Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

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QH: Dividend Play Outshines Thai Property Peers

PLAT: Powerful Name Enjoys Robust Earnings Growth and Wide Margin

PLAT:  Expect Accelerating Earnings in 4Q18

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Equity Bottom-Up

<ul><li>More attractive to analysts and strong stock price momentum relative to its sector</li><li>Continued focus on cost control should further boost operating profit, up 29% in 9M16 YoY</li><li>QH's low-rise projects in the Ratchapruek zone should become more attractive as connectivity improves on Sirat Outer Ring Road expressway opening</li><li>The stock is attractive on 17CE* 13.2% ROE/PB versus Thai Real Estate at 4.3%</li><li>Risk: Interest rate hike to result in higher mortgage rate</li></ul><p><em>* Consensus Estimates</em></p>

More attractive to analysts and strong stock price momentum relative to its sectorContinued focus on cost control should further boost operating profit, up 29% in 9M16 YoYQH's low-rise projects in the Ratchapruek zone should become more attractive as connectivity improves on Sirat Outer Ring Road expressway openingThe stock is attractive on 17CE* 13.2% ROE/PB versus Thai Real Estate at 4.3%Risk: Interest rate hike to result in higher mortgage rate* Consensus Estimates

Quality Houses

QH: Q as in Quality Valuation