Higher interest rates and the reduced availability of debt is weighing on the whole Reit sector. Should investors look for winners among the biggest losers in the sector? Or, among the ones that have sustained their performance? BT’s Ben Paul and Raphael Lim offer some answers. Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Highlights of the podcast: 01:45 Higher debt costs driving the whole sector 04:46 Should Kore have halted its distributions? 14:46 Sponsor failures fuelling internalisation push 19:41 One Reit that grew despite tough backdrop --- Now, we want to hear from you! Send us your questions, thoughts, story ideas, and feedback to btpodcasts@sph.com.sg. We’ll look into it for future episodes. --- Written and hosted by: Ben Paul (benpaul@sph.com.sg) With Raphael Lim, correspondent, The Business Times Edited by: Emily Liu & Lee Kim Siang Produced by: Ben Paul & Emily Liu Engineered by: Joann Chai Pei Chieh A podcast by BT Podcasts, The Business Times, SPH Media Follow BT Mark To Market: Channel: bt.sg/btmark2mkt Amazon: bt.sg/m2mam Apple Podcasts: bt.sg/4DJp Spotify: bt.sg/4DJN Google Podcasts: bt.sg/4D2E Website: bt.sg/mark2mkt Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: bt.sg/btmoneyhacks WealthBT: bt.sg/btwealthbt PropertyBT: bt.sg/btpropertybt BT Podcasts: bt.sg/pcOM BT Market Focus: bt.sg/btmktfocus BT Branded Podcasts: bt.sg/brpod BT Lens On: bt.sg/btlenson See omnystudio.com/listener for privacy information.

A group of minority shareholders at Great Eastern have put through three resolutions to address their assessment of Great Eastern's shares. Their attempt to table these resolutions at the upcoming AGM has been rejected. What is next? BT's Ben Paul sits down with independent investor Ong Chin Woo to discuss his concerns and breakdown the resolutions proposed. Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Highlights of the podcast: 01:21 Great Eastern’s board, minorities square off 04:42 Resolutions to align interests, unlock value 11:28 Shareholders of OCBC may stand to benefit 19:48 Minorities must be reasonable, willing to fight Written and hosted by: Ben Paul (benpaul@sph.com.sg) With Ong Chin Woo, independent investor Edited by: Emily Liu & Claressa Monteiro Produced by: Ben Paul & Emily Liu Engineered by: Joann Chai Pei Chieh A podcast by BT Podcasts, The Business Times, SPH Media Follow BT Mark To Market: Channel: bt.sg/btmark2mkt Apple Podcasts: bt.sg/4DJp Spotify: bt.sg/4DJN Google Podcasts: bt.sg/4D2E Website: bt.sg/mark2mkt Feedback to: btpodcasts@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: bt.sg/btmoneyhacks WealthBT: bt.sg/btwealthbt PropertyBT: bt.sg/btpropertybt BT Podcasts: bt.sg/pcOM BT Market Focus: bt.sg/btmktfocus BT Branded Podcasts: bt.sg/brpod BT Lens On: bt.sg/btlenson See omnystudio.com/listener for privacy information.

Cordlife Group is in big trouble. Last November, the Ministry of Health suspended the company’s operations after it found significant issues with its cord blood storage system. How did things get so bad? Can the company really come back from this crisis? Ben Paul sits down with reporter Megan Cheah to break it all down. Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Highlights of the podcast: 01:55 Board failed investors and customers 06:05 More problems may come to light 08:41 Stock may have bottomed for now 14:52 Time to weigh options to unlock value Written and hosted by: Ben Paul (benpaul@sph.com.sg) With Megan Cheah, journalist, The Business Times Edited by: Emily Liu & Claressa Monteiro Produced by: Ben Paul & Emily Liu Engineered by: Joann Chai Pei Chieh A podcast by BT Podcasts, The Business Times, SPH Media Follow BT Mark To Market: Channel: bt.sg/btmark2mkt Apple Podcasts: bt.sg/4DJp Spotify: bt.sg/4DJN Google Podcasts: bt.sg/4D2E Website: bt.sg/mark2mkt Feedback to: btpodcasts@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: bt.sg/btmoneyhacks WealthBT: bt.sg/btwealthbt PropertyBT: bt.sg/btpropertybt BT Podcasts: bt.sg/pcOM BT Market Focus: bt.sg/btmktfocus BT Branded Podcasts: bt.sg/brpod BT Lens On: bt.sg/btlenson See omnystudio.com/listener for privacy information.

How can Singapore’s Reits and property trusts adjust to the “new normal” of higher interest rates and slower growth? Especially since the outlook for economic growth - after all the monetary policy tightening that took place over the last two years - is rather uncertain. Ben Paul has some suggestions. Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Highlights of the podcast: 02:28 Reits seeing a reversal of fortunes 04:40 Slower growth, higher interest rates 07:57 Pressure on real estate valuations 12:50 Time to cut debt, reposition portfolios Written and hosted by: Ben Paul (benpaul@sph.com.sg) Edited by: Howie Lim & Claressa Monteiro Produced by: Ben Paul & Howie Lim Engineered by: Joann Chai Pei Chieh A podcast by BT Podcasts, The Business Times, SPH Media Follow BT Mark To Market: Channel: bt.sg/btmark2mkt Apple Podcasts: bt.sg/4DJp Spotify: bt.sg/4DJN Google Podcasts: bt.sg/4D2E Website: bt.sg/mark2mkt Feedback to: btpodcasts@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: bt.sg/btmoneyhacks WealthBT: bt.sg/btwealthbt PropertyBT: bt.sg/btpropertybt BT Podcasts: bt.sg/pcOM BT Market Focus: bt.sg/btmktfocus BT Branded Podcasts: bt.sg/brpod BT Lens On: bt.sg/btlenson See omnystudio.com/listener for privacy information.

Minority investor fury at Manulife US Reit, Sabana Reit and Dasin Retail Trust has turned the spotlight on the effectiveness of the statutory protections under the external-manager model adopted by most Singapore Reits and business trusts. But switching to an internal-manager model is not a simple matter. Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Highlights of the podcast: 02:06 Perilous outlook for Reits, property trusts in 2024 04:32 Manulife US Reit sponsor less than generous 10:32 Sabana, Dasin unitholders want internal managers 13:09 Manager-internalisation pathway will boost market 16:30 Should investors bet on Manulife US Reit’s recovery? Written and hosted by: Ben Paul (benpaul@sph.com.sg) Edited by: Howie Lim & Claressa Monteiro Produced by: Ben Paul & Howie Lim Engineered by: Joann Chai Pei Chieh A podcast BT Podcasts, The Business Times, SPH Media Follow BT Mark To Market: Channel: bt.sg/btmark2mkt Apple Podcasts: bt.sg/4DJp Spotify: bt.sg/4DJN Google Podcasts: bt.sg/4D2E Website: bt.sg/mark2mkt Feedback to: btpodcasts@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: bt.sg/btmoneyhacks WealthBT: bt.sg/btwealthbt PropertyBT: bt.sg/btpropertybt BT Podcasts: bt.sg/pcOM BT Market Focus: bt.sg/btmktfocus BT Branded Podcasts: bt.sg/brpod BT Lens On: bt.sg/btlenson See omnystudio.com/listener for privacy information.

The Singapore market’s poor performance and lack of exciting new listings are multifaceted problems that require simultaneous action on different fronts. Senior correspondent Ben Paul gets to grips with issues, and offers some possible solutions. Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Highlights of the podcast: 03:50 Private capital and the Magnificent Seven 08:19 Diverse views on what’s dogging the market 12:26 Governance, performance are interconnected 15:30 Timing, pricing of IPOs should be calibrated Written and hosted by: Ben Paul (benpaul@sph.com.sg) Edited by: Claressa Monteiro and Howie Lim Produced and edited by: Howie Lim Recording engineer: Joann Chai Pei Chieh Produced by: BT Podcasts, The Business Times, SPH Media Follow BT Mark To Market podcasts and rate us at: Channel: bt.sg/btmark2mkt Apple Podcasts: bt.sg/4DJp Spotify: bt.sg/4DJN Google Podcasts: bt.sg/4D2E Website: bt.sg/mark2mkt Feedback to: btpodcasts@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: bt.sg/btmoneyhacks WealthBT: bt.sg/btwealthbt PropertyBT: bt.sg/btpropertybt BT Podcasts: bt.sg/pcOM BT Market Focus: bt.sg/btmktfocus BT Branded Podcasts: bt.sg/brpod BT Lens On: bt.sg/btlenson See omnystudio.com/listener for privacy information.

Rising oil prices and stubbornly resilient economic activity may prompt the Fed and other central banks to keep monetary policy tighter for longer than expected. This could be bad news for US tech stocks, Singapore real estate investment trusts and regional economies with weak current accounts. Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Highlights of the podcast: 02:03 Waning inflation sparked big rally last year 04:25 Oil prices, resilient growth reignite fears 09:47 Ebb and flow of tech, energy stocks 13:12 Regional currencies vulnerable to oil surge Written and hosted by: Ben Paul (benpaul@sph.com.sg) Edited by: Claressa Monteiro Produced and edited by: Janice Tan Recording engineer: Joann Chai Pei Chieh Produced by: BT Podcasts, The Business Times, SPH Media Follow BT Mark To Market podcasts and rate us at: Channel: bt.sg/btmark2mkt Apple Podcasts: bt.sg/4DJp Spotify: bt.sg/4DJN Google Podcasts: bt.sg/4D2E Website: bt.sg/mark2mkt Feedback to: btpodcasts@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: bt.sg/btmoneyhacks WealthBT: bt.sg/btwealthbt PropertyBT: bt.sg/btpropertybt BT Podcasts: bt.sg/pcOM BT Market Focus: bt.sg/btmktfocus BT Branded Podcasts: bt.sg/brpod BT Lens On: bt.sg/btlenson See omnystudio.com/listener for privacy information.

Hotel Properties Limited has been buffeted recently by news of the redevelopment of its Orchard Road assets, and a corruption investigation involving its major shareholder and managing director Ong Beng Seng. What does it all mean for its shares? Senior correspondent Ben Paul explores. Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Highlights of the podcast: 01:31 Hit by corruption probe, redevelopment news 05:10 Hotels, resorts riding post-pandemic recovery 07:27 Ong Beng Seng owns slice of some properties 10:04 Risk of lowball privatisation Written and hosted by: Ben Paul (benpaul@sph.com.sg) Edited by: Claressa Monteiro Produced and edited by: Janice Tan Recording engineer: Joann Chai Pei Chieh Produced by: BT Podcasts, The Business Times, SPH Media Follow BT Mark To Market podcasts and rate us at: Channel: bt.sg/btmark2mkt Apple Podcasts: bt.sg/4DJp Spotify: bt.sg/4DJN Google Podcasts: bt.sg/4D2E Website: bt.sg/mark2mkt Feedback to: btpodcasts@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: bt.sg/btmoneyhacks WealthBT: bt.sg/btwealthbt PropertyBT: bt.sg/btpropertybt BT Podcasts: bt.sg/pcOM BT Market Focus: bt.sg/btmktfocus BT Branded Podcasts: bt.sg/brpod BT Lens On: bt.sg/btlenson See omnystudio.com/listener for privacy information.

Disgruntled minority unitholders have voted for Sabana Reit to embark on an unprecedented internalisation of its management function. Should investors jump in, or run for cover? What does it mean for other Singapore-listed Reits? Senior correspondent Ben Paul explains. Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Highlights of the podcast: 01:24 Seizing power from Sabana Reit’s sponsor 03:07 Internalisation debate fierce and partisan 08:42 Waning investor faith in independence 12:48 Lender’s “review event” a poison pill? 14:03 Much now depends on stakeholders’ behaviour Written and hosted by: Ben Paul (benpaul@sph.com.sg) Edited by: Claressa Monteiro Produced and edited by: Janice Tan Recording engineer: Joann Chai Pei Chieh Produced by: BT Podcasts, The Business Times, SPH Media Follow BT Mark To Market podcasts and rate us at: Channel: bt.sg/btmark2mkt Apple Podcasts: bt.sg/4DJp Spotify: bt.sg/4DJN Google Podcasts: bt.sg/4D2E Website: bt.sg/mark2mkt Feedback to: btpodcasts@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: bt.sg/btmoneyhacks WealthBT: bt.sg/btwealthbt PropertyBT: bt.sg/btpropertybt BT Podcasts: bt.sg/pcOM BT Market Focus: bt.sg/btmktfocus BT Branded Podcasts: bt.sg/brpod BT Lens On: bt.sg/btlenson See omnystudio.com/listener for privacy information.

OCBC’s recent purchase of more Great Eastern shares has further narrowed the insurer’s public spread and increased the risk of it eventually being suspended from trading. But Great Eastern undervalued shares still hold great potential. Senior correspondent Ben Paul explains. Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Highlights of the podcast: 05:28 Embedded value soars but shares languish 08:38 Little protection for minority shareholders 11:59 AGM comments on compensation and share price 16:06 Hiking Great Eastern's dividend payouts? Written and hosted by: Ben Paul (benpaul@sph.com.sg) Edited by: Howie Lim & Claressa Monteiro Produced and edited by: Janice Tan Recording engineer: Joann Chai Pei Chieh Produced by: BT Podcasts, The Business Times, SPH Media Follow BT Mark To Market podcasts and rate us at: Channel: http://bt.sg/btmark2mkt Apple Podcasts: https://bt.sg/4DJp Spotify: https://bt.sg/4DJN Google Podcasts: http://bt.sg/4D2E Website: http://bt.sg/mark2mkt Feedback to: btpodcasts@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: http://bt.sg/btmoneyhacks WealthBT: https://bt.sg/btwealthbt PropertyBT: https://bt.sg/btpropertybt BT Podcasts: http://bt.sg/pcOM BT Market Focus: http://bt.sg/btmktfocus BT Branded Podcasts: http://bt.sg/brpod See omnystudio.com/listener for privacy information.

Manulife US Reit is trading at a historical yield of 28 per cent and an appalling 70 per cent discount to its book value. Is it a bargain for investors? Or, is it a value trap? What will it take to resurrect this owner of US office properties? Senior correspondent Ben Paul explains. Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Highlights: 02:31 Recent developments at the Reit could be positive for investors 07:40 Manulife should emulate example of CapitaLand, Mapletree 12:27 Sale of Manulife US Reit can be structured to benefit investors 14:17 Why Manulife US Reit could be a bargain for long term investors Written and hosted by: Ben Paul (benpaul@sph.com.sg) Edited by: Howie Lim & Claressa Monteiro Recording engineer: Joann Chai Pei Chieh Produced by: BT Podcasts, The Business Times, SPH Media Follow BT Mark To Market podcasts and rate us at: Channel: http://bt.sg/btmark2mkt Apple Podcasts: https://bt.sg/4DJp Spotify: https://bt.sg/4DJN Google Podcasts: http://bt.sg/4D2E Website: http://bt.sg/mark2mkt Feedback to: podcast@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: http://bt.sg/btmoneyhacks WealthBT: https://bt.sg/btwealthbt PropertyBT: https://bt.sg/btpropertybt BT Podcasts: http://bt.sg/pcOM BT Market Focus: http://bt.sg/btmktfocus BT Branded Podcasts: http://bt.sg/brpod See omnystudio.com/listener for privacy information.

The next few months could be a risky time. Investors should tread very carefully, and be prepared to take advantage of a big sell-off. The Fed is pausing its rate hiking cycle even though inflation is still elevated. Meanwhile, Singapore is battling to keep a lid on runaway residential property prices. Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Highlights: 01:34 Fed pauses, but financial conditions may continue tightening 02:44 Singapore tries to restrict runaway residential property prices 05:13 Tough policy action meets stubborn pushback from market 07:53 Self-serving narratives from financial market, property sectors 10:44 Bargains to be had in the wake of big, disorderly sell-offs Written and hosted by: Ben Paul (benpaul@sph.com.sg) Edited by: Howie Lim & Claressa Monteiro Recording engineer: Joann Chai Pei Chieh Produced by: BT Podcasts, The Business Times, SPH Media Follow BT Mark To Market podcasts and rate us at: Channel: http://bt.sg/btmark2mkt Apple Podcasts: https://bt.sg/4DJp Spotify: https://bt.sg/4DJN Google Podcasts: http://bt.sg/4D2E Website: http://bt.sg/mark2mkt Feedback to: podcast@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: http://bt.sg/btmoneyhacks WealthBT: https://bt.sg/btwealthbt PropertyBT: https://bt.sg/btpropertybt BT Podcasts: http://bt.sg/pcOM BT Market Focus: http://bt.sg/btmktfocus BT Branded Podcasts: http://bt.sg/brpod See omnystudio.com/listener for privacy information.

Synopsis: Listen to senior correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Keep your FOMO in check! The recent bank failures in the West were not just about poor management but also a manifestation of tighter monetary policy working its way through the financial system. Yet, the Fed does not appear ready to cut rates immediately. Chasing the market at this point could be a bad idea. Highlights: 01:36 Waiting for the next shoe to drop 06:13 S&P500, STI have shrugged off the bad news 09:32 Parsing Fed’s latest comments, rate projections 11:38 Weaker REITs may succumb to financial stress Written and hosted by: Ben Paul (benpaul@sph.com.sg) Produced by: Howie Lim & Claressa Monteiro Engineered by: Howie Lim Follow BT Mark To Market podcasts and rate us at: Channel: http://bt.sg/btmark2mkt Apple Podcasts: https://bt.sg/4DJp Spotify: https://bt.sg/4DJN Google Podcasts: http://bt.sg/4D2E Website: http://bt.sg/mark2mkt Feedback to: podcast@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: http://bt.sg/btmoneyhacks WealthBT: https://bt.sg/btwealthbt PropertyBT: https://bt.sg/btpropertybt BT Podcasts: http://bt.sg/pcOM BT Market Focus: http://bt.sg/btmktfocus BT Branded Podcasts: http://bt.sg/brpod See omnystudio.com/listener for privacy information.

Synopsis: Listen to Senior Correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. The proposed break-up and delisting of Golden Energy and Resources and the general offer for Boustead Projects do not adequately compensate minority investors. These deals are also testing the rules and conventions around de-listings in the Singapore market. Ben Paul has insights. Highlights: 02:13 Golden Energy already trading above all-cash consideration 05:18 Revised offer for Boustead Projects way below NAV, RNAV 09:28 SGX tightened up its rules on de-listings in 2019 11:30 Investor complaint draws regulatory scrutiny of IFA role 14:53 SGX’s position on general offers, de-listings could be tested Produced by: Ben Paul (benpaul@sph.com.sg), Howie Lim and Claressa Monteiro Edited by: Howie Lim Follow BT Mark To Market podcasts and rate us at: Channel: http://bt.sg/btmark2mkt Apple Podcasts: https://bt.sg/4DJp Spotify: https://bt.sg/4DJN Google Podcasts: http://bt.sg/4D2E Website: http://bt.sg/mark2mkt Feedback to: podcast@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: http://bt.sg/btmoneyhacks WealthBT: https://bt.sg/btwealthbt PropertyBT: https://bt.sg/btpropertybt BT Podcasts: http://bt.sg/pcOM BT Market Focus: http://bt.sg/btmktfocus BT Branded Podcasts: http://bt.sg/brpod See omnystudio.com/listener for privacy information.

Synopsis: Listen to Senior Correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Share buybacks are a means of returning cash to investors. But they discriminate between existing shareholders and continuing shareholders. Ben Paul explains why investors should carefully consider if these exercises are in their best interest, and press corporate boards to raise their game. Highlights: 02:10 A signal business is thriving, and stock prices are too low 05:37 Why companies often pursue buybacks at the wrong time 07:53 Companies repurchase their shares too opportunistically 10:46 Warren Buffett’s approach to buybacks should be emulated 13:39 Investors can vote against share purchase mandates at AGMs Produced by: Ben Paul (benpaul@sph.com.sg), Howie Lim and Claressa Monteiro Edited by: Howie Lim Follow BT Mark To Market podcasts and rate us at: Channel: http://bt.sg/btmark2mkt Apple Podcasts: https://bt.sg/4DJp Spotify: https://bt.sg/4DJN Google Podcasts: http://bt.sg/4D2E Website: http://bt.sg/mark2mkt Feedback to: podcast@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: http://bt.sg/btmoneyhacks WealthBT: https://bt.sg/btwealthbt PropertyBT: https://bt.sg/btpropertybt BT Podcasts: http://bt.sg/pcOM BT Market Focus: http://bt.sg/btmktfocus BT Branded Podcasts: http://bt.sg/brpod See omnystudio.com/listener for privacy information.

Synopsis: Listen to Senior Correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. 2022 was marked by the relentless tightening of monetary policy by major central banks to address the surge in inflation around the world. What about 2023? Ben Paul finds out. Highlights: 03:00 Cumulative impact of higher interest rates to be felt in 2023 09:43 Tech companies coping with “recession” after over-investment 12:14 Hunt for tech companies still capable of disrupting status quo 15:48 Singapore market outperformed in 2022, faces risks in 2023 Produced by: Ben Paul (benpaul@sph.com.sg) and Howie Lim Edited by: Howie Lim Follow BT Mark To Market podcasts and rate us at: Channel: http://bt.sg/btmark2mkt Apple Podcasts: https://bt.sg/4DJp Spotify: https://bt.sg/4DJN Google Podcasts: http://bt.sg/4D2E Website: http://bt.sg/mark2mkt Feedback to: podcast@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: http://bt.sg/btmoneyhacks WealthBT: https://bt.sg/btwealthbt PropertyBT: https://bt.sg/btpropertybt BT Podcasts: http://bt.sg/pcOM BT Market Focus: http://bt.sg/btmktfocus BT Branded Podcasts: http://bt.sg/brpod See omnystudio.com/listener for privacy information.

Synopsis: Listen to Senior Correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Singapore Airlines is enjoying a banner FY2023 as international borders reopen and travellers pay up for flights. But losses in India, competition and the need to eventually redeem the rest of its MCBs could weigh on investor sentiment next year. Highlights: (click/tap above) 03:31 Massive upswing in profitability as travellers pay up for flights 06:21 Resuming dividend payouts, redeeming first tranche of MCBs 09:19 Why airlines have poor long-term investment fundamentals 13:31 Air India-Vistara deal unlikely to immediately excite investors Produced by: Ben Paul (benpaul@sph.com.sg), Howie Lim and Claressa Monteiro Edited by: Howie Lim Follow BT Mark To Market podcasts and rate us at: Channel: http://bt.sg/btmark2mkt Apple Podcasts: https://bt.sg/4DJp Spotify: https://bt.sg/4DJN Google Podcasts: http://bt.sg/4D2E Website: http://bt.sg/mark2mkt Feedback to: podcast@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: http://bt.sg/btmoneyhacks WealthBT: https://bt.sg/btwealthbt PropertyBT: https://bt.sg/btpropertybt BT Podcasts: http://bt.sg/pcOM BT Market Focus: http://bt.sg/btmktfocus BT Branded Podcasts: http://bt.sg/brpod See omnystudio.com/listener for privacy information.

Synopsis: Listen to Senior Correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Are there stock bargains and returns to be found in the dating scene? Can Match Group and its broad portfolio of dating app brands make a comeback? Senior correspondent Ben Paul finds out. Highlights: (click/tap above) 02:21 How the Internet changed the hunt for romantic partners 06:21 Match Group has a broad portfolio of dating app brands 09:46 Stock down sharply on Fed hikes, slower revenue growth 12:25 New CEO setting company on a stronger growth trajectory Produced by: Ben Paul (benpaul@sph.com.sg), and Howie Lim Edited by: Howie Lim Follow BT Mark To Market podcasts and rate us at: Channel: http://bt.sg/btmark2mkt Apple Podcasts: https://bt.sg/4DJp Spotify: https://bt.sg/4DJN Google Podcasts: http://bt.sg/4D2E Website: http://bt.sg/mark2mkt Feedback to: podcast@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: http://bt.sg/btmoneyhacks WealthBT: https://bt.sg/btwealthbt PropertyBT: https://bt.sg/btpropertybt BT Podcasts: http://bt.sg/pcOM BT Market Focus: http://bt.sg/btmktfocus See omnystudio.com/listener for privacy information.

Synopsis: Listen to Senior Correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. Why has the market reacted so negatively to SATS’s proposed acquisition of Worldwide Flight Services and what could the company have done differently? Ben Paul finds out. Highlights: (click/tap above) 02:43 SATS struggling to address anticipation of a big rights issue 07:16 Acquisition would enlarge SATS, and make it more resilient 09:27 Market clearly doubts the assertions about EPS accretion 12:21 Investors unlikely to return until there is more clarity on deal Produced by: Ben Paul (benpaul@sph.com.sg), Howie Lim and Claressa Monteiro Edited by: Howie Lim Follow BT Mark To Market podcasts and rate us at: Channel: http://bt.sg/btmark2mkt Apple Podcasts: https://bt.sg/4DJp Spotify: https://bt.sg/4DJN Google Podcasts: http://bt.sg/4D2E Website: http://bt.sg/mark2mkt Feedback to: podcast@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: http://bt.sg/btmoneyhacks WealthBT: https://bt.sg/btwealthbt PropertyBT: https://bt.sg/btpropertybt BT Podcasts: http://bt.sg/pcOM BT Market Focus: http://bt.sg/btmktfocus See omnystudio.com/listener for privacy information.

Synopsis: Listen to Senior Correspondent Ben Paul's analysis and insight on market trends and corporate issues in Singapore in this podcast series based on his weekly column in The Business Times. What might have motivated minority holders of FHT’s stapled securities to vote against the proposed privatisation of Frasers Hospitality Trust and now what? Ben Paul finds out. Highlights: (click/tap above) 02:34 Privatisation was proposed to address poor performance 07:28 Why minority investors might have voted against the deal 09:33 FHT appears to be suffering from flaws in its overall strategy 11:49 Broad reconstitution of FHT’s portfolio could be necessary Produced by: Ben Paul (benpaul@sph.com.sg), Howie Lim and Claressa Monteiro Edited by: Howie Lim and Claressa Monteiro Follow BT Mark To Market podcasts and rate us at: Channel: http://bt.sg/btmark2mkt Apple Podcasts: https://bt.sg/4DJp Spotify: https://bt.sg/4DJN Google Podcasts: http://bt.sg/4D2E Website: http://bt.sg/mark2mkt Feedback to: podcast@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. --- Discover more BT podcast series: BT Money Hacks: http://bt.sg/btmoneyhacks WealthBT: https://bt.sg/btwealthbt PropertyBT: https://bt.sg/btpropertybt BT Podcasts: http://bt.sg/pcOM BT Market Focus: http://bt.sg/btmktfocus See omnystudio.com/listener for privacy information.