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?

BTS (BTS TB): Monopoly Mass Transportation and Ads to Go Along

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

Equity Bottom-Up

<p><strong>The Big Picture. </strong>It’s easy to focus on the negatives and say that BTS’s earnings halved from Bt4.1bn in 2015 to Bt2bn in 2016, but the consolidated earnings were distorted by a lot of accounting issues that relates more to growing pains. BTS made numerous acquisitions and entered into several joint ventures and investments that helps to expand their growth platform, which is why revenues actually grew 37% from Bt6.3bn to Bt8.6bn during the same period. If you don’t sow seeds today, you won’t…</p>

The Big Picture. It’s easy to focus on the negatives and say that BTS’s earnings halved from Bt4.1bn in 2015 to Bt2bn in 2016, but the consolidated earnings were distorted by a lot of accounting issues that relates more to growing pains. BTS made numerous acquisitions and entered into several joint ventures and investments that helps to expand their growth platform, which is why revenues actually grew 37% from Bt6.3bn to Bt8.6bn during the same period. If you don’t sow seeds today, you won’t…

BTS Group Holdings

BTS Group: Positioning For Growth