Your Way Home with Hongbin Jeong

With the 2023 SEA Games in full flow in Cambodia - Elliott and Raushan check-in with our man on the ground Deepanraj Ganesan, Straits Times Sports reporter to get up to speed with what's happening at the 32nd edition of the regional games. Got a story to tell? Get in touch with us! edanker@sph.com.sg raushan@sph.com.sg

Singapore shares dipped slightly today as global markets continued reacting to the latest US Federal Reserve rate hike.  In early trade, the Straits Times Index lost 0.1 per cent, to 3,267.32 points after 33.3 million securities were traded in the broader market. In terms of companies to watch today, we have OUE Commercial real estate investment trust, after its manager announced yesterday a net property income of S$56.6 million for the first quarter of 2023, an 18 per cent increase from the same period last year.  Elsewhere, investors continue to be laser focused on the regional banking sectors.  More notably, shares of PacWest plunged 50.6 per cent in the previous session. The bank had confirmed an earlier Reuters report that it was exploring strategic options, including a potential sale or capital raise.   On Market View, the Drive Time team discussed the latest market moves and views with Benjamin Goh, Head of Research and Investor Education, SIAS.

Singapore HeritageFest (SHF) 2023 returns with its 20th edition in May, presenting two refreshing new themes namely, Singapore’s sporting heritage, and public transportation history.  Qazim Karim, Festival Programmer, Singapore HeritageFest shares more with us on what visitors can expect from SHF 2023. 

The Covid-19 pandemic has been challenging for many businesses, but as we move forward, data shows the franchise industry is thriving.  After two years of economic uncertainty, more and more people are following their entrepreneurial dreams and taking control of their destiny through business ownership.  Choosing a franchise brand helps to alleviate some of the fears and the unknowns of starting a new concept from scratch. Hsien Naidu, Founder and Chief Executive Officer, TreeAMS shares more with us on the franchising landscape in Singapore. 

From UK Prime Minister Rishi Sunak facing his first big electoral test as PM in local polls and Ukrainian President Volodymyr Zelenskyy surprise visit to Finland for Nordic summit. Trisha Craig, Vice President (Engagement) and Senior Lecturer of Social Sciences (Sociology and Political Science), Yale-NUS College gives us an analysis of those headlines and more. 

With the earnings season in full swing in Singapore, we want to turn our attention to REITs, and in particular we want to zoom in on AIMS APAC REIT, which has just announced its FY2023 results today.  Listed on the Mainboard of the Singapore Exchange since 2007, Aims APAC Reit invests in a diversified portfolio of logistics, business parks and industrial real estate across APAC, including subsegments like warehouse and hi-tech space in Singapore and Australia.  The REIT reported a 5.1% year-on-year increase in distribution per unit in FY 2023, representing a distribution yield of 7.5%. Its net property income also surged 18.7% to S$122.5 million for the year, while portfolio occupancy stood at a record high of 98%, with a tenant retention rate of 78.4%.  AIMS APAC REIT says the numbers were driven by higher occupancy in the Logistics and Warehouse segment, which has seen double digit growth across the four quarters thanks to demand coming in from third party logistics players.  But for how long will the logistics and warehouse segments remain defensive, and how will leasing demand look like in FY2024? On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Russell Ng, Chief Executive Officer, AIMS APAC REIT for more.

There’s a new k-drama series, and it screams Korean Deadpool. It’s called “Stealer: The Treasure Keeper.” And it’s a new caper comic action drama in which a mysterious cultural asset thief named Skunk and an unofficial heritage redemption team known as Team Karma collaborate to fight against those who cannot be judged by the law. 

Erling Haaland has broken the Premier League record for goals in a season - notching his 35th goal in 34 games to go one clear of Andy Cole and Alan Shearer, whose 34-goal tallies had come in a 42-match campaign. So is Haaland the greatest goalscorer the league has seen? And will he lead Manchester City to total dominance? Got a story to tell? Get in touch with us! edanker@sph.com.sg raushan@sph.com.sg

Singapore shares dipped slightly in early trade today following confirmation of a 25 basis point Fed rate hike. In early trade, the Straits Times Index (STI) lost 0.1 per cent, to 3,257.8 points after 55.3 million securities were traded in the broader market.  In terms of companies to watch, we have  Frasers Logistics & Commercial Trust, after its manager announced a distribution per unit of S$0.0352 (3.52 Singapore cents) for the first half of FY2023, representing an 8.6 per cent year-on-year decline.  Meanwhile, the Federal Reserve soured the mood on Wall Street in the previous session by raising rates. Also weighing on investors are fears that US officials may fail to reach a deal on raising the US debt ceiling, triggering a damaging default as early as next month.  On Market View, the Drive Time team dived into the details with Terence Wong, CEO, Azure Capital.

Our next guest, sustainable packaging firm TRIA (pron as it is) together with KFC Singapore, has launched the world’s first closed-loop single-use packaging solution through a pilot programme in September last year. And their initiative aims to catalyse circularity in the F&B industry. But what goes behind the scenes when producing a sustainable food packaging product? Lin Qing Yao, Senior Operations Manager, TRIA shares more with us.