ASEAN Risk/Reward

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!