Looking Beyond the AI Bubble

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