Chief Executive Officer, Emmer Capital Partners Limited

Manishi Raychaudhuri

Chief Executive Officer

Emmer Capital Partners Limited

Emmer Capital Partners is an Asia Pacific focused financial advisory firm engaging in strategic financial asset allocation advice, bespoke thematic research and advising early-stage companies and connecting them to investors. Emmer Capital provides macro-economic and multi-asset investment strategy inputs to institutions, family offices, private wealth managers, private equity, and corporate boards directly and through independent research platforms. Emmer Capital also advises a wide range of startup companies on fund raising and business strategy. Emmer Capital's active engagement with the print and electronic media reaches a broad spectrum of investors across the globe.

Cross Asset Strategy

<ul>
<li>The spike in energy and fertilizer prices is igniting concerns about durably higher inflation expectations among policymakers. The inflation surges in India, Philippines, Thailand and Korea are particularly noticeable.</li>
<li>Real policy rates are negative in Korea, Taiwan, Thailand and Philippines. India could be headed there if inflation rises further. Korea, Indonesia and Philippines are already on a tightening path.</li>
<li>Indian real rates are positive for now, but a deficient monsoon-induced food inflation spike could drive rate hikes later this year. So could Malaysia and Thailand in late 2026.</li>
</ul>


The spike in energy and fertilizer prices is igniting concerns about durably higher inflation expectations among policymakers. The inflation surges in India, Philippines, Thailand and Korea are particularly noticeable.
Real policy rates are negative in Korea, Taiwan, Thailand and Philippines. India could be headed there if inflation rises further. Korea, Indonesia and Philippines are already on a tightening path.
Indian real rates are positive for now, but a deficient monsoon-induced food inflation spike could drive rate hikes later this year. So could Malaysia and Thailand in late 2026.


Asia: Which Economies Are Most Likely to Tighten Monetary Policy?

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul>
<li>Addvalue's share buybacks signal optimism, says Maybank on 're-boarding' chance.</li>
<li>DBS: ComfortDelGro's recent bus package loss is 'immaterial' to earnings.</li>
<li>RHB maintains 'buy' rating for Marco Polo Marine with a 21 cents target.</li>
</ul>


Addvalue's share buybacks signal optimism, says Maybank on 're-boarding' chance.
DBS: ComfortDelGro's recent bus package loss is 'immaterial' to earnings.
RHB maintains 'buy' rating for Marco Polo Marine with a 21 cents target.


Singapore Market Roundup (17-Jul-2026): Maybank sees optimism in Addvalue's share buybacks.

<ul>
<li>JP Morgan report on banks cools enthusiasm for buying.                                          </li>
<li>Maybank starts coverage on JustCo with a 'buy' rating at $1.02.</li>
<li>CGSI's Yap raises SIA target price to $7.65.</li>
</ul>


JP Morgan report on banks cools enthusiasm for buying.                                          
Maybank starts coverage on JustCo with a 'buy' rating at $1.02.
CGSI's Yap raises SIA target price to $7.65.


Singapore Market Roundup (16-Jul-2026): JP Morgan report dampens bank buying enthusiasm.

<ul><li>Beansprout starts coverage on United Hampshire US REIT, citing defensive yield.</li><li>Maybank cuts STI target to 5,500 points after market EPS downgrades.</li><li>Maybank's Seet sees recent drop in Addvalue Technologies as a buy opportunity.</li></ul>

Beansprout starts coverage on United Hampshire US REIT, citing defensive yield.Maybank cuts STI target to 5,500 points after market EPS downgrades.Maybank's Seet sees recent drop in Addvalue Technologies as a buy opportunity.

Singapore Market Roundup (02-Jul-2026): Beansprout covers United Hampshire US REIT for its yield.

<ul>
<li>RHB's Natarajan raises CICT target price to $2.75.                                        </li>
<li>OCBC's Lim downgrades Sats to 'hold' after recent gains.</li>
<li>SGX likely to see SDAV growth from EQDP cycle, say DBS and RHB.</li>
</ul>


RHB's Natarajan raises CICT target price to $2.75.                                        
OCBC's Lim downgrades Sats to 'hold' after recent gains.
SGX likely to see SDAV growth from EQDP cycle, say DBS and RHB.


Singapore Market Roundup (30-Jun-2026): RHB's Natarajan increases CICT target price to $2.75.

Malaysia

Malayan Banking Berhad operates as a bank. The Company provides financial services such as insurance, asset management, stock broking, nominee services, venture capital, leasing, and Internet banking. Malayan Banking Berhad serves customers in South East Asia.

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Maybank (MAY MK)

Asia: Which Economies Are Most Likely to Tighten Monetary Policy?

Rising energy & fertilizer prices fuel inflation worries, with sharp surges in India, PH, TH & KR. After KR, PH & ID, India could hike rates if...

Manishi Raychaudhuri

Singapore Market Roundup (16-Jul-2026): JP Morgan report dampens bank buying enthusiasm.

JP Morgan dampens bank buying enthusiasm; Maybank rates JustCo a 'buy' at $1.02; CGSI's Yap raises SIA target to $7.65. Addvalue initiates share...

Singapore Market Roundup

Singapore Market Roundup (02-Jul-2026): Beansprout covers United Hampshire US REIT for its yield.

Beansprout covers United Hampshire US REIT for its yield. Maybank lowers STI target to 5,500 and views Addvalue Technologies' drop as a buying chance.

Singapore Market Roundup

Singapore Market Roundup (30-Jun-2026): RHB's Natarajan increases CICT target price to $2.75.

RHB's Natarajan raises CICT target to $2.75; OCBC's Lim downgrades Sats to 'hold' after gains. SGX expected to see SDAV growth from EQDP cycle, say...

Singapore Market Roundup

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Asia: Which Economies Are Most Likely to Tighten Monetary Policy?

​Rising energy & fertilizer prices fuel inflation worries, with sharp surges in India, PH, TH & KR. After KR, PH & ID, India could hike rates if...

Manishi Raychaudhuri

Singapore Market Roundup (17-Jul-2026): Maybank sees optimism in Addvalue's share buybacks.

Maybank sees optimism in Addvalue's share buybacks. DBS notes ComfortDelGro's bus loss is 'immaterial' to earnings. Broker's Digest covers various...

Singapore Market Roundup

Singapore Market Roundup (16-Jul-2026): JP Morgan report dampens bank buying enthusiasm.

JP Morgan dampens bank buying enthusiasm; Maybank rates JustCo a 'buy' at $1.02; CGSI's Yap raises SIA target to $7.65. Addvalue initiates share...

Singapore Market Roundup

Singapore Market Roundup (02-Jul-2026): Beansprout covers United Hampshire US REIT for its yield.

Beansprout covers United Hampshire US REIT for its yield. Maybank lowers STI target to 5,500 and views Addvalue Technologies' drop as a buying chance.

Singapore Market Roundup

Singapore Market Roundup (30-Jun-2026): RHB's Natarajan increases CICT target price to $2.75.

RHB's Natarajan raises CICT target to $2.75; OCBC's Lim downgrades Sats to 'hold' after gains. SGX expected to see SDAV growth from EQDP cycle, say...

Singapore Market Roundup

Rising energy & fertilizer prices fuel inflation worries, with sharp surges in India, PH, TH & KR. After KR, PH & ID, India could hike rates if...