CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

<ul>
<li>We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology</li>
<li>Six stocks remain, and eight stocks added to our portfolio</li>
<li>Since its inception, the portfolio has generated a before-fee total return of 177% versus MSCI ASEAN’s 25%</li>
</ul>


We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology
Six stocks remain, and eight stocks added to our portfolio
Since its inception, the portfolio has generated a before-fee total return of 177% versus MSCI ASEAN’s 25%


Equity Bottom-Up

<ul>
<li>We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Nine stocks remain, and five new join the fray</li>
<li>Since inception, it has gained 105% versus the SET 100 Index’s return of 38%</li>
</ul>


We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
Portfolio changes: Nine stocks remain, and five new join the fray
Since inception, it has gained 105% versus the SET 100 Index’s return of 38%


The Stocks to Own in Thailand – Vol. 39

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Bangkok Expressway and Metro / Equity Bottom-Up

<ul>
<li>Q2 22 result was healthy derived from both increase in ridership as well as ASP in both expressway and rail. </li>
<li>Cost increase but not as high as revenue increase therefore margin expanded while net profit went up 3x YoY. 2H 2022 will be even better. </li>
<li>Compared to AOT, BEM's PBR is 63% cheaper while its share price still underperformed AOT this year by 11%. </li>
</ul>


Q2 22 result was healthy derived from both increase in ridership as well as ASP in both expressway and rail. 
Cost increase but not as high as revenue increase therefore margin expanded while net profit went up 3x YoY. 2H 2022 will be even better. 
Compared to AOT, BEM's PBR is 63% cheaper while its share price still underperformed AOT this year by 11%. 


Bangkok Express and Metro (BEM): Marching On

<ul>
<li>HK reopening is debatable and seems to be very hard to predict as the Chinese government is keen to keep zero COVID stands although recent quarantine time reduction is positive. </li>
<li>The number of passengers remains weak although the shorter quarantine reduction could provide short-term relief to the share price. </li>
<li>Valuation looks undemanding compared to the peers although the outlook is more uncertain. Stay out for now. </li>
</ul>


HK reopening is debatable and seems to be very hard to predict as the Chinese government is keen to keep zero COVID stands although recent quarantine time reduction is positive. 
The number of passengers remains weak although the shorter quarantine reduction could provide short-term relief to the share price. 
Valuation looks undemanding compared to the peers although the outlook is more uncertain. Stay out for now. 


<ul>
<li>The reopening story in Thailand is here to stay as this insight brings some on-the-ground observation during the recent long weekend. </li>
<li>
<a href="https://www.smartkarma.com/entities/airports-of-thailand-pcl" target="_blank" data-smartkarma-citation="entities:239:1" rel="noopener">Airports of Thailand (AOT TB)</a> reported an increase in the number of overseas tourists arrival indicating the truthfulness of the tourism recovery in Thailand. </li>
<li>Other beneficiaries include <a href="https://www.smartkarma.com/entities/bangkok-expressway-and-metro-68c0c1b3-af0c-4380-a380-f3dc7ba5d5ac" target="_blank" data-smartkarma-citation="entities:22849:1" rel="noopener">Bangkok Expressway and Metro (BEM TB)</a> , <a href="https://www.smartkarma.com/entities/siam-wellness-group-pcl" target="_blank" data-smartkarma-citation="entities:3765:1" rel="noopener">Siam Wellness Group (SPA TB)</a> , and <a href="https://www.smartkarma.com/entities/thai-beverage-pcl" target="_blank" data-smartkarma-citation="entities:3656:1" rel="noopener">Thai Beverage (THBEV SP)</a> .</li>
</ul>


The reopening story in Thailand is here to stay as this insight brings some on-the-ground observation during the recent long weekend. 

Airports of Thailand (AOT TB) reported an increase in the number of overseas tourists arrival indicating the truthfulness of the tourism recovery in Thailand. 
Other beneficiaries include Bangkok Expressway and Metro (BEM TB) , Siam Wellness Group (SPA TB) , and Thai Beverage (THBEV SP) .


Thailand Reopening: Tourist Traffic Increase Beneficiaries

Thailand

Bangkok Expressway and Metro PCL is a transportation company. The Company combines toll and metro line networks. Bangkok Expressway and Metro is based in Thailand.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Bangkok Expressway and Metro (BEM TB)

The Stocks to Own in ASEAN – Vol. 41

We highlight 14 stocks in ASEAN that look interesting to us based on our FVMR Methodology. Portfolio changes: Six stocks remain, eight stocks added.

A. Stotz Investment Research

The Stocks to Own in Thailand – Vol. 39

We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology. Portfolio changes: Nine stocks remain, five new join...

A. Stotz Investment Research

Bangkok Express and Metro (BEM): Marching On

The early sign of recovery is there and BEM has proven that it participates and does not lag behind the improvement in the ridership recovery as...

Henry Soediarko

MTR (66): Open or Closed?

The Chinese government is to reduce the quarantine period may bring some positive sentiment to MTR but the border between China and HK remains...

Henry Soediarko

Thailand Reopening: Tourist Traffic Increase Beneficiaries

Chinese zero COVID policy dampens the growth and recovery story, but the travel recovery in South East Asia in Thailand is favored as a holiday...

Henry Soediarko

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)