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).

Thai Market Strategy: Fed, France, & Trump

The Thaksin Empire Strikes Back (Part II)

Reality Check I: How Bad Can Markets Get?

Times of Trouble: Italy, Europe, & Digital TV

Thematic (Sector/Industry)

Thailand Consumer discretionary / Thematic (Sector/Industry)

Our worst fears regarding Europe has not materialized, and the global economy does seem to be improving. Thai equities (SET index) have rebounded a recent low of 1,535 to its current level of 1,575 in March largely because of the seemingly obscure Dutch election. This is likely to continue if Macron defeats LePenn this month during the French elections. Stocks with high levels of European exposure (eg. Thai Optical, Exotic Foods) may do well in the short run, but we think the real money is in more fundamentally competitive exporters such as Thai Union and tourism plays, which we expect to benefit from both Brexit (for outbound travel) and THAAD (for inbound travel).

Our worst fears regarding Europe has not materialized, and the global economy does seem to be improving. Thai equities (SET index) have rebounded a recent low of 1,535 to its current level of 1,575 in March largely because of the seemingly obscure Dutch election. This is likely to continue if Macron defeats LePenn this month during the French elections. Stocks with high levels of European exposure (eg. Thai Optical, Exotic Foods) may do well in the short run, but we think the real money is in more fundamentally competitive exporters such as Thai Union and tourism plays, which we expect to benefit from both Brexit (for outbound travel) and THAAD (for inbound travel).

Thai Market Update: Europe, Tourism, and More