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).

Small Cap Diary: An Exotic Expansion Plan Gone Bad

Value Traps: Dinosaur Stocks in the Digital Age

Equity Bottom-Up

Masterkool International / Equity Bottom-Up

<p>You would normally think that in a hot country like this, MasterKool which now derives the bulk of its revenues from mobile aircons (which it labels “evaporative cooling”) would tend to do quite well. In the past, the company has grown revenues at 40% CAGR, but in H1’17, domestic sales in every segment plunged more than 30%. Export sales proved more resilient at 15%. Ironically, one of the reasons they gave was that <strong>Thailand isn’t hot enough</strong>. There’s too much rain these days. Seriously?!  The…</p>

You would normally think that in a hot country like this, MasterKool which now derives the bulk of its revenues from mobile aircons (which it labels “evaporative cooling”) would tend to do quite well. In the past, the company has grown revenues at 40% CAGR, but in H1’17, domestic sales in every segment plunged more than 30%. Export sales proved more resilient at 15%. Ironically, one of the reasons they gave was that Thailand isn’t hot enough. There’s too much rain these days. Seriously?!  The…

MasterKool: Another Case Of "Dog Ate My Homework"