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).

AWC: Fastest-Growing Hotel Chain in Thailand

PRM: Revising up Charter Rate for Floating Storage by 25% in 2Q20

IPO Radar: Asset World Corporation (Part 2) - Valuation and Risks

Reality Check XIV: What's a Ballpark Number for the Intuch Spinoff?

Reality Check 2020: Did CP All Really 'Win' the Tesco Deal?

Is CPALL's Win a Bigger Win for Berli Jucker?

Tesco Sells Thailand to CP All: Will Anti-Trust Approve?

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

Asset World Corporation / Equity Bottom-Up

Five interesting news flow/ development we picked up over the last month that could impact Thai equities:<ul>
<li>
AWC's New Tallest Building. Charoen's giant hotel/property arm, embarks on a new project to build the country's new tallest building.</li>
<li>
Bubble Talk. Influential economics talk show host Dr. Veera explores the topic on everyone's mind. His verdict: Looks more like a recession than a bubble.</li>
<li>
Share repurchases are gaining popularity, as markets enter bearish territory. Even newly listed CRC is joining the bandwagon. Others on the list: hoteliers MINT, Erawan, and deal-hunting Bangkok Bank.</li>
<li>
Legal challenges may appear to the CP All-Tesco deal, but selling certain assets such as the Malaysian operations or Tesco Express should not significantly affect the company's strong position.</li>
<li>
AIS joins regional gaming venture with parent company Singtel and SK Telecom. The Thai gaming industry is projected to grow 17% this year, further bolstered by the virus outbreak.</li>
</ul>

Five interesting news flow/ development we picked up over the last month that could impact Thai equities:

AWC's New Tallest Building. Charoen's giant hotel/property arm, embarks on a new project to build the country's new tallest building.

Bubble Talk. Influential economics talk show host Dr. Veera explores the topic on everyone's mind. His verdict: Looks more like a recession than a bubble.

Share repurchases are gaining popularity, as markets enter bearish territory. Even newly listed CRC is joining the bandwagon. Others on the list: hoteliers MINT, Erawan, and deal-hunting Bangkok Bank.

Legal challenges may appear to the CP All-Tesco deal, but selling certain assets such as the Malaysian operations or Tesco Express should not significantly affect the company's strong position.

AIS joins regional gaming venture with parent company Singtel and SK Telecom. The Thai gaming industry is projected to grow 17% this year, further bolstered by the virus outbreak.


Snippets #38: AWC's New Sacred Bull, Buyback Bonanza