Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Event-Driven

Jasmine has been on the hidelines for a few days. It appears we probably made a mistake by selling the the stock at Bt7.25/sh, even though we did realize a nice 25% profit on a very big position. Since then, Jasmine has actually risen to Bt7.65/sh (when it peaked...now back to 7.4), and CEO Pete, with the blessings of Thailand's most valuable bank SCB, made a tender offer for the subsidiary JTS as well.  Technically, I know I should be buying Jasmine again, but I realize that behavorial finance…

Jasmine has been on the hidelines for a few days. It appears we probably made a mistake by selling the the stock at Bt7.25/sh, even though we did realize a nice 25% profit on a very big position. Since then, Jasmine has actually risen to Bt7.65/sh (when it peaked...now back to 7.4), and CEO Pete, with the blessings of Thailand's most valuable bank SCB, made a tender offer for the subsidiary JTS as well.  Technically, I know I should be buying Jasmine again, but I realize that behavorial finance…

Deciphering real estate markets globally., Rems Advisors

TAN Kok Keong

Deciphering real estate markets globally.

Rems Advisors

Thematic (Sector/Industry)

A key issue facing many Government across the globe is how to keep home affordable while maintaining an environment attractive for foreign investments.  This issue runs deep whether you are in developed countries like United Kingdom, Australia, Singapore or emerging markets like Myanmar, Cambodia, Vietnam, etc.The huge disparity in prices of luxury homes vs what middle to lower income groups can afford has been largely caused by the relative strong purchasing powers of foreign participants in…

A key issue facing many Government across the globe is how to keep home affordable while maintaining an environment attractive for foreign investments.  This issue runs deep whether you are in developed countries like United Kingdom, Australia, Singapore or emerging markets like Myanmar, Cambodia, Vietnam, etc.The huge disparity in prices of luxury homes vs what middle to lower income groups can afford has been largely caused by the relative strong purchasing powers of foreign participants in…

Global Special Situations

Charles Nave

Following the results of the second spectrum auction (in which True Corp and Jasmine were victors), the share price of Intouch and it's subsidiary AIS dropped 17% and 23% respectively.  This has resulted in a short term rally in the stub Intuch ex-AIS) from -THB8.30 to -THB3.60.This provides a prime trading opportunity.

Following the results of the second spectrum auction (in which True Corp and Jasmine were victors), the share price of Intouch and it's subsidiary AIS dropped 17% and 23% respectively.  This has resulted in a short term rally in the stub Intuch ex-AIS) from -THB8.30 to -THB3.60.This provides a prime trading opportunity.

Intouch (INTUCH TB):  Failed Spectrum Bid Provides Stub Trading Opportunity

The current spectrum auction and the results of the, phase II, 900MHz auction next month may present some excellent opportunities in the Intouch/AIS holdco trade.In this report I analyse the NAV, stub, yield differential and key risk to the trade.

The current spectrum auction and the results of the, phase II, 900MHz auction next month may present some excellent opportunities in the Intouch/AIS holdco trade.In this report I analyse the NAV, stub, yield differential and key risk to the trade.

Intouch (INTUCH TB):  HoldCo Impact of Spectrum Auction

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

<ul><li>Philippine banks are now taking over others in SE Asia in terms of credit growth&nbsp;as they become more comfortable with their own financials and the overall economy.</li><li>Indonesian Bank loan growth has stepped down dramatically over the past few years. This reflects cyclically less corporate demand combined with increased caution from the banks</li><li>Thai Banks now report the lowest growth. With GDP growing at 0.5% this is reflective of demand.</li></ul>

Philippine banks are now taking over others in SE Asia in terms of credit growth&nbsp;as they become more comfortable with their own financials and the overall economy.Indonesian Bank loan growth has stepped down dramatically over the past few years. This reflects cyclically less corporate demand combined with increased caution from the banksThai Banks now report the lowest growth. With GDP growing at 0.5% this is reflective of demand.

South East Asian Loan Growth  - Phillippine, Thai and Indonesian Banks Compared.

Thailand

3BB Internet Infrastructure Fund operates as a closed-end infrastructure fund. The Company invests primarily in the telecommunication network infrastructure projects. 3BB Internet Infrastructure Fund serves clients in Thailand.

3BB Internet Infrastructure Fund (3BBIF TB)

Price Gauge
52-week Range	0.00 - 0.00
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3BB Internet Infrastructure Fund (3BBIF TB)

A Rose by Any Name...How About Jasmine?

Jasmine has been on the hidelines for a few days. It appears we probably made a mistake by selling the the stock at Bt7.25/sh, even though we did...

Athaporn Arayasantiparb, CFA

Helping People Own a Home

A key issue facing many Government across the globe is how to keep home affordable while maintaining an environment attractive for foreign...

TAN Kok Keong

Intouch (INTUCH TB): Failed Spectrum Bid Provides Stub Trading Opportunity

Following the results of the second spectrum auction (in which True Corp and Jasmine were victors), the share price of Intouch and it's subsidiary...

Charles Nave

Intouch (INTUCH TB): HoldCo Impact of Spectrum Auction

The current spectrum auction and the results of the, phase II, 900MHz auction next month may present some excellent opportunities in the...

Charles Nave

South East Asian Loan Growth - Phillippine, Thai and Indonesian Banks Compared.

Philippine banks are now taking over others in SE Asia in terms of credit growth as they become more comfortable with their own financials and the...

Daniel Tabbush

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)