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).

Reality Check XII: How Much Upside Can CP All Squeeze from a New Banking Venture?

StubWorld - Set-Up & Unwind Extremes: CPF/CPALL

StubWorld - Set-Up & Unwind Extremes: China Conch, China Unicom

SCB Mounts a White Knight Rescue for Pace

TMB Vs SCB: Bancassurance Ain't Big Enough for the Two of Us!

Reality Check IX: What Has More Upside in Thailand: Innovative Products, Adders, or Deals?

IPO Radar: SHREIT, Charoen's Next Hotel REIT

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

<p><strong>The Laggard</strong>. Although we have not lost a dime investing in SCB thus far, it is fair to say that the stock has underperformed most of the large Thai banks in 2017, despite being one of the most profitable. We certainly didn't have the same issue when we invested in our alma mater KBANK ( <a href="https://www.smartkarma.com/insights/the-little-league-season-premiere-house-of-green" target="_blank" data-smartkarma-citation="insights:7748">The Little League (Season Premiere): House of Green</a>) many years ago. After the stock doubled in a few years, we sold KBANK at around Bt200/sh when we grew skittish about valuations. The stock is worth 15-20% more…</p>

The Laggard. Although we have not lost a dime investing in SCB thus far, it is fair to say that the stock has underperformed most of the large Thai banks in 2017, despite being one of the most profitable. We certainly didn't have the same issue when we invested in our alma mater KBANK ( The Little League (Season Premiere): House of Green) many years ago. After the stock doubled in a few years, we sold KBANK at around Bt200/sh when we grew skittish about valuations. The stock is worth 15-20% more…

Siam Commercial Bank

SCB Trades Size for Relevance