Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Thematic (Sector/Industry)

In 2017, Halloween falls on October 31, and Loy Krathong falls on November 4. We will be ignoring Thanksgiving, since it has no impact on Thailand. Given its deep America-specific roots, it hasn't made an impact as these two:<ul><li>
Halloween has roots in Roman times. Theoretically, ghosts are supposed to come out. Kids dress up as ghosts or monsters, though these days, weird costumes like Batman are acceptable too. Then, they go out asking Trick or Treat, so you're supposed to buy them candy. In…</li></ul>

In 2017, Halloween falls on October 31, and Loy Krathong falls on November 4. We will be ignoring Thanksgiving, since it has no impact on Thailand. Given its deep America-specific roots, it hasn't made an impact as these two:
Halloween has roots in Roman times. Theoretically, ghosts are supposed to come out. Kids dress up as ghosts or monsters, though these days, weird costumes like Batman are acceptable too. Then, they go out asking Trick or Treat, so you're supposed to buy them candy. In…

Revenge of the Sidh. On Tuesday, a bomb went out in Pattani at Big C hypermarket, one of the small province's most popular places to congregate. Moments later, another bomb went out at same location. There were 56 injured (wouldn't be surprised if most of them were Muslims given the province's population composition). We don't know how many casualties there are yet, because it's always possible that people die from their wounds couple of days or weeks later. Despite the relatively large damage…

Revenge of the Sidh. On Tuesday, a bomb went out in Pattani at Big C hypermarket, one of the small province's most popular places to congregate. Moments later, another bomb went out at same location. There were 56 injured (wouldn't be surprised if most of them were Muslims given the province's population composition). We don't know how many casualties there are yet, because it's always possible that people die from their wounds couple of days or weeks later. Despite the relatively large damage…

South Series (Part 3): Big C Bombing...Ouch!

Over the past 20 years, Thailand faced two financial crisis, namely Tom Yum Goong in 1997 and Lehman in 2008. Discounting the political nonsense that is just part of life down here, we think there are five important lessons to take away, regarding: 1) the importance of investors; 2) liabilities-cash flow matching; 3) sticking to core competencies as well as avoiding : 4) currency pegs to dollars (or any currency); and 5) capital controls. No event in Thai business history has transformed the landscape more than the 1997 crisis. In this review, we highlight a few anecdotes of those who survived and those who didn't (at least not in their original forms).

Over the past 20 years, Thailand faced two financial crisis, namely Tom Yum Goong in 1997 and Lehman in 2008. Discounting the political nonsense that is just part of life down here, we think there are five important lessons to take away, regarding: 1) the importance of investors; 2) liabilities-cash flow matching; 3) sticking to core competencies as well as avoiding : 4) currency pegs to dollars (or any currency); and 5) capital controls. No event in Thai business history has transformed the landscape more than the 1997 crisis. In this review, we highlight a few anecdotes of those who survived and those who didn't (at least not in their original forms).

Five Biggest Lessons from Thai Financial Crisis

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

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§  The SGX Maritime &amp; Offshore Services (MOE) Index, a benchmark for the MOE Sector, has rebounded 19.7% from its trough on 1 Sep 2016 in tandem with the recovery of crude oil prices, which may be an indication that the sector could be bottoming out.
 
§  Despite the rally, the 18 constituents within the SGX MOE Index are trading at an average current price-to-book (PB) ratio of 0.7x, with 10 of them trading below their book values.
 
§  Consensus estimates are expecting oil prices to stabilise and…
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§  The SGX Maritime &amp; Offshore Services (MOE) Index, a benchmark for the MOE Sector, has rebounded 19.7% from its trough on 1 Sep 2016 in tandem with the recovery of crude oil prices, which may be an indication that the sector could be bottoming out.
 
§  Despite the rally, the 18 constituents within the SGX MOE Index are trading at an average current price-to-book (PB) ratio of 0.7x, with 10 of them trading below their book values.
 
§  Consensus estimates are expecting oil prices to stabilise and…



SGX's MOE Sector Sustains 4Q16 Momentum into 2017

Equity Bottom-Up

Gong Xi Fa Cai! In this review, we highlight some of the companies (stocks) that could benefit from the Chinese New Year starting this week. In general, they can be divided into two themes, namely: 1) the shopping theme, which revolves around food, retailers, and some petrochemical stocks whose product can be used in the celebration (ie IVL); and 2) the tourism theme, which includes the airlines, airport operator AOT, and low-cost hotels like Erawan. Once again, these are not necessarily stocks endorsed by MCorp Review. We are just highlighting the ones that have exposure to Chicken...I mean Chinese... New Year yo. The banks may have trouble filling their ATM machines in time, and no bank serves more retail depositors than SCB.Wishing everyone of you who reads this become a billionaire this year....but that would really lead to a stock market bubble yo!! Xian Nian Kwai Ler!! Haha...

Gong Xi Fa Cai! In this review, we highlight some of the companies (stocks) that could benefit from the Chinese New Year starting this week. In general, they can be divided into two themes, namely: 1) the shopping theme, which revolves around food, retailers, and some petrochemical stocks whose product can be used in the celebration (ie IVL); and 2) the tourism theme, which includes the airlines, airport operator AOT, and low-cost hotels like Erawan. Once again, these are not necessarily stocks endorsed by MCorp Review. We are just highlighting the ones that have exposure to Chicken...I mean Chinese... New Year yo. The banks may have trouble filling their ATM machines in time, and no bank serves more retail depositors than SCB.Wishing everyone of you who reads this become a billionaire this year....but that would really lead to a stock market bubble yo!! Xian Nian Kwai Ler!! Haha...

Thailand

Berli Jucker PCL is a large Thai conglomerate whose business spans various industries. The Company's operations include the distribution and manufacturing of its own products plus contract distribution and manufacturing for other firms. BJC's core lines of business are packaging, consumer, healthcare, technical and other businesses.

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Berli Jucker (BJC TB)

Investing for Halloween and Loy Kratong

In 2017, Halloween falls on October 31, and Loy Krathong falls on November 4. We will be ignoring Thanksgiving, since it has no impact on Thailand....

Athaporn Arayasantiparb, CFA

South Series (Part 3): Big C Bombing...Ouch!

Revenge of the Sidh. On Tuesday, a bomb went out in Pattani at Big C hypermarket, one of the small province's most popular places to congregate....

Athaporn Arayasantiparb, CFA

Five Biggest Lessons from Thai Financial Crisis

Over the past 20 years, Thailand faced two financial crisis, namely Tom Yum Goong in 1997 and Lehman in 2008. Discounting the political nonsense...

Athaporn Arayasantiparb, CFA

SGX's MOE Sector Sustains 4Q16 Momentum into 2017

§ The SGX Maritime & Offshore Services (MOE) Index, a benchmark for the MOE Sector, has rebounded 19.7% from its trough on 1 Sep 2016 in...

Singapore Exchange Ltd (SGX)

Momentum Stocks for the Chicken New Year

Gong Xi Fa Cai! In this review, we highlight some of the companies (stocks) that could benefit from the Chinese New Year starting this week. In...

Athaporn Arayasantiparb, CFA

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