Today we’re going to revisit one of our guests that’s long been a cornerstone of Singapore’s mobility ecosystem.

Think the yellow and blue coloured taxis that ply the streets, or the SBS Transit buses and Mass Rapid Transport or MRT trains we take to work and to go home.

Bingo if you’ve guessed ComfortDelGro, a household name in Singapore that has also evolved into one of the largest land transport firms in the globe.

And talking about evolution and change, 2025 is shaping up to be a pivotal year for the group’s point-to-point business, having in September acquired all of ST Engineering Land Systems’ shares in taxi operator CityCab for a total purchase consideration of S$116.3 million.

While ComfortDelGro had been managing CityCab since 2005, what would the full ownership of CityCab mean for ComfortDelGro?

But beyond acquisitions, ComfortDelGro is also making bold strides in the autonomous mobility space.

The firm had in March launched its first robotaxi pilot programme in Guangzhou, China, as part of a partnership with Pony AI, a company involved in the large-scale commercialisation of autonomous mobility.

And in September, the firm announced that it would expand the autonomous mobility services to Singapore, starting with the Punggol area early next year, in line with the country’s plan to integrate mobility solutions into existing transportation infrastructure.

But what should we know about the move, and how would the introduction of autonomous vehicles shake up the point-to-point mobility ecosystem, and in particular, the relationship between customers and taxi or private hire drivers?

On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Michael Huang, Head of Singapore Point-to-Point Mobility Business, and CEO of China Business Unit, ComfortDelGro.

See omnystudio.com/listener for privacy information.

Today we’re going to welcome you aboard Singapore Airlines as it reaches out to greater skies in a fast changing business environment.

Founded some 50 years ago through the demerger of the Malaysia-Singapore Airlines in 1972, SIA has evolved into one of the most recognised and respected travel brands globally.

The Singapore flag carrier and its low cost subsidiary Scoot now fly to over 120 destinations, and operates the world’s longest non-stop flight – a 19-hour ride from Singapore to New York City.

SIA has long been presented in business schools as a textbook example of “cost-effective service excellence”, combining premium service with rigorous efficiency to deliver profitability and brand prestige.

But how is this playbook evolving as SIA navigates an intensifying competitive landscape?

For one thing, the ongoing US-China trade war, Middle East tensions and oil price volatility continue to weigh on airlines such as SIA.

At the same time, Gulf carriers appear to have grown in prominence on long-haul flows and now capture sizable shares on some key city pairs, given the Middle East’s status as a gateway to Europe.

To stay ahead, SIA appears to be re-engineering parts of its product and network. In 2024, SIA said it will spend S$1.1 billion to retrofit 41 Airbus A350-900 long-haul and ultra-long-range aircraft with newer cabin products.

There were also adjustments to mileage redemption policies in 2025, which prompted conversations among customers and industry watchers. So how does the airline distill the changes into a single, condensed strategy for the future?

Professor Jochen Wirtz, Vice Dean of MBA Programmes and Professor of Marketing at the National University of Singapore has been studying the firm for over two decades, writing extensively about how the firm manages the tension between achieving product differentiation and cost leadership.

And Lee Lik Hsin, is Chief Commercial Officer at Singapore Airlines.

In this “In the Community” Special episode of Under the Radar, the duo share their thoughts with Money Matters’ finance presenter Chua Tian Tian.

See omnystudio.com/listener for privacy information.

From a mirror glass producer into one of the world’s most enduring industrial giants. Today we’re going to take you through the ins and outs of French multinational corporation Saint-Gobain.

The founding of Saint-Gobain takes us all the way back to 1665, when Louis XIV (the 14th) founded the Royal Mirror Glass Factory, and granted the financier Nicolas Dunoyer and his associates an exclusive privilege to manufacture “mirror glass”.

The goal was to undermine the supremacy of the Republic of Venice in the European mirror market.

Decades later, The Royal Mirror Glass Factory and its competitor, the Thevart Company merged in the 1690s, and the enlarged entity eventually became the modern day Saint-Gobain.

Fast forward to the present, Saint-Gobain designs, manufactures, and distributes materials and solutions for the construction, mobility and industrial markets. Some of its portfolio products include insulation, roofing and yes, glass.

With a presence in 80 countries with more than 161,000 employees, the company aims to be a world leader in light and sustainable construction.

And in Singapore, you can see the firm’s products used in some of its most beloved attractions, from Marina Bay Sands, Gardens by the Bay, Bird Paradise, Rainforest Wild Asia and more. But what should we know about Saint-Gobain’s operations right here in Singapore?

Meanwhile, the firm had in July 2025, reported record high operating income of 2.803 billion euros, up 5 per cent in local currency terms. Notably, Asia Pacific delivered robust organic growth, driven by strong momentum in India and Southeast Asia.

So what are some growth trends that the company hopes to tap on, and how far will operations in Singapore and Malaysia help the company bolster its financial performance in the region amid a slowing economy in China?

On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Lynette Siow, CEO, Saint-Gobain Singapore & Malaysia.

See omnystudio.com/listener for privacy information.

Fashion is an art, but it is also big business. And our guest for today H&M Group has proven that the two can coexist at scale.

Since opening its first store nearly eight decades ago in 1947, the Swedish fashion giant has evolved to a network of over 4,000 stores across 79 markets, with online sales available in 60 markets.

The company prides itself on a simple promise: making great and sustainable designs available to everyone.

Fast forward to 2025, and H&M is seeing strong momentum. In September, the firm reported a bigger than expected rise in third-quarter profit.

Operating profit from June to August came in at 4.91 billion Swedish crowns (or about US$523 million). That’s up from the 3.51 billion seen a year ago, and well above the 3.68 billion crowns forecasted by analysts in an LSEG poll.

The numbers come as CEO Daniel Erver embarked on an overhaul of the brand to improve profitability through trendier collections, tighter cost controls and a refreshed marketing strategy.

But even as H&M celebrates its early success, the broader business environment is shifting.

US tariffs are weighing on imports to and consumption within the US – the retailer’s second largest market after Germany.

So how far would that make Asia a bright spot for growth for H&M, and how does H&M intend to compete with other big name players such as Inditex’s Zara, Fast Retailing’s Uniqlo and even e-commerce first players like Shein and Temu?

And perhaps more importantly – which Asian markets hold the greatest promise for the next chapter of H&M’s growth given China’s uneven economic recovery?

On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Saed El-Achkar, President H&M East Asia & Greater China.

See omnystudio.com/listener for privacy information.

Tokenisation – or the process of turning real-world assets into digital tokens – has moved from concept to reality in recent years.

According to DBS Research, the tokenisation of real-world assets is at an inflection point towards exponential growth, with the market capitalisation of real-world asset tokens growing from virtually nothing five years ago to over US$25 billion as of August 2025.

That figure is expected to rise further, with McKinsey estimating that the total tokenised market capitalisation could hit about US$2 trillion by the end of the decade.

Trends driving the numbers include growing institutional adoption of digital assets, as well as increased regulatory clarity globally.

Back home, the first Singapore dollar-backed stablecoin was also launched in September 2025, with reserves held with DBS Bank and Standard Chartered Bank.

But what are the growth opportunities for the tokenisation of real-world assets and what does it mean for financial institutions like DBS?

In this “On the Go” Special episode of “Under the Radar”, Money Matters’ finance presenter Chua Tian Tian headed down to DBS’ Headquarters at Marina Bay Financial Centre to find out what’s next for the industry and how the bank is capitalising on the trend from David Hui, Chief Commercial Officer, DBS Digital Exchange.

See omnystudio.com/listener for privacy information.

Marketing and communications has been an integral part of companies in shaping their brand image, selling values, advertising their products and services, which ultimately rings in the dollars and cents seen on balance sheets.

But despite the importance of the profession, modern marketing as we know it to be is a relatively new field of business that took off only in the 1900s, with the widespread consumption of radio and television content.

Our guest for today is one of the early players in the industry. Founded in 1901 in Tokyo, our guest for today is Dentsu, one of the largest global marketing and communications networks in the world.

The Tokyo-listed company boasts a presence spanning across 110 countries and regions, and is said to combine the talents of its global network of leadership brands to develop impactful and integrated growth solutions for enterprise customers.

That is particularly so through its landmark acquisition of UK-based Aegis Group for 3.2 billion British pounds back in 2012, and its purchase of US-based customer relationship management firm Merkle to expand its footprint and standing on the global stage.

In Singapore, Dentsu operates as a strategic hub for Southeast Asia, and delivers what it calls end-to-end experience transformation for brands, people and society.

Yet, Dentsu's rapid internationalisation moves come at a cost – the kinks involved in integrating acquisition targets have put a dent on financial performance.

In August 2025, the firm reported an operating loss of 62 billion yen (S$540 million) for the quarter ended June, after booking an 86 billion yen impairment loss due to sluggish performance in the US and Europe. The company also said it will cut about 3,400 jobs in markets outside of Japan, or about 8 per cent of headcount in the region to streamline operations.

And in that same month, a report by the Financial Times noted that Dentsu is considering selling its international business.

So where are things at right now, and what would the recent developments mean for Dentsu’s Southeast Asia and Singapore’s operations? What would they mean for Dentsu's global growth ambitions too?

On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Prakash Kamdar, CEO, Clients & Solutions, SEA, and CEO, Singapore, Dentsu.

See omnystudio.com/listener for privacy information.

It's all about hypercars in this “On the Go” Special episode of “Under the Radar” as Money Matters’ finance presenter Chua Tian Tian headed down to BUGATTI Singapore’s showroom at 45 Leng Kee Road.

Founded by Ettore BUGATTI in 1909, BUGATTI prides itself as a state-of-the-art hyper sports car marque, and is said to produce the world’s most powerful and luxurious cars.

Fun fact – each car is still hand-assembled at the firm’s Atelier in Molsheim.

Today, BUGATTI is part of the BUGATTI Rimac Group, and is laser focused on developing the next generation of hyper sports cars.

And the CEO and President of BUGATTI Mate Rimac is in town to mark the 20th anniversary of its iconic model, the BUGATTI Veyron.

The BUGATTI Veyron became the world’s first production car with more than 1,000 hp and a top speed of over 250mph in 2005.

Tian Tian caught up with Mate briefly during the anniversary celebration event to find out about his priorities for the business, his take on the importance of Southeast Asia and Singapore as markets for the company, as well as BUGATTI’s future lineup.

See omnystudio.com/listener for privacy information.

Founded in 1981 through the spin-off by a team of engineers from Dassault Aviation to design products in three dimensions, Dassault Systemes seeks to revolutionise the aerospace industry with Computer Aided Designs or (CADs).

The aim is to advance virtual worlds and empower innovators to come up with sustainable solutions that address the most pressing global challenges.

Fast forward to today, the French software maker’s solutions touched multiple industries from aviation, to mobility and healthcare, serving 370,000 customers with differing needs and sizes.

And here are some fun facts. The firm says 90% of cars in the world are engineered or built using its collaborative solutions.

And if you’re wondering why your pair of Adidas running shoes perform or fits better – well, Dassault Systemes could have a part to play in that.

But beyond that, the firm is also involved in the building of digital twins of products, processes and even cities to help industries test and prepare for real world challenges.

All in, the company had in July 2025 reported total revenue of 1.52 billion euros for the second quarter of 2025, up 5 per cent from the year ago period. Diluted earnings, though, stood at 0.17 euros, down 19 per cent from the year prior.

But what are the key drivers of growth for the firm and what role did Asia and Singapore play in this regard?

Meanwhile, the firm also introduced its 3D UNIV+RSES at its Capital Markets Day, a comprehensive solution that embeds multiple generative AI technologies along with 3D designs, virtual twins and more. But what should we know about the new solution, and how will the generative economy reshape the growth trajectory for firms like Dassault Systemes?

In this "On the Go" Special episode of "Under the Radar", Money Matters’ finance presenter Chua Tian Tian headed down to Tampines Grande to Dassault Systemes’ office to speak with CEO Pascal Daloz, who was in town for just about 24 hours.

See omnystudio.com/listener for privacy information.