Under The Radar

Satellite technology has brought about a number of benefits for people on the ground, such as improved weather forecasting and communications.  In particular, a type of satellite called the Synthetic Aperture Radar or SAR satellites, can monitor ground activity 24/7 and penetrate rain, smoke and cloud cover, allowing governments to monitor weather conditions such as tropical storms and wildfires.  And that’s exactly what our guest does. Established in 2018, Synspective is a Japanese end-to-end satellite data and solution provider. The startup has a SAR satellite constellation that enables high-frequency and high-resolution Earth observation.  It combines the data collected with machine learning and data science techniques to derive insights on issues such as flood damage, land displacement and forestry inventory management. The insights are then provided to both private and public sector clients, such as government agencies.   But why are we speaking to Synspective? Well, the firm is seeing a number of interesting developments of late.  For one thing, it was awarded a 4.1 billion yen grant by the Ministry of Economy, Trade and Industry Japan  to develop innovative applications using SAR satellites as at the end of 2023. So what can we expect on this front? Meanwhile, the startup also signed an agreement with Uzbekistan’s Centre for Space Monitoring and Geoinformation Technologies and the national space agency of Kazakhstan, the Kazakhstan Gharysh Sapary in January to carry out research or develop new applications to collect data for disaster management. But how far is Central Asia a bright spot for Synspective? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Vincent Kessler, General Manager Synspective SG.

Investing in next-generation infrastructure for the future – that’s what we’re going to talk about today.  Named after the tallest tree in Singapore, Seraya Partners is a Singapore headquartered private equity firm that focuses on mid-market Asia infrastructure.  The firm invests in areas such as digital infrastructure and the energy transition, and aims to address what it describes as “the region’s burgeoning trillion dollar infrastructure gap” amid mega trends such as intensive climate change, rapid urbanisation and ageing infrastructure. So far, the Seraya Partners raised S$800 (or S$1.08 billion) for its Asia infrastructure fund that focuses on digital infrastructure and energy transition investments in what’s said to be an oversubscribed round.  The PE company said it secured capital from global institutional investors including sovereign wealth funds, pension funds, insurers and family offices in North America, Europe and Asia Pacific.  Limited partners included Asian Infrastructure Investment Bank, Alberta Investment Management, as well as funds and accounts managed by BlackRock.  The firm added that 50 per cent of funds had already been allocated to data centre operator Empyrion DC, offshore wind farm vessel operator Cyan Renewables and solar, wind and energy solutions developer Astrid Renew. But how much money is in this pool? What is the ROI expected by the participants in its Asia infrastructure fund? Also – where is the firm looking to deploy the remaining funds?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to James Chern, CIO and Managing Partner, Seraya Partners. 

It is all about the bowl of noodles we eat as we speak to one of the leading restaurant groups in Hong Kong today.  Bingo if you’ve guessed Tam Jai International, the company behind the TamJai Yunnan Mixian, Tam Jai SamGor Mixian and Japanese udon brand Marugame Seimen.  Listed on The Stock Exchange of Hong Kong Limited since October 2021, Tam Jai International has rapidly expanded its global reach and has a footprint of over 200 stores across markets such as Hong Kong, Mainland China, Singapore and Japan.  In Singapore, the firm has 11 stores under the brand name TamJai SamGor. But how far is this done through a franchise model?  Which is the most important geographical market for the firm for TamJai International?  Also – how far has the export of other brands such as LuckIn Coffee and Mixue helped improve the reception of products like Mixian in markets outside of the Greater China region?  Speaking of expansion, the firm recently entered into a joint venture agreement with ST Group Food Industries Holdings to expand into Australia, marking the Group’s first foray into a Western market and through a franchise model.  The Group also announced a potential franchise partnership with a subsidiary of Philippine conglomerate Suyen Corporation on its proposed entry into the Philippine market.  But what can we expect on this front and how far will a franchise model reshape Tam Jai International’s growth trajectory? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Daren Lau, Chairman, Executive Director and CEO, Tam Jai International.

Today we’re going to speak to a wholly owned subsidiary of Alibaba Group that focuses specifically on travel arrangements. Launched in 2016, Fliggy is an online marketplace that helps users in and out of China to book for flights, accommodation, train tickets, group travel essentials and attraction tickets.  The firm said it leverages Alibaba Group’s product and technical development abilities to enhance its user experience and service capabilities to better meet consumer’s needs.  So far, the platform has a user base of over 320 million registered users. But what is the significance of Fliggy to the wider Alibaba Group?  And where does the company fit in Alibaba’s portfolio, after the parent company announced a restructuring effort in March 2023? Meanwhile, Alibaba said Fliggy’s gross merchandise value sales increased rapidly year-over-year during the quarter ended September 2023, driven by a strong recovery in both domestic and international travel demands.  But what is the magnitude we are looking at and how is Fliggy positioning itself for future growth? Are there any plans to also list Fliggy on regional stock exchanges soon? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Simeon Shi, Chief Strategy Officer, Fliggy.

This conversation is set to get you itching to go on your next holiday. Make a guess as to who our guest is for today.  Drumrolls – we’re talking to the low-cost subsidiary of Singapore Airlines, Scoot, or the airline that merged with Tigerair Singapore about seven years ago.  Since taking to the skies in 2012, Scoot has carried over 82 million passengers and has a fleet of over 50 aircrafts, comprising widebody Boeing 787 Dreamliners and single-aisle Airbus A320s.  And it appears that 2024 will be an exciting year for the carrier amid the ongoing travel recovery.  The International Air Transport Association, or IATA, for one thing, expects the number of passengers travelling by air to surpass 2019 levels and reach a whopping 4.7 billion this year. That said, with air travel capacity tipped to increase this year, what will the robust demand mean for air ticket prices?  Speaking of capacity, Scoot is adding nine new Embraer E190-E2 aircrafts from this year to 2025 to support its network growth strategy. But why did the firm opt to source its planes from another airline, and what will this mean in terms of profitability? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to  Calvin Chan, Chief Commercial Officer, Scoot.

What is the one common factor between an astronaut on the international space station, billionaire Elon Musk, and South Korean actor Song Joong Ki? The answer might make you go ‘What, Seriously?’ Now, are you ready for the answer? Well, the answer is that all three of them eat Kopiko candies at some point in their lives.  If you’re a K-drama lover, you might have noticed Kopiko candies appear out of nowhere  – sometimes almost as frequently as Subway – in the middle of your favourite shows.  And in 2017, a then-Twitter post by the official International Space Station account showed a group of astronauts enjoying their Thanksgiving dinner, with Kopiko candies in the picture.  Fast forward to 2022, Elon Musk was offered Kopiko candies by Indonesia’s minister of maritime and investment affairs when they met in Texas. The billionaire tried the candied treat for the first time and was caught in video raising both his thumbs.  But what have these got to do with money you might ask. Believe it or not, shares of Kopiko’s owner Mayora Group jumped 7.3 per cent as a result of the video featuring Elon Musk.  So what is Kopiko’s secret to building a strong brand both organically and inorganically, and what is the financial reward for doing so?  Also – what is the return on investments in promotional strategies such as product placements?  And how far is Kopiko’s proliferation into K-dramas a good strategy for the firm to position itself as a global brand? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Pak Ricky, Director and Global Marketing Director, Mayora Group. 

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.

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.

Today we’re going to talk about a medical issue that up to 60 per cent of children will have by the age of six.  And that is a condition called Otitis Media, also known as OME or ‘Glue Ear’. According to HealthHub SG, glue ear refers to the collection of fluid in the middle ear which frequently occurs after an upper respiratory tract infection.  While the issue resolves by itself in most cases, the process can take up to three months. In fact, ‘Glue Ear’ is the number one cause of a child’s hearing loss, visits to doctors and surgeries. But not everyone can get access to such surgery, as the procedure can be too expensive. The hospitals that perform them are also too far away from people located in remote areas.  It is said that 120 million surgeries are needed a year while only 18 million get the surgery at the moment.  And that is the gap that our guest NousQ aims to fill.  Founded in July 2021, NousQ is a medtech firm that focuses on the R&D, manufacturing and commercialisation of innovations that bravely and sustainably disrupts healthcare delivery to serve large unmet needs.  Its flagship product, CLiKX, is the world’s first handheld, robotic, and automated surgical applicator that inserts a ear tube onto the eardrum to treat glue ears.  The process takes just one second, without the need for an operating theatre. It also reduces costs and risks by four times.  But how does NousQ intend to commercialise its CLiKX product to ensure affordability? What is needed to build up a distribution network that penetrates deep into remote areas with high prevalence of the Glue Ear condition? Also – how does the firm balance generating impact versus the revenue and profits? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to  Dr Lynne Lim, Founder and CEO, NousQ.

Today we’re going to deep dive into an all-time favourite – S-Reits that is!  Our guest is the Lendlease Global Commercial Trust Management, the manager of Lendlease Global Commercial Trust Management or Lendlease Reit. Listed on the Singapore Exchange in 2019, Lendlease Reit was established with the principal investment strategy of investing in a diversified portfolio of stabilised income producing real assets used primarily for retail and office purposes.  Its portfolio properties comprise leasehold properties in Singapore including Jem, 313@somerset as well as a freehold interest in Sky Complex in Milan, Italy.  The buildings have a total net lettable area of about 2.1 million square feet, with an appraised value of S$3.65 billion as at the end of June 2023.  But what is the capitalisation rate (or the ratio between the net operating income to market value of its properties) of these properties with the global economy reeling from the effects of the COVID-19 pandemic and with working from home becoming a trend of the future?  And with interest rates remaining at elevated levels, how does Lendlease Reit assess its gearing right now? What is the outlook ahead with the US Federal Reserve set to cut interest rates as early as in the second quarter of the year? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Kelvin Chow, CEO, Lendlease Global Commercial Trust Management.