Significant growth in the number and wealth of middle-class consumers, combined with an expected acceleration in infrastructure spending, helps builds a compelling, multi-year case for investing in ASEAN equity markets.
This is a view shared by Soo-Hai Lim, Investment Director for Asia Pacific equities at Baring Asset Management and manager of the Barings ASEAN Frontiers Fund, a mutual fund.
He says: “Sustained and superior economic growth is being driven by domestic demand from a growing number of consumers. ASEAN economies have successfully restructured and deleveraged since the 1997 Asian financial crisis and are firmly on the investor radar including, significantly, Foreign Direct Investors who are allocating resources and capital. This in turn is creating jobs, resulting in a re-rating of property prices in both industrial and residential sectors.”
“While Indonesia continues to be the ‘poster child’ for ASEAN economies, and has overtaken its pre-Asian-crisis market highs in USD terms, the Philippines has also performed very strongly thanks to growing domestic confidence, and much improved macroeconomic fundamentals – the Philippines is the best performing ASEAN market and the Philippine peso is the best performing Asian currency to date. Thailand is also looking buoyant, with the second highest return on equity in the region.”
Is There a Silver lining amid COVID-19?
Thinking of the future impact of this pandemic on office buildings, it may have already dawned on many of us that a majority of potential long-term trends and health measures will become permanent work-life features in the times to come.
The time is ripe to embrace Industry 4.0
Traditional brick-and-mortar retail has suffered tremendously, as countries have been implementing effective stay-at-home and social distancing policies to mitigate virus spread, while those worst hit have enacted strict draconian lockdowns
We have entered a time where, seemingly, interconnectedness is the new enemy, staying in is the new going out, and antisocial is the new social. COVID-19 has brought us on the cusp of growing accustomed to new norms and sounded a wake-up call in terms of how we live.
Covid-19 puts flexible space markets under strain
In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.
The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.
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