Under The Radar

It’s all about intellectual property today as we speak to the Asian subsidiary of Japan’s leading entertainment conglomerate Avex Group.  If you’ve been a J-pop fan, you might recall Avex starting out as a wholesaler of imported music records in 1988.  The company has now expanded into diverse business areas such as record labels, live music performances, animation and filmmaking. It also manages music artists such as pop icon Ayumi Hamazaki.  Back to Avex Asia, the subsidiary specialises in brand licensing, artiste management, live events and concerts, anime production, content creation and digital streaming in the region.  It represents some of the world’s top intellectual properties including Pokemon, Rilakkuma, Sumikko Gurashi, Sonic The Hedgehog, Hello Kitty, forming collaborations across broadcasting, consumer products, marketing promotions as well as location-based entertainment. Now, Avex Asia’s licensing business is one that we want to focus on today, given how Asia is said to contribute over 30 per cent of all franchised businesses worldwide.  But why is Asia a hotspot for franchised business, and what are the trends shaping the franchising and licensing landscape in the region? How is Avex Asia tapping into these trends, and what intellectual properties does Avex Asia want to procure to better serve consumers in the region?  Speaking of acquiring IPs, Avex Asia recently expanded its portfolio to include sports licensing of Spanish Football giant, FC Barcelona for Southeast Asia and Japan. But why did the firm choose to enter into sports licensing and what are the opportunities it sees in sports licensing? On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Edmund Low, General Manager, Avex Asia.

In today’s session, we speak with a trailblazer in the Asian electric vehicle industry to find out all about the new venture he is involved in.  Joining us all the way from Taipei, Jack Cheng is Co-Founder of electric vehicle maker NIO and was formerly the Chairman of Fiat (China) Automobiles, and is now the chairman of a company called M Mobility.  M Mobility is a startup that aims to commercialise ideas formed within a Foxconn-led consortium called MIH platform.  For context, MIH, or Mobility in Harmony Consortium, is an organisation initiated by Foxconn to create an open EV ecosystem that promotes collaboration in the mobility industry.  The consortium realises key technologies, develop reference designs and standards, while bridging the gap between members in the ecosystem to lower barriers to entry, accelerate innovation, and shorten development cycles.  The goal is to bring strategic partners together to build the next generation of EV, autonomous driving and mobility service applications.   So back to M Mobility, the startup crafts EV solutions tailored for mobility service providers and fleet operators. It aims to connect innovative EV designs with the global supply chain. But what does the firm mean exactly by that and what is its value proposition exactly?  Meanwhile, M Mobility had in October 2023 became the first open EV platform licensee of the MIH Consortium. But how has it made use of MIH Consortium’s platform thus far?  What is also worthy of note is that the firm is said to be backed by Indian information technology services and consulting firm Tech Mahindra, and is working with Sumitomo Corporation EV services arm Hakobune to change the way people view mobility. But where do the different players come in to support M Mobility’s growth? On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Jack Cheng, Chairman, M Mobility.

We’ve taken you through the ins and outs of over 300 companies globally over the past two years. That’s almost one company every one or two working days – rain or shine.  But there is one company that we have not talked about all this time. And that is the company behind our radio station MONEY FM 89.3. Yes we are talking about the Singapore Press Holdings or more specifically what’s now known as SPH Media. With its legacy tracing back to the years 1845 and 1923 with the first runs of the English daily The Straits Times and the predecessor of Chinese newspaper Lianhe Zaobao, SPH Media is a leading media group with operations in publishing print and digital newspapers, magazines and books.  The firm started out as SPH Limited in August 1984 where it brought together newspaper brands from two companies, namely The Straits Times Press Group (STP) and the Singapore News and Publications Limited (SNPL), as well as two other publishing, production and distribution companies called Times Publishing Bhd (TP) and Singapore Newspaper Services Pte Ltd (SNS). At that point, the company published seven newspapers in three languages – The Straits Times, Berita Harian, The Business Times, Lianhe Zaobao, Lianhe Wanbao, Shin Min Daily News and the Singapore Monitor.  The mission is to be the trusted source of news on Singapore and Asia and to represent the communities that make up Singapore and to connect them to the world. Over four decades have passed since and the business has now expanded to also own and operate radio stations and outdoor media, including MONEY FM 89.3. SPH Limited also underwent a restructuring of the media business, with SPH Media taking over SPH Limited’s entire media related business and operating as a public company limited by guarantee.  But why are we speaking to SPH Media you might ask? Well, we want to find out how SPH Media is preparing for the future as media companies around the world transform their century old business models in a digital world.  We also want to talk about the rise in news consumption through social media platforms and what that means for traditional media. Also on the agenda – how the rise in social media usage changes the way mainstream media outlets create, promote and distribute their news stories.  On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Chan Yeng Kit, CEO, SPH Media.

From a metal shop to an automotive giant – we’re going to go on an adventure today, to look at how carmaker Peugeot made history in the 21st century, and how it intends to charge ahead.  Founded in 1810 in the midst of the industrial revolution by Jean-Frederic and Jean-Pierre II Peugeot, the company came about when the Peugeot family transformed its hydraulic mill into a steel mill.  With the steel mill, various branches of the family started expanding into manufacturing to produce a wide range of products, all based on steel.  Think along the lines of tools, springs, umbrellas, whales, corset frames, watch pieces, bicycles and more. Years went by, and then came a family member called Armand Peugeot who is crucial to the entire story.  As someone who was fascinated by engineering, Armand Peugeot came up with the first Peugeot-branded automotive vehicle in 1889, a steam-driven, non-commercialised 3-wheeler. That sowed the seeds for the modern day Peugeot. In 2021, Peugeot and Fiat Chrysler Automobile merged to form Stellantis, becoming the world’s third largest automaker by vehicle sales. Today, Peugeot is said to offer the widest electric vehicle line-up of any European mainstream brand, covering all needs from urban cars to commercial vehicles.  But how has Peugeot’s positioning changed over the centuries, particularly post merger? Also – how is Peugeot as a brand doubling down on the electrification trend, especially with the discontinuation of its 508 model to make way for EVs?  On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Linda Jackson, (then) CEO, Peugeot. ************ Additional Note: Shortly after the Part 1 of the interview went out, Stellantis, the parent company of Peugeot, announced a series of changes to its top leadership, including at Peugeot.  As part of the changes, Alain Favey was announced as the new CEO of Peugeot, taking over from Linda (Jackson) who has retired after 20 years with the company. It's been a privilege to speak with Linda in one of her last interviews with the media in her capacity at Peugeot, and we wish her all the best in her future endeavour. *************

You’ll more or less notice the signage of this company if you drive along the Tampines Expressway towards the airport - rain or shine. Here’s another hint – it is located within the Tampines Retail Park along with Giant hypermart.  If you’ve guessed COURTS, then bingo, you’ve got it right. But have you ever wondered if COURTS is a Singapore or a Malaysian furniture chain or who actually owns COURTS these days? Well, we will bring you all the answers in this interview.  With roots as a furniture retailer from the UK, COURTS started operations in Singapore half a century ago in 1974 and has since expanded to 13 stores spanning over 464,000 square feet of retail space. The firm expanded to Malaysia in 1987 and most recently ventured into the Indonesian market in 2014.  Once known as COURTS Asia Limited, the firm was previously listed on the mainboard of the Singapore Exchange in October 2012. That was until 2019, when Yokohama-based electrical appliance retailer Nojima Corporation bought over the company’s shares. Today, COURTS is wholly owned by Nojima Corporation, which runs over 900 stores and has a market capitalisation of S$1.8 billion on revenues of S$6.6 billion. So how has the firm changed over the years with Nojima Corporation as its parent? Meanwhile, COURTS is also an interesting company to look at because of its efforts to refresh its offerings to target the next generation of furniture shoppers.  For one thing, the firm had in 2019 opened its first internet-of-things store at Funan to better cater to smart home shoppers. It also opened the 189,000 square feet COURTS Nojima in 2022 to provide an experiential retail space for shoppers.  But how far has the firm’s moves captured the hearts of younger consumers and what are the key drivers of growth in the furniture industry as brick and mortar chains compete against online retailers?  On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Harry Higashiura, Group Chief Commercial Officer, Nojima APAC and Country CEO of Singapore and Malaysia, COURTS.

From making 186 deliveries on day one to about 17 million today.  That’s a reflection of the growth of logistics giant FedEx through the years since it was first founded half a century ago in 1971.  At that point in time, FedEx was known as the Federal Express Corporation, with the word “federal” suggesting an interest in nationwide economic activity in the US.  Fun fact – it was meant to resonate with the US Federal Reserve Bank, which is a potential customer for the logistics player.  You might have recalled us talking to FedEx over a year ago on the show, and today we’re going to get an update as to how things are going for them right now.  Financially, the firm had in December 2024 reported second quarter earnings per share of US$4.05 in line with expectations. Revenue though, came in at US$22 billion for the quarter, slightly lower than the US$22.17 billion expected.  The firm’s CEO Raj Subramaniam said the results come despite several headwinds, including continued weak US domestic demand and the expiration of its US Postal Service contract. He said the showing demonstrates that the firm’s efforts to transform its operations have been working. But what were the key drivers of growth bolstering the numbers, and how far did Asia Pacific contribute to the firm’s top line numbers?  Speaking of Asia Pacific, the firm also said in 2024 that it will consolidate some Asia-Pacific, Middle East and Africa functions in Singapore to connect all of its operations in the region with greater speed and agility. But what should we know about the move? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Kawal Preet, President, Asia Pacific at FedEx.

Today we’re going to bring you an inside look into an Italian pharmaceutical firm with over 135 years of history.  Founded in 1886 in Naples under the name of Farmacia Internazionale, our guest for today is from Menarini Group, a leading pharmaceutical and diagnostics company with a presence in over 140 countries.  The firm prides itself as a leading provider of important healthcare brands, with its 18 manufacturing plants producing over 609 million packets of products a year.  To this end, Menarini said it operates across the entire commercial value chain, from clinical development, regulatory approval and product launch to lifecycle management with a diverse portfolio of proprietary and partnered brands in key therapeutic fields.  That includes Consumer Health, Dermatology, Allergy or Respiratory, Gastroenterology, Cardio-metabolic, Anti-infectives, Oncology or Specialty Care and more. All in, Menarini reported consolidated turnover of 4.375 billion euros in 2023, with international markets contributing 79% to the numbers. But how much of this is contributed by demand from the Asia-Pacific region?  Meanwhile, Menarini is also seeing a number of interesting developments of late. For one thing, Menarini APAC had in June 2024 expanded its partnership with Pharmacosmos to tackle iron deficiency in patients in Singapore and Malaysia.  So just how important are such licensing deals and partnerships in helping Menarini broaden its offerings while lowering R&D costs? On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Glen Godresse, CEO, Menarini APAC.

Cleaning barnacles and algae off the hulls of some of the world’s largest liners – that’s the work of our guest for today.  Founded in 2018, Neptune Robotics is a pioneer in AI-powered robotics and uses robots to reduce biofouling or an accumulation of microorganisms, algae, plants and animals on ship hulls. For context, removing biofouling and hull cleaning is important for the maritime industry because it helps ships reduce drag and consequently fuel consumption. It could also result in the transfer of invasive aquatic species to different parts of the world as the vessel travels.  The process can be done by traditional divers. But in the case of Neptune Robotics, the firm is able to use its proprietary robots called Magneto to do so.  The firm is also said to have raised the industry standard by countering currents of 1 knot to 4 knots to allow for 24-hour cleaning a day in anchorages, instead of the 4 hours a day of traditional cleaning by divers.  Neptune Robotics started commercial operations in 2020 and has seen its cleaning services expanded to 60 ports in Asia and endorsed by some of the world’s largest liners, shipowners and operators.  The firm has also reportedly received US$17.25 million in series A investments in 2022 and is currently backed by Sequoia China, the venture capital giant behind Apple, Whatsapp and Shein. Why are we speaking to Neptune Robotics you might ask? Well, the firm had in November 2024 expanded to Singapore, bringing its service coverage to over 55 per cent of the international merchant vessels’ stops. The expansion in Singapore would allow the firm to support shipowners and operators along China-Singapore shipping routes.  But really how important is Singapore as a market for the firm? Also – what are the longer term opportunities for the firm as the maritime industry seeks to address the issue of biofouling to push ahead on their decarbonisation agenda?  On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Elizabeth Chan, Co-founder & CEO of Neptune Robotics.

Converting complex data landscapes into actionable insights that can drive strategic business outcomes.  That’s the work of our guest for today, Qlik. Founded in 1993, Qlik is a software company that focuses on data integration, analytics and artificial intelligence, providing enterprise grade artificial intelligence and machine learning powered solutions that work with diverse data sources.  The firm serves over 40,000 global customers including some of the brands that we interact with on a day-to-day basis.  Take for instance, Dominos Pizza. In this scenario, Qlik built a comprehensive data tracker to streamline Dominos Pizza’s 85,000 data sources into a single view of its customers and global operations. Another example would be how Qlik worked with Urban Outfitters to reduce the time taken to complete store level reporting from hours to minutes. But who does Qlik work with right here in Asia? What should we know about its business and the opportunities present in the region? Meanwhile, Qlik is also an interesting company to look at right now because it is expanding through both organic and inorganic means.  It had in November 2024 announced the launch of a new cloud region in Mumbai to enhance its global cloud infrastructure and meet growing demand for local data storage and advanced AI capabilities. But what are the opportunities in India and how far would a deeper presence in India benefit regional ASEAN markets?  The firm had also in May 2023 acquired data management vendor Talend, but how has it integrated the firm into its business, and how has the acquisition benefitted Qlik more than one year down the road? On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Chong Yang Chan, Managing Director, ASEAN & Greater China Region, Qlik.

It’s a deep dive into the private equity landscape as we speak to an investment firm that’s indirectly owned by Temasek Holdings.  Set up in 2015, our guest Azalea Investment Management defines itself as being in the business of PE investments, with a focus on the development and innovation of new investment platforms and products.  The firm said its goal is to bring private assets to a wider investor base through a phased approach, while educating the investing public at the same time. Azalea Investment Management achieves this through two investment programmes or platforms, (1) the Altrium programme as well as the (2) Astrea Platform.  Under the Altrium programme, accredited investors can co-invest with Azalea and access strong performing private equity fund managers globally, but with lower barriers to entry.  The Astrea Platform, on the other hand, is a series of investment products developed based on diversified portfolios of PE funds. The platform is said to target long-term minded investors including Singapore retail investors looking to co-invest in private equity with the asset managers.  But why are we speaking to Azalea Investment Management you might ask? Well the firm had closed a number of funds of late. In July 2024, the firm’s Astrea 8 PE bonds closed 2.8 times subscribed at over S$1 billion, with bonds distributed to diversified investors across institutions such as endowments, pensions and insurance companies as well as accredited investors. More recently, it had in October closed two funds at over US$480 million as a whole, higher than the US$400 million target for both funds combined.   But how does the firm assess the outlook for private markets in 2025 and what is next for its product line up?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Chue En Yaw, Chief Investment Officer, Azalea Investment Management.