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: Three stocks remain, 11 new join the fray</li>
<li>Since inception, it has gained 112% versus the SET 100 Index’s return of 55%</li>
</ul>


We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
Portfolio changes: Three stocks remain, 11 new join the fray
Since inception, it has gained 112% versus the SET 100 Index’s return of 55%


The Stocks to Own in Thailand – Vol. 53

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Event-Driven

<ul>
<li>J&amp;T Global Express, a global logistics provider, raised about US$500m in its Hong Kong IPO in Oct 2023. Its pre-IPO investors will be released from its IPO linked lockup soon.</li>
<li>As per Frost &amp; Sullivan (F&amp;S), the firm is the leading express delivery business in Southeast Asia, with a 25.4% market share as per 2023 parcel volume.</li>
<li>In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.</li>
</ul>


J&amp;T Global Express, a global logistics provider, raised about US$500m in its Hong Kong IPO in Oct 2023. Its pre-IPO investors will be released from its IPO linked lockup soon.
As per Frost &amp; Sullivan (F&amp;S), the firm is the leading express delivery business in Southeast Asia, with a 25.4% market share as per 2023 parcel volume.
In this note, we talk about the upcoming lock-up expiry and possible deal dynamics.


J&T Global Express IPO Lock-Up Expiry - Tiny Float with 87%+ Stake Lockup Release Worth >US$8.8bn

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

<ul>
<li>As first discussed back in May (see <a href="https://skr.ma/LAfHm" target="_blank" rel="noopener">here</a>), shares in <a href="https://www.smartkarma.com/entities/krungthai-card-pcl" target="_blank" data-smartkarma-citation="entities:20097:1" rel="noopener">Krungthai Card (KTC TB)</a>, <a href="https://www.smartkarma.com/entities/xspring-capital-pcl" target="_blank" data-smartkarma-citation="entities:19807:1" rel="noopener">XSpring (XPG TB)</a>, <a href="https://www.smartkarma.com/entities/bec-world-public-co-ltd" target="_blank" data-smartkarma-citation="entities:16881:1" rel="noopener">BEC (BEC TB)</a>, and <a href="https://www.smartkarma.com/entities/the-practical-solution-public-company-limited" target="_blank" data-smartkarma-citation="entities:45379:1" rel="noopener">The Practical Solution (TPS TB)</a> all went limit down. Twice.</li>
<li>Pledging in those shares - in what I call the Prakitchaiwattana Complex - have been static, to down, in the month of October.</li>
<li>Recent big-ish moves were seen in <a href="https://www.smartkarma.com/entities/siam-city-cement-pcl" target="_blank" data-smartkarma-citation="entities:346:1" rel="noopener">Siam City Cement (SCCC TB)</a> (up), <a href="https://www.smartkarma.com/entities/bangkok-expressway-and-metro-68c0c1b3-af0c-4380-a380-f3dc7ba5d5ac" target="_blank" data-smartkarma-citation="entities:22849:1" rel="noopener">Bangkok Expressway and Metro (BEM TB)</a> (up); <a href="https://www.smartkarma.com/entities/nakhonluang-capital-pcl" target="_blank" data-smartkarma-citation="entities:26954:1" rel="noopener">Next Capital (NCAP TB)</a> (down) and <a href="https://www.smartkarma.com/entities/banpu-public-co-ltd" target="_blank" data-smartkarma-citation="entities:15363:1" rel="noopener">Banpu Public (BANPU TB)</a> (down).</li>
</ul>


As first discussed back in May (see here), shares in Krungthai Card (KTC TB), XSpring (XPG TB), BEC (BEC TB), and The Practical Solution (TPS TB) all went limit down. Twice.
Pledging in those shares - in what I call the Prakitchaiwattana Complex - have been static, to down, in the month of October.
Recent big-ish moves were seen in Siam City Cement (SCCC TB) (up), Bangkok Expressway and Metro (BEM TB) (up); Next Capital (NCAP TB) (down) and Banpu Public (BANPU TB) (down).


Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Cross Asset Strategy

<ul>
<li>So far, global markets remain optimistic that the damage from the war in Iran will be repaired relatively soon; however, that will change as the war enters its second month.</li>
<li>Asian countries are highly dependent on oil and gas shipments from the Middle East, with airlines, petrochemical companies, and gas distribution companies all negatively affected.</li>
<li>Iran now controls when the flow of energy from the Middle East starts and thereby when the war stops. Gulf countries will not allow Iran to be the Straits gatekeeper.</li>
</ul>


So far, global markets remain optimistic that the damage from the war in Iran will be repaired relatively soon; however, that will change as the war enters its second month.
Asian countries are highly dependent on oil and gas shipments from the Middle East, with airlines, petrochemical companies, and gas distribution companies all negatively affected.
Iran now controls when the flow of energy from the Middle East starts and thereby when the war stops. Gulf countries will not allow Iran to be the Straits gatekeeper.


OIL: When a Short-Term Spike Becomes Long-Term Reality

<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 72% 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 72% versus the SET 100 Index’s return of 23%


The Stocks to Own in Thailand – Vol. 51

Thailand

The Siam Cement Public Company Limited is a diversified industrial company. The Company's operations include cement manufacturing, petrochemicals manufacturing, paper manufacturing, building product manufacturing, and distribution.

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Siam Cement (SCC TB)

The Stocks to Own in Thailand – Vol. 53

We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology. Portfolio changes: Three stocks remain, 11 new join...

A. Stotz Investment Research

J&T Global Express IPO Lock-Up Expiry - Tiny Float with 87%+ Stake Lockup Release Worth >US$8.8bn

J&T Global Express' IPO linked lockup expired over the weeked. The stock has been correcting over the past few weeks, especially with the CCASS...

Sumeet Singh

Thai Pledged Shares In October 2025

This insight is primarily about pledged tables. Recent big-ish moves were seen in Siam City Cement (up), Bangkok Expressway and Metro (up); Next...

David Blennerhassett

OIL: When a Short-Term Spike Becomes Long-Term Reality

So far, global markets remain optimistic that the damage from the war in Iran will be repaired relatively soon; however, that will change as the...

David Mudd

The Stocks to Own in Thailand – Vol. 51

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

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