Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Thematic (Sector/Industry)

<ul class=""><li>Fast food registered current value growth of 13% to reach THB210.0 billion in 2017.</li><li>In 2017, new international brands contributed to stronger current value growth.</li><li>Convenience stores' fast food recorded the highest current value growth of 15%.</li><li><a href="https://www.smartkarma.com/entities/13889" target="_blank" data-smartkarma-citation="entities:13889:1">CP All PCL (CPALL TB)</a> continued to dominate and accounted for 64% of value sales.</li><li>Fast food is expected to register a value CAGR of 6% at constant 2017 prices over the forecast period to reach THB276.0 billion in 2022.</li></ul>

Fast food registered current value growth of 13% to reach THB210.0 billion in 2017.In 2017, new international brands contributed to stronger current value growth.Convenience stores' fast food recorded the highest current value growth of 15%.CP All PCL (CPALL TB) continued to dominate and accounted for 64% of value sales.Fast food is expected to register a value CAGR of 6% at constant 2017 prices over the forecast period to reach THB276.0 billion in 2022.

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).

The World Cup in Russia approaches. Most "Thai-Coons" will probably be too busy to watch it, but that doesn't mean they won't be celebrating all the money flowing into their coffers. MCorp Review identified three of them, namely the CP Group, Charoen's TCC Group, and Central Group, which control stocks that have most to gain, as well as some honorable mentions for those lesser Thai-Coons who get a piece of the action. OK, time for the kickoff! FIFA has once ranked Thailand as one of the top 10…

The World Cup in Russia approaches. Most "Thai-Coons" will probably be too busy to watch it, but that doesn't mean they won't be celebrating all the money flowing into their coffers. MCorp Review identified three of them, namely the CP Group, Charoen's TCC Group, and Central Group, which control stocks that have most to gain, as well as some honorable mentions for those lesser Thai-Coons who get a piece of the action. OK, time for the kickoff! FIFA has once ranked Thailand as one of the top 10…

<ul><li>In 2017, convenience stores saw current value growth of 4%, to reach THB339.0 billion</li><li>7-Eleven introduces QR code payment via the TrueMoney e-wallet</li><li>CP All lead convenience stores with an 80% retail value share in 2017</li><li>Convenience stores is projected to see a value CAGR of 4% at constant 2017 prices over the forecast period, to reach THB405.7 billion in 2022</li></ul>

In 2017, convenience stores saw current value growth of 4%, to reach THB339.0 billion7-Eleven introduces QR code payment via the TrueMoney e-walletCP All lead convenience stores with an 80% retail value share in 2017Convenience stores is projected to see a value CAGR of 4% at constant 2017 prices over the forecast period, to reach THB405.7 billion in 2022

Sector Capsule: Convenience Stores in Thailand

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

This week in StubWorld …<a href="https://www.smartkarma.com/entities/6089" target="_blank">Hyundai Mobis Co Ltd (012330 KS)</a> is front and center in Hyundai Motor Group's Spinoff Merger, however, <a href="https://www.smartkarma.com/entities/16963" target="_blank" data-smartkarma-citation="entities:16963:1">Hyundai Glovis Co Ltd (086280 KS)</a> has a pivotal role to play.These stub relationships trade with: 1) a minimum liquidity threshold of US$1mn on a 90-day moving average; and 2) a minimum 20% 'market capitalisation' threshold, whereby the value of the holding/opco held must be at least 20% of the parent's market cap.A detailed NAV for a number of these parent/holding relationships highlighted can be found in our Holdco monitor.My comments on Mobis/Glovis follow the weekly setup/unwind tables.

This week in StubWorld …Hyundai Mobis Co Ltd (012330 KS) is front and center in Hyundai Motor Group's Spinoff Merger, however, Hyundai Glovis Co Ltd (086280 KS) has a pivotal role to play.These stub relationships trade with: 1) a minimum liquidity threshold of US$1mn on a 90-day moving average; and 2) a minimum 20% 'market capitalisation' threshold, whereby the value of the holding/opco held must be at least 20% of the parent's market cap.A detailed NAV for a number of these parent/holding relationships highlighted can be found in our Holdco monitor.My comments on Mobis/Glovis follow the weekly setup/unwind tables.

StubWorld: Mobis & Glovis Spinoff Merger

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

MAKRO TB's major shareholder CP All Group is selling down 3.4% of the shares outstanding of MAKRO after market close today. CP All Group acquired its stake in MAKRO in 2013. Since then it has been a question whether investors like the combined 7-11 chain and wholesaler MAKRO chain. With the positive movement of the share price of MAKRO in recent days, CP All Group's placement appears to signal that its long-dated sell-down of MAKRO stake kicks off and it plans to return to 7-11 as its core…

MAKRO TB's major shareholder CP All Group is selling down 3.4% of the shares outstanding of MAKRO after market close today. CP All Group acquired its stake in MAKRO in 2013. Since then it has been a question whether investors like the combined 7-11 chain and wholesaler MAKRO chain. With the positive movement of the share price of MAKRO in recent days, CP All Group's placement appears to signal that its long-dated sell-down of MAKRO stake kicks off and it plans to return to 7-11 as its core…

CP All Group / MAKRO - Barely Breaks Even After 4 Years

Thailand

CP ALL PCL operates convenience store chains in Thailand and China.  The Company also owns and operates the a department store chain located primarily in Shanghai city and Chonqing city of China.

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CP ALL PCL (CPALL TB)

Sector Capsule: Fast Food in Thailand

Fast food registered current value growth of 13% to reach THB210.0 billion in 2017. In 2017, new international brands contributed to stronger...

Euromonitor International Ltd.

World Cup & Thai-Coons

The World Cup in Russia approaches. Most "Thai-Coons" will probably be too busy to watch it, but that doesn't mean they won't be celebrating all...

Athaporn Arayasantiparb, CFA

Sector Capsule: Convenience Stores in Thailand

In 2017, convenience stores saw current value growth of 4%, to reach THB339.0 billion 7-Eleven introduces QR code payment via the TrueMoney...

Euromonitor International Ltd.

StubWorld: Mobis & Glovis Spinoff Merger

This week in StubWorld …Hyundai Mobis Co Ltd (012330 KS) is front and center in Hyundai Motor Group's Spinoff Merger, however, Hyundai Glovis Co...

David Blennerhassett

CP All Group / MAKRO - Barely Breaks Even After 4 Years

MAKRO TB's major shareholder CP All Group is selling down 3.4% of the shares outstanding of MAKRO after market close today. CP All Group acquired...

Ke Yan, CFA, FRM

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