ASEAN Speaks

In 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. 

A tentative agreement has been reached between the Republicans and Democrats that will help avoid a debt default. Over in ASEAN, we review a slew of indicators - inflation and interest rate expectations - and how selected sectors are doing. On currencies, we analyse why the Ringgit has been weakening against the US dollar. Also based on past US interest rate cycles, how will the US dollar do when...

Here is the highlight from today’s Weekly Briefing. Non-oil domestic exports or NODX extended its decline in April as exports to China contracted sharply, offsetting the rebound to the US and Europe. What is the probability of a recession in Singapore? Suhaimi Ilias speaks with Chua Hak Bin. For the full conversation with other analysts, go to the latest Weekly Briefing episode on ASEAN Speaks.

While the US debates on raising its debt ceiling, we discuss our projections for Thailand post-elections, ASEAN equities as investors stay on the sidelines, China’s economy and the Renminbi, and the effects on palm oil output if El Nino arrives. 00:22 - Roundup - Suhaimi Ilias  06:44 - SG NDOX - Chua Hak Bin 09:31 - TH GDP - Lee Ju Ye 12:04 - TH markets - Chak Reungsinpinya 14:59 - TH retail - Sut...

Here 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...

Bringing you the latest highlights about ASEAN - economic data in China, Malaysia and the Philippines; Singapore bank earnings; Thailand’s election results; and the impact of geo-economic fragmentation as President Joe Biden signs an executive order this week to further limit tech investments in China.  00:32 - Roundup - Winson Phoon 03:57 - TH elections - Lee Ju Ye 07:17 - TH markets - Chak Reung...

In the highlight of our Weekly Briefing, we discuss what markets are pricing in, and data to look out for this week that is more important than the CPI. Chua Hak Bin, Co-Head of Macro speaks with Winson Phoon, Head of Fixed Income Research. For the full conversation with other analysts, go to this week's episode on Weekly Briefing.

A range of issues from the Fed and Bank Negara Malaysias’ move to raise interest rates by 25 bps, as well as our revisions to major currencies outlook, and our ASEAN including Singapore REITs and Vietnam strategy. 00:22 - Roundup - Chua Hak Bin 02:08 - Fed policy rate - Suhaimi Ilias 05:14 - Fed fund futures - Winson Phoon 08:24 - MY OPR - Suhaimi Ilias 11:19 - MY GDP - Suhaimi Ilias 12:28 - ID GD...

The highlight from our Weekly Briefing is the looming US debt ceiling crisis. Over the weekend, Janet Yellen had warned that the US Treasury could run out of cash by 1st of June. Chua Hak Bin, Co-Head of Macro discusses with Saktiandi Supaat, Head of Forex Research on the possible scenarios ahead. For the full conversation with other analysts, go to the latest Weekly Briefing episode on ASEAN Spea...

Over the weekend, JP Morgan announced that it will acquire First Republic Bank. And Janet Yellen said that the US Treasury could run out of cash by 1st of June and will have to raise the debt ceiling. We expect the process to be prolonged due to political differences, and expect market choppiness. We also review if the dust has settled for AT1s following Credit Suisse’s write-off last month. 00:31...

The highlight from our Weekly Briefing is whether the US dollar would end its dominance by the end of this decade, and the emerging beneficiary as central banks re-balance their currencies portfolio. Chua Hak Bin, Co-Head of Macro, speaks to Suhaimi Ilias, Group Chief Economist. For the full conversation with other analysts, go to the latest Weekly Briefing episode on ASEAN Speaks.

We 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...

In 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. H...

In 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,...

In 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 advocat...

In 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 MYRead...

From our Weekly Briefing, we highlight our ASEAN+ note and outlook on the KLCI. Host: Winson Phoon, Head of Fixed Income Research Guest: Anand Pathmakanthan, Head of Regional Equity Research For the full conversation with other analysts, go to the Weekly Briefing episode on ASEAN Speaks.

Our analysts across ASEAN examine the inflation data in Indonesia, Thailand and the Philippines, and weigh in on the impact of Thai’s elections on its stock market and China’s slower than expected recovery. We also discuss despite the surprise decision by OPEC+ to cut crude oil production, we are maintaining our oil price estimate at $100/barrel for 2023.  00:31 - Roundup - Winson Phoon 04:23 - ID...

A monetary review of Malaysia, Singapore, Thailand and Vietnam following new data and interest rate increases, and also the resilience of ASEAN banks vis-a-vis Silicon Valley Bank. Something we might not be able to escape is El Nino which has a 50% chance of surfacing in July and its impact on currencies and palm oil output. 00:31 - Roundup - Suhaimi Ilias 02:41 - MY GDP - Zamros Dzulkafli 06:08 -...

Looking 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 headlin...

We review possible contagion and currency scenarios, and cut our forecast for Singapore’s non-oil domestic exports (NODX) after it extended a double-digit decline in February. Looking ahead, we evaluate the Belt & Road plans for ASEAN that were tabled by the National Development and Reform Commission (NDRC) at China’s recent National People’s Congress. 00:20 - Roundup - Winson Phoon 04:05 - Ba...

We 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...

As 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...

Our 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 Dzulkifl...

This 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 - Thi...