Money Matters with Hongbin Jeong and Chua Tian Tian

Singapore stocks were pulled into positive territory today. That’s amid overnight gains on Wall Street, with the Nasdaq ending sharply higher, supported by heavy-weight tech stocks. In early trade, the Straits Times Index (STI) added 0.5 per cent to 3,090.02 points after 104.8 million securities changed hands in the broader market. In terms of companies to watch today, we have Vertex SPAC. The first special-purpose acquisition company of Singapore begins trading as 17Live Group today upon the completion of its business combination.  Elsewhere from Japan’s economy falling faster than initially expected  in the third quarter, to Google’s latest AI model for consumers, and expectations for November’s US non-farm payrolls, more international headlines remain in focus.  On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments withSunny Soh, Lead Technical Analyst (Capital Markets & Investor Education), SIAS.

The Australian wine industry is one of the world's largest exporters of wine. Australia has exported 625 million litres of wine in 2021 and 2022, and its valued at $2.1 billion. And now one of the world's largest wine companies, Treasury Premium Brands has earmarked Australian heritage winery Wynns Coonawarra Estate to be its next luxury brand.  Kjetil Undhjem, Chief Marketing Officer, Treasury Premium Brands shares how his company plans to turn the 70 year old winery to the next luxury brand. 

Artificial intelligence is already having a major impact on many industries around the world, and it is only going to become more important in the future. In fact, the global robot software market is estimated to generate $47.24 billion by 2030. But how will 'no-code' robotics continue to push the boundaries of automation and AI? Daryl Lim, Co-Founder of Augmentus explains.  Augmentus has recently announced the successful completion of its USD 5M Series A round led by Sierra Ventures to revolutionize industrial robotics with its patented no-code and vision-based system.

Singapore's largest taxi operator ComfortDelGro has announced that it will increase its cab fares to help cabbies defray higher operating costs. The last time this was done was back in March 2022. A new peak hour surcharge will also be implemented from 10am to 1.59pm on Saturdays, Sundays and public holidays. But is there a real need for them to do so again?  Walter Theseira, Associate Professor, Economics & Head, Master of Management (Urban Transportation) Programme, Singapore University of Social Sciences shares his views. 

Messaging tools are much needed not just between individuals like you and me, but also between banks and financial institutions to support global and local financial flows, as well as trade and commerce all around the world.  Founded in 1973, our guest Swift is a global member-owned cooperative and also the world’s leading provider of financial messaging services.  While it does not hold funds or manage accounts on behalf of customers, Swift enables its community of users to communicate securely and exchange standardised financial messages in a reliable way.  So far, its platform, products and services connect over 11,500 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories.  The cooperative reported that close to 90% (89%) of cross-border transactions processed on its network reached recipient banks within an hour, ahead of speed targets set out by the Financial Stability Board. How is that achieved and what does it mean for Swift looking ahead?  Meanwhile, Swift also developed a Central Bank Digital Currency solution that interlinks CBDC networks and existing payment systems for cross-border transactions. But what wider implications will this have on the financial industry? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Sharon Toh, Head of ASEAN Region, Swift.

Health systems around the world are facing persisting and growing challenges, including an ageing population, health inequity, and workforce shortages. As the recent pandemic further widens the healthcare workforce gap, can digital tech plug the shortfall of workforce in the healthcare industry? To unpack the findings from the Philips Future Health Index 2023 is Ivy Lai, Country Manager, Philips Singapore.

This week’s summit between European Union and Chinese leaders will mark the capstone of a year of intensive in-person engagement between Chinese and European leaders. Trade is expected to be the dominant issue at this year’s summit. What issues are likely to be on the agenda or what outcomes can we expect? And what is on the table in EU-China relations in 2024?  Cedomir Nestorovic, Professor of Geopolitics, ESSEC Business School, Asia-Pacific shares his insights. 

Singapore stocks started the day on a softer note, mirroring overnight losses on Wall Street. In early trade, the Straits Times Index (STI) headed down 0.6 per cent to 3,070.31 points after 36.8 million securities changed hands in the broader market. In terms of companies to watch, we have Manulife US Reit, after investor watchdog Securities Investors Association (Singapore), or Sias, questioned Manulife US Reit’s fundraising proposal of a mix of asset dispositions and a sponsor-lender loan.  Elsewhere, from ComfortDelgro raising taxi fares to more on concerns over the US$1.6 trillion private credit market, more corporate and international headlines are in focus.  On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with David Chow, Director, Azure Capital.

Today we’re going to talk about Hong Kong’s biggest cosmetics chain. Make a guess – the chain is known for its pink-and-white shop front.  Does Sasa ring a bell? Founded in 1978, Hong-Kong-listed Sasa first launched in Singapore in 1997 and grew over the years to become the go-to place for make-up and personal care products in the early 2000s. While it was positioned as a discount retailer, the firm’s diversified portfolio extends to over 9,000 products from over 600 international brands of skincare, fragrance, make-up, hair care and more.  A lot has changed in recent years with the entry of retailers such as Sephora and the boom in e-commerce, and the firm closed all 22 shops some three years ago.  But that’s just the start of a new chapter of Sasa’s journey in Singapore, as the firm is making a comeback with its new outlet at Jurong Point Shopping Centre today! Question is – why is Sasa re-entering Singapore right now? What opportunities does it see in Singapore and what will it do differently to thrive in the lion city?  And how does Sasa assess its growth and expansion strategy at a group level with the global retail industry still reeling from the effects of COVID-19 pandemic curbs?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Danny Ho, Executive Director and Chief Financial Officer, Sa Sa International Holdings.

If you are looking for a place that combines rich historical significance with a variety of activities, Kazakhstan should be at the top of your travel list. As the world's largest landlocked country, Kazakhstan is the ninth largest country in the world, covering an area equivalent to Western Europe. We get an exclusive inside of Kazakhstan and the potential the country has to be the Singapore of Eurasia with His Excellency, Askar Kuttykadam, Ambassador of Kazakhstan to Singapore, Australia and New Zealand.