Money Matters with Hongbin Jeong and Chua Tian Tian

Elon Musk has stepped down from his role as head of the Department of Government Efficiency, marking a dramatic end to one of the most unconventional chapters in recent White House history.  Appointed by President Trump as a Special Government Employee, Musk’s mission was to slash waste and streamline federal operations through aggressive cost-cutting and structural overhauls. Though he claimed $160 billion in savings, critics allege mismanagement, inflated figures, and wide-reaching consequences for public services.  His departure follows public opposition to Trump’s sweeping “One Big Beautiful Bill Act,” signaling a clear policy rift between the two once-aligned figures. What drove Musk to break ranks with the administration now? How does he reflect on the legacy of DOGE, and what does this mean for his return to the private sector? Most importantly, where does his political influence go from here? On The Big Story, Hongbin Jeong speaks to Kevin Chen, Associate Research Fellow with the US Programme at the S Rajaratnam School of International Studies, Nanyang Technological University, to find out more.

Mental illness is now the biggest health crisis facing Singapore’s youth — and it’s happening largely out of sight. A new study uncovers a stark truth: mental disorders are now the leading cause of disability and death among 10 to 14-year-olds in Singapore — more than in any other ASEAN country. What’s fueling this silent epidemic? And how can Singapore confront a mental health crisis that too often stays hidden behind closed doors? On The Big Story, Hongbin Jeong speaks with Marie Ng, Associate Professor at the Yong Loo Lin School of Medicine, National University of Singapore and an Affiliate Associate Professor at the Institute for Health Metrics and Evaluation to find out.

Singapore stocks rose this morning, after a US trade court blocked US President Donald Trump’s “Liberation Day” tariffs from going into effect. The Straits Times Index (STI) opened 0.2 per cent higher at 3,919.48 points after 102.5 million securities changed hands in the broader market. In terms of companies to watch, we have CapitaLand Ascendas Reit. The company reported today that it has raised S$500 million from a private placement of 202.4 million units priced at S$2.47 each.  Meanwhile, from Nvidia’s forecast beating earnings, to Meta chief Mark Zuckerberg touted the tech giant’s generative artificial intelligence (Gen AI) assistant at the firm’s annual gathering of shareholders and telling them that it is used by a billion people each month across its platforms, more corporate headlines remain in focus. On Market View, Money Matters’ finance presenter Chua Tian Tian dived into the details with David Chow, Director, Azure Capital. 

Amid Asia’s surging economic momentum, one city emerges as the region’s financial nerve center: Singapore. As capital flows shift and private markets expand, investors are increasingly turning to this global hub - not just as a conduit, but as a catalyst for opportunity. What lies ahead in this evolving landscape? And how can savvy investors harness Singapore’s strategic edge to unlock the next wave of alternative asset growth across Asia? On Wealth Tracker, Hongbin Jeong speaks with Johnny Adji, Alternatives Investment Leader for Mercer Asia, to find out more. 

In a world where men’s fashion often leans towards fast trends and mass production, Made Suits has carved out a distinctive niche by offering high-quality, bespoke tailoring that combines the finest Italian and Japanese craftsmanship. Co-founded by Benjamin Tay, Made Suits was born from a passion for refined tailoring and a vision to revolutionize how men shop for suits in Singapore and beyond. What does it take to build a tailoring brand that marries tradition with innovation? How do you craft a suit that’s not only a perfect fit but also a reflection of modern masculinity? On The Right Business, Hongbin Jeong speaks with Benjamin Tay, Co-founder, Made Suits to find out more. 

A British woman was awarded $50,000 after being compared to Darth Vader at work. And what was meant as a fun, Star Wars-themed team quiz turned into a serious HR issue.

Money Matter’s finance presenter Chua Tian Tian was at Sentosa to attend the Asia Tech x Singapore or ATx Summit held at Capella Singapore.  Organised by the Infocomm Media Development Authority of Singapore or the IMDA, the event covers a range of topics such as agentic and embodied AI, space satellite and communications, quantum compute and digital sustainability through a series of plenary sessions.  There is also a variety of forums and roundtables to facilitate closer partnerships between the public sector and the digital industry.  Among them, is the first OpenAI Forum in Asia. The series is aimed at sparking thoughtful dialogue on how AI can enhance culture, society, and everyday life.  The forum session dived into OpenAI’s first ever museum partnership in Asia, with the Peranakan Museum and in collaboration with Ask Mona, a French AI studio that specialises in cultural experiences.  In a pilot collaboration, they came up with ways for museum visitors to speak to artifacts like a kamcheng jar or the traditional Peranakan attire using AI-generated conversations, and provide a fresh and interactive way to connect people with heritage ahead of Singapore’s SG60 celebrations. Tian Tian found out more about the experience from Sandy Kunvatanagarn, Head of APAC Policy at OpenAI. 

Singapore shares moved higher today even as Asia traded mixed. The Straits Times Index was up 0.42% at 3,912.35 points at 2.46pm Singapore time, with a value turnover of S$716.87M seen in the broader market. In terms of counters to watch, we have OCBC, after the bank announced yesterday key leadership changes to its global wholesale banking franchise, to take effect on the 1st of October.  Elsewhere, from Singapore’s real wages rising at a faster rate of 3.2% in 2024, to China planning an overhaul of its commodities market to attract global investors, more local and international headlines remain in focus.  Also on deck – how a Tencent Holdings subsidiary is snapping up a nearly 10 per cent stake in SM Entertainment valued at about US$180 million, marking a rare Chinese investment into a South Korean company in recent years.  On Market View, Money Matters’ finance presenter Chua Tian Tian unpacked the developments with Too Jun Cheong, Dealing Manager from Moomoo Singapore.

The luxury fashion market stands at a crossroads amid tightening global economies and shifting consumer mindsets.  With real incomes lagging and spending growth subdued through 2029, traditional luxury hubs like the US, China, and Europe face unprecedented challenges.  Rising prices, evolving questions of value and authenticity, and the surge of affordable luxury are redefining how consumers connect with high-end brands.  How are macroeconomic forces and trade policies steering this transformation — and what strategies around perception, pricing, and brand positioning will ensure lasting success in a rapidly changing landscape? On Wealth Tracker, Hongbin Jeong speaks to Lydia Burton, Associate Analyst, Food & Drink, BMI, to find out more.

Singapore’s real wages rose by 3.2% in 2024, marking a rebound from the modest 0.4% growth the year before as nominal wage increases outpaced easing inflation. Yet, concerns are emerging over the sustainability of this trend. Despite stronger-than-expected GDP growth in early 2024 and signs of easing in US-China trade tensions, MOM expects wage growth to moderate in 2025. What explains the cautious outlook amid improving economic indicators? Why are certain sectors seeing stronger wage and profit growth than others? And how might global and domestic forces shape the future of wages in Singapore? On The Big Story, Hongbin Jeong speaks with Aurobindo Ghosh, Assistant Professor of Finance (Education) Lee Kong Chian School of Business, Singapore Management University to find out more.