Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Athaporn served as Head of Research for UOB and ANZ in Thailand and was an award-winning telecoms analyst at UBS in 2010 (AsiaMoney Thailand category) and Regional Strategist for DMG in Singapore. Prior to that, he also served as Kasikornbank credit analyst and scholar. He has a total work experience of 22 years, of which 19 were in research and 9 in research management roles. He started his career as an engineer for PTT and currently manages family investments. He holds an MBA from Stern (NYU) and CFA Charter since 2006.

Apart from IPO Radar, which focuses on future listings, MCorp Review also performs financial advisory services for TKC Services and provides 11 other on-going thematic series ranked by frequency in descending order, namely:

1) Snippets (news-driven);
2) Sathorn Series (financial services);
3) Silicon Stories (technology); 
4) Thai-Coons (billionaire origin series);
5) Reality Check (data-driven, investigative);
6) Thai Media Spotlight;
7) Political Pit Stop; 
8) Telecom Review; 
9) Thai Macro Watch (read-through from foreign events);  
10) Small Cap Diary; and
11) Property Grid

There are also 3 limited-time series driven by specific events or locations, namely:
1) Thai Corona Crisis;
2) South Series; and
3) Mechanics and Details (deal forensics).

The IPhone X Hits Thailand in Another Stalemate

Reality Check 2018: Is True Worth a Bet After the Asset Sales?

Three Kingdoms of Thai Telecoms: The Battle of 2300MHz

DTAC's Plan B: 2300MHz Spectrum JV with TOT

Asean (Thailand) Focused Independent Research

M Corp Review

M Corp is led by Athaporn Arayasantiparb who served as Head of Research for UOB and ANZ in Thailand and was an award-winning telecoms analyst at UBS in 2010 (AsiaMoney Thailand category) and Regional Strategist for DMG in Singapore. Prior to that, he also served as Kasikornbank credit analyst and scholar. He has a total work experience of 17 years, of which 14 were in research and 4 in research management roles. He started his career as an engineer for PTT and currently manages family investments. He holds an MBA from Stern (NYU) and CFA Charter since 2006. Apart from IPO Radar, which focuses on future listings, MCorp Review also provides six on-going thematic series ranked by frequency in descending order, namely: 1) Silicon Stories (technology) 2) Sathorn Series (financial services) 3) Thai-Coons (billionaire origin stories) 4) Reality Check (data-driven, investigative) 5) Thai Media Spotlight; and 6) Thai Macro Watch (global market drivers).

Equity Bottom-Up

Total Access Communication / Equity Bottom-Up

<p>We exited DTAC after its win over the 2.3 GHz license over AIS and True Move. The share price promptly surged almost Bt59/sh, and rightfully so, because the TOT's license came with no variable costs, a first in Thai telecom history. Since then, however, the regulator's discussions with TOT regarding this same license prompted a decline of almost Bt10/sh. From our view, DTAC is worth Bt47/sh even without this license, which is why we are happy to buy the stock under the level. Analysts on the…</p>

We exited DTAC after its win over the 2.3 GHz license over AIS and True Move. The share price promptly surged almost Bt59/sh, and rightfully so, because the TOT's license came with no variable costs, a first in Thai telecom history. Since then, however, the regulator's discussions with TOT regarding this same license prompted a decline of almost Bt10/sh. From our view, DTAC is worth Bt47/sh even without this license, which is why we are happy to buy the stock under the level. Analysts on the…

Total Access Communication

DTAC's New Regulatory Overhang