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).

Equity Bottom-Up

We have just completed visiting 20 companies during the November and December 2017 period. Now, firstly, we have to admit that the companies we met this time round weren't as impressive as earlier quarters. Domestic consumption didn't really recover until October, which is in Q4'17, regardless of what those crazy gov't stats are telling you ( <a href="https://www.smartkarma.com/insights/thai-macro-watch-part-1-external-strength-internal-weakness" target="_blank" data-smartkarma-citation="insights:11844">Thai Macro Watch (Part 1): External Strength, Internal Weakness</a>), and the poor showing of many Thai companies in Q3'17 is evidence of that. Having said…

We have just completed visiting 20 companies during the November and December 2017 period. Now, firstly, we have to admit that the companies we met this time round weren't as impressive as earlier quarters. Domestic consumption didn't really recover until October, which is in Q4'17, regardless of what those crazy gov't stats are telling you ( Thai Macro Watch (Part 1): External Strength, Internal Weakness), and the poor showing of many Thai companies in Q3'17 is evidence of that. Having said…

Chef's Selection: November & December Company Visits

SiS Distribution (Thailand) PCL / Equity Bottom-Up

Back in my MBA days, one of the most famous business heroes back then was Michael Dell...someone crazy enough to say his life mission was to beat IBM....and actually achieve it many years later. One of my ex-boss who lived in Texas said that Michael Dell started out like a kid assembling PCs at Panthip, but by the time we read Direct From Dell, he had already become the fifth richest man in the world. Of course today, Dell is a fraction of its former self. Even after the takeover of EMC, few…

Back in my MBA days, one of the most famous business heroes back then was Michael Dell...someone crazy enough to say his life mission was to beat IBM....and actually achieve it many years later. One of my ex-boss who lived in Texas said that Michael Dell started out like a kid assembling PCs at Panthip, but by the time we read Direct From Dell, he had already become the fifth richest man in the world. Of course today, Dell is a fraction of its former self. Even after the takeover of EMC, few…

Thematic (Sector/Industry)

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.

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…

Thailand

SiS Distribution (Thailand) Public Company Ltd. distributes computers and peripherals.  The Company distributes the products to resellers, retailers, system integrators, software houses, value added resellers, and original equipment manufacturers.

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SiS Distribution (Thailand) PCL (SIS TB)

Chef's Selection: November & December Company Visits

We have just completed visiting 20 companies during the November and December 2017 period. Now, firstly, we have to admit that the companies we met...

Athaporn Arayasantiparb, CFA

SIS...If Dell Could Start Over

Back in my MBA days, one of the most famous business heroes back then was Michael Dell...someone crazy enough to say his life mission was to beat...

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

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

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