Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

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

Bangkok Chain Hospital / Equity Bottom-Up

We spent three days at BCH (Bangkok Chain Hospital)'s Kasemraj Bangkhae branch while waiting for my mom to recover and share some of our observations about the firm's operations on-the-ground with you in this review. For those of you considering to buy the stock or simply want to know a little more about the company, we hope you find this useful.  <a href="https://www.smartkarma.com/companies/339" target="_blank" data-smartkarma-citation="companies:339">A. Stotz Investment Research</a> has already provided quite a detailed big picture description of the firm and its financial outlook as highlighted in the…

We spent three days at BCH (Bangkok Chain Hospital)'s Kasemraj Bangkhae branch while waiting for my mom to recover and share some of our observations about the firm's operations on-the-ground with you in this review. For those of you considering to buy the stock or simply want to know a little more about the company, we hope you find this useful.  A. Stotz Investment Research has already provided quite a detailed big picture description of the firm and its financial outlook as highlighted in the…

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

MSCI Emerging Markets Index / Technical Analysis

Today’s report provides a top-down synopsis of the technical condition of emerging markets across the globe, and includes a wide variety of bottom-up recommendations, spanning most sectors and all market capitalizations.

Today’s report provides a top-down synopsis of the technical condition of emerging markets across the globe, and includes a wide variety of bottom-up recommendations, spanning most sectors and all market capitalizations.

Emerging Markets: Technical Strategy & Reccommendations

Since the last Clash of the Titans between TMB and SCB over FWD ( <a href="https://www.smartkarma.com/insights/tmb-vs-scb-bancassurance-ain-t-big-enough-for-the-two-of-us" target="_blank" data-smartkarma-citation="insights:12158">TMB Vs SCB: Bancassurance Ain’t Big Enough for the Two of Us!</a>), we haven't spoken much about insurance. In the meantime, Bangkok Bank nailed the deal with HK's AIA, the top foreign insurer in Thailand and one-time market leader. That sent BLA's share price spiraling over 7% in a single day, as investors said Bangkok Bank ( <a href="https://www.smartkarma.com/insights/rabble-rousers-ep-3-the-king-of-banks" target="_blank" data-smartkarma-citation="insights:6762">Rabble Rousers (Ep. 3): The King of Banks</a>) would start selling AIA policies rather than their own house…

Since the last Clash of the Titans between TMB and SCB over FWD ( TMB Vs SCB: Bancassurance Ain’t Big Enough for the Two of Us!), we haven't spoken much about insurance. In the meantime, Bangkok Bank nailed the deal with HK's AIA, the top foreign insurer in Thailand and one-time market leader. That sent BLA's share price spiraling over 7% in a single day, as investors said Bangkok Bank ( Rabble Rousers (Ep. 3): The King of Banks) would start selling AIA policies rather than their own house…

Sathorn Series C: Revisiting Thai Insurance

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Bumrungrad Hospital Pub Co / Equity Bottom-Up

<ul><li>Low correlation with Western stock markets, slow asset growth, and strong cash levels relative to its sector </li><li>Vitallife Wellness Center, currently under renovation, should benefit from global wellness tourism growing twice as fast as tourism overall </li><li>The new outpatient clinic at Bumrungrad International Tower, completed in August 2017, adds capacity to serve growing demand </li><li>Trades at premium 17CE* 9.6x PB, but offers above-sector ROE and has a solid net-cash position </li><li>Risks: Shortage in highly specialized medical staff might lead to an increase in salaries; harsh competition in private medical healthcare</li></ul>* Consensus Estimates

Low correlation with Western stock markets, slow asset growth, and strong cash levels relative to its sector Vitallife Wellness Center, currently under renovation, should benefit from global wellness tourism growing twice as fast as tourism overall The new outpatient clinic at Bumrungrad International Tower, completed in August 2017, adds capacity to serve growing demand Trades at premium 17CE* 9.6x PB, but offers above-sector ROE and has a solid net-cash position Risks: Shortage in highly specialized medical staff might lead to an increase in salaries; harsh competition in private medical healthcare* Consensus Estimates

The industrialists are usually shy and sit at the back of the room. That's how we found two new manufacturers and a doctor almost at the back of Forbes 50 Thailand list this year, whom we didn't notice much of last year yo. You ever know that feeling that you made it, but just barely. They allow 50 kids into the coolest night club in town, and right after you, the bouncer tells the rest to take a hike.<table class="table table-striped"><tbody>
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<td style="text-align: center;">Family</td>
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<td>PCSGH</td>
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</tbody></table>…

The industrialists are usually shy and sit at the back of the room. That's how we found two new manufacturers and a doctor almost at the back of Forbes 50 Thailand list this year, whom we didn't notice much of last year yo. You ever know that feeling that you made it, but just barely. They allow 50 kids into the coolest night club in town, and right after you, the bouncer tells the rest to take a hike.

Stocks
Business
Shr pr (Bt/sh)
Mkt cap (US$ m)
PE (x)
Yld (%)
Family
Forbes rank
Wealth (US$ m)


PCSGH
Aut

…

The New Thai-Coons (Part 2): Class of 2017

Thailand

Bumrungrad Hospital Public Company Limited, through its subsidiaries,  owns and operates the Bumrungrad Hospital. Located in Bangkok, the Hospital has capacity of international standard medical care with 554 beds for inpatients and approximately 125 clinic examination suites that can serve up to 3,000 outpatients daily.

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Bumrungrad Hospital Pub Co (BH TB)

On the Ground Observations at BCH

We spent three days at BCH (Bangkok Chain Hospital)'s Kasemraj Bangkhae branch while waiting for my mom to recover and share some of our...

Athaporn Arayasantiparb, CFA

Emerging Markets: Technical Strategy & Reccommendations

Today’s report provides a top-down synopsis of the technical condition of emerging markets across the globe, and includes a wide variety of...

Vermilion Research

Sathorn Series C: Revisiting Thai Insurance

Since the last Clash of the Titans between TMB and SCB over FWD ( TMB Vs SCB: Bancassurance Ain’t Big Enough for the Two of Us!), we haven't spoken...

Athaporn Arayasantiparb, CFA

BH: Growing with Global Wellness Tourism

Low correlation with Western stock markets, slow asset growth, andstrong cash levels relative to its sector Vitallife Wellness Center, currently...

A. Stotz Investment Research

The New Thai-Coons (Part 2): Class of 2017

The industrialists are usually shy and sit at the back of the room. That's how we found two new manufacturers and a doctor almost at the back of...

Athaporn Arayasantiparb, CFA

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52-week Range

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