I live just -6 degrees south of the equator, in Jakarta, Indonesia so we pretty much ride in the same climate.
I commute every day on my bike and, out of several jackets that I have, the jacket that is the most comfortable to wear is a mesh jacket. I wear a Dainese Air Frame jacket or a Levi's trucker jacket and forcefield strap-on arm protector. The mesh jacket still feels warm when stopping in traffic light (the jeans jacket is hotter) but once moving, even in a slow stop-and-go traffic jam, the mesh works and it's cold.
But I only wear the mesh jacket for commuting. For weekend rides or long rides, I wear my Alpinestars perforated leather jacket. As for pants, I wear office pants with forcefield strap-on knee protector and on weekend I just wear my jeans.
Now, rain gear. I hate rain gear when commuting. It makes it really hot in a stop-and-go traffic. So I only wear the rain pants and leave the upper (rain jacket) at home. I carry a shirt in a tail bag and I always change in the office, so if it rains and I get wet, it doesn't really matter, I always change in the office anyway.