors in Singapore and overseas - including Malaysia and Vietnam - its exit from the Republic comes after the MAS said on June 6 that digital token service providers targeting only overseas customers must be licensed by June 30 or cease operations . ST understands that the move has triggered an exodus of unlicensed cryptocurrency exchanges from Singapore. More than 500 staff - from management to junior levels across firms supporting the Republic's fintech ecosystem - are expected to relocate to the United Arab Emirates or Hong Kong, where regulators are seen to take a softer stance on digital assets.
New Paper
6 days ago
- Business
- New Paper
Certis scraps policy requiring staff on sick leave to share live location after union steps in
Security company Certis has agreed to stop asking officers to share their live location if they are not home while on medical leave, following intervention by the Union of Security Employees (USE). "Certis, which is unionised under USE, has agreed to do so, and there will be no location tracking of officers on medical leave," Ms Shirley Loo, USE's executive secretary said in response to queries from The Straits Times. The decision came days after Certis' medical leave policy drew criticism following an employee's tip-off to the media. The Singapore-headquartered company, which also has operations in Australia and Qatar, recently mandated that employees on medical leave must remain in their declared residential addresses in Singapore. If found to be elsewhere during unannounced house visits, they would be asked to share their live location via WhatsApp, or attend video calls, said a current officer in his letter to the media. Requesting anonymity, the officer said: "I personally experienced this policy when I was on sick leave and asked to share my live location... This created immense psychological stress and violated my right to privacy. I complied under fear of reprisal." The officer added that he was at his parents' home when asked to share his location. According to an internal employee memo seen by ST, two Certis officers were dismissed in April 2025 for "malingering", a term referring to the falsification of illness. Both officers were found to be overseas during a house visit, according to the memo. It added that Certis maintains a resolute stance when addressing disciplinary matters such as "falsification of records, misconduct, sleeping on duty and cases of absent without leave". In a statement to ST earlier on July 1, Certis clarified that these employees were not dismissed solely because they were not at home while on medical leave. "Termination of employment is decided upon the severity of an officer's misconduct, such as proven malingering, and only taken as a last resort after an extensive and fair process," said the company spokesperson. He added that Certis visits officers at their homes or the hospital only when they are on frequent or extended medical leave. "In rare instances, we have asked officers to share their live location, but this is only done where necessary to ensure their well-being, purely voluntary and is always handled with care for privacy," said the spokesperson. "The intent of such follow-ups is not punitive. Rather, it is to understand if our officers require further support and also to help manage our manpower planning more effectively," he added. Certis said the policy was also necessary to help maintain operational readiness and ensure fairness, especially as it faces challenges in recruiting and retaining officers. "The policy is not designed to penalise employees but to address instances of system misuse," the spokesperson said, adding that a very small number of front-line officers had been found to have misused their medical leave. "There have been situations where officers took MCs (medical certificates) to travel overseas. These irresponsible behaviours affect overall team resourcing and are unfair to colleagues who need to cover additional shifts," said the spokesperson. But Certis also acknowledged the need to work with its union partners to review its current processes, and confirmed that it would stop the controversial policy of requesting live locations from officers on medical leave. Ms Loo from USE, an affiliate of the National Trades Union Congress, said the union is working with Certis to improve its internal communication so that its policies are clearly explained to officers. She added that the union does not condone any abuse of medical leave, which undermines trust and affects other officers' well-being. "We will work with Certis to manage any alleged abuse of medical leave cases through fair and proper processes," she said. Both Certis and USE also agreed to co-organise regular monthly engagement sessions, providing a platform for ongoing dialogue with front-line officers. In response to ST's query, the Ministry of Manpower (MOM) on June 30 said there could be legitimate reasons why an employee might not be at home when ill, and this should not be taken as conclusive evidence of misconduct. The ministry said employers must not discourage their staff from taking sick leave, which is a statutory entitlement. Employees should be able to take sick leave to address their health needs and use it responsibly. MOM also encouraged employers to regularly engage their employees to address concerns and ensure that their policies are well-communicated. "This will help to build trust between employers and employees, and create a positive workplace culture."
Business Times
7 days ago
- Business
- Business Times
Warburg Pincus-backed data centre operator Princeton Digital bags US$1.3 billion from Stonepeak
[SINGAPORE] Warbug Pincus-backed Princeton Digital Group announced on Friday (Jul 18) that it secured US$1.3 billion in funding from Stonepeak, a New-York based alternative investment firm specialising in infrastructure and real assets. Princeton Digital is a Singapore-headquartered data centre operator, with a portfolio of more than 1.1 gigawatts across 20 data centres in Singapore, Japan, India, Indonesia, China and Malaysia. The news follows a recently announced US$1.2 billion debt financing, bringing the total capital raised in 2025 so far to US$2.5 billion. The investment will aid Princeton Digital in its next phase of growth, including greenfield development and mergers and acquisitions, said the company. Warburg Pincus will remain as the data centre operator's largest shareholder. Rangu Salgame, chairman, chief executive and co-founder of Princeton Digital, said: 'With this partnership, Princeton Digital is uniquely positioned to scale with speed, continue being the trusted provider to the world's most demanding hyperscalers, and further consolidate its position as a market leader in the region.' Stonepeak holds about US$73 billion of assets under management and has an office in Singapore. Warburg Pincus, a founding investor in Princeton Digital, said it was a 'strong validation' of the data centre operator's long-term strategy.
