Under The Radar

Money FM 89.3

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.

  1. 1d ago

    Under the Radar: (SPECIALS) Why is the “next China” still China? Chairman of McKinsey Greater China explains.

    In January 2023, at the World Economic Forum in Davos, several dozen Asia-focused CEOs and senior executives of the world’s largest companies gathered for a private dinner.  The executives had commanded operations employing tens of thousands of people, with their supply chains spanning dozens of cities from Shanghai to London and Abu Dhabi.  They had invested heavily in, and also reaped the benefits of China’s rise over the past two decades. But yet for the first time in memory, the mood was different. The conversation didn’t centre around growth targets or market expansion, but instead, it was about whether their China strategies worked at all.  It was about how China is navigating geopolitical tensions, economic uncertainty, the ongoing housing market downturn and rapid technological change.  And with that comes the big question. “What’s the next China?” How should companies diversify or hedge against China?  Well, according to the host of that private dinner, Joe Ngai, Chairman, McKinsey Greater China, the next China, is still China. He details why in his new book “The Next China is still China”, co-written with Nick Leung, McKinsey Global Institute Director and Senior Partner in Hong Kong. In this “In the Community” Special episode of Under the Radar, finance presenter Chua Tian Tian sat down with Joe Ngai, Chairman, McKinsey Greater China for more. They also discussed how companies can redesign their strategies to sell to China going forward. See omnystudio.com/listener for privacy information.

    Under the Radar: (SPECIALS) Why is the “next China” still China? Chairman of McKinsey Greater China explains.
  2. Aug 24

    Under the Radar: How will artificial intelligence augment the growth trajectory of digital transformation player Temus? Its CEO explains.

    Digital transformation has become one of the defining priorities for organisations over the past decade.  What began as a push to digitalise customer touchpoints has since evolved into a broader effort to rethink business models, modernise legacy technology, strengthen cybersecurity and more recently, harness the power of artificial intelligence to improve productivity and create new sources of growth.  And today, we’re going to revisit a company whose role in digital transformation has never been more important.  Set up by global investment firm Temasek in 2021, our guest Temus works with government agencies and public institutions to enhance digital services, improve citizen experiences and drive national-scale transformation in line with Singapore’s Smart Nation vision to create a more connected, intelligent and efficient society.  For instance, Temus teamed up with the Singapore Department of Statistics to design and deliver the SingStat Mobile App to enable fast access to official statistics. It also worked with a national education authority to reimagine Special Education experiences for students, parents, and staff alike through comprehensive service design. On the private sector front, the company works with businesses to innovate, scale and thrive amid the ever-changing business environment, by helping them adopt what it calls human-centered digital solutions that drive real business outcomes. And more things are brewing for Temus than before. In October 2025, the firm inked three new strategic collaborations with the Infocomm Media Development Authority in Singapore, as well as with insuretech player Peak3 and third-party AI assurance provider Resaro to accelerate AI transformation across Singapore.  Fast forward to May 2026, it’s also launched an AI Foundry to expand Singapore’s AI talent base and strengthen production-grade AI delivery for enterprises.  But what should we know about the moves by Temus to position itself as a transformation partner of choice for both the public and private sectors in Singapore? How will AI augment its growth trajectory? On Under the Radar, finance presenter Chua Tian Tian posed these questions to Sng Ren Yeong, CEO, Temus. See omnystudio.com/listener for privacy information.

    Under the Radar: How will artificial intelligence augment the growth trajectory of digital transformation player Temus? Its CEO explains.
  3. Aug 17

    Under the Radar: (SPECIALS) What are the long-term consumption trends bolstering white label chocolate giant Barry Callebaut? Its President for the AMEA region spills the cocoa beans.

    When you unwrap your favourite chocolate bar from one of your favourite brands, do you know who actually makes the chocolate?  You’d be surprised to find out that it may not be the company whose name appears on the wrapper.  In fact, some of the world’s biggest confectionery brands like Nestle, Mondelez and Hershey rely on specialist manufacturers, or so-called white label producers, who’re often working quietly behind the scenes.  Our guest for today is one of the largest – Barry Callebaut. The company’s roots can be traced back to over a century ago in 1911, when Octaaf Callebaut, the grandson of a brewer in the small Belgian town of Wiez secretly worked on his first chocolate recipe.  His secrets of chocolate making would go on to be passed from one generation to another, who learned the craft from their predecessors who still make chocolate with all of their senses. Fast forward to today, Barry Callebaut is a world leading provider of high quality chocolate experiences across the full spectrum of chocolate, cocoa, cacao coatings and non-cocoa alternatives, and is involved from the sourcing and processing of cocoa beans to the crafting of premium chocolates, fillings and decorations.  With over 60 production facilities worldwide, Barry Callebaut serves the entire food industry from large-scale food manufacturers to artisanal and professional users such as chocolatiers, pastry chefs and restaurants.  Barry Callebaut is a company that we want to zoom in on given how it is a gauge of global chocolate demand following a period of record cocoa prices. That’s particularly so with concerns surrounding a strong El Nino weather pattern in the coming months.  To this end, the firm had in July 2026 reported that third quarter sales volumes rose for the first time in two years, and also forecast a smaller full-year volume decline than earlier expected.  So what’s bolstering demand and how does the firm intend to mitigate headwinds from seasonal weather patterns? What are the longer term consumption trends that will support Barry Callebaut’s business looking ahead? Speaking of the longer term, the firm also opened its Callebaut Global Innovation Center in Singapore to accelerate innovation and transformation across the chocolate and cocoa industry.  But what is the strategic role played by its operations in Singapore and how important will the new innovation center be in positioning the firm for future growth? On Under the Radar, finance presenter Chua Tian Tian posed these questions to Vamsi Mohan Thati, President of AMEA (Asia Pacific, Middle East and Africa) at Barry Callebaut Group. See omnystudio.com/listener for privacy information.

    Under the Radar: (SPECIALS) What are the long-term consumption trends bolstering white label chocolate giant Barry Callebaut? Its President for the AMEA region spills the cocoa beans.
  4. Aug 3

    Under the Radar: What should we know about ASUS Cloud’s emphasis on Sovereign AI right now? Its CEO spills the beans.

    Some of the world’s most successful technology companies didn’t begin in gleaming corporate campuses. They began with bold ideas exchanged at the simplest of places. Sometimes, that place was a diner offering bottomless coffee and huge slabs of pancakes. For ASUS, that place was a humble coffee shop in Taipei. Back in 1989, a group of ambitious engineers came together with a vision of creating a “small and beautiful company”, one that could develop world-class technology from Taiwan for the rest of the world.  More than 30 years on, ASUS is a global tech leader best known for its world-class motherboards, high-quality personal computers, monitors, graphics cards, routers and other technology solutions.  But the company is now evolving beyond hardware and doubling down on artificial intelligence infrastructure and cloud services – an area it sees potential as the adoption of AI increases rapidly.  For one thing, ASUS teamed up with the Taiwanese government to found the Taiwan AI Cloud Corporation in 2021 to build secure, scalable and sovereign AI infrastructure.   The company helps governments and enterprises roll out and operate Sovereign AI systems, where their AI models and data are secured and operated within their own borders, laws and culture.  It says it is seeing a global trend of countries investing in local capabilities to drive innovation specific to their language, culture and the economy. But where is demand coming from and how big of an opportunity is this for the firm? Beyond specific nations, who should build the collective AI infrastructure for Asia, and how should they monetise them? What will this mean for ASUS and Taiwan AI Cloud? On Under the Radar, finance presenter Chua Tian Tian posed these questions to Peter Wu, CEO of ASUS Cloud and Taiwan AI Cloud. See omnystudio.com/listener for privacy information.

    Under the Radar: What should we know about ASUS Cloud’s emphasis on Sovereign AI right now? Its CEO spills the beans.
  5. Jul 27

    Under the Radar: (SPECIALS) All about that pair of Levi’s Jeans, the firm’s turnaround efforts post re-listing, and its growth story in Asia

    There’s nothing quite like slipping into a sturdy, yet comfortable pair of jeans for work on casual Fridays, or even when out shopping on a Monday night.  To understand why, we have to turn the clock back more than 170 years to California during the Gold Rush. Back then, miners and labourers in the American West worked under punishing conditions, and their work trousers often ripped at the points of greatest strain, particularly around the pocket corners, where heavy tools and equipment were carried. Then came the day, May 20, 1873, where dry goods merchant Levi Strauss and tailor Jacob Davis obtained a US patent on putting rivets in men’s work pants for the very first time. The rivets made the pants dramatically stronger, and durable enough for miners, labourers and cowboys who needed clothing to withstand punishing conditions. And with that, the first riveted clothing – a pair of jeans made using denim – was made and sold. And the rest was history.  More than a century on, modern day jeans are more than just workwear, and continue to make waves in the fashion world. The same goes for Levi’s the company too.  Since returning to the public markets in 2019, the firm has been actively transforming its business through high-profile marketing efforts, pushing higher margin direct-to-consumer sales, and actively attracting women customers.  In July 2026, the firm reported second quarter net revenue of US$1.56 billion, an 8 per cent increase on the year. The apparel maker now expects its fiscal 2026 net revenue to grow between 7 and 7.5 per cent, higher than the 5.5 per cent to 6.5 per cent forecast previously. Growth was also seen across all regions, with a 9 per cent on-year increase in net revenues for its largest market, the Americas. For Asia, that figure stood at 10%.  But how does the firm assess its performance as a whole, and how far will it double down on its business in Asia? What are the key opportunities in the region, and how is the firm positioning denim as a to-go fashion choice given the younger generation’s interest or obsession with athleisure wear? In this “On the Go” Special episode of Under the Radar, finance presenter Chua Tian Tian headed down to Levi’s Singapore flagship store at ION Orchard to get the answers from Vicky Skelton, Managing Director, East Asia Pacific, Levi Strauss & Co. See omnystudio.com/listener for privacy information.

    Under the Radar: (SPECIALS) All about that pair of Levi’s Jeans, the firm’s turnaround efforts post re-listing, and its growth story in Asia
  6. Jul 20

    Under the Radar: How is visual search and discovery platform Pinterest intending to close the monetisation gap in Asia and how is it utilising AI to optimise advertising reach?

    Remember the time when we would scour through magazines and newspaper articles to cut out photos and design ideas to paste on your scrapbooks for an art project?  Well, we might not do that physically these days, but millions of us still do so digitally through a platform called Pinterest. And yes, that is the company that we’re going to talk to today.  Founded in 2010, Pinterest is a visual search and discovery platform where people find inspiration, curate ideas and shop for products. Unlike traditional social media of its time, the San Francisco headquartered company began as a digital pinboard and was focused on helping users find the inspiration they need to lead the life they love.  This positions Pinterest as a high-intent platform where users arrive not just to browse, but with a purpose. Users sit closer to the moment of decision making, where inspiration can turn into action and commerce. Today, Pinterest sees 1.5 billion pins saved every week, with over half of the users thinking of the platform as a place to shop. In May 2026, the firm reported FY2026 Q1 revenue of US$1.008 billion, up 18 per cent on a yearly basis. Pinterest also saw its tenth consecutive quarter of double-digit user growth with its base of global monthly active users reaching 631 million, an 11 per cent increase over the previous year.  But what is the firm’s assessment of its latest performance as major retailers and advertisers in the US grapple with tariffs? Meanwhile, the firm continues to see revenue driven by the US and Canada even with a growing user base in Asia. So how far is Asia an undertapped market for the firm and what is the company doing to close the monetisation gap? Also – the firm is also doubling down on AI-driven platform improvements, but what does this mean in more granular terms, and how will AI help the firm optimise advertising reach and consequently its top and bottom lines? On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Martin Machinandiarena, Managing Director, Channel Sales, Pinterest. See omnystudio.com/listener for privacy information.

    Under the Radar: How is visual search and discovery platform Pinterest intending to close the monetisation gap in Asia and how is it utilising AI to optimise advertising reach?
  7. Jul 13

    Under the Radar: (SPECIALS) How is Cisco helping customers modernise their technology capabilities and anticipating future AI threats? Its President for APJC region explains.

    The company that we’re going to talk about today has its beginnings traced back to 1984, when a then married couple from Stanford University helped build the foundation of the Internet by inventing the first-multi-protocol router that helped to link computer networks. If Cisco comes to mind, yes, that is our guest for today. Of course, a lot has changed for Cisco in the decades since its founding, during which we saw a power struggle between investors and its original founders (that was back in the 1990s).  Fast forward to today, Cisco is a worldwide technology leader who prides itself in securely connecting “everything to make anything possible”.  The aim is to power an inclusive future for all, by helping customers reimagine their applications, power hybrid work, secure their enterprise and transform their infrastructure. Increasingly, the firm is also focused on helping customers harness the potential of generative AI safely. On the business front, Cisco has also grown from strength to strength. For its third quarter ended April 25th, Cisco posted record revenue of US$$15.8 billion, up 12 per cent on the year.  Net income on a generally accepted accounting principles (or GAAP) basis came in at US$3.4 billion, a 35 per cent increase on the year. Cisco attributed the performance to the relevance of its technology for connecting and securing AI. But what does the firm mean by that more specifically? Meanwhile, the firm hosted its Cisco Live 2026 in June. At the event held in Las Vegas, the firm announced a slew of products to help customers modernise their technology capabilities and protect critical systems.  Among them – a unified Cisco Cloud Control platform for humans and AI agents to run critical IT infrastructure together. But what are the key takeaways from the event? Also – how is the firm anticipating future AI threats, especially with the development of Claude Mythos, which can independently find vulnerabilities in software and computer systems? On Under the Radar, finance presenter Chua Tian Tian posed these questions to Ben Dawson, President, Asia Pacific, Japan and Greater China, Cisco. See omnystudio.com/listener for privacy information.

    Under the Radar: (SPECIALS) How is Cisco helping customers modernise their technology capabilities and anticipating future AI threats? Its President for APJC region explains.
  8. Jul 8

    Under the Radar: (SPECIALS) Highlights from Temasek Review 2026 as told by CFO of Temasek International Png Chin Yee

    It is the time of the year where global investment firm Temasek releases its annual financial results. To this end, the company reported a Net Portfolio Value of S$518 billion on a mark-to-market basis as at 31 March 2026, representing a doubling of its portfolio over the past decade.  Long-term returns remained resilient, with the 20-year Total Shareholder Return at 6.8% and the 10-year TSR coming in at 7.1%. The five-year TSR stood at 4.6%, weighed down by headwinds in China’s capital markets from 2021 to 2024.  Meanwhile, the one-year TSR was at 10.5%, with NPV rising by S$49 billion on the year thanks to the strong showing of Singapore-based Temasek Portfolio Companies and realised gains from key divestments, though the figure was tempered by the situation in the Middle East. Beyond the present, the global investor announced a major restructuring in August 2025, where it set up three wholly owned entities called: (1) Temasek Singapore, (2) Temasek Global Investments and (3) Temasek Partnership Solutions to target three distinct portfolio segments to tackle macroeconomic changes in an increasingly uncertain world. The three entities came into effect in April 2026. But how does the structural overhaul help Temasek sharpen differentiated strategies to achieve better outcomes? Where are the opportunities for the firm looking ahead? In her fifth year covering the Temasek Review, finance presenter Chua Tian Tian headed down to Temasek’s office for this “On the Go” Special episode of Under the Radar, where she posed the questions to Png Chin Yee, Chief Financial Officer, Temasek International and President, Temasek Singapore. See omnystudio.com/listener for privacy information.

    Under the Radar: (SPECIALS) Highlights from Temasek Review 2026 as told by CFO of Temasek International Png Chin Yee

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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.

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