You’ll more or less notice the signage of this company if you drive along the Tampines Expressway towards the airport - rain or shine. Here’s another hint – it is located within the Tampines Retail Park along with Giant hypermart.

If you’ve guessed COURTS, then bingo, you’ve got it right. But have you ever wondered if COURTS is a Singapore or a Malaysian furniture chain or who actually owns COURTS these days? Well, we will bring you all the answers in this interview.

With roots as a furniture retailer from the UK, COURTS started operations in Singapore half a century ago in 1974 and has since expanded to 13 stores spanning over 464,000 square feet of retail space.

The firm expanded to Malaysia in 1987 and most recently ventured into the Indonesian market in 2014.

Once known as COURTS Asia Limited, the firm was previously listed on the mainboard of the Singapore Exchange in October 2012. That was until 2019, when Yokohama-based electrical appliance retailer Nojima Corporation bought over the company’s shares.

Today, COURTS is wholly owned by Nojima Corporation, which runs over 900 stores and has a market capitalisation of S$1.8 billion on revenues of S$6.6 billion. So how has the firm changed over the years with Nojima Corporation as its parent?

Meanwhile, COURTS is also an interesting company to look at because of its efforts to refresh its offerings to target the next generation of furniture shoppers.

For one thing, the firm had in 2019 opened its first internet-of-things store at Funan to better cater to smart home shoppers. It also opened the 189,000 square feet COURTS Nojima in 2022 to provide an experiential retail space for shoppers.

But how far has the firm’s moves captured the hearts of younger consumers and what are the key drivers of growth in the furniture industry as brick and mortar chains compete against online retailers?

On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Harry Higashiura, Group Chief Commercial Officer, Nojima APAC and Country CEO of Singapore and Malaysia, COURTS.

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From making 186 deliveries on day one to about 17 million today.

That’s a reflection of the growth of logistics giant FedEx through the years since it was first founded half a century ago in 1971.

At that point in time, FedEx was known as the Federal Express Corporation, with the word “federal” suggesting an interest in nationwide economic activity in the US.

Fun fact – it was meant to resonate with the US Federal Reserve Bank, which is a potential customer for the logistics player.

You might have recalled us talking to FedEx over a year ago on the show, and today we’re going to get an update as to how things are going for them right now.

Financially, the firm had in December 2024 reported second quarter earnings per share of US$4.05 in line with expectations. Revenue though, came in at US$22 billion for the quarter, slightly lower than the US$22.17 billion expected.

The firm’s CEO Raj Subramaniam said the results come despite several headwinds, including continued weak US domestic demand and the expiration of its US Postal Service contract. He said the showing demonstrates that the firm’s efforts to transform its operations have been working. But what were the key drivers of growth bolstering the numbers, and how far did Asia Pacific contribute to the firm’s top line numbers?

Speaking of Asia Pacific, the firm also said in 2024 that it will consolidate some Asia-Pacific, Middle East and Africa functions in Singapore to connect all of its operations in the region with greater speed and agility. But what should we know about the move?

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Kawal Preet, President, Asia Pacific at FedEx.

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Today we’re going to bring you an inside look into an Italian pharmaceutical firm with over 135 years of history.

Founded in 1886 in Naples under the name of Farmacia Internazionale, our guest for today is from Menarini Group, a leading pharmaceutical and diagnostics company with a presence in over 140 countries.

The firm prides itself as a leading provider of important healthcare brands, with its 18 manufacturing plants producing over 609 million packets of products a year.

To this end, Menarini said it operates across the entire commercial value chain, from clinical development, regulatory approval and product launch to lifecycle management with a diverse portfolio of proprietary and partnered brands in key therapeutic fields.

That includes Consumer Health, Dermatology, Allergy or Respiratory, Gastroenterology, Cardio-metabolic, Anti-infectives, Oncology or Specialty Care and more.

All in, Menarini reported consolidated turnover of 4.375 billion euros in 2023, with international markets contributing 79% to the numbers. But how much of this is contributed by demand from the Asia-Pacific region?

Meanwhile, Menarini is also seeing a number of interesting developments of late. For one thing, Menarini APAC had in June 2024 expanded its partnership with Pharmacosmos to tackle iron deficiency in patients in Singapore and Malaysia.

So just how important are such licensing deals and partnerships in helping Menarini broaden its offerings while lowering R&D costs?

On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Glen Godresse, CEO, Menarini APAC.

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Cleaning barnacles and algae off the hulls of some of the world’s largest liners – that’s the work of our guest for today.

Founded in 2018, Neptune Robotics is a pioneer in AI-powered robotics and uses robots to reduce biofouling or an accumulation of microorganisms, algae, plants and animals on ship hulls.

For context, removing biofouling and hull cleaning is important for the maritime industry because it helps ships reduce drag and consequently fuel consumption. It could also result in the transfer of invasive aquatic species to different parts of the world as the vessel travels.

The process can be done by traditional divers. But in the case of Neptune Robotics, the firm is able to use its proprietary robots called Magneto to do so.

The firm is also said to have raised the industry standard by countering currents of 1 knot to 4 knots to allow for 24-hour cleaning a day in anchorages, instead of the 4 hours a day of traditional cleaning by divers.

Neptune Robotics started commercial operations in 2020 and has seen its cleaning services expanded to 60 ports in Asia and endorsed by some of the world’s largest liners, shipowners and operators.

The firm has also reportedly received US$17.25 million in series A investments in 2022 and is currently backed by Sequoia China, the venture capital giant behind Apple, Whatsapp and Shein.

Why are we speaking to Neptune Robotics you might ask? Well, the firm had in November 2024 expanded to Singapore, bringing its service coverage to over 55 per cent of the international merchant vessels’ stops. The expansion in Singapore would allow the firm to support shipowners and operators along China-Singapore shipping routes.

But really how important is Singapore as a market for the firm? Also – what are the longer term opportunities for the firm as the maritime industry seeks to address the issue of biofouling to push ahead on their decarbonisation agenda?

On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Elizabeth Chan, Co-founder & CEO of Neptune Robotics.

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Converting complex data landscapes into actionable insights that can drive strategic business outcomes.

That’s the work of our guest for today, Qlik.

Founded in 1993, Qlik is a software company that focuses on data integration, analytics and artificial intelligence, providing enterprise grade artificial intelligence and machine learning powered solutions that work with diverse data sources.

The firm serves over 40,000 global customers including some of the brands that we interact with on a day-to-day basis.

Take for instance, Dominos Pizza. In this scenario, Qlik built a comprehensive data tracker to streamline Dominos Pizza’s 85,000 data sources into a single view of its customers and global operations.

Another example would be how Qlik worked with Urban Outfitters to reduce the time taken to complete store level reporting from hours to minutes. But who does Qlik work with right here in Asia? What should we know about its business and the opportunities present in the region?

Meanwhile, Qlik is also an interesting company to look at right now because it is expanding through both organic and inorganic means.

It had in November 2024 announced the launch of a new cloud region in Mumbai to enhance its global cloud infrastructure and meet growing demand for local data storage and advanced AI capabilities. But what are the opportunities in India and how far would a deeper presence in India benefit regional ASEAN markets?

The firm had also in May 2023 acquired data management vendor Talend, but how has it integrated the firm into its business, and how has the acquisition benefitted Qlik more than one year down the road?

On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Chong Yang Chan, Managing Director, ASEAN & Greater China Region, Qlik.

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It’s a deep dive into the private equity landscape as we speak to an investment firm that’s indirectly owned by Temasek Holdings.

Set up in 2015, our guest Azalea Investment Management defines itself as being in the business of PE investments, with a focus on the development and innovation of new investment platforms and products.

The firm said its goal is to bring private assets to a wider investor base through a phased approach, while educating the investing public at the same time.

Azalea Investment Management achieves this through two investment programmes or platforms, (1) the Altrium programme as well as the (2) Astrea Platform.

Under the Altrium programme, accredited investors can co-invest with Azalea and access strong performing private equity fund managers globally, but with lower barriers to entry.

The Astrea Platform, on the other hand, is a series of investment products developed based on diversified portfolios of PE funds. The platform is said to target long-term minded investors including Singapore retail investors looking to co-invest in private equity with the asset managers.

But why are we speaking to Azalea Investment Management you might ask? Well the firm had closed a number of funds of late. In July 2024, the firm’s Astrea 8 PE bonds closed 2.8 times subscribed at over S$1 billion, with bonds distributed to diversified investors across institutions such as endowments, pensions and insurance companies as well as accredited investors.

More recently, it had in October closed two funds at over US$480 million as a whole, higher than the US$400 million target for both funds combined.

But how does the firm assess the outlook for private markets in 2025 and what is next for its product line up?

On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Chue En Yaw, Chief Investment Officer, Azalea Investment Management.

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We’re going to start the year by looking at a global consultancy firm that helps the world’s most ambitious change makers define the future.

Founded in 1973, our guest Bain & Company works with clients from across 65 cities to solve industry-defining challenges in strategy, marketing, organisation, operations, digital transformation, corporate finance and even more.

The firm said it serves over 64 per cent of the Global 500, private equity funds representing 75 per cent of global equity capital, as well as leading nonprofits and startups.

It prides itself on working with an insurgent mindset, delivering integrated solutions and providing a uniquely collaborative culture. But how does the firm break down such flowery phrases into standardised service offerings that can be replicated for different clients?

At the same time, Bain & Company also boasts an interdisciplinary capability called Future Sensing, which helps interpret signals within a host of emerging trends to provide insights for firms to navigate turbulence, maximise opportunities and reduce risks.

It also identified key priorities for CEOs to monitor in today’s volatile and uncertain environment. Some of these priorities include (1) Understanding the power and peril of artificial intelligence, (2) Rehumanising work, and (3) Waving goodbye to the invisible hand.

But how is Bain & Company helping its clients manage these priorities and how much money is in it for the consulting giant to double down on its work in these areas? Meanwhile, Bain & Company also appeared to be big on generative AI, having found that the market for AI products and services could reach up to US$990 billion by 2027.

It had in October announced an expanded partnership with OpenAI to accelerate transformative impact in the world’s top companies. But what should we know about the partnership, and how will generative AI augment the role played by traditional consulting firms?

On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Edmund Lin, Chairman of Southeast Asia, Bain & Company.

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What comes to mind when you hear Top Gun and Tom Cruise? What about aviator shades and Ray-Ban?

Whether you’re flying, driving or even walking to your next meeting, we aim to entice you to put on your sunny shades as you turn into this conversation as we speak to the parent company of Ray-Ban, EssilorLuxottica.

Speaking of EssilorLuxottica, the company was formed in 2018 by the combination of Italian frame manufacturer and luxury eyewear specialist Luxottica, as well as French optical lens producer Essilor in a deal worth 46 billion euros.

Fast forward to the present, EssilorLuxottica prides itself as a global leader in design, manufacture and distribution of lenses, frames and sunglasses, with over two centuries of experience behind the company. Its eyewear brands include Ray-Ban, Oakley, Costa, Vogue Eyewear and more.

EssilorLuxottica is an interesting company to look at for a number of reasons. Perhaps the most important reason is its long term partnership with Meta to develop smart eyewear technologies.

To this end, EssilorLuxottica had in April 2024 launched its second generation smart glasses with Meta, where users can engage in video calls with WhatApp and Messenger to share their views with others in real time. EssilorLuxottica also confirmed Meta’s interest to buy a stake in the company in July. But what are the opportunities when it comes down to wearable technology?

Meanwhile, EssilorLuxottica agreed to purchase Supreme for US$1.5 billion to move into the streetwear segment. It also bought a 5 per cent stake in camera maker Nikon Corporation – but where do these developments fit in the bigger picture for the eyewear maker?

On Under the Radar, Money Matters’ finance presenter Chua Tian Tian posed these questions to Alessio Smiderle, Chief Financial Officer (CFO), APAC & Greater China, EssilorLuxottica.

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