Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Equity Bottom-Up

Masterkool International / Equity Bottom-Up

<p>You would normally think that in a hot country like this, MasterKool which now derives the bulk of its revenues from mobile aircons (which it labels “evaporative cooling”) would tend to do quite well. In the past, the company has grown revenues at 40% CAGR, but in H1’17, domestic sales in every segment plunged more than 30%. Export sales proved more resilient at 15%. Ironically, one of the reasons they gave was that <strong>Thailand isn’t hot enough</strong>. There’s too much rain these days. Seriously?!  The…</p>

You would normally think that in a hot country like this, MasterKool which now derives the bulk of its revenues from mobile aircons (which it labels “evaporative cooling”) would tend to do quite well. In the past, the company has grown revenues at 40% CAGR, but in H1’17, domestic sales in every segment plunged more than 30%. Export sales proved more resilient at 15%. Ironically, one of the reasons they gave was that Thailand isn’t hot enough. There’s too much rain these days. Seriously?!  The…

MasterKool: Another Case Of "Dog Ate My Homework"

Thailand

Masterkool International PCL develops, manufactures, and sells alternative cooling products. The Company's products also offer humidity control and ozone water disinfection. Masterkool International is located in Thailand and sells its products in parts of Southeast Asia, Europe, Africa, and South America.

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Masterkool International (KOOL TB)

MasterKool: Another Case Of "Dog Ate My Homework"

You would normally think that in a hot country like this, MasterKool which now derives the bulk of its revenues from mobile aircons (which it...

Athaporn Arayasantiparb, CFA

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