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 Capital Markets

<p>With ROIs routinely exceeding 100%, Jaymart's debt collection subsidiary, <a href="https://www.smartkarma.com/entities/8581" target="_blank" data-smartkarma-citation="entities:8581:1">Jmt Network Services Pcl (JMT TB)</a>, became the market darling of its time. Of course, if you invested today, you are way behind the curve, but don't lose hope. CHAYO seems like a younger-day JMT clone, and that's why we're taking a look. This IPO may be a chance to get in on the same business at ground zero. We believe this company, which generates higher margins than JMT, should IPO somewhere <strong>between Bt1.2/sh to Bt2.5/sh, but it's more likely to be the upper side of the range. </strong>Assuming the underwriters (AEC) don't go crazy and price this thing at something way out of reach, we're all in on this IPO.</p>

With ROIs routinely exceeding 100%, Jaymart's debt collection subsidiary, Jmt Network Services Pcl (JMT TB), became the market darling of its time. Of course, if you invested today, you are way behind the curve, but don't lose hope. CHAYO seems like a younger-day JMT clone, and that's why we're taking a look. This IPO may be a chance to get in on the same business at ground zero. We believe this company, which generates higher margins than JMT, should IPO somewhere between Bt1.2/sh to Bt2.5/sh, but it's more likely to be the upper side of the range. Assuming the underwriters (AEC) don't go crazy and price this thing at something way out of reach, we're all in on this IPO.

IPO Radar: CHAYO, the Next JMT (Debt Collection Biz)

Thailand

Chayo Group Public Company Limited and its subsidiaries specialize in investing and managing non-performing loans, offering debt tracking and collection services for financial institutions and private companies. They also provide customer service, money lending, and sell goods via digital channels. The company was founded on March 11, 1997, and is headquartered in Bangkok, Thailand.

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Chayo Group (CHAYO TB)

IPO Radar: CHAYO, the Next JMT (Debt Collection Biz)

With ROIs routinely exceeding 100%, Jaymart's debt collection subsidiary, Jmt Network Services Pcl (JMT TB), became the market darling of its time....

Athaporn Arayasantiparb, CFA

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