Money Matters with Hongbin Jeong and Chua Tian Tian

The Singapore Tourism Board and the Ministry of Culture, Community and Youth said on Feb 20 that Taylor Swift’s sold-out concerts in Singapore in March had received support from the authorities in the form of a grant. This comes after Thai Prime Minister Srettha Thavisin's comments on Feb 16 that the Singapore Government offered subsidies in exchange for Swift agreeing not to perform elsewhere in South-east Asia. Is paying for concert exclusivity a common practice? How does it benefit Singapore's economy and does it make financial sense to give a grant? Dr Kevin Cheong, Managing Partner, Syntegrate LLP weighs in. 

Singapore shares fell at the open this morning, led by declines from local banks. In early trade, the Straits Times Index (STI) fell 0.5 per cent to 3,208.35 points after 53.6 million securities changed hands in the broader market. In terms of companies to watch today, we have Singtel. The company reported that its net profit was down 12.5 per cent to S$465 million for the third quarter ended December due to a higher net exceptional loss mainly from Optus and Airtel. Elsewhere, from more on Singapore’s inflation numbers to earnings out of SGX-listed firms and to Grabs poor outlook – more local headlines remain in focus.  Also on deck –  Reddit filing for an IPO on the New York Stock Exchange, and Nvidia’s share price performance following its blockbuster results. 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.

Having garnered headlines for their social media post about an “in-principle approval by FAS” to become the 10th team in the 2024 Singapore Premier League season, Tengah FC have come under scrutiny regarding their eligibility. So who are they? And how close are they to securing a spot in the domestic league? Deepanraj Ganesen, sports reporter with The Straits Times, has the details. READ MORE: https://www.straitstimes.com/sport/football/fas-still-assessing-applicants-who-have-submitted-proposals-to-join-singapore-premier-league Got a story to tell? Get in touch with us! edanker@sph.com.sg | raushan@sph.com.sg

More than 55% of APAC-based travelers are keen to book a surprise trip where everything down to even the destination could be unknown until they arrive, according to Booking.com's latest ‘Travel Predictions’ research. Today, we we take a look at some of the handpicked destinations to consider in 2024 with Laura Houldsworth, Managing Director of Asia Pacific, Booking.com.

Singapore stocks fell at the opening bell today, tracking overnight losses in global markets. In early trade, the Straits Times Index (STI) declined 0.1 per cent to 3,215.09 points after 40.1 million securities changed hands in the broader market. In terms of companies to watch, we have UOB, after the lender's net profit for the fourth quarter rose 21.8 per cent on higher net fee income and other non-interest income.  Elsewhere, from Wilmar International to S-Reits – more local companies are in focus. Also on deck - Nvidia’s earnings as well as moves by Taiwanese semiconductor firms to expand in Japan. On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with Terence Wong, CEO, Azure Capital.  

Amid rising cancer cases among the young and old, as well as increasing healthcare costs, why is being sufficiently protected from critical illness not yet a priority for individuals in Singapore? AIA Singapore has newly launched the AIA Ultimate Critical Cover (AIA UCC) plan, which aims to address the challenges raised by Singaporeans for not getting additional CI coverage. Irma Hadi-kusuma, Chief Marketing and Proposition Officer, AIA Singapore explains.

Alexei Navalny, Russian President Vladimir Putin’s most formidable domestic opponent, fell unconscious and died on Feb 16 after a walk at the “Polar Wolf” Arctic penal colony where he was serving a three-decade sentence. Was Putin's critic murdered? What does Navalny's death mean for a new era of Russian dictatorship, and how does his legacy impact the Russian opposition? Dr Samir Puri, Associate Fellow, UK in the World Programme, Chatham House weighs in.

Have you ever seen a dog tucked in his or her dog bed and napping so well that made you go “I wish I could be like him or her?” Well, that could soon become reality for you, with one startup in the US building and selling what they call the world’s first dog bed, but for humans!  Founded in 2021, Plufl was started by two college students at the University of British Columbia when they were craving a nap after a long and exhausting day.  In fact, the two founders’ light bulb moment came when they spotted a Great Dane napping blissfully in the biggest dog bed they had ever seen. But before you go, “does such a value proposition even work”? It does seem like that’s the case from what we’ve seen so far.  Just to illustrate, the co-founders launched a Kickstarter campaign in March 2022 to raise funds to produce their initial batch of human dog beds, after their TikTok videos gained attention among the social media community.  Half a year later, the firm managed to raise nearly $725,000 through its Kickstarter and IndieGogo campaigns.  What is even more interesting is that the firm managed to snag $200,000 in investments from Shark Tank judges Lori Greiner and Mark Cuban, for a 20 per cent stake in the company, in an episode aired in October 2022.  So what is Plufl’s business model exactly? What do profit margins look like and what is it about Plufl that allowed them to secure funds from the “sharks”?   Also – what is the strategic value brought about by having Lori Greiner onboard given her network in the QVC world? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Noah Silverman, Co-founder, Plufl.

Emerging sports like tchoukball and powerlifting having been boosted by DPM Wong’s pledge of up to $20 million top-up at Budget 2024. How will this help these sports, and how much more needs to be done? To find out more, we hear from Singapore powerlifter Farhanna Farid, and are in conversation with Delane Lim, Tchoukball Association of Singapore president.  Got a story to tell? Get in touch with us! edanker@sph.com.sg | raushan@sph.com.sg

In celebration of its 30th anniversary, Banyan Tree Group is evolving its corporate umbrella brand to Banyan Group, which reflects the group’s evolution into a dynamic, multi-brand hospitality powerhouse. With that, a landmark new eco-friendly residential community in Phuket aimed at the international community who are looking for second homes or primary residences on the Thai island has now launched international sales. Developed by the Banyan Group, Laguna Lakelands is located on the Central West coast of Phuket next to Asia's biggest and most iconic integrated resort, Laguna Phuket. Ho Kwon Ping, Founder and Executive Chairman of the Banyan Group shares more.