ASEAN Speaks

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 sellers and consumers and how that would reflect on both Grab and Sea and disucsses teh competitive landscape in Brazil, how that affects Sea and Grab’s recent convertible note issuance.We also go through why Jarick still highlights his buy on Frencken amidst announcements of their expanding Singapore capacity.Edited by Xuan Hao, Dion, Bruce, Abdullah

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 brings us on an in-depth take through the ASEAN region where he believes many equity oppoportunities can be found as the US dollar softens. Find out which of the ASEAN countries feature the highest OVERWEIGHT recommendation along with Anand's top picksLast but not least, we will also look at our top stock pick of week, Capital A, Air Asia's parent company and why now is the best time to BUY.

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 data and how it's slowing growth is expected due to uncertainties reiterating his neutral view on the sector.Brian talks about Singapore's manufacturing and how it might impact his GDP forecasts, he also discusses his views on the moves MAS are making on the SGD.Thilan also summarises why our analyst in Malaysia, Natasha Ariza, is calling a big buy on one of Asia's largest private hospital groups, IHH Healthcare.Edited by Xuan Hao, Abdullah, Bruce

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 structural tailwinds.Eric Ong reviews LHN Ltd's H1 figures and whther the company will be able to sustain this momentum moving forwards.Finally, Hussaini discusses Singtel's strong quarter with a focus on management's plan to increase shareholder returns. He also speaks on the current competitive landscape for ASEAN internet stocks.Edited by Bruce, Dion, Abdullah, Xuan Hao

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 Global Ltd in light of US policy changes and pessimistic on AEM despite increasing trade sentiment.Analyst, Samuel Yin weighs in on Genting Singapore’s outlook following its inline quarter.Edited by Xuan Hao, Dion, Bruce, Abdullah

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 our TMT analyst goes through Grab's strong first quarter earnings and his take on management's guidance upgrade.On to the consumer sector, Wilmar reported an inline 1Q and an increasing demand in China. Our host Thilan goes through why he believes Wilmar is a resilient stock in this trade war battle.Jumping across to Thailand a new initiation on Thai Life Insurance was recently published. Trading at 0.75x price to value, Thilan goes through why we believe it has a 30% upside.Edited by Xuan Hao, Dion, Bruce

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.Hussaini also comes along having published a preview on Sea Limited and Grab Holdings highlighting their relatively shielded position from tariff uncertainty and explaining his bear case sensitivity analysis in case the tariff war escalates.Edited by Xuan Hao, Dion, Bruce

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 believes the sector is our main defensive pick as well as highlights some of his top picks. On the other side of the causeway our analyst in KL highlights Malaysia REITs, sharing her views on several catalysts and risks as well as her top 3 picks in that sector.Hussaini once again comes back, reiterating his belief on Singtel as a top pick even in this period of tariff uncertainty. Highlighting why it has outperformed ASEAN peers and the STI year-to-date.

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 Analyst Jarick Seet, our host, Thilan unpacks the risk facing Venture Corpotation and also highlights our call on Grab Holdings.Edited by Xuan Hao, Dion, Bruce.

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 retaliatory measures could shape the road ahead.Zooming in on Singapore, Thilan discusses why the STI’s sharp drop could still present buying opportunities, and highlights key names in our Trump Tariff Winners portfolio.Our Head of Sustainability Research, Jigar Shah, introduces our latest ESG portfolio for Singapore, explaining how companies with strong sustainability practices are proving more resilient amid market volatility.Edited by Xuan Hao, Dion, Bruce