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).

The Chef's Selection: The Best of May/June Company Visits

Global Macro - Stable Oil Prices = Low Inflation. What About as Rates and Growth Rise in 2018?

Thai-Coons (Season Finale): Two Brothers on a Flying Train

Thai-Coons Ep. 8: Thaksin...Business Genius or Political Provacateur?

Equity Bottom-Up

<p>We met up with BTS management today and saw that things are clearly picking up in virtually all aspects of the business. Some key points we noted were:</p><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>
<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>BTS</td>
<td style="text-align: center;">Skytrain</td>
<td style="text-align: center;">8.6</td>
<td style="text-align: center;">2,900</td>
<td style="text-align: center;">58.6</td>
<td style="text-align: center;">7.9</td>
</tr>
<tr>
<td>MACO</td>
<td style="text-align: center;">Transit media</td>
<td style="text-align: center;">1.09</td>
<td style="text-align: center;">100</td>
<td style="text-align: center;">22.9</td>
<td style="text-align: center;">3.3</td>
</tr>
</tbody></table><ul><li>
<strong>Strong 33% growth in media revenues </strong>following the acquisition of MACO or Master Ad. Right now, you will notice that media accounts for an even bigger portion of revenues than transport, which was not the case in the last quarter. In…</li></ul>

We met up with BTS management today and saw that things are clearly picking up in virtually all aspects of the business. Some key points we noted were:

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


BTS
Skytrain
8.6
2,900
58.6
7.9


MACO
Transit media
1.09
100
22.9
3.3


Strong 33% growth in media revenues following the acquisition of MACO or Master Ad. Right now, you will notice that media accounts for an even bigger portion of revenues than transport, which was not the case in the last quarter. In…

Sino-Thai Engineering & Construction (STEC TB)

BTS Group Holdings

BTS: All Engines Firing