Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Thematic (Sector/Industry)

In this review, we predict that Thai equities will rally in October and early November before another major correction in December with the Fed rate hike. In the short term, we expect Thai banks to do well, as they and Asian counterparts (eg. Singapore's DBS) benefit in terms of relative growth if the US banks are hampered by the regulator's decision to increase capital requirements of the largest banks. We also see two companies run by Thailand's second richest tycoon Charoen Sirivadhanabhakdi, namely BJC and Thai Beverage, outperforming companies run by the larger CP Group, primarily due to corporate action and a market's tilt towards consumers and retailing sectors. Needless to say, we will be tactically overweight on banks, retailers, and consumers over the next two months.We also discuss: 1) the overall upgrade of Thailand's growth expectations on the back of stronger domestic consumption; and 2) highight the government's five strategic sectors, named 'The 5 S-Curves'.

In this review, we predict that Thai equities will rally in October and early November before another major correction in December with the Fed rate hike. In the short term, we expect Thai banks to do well, as they and Asian counterparts (eg. Singapore's DBS) benefit in terms of relative growth if the US banks are hampered by the regulator's decision to increase capital requirements of the largest banks. We also see two companies run by Thailand's second richest tycoon Charoen Sirivadhanabhakdi, namely BJC and Thai Beverage, outperforming companies run by the larger CP Group, primarily due to corporate action and a market's tilt towards consumers and retailing sectors. Needless to say, we will be tactically overweight on banks, retailers, and consumers over the next two months.We also discuss: 1) the overall upgrade of Thailand's growth expectations on the back of stronger domestic consumption; and 2) highight the government's five strategic sectors, named 'The 5 S-Curves'.

American Capital Requirement Increase: Charoen and Thai Banks to Lead October Rally

Equity Bottom-Up

In this review, we look at two of Thailand's key industrial export sectors (automobiles and electronics). While net exports continue to drop 2%, Thailand's gross exports rose for the first time this year. We remain cautious on these low margin sectors with the exception of a few bottom up ideas: 1) KCE, top pick in electronics which benefits from backward integration; 2) SAT, the most attractive stock in the automobile sector on both valuations and yield; and 3) ASEFA, an electronics stock that focuses almost entirely on domestic rather than export theme and benefits from growing construction of office buildings.

In this review, we look at two of Thailand's key industrial export sectors (automobiles and electronics). While net exports continue to drop 2%, Thailand's gross exports rose for the first time this year. We remain cautious on these low margin sectors with the exception of a few bottom up ideas: 1) KCE, top pick in electronics which benefits from backward integration; 2) SAT, the most attractive stock in the automobile sector on both valuations and yield; and 3) ASEFA, an electronics stock that focuses almost entirely on domestic rather than export theme and benefits from growing construction of office buildings.

Autos & Electrons: The Slow Road to Recovery

Thailand

Somboon Advance Technology PCL manufactures and sells automotive parts for sale to automobile manufacturers. The Company's products include axle shafts, leaf springs, disk and drum brakes, manifold exhaust, fly wheels, stabilizer bars, and coil springs.

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Somboon Advance Technology P (SAT TB)

American Capital Requirement Increase: Charoen and Thai Banks to Lead October Rally

In this review, we predict that Thai equities will rally in October and early November before another major correction in December with the Fed...

Athaporn Arayasantiparb, CFA

Autos & Electrons: The Slow Road to Recovery

In this review, we look at two of Thailand's key industrial export sectors (automobiles and electronics). While net exports continue to drop 2%,...

Athaporn Arayasantiparb, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)