DFI Retail to take over Starbucks business in Asia from Maxim’s Caterers

DFI will assume all of Maxim’s existing interests in the Starbucks-licensed business, which comprises a network of more than 1,100 coffee houses in Thailand, Hong Kong, Singapore, Vietnam, Cambodia, Macau and Laos.

https://bt.sg/9QFx

Frasers Property and Mitsubishi Estate to redevelop Valley Point and Frasers Suites Singapore

The development will comprise 407 luxury residential units and sky villas, 184 units of Frasers Suites serviced residences and dining, retail and lifestyle outlets.

https://bt.sg/6FX5

Blackstone’s Gautam Banerjee joins DBS board

He currently serves on the boards of Singtel and GIC.

https://bt.sg/sBxYV

SPH Media announces changes to leadership and board, including new managing director

SPH Media CEO Chan Yeng Kit is succeeding Khaw Boon Wan, who is retiring after five years as chairman of both SPH Media Trust and SPH Media Holdings.

https://bt.sg/LGnv

Car-leasing director jailed for almost 5 years over evasion of S$11.1 million in duties, taxes

Man Chee Wern did not pay S$1.2 million in duty and GST on 866 vehicles.

https://bt.sg/fnGP

Jacqueline Loh to step down as MAS deputy MD in senior leadership reshuffle

MAS announced senior leadership changes on Thursday (Oct 1), to take effect on Nov 1.

https://bt.sg/wUiNY

Three Coliwoo serviced-apartment properties in River Valley being sold for S$66.5 million

For the sale of the two properties directly held by Coliwoo, it expects to see estimated net proceeds of about S$18.7 million.

https://bt.sg/fUk5

Poor liquidity? Share 3-5 year plan with investors, Koh Boon Hwee urges listco chairs

“If the public doesn’t know what you are planning to do over the next three to five years, why would they buy your stock?” said the SGX chairman. “If you can’t tell the public what is going to happen to your company over the next three to five years, how can they tell?”

https://bt.sg/qBDC

Malaysia Budget 2027: PM Anwar faces cost-of-living and deficit test before election

Analysts expect more household aid, but costly fuel subsidies could leave Anwar with less room to spend.

https://bt.sg/eyAT

Start your day with BT ☕️:

Stock to watch: SGX https://bt.sg/ygdm

Top stories:
1. Asean: Malaysia’s F1 return: A low-cost second chance, possible Singapore boost https://bt.sg/Djg7

2. Property: Canberra Drive EC site draws crowd of 13 bids; top offer of S$825 psf ppr from Santarli-led JV sets record https://bt.sg/GGfu

3. Singapore: Nuclear fusion conference spotlights Singapore as hub for spin-offs, supply chain https://bt.sg/hW9s

Canberra Drive EC site draws crowd of 13 bids; top offer of S$825 psf ppr from Santarli-led JV sets record

This exceeds analysts' forecasts for the first land tender to test developers’ appetite for EC land since new housing rules kicked in.

https://bt.sg/Bgzr

Good business publications must provide trust, judgment and perspective: Jeffrey Siow

In the next 50 years, The Business Times has the chance to become an institution through which the world understands South-east Asia, says Minister for Transport and Second Minister for Finance Jeffrey Siow at BT’s 50th anniversary dinner.

https://bt.sg/kcgL

Malaysia’s F1 return: A low-cost second chance, possible Singapore boost

This could open the door to a permanent return for a Malaysian race.

https://bt.sg/uBuj

Pandora opens US$150 million Vietnam plant as Singapore hub drives Asia growth

The Vietnam facility comes online as the Danish jewellery giant turns to Asia for fresh growth, amid slowing momentum in North America and Europe, and continued weakness in China.

https://bt.sg/mmKV

Two army buddies, one ‘all-or-nothing’ bet on fruit-based beverage maker Doki Doki

From NS buddies to business partners — read about how Doki Doki's co-founders built a now-thriving wellness drinks company with no experience in food manufacturing, braving everything from its contract manufacturer's closure to a severe COVID lockdown in Vietnam.

https://bt.sg/hKWy

Ride-hailing firm Ryde hit by shareholder litigation and class action lawsuit

Shareholder Octava Fund seeks for its shares to be bought out, while the US-filed suit brings accusations of a pump-and-dump scheme.

https://bt.sg/LTGM

TWG Tea opens largest flagship at Changi Airport amid global expansion

The Singapore brand is stepping up its travel-retail push with sorbet, bonbons and a museum.

https://bt.sg/yCCg

JB-Singapore RTS Link service opening delayed to Feb 2027 on safety, testing requirements

Originally scheduled to begin service in January 2027, the opening of the RTS link will be delayed by a month due to safety certification and works.

https://bt.sg/Arno

Far East Organization to launch The Serra Residences in Novena, priced from S$3,120 psf

The 28-storey development will sit on a 51,396 sq ft, freehold site near Novena’s healthcare and lifestyle precinct.

https://bt.sg/spYt

‘Billion-dollar business’ plan: DFI to expand Starbucks footprint in Thailand, Vietnam

The retail company will open 250 more stores primarily in these two “high-growth coffee markets”, with the aim of making Starbucks its second-most profitable business.

https://bt.sg/yhoQ