Shows
ASEAN SpeaksASEAN Data Centre: Ride the multi-year data centre waveIn 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 chain; 3) ASEAN as a global DC hub: geopolitics, conducive upstream supply & favourable unit economics. Additionally, Hussaini believes the risk of over-supply is overhyped: build commitment is just 40% of announcements. This podcast also highlights key op...
2024-09-2835 min
ASEAN SpeaksASEAN Tourism Macro OutlookThe latest Maybank thematic report on ASEAN tourism showed an underwhelming recovery of China tourist arrivals in 2023. What happened, and will the story be different this year? Chua Hak Bin, Regional Co-Head, Macro Research at Maybank, gives his outlook.
2024-01-2303 min
ASEAN SpeaksHighlight: Malaysia’s Budget 2024 PreviewThis Highlight is on Maybank’s expectations of Malaysia Budget 2024. Winson Phoon gets the details from Suhaimi Ilias, our Group Chief Economist. For the full conversation with other analysts at Maybank, go to the latest Weekly Briefing episode on ASEAN Speaks.
2023-10-0207 min
ASEAN SpeaksHighlight: FOMC - Not Signaling End To Hike Cycle YetWhat is Maybank’s revised forecast for the Fed Funds Rate? Winson Phoon discusses with Dr Chua Hak Bin, our Co-Head of Macro. For the full conversation with other analysts at Maybank, go to the latest Weekly Briefing episode on ASEAN Speaks.
2023-09-2502 min
ASEAN SpeaksHighlight: Smiles For Thai BahtWhat is the outlook for the Thai Baht? Chua Hak Bin speaks with Saktiandi Supaat, Head of Forex Research at Maybank on his latest ASEAN Macro report. For the full conversation with other analysts at Maybank, go to the latest Weekly Briefing episode on ASEAN Speaks.
2023-09-1804 min
ASEAN SpeaksHighlight: Renewed Hopes In ThailandAfter months of political deadlock, a Prime Minister is finally chosen in Thailand. How well could markets rebound? Chak Reungsinpinya, Head of Research at Maybank Securities Thailand speaks with Chua Hak Bin.
For the full conversation with other analysts at Maybank, go to the latest Weekly Briefing episode on ASEAN Speaks.
2023-08-2803 min
ASEAN SpeaksChina’s Property Crisis - How Much Longer?It’s been a rocky time for the property sector in China, and the Politburo has elevated its risk as the top concern for the economy. Erica Tay, an economist at Maybank Investment Banking Group discusses the wider implications and another risk to watch out for.
Producer: Noelle Lim, Maybank IBG
2023-08-1112 min
ASEAN SpeaksHighlight: Gold To Strengthen When Fed CutsIn the Highlight of our Weekly Briefing, Saktiandi Supaat, our Head of Forex Research shares his findings on what may happen to currencies when the Fed cuts rates. To learn more, go to our ASEAN x Macro report, The Pivot Play and an Event Risk That Looms. And for the full conversation with other Maybank analysts, go to the latest Weekly Briefing episode on ASEAN Speaks.
2023-05-2903 min
ASEAN SpeaksHighlight: Thailand Elections 2023Here is the highlight from our Weekly Briefing. The election results in Thailand show that the Move Forward Party is leading, with Pheu Thai a close second so far. What are the implications for the economy and markets? Winson Phoon, Head of Fixed Income Research, speaks with Lee Ju Ye, our economist, and Chak Reungsinpinya, Head of Equity Research in Thailand. For the full conversation with other analysts, go to the latest Weekly Briefing episode on ASEAN Speaks.
Producer: Noelle Lim, Maybank IBG
2023-05-1505 min
ASEAN SpeaksWeekly Briefing: SG Technical Recession, China Roars, Chinese TouristsWe kick off our conversation if the US dollar will end its dominance by the end of this decade. We also make sense of the economic data that was released in China, Malaysia and Singapore, and beneficiaries of Chinese tourists visiting ASEAN.
00:21 - Roundup - Chua Hak Bin
03:20 - USD vs CNY dominance - Suhaimi Ilias
10:47 - MY GDP - Suhaimi Ilias
12:37 - China GDP - Brian Lee
16:31 - SG GDP - Lee Ju Ye
19:14 - Cambodia GDP - Brian Lee
21:23 - ASEAN tourism - S...
2023-04-1731 min
ASEAN SpeaksThe Social Circle EP4: The Power of OrganisationsIn this episode, we take a closer look at the ambitious goal of "Improving the lives of 1 million households across ASEAN by 2025," as seen through the lens of Maybank.
Chief Sustainability Officer Shahril Azuar Jimin expands on this goal as well as outlines Maybank’s mission of “Humanising Financial Services”. Speaking with our guest, is esteemed moderator and interviewer, Nadia Azmi.
Here’s what you will learn:
Maybank's mission to "Humanise Financial Services" has driven us to identify the needs of the communities in ASEAN. Through the goal of improving the lives of 1 million househol...
2023-04-1436 min
ASEAN SpeaksThe Social Circle EP3: The Power of CommunitiesIn this insightful episode, we explore the innovative concept of social enterprise; a model that combines the noble intention of doing good with the practicality of sustaining a living. Host Sam Yeow is joined by Kim Lim, the Co-Founder of Pichaeats which provides food delivery services with dishes cooked by refugees. We discuss the unique challenges and opportunities that social enterprises face, highlighting how they balance profit and purpose while advocating for the causes they support.
Here’s what you will learn:
Understanding the Social Enterprise model: We provide an in-depth look at this hybrid approach th...
2023-04-1427 min
ASEAN SpeaksThe Social Circle EP2: The Power of VoiceIn this thought-provoking episode, we delve into the world of social advocacy, moving beyond the traditional approach of providing handouts to the needy and disadvantaged. Host Sam Yeow is joined by our guest, Heidy Quah, who leads Refuge for the Refugees, a movement that campaigns for basic human rights such as education and healthcare for refugees. We'll hear from a passionate social advocate, exploring their focus, challenges, and how we as a society can navigate effective advocacy for those in need.
Here’s what you will learn:
Rethinking the approach to helping the disadvantaged: We discuss th...
2023-04-1423 min
ASEAN SpeaksThe Social Circle EP1: The Power of WillIn this uplifting episode, host Sam Yeow interviews two individuals who share their unique experiences and perspectives on acts of goodwill for the
community. We delve into the challenges, barriers, and motivations that drive them to make a difference, demonstrating that no matter your circumstances, you can make a positive impact in your own way.
Our first guest, Charis Ding, Co-Founder of MYReaders, shares her journey in empowering children through literacy and providing more opportunities for upcoming generations. We are then joined by Yu Ren Chong, Dep. Executive Director of WAO Malaysia who advocates for women’s ri...
2023-04-1424 min
ASEAN SpeaksWeekly Briefing: TH Election Tight Race; SG Manufacturing Drops; ASEAN Undervalued PicksLooking at the likely outcomes and implications as Thais vote at their General Elections on the 14th of May - what is the likelihood of Pheu Thai founded by former Prime Minister Thaksin Shinawatra coming into power? We also consider the potential depth of Singapore's recession as manufacturing drops more than expected in February. And as banks in the US and Europe continue to dominate headlines, what has been the impact on ASEAN markets, and what are the undervalued stocks?
00:29 - Roundup - Suhaimi Ilias
05:22 - SG macro - Chua Hak Bin
08:05...
2023-03-2731 min
ASEAN SpeaksWeekly Briefing: ID Monetary Policy, SVB Collapse, ASEAN ESG PerformanceWe look into Bank Negara Malaysia’s decision to keep the OPR unchanged at 2.75%, and our expectations of Bank Indonesia’s policy meeting on Thursday. We also assess the potential impact of the collapse of Silicon Valley Bank on Malaysia and Singapore banks. We issued a seminal report on sustainability and found that ASEAN companies under our coverage expanded their ESG adoption despite geopolitics and anti-ESG propaganda had hurt ESG flows and performance.
00:25 - Roundup - Winson Phoon
04:13 - MY OPR, inflation - Suhaimi Ilias
08:14 - PH inflation, interest rate - Zamros Dzulkifli
2023-03-1330 min
ASEAN SpeaksWeekly Briefing: Sustainable Bonds, VN Headwinds, China’s National People’s CongressAs latest data shows that inflation in the US remains elevated while China is focused on growth, our analysts dissect its implications on ASEAN economies and earnings. We also watch for China’s National People’s Congress this week, as well as headwinds slowing Vietnam’s GDP growth as a result of bond defaults.
00:26 – Roundup - Suhaimi Ilias
04:55 - ID interest rate - Lee Ju Ye
06:15 - ID earnings repatriation - Lee Ju Ye
08:04 - TH external trade - Lee Ju Ye
09:42 - VN GDP - Brian Lee
15:35...
2023-03-0634 min
ASEAN SpeaksWeekly Briefing: Peter To Paul Budget For MalaysiaOur analysts discuss Malaysia's retabled Budget 2023 and its implications on the economy, bonds and equities.
00:15 - Roundup - Chua Hak Bin
02:27 - MY Budget 2023 - Suhaimi Ilias
10:51 - MY bond markets - Winson Phoon
15:31 - MY equities - Anand Pathmakanthan
18:14 - ASEAN equities - Anand Pathmakanthan
19:22 - VN property bond defaults - Anand Pathmakanthan
21:21 - MY inflation - Zamros Dzulkifli
24:13 - SG inflation - Chua Hak Bin
Producer: Noelle Lim, Maybank IBG
2023-02-2724 min
ASEAN SpeaksWeekly Briefing: People-Friendly MY Budget, Robin Hood SG BudgetThis Friday, on the 24 February, Malaysia will be re-tabling its Budget 2023. We expect it will set the budget deficit to GDP ratio at -5% versus the original Budget at negative 5.5%. We also look at the impact of Singapore’s Budget that was released last week.
00:29 - Roundup - Winson Phoon
04:04 - MY Budget 2023 - Suhaimi Ilias
09:15 - SG Budget - Chua Hak Bin
13:54 - SG Budget on equities - Thilan Wickramasinghe
16:14 - SG exports - Lee Ju Ye
17:47 - TH GDP - Lee Ju Ye
19:15...
2023-02-2029 min
ASEAN SpeaksWeekly Briefing: New BOJ Governor, SG Bank Earnings And REITs, Penang DevelopersOur analysts dovetail into the effects of China’s re-opening and the impact on Singapore’s bank earnings to be released this week. We also discuss our first reports of the year on Singapore REITs and China’s inflation; revisit property developers in Penang; and consider the policy stance of Kazuo Ueda, expected to be the next governor of the Bank of Japan.
00:23 - Roundup - Chua Hak Bin
02:37 - MY GDP - Suhaimi Ilias
04:46 - MY employment - Suhaimi Ilias
07:21 - ASEAN strategy - Anand Pathmakanthan
10:21 - Kazuo Ueda a...
2023-02-1328 min
ASEAN SpeaksWeekly Briefing: Disinflation, Forex Strategy, Love At First Sight For SG Budget?At the FOMC meeting last week, the Fed hiked rate by 25bp, and recognised that the disinflationary process has started. Our analysts project what’s ahead for more hikes, implications on bonds and our forex strategy for ASEAN. Singapore will also be unveiling its Budget on 14 February - we examine how it will be a Valentine’s gift for Singaporeans.
00:29 - Roundup - Suhaimi Ilias
05:13 - US rates - Winson Phoon
07:07 - ASEAN bonds - Winson Phoon
07:23 - SG Budget - Chua Hak Bin
10:55 - ID inflation - Lee Ju Y...
2023-02-0729 min
ASEAN SpeaksWeekly Briefing: Resurgent Chinese Travel, US Debt Ceiling, MY Plantation Report CardOur analysts discuss the impact of China’s re-opening across ASEAN in terms of growth and inflation; what we need to watch as the US hits its debt ceiling, and structural issues of Malaysia’s oil palm sector.
00:21 - Roundup - Suhaimi Ilias
04:50 - MY banks - Desmond Ch’ng
06:58 - ID interest rate outlook - Lee Ju Ye
08:38 - TH interest rate outlook - Lee Ju Ye
09:40 - PH GDP - Zamros Dzulkifli
12:17 - SG GDP, inflation - Chua Hak Bin
16:26 - MY, ID bond m...
2023-01-3032 min
ASEAN SpeaksWeekly Briefing: Undervalued ASEAN Gems, EV PlaysWhile fading re-opening tailwinds and interest rate hikes will weigh on growth in 2023, balanced by China’s Covid easing, our analysts discuss undervalued beneficiaries in ASEAN, and Indonesia electric vehicle (EV) stocks to watch.
00:19 - Roundup - Chua Hak Bin
02:16 - ASEAN highlights - Anand Pathmakanthan
07:15 - Gloves - Wong Wei Sum
08:22 - TH picks, elections - Yuwanee Prommaporn
10:51 - TH banks - Jesada Techahusdin
13:19 - PH picks - Jacqui De Jesus
15:40 - PH consumer - Daphne Sze
18:25 - ID EV - Richard Su...
2023-01-1622 min
ASEAN SpeaksThe Investor: Indonesia Market StrategyThe Indonesian equity market was one of the best performing in Asia Pacific but may not be so in 2023 despite China’s re-opening and pre-election goodies. Jeffrosenberg Chen Lim, Head of Equity Research at Maybank Sekuritas explains.
Producer & Presenter: Noelle Lim, Maybank IBG
2023-01-1107 min
ASEAN SpeaksWeekly Briefing: Who’s The Fairest Of Them All?While ASEAN has been a defensive harbour for investors, the fortunes of individual markets would vary. Our analysts discuss supportive factors and potential headwinds.
00:14 - Roundup - Suhaimi Ilias
01:14 - SG growth - Chua Hak Bin
04:52 - ID, TH inflation - Lee Ju Ye
07:32 - PH inflation - Zamros Dzulkifli
09:32 - Credit outlook - Winson Phoon
13:34 - MY equities - Anand Pathmakanthan
15:32 - SG equities - Thilan Wickramasinghe
16:40 - ID equities - Jeff Lim
18:11 - VN equities - Hoang Huy
2023-01-0928 min
ASEAN SpeaksThe Investor: Leaping Or Slumbering Rabbit Year For Fengshui?Master Ken Koh, founder of the House of Fengshui in Singapore discusses the fengshui outlook for the markets and businesses in 2023 - the good and the bad.
Producer & Presenter: Noelle Lim, Maybank IBG
2023-01-0616 min
ASEAN SpeaksThe Investor: Positioning In A Year Of Two Halves And PermacrisisChan Han Chin, Portfolio Strategist at Maybank Investment Bank discusses the model portfolios that his team has created and how best investors should position themselves in a year of two halves (volatility followed by recovery) and the possible scenario of a continuing permacrisis (permanent crisis).
Presenter & Producer: Noelle Lim, Maybank IBG
2023-01-0513 min
ASEAN SpeaksWeekly Briefing: Transitioning, Gearing Up For 2023As the Federal Reserve and European Central Bank meet respectively this week to decide on rates, our analysts look at what’s in store for ASEAN inflation, markets and investment themes for 2023 including our top Malaysia and Singapore ESG stock picks.
00:17 - Roundup - Chua Hak Bin
02:20 - FOMC - 4 things - Suhaimi Ilias
04:02 - ECB expectations - Suhaimi Ilias
05:10 - TH inflation drop - Lee Ju Ye
06:30 - PH inflation up - Zamros Dzulkafli
09:09 - ASEAN inflation peak - Lee Ju Ye
11:05 - ASEAN st...
2022-12-1229 min
ASEAN SpeaksIn The MetaverseSoutheast Asia is expected to be ahead in the adoption of Web 3.0 and metaverse-related tools and technologies. We discuss the catalysts with Dhruv Vohra, who is the Managing Director of Meta (formerly known as Facebook) Business Group, Southeast Asia. For more info, check out Meta’s study with Bain & Co on Southeast Asia Digital Consumers here
Producer and presenter: Noelle Lim, Maybank IBG
2022-12-0520 min
ASEAN SpeaksWeekly Briefing: 2023 Global & ASEAN Economic OutlookOur analysts unpack their 2023 Year Ahead: Defensive Harbour report—forecasting a mild global recession with ASEAN-6 markets emerging as a defensive play, delivering yet again higher GDP growth than China.
00:15 - Roundup - Ong Seng Yeow
00:56 - Fed moves - Suhaimi Ilias
07:40 - ASEAN inflation - Chua Hak Bin
09:45 - ASEAN interest rate - Chua Hak Bin
11:12 - Bonds outlook - Se Tho Mun Yi
15:13 - ASEAN economic - Chua Hak Bin
18:18 - TH current account - Lee Ju Ye
21:31 - THB - Sa...
2022-12-0530 min
ASEAN SpeaksC-Suite Talks: Datuk Tengku Muhammad Taufik Tengku Kamadjaja Aziz, PetronasAppointed as President & Group CEO of Petronas in 2020, Datuk Tengku Muhammad Taufik Tengku Kamadjaja Aziz felt a huge sense of national responsibility and “amanah” coming into the job. One of the first things he did was to announce Petronas' ambition to reach net zero carbon emissions by 2050, the first oil and gas company in Southeast Asia to declare this commitment. He speaks with Dato’ Fad’l Mohamed, CEO of Maybank Investment Bank, on how he is making a difference steering Petronas towards a bigger cause and his thoughts about the outcomes of COP 27.
Producer: Noelle Lim, assisted by Shirl...
2022-12-0121 min
ASEAN SpeaksWeekly Briefing: A Look Into Bonds, ASEAN Equities And Currencies Into 2023Singapore’s final third quarter GDP growth came in lower than advance estimate due to a downgrade in manufacturing, mainly the electronics cluster. Meanwhile Thailand’s GDP growth of the same quarter accelerated to its fastest pace in five quarters, supported by rebound in tourism and private consumption. Finally, we turn to bonds, ASEAN equities and currencies heading into 2023.
00:29 - Roundup - Suhaimi Ilias
03:25 - SG GDP - Chua Hak Bin
05:55 - SG inflation - Hak Bin
06:33 - ID min wage, inflation - Lee Ju Ye
08:55 - ID monetary polic...
2022-11-2931 min
ASEAN SpeaksC-Suite Talks: Dato' Ami Moris, Maybank Investment Banking GroupDato’ Ami Moris, the outgoing CEO of Maybank Investment Banking Group shares her extraordinary journey of leading a regional investment bank, and her life experiences that shaped her values. As a prominent advocate of sustainability and diversity, equity and inclusion (DEI), Ami is also Chair of the 30% Club Malaysia. Dato’ Fad’l Mohamed, the CEO of Maybank Investment Bank speaks with her.
Producer: Noelle Lim, assisted by Shirley Ann Lau
2022-11-2719 min
ASEAN SpeaksWeekly Briefing: Malaysia On Tenterhooks; Early Signs Of Singapore RecessionMalaysia’s general elections ended in hung parliament with no majority winner, while Singapore’s non-oil exports contraction points to a recession in 2023. Tune in to the conversation.
00:20 - Roundup - Winson Phoon
04:28 - MY elections - Suhaimi Ilias
08:14 - MY markets - Anand Pathmakanthan
10:25 - SG non-oil exports - Chua Hak Bin
12:34 - ID GDP - Lee Ju Ye
16:23 - PH interest rate - Zamros Dzulkafli
18:47 - Fed rates - Suhaimi Ilias
22:16 - MY tourism, Chinese tourists - Samuel Yin
24:25 - Vo...
2022-11-2129 min
ASEAN SpeaksExploring Sustainable Values: EP4 - Driving Sustainable Impact through Islamic FinanceThe fourth episode of our series 'Exploring Sustainable Values' explores the future of sustainable impact and effective integration between ESG principles and Islamic Finance. Dato’ Rafique Merican, Group CEO of Islamic Banking, Maybank, talks about the future of sustainable Islamic Finance, the initiatives, and technologies to look forward to.
2022-11-1524 min
ASEAN SpeaksWeekly Briefing: Inflection Point For US Markets; Tight Race At Malaysia’s General ElectionsUS inflation data came in lower than expected. Our analysts discuss the broader trend, and if the US will slow rate hike. And as Malaysia goes to the polls this Saturday, we look into the impact on markets in this tight race.
00:22 - Roundup - Chua Hak Bin
04:21 - US bond yields - Winson Phoon
06:42 - ASEAN bonds - Winson
07:34 - USD inflection - Saktiandi Supaat
10:05 - MYR appreciation - Saktiandi
11:47 - MY GDP drivers - Suhaimi Ilias
14:42 - MY GE - Suhaimi
16:11...
2022-11-1430 min
ASEAN SpeaksWeekly Briefing: ASEAN Macro, SG Bank Earnings, TH Tourism FlourishingOur analysts unpack a slew of economic data in the region as well as earnings of Singapore banks with DBS Bank as our top pick.
00:15 - Roundup - Chua Hak Bin
03:59 - US interest rate - Suhaimi Ilias
05:38 - MY interest rate - Suhaimi
06:57 - ID inflation rate - Lee Ju Ye
08:33 - PH inflation rate - Zamros Dzulkafli
10:13 - TH foreign reserves - Ju Ye
12:39 - Cambodia economy - Brian Lee
13:57 - Myanmar, Laos economy - Brian
14:58 - Fed, USD...
2022-11-0724 min
ASEAN SpeaksWeekly Briefing: Dualism In SG, Future Rate Hike In VN, ASEAN DowngradesOur analysts review what’s going on in the region - will there be a stagflation in Singapore, can we anticipate more interest rate hikes in Vietnam following two jumbo ones, and how should we get more defensive in ASEAN as central banks further tighten.
00:24 - Roundup - Suhaimi Ilias
04:38 - SG stagflation? - Chua Hak Bin
09:20 - VN interest rate - Brian Lee
12:56 - TH outlook - Lee Ju Ye
15:06 - USD outlook - Saktiandi Supaat
20:51 - ASEAN downgrades - Anand Pathmakanthan
24:38 - ID re...
2022-10-3130 min
ASEAN SpeaksWeekly Briefing: What A Third Term For Xi And China's Re-Opening Mean For ASEAN?The Chinese Communist Party’s 20th National Congress came to a close on Sunday, and President Xi Jinping extended a rare third term as the Party’s leader. We discuss the economic outlook for China and its impact on ASEAN in the event of a re-opening, and if the USD has peaked.
00:26 - Roundup - Suhaimi Ilias
04:25 - China - Chua Hak Bin
11:28 - ID macro - Lee Ju Ye
14:43 - VN Dong, reserves, rates - Brian Lee
19:25 - USD view - Saktiandi Supaat
24:15 - Currency support - An...
2022-10-2534 min
ASEAN SpeaksWeekly Briefing: Cautious Bias Ahead Of Malaysia General ElectionsMalaysia’s upcoming General Elections will be the most exciting with multi cornered fights, and a 40% jump in new voters, mainly the young. Meanwhile Singapore avoided a technical recession but inflation risk remains elevated and another tightening is forecasted. Over at the best performing equity market in ASEAN, Indonesia, our analysts recommend to take profit now.
MY GE Scenario 1 win: UMNO-led BN but short of a simple majority of 112.
Scenario 2: UMNO-led BN secure better than simple majority.
Scenario 3: Anwar-led PH or in some form of a bigger Opposition alliance.
Scenario 4: Unchartered waters with a new coalition government.
00:26 - Roundup - Wi...
2022-10-1732 min
ASEAN SpeaksWeekly Briefing: Malaysia’s Budgeting - Like Dieting, Is HardOur analysts round up their thoughts on Malaysia’s Budget 2023 record spending of RM372 bil in view of the Prime Minister announcing a dissolution of Parliament and the general elections to be held within 60 days.
00:25 - Intro - Ong Seng Yeow
00:58 - USD support - Saktiandi Supaat
03:29 - Plaza Accord 2.0? - Andi
05:58 - MY Budget 2023 - Suhaimi Ilias
09:46 - Oil price, politics - Liaw Thong Jung
13:27 - MY fuel subsidies - Suhaimi
15:26 - MY Budget picks - Anand Pathmakanthan
21:53 - MY debt, ratings...
2022-10-1129 min
ASEAN SpeaksWeekly Briefing: Pounding Markets, Opportunities in Fixed Income, ID & PH Equities, MY ESG StocksAmid relentless selloff in the markets, our analysts discuss the opportunities in fixed income, Indonesian and Philippines equities, and “must haves” in a Malaysian ESG stock portfolio that offers low ESG risks balanced with core business diversity.
00:20: Roundup - Suhaimi Ilias
04:32 - SG recession - Chua Hak Bin
09:27 - TH interest rate - Lee Ju Ye
12:09 - TH elections - Ju Ye
14:16 - VN GDP - Brian Lee
16:41 - VN Dong - Brian
18:25 - Fixed income - Winson Phoon
22:35 - MY ESG stocks - Ana...
2022-10-0330 min
ASEAN SpeaksWeekly Briefing: Sleepless In US, Insomnia in ASEAN?Central banks in Indonesia, the Philippines and Vietnam have raised interest rates higher than expected to fight inflation and manage the currency. Our economists consider the impact on economic growth including a look ahead into Malaysia’s Budget 2023 and the possibility of a technical recession in Singapore while the Sing dollar remains a safe haven currency. We also review the uptick in Singapore’s medical tourism, and Malaysia’s new automotive roadmap.
00:33 - Roundup - Winson Phoon
03:45 - Fed hike - Suhaimi Ilias
05:36 - MY Budget 2023 - Suhaimi
12:25 - ID interest rate...
2022-09-2632 min
ASEAN SpeaksWeekly Briefing: Expected Reactions To FOMC’s Decision This WeekOur analysts assess how ASEAN markets would react to the Federal Open Market Committee’s (FOMC) huge decision on Wednesday if it raises the interest rate by 75 or 100 basis points.
00:20 - Roundup - Chua Hak Bin
03:13 - ID growth, inflation - Lee Ju Ye
06:17 - ASEAN markets - Anand Pathmakanthan
11:07 - ASEAN bond yields - Winson Phoon
15:25 - RMB - Saktiandi Supaat
18:35 - UK Budget, Pound - Saktiandi
20:50 - Palm oil prices - Ong Chee Ting
Producer: Noelle Lim, Maybank IBG
2022-09-1925 min
ASEAN SpeaksWeekly Briefing: MY Budget, China RMB, CCP, PH Conglos, VN Policy CatalystsHow many more interest rate hikes could we expect from Bank Negara Malaysia following the third hike last week? And what can we expect from Malaysia’s Budget 2023? We also unpack our ASEAN X report on China and the direction of the Renminbi (RMB) and which ASEAN currency is most sensitive to a RMB sell-off, and what the Chinese Communist Party might focus on at its Congress on the 16th of October.
00:37 - Roundup - Chua Hak Bin
03:02 - MY OPR - Suhaimi Ilias
05:41 - MY Budget - Suhaimi
08:12 - RMB - S...
2022-09-1225 min
ASEAN SpeaksWeekly Briefing: US Non-Farm Payrolls, Potential Currency Intervention By Central Banks, MY Banks, MY Foreign PicksOur analysts unpack the implications of US non-farm payrolls data, and major currency movements in Asia as well as the outlook on Malaysian banks, and follow the money of foreign investors.
00:22 - Roundup - Ong Seng Yeow
01:23 - US non-farm payroll, inflation - Suhaimi Ilias
04:56 - US interest rates - Winson Phoon
09:18 - MY, SG government bonds - Winson
10:42 - Yen, Euro, MYR, RMB - Saktiandi Supaat
18:32 - TH deficit - Lee Ju Ye
21:18 - PH economy, Peso - Zamros Dzulkafli
25:35 - PH...
2022-09-0531 min
ASEAN SpeaksWeekly Briefing: ASEAN Decoupling From US Recession, SG Technical Recession, GE15 In MY, Grab EarningsAs the Fed warned that it is likely to impose large interest rate hikes in coming months to tame inflation, our analysts discuss the extent of ASEAN decoupling from a potential US recession, a likely technical recession in Singapore in 3Q, and when Malaysia might hold its general elections now that the tabling of Budget 2023 has been brought forward to 7th October.
00:18 - Roundup - Winson Phoon
03:31 - ASEAN decoupling - Chua Hak Bin
09:41 - SG technical recession - Hak Bin
11:19 - ID interest rate - Lee Ju Ye
15:39...
2022-08-2930 min
ASEAN SpeaksWeekly Briefing: CNY Bonds, TH GDP, PH Interest Rates, ASEAN Strategy, TH Telco, VN BanksAs sentiment on Chinese property stocks lifted last week, we discuss our outlook for bonds. We also unpack our special reports on Philippines remittances, ASEAN equities strategy, Thailand’s telco spectrum, and our forecast on Vietnamese banks.
00:22 - Roundup - Chua Hak Bin
02:17 - CNY bonds, property - Winson Phoon
06:33 - TH GDP, THB - Lee Ju Ye
10:02 - PH interest rates, remittances - Zamros Dzulkafli
14:52 - ASEAN strategy - Anand Pathmakanthan
17:36 - TH telco - Wasu Mattanapotchanart
21:43 - VN banks - Quan Trong Thanh...
2022-08-2226 min
ASEAN SpeaksWeekly Briefing: US Markets Up, What Holds For ASEAN This Week? And Check Out Our ASEAN ESG ReportFollowing the US markets’ spectacular performance on Friday where the S&P closed at 4,280, our analysts at Maybank IBG highlight what we need to look out for in ASEAN this week. We also peek into our brand new ASEAN ESG Alpha report for top ESG picks.
00:20 - Roundup - Ong Seng Yeow
01:59 - MY GDP - Suhaimi Ilias
07:35 - GE stocks - Anand Pathmakanthan
09:43 - Yield curve flattening - Winson Phoon
11:46 - Bond picks - See Tho Mun Yi
13:15 - TH interest rate - Lee Ju Ye...
2022-08-1524 min
ASEAN SpeaksWeekly Briefing: Mixed Performance Within ASEAN - Picking WinnersOur analysts at Maybank IBG unpack Singapore’s bank earnings, stock call upgrades for ASEAN, and consider if Vietnam’s slowing exports are a warning sign for the rest of Asia, and how much more legs will the ASEAN bond rally have, and should investors subscribe to Singapore’s 50 year sovereign green bond.
00:21 - Roundup - Chua Hak Bin
03:02 - SG banks - Thilan Wickramasinghe
06:07 - ASEAN bonds rally - Winson Phoon
10:15 - PH BSP moves - Suhaimi Ilias
13:27 - ID GDP - Lee Ju Yen
17:27 - VN exp...
2022-08-0825 min
ASEAN SpeaksC-Suite Talks: Tan Sri Shahril Ridza RidzuanTan Sri Shahril Ridza Ridzuan, Chairman of Axiata, and former Managing Director of Khazanah Nasional and Chief Executive Officer of Employees Provident Fund (EPF) discusses leadership, the real value of a digital bank license, nurturing innovation and picking the right talent, and the path of transformation in Malaysia. Dato’ Fad’l Mohamed, CEO of Maybank Investment Bank speaks with the self-confessed science geek and gamer on C-Suite Talks.
Shahril’s top three recommended books:
1) The First Law Trilogy, by Joe Abercrombie (fiction)
2) Alexander Hamilton, by Ron Chernow (history)
3) The Immortal Life of Hen...
2022-08-0527 min
ASEAN SpeaksWeekly Briefing: The Resilience Of Banks And REITs In A Slower Growth EnvironmentAs the US enters a technical recession but with strong jobs data, how will this affect the Fed’s decision on interest rates in September? And in a slower growth environment, how resilient are banks and REITs?
00:21 - Roundup - Ong Seng Yeow
01:15 - FOMC expectations - Chua Hak Bin
06:36 - Bond outlook - Winson Phoon
10:35 - TH interest rate - Lee Ju Ye
11:54 - SGD/MYR - Saktiandi Supaat
14:20 - Chinese manufacturing - Saktiandi
15:41 - MY market bottoming - Chan Han Chin
17:50 - M...
2022-08-0130 min
ASEAN SpeaksWeekly Briefing: Balancing Inflation Fears & Recession RisksMaybank analysts discuss MAS’ off-cycle policy move to contain inflation and how it’ll affect economic growth in Singapore, and also the direction of currencies, and other market moving updates during a recession-inflation.
00:35 - Roundup - Suhaimi Ilias
04:02 - SG tightens - Chua Hak Bin
07:35 - PH tightens - Zamros Dzulkafli
11:14 - FOMC 26/7 - Winson Phoon
15:05 - ID macro - Lee Ju Ye
19:00 - Trading Recession-Inflation - Saktiandi Supaat
24:20 - PH Consumer - Daphne Sze
26:20 - PH REITs - Miguel Sevidal
28:04 - CP...
2022-07-1832 min
ASEAN SpeaksWeekly Briefing: Taming Of Inflation; Rising Digital Tiger Vietnam; Indonesia Coal PlayOur analysts discuss how many more interest rate hikes are in store for Malaysia, the Philippines and Thailand to tame inflation. They also look into Vietnam’s rise as Asia’s next digital tiger and stocks that play into this theme. And with the situation in Russia-Ukraine, what is the outlook for coal prices?
00:36 - Roundup - Winson Phoon
04:29 - MY OPR, GDP - Suhaimi Ilias
10:03 - PH CPI, interest rate - Zamros Dzulkafli
13:00 - TH CPI, interest rate - Lee Ju Ye
16:00 - FX strategy - Saktiandi Supaat
2022-07-1233 min
ASEAN SpeaksModel Portfolio: The Calvary Isn’t Here Yet, This Is What You Can DoIn the current bearish market, what type of stocks and portfolio would lead? Has the US markets priced in all possible rate hikes? What is the likelihood of a recession? We ask Chan Han Chin, portfolio strategist at Maybank Investment Banking Group (Maybank IBG).
Presenter & Producer: Noelle Lim, Maybank IBG
2022-06-3010 min
ASEAN SpeaksWeekly Briefing: Go Defensive & Rotate To Quality Stocks In ASEANAs inflation accelerates in some key markets of ASEAN, our analysts at Maybank Investment Banking Group (Maybank IBG) discuss their broader implications on banking asset quality, policy rate moves, and ASEAN equities strategy.
00:29 - Roundup - Winson Phoon
04:07 - MY inflation - Suhaimi Ilias
07:56 - PH inflation - Suhaimi Ilias
09:06 - SG inflation - Lee Ju Ye
13:00 - ID interest rate - Lee Ju Ye
15:22 - MY banks - Desmond Ch’ng
17:58 - PH banks - Rachelleen Rodriquez
20:56 - ASEAN equities - Anand Pa...
2022-06-2733 min
ASEAN SpeaksWeekly Briefing: Fed’s Record Rate Hike; ASEAN Opportunities From Global Food Crisis; Laos’ Triple Whammy; S-REIT Winners & LosersThe Fed hiked interest rate by 75bps, the largest increase at a meeting since 1994. What can we expect in the remaining four FOMC meetings this year? As ASEAN are largely food exporters, what are the opportunities and risks as a result of food inflation? And what’s the likelihood of Laos defaulting on its debts?
00:31 - Roundup - Winson Phoon
04:20 - Fed ups 75bps - Suhaimi Ilias
10:51 - Food inflation, crisis - Chua Hak Bin
18:25 - ID interest rate - Lee Ju Ye
20:50 - Laos to default? - Brian Le...
2022-06-2035 min
ASEAN SpeaksInvest ASEAN 2022 | Framing A Future - SustainabilityWe highlight some key conversations that took place at Invest ASEAN 2022, starting from understanding the biggest issues that will affect us in the next five years to thriving in an uncertain environment. We see sustainability as the way forward, supported by inclusive and equitable growth. The podcast features:
00:29 - Rodger Baker, SVP of Strategic Analysis, Stratfor
05:00 - Tensie Whelan, Clinical Professor of Business & Society, NYU Stern Center for Sustainable Business
12:50 - Peter Grauer, Chairman, Bloomberg & Founding Chair, US 30% Club
20:06 - Dr Soraphol Tulayasathien, Head of Sustainable Market Development, The Stock Exchange...
2022-06-1629 min
ASEAN SpeaksWeekly Briefing: ASEAN Still To Outperform; MY 2Q GDP forecast; MY Banking Earnings; TH Inflation Drivers; TH Revenge Tourism; VN Market LiquidityOur economists do a deep dive on interest rate expectations; how ASEAN remains the cleanest dirty shirt as developed markets struggle; while it is land of smiles again for Thai tourism; and if it's time to return to Vietnam's markets.
00:32 - Roundup - Chua Hak Bin
04:17 - MY 2Q GDP forecast - Suhaimi Ilias
09:48 - ID interest rate forecast - Lee Ju Ye
11:39 - TH interest rate - Lee Ju Ye
13:57 - ASEAN cleanest dirty shirt - Anand Pathmakanthan
17:50 - MY banking earnings - Desmond Ch’ng...
2022-06-1326 min
ASEAN SpeaksASEAN Property Trends: Singapore, the Philippines, VietnamAnalysts based in Singapore, Manila and Ho Chi Minh City—vastly different economies—discuss their outlook for the rest of the year due to headwinds, emerging trends such as shophouses in Singapore, data centres in the Philippines, and satellite townships in Vietnam, and segments that are resilient in the real estate sector.
00:20 - Leonard Tay, Head of Research, Knight Frank Singapore
14:05 - Sevidal Miguel, Analyst, Maybank IBG, Philippines
21:45 - Tyler Nguyen, Analyst, Maybank IBG, Vietnam
Presenter & Producer: Noelle Lim, Maybank Investment Banking Group (Maybank IBG)
2022-06-0731 min
ASEAN SpeaksWeekly Briefing: ASEAN’s ResilienceMaybank’s analysts interpret the slew of economic data that came out from Singapore, Bank of Indonesia’s decision to hold interest rate, Malaysia’s inflation that remains relatively low, Vietnam’s economic data, and the broad based recovery of hoteliers in Thailand.
00:22 - Roundup - Suhaimi Ilias
06:11 - SG GDP, inflation - Chua Hak Bin
11:05 - ID interest rate - Lee Ju Ye
14:35 - MY consumer prices - Zamros Dzulkifli
18:28 - VN economy - Brian Lee
23:08 - US treasury yield - Winson Phoon
27:15 - TH hotel...
2022-05-3029 min
ASEAN SpeaksWeekly Briefing: ID Palm Oil Exports Ban; MY Stock Winners & Losers And Potential Corporate Bond Downgrades; TH Properties; PH Properties & Mobility; Regional Utilities ESGPreparing you for the week ahead with a slew of updates and analysis.
00:28 - Roundup - Chua Hak Bin
05:56 - MY exports, RM - Suhaimi Ilias
11:00 - ID GDP - Lee Ju Ye
13:26 - ID palm oil exports ban - Ong Chee Ting
15:54 - MY stocks - Anand Pathmakanthan
20:36 - Potential MY bond downgrades - See Tho Mun Yi
23:42 - TH property - Vanida Geisler
27:15 - PH property & mobility - Miguel Sevidal
28:54 - Regional utilities, ESG - Jigar Shah *
...
2022-04-2536 min
ASEAN SpeaksC-Suite Talks: Dato’ Sri Abdul Farid Alias, Maybank GroupWith candour and humour, in his final interview as Maybank Group President & CEO, Dato’ Sri Abdul Farid Alias recounts pivotal moments at the bank, and discusses topics close to his heart: leadership, culture, digitalisation and sustainability, adding life lessons from his humble background.
Dato’ Fad’l Mohamed, CEO of Maybank Investment Bank speaks to him in the inaugural episode of our C-Suite Talks series.
Producer: Noelle Lim, assisted by Shirley Ann Lau
2022-04-2126 min
ASEAN SpeaksMalaysia: Sunny Prospects For SolarIn a series of conversations, we discuss the game changing opportunities, notably for solar industry players, as presented by Malaysia’s Renewable Energy (RE) Roadmap. If things go according to plan, RE contribution could increase from 23% of the total energy mix to 31% in 2025, and 40% in 2035.
Apart from its environmental benefits, RE increases energy diversity and lowers energy security risk, which is often overlooked until the Russia-Ukraine conflict. We explore how ASEAN could strategically increase its own energy security via an ASEAN power grid linking the Indochina region to Malaysia, and down to Singapore.
00:48 - RE Ro...
2022-04-1833 min
ASEAN SpeaksVietnam: Not Immune To Headwinds AheadMaybank has cut Vietnam’s GDP forecast for 2022 to 5.8% from 6.7% due to the impact of the Russia-Ukraine war and supply chain disruptions from lockdowns in Shanghai. What are the specific challenges investors should take note of although recovery is expected to remain on track in Vietnam? Brian Lee, our Economist, drills down the details.
Presenter & Producer: Noelle Lim
2022-04-1218 min
ASEAN SpeaksWeekly Briefing: SG 1Q 2022 GDP; ASEAN Inflation Review; Thai Equities; CPO OutlookSingapore’s Q1 2022 GDP will be released this week. We cover Maybank’s expectations of growth and interest rate policy responses as inflation grows the fastest in this decade. Also, top of today’s research is ASEAN X Macro thematic report on inflation drivers and risks, and our model portfolio strategy for Thailand.
00:26 - Roundup - Winson Phoon
04:17 - SG 1Q GDP - Chua Hak Bin
07:40 - SGD if re-centering - Saktiandi Supaat
10:51 - ASEAN inflation drivers - Suhaimi Ilias
15:01 - PH inflation - Zamros Dzulkifli
17:17 - TH inf...
2022-04-1131 min
ASEAN SpeaksWeekly Briefing: Protracted War & No Peace Between Russia And Ukraine - Impact on ASEANRussia’s full scale invasion of Ukraine has already cost more than 200 civilian lives and triggered global condemnation. Maybank's analysts discuss the implications.
00:24 - Round-up - Chua Hak Bin
07:03 - Impact on inflation - Suhaimi Ilias
13:47 - Lessons from past crisis - Saktiandi Supaat
17:31 - Shrinking demand for MY Coal IPP Bonds - Winson Phoon
22:48 - SG bank highlights - Thilan Wickramasinghe
26:21 - Maybank’s portfolio update - Chan Han Chin
30:47 - New tax measures on PH properties - Miguel Sevidal
Producer: Noelle Lim
2022-02-2833 min
ASEAN SpeaksHibiscus Petroleum: Keep The Bike UprightRiding on surging oil prices, Maybank has a strong buy call on Hibiscus Petroleum, Malaysia’s first listed SPAC (Special Purpose Acquisition Company) that has now transitioned to become a full-fledged oil and gas company. Dr Kenneth Pereira, the Managing Director discusses the reason for Hibiscus’ longevity, and how it will continue to grow in a more ESG-oriented environment when bankers are becoming more discerning about lending.
Producer & Presenter: Noelle Lim
2022-02-2436 min
ASEAN SpeaksWeekly Briefing: SG Budget 2022 Winners & Losers; In The Mood For ASEAN Markets; Indonesia Trade & Retail; CPO Price Forecast Raised; PH Inflation On Earnings; Gaming OnOn Friday, Singapore released its Budget 2022 that includes a slew of higher taxes to redistribute wealth while improving resilience through healthcare spending and green projects. Meanwhile foreign buying has returned to ASEAN markets. What sectors might continue to outperform and underperform as interest rates and inflation increase? Maybank's research teams across the region discuss.
00:34 - Round-up - Suhaimi Ilias
05:53 - Singapore Budget 2022 - Chua Hak Bin
14:07 - Singapore markets - Thilan Wickramasinghe
15:56 - ASEAN markets - Anand Pathmakanthan
20:13 - Indonesia trade - Lee Ju Ye
22:26 - Indonesia...
2022-02-2132 min
ASEAN SpeaksExpect Vietnam Stock Market To Be A Star in 2022The VN Index has risen close to 32% over the last 12 months buoyed by peak retail trading. Maybank expects the index will hit 1,800. What will continue to drive the Vietnamese markets in the longer-term? What are the downside risks, top investment picks, and the government’s plans to ease foreign investments? Quan Trong Thanh, our Head of Research in Vietnam discusses.
Producer & Presenter: Noelle Lim
2022-01-2617 min
ASEAN SpeaksWhere To Invest When Inflation And Interest Rates Are RisingMaybank IBG has created 24 model portfolios to guide retail investors in picking stocks that match their risk-return profile and market outlook. We speak to portfolio strategists, Ong Seng Yeow and Chan Han Chin on how these portfolios are constructed, and how investors can position themselves in this market cycle in 2022.
Presenter & Producer: Noelle Lim
2022-01-1220 min
ASEAN SpeaksNew China-Laos Belt & Road Railway Benefits Thai LogisticsAfter years of intense negotiation, the railway connecting Kunming in China to Vientiane, the capital city of Laos is finally completed making it vastly faster and easier for goods to be moved between both countries. This is part of China’s Belt & Road ambition that might eventually see a linkage through Thailand and into Malaysia and Singapore. Thailand-listed logistics players Kerry Express, Wice Logistics, and Sonic Interfreight are set to be beneficiaries.
Commentator: Maria Lapiz, Head of Institutional Research, Thailand
Presenter & Producer: Noelle Lim
Note: Maybank Securities (Thailand) may be involved in some de...
2021-12-2316 min
ASEAN SpeaksSawadee Ka Thailand TourismMaybank upgrades the tourism sector in Thailand to Neutral on the back of share price corrections and the expectation that the Omicron impact is short-lived. How are major players like Airports of Thailand (AOT), and Minor International (MINT) with a portfolio of over 500 hotels, recalibrating to survive the pandemic, and why is 2024 the magical year we expect normalcy to return. Listen to the conversation with our analyst.
Analyst: Yuwanee Prommaporn
Presenter: Noelle Lim
2021-12-1508 min
ASEAN SpeaksMaybank Model Portfolio Updates, Exposure To Vietnam Trade Boom00.50 - Singapore: What would support growth to 2022
02:10 - Maybank’s Model Portfolio changes
05:40 - Spotlight - Vietnam: Another boom year for Gemadept
Economist & Analysts: Chua Hak Bin, Chan Han Chin, Le Nguyen Nhat Chuyen
Produced and presented by Noelle Lim
2021-11-2509 min
ASEAN SpeaksAviation & Healthcare00:30 - Malaysia: Is a price tag of $1 billion for IHH’s China business realistic?
04.02 - Malaysia: Is the worst over for AirAsia?
05:20 - Thailand: Why Chularat Hospital is Maybank’s pick now?
Analysts: Shafiq Kadir, Samuel Yin, Yuwanee Prommaporn
Presented and produced by Noelle Lim
2021-11-2308 min
ASEAN SpeaksIs Inflation Transitory or Here to Stay01:30 - The signposts to watch if inflation is transitory
07:00 - BoT holds policy rate and its view on energy markets
08:40 - Philippines: ASEAN’s fastest growing market in 2022
11:50 - Philippines equity strategy
14:28 - Is COP26 the biggest finance greenwash event in history?
18:50 - Maybank’s CPO price upgrade
2021-11-1522 min
ASEAN SpeaksInterest Rate Cycle & Property SectorDespite the Fed’s assurance that higher prices are merely transitory, the uncertainty of its duration leads to higher volatility in the market. Maybank downgrades the Thai property sector; ASEAN Speaks panelists dissect the drivers and explain how property developers are resorting to technology to sustain sales. Stay tuned for these highlights and more.
2021-07-1922 min
ASEAN SpeaksMalaysia's EMCO Disrupts Labour SupplyUS 10 year treasury yields continue to compress; Maybank's fixed income team addresses the factors that are driving compression. With political headwinds rising in Malaysia and EMCO impacting labour supply, which industries are least vulnerable? Thailand's hospitality sandbox kicks off in Phuket but reopening plans hang in the balance following the discovery of COVID-19 cases from inbound tourists.
2021-07-1224 min
ASEAN SpeaksMalaysia Announces New RM150b Economic Package as EMCO Kicks InAmidst a strong US jobs market, low US treasury yields and VIX, ASEAN equity markets’ performance was relatively weak last week, especially Malaysia. Maybank’s strategists focus on the Delta variant’s impact on the timeline to recovery and where smart money is flowing.
2021-07-0523 min
ASEAN SpeaksFOMC, Currencies and Singapore REITsAs Fed shift resets markets, Maybank Kim Eng’s FX strategists discuss about the sensitivity of ASEAN currencies. ASEAN equity markets mostly ended down last week except for Malaysia and Vietnam. Our Singapore REITs and Malaysia property research desks discuss where value can be found.
2021-06-2123 min
ASEAN SpeaksKL Kepong's Cash Offer for IJM's stake in IJM PlantationsKL Kepong has launched a RM1.5b cash offer to buy IJM's 56% stake in IJM Plantations. Is the deal accretive and are there other noteworthy acquisition targets left within the sector? Thailand's stock market has performed well despite sluggish economic data and concerns over rising covid cases. Maria Lapiz, Maybank's Thai Research Head shares her insights and her top 3 picks for the remainder of 2021.
2021-06-1409 min
ASEAN SpeaksPair Trade Opportunity Opening Up between Singapore and Thailand Property StocksInflation trends in Singapore are increasingly visible from the properties segment. The spectre of property cooling measures may lead to risks of premature tightening by regulators. Thailand’s property measures on the other hand are more supportive, which underpins Maybank Kim Eng’s positive view of the sector. Philippines stock market is the worst performing ASEAN market, but deep value is emerging.
2021-04-2624 min
ASEAN SpeaksBitcoins' Correlation with Equity Prices; Looking for Laggards in Thailand; & Bottom Fishing Singapore REITsWith bitcoins hogging so much limelight, Maybank's FX team joins the debate if Bitcoin and equity price moves will continue to remain positively correlated and the drivers of this relationship. Thailand’s equity market valuations are lofty, which suggests that the market is ripe for profit taking. We see tactical rotations into laggards such as Petrochemicals, Autos, Consumer Finance & banks. Singapore REITs are not impervious to rising rates. How low will valuations go and where does value lie?
2021-03-2225 min
ASEAN SpeaksRising inflation & impact on bond markets, commodities, and cyclicals like banks and high growth tech stocksThe lunar year of the ox is said to bring success in many ways for all zodiac signs. It is no coincidence that markets are bearing witness to firmer bond yields, which we interpret as investor expectations of a strong economic recovery. As of last Fri, the 10y UST benchmark yield stood at 1.344%, up from 1.157% just 5 trading sessions earlier. Maybank’s strategists will focus on the implications that inflation might have on the ASEAN bond markets, commodity markets, and cyclical sectors like banks and high growth tech stocks.
2021-02-2228 min
ASEAN SpeaksSingapore Budget 2021Singapore Budget 2021 was announced on Feb 16 by Deputy Prime Minister Heng Swee Keat. With an overall budget deficit projected at 2.2% of GDP, this estimate is much lower than the consensus median range of 4%. What are the risks of a fiscal cliff and implications on MAS’ FX policy? Are there material changes to Maybank Kim Eng’s investment outlook for the Singapore market?
2021-02-1807 min
ASEAN SpeaksASEAN FX - Where value lies | ASEAN Semicon sector - Time to switch out? | Thai Healthcare - Has risk reward improved?As US Democrats push for US$1.9tn in stimulus, the prospects of easy monetary and fiscal policies continue to underpin ebullient conditions for global equity markets. Central banks in Malaysia and Indonesia left policy rates unchanged last week, we get a pulse check from Maybank’s economics team on the likelihood of further rate cuts and which Asian currencies are the most undervalued. On growth themes, is it premature to rotate out of Singapore and Malaysia’s semiconductor equipment sector? Finally, the Thai Healthcare sector has been hit as hard as the tourism industry. Has the sector’s risk reward...
2021-01-2521 min
ASEAN SpeaksMalaysia MCO 2.0 | CPO Outlook | Value Plays in Philippines | Thailand Renewables & ESG InvestingAs we ring in the new year, Maybank Kim Eng’s research team digs deep to sift through the best themes on our clients’ minds. Malaysia has just implemented movement control order 2.0 so we ask our strategists if the economic cost of MCO 2.0 will be greater than the last one. Commodity prices have also been in focus and like crude oil, palm oil prices have rallied since 3Q 2020. Will tight supplies keep CPO prices elevated and when will the cycle reverse? In the Philippines, it was one of the hardest hit economies last year but as fortunes reverse, we now...
2021-01-1823 min
ASEAN SpeaksAC Health - Crouching Tiger, Hidden DragonAC Health was established in 2015 as a wholly owned subsidiary of Ayala Corp (AC PH). Although the entity contributes less than an estimated 5% of AC’s RNAV, AC Health is a hidden gem in AC’s portfolio as it is positioned in the fast growing healthcare sector with exposure in drugstores, medicine delivery, clinics, hospitals and tele-health services. In this episode of Captains Speak, Maybank Kim Eng hosts AC Health’s Chief Digital Officer Christian Besler and its Strategy & External Affairs associate, Dr Nikki Bautista, on the company’s business strategy.
2021-01-1341 min
ASEAN SpeaksReflation & market implications | Thailand Strategy | Steepening yield curve & SREITsFor our first podcast of 2021, Maybank Kim Eng’s strategists will assess the drivers behind the current reflationary cycle and whether ASEAN central banks may be tempted to bring forward interest rate normalisation. As governments prepare to stockpile COVID-19 vaccines and execute on immunisation programs, COVID cases are back on the rise. How will these developments impact brittle economies like Thailand and its stock market? Will the strong Baht complicate its recovery? Lastly, given the steepening of the 10year treasury yield curve, do Singapore REITs still offer value? Tune in to find out.
2021-01-1122 min
ASEAN SpeaksASEAN Market Spotlight - Singapore & Thailand's Manufacturing & Export Activity | ASEAN Banks | Indonesia Property & Mining SectorsWith Singapore’s manufacturing data still weak and the country being a proxy to global trade and demand, what does this say about the trajectory of recovery? Thailand’s export numbers are also similarly weak and the strength of the Thai Baht doesn’t help. This week, our equity and macro strategists will give their perspectives on these key developments, and what it means for different asset classes. We will also give a run down of Maybank Kim Eng's top calls for ASEAN banks as well as the Indonesian Property & Mining sectors.
2020-11-3027 min
ASEAN SpeaksMarkets Spotlight: Malaysia 2021 Budget & construction sector | Bank Indonesia rate cut | Technology sector upgrade | RCEP & FXOur specialists will speak on Malaysia’s 2021 Budget and how the construction sector is faring in this climate. We will also discuss about Bank Indonesia's latest rate cut and also why Maybank Kim Eng's technology analysts are overweight tech stocks in Singapore and Malaysia. Finally, we find out which countries are the biggest winners from the RCEP trade agreement and the implications for the FX market.
2020-11-2328 min
ASEAN SpeaksASEAN Speaks with Maybank Kim Eng ResearchWelcome to the ASEAN Speaks’ podcast. This week, we will be speaking with Maybank Kim Eng’s Chief economist, Suhaimi Ilias, to get the lay-of-the land on key macro and policy trends. With our market strategists, Suhaimi will then assess if the positive market vibes over the last 1-2 weeks signal a silver lining in the skies for corporate earnings recovery in Malaysia, and how this sentiment may influence US treasury and ASEAN government bond yields.
2020-11-1623 min
ASEAN SpeaksASEAN Speaks with Maybank Kim Eng's StrategistsToday’s conversation is with Maybank Kim Eng’s strategists on several major events and their impact on Asia’s capital markets. Topics include the implications of Joe Biden’s presidential election win and the USD; Malaysia’s 2021 budget and the read through on the country’s equities and fixed income markets; and lastly, whether the bounce in Singapore bank shares is a foreshadow of more positive developments to come.
2020-11-0927 minASEAN SpeaksASEAN capital markets update with Maybank Kim Eng ResearchWelcome to the ASEAN Speaks podcast. Today, the conversations will feature Maybank Kim Eng Research where our specialists will speak on four important themes: 1) a preview of Malaysia’s budget; 2) the industrial sectors where the V-shaped recovery is most evident in ASEAN; and 3) implications for the plantation and energy sectors if Biden wins the US presidential election.
2020-11-0221 minASEAN SpeaksOur Impact, Our Future | Maybank's Path to SustainabilityThe goal of developing sustainable business practices is to preserve the long-term viability of People, Planet and Profits. This podcast interview is with Datuk Abdul Farid Alias (Maybank's Group President & Chief Executive Officer), Dato' Mohamed Rafique Merican (Group Chief Executive Officer, Maybank Islamic), and Ami Moris (Chief Executive Officer, Maybank Kim Eng Group).
2020-10-2212 min
ASEAN SpeaksWill the Pandemic Derail China's Belt & Road Plans for ASEAN | Maybank Captains Speak Series featuring Mukhtar Hussain, Head of BRI Initiative for Asia Pacific and Chairman of HSBC Singapore PLCStricken by the COVID-19 shutdown, China is now among the fastest to recover. The burning issue is: What happens to all of China's Belt and Road Initiative (BRI) projects in ASEAN countries, many of which have closed their borders to contain the pandemic?
From new ports and hydropower projects to railroads criss- crossing Asia, China’s massive infrastructure projects under the BRI have left awe and controversy in their wake.
Find out what’s next for the BRI at our Captains Speak session with Mukhtar Hussain, Head of Belt and Road Initiative for Asia Pacific at H...
2020-10-1346 min
ASEAN SpeaksTim Daniels on SM Investments' Outlook & Strategy in Mitigating COVID-19 RisksSM Investments is one of Philippines' largest conglomerates with interests in consumer retail, property development and banking. Tim Daniels speaks with Maybank Kim Eng about his company’s business performance, strategy and sustainability initiatives.
2020-10-0633 min
ASEAN SpeaksTop Glove's Executive Director Lim Cheong Guan on Social Sustainability | Maybank Captains Speak SeriesThis is a recording with Mr Lim Cheong Guan, Executive Director of Finance and Head of the Sustainability Steering Group at Top Glove - the world’s largest manufacturer of surgical gloves. The conversations centred around Top Glove’s sustainability policies and the latest developments between the US Customs and Border Protection (US CBP) and the group.
2020-09-1116 min
ASEAN SpeaksTG Limcaoco on Ayala Corp's Sustainability Ethos | CFO, CRO, CSO, Ayala CorporationThe Covid-19 pandemic, dubbed by investors as the 21st century’s first “sustainability” crisis, is not only reshaping how businesses operate but could prove to be a major turning point for ESG investing. Find out how Ayala Corp, the Philippines’ oldest conglomerate, navigates and overcomes these unprecedented times by leveraging on its 360° Sustainability Framework. TG Limcaoco, CFO, Chief Risk Officer and Chief Sustainability Officer of Ayala Corp discusses all these and more in this episode of Maybank's Captains Speak series.
2020-09-0445 min
ASEAN SpeaksTan Sri Abdul Wahid Omar on Bursa's Strategy | Chairman, Bursa MalaysiaMaybank Kim Eng’s Captains Speak series features thought leaders from market regulators and corporate sectors. In episode 1, our conversation with Bursa Malaysia’s Chairman will focus on Bursa’s strategy in staying competitive and engaging capital market participants .
2020-08-2131 min