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)

<p><strong>Crypto-currency is a lot more than just bitcoins. </strong>Considering the fact how much it dominates the media these days, <em>MCorp Review </em>decided to provide a quickie but comprehensive update on the Thai front.</p><ul><li>
<strong>SCB's</strong> share price once rose on Bt30bn off-balance sheet gains on its investment in Ripple via Digital Ventures. Recently, the bank's asset management arm has also been mulling a new cryptocurrency fund for public investors. <ul><li>
<strong>Jaymart </strong>recently finished its Bt600m ICO (initial coin offerings) with great…</li></ul>
</li></ul>

Crypto-currency is a lot more than just bitcoins. Considering the fact how much it dominates the media these days, MCorp Review decided to provide a quickie but comprehensive update on the Thai front.
SCB's share price once rose on Bt30bn off-balance sheet gains on its investment in Ripple via Digital Ventures. Recently, the bank's asset management arm has also been mulling a new cryptocurrency fund for public investors. 
Jaymart recently finished its Bt600m ICO (initial coin offerings) with great…


Silicon Stories H: Cryptocurrency Craze Update

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

<p>Thailand-based power plant player B.Grimm Power launched book building to raise up to US$348m to fund its expansion and pay down debt. At Smartkarma, we covered recent Thai utility listings, including <a href="https://www.smartkarma.com/entities/23631" target="_blank" data-smartkarma-citation="entities:23631:1">Banpu Power PCL (BPP TB)</a>, <a href="https://www.smartkarma.com/entities/23995" target="_blank" data-smartkarma-citation="entities:23995:1">WHA Utilities and Power (WHAUP TB)</a>, and <a href="https://www.smartkarma.com/entities/24044" target="_blank" data-smartkarma-citation="entities:24044:1">TPI Polene Power Public Company Limited (TPIPP TB)</a>. In this insight, we will cover the background of the company, its growth, valuation and score the deal on our Smartkarma ECM framework. </p><div><h2>Deal and framework score overview</h2></div><p>The below…</p>

Thailand-based power plant player B.Grimm Power launched book building to raise up to US$348m to fund its expansion and pay down debt. At Smartkarma, we covered recent Thai utility listings, including Banpu Power PCL (BPP TB), WHA Utilities and Power (WHAUP TB), and TPI Polene Power Public Company Limited (TPIPP TB). In this insight, we will cover the background of the company, its growth, valuation and score the deal on our Smartkarma ECM framework. Deal and framework score overviewThe below…

B.Grimm Power IPO: Quality Name but Upside Capped by Leverage

WHA Utilities And Power / Equity Capital Markets

<p>After we covered the fundamentals of the <a href="https://www.smartkarma.com/entities/23995" target="_blank" data-smartkarma-citation="entities:23995:1">WHA Utilities and Power (WHAUP TB)</a>, the company launched the book building last week. In this insight, we will recap our thoughts on the company's fundamentals and score the deal in our ECM Framework. </p><hr><div><h2>Deal and framework score overview</h2></div><p>Regular readers will be familiar with the below embed from our IPO tool which has been designed to provide you with timely information on all IPO related events (Book open/closing, listing, initiation, lock-up expiry, etc)…</p>

After we covered the fundamentals of the WHA Utilities and Power (WHAUP TB), the company launched the book building last week. In this insight, we will recap our thoughts on the company's fundamentals and score the deal in our ECM Framework. Deal and framework score overviewRegular readers will be familiar with the below embed from our IPO tool which has been designed to provide you with timely information on all IPO related events (Book open/closing, listing, initiation, lock-up expiry, etc)…

WHAUP IPO: Valuation Reasonable, Peer Performance Implies Positive Momentum

<p class="ember-tether-target ember-tether-element-attached-top ember-tether-element-attached-left ember-tether-target-attached-top ember-tether-target-attached-right">Thailand based <a href="https://www.smartkarma.com/entities/23995" target="_blank" data-smartkarma-citation="entities:23995:1">WHA Utilities and Power (WHAUP TB)</a> is about to launch its US$100m offering to list on the Bangkok Stock Exchange. In this insight, we will cover the background of the company, growth drivers, risks and our thoughts on its valuation. We will score the deal on our Smartkarma ECM Framework when the term sheet is available in a later stage.</p>

Thailand based WHA Utilities and Power (WHAUP TB) is about to launch its US$100m offering to list on the Bangkok Stock Exchange. In this insight, we will cover the background of the company, growth drivers, risks and our thoughts on its valuation. We will score the deal on our Smartkarma ECM Framework when the term sheet is available in a later stage.

WHA Utilities and Power IPO: Good Short Term Visibility but Limited Opportunities in Thailand

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<p>§  <strong>Ascendas REIT has recently replaced CapitaLand Mall Trust as Singapore's largest capitalised REIT – and has been the second-best performing REIT in the YTD with an 11.9% total return.</strong></p><p>§  <strong>The capitalisation of Singapore’s REIT Sector has almost doubled over the past five years. Singapore’s REIT Sector also maintains a competitive edge with higher average yields and lower average gearing ratios than the combined REIT Sector of Japan, Australia and Hong Kong. </strong></p><p>§  <strong>The NikkoAM - StraitsTrading Asia ex Japan REIT ETF  which is expected to include up to 70% weightage in Singapore REITs is scheduled to list on SGX on 29 March 2017. Ascendas REIT and CapitaLand Mall Trust are expected to maintain relatively large weightings in the ETF. </strong></p>

§  Ascendas REIT has recently replaced CapitaLand Mall Trust as Singapore's largest capitalised REIT – and has been the second-best performing REIT in the YTD with an 11.9% total return.§  The capitalisation of Singapore’s REIT Sector has almost doubled over the past five years. Singapore’s REIT Sector also maintains a competitive edge with higher average yields and lower average gearing ratios than the combined REIT Sector of Japan, Australia and Hong Kong. §  The NikkoAM - StraitsTrading Asia ex Japan REIT ETF  which is expected to include up to 70% weightage in Singapore REITs is scheduled to list on SGX on 29 March 2017. Ascendas REIT and CapitaLand Mall Trust are expected to maintain relatively large weightings in the ETF. 

Ascendas REIT Is Now Singapore's Largest Capitalised REIT

Thailand

WHA Corp PCL is a built-to-suit distribution center and factory developer in Thailand.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

WHA Corp Pcl (WHA TB)

Silicon Stories H: Cryptocurrency Craze Update

Crypto-currency is a lot more than just bitcoins. Considering the fact how much it dominates the media these days, MCorp Review decided to provide...

Athaporn Arayasantiparb, CFA

B.Grimm Power IPO: Quality Name but Upside Capped by Leverage

Thailand-based power plant player B.Grimm Power launched book building to raise up to US$348m to fund its expansion and pay down debt. At...

Ke Yan, CFA, FRM

WHAUP IPO: Valuation Reasonable, Peer Performance Implies Positive Momentum

After we covered the fundamentals of the WHA Utilities and Power (WHAUP TB), the company launched the book building last week. In this insight, we...

Ke Yan, CFA, FRM

WHA Utilities and Power IPO: Good Short Term Visibility but Limited Opportunities in Thailand

Thailand based WHA Utilities and Power (WHAUP TB) is about to launch its US$100m offering to list on the Bangkok Stock Exchange. In this insight,...

Ke Yan, CFA, FRM

Ascendas REIT Is Now Singapore's Largest Capitalised REIT

§ Ascendas REIT has recently replaced CapitaLand Mall Trust as Singapore's largest capitalised REIT – and has been the second-best performing REIT...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)