Under The Radar

Do you record all the credit cards you own in an Excel sheet just to make sure that you maximise your rewards? Or do you have a friend that does that?  Well, our guest for today HeyMax AI hopes to save you from all that work by automatically picking the best card for you to maximise your rewards.  It also provides what it calls Max Miles on top of credit card rewards whenever users shop online using the platform.  The miles can then be transferred on a 1:1 ratio to over 20 airline and hotel points including Japan Airlines, Qatar Airways and Etihad. HeyMax AI says it makes money through a B2B model, where merchants pay it a commission for directing customers to them. The commissions are then use to generate Max Miles and profits.  So far, the platform supports some 150 merchants such as Klook, iHerb, Expedia, Singapore Airlines and Booking.com. But how many merchants can we expect towards the end of the year given that the company is in its nascent stage? Also – how far does the firm compete against other credit card reward apps such as Max Rewards, Award Wallet, and even cashback apps such as Shopback? Looking ahead, the company intends to launch what it calls a “multi-linkage card” to consolidate all existing credit cards into one in the future. While it is still a work in progress, how long is the waitlist right now?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Joe Lu, Co-founder and CEO, HeyMax AI.

It’s a little of a Charlie and the Chocolate Factory situation for us today as we speak to the world’s leading manufacturer of chocolate, mints and fruity confections.  You might have guessed it – we’re speaking to Mars Wrigley, the firm behind world-famous brands including M&M’s®, Snickers®, Twix®, Skittles.  With a presence in over 180 countries, and nearly 1,000 of its snacks consumed every second, the firm had said in 2022 that it generated revenues of US$45 billion. 12 of its brands generate over a billion US dollars on a yearly basis. In Asia, Mars Wrigley operates as a business unit overseeing 20 markets with its strategic eight being Korea, Taiwan, Hong Kong, Malaysia, Thailand, Vietnam, the Philippines and Indonesia. But why is this the case and what is the role of its Singapore business in this regard?  Also – the firm mentioned that the ‘treat and snacks’ category is a US$32 billion business in Asia excluding China, India and Japan.  But what is the basis behind the valuation? How does the firm assess its growth trajectory and aim to get customers to expand their average basket size? Meanwhile, Mars Wrigley also embarked on a journey to digitally transform its supply chain in the prior years, but how far has that translated into cost savings for the firm here in Asia?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Kalpesh R Parmar, Regional General Manager, Mars Wrigley Asia.

Today we’re going to bring you an inside look into a mainboard-listed tourism company that bought over the troubled Singapore Flyer back in 2014.  Bingo if you’ve guessed Straco Corporation. Listed on the SGX, Straco Corporation is a local developer and operator of aquatic related facilities and tourism related assets.  Aside from the Singapore Flyer, the firm’s other main operating assets include the Shanghai Ocean Aquarium next to the city’s landmark Oriental Pearl Tower, the Lixing cable car service at Mount Lishan, and the Underwater World Xiamen on the scenic Gulangyu Island.  But  why are the majority of Straco Corporation’s assets situated in China and how has the reliance on a single market weighed on the firm during the pandemic amid the lockdowns we saw in China?  And with the Chinese economy recovers post-pandemic, how are things looking like for Straco Corporation right now? Also – what is on the top of Straco’s to-do-list right now to make up for lost revenues over the past three years or so?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to  Amos Ng, Group Chief Financial Officer and Sean Wu, Senior Vice President (Corporate Development & Risk Management), Straco Corporation.

It’s already Friday and what better way to end the afternoon than with a good cup of coffee or Kopi. Speaking of coffee, you might have seen quite a number of new coffee chains sprouting in sunny Singapore, including several chains who have made their names in other parts of the world such as Indonesia and China.  And we’re going to speak to one such entrant today. Founded in 2017, Kopi Kenangan is a non-franchise tech-enabled coffee chain, where it focuses on serving coffee priced between the higher priced international brands versus the cheaper alternative sold by street vendors.  Fast forward to today, the firm is also one of the fastest growing grab-and-go coffee chains in Indonesia with around 800 stores across over 60 cities in Indonesia.  For one thing, the Sequoia Capital-backed startup served 30 million cups of coffee in the year of 2020 alone.  It also became the first F&B Unicorn in South East Asia in December 2021, following a US$96 million Series C round to help it expand internationally.  True enough, the firm entered into Malaysia and thereafter to Singapore last September. But how will the firm’s positioning strategy in Singapore differ from that in Indonesia given the differences in cost structures?  Also – how does the firm assess the Singapore market, as well as the recent exits of players such as Flash Coffee and Spinelli?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to James Prananto, Co-founder and CEO, Kenangan Coffee.

Today we’re going to talk about helping patients with their rehabilitation through exoskeletons and even humanoid robots. Founded in 2015, our guest for today Fourier Intelligence aims to redefine rehabilitation robotics solutions by integrating inter-connectable intelligent robotics technology with creativity.  So far, the firm provides over 30 products and 200 solutions that can assist patients with upper and lower body impairments, as well as those with difficulties with movements and balance.  Why are we speaking to Fourier Intelligence you might ask? Well, it may be early days for robots in the rehabilitation industry now, but the space holds tremendous potential.  For one thing, Grand View Research valued the global rehabilitation robots market at US$226 million in 2021. It also expects the market to grow at a compound annual growth rate of 17.3% from 2022 to 2030 amid a rise in healthcare spending and an ageing population in maturing economies. So what are the opportunities ahead for Fourier Intelligence?  Meanwhile, the firm is also building a network of researchers to chart the new frontier of innovative medical technologies, with strategic partners such as the Shirley Ryan AbilityLab in Chicago, the National Healthcare Group in Singapore, and the University of Melbourne. What can we expect on this front? And just to get you excited – Fourier Intelligence also debuted what’s said to be the world’s first general-purpose humanoid robot for use in rehabilitative care and scientific research. But what does the invention mean for the company? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Zen Koh, Co-founder and Global CEO of Fourier Intelligence.

Today we’re going to talk about an item that about half of the world’s population might need to wear by 2050.  You might have the answer already – that is glasses. According to a 2017 article by the World Economic Forum, half of the global population could be shortsighted by the middle of the century, an increase of over a third on 2017 figures.  And that presents business opportunities for our guest Lenskart, which operates over 1,500 omnichannel eyewear stores across 175 cities in India, Singapore and Dubai. Just to give you a sense of where things are at for the firm, Lenskart is delivering 10 million spectacles a year to people in India, Southeast Asia, the Middle East as of 2021, with the aim to deliver a billion pairs of spectacles over the next 10 years.  Given the goal, it is no wonder that the firm is expanding rapidly of late. It acquired a majority stake in Japanese eyewear brand Owndays in June 2022.  That’s in a deal that is said to value Owndays at a whopping US$400 million. But what is the strategic value brought about by Owndays though? On the organic expansion front, the Softbank-backed retailer said in December that it intends to open 300 to 400 stores in Southeast Asia over the next two years.  But where will Lenskart be focusing on as a start and what role will the Singapore market play in the bigger scheme of things? How does Lenskart intend to fund its growing ambitions? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Peyush Bansal, Co-founder, CEO, Lenskart.

We’re going to kickstart the year by bringing you an inside look into the final company that was listed on the Singapore Exchange in 2023.  If you’ve guessed Winking Studios - you’re right! Established in 2003, Winking Studios is a game-art outsourcing studio majority owned by Acer Gaming.  Game art outsourcing, for context, involves the creation and development of digital art assets such as game character design and 3D.  Headquartered in Singapore, Winking Studios currently has seven studios across Nanjing, Shanghai and Taipei with a staff count of over 700 people. It has also expanded its suite of offerings to look at game development and the release of gaming peripherals. The firm said it is Asia’s third-largest and the world’s fourth-largest game art outsourcing studio, with 19 of the world’s 25 largest game developers being its customers. Back to the point on listing, Winking Studios is the sixth to list on the SGX in 2023 in a fully subscribed IPO. The company said prior to its listing that it intends to use its proceeds to establish overseas subsidiaries and offices in Asia. It wants to double down on business development and marketing efforts in the US and Europe, as well as pursue strategic acquisitions to grow its market share. But why is the firm expanding its sphere of influence lately and what opportunities does it see in the art outsourcing market in the near term? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Johnny Jan, Executive Chairman and Chief Executive Officer, Winking Studios.

How does a SPAC merger work exactly and how does a special purpose acquisition company’s management choose a target firm to acquire, and eventually exit?  These are the questions we seek to address in today’s session with our guest from RF Acquisition.  Listed on the US NASDAQ in March 2022, RF Acquisition is a SPAC or a blank cheque company which uses proceeds from its initial public offering to merge with a private firm.  It had in October signed a deal with Singapore-based video game distributor Grand Centrex Limited that values it at US$1.2 billion.  For context, GCL is a firm with over 15 multi-year deals with big name publishers like CD Projekt Red, Warner Brothers and SEGA and is responsible for bringing games such as the Cyberpunk 2077 into Singapore.  It sells and distributes to retailers and consumers in Asia physical and digital copies of video games that are compatible with major gaming consoles such as Sony PlayStation, Microsoft Xbox, and personal computers.  The company also moved into media and content creation and you might also know it as the company that backed YouTuber Jian Hao Tan’s Titan Digital Media Group.  But a number of questions here – how did RF Acquisition eventually decide on merging with GCL and what’s next after signing the deal with the target firm?  Meanwhile, the deal is set to fetch US$42.9 million in proceeds for GCL - so what is the basis behind the projection? How and when can the management of RF Acquisition cash out and what is the ROI RF Acquisition is seeking? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Ng Tse Meng, Chairman and CEO, RF Acquisition Corp.

Today we’re going to bring you an inside look into the kiwi fruit we eat from time to time for that Vitamin C boost!  Based in New Zealand, Zespri is one of the world’s most successful horticultural marketing companies and its the country’s largest horticultural exporter.  Just to give you some numbers, the firm exports over 167 million trays of kiwifruit to more than 50 countries around the world. We’re talking about 30 per cent of global volume and sales revenues of US$3.1 billion.  But how does the company work? Well Zespri is 100 per cent owned by current or past kiwifruit growers.  It manages kiwifruit innovation, supply and distribution management and marketing of varieties such as Zespri™ Green, Zespri™ Gold Kiwifruit and Zespri™ Red.  Aside from exporting products, it also gives out licences to farmers to farm certain varieties of kiwifruits – for instance the golden kiwifruit variety that is sweeter and higher in nutrients.  That said, how does the firm assess its reliance on a single type of fruit for production and business growth? Also – where are the bright spots for Zespri in the near term? Meanwhile, Zespri also launched a US$2 million innovation fund to drive agricultural innovation and mitigate the impact of climate change globally. But what can we look out for on this front? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Jiunn Shih, Global Chief Marketing, Innovation & Sustainability Officer of Zespri. 

Making the world a safer and better place to live through the use of restoring blurry videos - that’s what we’re going to talk about on the segment.  Our guest for today is ProHawk AI, a company focusing on video restoration. Video restoration refers to the technical process of transforming noisy, obscured, or unclear video to clear understandable video.  Imagine manipulating every pixel in a high-resolution frame of video. ProHawk does that in real time, with a per-frame processing rate of 16 microseconds.  But what has video restoration got to do with making the world a safer place you might ask?  Well, we use video feeds for security, automation, transportation and a multitude of other applications. For instance, videos can be used to interpret traffic, assist law enforcement and even in the medical setting. Making sure that video feeds are clear in real time can result in more reliable performance regardless of adverse lighting or extreme weather, hence allowing operators to identify threats in a timely fashion and hence, making the world safer.  The firm is part of the Nvidia Metropolis partnership programme where over 1,000 companies bring to market Vision AI powered solutions across industries. The firm also said it’s partnered with Dell Technologies.  But what does the partnerships mean for ProHawk AI when it comes to product innovation, growth as well as finances?  Speaking of growth, Statista data showed that the global computer vision market is projected to see a market volume of US$50.97 billion by 2030. But how does ProHawk AI assess its growth trajectory? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Brent Willis, Chief Operating Officer ProHawk AI.