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).

The Week that Was in ASEAN@Smartkarma - Indonesia's Recovery and the Next Digital Darling

Thai Strategy 2021 (Part 2): Top 10 Stock Picks

Reality Check XXIV: How High Can Bumrungrad Bid Go?

The Four Vulnerabilities in Thai Property

CRC: Acquisition of COL Will Encourage Hardline and Omni-Channel Business

Telecom Review (Sept 2020): AIS and AsiaSoft Get Aggressive on Gaming

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).

Cross Asset Strategy

<div><p>The low-base effects and continuation of QE under either Presidents conspire to raise Thai equities in 2021. Relative to our portfolio last year, these are the key adjustments <em>MCorp Review</em> has made:</p></div><div><ul>
<li>
<strong>Upgrades </strong>to: 1) financials due to the impact of QE; and 2) healthcare due to more reasonable valuations.</li>
<li>
<strong>Downgrades </strong>to: 1) energy, autos, and media due to changes in technology; 2) transport and power due to rising valuations and lack of catalyst; and 3) construction and electronics due to change in political environment. We are also less excited about F&amp;B or REITs, as markets head into a 'risk-on' phase.</li>
<li>
<strong>Maintenance </strong>of: 1) our originally bullish stance on tourism, telecoms, and IE; and 2) our bearish stance on property.</li>
</ul></div><div><p></p></div>

The low-base effects and continuation of QE under either Presidents conspire to raise Thai equities in 2021. Relative to our portfolio last year, these are the key adjustments MCorp Review has made:

Upgrades to: 1) financials due to the impact of QE; and 2) healthcare due to more reasonable valuations.

Downgrades to: 1) energy, autos, and media due to changes in technology; 2) transport and power due to rising valuations and lack of catalyst; and 3) construction and electronics due to change in political environment. We are also less excited about F&amp;B or REITs, as markets head into a 'risk-on' phase.

Maintenance of: 1) our originally bullish stance on tourism, telecoms, and IE; and 2) our bearish stance on property.


Bualuang Office Leasehold Real Estate Investment Trust (B-WORK TB)

Bualuang Office Leasehold Real Estate Investment Trust

Thai Strategy 2021 (Part 3): Sector Outlooks