Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Asean (Thailand) Focused Independent Research

M Corp Review

M Corp is led by Athaporn Arayasantiparb who served as Head of Research for UOB and ANZ in Thailand and was an award-winning telecoms analyst at UBS in 2010 (AsiaMoney Thailand category) and Regional Strategist for DMG in Singapore. Prior to that, he also served as Kasikornbank credit analyst and scholar. He has a total work experience of 17 years, of which 14 were in research and 4 in research management roles. He started his career as an engineer for PTT and currently manages family investments. He holds an MBA from Stern (NYU) and CFA Charter since 2006. Apart from IPO Radar, which focuses on future listings, MCorp Review also provides six on-going thematic series ranked by frequency in descending order, namely: 1) Silicon Stories (technology) 2) Sathorn Series (financial services) 3) Thai-Coons (billionaire origin stories) 4) Reality Check (data-driven, investigative) 5) Thai Media Spotlight; and 6) Thai Macro Watch (global market drivers).

Equity Capital Markets

Asset World Corporation / Equity Capital Markets

Chareon's TCC Group is planning to launch the IPO of AWC or Asset World Corporation sometime later this year. Unless CDS (Central Department Stores) gets listed this year too, AWC is likely to be the year's top IPO ahead of PTTOR, which includes Amazon Coffee. In the first part of this series, we'll talk about the component businesses and leave the valuations and risk for later, since it's a pretty complex mix of business we got here:<ul>
<li>
Hotel. The biggest part of the group currently includes 12 properties. Trademark names include Plaza Athenee and Okura Prestige both on Wireless Road and the Banyan Tree on Sathorn Road. On top  of this, there are plans to expand into 13 other properties (5 owned, 8 leased).</li>
<li>
Commercial property includes Panthip Plaza, famed for pirated software. The AEC Trade Center, which should add another 145,219 of retail space, is the main expansion plan.</li>
<li>
Offices includes the remainder. Granted, there is less plan for expansion here, but they have pricing power and have been able to raise rates by 5% annually. Also, the buildings in this part of the biz is very prestigious. Think Athenee Tower (which houses both ANZ and Deutsche), the humongous Empire Tower on Sathorn Road, and the Interlink Tower, which recently went through refurbishment.</li>
</ul>

Chareon's TCC Group is planning to launch the IPO of AWC or Asset World Corporation sometime later this year. Unless CDS (Central Department Stores) gets listed this year too, AWC is likely to be the year's top IPO ahead of PTTOR, which includes Amazon Coffee. In the first part of this series, we'll talk about the component businesses and leave the valuations and risk for later, since it's a pretty complex mix of business we got here:

Hotel. The biggest part of the group currently includes 12 properties. Trademark names include Plaza Athenee and Okura Prestige both on Wireless Road and the Banyan Tree on Sathorn Road. On top  of this, there are plans to expand into 13 other properties (5 owned, 8 leased).

Commercial property includes Panthip Plaza, famed for pirated software. The AEC Trade Center, which should add another 145,219 of retail space, is the main expansion plan.

Offices includes the remainder. Granted, there is less plan for expansion here, but they have pricing power and have been able to raise rates by 5% annually. Also, the buildings in this part of the biz is very prestigious. Think Athenee Tower (which houses both ANZ and Deutsche), the humongous Empire Tower on Sathorn Road, and the Interlink Tower, which recently went through refurbishment.


IPO Radar: AWC (Part I), Possibly the Biggest IPO in 2019

Thailand

Asset World Corp Public Company Limited focuses on real estate development and investment services. The Company offers property management. Asset World Corp serves customers in Thailand.

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Asset World Corporation (AWC TB)

IPO Radar: AWC (Part I), Possibly the Biggest IPO in 2019

Chareon's TCC Group is planning to launch the IPO of AWC or Asset World Corporation sometime later this year. Unless CDS (Central Department...

Athaporn Arayasantiparb, CFA

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