Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Athaporn 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 22 years, of which 19 were in research and 9 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 performs financial advisory services for TKC Services and provides 11 other on-going thematic series ranked by frequency in descending order, namely:

1) Snippets (news-driven);
2) Sathorn Series (financial services);
3) Silicon Stories (technology); 
4) Thai-Coons (billionaire origin series);
5) Reality Check (data-driven, investigative);
6) Thai Media Spotlight;
7) Political Pit Stop; 
8) Telecom Review; 
9) Thai Macro Watch (read-through from foreign events);  
10) Small Cap Diary; and
11) Property Grid

There are also 3 limited-time series driven by specific events or locations, namely:
1) Thai Corona Crisis;
2) South Series; and
3) Mechanics and Details (deal forensics).

Thai Strategy 2018 (Part III): Sector Outlook & Highlights

Champions of 2017: Stocks With Eye-Popping Returns!

US Government Shutdown a Short Term Catalyst for Thai Equities

Three of a Kind: Piles, Furnitures, and Lighting

Twilight of Thai Investment: Industrial Estates and Network Contractors

Snippets#5: Trump Vs Techdom, Clash of the Titans

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

<p><strong>AMATA. </strong>For 9M'17, Amata reported 39% revenue growth and more than doubling (+140%) of earnings. Pre-land sales rose 18% to 331 rais. Almost half of the profits came from subsidiaries, amounting to Bt513m, and the majority of this came from the power business (Bt410m). Another Bt76m of the profits came from its LNG distribution joint venture which they recently started with PTT. These are pretty impressive numbers considering the fact that Thai labor costs are expensive compared to Indonesia and…</p>

AMATA. For 9M'17, Amata reported 39% revenue growth and more than doubling (+140%) of earnings. Pre-land sales rose 18% to 331 rais. Almost half of the profits came from subsidiaries, amounting to Bt513m, and the majority of this came from the power business (Bt410m). Another Bt76m of the profits came from its LNG distribution joint venture which they recently started with PTT. These are pretty impressive numbers considering the fact that Thai labor costs are expensive compared to Indonesia and…

Amata Corp Public

AMATA: Immortals of the Industrials