Under The Radar

Using artificial intelligence to help banks dig up dirt on non-public companies in Singapore, Hong Kong and China. That’s what our guest for today aims to do.  Founded in 2023, Inriskable uses AI and alternative data sources, such as company information, litigations, news and directors information to help professionals identify credit risks and information regarding these private companies.  Through AI-driven analysis and data-driven decision making, the firm hopes to help professionals make more informed judgments when assessing the business information and financial capability of SMEs.  The firm said this would enhance risk management and sales prospecting processes and improve the accuracy of identifying potential defaults or fraudulent activities.  So far, Inriskable holds 800 million pieces of company data across regions, and has over 280,000 global unique users. But how is the firm monetising on its user and database? What numbers are we looking at when it boils down to valuation?  Speaking of valuation, the global Regtech market was valued at US$12.54 billion in 2023 by Spherical Insights & Consulting, with that number expected to balloon to  US$81.48 billion by 2033. We are talking about a CAGR of 20.58% during the forecast period.  But how does Inriskable see itself within the global regtech market and what will be the key drivers of growth for the firm looking ahead? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Megan Chau, CEO, Co-founder of Inriskable.

It’s all about making FMCGs more accessible to consumers in rural Indonesia today.  With a population of over 277 million people, Indonesia is Southeast Asia’s largest economy, with a GDP of around US$1.32 trillion back in 2022.  At the same time, data from Statista showed Indonesian households allocating almost a fifth of their household expenses for FMCGs since 2018.  While the numbers look promising, about forty per cent of Indonesian reside in the rural parts of the country, making accessibility a key challenge for consumers.  The internet appears to be key to bringing FMCGs to the consumers, with over three quarters of people (77%) in the country using the internet on a regular basis.  And that’s exactly what our guest for today leveraged to tap underserved rural communities in Indonesia. Founded in 2018, Aplikasi Super is a social commerce startup that aims to enable community leaders to become retailers of their own by selling through its Super app.  The company operates a central warehouse and works with third-party logistics providers to deliver FMCG items to these community leaders, who are individuals or mom-and-pop shops called warungs. That’s done within a day of placing the order. According to a TechCrunch article out in June 2022, the firm said then that it boasts a network of thousands of community agents, distributing millions of dollars of items to communities each month. But what are the numbers looking at right now? Meanwhile, the firm had in June 2022 raised US$70 million in an oversubscribed Series C round. Those participating in the round included the likes of Insignia Venture Partners, SoftBank Ventures Asia, B Capital and more. Question is – how has the money been used thus far and how far has the capital injection augmented the firm’s growth trajectory? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Alfred Ali, Chief Product Officer, Aplikasi Super. 

Put professional networking and social media together – and there you have it – that’s our guest for today, LinkedIn.  Founded in 2003, LinkedIn connects the world’s professionals to make them more than productive and successful. The firm boasts a diversified range of services ranging from Talent Solutions, Marketing Solutions, Sales Solutions and Premium Subscriptions products.  With over 1 billion members worldwide, including executives from many Fortune 500 companies, the Microsoft-owned company is also the world’s largest professional network.  In the APAC region alone, the social media player has a base of over 310 million individuals, helping them connect with like-minded professionals and remain updated on industry trends.  Why are we speaking to LinkedIn you might ask? Well the social media network is an interesting one to look at given how it saw a boom in creators coming on board the platform amid the pandemic, when people had to work remotely, form connections, and market themselves using the internet.  So how does the firm utilise its algorithm to prevent an overwhelm of content on users, but yet ensure that it remains valuable to the creator community and marketers who are purchasing its B2C subscriptions as well as B2B solutions? Speaking of algorithms, LinkedIn appears to be rolling out video carousels and prioritising videos on the platform in recent months. But what were the reasons behind the move?  How important are videos in helping LinkedIn better engage and retain users and get businesses to up their advertising spend? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Feon Ang, APAC Managing Director, LinkedIn.

It’s all about the payments landscape today as we speak to a pioneer in Singapore’s fintech space. Make a guess – this company also has over 650 self-service kiosks across Singapore and handles over 650 million bill payments since its inception in the year 2000. We’re talking about bills for schools, government, hospitals, insurance, utilities and more. And users also use the kiosks to pay for their fines or as we call it here in Singaporean terms - “summons”. You might have guessed it by now, our guest is indeed payments provider AXS. AXS is an interesting company to look at because of various reasons surrounding its ownership, the changing business environment and recent partnerships.  In July 2023, DBS Bank had agreed to sell a 77.8 per cent stake in AXS to locally based private equity firm Tower Capital Asia. The move was said to provide AXS with the financial backing needed for its regional expansion and technological upgrades. But what should we know on this front, and what has been done one year since the news emerged? Meanwhile, to cater to changing consumer preferences and the increased need for integrated payments solutions, AXS came up with a newly launched app called AXS Drive to simplify parking payments without the need for physical cards. The question though is – how important is this for AXS financially?  On the partnerships front, the firm also teamed up with Aleta Planet to launch remittance service through UnionPay. But what were the reasons behind the move, and how much money is in this space? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Jeffrey Goh, Group Chief Executive Officer, AXS. 

It’s all about the pharmaceutical industry today as we check in on one of our earlier guests on “Under the Radar” to find out what’s next for them.  Known as MSD everywhere outside of the US and Canada, our guest aims to harness the power of leading-edge science to improve lives globally, and has been on the path of doing so for over 130 years, through the development of medicines and vaccines.  The firm’s businesses span across three big categories, namely pharmaceuticals, vaccines and animal health, generating US$60.1 billion in worldwide revenue in 2023. It set up shop in Asia Pacific over 60 years ago, and now has a footprint in 12 regional markets such as Australia, Hong Kong, India, Indonesia, Korea, Singapore, Malaysia and more.  Back home, MSD set up its APAC headquarters as well as a Technology Centre here in Singapore. It also recently celebrated its 30 years in the country.  Back home, MSD set up its APAC headquarters as well as a Technology Centre here in Singapore. It also recently celebrated its 30 years in the country.  But why are we speaking to MSD you might ask? Well, MSD’s venture unit is reportedly said to be planning to spend US$38 million across Europe and Asia in the three years from June 2024 to double down on its presence in the two key markets.  But what kind of target firms is the firm looking for? What technologies does MSD want to build along with entrepreneurs in the two identified regions? How will MSD’s Singapore’s technology centre support this? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Abdullahi Sheriff, Managing Director, MSD Singapore, Malaysia and Brunei and Julie Olszewski, Executive Director and Communications and Change Management Lead, Chief Technology Office at MSD.

You would have heard of the old proverb that goes “all work and no play makes Jack a dull boy”.  So – we’re going to talk all about play, and in particular about the future of play with our guest today, Toys “R” Us Asia.  Headquartered in Hong Kong, Toys “R” Us Asia operates around 460 stores across Asia, with an aim to fuel imagination and inspire the next generation through the power of toys and play.  That means providing toys and experiences for both children and also what it terms as “kidults”. What is key to note, though, is that Toys”R” Us is independent from the other Toys “R” Us companies we see in the rest of the world. For Toys “R” Us Asia specifically, its footprint spans across Mainland China, Japan, Malaysia, Hong Kong, Taiwan, Singapore, Thailand and Brunei. The firm also licences over 90 additional stores in the Philippines and Macau. Now, Toys “R” Us Asia  is an interesting company to look at because of how drastically the toy industry has changed globally in recent years.  According to a report by market research firm Circana out in June 2024, consumers aged 18 and above spent US$1.5 billion in toy-related purchases from January through April. The numbers meant that the adults outstripped the three-to five-year-old consumer group as the most important demographic age group for the toy industry.  But what opportunities does this present for toy retailers like Toys “R” Us Asia? And what will this mean in terms of store layouts, and products to bring on the shelves? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Leo Tsoi, CEO and Board Member at Toys“R”Us Asia.

Today we’re going to catch up with one of our earlier guests who is said to operate a global technology powerhouse with a revenue of US$57 billion.  You might have guessed it by now, yes we’re speaking to electronics maker and IT services provider Lenovo.  To recap, the firm delivers a portfolio of PCs and tablets, monitors, accessories, smart home and collaboration solutions, as well as smart infrastructure data centre solutions around the world.  It has since 1995 shipped over half a billion PCs, and makes three devices every second.  More recently, Lenovo Group had in August revealed that net income grew 38 per cent to US$243 million in the three months ended June, beating estimates amid growing demand for computer hardware and data centres and as companies double down on artificial intelligence spending.  But how does the firm assess demand for its latest performance? How far will generative AI give the recovering computing industry a shot in the arm? Speaking of generative AI, Lenovo had in September 2024 unveiled its latest advancements at Lenovo Innovation World 2024 in Berlin, where it launched a series of artificial intelligence PC devices powered by processors from Intel, Advanced Micro Devices and Qualcomm. But how would the firm assess its relationship with the semiconductor makers and big tech firms, and how does the company assess its market position in the PC and technology space in the AI Era? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Amar Babu, President, Lenovo Asia Pacific.

Calling once, calling twice and SOLD!  Today’s conversation takes us through the ins and outs of an auctioneer auctioning – no not rare art pieces or jewellery, but bottles of whisky.  Founded in 2015 by two brothers, our guest Whisky Hammer is a family run whisky auction service based in North East Scotland.  The firm said it hosts monthly auctions dedicated to whisky and other fine spirits, attracting over 200,000 buyers and sellers from every corner of the globe.  At these auctions, Whisky Hammer said it auctioned off a wide range of whiskies, both bottles and casks. The company also noted that it achieved the world record for the highest value cask ever sold at auction.  Whisky Hammer is an interesting company to look at because it is apparently backed by private equity investors over in Hong Kong. According to online website Drinks International, the firm and its sister company Still Spirit had in 2021 sold a 49 per cent stake to Hong Kong’s whisky investment group Rare Whisky Holdings.  But how far has Rare Whisky Holdings’ involvement in the firm helped it tap further growth or changed its direction for the future? Ownership structure aside, it is also worthwhile to look at Whisky auctioneers with whisky increasingly seen as a form of alternative investment. Broadly speaking, whisky prices are falling right now. In Knight Frank’s 2024 Wealth Report out in March this year,its Luxury Investment Index fell 1 per cent over the year pulled down by falling values in Whisky. But what will this mean for supply and demand of whisky bottles and casks, and what will this mean for auctioneers like Whiskey Hammer? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Daniel Milne, Managing Director of Whisky Hammer.

Capital management is on the table today as we explore what the current macroeconomic environment means for boutique asset management firms here in Asia.  Founded in 2017, our guest for today is Paragon Capital Management Singapore, an asset management firm overseeing assets exceeding S$1 billion.  With a Capital Markets Services Licence granted by the Monetary Authority of Singapore, the company delivers bespoke investment solutions and wealth management services to accredited investors.  These include portfolio management, fund management, private equity and corporate advisory, investment advisory as well as family succession advisory. In particular, the firm runs three open-ended public market funds and two close-ended private markets funds, as well as an early stage VC fund to tap opportunities across asset classes.  But why are we talking to Paragon Capital Management you might ask? Well, the firm had in June announced that it established an office in Hong Kong to cater to clients in North Asia. But what are the opportunities within North Asia and why did the firm choose to enter Hong Kong at this time? Meanwhile, Paragon Capital Management had in June 2024 formed a consortium with real estate fractional investment platform RealVantage for a real estate focused private equity fund called the Global Real Estate Alternative & Tactical or (GREAT) Fund.  The fund has a US$50 million target fund size and wrapped up its first close in May this year. But what should we know about the partnership and how does exposure to real estate better position Paragon Capital Management for the future? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Paul Lee, CEO & CIO, Paragon Capital Management Singapore Private Limited.

It’s almost time for dinner, but today’s conversation might just get you reaching out for that bag of chocolates or snacks right before meal time.  That’s because we’re speaking to one of the largest players in the global snacking industry today – Mondelez International.  Mondelez International is a relatively young company founded in 2012, but its history goes way back. The company emerged when the then-Kraft Foods was split into two companies to separate its North American grocery business with the remaining of the company.  The North American grocery was called Kraft Foods Group, while the remainder of Kraft Foods was renamed into Mondelez International in October 2012, with a focus on snacks and confectionery.  Mondelez International holds some of the most iconic snack brands that we know today, including iconic US$1 billion dollar global brands such as Oreo, Toblerone and Cadbury, as well as other well-known local jewels such as 7Days and Alpen Gold.  As for the money – its  2023 net revenues came in at approximately US$36 billion.  But what was the rationale behind the spinoff? How would the firm assess the success of the spinoff of Kraft Foods Group and the rebranding into Mondelez international thus far?  Meanwhile, Mondelez International had in July this year missed expectations for second quarter revenue as consumers tighten their purse strings amid high inflation. But how would the firm assess its most recent performance? Which are the key markets and categories driving growth and what are the opportunities ahead? Speaking of markets, Mondelez International is reportedly said to expand its presence in China by introducing a wider range of cake-related products. It also said in May 2024 that it will invest over US$5 million in a Regional Biscuit and Baked Snacks Lab and Innovation Kitchen in Singapore. But what can we expect on both fronts? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Tomás Centeno, Vice President of Strategy and Commercial Excellence, Asia Pacific, Middle East & Africa (AMEA), Mondelēz International.