Under The Radar

There is arguably no higher recognition than the Michelin star in the Food and Beverage scene.  And the company we’re speaking to was once called the most affordable Michelin-starred restaurant chain in the world.  Make a guess, and perhaps think on the lines of dim sum and BBQ pork buns. Bingo if you’ve guessed Tim Ho Wan! Tim Ho Wan’s story can be traced back to 2009. That’s when Chef Mak Kwai Pui, who’s formerly from the prestigious three Michelin starred Lung King Heen restaurant in Hong Kong’s Four Seasons Hotel teamed up with Chef Leung Fai Keung to open a 20-seater dim sum restaurant in Mongkok.  The business thrived as people came for its hot steaming buns, chee cheong fun, and siew mai, and the restaurant earned one Michelin star just a year later.  The rest, as they say, is history, as more restaurants opened, with each earning its own Michelin star.  In 2013, Tim Ho Wan made its international debut by opening its restaurant at Plaza Singapura in Singapore, drawing long lines and widespread attention. The chain has since gone on to open more locations around the world, and boasts over 80 outlets globally.  But while Tim Ho Wan may be a household name, did you know that it is closely related to a fast food chain from the Philippines called Jollibee? In November 2024, Jollibee’s parent company, or Jollibee Food Corporation, announced the full acquisition of Tim Ho Wan, by paying S$20.2 million for an 8 per cent stake of the company held by other investors.  So how has the firm fared some six months after being a subsidiary of Jollibee Foods Corporation? How will the company ensure the quality of its menu items amid the change?  And how will being a part of the Jollibee ecosystem help the firm achieve its growth ambitions around the world? On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Yeong Sheng Lee, CEO, Tim Ho Wan International.

We’re taking you to the skies today as we explore the ins and outs of the aerospace industry with GE Aerospace, the maker of the engines powering Boeing and Airbus jets globally. Fun fact, GE Aerospace used to be a subsidiary of General Electric – a conglomerate founded by Thomas Edison – the man who was credited with commercialising the good old light bulbs.  That was before GE was split into three separate companies namely GE Aerospace, GE Vernova (that’s the energy unit) and GE Healthcare in April 2024. Back to GE Aerospace, the firm today is a world-leading provider of engines, as well as integrated systems for commercial, military, business and general aviation aircraft.  The company’s business can be generally split into two major verticals, namely (i) Commercial Engines & Services (CES) and (ii) Defense & Propulsion Technologies (DPT). Its presence is felt all around the world and particularly so in the Asia Pacific region. After all, the firm set foot in APAC over 40 years ago and now has a footprint in over 25 countries serving over 110 clients. The firm says over 3,800 engines made by GE Aerospace and its joint venture company CFM International engines power flights across the region.  But why are we speaking to GE Aerospace you might ask? Well, we want to find out how the firm is doing right now one year after it started operating as a standalone company and how it intends to navigate an uncertain operating environment in the near term. Meanwhile, GE Aerospace had also in July 2024 announced plans to invest over US$1 billion over five years in its Maintenance, Repair and Overhaul (or MRO) and component repair facilities worldwide. But what was the rationale behind the move and what can we look forward to right here in Singapore? On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Iain Rodger, Managing Director, GE Aerospace Singapore.

The property market is in focus today as we speak to a leading real estate technology company that operates real estate portals across South East Asia. Launched in 2014 as 99.co, our guest 99 Group was conceived during the 2008 US mortgage subprime crisis, an event which the firm believed was “born out of desire and misinformation”.  The founding team at 99 Group hence made it a point to make the company into a simple and trusted platform to un-complicated the property journey.  This can be seen in the firm’s positioning strategy, where it aims to differentiate itself from other property search websites through its user-friendly designs, with features including price analysis data, finance planners, smart filters, as well as the ability to search by map or commute time.  Fast forward to today, 99 Group is said to be one of the fastest growing property portal firms in the region, with a presence in both Singapore and Indonesia.  The group is said to specialise in digital property advertising and has a portfolio of three brands: namely its flagship 99.co property portal and SRX.com.sg right here in Singapore, as well as 99.co/id and Rumah 123 in Indonesia. So far, 99 Group said it has achieved what it described as solid growth, with revenues of US$17 million recorded for 2023, a CAGR of 47% since 2019.  But what are the key trends the firm is capitalising on to take it forward and which are the markets with the biggest potential in the region? And what are the challenges for proptech firms even as Southeast Asia rises as a hotbed for property technology or proptech innovation?   Meanwhile, the ongoing narrative about interest rates in the region continues to weigh on home buyers’ and investors' minds. So how far has this influenced the types of listings that appear on 99 Group’s platforms and how is the firm attracting and showing the right listings to its consumers to increase retention and action? On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Darius Mahtani Cheung, Founder and CEO, 99 Group.

Money Matter’s finance presenter Chua Tian Tian started her day early at Raffles City Convention Centre to speak with enterprise blockchain and cryptocurrency player Ripple.  That is because the firm’s global leadership team flew in from the US for Apex 2025, or what’s said to be the largest annual summit on the XRPL calendar bringing together developers, businesses, fintechs, researchers, VCs and more. Founded in 2012, Ripple uses blockchain technology to help global financial institutions, businesses, and developers to move, manage and tokenise value.  In Singapore, the firm received in-principle approval by the Monetary Authority of Singapore in November 2024 to offer digital payment token products and services in the country. So what should we know about the significance of Singapore as a market to Ripple, as well as the firm’s plans for the region? Meanwhile, what is also worthy of note is how the US Securities and Exchange Commission has decided to settle a long-running legal battle against the firm.  While the lawsuit may be over, how far is Ripple's plans in APAC a response to regulatory challenges in the US, and how is the firm then navigating the regulatory landscape in Asia? On this “On the Go” Special episode of Under the Radar, Tian Tian posed these questions to Monica Long, President, Ripple.

The NRF 2025: Retail’s Big Show Asia Pacific at Marina Bay Sands Singapore runs from the 3rd to 5th of June 2025, with MONEY FM bringing you three LIVE “Under the Radar” conversations during this period.  Themed “Retail Unlimited”, NRF 2025 promises limitless possibilities in retail, from enhanced customer experiences to digital transformation strategies. It also aims to foster conversation among leaders in the global retail system, with representatives from over 25 retail associations worldwide in attendance.  In part three of this three part Under the Radar Specials series broadcast LIVE at NRF 2025: Retail’s Big Show Asia Pacific, Money Matters’ finance presenter Chua Tian Tian spoke with Jill Dvorak, Senior Vice President, Content, National Retail Federation (NRF) on the role of the NRF in shaping conversations in the APAC retail ecosystem and how this has been achieved through NRF 2025 in Singapore.  The duo also dived into key content tracks at the retail show, and what they mean for retailers. 

The NRF 2025: Retail’s Big Show Asia Pacific at Marina Bay Sands Singapore runs from the 3rd to 5th of June 2025, with MONEY FM bringing you three LIVE “Under the Radar” conversations during this period.  Themed “Retail Unlimited”, NRF 2025 promises limitless possibilities in retail, from enhanced customer experiences to digital transformation strategies. It also aims to foster conversation among leaders in the global retail system, with representatives from over 25 retail associations worldwide in attendance.  To encourage more exchanges and activity, the event capacity has been doubled to accommodate over 10,000.  Several new features are also in store this year, including an exclusive CEO club or a gathering space for top retail executives to exchange ideas on the biggest trends and issues keeping them up at night.  In part two of this three part Under the Radar Specials series broadcast LIVE at NRF 2025: Retail’s Big Show Asia Pacific, Money Matters’ finance presenter Chua Tian Tian spoke with Ryf Quail, Managing Director for APAC, Comexposium. Composium is the organiser of NRF 2025: Retail’s Big Show Asia Pacific for an overview of the event.

The NRF 2025: Retail’s Big Show Asia Pacific at Marina Bay Sands Singapore runs from the 3rd to 5th of June 2025, with MONEY FM bringing you three LIVE “Under the Radar” conversations during this period.  Themed “Retail Unlimited”, NRF 2025 promises limitless possibilities in retail, from enhanced customer experiences to digital transformation strategies. It also aims to foster conversation among leaders in the global retail system, with representatives from over 25 retail associations worldwide in attendance.  In part one of this three part Under the Radar Specials series broadcast LIVE at NRF 2025: Retail’s Big Show Asia Pacific, Money Matters’ finance presenter Chua Tian Tian speaks to Samuel Sanghyun Kim, Vice Chairman & Group CEO, Lotte Retail for an inside look into the retail arm of one of Asia’s largest and most diversified conglomerates – Lotte Group.  Samuel and Tian Tian talked about Lotte Retail's business verticals, as well as the bright spots for growth, its recent moves to expand in Southeast Asia and in Singapore, as well as its plan to invest US$5.06 billion in shopping malls by the end of the decade to diversify its portfolio.

It’s all about the payments landscape today as we speak to a global leader in real-time cross border payments.  Founded in 2014, our guest for today is fintech player Nium, a company whose mission is to deliver the global payments of infrastructure of tomorrow, today.  And there is an interesting story behind how the company came about. The firm was born out of frustration after its co-founder Prajit Nanu faced numerous challenges in sending money from India to Thailand to arrange a bachelor’s party for his friend.  A Thai resort had refused to use his credit card and had insisted on a bank transfer of US$640. And while you might imagine the transfer to be a relatively seamless process, Nanu’s bank in India required an extensive list of documents to facilitate the transaction.  But such issues may be a thing of the past. After all, Nium said its payout network supports 100 currencies and spans over 220 markets, 100 of which in real time.  Funds can also be disbursed to accounts, wallets and cards and collected locally in 35 markets. The firm also has a growing card issuance business available in 40 countries.  With its proposition and its extensive payment network, the San Francisco and Singapore headquartered firm achieved the unicorn status after a series D funding round in 2021. It is valued at US$1.4 billion as of September 2024.  But why are we speaking to Nium you might ask? Well, Nium had in November 2024 opened its new headquarters in Singapore. Its Singapore headquarters will serve as the firm’s strategic hub for the Asia Pacific, the Middle East and Africa regions.  So how far will the new headquarters position the firm for exponential growth? Did the firm also set up its headquarters here to be closer to its largest shareholder – Singapore’s Temasek? Meanwhile, the firm also said then that it aims to go public within two years. Again – to what extent is the firm on track to do so?   On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Anupam Pahuja, EVP and General Manager of Asia Pacific, the Middle East and Africa, Nium.

Money Matter’s finance presenter Chua Tian Tian was at Sentosa to attend the Asia Tech x Singapore or ATx Summit held at Capella Singapore.  Organised by the Infocomm Media Development Authority of Singapore or the IMDA, the event covers a range of topics such as agentic and embodied AI, space satellite and communications, quantum compute and digital sustainability through a series of plenary sessions.  There is also a variety of forums and roundtables to facilitate closer partnerships between the public sector and the digital industry.  Among them, is the first OpenAI Forum in Asia. The series is aimed at sparking thoughtful dialogue on how AI can enhance culture, society, and everyday life.  The forum session dived into OpenAI’s first ever museum partnership in Asia, with the Peranakan Museum and in collaboration with Ask Mona, a French AI studio that specialises in cultural experiences.  In a pilot collaboration, they came up with ways for museum visitors to speak to artifacts like a kamcheng jar or the traditional Peranakan attire using AI-generated conversations, and provide a fresh and interactive way to connect people with heritage ahead of Singapore’s SG60 celebrations. Tian Tian found out more about the experience from Sandy Kunvatanagarn, Head of APAC Policy at OpenAI. 

In November 2023, the Singapore Land Authority, the Singapore Tourism Board, and the Urban Redevelopment Authority launched a collective tender to appoint a master tenant to rejuvenate a row of shophouses along Smith Street, as well as the adjacent pedestrian mall. That’s where the former Chinatown Food Street was located before it lowered its shutters in 2021, amid the Covid-19 pandemic. In part two of this two-part “On the Go” Specials of Under the Radar, Money Matters’ finance presenter Chua Tian Tian joined Carrie Wong, Director of Business Planning, Singapore Land Authority at Chinatown for a preview of the rejuvenated site.  They also discussed the features to watch out for as shops along the refreshed site progressively open.