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).

Thaicom: Heads You Win, Tails...You Win a Little Less

Turnarounds: Finding A Phoenix In the Land of the Dead

Equity Bottom-Up

In this review, we look at five Thai stocks (Intuch, Thaicom, BEC, BTS, TKS) from diverse backgrounds. What they have in common is headwinds from either analysts or the market, which can be reflected in their recently weak share price performance. We intend to be long-term shareholders of these stocks and are accumulating even as many continue to sell them, because we see several innate strengths in them. For example, we like that:<ul><li>Intuch provides high and stable yields during tough times and is cheap compared to underlying blue chip AIS.</li><li>Thaicom is the only satellite operator in Thailand and a global operator with dollar-priced service. The demand for bandwidth continues to rise as consumers increasingly demand higher resolution.</li><li>BEC offers low-cost (to the consumer) relatively premium product to both viewers and advertisers (on CPRP) and has one of the highest ROE in the industry.</li><li>BTS has built an ecosystem where they can generate future profits from tickets, advertising, and property, and looks likely to double in size geographically.</li><li>TKS's secret weapon, the linerless label, could save costs for manufacturers big time.</li></ul>

In this review, we look at five Thai stocks (Intuch, Thaicom, BEC, BTS, TKS) from diverse backgrounds. What they have in common is headwinds from either analysts or the market, which can be reflected in their recently weak share price performance. We intend to be long-term shareholders of these stocks and are accumulating even as many continue to sell them, because we see several innate strengths in them. For example, we like that:Intuch provides high and stable yields during tough times and is cheap compared to underlying blue chip AIS.Thaicom is the only satellite operator in Thailand and a global operator with dollar-priced service. The demand for bandwidth continues to rise as consumers increasingly demand higher resolution.BEC offers low-cost (to the consumer) relatively premium product to both viewers and advertisers (on CPRP) and has one of the highest ROE in the industry.BTS has built an ecosystem where they can generate future profits from tickets, advertising, and property, and looks likely to double in size geographically.TKS's secret weapon, the linerless label, could save costs for manufacturers big time.

Five Contrarian Stock Ideas for the Long Run

Intouch Holdings

Five Contrarian Stock Ideas for the Long Run