Money Matters with Hongbin Jeong and Chua Tian Tian

This week’s summit between European Union and Chinese leaders will mark the capstone of a year of intensive in-person engagement between Chinese and European leaders. Trade is expected to be the dominant issue at this year’s summit. What issues are likely to be on the agenda or what outcomes can we expect? And what is on the table in EU-China relations in 2024?  Cedomir Nestorovic, Professor of Geopolitics, ESSEC Business School, Asia-Pacific shares his insights. 

Singapore stocks started the day on a softer note, mirroring overnight losses on Wall Street. In early trade, the Straits Times Index (STI) headed down 0.6 per cent to 3,070.31 points after 36.8 million securities changed hands in the broader market. In terms of companies to watch, we have Manulife US Reit, after investor watchdog Securities Investors Association (Singapore), or Sias, questioned Manulife US Reit’s fundraising proposal of a mix of asset dispositions and a sponsor-lender loan.  Elsewhere, from ComfortDelgro raising taxi fares to more on concerns over the US$1.6 trillion private credit market, more corporate and international headlines are in focus.  On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with David Chow, Director, Azure Capital.

Today we’re going to talk about Hong Kong’s biggest cosmetics chain. Make a guess – the chain is known for its pink-and-white shop front.  Does Sasa ring a bell? Founded in 1978, Hong-Kong-listed Sasa first launched in Singapore in 1997 and grew over the years to become the go-to place for make-up and personal care products in the early 2000s. While it was positioned as a discount retailer, the firm’s diversified portfolio extends to over 9,000 products from over 600 international brands of skincare, fragrance, make-up, hair care and more.  A lot has changed in recent years with the entry of retailers such as Sephora and the boom in e-commerce, and the firm closed all 22 shops some three years ago.  But that’s just the start of a new chapter of Sasa’s journey in Singapore, as the firm is making a comeback with its new outlet at Jurong Point Shopping Centre today! Question is – why is Sasa re-entering Singapore right now? What opportunities does it see in Singapore and what will it do differently to thrive in the lion city?  And how does Sasa assess its growth and expansion strategy at a group level with the global retail industry still reeling from the effects of COVID-19 pandemic curbs?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Danny Ho, Executive Director and Chief Financial Officer, Sa Sa International Holdings.

If you are looking for a place that combines rich historical significance with a variety of activities, Kazakhstan should be at the top of your travel list. As the world's largest landlocked country, Kazakhstan is the ninth largest country in the world, covering an area equivalent to Western Europe. We get an exclusive inside of Kazakhstan and the potential the country has to be the Singapore of Eurasia with His Excellency, Askar Kuttykadam, Ambassador of Kazakhstan to Singapore, Australia and New Zealand. 

Singapore stocks opened slightly lower today after global equities closed largely on a positive note. In early trade, the Straits Times Index (STI) was down 0.1 per cent to 3,074.93 points after 21.2 million securities changed hands in the broader market.  In terms of companies to watch for today, we have Nio. The electric vehicle player sank deeper into the red with a net loss of 4.6 billion yuan (S$868.7 million) for the third quarter of FY2023.  Elsewhere from US job openings falling to a more than two-and-a-half year low in October to China blue-chip stocks hitting 5-year lows, more international and corporate headlines remain in focus. On Market View, The Evening Runway’s finance presenter Chua Tian Tian dived into the details with David Poh, Head of Investment and ESG Strategies, South Asia, Amundi.

From Parti Islam Se-Malaysia (PAS) retaining their Kemaman seat with candidate Dr Ahmad Samsuri Mokhtar to six Thai hostages kidnapped and held for weeks in the Gaza Strip by Hamas arriving back home on Monday.  Adib Zalkapli, Director, BowerGroupAsia gives us an analysis of those headlines and more. 

This conversation is set to help you cool down in sunny Singapore.  Our guest for today is Carrier Corporation, which is a leading global provider of sustainable and intelligent building and cold chain solutions.  The firm is mainly focused on three business areas, namely heating, ventilation and cooling or HVAC, refrigeration and fire and security.  In total, the segments generate US$20.4 billion in net sales for the year of 2022, with Asia Pacific contributing some 17% to the figure.  With the global heating, ventilation and cooling (HVAC) system market projected to grow to US$228.74 billion by 2030, how does Carrier intend to capture growth looking ahead? What is its area of focus within Asia and particularly in the Southeast Asian markets of Singapore, Malaysia and Brunei? Meanwhile, Carrier had in April announced strategic actions to transform its business portfolio and establish itself as a pure-play, global leader in intelligent climate and energy solutions. But what were the reasons behind that? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to  Chong Wai Yen, Managing Director, Carrier Corporation.

The global luxury market continues its upward trajectory and is projected to reach a record €1.5 trillion in 2023, according to a new report from Bain & Company and Italian luxury goods association Altagamma. This represents an 8-10% growth over 2022, proving the sector’s resilience amid economic uncertainty. What trends will shape the luxury industry in 2024 and beyond? And as markets shift and consumer preferences change, how should luxury brands adapt in order to stay competitive? Federica Levato, Partner at Bain & Company & Leader in Global Fashion and Luxury Goods Practice explains. 

Singapore stocks opened weaker today following overnight losses on global markets. In early trade, the Straits Times Index (STI) headed down 0.1 per cent to 3,080.87 points after 19.5 million securities changed hands in the broader market. Meanwhile, international headlines are in focus today with investors mulling a private sector survey which showed China’s services activity expanded at a quicker pace in November.  Also in focus today – Nvidia’s CEO Jensen Huang’s comments that the firm will build a network of semiconductor plants in Japan, as well as US consumer spending outlook and gold prices.  On Market View, Drive Time’ finance presenter Chua Tian Tian unpacked the developments with Ken Shih, Head of Wealth Management, Greater China, SAXO Markets. 

It is not uncommon for employees to use their corporate devices to hunt for tempting gift deals. This allure of online shopping and festive cheer also unfortunately brings with it an increased risk of holiday scams, which for businesses can lead to the compromise of sensitive corporate data and financial losses. So what are the risks associated with employees using corporate devices for personal holiday shopping? Lindsay Brown, Vice President and General Manager, Asia Pacific and Japan, GoTo shares how a secure IT infrastructure can help safeguard employees from scams in this shopping holiday period.