logo
TransportBT: Singapore's surprising and thriving space industry

TransportBT: Singapore's surprising and thriving space industry

Business Times19-05-2025

In the latest episode of TransportBT by The Business Times, host Derryn Wong dives deep into Singapore's space industry with Jonathan Hung, executive director, Office for Space Technology & Industry (OSTIn). The conversation delivers great insight into the current state and future potential of Singapore's space sector.
Singapore's long history in space
Contrary to popular belief, Singapore's involvement in space activities dates back several decades. Providing Wong with a quick history lesson, Hung points out that Singapore's first satellite ground station was established in Sentosa in 1971, and our first satellite was launched in 1998.
Today OSTIn plays a pivotal role as Singapore's lead front for space activities. Hung explains that the office, having grown and evolved into its current form, is now divided into three main pillars - technology, industry, and international relations. OSTIn oversees satellite missions and supports a vibrant ecosystem of over 70 companies - fostering global partnerships.
Key technologies and innovations
Singapore excels in satellite subsystems, with significant investments in electronic stacks, hardware, and software. The country's strength in miniaturisation has enabled the development of smaller, more efficient satellites, crucial in the era of space democratisation spearheaded by entities like SpaceX.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Sign Up
Sign Up
Wong and Hung then turn their conversation to how space technologies directly benefit other industries in Singapore. For example, satellite communications which enhance maritime and aviation efficiencies - critical for Singapore's status as a global hub.
Singapore's future in space exploration
While Singapore may not have its own launch site due to land constraints, Hung does muse on the potential for the country to participate actively in space exploration missions. He believes that collaborations with other nations and companies will be key, particularly in areas like in-space robotics and advanced satellite communications.
However for now, it is more earth based endeavours with the Earth Observation Initiative (EOI) which aims to tackle sustainability and humanitarian challenges through remote sensing satellite technology. This initiative underscores Singapore's commitment to using space technology for the greater good.
Listen now to the conversation between Derryn Wong and Jonathan Hung which provides a comprehensive overview of Singapore's current achievements and future aspirations in the space sector.
TransportBT is a podcast of BT Correspondents. Look out for the next episode featuring senior correspondent Leslie Yee on property matters. And if you have any thoughts or questions, feel free to reach out to us at btpodcasts@sph.com.sg.
---
Written and hosted by: Derryn Wong (derrynwong@sph.com.sg)
With Jonathan Hung, executive director, Office for Space Technology & Industry
Edited by: Emily Liu & Claressa Monteiro
Produced by: Derryn Wong, Emily Liu & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
---
Follow BT Correspondents:
Channel: bt.sg/btcobt
Amazon: bt.sg/btcoam
Apple Podcasts: bt.sg/btcoap
Spotify: bt.sg/btcosp
YouTube Music: bt.sg/btcoyt
Website: bt.sg/btcorresp
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
BT Podcasts: bt.sg/pcOM
BT Market Focus: bt.sg/btmktfocus
BT Branded Podcasts: bt.sg/brpod
BT Lens On: bt.sg/btlenson

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

WealthBT: Crafting a lasting legacy of values over valuables
WealthBT: Crafting a lasting legacy of values over valuables

Business Times

time10 hours ago

  • Business Times

WealthBT: Crafting a lasting legacy of values over valuables

In the intricate world of legacy planning, what does legacy mean to you? Is it merely wealth distribution between the generations or is there a deeper meaning to the term 'legacy'. In the latest episode of WealthBT, a podcast of BT Correspondents by The Business Times, host Genevieve Cua conducts an insightful discussion with Christopher Tan, chief executive, Providend, for those seeking to understand how to leave a meaningful legacy. Why legacy planning matters People often consider legacy planning simply as the process of distributing assets to loved ones. However, as highlighted in this episode, legacy planning involves much more. It's about the lasting impact you wish to leave on your family and community. The podcast emphasises the need to reflect on what you want to be remembered for - beyond just material wealth. Tan illustrates this by explaining that true legacy planning encompasses your beliefs and values, not just your financial assets. Values and beliefs you want to pass on BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Both Cua and Tan agree that legacy planning is a continuous process that involves making daily life choices that align with your core values. Some practical steps include deciding what values and beliefs you want to pass on, who your beneficiaries will be, and how to manage potential issues that might arise in wealth distribution. One of the episode's highlights is its detailed exploration of common mistakes in legacy planning. Tan points out issues such as providing too much too soon to children, which can create dependency and entitlement. Another mistake is the reluctance to talk openly about wealth with children, resulting in misunderstandings after parents pass away. In the podcast he makes some suggestions to avoid future conflicts. Significance of a Letter of Wishes A notable strategy discussed in the podcast is the use of a Letter of Wishes, which adds personal context and guidance to formal legal documents like wills and trusts. This letter can clarify the reasoning behind specific bequests and express the values you hope will guide future generations. Tan emphasises that this letter is crucial for helping trustees and executors make discretionary decisions aligned with your wishes. The episode also covers how parents can prepare their children to inherit wealth responsibly. His recommendations in this part of the podcast is key listening for someone wanting to ensure understanding of intentions. Listen now to the episode as it offers a comprehensive guide to thinking beyond financial assets. Addressing common pitfalls, offering insights into the importance of values in wealth transfer, and provides strategies to prepare the next generation. WealthBT is a podcast of BT Correspondents. Look out for the next episode featuring correspondent Derryn Wong. And if you have any thoughts or questions, feel free to reach out to us at btpodcasts@ --- Written and hosted by: Genevieve Cua (gen@ With Christopher Tan, chief executive officer, Providend Edited by: Emily Liu & Claressa Monteiro Produced by: Genevieve Cua, Emily Liu & Chai Pei Chieh A podcast by BT Podcasts, The Business Times, SPH Media --- Follow BT Correspondents: Channel: Amazon: Apple Podcasts: Spotify: YouTube Music: Website: 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 Podcasts: BT Market Focus: BT Branded Podcasts: BT Lens On:

Market Focus Daily: Monday, June 9, 2025
Market Focus Daily: Monday, June 9, 2025

Business Times

time21 hours ago

  • Business Times

Market Focus Daily: Monday, June 9, 2025

Asian markets rally ahead of latest China-US trade talks; Japan confirms GDP contraction, backing Bank of Japan's cautious stance; CapitaLand Investment expands fund with Japan asset acquisition at 30 billion yen. Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day's market movements and news from Singapore and the region. Written and hosted by: Emily Liu (emilyliu@ Produced and edited by: Chai Pei Chieh & Claressa Monteiro Produced by: BT Podcasts, The Business Times, SPH Media --- BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Follow BT Market Focus and rate us on: Channel: Amazon: Apple Podcasts: Spotify: YouTube Music: Website: Feedback to: btpodcasts@ 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 at: BT Correspondents: BT Podcasts: BT Branded Podcasts: BT Lens On:

Private assets giant Brookfield expects alternative investments to replace public markets in 25 years
Private assets giant Brookfield expects alternative investments to replace public markets in 25 years

Business Times

timea day ago

  • Business Times

Private assets giant Brookfield expects alternative investments to replace public markets in 25 years

[SINGAPORE] Bruce Flatt, the billionaire chief executive officer of Toronto-based Brookfield, is understandably bullish on the prospects of alternative investments. The Canadian investment giant has, after all, amassed more than US$1 trillion in assets under management (AUM), and is one of the world's largest managers of alternative assets, also commonly known as private markets. Flatt foresees that, in 25 years, more retail investors would be channelling their funds to private assets, and the asset class would then no longer be billed as 'alternative'. The 59-year-old, who was in Singapore recently, told The Business Times: 'Fifty per cent of most individuals' retail accounts will have private investments in them. And this is a wholesale change of retirement savings accounts around the world ... so owning private businesses should be called 'mainstream' over the next 25 years.' When that happens, fixed income and equities would become known as alternative assets, he said. Recalling when he first pitched private markets to institutional investors 25 years ago, he said he had described the asset class as nascent. It has since then become mainstream for deep-pocketed investors such as GIC and Temasek Holdings. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Private markets are growing in popularity, as more countries are allowing retail investors to dabble in the asset class, potentially unlocking additional billions worth of funds. Singapore's central bank is assessing feedback to its proposal, made in late March, to broaden retail investors' access to private markets. Institutional investors such as pension funds, insurance companies and sovereign wealth funds have also entered the fray, allocating more capital to private markets, which have been shown to outperform public-market assets in the long term. More funds flowing into private markets, coupled with the trend of falling initial public offerings on world exchanges, have led to bullish growth forecasts for alternative assets. One of the most bullish is from Bain; it predicts private markets growing at more than twice the rate of public markets, with AUM hitting as high as US$65 trillion in 2032. Singapore expansion Even then, the size of private markets pales in comparison with that of public ones. Data provider Ocorian noted that the total AUM in global public markets stood at US$230 trillion in 2024, compared to the US$12.7 trillion in private assets. Flatt is confident that Brookfield will capture a sizeable chunk of the business out of Singapore. Its office in the city-state is 'a (regional) hub servicing clients and looking after institutional, retail and individual investors – it's a very important city for us', he said, adding that Brookfield sources about a third of its capital for its overall business out of the Asia-Pacific. Flatt said about half the team works on Singapore deals, and the rest are focused on the Asia-Pacific, where Brookfield's AUM is US$146 billion, about 13.5 per cent of its total. The company does not break down AUM by countries. Singapore's AUM is small, but the Brookfield team working on it has shot up from four in 2014, when its office first opened in the Republic, to more than 40 today. To accommodate further expansion, Brookfield is moving to a bigger office in CapitaGreen, a 40-storey Grade-A office tower in the central business district, this month. Together with its subsidiary Oaktree Capital Management, Brookfield will occupy a floor. The extra space will enable the firm and Oaktree to grow to more than 100 staff in the next three to five years. Despite having been in Singapore for more than 10 years, Brookfield sealed its first transaction in the country only last month. It bought three industrial properties from Mapletree Industrial Trust for S$535.3 million, paying a 2.6 per cent premium over their combined independent valuation. Why did Brookfield take so long? Flatt said that as a value investor, Brookfield assesses the current investment environment to be 'much more agreeable' than in 2014, when a lot of capital was chasing assets in the market. In addition, 'it always takes us a long time to get people in place and to be comfortable investing' from when Brookfield first built a hub in Singapore. Eyeing more deals in Singapore With a decade-long presence and the Mapletree transaction, he is confident of a higher number of transactions in the next 10 to 20 years. 'We're a lot more experienced, we have our relationships here, we know all the businesses and companies, institutions, and therefore the future of the business should be much more substantial because of that.' Referring to Brookfield's key focus on real estate, infrastructure, renewable energy, industrial, private equity and private credit, the billionaire chief said 'all the above are open for business' when the firm scours for deals in Singapore. Flatt started his career in Brascan, Brookfield's predecessor, at age 25 back in 1990, and worked his way up to the C-suite in 2002. Since then, he has been credited with expanding Brookfield's presence to more than 30 countries. And with the 2019 acquisition of a majority stake in Oaktree, he also helped propel Brookfield into the ranks of the world's top alternative-asset managers. His value-driven investment thesis, long tenure as CEO, ownership of Brookfield and frugal habits – he takes the subway to work – have led to some observers describing him as Canada's Warren Buffett. Together with a group of partners, he owns 20 per cent of Brookfield. His net worth was US$6.2 billion as at Jun 8, going by Forbes' estimates. That is tied closely to Brookfield's share price, which has jumped 108 per cent in the past five years, in a trajectory that has been largely in line with the company's income growth. In its first quarter ended Mar 31, Brookfield's distributable earnings before gains on asset sales rose 30 per cent year on year to US$1.3 billion, as momentum across its core business remained strong. The first-quarter report follows a record-breaking year in 2024, when distributable earnings rose 15 per cent to hit US$4.9 billion. Brookfield said it uses distributable earnings before realisation because the metric shows income available to be distributed to common shareholders or to be re-invested into the business.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store