Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Thematic (Sector/Industry)

Over the past 20 years, Thailand faced two financial crisis, namely Tom Yum Goong in 1997 and Lehman in 2008. Discounting the political nonsense that is just part of life down here, we think there are five important lessons to take away, regarding: 1) the importance of investors; 2) liabilities-cash flow matching; 3) sticking to core competencies as well as avoiding : 4) currency pegs to dollars (or any currency); and 5) capital controls. No event in Thai business history has transformed the landscape more than the 1997 crisis. In this review, we highlight a few anecdotes of those who survived and those who didn't (at least not in their original forms).

Over the past 20 years, Thailand faced two financial crisis, namely Tom Yum Goong in 1997 and Lehman in 2008. Discounting the political nonsense that is just part of life down here, we think there are five important lessons to take away, regarding: 1) the importance of investors; 2) liabilities-cash flow matching; 3) sticking to core competencies as well as avoiding : 4) currency pegs to dollars (or any currency); and 5) capital controls. No event in Thai business history has transformed the landscape more than the 1997 crisis. In this review, we highlight a few anecdotes of those who survived and those who didn't (at least not in their original forms).

Five Biggest Lessons from Thai Financial Crisis

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.

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to all our Thai friends in your time of grief.Thailand is sailing into unchartered waters, considering that nearly everyone alive has only known one King and that his fiat power was immense, built up over years of devotion to the country.We expect that the Thai stock market will be hurt in the near term, but will eventually stabilize.

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to all our Thai friends in your time of grief.Thailand is sailing into unchartered waters, considering that nearly everyone alive has only known one King and that his fiat power was immense, built up over years of devotion to the country.We expect that the Thai stock market will be hurt in the near term, but will eventually stabilize.

Thailand Mourns Fallen King, Healing Will Take Some Time

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

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Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

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<ul>
<li>Obama continues the 'pivot to Asia' by attending the ASEAN meeting in Laos.</li>
<li>ASEAN is a critical component of SE Asian stability, partnership with the US and should be a united front in protesting Chinese intrusions into the South China Sea.</li>
<li>A high-profile spat with Philippine president Duterte was an unfortunate distraction and an unhelpful development for the Philippines which benefits from strong U.S. support.</li>
<li>Thailand and Malaysia look like the best opportunities in ASEAN in the medium-term.</li>
<li>BUY…</li>
</ul>


Obama continues the 'pivot to Asia' by attending the ASEAN meeting in Laos.
ASEAN is a critical component of SE Asian stability, partnership with the US and should be a united front in protesting Chinese intrusions into the South China Sea.
A high-profile spat with Philippine president Duterte was an unfortunate distraction and an unhelpful development for the Philippines which benefits from strong U.S. support.
Thailand and Malaysia look like the best opportunities in ASEAN in the medium-term.
BUY…


Takeaways from ASEAN - Investment Opportunities

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.

Equity Bottom-Up

<ul><li>Technically, the SET Index is expected to gain, with the resistance at 1,388/1,394 points (75-day EMA) and the support at 1,372/1,365 points, buoyed by the passage of the US spending bill, signaling a likely avoidance of a government shutdown, and by the Thai House of Representatives' approval of the 2024 Budget Bill on Friday evening.</li><li>This collectively indicates that the index continues its upward trajectory within the 1,330-1,400 point range.</li><li>In the short term, a rebound toward the resistance is foreseeable after last week's dip to the lowest point at 1,372 points.</li></ul>

Technically, the SET Index is expected to gain, with the resistance at 1,388/1,394 points (75-day EMA) and the support at 1,372/1,365 points, buoyed by the passage of the US spending bill, signaling a likely avoidance of a government shutdown, and by the Thai House of Representatives' approval of the 2024 Budget Bill on Friday evening.This collectively indicates that the index continues its upward trajectory within the 1,330-1,400 point range.In the short term, a rebound toward the resistance is foreseeable after last week's dip to the lowest point at 1,372 points.

Keep a Close Watch on the Thai Trade Balance

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,393/1,388 points and the resistance at 1,410/1,450 points (10-day EMA/25-day EMA).</li><li>The S&P Global PMIs are expected to fall slightly to 49.8 (vs. 50), 50.4 (vs. 50.6) and 50.6 (vs. 50.7), respectively, reflecting a resilient US economy, despite a modest slowdown from the previous month.</li><li>The market will be focusing on ECB President Lagarde's speech, which will indicate the direction of the ECB's policy interest rate.</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,393/1,388 points and the resistance at 1,410/1,450 points (10-day EMA/25-day EMA).The S&P Global PMIs are expected to fall slightly to 49.8 (vs. 50), 50.4 (vs. 50.6) and 50.6 (vs. 50.7), respectively, reflecting a resilient US economy, despite a modest slowdown from the previous month.The market will be focusing on ECB President Lagarde's speech, which will indicate the direction of the ECB's policy interest rate.

Krungthai XSpring Zoom Eng. November 24, 2023

Thailand

Sky Tower Public Company Limited (STOWER) is Thailand's first high-voltage transmission tower manufacturer and a leading telecommunication tower manufacturer. The company designs, manufactures, and installs steel structures for transmission lines, substations, and telecommunication towers for mobile network operators. Additionally, Sky Tower offers galvanizing services, steel fabrication, distribution of industrial products, and manages biomass and renewable energy businesses. Headquartered in Bangkok, Thailand, the company was founded in 1967.

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Sky Tower (STOWER TB)

Five Biggest Lessons from Thai Financial Crisis

Over the past 20 years, Thailand faced two financial crisis, namely Tom Yum Goong in 1997 and Lehman in 2008. Discounting the political nonsense...

Athaporn Arayasantiparb, CFA

Thailand Mourns Fallen King, Healing Will Take Some Time

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to...

A. Stotz Investment Research

Takeaways from ASEAN - Investment Opportunities

Obama continues the 'pivot to Asia' by attending the ASEAN meeting in Laos. ASEAN is a critical component of SE Asian stability, partnership with...

David Riedel

Keep a Close Watch on the Thai Trade Balance

Technically, the SET Index is expected to gain, with the resistance at 1,388/1,394 points (75-day EMA) and the support at 1,372/1,365 points,...

Krungthai XSpring

Krungthai XSpring Zoom Eng. November 24, 2023

Technically, the SET Index is expected to move sideways down, with the support at 1,393/1,388 points and the resistance at 1,410/1,450 points...

Krungthai XSpring

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