Episode Details

This week, our Host, Thilan Wickramasinghe opens to renewed bond weakness and rising oil, with President Trump rejecting Iran's Straits of Hormuz offer and higher energy costs feeding through to Singapore's inflation prints. Against this backdrop, the team hunts for winners from the higher-rate environment across the region.

The show leads with Singapore macro, where August core inflation rose to 2.2% and headline to 2.3%, prompting upward forecast revisions. Our team now expects MAS to tighten with a 25bps slope increase in October, with 3-month SORA forecast at 1.6% by end-2026 and 1.85% by end-2027.

Next up, our REITs Analyst Krishna reports from an investor roadshow that Singapore REIT buyers are turning more selective, with yields around 7% featuring in discussions, but says higher rates do not undermine the case. Preferred names include CICT, Ascendas REIT, Keppel DC REIT, Mapletree Logistics Trust, OUE REIT, Ascott Trust and Parkway Life REIT.

Our Philippines Head of Research Kervin then explains why higher rates make Philippine banks worth a second look, with every 25bp BSP hike lifting NIMs by 5-9bps and loan growth now at double digits. His top pick is BDO, on 0.8x P/B and 13-14% ROE.

Turning to tech, our analyst Jarick Seet discusses CSE Global, which has secured around SGD190m of new orders, including power distribution centres for the Calcasieu Pass LNG expansion and a follow-on for a Google-operated data centre power hub in Wyoming. He expects 2H26 revenue up 30-40% with stronger margins, flags a potential US$250-350m AWS order by November-December, and calls the 10% three-month dip a buying opportunity.

Our Plantations Analyst Chee Ting then explains why Indonesia's new agrarian reform law prompted a sector downgrade to neutral and cuts to Bumitama Agri and First Resources, preferring Malaysian planters SD Guthrie, Sarawak Oil Palms and Genting Plantations.

Finally, our Chart Guy flags trading BUYs on Pan-United and Multi-Chem.

Wishing you a profitable trading week ahead!