Singapore, 4 March 2024 – UBS Singapore launched its 12th edition of its flagship OneASEAN Summit, attracting over 600 corporates, institutional investors and policy-makers from ASEAN. ASEAN remains a key investment destination as one of the few regions likely to experience better economic growth this year.

Nicolo Magni, Head of UBS Global Banking, South East Asia & South Asia, said: “2024 will be a year of M&A, with sectors such as healthcare becoming increasingly relevant in South East Asia, and digital infrastructure continuing its path of growth. Capital Markets are progressively re-opening and we see strong investor interest for quality names in this region. UBS is currently ranked first in ECM in Asia. In South East Asia, UBS is also ranked first by Dealogic FY 2023 for Investment Banking. Through our deep and broad institutional knowledge base across ASEAN markets, we aim to bring the best of ASEAN to our institutional investors. The strong investor interest in ASEAN is reflected by the increasing number of attendees for our OneASEAN Summit yearly. ”

Grace Lim, Senior ASEAN and Asia economist, UBS Investment Bank Global Research, said: “UBS Investment Bank research forecasts that aggregate GDP growth for ASEAN will be growing at 4.6% in 2024, up from 4.3% in 2023. Countries with a stronger technology supply chain including Vietnam and Singapore, and to a smaller extent Malaysia, are likely to experience faster growth. We expect robust growth in the Philippines as well, with domestic demand growing at around 5.7%. In the current macro environment, investors may wish to consider investment opportunities in select ASEAN Banks, specifically from Philippines and Singapore. Within the equities space, we are overweight Malaysia and Philippines.”

Themed “Re:New”, the two-day conference will provide an overview of the latest ASEAN market updates and the key forces driving growth. There will be a series of engaging and interactive panel discussions on diverse topics including finding alpha in the Philippines market, the impact of new leadership in ASEAN, investment opportunities in ASEAN, the outlook for renewables and the next chapter of tech in ASEAN.

The stellar line-up of international thought-leaders at the conference include:

Mr Bill Dudley, former President and CEO of the Federal Reserve Bank of New York, former Vice Chairman of the Federal Open Market Committee and Board Member, UBS AG
Dr Santitarn Sathirathai, Member, Monetary Policy Committee, Bank of Thailand and Future Economy Advisor, Thailand Development Research Institute
Dr Ong Kian Ming, former Member of the House of Representatives of Malaysia, former Deputy Minister of International Trade and Industry, Program Director, Philosophy Politics and Economics, Taylor’s University
Mr Sandiaga Uno, Minister of Tourism and Creative Economy, the Republic of Indonesia
Mr Aaon Connelly, Senior Fellow, Southeast Asian Politics and Foreign Policy, The International Institute for strategic studies

About UBS

UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. With the acquisition of Credit Suisse, UBS manages 5.5 trillion dollars of invested assets as per second quarter 2023. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 countries around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

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