Your Way Home with Hongbin Jeong

You might have heard of Jotun paint or the Jif dishwashing liquid (they are known as Cif in Singapore and carried by Unilever, but that is a story for another day), but did you know who is the player behind these brands? What about a Norwegian conglomerate called Orkla ASA?  Founded in 1654, Orkla is a leading industrial investment company focusing on brands and consumer oriented companies. Just to give you a sense of the business’ scale of operations, Orkla ASA generated operating revenues of some 58.4 billion Norwegian Krones or S$7.44 billion in 2022 and a workforce of over 20,000 employees.  The Oslo Stock Exchange listed firm has 12 companies under its belt, in areas such as paints and coatings, home and personal care, foods, confectionery and snacks, health and food ingredients among others. And it has set some exciting financial targets for these brands. For one thing, the firm had in November last year estimated the value creation potential for its consolidated portfolio companies to be 40 to 45 billion Norwegian Krones (S$5.11 billion to S$5.75 billion) in the period between 2023 and 2026.  This will mean a Compound Annual Growth Rate (or CAGR) of 8 to 10% for underlying adjusted EBIT (or earnings before interest and taxes) and a margin expansion in the range of 1.5 to 2.0 percentage points.  But how does it intend to do so? Which portfolio companies is it looking to grow versus to transform or exit? Also with Orkla selling its products in over 100 countries, what value does Asia hold for the firm? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Kaj-Dac Tam, Vice-President, Net Revenue Management, Orkla Group.

Having secured her card on the prestigious Ladies European Tour in 2024, Singaporean Shannon Tan has made a remarkable start to live as a professional golfer - finishing runner-up in her maiden event. So what next for the hotshot, who at just 19 years of age seems to be on the fast track to success? We spoke to her to find out! READ MORE: https://www.straitstimes.com/sport/singapore-golfer-shannon-tan-turns-professional-after-securing-european-tour-card Got a story to tell? Get in touch with us! edanker@sph.com.sg | raushan@sph.com.sg

Singapore shares climbed at market open today after global equities ended higher overnight. In early trade, the Straits Times Index (STI) rose 0.2 per cent to 3,154.90 points after 63 million securities changed hands in the broader market. In terms of companies to watch for today, Frasers Centrepoint Trust (J69U): The committed occupancy of the trust’s retail portfolio was 99.9 per cent for the first quarter ended Dec 31, 2023.  Elsewhere, from Singapore’s inflation numbers for 2023 to the Bank of Japan holding its monetary policy settings, more regional and international headlines are in focus. Also on deck – how India’s stock market overtook Hong Kong for the first time. On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Jeremy Tan, CEO, Tiger Fund Management.

The Monetary Authority of Singapore (MAS) has unveiled its comprehensive responses to the feedback on its proposed regulations for Digital Payment Token (DPT) service providers in Singapore. And these regulations primarily focus on business conduct and consumer access. So how will these new stricter regulations impact DPT and cryptocurrency service providers?  Penny Chai, Vice President of Business Development, APAC, Sumsub shares more. 

We’re setting our sights on the commodity sector today as we speak to a Singapore-headquartered international commodity trading house. Founded in 2007 as a company facilitating trade flows from Africa to Asia, Valency International has since established a sizable global presence with offices and operations in 22 countries and a workforce of over 2,600 people.  The firm’s global footprint now extends to 21 product categories including agricultural commodities and FMCG products the likes of cashews, almonds, pulses and beans, sesame, cumin, soybean, rice and corn.  Outside of edibles, its portfolio includes steel, paper and industrial chemicals. But what is the most important product vertical for Valency International and what implications will this have in terms of the geographical markets Valency wants to deepen its presence in? Meanwhile, Valency International recently made the news after UK’s development finance institution British International Investment (BII) invested US$15 million in it to fund the firm’s expansion of cashew processing in Nigeria.  But what opportunities does it see in cashew processing in Nigeria and what is the strategic value behind having BII invest in the firm?   On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Sumit Jain, CEO, Valency International.

From the possibilities of China taking a 'rational' approach in 2024 with regards to their relationship to the US to their continued peace making efforts, are there any positive outcomes?  Dr. Oh Ei Sun, Senior Fellow, Singapore Institute of International Affairs gives us an analysis of those headlines and more. 

What does it take to be a leader in the automotive landscape, reshaping the dynamic used car market in Singapore? On Culture Club, we speak with Christopher Chin, Managing Director of Performance Premium Selection Limited, Sime Darby Auto Selection and Sime Darby Services Private Limited.

Organisations are gearing up to substantially boost their investment in automation over the next 5 years, reaching 25% of capital spending on average, according to a report by McKinsey. In logistics and fulfilment, automation is poised to constitute over one-third of capital spending. With a goal of focusing on ecommerce parcel delivery locally and internationally, SingPost has embarked on a digital transformation project, adopting advanced technology. With the Boomi platform, SingPost can now onboard our customers 75% quicker, from five to six weeks to under two weeks. Noel Singgih, Group Chief Information Officer, SingPost tells us more.

Singaporean rower Saiyidah Aisyah reflects on her 2016 Olympic debut and THAT return to Rio de Janeiro - the one that sparked her comeback to professional rowing. Why is she mounting this comeback at the age of 35? And what are the challenges that lie ahead as she seeks to qualify for Paris 2024? Tune in to find out! READ MORE: https://www.straitstimes.com/sport/eight-years-after-rio-olympics-singaporean-rower-saiyidah-aisyah-rafa-ee-aims-for-another-shot-in-paris-2024 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, after Wall Street equities rallied in the previous session.  In early trade, the Straits Times Index (STI) rose 0.2 per cent to 3,157.22 points after 43.6 million securities changed hands in the broader market. In terms of companies to watch for today, we have Jumbo Group, after its shareholders approved the renewal of the restaurant operator’s share buyback mandate.  Elsewhere from China buying a near-record US$40 billion of chip gear to get around US curbs, to Terraform Labs filing for bankruptcy protection in the US, more international and corporate headlines are in focus. On Market View, The Evening Runway’s finance presenter Chua Tian Tian unpacked the developments with Chin Hui Leong, Co-founder, The Smart Investor.