Money Matters with Hongbin Jeong and Chua Tian Tian

The Monetary Authority of Singapore (MAS) has unveiled its comprehensive responses to the feedback on its proposed regulations for Digital Payment Token (DPT) service providers in Singapore. And these regulations primarily focus on business conduct and consumer access. So how will these new stricter regulations impact DPT and cryptocurrency service providers?  Penny Chai, Vice President of Business Development, APAC, Sumsub shares more. 

We’re setting our sights on the commodity sector today as we speak to a Singapore-headquartered international commodity trading house. Founded in 2007 as a company facilitating trade flows from Africa to Asia, Valency International has since established a sizable global presence with offices and operations in 22 countries and a workforce of over 2,600 people.  The firm’s global footprint now extends to 21 product categories including agricultural commodities and FMCG products the likes of cashews, almonds, pulses and beans, sesame, cumin, soybean, rice and corn.  Outside of edibles, its portfolio includes steel, paper and industrial chemicals. But what is the most important product vertical for Valency International and what implications will this have in terms of the geographical markets Valency wants to deepen its presence in? Meanwhile, Valency International recently made the news after UK’s development finance institution British International Investment (BII) invested US$15 million in it to fund the firm’s expansion of cashew processing in Nigeria.  But what opportunities does it see in cashew processing in Nigeria and what is the strategic value behind having BII invest in the firm?   On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Sumit Jain, CEO, Valency International.

From the possibilities of China taking a 'rational' approach in 2024 with regards to their relationship to the US to their continued peace making efforts, are there any positive outcomes?  Dr. Oh Ei Sun, Senior Fellow, Singapore Institute of International Affairs gives us an analysis of those headlines and more. 

What does it take to be a leader in the automotive landscape, reshaping the dynamic used car market in Singapore? On Culture Club, we speak with Christopher Chin, Managing Director of Performance Premium Selection Limited, Sime Darby Auto Selection and Sime Darby Services Private Limited.

Organisations are gearing up to substantially boost their investment in automation over the next 5 years, reaching 25% of capital spending on average, according to a report by McKinsey. In logistics and fulfilment, automation is poised to constitute over one-third of capital spending. With a goal of focusing on ecommerce parcel delivery locally and internationally, SingPost has embarked on a digital transformation project, adopting advanced technology. With the Boomi platform, SingPost can now onboard our customers 75% quicker, from five to six weeks to under two weeks. Noel Singgih, Group Chief Information Officer, SingPost tells us more.

Singaporean rower Saiyidah Aisyah reflects on her 2016 Olympic debut and THAT return to Rio de Janeiro - the one that sparked her comeback to professional rowing. Why is she mounting this comeback at the age of 35? And what are the challenges that lie ahead as she seeks to qualify for Paris 2024? Tune in to find out! READ MORE: https://www.straitstimes.com/sport/eight-years-after-rio-olympics-singaporean-rower-saiyidah-aisyah-rafa-ee-aims-for-another-shot-in-paris-2024 Got a story to tell? Get in touch with us! edanker@sph.com.sg | raushan@sph.com.sg

Singapore stocks were pulled into positive territory today, after Wall Street equities rallied in the previous session.  In early trade, the Straits Times Index (STI) rose 0.2 per cent to 3,157.22 points after 43.6 million securities changed hands in the broader market. In terms of companies to watch for today, we have Jumbo Group, after its shareholders approved the renewal of the restaurant operator’s share buyback mandate.  Elsewhere from China buying a near-record US$40 billion of chip gear to get around US curbs, to Terraform Labs filing for bankruptcy protection in the US, more international and corporate headlines are in focus. On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Chin Hui Leong, Co-founder, The Smart Investor.

Today we’re going to talk about a medical issue that up to 60 per cent of children will have by the age of six.  And that is a condition called Otitis Media, also known as OME or ‘Glue Ear’. According to HealthHub SG, glue ear refers to the collection of fluid in the middle ear which frequently occurs after an upper respiratory tract infection.  While the issue resolves by itself in most cases, the process can take up to three months. In fact, ‘Glue Ear’ is the number one cause of a child’s hearing loss, visits to doctors and surgeries. But not everyone can get access to such surgery, as the procedure can be too expensive. The hospitals that perform them are also too far away from people located in remote areas.  It is said that 120 million surgeries are needed a year while only 18 million get the surgery at the moment.  And that is the gap that our guest NousQ aims to fill.  Founded in July 2021, NousQ is a medtech firm that focuses on the R&D, manufacturing and commercialisation of innovations that bravely and sustainably disrupts healthcare delivery to serve large unmet needs.  Its flagship product, CLiKX, is the world’s first handheld, robotic, and automated surgical applicator that inserts a ear tube onto the eardrum to treat glue ears.  The process takes just one second, without the need for an operating theatre. It also reduces costs and risks by four times.  But how does NousQ intend to commercialise its CLiKX product to ensure affordability? What is needed to build up a distribution network that penetrates deep into remote areas with high prevalence of the Glue Ear condition? Also – how does the firm balance generating impact versus the revenue and profits? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to  Dr Lynne Lim, Founder and CEO, NousQ.

Our guest has found her passion through her desserts and culinary food home business After taking a break from 10 years of teaching art at the end of 2019 when Covid hit, she decided to start her first IG account for a bit of escapism. And she ended up liking to tinker and play with food so she started posting experiments, and eventually started receiving more DMs if she was catering or selling her goods. Teri Tan, Creative, Teri’s shares her journey combining art and food into one. 

NUS Business School has recently released a book, entitled "Happiness and Wellbeing in Singapore — Beyond Economic Prosperity", which reveals the degree of Singaporeans’ satisfaction with life and various life domains and affective aspects of wellbeing.  The book draws on findings from the 2022 Quality of Life (QOL) survey which examines the perceptions and views of 1,905 Singapore citizens from the ages of 21 years old and older.  So why are we less happy and satisfied with overall quality of life? Siok Kuan Tambyah, Associate Professor, NUS Business School shares more with us on the findings from the study.  Download a complimentary soft copy here, Happiness and Wellbeing in Singapore | Beyond Economic Prosperity | Si (taylorfrancis.com