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 Week that Was in ASEAN@Smartkarma - Thai Politics, Bank Negara Indonesia, and Singapore Property

Snippets #24: Kerry's Thai IPO, SCB Re-Arranges Its Portfolio

BTS Group Warrants - The Less the Merrier

Reality Check XVIII: How Much Mojo Can True Derive From True Ryde?

Snippets #22: New Transit Ad Giant, Duty Free Rivalry

PLANB: Moving Forward with VGI, the Outdoor Media Tycoon

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

Italian Thai Development / Equity Bottom-Up

Five recent news/developments for this period. Here's a quick run-down:<ul>
<li>
Italian-Thai enters the hotel arena.The country's biggest contractor by backlog plans to invest Bt5bn in hotels over this year and the next.</li>
<li>
BAY's banking agents. BAY plans to add three more banking agents to its current list of allies, which includes Forth and CP All. The country's largest foreign bank is following the industry trend of investing less in branches.</li>
<li>
Charoen grabs Starbucks Thailand. The country's second richest (and most acquisitive) tycoon joins forces with HK's Maxim to buy Starbucks (Thailand), sending shivers through the coffee industry.</li>
<li>
Babies to the rescue. Thai Union expects to be the global market leader in a new business of supplying tuna oil to baby formula companies with a 25-30% market share.</li>
<li>
Ride-hailing IPOs drag down True. True Corp has underperformed AIS in recent months since Lyft and Uber IPO'd. Internally, we believe this is because the upside potential for True Ryde as a ride hailing app is much reduced by their poor performances.</li>
</ul>

Five recent news/developments for this period. Here's a quick run-down:

Italian-Thai enters the hotel arena.The country's biggest contractor by backlog plans to invest Bt5bn in hotels over this year and the next.

BAY's banking agents. BAY plans to add three more banking agents to its current list of allies, which includes Forth and CP All. The country's largest foreign bank is following the industry trend of investing less in branches.

Charoen grabs Starbucks Thailand. The country's second richest (and most acquisitive) tycoon joins forces with HK's Maxim to buy Starbucks (Thailand), sending shivers through the coffee industry.

Babies to the rescue. Thai Union expects to be the global market leader in a new business of supplying tuna oil to baby formula companies with a 25-30% market share.

Ride-hailing IPOs drag down True. True Corp has underperformed AIS in recent months since Lyft and Uber IPO'd. Internally, we believe this is because the upside potential for True Ryde as a ride hailing app is much reduced by their poor performances.


Snippets #23: Italian-Thai's Hotel Diversification, New Starbucks Honcho!