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.

Thematic (Sector/Industry)

<ul>
<li>We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Six stocks remain, eight new join the fray</li>
<li>Since inception, it has gained 118% versus the SET 100 Index’s return of 23%</li>
</ul>


We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
Portfolio changes: Six stocks remain, eight new join the fray
Since inception, it has gained 118% versus the SET 100 Index’s return of 23%


The Stocks to Own in Thailand – Vol. 44

<ul>
<li>We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Seven stocks remain, seven new join the fray</li>
<li>Since inception, it has gained 104% versus the SET 100 Index’s return of 21%</li>
</ul>


We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
Portfolio changes: Seven stocks remain, seven new join the fray
Since inception, it has gained 104% versus the SET 100 Index’s return of 21%


The Stocks to Own in Thailand – Vol. 43

Independent Asian Credit Research, Bondcritic

Warut Promboon

Independent Asian Credit Research

Asian Fixed Income/Frontier Market Research

Bondcritic

Bondcritic, established in 2009, is designed to be an independent credit research voice that helps investors gain insights and unbiased analyses on Asian fixed income market. Our mission is to discover deep-value Asian high-yield and distressed bonds with a bottom-up approach, together with the help of our proprietary ESG (Environmental, Social Development, and Governance) model. At the same time, we focus on bringing investment cases of unrated and unloved issuers to the general public.

Macroeconomics

<ul>
<li>Thailand has finally had Mr. Sretha Thavisin as the 30th Prime Minister (PM) of Thailand on 22-August.</li>
<li>The PTP decided to betray its voters to cross  the aisle to join the conservative side.</li>
<li>We believe the potential surge in the Thai stock performance should be the time to de-risk.</li>
</ul>


Thailand has finally had Mr. Sretha Thavisin as the 30th Prime Minister (PM) of Thailand on 22-August.
The PTP decided to betray its voters to cross  the aisle to join the conservative side.
We believe the potential surge in the Thai stock performance should be the time to de-risk.


<ul>
<li>We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Seven stocks remain, seven new join the fray</li>
<li>Since inception, it has gained 122% versus the SET 100 Index’s return of 35%</li>
</ul>


We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
Portfolio changes: Seven stocks remain, seven new join the fray
Since inception, it has gained 122% versus the SET 100 Index’s return of 35%


The Stocks to Own in Thailand – Vol. 42

Thai Equity - Bottom-up - Equities, Pi Securities PCL, Thailand

Pi Research

Thai Equity - Bottom-up - Equities

Leading, full-service investment firm in Thailand

Pi Securities PCL, Thailand

Pi Securities is a well known securities company with 40 years experience in the industry, serving more than 60,000 clients. We offer one - stop service providing full range of financial products and services including extensive Brokerage, Proprietary Trading (Equities and Bonds), Advisory Services, Structured Products.

Moreover, our new research team tailored for institutional clients to focus on mid to small cap of Thai equities and trading strategies. Our services offered to our premium clients also include arrangement of company or site visits to with the managements of Thai listed companies.

Note: Effective on 1 March 2022, Country Group Securities PCL changed its name to Pi Securities

Equity Bottom-Up

<ul>
<li>Maintain BUY rating with a target price of Bt2.54 based on 9.7xPE’2023E, implying 10% discount from its five-years trading average. We have positive view to its 2022 outlook backed </li>
<li>3Q22 earnings grew YoY and QoQ QH reported  3Q22’s net profit of Bt640m (+143%YoY, +24% QoQ), better than our forecast and market expectation.  The YoY increasing of net profit supported </li>
<li>3Q22 presales expanded YoY and QoQ QH reported 3Q22 presales at Bt2.3 bn (+71% YoY, +13% QoQ), representing Bt2.1bn of low-rise presales and Bt289m of condominium presales. 9M22 presales reached </li>
</ul>


Maintain BUY rating with a target price of Bt2.54 based on 9.7xPE’2023E, implying 10% discount from its five-years trading average. We have positive view to its 2022 outlook backed 
3Q22 earnings grew YoY and QoQ QH reported  3Q22’s net profit of Bt640m (+143%YoY, +24% QoQ), better than our forecast and market expectation.  The YoY increasing of net profit supported 
3Q22 presales expanded YoY and QoQ QH reported 3Q22 presales at Bt2.3 bn (+71% YoY, +13% QoQ), representing Bt2.1bn of low-rise presales and Bt289m of condominium presales. 9M22 presales reached 


Thailand

Quality Houses Public Company Limited is a property development company. The Company specializes in single-house, apartment, and condominium development projects.

Quality Houses (QH TB)

The Stocks to Own in Thailand – Vol. 44

We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology. Portfolio changes: Six stocks remain, eight new join...

A. Stotz Investment Research

The Stocks to Own in Thailand – Vol. 43

We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology. Portfolio changes: Seven stocks remain, seven new...

A. Stotz Investment Research

Thailand : The Empire Strikes Back

Thai politics entered an uncharted territory where many voters view the current coalition as a betrayal of their trust and we believe the surge in...

Bondcritic

The Stocks to Own in Thailand – Vol. 42

We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology. Portfolio changes: 7 stocks remain, 7 new join the fray.

A. Stotz Investment Research

QH : 3Q22 Results Better than Expected

Maintain BUY rating with a target price of Bt2.54 based on 9.7xPE’2023E, implying 10% discount from its five-years trading average. We have...

Pi Securities PCL, Thailand