Money Matters with Hongbin Jeong and Chua Tian Tian

Singapore stocks opened weaker today following overnight losses in the US and Europe after technology stocks took a beating. In early trade, the Straits Times Index (STI) headed down 0.8 per cent to 3,204.07 points, after 83.7 million securities changed hands in the broader market. Regional and international headlines are in focus today. Among which is the outlook for India’s manufacturing industry, after it ended 2023 on a slightly shaky footing. That’s with factory growth decelerating to an eighteen-month low in December.  Also on the table , the outlook for the US market and whether we can expect growth outside of the Magnificent Seven stocks. On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked these developments with  James Cheo, Chief Investment Officer, Southeast Asia at HSBC Global Private Banking and Wealth.

Today we’re going to talk about an item that about half of the world’s population might need to wear by 2050.  You might have the answer already – that is glasses. According to a 2017 article by the World Economic Forum, half of the global population could be shortsighted by the middle of the century, an increase of over a third on 2017 figures.  And that presents business opportunities for our guest Lenskart, which operates over 1,500 omnichannel eyewear stores across 175 cities in India, Singapore and Dubai. Just to give you a sense of where things are at for the firm, Lenskart is delivering 10 million spectacles a year to people in India, Southeast Asia, the Middle East as of 2021, with the aim to deliver a billion pairs of spectacles over the next 10 years.  Given the goal, it is no wonder that the firm is expanding rapidly of late. It acquired a majority stake in Japanese eyewear brand Owndays in June 2022.  That’s in a deal that is said to value Owndays at a whopping US$400 million. But what is the strategic value brought about by Owndays though? On the organic expansion front, the Softbank-backed retailer said in December that it intends to open 300 to 400 stores in Southeast Asia over the next two years.  But where will Lenskart be focusing on as a start and what role will the Singapore market play in the bigger scheme of things? How does Lenskart intend to fund its growing ambitions? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Peyush Bansal, Co-founder, CEO, Lenskart.

Singapore stocks opened 2024 stronger, driven by banking stocks’ gains. The Straits Times Index (STI) rose 0.5 per cent to 3,255.63 points in early trade after 54.8 million securities changed hands in the broader market. In terms of companies to watch, we have Keppel Corporation. The conglomerate delivered 61.1 per cent in shareholder returns for 2023, higher than the 49.3 per cent posted in 2022.  Meanwhile, from China’s travel and tourism demand during the New Year’s Day holiday to key movements in the currency markets, more international headlines remain in focus. On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with Jeff Ng, Head of Asia Macro Strategy, Sumitomo Mitsui Banking Corporation.

We’re going to kickstart the year by bringing you an inside look into the final company that was listed on the Singapore Exchange in 2023.  If you’ve guessed Winking Studios - you’re right! Established in 2003, Winking Studios is a game-art outsourcing studio majority owned by Acer Gaming.  Game art outsourcing, for context, involves the creation and development of digital art assets such as game character design and 3D.  Headquartered in Singapore, Winking Studios currently has seven studios across Nanjing, Shanghai and Taipei with a staff count of over 700 people. It has also expanded its suite of offerings to look at game development and the release of gaming peripherals. The firm said it is Asia’s third-largest and the world’s fourth-largest game art outsourcing studio, with 19 of the world’s 25 largest game developers being its customers. Back to the point on listing, Winking Studios is the sixth to list on the SGX in 2023 in a fully subscribed IPO. The company said prior to its listing that it intends to use its proceeds to establish overseas subsidiaries and offices in Asia. It wants to double down on business development and marketing efforts in the US and Europe, as well as pursue strategic acquisitions to grow its market share. But why is the firm expanding its sphere of influence lately and what opportunities does it see in the art outsourcing market in the near term? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Johnny Jan, Executive Chairman and Chief Executive Officer, Winking Studios.

In this special edition of Market View, we’re going to take you through some of the key highlights for the private credit market in 2023, as well as what to watch out for in 2024.  But first things first, what exactly is private credit? Well, according to Preqin, private credit refers to the provision of debt finance to companies from funds, rather than banks, bank-led syndicates or public markets.  This mode of financing has seen continued global momentum of late. For one thing, local bank DBS said private credit soared to US$1.6 trillion globally and US$350 billion in dry powder.  But what is driving the momentum, and how far have higher interest rates and public bond yields complicated matters? And with Asia constituting 41% of global GDP and exhibiting robust fundamentals, DBS added that Asia remains a bright spot despite a recent dip in credit and private equity fund raising.  But why is this the case, and what lies ahead for the private credit landscape for 2024? On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the projections with Clifford Lee, Global Head of Fixed Income, DBS Bank.

In this special edition of Market View, we’re going to let our imagination run wild and look at a series of Outrageous Predictions for 2024.  Done by online trading and investment firm Saxo annually, the predictions focus on a series of unlikely but underappreciated events which, if they were to occur, would send shockwaves across financial markets.  The title for this year’s predictions is called “The End of the Road” – for complacency that is. Entering 2024, Saxo sees a world at an inflection point, with the familiar road of the last decade coming to an end.  What that means, according to Saxo’s Chief Investment Officer, Steen Jakobsen, is that the smooth road the world has travelled on since the Great Financial Crisis, with stable geopolitics, low inflation,and low interest rates has now been disrupted, and that we now see a future filled with unpredictability ahead of us.  Some of his out-of-the-box predictions include: oil prices at US$150, Saudi buying the Champions League franchise, the world hit by a major health crisis due to obesity drugs, Generative AI deepfakes triggering a national security crisis, and luxury shares plunging on an EU wealth tax. On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the predictions with Steen Jakobsen, Chief Investment Officer at Saxo.

From Shanti Pereira's heroics, to Scuderia Ferrari's triumph in the Lion City....from Angela Lee's emotional retirement and fight against mental health, to Safuwan Baharudin's return from the wilderness to represent Singapore...from Cristiano Ronaldo blazing a trail in Saudi football, to Lionel Messi's swansong in Europe...2023 delivered on so many fronts! What was your favourite sporting moment? We recap and relive the best the year had to offer. Got a story to tell? Get in touch with us! edanker@sph.com.sg | raushan@sph.com.sg

For the 4th year in a row, The Majurity Trust (TMT) is partnering with the Marina Bay Singapore Countdown 2024, presented by the Urban Redevelopment Authority.  This year’s collaboration, titled ‘Brightening Lives’ will see beautiful light projections expertly mapped onto some of Singapore’s most iconic landmarks, such as the Merlion, the Fullerton Hotel, and for the first time, the ArtScience Museum. Martin Tan, Chief Executive Officer, The Majurity Trust tell us more about this year’s project and how it can help benefit communities in need.

Toku, one of Asia Pacific’s leading cloud communications and customer experience software companies, has recently unveiled new research and it shows that three out of four of Singapore consumers are more confident in recognising scam calls and SMS than they were 12 months ago. But while we are confident, why are the number of people falling prey to scammers still on the rise? Will we become complacent?  Thomas Laboulle, Founder and CEO, Toku shares his views. 

From two Chinese balloons flying across the sensitive median line separating Taiwan from China to how closely the country is watching Taiwan’s upcoming presidential election.  Chong Ja Ian, Associate Professor of Political Science, NUS & Non-Resident Scholar, Carnegie China gives us an analysis of those headlines and more.