SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

Jardine Cycle & Carriage / Equity Bottom-Up

<ul><li>Singapore’s five most traded consumer cyclical stocks include Genting Singapore, Jardine Cycle & Carriage, NIO Inc, The Hour Glass and MM2 Asia.</li><li>These five consumer cyclical stocks have seen S$279 million in combined YTD net fund flow, with Jardine Cycle & Carriage seeing the highest inflow.</li><li>Globally, the market value of consumer cyclical stocks is greater than consumer non-cyclical stocks, while also maintaining higher historical volatility.</li></ul>

Singapore’s five most traded consumer cyclical stocks include Genting Singapore, Jardine Cycle & Carriage, NIO Inc, The Hour Glass and MM2 Asia.These five consumer cyclical stocks have seen S$279 million in combined YTD net fund flow, with Jardine Cycle & Carriage seeing the highest inflow.Globally, the market value of consumer cyclical stocks is greater than consumer non-cyclical stocks, while also maintaining higher historical volatility.

10 Consumer Plays that Averaged 11% YTD Gains on S$377M Net Fund Inflows

<figure class="editor-figure mceNonEditable"><img src="https://api2.sgx.com/sites/default/files/2022-01/mm2-Chairman.jpg" class="editor-image img-responsive"></figure>
<div class="content-caption">mm2 - Chairman</div>

Media and entertainment industry veteran Melvin Ang is no stranger to courage and tenacity, values which form the backbone of his distinctive never-say-die attitude.&nbsp; These are attributes that stood Ang in good stead through the founding, development and expansion of SGX-listed entertainment group mm2 Asia Ltd - a growth journey that spanned 12 years.&nbsp; “Grit and resilience are values that are important to me, and also particularly relevant in the current climate,” said Ang, Founder and Executive Chairman of mm2 Asia. “The definition of success can vary, but success cannot be achieved without grit and resilience. It’s about knowing that conditions are challenging and the effort needed will be great, but still believing enough in the long-term goals to keep pushing the boundaries and overcoming roadblocks.” Ang, who had spent more than a decade of his career managing various TV operations, ranging from content production to regional co-production and advertising sales, had always dreamed of starting his own venture in the media space.&nbsp; “In the 1990s and the early 2000s, I was working in the heyday of television. There, I realised how powerful content can be in influencing, entertaining and educating the world, and the endless possibilities it holds as a business,” he recalled. “I was serving as an advisor to the Managing Director of Media Prima in Malaysia, when I was presented the opportunity to take over a small studio producing a series for the TV station. I jumped at the opportunity, named it mm2, and haven’t looked back since.” Established in Malaysia in 2008, mm2 Asia moved its headquarters to Singapore the following year. It began distributing films, and subsequently producing them in Malaysia and Singapore. In 2011, Singaporean actor Jack Neo wanted to produce a film about boys entering National Service, and that was the beginning of the “Ah Boys to Men” franchise.&nbsp; “We’ve been fortunate to be part of the journey spanning four commercially successful films, a female spin-off film “Ah Girls Go Army”, an episodic web series, and a stage musical to boot,” Ang recounted. At the same time, the Group turned its attention to other Chinese-speaking markets - Taiwan, Hong Kong and China. It cultivated relationships and networks with the aim of learning from such collaborations. Consequently, it was able to start producing content in those markets as well.&nbsp; “We began to see our vision of a pan-Asian or regional studio taking shape. To fuel that vision, I knew I would need to tap the capital markets. This led to the listing of mm2 at the end of 2014,” Ang noted. “With the resources in hand, we started taking strategic stakes in companies that are synergistic to the core content business, such as Vividthree Productions, with its computer graphics, special effects, postproduction and AR/VR capabilities, in 2015, as well as UnUsUaL Entertainment, the top concert promoter in Singapore, in 2016.”&nbsp; Weathering the Storm The cinema business was the last piece of the puzzle in mm2 Asia’s attempt to move up the value chain of film production. Having a stake in distribution meant greater overall bargaining power for its content business.&nbsp; “In 2016, we bought our first two Cathay cinemas in Malaysia and branded them as mmCineplexes to learn the ropes. Subsequently, with the blessing of the Cathay Cineplexes owner, we bought over the operations for Singapore,” Ang said. “We’ve often been criticised that the cinema acquisition transformed mm2 from an asset-light company to an asset-heavy one. However, we believe it has given us better access to and control of the very last mile where monetisation takes place for our films, as well as allowed us to network with many producers from around the world.” However, when COVID-19 struck in 2020, all production work ceased. The Group was hit hard as filmmaking was halted, and cinemas were shuttered due to national lockdowns, or were forced to operate under capacity restrictions.&nbsp; “Every day was a battle during the worst of the pandemic - I was faced with the challenge of how to keep the business going, to safeguard the livelihoods of our staff, while still supporting our business partners and meeting our financial obligations,” Ang said. “I’m fortunate to have the support of my team to help the Group weather the storm, and each day they motivate me to stay focused in steering us through these challenging times.” Today, mm2 Asia owns integrated businesses across the content, entertainment, cinema, event and concert industries in Singapore, Malaysia, Hong Kong, Taiwan, China, and the US. After listing on SGX Catalist in December 2014, the Group was transferred to the Mainboard in August 2017. The Group champions “Content and Media for Asia”, viewing the entire region as its customer base. Its network of content producers - from Singapore, Malaysia, Taiwan, Hong Kong and China - aims to create content that is not only successful in local markets, but also appeals to audiences across Asia. “The key strategy that led to our rapid growth is our ability to join the dots of the entire business value chain,” Ang noted.&nbsp; “This is a particularly challenging task, especially in the creative industry where there is much ambiguity in the process, from start to finish. Our sensitivity and respect for creative talent in the industry put us in a very unique position to effectively balance commercial success and creative excellence.” In fact, many of mm2’s commercial successes are the work of new talents. “Their success inspires and encourages me to do more,” he said. “It makes me happy to know they’ve made good with the opportunities, and now they’re on their way to becoming great in their fields.” As a result, Ang remains passionate about discovering new talent and helping them scale fresh heights. “I’m always reminded of the time when I was starting out in my career, and of the mentors I met along the way. Without their trust and faith, I wouldn’t be the person I am today. This is my way of paying it forward.” Remaining Resilient Looking ahead, mm2 will continue to grow its presence in the key North Asian markets of China, Taiwan and Hong Kong, where it has witnessed the strongest growth in the past five years. Other markets on its radar include Thailand and South Korea. “In the content business, we have to constantly innovate to stay relevant,” Ang pointed out.&nbsp; “We’ve done well and proven our ability to operate effectively in the Chinese-speaking markets in the area of content creation. Moving forward, we want to expand into non-Chinese speaking markets, such as the US, Korea and Thailand, which are more mature, established and competitive.” “We can learn a lot from being a part of their world-class creative environments, sourcing new talents and cross-pollinating ideas, and at the same time, propelling growth beyond the markets we're already operating in,” he added. In particular, the rise of Over the Top (OTT) streaming platforms has been a key driver of the Group’s core content business. “We’ve seen increased demand for our content since the start of the pandemic, and we believe this trend is set to continue,” Ang said. “We're anticipating that post-COVID, the streaming wars will persist, and cinemas will continue to recover with tentpole titles finally being released. The overall need for content will grow significantly across all markets, and we’re in a good position to capitalise on this wave.” At the same time, mm2 will continue embracing technology to develop high-growth models across its business units and value chains.&nbsp; “We’ve announced new ventures in media tech, utilising blockchain technology, NFTs and cryptocurrency,” he said, referring to non-fungible tokens, which are digital assets bought in an online marketplace and stored on blockchain, a secure public ledger. “These initiatives will expand our offerings across the different business verticals and generate further revenue from our existing content creation and distribution capabilities.” Overall, mm2 has come a long way since its inception in 2008, Ang pointed out. “We’ve transformed from a local production house into an entertainment company with diversified businesses across different geographical markets. Even with the challenges brought on by COVID-19, the underlying fundamentals of our business remain resilient, and we’re poised for recovery once restrictions ease.” &nbsp;
mm2 Asia Ltd Headquartered in Singapore, mm2 Asia champions “Content and Media for&nbsp; Asia”, with integrated businesses across the content, immersive media, cinema, event and concert industries in Singapore, Malaysia, Hong Kong, Taiwan, China and the US. Since being listed on SGX Catalist in December 2014, &nbsp;&nbsp;and its successful transfer to SGX Mainboard in August 2017, mm2 Asia has strengthened its competitive advantage through the acquisitions of a majority stake in award-winning virtual reality, animation and visual effects studio Vividthree Holdings Ltd, as well as event production and concert promotion company UnUsUaL Ltd. With the establishment of mmCineplexes and the acquisition of Cathay Cineplexes Pte Ltd, mm2 Asia is currently one of the key cinema operators in Malaysia and Singapore. The company website is: &nbsp;<a href="http://www.mm2asia.com" target="_blank" rel="noopener">www.mm2asia.com</a> Click&nbsp;<a href="https://www.sgx.com/securities/equities/1B0" target="_blank" rel="noopener">here&nbsp;</a>for the company's StockFacts page. For the six months ended 30 September 2021 financial results, click&nbsp;<a href="https://links.sgx.com/1.0.0/corporate-announcements/3SVTUZU13EYR1BPI/690754_20211112%20-%20mm2%20Asia%20-%201HFY2022%20-%20Financial%20Results%20Press%20Release.pdf" target="_blank" rel="noopener">here</a>. &nbsp;
About&nbsp;kopi-C: the Company brew
Text: Jennifer Tan-Stanisic Photo: Company file kopi-C&nbsp;is a regular column on the SGX Research website that features C-level executives of leading companies listed on Singapore Exchange. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations. For previous editions of&nbsp;kopi-C: the Company brew,&nbsp;please click&nbsp;<a href="https://www.sgx.com/research-education/market-dialogues" target="_blank" rel="noopener">here</a>. &nbsp; For more information, or if you would like your senior executives to be featured on SGX Market Dialogues, please send suggestions to&nbsp;<a href="https://www.sgx.com/jennifer.t@sgx.com" target="_blank" rel="noopener">jennifer.t@sgx.com</a>.


mm2 - Chairman

Media and entertainment industry veteran Melvin Ang is no stranger to courage and tenacity, values which form the backbone of his distinctive never-say-die attitude.&nbsp;  These are attributes that stood Ang in good stead through the founding, development and expansion of SGX-listed entertainment group mm2 Asia Ltd - a growth journey that spanned 12 years.&nbsp;  “Grit and resilience are values that are important to me, and also particularly relevant in the current climate,” said Ang, Founder and Executive Chairman of mm2 Asia.  “The definition of success can vary, but success cannot be achieved without grit and resilience. It’s about knowing that conditions are challenging and the effort needed will be great, but still believing enough in the long-term goals to keep pushing the boundaries and overcoming roadblocks.”  Ang, who had spent more than a decade of his career managing various TV operations, ranging from content production to regional co-production and advertising sales, had always dreamed of starting his own venture in the media space.&nbsp;  “In the 1990s and the early 2000s, I was working in the heyday of television. There, I realised how powerful content can be in influencing, entertaining and educating the world, and the endless possibilities it holds as a business,” he recalled.  “I was serving as an advisor to the Managing Director of Media Prima in Malaysia, when I was presented the opportunity to take over a small studio producing a series for the TV station. I jumped at the opportunity, named it mm2, and haven’t looked back since.”  Established in Malaysia in 2008, mm2 Asia moved its headquarters to Singapore the following year. It began distributing films, and subsequently producing them in Malaysia and Singapore. In 2011, Singaporean actor Jack Neo wanted to produce a film about boys entering National Service, and that was the beginning of the “Ah Boys to Men” franchise.&nbsp;  “We’ve been fortunate to be part of the journey spanning four commercially successful films, a female spin-off film “Ah Girls Go Army”, an episodic web series, and a stage musical to boot,” Ang recounted.  At the same time, the Group turned its attention to other Chinese-speaking markets - Taiwan, Hong Kong and China. It cultivated relationships and networks with the aim of learning from such collaborations. Consequently, it was able to start producing content in those markets as well.&nbsp;  “We began to see our vision of a pan-Asian or regional studio taking shape. To fuel that vision, I knew I would need to tap the capital markets. This led to the listing of mm2 at the end of 2014,” Ang noted.  “With the resources in hand, we started taking strategic stakes in companies that are synergistic to the core content business, such as Vividthree Productions, with its computer graphics, special effects, postproduction and AR/VR capabilities, in 2015, as well as UnUsUaL Entertainment, the top concert promoter in Singapore, in 2016.”&nbsp;  Weathering the Storm  The cinema business was the last piece of the puzzle in mm2 Asia’s attempt to move up the value chain of film production. Having a stake in distribution meant greater overall bargaining power for its content business.&nbsp;  “In 2016, we bought our first two Cathay cinemas in Malaysia and branded them as mmCineplexes to learn the ropes. Subsequently, with the blessing of the Cathay Cineplexes owner, we bought over the operations for Singapore,” Ang said.  “We’ve often been criticised that the cinema acquisition transformed mm2 from an asset-light company to an asset-heavy one. However, we believe it has given us better access to and control of the very last mile where monetisation takes place for our films, as well as allowed us to network with many producers from around the world.”  However, when COVID-19 struck in 2020, all production work ceased. The Group was hit hard as filmmaking was halted, and cinemas were shuttered due to national lockdowns, or were forced to operate under capacity restrictions.&nbsp;  “Every day was a battle during the worst of the pandemic - I was faced with the challenge of how to keep the business going, to safeguard the livelihoods of our staff, while still supporting our business partners and meeting our financial obligations,” Ang said.  “I’m fortunate to have the support of my team to help the Group weather the storm, and each day they motivate me to stay focused in steering us through these challenging times.”  Today, mm2 Asia owns integrated businesses across the content, entertainment, cinema, event and concert industries in Singapore, Malaysia, Hong Kong, Taiwan, China, and the US. After listing on SGX Catalist in December 2014, the Group was transferred to the Mainboard in August 2017.  The Group champions “Content and Media for Asia”, viewing the entire region as its customer base. Its network of content producers - from Singapore, Malaysia, Taiwan, Hong Kong and China - aims to create content that is not only successful in local markets, but also appeals to audiences across Asia.  “The key strategy that led to our rapid growth is our ability to join the dots of the entire business value chain,” Ang noted.&nbsp;  “This is a particularly challenging task, especially in the creative industry where there is much ambiguity in the process, from start to finish. Our sensitivity and respect for creative talent in the industry put us in a very unique position to effectively balance commercial success and creative excellence.”  In fact, many of mm2’s commercial successes are the work of new talents. “Their success inspires and encourages me to do more,” he said. “It makes me happy to know they’ve made good with the opportunities, and now they’re on their way to becoming great in their fields.”  As a result, Ang remains passionate about discovering new talent and helping them scale fresh heights. “I’m always reminded of the time when I was starting out in my career, and of the mentors I met along the way. Without their trust and faith, I wouldn’t be the person I am today. This is my way of paying it forward.”  Remaining Resilient  Looking ahead, mm2 will continue to grow its presence in the key North Asian markets of China, Taiwan and Hong Kong, where it has witnessed the strongest growth in the past five years. Other markets on its radar include Thailand and South Korea.  “In the content business, we have to constantly innovate to stay relevant,” Ang pointed out.&nbsp;  “We’ve done well and proven our ability to operate effectively in the Chinese-speaking markets in the area of content creation. Moving forward, we want to expand into non-Chinese speaking markets, such as the US, Korea and Thailand, which are more mature, established and competitive.”  “We can learn a lot from being a part of their world-class creative environments, sourcing new talents and cross-pollinating ideas, and at the same time, propelling growth beyond the markets we're already operating in,” he added.  In particular, the rise of Over the Top (OTT) streaming platforms has been a key driver of the Group’s core content business. “We’ve seen increased demand for our content since the start of the pandemic, and we believe this trend is set to continue,” Ang said.  “We're anticipating that post-COVID, the streaming wars will persist, and cinemas will continue to recover with tentpole titles finally being released. The overall need for content will grow significantly across all markets, and we’re in a good position to capitalise on this wave.”  At the same time, mm2 will continue embracing technology to develop high-growth models across its business units and value chains.&nbsp;  “We’ve announced new ventures in media tech, utilising blockchain technology, NFTs and cryptocurrency,” he said, referring to non-fungible tokens, which are digital assets bought in an online marketplace and stored on blockchain, a secure public ledger.  “These initiatives will expand our offerings across the different business verticals and generate further revenue from our existing content creation and distribution capabilities.”  Overall, mm2 has come a long way since its inception in 2008, Ang pointed out.  “We’ve transformed from a local production house into an entertainment company with diversified businesses across different geographical markets. Even with the challenges brought on by COVID-19, the underlying fundamentals of our business remain resilient, and we’re poised for recovery once restrictions ease.” &nbsp;
mm2 Asia Ltd  Headquartered in Singapore, mm2 Asia champions “Content and Media for&nbsp; Asia”, with integrated businesses across the content, immersive media, cinema, event and concert industries in Singapore, Malaysia, Hong Kong, Taiwan, China and the US. Since being listed on SGX Catalist in December 2014, &nbsp;&nbsp;and its successful transfer to SGX Mainboard in August 2017, mm2 Asia has strengthened its competitive advantage through the acquisitions of a majority stake in award-winning virtual reality, animation and visual effects studio Vividthree Holdings Ltd, as well as event production and concert promotion company UnUsUaL Ltd. With the establishment of mmCineplexes and the acquisition of Cathay Cineplexes Pte Ltd, mm2 Asia is currently one of the key cinema operators in Malaysia and Singapore.  The company website is: &nbsp;www.mm2asia.com  Click&nbsp;here&nbsp;for the company's StockFacts page.  For the six months ended 30 September 2021 financial results, click&nbsp;here.  &nbsp;
About&nbsp;kopi-C: the Company brew
Text: Jennifer Tan-Stanisic Photo: Company file  kopi-C&nbsp;is a regular column on the SGX Research website that features C-level executives of leading companies listed on Singapore Exchange. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations.  For previous editions of&nbsp;kopi-C: the Company brew,&nbsp;please click&nbsp;here. &nbsp;  For more information, or if you would like your senior executives to be featured on SGX Market Dialogues, please send suggestions to&nbsp;jennifer.t@sgx.com.

Mm2 Asia: Innovating With Cutting-Edge Content

<h2>10 Questions for mm2 Asia</h2>
Company Overview mm2 Asia (mm2) champions “Content and Media for Asia”, with integrated businesses across the content, entertainment, cinema, event and concert industries in Singapore, Malaysia, Hong Kong, Taiwan, China and the United States of America. The Group has a majority stake in virtual reality, visual effects and computergenerated imagery studio, Vividthree Holdings, and an event production and concert promotion company, UnUsUaL Limited. mm2 Asia is currently one of the key cinema operators in Malaysia and Singapore. <a href="https://www.sgx.com/securities/equities/1B0" target="_blank" rel="noopener">Link to StockFacts company page</a>
<ol>
<li>Could you elaborate on mm2’s business segments?</li>
</ol>
<ul>
<li>The Group’s operates four primary business activities:</li>
</ul>
<ol>
<li style="list-style-type: none;">
<ol style="list-style-type: lower-roman;">
<li>Core Content – spans across film, television and online content production, distribution and sponsorship activities. As a producer, mm2 provides services across the entire content value chain, allowing us to derive revenue from all stages of the filmmaking process – from inception to exhibition.</li>
<li>Post and Digital Content Production – mainly housed under Vividthree Holdings, an award-winning studio specialising in Visual Effects (VFX), Computer-Generated Imagery (CGI) and location-based, immersive entertainment production capabilities.</li>
<li>Cinema Operations – mm2 is the only player managing and operating cinemas in both Malaysia and Singapore. The Group operates the brands mmCineplexes and Cathay Cineplexes in Malaysia and Singapore respectively.</li>
<li>Concert and Event – UnUsUaL Limited is the Group’s event production and concert promotion arm. UnUsUaL produces and promotes large-scale events and concerts for renowned artists in Singapore and internationally.</li>
</ol>
</li>
</ol>

10 Questions for mm2 Asia
Company Overview mm2 Asia (mm2) champions “Content and Media for Asia”, with integrated businesses across the content, entertainment, cinema, event and concert industries in Singapore, Malaysia, Hong Kong, Taiwan, China and the United States of America. The Group has a majority stake in virtual reality, visual effects and computergenerated imagery studio, Vividthree Holdings, and an event production and concert promotion company, UnUsUaL Limited. mm2 Asia is currently one of the key cinema operators in Malaysia and Singapore. Link to StockFacts company page

Could you elaborate on mm2’s business segments?


The Group’s operates four primary business activities:




Core Content – spans across film, television and online content production, distribution and sponsorship activities. As a producer, mm2 provides services across the entire content value chain, allowing us to derive revenue from all stages of the filmmaking process – from inception to exhibition.
Post and Digital Content Production – mainly housed under Vividthree Holdings, an award-winning studio specialising in Visual Effects (VFX), Computer-Generated Imagery (CGI) and location-based, immersive entertainment production capabilities.
Cinema Operations – mm2 is the only player managing and operating cinemas in both Malaysia and Singapore. The Group operates the brands mmCineplexes and Cathay Cineplexes in Malaysia and Singapore respectively.
Concert and Event – UnUsUaL Limited is the Group’s event production and concert promotion arm. UnUsUaL produces and promotes large-scale events and concerts for renowned artists in Singapore and internationally.




10 in 10 with Mm2 Asia - Content and Media for Asia

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 <img src='https://api2.sgx.com/sites/default/files/2021-05/UnUsUaL-CEO.jpg' alt='UnUsUaL - CEO' />
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 <div class='content-caption'>UnUsUaL - CEO</div>
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When engineer-turned-entrepreneur Leslie Ong founded UnUsUaL with his brother Johnny in 1997, it began as a stage, sound and lighting equipment rental business, aimed at financing the pair’s tertiary education. 
“Coming from a low-income family, we initially started this company so that we could support ourselves through school,” recalled Ong, who holds a diploma in Electronic Engineering from Singapore’s Ngee Ann Polytechnic.  
However, 24 years later, SGX-listed UnUsUaL has grown into one of Asia’s leading concert promotion as well as event production companies, and is now in the business of fulfilling dreams. 
“I get a lot of joy and satisfaction when fans thank me, when they shake my hand in gratitude, or write in to compliment us on the events,” noted Ong, who is the Group's Chief Executive Officer. “I’m really thrilled to be able to help them realise their dreams of meeting or seeing their idols in the flesh.” 
He also gets a high from sold-out concerts and events. “When you see an auditorium or stadium at full capacity, and all 20,000 or 40,000 fans singing and dancing along with their pop idols, their light sticks all aglow, you know you did good. That feeling is indescribable, which money cannot buy!” 
Listed on SGX Catalist in April 2017, the UnUsUaL Group is an established producer and promoter of large-scale live events and concerts in Singapore and in the region. 
Under its production business segment, it provides support to the artiste’s team or event organiser in terms of stage and set design creation, as well as the installation of sound, light and video. The Group’s promotion business segment focuses on the planning and managing of concerts and events, including the coordination of ticketing matters, as well as marketing activities leading up to the opening of the concert/event.  
In 2016, the Group was acquired by mm2 Asia Ltd, a Singapore-based, SGX Mainboard-listed producer of films, TV and online content and cinema operator.  
With more than 20 years of proven operational track record and established trusted relationships with artistes, UnUsUaL is well-positioned to weather the fallout from the COVID-19 pandemic, Ong noted. 
“We were lucky in that when COVID struck, most of our large gigs and tours had already been completed,” he said. 
During this period, the Group has taken measures to boost its balance sheet, including implementing cost-cuts, such as a reduction in payroll and discretionary expenses, as well as negotiating for revised payment terms on its existing commitments. 
“Our concerts were not cancelled, just postponed a few times. We’re now looking at a pipeline of events in the second half of 2021, both in Singapore and the region,” Ong added. 
“We’ve also been in close touch with the relevant venues to manage the various seat planning, social distancing and SafeEntry procedures, including temperature screening for large crowds. Just like us, our audiences are eagerly looking forward to the return of live shows.” Emerging Mandopop Wave  
Looking ahead, UnUsUaL will leverage on its strength in Asian concerts, with a focus on the Mandopop genre, which has emerged as a powerhouse in world music. The Group plans to continue expanding into selected Western markets with sizeable Asian populations that include permanent residents and students. Examples in 2019 include JJ Lin’s gigs in Melbourne and Sydney, as well as GEM Tang’s concert in San Francisco.  
“This gives UnUsUaL a competitive edge against local organisers in these markets, who may not have the expertise to identify profitable Mandopop concerts,” Ong noted. 
When live shows are eventually given the green light, they will also be conducted in tandem with online screenings. The Group is working on digital distribution and live streaming of such shows, he added.  
“Fans who cannot physically be present at the live concert can watch it online, so they don’t miss out. This hybrid approach will also give us an additional revenue stream,” he said. 
“In the past, artistes were not keen to take up the online option, for fear of poor attendance at these screenings, but with COVID-19, all of that has changed.” 
In March, JJ Lin announced that his “Sanctuary Finale” virtual concert would be streamed live to a global audience on 6 June 2021. This marks the conclusion to his successful Sanctuary World Tour, which kicked off in March 2018 and spanned 43 cities.  
This groundbreaking concert, organised jointly by UnUsUaL and Lin’s production company, will feature new hits and a specially curated, state-of-the-art extended reality (XR), combined with an immersive performance and stage, giving the viewer an unparalleled four-dimensional musical experience. 
The Group also plans to unveil La Clique, a cabaret circus entertainment show, to Singapore audiences at Sands Theatre Marina Bay Sands from 29 May to 18 July 2021. A theatrical experience featuring a unique blend of circus, cabaret, comedy and live music, La Clique has toured cities such as New York, Melbourne, Sydney, Brighton, Montreal and Edinburgh.  Virtual With Live 
According to data from a Goldman Sachs Equity Research report “Music in the Air” published last July, 79% of fans expect to return to live events within four months of the lifting of COVID-19 restrictions, and 74% of concert fans said they would continue to watch live streaming events even after physical events resume. 
A 2020 US Music 360 report, published last September by MRC Data, also showed that 47% of music listeners feel it’s important for the industry to offer live stream performances or virtual concerts. 
Over the medium to long term, Goldman Sachs has forecast live events to rebound to a 4%-5% annual growth rate, reaching US$39 billion by 2030, from US$28 billion in 2019.  
This is driven by “a number of demand and supply side tailwinds”, including the “millennial experience economy” boosting demand for live events, new monetisation opportunities through live streaming, ticket sales, merchandise and sponsorship, as well as artistes’ greater dependence on touring income, the report added. 
Another potential revenue source UnUsUaL is exploring is an e-ticketing platform for the sale of concert and event tickets. “Online ticketing is gradually becoming the norm, and has been made easier and more convenient with a variety of online payment options,” Ong noted. 
“With this e-ticketing platform, we also get to retain all the customer data. This in turn allows us to create a marketing tool for future artiste merchandise sales.” 
At the same time, the Group is working hard to manage some of its key risks and challenges. “Key man risk is a challenge in our line of work, where the firm’s projects are often dependent on the founders’ or owners’ relationships with artistes or artiste managers to secure the rights to promote and produce these shows,” Ong said. 
“To mitigate such risks, UnUsUaL has been actively grooming the next generation of management, who have been able to secure new contracts by cultivating new relationships with key stakeholders.” 
Another risk is the Group’s reliance on Singapore for half its total revenue. “We’ve actively taken steps to mitigate this concentration risk by venturing overseas, into countries such as the US, Australia, and will also progressively expand into regional markets, such as Thailand, Philippines, and Indonesia,” Ong noted. 
Meanwhile, as part of the Group’s environmental, social and governance (ESG) efforts, UnUsUaL makes it a point to re-use and recycle its platforms, stage and design sets, rather than throwing and rebuilding new ones. It is also focused on using solar energy for its lighting needs in outdoor venues and ticketing booths. 
Not surprisingly, there’s much to keep the 54-year-old up till the wee hours. “Organising large-scale shows is always challenging,” he admitted. “What keeps me up are unforeseen events like typhoons, riots, floods and bush fires - all of these involve cancellations, change of venues, insurance claims and/or refunds.” 
At the end of the day, what continues to inspire this father of two is his passion for the industry and the team he has built up over the years.  
“UnUsUaL is not a one-man show - it’s a team effort, and I value my staff, many of whom have been with me for a decade or more,” he added. “It will require everyone’s contributions to ensure that our business remains sustainable over the long term.” 
 

UnUsUaL Ltd

Established in 1997, UnUsUaL started as a stage, sound and lighting equipment rental business. It has grown to become one of the leading names in concert promotion and event production in Asia. Its presence in Singapore is represented by UnUsUaL Entertainment, UnUsUaL Productions, UnUsUaL Development; UnUsUaL Productions in Malaysia; and UnUsUaL Entertainment International in Hong Kong. Its ability to deliver a complete technical solution has seen the company working on large scale events such as the Singapore Arts Festival, the Chingay Parade, SG50 Youth Celebrate! and the Formula One Singapore Grand Prix. The company also promotes and organises world-class concerts and events for artistes such as Air Supply, Andy Lau, Cesar Millan, Chang Hui Mei, G.E.M, Hillsong, Jacky Cheung, Jay Chou, JJ Lin, Kim Soo Hyun, Lee Min Ho, Lionel Richie, Mariah Carey, Michael Bublé, Park Bo Gum, Pet Shop Boys, S.H.E., Stefanie Sun, Rain and Yanni in Singapore and the region.   
The company website is: <a href="http://www.unusual.com.sg/">www.unusual.com.sg</a> 
Click <a href="https://www.sgx.com/securities/equities/1D1">here </a>for the company's StockFacts page. 
For the half year ended 30 September 2020 financial results, click <a href="https://links.sgx.com/1.0.0/corporate-announcements/HC30OSZSKT8CWMPJ/639309_UnUsUaL_1HFY2021%20Press%20Release.pdf">here</a>.

 

About kopi-C: the Company brew

Text: Jennifer Tan-Stanisic Photo: Company file kopi-C is a regular column on the SGX Research website that features C-level executives of leading companies listed on Singapore Exchange. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations. 
For previous editions of kopi-C: the Company brew, please click <a href="https://www.sgx.com/research-education/market-dialogues">here</a>.   
For more information, or if you would like your senior executives to be featured on SGX Market Dialogues, please send suggestions to <a href="https://www.sgx.com/jennifer.t@sgx.com">jennifer.t@sgx.com</a>.
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    UnUsUaL - CEO


When engineer-turned-entrepreneur Leslie Ong founded UnUsUaL with his brother Johnny in 1997, it began as a stage, sound and lighting equipment rental business, aimed at financing the pair’s tertiary education.  
“Coming from a low-income family, we initially started this company so that we could support ourselves through school,” recalled Ong, who holds a diploma in Electronic Engineering from Singapore’s Ngee Ann Polytechnic.   
However, 24 years later, SGX-listed UnUsUaL has grown into one of Asia’s leading concert promotion as well as event production companies, and is now in the business of fulfilling dreams.  
“I get a lot of joy and satisfaction when fans thank me, when they shake my hand in gratitude, or write in to compliment us on the events,” noted Ong, who is the Group's Chief Executive Officer. “I’m really thrilled to be able to help them realise their dreams of meeting or seeing their idols in the flesh.”  
He also gets a high from sold-out concerts and events. “When you see an auditorium or stadium at full capacity, and all 20,000 or 40,000 fans singing and dancing along with their pop idols, their light sticks all aglow, you know you did good. That feeling is indescribable, which money cannot buy!”  
Listed on SGX Catalist in April 2017, the UnUsUaL Group is an established producer and promoter of large-scale live events and concerts in Singapore and in the region.  
Under its production business segment, it provides support to the artiste’s team or event organiser in terms of stage and set design creation, as well as the installation of sound, light and video. The Group’s promotion business segment focuses on the planning and managing of concerts and events, including the coordination of ticketing matters, as well as marketing activities leading up to the opening of the concert/event.   
In 2016, the Group was acquired by mm2 Asia Ltd, a Singapore-based, SGX Mainboard-listed producer of films, TV and online content and cinema operator.   
With more than 20 years of proven operational track record and established trusted relationships with artistes, UnUsUaL is well-positioned to weather the fallout from the COVID-19 pandemic, Ong noted.  
“We were lucky in that when COVID struck, most of our large gigs and tours had already been completed,” he said.  
During this period, the Group has taken measures to boost its balance sheet, including implementing cost-cuts, such as a reduction in payroll and discretionary expenses, as well as negotiating for revised payment terms on its existing commitments.  
“Our concerts were not cancelled, just postponed a few times. We’re now looking at a pipeline of events in the second half of 2021, both in Singapore and the region,” Ong added.  
“We’ve also been in close touch with the relevant venues to manage the various seat planning, social distancing and SafeEntry procedures, including temperature screening for large crowds. Just like us, our audiences are eagerly looking forward to the return of live shows.”  Emerging Mandopop Wave   
Looking ahead, UnUsUaL will leverage on its strength in Asian concerts, with a focus on the Mandopop genre, which has emerged as a powerhouse in world music. The Group plans to continue expanding into selected Western markets with sizeable Asian populations that include permanent residents and students. Examples in 2019 include JJ Lin’s gigs in Melbourne and Sydney, as well as GEM Tang’s concert in San Francisco.   
“This gives UnUsUaL a competitive edge against local organisers in these markets, who may not have the expertise to identify profitable Mandopop concerts,” Ong noted.  
When live shows are eventually given the green light, they will also be conducted in tandem with online screenings. The Group is working on digital distribution and live streaming of such shows, he added.   
“Fans who cannot physically be present at the live concert can watch it online, so they don’t miss out. This hybrid approach will also give us an additional revenue stream,” he said.  
“In the past, artistes were not keen to take up the online option, for fear of poor attendance at these screenings, but with COVID-19, all of that has changed.”  
In March, JJ Lin announced that his “Sanctuary Finale” virtual concert would be streamed live to a global audience on 6 June 2021. This marks the conclusion to his successful Sanctuary World Tour, which kicked off in March 2018 and spanned 43 cities.   
This groundbreaking concert, organised jointly by UnUsUaL and Lin’s production company, will feature new hits and a specially curated, state-of-the-art extended reality (XR), combined with an immersive performance and stage, giving the viewer an unparalleled four-dimensional musical experience.  
The Group also plans to unveil La Clique, a cabaret circus entertainment show, to Singapore audiences at Sands Theatre Marina Bay Sands from 29 May to 18 July 2021. A theatrical experience featuring a unique blend of circus, cabaret, comedy and live music, La Clique has toured cities such as New York, Melbourne, Sydney, Brighton, Montreal and Edinburgh.   Virtual With Live  
According to data from a Goldman Sachs Equity Research report “Music in the Air” published last July, 79% of fans expect to return to live events within four months of the lifting of COVID-19 restrictions, and 74% of concert fans said they would continue to watch live streaming events even after physical events resume.  
A 2020 US Music 360 report, published last September by MRC Data, also showed that 47% of music listeners feel it’s important for the industry to offer live stream performances or virtual concerts.  
Over the medium to long term, Goldman Sachs has forecast live events to rebound to a 4%-5% annual growth rate, reaching US$39 billion by 2030, from US$28 billion in 2019.   
This is driven by “a number of demand and supply side tailwinds”, including the “millennial experience economy” boosting demand for live events, new monetisation opportunities through live streaming, ticket sales, merchandise and sponsorship, as well as artistes’ greater dependence on touring income, the report added.  
Another potential revenue source UnUsUaL is exploring is an e-ticketing platform for the sale of concert and event tickets. “Online ticketing is gradually becoming the norm, and has been made easier and more convenient with a variety of online payment options,” Ong noted.  
“With this e-ticketing platform, we also get to retain all the customer data. This in turn allows us to create a marketing tool for future artiste merchandise sales.”  
At the same time, the Group is working hard to manage some of its key risks and challenges. “Key man risk is a challenge in our line of work, where the firm’s projects are often dependent on the founders’ or owners’ relationships with artistes or artiste managers to secure the rights to promote and produce these shows,” Ong said.  
“To mitigate such risks, UnUsUaL has been actively grooming the next generation of management, who have been able to secure new contracts by cultivating new relationships with key stakeholders.”  
Another risk is the Group’s reliance on Singapore for half its total revenue. “We’ve actively taken steps to mitigate this concentration risk by venturing overseas, into countries such as the US, Australia, and will also progressively expand into regional markets, such as Thailand, Philippines, and Indonesia,” Ong noted.  
Meanwhile, as part of the Group’s environmental, social and governance (ESG) efforts, UnUsUaL makes it a point to re-use and recycle its platforms, stage and design sets, rather than throwing and rebuilding new ones. It is also focused on using solar energy for its lighting needs in outdoor venues and ticketing booths.  
Not surprisingly, there’s much to keep the 54-year-old up till the wee hours. “Organising large-scale shows is always challenging,” he admitted. “What keeps me up are unforeseen events like typhoons, riots, floods and bush fires - all of these involve cancellations, change of venues, insurance claims and/or refunds.”  
At the end of the day, what continues to inspire this father of two is his passion for the industry and the team he has built up over the years.   
“UnUsUaL is not a one-man show - it’s a team effort, and I value my staff, many of whom have been with me for a decade or more,” he added. “It will require everyone’s contributions to ensure that our business remains sustainable over the long term.”  
 

UnUsUaL Ltd

Established in 1997, UnUsUaL started as a stage, sound and lighting equipment rental business. It has grown to become one of the leading names in concert promotion and event production in Asia. Its presence in Singapore is represented by UnUsUaL Entertainment, UnUsUaL Productions, UnUsUaL Development; UnUsUaL Productions in Malaysia; and UnUsUaL Entertainment International in Hong Kong. Its ability to deliver a complete technical solution has seen the company working on large scale events such as the Singapore Arts Festival, the Chingay Parade, SG50 Youth Celebrate! and the Formula One Singapore Grand Prix. The company also promotes and organises world-class concerts and events for artistes such as Air Supply, Andy Lau, Cesar Millan, Chang Hui Mei, G.E.M, Hillsong, Jacky Cheung, Jay Chou, JJ Lin, Kim Soo Hyun, Lee Min Ho, Lionel Richie, Mariah Carey, Michael Bublé, Park Bo Gum, Pet Shop Boys, S.H.E., Stefanie Sun, Rain and Yanni in Singapore and the region.    
The company website is: www.unusual.com.sg  
Click here for the company's StockFacts page.  
For the half year ended 30 September 2020 financial results, click here.

 

About kopi-C: the Company brew

Text: Jennifer Tan-Stanisic Photo: Company file  kopi-C is a regular column on the SGX Research website that features C-level executives of leading companies listed on Singapore Exchange. These interviews are profiles of senior management aimed at helping investors better understand the individuals who run these corporations.  
For previous editions of kopi-C: the Company brew, please click here.    
For more information, or if you would like your senior executives to be featured on SGX Market Dialogues, please send suggestions to jennifer.t@sgx.com.



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