Under The Radar

Ice-cream, sauces, seasoning powders, dish soaps, shampoos, deodorants, laundry detergent and hand sanitisers.  There is one common factor linking all these products together – and that’s they are all fast moving consumer goods or FMCGs. In fact our guest for today is part of one of the world’s leading FMCG firms Unilever.  That is the company behind brands such as Lipton, Knorr, Dove, Hellmann’s as well as your Wall’s Ice-Cream, Lifebuoy hand soap and Comfort fabric softener.  More specifically, we are speaking to Unilever International. Founded in 2012, Unilever International is the white space partner for Unilever, and was set up to serve emerging and fast growing geographies, consumers, customers and channels created worldwide as a result of mega trends such as globalisation, migration and digital commerce.  Fast forward to today, Unilever International operates out of eight key hubs in major cities such as London, Rotterdam, Singapore, Dubai, Mumbai and Seoul.   It also provided over 100 million consumers in remote markets like Yemen, Mongolia and East Timor access to Unilever products, such as Wall’s ice cream and Vaseline lip balm. But how rewarding is it for the firm to build supply chains outside of major cities where the dollars and cents are concerned? Meanwhile, Unilever International had last year expanded its network of partnerships to the travel sector, serving over 50 Fortune 500 companies like IHG Hotels, Marriott, Delta Airlines, Singapore Airlines with items such as Dove amenities in room or in-flight, reaching over 200 million consumers per annum. But how far will that translate into earnings for Unilever as a whole? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Aseem Puri, Global CEO of Unilever International. 

It’s all about flying high today as we speak to the world’s third largest commercial aircraft maker after Airbus and Boeing. Make a guess - we’re actually talking about Brazilian aircraft manufacturer Embraer! Founded in 1969, Embraer is a global aerospace company that designs, develops, manufactures and markets aircrafts and systems with businesses spanning across areas such as Commercial and Executive Aviation, Defense & Security, and Agricultural Aviation. More notably, the firm started out making a turboprop plane called the Bandeirante, which was designed for both civilian and military purposes.  50 over years down the road, the company delivered over 8,000 aircrafts. That translates to having one of its aircrafts taking off somewhere in the world every 10 seconds, we’re talking about mostly jets up to 150 seats serving regional routes.   Why are we talking to Embraer you might ask? Well, the firm had reported sizable growth in all business units for the last quarter of 2023 with commercial aviation revenues rising 20 per cent.  The number of Executive Aviation jet deliveries, according to media reports, were also at the highest in seven years. But how far is that driven by the post-pandemic travel recovery? Where are the bright spots for the firm? And with Boeing in the spotlight amid a slew of safety incidents surrounding its 737 Max models and Airbus delays, what will this mean for Embraer? Would it move to build larger planes to rival the two jet makers as what media reports had suggested in recent days?  Closer to home, Embraer had in April delivered the first of nine new Embraer E190-E2 aircraft to Scoot to allow the airline to expand its network growth strategy and expand into markets with smaller, but sizeable demand. But what can we look forward to from here?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Raul Villaron, Vice President, Asia Pacific, Embraer Commercial Aviation.

This is a company that you’ll come into contact with perhaps on a day to day basis.  Make a guess - if you’re thinking along the lines of ride hailing apps - you’re on the right track! Established back in 2010, our guest is Southeast Asia’s ride hailing giant and leading on-demand platform Gojek.   Fun fact here, the firm actually started out as a call centre focusing on courier and motorcycle ride-hailing services in the early 2010s before launching its app in January 2015 in Indonesia.  Fast forward to today, the firm provides access to a wide range of services including transportation, food delivery and logistics, with the aim to use technology to remove life’s daily frictions.  It now operates in markets including Indonesia, Vietnam and Singapore with over 2.5 million driver partners across the region.  Gojek’s parent company GoTo Group reported that it turned EBITDA positive in the fourth quarter of the financial year ended 2023, even as the full year’s net loss widened by over 120%. But how far did Gojek Singapore contribute to the group’s performance?  Also – how does Gojek Singapore assess its path to profitability in looking ahead with Q1 2024’s figures just in?  Meanwhile, the firm recently announced a partnership with taxi operator ComfortDelGro that it will dispatch rides not taken up by drivers to each other’s platform.  But how far will the collaboration bolster Gojek’s financials and help it increase customer retention with the shortage of drivers being a perennial issue within the industry here in Singapore?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Lien Choong Luen, General Manager, Gojek Singapore.

The recruitment and staffing landscape is in focus as we speak to one of the leading talent acquisition and management firms here in Asia.  Founded in 1992, HRnetGroup helps business leaders, hiring managers and job seekers build stronger companies, successful careers and better workplace cultures. The firm’s business segments can be split into two, namely flexible staffing or the provision of temporary manpower solutions to companies, as well as professional recruitment, where it sources permanent staff for corporate staff.   The Singapore headquartered and SGX listed firm started off as a 4-man team and grew to a headcount of over 900 consultants across 17 Asian cities, such as Singapore, Kuala Lumpur, Hong Kong, Taipei, Beijing, Seoul and more.  Its business portfolio includes 14 brands such as HRnetOne, SearchAsia, and Yespay.   HRnetGroup had in February posted a 7.1 per cent year-on-year increase in net profit to S$35.3 million for the second half of 2023 driven by strong profit margins.  That’s even as revenue for the period fell 4.7 per cent on the year to S$283.7 million amid tough economic conditions and sector-wide profit downgrades.   It also noted that revenue trends were patchy. So how does the firm assess its road ahead, especially amid news of global firms streamlining their operations this year? Which brands continue to make meaningful contributions to the group? Meanwhile, the firm had in 2022 acquired stakes in a number of businesses, such as a majority stake in local cloud-based workforce management software firm Octomate.  It also co-invested half a million Singapore dollars into the flexible staffing business of Recruit First Indonesia that year. But how far have the acquisitions reaped financial gains for the firm? And what’s next on the firm’s to buy list?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Adeline Sim, Chief Corporate Officer, HRnetGroup Limited.

It’s all about sentiment within financial markets today as we speak to one of the earliest fintech companies in the world. .  Founded in 1992, our guest Saxo is an international investment firm for investors and traders under the supervision of the Danish FSA, with a reach of over 2,500 professionals around the world including in key financial hubs such as Singapore. Its investment platform provides users access to global capital markets across asset classes, while its open banking technology powers over 200 financial institutions to enhance their investment experience. Why are we talking to Saxo you might ask? Well, with economic data out of the US coming in hot in the early months of the year, putting into question the Federal Reserve’s rate cut timeline, a property slump in China, and ongoing geopolitical tensions around the world – we want to find out how if investors’ are indeed on a risk-off mode right now, and if that has influenced demand for investment products investment platform.  The firm also revamped its pricing structure to lower trading costs for customers in March this year – but how far has that got to do with the wider business environment and the competitive landscape of the global online trading platform market?  More recently, the firm was reportedly said to be exploring a possible sale after talks to go public through a SPAC merger fell through. But what were the reasons behind the move and what can we expect from here?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Kim Fournais, Founder and CEO of Saxo.

It’s all about travel today as we speak to one of the world’s leading online travel agencies – Trip.com.  On its own, Trip.com is a familiar name to many, with a network of over 1.4 million hotels in 200 countries and regions, as well as more than 2 million individual flight routes connecting over 5,000 cities around the globe.  It is actually part of the NASDAQ and Hong Kong Exchange listed Trip.com Group which includes other brands such as Ctrip, Qunar and more notably, Skyscanner.  The Group had in February reported a 105 per cent year-on-year growth in Q4 revenue to RMB 10.3 billion (US$1.5 billion), higher than market expectations of RMB 10.2 billion.  The showing was said to be boosted by China’s tourism recovery post-pandemic. But what were the other factors at play and how far did Trip.com as a brand contribute to the Group’s balance sheet? Speaking of growth drivers, Trip.com Group had earlier noted that it is embarking on a “Hotel + X” strategy” to cater to millennial and Gen Z consumers who are looking to purchase both accommodations and experiences in one go.  So what does this strategy look like when it comes to Trip.com as a standalone platform and how far has the move to cross-sell products bolstered its top and bottom lines? Meanwhile, Trip.com Group recently signed a deal with AirAsia owner Capital A to enhance travel offerings within Asia. But again, what will this mean for the platform Trip.com? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Schubert Lou, Chief Operating Officer, Trip.com.

It’s literally cherry on the cake to speak to a company said to be the only in the world so far that produces wine from – not grapes, but cherries!  Our guest for today is Frederiksdal, a Danish firm that specialises in beverages like juices and wines made from Danish Stevns Cherry.  These are not the sweet cherries we eat during summer time, but those that taste sour with high sugar and acid content.  Such cherries are called Grapes of the North. They are not eaten directly but are said to be perfect for making items like sauces, juices, jams or even wines.  Back to Frederiksdal, the firm is named after the Frederiksdal Estate in Southern Denmark which grows these cherries.  It traces back to 1756 and has been owned by the Krabbe family for three generations, who used to sell the cherries to juice manufacturers.  But as life would have it, cherry prices tumbled in 2006, prompting its third generation owner to make the cherries farmed into wine and juices on its own instead.  The story takes itself forward from there, as the firm grows to become one of the biggest wineries in Nordic cities, shipping its products to all parts of the world. So how has Frederiksdal’s value proposition changed over the years and how has that transformation process reaped benefits for the firm? Meanwhile, the company had said in a media report that its key export markets now include Singapore, China, the US and Japan. But what is driving export demand right now and what will continue to be its key drivers of growth? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Harald Krabbe, Founder, Frederiksdal.

Using technology to change the way people innovate from concept to commercialisation – that’s what we’re going to talk about today.  Founded in Singapore in 2007, our guest is called Patsnap –  or the short form for the phrase “patents in a snap”. The company’s products help businesses analyse competitor patents, identify the white space open for innovation, validate ideas, assess the patentability of ideas and more.  This is done by using AI-powered technology and machine learning to comb through billions of data sets – over 180 million patents and millions of pieces of literature and reports to be specific – to help innovators connect the dots.  Patsnap currently serves over 12,000 companies and organisations across 50 countries worldwide, including big players like Colgate-Palmolive, Xiaomi, Walt Disney, PayPal and even the University of Oxford.  It achieved its unicorn status in March 2021 after a US$300 million Series E round featuring notable investors such as SoftBank Vision Fund 2, Tencent Investment, Sequoia China, Vertex Ventures. But what is valuation looking like three years down the road and how does it intend to help early investors cash out?  Meanwhile, Patsnap is doubling down on expanding its suite of AI products, launching its AI assistant CoPilot early this year. But how far is CoPilot expected to contribute to the firm’s top and bottom lines?  The unicorn is also expanding rapidly in Japan, with an annual growth rate of over 100 per cent over the past two years – so 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 Guan Dian, Co-founder and APAC General Manager, Patsnap.

We’re going to bring you an inside look into a local apparel maker turned investment holding firm. Founded in 1951, Sing Lun started as a textile trading firm along Circular Road and has seen its business transform over the decades.  For one thing, the firm expanded into apparel manufacturing in 1968 when the second generation owners took over. Over the years, Sing Lun evolved to become the manufacturer for top outdoor and sportswear brands such as The North Face, Puma and Under Armour. And its annual revenue – a whopping US$185 million as at 2016.  But as people say, change is the only constant, and Sing Lun has yet changed once again.  It merged its textile manufacturing business SL Global with Crystal International Group in Hong Kong in 2016 to become the second largest apparel manufacturer in the world.  Today, Sing Lun Holdings is known as a privately-owned investment holding company with business interests worldwide. Its portfolio includes three main verticals: real estate holdings, industrial and business services and investments and private equity. But what were the reasons behind the move to divest SL Global and what does the divestment of its apparel manufacturing mean for the firm? What is the firm focusing on next? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Mark Lee, CEO, Sing Lun Holdings.

Today we’re going to talk about a digital bank that is backed by two of Singapore’s technology and telecommunications powerhouses Grab and Singtel.  You might have guessed by now that we’re talking about GXS Bank. Launched in August 2022, GXS was positioned to address the pain points of Singapore’s underserved consumers such as gig economy workers, self-employed entrepreneurs and early jobbers in meeting their saving goals.  GXS said this was done through its products offerings such as daily interest crediting which was new to the industry at the time, helping its consumers, who may be more cash-strapped with their cash flows.  The bank started out two years ago by targeting users across the Grab and Singtel ecosystem, which rounded up to a potential market of about 3 million customers here in Singapore.  Its products, like its flagship savings account, were also only limited for selected Grab and Singtel customers, with a deposit cap of S$5,000 due to regulatory reasons.  The product, however, was opened up to new customers in July 2023 and the cap was also raised after a review by authorities.  So how far has that bolstered GXS Bank’s customer acquisition, and levelled the playing field between digital banks and traditional players? Also – how far has its positioning reaped financial benefits?  Meanwhile, Grab had in January this year injected S$145.1 million into GXS Bank.  Both Grab and Singtel are also set to put in a further S$229.5 million into the digital bank in Q3 this year. But what were the reasons behind the move and how does GXS Bank intend to use the money? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Muthukrishnan Ramaswami, Group Chief Executive Officer, GXS Bank.