ASEAN Speaks
ASEAN Speaks by Maybank features conversations with market analysts and thought leaders across Southeast Asia on topics covering equities, fixed income, forex, economics, sustainability, and current affairs that impact regional markets.
Episodes
Uncertainty is the upside
In this episode, our host and Head of Research, Thilan Wickramasinghe, shares Maybank's latest outlook for the Singapore market, explaining why the team continues to see upside for the Straits Times Index despite recent earnings downgrades. He discusses how easing energy prices, improving market liquidity, the expected deployment of institutional funds under the Equity Market Development Progr
Looking Beyond the AI Bubble
In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how easing tensions between the US and Iran are helping stabilise global markets, even as concerns over AI valuations continue to weigh on Asian equities. He explores why Singapore's resilient macroeconomic outlook continues to stand out, supported by stronger-than-expected growth, benign inflation and improving d
From Fed Shifts to AI Bets: Navigating the Next Market Regime
In this episode, our host Seng Yeow, explores whether global markets are entering a new monetary regime as investors reassess the outlook for interest rates, political risk and the growing role of artificial intelligence in corporate strategy.We begin with US and Asian fixed income markets, where our Head of Fixed Income, Winson Phoon, discusses whether the era of easy money has come to an end fol
From Hormuz to the World Cup: Finding Market Winners
In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how optimism surrounding a US-Iran peace deal and the reopening of the Straits of Hormuz is easing inflation concerns and supporting risk assets globally. With oil prices falling and central bank pressures easing, he highlights why Singapore markets could be a key beneficiary, supported by strong liquidity, AI-driven
Between China and the US, Who Really is Winning the AI Race
With China and the US taking two fundamentally different approaches towards developing their AI ecosystems, there is a growing camp that believes that China is in an equally strong position to win the AI race despite technology sanctions. Producer and host Ong Seng Yeow speaks with Maybank's Hong Kong Strategist Ben Ho to deep dive on three key issues:Why might China be playing a fundamentally di
Looking Closer to Home: ASEAN Opportunities in a Volatile World
In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how weakness in US technology stocks, renewed Middle East tensions and rising oil prices are driving investors to reassess regional positioning. As global uncertainty increases, the focus shifts towards domestic growth drivers and markets that can better withstand external volatility.We begin with our Regional Head of
Singapore’s AI and Oil Momentum: Key Stock Opportunities
In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how improving sentiment surrounding a potential US-Iran agreement to reopen the Straits of Hormuz is lifting regional equities and easing pressure on crude oil prices. Against this backdrop, Singapore’s April NODX numbers reached a 14-year high, reinforcing the view that AI and oil-related activity remain two major dr
Holding Strong: Sea Ltd's Earnings, Safe Haven Flows and Singapore Airlines
In this episode, our host Ong Seng Yeow, discusses how renewed safe haven demand and shifting global capital flows are influencing Asian markets, even as Singapore corporates continue delivering resilient earnings and strategic growth ambitions. He examines what recent market movements suggest about investor positioning, whether inflows into defensive assets are likely to persist, and the implicat
Stronger Than Expected: OCBC, Singapore Tech and Market Catalysts
In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how renewed uncertainty surrounding US-Iran peace negotiations is weighing on global sentiment, even as Singapore’s 1Q results season continues to point toward resilient corporate fundamentals and strong earnings expectations. He outlines the key themes emerging across the banking sector, including rising contribution
Markets Rebound: Commodities, DBS and New BUY Calls
In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how improving sentiment following US efforts to reopen the Straits of Hormuz is easing oil concerns and supporting markets. Commodities remain in focus, alongside key opportunities emerging across banks, healthcare and internet platforms.We begin with our Telco & Internet Analyst, Hussaini Saifee, who introduces M
A More Hopeful Start: Banks, REITs and Standout Stock Ideas
In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how improving sentiment following reports of a potential reopening of the Straits of Hormuz is supporting markets as Singapore’s 1Q results season begins. He outlines what to expect for the banking sector, where earnings momentum may be mixed but supported by wealth fees, trading income and safe-haven inflows.We begin
Policy Tightening and Oil Risks: REITs, Grab and Bank Outlook
In this episode, our host Ong Seng Yeow examines how MAS’s first policy tightening since 2022, persistent oil-driven inflation risks and a resilient Singapore dollar are reshaping the investment landscape. We begin with Head of FX Research, Saktiandi Supaat, on why MAS opted to steepen the SGDNEER slope, the outlook for USDSGD, and why SGD basket longs may still be attractive.We then turn to our R
Niche Value in Uncertain Markets: Energy, Gold and Hidden Winners
In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how escalating Middle East tensions and rising oil prices are reinforcing the need for energy security and shaping investment opportunities.We begin with our Analyst, Xuan Hao Toh, who introduces Singapore Investment and Finance as a differentiated opportunity plus idea with strong niche positioning. This is followed
The Oil Shock Playbook: Energy Transition, Banks and CPO Upside
In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how the ongoing oil shock and rising geopolitical tensions are reshaping market dynamics, with no clear resolution in sight. The focus turns to identifying opportunities across sectors as energy prices remain elevated.CEO of MIB Securities India, Jigar Shah, joins to explore how higher oil prices are accelerating ener
Rising Oil, Rising Risks: ASEAN Strategy and O&G Opportunities
In this episode, our host and Head of Research, Thilan Wickramasinghe, discusses how escalating tensions in the Middle East and rising oil prices are increasing stagflation risks and reshaping market expectations. He explores how ASEAN should be positioned as the probability of a prolonged conflict rises.We are joined by Regional Head of Research, Anand Pathmakanthan, who shares his views on shift
Markets Under Pressure: Oil, Conflict and Investment Strategy
In this episode, our host and Head of Research, Thilan Wickramasinghe, examines how the Iran conflict, now in its fourth week is keeping oil prices above $100 and driving uncertainty across global markets. Economist Brian joins the show to assess the macro impact on ASEAN economies, including growth, inflation and relative winners and losers.We then take a deep dive into the Singapore market, anal
Defence, REITs and Resilient Stocks in Uncertain Times
In this episode, our host and Head of Research, Thilan Wickramasinghe, examines how the escalating Middle East conflict is driving higher oil prices, rising inflation risks and travel disruptions, while highlighting areas of resilience within the Singapore market.Our REITs & Industrials Analyst, Krishna, joins the show to discuss rising global defence spending and why he has upgraded ST Engine
Dominance of China's EV Supply Chain
This episode is a deep dive into the real power shifts in China's EV supply chain and how competitive forces are shaping up in the battery chemistry labs, EV gigafactories and in energy-storage systems.
Banking on Resilience
In this week's ASEAN Speaks, our host Thilan breaks down the key developments shaping Singapore’s markets as the US government shutdown nears resolution and expectations rise for a December Fed rate cut.In light of that, we review Singapore banks’ 3Q results, highlighting why OCBC has been upgraded to BUY, while DBS remains a BUY and UOB a HOLD. Thilan explains the trends driving net interest
Momentum, Money & Markets
The countdown to year-end has begun and markets are showing momentum. In this week’s episode of Market Monday, host Thilan breaks down the key movers and macro shifts shaping Singapore’s investment landscape.Xuan Hao shares his BUY initiation on iFAST with a target price of SGD11.95, highlighting the catalysts behind the fintech’s strong outlook.Next, we turn to Sheng Siong, which surged nearly 6%
Singapore Pulse: From Bank Earnings to Market Value-Up
In this week’s episode of ASEAN Speaks, Thilan Wickramasinghe, our Head of Research, introduces the 3Q25 Singapore banks outlook, and discussed "value-up" reforms that could unlock value and sustain the SMID rally. We then turn to Hussaini Saifee, our TMT analyst, who breaks down his decision to downgrade SEA Limited to a HOLD, citing slower margin recovery.Finally, our host, Jarick Seet
Exhaustion or Opportunity?
In this week’s episode, Seng Yeow hosts, joined by Erica and Hussaini. Seng Yeow opens the discussion with the week’s key geopolitical and macro developments — including renewed Israel–Hamas tensions and the U.S. plan to impose 100% tariffs on Chinese imports by November 1 — framing them as signs of growing strain in global markets. He notes that “markets don’t die of altitude — they die of exhaus
ASEAN’s Digital Shuffle: Commerce, Banks, and Beyond
In this week’s episode of ASEAN Speaks, Hussaini Saifee, our TMT analyst, introduces the emerging concept of Agentic Commerce — what it means for the future of online shopping, how it compares to existing e-commerce platforms, and the implications for key regional players such as Sea Ltd.We then turn to Malaysia, where our host, Thilan, breaks down the state of digital banks. With five new license
Singapore's Big Build
In this week’s episode of ASEAN Speaks, Singapore takes center stage with a construction boom that could reshape the economy. Our Macro Team forecasts the sector to grow at more than 5% annually between 2025 and 2030—well above GDP. Hak Bin shares how this compares with past cycles, what’s fueling the surge, the potential spillover to the broader economy, and the key risks to watch.We then move to
New Indexes, Fresh Insights: ComfortDelGro & Food Empire
In this week's episode of ASEAN Speaks, out host Thilan unpacks the bullish momentum in Singapore's markets and the launch of SGX's new Next 50 indxed, as well as what they mean for small- and mid-cap investors.Sheryl takes us through Eric's deep dive on ComfortDelGro's underperformance versus the STI, and how earnings from Copenhagen could provide a boost. Finally, Xuan Hao sh
Shopee, Starlink & Stocks
In this week’s ASEAN Speaks, our host Thilan kicks off with the latest tailwinds driving Southeast Asia’s internet and telecom sectors.Hussaini, our TMT analyst, breaks down Sea Limited’s Shopee momentum and AI-driven gaming push, then explains why he’s bullish on Singapore Telecommunications and Indosat.Finally, Seng Yeow from our Quant team reviews Malaysia’s 2Q earnings season, highlighting pos
Telcos, Taxis and Banks
In this week’s ASEAN Speaks, our host Thilan looks at why Singapore continues to attract safe haven flows amidst regional uncertainty.Hussaini, our TMT analyst, shares why he thinks the telco sector still has more upside, with a new BUY on StarHub and higher target price on Singtel.Next, our transport analyst, Eric highlights ComfortDelGro’s latest CityCab deal, explaining why this could close the
Storm Clouds or Tailwinds?
In this week's ASEAN Speaks, our host Thilan goes through the many tailwinds boosting Singapore's market.Brian comes in to talk about Singapore's recent jump in manaufacturing numbers and why the economics team is forecasting a potentially higher GDP growth for Singapore.Hussaini, our TMT analyst talks about Singtel's recent investor day and the key takeaways that he believes suppo
Tired of Tariffs
In this week's episode Jarick Seet is stepping in for Thilan as today's host. Jarick opens today's episode by talking about how markets are currently fatigued from Trump's tariffs reflecting in investors' actions over the past week. Krishna comes on to talk about ST Engineering and why he believed fundamentally the stock looks weak explaining his downgrade to a HOLD.Jarick also
Singapore remains unfazed
In this week's episode, Thilan highlights several stock picks amidst earnings seasons and a lot of tariff uncertainties as well as geopolitical issues. Jarick comes on to talk about his recent initiation Sanli Environmental which he believes will benefit largely from potential government contracts. Jarick also briefly goes through CSE Global's results and explains why it was inline with ex
Post-National Day Sparks
In this week’s episode of ASEAN Speaks, our host Thilan kicks off with Jarick, who shares his take on Venture and how changes in the tech sector drives his upgrade to a BUY call. The conversation then moves to Singapore’s three big banks — DBS, UOB and OCBC — where Thilan looks at the differences in their results, the pressures on net interest margins, and what might be ahead for capital returns a
Heads Up, Markets Up
In this week’s episode of ASEAN Speaks, our host Thilan unpacks the STI’s rebound after a six-day losing streak, supported by signs that Singapore may avoid major fallout from Trump’s new tariffs. He discusses how this could revive interest in domestic sectors like construction, safe-haven flows, and capital returns.Hussaini comes on to shares his views on Sheng Siong after a slower 2Q, and dives
Riding the Bull into Results Week
In this week’s episode of ASEAN Speaks, our host Seng Yeow welcomes Jarick to unpack MAS’s new $50bn EQDP programme and its potential to drive concentrated flows into non-index sectors.Jarick shares five BUY calls for the week: Food Empire Holdings, ISOTeam, ComfortDelGro, CSE Global, and Frencken, explaining why each is poised to benefit from raw material trends, sector positioning, and strong cu
Singapore For The Win
In this week’s episode of ASEAN Speaks, our host Thilan breaks down the STI’s record-breaking 11-day rally—the longest in 20 years—and explores what could drive the next leg higher as MAS prepares to announce the first recipients of the EQDP fund.Hussaini initiates Sheng Siong on a BUY despite the 30% rally the stock has seen this year, and he also initiates on Thai Beverage, explaining why he is
Cloudy with a chance of gains
In this week's episode of ASEAN Speaks, our chief Economist, Hak Bin Chua talks about Trump tariffs, and what our region has in store in terms of economics for the second half of the year. Hussaini Saifee, our TMT analyst comes in to talk about recent developments regarding the recent restriction of AI chips exports and what it would mean for data centres in Malaysia and Thailand. Our analyst
Blue Skies SEA-nario
In this week's episode of ASEAN Speaks, our host Thilan paints the best-case scenario for ASEAN amidst all of Trump's uncertainties.Jarick our SMIDs analyst goes through his Opportunity+ Stock, ISOTeam and why he believes there is a lot of upside potential.Anand our regional head of research dials in, giving his input on how the six ASEAN markets will develop and what stocks investors shou
US Still Uncertain Singapore Stands Out
In this week's episode of ASEAN Speaks, our host Thilan discusses upgraded STI targets and why he believes the index will break through the 4000 barrier and what he believes are some of the stocks that are well positioned to benefit.Brian Lee, our economist joins us to look at how core inflation moderated from 0.7% to 0.6% and what he believes the inflation will be like for the rest of the yea
Volatility is the only Constant
In this week's episode of ASEAN Speaks, Singapore's Head of Research, Thilan Wickramasinghe gives us his take on his recent increase in target price for the SGX, given the current volatile market. Hussaini also comes on today to speak about his recent reports on Sea Limited, Grab Holdings and Singapore Telecommunications Ltd as well as several takeaways while speaking to clients over the past week
Focus Closer to Home
In this week’s show our host Thilan discusses the MAS Equity Market Development Fund and the 18 screened stocks that we see benefits the most that have relatively strong corporate governance.Our analyst from Thailand, Boonyakorn recently upgraded Airports of Thailand to a BUY and he goes through why he sees more upside now.Hussaini also comes in to talk about his brand new survey on ASEAN Internet
America Sells, ASEAN Diversifies
Diversify, diversify, diversify! That is the name of the game. In today's episode, our host, Thilan bring us his review on our Macro Team's highly recommended report. We will delve in deep to explore whether the softening of the US dollar is structural or temporary as it loses its domimamce as a world reserve currency.Next, we are joined by our Regional Strategist Anand Pathmakanthan as he
Local Plays Against Tariffs
In today's episode of ASEAN Speaks, our host Thilan is joined by Krishna Guha our REITs analyst and Brian Lee our macroeconomist.Krishna goes through his recent conversations with many of the REITs management and with investors going through what his key observations of the REITs subsector is and how investors are positioned as well.Our host Thilan discusses on Singapore bank's loan growth
Singapore's Safe Haven Potential
In this week’s episode of ASEAN Speaks, our host Thilan reviews Singapore's Q1 GDP outperformance and unpacks selected safe-haven stock picks.Economist Brian Lee joins us to discuss the driving factors behind Singapore's GDP growth and growth forecasts for subsequent quarters.Thilan discusses ISO team's outlook given the anticiapted influx of HDB tenders post General Election amongst other structu
Easing Markets Despite Moody State
In this week’s episode of ASEAN Speaks, our host Thilan unpacks Moody’s downgrade of the US credit rating and the market implications of easing US-China tariffs.Economist Erica Tay joins us to explore what this shift means for China and ASEAN economies. We break down Sea Ltd’s stellar 1Q25 results and why we’ve raised our target price. SMID's Analyst, Jarick Seet is is optimistic about CSE Glo
Post General Elections Amidst Earnings
In this week's epsiode of ASEAN Speaks our host Thilan unpacks the implications of Singapore's General Election and what it means for market stability amid global uncertainty. Once again highlighting our top 40 Singapore-First Picks.Our REITS analyst breaks down 1Q results for most REITs, going through the risks facing the sector and why he remains positive despite a weak quarter. While ou
Singapore-First Focus: Resurgence of the Domestic Economy
In this week's epsiode of ASEAN Speaks our host Thilan dives deeper into our Singapore Strategy amidst tariff uncertainty, highlighting 40 stocks that we have screened with more than 50% of revenue derived in the domestic market.Eric Ong, one of our analysts comes on the show to talk about Raffles Medical being a local champion, explaining his upgraded target price and some catalysts for the stock
Defending Against Tariffs: REITs and Singtel
In today's episode of ASEAN Speaks, we dive deeper into the REITs sector which we believe is our best defensive pick in the ASEAN market. As well as our economist Brian Lee going across Singapore's export numbers and why his forecasts for Singapore's GDP has remained the same.Krishna, our REITs analyst, maintains a POSITIVE view on S-REITs and goes through why after stress testing he b
Playing with the Tariff Switch: Trump's Indecisiveness
In this week's episode of ASEAN Speaks, our host Thilan is joined by our Economist, Brian Lee to give us new insights on MAS’s policy easing and Singapore’s GDP forecast downgrade and Senior Analyst Eric Ong shares why ComfortDelGro could be a safe haven.Thilan unpacks the downgrade of Singapore banks to Neutral and takes a deep dive into the uncertainty of the markets.On Behalf of Senior Anal
Crisis or Catalyst ? Navigating Trump Tariff Shocks
In this week's episode of ASEAN SPEAKS, our host Thilan is joined by our Regional Equity Strategist, Anand Pathmakanthan, to unpack the equity implications of Trump’s Liberation Day tariffs, especially for ASEAN markets like Vietnam, Thailand, and Malaysia.Our Co-Head of Macro Research, Dr Chua Hak Bin, shares his views on the economic impact, including ASEAN growth downgrades and how China’s
Stock Picking Amidst Storms Brewing
In this week's episode of ASEAN Speaks, our host Thilan invites our economist Chua Hak Bin to talk about the US's Liberation Day and how that would impact the ASEAN market.Our SMIDs analyst, Jarick Seet goes through why he is upgrading ISOTeam's target price amidst its CEO buying ISOTeam shares.With increased rumours of Grab merging with GoTo, our analyst from Indonesia, Etta Rusdiana
Market Overview and Equity Highlights
In this episode, our host goes through an ASEAN Equity Overview of the ASEAN-6 (Singapore, Malaysia, Indonesia, Vietnam, Thailand and Philippines) done by Anand Pathmakanthan, Head of Regional Equity Research. Our SMIDs analyst, Jarick Seet, also goes through why he is confident on rating Frencken as a BUY despite the recent slowing down of the semi-conductor space in Singapore, expecting a recove
Potential Buys and China's Trade War Response
In this episode of ASEAN Speaks, we are joined by 3 of our analysts will be talking about three key stocks that they believe will perform well in the future as earnings season comes to a close as well as our China Economist.Hussaini, our TMT analyst talks about Sea Limited's blowout 4th Quarter performance and the key prospects he is forecasting for this year.Jarick Seet, our SMIDs analyst, ta
Sector Shifts: Seeking Shelters from White House Tantrums
In this episode of ASEAN Speaks, we feature three of our analysts who give their opinions on some rating changes as earnings season is coming to a close.Jarick Seet, our SMIDs analyst, talks about the tech manufacturing sector outlook, going into detail on whether the previous murky forecasts has given way to more positive prospects.Thilan Wickramasinghe, our Head of Research, goes in depth into O
MAS and Markets: Policy Changes and Earnings
In today's episode of ASEAN Speaks our host Seng Yeow briefly discusses on the shifts in the US market highlighting Alibaba's upcoming advantage with the recovery of the Chinese Tech Market.Our head of research, Thilan Wickaramasinghe goes through the MAS' first set of recommendations to revive Singapore's stock market which includes a S$5 billion initiative, a Market Development Fund focusing on
Market Watch: Singapore Budget 2025 Expectations, DBS’s Next move, ISOTeam’s Upside
In this week's edition of ASEAN Speaks we have Thilan Wickramasinghe discussing DBS's strong performance in results and loan growth in 2025.Brian Lee, our Economist discusses the expectations for SG Budget 2025 and the impacts on GDP expectations for 2025E.Jarick Seet, our Head of SMIDs also discusses his new initiation in painting contractor ISOTeam and updates his coverage on SingPost.Ed
Markets in Motion: SGX Growth, Grab-Gojek Potential Merger and CICT Outlook
In this week's edition of ASEAN Speaks we have Thilan Wickramasinghe discussing SGX's strong performance the past quarter and potential benefits from an upcoming MAS review.Hussaini Saifee, our TMT analyst discusses a potential Grab-Gojek merger that could potentially go through and how that would affect both companies.Krishna Guha, our REITs analyst also covers his outlook for CICT after
Does DeepSeek Lead to Deep Trouble: Singapore Banks & Trump Tariffs
In today’s edition, we discuss the return of safe haven assets as Trump’s tariff agenda pressures markets. With gold and oil rising, we explore why Singapore banks are also in focus ahead of their 4Q earnings season.
Our analyst, Hussaini, breaks down the DeepSeek shockwave and its impact on ASEAN data centres. Plus, we dive into Sea and Grab’s upcoming results and what to watch for in the ASEAN I
Effect of Trump's Moves: ASEAN Highlights
In today's edition, we discuss about the likely impacts of some of Trump's moves on several sectors in the ASEAN market.
Fresh off our Hong Kong Marketing Event, our analyst Hussaini delivers several key takeaways that investors are focusing on regarding the 2025 outlook of the ASEAN TMT sector.
We also discuss certain key points regarding why, our REITs analyst, Krishna remains bullish on both F
Year of the Snake: Guide to Prosperity
In this week's edition, we talk about our Feng Shui Guide to Prosperity as we usher in the Year of the Wood Sssnake.
Discover how astrological predictions, economic trends, and key sectors could shape the Year of the Wood Snake, featuring Master Ken Koh's advice for navigating 2025's challenges and opportunities.
Furthermore, three of our analysts join us today to talk more about their
Johor-Singapore Special Economic Zone: This Time Will be Different
In this episode, we will be going through the newly signed JS-SEZ agreement and how Singapore's plan to invest money and policies behind it will make this time different.
With both Malaysia and Singapore setting up funds to develop infrastructure and subsidise companies transitioning into the JS-SEZ, as well as a joint target of 100 projects in the SEZ.
We also covered a selection of Singaporean
Singapore's Market Horizon: Kicking Off 2025
In our first 2025 podcast, we discuss whether Singapore can maintain its market momentum in 2025.
Our Singapore economist, Brian Lee, shares his outlook for 2025, discussing expected growth drivers and why he forecasts resilient economic momentum for Singapore in the year ahead.
We also feature two of our analysts Krishna Guha and Hussaini Saifee who will each give insights of what trends and dr
Singapore’s Market Wonderland: A 2024 Festive Review
In this year's wrap-up of ASEAN Speaks we cover the key drivers that led to Singapore being the best performing market in Asia and how those drivers will impact next year.
We also feature three of our analysts Krishna Guha, Hussaini Saifee and Jarick Seet who will each give an overview of what key factors and trends drove their specific sectors this year. Covering REITs and Industrials, Telcos a
SPECIAL EDITION: US Insights with Wedbush
In today's special edition of ASEAN Speaks we start off with our SMIDs Analyst, Jarick Seet, giving us an insight into why SingPost deserves attention as the next top pick to release value despite S&P's recent move to place them on CreditWatch negative following the sale of its Australia business.
Next, we are joined by our special guest, Matt Bryson, Wedbush's Senior Enterprise Hardware Anal
ASEAN's Next Big Moves
As Asian shares decline for the second month due to Trump 2.0 policies and slow Chinese stimulus, there’s renewed hope in ASEAN markets. Our regional strategist, Anand Pathmakanthan, highlights why ASEAN is the place to watch, with Singapore, Malaysia, and Indonesia leading the charge.
Meanwhile, Jarick Seet discusses SingPost’s sale of its Australian assets—a move that’s the “worst-kept secret”
Singapore’s Market Shake-Up
Markets rebound as a data-packed week stirs volatility, with Singapore’s economy hitting an 11-quarter high alongside a surge in manufacturing numbers. What does this mean for a stronger SGD and key opportunities? Our Co-Head of Research, Dr. Chua Hak Bin, breaks it all down.
Meanwhile, GLC restructuring and asset monetisation are unlocking value, with SingPost leading the charge asset sales and
Shifting Sentiment and Strategic Rebounds
As inflationary concerns loom, Asia remains optimistic after Xi-Biden talks. Amidst this optimism, Grab Holdings and Sea Limited are making waves. Our telecom analyst, Hussaini Saifee, explores how these two standout companies are seizing growth opportunities in this evolving landscape.
Next, our Head of Research, Thilan Wickramasinghe, highlights how Sembcorp Industries is redefining its future w
Return of Trump
Trump’s comeback to the presidency has stirred up fresh waves of uncertainty. With inflation likely to rise, the Fed’s path to easing could face serious challenges. To break down what this means for the global and regional markets, our in-house Economist, Erica Tay, who’ll dive into the potential impacts and discuss whether China’s recent debt swap is a genuine stimulus move or more symbolic.
Mea
Singapore Telcos and SMIDs Show The Way
This week, our guest host, Jarick Seet, will take us through what we can expect from the Telco and SMIDs sector as we head off to the end of the year. He is first joined by Telco Analyst, Hussaini Saifee who has just reiterated his BUY call on Singtel (ST SP) explaining how its subsidiary, Simba, may the key to success. Additionally we will get to hear how its peer, Starhub (STH SP) might be affec
US Rate Curve and ASEAN Internet 3Q24 Preview
In this weeks ASEAN Speaks, our guest host with the golden voice, Seng Yeow, bring along our resident Credit Analyst, Winson Phoon to shed light on the US rate curve as we head off into the penultimate week of the Trump Vs. Harris election. Tune in as he gives us his take on what the outcomes might be should either of the presidential hopefuls win.
Next, Hussaini Saifee joins us to give a sneak p
S-REITs Shakeup; Return of the MAC
Third quarter results season kicks off this week, and all eyes are on S-REITs. With the current interest rate and FX environment, how might they impact these key players in the market? Krishna Guha comes in to provide us with the latest insights on the sector. Will we see the first signs of stabilisation, or will the volatility continue? Join us as we find out which REITs are worth watching closel
China's Stimulus Tease and Singapore Banks
Over the weekend, China's Ministry of Finance laid out fiscal measures to support the economy. However, no new fiscal stimulus quantum was given during the announcement. Despite the teaser, our economist, Erica Tay believes that these repeated hints that a large injection was undergoing approval would unlock existing fiscal resources that have a real impact. This would give a much needed assurance
Hidden Heroes in ASEAN Markets
This week in ASEAN speaks, we are joined by Kervin Sisayan following a 52-week high in the Philippine Market, with its central bank (BSP) hinting at a potential 50bps rate cut and a 250bps reserve requirement ratio (RRR) cut by the end of the month. BSP expects inflation to settle within the 2.0-2.8% range in Sep attributed to lower food prices and peso appreciation. Kervin believes that this shou
ASEAN Data Centre: Ride the multi-year data centre wave
In the ever growing field of the data center industry, we speak with Maybank’s TMT specialist Hussaini Saifee, who expects data centre demand in ASEAN to increase at 20% CAGR till 2028 with the total addressable market estimated at USD11b/yr. Structural drivers include: 1) Under penetration: ASEAN supply is 55-70% below that of US, CN, KR & JP; 2) AI: helps ASEAN companies in the global supply cha
Penang: Malaysia's High Tech Powerhouse
Wong Chew Hann, Head of Equity Research, Maybank Investment Bank, shares key highlights from the 2024 Invest ASEAN conference that put Penang at the forefront of dynamic transformation.
Dialing back on diesel subsidies
Suhaimi Ilias, Chief Economist, Maybank Investment Banking Group, gives an update on Malaysia’s fiscal reforms so far, with comments on the latest diesel subsidy cut.
Vietnam is a bright spot
Despite inflation creeping up, exports and industrial output see strong growth – Vietnam’s May economic data shows that hope shines bright for its Q2 GDP growth. Brian Lee, economist at Maybank Securities, shares his take on the numbers.
The Thai market is set for smiles
While year-to-date SET is down almost 5%, Chak Reungsinpinya, Head of Equity Research Thailand, Maybank Investment Banking Group, maintains year-end index target of 1,600 – a 17% upside from the index current level. He shares his note of confidence.
Charting the Japanese yen
Despite interventions, the JPY remains under pressure against the US dollar. What more can be done to strengthen the JPY and what’s the impact of a weak JPY on regional
currencies? Saktiandi Supaat, Head of FX Strategy, Maybank, explains why recent interventions haven’t worked their magic and what’s on the road ahead for the JPY.
China’s latest set of data tells a tale of fire and ice
With accelerated industrial production growth and at the same time, a fizzling of consumer spending, what lies ahead for the Asian dragon? As well, will introducing new property measures lift the sector? Erica Tay, economist at Maybank IBG, explains.
Will StarHub and M1 become one?
Maybank Securities’ analyst Hussaini Saifee says the merger could be a potential catalyst for growth for the telco sector in Singapore. He also gives his read on the earnings results from SEA and Grab.
All eyes on the Johor-Singapore Special Economic Zone
Chua Hak Bin, Regional Co-Head for Macro, Maybank Investment Banking Group, discusses how the Johor-Singapore Special Economic Zone will spur growth for both Johor and Singapore in areas such as connectivity, trade, labour, investments, and renewable energy transition.
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