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).

Five Biggest Lessons from Thai Financial Crisis

Telecom Review: A Primer on Concessions and Spectrums

Telecom Review: Four Bunnies Up True's Magic Hat

Reality Check 2018: Is True Worth a Bet After the Asset Sales?

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>We identified five strategies generally favored by conglomerates and the tycoons who control them, namely <strong>diversification, vertical integration, consolidation, cost leadership, and differentiation</strong>. In this review, we also provide examples of which Groups favor these strategies, how they illustrate it, and the underlying theory and whether or why they make sense in the context. One strategy popular in the West but not much favored in Thailand appears to be focus and partly reflects the conglomerate/family structure of many Thai business groups.</p>

We identified five strategies generally favored by conglomerates and the tycoons who control them, namely diversification, vertical integration, consolidation, cost leadership, and differentiation. In this review, we also provide examples of which Groups favor these strategies, how they illustrate it, and the underlying theory and whether or why they make sense in the context. One strategy popular in the West but not much favored in Thailand appears to be focus and partly reflects the conglomerate/family structure of many Thai business groups.

Five Strategies Favored by Thai Conglomerates and Tycoons