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).

Energy Watch: Siam Gas and Gripes on the Glow Deal!

The CIO's Corner: QE Unwinding, Laggards, & Rejuvenators

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

<p>Airlines and energy companies seldom do well at the same time. Airlines consume a lot of a fuel, so when fuel prices, usually highly correlated with oil (the world's most important fuel), rises as it did in 2017, airlines tend to do badly. As is shown in 2017, Bangkok Airways will simply be swamped by higher fuel cost, even as Siam Gas has a field day. As mentioned in <a href="https://www.smartkarma.com/insights/thai-strategy-2018-part-i-key-themes" target="_blank" data-smartkarma-citation="insights:15834">Thai Strategy 2018 (Part I): Key Themes</a>, oil prices rose strongly from US$50+/bbl range to US$70/bbl, where it currently trades…</p>

Airlines and energy companies seldom do well at the same time. Airlines consume a lot of a fuel, so when fuel prices, usually highly correlated with oil (the world's most important fuel), rises as it did in 2017, airlines tend to do badly. As is shown in 2017, Bangkok Airways will simply be swamped by higher fuel cost, even as Siam Gas has a field day. As mentioned in Thai Strategy 2018 (Part I): Key Themes, oil prices rose strongly from US$50+/bbl range to US$70/bbl, where it currently trades…

Two Sides of the Same Coin: Energy Vs Airlines