Your Way Home with Hongbin Jeong

Singapore shares opened higher today following the decision to pause the interest rate hike by the US Federal Reserve. In early trade, the Straits Times Index was up 0.1 per cent to 3,222.24 points after 129.8 million securities changed hands in the broader market. In terms of companies to watch, we have Keppel. That’s as the company obtained two contracts to provide what it dubs “energy-as-a-service” in Bangkok’s Sam Yan Smart City, through its joint venture with Decarb.  Meanwhile, a slew of central bank decisions continue to take the centre stage with the US Federal Reserve holding rates steady at the 5 to 5.25 per cent range, while China lowered its medium-term lending facility rate by 10 basis points to 2.65 per cent. On Market View, the Drive Time team unpacked these developments with David Chow, Director Azure Capital.

The halal travel demographic is a sizable market segment globally. Ensuring that Muslim tourists can continue to practice their faith while still enjoying the culture of the country they are visiting requires these countries to implement Muslim-friendly services, namely easy access to halal food and places to pray. We speak to Fazal Bahardeen, CEO, CrescentRating & HalalTrip more about this.

The accounting and professional services sector is at the centre of our conversation today.  According to the Accounting and Corporate Regulatory Authority, Singapore projects 6,000 to 7,000 new accounting jobs by 2025, adding on to the current workforce of over 100,000 employees.  Globally, the Big Four accounting firms also went on hiring sprees of their own last year, with the companies already boasting over a million employees as of November 2022.  But why did demand for professional services increase amid the volatile economic climate and as job cuts hit other industries such as investment banking?  Has that boom fizzled yet with consulting firms announcing job cuts in the US this year? If not, what is the way ahead for the industry? I sat down with Shariq Barmaky, CEO, Deloitte Singapore, to find out what Deloitte Singapore is seeing right now in terms of demand and what this means for the firm’s growth trajectory. 

Silvio Berlusconi, Italy's longest-serving post-war prime minister died on June 12 at the age of 86. Now, there is much debate over what it means for Italian politics and his business empire.  Over in Russia, the 26th St. Petersburg International Economic Forum, once dubbed the ‘Russian Davos’ kicks off amid geopolitical tensions.  And as the rest of the world moves away from the pandemic, Britain’s Covid-19 inquiry looks to analyse the pitfalls in their dealing with the crisis. We speak to Chris Humphrey, Executive Director, EU-ASEAN Business Council for an analysis of the biggest headlines out of Europe. 

With technology having been an important part of our lives for a few years now, many users, especially Gen Z's, have unused online accounts that they have moved on from. Data waste in forms such as this is increasing and curbing it is crucial especially from a sustainability point of view. We speak to Andy Ng, Vice President and Managing Director for Asia South and Pacific Region, Veritas Technologies more about this.

Growing a brand in this day where e-commerce is so vital requires effort and expertise. E-commerce accelerators, such as Pattern, help brands optimise sales on marketplaces like Tmall, JD.com, Coupang, and Lazada.  We speak to John Lebaron, Chief Revenue Officer, Pattern more about this.

Singapore shares opened higher today, following significant gains in global markets on mild US inflation data and positive sentiments of a possible pause in interest rate hikes.  In early trade, the Straits Times Index (STI) was up 0.3 per cent to 3,197.76 points. after 73.1 million securities changed hands in the broader market. Elsewhere, from China increasing oil import quota to the latest US inflation numbers and to Amazon Web Services considering using AI chips from Advanced Micro Devices, international headlines continue to make the news today. On Market View, the Drive Time team unpacked these developments with Ken Shih, Head of Wealth Management, Greater China, SAXO Markets. 

Today we’re going to give you an overview of one of the largest privately held real estate investors and managers in the world.  Founded in 1957, Hines is a real estate investment, development and management firm with presence in 395 cities across 30 countries and US$95.79 billion of investment assets under management as of the end of last year.  The company has historically developed, redeveloped or acquired over 1,600 properties with 203 developments around the world underway at the moment.  With many APAC currencies devaluing against the US dollar, we want to find out what this means for the Houston-headquartered firm and its investors when it comes to expansion within Asia.  On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Ray Lawler, CEO, Asia Pacific, Hines for more. They also had a look at land development patterns and trends in urban sites within APAC and the opportunities they present for the company.

The Malaysian police are asking Interpol to help them track down comedian Jocelyn Chia. Malaysian Prime Minister Anwar Ibrahim has reaffirmed the need for reforms, saying Malaysia must change or it will not survive. He also is to clarify some issues surrounding the border agreement with Indonesia. Lastly, Thailand’s prime ministerial frontrunner Pita Limjaroenrat will be investigated over whether he was qualified to run in last month’s election. We talk more about these headlines with Dr. Felix Tan, Political Observer, Nanyang Technological University.

Sustainability in the fashion industry is increasingly important to consumers. _/\/\/\ake O is the brainchild of the founders of GINLEE Studio, as they create a design-led circular initiative to transform unused fabrics into uniquely re-designed products to close the loop of excess production. This is a unique approach compared to the approaches most other design and fashion companies use We speak to Gin Lee, Designer and Co-Founder, GINLEE Studio to learn more about this initiative.