Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Equity Bottom-Up

<p>In this issue of <em>Reality Check, </em>we examine the various drivers of Thai property and understand that rising supply (or oversupply?), interest rates, and housing affordability issues may haunt the market in 2017 going forward. We have become cautious on QH but still believe the going is still good for cheaper, high yielding names in the blue-blood premium segment like Sansiri and SC Asset. In other words, selectivity counts. We also visited ANAN and found that few people were excited despite the 56% earnings growth and their beating expectations on every single dimension conceivable. Maybe, they are just worried the sector is a little in over in its head now. 17 projects in 2017...seriously?</p>

In this issue of Reality Check, we examine the various drivers of Thai property and understand that rising supply (or oversupply?), interest rates, and housing affordability issues may haunt the market in 2017 going forward. We have become cautious on QH but still believe the going is still good for cheaper, high yielding names in the blue-blood premium segment like Sansiri and SC Asset. In other words, selectivity counts. We also visited ANAN and found that few people were excited despite the 56% earnings growth and their beating expectations on every single dimension conceivable. Maybe, they are just worried the sector is a little in over in its head now. 17 projects in 2017...seriously?

Reality Check III: Is This Time to Sell Thai Property?

Thailand

Ananda Development PCL operates a real estate development company.  The Company develops condominiums oriented toward smaller, functional units and targets them to first time home buyers and professionals.  Anada builds its developments in a close proximity to mass transit stations

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Ananda Development (ANAN TB)

Reality Check III: Is This Time to Sell Thai Property?

In this issue of Reality Check, we examine the various drivers of Thai property and understand that rising supply (or oversupply?), interest rates,...

Athaporn Arayasantiparb, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)