Morning Brief

Thailand’s GDP expanded 1.5% on-year, in the 3rd quarter of 2023, less than the 1.8% reported in Q2 and lower than economist estimates. This was despite robust domestic consumption and steady tourism recovery. What’s weighing down the Thai economy and how might the Thavisin government respond? We discuss the outlook for our northern neighbour with Erica Tay of Maybank Singapore.

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Malaysia dreams of developing her own EV and in the meantime has banned the import of such vehicles costing under RM100,000 until that happens. There are also worries that the charging infrastructure may be unable to support the needs of this industry. Datuk Shahrol Halmi, President of the Malaysian Electric Vehicle Owners’ Club shares his perspective.

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Recently, it was revealed that the total assets under management (AUM) exposure for GLICs on Bursa Malaysia is around 451 billion ringgit, around 25% of the market’s total equity value. This comes as the ringgit is plumbing new depths against the USD. Independent business writer, P Gunasegaram, shares his thoughts on how efficiency and governance at these GLICs can be improved to bring about better value.

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Sarawak Premier Tan Sri Abang Johari Tun Openg unveiled the state’s largest-ever budget for 2024, totaling 12.4 billion ringgit. Professor Dr. Evan Lau, Head of Strategy, Faculty of Economics and Business, University Malaysia Sarawak tells us what are the drivers of the state's economy and the development gaps.

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India is due to release its second quarter GDP results next week, which some economists have estimated could come in as high as 7% growth. What’s buoying the world’s fifth largest economy, at a time when the outlook for major economies like the US, China, Japan and the Eurozone is less optimistic? We discuss the trends with Sanjay Mathur, Chief Economist for India and Southeast Asia with ANZ Bank.

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The Fed minutes reveal that it's still maintaining their hawkish policy for the moment due to sticky inflation and its resolve to bring inflation down to long-term target rate of 2%. What does this mean for the other investment asset classes especially since treasury yields have increased in tandem. Francis Tan, Investment Strategist with UOB tells us the answer whilst weighing in on the ideal investment strategy for 2024.

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The deadline for candidates to register in Taiwan’s presidential election is just days away, and the opposition is in disarray. Having failed to come to a consensus on a joint presidential candidate, there are doubts on the ability of the two main opposition parties - the KMT and the TPP - to unseat the ruling Democratic Progressive Party. Brian Hioe, Co-Founding Editor of New Bloom Magazine shares his insights and what this means for the elections come January next year.

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Singapore has seen a tremendous rise in family offices, from 400 in 2020 to more than 1,100 today. The government is embracing this segment by providing incentives for Ultra High Net Worth Individuals to set up family offices there, challenging Hong Kong’s traditional role as Asia’s financial centre. Loh Kia Meng of Dentons Rodyk & Davidson discusses the island state's strategy in attracting investors and whether this can be replicated in Malaysia.

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J-KOM’s main focus is to assist the federal government in disseminating information to the people but it has been also accused of being a propaganda machine. Dr Benjamin Loh, Senior Lecturer, School of Media and Communication, Taylor's University tells us if it's time to revamp it with new objectives in light of the many competing government agencies.

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MIC and DAP recently concluded their conventions with very different messaging. We check in with Dr. James Chin, Professor of Asian Studies, University of Tasmania on his take on the future of these political parties and their place in this Unity Government.

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