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Evicting Wall Street From the Housing Market Will Be Messy
A new law aims to make Wall Street investors feel unwelcome in the market for existing homes, while at the same time urging them to build more supply. It is a tricky balancing act, and failure would push up rents.
Under the 21st Century ROAD to Housing Act, which passed into law last week despite President Trump’s refusal to sign it, investors who already own more than 350 family homes can’t buy any more from the existing housing stock. There are a couple of exceptions, however. One is to buy homes that need so much renovation that regular buyers don’t want them. Another is when the tenant is offered a right to eventually own the house.
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Airlines warn Sunshine Protection Act could disrupt flight scheduling
The U.S. House passed the Sunshine Protection Act to make Daylight Saving Time permanent. Fox Businesss Grady Trimble reports on the bill, which now heads to the Senate.
Airlines are warning that changes to existing practices around Daylight Saving Time (DST) would have a major impact on the industry and that changes would need to be implemented over time to account for challenges it would create for scheduling.
Airlines for America (A4A), a trade group that represents leading air carriers in the U.S., released a statement this week which warned that changes to DST “would have considerable implications for aviation, including passenger disruption, crew and aircraft positioning, and domestic and international connectivity issues.”
“Airlines operate expansive interconnected domestic and global networks that are reliant on stability and predictability. Any changes would need an implementation timeline that reflects these global complications,” the group said.
The warning came as the House on Tuesday advanced the Sunshine Protection Act, which would allow states to voluntarily observe DST throughout the year and end the twice-annual clock changes, on a bipartisan 308-117 vote that sent the legislation to the Senate.
HOUSE PASSES DAYLIGHT SAVING TIME REFORM AS TRUMP SIGNALS SUPPORT FOR ENDING CLOCK CHANGE

Airlines warned that reforming current practices around daylight saving time would create challenges that need an implementation timeline for the industry to address. (Reuters)
The bill faces uncertainty in the Senate, though President Donald Trump is expected to sign the bill into law if it reaches his desk, as the White House has urged lawmakers to support the legislation.
Most states currently follow the practice of “springing forward” in March by moving the clock forward an hour into Daylight Time, and then “falling back” by an hour in November into Standard Time.
Arizona and Hawaii are the only two states who don’t participate in that practice, while 20 states have approved legislation that would see them remain on DST permanently if authorized to do so by Congress.
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President Donald Trump has backed the bill to give states the option of permanent daylight saving time. (Anna Moneymaker / Getty Images)
Proponents of permanent daylight saving time argue it would eliminate the disruptions caused by switching clocks twice per year and boost tourism and outdoor activities with more sunlight in winter evenings.
Critics have argued that the earlier sunrises and sunsets of permanent standard time would better align with circadian rhythms, and would prevent situations when the sun may rise after 9 a.m. in the winter.
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A House-passed bill to give states the option of permanent daylight savings time is under consideration in the Senate. (J. David Ake/Getty Images)
The American public remains broadly opposed to the current practice of changing the clock twice a year, as an AP-NORC survey released in December found just 12% of respondents were in favor of the current system, while nearly half were opposed. The remaining 40% had no opinion.
The survey also asked about possible reforms and found that 56% of Americans would prefer to make daylight saving time permanent with more light in the evenings and less in the morning, while about 4 in 10 would rather make standard time permanent to have more light in the morning and less in the evening.
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Fox News Digital’s Adam Pack contributed to this report.
Business
South Korea Regulator Unveils Curbs on High-Risk ETFs
South Korea’s top financial regulator unveiled measures to curb risks from single-stock leveraged exchange-traded funds, seeking to stabilize a local stock market that has seen wild swings, as individual investors use debt to chase profits amid artificial-intelligence-related jitters.
The Financial Services Commission said Thursday that it would suspend new listings of single-stock leveraged ETFs, ban securities firms and asset managers from advertising or marketing such products, and triple the minimum cash deposit for new investments to 30 million won, equivalent to around $20,000.
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Business
China’s Moonshot AI claims Kimi K3 can rival OpenAI and Anthropic
Chinese AI start-up Moonshot has unveiled a massive new artificial intelligence model it says can rival top American firms.
The company launched Kimi K3, containing 2.8 trillion parameters, which serves as a measure of an AI’s scale and processing power.
Kimi K3’s full capabilities – coding, knowledge work, and reasoning – will be known when it is released as an open-source model on 27 July.
The sudden breakthrough suggests that China’s tech prowess is rapidly narrowing the capabilities gap, upending long-held assumptions in the West that Chinese developers trail their American peers.
Its arrival later this month will make it the world’s first open-source model in the three-trillion-parameter class that can be freely downloaded, run and customised by outside developers.
The release comes at a highly sensitive moment for the global technology sector, just weeks after the US government abruptly forced American developer Anthropic to temporarily withdraw its flagship Fable and Mythos models due to severe cybersecurity concerns.
While Washington has since lifted those restrictions, the initial move highlights how the US government now views advanced AI software as critical national infrastructure, labelling frontier models as vital national security assets subject to strict export controls.
However, the rapid arrival of Kimi K3 suggests Chinese firms are successfully bypassing these regulatory barriers and advancing independently despite US restrictions on hardware sales.
Heavily backed by domestic tech giants Alibaba and Tencent, Moonshot has quickly risen to the forefront of China’s generative AI ecosystem.
In a statement the company said that K3 stands as Moonshot AI’s “most capable flagship model to date”.
Unlike closed, proprietary American systems from OpenAI or Anthropic, Kimi K3’s open nature allows global users to modify the system for advanced reasoning and complex software development.
Moonshot AI noted that the system is uniquely built to operate with “minimal human supervision” to sustain tasks such as engineering and coding.
Third-party evaluations from Artificial Analysis and Arena.ai show the model performing on a par with leading models in the US, such as OpenAI’s GPT and Anthropic’s Claude.
In these independent benchmarks, external, Kimi K3 ranked first in web interface engineering, outperforming Anthropic’s Fable system, external in blind human-preference tests.
While the system’s massive size means running it locally requires significant computing equipment, making it open-source could heavily disrupt Silicon Valley’s commercial models.
The announcement had an immediate impact on shares in Moonshot’s domestic competitors Zhipu and MiniMax, which tumbled sharply in Hong Kong by about 27% and 16% respectively.
Business
Nationalisation Won’t Keep London’s Taps Running
For all Londoners gripe about the city’s rainy weather, we learnt last week that the alternative is far worse. In a city famously averse to air conditioning, sustained temperatures above 35°C are tough to endure.
And so, speculation that Thames Water is considering a hosepipe ban is particularly unwelcome. Faced with “exceptionally high demand”, the supplier is already cautioning the capital’s residents to use water “wisely”.
The summer’s heatwave raises a thorny question that has been left unaddressed for far too long: what to do with Thames Water, London’s ageing water infrastructure, and the nearly £20 billion debt burden the company finds itself under?
The deceptively easy answer is nationalisation, and it’s one that’s attracted support from figures across the political spectrum. But advocates have not accounted for the astronomical cost nationalisation would impose on the British taxpayer.
For starters, even temporary nationalisation under a Special Administrative Regime, in which the government appoints an administrator to take control, will cost at least £4 billion, a figure likely to balloon significantly higher.
And that’s not to mention the enormous investment the company needs, amounting to at least £20 billion over the next five years just for critical infrastructure upgrades.
Add to this the multibillion-pound cost of compensating Thames Water’s creditors should full nationalisation go ahead, and the government is looking at an 11-figure black hole that will pull funds away from other vital public services, such as healthcare and defence.
These funds also need to be found quickly. Between treatment works, pumping stations and trunk mains, London’s water infrastructure is reliant on single points of failure. Without immediate investment, it is only a matter of time until large parts of the capital are faced with severe disruption to water supplies. In this heat, the government could find itself with a severe public health crisis on its hands.
Anyone questioning whether the government can find the sums needed to invest in Thames Water should look to the seven-year Hammersmith Bridge saga for the answer. Just last week, Hammersmith and Fulham Council confirmed that plans to reopen the bridge to motor traffic have been indefinitely stalled since there is “no financial option available that would allow its full restoration“.
Hammersmith Bridge’s restoration is estimated to cost £300 million – small fry compared to the £20 billion-plus Thames Water needs. The idea the government can source the funds required to fix London’s water system is, quite simply, fantastical.
And then there’s the question of the environment. For a city of London’s stature, it’s an outrage that raw sewage continues to be dumped into our waterways. The Oxford and Cambridge boat race two years ago, nearly derailed due to E. coli exposure which left several crew members vomiting, was a visceral reminder of the appalling state Britain’s waterways have been left in.
But a nationalised Thames Water would fare no better. The same ageing infrastructure, the same overflows; the only difference, the government would now be liable for the hefty environmental fines. It would, of course, be political suicide to levy these funds from the customer or the taxpayer, and so the result would likely be even laxer standards under government control.
The answer is abundantly clear: Thames Water needs investment the government cannot afford. The only feasible solution currently is London & Valley Water’s proposal, tabled by a group of creditors that has spent more than a year in discussions with regulators and the government.
The consortium has offered a substantial restructuring package that would write off approximately £9.4 billion of Thames Water’s debt, inject £3.35 billion in new equity, and provide a further £6.55 billion in financing. It has committed not to pay dividends until 2035, allowing investment to be prioritised over shareholder returns.
L&VW has also pledged to pay all Ofwat and Environmental Agency fines for non-compliance in full, protecting the public from any costs associated with fines or poor performance.
Nationalisation offers the promise of a quick fix which is impossible to deliver. It’s easy, therefore, to see why the issue is so seductive to politicians across the political spectrum.
But London doesn’t need more ideologically driven decision-making, and it most certainly does not want its water bills raised even higher – a likely result of the government shouldering Thames Water’s significant debt obligations and investment requirements.
The government must stop entertaining the nationalisation fantasy and start being honest with Londoners. A private sector solution is the only way to secure the urgent investment London needs to fix our water infrastructure.
Business
York Water VP Mark Snyder acquires $324 in company stock

York Water VP Mark Snyder acquires $324 in company stock
Business
ASEAN Consumer Boom: A $5 Trillion Growth Opportunity by 2035
Southeast Asia’s consumer landscape is evolving with rising incomes, a growing middle class, and digital shopping trends. Companies must adapt to seize long-term growth opportunities across diverse markets.
Abstract
- Southeast Asia’s consumer market is undergoing long-term structural shifts driven by rising incomes, a growing middle class, rapid urbanisation, and increasing digital adoption. Private consumption across the six largest ASEAN economies is projected to reach US$5 trillion by 2035, with e-commerce, premiumisation, and young demographics shaping demand.
- The investment landscape spans six distinct markets, each at a different stage of development, with listed companies across Singapore, Malaysia, Indonesia, Thailand, the Philippines, and Vietnam offering exposure to these trends. Key risks include macroeconomic sensitivity, regulatory changes, and currency fluctuations across the region.
Consumers are spending more, and how they spend is also changing.
As income rises and the middle class expands across the region, consumers are prioritising convenience, trading up to better quality, and increasingly living and shopping online.
These shifts are shaping companies across ASEAN markets that are best positioned to gain from the trend.
Yet despite the momentum, many investors remain underexposed to the ASEAN consumer theme.
Part of the reason is simple: there is no single ASEAN story, but six distinct markets with different levels of income, spending and digital adoption.
Here are the key drivers behind the changing consumer landscape in ASEAN and where the opportunities may lie.
Why invest in the ASEAN consumer theme?
The ASEAN consumer story isn’t short-term spending growth.
It reflects a set of long-term structural shifts that continue to reshape demand across Southeast Asia.
Private consumption across the six largest ASEAN economies is projected to grow by around 8% annually, potentially reaching US$5 trillion by 2035 (Bain & Company, 2025).
At the same time, changing consumer behaviours, from trading up to shopping online, are influencing which companies are best positioned to capture this growth.
1. A rapidly expanding middle class
Income growth has been a key driver of ASEAN’s consumer story.
As households move up the income ladder, spending increases and evolves.
Consumers tend to spend more on higher-quality products, trusted brands, and lifestyle upgrades.
This is reflected in the growth of ASEAN’s middle and mass-affluent population.
Boston Consulting Group estimates that this segment could expand from 57 million people in 2017 to 137 million by 2030, with the largest increases in Indonesia, the Philippines, Vietnam, and Thailand.
Source: Boston Consulting Group, Beyond the ‘Crazy Rich’: The Mass Affluent of Southeast Asia, November 2018
Source: Boston Consulting Group, Beyond the ‘Crazy Rich’: The Mass Affluent of Southeast Asia, November 2018
In Vietnam, the middle class is expected to expand rapidly according to Vietnam’s Ministry of Labour, Invalids and Social Affairs.
Meanwhile, Indonesia’s middle class is projected to make up more than half of the population by 2030.
With this rise in income levels, the opportunity set for investors expands across a wide range of sectors from everyday staples to discretionary spending and premium consumer brands.
2. Young demographics and rapid urbanisation
Southeast Asia has one of the youngest populations globally, and younger consumers tend to adopt new products, brands, and platforms more quickly.
By 2030, Gen Z and Millennials are expected to make up about half of consumers in Asia Pacific (Roland Berger, 2024).
Urbanisation is reinforcing this shift.
As more people move into cities, spending patterns change from traditional retail formats to modern trade, convenience-led consumption, and lifestyle services.
Indonesia, for example, is projected to be 60 percent urbanised by 2045 (UN, 2024), while Vietnam’s urban population continues to grow steadily.
This shift from rural to urban living is one of the strongest long-term tailwinds for ASEAN consumer companies.
3. The rise of e-commerce and social commerce
ASEAN’s consumer journey is also becoming increasingly digital.
This trend is evident in Southeast Asia’s e-commerce market, where platform gross merchandise value reached US$128.4 billion in 2024, up 12% year on year.
Source: Momentum Works, Ecommerce in Southeast Asia 3.0, June 2025
*GMV estimation covers only transactions on Shopee, Lazada, Tokopedia, TikTok Shop, Bukalapak, Tiki, Blibli, and Amazon SG. GMV estimated here includes all paid orders, including cancelled, returned and refunded orders.
According to Momentum Works’ Ecommerce in Southeast Asia 3.0 report, Shopee, TikTok Shop and Lazada accounted for more than 84 percent of platform e-commerce GMV in the region in 2024, with Shopee alone holding a 52 percent market share.
When we include non-platform channels such as brand websites, social media storefronts and messaging apps, Southeast Asia’s total e-commerce GMV reached US$145.2 billion in 2024, making up 12.8 percent of total retail. (Momentum Works, Ecommerce in Southeast Asia 3.0, June 2025).
Source: Momentum Works, Ecommerce in Southeast Asia 3.0, June 2025
*Non-platform GMV includes transactions that happen on open-loop social platforms (e.g. Facebook), brand.com, multi-brand retailer sites/apps, cross border channels, as well as orders placed via chat platforms such as Whatsapp.
Thailand and Malaysia were the fastest-growing markets, with e-commerce GMV rising 21.7 percent and 19.5 percent, respectively.
Despite this growth, most retail spending still occurs offline, suggesting there is still significant room for further digital penetration.
4. Premiumisation
As incomes rise, ASEAN consumers are increasingly trading up across many categories, from premium instant noodles and artisan coffee to health supplements, imported skincare, and branded fashion.
Source: Bain & Company and NielsenIQ, Southeast Asia: What’s Happening with Consumers and Consumer Products, November 2025
Bain and Company found that the luxury goods market in Southeast Asia grew at 6 percent annually between 2015 and 2021, and the trend has accelerated since (Bain and Company).
This matters for investors because companies that build strong premium brands often enjoy better margins, more loyal customers, and stronger pricing power over time.
5. Resilient domestic demand
One of the most attractive parts of the ASEAN consumer story is its resilience.
Even when external conditions weaken, domestic consumption has often helped support growth and recovery across the region.
UOB’s ASEAN Consumer Sentiment Study 2024 found that 52 percent of consumers said they were spending less on non-essential items. That may be a near term headwind, but it sits against a much larger long-term trend driven by demographics, rising wages, and the aspirations of a growing middle class.
Source: UOB, ASEAN Consumer Sentiment Study 2024 (Regional): Positive outlook amidst inflation and rising expenses, August 2024
For long term investors, periods of weaker consumer sentiment can sometimes create more attractive entry points into strong consumer franchises.
What are the investment opportunities in ASEAN consumer stocks?
The ASEAN consumer theme is not a single, uniform investment idea.
It plays out across different sectors and at different stages of development in each market.
Rather than focusing on identifying one “perfect” stock, it can be more useful to map the theme across a range of listed companies that offer exposure to key shifts such as convenience-led spending, digital commerce, and premiumisation.
Below are two to three listed companies from each of the six major ASEAN markets that provide exposure to these trends.
These are shared for educational purposes only and do not constitute investment recommendations.
Singapore
Singapore is the most developed consumer market in ASEAN.
With high income levels and steady tourist inflows, consumer spending here is supported not just by local demand, but also by visitors’ spending on shopping, dining, and personal care.
DFI Retail Group Holdings (SGX: DFIR)
DFI Retail gives investors broad exposure to everyday consumer spending across Asia through a single SGX-listed stock. Its brands span supermarkets, health and beauty, convenience stores, and food services, including Cold Storage, Giant, Guardian, 7-Eleven, and Maxim’s.
Sheng Siong Group (SGX: OV8)
Sheng Siong is one of Singapore’s best-known supermarket operators, with a strong presence in heartland neighbourhoods. Its focus on affordable fresh and dry groceries makes it a direct way to gain exposure to resilient household spending.
CapitaLand Integrated Commercial Trust (SGX: C38U)
For investors looking for exposure to Singapore retail spending through property, CapitaLand Integrated Commercial Trust, or CICT, stands out as the clearest listed proxy.
Its retail portfolio includes some of Singapore’s best-known malls, such as IMM, Bugis Junction, Tampines Mall, Funan, and ION Orchard. This gives investors exposure to both suburban and tourist-linked retail traffic.
Malaysia
Malaysia’s consumer backdrop has been relatively supportive.
The economy grew 5.2 percent in 2025, while household incomes continued to rise.
A stronger ringgit has also helped improve purchasing power and made Malaysian consumer stocks more attractive to foreign investors.
Padini Holdings Berhad (Bursa Malaysia: PADINI)
Padini is one of Malaysia’s best-known homegrown fashion retailers, with brands spanning footwear, apparel and children’s wear. Its different formats allow it to serve both mainstream and more value-focused shoppers.
Oriental Kopi Holdings Berhad (Bursa Malaysia: KOPI)
Oriental Kopi is one of Malaysia’s newer consumer listings and offers exposure to the growing appeal of lifestyle dining brands. Its kopitiam style cafés are located in high-traffic malls and popular urban destinations, giving it exposure to both local consumer spending and tourism.
CCK Consolidated Holdings Berhad (Bursa Malaysia: CCK)
CCK is an integrated food group with core strengths in poultry, seafood and food retailing, supported by a fully integrated supply chain from farming and processing to distribution. Its CCK Fresh Mart and CCK Local outlets provide a strong retail footprint, particularly in East Malaysia, allowing the group to capture recurring consumer spending on fresh and affordable protein. Beyond Malaysia, CCK has built a meaningful regional presence, with roughly 20% of sales coming from Indonesia and around 5% from Japan, providing geographic diversification.
The company is a constituent of the Bursa Malaysia Quality 50 Index.
Indonesia
Indonesia is ASEAN’s largest consumer market, with a population of about 280 million and household spending contributing more than half of GDP.
That makes it one of the clearest ways to gain exposure to rising incomes, urbanisation, and a growing middle class in the region.
PT Mayora Indah Tbk (IDX: MYOR)
Mayora is one of Indonesia’s best known consumer companies, with brands such as Kopiko, Roma, Torabika, and Energen sold both at home and overseas. Its products sit in everyday categories, which gives investors exposure to resilient household spending, while its export reach adds another layer of growth.
PT Mitra Adiperkasa Tbk (IDX: MAPI)
Mitra Adiperkasa, or MAP, is Indonesia’s leading lifestyle retailer. It operates a large network of stores across the country and carries a broad mix of international brands spanning fashion, sports, department stores, food and beverage, and lifestyle. Its brand roster includes Starbucks, Zara, Marks & Spencer, SOGO, SEIBU, Mango, and Converse.
PT MAP Aktif Adiperkasa Tbk (IDX: MAPA)
MAP Active is the sporting goods and active lifestyle arm of the broader MAP group. It gives investors more focused exposure to categories such as sportswear, footwear, and active lifestyle brands including Sports Station, Planet Sports, The Athlete’s Foot, Golf House, Kidz Station, and Payless across Indonesia, the Philippines, Thailand, Malaysia, Vietnam, and Cambodia.
Thailand
Thailand’s consumer story is supported by both tourism and domestic spending, although the backdrop has become more mixed.
In 2024, the market enjoyed a strong recovery as international tourist arrivals rose to 35.5 million and tourism revenue climbed sharply. But 2025 has been softer, with foreign arrivals declining and GDP growth expected to slow. Even so, retail consumption has remained relatively supported by government measures and a still resilient domestic spending base.
CP All Public Company Limited (SET: CPALL)
CP All is Thailand’s dominant convenience retailer, operating the 7-Eleven network across the country. With nearly 16,000 stores, it is deeply embedded in the daily habits of Thai consumers.
Singapore-based investors can access CP All through its Singapore Depository Receipt (SGX: TCPD).
Central Retail Corporation (SET: CRC)
Central Retail is Thailand’s leading multi-format retailer, with exposure across department stores, supermarkets, wholesale, DIY, electronics, sports retail, and Vietnam’s GO! hypermarket network. Across Thailand, it operates Central and Robinson department stores, Tops supermarkets, GO Wholesale, Thaiwatsadu DIY, Power Buy electronics, and Supersports.
Singapore investors can access CRC via its Singapore Depository Receipt (SGX: CRCD).
Thai Beverage Public Company Limited (SGX: Y92 / SET: TBEV)
ThaiBev is one of Southeast Asia’s largest beverage companies, with exposure across spirits, beer, non-alcoholic drinks, and food. Its portfolio spans spirits (Chang, Ruang Khao, Hong Thong), beer (Chang, Sabeco brands in Vietnam), non-alcoholic beverages (Oishi, est cola), and food (KFC and Starbucks franchises in Thailand).
ThaiBev is primarily listed on SGX (SGX: Y92) and also on SET (SET: TBEV), making it one of the most accessible Thai consumer names for Singapore-based investors.
Through its 53.6% indirect ownership of Sabeco, ThaiBev also provides exposure to Vietnam’s beer market.
Philippines
The Philippines is one of ASEAN’s more dynamic consumer markets, supported by a young population, steady remittance inflows, and strong brand loyalty.
Jollibee Foods Corporation (PSE: JFC)
Jollibee is the Philippines’ most recognisable consumer brand and one of Asia’s largest restaurant groups. Beyond its core Jollibee brand, it also owns a broad portfolio that includes Chowking, Mang Inasal, Greenwich, Coffee Bean & Tea Leaf, Highlands Coffee, Smashburger and Tim Ho Wan.
Puregold Price Club (PSE: PGOLD)
Puregold is one of the Philippines’ leading grocery retail groups, best known for its Puregold supermarkets and hypermarkets that serve both household consumers and small business owners such as sari-sari stores. The group also owns S&R Membership Shopping, a warehouse club format targeting middle- to higher-income consumers, giving it exposure across both value-oriented grocery retail and bulk membership-based retail.
Universal Robina Corporation (PSE: URC)
URC is one of the Philippines’ largest branded food and beverage companies, with products spanning snacks (Jack ‘n Jill), biscuits, chocolates, beverages (C2), coffee (Great Taste) and noodles. Its brands are sold not only in the Philippines, but also across Southeast Asia.
Vietnam
Vietnam remains one of Asia’s most compelling consumer growth stories. As incomes rise and urbanisation continues, spending is shifting steadily from basic necessities towards modern retail, branded products, and lifestyle consumption.
Mobile World Investment Corporation (HOSE: MWG)
Mobile World is one of Vietnam’s leading retail groups, with exposure across electronics, home appliances, grocery, pharmacies, and baby products through brands such as The Gioi Di Dong, Dien May Xanh, Bach Hoa Xanh, An Khang, and AvaKids.
Vietnam Dairy Products Joint Stock Company, Vinamilk (HOSE: VNM)
Vinamilk is Vietnam’s leading dairy company and one of the country’s strongest consumer brands. Its products are sold widely across Vietnam and exported to dozens of overseas markets. According to Kantar Worldpanel, Vinamilk has been the most purchased dairy brand in Vietnam for 12 consecutive years.
Saigon Beer–Alcohol–Beverage Corporation, Sabeco (HOSE: SAB)
Sabeco is Vietnam’s largest brewer and the maker of its most consumed beer brands — Bia Saigon, 333, and Bia Lac Viet. The company operates 26 plants with a total designed capacity of approximately 3 billion litres per year.
Key risks to watch out for
Even with a strong long term case, ASEAN consumer stocks can still be volatile because the region is exposed to several risks at once.
1) Macroeconomic and demand risks
ASEAN economies remain sensitive to slower growth in major markets such as China and the US, swings in commodity prices, and the impact of higher global interest rates on borrowing costs and consumer confidence. When conditions weaken, discretionary spending is usually hit first.
2) Regulatory and policy risks
Rules differ widely across ASEAN, and policy changes can be sudden. Shifts in import tariffs, wages, foreign investment rules, or sector regulations can quickly affect industry profitability. Vietnam’s tighter enforcement of drink driving laws, for example, created a near term headwind for beverage companies.
3) Currency and repatriation risks
For investors buying across the region, returns are also affected by moves in currencies such as the Thai baht, Indonesian rupiah, Philippine peso, Vietnamese dong, and Malaysian ringgit. A stronger US dollar can reduce USD-based returns when profits are converted back.
Putting the ASEAN consumer theme into perspective
The ASEAN consumer theme offers a broad and evolving set of opportunities, shaped by long-term structural shifts across income growth, demographics, and digital adoption.
Rather than treating it as a single investment idea, it can be helpful to build exposure across different markets and sectors, recognising that each country is at a different stage of development.
One approach is to invest directly in listed consumer companies on the respective ASEAN exchanges. The companies highlighted in this article, from DFI Retail and Sheng Siong in Singapore to MWG and Vinamilk in Vietnam, provide exposure to different parts of the region’s consumer growth story.
For Singapore-based investors, Singapore Depository Receipts listed on SGX can offer access to selected regional consumer stocks without needing to trade in multiple local markets.
For those seeking broader diversification, ETFs focused on ASEAN or individual country markets can also provide exposure to consumer growth alongside other sectors.
Regardless of the approach, it remains important to start with the fundamentals, including reviewing company announcements, financial results, and market data from official exchange websites such as SGX, Bursa Malaysia, IDX, SET, PSE and HOSE, before making any investment decision.
This article was written by Beansprout, a MAS-licensed investment advisory platform, in collaboration with ASEAN Exchanges.
Source : ASEAN’s Consumer Boom: A $5 Trillion Growth Story in the Making
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FAA lets Boeing issue 737 Max, 787 airworthiness certificates again
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The U.S. government on Friday said Boeing can once again issue airworthiness certificates for its best-selling 737 Max aircraft and 787 Dreamliners, an authority that was stripped from the manufacturer after fatal crashes in 2018 and 2019 of the 737 Max.
The Federal Aviation Administration said last September that Boeing could ticket its own planes before they’re handed off to customers for only some of the Maxes and Dreamliners, alternating weeks between the FAA and Boeing doing that work.
“During the past eight months, the FAA has seen comparable production quality findings when Boeing issued airworthiness certificates and when the FAA issued them,” the agency said Friday. “Based on these results, the FAA determined it can safely return this responsibility to Boeing.”
Boeing didn’t immediately respond to a request for comment.
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Enhancing Interview Performance with AI
In today’s highly competitive job market, acing an interview is crucial for landing your dream job. An AI Interview Copilot has emerged as a revolutionary tool to assist candidates in preparing for and navigating through interviews effectively.
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What is an AI Interview Copilot?
An AI Interview Copilot is an advanced artificial intelligence – based system designed to support job seekers during the interview process. It uses natural language processing (NLP), machine learning algorithms, and data analytics to provide personalized guidance and feedback. The copilot can simulate real – world interview scenarios, ask questions similar to those in actual interviews, and analyze the candidate’s responses.
It is essentially a virtual assistant that can be accessed via web – based platforms, mobile applications, or even integrated into video conferencing tools. The copilot is trained on a vast database of interview questions, industry – specific knowledge, and best – practice answers. This allows it to offer tailored advice based on the job role, Great Offer AI Interview Assistant company culture, and the candidate’s unique profile.
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Key Features of an AI Interview Copilot
Question Generation: One of the primary features of an AI Interview Copilot is its ability to generate a wide range of interview questions. These questions can be customized based on different factors such as the job level (entry – level, mid – level, senior), industry (technology, finance, healthcare), and the specific skills and qualifications required for the position. For example, for a software engineering position, the copilot might generate questions related to programming languages, algorithms, and software development methodologies.
Response Analysis: After a candidate answers a question, the AI copilot analyzes the response in multiple dimensions. It assesses the clarity, coherence, and relevance of the answer. It also checks for the use of appropriate language, tone, and body language cues (if the interview is conducted via video). The copilot can identify areas where the candidate can improve, such as providing more specific examples, elaborating on key points, or avoiding filler words.
Feedback Provision: Based on the response analysis, the copilot provides detailed feedback to the candidate. This feedback can be both positive and constructive. Positive feedback reinforces the candidate’s strengths, while constructive feedback offers suggestions for improvement. For instance, if a candidate’s answer lacks structure, the copilot might suggest using a framework like the STAR method (Situation, Task, Action, Result) to organize their response.
Industry Insights: An AI Interview Copilot has access to up – to – date industry knowledge. It can provide information about the latest trends, challenges, and best practices in the candidate’s target industry. This helps candidates demonstrate their awareness and understanding of the industry during the interview, which is highly valued by employers.
Practice Sessions: The copilot allows candidates to conduct multiple practice sessions. These sessions can be timed to simulate the real – time pressure of an actual interview. Candidates can repeat the practice sessions until they are satisfied with their performance or until they have covered all relevant topics.
Resume Review: Some advanced AI Interview Copilots also offer resume review services. They can analyze a candidate’s resume, identify its strengths and weaknesses, and suggest improvements. This ensures that the candidate’s resume is well – aligned with the job requirements and makes a strong first impression on the employer.
The Benefits of Using an AI Interview Copilot
Improved Interview Performance: By providing targeted feedback and practice opportunities, an AI Interview Copilot significantly improves a candidate’s interview performance. Candidates become more confident in answering questions accurately and effectively presenting their skills and experiences. They are also better prepared to handle unexpected questions and challenging situations during the interview.
Time and Cost Efficiency: Traditional methods of interview preparation can be time – consuming and expensive. An AI Interview Copilot can be accessed 24/7, allowing candidates to practice at their own pace without having to schedule appointments with coaches or find partners for mock interviews. It also eliminates travel costs associated with in – person coaching sessions.
Personalized Learning: The copilot tailors its guidance to the individual needs of each candidate. It takes into account factors such as the candidate’s educational background, work experience, and career goals when generating questions and providing feedback. This personalized approach ensures that candidates focus on the areas where they need the most improvement.
Access to Expert Knowledge: The AI Interview Copilot has access to a vast amount of knowledge and expertise. It can draw on the best practices from top – performing candidates and industry experts. This gives candidates an edge in the interview process by enabling them to present themselves in the most professional and informed way possible.
Reduced Stress and Anxiety: Interviews can be stressful experiences for many candidates. An AI Interview Copilot helps reduce stress and anxiety by familiarizing candidates with the interview process and providing them with the tools and confidence to succeed. The more practice sessions candidates complete with the copilot, the more comfortable they become with the interview format.
The Future of AI Interview Copilots
Integration with Recruitment Platforms: In the future, AI Interview Copilots are likely to be integrated with recruitment platforms such as LinkedIn Recruiter or Indeed Hiring Suite. This integration will allow employers to directly assess candidates’ interview readiness using data provided by these copilots. It will also streamline the recruitment process by automating some aspects of the initial screening.
Enhanced Emotional Intelligence: Future AI Interview Copilots may be developed with enhanced emotional intelligence capabilities. They will be able to detect the candidate’s emotional state during the interview, such as nervousness or confidence, and provide appropriate support and guidance. For example, if a candidate appears overly nervous, it could offer relaxation techniques or positive affirmations.
Multi – Language Support: As the global job market becomes more interconnected, AI Interview Copilots will need to support multiple languages. This will enable candidates from different countries and cultural backgrounds to use the copilot effectively. It will also help employers recruit talent from a more diverse pool of candidates.
Collaboration with Human Coaches: AI Interview Copilots are not meant to replace human coaches entirely but rather to work in collaboration with them. In the future, human coaches can use the data and insights provided by these copilots to offer more personalized and effective coaching services.The combination of AI – driven analysis and human expertise will create a more comprehensive and powerful approach to interview preparation.
In conclusion, an AI Interview Copilot is a game – changer in today’s job market.It offers a wide range of features and benefits that can significantly enhance a candidate’s interview performance. As technology continues to evolve,the future of AI Interview Copilots looks promising,with the potential for further integration,enhanced capabilities,and improved collaboration with human resources.
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