Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Equity Bottom-Up

AIS arranged a full-day event to highlight four themes on November 18, namely: 1) its ambitious 'digital transformation' goals; 2) AIS Fiber as a new growth engine; 3) its marketing and branding initiatives; and 4) its human resource policies. Some of the key takeaways include the fact that:<ul><li>the industry remains very competitive on all fronts. Neither AIS nor True Move looks like they will concede ground to the other side...translation: More price war. Winner: Apple.</li><li>some hopes on AIS Fiber even as a standalone basis. While we think it's still advisable for them to scale up quickly by acquiring Jasmine, it's nice for them to have Plan B. Not sure if this talk today had a negative impact on Jasmine's share price. </li><li>an interesting anecdote about the spat between them and CP All, the sole operator of 7-Eleven in Thailand, which ironically could end up benefiting a neutral Forth, which operates top-up kiosks...many of which are located outside 7-Elevens.</li></ul>Interestingly, no one seems to discuss DTAC, though its potential acquisition remained a favorite topic amongst the analysts.

AIS arranged a full-day event to highlight four themes on November 18, namely: 1) its ambitious 'digital transformation' goals; 2) AIS Fiber as a new growth engine; 3) its marketing and branding initiatives; and 4) its human resource policies. Some of the key takeaways include the fact that:the industry remains very competitive on all fronts. Neither AIS nor True Move looks like they will concede ground to the other side...translation: More price war. Winner: Apple.some hopes on AIS Fiber even as a standalone basis. While we think it's still advisable for them to scale up quickly by acquiring Jasmine, it's nice for them to have Plan B. Not sure if this talk today had a negative impact on Jasmine's share price. an interesting anecdote about the spat between them and CP All, the sole operator of 7-Eleven in Thailand, which ironically could end up benefiting a neutral Forth, which operates top-up kiosks...many of which are located outside 7-Elevens.Interestingly, no one seems to discuss DTAC, though its potential acquisition remained a favorite topic amongst the analysts.

There is much talk about Tesla's plans on the ground to expand production into Thailand, even if they don't seem to have adequate capital. Potential beneficiaries include battery maker BAT-3K and firms that could build some of its circuit boards and other components (KCE and Forth). The impact on autoparts makers (OEM) is still quite unpredictable at this stage, since firms like AH (Aapico Hi-tech) have no experience supplying to Tesla.Further away from the eye of the storm, Sansiri has already built EV chargers in some of its developments. We also met with management from solar power company Superblock who expressed strong skepticism about Tesla's prospects both in Thailand and even globally.

There is much talk about Tesla's plans on the ground to expand production into Thailand, even if they don't seem to have adequate capital. Potential beneficiaries include battery maker BAT-3K and firms that could build some of its circuit boards and other components (KCE and Forth). The impact on autoparts makers (OEM) is still quite unpredictable at this stage, since firms like AH (Aapico Hi-tech) have no experience supplying to Tesla.Further away from the eye of the storm, Sansiri has already built EV chargers in some of its developments. We also met with management from solar power company Superblock who expressed strong skepticism about Tesla's prospects both in Thailand and even globally.

Thailand

Forth Corp PCL manufactures and sells telecommunications and electronic equipment. The Company also develop and install the data management system, manufactures, sells, and installs traffic light system and equipment, manufactures and sells electronic signs, as well as distributes electronic parts.

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Forth Corp PCL (FORTH TB)

A Full-Day AIS Crash Course

AIS arranged a full-day event to highlight four themes on November 18, namely: 1) its ambitious 'digital transformation' goals; 2) AIS Fiber as a...

Athaporn Arayasantiparb, CFA

What if Tesla Comes to Detroit of Asia?

There is much talk about Tesla's plans on the ground to expand production into Thailand, even if they don't seem to have adequate capital....

Athaporn Arayasantiparb, CFA

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