Under The Radar

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.

We’re going to talk Mexican today as we speak to the master franchisee of one of the world’s fastest growing fast food chains, Guzman Y Gomez, here in Singapore.  While the brand sells Mexican food, it was actually founded by two New Yorkers who were in Australia back in 2006!  The duo were missing Mexican cuisine they grew up with in the US, and hence decided to build a restaurant business by marrying fast food and Mexican food.  Fast forward to today, Guzman Y Gomez now has a presence across four markets, Singapore, Japan, Australia and the US, wrapping 450 to 500 burritos every hour and using 1.9 million kilograms of avocados a year in Australia alone.  In particular, Singapore was the first international market that Guzman Y Gomez expanded into. It was done through a master franchisee. The country now boasts 15 Guzman outlets and one Guzman Grab kitchen.  But what are the opportunities here in Singapore? And how will Guzman Y Gomez’s master franchisee here support the firm’s wider ambitions to open over 40 restaurants globally each year?  Meanwhile, Guzman Y Gomez has recently taken its plans to go public on the Australian Stock Exchange off the shelves amid the current economic environment.  But what will such major moves at a corporate level influence its franchisees like the master franchisee here in Singapore? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to  Josh Bell, Master Franchisee and General Manager, Guzman Y Gomez Singapore.

Giving used tech-devices a new lease of life while reducing the amount of e-waste that ends up in landfills. That’s what we are going to talk about today.  Founded in 2019, Reebelo is one of the world’s leading marketplaces for refurbished tech devices and lifestyle products like smartphones, laptops and PCs as well as smartwatches.  It enables consumers to save up to 70 per cent on their favourite brands. With a presence in major markets like Singapore, Hong Kong, San Francisco and Melbourne, the firm said in March last year that its gross merchandise value grew 12 times over the past two years, with global sales tripling in the year prior.  Apparently, the US was said to be a bright spot, making up a whopping 25 per cent of overall sales.  But what were the reasons behind the strong growth, and how far can that be attributed to global inflationary pressures and consumers tightening their purse strings?  What does it say about Reebelo’s ability to survive during periods of recession?  Meanwhile, data from Statista suggested the re-commerce market to have generated sales of US$139.6 billion in 2020, and expects this figure to grow to US$275.8 billion by 2028.  What does the doubling of market size in the US mean for Reeblo and how does the size of the market compare against Asia Pacific? What will be the key drivers of growth here in Asia then? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Hari Vijayarajan, CEO APAC, Reebelo.

It is all about the concrete that goes into the buildings we live, work and play in today! Founded in 1958, our guest Pan-United Corporation is a Singapore-grown and publicly listed concrete innovation company that aims to catalyse change and promote sustainability in the ready-mix concrete and logistics space.  The company is one the largest producers of concrete here in Asia. The firm has a catalogue of over 300 specialised concrete solutions and serves a wide variety of industries such as aviation, underground, transport and more. In particular, its range of over 150 low-carbon concrete products were used in iconic buildings and urban structures such as Jewel at Changi Airport, the Helix Bridge, Gardens by the Bay and even residential homes like the Pinnacles@Duxton and Reflections at Keppel Bay.  Its concrete solutions also moulded infrastructure such as the Tuas Mega Port, our MRT Lines – the Circle Line, Downtown Line and Thomson East Coast Line – as well as highways.  Why are we talking about Pan-United Corporation you might ask. Well, the firm had in February reported a net profit of S$20.4 million for the second half of its 2023 financial year ended December, up 107 per cent from the year ago period.  The performance came amid higher revenue, driven by the firm’s concrete and cement business. But how does the firm assess its latest performance and what will be its key drivers of growth? Meanwhile, Pan-United Corporation also plans to transform its business model to become a solutions provider and sell its intellectual property in sustainable concrete – so what can we look forward to on this front?  On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to May Ng, CEO, Pan-United Corporation.

This is a conversation you would want to listen to especially if you have an elderly family member at home.  Started as a R&D team consisting of a group of engineers from the Agency of Science, Technology and Research (A*STAR), Soundeye is a social enterprise that uses sound recognition and radar sensors to detect abnormal events such as when an elderly member gets up out of bed or stands up from a wheelchair.  More notably, the startup aims to detect falls and calls for help without the use of CCTVs to ensure privacy.  The firm currently serves clients within and out of the elderly market, including the Thye Hua Kwan Nursing Home, the Bishan Home, the Cerebral Palsy Alliance Singapore, and even the Changi Airport Group.  It recently completed a number of projects related to surveillance and bed exit monitoring in a nursing home in Japan. Meanwhile, Soundeye is part of the Sustainable Impact Accelerator Programme by raiSE and Quest Ventures. It also works closely with government agencies here in Singapore, and has secured subsidies for up to 80% of its projects as of last May, based on a report by Krasia. But what is the strategic value of working with this group of players and how does the firm intend to rapidly scale up its business? On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Yeow Kee Tan, Chief Executive Officer, Soundeye.