Under The Radar

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.

Making healthcare more accessible, effective and less invasive. That’s the ambition of our guest for today, Castomize.  Spun off from the Singapore University of Technology and Design in late 2022, the firm aims to do so through the use of medical devices made with advanced manufacturing techniques.  It has since launched its first device, a series of 4D-printed orthopaedic casts which are more comfortable and convenient for patients. The casts are also easier for doctors to apply and remove, and require less resources for hospitals to deploy.  The casts have won awards at multiple startup events including the K-Startup Grand Challenge. As a firm, Castomize was also selected as the first startup in incubator VentureBlick’s super incubator programme.  It is also working with other incubators and accelerators such as Shinhan Square Bridge Incheon, Singapore Management University’s Business Innovations Generator, the Temasek Launchpad and the SUTD.  But what is the strategic value of working with these players and how does the Castomize envision its growth trajectory to be like?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Abel Teo, CEO, Castomize.

Today we’re going to talk about a company that helps organisations create a personalised, measurable and scalable coaching programme for the entire workforce regardless of department and seniority level.  Founded in 2018, CoachHub is a leading global talent development platform with over 3,500 certified business coaches in 90 countries.  The firm provides sessions in over 60 languages and serves over 1,000 clients around the world. They include some of the biggest names including Coca-Cola, Toyota, LVMH, L’Oreal and Twitter.  It says coaching helps firms reap benefits from increased employee engagement, higher levels of productivity, improved job performance and increased retention. And it seems like the market for coaching is a lucrative one. According to a 2020 International Coaching Federation (ICF) study undertaken by PwC, the estimated global total revenue from coaching in 2019 was US$2.849 billion, representing a 21% increase over the 2015 estimate.  But what are the drivers of growth in the industry and what do they mean for CoachHub?  Meanwhile, CoachHub raised US$200 million in Series C funding in a round led by Sofina and Softbank Fund Vision 2 in June last year. The company said then that it wants to use the money to expand its footprint within the APAC region, particularly in Singapore.  But what is the strategic value brought about by this group of investors, and how far has CoachHub’s plans to expand within Asia been realised, one year down the road? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Jimmy Li, VP for APAC, CoachHub.

Messaging tools are much needed not just between individuals like you and me, but also between banks and financial institutions to support global and local financial flows, as well as trade and commerce all around the world.  Founded in 1973, our guest Swift is a global member-owned cooperative and also the world’s leading provider of financial messaging services.  While it does not hold funds or manage accounts on behalf of customers, Swift enables its community of users to communicate securely and exchange standardised financial messages in a reliable way.  So far, its platform, products and services connect over 11,500 banking and securities organisations, market infrastructures and corporate customers in more than 200 countries and territories.  The cooperative reported that close to 90% (89%) of cross-border transactions processed on its network reached recipient banks within an hour, ahead of speed targets set out by the Financial Stability Board. How is that achieved and what does it mean for Swift looking ahead?  Meanwhile, Swift also developed a Central Bank Digital Currency solution that interlinks CBDC networks and existing payment systems for cross-border transactions. But what wider implications will this have on the financial industry? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Sharon Toh, Head of ASEAN Region, Swift.

Today we’re going to talk about Hong Kong’s biggest cosmetics chain. Make a guess – the chain is known for its pink-and-white shop front.  Does Sasa ring a bell? Founded in 1978, Hong-Kong-listed Sasa first launched in Singapore in 1997 and grew over the years to become the go-to place for make-up and personal care products in the early 2000s. While it was positioned as a discount retailer, the firm’s diversified portfolio extends to over 9,000 products from over 600 international brands of skincare, fragrance, make-up, hair care and more.  A lot has changed in recent years with the entry of retailers such as Sephora and the boom in e-commerce, and the firm closed all 22 shops some three years ago.  But that’s just the start of a new chapter of Sasa’s journey in Singapore, as the firm is making a comeback with its new outlet at Jurong Point Shopping Centre today! Question is – why is Sasa re-entering Singapore right now? What opportunities does it see in Singapore and what will it do differently to thrive in the lion city?  And how does Sasa assess its growth and expansion strategy at a group level with the global retail industry still reeling from the effects of COVID-19 pandemic curbs?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Danny Ho, Executive Director and Chief Financial Officer, Sa Sa International Holdings.