Money Matters with Hongbin Jeong and Chua Tian Tian

Singapore shares fell at the opening bell this morning, after global equities turned out mixed showings overnight. In early trade, the Straits Times Index (STI) fell 0.5 per cent to 3,128.75 points after 56.6 million securities changed hands in the broader market. In terms of companies to watch today, we have StarHub. The mainboard-listed telco posted a net profit of S$72.9 million for its second half ended Dec 31, 2023, up from S$1.3 million the previous year.  Elsewhere from the S&P 500 ending the previous session slightly under 5,000 points to investors’ sentiments on Uniqlo owner Fast Retailing, more international and corporate headlines are 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.

Chelsea responded to a troubling week that has mounted the pressure on Pochettino by beating Aston Villa 3-1 in the FA Cup. But will it be a catalyst for the Blues' to turn their fortunes around? If not, will Pochettino last the rest of the season? We discuss that, and also preview the upcoming football fixtures with the Asian Cup and AFCON finals on the calendar for this weekend. Got a story to tell? Get in touch with us! edanker@sph.com.sg | raushan@sph.com.sg

Amidst the backdrop of our recovering tourism industry, Skyline Luge Singapore is looking to cater to the demand for recreational activities and sustainable entertainment for post-pandemic travelers. Skyline Luge Singapore has recently announced the launch of Ride the Beat, a new night time musical extravaganza.  Stephanie Besse, General Manager, Skyline Luge Singapore tells us more.

Singapore stocks opened lower today, bucking the global trend on a day which saw gains for stock markets worldwide. In early trade, the Straits Times Index (STI) fell 0.1 per cent to 3,260.09 points after 104.4 million securities changed hands in the broader market. In terms of companies to watch, we have Digital Core Real Estate Investment Trust.  The Reit issued 192 million new units at an issue price of US$0.625 per unit to raise gross proceeds of US$120 million today, following the private placement proposal the day before.  Elsewhere, from more earnings out of the US to China’s consumer prices falling at the fastest pace since the global financial crisis last month – more corporate and international headlines are in focus.  Also in store – how billionaire Gautam Adani took a year to return to the US$100 billion club of people.  On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with David Chow, Director Azure Capital.

In Southeast Asia, 62% of deaths result from noncommunicable diseases, with over 50% affecting those under 70, contributing significantly to premature mortality.  The question is, can we effectively curb chronic illness and premature mortality? How can the medical device sector reshape the next frontier in healthcare innovation, in 2024 and beyond? Bijay Singh, Global Head, Business Unit Healthcare, DKSH explains.

Today we’re going to bring you an inside look into a luxury brand called Bally. This is a brand that many may have heard about but yet not exactly know about.  Some might think of Bally as a company with a rich heritage in shoemaking, but it was actually founded in 1851 as a family run ribbon factory, three years before Louis Vuitton was born.  The firm expanded rapidly as it industrialised its processes in 1854, and set up stores in Montevideo, Uruguay Paris and France. Today, Bally offers unique designs across shoes, accessories and ready-to-wear, driven by a dedication to craftsmanship and a contemporary aesthetic.  The company has a distribution network of over 320 retail stores and 500 multi-brand points of sale spanning across 60 countries worldwide, including a global e-commerce platform serving 58 countries. Why are we talking about Bally you might ask? Well, the past five years or so have been a roller coaster ride, after a sale agreement in 2018 to Chinese textile company Shandong Ruyi fell through.  At that time, the brand is also one where people know, but yet are not compelled to purchase from, which meant challenges on top and bottom lines.  All of that meant a change in strategy for the firm’s management, which took the chance to reassess its positioning in the luxury wear industry and to transform the shoemaker into a luxury fashion powerhouse focusing on its Swiss utilitarian chic designs.  For one thing, the firm cut its teeth in clothings and had in September last year staged a joint fashion show in Milan with a new creative director.  The show was a hit and drew positive responses at a time when Gucci and Tom Ford – which by the way also had new creative directors lead their show – drew mixed responses. So how has a “Swiss Utilitarian” positioning strategy for Bally worked as it expands beyond shoes? What does it mean where money is concerned? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Nicolas Girotto, CEO, Bally.

Did you try playing chess on your mobile phone after watching "The Queen’s Gambit” on Netflix to see if you might actually be a chess prodigy? The Queen’s Gambit's viral moment may have passed, but for some young people out there, the game is still only heating up. Made up of a group of 20-something- year-olds, Aliwal Chess Club has been holding public chess meet-ups in Kampong Gelam since 2021. Hirfan Romzi, Founder, Aliwal Chess Club tells us how they are making the game of chess cool again. 

For years, the fight against climate change has been symbolised by one number,1.5. But as global warming intensifies extreme weather events, the debate over the fate of 1.5°C is heating up in unprecedented ways. So Is the 1.5-degree climate goal still realistic? Will McGoldrick, Regional Managing Director, Asia Pacific, The Nature Conservancy explains. 

Former Malaysian prime minister Najib Razak is considering filing a new petition for a full pardon, less than a week after a special panel agreed to halve his jail sentence. Najib, who was sentenced to 12 years in prison after being convicted in a case linked to the 1MDB scandal, had applied for clemency previously. But the pardons board, which is chaired by Malaysia’s king, opted last week to reduce his sentence. Will Najib's new request for full pardon be granted? Dr Mustafa Izzuddin, Senior International Affairs Analyst, Solaris Strategies Singapore explains. 

Singapore stocks climbed this morning, after global equities rallied overnight.  In early trade, the Straits Times Index (STI) rose 0.9 per cent to 3,153.46 points after 73.5 million securities changed hands in the broader market. In terms of companies to watch, DBS reported net profit of S$2.27 billion for the fourth quarter ended December, 3 per cent lower than the S$2.34 billion recorded in the year-ago period.  Elsewhere, from CapitaLand Investment acquiring assets in Singapore and Bangkok, to China’s largest chipmaker Semiconductor Manufacturing International Corporation or SMIC’s earnings, more corporate headlines are in focus.  Also on deck – developments at German software maker TeamViewer and US ride hailing firm Ryde. On Market View, The Evening Runway team unpacked some of the key headlines for the day.