Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Event-Driven

Hitachi Chemical Storage Battery (Thailand) Public Company Limited / Event-Driven

Hitachi Chemical Storage Battery (Thailand) Public Company Limited

<p>It’s nice being an investment banker these days in Thailand. Looks like a good string of small deals coming their way. The recent ones we heard about are not earth-shaking, but they are pretty diverse in terms of industry. In most cases, however, the premium are likely to be small. Nice to get an update yo.</p><ul>
<li>
<strong>Hitachi’s Thai unit </strong>to make a tender offer for <strong>BAT-3K</strong>
</li>
<li>
<strong>TOA</strong>’s tender offer of Sherwood</li>
<li>Potential management buyout of <strong>Q-CON</strong>
</li>
</ul><table class="table table-striped"><tbody>
<tr>
<td>Stock</td>
<td>Business</td>
<td style="text-align: center;">Shr pr (Bt/sh)</td>
<td style="text-align: center;">Mkt cap (US$ m)</td>
<td style="text-align: center;">PE (x)</td>
<td style="text-align: center;">Yld (%)</td>
</tr>
<tr>
<td>BAT-3K (Thai</td>
</tr>
</tbody></table>…

It’s nice being an investment banker these days in Thailand. Looks like a good string of small deals coming their way. The recent ones we heard about are not earth-shaking, but they are pretty diverse in terms of industry. In most cases, however, the premium are likely to be small. Nice to get an update yo.

Hitachi’s Thai unit to make a tender offer for BAT-3K


TOA’s tender offer of Sherwood
Potential management buyout of Q-CON



Stock
Business
Shr pr (Bt/sh)
Mkt cap (US$ m)
PE (x)
Yld (%)


BAT-3K (Thai

…

Equity Bottom-Up

<p>Of the three property tycoons, the <strong>Asavabhokin of Land &amp; House Group </strong>may not be the richest, though many argue they are most influential. Their rivalry with the Kanjanapats of Bangkok Land and BTS are stuff of legends. Apart from controlling three large listed property developers (LH, AP, and QH), the Group also has both a hospitality business (LHHOTEL and Centerpoint service apartment) and retail arms such includes Homepro, Fashion Island, and the iconic Terminal 21 on Asoke junction. If that's still not enough to impress you, there's also a tiny-ish construction materials firm called QCON on the side. All in, these 7 listed entities are worth almost US$10bn yo! That's similar to the size of KTB Group. In terms of investment, we only own QH, which has high yield and cheap valuations. Unfortunately, the sector's performance hasn't been great, given the concerns of interest rate hikes next year, but it is what it is yo.</p>

Of the three property tycoons, the Asavabhokin of Land &amp; House Group may not be the richest, though many argue they are most influential. Their rivalry with the Kanjanapats of Bangkok Land and BTS are stuff of legends. Apart from controlling three large listed property developers (LH, AP, and QH), the Group also has both a hospitality business (LHHOTEL and Centerpoint service apartment) and retail arms such includes Homepro, Fashion Island, and the iconic Terminal 21 on Asoke junction. If that's still not enough to impress you, there's also a tiny-ish construction materials firm called QCON on the side. All in, these 7 listed entities are worth almost US$10bn yo! That's similar to the size of KTB Group. In terms of investment, we only own QH, which has high yield and cheap valuations. Unfortunately, the sector's performance hasn't been great, given the concerns of interest rate hikes next year, but it is what it is yo.

The Little League (Season Finale): The Nelson to Kanjanapat's Napoleon

Thailand

Quality Construction Products Public Company Limited manufactures and sells autoclaved aerated concrete (AAC) which is used for wall and floor construction for its unique combination of characteristics including strength, low density, thermal insulation, fire resistance and buildability.

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Quality Construction Product (QCON TB)

Recent/Upcoming Deals in Thailand

It’s nice being an investment banker these days in Thailand. Looks like a good string of small deals coming their way. The recent ones we heard...

Athaporn Arayasantiparb, CFA

The Little League (Season Finale): The Nelson to Kanjanapat's Napoleon

Of the three property tycoons, the Asavabhokin of Land & House Group may not be the richest, though many argue they are most influential. Their...

Athaporn Arayasantiparb, CFA

Price Gauge

52-week Range

Market Cap (USDm)

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