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BBA Thammasat – The Winners of the 2011-12 CFA Institute Research Challenge in Thailand

By Sorawit Patumraj, BBA#17
BBA Thammasat University had once again secured the winning trophy from CFA Institute Research Challenge, Thailand. In fact, this year marked the third consecutive winning year for the BBA Thammasat.  The result was announced on January 14, 2012 after the final presentation at the Stock Exchange of Thailand. The aim of the event was to give both undergraduate and graduate students opportunities to compete in writing and presenting the research on a specific stock. This year’s target company was CP All Public Company Limited (SET50: CPALL), the owner of Thailand’s largest convenience store chain – 7-Eleven.
The Challenge had initially involved seven participating teams from seven different universities, namely Thammasat University, Chulalongkorn University, SASIN, Mahidol University, Assumption University, Webster’s University and NIDA. Only four, including Thammasat, Chulalongkorn, SASIN and Webster’s, advanced to the finals based on the quality of their reports submitted earlier. Each of the four teams presented its recommendation to a panel of judges who were CFA charter members from renowned financial institutions.

The BBA Thammasat Team rated a strong “BUY” on CPALL and was able to give its supporting presentation up to the professional quality. There were three core reasons that made CPALL an attractive stock under the current market condition. One, CPALL was a defensive growth stock; two, CPALL had a sustainable business model; and three, CPALL had no significant competitors on par. All together, these three reasons translated into a high upside of CPALL while the downside risks that would trigger a change to the Team’s recommendation were relatively small.
Having won the national round, the next destination of the BBA Thammasat Team, which consists of Jackrit Bumrungtrakul, Kittikiat Tantivuttikiti, Panus Hongrapipat, Sorawit Patumraj, and Wimolnat Tanganurukpongsa, is the regional competition in Hong Kong on March 2. The BBA Thammasat will contest other seventeen teams from fifteen different Asian countries. The winner of the region will subsequently represent Asia-Pacific at the global round in New York.
The Team would like to take this opportunity to express its endless appreciation to Associate Professor Dr. Pantisa Pavabutr and Dr. Anchada Charoenrook for their tutelage and contribution. The heartfelt thanks also extend beyond other teachers who have imparted to the team members a great deal of knowledge relevant to the competition, along with last year’s CFA Thailand winners.   
Posted date: January 20, 2012 – 10:05 hrs.