Today we’re going to bring you an inside look into a mainboard-listed tourism company that bought over the troubled Singapore Flyer back in 2014. 

Bingo if you’ve guessed Straco Corporation. Listed on the SGX, Straco Corporation is a local developer and operator of aquatic related facilities and tourism related assets. 

Aside from the Singapore Flyer, the firm’s other main operating assets include the Shanghai Ocean Aquarium next to the city’s landmark Oriental Pearl Tower, the Lixing cable car service at Mount Lishan, and the Underwater World Xiamen on the scenic Gulangyu Island. 

But  why are the majority of Straco Corporation’s assets situated in China and how has the reliance on a single market weighed on the firm during the pandemic amid the lockdowns we saw in China? 

And with the Chinese economy recovers post-pandemic, how are things looking like for Straco Corporation right now? Also – what is on the top of Straco’s to-do-list right now to make up for lost revenues over the past three years or so? 

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to  Amos Ng, Group Chief Financial Officer and Sean Wu, Senior Vice President (Corporate Development & Risk Management), Straco Corporation.

Today we’re going to bring you an inside look into a mainboard-listed tourism company that bought over the troubled Singapore Flyer back in 2014. 
Bingo if you’ve guessed Straco Corporation. Listed on the SGX, Straco Corporation is a local developer and operator of aquatic related facilities and tourism related assets. 
Aside from the Singapore Flyer, the firm’s other main operating assets include the Shanghai Ocean Aquarium next to the city’s landmark Oriental Pearl Tower, the Lixing cable car service at Mount Lishan, and the Underwater World Xiamen on the scenic Gulangyu Island. 
But  why are the majority of Straco Corporation’s assets situated in China and how has the reliance on a single market weighed on the firm during the pandemic amid the lockdowns we saw in China? 
And with the Chinese economy recovers post-pandemic, how are things looking like for Straco Corporation right now? Also – what is on the top of Straco’s to-do-list right now to make up for lost revenues over the past three years or so? 
On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to  Amos Ng, Group Chief Financial Officer and Sean Wu, Senior Vice President (Corporate Development &amp; Risk Management), Straco Corporation.

We speak with businesses, industry leaders, venture capitalists and startups on their assessment of the business environment they're in, and what the future holds for them.

We speak with businesses, industry leaders, venture capitalists and startups on their assessment of the business environment they're in, and what the future holds for them.

Under The Radar

From politics to pop culture, we've got it all. Get ready to immerse yourself in the world of business, lifestyle, culture, travel, and sports.

From politics to pop culture, we've got it all. Get ready to immerse yourself in the world of business, lifestyle, culture, travel, and sports.

The Evening Runway with Hongbin Jeong, Roshan Gidwani and Chua Tian Tian

Under the Radar: How far will China’s travel recovery bolster Straco Corporation’s financials and is diversification on the cards?

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.

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.

Under the Radar: Gojek Singapore’s GM on driver supply crunch, path to profitability and whether players in the ride hailing industry can achieve sufficient economies of scale

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.

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.

Under the Radar: SGX-listed HRnetGroup’s Chief Corporate Officer sheds light on the recruitment and staffing landscape, lowering revenues and improving margins

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 is 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 sentiment within financial markets today as we speak to one of the earliest fintech companies in the world. . 
Founded in 1992, our guest is 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.

Under the Radar: Saxo’s founder and CEO Kim Fournais sheds light on investors sentiment, pricing revamp and changes in leadership at the investment firm

Under the Radar: How far will China’s travel recovery bolster Straco Corporation’s financials and is diversification on the cards?

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