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).

Thoughts on Amazon –What Does Its Valuation Tells Us?

Netflix & Amazon Expand in Korea – Not a Coincidence

Okja: The Fight Between Netflix Vs. CJ CGV

Equity Bottom-Up

<p>We introduce the last of our top picks, SC Asset, which we believe could rise over 40% to Bt5 within this year given the dynamics of strong growth, relatively small market cap, and very low valuations. We generally favor developers that cater to the rich. Apart from SC Asset, there is the quintessential high-end developer Sansiri. We recommend switching from Supalai, a very accomplished developer, into these two laggard names.</p><p>We also discuss the investment merits of the low-end market leaders in landed property (Pruksa) and condominiums (LPN) while reiterating our favor for the higher-end developers. Within the LH Group run by the Asavabhokin family (Thailand's leading property tycoons), we recommend sticking with QH (Quality House) as we find LH too diversified and have quality concerns regarding AP (Asian Property).</p>

We introduce the last of our top picks, SC Asset, which we believe could rise over 40% to Bt5 within this year given the dynamics of strong growth, relatively small market cap, and very low valuations. We generally favor developers that cater to the rich. Apart from SC Asset, there is the quintessential high-end developer Sansiri. We recommend switching from Supalai, a very accomplished developer, into these two laggard names.We also discuss the investment merits of the low-end market leaders in landed property (Pruksa) and condominiums (LPN) while reiterating our favor for the higher-end developers. Within the LH Group run by the Asavabhokin family (Thailand's leading property tycoons), we recommend sticking with QH (Quality House) as we find LH too diversified and have quality concerns regarding AP (Asian Property).

SC Asset Corp

SC Asset: Land for the Rich