Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Thematic (Sector/Industry)

In this review, we predict that Thai equities will rally in October and early November before another major correction in December with the Fed rate hike. In the short term, we expect Thai banks to do well, as they and Asian counterparts (eg. Singapore's DBS) benefit in terms of relative growth if the US banks are hampered by the regulator's decision to increase capital requirements of the largest banks. We also see two companies run by Thailand's second richest tycoon Charoen Sirivadhanabhakdi, namely BJC and Thai Beverage, outperforming companies run by the larger CP Group, primarily due to corporate action and a market's tilt towards consumers and retailing sectors. Needless to say, we will be tactically overweight on banks, retailers, and consumers over the next two months.We also discuss: 1) the overall upgrade of Thailand's growth expectations on the back of stronger domestic consumption; and 2) highight the government's five strategic sectors, named 'The 5 S-Curves'.

In this review, we predict that Thai equities will rally in October and early November before another major correction in December with the Fed rate hike. In the short term, we expect Thai banks to do well, as they and Asian counterparts (eg. Singapore's DBS) benefit in terms of relative growth if the US banks are hampered by the regulator's decision to increase capital requirements of the largest banks. We also see two companies run by Thailand's second richest tycoon Charoen Sirivadhanabhakdi, namely BJC and Thai Beverage, outperforming companies run by the larger CP Group, primarily due to corporate action and a market's tilt towards consumers and retailing sectors. Needless to say, we will be tactically overweight on banks, retailers, and consumers over the next two months.We also discuss: 1) the overall upgrade of Thailand's growth expectations on the back of stronger domestic consumption; and 2) highight the government's five strategic sectors, named 'The 5 S-Curves'.

American Capital Requirement Increase: Charoen and Thai Banks to Lead October Rally

Equity Bottom-Up

In this new two-part series, we examine how low oil prices and the resulting boon to consumption affects the Thai economy and markets and some interesting Buy ideas from them. In the first part, we think PTT, Thailand's flagship oil &amp; gas stock, still has some upside to go thanks in part to the hotels they plan to build and the potential IPO of PTT Retail.Upside in Thai energy is rather limited due to their strong price performance this year, and we are fairly bearish since we believe Iran will raise capacity in the longer run and hurt global energy prices. In general, we are less impressed with other stocks in the sector. Even BAFS, which has a great business model and monopoly on fuel aviation, seems expensive right now. We also took a look at PTT's many subsidiaries and honestly, we weren't that impressed. Maybe, Thai Oil comes a close second.

In this new two-part series, we examine how low oil prices and the resulting boon to consumption affects the Thai economy and markets and some interesting Buy ideas from them. In the first part, we think PTT, Thailand's flagship oil &amp; gas stock, still has some upside to go thanks in part to the hotels they plan to build and the potential IPO of PTT Retail.Upside in Thai energy is rather limited due to their strong price performance this year, and we are fairly bearish since we believe Iran will raise capacity in the longer run and hurt global energy prices. In general, we are less impressed with other stocks in the sector. Even BAFS, which has a great business model and monopoly on fuel aviation, seems expensive right now. We also took a look at PTT's many subsidiaries and honestly, we weren't that impressed. Maybe, Thai Oil comes a close second.

The New Abnormal (Part I): Low Energy Prices...Dude, Where's My Exit?

Thailand

PTG Energy PCL provides ready-made gasoline at retail stations. The Company operates gasoline tank farms and gasoline retail stations throughout Thailand.

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PTG Energy PCL (PTG TB)

American Capital Requirement Increase: Charoen and Thai Banks to Lead October Rally

In this review, we predict that Thai equities will rally in October and early November before another major correction in December with the Fed...

Athaporn Arayasantiparb, CFA

The New Abnormal (Part I): Low Energy Prices...Dude, Where's My Exit?

In this new two-part series, we examine how low oil prices and the resulting boon to consumption affects the Thai economy and markets and some...

Athaporn Arayasantiparb, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)