Money Matters with Hongbin Jeong and Chua Tian Tian

Did you know that Singapore has been home to many foreign banks in the 1800s?  In fact our guest for today is one of them. Having opened its first branch in Singapore in 1877, HSBC Singapore is a qualifying full bank serving the international needs of individual, corporate and institutional clients.  It provides retail banking, wealth management, commercial investment, private banking, insurance as well as securities and capital market services.  Fast forward to today, HSBC Singapore has close to 4,000 employees and serves as an international wealth and regional wholesale hub, while being a sandbox for digital innovation experiments for the Group.  The bank is now carving out a bigger role for Singapore as a regional hub as it expands in Asia, with the city receiving funds from a US$6 billion (S$8.1 billion) investment earmarked to drive its Asian growth between 2021 and 2026. But what can we expect on this front? On Under the Radar, Drive Time’s finance presenter sat down with Kee Joo Wong, CEO, HSBC Singapore for more. He is also the first Singaporean CEO of HSBC Singapore. 

With Russia halts participation in Ukraine grain deal, what strategies will the UN employ to cope with this change? Spanish Prime Minister Pedro Sánchez recently called early elections for July 23. Will the election have any impact on Spain’s EU presidency? Finally, the European Commission has to find a plan B as US economist Fiona Scott Morton, has decided not to accept the offer to fill one of the Commission's top posts. We speak to  Professor Cedomir Nestorovic, Professor of Geopolitics, ESSEC Business School, Asia-Pacific more about these headlines.

Do you have a gym membership? Well if you do, you're one of the many in Singapore flocking to these venues in pursuit of your fitness goals. Why the sudden boom in this market, and why are more gyms cropping up in our heartlands? Richardo Chua, franchise owner of Body Fit Training, is on hand to tell us more! Got a story to tell? Get in touch with us! edanker@sph.com.sg | raushan@sph.com.sg

Singapore stocks opened stronger today after global markets rallied overnight. In early trade, the Straits Times Index added 0.6 per cent after 46 million securities changed hands in the broader market.  In terms of companies to watch, we have Sakae. The mainboard-listed restaurant operator today said its executive chairman Douglas Foo entered into a sale and purchase agreement with Makara Capital to sell a 20 per cent stake in the company for S$26.5 million.  Meanwhile, from China possibly becoming the luxury industry’s next sore spot to Hong Kong’s talent war and the latest US earnings from the likes of Morgan Stanley, Bank of America and Charles Schwab, more international news continue to make the headlines today. On Market View, the Drive Time team dived into the details with Thomas Rupf, CIO Asia & Head of Trading Execution, VP Bank Ltd Singapore Branch. 

A hybrid work culture has become much more popular among businesses due to the many benefits of working from home. However, the value of being in person must not be ignored as things such as creating a lively working environment, looking at body language, make employers work more meaningful. We speak to Erwin Chong, Group Head of Corporate Real Estate Strategy & Administration, DBS more about this.

From Thailand’s PM hopeful Pita Limjaroenrat losing the first round of vote to become the country’s PM to Thailand's Constitutional Court suspending reformist Mr Pita while it hears a case that could see him disqualified as an MP. We speak to Associate Professor Antonio Leopold Rappa, Head, Security Studies Programme, School of Business, SUSS more about these headlines.

Digitalization can help businesses improve profitability and gain a competitive advantages. Effectively implementing this type of technology requires constant regulation of data and having clear goals. Success comes from understanding the people involved, the process to be followed, and available tools within the organization. This is apparent in the accountancy sector. We speak to Alan Chang, Business Owner, Singapore Corporate Services more about this.

Earlier we told you about the world’s largest mining company BHP. Today we are going to take you closer to home by looking into the operations of a Singapore-grown minerals and resource company.  With a global footprint spanning across countries in Southeast Asia and West Africa, TOP International Holding is an integrated producer of bauxite – or a mineral used to produce aluminium – and offers end-to-end service that includes exploration, mining, marketing, trading logistics and delivery. The company has grown much since its inception in 2014, with over 250 employees in five countries.  It is also emphasising on diversification, having expanded its trading portfolio to include commodities such as iron ore, copper cathode, sand and coal.  Question is – to what extent has that helped the firm navigate the shifting of global supply chains amid the pandemic? Also – what is TOP International Holding’s growth trajectory like in the near term? On Under the Radar, Drive Time’s finance presenter Chua Tian Tian posed these questions to Victor Tan, CEO, TOP International Holding.

China’s economic recovery lost momentum in the second quarter. They are now focusing on high quality growth rather than high speed growth in order to solve this issue. John Kerry is in Beijing for a four-day trip to revive climate talks and perhaps they could use this as a common ground to improve the US-China relationship. Lastly, China’s Foreign Minister Qin Gang has vanished from public view and this could be an indication of a potential shift in China's foreign policy. We speak to Dr Chen Gang, Assistant Director and Senior Research Fellow,  East Asian Institute, National University of Singapore more about these headlines

Castlery is Singapore’s most popular homegrown furniture brand and is marking their 10th year anniversary with the opening of a brand-new global office headquartered in Singapore. They navigate this unique industry by closely watching the market and understanding consumer demands. We speak to Declan Ee, Co-Founder, Castlery more about this.