Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

REAL-Economics.com

Macroeconomics

-The oil majors' favourite refining hub in ASEAN is Singapore, while the crude-oil/gas comes mainly from Indonesia, Malaysia and Brunei. Infusion of Saudi capital will help to partially redress that, although Saudi Arabia is only the 7th largest oil-refining country, and ARAMCO has moderate amounts of technological expertise (mainly from its ownership of S-Oil in Korea). -Malaysia and (especially) Indonesia have been wary of "Arabised" or Wahhabi Islam, and see Saudi offers to widen Arabic…

-The oil majors' favourite refining hub in ASEAN is Singapore, while the crude-oil/gas comes mainly from Indonesia, Malaysia and Brunei. Infusion of Saudi capital will help to partially redress that, although Saudi Arabia is only the 7th largest oil-refining country, and ARAMCO has moderate amounts of technological expertise (mainly from its ownership of S-Oil in Korea). -Malaysia and (especially) Indonesia have been wary of "Arabised" or Wahhabi Islam, and see Saudi offers to widen Arabic…

King Salman Bearing Gifts: Implications for ASEAN, Oil-Refining and Religion

Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Thematic (Sector/Industry)

In this review, we highlight the importance for investors to: 1) not 'jump the gun' and sell on companies that are in decline; and 2) think logically about the macro picture, since those may have an impact on whether companies can recover or would lose relevance in the marketplace altogether.From our observations, the companies in Thailand that do turn around tend to follow one or more of these four measures, namely: 1) operations: a complete transformation rather than minor patch-ups (eg. KARMART, IVL); 2) competitive strategy: changing the frame of reference (PIZZA...now part of MINT); 3) debt restructuring (BLAND, TPI); and 4) marketing: re-branding (eg. DTAC, BTS). Whether you are stuck with certain investments or thinking about investing in potential turnaround plays, observing these four traits or steps could be helpful.

In this review, we highlight the importance for investors to: 1) not 'jump the gun' and sell on companies that are in decline; and 2) think logically about the macro picture, since those may have an impact on whether companies can recover or would lose relevance in the marketplace altogether.From our observations, the companies in Thailand that do turn around tend to follow one or more of these four measures, namely: 1) operations: a complete transformation rather than minor patch-ups (eg. KARMART, IVL); 2) competitive strategy: changing the frame of reference (PIZZA...now part of MINT); 3) debt restructuring (BLAND, TPI); and 4) marketing: re-branding (eg. DTAC, BTS). Whether you are stuck with certain investments or thinking about investing in potential turnaround plays, observing these four traits or steps could be helpful.

Turnarounds: Finding A Phoenix In the Land of the Dead

Equity Bottom-Up

A Rockefeller Legacy. Like many countries in Asia, oil &amp; gas, which was a state-of-the-art technology when it started, wasn't started by some local wildcatter. The first folks to do oil business here down here wasn't PTT ( <a href="https://www.smartkarma.com/insights/big-brother-season-premiere-empire-of-oil" target="_blank" data-smartkarma-citation="insights:7511">Big Brother (Season Premiere): Empire of Oil</a>), but might names that didn't need an introduction like Shell-Wellcome and Standard Oil, the American oil monopolist founded by John D. Rockefeller aka richest man in the world. Since then, Shell got out of the refinery business but…

A Rockefeller Legacy. Like many countries in Asia, oil &amp; gas, which was a state-of-the-art technology when it started, wasn't started by some local wildcatter. The first folks to do oil business here down here wasn't PTT ( Big Brother (Season Premiere): Empire of Oil), but might names that didn't need an introduction like Shell-Wellcome and Standard Oil, the American oil monopolist founded by John D. Rockefeller aka richest man in the world. Since then, Shell got out of the refinery business but…

A Rockefeller Legacy - Gas Station Opertators in Thailand Are Cheap but Don't Catch a Falling Knife

The East-West Collision Course. Today on the local World &amp; Economic Times program on Spring News Channel 11, Professor Manarangsan gave an interview regarding Rex Tillerson, the incredible Exxon Mobil former CEO who just edged out both Mitt Romney (the 2012 Presidential hopeful) and Rudy Guliani (a popular New York mayor) for the prestigious Secretary of State job. The two couldn't have been more different. Rex ran the world's largest energy company from his perch in Texas. Few companies can…

 The East-West Collision Course. Today on the local World &amp; Economic Times program on Spring News Channel 11, Professor Manarangsan gave an interview regarding Rex Tillerson, the incredible Exxon Mobil former CEO who just edged out both Mitt Romney (the 2012 Presidential hopeful) and Rudy Guliani (a popular New York mayor) for the prestigious Secretary of State job. The two couldn't have been more different. Rex ran the world's largest energy company from his perch in Texas. Few companies can…

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.

SGX lists four Upstream Coal Plays: Geo Energy Resources, Resources Prima Group, BlackGold Natural Resources and Golden Energy &amp; Resources.Geo Energy Resources has been the strongest performer among the four upstream plays in the 2016 year to date with a 37.9% gain. On 12 August,  Geo Energy Group reported that for the six months ending 30 June 2016, company revenue was US$33 million compared to US$10 million for the same period a year ago.

SGX lists four Upstream Coal Plays: Geo Energy Resources, Resources Prima Group, BlackGold Natural Resources and Golden Energy &amp; Resources.Geo Energy Resources has been the strongest performer among the four upstream plays in the 2016 year to date with a 37.9% gain. On 12 August,  Geo Energy Group reported that for the six months ending 30 June 2016, company revenue was US$33 million compared to US$10 million for the same period a year ago.

Geo Energy Resources Led Upstream Coal Plays in 2016 YTD

Thailand

Esso Thailand PCL is a fully integrated oil business, including oil refinery and production. The Company provides liquefied petroleum gas (LPG), gasoline, aviation fuel, diesel, marine fuel, lubricants, aromatic products and other related products such as purified terephthalic acid (PTA), solvents, plasticizers, and benzene concentrate stream.

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Esso Thailand (ESSO TB)

King Salman Bearing Gifts: Implications for ASEAN, Oil-Refining and Religion

-The oil majors' favourite refining hub in ASEAN is Singapore, while the crude-oil/gas comes mainly from Indonesia, Malaysia and Brunei. Infusion...

Prasenjit K. Basu

Turnarounds: Finding A Phoenix In the Land of the Dead

In this review, we highlight the importance for investors to: 1) not 'jump the gun' and sell on companies that are in decline; and 2) think...

Athaporn Arayasantiparb, CFA

A Rockefeller Legacy - Gas Station Opertators in Thailand Are Cheap but Don't Catch a Falling Knife

A Rockefeller Legacy. Like many countries in Asia, oil & gas, which was a state-of-the-art technology when it started, wasn't started by some...

Athaporn Arayasantiparb, CFA

CP All on Rex Tillerson

The East-West Collision Course. Today on the local World & Economic Times program on Spring News Channel 11, Professor Manarangsan gave an...

Athaporn Arayasantiparb, CFA

Geo Energy Resources Led Upstream Coal Plays in 2016 YTD

SGX lists four Upstream Coal Plays: Geo Energy Resources, Resources Prima Group, BlackGold Natural Resources and Golden Energy & Resources.Geo...

Singapore Exchange Ltd (SGX)

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52-week Range

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