Under The Radar

We’re going to bring you an inside look into a conglomerate investment company with operations and financial interests in resources, property and hospitality.  Founded in the early years of Singapore’s colonial history – we’re talking about 1887 here – The Straits Trading first started out as a company catering to the region’s growing tin smelting industry.  It become renowned for its tin smelting operations by the 1900 and accounted for two-thirds  of Malaya’s Tin output. Now, Straits Trading has evolved over the years to expand into sectors such as property, equity investments and hospitality. But which is the most important business vertical for the firm? Meanwhile, the firm posted a net loss of S$121.8 million for the second half of 2022, amid higher capitalisation rates and a reduction in the fair values of investment properties in Australia, China, South Korea and the United Kingdom. What are we looking at this year? How is the company walking the tightrope between revenue growth versus cost management in a high interest rate environment? And where do opportunities lie for Straits Trading? On Under the Radar, Drive Time’s finance presenter Chua Tian Tian posed these questions to Eric Teng, CEO, Straits Developments Private Ltd and Group COO, Straits Trading.

Did you know that football star Cristiano Ronaldo is somewhat of an investor himself? Today we’re going to talk to a company that he has recently invested in – and that’s online luxury watch resale marketplace Chrono24.  Founded in 2003, Chrono24 prides itself as the number one address for luxury watches for commercial watch dealers and private sellers from around the world.  It currently has over 30,000 professional dealers and private sellers from over 120 countries offer more than 500,000 watches. The company’s website sees over half a million visitors everyday.  In 2020, in particular, it saw watches worth about 2 billion euros transacted through the platform. But what is the demand for luxury watches right now with economies slowing down, interest rates going up, and with cryptocurrencies tumbling?  Also – with prices of Swiss watches near the lowest in almost two years amid falling prices of Rolex, Patek Philippe and Audemars Piguet models, what does this mean for platforms like Chrono24 which charge a fee out of every transaction? And how far can Rolex and AP’s move to certify pre-owned watches boost the secondary watch market? On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Tim Stracke, Co-CEO and Founder, Chrono24 for more.

What happens when you have a group of engineers with backgrounds in 3D data processing in an online class studying computer vision?  Well – they form a company that develops software systems for self-driving cars! And that’s the story behind our guest for today Seoul Robotics.  Founded in 2017, Seoul Robotics develops software systems for self-driving cars to determine traffic conditions.  Its systems rely on data from Light Detection and Ranging or LiDAR sensors rather than a combination of camera sensors, which was unheard of at that point in time.  The firm is also pioneering a new approach to automating vehicles called ‘Autonomy Through Infrastructure’, where autonomous driving systems are placed on infrastructure rather than cars.  This can lower the costs of building autonomous transportation networks, as vehicles do not need to be fitted with cameras and sensors individually. It can also make autonomous transportation safer because autonomous driving systems placed on infrastructure can have a better vantage point and eliminate blind spots. But how revolutionary is this concept and how much money can this bring to the firm? Meanwhile, Seoul Robotics is currently working with partners including Qualcomm, and Nvidia, as well as major automakers such as BMW, Mercedes and Volvo. It has also closed a US$25 million Series B funding round led by KB Investment Company back in March. But what value do these strategic partners bring to the table? On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with HanBin Lee, Captain and CEO, Seoul Robotics  for more.

From producing abalones to distributing FMCG products and to offering consultation services, our guest for today Oceanus has its wings spread across business pillars such as food production, innovation and distribution.  The aim here is to leverage what it calls cross-pillar synergies for exponential growth to boost financial performance. But having a diversified portfolio of businesses hasn’t always been the case for Oceanus.  It was once an abalone hatchery operator struggling with a lack of internal controls and corporate governance framework.  At one point in 2014, the SGX mainboard-listed company was on the brink of being wound out after losing its entire abalone farm to bad weather, causing it to default on S$94 million in debt.  That was when chief executive Peter Koh was roped in to manage the firm. Changes were made to Oceanus’ business model, and over the years, the firm repaid its dues and restructured its business to include new streams of revenue. The company also exited the Singapore Exchange watchlist in September 2021 after six years.  But what is Oceanus’ secret sauce to turning the business around? And from inking deals in Uzbekistan and Hainan – what is Oceanus doing to position itself for its next bound of growth? On Under the Radar, Drive Time’s finance presenter Chua Tian Tian spoke with Peter Koh, Executive Director and Group CEO, Oceanus for more.

Today we’re going to look at the oldest form of lending, which dates back to the Ancient Greek and Roman Empires. Make a guess – it was also found in China during the Spring and Autumn Period or between 770 to 476 BCE.  Bingo if you’ve guessed pawn shops! Pawnshops first made their way to modern Singapore back in 1872.There were 25 pawnshops dotted across Singapore from 1920 to 1929, and they generated monthly turnover of over $2 million.  So as you can imagine business was thriving, before the Great Depression in 1929 and World War II dealt a blow to the industry. 90 years after the Great Depression, we’ve got the COVID-19 pandemic and the War in Ukraine.  But what do such economic uncertainties mean for pawnbrokers in terms of new loans, redemption and interest income? Let’s pose the question to our guest for today. Founded in 1988, ValueMax provides pawnbroking and secured money lending services, as well as the retail and trading of jewellery and gold.  The SGX-listed company has 42 pawnbroking and retail outlets across Singapore as well as 21 other outlets in Malaysia operated through its associated company.  On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Yeah Lee Ching, Chief Marketing Officer and Executive Director, ValueMax for more.

Did you know that Singapore has been home to many foreign banks in the 1800s?  In fact our guest for today is one of them. Having opened its first branch in Singapore in 1877, HSBC Singapore is a qualifying full bank serving the international needs of individual, corporate and institutional clients.  It provides retail banking, wealth management, commercial investment, private banking, insurance as well as securities and capital market services.  Fast forward to today, HSBC Singapore has close to 4,000 employees and serves as an international wealth and regional wholesale hub, while being a sandbox for digital innovation experiments for the Group.  The bank is now carving out a bigger role for Singapore as a regional hub as it expands in Asia, with the city receiving funds from a US$6 billion (S$8.1 billion) investment earmarked to drive its Asian growth between 2021 and 2026. But what can we expect on this front? On Under the Radar, Drive Time’s finance presenter sat down with Kee Joo Wong, CEO, HSBC Singapore for more. He is also the first Singaporean CEO of HSBC Singapore. 

Earlier we told you about the world’s largest mining company BHP. Today we are going to take you closer to home by looking into the operations of a Singapore-grown minerals and resource company.  With a global footprint spanning across countries in Southeast Asia and West Africa, TOP International Holding is an integrated producer of bauxite – or a mineral used to produce aluminium – and offers end-to-end service that includes exploration, mining, marketing, trading logistics and delivery. The company has grown much since its inception in 2014, with over 250 employees in five countries.  It is also emphasising on diversification, having expanded its trading portfolio to include commodities such as iron ore, copper cathode, sand and coal.  Question is – to what extent has that helped the firm navigate the shifting of global supply chains amid the pandemic? Also – what is TOP International Holding’s growth trajectory like in the near term? On Under the Radar, Drive Time’s finance presenter Chua Tian Tian posed these questions to Victor Tan, CEO, TOP International Holding.

Today we’re going to talk to a German multinational technology conglomerate that set its foot in Singapore 115 years ago.  Bingo if you’ve guessed Siemens. Founded in 1847 as a small workshop in a back courtyard in Berlin, the company’s offerings now span across a wide range of industries such as digital industries, mobility, and smart infrastructure.  The firm first entered in Singapore back in 1908 by establishing a technical bureau in Singapore as a sales office of London-based Siemens Brothers Dynamo Works Limited in search of new opportunities, and has grown with the country since then. Question is, what is the role of Siemens Singapore in its global portfolio of businesses? Meanwhile, Siemens is set to build a S$290 million new factory in Singapore for its industrial automation and digitalisation product by 2026. That’s as part of a 2 billion Euros global strategy to expand the firm’s manufacturing capacity worldwide. But what can we expect on this front? On Under the Radar, Dr Thai-Lai Pham, CEO, Siemens ASEAN joined Drive Time’s finance presenter Chua Tian Tian in-studio for more.

You’ve probably heard about incubators and accelerators that help startups scale up before they could stand on their own.  But what about a venture platform dubbed as a super incubator?  That’s what we’re going to talk about today. Founded in 2022, VentureBlick is a Singapore headquartered Super Incubator with a presence in countries such as Australia, China, South Korea, India, Germany and the US. It matches early-stage startups with medical investors such as clinicians and industry experts who can validate ideas, fund and support the firms without diluting startup control.  The aim is to provide a fully customisable one-stop solution to build, test and market innovations with the ultimate goal of successful exits or commercialisation.  But really how does this proposition differ from the ones provided by other venture platforms?  Meanwhile, VentureBlick recently secured a total of US$2.6 million for two startups amid the current macroeconomic environment. But what is in VentureBlick’s pipeline for the rest of this year? On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with Chris Lee, Founder and CEO, VentureBlick for more.

Today we’re going to bring you an inside look into the private education business. Founded in 1907, ESSEC Business school is a major French business school with a tightly knit community of some 62,000 graduates. With the region, ESSEC Business School Asia-Pacific, was established in Singapore in 2005 to offer academic and executive programmes with Asian insights and Western perspectives. It has since welcomed over 5,000 managers and students.  But how does the school differentiate itself from other publicly funded institutions? Who are its target customers and how does it position itself against other players in the education market?  Meanwhile, ESSEC Business School Asia Pacific recently launched its Academy of Luxury to cater to professionals eager to elevate their knowledge and hone skills in luxury management and break into the coveted luxury sector.  The programme was touted as the first of its kind in APAC and seeks to address the ongoing talent shortage in the luxury sector — but to what extent is this shortage driven by a lack in training opportunities? On Under the Radar, Drive Time’s finance presenter Chua Tian Tian posed these questions to Prof Reetika Gupta, Deputy Dean of ESSEC Business School, Asia-Pacific.