ASEAN Speaks

ตอน

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  Domestic strength, regional opportunities 21.09.2026 18นาที

  This week, our Host, Thilan Wickramasinghe opens to a broadly positive risk backdrop, with a "very successful" US-China meeting ahead of next week's Trump-Xi summit lifting Asian equities and Wall Street futures. Against this backdrop, the team hunts for structural winners in Singapore and the region.The show leads with our REITs Analyst Miaomiao Liu, fresh back from visiting Sasseur REIT's China outlets, covering the differentiated Liu (flagship, premium-skewed) and Bishan (mass-market) assets, the stock's 11% pullback despite outperforming the FTSE ST REIT Index by nearly 30%, and three emerging positives: trading-down-not-out consumer behaviour, a fast-growing VIP omni-channel base, and one of the sector's strongest balance sheets.Next up is our Economist Brian Lee, who unpacks August's NODX surge — nominal growth of 46% YoY, the strongest pace in nearly 40 years — driven by AI-related server and semiconductor demand, alongside accelerating loan growth pushing up domestic rates, a 3-month SORA forecast rising to 1.6% by end-2026, and his call for MAS to hold policy steady at the October meeting.In corporate action, Thilan runs through our Telcos Analyst Husseini's BUY on Grab, unpacking the US$1.5bn Atomi acquisition, its potential US$200-220m EBITDA contribution by 2028, and a raised 2028 adjusted EBITDA target of US$1.7bn, alongside our new initiation on ISF Group, a Malaysian water-infrastructure play riding the data centre boom, rated BUY with a RM0.98 target price and roughly 33% core profit CAGR through 2028.Wishing you a profitable trading week ahead!
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  ASEAN Risk/Reward 14.09.2026 19นาที

  This week, our Host, Thilan Wickramasinghe opens to mounting AI and geopolitical risk, with a slew of AI founders warning on the need to slow model development stoking fears over AI spending, while intensifying Middle East tensions push oil another leg higher. Against this backdrop, the team hunts for risk-reward across ASEAN.The show leads with our Strategist Anand's latest ASEAN strategy, where he stays selective despite broadly positive 2Q26 GDP surprises, keeping Singapore and Malaysia OVERWEIGHT, upgrading the Philippines to NEUTRAL alongside Indonesia, Thailand and Vietnam, and flagging financials, energy security and Super El Niño as cross-border themes.Next up, our Banking & Finance Analyst, Faiq Asad, joins to unpack brightening prospects for Indonesian banks, addressing strong July loan growth of 13.6% YoY, system liquidity as BI securities yields moderate, NIM pressure, and his top picks for investors looking to add exposure now.Moreover, our Technology Analyst, Jarick Seet, discusses Frencken's SGD100m placement and near-18% share pullback, alongside Marco Polo Marine's sizable SGD139m RTO of Fuji Offset Plate Manufacturing, maintaining his BUY with 86% upside and outlining the key catalysts ahead.Finally, our Healthcare Analyst, Eric Ong, examines Singapore's living sector, covering Centurion's Johor worker-accommodation acquisition and its accretion to the Group, plus Coliwoo's new Changi co-living property and expansion outlook.Wishing you a profitable trading week ahead!
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  Hormuz Heat, Fed Fears & Keppel's New Story 07.09.2026 18นาที

  This week, our Host, Thilan Wickramasinghe opens to rising geopolitical and inflation risk, with US-Iran attacks in the Straits of Hormuz prompting Goldman to flag possible USD120 oil, alongside a stronger US jobs print stoking Fed rate hike odds. Against this backdrop, the team hunts for structural winners in Singapore.The show leads with our Bank's Analyst Desmond Ch'ng's roundup of Malaysian banks post-results, covering 1H26's pressure points, the 2027 outlook, and his top picks.Next up is our new initiation on Keppel Corp, where our REITs and Industrials Analylst, Krishna, argues it's no longer the conglomerate investors grew up with. He rates it BUY, citing its asset-light shift toward asset management, broad AI/data centre infrastructure exposure, planned divestments, and dividends rising from 42 to 49 cents by FY28. Execution risk remains the key watch item.In the terms of tech, our analyst Jarick discusses two small caps: Addvalue, where a new USD5m order and a US government-linked partnership underpin his BUY despite a 35% one-month rally, and IsoTeam, addressing FY26 misses, project delays, the stalled drone-painting catalyst, and whether the stock offers value now.Finally, our Telcos Analyst Hussaini Saifee examines Foodpanda-Grab dynamics, arguing the real question is who ends up owning Foodpanda, not whether it survives — pointing to Singapore's two-player market as proof of its strategic value. He outlines three buyer scenarios (Uber, ShopeeFood, Meituan), notes the main risk sits in Grab's Deliveries segment rather than its sturdier Mobility business, flags currency and Uber-stake overhangs, but keeps a BUY given resilient growth and a ~33% YTD share price decline.Wishing you a profitable trading week ahead!
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  Godzilla El Niño: Trading the Heat 31.08.2026 22นาที

  In this episode, host Thilan Wickramasinghe previews a cautious start to markets, with Asian sentiment weighed down by hawkish weekend comments from Fed Chair Kevin Warsh that have lifted bets on a rate hike next month, alongside fresh Middle East tensions after new US strikes on Iran. Singapore bucks the trend, however, with the STI in the green; softer manufacturing numbers mask underlying strength, as the AI complex and domestic construction spending keep momentum going, a trend increasingly visible in corporate earnings.Meanwhile, our telecom analyst, Hussaini, reports back from SingTel's investor corporate day last week, coming away more convinced in his BUY rating, and explains what surprised him and why he sees this as the right entry point for investors.In addition, REITs analyst Krishna wraps up the June-quarter results season for Singapore REITs, highlighting the sector's key earnings trends and the team's top stock picks for the quarter.Lastly, our Head of Regional Equity Research, Anand Pathmakanthan, unveils a new regional investment theme built around a forecast "Godzilla" El Niño, with over 80% odds of a Strong to Very Strong event by 4Q26 threatening water security, food inflation, and energy security across ASEAN. His actionable basket spans plantations (Genting Plantations, Sarawak Oil Palms), water infrastructure (Gamuda, EngTex), power and utilities (Mega First, CK Power, Maynilad), food and beverage names (Olam, Universal Robina, Mayora Indah, Muangthai Capital, Osotspa), and defensive retailers like Sheng Siong and Puregold.Wishing you a profitable trading week ahead!
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  Macro Tailwinds, Plantations and Large Cap Outlooks 24.08.2026 21นาที

  In this episode, host Thilan Wickramasinghe previews a pivotal week for markets, with investors watching Fed Chair Kevin Warsh's Jackson Hole remarks for clues on rates, elevated oil prices, multi-decade-high bond yields, and Nvidia's results for signs the AI rally can extend. At home, Singapore's macro readings stay strong, with the construction pipeline getting a further boost from the Prime Minister's National Day Rally speech.Meanwhile, plantation analyst Chee Ting Ong reviews the CPO price rally, noting an uneven El Niño impact: rainfall deficits south of the equator threaten 2027 output more than Malaysia's, keeping prices volatile into year-end before trending higher early next year. He keeps BUY calls on First Resources and Bumitama Agri, and flags Sarawak Oil Palms and Genting Plantations as his top regional picks, the latter also benefiting from its Johor land bank.Economist Brian of Maybank Research unpacks Singapore's NODX, up 24.2% in July on electronics and AI-linked demand, prompting an upgrade to the 2026 forecast to 18%. He plays down blanket-tariff risk from the US transshipment crackdown, seeing it as an opportunity for Singapore, and highlights the NDP's $62,000 child support package and major land-reclamation plans as reinforcing a multi-year construction boom.Thilan makes the case for SATS despite its 15% share-price drop, pointing to 11% revenue growth, resilient cargo volumes, and margin pressure he views as cyclical rather than structural, maintaining BUY with a SGD5.09 target.REITs analyst Krishna covers CLI's stronger-than-expected first half, driven by lower costs and a tax reversal, and looks ahead to SGD7–9 billion in value-unlocking opportunities and an upcoming Investor Relations Day as catalysts, keeping the BUY call intact.The Chart Guy also flags fresh trading buy ideas on CSC Global and City Developments.Have a profitable trading week!
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  Strong Macro Drives Earning Boost 17.08.2026 19นาที

  In this episode, host Thilan Wickramasinghe discusses soft US economic data, a weaker US dollar and Maybank Research’s upgraded Singapore growth outlook. Singapore’s 2026 GDP growth forecast has been raised to 5.2%, supported by AI manufacturing, electronics and precision engineering. This growth is also feeding through to corporate earnings.Krishna reviews the industrial sector’s mixed first-half performance. ST Engineering continues to benefit from global defence spending, dual-use technologies and its digital business. Sembcorp Industries has been upgraded to BUY on expectations of a second-half earnings recovery, contributions from its Australian acquisition and additional generation capacity.The episode also examines AEM and UMS, where AI-related semiconductor spending is translating into stronger revenue, margins and earnings. AEM is further along its customer ramp-up, while UMS is investing in capacity to support future demand.Hussaini Saifee discusses Olam’s weaker-than-expected results and the resilience of its core OFI business. Lower interest costs, better capital efficiency and further asset divestments support his continued BUY call.Miaomiao Liu joins to discuss her initiation of coverage on Info-Tech Systems with a BUY call. She highlights its core HR management platform, regional expansion and growing accounting, CRM and AI training businesses. Its net cash position also provides room for higher dividends or share buybacks. Key risks include its reliance on government subsidies and weaker training demand after SkillsFuture credits expire.The Chart Guy also shares fresh trading ideas on ISDN Holdings and Nordic Group.Stay tuned!
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  Singapore Rallies Amid Global Tensions 11.08.2026 20นาที

  In this episode, host Thilan Wickramasinghe returns after the National Day long weekend to discuss rising US-Iran tensions, safe-haven flows into Singapore and the outlook for local markets. He reviews the Singapore banks’ 2Q results, highlighting the growing contribution from wealth management and trading as lower rates weigh on net interest income, and explains why OCBC remains the team’s top pick ahead of DBS and UOB.Miaomiao Liu joins to discuss JustCo’s latest results, noting resilient occupancy, strong revenue growth and expanding margins despite the stock’s weakness since its IPO. She explains why the improving operating metrics, network expansion and strong balance sheet support her continued BUY call.Hussaini Saifee discusses his upgrade of Yangzijiang Shipbuilding to BUY, pointing to a stronger-than-expected shipbuilding cycle, renewed demand for larger container ships, resilient newbuild pricing and healthy margins. The episode also looks at SGX, where stronger derivatives activity, recovering Singapore equities, a growing IPO pipeline and operating leverage support further upside, alongside fresh trading ideas from the Chart Guy on MoneyMax Financial and AEM.Stay tuned!
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  Domestic Focus Amid Results Season 03.08.2026 12นาที

  In this episode, our host Thilan Wickramasinghe opens with sentiment across markets stabilising somewhat, as oil prices fall and treasuries rise following news that fresh US-Iran talks would begin today. Here in Singapore, the STI trades in the red, weighed down by weaker banks ahead of results later this week. With the local results season unfolding, the focus turns to domestic stocks, starting with the S-REITs sector.He speaks with Krishna on the S-REITs results season so far, discussing the key standouts observed as results roll in, how debt metrics – a persistent concern for the sector over recent quarters – are evolving, and the key changes to stock calls made so far and the reasoning behind them.We then turn to stock specifics with Hussaini, who has spent the past week meeting institutional investors in Singapore. He discusses the key questions and concerns surrounding SingTel, which has given up around 3% this year, the building investor interest in Olam amid its strong share price performance and expectations ahead of its upcoming results, and finally Seatrium, where he explains the thinking behind trimming the target price to SGD2.85 from SGD3.10 following recent results.
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  CXMT IPO Ignites Asia Market Momentum 27.07.2026 14นาที

  In this episode, our host, Seng Yeow, opens with one of the biggest market events in Asia this week – the blockbuster IPO of Chinese DRAM maker, CXMT. Following its explosive Shanghai debut, he speaks with Hong Kong Strategist, Ben Ho, on why the listing could set the tone for regional technology stocks, how CXMT compares with global memory leaders and what its rapid rise means for the outlook of China's semiconductor industry.We then turn to the upcoming FOMC meeting, where Head of Credit Research, Winson Phoon, explains why the Federal Reserve is expected to leave interest rates unchanged despite improving inflation and softer labour market data. He discusses whether credit markets have become too complacent, what investors should watch from the Fed's communication and how the interest rate outlook could affect Asian credit and broader financial markets.
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  From Chips to REITs: Finding Value in a Divergent Market 20.07.2026 21นาที

  In this episode, our host, Seng Yeow, discusses the contradiction at the heart of last week's markets: strong TSMC earnings met with a sharp sell-off in semiconductor stocks, even as the S&P 500 broadened with record highs in financials and transports. He examines what this divergence signals about the AI semiconductor trade and the wider economy.We begin with our Hong Kong strategist, Ben Ho, who unpacks the upcoming CXMT IPO on Shanghai's Star Market. He explains why the listing represents both the beginning of China's semiconductor capital market and quite possibly the peak of the current memory cycle, weighing the structural case for China's DRAM ambitions against the classic boom-bust risks of the industry, while also assessing how rising AI inference demand and Moonshot's Kimi K3 model could reshape the memory outlook.Finally, Krishna Guha, our REITs specialist, joins to discuss how Singapore REITs can still create value even as rate cut expectations fade, and where he sees the best balance of yield, growth and valuation across the sector today.
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  Uncertainty is the upside 06.07.2026 15นาที

  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 Programme (EQDP), and accelerating enterprise AI adoption could support earnings upgrades and drive stronger market performance in the second half. Thilan also highlights the key risks to watch, including weak IPO sentiment, while sharing Maybank's preferred sectors and top stock picks, as well as details of the upcoming Engineering the Future second-half market outlook event.The episode also features Analyst Hussaini, who discusses Maybank's latest research on Physical AI and why it could become the next major growth driver for the telecommunications sector. He explains how AI-powered robots, autonomous vehicles and smart factories will create demand for ultra-low latency, high-reliability networks, opening up new monetisation opportunities through AI training traffic, machine coordination and premium network services. Hussaini also identifies the key beneficiaries across Asia, highlighting Singtel as ASEAN's leading beneficiary and China's major telecom operators as well positioned to benefit as industrial AI and machine networking continue to scale.
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  Looking Beyond the AI Bubble 29.06.2026 21นาที

  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 domestic fundamentals.We begin with Head of Macro Economics, Chua Hak Bin, who explains why Maybank has upgraded Singapore's 2026 GDP forecast and shares his outlook on inflation, monetary policy and the key risks facing the economy in the second half of the year.Next, our Analyst, Hussaini Saifee, discusses Singtel's latest capital recycling initiatives and why the stock remains a BUY despite recent weakness. He also highlights how AI, data centres and disciplined capital management continue to support the group's long-term growth outlook.We then turn to Thilan Wickramasinghe, who explains why OUE REIT's divestment of Crowne Plaza Changi Airport strengthens its balance sheet, enhances financial flexibility and supports continued upside despite near-term revenue dilution.Finally, Thilan examine Malaysia's banking sector ahead of a potential General Election, discussing why macro fundamentals remain more important than election timing and highlighting Maybank's preferred banking picks as investors position for the next phase of the cycle.-Edited by Ibrahim H
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  From Fed Shifts to AI Bets: Navigating the Next Market Regime 22.06.2026 11นาที

  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 following recent developments at the US Federal Reserve. He examines whether investors are underestimating the potential structural changes that could emerge under the influence of former Fed Governor Kevin Warsh, and assesses whether Asian credit duration remains attractive as regional central banks are forced to maintain tighter monetary policy than domestic economic conditions may warrant.Next, turning to the palm oil sector, our Plantations Analyst, Ong Chee Ting focuses on Indonesian producers following a prolonged period of underperformance driven by export restrictions and policy uncertainty. He explains why political risks may now be more than fully priced in, underpinning his recent upgrade of First Resources, and discusses the outlook for BUMI amid evolving government policies.Stay Tuned!Edited by Victoria Zhou
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  From Hormuz to the World Cup: Finding Market Winners 15.06.2026 22นาที

  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 growth and resilient domestic fundamentals.We begin with SGX, where Thilan explains why Maybank is raising its target price and maintaining a BUY call. He discusses how safe-haven inflows, market reforms and corporate restructuring activity are driving higher trading volumes, stronger derivatives activity and a structural improvement in market liquidity.Next, our Analyst, Xuan Hao Toh, shares his views on Singapore Investment and Finance following recent meetings with management. He discusses the company’s growth outlook, AI integration strategy and why he reiterates a BUY call on the stock. Thilan then turns to the World Cup, examining how Singapore equities have historically performed during tournament years and highlighting 10 stocks that could benefit from increased travel, hospitality, consumer spending and financial activity. He also shares insights from Maybank’s proprietary AI model on the tournament favourite.Finally, Head of Client Engagement, Alex Furber, joins the show to discuss the sharp moves in oil and gold prices following developments in the Middle East. He explains how traders can position for volatility and introduces new opportunities available through Maybank’s CFD platform.
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  Between China and the US, Who Really is Winning the AI Race 15.06.2026 58นาที

  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 different strategy on AI?​Between the West or China, who is capturing more value?​How should investors assess the Chinese AI landscape?Timestamps00:00 ----- Introduction01:15 ----- Is China or the US winning and what defines a winner in the current AI race?04:39 ----- Understanding the profitability gap analogy between Apple iOS vs. Google in the AI space05:17 ----- The importance of token economics and how it is increasing value output for China12:38 ----- US will be very protective of their proprietary models13:53 ----- The Nvidia CUDA ecosystem monopoly explained18:17 ----- Huawei Ascend shifts the denominator in the current advanced chip export control system22:35 ----- Can China decouple enough that sanctions lose its effectiveness over time?26:41 ----- Understanding China’s AI verticals37:39 ----- What is the ultimate value capture?40:43 ----- Alibaba: Conglomerate discount will continue to hold them back42:22 ----- Tencent: AI as a feature44:18 ----- Baidu: Can Apollo put Baidu back into the AI competition?45:46 ----- BOSS Zhipin: A macro read on hiring trends49:19 ----- What are the strategies of Chinese AI labs?#ai #uschina #deepseek #alibaba #tencent #baidu #chinatech #aimodel #tokeneconomics #aistrategy
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  Looking Closer to Home: ASEAN Opportunities in a Volatile World 08.06.2026 23นาที

  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 Research, Anand Pathmakanthan, who shares his latest ASEAN strategy. He explains why he is OVERWEIGHT on Singapore and Malaysia, UNDERWEIGHT on the Philippines, and discusses opportunities emerging across Indonesia and Thailand. The conversation also highlights key investment themes and conviction stock ideas across the region.Next, we turn to our Economist, Brian Lee, who examines Singapore’s recent macroeconomic strength, including April’s manufacturing growth surge and resilient retail sales data. He also discusses the outlook for growth, inflation and MAS policy for the remainder of the year.Finally, our Analyst, Miaomiao Liu, introduces a new BUY initiation on Elite UK REIT. She discusses the REIT’s attractive dividend yield, defensive characteristics, potential value-unlocking opportunities and the key risks investors should monitor, including GBP and interest rate exposure.
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  Singapore’s AI and Oil Momentum: Key Stock Opportunities 25.05.2026 19นาที

  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 drivers of the domestic market.We begin with our Analyst, Shaina Mahtani, joins the show to discuss Centurion’s stronger-than-expected 1Q results, the outlook for earnings growth and why the stock continues to stand out despite expectations for some moderation in FY26 earnings growth, supporting SMIDs Analyst, Eric’s BUY view on the stock.Thilan then highlights Technology and SMIDs Analyst Jarick’s continued positive outlook on Frencken following its 1Q results, with the BUY call supported by expectations of a stronger 2H recovery as semiconductor orders ramp up. He notes improving demand from key customers, potential upside from new DUV and EUV product introductions, and better earnings quality as the revenue mix shifts toward higher-margin semiconductor activity.He also discusses ST Engineering’s strong start to the year, with revenue growth across all three segments, margin expansion and a record order book providing strong earnings visibility. Commercial Aerospace remains a key growth driver, while Defence and Public Security continues to provide resilience amid elevated geopolitical uncertainty, supporting REITs Analyst Krishna’s BUY view on the stock.Finally, our Regional Head of TMT Research, Hussaini Saifee, who breaks down the surprise collapse of the Simba-M1 consolidation and what it means for the competitive landscape in Singapore’s telco sector. He also explains why Singtel is increasingly emerging as a diversified AI and infrastructure play despite recent share price weakness, while sharing his latest views on StarHub.
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  Holding Strong: Sea Ltd's Earnings, Safe Haven Flows and Singapore Airlines 18.05.2026 28นาที

  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 implications for SGD interest rates and regional equity markets.We begin with our Regional Thematic Macroeconomist, Chua Hak Bin, who discusses the broader market backdrop, including signs of safe haven inflows across regional assets, the durability of those flows and whether foreign investor appetite currently appears stronger in bonds or equities. He also outlines what these dynamics could mean for Singapore interest rates and portfolio positioning over the coming quarters.Next, we turn to our Telcos and Internet Analyst, Hussaini Saifee, who breaks down Sea Ltd’s stronger-than-expected earnings performance, which drove the company’s biggest share price rally in nine months. He shares his observations across Shopee, Garena and Monee, highlighting improving monetisation trends, user engagement and fintech expansion. Finally, our Analyst, Eric Ong, discusses the latest developments surrounding Singapore Airlines and the aviation sector. He examines whether travel demand remains resilient, the outlook for jet fuel supply and pricing stability, and the key risks tied to SIA’s continued investment in Air India despite ongoing losses at the carrier. Finally, we close with a special pre-recorded video segment from our SMIDs and Technology Analyst, Jarick Seet, who will share more about AEM Holdings and UMS Integration.
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  Stronger Than Expected: OCBC, Singapore Tech and Market Catalysts 11.05.2026 19นาที

  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 contributions from wealth management, trading income and AI-driven productivity gains.We begin with our SMIDs and Technology Analyst, Jarick Seet, who explains why improving expectations across the Singapore technology sector continue supporting upside for selected names despite recent share price strength. He discusses Maybank’s higher target prices for Frencken and Venture following recent developments, before sharing what could further catalyse Addvalue Technologies.Thilan then discusses Maybank’s upgrade of OCBC Bank to BUY, highlighting stronger non-interest income growth, accelerating wealth inflows and improving execution under the bank’s “Next Frontier” strategy. He also reviews the broader trends shaping Singapore banks this earnings season, including resilience in asset quality, stronger capital markets activity and growing AI deployment across banking platforms.Finally, our Analyst, Xuan Hao Toh, shares key takeaways from Maybank’s recent corporate day, including management commentary from AEM and construction-related names Ever Glory and Tiong Woon, before we close with fresh technical ideas from our Chart Guy.
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  Markets Rebound: Commodities, DBS and New BUY Calls 04.05.2026 15นาที

  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 Maybank’s new BUY initiation on Olam Group and explains why the market may be underappreciating the company’s transformation and long-term value. He also discusses Grab following Indonesia’s surprise move to cap ride-hailing commissions and why he continues to maintain a BUY call on the stock.We then turn to DBS, where strong 1Q26 results reinforced confidence in earnings resilience, wealth management growth and capital return visibility. Finally, we discuss our upgrade on Bumrungrad Hospital to BUY, as improving Middle East patient flows and resilient demand support a more constructive outlook for the Thai healthcare leader.