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).

Sathorn Series O: Thai Banks Expand Abroad

Nine Reasons Why Thai Banks Should Be Worry About in the Future

The Week That Was in ASEAN@Smartkarma - Indonesian Healthcare, Bank Credit Costs, and Three Big IPOs

Telecom Review (June 2018): New DTAC Leadership

Sathorn Series B: KBANK Goes to Indonesia

Snippets #34: Tesco in Play, CRC's Indicative IPO Pricing

Snippets #33: Symptoms of Downturn, Bangkok Bank Goes Indonesia

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).

Equity Bottom-Up

Five interesting news/developments we recently spotted that could influence Thai equities include:<ul>
<li>
KBANK announces plans to acquire a 35% stake in A Bank in Myanmar. The tiny bank is dwarfed by the acquirer in asset size and headcount, but we are starting to see traces of a regional game plan for the recently embattled bank.</li>
<li>
The Wattanavekin family, which controls Kiatnakin Phatra and Wankanai Sugar, recently concluded a deal to license Tim Horton's from Canada's Restaurant Brands in order to establish the chain in Thailand.</li>
<li>
DTAC's CEO suddenly resigned prior to the 5G in favor of the first non-Caucasian CEO since DTAC's sales to Telenor many years ago. The suddenness of this resignation, however, casts doubt on the company and could impact its share price.</li>
<li>
Minor files a lawsuit against Marriott for Bt570m claiming mismanagement of its JW Marriott Phuket property.</li>
<li>
Thonburi Healthcare plans on buying two private hospitals in Ubon Ratchatani and Chantaburi.</li>
</ul>

Five interesting news/developments we recently spotted that could influence Thai equities include:

KBANK announces plans to acquire a 35% stake in A Bank in Myanmar. The tiny bank is dwarfed by the acquirer in asset size and headcount, but we are starting to see traces of a regional game plan for the recently embattled bank.

The Wattanavekin family, which controls Kiatnakin Phatra and Wankanai Sugar, recently concluded a deal to license Tim Horton's from Canada's Restaurant Brands in order to establish the chain in Thailand.

DTAC's CEO suddenly resigned prior to the 5G in favor of the first non-Caucasian CEO since DTAC's sales to Telenor many years ago. The suddenness of this resignation, however, casts doubt on the company and could impact its share price.

Minor files a lawsuit against Marriott for Bt570m claiming mismanagement of its JW Marriott Phuket property.

Thonburi Healthcare plans on buying two private hospitals in Ubon Ratchatani and Chantaburi.


Snippets #35: KBANK's Burmese Toehold, Tim Hortons Comes to Thailand

Kasikornbank PCL

Snippets #35: KBANK's Burmese Toehold, Tim Hortons Comes to Thailand