This week saw India’s Wipro secure one of its largest-ever deals through an eight-year, US$1 billion-plus engagement with Singapore’s Olam Group.
Closer to home, a Frasers Property and Mitsubishi Estate joint venture has emerged as the top bidder for a prime Kallang riverfront site, while fresh data from Knight Frank shows Singapore’s real estate investment market logging a historic first-quarter performance.
Wipro Limited (NYSE: WIT) has secured one of the largest strategic engagements in its history, signing an eight-year transformation deal with Singapore-headquartered Olam Group (SGX: VC2) that is expected to exceed US$1 billion in total contract value, with a committed spend of US$800 million.
As part of the arrangement, Wipro will also acquire Olam’s IT and digital services unit, Mindsprint, for US$375 million in an all-cash transaction.
Mindsprint, founded in 2007 and employing over 3,200 professionals across India, Singapore, the United States, the United Kingdom, and the Middle East, reported revenue of US$135.6 million for the 2025 calendar year.
The unit will become a wholly owned subsidiary of Wipro, with the deal expected to close by 30 June 2026.
Olam Group, which is majority-owned by Temasek Holdings and operates across more than 60 countries, has stated that the divestment aligns with its Re-organisation Plan to sharpen focus on core businesses and maximise shareholder value.
Wipro will deploy its AI-powered Wipro Intelligence
platform across Olam’s farm-to-fork value chain, spanning farming, forecasting, trading, and supply chain operations.
Analysts at ICICI Securities described the deal as the largest acquisition in Wipro’s history, noting that it strengthened the company’s revenue visibility and its industry-specific capabilities in food and agribusiness.
A joint venture between Frasers Property (SGX: TQ5) and Japan’s Mitsubishi Estate has submitted the top bid of S$610.75 million for a 99-year leasehold residential site at Kallang Close under Singapore’s Government Land Sales (GLS) programme, edging out four competing bids.
The winning bid translates to a land rate of S$1,415 per square foot per plot ratio (psf ppr), just 0.7% above the second-highest offer from City Developments Limited (SGX: C09).
The Kallang Close site spans approximately 11,456 square metres and can accommodate around 470 private homes alongside a childcare centre.
It marks the first GLS site launched for private residential use in the Boon Keng, Kallang Bahru, and Kampong Bugis precincts in 12 years, underscoring the limited supply in the area.
