Your Way Home with Hongbin Jeong

It’s all about family businesses today as we speak to Hong Leong Asia, a part of Singapore-based conglomerate Hong Leong Group. The firm’s beginnings can be traced back to the early 1900s, when Hong Leong Group’s founder the late Kwek Hong Png boarded a cargo vessel in Xiamen at the age of 16, with only an $8 ticket, a straw mat, a quilt for warmth.  While life was tough, the founder held hopes of making it big in Southeast Asia as he made the arduous journey over to Singapore. That’s where he worked at a hardware store for years before starting Hong Leong in 1941.  The firm was first set up as a general trading firm dealing in ropes, paints, ship and rubber estate supplies. Eventually, the business grew to become one of Singapore’s largest conglomerates, sprawling across industries from property, hotels, financial services and trade and industry.  At its subsidiary Hong Leong Asia, the company prides itself as a diversified Asian multinational with core businesses in the construction and transportation sectors and gross assets of over S$40 billion.  Its business can be classified into two broad categories, namely building materials and powertrain solutions. Financially, the firm had in February reported a net profit of S$38.2 million for its second half ended December, up 12.2 per cent on the year. The company’s profitability was said to be boosted by strong performances in its powertrain solutions and building materials units, amid improved market conditions in Singapore and Malaysia. But how does the firm assess the road ahead given ongoing trade tensions around the world?  Meanwhile, the issue of governance in family businesses has also come into the spotlight recently – so how does Hong Leong Asia approach the topic of governance and succession planning to ensure that the legacy of its founder lives on? On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Stephen Ho, Executive Director & CEO, Hong Leong Asia.

Ever so often, a footballer emerges who takes the game by storm. With talent and a winner’s mentality, they become the pride of club and country. In Singapore’s women’s football scene, one name stands out—Danelle Tan. At just 20, she’s won trophies with Borussia Dortmund, scored for the Lionesses, and now battles new challenges with Brisbane Roar. Speaking on the sidelines of the Roar's tour of the Lion City - where they will take on the WPL all-stars on 4 April - Danelle shares her journey, her aims and her aspirations. READ MORE: https://www.straitstimes.com/sport/football/singapore-footballer-danelle-tan-wants-to-have-more-to-celebrate-at-brisbane-roar https://www.straitstimes.com/sport/football/danelle-tan-looks-to-get-up-to-speed-in-search-for-more-game-time-with-brisbane-roar Got a story to tell? Get in touch! raushan@sph.com.sg  

US President Donald Trump has unveiled expansive new tariffs in a major escalation of his trade war, referring to the historic move as a “declaration of economic independence.” In his most ambitious economic policy, he announced a tariff of 10% of all goods coming into the US from anywhere in the world, including Singapore. He also imposed hefty “reciprocal” tariffs on at least 60 trading partners, including China and the European Union, which will be levied new duties of 34% and 20%, respectively. Foreign countries, including long-time US allies, say Trump’s tariffs won’t go unanswered. 'Liberation Day’ is here, but what will it mean for global trade moving forward? Will we have a tit-for-tat trade war that could quickly spiral out of control? How will Singapore be impacted?  On The Big Story, Hongbin Jeong speaks with Selena Ling, Chief Economist & Head, Global Markets Research & Strategy, OCBC to find out more.    Presented by: Hongbin Jeong Produced and Edited by: Nadiah Koh (nadkoh@sph.com.sg) Want to get featured on our show? Drop me an email today!

As financial markets evolve and investors seek stability amidst uncertainty, one investment option has quietly captured the attention of many in Singapore: money market funds.  Why are money market funds attractive amongst Singaporean investors? On Wealth Tracker, Hongbin Jeong speaks to Navin Sregantan, Financial Literacy Specialist at DBS, to find out more.

Singapore’s shares bucked the regional trend today as Asian markets fell hard on the back of US President Donald Trump’s “Liberation Day” tariffs. The country imposes no tariffs on US products under the US-Singapore Free Trade Agreement and was only subject to the baseline 10 per cent rate. The Straits Times Index (STI) was relatively little moved, falling about 0.5 per cent shortly after the open.  In terms of companies to watch, we have OCBC after the bank announced yesterday that it plans to deploy £10 billion (S$17.4 billion) in financing over the next six years to support foreign direct investment into the UK.  Elsewhere, from the impact of US tariffs on key Asian markets such as Japan, South Korea and China, to the implications of possible retaliation by the US largest trading partners – more international headlines remain in focus.  Also on deck, how gold hit a record high today as investors rushed towards the safe haven asset. On Market View, Money Matters’ finance presenter Chua Tian Tian dived into the details with David Chow, Director, Azure Capital. 

In Singapore, many SME owners have built their companies over decades of hard work, only to see them shut down due to a lack of proper succession planning. Entrepreneur Eldred Wee witnessed how the failure of a business can lead to strained relationships and missed opportunities. That experience inspired him to found Edenity, a company dedicated to honoring the legacies of SME owners. Edenity’s mission is to provide sustainable strategies that ensure SME businesses secure their place in the economy for generations to come. On The Right Business, Hongbin Jeong speaks with Eldred Wee, Founder and Managing Director, Edenity to find out more.    Presented by: Hongbin Jeong Produced and Edited by: Nadiah Koh (nadkoh@sph.com.sg) Want to get featured on our show? Drop me an email today!

Senator Cory Booker held a 25-hour and 5-minute marathon speech on the Senate floor, setting a new record for the longest continuous address in Senate history. This episode dives into the significance of his speech, the history he broke, and the impact it could have on American politics.

More fresh faces with potential political aspirations have been spotted engaging with residents across Singapore – a sign that preparations for the upcoming General Election are gaining pace.  This comes as the Elections Department announced last Thursday (Mar 27) that the election expense limit has been raised from S$4 to S$5 per voter. It also confirmed the designation of Group Representation Constituencies (GRCs) where candidates from Malay, Indian or other minority communities are required. Who are the fresh faces? Will we see younger potential candidates being fielded for this year’s General Election and what impact might this have on voting sentiments? On The Big Story, Hongbin Jeong speaks with Dr Teo Kay Key, Research Fellow at IPS Social Lab at the Institute of Policy Studies to find out more.    Presented by: Hongbin Jeong Produced and Edited by: Nadiah Koh (nadkoh@sph.com.sg) and Hongbin Jeong Want to get featured on our show? Drop me an email today!

Singapore shares fell today as investors continue to mull heightened trade tensions globally. The Straits Times Index dipped 0.27% to 3,957.94 points at about 1.30pm (1.29pm) with a value turnover of S$672.15M in the broader market. In terms of companies to watch, we have Sembcorp Industries, after its wholly owned subsidiary Sembcorp Utilities signed a deal to raise its interest in Senoko Energy to as much as 70 per cent, more than doubling its current 30 per cent stake.  Elsewhere, all eyes remain on the US with President Donald Trump poised to impose sweeping new reciprocal tariffs on its trading partners tomorrow morning. Also in focus – how the Land Transport Authority (LTA) issued a street-hail service operator licence to Singaporean ride-hail and delivery company Grab, and what this could mean for the country’s taxi industry.  On Market View, Money Matters’ finance presenter Chua Tian Tian unpacked the developments with James Cheo, Chief Investment Officer, Southeast Asia and India at HSBC Global Private Banking and Wealth.

Crude oil prices have remained lackluster and out of the spotlight since September 2024, as the market has been range-bound between $65 and $80 per barrel.  Some experts say oil prices are likely to be lower in 2025 than last year, with Brent crude oil prices averaging $73 per barrel in 2025. That’s down $7 per barrel per barrel from 2024. Could this be a likely scenario? Could oil prices be lower in 2025, than it was in 2024? On Wealth Tracker, Hongbin Jeong speaks to Mukesh Sahdev, Global Head of Commodity Markets - Oil, Rystad Energy, to find out more.