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. Under the Radar: How is Patience Capital Group revitalising ski resorts in the Japanese countryside areas of Myoko and Madarao and building them into recreational destinations? Its CEO explains.

    Jun 8

    Under the Radar: How is Patience Capital Group revitalising ski resorts in the Japanese countryside areas of Myoko and Madarao and building them into recreational destinations? Its CEO explains.

    Today we’re going to take you to a sleepy pocket of Japan’s countryside called Myoko. Located about a three-hour train ride from Tokyo, Myoko was said to be one of the oldest ski areas in Japan, where it once saw young skiers streaming along its neon-lit streets. That was, of course, during the economic boom back in the 1980s and 1990s, before ski-lovers swapped Myoko for other popular destinations like Niseko in Hokkaido and Hakuba in Nagano.  But one Singaporean company is hoping to inject life back into the area by buying up ski resorts in Myoko and the nearby Madarao, and building an integrated township out of them. And that company is called Patience Capital Group. Founded in 2019 by the former head of Japan at Singapore’s sovereign wealth fund GIC Ken Chan, Patience Capital Group manages assets on behalf of institutional and private investors worldwide.  The firm says it currently manages two close-ended funds. The first is a hospitality fund focused on unlocking value in the Japanese tourism sector, and that’s where the ski resorts come in.  The fund, in particular, was said to have raised 39 billion yen from institutional investors ranging from sovereign wealth funds to a university endowment fund. The other close-ended fund, meanwhile, is a residential fund investing in mid-market residential assets located in the Greater Tokyo Area.  Beyond that, the firm also has a lifestyle vertical that aims to create a suite of consumer experiences and businesses to complement its portfolio and encourage placemaking in its destinations. But how will the various business operations under Patience Capital Group come together to create viable recreational townships in Japan? Meanwhile, the firm says it is tapping into the Japanese tourism and residential markets given a rise in investors’ interest in the country amid relatively low cost of capital.  But how much money is in the Myoko and Madarao areas exactly and what are the risks of pulling off a transformation project of this size? How sustainable is the tourism boom in Japan for long-term infrastructure projects in both the recreational and residential space? On Under the Radar, finance presenter Chua Tian Tian posed these questions to Ken Chan, CEO, Patience Capital Group. See omnystudio.com/listener for privacy information.

    56 min
  2. Under the Radar: (SPECIALS) From A&W franchise to world’s largest hotel chain operator and beyond – how will APAC ex-China region augment Marriott International’s growth story looking ahead? Its COO for the region explains.

    May 25

    Under the Radar: (SPECIALS) From A&W franchise to world’s largest hotel chain operator and beyond – how will APAC ex-China region augment Marriott International’s growth story looking ahead? Its COO for the region explains.

    Today we’re going to talk all about a leading hospitality player who began its business as not a property owner but an A&W Root Beer franchise!  Founded by J. Willard and Alice Sheets Marriott close to a century ago in 1927, our guest for today Marriott International got its start quenching people’s thirst during the hot muggy summers in Washington D.C.  The company then moved into serving food and becoming The Hot Shoppes, where it opened the first drive-in restaurant on the East Coast in 1928. The firm had also at one point dabbled in inflight catering as well as cafeteria management at government buildings and major institutions between the 1930s and the 1950s. But it was only thirty years after its founding in 1957 that the Hot Shoppes Inc. expanded into the lodging business with the Twin Bridges Motor Hotel in Alington, Virginia, and the rest was history.  The Hot Shoppes was renamed Marriott Corporation in 1967, before splitting into Host Marriott Corporation and Marriott International Inc in 1993 as it grew in the hotel business.  More recently in 2016, Marriott International bought over Starwood Hotels & Resorts Worldwide for US$13 billion, bringing in 11 new brands including St. Regis Hotels and Sheraton Hotels, making it the largest hotel chain operator in the world. In 2025, the region delivered its third straight year of record development performance with nearly 200 deals signed, adding over 28,000 rooms to its development pipeline. That’s a 32 per cent increase over the year, driven by growth markets including India, Thailand, Vietnam, Malaysia and Japan. But what are the key trends supporting the development activity and which is the most important market for the firm?  Meanwhile, the firm is also laser focused on doubling down room signings for its luxury segment brands including JW Marriott and The Ritz-Carlton and Luxury Collection. It is also looking at expanding beyond traditional gateway cities to emerging destinations with rich cultural heritage. But what should we know about the moves, and how will they augment the firm’s top and bottom line numbers? On this Special episode of Under the Radar, finance presenter Chua Tian Tian posed these questions to Neeraj Govil, Chief Operating Officer, Asia Pacific excluding China (APEC), Marriott International. See omnystudio.com/listener for privacy information.

    35 min
  3. Under the Radar: (SPECIALS) How is Temasek encouraging long term investors to put money into the green transition? Its Vice Chairman of Sustainability explains.

    May 22

    Under the Radar: (SPECIALS) How is Temasek encouraging long term investors to put money into the green transition? Its Vice Chairman of Sustainability explains.

    This time, finance presenter Chua Tian Tian got up bright and early to head down to global investor Temasek’s corporate headquarters located at The Atrium@Orchard to find out more about the key happenings at Ecosperity Week 2026. Organised by Temasek, Ecosperity is the firm’s key platform for sustainability and advocacy.  Themed ‘Asia’s Race Towards 2030: Powered by Innovation, Driven by Intent’, the event, which took place earlier this week, brought together leaders across government, business, finance and civil society to explore practical, scalable innovations, policies and partnerships that can help translate the region’s 2030 climate ambitions into real-world impact.  So where does Temasek see capital moving and how is it encouraging long term-investors to put money into the energy transition through a systems approach across renewables, infrastructure and other climate technologies?  How does Temasek see what makes a green project investable and how does it align the interests of innovators, policymakers and investors to get deals done?  And in terms of execution, how can policymakers and the business community come together to structure deals in such a way to de-risk projects while unlocking capital? Tian Tian posed these questions to Steve Howard, Vice Chairman, Sustainability, Temasek. See omnystudio.com/listener for privacy information.

    31 min
  4. Under the Radar: What are the key opportunities for asset performance management solutions firm Evercomm as Southeast Asian economies walk the tightrope between industrial growth and net-zero ambitions?

    May 18

    Under the Radar: What are the key opportunities for asset performance management solutions firm Evercomm as Southeast Asian economies walk the tightrope between industrial growth and net-zero ambitions?

    Helping companies build resilience, unlock growth opportunities and navigate evolving regulations landscape across issues surrounding carbon, waste and energy – that’s what we’re going to talk about today. Founded in 2013, our guest Evercomm is a Singapore-based engineering and technology company that aims to assist enterprises in optimising resource efficiency, managing climate risk scenarios and meeting international compliance standards to ensure long-term operational and financial sustainability.  This is done through the use of the firm’s advanced planning and simulation tools that provide precision-driven carbon, energy and waste reduction strategies that are customised for different company’s needs and operations.  The company said its strategic partners include CTBC Bank, Mitsubishi Electric as well as Shell Energy. Its solutions are also used in projects involving the Punggol Digital District and the Jurong Port. But why are such asset performance management solutions provided by Evercomm Singapore critical to enterprises, particularly those in the energy intensive sector?  What are the key opportunities for the firm particularly in Southeast Asia where emerging economies walk the tightrope between industrial growth and net-zero ambitions? On Under the Radar, finance presenter Chua Tian Tian posed these questions to Ted Chen, Co-founder, CEO and Chief Product Architect, Evercomm.   See omnystudio.com/listener for privacy information.

    17 min
  5. Under the Radar: How is Elite UK Reit making itself more appealing to the investing community? Its CEO tells us more.

    Apr 27

    Under the Radar: How is Elite UK Reit making itself more appealing to the investing community? Its CEO tells us more.

    We’ll revisit the real estate sector today by looking at a REIT that is solely focused on the UK market.  Founded in 2020 and listed on the Singapore Exchange, Elite UK Reit aims to provide unitholders with what it calls a secure income stream from public sector tenants such as the UK Department for Work and Pensions.  The Reit’s portfolio spans across 148 properties which are mostly freehold or virtually freehold in places within town centres, near amenities or transportation nodes.  More notably, the Manager of the Reit said it is also tapping on sectors that exhibit strong growth potential in the UK, say purpose-built student accommodation and built-to-rent residential assets.  On the whole, the manager said the Reit has what it describes as a “long and diversified lease expiry profile and prudent capital management”, and is positioned for sustainable stability and growth from government-leased properties and the living sector.  All in, Elite UK Reit posted a distribution per unit of £0.0149 (1.49 British pence) for the second half of the 2025 financial year ended Dec 31. That’s around 1.4 per cent higher than the DPU seen in H2 2024. The figure also represented a payout ratio of 95 per cent.  Elite UK Reit is a counter that we want to talk about given how the firm is on the charm offensive to appeal to the investing community.  For one thing, the Reit had in February 2026 signed new lease agreements with the UK Government for properties occupied by the Department for Work and Pensions, a move that has helped it improve its Weighted Average Lease Expiry (or WALE) to 7.2 years from 2.4 years. The Reit’s manager said this is one of the longest WALE duration among Singapore Reits.  Beyond that, the Reit is also actively repositioning some of its properties including one in Peel Park, Blackpool. Its manager said the Reit has secured planning consent to develop a data centre building on the roughly 20-acre plot. So how will the moves augment the firm’s growth trajectory while increasing income stability? On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Joshua Liaw, CEO, Elite UK Reit. See omnystudio.com/listener for privacy information.

    31 min
  6. Under the Radar: What are the key opportunities and barriers of growth for biofuel providers? CEO of Hong Kong-based EcoCeres spills the beans.

    Apr 13

    Under the Radar: What are the key opportunities and barriers of growth for biofuel providers? CEO of Hong Kong-based EcoCeres spills the beans.

    Today we turn our attention to look at renewable energy as companies around the world look to decarbonise and reduce their consumption of traditional fossil fuels.  Founded in 2008 with a mission to address the challenges of climate change, our guest for today is pure-play renewable fuel producer EcoCeres.  Backed by international investors Bain Capital and Kerogen Capital, the company transforms sustainable feedstocks into advanced biofuels and renewable products such as Sustainable Aviation Fuel (SAF) or Hydrotreated Vegetable Oil (HVO).  The firm says its solutions turn 100% waste-based biomass into renewable fuels, renewable chemicals and materials resulting in up to 90% reduction in lifecycle greenhouse gas emissions.  So far, EcoCeres said some of its customers include Cathay Pacific and HSBC, and that it holds 20% of the global SAF market in the years 2022 to 2023. EcoCeres is a company that we want to speak to given the rise in adoption of biofuels around the world to cut greenhouse gas emissions.  For one thing, the International Air Transport Association (or IATA) had estimated that Sustainable Aviation Fuel could contribute around 65% of the reduction of emissions needed by the aviation industry to reach net zero carbon dioxide emissions by the middle of this century (or 2050 that is). So what opportunities does this present for EcoCeres looking ahead? What are the barriers to producing enough biofuels for consumption, and which markets will be key to the growth of the biofuels industry?  Speaking of markets, EcoCeres opened Malaysia’s first commercial-scale sustainable aviation production facility in January 2026. But what were the reasons behind the move, and which are the other markets of interest to the firm?  Meanwhile, media reports out in December 2025 and January 2026 noted that EcoCeres was eyeing a potential Hong Kong IPO that could raise about US$1 billion.  But what was the rationale behind the move and how would the company use the proceeds, if it turns out to be true?  On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Matti Lievonen, CEO, EcoCeres. See omnystudio.com/listener for privacy information.

    28 min

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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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