Money Matters with Hongbin Jeong and Chua Tian Tian

Singapore stocks opened slightly lower today following a muted performance on Wall Street overnight. That’s as data released yesterday showed US consumer prices rose more than expected in December, signs that it was still premature for the Federal Reserve to be cutting interest rates. In terms of companies to watch today, we have Ho Bee Land. The real estate group said yesterday that its net loss for the full year ended Dec 31, 2023 is expected to widen. The projected net loss is driven mainly by a fair-value loss based on indicative valuations of its portfolio of investment properties in London.  Elsewhere, from the hotter-than-expected December CPI numbers out of the US, to Chinese export data, more international 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.

Embark on a culinary journey like no other as Tiffin Room in Raffles Singapore presents, Tandoori Festival, a multi-course dining experience that pays tribute to the classic North Indian cooking method of using the tandoor, a traditional clay oven.  Kuldeep Negi. Chef de Cuisine of Tiffin Room, Raffles Singapore shares how he will be showcasing his mastery through an impeccable selection of meats, seafood, vegetables, and even a dessert.

Globally, contactless payment transaction are set to surpass US$10tn by 2027 as we move closer to a cashless society. Yet, many of today’s current payment solutions are leaving parts of society behind, including the most underserved and unbanked populations. How can biometrics help build an inclusive payment future? Romain Zanolo, Managing Director APAC, Payment Services, IDEMIA explains. 

According to a bill submitted to parliament this week, Singapore is proposing to hold “dangerous offenders” indefinitely, even after they complete their jail sentences.  Called the Sentence for Enhanced Public Protection (Sepp), it was introduced as part of the Criminal Procedure (Miscellaneous Amendments) Bill. So why has such a sentencing regime been proposed only now?  Stefanie Yuen Thio, Joint Managing Partner, TSMP Law Corporation shares her views. 

Today we’re going to talk about the company that distributes your Toyota and Suzuki cars!  While known as an automotive distributor, our guest Inchcape was started in 1847 when two merchants from Scotland formed a general merchanting partnership.  By the next few decades, the firm became one of the early adopters of the internal combustion engine transport revolution, as well as one of the first importers of motorcars into Asia.  Its modern presence in Asia Pacific started in 1967 with the acquisition of Borneo Motors, a company founded in 1925 to distribute vehicles in Singapore.  Since then, Inchcape APAC has expanded significantly, with 3,900 employees across the region. It now distributes new vehicles and parts in major markets such as Australia, Brunei, Guam, Hong Kong, Indonesia, New Zealand, Thailand and Singapore just to name a few.  Its portfolio of OEM brands include Toyota Motor, Subaru, Suzuki, Jaguar Land Rover, BMW, and more.  And it seems like the next couple of years would be interesting for Inchcape, after the firm signed a global strategic partnership with automotive brand GWM in June 2023 to tap what it calls the ‘enormous’ potential of the Indonesian market. But what can we expect on this front?  Speaking of Indonesia, Inchcape and Indomobile also took over the Mercedez Benz business in Indonesia in April 2023. Why is this the case and how far is Indonesia a key focus area for the firm? What is Inchcape’s grand plan for the region? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Ruslan Kinebas, CEO, Inchcape Asia Pacific.

Haas team principal & Netflix's 'Drive to Survive' star Guenther Steiner has left his role after 10 years leading the US-based team. The 58-year-old Italian, who will be replaced by the team's former director of engineering Ayao Komatsu, leaves an immeasurable void in the F1 Paddock - with his charisma and candid comments. So could we see him make a return, if not for the purpose of racing but for some punditry instead? Got a story to tell? Get in touch with us! edanker@sph.com.sg | raushan@sph.com.sg

Boutique hospitality brand KINN has opened its second establishment, KINN Studios, nestled in the heart of the vibrant Keong Saik Road. This four-story boutique hotel redefines the guest experience, emphasising mental well-being and curated partnerships with local artists.  Given the rise of wellness travelling among younger travellers, KINN Studios is partnering up with Safe Space™, a mental health counselling service in Singapore, to provide its guests with access to therapy sessions to help counter travel anxieties and worries. Chayadi Karim, Founder of KINN explains the concept  behind KINN Studios, as well as how the brand is increasing its physical footprint in 2024 and beyond. 

With salaries seemingly increasing and things like our favourite chicken rice increasing in costs, you may start to wonder, am I paid enough? While our dream jobs are probably ones that match our passions, challenge us to grow, and give us opportunities for individual growth and constant learning.  So what are the salary trends we can expect in this new year and how important is it for us to be aware of our own industry’s market salary benchmark?  Chew Siew Mee, Managing Director, Jobstreet by SEEK (Singapore) tells us more. 

Singapore stocks opened stronger today. That’s following overnight gains in global equity markets, as investors await key US inflation data due this week. In early trade, the Straits Times Index (STI) headed up 0.3 per cent to 3,190.48 points after 49.2 million securities changed hands in the broader market. In terms of companies to watch, we have Novo Tellus Alpha Acquisition. The special purpose acquisition company (or Spac) said today that it would not conclude a business combination after “careful consideration and thorough evaluation of potential targets”, citing current market conditions.  Elsewhere, from LVMH and TikTok possibly working together to limit counterfeit products to Google laying off staff working on its digital assistant, more international headlines remain in focus. On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with Terence Wong, CEO, Azure Capital.

Hundreds of thousands of people faced train cancellations across Germany from Jan 10, as a three-day nationwide rail strike added to travel chaos in Europe’s largest economy, where farmers’ protests have blocked highways and snarled traffic. The strikes and protests add to pressure on German Chancellor Olaf Scholz’s coalition government, which faces growing economic problems, including weak macroeconomic data, high interest rates and a budget mess. Is Germany’s economy struggling in 2024 and can the government fix it? Cedomir Nestorovic, Professor of Geopolitics, ESSEC Business School, Asia-Pacific gives us his analysis.