A curated database of mid-market Thai manufacturers, private and listed, structured from official filings into comparable one-pagers.
Every published target in one table. Filter by sector, tier, margin and succession, then open any company.
Open a target and read it top to bottom, from the pitch and risk check to the full profile behind them.
Each target opens on its investment case and risk check, then gives the full profile behind it. In English, sourced from primary filings.
What the company is, three reasons it is a target for its deal type, why now, what you would have to believe, likely buyers and an indicative EV, beside a five-year revenue and margin chart.
The same six risks on every target, each rated clean, watch or material with its reason: earnings quality, leverage, concentration, succession, margin trajectory, ESG.
The argument in full: the thesis and value-creation levers, what the deal is not, key financial takeaways, and ownership, succession and governance.
Company facts, shareholders and management, the business model, and five years of financials: P&L, balance sheet, cash generation, ratios and a valuation bridge.
Every filing and source cited, with the version history, so any number can be traced back.
Every target is rated clean, watch or material on the same six risks, each with its reason. These are illustrative.
The monthly letter on Thai macro data, M&A signals and sector moves. Free on Substack, sourced from official filings, with estimates always flagged.
Ask anyone what the Foreign Business Act says and you get the same sentence back: foreigners can only own 49% of a Thai company.
Registered capital is the first number you see on a Thai company.
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Longer reads built from DBD filings and SET disclosures: who owns a sector, where margins sit, and where consolidation starts. They open inside the database.
How margins and balance sheets compare across Thai packaging manufacturers on DBD filings, and which parts of the sector look ready to consolidate.
Who controls Thailand's mid-market food processors, where the founding generation is stepping back, and which deal types fit the ownership structures on file.
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