On November 3, 2016, Jacobs Douwe Egberts (JDE) launched a bid for Singapore-based food and beverage company Super Group Ltd. (Super). JDE had already acquired 60 per cent of the shares but needed another 30 per cent in order to delist the company and take it private. The minority shareholders of Super faced the task of evaluating whether the offer from JDE was reasonable and whether they should tender or hold on to their shares. Their decisions would depend on the valuation of Super’s shares, based on financial and other relevant and available market information.

For NUS Business School: (Faculty only)
To obtain a free copy of the case, please contact Ms Kwok Siew Geok (bizksg@nus.edu.sg)

Hyflux is a global sustainable solutions company that provides integrated water management services. In order to fund its rapid growth and the development of its long-term projects, Hyflux raised funds through numerous rounds of financing by issuing perpetual preference shares and bonds, as well as obtaining bank loan facilities. In May 2018, Hyflux filed for court supervision to facilitate debt restructuring and reorganization. This case seeks to analyse the evolution of Hyflux’s capital structure over the years, trace the causes of its financial problems, and discuss the options available to its bondholders and shareholders.

This is a case study on OWNDAYS Pte Ltd. Owndays is an optics shop established in 1989 in Japan. It was previously on the verge of bankruptcy due to humongous debts until Shuji Tanaka, the current president and CEO, decided to acquire it in 2008. Under Tanaka’s leadership, as of 2018, Owndays has successfully penetrated 11 Asian markets as of 2018 and they plan to open more than 500 stores across the Asia Pacific Region over the next 5 years. The factors behind the success of OWNDAYS are closely examined in this report alongside the major turning points. We also seek to identify potential difficulties OWNDAYS will face in the coming years and how they could potentially overcome them to be the leading company in the eyewear industry. The report aims to uncover the reasons for the unprecedented growth of OWNDAYS by focusing on the major turning points that were led by successful business strategies envisioned by Mr Tanaka and his team. A profound analysis of this case study gives companies a better understanding of both the optics industry and also helps companies better understand how to maneuver through an unpredictable, fast-paced realm of business. Awareness of the challenges and fundamental reasons for OWNDAYS’ success in surmounting these obstacles would provide great insight to namely failing companies seeking to revive their businesses.

Keywords: Eyewear, Asian, Fashion Accessory, Management

In 2018, the Singapore-based real estate agency OrangeTee launched a new, online platform in response to disruptive innovation in the real estate sector. Property Agents Review allowed clients to rate and review OrangeTee’s agents upon the completion of a real estate transaction. After a hard-fought campaign to overcome initial resistance to the idea, agents credited the new platform with an increase in referrals. OrangeTee proudly championed Property Agents Review as an example of embracing technology and a future-focused outlook. Nevertheless, the management team understood that there was more work to be done. For example, the platform’s technology could be easily copied by competitors. What could they do to stay at the forefront of technology?

For NUS Business School: (Faculty only)
To obtain a free copy of the case, please contact Ms Kwok Siew Geok (bizksg@nus.edu.sg)

As family businesses progress and are transferred to the next generation, the founding family often develops explicit rules in the form of a family constitution. This case explores one aspect of the family constitution, namely the interaction between family members and the business. After turning 80 years old, Ongky Lim decides it is time to develop family rules to deal with his expanding family and their diverse needs and talents. This case helps family owners appreciate the benefits of family rules and understand the types of rules required.

As family businesses implement more sophisticated governance, the founding family often develops explicit rules in the form of a family constitution. This case explores one aspect of the family constitution, namely the ownership and control of the business in the second and third generation. An Asian patriarch, Ongky Lim, grapples with how to best preserve his legacy for future generations as he weighs advice from different people. The case helps family owners to evaluate different ownership and control options.

In September 2018, WaterEquity, a US-based investment vehicle for both financial and social returns, had to raise US$50 million in total funding capital. The sales team had to propose sales pitches for alternative investments for three types of investors. From a financial perspective, the investment was essentially a risk-free asset with an annual return of 3.5 per cent. However, this investment could also positively affect four developing countries—India, the Philippines, Indonesia, and Cambodia—by providing clean water solutions for billions of people. Through the lending facilities of the local microfinance institutions of these four countries, WaterEquity could offer support to the poor and empower more women, generating both financial and social returns. Different groups of investors might be attracted by different levels of these social returns as well as the financial returns. The sales team planned to use a simple extension of the standard Markowitz portfolio theory framework to incorporate social returns and account for two distinct types of returns, customizing the sales pitches for each of three groups of investors.

For NUS Business School: (Faculty only)
To obtain a free copy of the case, please contact Ms Kwok Siew Geok (bizksg@nus.edu.sg)

In early 2015, the chief executive officer of Bumbox Logistics Private Limited (Bumbox) faced a challenge. The company, launched in Singapore, provided smart lockers for use by delivery companies and consumers to ensure the safe and timely receipt of online purchases. The lockers offered an attractive opportunity, given their ability to resolve last-mile delivery problems that plagued both logistics companies and online consumers. Despite the promising business concept, 18 months after launching, the business had not gained much traction—or revenue. The chief executive officer was fully aware of the company’s multiple challenges: because parcel lockers were a new concept in Singapore, consumers needed to be educated on their use; the company faced competition from other companies, including the nation’s post office; and while increasing the number of smart lockers would help the company succeed, expanding the network could only be justified once the lockers were being widely used. The company had tried to target three segments—online shoppers/consumers, logistics companies, and e-tailers—but because of limited resources, it needed to focus on one segment only. What strategy should the chief executive officer follow to take Bumbox to the next level?

For NUS Business School: (Faculty only)
To obtain a free copy of the case, please contact Ms Kwok Siew Geok (bizksg@nus.edu.sg)

In mid 2019, Mobiuspace, a Chinese Internet company, faced a new challenge. As a result of declining revenues from domestic mobile Internet markets, overseas markets offered new opportunities. In 2009, Snaptube, a short video aggregation and distribution platform that Mobiuspace offered as its main product, seized the opportunity to grow in emerging markets by creating localized and personalized video content. Despite the company’s initial success with its expansion strategy, Mobiuspace’s chief executive officer still needed to figure out how to achieve sustainable profitability and long term growth. In particular, he had to enhance users’ engagement and diversify the company’s sources of revenue. How would he achieve all of his objectives?

For NUS Business School: (Faculty only)
To obtain a free copy of the case, please contact Ms Kwok Siew Geok (bizksg@nus.edu.sg)

In 2016, China witnessed a significant rise in the knowledge economy. Many users, who had been used to consuming information on the Internet for free, had become increasingly willing to pay for user-generated-content (UGC). Recognizing this emerging opportunity, Qiushibaike (QB), a well-established UGC platform with a focus on entertaining content, rolled out a new pay-for-knowledge product, namely Youliaodao (YLD), which focused on informational content. Instead of following the popular pay-for-knowledge product endorsed by eye-catching celebrities for hedonic needs, YLD differentiated itself by charging for high-quality UGC for practical problem-solving. QB needed to make a critical decision: Should the company support YLD with additional investments and promotion of its informational content, or should QB terminate YLD and return to the company’s core competence area of promoting more entertaining content? How could YLD cope with the increased competition and overcome these obstacles?

For NUS Business School: (Faculty only)
To obtain a free copy of the case, please contact Ms Kwok Siew Geok (bizksg@nus.edu.sg)