Money Matters with Hongbin Jeong and Chua Tian Tian

Do you record all the credit cards you own in an Excel sheet just to make sure that you maximise your rewards? Or do you have a friend that does that?  Well, our guest for today HeyMax AI hopes to save you from all that work by automatically picking the best card for you to maximise your rewards.  It also provides what it calls Max Miles on top of credit card rewards whenever users shop online using the platform.  The miles can then be transferred on a 1:1 ratio to over 20 airline and hotel points including Japan Airlines, Qatar Airways and Etihad. HeyMax AI says it makes money through a B2B model, where merchants pay it a commission for directing customers to them. The commissions are then use to generate Max Miles and profits.  So far, the platform supports some 150 merchants such as Klook, iHerb, Expedia, Singapore Airlines and Booking.com. But how many merchants can we expect towards the end of the year given that the company is in its nascent stage? Also – how far does the firm compete against other credit card reward apps such as Max Rewards, Award Wallet, and even cashback apps such as Shopback? Looking ahead, the company intends to launch what it calls a “multi-linkage card” to consolidate all existing credit cards into one in the future. While it is still a work in progress, how long is the waitlist right now?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Joe Lu, Co-founder and CEO, HeyMax AI.

It's a mixture of excitement and anticipation in the air across the causeway, as Malaysia prepare to make a long-awaited return to compete with the continent's best  in the Asian Cup. We caught up with Keeshaanan Sundaresan aka Keeshmatstats, Malaysian broadcaster to get up to speed with everything we need to know...and also ponder aboutwhat can Singapore learn from our arch causeway rivals? Got a story to tell? Get in touch with us! edanker@sph.com.sg | raushan@sph.com.sg

ARTWALK has been telling the stories of Singapore’s heritage, history and culture since its inception in 2015. Originally rooted in Little India, the festival expanded its canvas in 2022 to include the rich cultural precinct of Katong-Joo Chiat. Milenko Prvacki, Senior Fellow, LASALLE College of the Arts tells us more about the festival's evolution since 2015 and what we can expect from ARTWALK 2024. 

Singapore stocks opened weaker today following overnight losses on Wall Street, as weak US trade data weighed on investor sentiment. In early trade, the Straits Times Index (STI) headed down 0.4 per cent to 3,186.34 points after 47.1 million securities changed hands in the broader market. In terms of companies to watch, we have for you OCBC. The lender has priced S$450 million in perpetual capital securities at 4.05 per cent under its US$30 billion global medium-term note programme.  Elsewhere, from Amazon’s Twitch reportedly set to lay off employees to key corporate developments out of the annual CES tech show held in Las Vegas, international headlines remain in focus. On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Thilan Wickramasinghe, Head of Equity Research, Maybank Securities.

Singaporeans now have to make do with smaller homes compared to the more spacious homes of our parents’ era. Homeowners and even renters are finding that they have too much stuff, yet too little space.  This is why self-storage solutions like Extra Space Asia are gaining popularity, not only for individuals looking to declutter their homes, but also for businesses looking for additional spaces.  Kenneth Worsdale, CEO of Extra Space Asiashares how storage solutions can address the challenges of downsizing trend and what’s next for the company in fulfilling the high demand of storage spaces.

From Malaysia’s Prime Minister Anwar Ibrahim urging government-linked investment companies (GLICs) and government-linked companies (GLCs) to reduce their overseas investments and increase their domestic investments to the latest on Indonesia’s upcoming presidential elections.  Nicholas Fang, Managing Director, Black Dot and Director for Security and Global Affairs, Singapore Institute of International Affairs gives us an analysis of those headlines and more. 

It’s a little of a Charlie and the Chocolate Factory situation for us today as we speak to the world’s leading manufacturer of chocolate, mints and fruity confections.  You might have guessed it – we’re speaking to Mars Wrigley, the firm behind world-famous brands including M&M’s®, Snickers®, Twix®, Skittles.  With a presence in over 180 countries, and nearly 1,000 of its snacks consumed every second, the firm had said in 2022 that it generated revenues of US$45 billion. 12 of its brands generate over a billion US dollars on a yearly basis. In Asia, Mars Wrigley operates as a business unit overseeing 20 markets with its strategic eight being Korea, Taiwan, Hong Kong, Malaysia, Thailand, Vietnam, the Philippines and Indonesia. But why is this the case and what is the role of its Singapore business in this regard?  Also – the firm mentioned that the ‘treat and snacks’ category is a US$32 billion business in Asia excluding China, India and Japan.  But what is the basis behind the valuation? How does the firm assess its growth trajectory and aim to get customers to expand their average basket size? Meanwhile, Mars Wrigley also embarked on a journey to digitally transform its supply chain in the prior years, but how far has that translated into cost savings for the firm here in Asia?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Kalpesh R Parmar, Regional General Manager, Mars Wrigley Asia.

Having lost the most part of 2023 due to an injury, Ikhsan Fandi tells us all about the lessons he learnt that has equipped him with fresh new vigour for 2024. He also weighs in on his aims, aspirations & resolutions for the year ahead. 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 following overnight gains on global equity markets. In early trade, the Straits Times Index (STI) headed up 0.3 per cent to 3,195.18 points after 31.3 million securities changed hands in the broader market.  In terms of companies to watch for today, we have Yanlord Land Group, after the Chinese property developer expects to record net losses for the six months, as well as the full year ended Dec 31, 2023. Elsewhere, from healthcare giants J&J, Merck and Boston Scientific going on a US$6.4 billion buying spree, to the outlook for the chip sector in 2024, more international headlines are in focus.  Also on the table, what loose parts found on some 737 MAX mean for planemakers and airlines amid the ongoing global travel recovery. On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Khoon Goh, Head of Asia Research at ANZ.

Are New Year’s resolutions still a thing? Apparently so, according to GWI’s latest research more than half (57%) of Singaporeans are still writing their lists in 2024. So what is on top of Singaporeans’ mind in the new year, amid everything that is happening in the world and in the face of an unpredictable economy?  Jo Ling Sun, Senior Trends Analyst, GWI tells us more.