Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Thematic (Sector/Industry)

Only Gets Hotter from Here On. Summer typically starts in February in Thailand. In the South, there are only two seasons, but elsewhere, summer will stretch between February to around May. We are not saying every stock in this article is a buy. What we're saying is that for them, summer usually acts as an important sales catalyst or at least a time when they gain attention from investors yo. The rainy season, which starts in late May and goes all the way to October, is by far the country's…

Only Gets Hotter from Here On. Summer typically starts in February in Thailand. In the South, there are only two seasons, but elsewhere, summer will stretch between February to around May. We are not saying every stock in this article is a buy. What we're saying is that for them, summer usually acts as an important sales catalyst or at least a time when they gain attention from investors yo. The rainy season, which starts in late May and goes all the way to October, is by far the country's…

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

Thailand

Pan Asia Footwear Public Company Limited manufactures and distributes athletic shoes and casual shoes under its own Pan brand name and a licensed brand name of Nike.

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Pan Asia Footwear Pub (PAF TB)

This Ain't Winterfell, Summer Is Coming!

Only Gets Hotter from Here On. Summer typically starts in February in Thailand. In the South, there are only two seasons, but elsewhere, summer...

Athaporn Arayasantiparb, CFA

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)