Money Matters with Hongbin Jeong and Chua Tian Tian

Today we’re going to talk to a Singapore listed company that is said to be the country’s oldest and one of Asia’s largest manufacturers of high-end precision plastic and metal components and products.  With over 45 years of manufacturing experience, our guest Fu Yu Corporation operates six manufacturing sites across Singapore, Malaysia and China.  The firm serves a wide range of sectors including automotive, biomedical and consumer products, making products such as water filters, medical endoscopes and more. More notably, the company also expanded its offering to provide supply chain solutions at the height of the pandemic in 2021.  But why are we talking about Fu Yu Corporation you might ask? Well, the firm had in November last year completed a strategic review where it outlined new transformation strategies to build a stronger business foundation, open up new business opportunities and enhance shareholder value. That’s amid an economic slowdown in China, rising interest rates globally and customers holding large stockpiles of inventory post-pandemic.  To this end, the firm said then that it has doubled down on investments on machinery and manpower to manufacture higher precision products such as plastic lenses for electric cars and other biomedical products – but why is it moving up the value chain – and how far have the investments reaped rewards now that we are in 2024?  Meanwhile, Fu Yu Corporation posted a net profit of S$5,200 for the first quarter of its 2024 fiscal year ended March, marking a reversal from a net loss of S$2.4 million seen in the same period last year.  The showing comes as revenue in the quarter more than doubled on the year to nearly S$79 (S$78.9 million), driven by higher contributions from the company’s supply chain services management arm.  Question is – what are the trends bolstering demand for the firm’s supply chain management services? Also – where would Fu Yu Corporation then put its resources into to tap future growth in future?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to David Seow, Group CEO of Fu Yu Corporation Limited. 

Singapore shares ended the day in negative territory. The STI closed down 0.85% at 3,410 points. Across the broader market, losers outnumbered gainers 296 to 257 after 1.07 billion securities worth S$812.29 million changed hands. Singtel shares was actively traded today, after hitting a high of $2.90. Despite some selling mood today, can Singtel shares move up another level? Meanwhile, in global markets, global equities are scaling record highs, as traders turn their attention toward Friday’s crucial US jobs data. So what can we expect from the data? If the data solidifies that we can be hopeful for a September rate cut - can markets continue on this rally for the rest of the year?  On Market View, Hongbin Jeong speaks to Sunny Soh, Lead Technical Analyst (Capital Markets & Investor Education), SIAS, to find out more. 

Do you agree that Disney World is the happiest place on earth? One toy collector might agree because she has a collection which looks like it came out of a Disney dreamland. She’s also a successful blogger who has managed to turn her hobby into a thriving business. On R.I.C.H., Hongbin Jeong and Roshan Gidwani speak to Falin, Disney blogger and Toy collector, Timetoplaytoys, to find out more. Presented by: Hongbin Jeong and Roshan Gidwani Produced and Edited by: Alexandra Parada (alexparada@sph.com.sg) and Nadiah Koh Want to get featured on our show? Drop me an email today!

White Shades is a pioneering cocktail destination nestled in Singapore’s Central Business District on Boon Tat Street. Founded by Jiawei, recognized for his innovative contributions to mixology, White Shades offers a distinctive blend of Japanese-inspired speakeasy ambiance, meticulously crafted highball cocktails like the PawPaw Plum and Smoky Inferno, and a revamped izakaya-style food menu. Guests can also embark on the exclusive "Hop through the Shades" experience, traversing multiple levels to enjoy bespoke cocktails culminating in a creation by Jiawei himself. On Culture Club, Hongbin Jeong and Roshan Gidwani speak to Jiawei Bia, Founder, White Shades, to find out more. Presented by: Hongbin Jeong and Roshan Gidwani Produced and Edited by: Alexandra Parada (alexparada@sph.com.sg) and Nadiah Koh Want to get featured on our show? Drop me an email today!

Pet weddings are on the rise in China, where government policies have had little success in encouraging more humans to wed in this fast-ageing society. The popularity of pets and an increasing willingness to splurge on them are driving the trend. Also, The Lone Pine Koala Sanctuary – a Brisbane icon which bills itself as the world’s first koala sanctuary – has decided it will no longer offer “koala hold experiences”. Lone Pine said the move is in response to increasingly strong visitor feedback. Will others follow? 

John Mark Dugan, an American ex-cop now lives in Moscow and runs a network of AI-powered fake news sites! Beware, for what you read may not be factual!  Roshan Gidwani and Hongbin Jeong spill the tea!  Get in touch with our anchors at  rgidwani@sph.com.sg, chuatt@sph.com.sg and hongbin@sph.com.sg.   

Singapore equities closed in the green today, continuing their rally after global markets booked strong gains overnight. Our trio of banks also swell to almost half of ST Index after a recent run-up. So what’s driving this rally? And can the banks rise even further in the coming weeks?  Meanwhile, in global markets, the red-hot Washington debate over whether US President Joe Biden will scrap his run for re-election is spilling into Wall Street, where traders are shifting money to and from the US dollar, Treasuries and other assets that would be impacted by Donald Trump’s return to office. So what will it mean for markets if Joe Biden withdraws for this year’s election?  To find out more, Hongbin Jeong speaks to Terence Wong, CEO Azure Capital, on Market View

Udders is one of the most popular ice cream stores in Singapore. Most Singaporeans would have spent their weekends at Udders’ ice cream parlour back in the day.  After all, Udders was known as the OG, well before the trend of local Singaporean ice cream cafes. Now, 18 years after it was established, the Udders brand is still thriving and growing.  How did a passion project born out of the living room become so successful?  Peck Lin Wong, Founder and Chief Milkmaid of Udders reflects on that journey. Presented by: Hongbin Jeong and Roshan Gidwani Feature produced and edited by: Nadiah Koh  Do you have a story to tell on The Evening Runway show? Contact nadkoh@sph.com.sg

Lộ Quậy is a vibrant dining hotspot located on Amoy Street in Singapore, renowned for its innovative approach to New Vietnamese cuisine. Recently, Lộ Quậy has transformed its dining concept to a freestyle dining experience, driven by the evolving preferences of modern diners. This new format features an ever-changing menu of small plates designed for sharing, allowing guests to craft their own culinary journeys and ensuring that each visit offers a unique experience. On Culture Club, Hongbin Jeong and Roshan Gidwani speak to Quynh, Chef, Lộ Quậy, and Clem, Restaurant Manager, Lộ Quậy, to find out more about their take on Vietnamese cuisine. Presented by: Hongbin Jeong and Roshan Gidwani Produced and Edited by: Alexandra Parada (alexparada@sph.com.sg) and Nadiah Koh Want to get featured on our show? Drop me an email today!

On What's Trending, New York City and Chicago are in a virtual spat after the Empire State Building's official X account threw shade at Chicago's iconic Cloud Gate, also known as the Bean. This sparked mixed reactions among users, with some finding humor in the "feud". Also, a painting described as a masterpiece which was found in a plastic bag after being stolen has sold for almost £18m at auction. Called Rest On The Flight Into Egypt, it was painted by Venetian master Titian when he was aged just 20 in 1510. The work was stolen from the drawing room of stately home Longleat in Wiltshire in 1995, but was found seven years later  in a plastic carrier bag in London.