Under The Radar

Taking an elevator or escalator has probably become an integral part of our lives, but the companies behind them often go unnoticed. And that’s exactly what we’re going to talk about today.

Founded in 1910, KONE is a global leader in the elevator and escalator industry. It provides elevators, escalators and automatic building doors as well as solutions which can add value to the life cycle of any building. 

The firm has been present in Singapore since 1978 and is now one of the fastest growing elevator and escalator companies in the country, with its solutions present in major malls and infrastructure such as the Marina Bay Sands, the Circle Line and Jem. 

It is also diversifying beyond escalators and elevators to integrate robots in buildings. For one thing, the firm collaborated with Changi General Hospital and CapitaLand Investment to advance the integration of robotics in buildings. 

Question is – why is Kone diversifying beyond its traditional lines of business amid the Fourth Industrial Revolution? 

In the meantime, the firm had in July reported lower than expected second-quarter order numbers due to weather demand in its key Chinese market as low construction activity continues to weigh on demand for new elevators and escalators. But what is the situation like in Singapore?

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Sylvia Koh-Gratton, Managing Director, KONE Singapore.

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The VC investment landscape is back with focus as we speak to the venture arm of one of Japan’s largest consumer credit companies, Credit Saison. 

Called Saison Capital, the corporate venture arm invests in Pre-Seed to Series B companies with a focus on Southeast Asia and India. 

While the firm is sector agnostic, it likes to work with founders that are building platforms or ecosystems that have the potential to distribute financial services to the underbanked. 

Question is, what expertise does Saison Capital want to provide to startups and how does that influence the companies it invests in?

Meanwhile, data from Pitch Book showed venture capital funding globally almost halved in the first six months of 2023, despite the earlier artificial intelligence frenzy. Are VCs running out of dry powder or are they just merely not investing?

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Qin En Looi, Partner, Saison Capital.

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We’ve talked about electric vertical take-off and landing (eVTOL) aircrafts on the show. They come in the form of flying cars, air taxis or even delivery drones. 

But just like how cars need to be parked at car parks or garages, and how aeroplanes need to stay at airports, flying cars and delivery drones also need to be parked somewhere once they reach their destinations. 

Our guest for today designed the equivalent of car parks for such aircrafts. 

Founded in 2019, Urban-Air Port designs, develops, manufactures, sells and operates ground, air and digital infrastructure. 

More notably, the firm had in April last year opened what it calls the world’s first fully operational urban air-port and charging hub for eVTOL vehicles in Coventry in the UK  to spearhead a new age of zero-emission, low-congestion urban transport. 

With Mordor Intelligence estimating the urban air mobility market to grow to US$36.75 billion by 2035, how lucrative is it for players to build hubs that specifically caters to this category of aerial vehicles? 

And how will the competitive landscape change in the near term?

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Andrea Wu, CEO, Urban-Air Port.

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This company will certainly ring a bell for those who’ve been keeping an eye on the movers on the Singapore exchange. 

Our guest for today is DFI Retail Group, or a leading pan-Asian retailer that owns the Cold Storage and Giant chains of supermarkets, Guardian pharmacies and 7-Eleven convenience stores here in Singapore.

At a group level, DFI Retail operates over 10,500 outlets in 13 countries and territories and has a workforce of over 216,000 people. 

It returned to the black with a net profit of US$8 million for the first half of this year, after logging a net loss of US$58 million in the previous year. 

But to what extent does this reflect improved household spending, particularly on food and groceries? 

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Yoep Man, Managing Director, Food, Singapore, DFI Retail Group,  who is in charge of DFI Retail Group’s food and supermarket business.

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Today we’re going to talk about a company that supplies steel pipes, tie rods, as well as crane rails for waterfront, underground and even rail projects. 

Founded in 2011, Mlion Corporation is a foundation solutions company that focuses on port and waterfront developments, civil excavation and power generation related infrastructure in Asia.  

It also adds value to the supply chain by providing downstream services such as warehousing, storage and logistics to access local markets. 

Think of the landmark Apple Store at Marina Bay Sands Waterfront, the T235 Viaduct and Tunnels for the RTS Link to Johor Bahru, and the Thomson East Coast Line. These are all projects that Mlion had taken part in previously. 

And with offices in Singapore, China, Indonesia, Malaysia, Philippines, Taiwan, Thailand and Timor Leste, which is the biggest market for Mlion financially? 

Meanwhile, steel prices have plunged as more Chinese producer export the commodity. So what does this mean for Mlion in terms of the cost and selling price of its products?

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Eric Leong, Chairman & CEO, Mlion Corporation to share more about the business with us. 

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Let us put on our lab coats and head over to the chemistry lab today! That’s probably what you may have heard years ago as a student.

Why am I bringing this up? Well, I’m bringing this up because our guest for today is New York Stock Exchange-listed Waters Corporation, or a global leader that makes analytical instruments and software used in scientific laboratories.  

Founded in 1958, Water Corporation serves a wide range of customers including those from the pharmaceutical, food and environment sciences as well as design and development industries.

Its instruments and software ensure the safety of the medicines we take, the purity of the food and water we consume, and the quality and durability of products we use every day. 

Waters Corporation has over 8,200 employees worldwide, and operations in over 35 countries. But what is its scale within Singapore, and how does it assess its growth in the coming years? 

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian found out more about Waters Corporation’s diverse business lines from David Curtin, Vice President Asia Pacific, Waters Corporation.

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It has been slightly more than six months since our interview with Tapestry, or the fashion group behind Coach, Kate Spade and Stuart Weitzman. 

A lot has happened since then. Perhaps the most important development of all is Tapestry’s US$8.5 billion acquisition of its competitor Capri Holdings in August. 

Capri, as we know, owns the brands Versace, Jimmy Choo and Michael Kors. 

Tapestry says the acquisition brings together six highly complementary brands with global reach, powered by Tapestry’s data-rich customer engagement platform, and diversified, direct-to-consumer operating model. 

Just to give you a sense of how big the combined company is – it generated global annual sales in excess of US$12 billion with a presence in over 75 countries and achieved nearly $2 billion in adjusted operating profit in the prior fiscal year.

But what are the financial reasons behind acquiring Capri? What will the mega fashion merger look like operationally? 

And how will the creation of a US fashion powerhouse position Tapestry against larger European rivals such as LVMH?

On Under the Radar, Drive Time’s finance presenter Chua Tian Tian sat down with  Yann Bozec, President, Tapestry Asia Pacific; Chief Executive Officer & President, Coach China for more.

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Do you know that Singapore actually builds electric motorbikes? Yes you’ve heard it right. 

While such bikes are not on the roads of Singapore, they are exported to other Southeast Asian markets such as Indonesia. 

Our guest for today is one of these electric motorbike manufacturers. Founded in 2019, Ion Mobility is a Singapore-based startup that aims to tap the growing appetite for electric vehicles in Southeast Asia. 

The firm launched its M1-S electric scooter in Jakarta in November last year and closed its US$18.7 million Series A round in February this year. 

More notably, it also brought in the world’s leading two and three-wheeler manufacturer TVS Motor Company as one of its strategic investors, to further its growth in the electric two wheeler space within Singapore and Indonesia. 

So what is Ion Mobility’s growth trajectory like in the near future with this partnership? 

Meanwhile, how is the firm working with authorities and agencies within Singapore to open up new business models and develop other products that can be sold within the country?

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to James Chan, CEO of Ion Mobility and Lee Pak Sing, Assistant Chief Executive for Trade and Connectivity, EnterpriseSG.

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Today we’re going to bring you an inside look into one of the oldest bakeries in Singapore. 

Make a guess – you might have just passed by one of their outlets today! 

Back in 1926, Polar Puffs and Cakes, or the then Polar Cafe opened its first outlet on 51 High Street, where it was known for its Curry Puffs, ice-cream and chilled beverages. 

The cafe was more notably the go-to place for politicians, lawyers and businessmen due to its strategic location near the trading harbour. Among them – prominent Hokkien businessman Lim Bo Seng, according to the firm. 

Fast forward to the present, Polar has moved away from the cafe business by adopting a takeaway model. That started in 1996 when the company signed a supply partnership with Exxonmobil to turnaround the slowing cafe business. 

And such partnerships have become an integral part of the business. Currently, Polar operates over 190 locations in Singapore. 165 are part of partnerships with businesses, while 30 of them sell directly to consumers in malls.

So how does the firm navigate its relationship with such partners, and what are some of Polar’s plans for the future?

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Francis Looi, CEO, Polar Puffs & Cakes.

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It is probably time that you’re thinking about dinner on a Friday afternoon, and on that note – how about a warm hearty bowl of noodles to kickstart your weekend?

Our guest for today is one of the largest manufacturers of fresh noodles in Singapore. 

Founded in 1996 as a noodle supplier, Leong Guan has since opened its own noodle manufacturing factory in 2006 and currently provides not only noodles, but also other food products such as tofu and dumpling skins.

It has also been targeting overseas markets by adopting technology to improve the shelf life of its products or to develop new products that can be exported. 

More notably, the firm was also introduced to an in-market buyer through EnterpriseSG to further expand their footprint into the US. But what should we know about Leong Guan’s foray into the West? 

On Under the Radar, Drive Time’s finance presenter Chua Tian Tian posed these questions to Kevin Lim, Head of Strategy & Insights, Leong Guan Food Manufacturer.

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