Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Asean (Thailand) Focused Independent Research

M Corp Review

M Corp is led by Athaporn Arayasantiparb who served as Head of Research for UOB and ANZ in Thailand and was an award-winning telecoms analyst at UBS in 2010 (AsiaMoney Thailand category) and Regional Strategist for DMG in Singapore. Prior to that, he also served as Kasikornbank credit analyst and scholar. He has a total work experience of 17 years, of which 14 were in research and 4 in research management roles. He started his career as an engineer for PTT and currently manages family investments. He holds an MBA from Stern (NYU) and CFA Charter since 2006. Apart from IPO Radar, which focuses on future listings, MCorp Review also provides six on-going thematic series ranked by frequency in descending order, namely: 1) Silicon Stories (technology) 2) Sathorn Series (financial services) 3) Thai-Coons (billionaire origin stories) 4) Reality Check (data-driven, investigative) 5) Thai Media Spotlight; and 6) Thai Macro Watch (global market drivers).

Thematic (Sector/Industry)

You know how movies like to show you the present-day episodes and then they later rewind back to a prequel of how it all started. Well, this is something like that. While it is true that MCorp Review has probably mentioned some of these guys in the Thai-Coons and Big Brother series before, we never really put them in the same place. It's a little like talking about the Starks in isolation of the Lannisters in Game of Thrones, so we're gonna let them do their fist bumps here, even if it means…

You know how movies like to show you the present-day episodes and then they later rewind back to a prequel of how it all started. Well, this is something like that. While it is true that MCorp Review has probably mentioned some of these guys in the Thai-Coons and Big Brother series before, we never really put them in the same place. It's a little like talking about the Starks in isolation of the Lannisters in Game of Thrones, so we're gonna let them do their fist bumps here, even if it means…

Telecom Review: A Brief Background on Sector Players

Over the next five years, a lot of things will continue to change. In this review, we highlight five possible trends and two Thai stocks each that would benefit (or be adversely affected) by them, namely: 1) an ageing society; 2) higher concentration of wealth; 3) driverless cars for ride hailing; 4) increasing fintech adoption by incumbents; and 5) a decline in both labor cost and commodity prices.We may have discussed most of these themes before, though we've never put them in one place. As they say in investing, gotta watch where the puck is going, not where it is.

Over the next five years, a lot of things will continue to change. In this review, we highlight five possible trends and two Thai stocks each that would benefit (or be adversely affected) by them, namely: 1) an ageing society; 2) higher concentration of wealth; 3) driverless cars for ride hailing; 4) increasing fintech adoption by incumbents; and 5) a decline in both labor cost and commodity prices.We may have discussed most of these themes before, though we've never put them in one place. As they say in investing, gotta watch where the puck is going, not where it is.

Equity Bottom-Up

Seven Utilities and Power / Equity Bottom-Up

From MLink to Ferrum. One company that has followed steps outlined in <a href="https://www.smartkarma.com/insights/turnarounds-finding-a-phoenix-in-the-land-of-the-dead" target="_blank" data-smartkarma-citation="insights:8194">Turnarounds: Finding A Phoenix In the Land of the Dead</a> is Ferrum. The company, previously known as M-Link, is part of the Shinawatra empire ( <a href="https://www.smartkarma.com/insights/thai-coons-ep-8-thaksin-business-genius-or-political-provacateur" target="_blank" data-smartkarma-citation="insights:6478">Thai-Coons Ep. 8: Thaksin...Business Genius or Political Provacateur?</a>) and at one point the largest distributor of mobile phones in the country, but that's a dying business yo, so under the new CEO, they:<ul><li>
Tranformed the business from mobile phone distribution to energy sector via…</li></ul>

From MLink to Ferrum. One company that has followed steps outlined in Turnarounds: Finding A Phoenix In the Land of the Dead is Ferrum. The company, previously known as M-Link, is part of the Shinawatra empire ( Thai-Coons Ep. 8: Thaksin...Business Genius or Political Provacateur?) and at one point the largest distributor of mobile phones in the country, but that's a dying business yo, so under the new CEO, they:
Tranformed the business from mobile phone distribution to energy sector via…

Snippets#4: Ferrum's Transformation from Phones to Power Plants

During the weekend, we attended a presentation by Vacharapong Potjaneenont, who is Manager for Strategy &amp; Business Development of <a href="https://www.smartkarma.com/entities/214" target="_blank" data-smartkarma-citation="entities:214:1">Siam Commercial Bank Pub Co (SCB TB)</a>, and we found it pretty interesting. Basically, his view is that fintech has been around since the 50s, and in his view, we are on the third wave...There's something with the number three. I recall someone else (maybe Microsoft CEO Nadella) saying we are on the third Industrial or Digital Revolution. Well, let's just indulge the…

During the weekend, we attended a presentation by Vacharapong Potjaneenont, who is Manager for Strategy &amp; Business Development of Siam Commercial Bank Pub Co (SCB TB), and we found it pretty interesting. Basically, his view is that fintech has been around since the 50s, and in his view, we are on the third wave...There's something with the number three. I recall someone else (maybe Microsoft CEO Nadella) saying we are on the third Industrial or Digital Revolution. Well, let's just indulge the…

What do these three items have in common? Nothing, apart from the fact that we met three small cap Thai companies who sell them on the exact same day. In this review, we provide some summary about what they do. MCorp Review believes none of these companies make any sense apart from Big Camera. And forget about the whole ITU (International Telecom Union) thing. We did visit it at the Maung Thong Impact Arena today, but there was nothing impressive about it at all yo.<table class="table table-striped"><tbody>
<tr>
<td>Stocks</td>
<td style="text-align: center;">Business</td>
<td style="text-align: center;">Shr pr (Bt/sh)</td>
</tr>
</tbody></table>…

What do these three items have in common? Nothing, apart from the fact that we met three small cap Thai companies who sell them on the exact same day. In this review, we provide some summary about what they do. MCorp Review believes none of these companies make any sense apart from Big Camera. And forget about the whole ITU (International Telecom Union) thing. We did visit it at the Maung Thong Impact Arena today, but there was nothing impressive about it at all yo.

Stocks
Business
Shr pr (Bt/sh)

…

Three of a Kind: Jeans, Glasses, and Cameras

Thailand

Seven Utilities And Power Public Company Limited distributes mobile phones and accessory equipment in Thailand. The Company also operates representative business to distribute mobile phones and accessory equipment.

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Seven Utilities and Power (7UP TB)

Telecom Review: A Brief Background on Sector Players

You know how movies like to show you the present-day episodes and then they later rewind back to a prequel of how it all started. Well, this is...

Athaporn Arayasantiparb, CFA

Five Big Ideas for the Next Five Years

Over the next five years, a lot of things will continue to change. In this review, we highlight five possible trends and two Thai stocks each that...

Athaporn Arayasantiparb, CFA

Snippets#4: Ferrum's Transformation from Phones to Power Plants

From MLink to Ferrum. One company that has followed steps outlined in Turnarounds: Finding A Phoenix In the Land of the Dead is Ferrum. The...

Athaporn Arayasantiparb, CFA

Silicon Sequel: SCB on Fintech

During the weekend, we attended a presentation by Vacharapong Potjaneenont, who is Manager for Strategy & Business Development of Siam...

Athaporn Arayasantiparb, CFA

Three of a Kind: Jeans, Glasses, and Cameras

What do these three items have in common? Nothing, apart from the fact that we met three small cap Thai companies who sell them on the exact same...

Athaporn Arayasantiparb, CFA

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