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).

A Second Look at the Thai Airlines Industry

IPO Radar: Bangkok Aviation Center, Training Ground for Thai Pilots

IPO Radar: Copperwired, the #2 Player in IStudiosn

Thai Macro Watch: Traditional 'Weak Oil' Plays in Thailand

Bangchak: The Breakaway Oil Company That Could

Snippets #17: PTTEP's Winner Curse, Huawei's Crisis

Snippets #16: MINT's India Adventure, Consumption Stimulus Programs

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)

Thailand Energy / Thematic (Sector/Industry)

Oil prices shot back up to US$60/bbl levels in 2019. 'Experts' claim it has to do with lower US inventories, but we believe the truth is murkier than that. Instead of dwelling on the dynamics, let's focus on which stocks benefits when the pendulum swings the other way.<ul>
<li>
 Near-term: PTTEP is the most direct beneficiary of higher oil prices. The crude they dig, rig, or suck out of the Earth immediately appreciates in value, and so does sentiments for their stock. It may also impact monetary policies, raising interest rates and benefiting banks.</li>
<li>
Medium-term, we expect people to focus on substitutes. Alternative energy providers like Bangchak could see improvement in volumes as their product becomes more competitive.</li>
<li>
Longer term, people would be more willing to switch to electric cars, benefiting both chargers (think EA) and coal (Banpu....someone still needs to generate electricity).</li>
<li>There could also be lifestyle changes, which means condos closer to offices become more popular as a means to save on transport cost. Think AP, Sansiri, and BTS.</li>
</ul>

Oil prices shot back up to US$60/bbl levels in 2019. 'Experts' claim it has to do with lower US inventories, but we believe the truth is murkier than that. Instead of dwelling on the dynamics, let's focus on which stocks benefits when the pendulum swings the other way.

 Near-term: PTTEP is the most direct beneficiary of higher oil prices. The crude they dig, rig, or suck out of the Earth immediately appreciates in value, and so does sentiments for their stock. It may also impact monetary policies, raising interest rates and benefiting banks.

Medium-term, we expect people to focus on substitutes. Alternative energy providers like Bangchak could see improvement in volumes as their product becomes more competitive.

Longer term, people would be more willing to switch to electric cars, benefiting both chargers (think EA) and coal (Banpu....someone still needs to generate electricity).
There could also be lifestyle changes, which means condos closer to offices become more popular as a means to save on transport cost. Think AP, Sansiri, and BTS.


Oil Prices Are Up. Which Stock Benefits?