WATERRABBIT - 2023 Feng Shui Guide to Prosperity
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5 JANUARY 2023
Maybank Research Presents
WATERRABBIT
2023
Feng Shui
Guide to
Prosperity
This report has been prepared by MAYBANK IINVESTMENT BANKING GROUP RESEARCH
SEE PAGE 29 FOR IMPORTANT DISCLOSURES AND ANALYST CERTIFICATIONS
Brighter
Clouds
Welcome to the Year of the Rabbit! chains from North Asia to SE Asia leveraging
Singapore’s regional hub status and (c)
Singapore’s market sailed through 2022
restructuring and value-unlocking of
largely from a position of strength. It was one
government-linked companies. We believe
of the best performing markets in SE Asia,
these could support our 12-month STI target
with the Straits Times Index (STI) gaining 4%.
of 3,629.
This was thanks to its defensive market
composition. While rising interest rates and Of course, the clouds of recession are
inflation brought in to question the path to gathering in 2023. We believe any recession
profitability for growth stocks (particularly in could likely be shallow in Singapore’s case
the technology sector), the relative visibility given the support from Covid re-opening
of earnings, dividends and strong balance sectors such as hospitality, aviation, F&B,
sheets of Singapore offered a hiding place. retail and construction. We expect GDP
Inflation globally is still running hot and growth to slow to +1.5% in 2023 after
central banks are signalling that rate hikes are expanding +3.5% in 2022. Inflation may have
to continue until the job is done. We think peaked, but it could prove to be sticky given
this could pressure growth stocks and flows Singapore’s tight labour market, housing
would prefer defensive Singapore. shortage, 1% GST hike and the expansion of
the Progressive Wage model. We forecast
We see other catalysts too: (a) increasing
core-inflation to average 4% in 2023 and
sustainability investments flowing to SE Asia
headline inflation to average 6%. In this
favouring Singapore given its lower ESG risk
backdrop we expect MAS to keep tightening
relative to the region, (b) shifting in supply
and forecast 3M SIBOR to peak at 4.8%. The
wildcard here is the speed of China’s re-
opening. A fast re-opening could give a boost
and increase capital flows to Singapore.
As we head into the New Year, rest assured
Maybank’s award-winning investment teams
across Research, Institutional Equities, Retail
Brokerage and Prime will continue to bring
you timely insights and winning investment
ideas no matter the direction of the markets.
May the Year of the Rabbit bring you good
health, and great fortune!
Thilan Wickramasinghe
Head of Research, Singapore
Maybank Investment Banking Group
2
Feng Shui
Master Ken Koh
Master Ken has been the practising
consultant for House of Feng Shui since
1997.
As a speaker and writer, he shares his stories
and journey in life at events and functions.
Contributions for corporate and private
inputs include those for Resorts World,
HSBC, UOB, Standard Chartered, Wheelock
Properties and Hong Leong Development.
He advises for residential and commercial
developments including SingTel, Capital Land,
Keppel Marine and currently works with
Kusto Homes in Hanoi, Vietnam.
Master Ken is also the publisher of the widely
read Chinese Almanac of Auspicious Days.
Master Ken Koh
Feng Shui Master, House of Feng Shui
3
Welcome to
the Year of
the Water
Rabbit
Yin Water over Yin Wood
2023 is symbolic of the element Water over
Wood. Both are of the Yin polarity. In Feng
Shui principles, Water supports Wood and
therefore the year is seen to be complementary
and the nature of Yin energies is viewed as
gentle, accommodating and related to
emergence of feminine control.
The Rabbit zodiac is also a Peach Blossom star
by its own virtue and thus, 2023 is a year for
singles who are looking for meaningful
relationships or are getting married. Yin Water
represents intelligence and emotions. Acting as
the Academic Star, the outcome of peace and
harmony is a distinct possibility.
Yin Water can be visualized as the morning
dew on leaves and flowers. It is also
transformative and can turn into water in the
atmosphere, clouds or rain showers. As such,
2023 is a year of changes in gentle phases.
The year brings inactivity and slow
actualization. Do less and achieve more is
the key to success.
4
2023
Country Prospects
The Water Rabbit year brings a sense of calm Malaysia, with its change of leaders, will
and stability to markets. The recent interest experience headwinds in its economic
rates rises will stabilize and add confidence to management and this can again result in
equity and stock markets especially after the Singapore's favour. By the end of 2023, the
month of May. Economic activities will be US shall be approaching its election year and
spurred by the relative compromise in political 2023 is not expected to bring about euphoria
situations in the West as well as the return of in the markets.
calm in the South China Seas disputes.
Thailand, in the middle of Southeast Asia by
Singapore, symbolic of the Wood element, geography, is endowed with the 'Academic Star'
benefits from the supporting elements of giving it much push in attracting investments
Water and Wood. This is in default of the into the country. Inflation and possible
changes created by the shutting of borders recession aside, Thailand comparatively fares
in China and Hong Kong. The uncertain political better with tourism upticks.
situation of Malaysia is another shot in the arm
Indonesia will do well if the domestic policies
for Singapore's position as the preferred
are pacified against rising costs. The 'Conflict
destination for wealthy individuals and
Star’ indicates unhappiness and given the
businesses. Adding to its dynamism, the
political stability and clear leadership, Indonesia
presence of Fire element as the second half
will see value and financial inflow of funds
year's driver for economic activities puts
which may fuel great performances in the
Singapore as a clear leader in the recovery
financial markets between May and September
process from inflationary and possible
2023.
recessionary pressures.
The US benefits by virtue of it being a Metal
Technology, artificial intelligence, alternative
element by classification. Financially, US
energy, social media platforms, payment
equities and stocks gain traction in June and
gateways, medical breakthroughs and recycled
peak in August 2023. Consolidation will follow
waste will benefit from the impact of climate
and there is a possible month-long disruption
changes, carbon emission targets and the push
to its traction from 7th October 2023.
for sustainable energies.
Hong Kong, intricately linked to China's policies,
will see gradual opening up from 1Q2023 and
in turn, a return to normalcy in China is
expected at the same time. Economic growth
will be gradual and this is not expected to bring
about immediate results to both Hong Kong
and China as the Rabbit year is synonymous
with inactivity.
5
Transiting into
2o years of the
Fire Energy
The significance of time in Feng Shui
accounts for dominance of industries, people,
behaviour, habits and orientations that shape
up markets, wealth distribution and
opportunities for asset accumulation.
Between 4th February 2004 till 3rd February
2024 (Year of the Dragon), the cycle of these
twenty years was affiliated to the Earth
element (known as the Period 8). This supports
the growth of industries associated with
Earth such as construction, real estate,
architecture, storage (think data), waste
management and intellectual properties.
6
Cycle 9 begins
4th February
2024
2023 will see the dwindling energies of Earth
and emergence of the Fire element. Fire is all
things related to life, power and comfort.
Technology, artificial intelligence,
transmission and conversion of energies,
robotics, internet-of-things, alternative power
will take centerstage. Moreover, medical
sciences, hospitality, entertainment,
inspirational and spiritual matters will be
aligned for the next twenty years. Properties,
supported by this Fire cycle, will grow at an
accumulated pace that may outstrip the last
twenty years’ performance.
7
Metal
Industries
The healthy concentration of the Wood
element represents wealth to the Metal
element.
Yang Metal covers banking, engineering,
mining, automotive (think EV and high end
automotives), private jets, hardware and
military equipment.
Yin Metal includes beauty products and
services, aesthetic treatment, cosmetics,
jewelry, luxury brands, luxury watches
and minting.
In the Year of the Water Rabbit, Metal
becomes the main beneficiary as the most
consistent energy presence.
Sector Winners: It is also a hidden element, meaning that only
those with privilege knowledge, wisdom and
professional advice will stand to gain as it
gains traction with the intellectual properties
of the Water element in the year.
The first three months present its best
opportunities and between October and
December, the spike can take many by
surprise. Stay invested and stay nimble.
Banking Payment
Gateways
Aviation Engineering
8
Earth
Industries
Earth sectors are businesses in the real
estate, property, estate management funds,
data storage facilities and human resources.
Yin Earth includes crop producers, urban
farming, plant-based food, recycling, waste
management and home-based businesses.
The presence of the Water element in the
Rabbit year offers the financial opportunities
for such businesses to thrive although the
growth may not be in quantum leaps.
In 2023, real estate may come under
pressure due to inflationary and monetary
policies. However, if one takes a mid term (by
2025) commitment, the benefits are Sector Winners:
exponential.
This impact has much to do with the coming
of the Period 9 which is Fire driven and that
will give the Earth element businesses the lift
that they deserve. The upside of can mean
that the performance of Earth industries can
outstrip the results of what was already a Data
good twenty years before. Have a long-term
vision when investing. Storage Family
Facilities Trusts
Residential Properties
9
Fire
Industries
The late starters are the strategists and
executioners of precision. Fire is symbolic of
economic activities, confidence and optimism.
The Year of the Rabbit makes the Fire
entrance only towards the second half, but
the flame has been cultured and prepared for
a consistent light. Fire industries will shine
between May and August in 2023 and then
maintain its path for the rest of the year.
Fire businesses are those in investments,
stocks, insurance, energy, chemicals,
medicine, pharmaceuticals and life sciences.
Other businesses include entertainment,
event management, startups and lifestyle
services.
Sector Winners: Technology, telecoms, tourism and travels will
do well from the second half and will be good
picks when they are priced fairly. The upside
is significant in the long run.
The upcoming Period 9 cycle of twenty years
starting 2024 also indicates the foreseeable
potentials of the revolutionary changes in
alternative energy, high speed
Pharma- Electric telecommunications, advanced medicine, user
experiences, artificial intelligence, big data,
ceuticals Vehicles electric vehicles and robotics.
Healthcare Providers
10Water
Industries
With the lifting and easing of Covid 19
restrictions, travels and mobility have been
increasing in rapid paces. Water industries are
fluid and transformative.
The Rabbit year exposes the Water element
under the pressure of Wood and clashing
against the Fire presence of the year. This
can signal a weakness in these businesses in
the sense of extreme competition and
pressures of demands.
Water businesses include travels, cruise
businesses, sea resorts, water sports, drinks
and alcohols.
Other activities associated with Water are Sector Winners:
water treatment facilities, filtrations, life
saving equipment, logistics, marine life,
fisheries, boating, vessels, offshore and
diving services.
In 2023, while these businesses may not be
seen as thriving, they will continue to stay
afloat. Water is transformative and therefore, Social
one must be able to track their volatility and
benefit from their movements. Profits from Media Air
the Water industries are rapid and swing Platforms Travels
wildly. Set your limits and you need to be as
soft as Water itself.
Wellness Business
11Wood
Industries
Wood businesses will be a double-edged
experience. It has the support of the Water
element which by any measure, is not strong.
This creates a resource that is suspicious for
Wood industries. Moreover, the Fire element
is ever ready to consume whatever that is left
of the Wood element in the year.
It is a sentimental situation for Wood in 2023
but if one is looking for exciting times, you
will be disappointed. The growth of Wood in
the Rabbit year is slow and gradual.
Wood businesses are viewed as things
associated with growth and expansion.
Education institutions, trading, networking
businesses, new economies, fund managers
Sector Winners: and hostel facilities.
This year, Wood industry players are seen to
work hard to produce results, with little or
poor resources and underrated.
As soon as the Fire season approaches from
early May, the path ahead will be challenging.
It can even mean some painful decisions
when August approaches. This put such
Civil Recycling businesses under threat and within it, value
Service for the brave to step in and rescue it from
ruins.
Social Media
122023 Chinese Zodiac Outlook
Rat in 2023
Don’t turn a
prospect into
a suspect
An amazing year awaits you if money is the
objective. Financial matters and abundance
are instore for those with a Rat in their charts.
The Prosperity Star accounts for all things
money-related in your favour. With the Compatibility Ox, Dragon and Monkey
Fortune Virtue, the result is a journey of
success in your investments and an increase Lucky
January, April and August
in your assets. Months
The Heavenly Virtue Star is a noblemen Lucky
Blue, Silver and Gold
connecting you to the relevant resources Colours
and intelligence. This means that there are Luck Factor
professionals out there coming your way to 85%
in 2023
hold your hands to make profits in a seemingly
Travel and Entertainment -
difficult time. Favoured
Airlines Staff, Event
The Year of the Rabbit is also a Peach Industries &
Managers and Attraction
Sectors
Blossom year, meaning it is extremely good Performers
for relationships to develop. As good as it looks
Excellent opportunities -
with the Red Matchmaker Star in your favor,
Rats should always be on the
Rats are especially vulnerable to a punishment
lookout for external factors
relationship here. This is known as an Career
that favour their progress in
uncivilized punishment’ causing these two Prospects
areas of financial
groups to venture into ‘forbidden territories’ in
compensations and career
personal encounters. Falling into this trap will
prospects in 2023.
trigger the scandalous Salty Pool star.
14Ox in 2023
Turn to the
Snake and
Rat for help
It may not be smooth sailing as there are no
positive stars for you this year. The consolation
is the presence of the Sky Bright Star which
dissipates all things evil, dark forces and there Compatibility Rat, Snake and Rooster
is much you can do to turn things.
Lucky December, May and
Firstly, you must not despair at the lack of
Months September
good stars in 2023. If it is just the year of the
Ox in your birth chart, it just mean that Lucky
Yellow, Orange and Earth
external forces such a public policies, overseas Colours
ventures and distant relationships are out of Luck Factor
your control. Focus of the other positive 40%
in 2023
attributes in your life. But first, handle some
Hospitality and Healthcare -
negative energies that you are likely to Favoured
Hotel Managers, Theme
encounter. Industries &
Parks Owners and Medical
Sectors
Monthly Killing star brings repetitive issues. If Workers
you are already saddled with current problems
Stay focused - Remain
such as a loss of job or cash flow, be ready that
patient for things and events
they will recur. As the monthly stars is attached
to unfold and avoid being
to the moon’s energies, it can potentially be
Career enticed by promises. It is
issues brought upon by females. Healthwise,
Prospects through this that
the five viscera are considered Yin energies
uncertainties will clear to
and they include heart, liver, lings, spleen and
enable you to leverage for
kidney. Be aware and be consistent in health
the second half of the year.
checks.
15Tiger in 2023
Horse friends
inspire you
The positive stars are insignificant as the
Heavenly Doctor is a perfunctory description
of your ability to find medical help when you
are ill. It does not give you additional boost of
good health. Golden Carriage is a wealth
related star that symbolizes money coming
your way because of your attracting powers
by way of looks, physical abilities, academic
excellence or deliverance expediency. This
again is conditional upon your capabilities
which in today’s context can mean Compatibility Pig, Horse and Dog
headhunters matching you due to your great
Lucky November, June and
credentials or strong recommendations.
Months October
Heavenly Officer Charm is a legal related issue
Lucky
for Tigers and is an out of the blue incidents, Red, Green and Violet
Colours
totally unexpected. Take care of the Sickness
Charm as it brings about the resurgence of old Luck Factor
55%
illnesses and new diseases due to spread and in 2023
contagion. This year, Tigers need to watch out Favoured Education and Research -
for air borne threats such as smoke and Industries & Medical Scientists, Auditors
bacteria related contraction. Surpassing Path is Sectors and Private Tutors
a people related issue as it creates a cloud of
Pounce on uncertainties -
hostility and nonchalance from people around
There's nothing to lose for
you. This can lead to confusion for you as you
you to take on chances
will feel a loss of bond or relationship with
Career when they present. This
those you trust and close to you. A self
Prospects year, fortune favours the
exploration of new understanding of others
brave and if the frequencies
can solve this problem. Find your friends who
resonate, trust your guts and
are Horses and confide in them, they will lead
go for the kill.
you out of any issues.
16Rabbit in 2023
Make the
Dog your
best friend
It is unusual times for Rabbits in 2023.
Although ‘offend Tai-Sui’ (the Grand Duke), the
upsides far outweigh the negative.
Two powerful wealth stars are in your favor. Compatibility Dog, Goat and Pig
First, the Golden Lock Star translates into
success in your career, business and Lucky
October, November and July
endeavors. This forms an external factor that Months
enhances your opportunities for additional Lucky
sources of income such as an investment or an Light Blue and Dark Green
Colours
increase in your asset value. Next comes the
Jade Hall which works hand in hand with the Luck Factor
70%
in 2023
Duke Arrival Star, an endorsement of your
contributions that comes with an official Favoured Consulting and Healing -
promotion or an increment. Industries & Personal Coaches,
Sectors Psychiatrist and Therapists
The General Star is one of control and strategy.
With this, your leadership skills are being In Command mode -
recognized and compensated. It is therefor Take advantage of your
good for Rabbits to take on expanded roles, charisma and attributes to
added responsibilities or even venture out for attract the changes you wish
Career
new ventures. The Academic Star also offers for. With the positive wealth
Prospects
you personal upgrading opportunities and and control stars, you are in
learning skills this year. a good position to negotiate
The smart move to double your luck is to tap for both the compensation
and benefits.
into the superlative stars of a Dog partnership.
17Dragon in 2023
Stay positive
and optimistic
With the Sun Star on your side, Dragons must
take advantage of the activities and actions
that lie ahead in 2023. This star ranks highest
in terms of Yang energies and is considered the
most powerful Noblemen star that pulls in the
most evident results. This accounts for your
need of good plans and strategies early this
year to execute them. The Sun Star is greatly Compatibility Rooster, Rat and Monkey
enhanced with activities and the advice for
Dragons is, gather in active environment, keep Lucky September, December and
the company of positive and energetic people
Months August
and stay active, physically and mentally. The Lucky
Crimson Red and Blue
presence of this energy is its ability to dissipate Colours
most misfortunes and usually manifests as a Luck Factor
male person who acts as a Noblemen to spur, 60%
in 2023
motivate and inspire you to stretch your
abilities. Favoured Startups and Funding - Fund
Industries & Managers, Wealth Managers
Pulling Saddle Star is symbolic of one getting Sectors and Startup Entrepreneurs
ready to mount a horse for the battlefield. It
denotes travelling, looking for opportunities Collaborate wisely -
and the ability to expand one’s horizon. The networking efforts will
Dragons must be ready to explore new pay off. Polish your profile
markets and ventures in order to succeed. and articulate your
Career
You should not turn down overseas stints intentions if you wish for a
Prospects
and business travels which can add up to your move. Feel the market and
personal growth and primed for external offers. listen to the ground for
movements for gaps left by
August, September and December are great others.
times to invest.
18Snake in 2023
Year of
investments
and fast trades
With the blessings of the Sky Horse in 2023,
people born in Snake years will do well if they
are on the move. Travelling is obviously a big
factor, be it for work or leisure. Sky Horse
offers you the broadened horizon that is much
needed for your expansion and tying in with
some good energies of better connections with
Compatibility Monkey, Ox and Rooster
people, this star expands your reach to those Lucky August, January and
who are willing to help you in your quest for Months September
success.
Lucky
If you are proactive and willing to take on Sky Blue and Aquamarine
Colours
sacrifices, 2023 is a year of movements for
Snakes and thus those who are in sales and Luck Factor
65%
in 2023
jobs that are movement related are in for a
good time. Shifting into a new home, taking Insurance and Safety -
Favoured
up a new job, enrolling into a new class and Financial advisors,
Industries &
getting a promotion is often associated Underwriters and Safety
Sectors
positively with the Sky Horse. Managers
Heavenly Noble is a force that protects and Flexibility is your call -
insulates you from troubles. It does not usually Exercise your ability to fit
manifest as a person and usually makes its into roles that require
presence in random situations and difficult Career movements and travels. You
conditions. Prospects must also expect things to
move fast and your ability to
Do not take this for granted and always be
mindful to give thanks in prayers each time snag the job depends on
your dexterity.
you are bailed out of troubles.
19Horse in 2023
Happy
occasions and
inspirations
There’s much celebrations to look out for in
2023. For some, happy occasions can mean
getting married or having a child. For others, it
could be a new job or a special bonus. This
start gives you the optimism that is necessary Compatibility Goat, Tiger and Dog
in difficult times like these. Accompanied by
the Heavenly Noblemen, you should pick up Lucky September, January and
some courage to anticipate some high level of Months August
success in your endeavors. Lucky
Sky Blue and Baby Pink
The Moon Star ranks first in the gender as a Colours
Yin or female energy. It also alludes to a Luck Factor
powerful sense of inspirations and motivations. 70%
in 2023
Because it is on your side, those with the
Real Estate and Manpower -
Horse in their charts must tap into this mindset Favoured
Property Agents, HR
of sparks of new ideas, inventions, startups, Industries &
Managers and Manpower
new businesses and your determination to Sectors
Providers
succeed. The Moon Star can also show up as a
female benefactor, usually a person of good The inspirations are for real -
connections, high status and one who can Don't turn a prospect into a
make things happen. Have you got an ongoing suspect. A female and
and unresolved issue ? elderly person gives you
Career
good advice that must be
It is time for you to seek solutions in a holistic Prospects
taken seriously. If you feel
way. Be it a medical, legal or a tax problem, go
inspired to move for a
all out to seek help. If professional help comes
in the shape of a female person, then your greater cause, take it as a
challenge.
chances of solutions are doubled.
20Goat in 2023
Due for
progress and
recognition
Elegant Seal is an academic star and can be
seen as a performing energy. If you are into
any kind of entertaining or artistic capacity,
2023 is going to make you stand out from the
crowd. It benefits stage performers including
speakers, buskers, tour guides, songwriters,
authors and designers. For aspiring artistes, this Compatibility Horse, Rabbit and Pig
star also motivates and empowers your
learning capacity. Lucky
June, March and November
Months
Eight Seats Star denotes your opportunities of
breaking into the inner circles, select groups Lucky
Black and Rose Gold
and specialized roles. If you are shortlisted into Colours
the university of your choice, picked as a Luck Factor
potential successor or considered for 75%
in 2023
promotion, your chances are exponentially
Favoured Legal and Office - Civil
increased.
Industries & Service Staff, Charity
Three Stages, on the other hand, works for Sectors Providers and Lawyers
those who are employed or in business. With
Poised for upgrades -
a Goat in your chart, progress is gradual and
2023 brings you news
assured.
of promotions and
Tang Fu is the ‘bragging rights’ star that is Career achievements. This is also
associated with good status and image. If you Prospects a year of personal
are in sales and customer service roles, your enhancements or acquisition
service levels are unmatched . With the help of skills that lay the path for
of Relief God, repetitive problems can be the next five years.
resolved.
21Monkey in 2023
Recharge
and Revitalize
National Treasure is an accolade that brings
about rewards or compensation from large
scale exposures of your good work and
competence. It also points to recognition at
work and in business and as such, Monkeys
this year should go all out to showcase their
abilities in a bigger way. Appearing online,
appearing in a televised interview or being
picked up by mainstream media will give your Compatibility Snake, Rat and Dragon
identity a boost.
Lucky
Breaking up goals into smaller sizes will enable May, December and April
Months
you to achieve cumulatively and with better
frequency. This is the positive impact of the Lucky
Cool Grey and Silver
Monthly Virtue for you. The wise thing to do is Colours
to take it month to month in 2023 and when it Luck Factor
comes to resolving problems, a methodical 70%
in 2023
approach will surely yield good results.
Favoured Military and Operations –
Earth Relief is replacement energy. It firstly Industries & Commanders, Team Leaders
grounds you to your basic virtues and so, Sectors and Acquisition Managers
Monkey should keep a practical approach to
Accolades - What you have
life this year. Earth Relief also solves issue
put in in the past will come
related to real estate problems. In its physical
to fruition this year. Prepare
form, it turns into a good year for you to make
Career for recognition knockings on
repairs or upgrade your home. Besides, it also
Prospects your doors. Don't be
presents a good opportunity for those who
conservative as this will pave
wishes to go for a makeover or a change of
the way for better success in
lifestyle and personal image. Buying coffee for
2024.
Rats, Dragons and Snakes is always good.
22Rooster in 2023
Stay calm
and
consolidate
There are no apparent positive stars in your
favor. Roosters has got to get their acts
together by managing the negative stars and
then look elsewhere to ride on the good
fortune of others.
Being Rooster (Metal), you will clash out the Compatibility Dragon, Ox and Snake
Rabbit (Wood) who is the ruling year’s
Lucky
commanding star. Wood meaning wealth to April, January and May
Months
Roosters, is an attraction of adventures, social
activities, fun and indulgence. This means Lucky
Thistle Purple and White
Roosters are likely to get into some Colours
‘misfortunes’ if they are ignorant of this Luck Factor
30%
relationship. in 2023
Calamity Star relates to an environment Technology and Cyber
Favoured
mishap, financial or a health problem. Security – Programmers,
Industries &
Data Scientists and
Obstacles Star takes place because you are Sectors
Intelligence Officers
clashing out to the Rabbit in 2023. It may take
double the efforts and twice the time to Bid for time - Aggression
achieve what you aspire. Mind fogging can and impatience make you
also happen in your decision-making processes. look bad. Keep your job and
Career do it with dedication. It is
Big Consumer points to a leak of financial
Prospects not time to seek changes as
wealth. In a time of inflation and financial
your time is the Dragon
instability, the preservation of money becomes
year which will bring
more important. Safe investments with
superstardom.
professional help is ever so important in 2023.
23Dog in 2023
Use your
power
wisely and
be rewarded
Having the commanding energy behind your
back says much about your ability to call the
shots, turn in the success and benefit from
acknowledgement of all around you. This is the
work of the Grand Duke Combination Star. It
can appear as a Noblemen or someone who is Compatibility Rabbit, Tiger and Horse
in higher authority backing up your plans and Lucky
authorizing you to execute your plans. March, February and June
Months
Of the full suite, the highest-ranking star is the Lucky
Emperor Star. This star comes with charisma Silver and Lavender
Colours
and the character of a leader. With this, 2023
Luck Factor
will be a time of achievements and high status. 80%
in 2023
You should take this chance to network with
high value communities and make efforts to Favoured Management and Strategy –
speak up on your cause and support. The Industries & CEOs, Business Owners and
missing link is the proper timing and execution Sectors Career Coaches
of plans. In the driver's seat -
In comes the Dragon Virtue who will do no All eyes are on you and your
wrong in implementing what is good for you. abilities this year. Your
This star is the problem- solving star and at effectiveness and efficiency
times, dissipating the negative situations for Career are in perfect gear. 2023 is
many other auxiliary stars and further Prospects the best time for your big
enhancing others. move if you are planning it.
Don't procrastinate, grab the
A partnership with Rabbit will surely bring in
chance and put your foot in
the money. This is also the best time to invest
the door.
for the next two years.
24Pig in 2023
Save, invest
and prepare
for better
times
The Pig only has the Heavenly Kitchen or the
Chef in their favor which brings you the
enjoyment value in life. At the very least, you Compatibility Tiger, Rabbit and Goat
are assured of food on the table. The advice is
not to over-indulge and it makes certain tasks Lucky
February, March and July
such as dieting and exercising harder. Months
You will have to contend with some negative Lucky
Egyptian Blue and Green
Colours
stars. First, there is the Back Poking Star, a
socially unfriendly energy. This incites gossips, Luck Factor
40%
rumors, backstabbing and crafty politics. in 2023
Similarly, Goat Blade is a ‘Rob Wealth’ star that Favoured Finance and Accounting –
acts against your personal interests. It shows Industries & CFOs, Auditors and Tax
up as friends, partners, colleagues, followers, Sectors Officers
fans, and even siblings who takes away your Enjoyment comes later - The
assets and belongings. first half of the year is crucial
Sky Warrior is another socially aggressive star. for the pace of your work.
This one instigates others to stage Do not slack as this can put
competitions against you and in aggressive Career your position into
manners too. You must not be drawn into Prospects redundancy. If all is done
equal confrontations as you will surely lose out. well, your efforts will be
Instead, focus your energies into smart seen as a loyalty and the
solutions to problems. Sky Warrior often draws rewards that follow will be
you into battles out of ego. surprisingly good.
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Suhaimi I., C. Hak Bin & Saktiandi S. Thilan Wickramasinghe Anand Pathmakanthan C. Hak Bin, Saktiandi S. & Winson P.
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Brought to you by Maybank Investment
Banking Group’s Research team
27This information is a collaborative effort between Maybank
Securities and House Of Feng Shui, and remains the intellectual
property of House Of Feng Shui and Maybank Securities.
Master Ken Koh is the author of the “2023 Chinese Almanac:
Auspicious Days”. Contact the author for a copy which retails
at SGD38.00.
www.hofs.sg | ken@hofs.sg | 90181908
28Disclaimers
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30Research Offices
ECONOMICS REGIONAL EQUITIES SINGAPORE INDONESIA
Suhaimi ILIAS Anand PATHMAKANTHAN Thilan WICKRAMASINGHE Head of Research Jeffrosenberg CHENLIM Head of Research
Chief Economist Head of Regional Equity Research (65) 6231 5840 thilanw@maybank.com (62) 21 8066 8680
Malaysia | Philippines | Global (603) 2297 8783 • Banking & Finance - Regional Jeffrosenberg.lim@maybank.com
(603) 2297 8682 anand.pathmakanthan@maybank-ib.com • Consumer • Strategy • Banking & Finance
suhaimi_ilias@maybank-ib.com
WONG Chew Hann, CA Eric ONG
Willy GOUTAMA
CHUA Hak Bin Head of ASEAN Equity Research (65) 6231 5924 ericong@maybank.com
(62) 21 8066 8500
Regional Thematic Macroeconomist (603) 2297 8686 • Healthcare • Transport • SMIDs
willy.goutama@maybank.com
(65) 6231 5830 wchewh@maybank-ib.com
• Consumer
Kelvin TAN
chuahb@maybank.com
MALAYSIA (65) 6231 5837 kelvintan1@maybank.com
Richard SUHERMAN
• Telcos • Industrials
LEE Ju Ye Anand PATHMAKANTHAN Head of Research (62) 21 8066 8691
Singapore | Thailand | Indonesia (603) 2297 8783 richard.suherman@maybank.com
LI Jialin
(65) 6231 5844 anand.pathmakanthan@maybank-ib.com • Metals & Mining
(65) 6231 5845 jialin.li@maybank.com
leejuye@maybank.com • Strategy
• REITs
Etta Rusdiana PUTRA
Dr Zamros DZULKAFLI WONG Chew Hann, CA (62) 21 8066 8683
Jarick SEET
(603) 2082 6818 (603) 2297 8686 etta.putra@maybank.com
(65) 6231 5848 jarick.seet@maybank.com
zamros.d@maybank-ib.com wchewh@maybank-ib.com • Telcos
• Technology
• Non-Bank Financials (stock exchange)
Fatin Nabila MOHD ZAINI • Construction & Infrastructure Satriawan, CTA
PHILIPPINES
(603) 2297 8685 (62) 21 8066 8682
fatinnabila.mohdzaini@maybank-ib.com Desmond CH’NG, BFP, FCA Jacqui de JESUS Head of Research satriawan@maybank.com
(603) 2297 8680 (63) 2 8849 8840 • Chartist
Brian LEE Shun Rong desmond.chng@maybank-ib.com jacqui.dejesus@maybank.com
(65) 6231 5846 • Banking & Finance • Strategy • Conglomerates VIETNAM
brian.lee1@maybank.com Quan Trong Thanh Head of Research
LIAW Thong Jung Rachelleen RODRIGUEZ, CFA
(84 28) 44 555 888 ext 8184
Luong Thu Huong (603) 2297 8688 tjliaw@maybank-ib.com (63) 2 8849 8843
thanh.quan@maybank.com
(65) 6231 8467 • Oil & Gas Services- Regional rachelleen.rodriguez@maybank.com
• Strategy • Banks
hana.thuhuong @maybank.com • Automotive • Banking & Finance • Transport • Telcos
Hoang Huy, CFA
FX ONG Chee Ting, CA Daphne SZE
(84 28) 44 555 888 ext 8181
(603) 2297 8678 ct.ong@maybank-ib.com (63) 2 8849 8847
Saktiandi SUPAAT hoanghuy@maybank.com
• Plantations - Regional daphne.sze@maybank.com
Head of FX Research • Strategy • Technology
• Consumer
(65) 6320 1379
YIN Shao Yang, CPA
saktiandi@maybank.com Le Nguyen Nhat Chuyen
(603) 2297 8916 samuel.y@maybank-ib.com Miguel SEVIDAL
(84 28) 44 555 888 ext 8082
• Gaming – Regional (63) 2 8849 8844
Fiona LIM chuyen.le@maybank.com
• Media • Aviation • Non-Bank Financials miguel.sevidal@maybank.com
(65) 6320 1374 • Oil & Gas • Logistics
• REITs • Property • Gaming
fionalim@maybank.com
TAN Chi Wei, CFA
Nguyen Thi Sony Tra Mi
(603) 2297 8690 chiwei.t@maybank-ib.com Fiorenzo de JESUS
Alan Lau (84 28) 44 555 888 ext 8084
• Power • Telcos (63) 2 8849 8846
(65) 6320 1378 trami.nguyen@maybank.com
fiorenzo.dejesus@maybank.com
alanlau@maybank.com • Consumer Discretionary
WONG Wei Sum, CFA • Utilities
(603) 2297 8679 weisum@maybank-ib.com
Shaun Lim Tran Thi Thanh Nhan
• Property • Glove THAILAND
(65) 6320 1371 (84 28) 44 555 888 ext 8088
shaunlim@maybank.com Jesada TECHAHUSDIN, CFA nhan.tran@maybank.com
Jade TAM
(66) 2658 6300 ext 1395 • Consumer Staples
(603) 2297 8687 jade.tam@maybank-ib.com
STRATEGY jesada.t@maybank.com
• Consumer Staples & Discretionary
• Banking & Finance Nguyen Le Tuan Loi
Anand PATHMAKANTHAN
(84 28) 44 555 888 ext 8088
ASEAN Nur Farah SYIFAA
Yuwanee PROMMAPORN loi.nguyen@maybank.com
(603) 2297 8783 (603) 2297 8675
(66) 2658 6300 ext 1393 • Industrials
anand.pathmakanthan@maybank-ib.com nurfarahsyifaa.mohamadfuad@maybank-ib.com
Yuwanee.P@maybank.com
• Renewable Energy • REITs
• Services • Healthcare Nguyen Thi Ngan Tuyen
FIXED INCOME Head of Retail Research
Arvind JAYARATNAM
Winson PHOON, FCA Wasu MATTANAPOTCHANART (84 28) 44 555 888 ext 8081
(603) 2297 8692
Head of Fixed Income (66) 2658 6300 ext 1392 tuyen.nguyen@maybank.com
arvind.jayaratnam@maybank.com
(65) 6340 1079 wasu.m@maybank.com • Retail Research
• Petrochemicals • Technology
winsonphoon@maybank.com • Telcos
Nguyen Thanh Lam
Shafiq KADIR, CFA
Surachai PRAMUALCHAROENKIT (84 28) 44 555 888 ext 8086
SE THO Mun Yi, CFA (603) 2297 8691
(66) 2658 5000 ext 1470 thanhlam.nguyen@maybank.com
(603) 2074 7606 msshafiqk.abkadir@maybank-ib.com
Surachai.p@maybank.com • Chartist
munyi.st@maybank-ib.com • Healthcare • Software
• Auto • Conmat • Contractor • Steel
PORTFOLIO STRATEGY LOH Yan Jin
Suttatip PEERASUB
(603) 2297 8687
CHAN Han Chin (66) 2658 5000 ext 1430
lohyanjin.loh@maybank-ib.com
(603) 2297 8888 suttatip.p@maybank.com
• Ports • Shipping
hanchin.chan@maybank-ib.com • Food & Beverage • Commerce
Eugene HOO Yee Hui
Jaroonpan WATTANAWONG
ONG Seng Yeow (603) 2082 6819
(66) 2658 5000 ext 1404
(65) 6231 5839 eugene.hoo@maybank.com
jaroonpan.w@maybank.com
ongsengyeow@maybank.com •
• Transportation • Small cap
MIBG SUSTAINABILITY RESEARCH TEE Sze Chiah Head of Retail Research
Jigar SHAH (603) 2082 6858 szechiah.t@maybank-ib.com
Head of Sustainability Research • Retail Research
(91) 22 4223 2632
Nik Ihsan RAJA ABDULLAH, MSTA, CFTe
jigars@maybank.com
(603) 2297 8694
nikmohdihsan.ra@maybank-ib.com
Neerav DALAL
• Chartist
(91) 22 4223 2606
neerav@maybank.com
Amirah AZMI
(603) 2082 8769 amirah.azmi@maybank-ib.com
• Retail Research
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