Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Thematic (Sector/Industry)

<h2><span lang="EN-US">Headlines</span></h2><ul>
<li>Apparel accessories increases by 3% in current value terms in 2016, to reach THB11.2 billion</li>
<li>Outbound tourists support the demand for apparel accessories</li>
<li>Scarves posts the highest current value growth in apparel accessories in 2016</li>
<li>ICC International and H&amp;M Hennes &amp; Mauritz hold the leading positions in apparel accessories in 2016</li>
<li>Apparel accessories is expected to see a value CAGR of 2% at constant 2016 prices in the forecast period, to reach THB12.3 billion in 2021</li>
</ul><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/021/580/original/Market%20size%20apparel%20accessories%20-%20thailand%202011-2016.png?1488163389" class="editor-image img-responsive" data-smartkarma-image-id="21580"></figure><h2><span lang="EN-US">Competitive Landscape</span></h2><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/021/581/original/company%20sahres%20apparel%20accessories%20thailand%20retail.png?1488163453" class="editor-image img-responsive" data-smartkarma-image-id="21581"></figure>…

Headlines
Apparel accessories increases by 3% in current value terms in 2016, to reach THB11.2 billion
Outbound tourists support the demand for apparel accessories
Scarves posts the highest current value growth in apparel accessories in 2016
ICC International and H&amp;M Hennes &amp; Mauritz hold the leading positions in apparel accessories in 2016
Apparel accessories is expected to see a value CAGR of 2% at constant 2016 prices in the forecast period, to reach THB12.3 billion in 2021
Competitive Landscape…

Sector Capsule: Apparel Accessories in Thailand

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<ul><li>Given the tighter rubber supply outlook, we remain bullish on the rubber price uptrend in 2024E, which should be an earnings catalyst for rubber stocks this year.</li><li>As for the stock under our coverage, i.e., NER (Outperform; FV at Bt6.52), its earnings are expected to grow by 36% YoY in 2024E.</li><li>It's worth noting that rubber prices exhibit a correlation with rubber stock prices of approximately 60-80%, factoring in the nature of the business and the varying revenue structures across products. </li></ul>

Given the tighter rubber supply outlook, we remain bullish on the rubber price uptrend in 2024E, which should be an earnings catalyst for rubber stocks this year.As for the stock under our coverage, i.e., NER (Outperform; FV at Bt6.52), its earnings are expected to grow by 36% YoY in 2024E.It's worth noting that rubber prices exhibit a correlation with rubber stock prices of approximately 60-80%, factoring in the nature of the business and the varying revenue structures across products. 

Rubber - Maintain Bullish View on Rubber Prices in 2024E

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.

<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

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

Sri Trang Gloves Thailand  / Equity Bottom-Up

5 in 5 with Sri Trang Gloves Thailand - Touch Of Life

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/halcyon-agri-corp-ltd" target="_blank" data-smartkarma-citation="entities:18191:1" rel="noopener">Halcyon Agri (HACL SP)</a>’s S$0.413 per share MGO from <a href="https://www.smartkarma.com/entities/china-hainan-rubber-industry-group" target="_blank" data-smartkarma-citation="entities:10551:1" rel="noopener">China Hainan Rubber Industry (601118 CH)</a> has met the 50%+ minimum acceptance condition.</li>
<li>The closing date is extended from 24 March to 10 April. The payment settlement is within seven business days of receipt of a valid acceptance.</li>
<li>The offeror currently represents 50.003% of outstanding shares. At the last close, the gross and annualised spread for a 10 April payment is 2.0% and 41.8%, respectively. </li>
</ul>



Halcyon Agri (HACL SP)’s S$0.413 per share MGO from China Hainan Rubber Industry (601118 CH) has met the 50%+ minimum acceptance condition.
The closing date is extended from 24 March to 10 April. The payment settlement is within seven business days of receipt of a valid acceptance.
The offeror currently represents 50.003% of outstanding shares. At the last close, the gross and annualised spread for a 10 April payment is 2.0% and 41.8%, respectively. 


Halcyon Agri (HACL SP): Hainan Rubber’s Offer Is Declared Unconditional

Thailand

Sri Trang Agro-Industry Public Company Limited produces and markets smoked sheet rubber.  The Company sells its products to tire manufacturers as primary market, and exports to Japan, China, Korea, and Taiwan as secondary market.

Sri Trang Agro Industry (STA TB)

Sector Capsule: Apparel Accessories in Thailand

Headlines Apparel accessories increases by 3% in current value terms in 2016, to reach THB11.2 billion Outbound tourists support the demand for...

Euromonitor International Ltd.

Rubber - Maintain Bullish View on Rubber Prices in 2024E

Given the tighter rubber supply outlook, we remain bullish on the rubber price uptrend in 2024E, which should be an earnings catalyst for rubber...

Krungthai XSpring

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

5 in 5 with Sri Trang Gloves Thailand - Touch Of Life

5 in 5 with Sri Trang Gloves Thailand - Touch Of Life

Singapore Exchange Ltd (SGX)

Halcyon Agri (HACL SP): Hainan Rubber’s Offer Is Declared Unconditional

The offer (S$0.413 per share) is unconditional and closes on 10 April. Payment is within seven business days of receipt of a valid acceptance. At...

Arun George