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BBA Thammasat -- The Winners of the 2012-13 CFA Institute Research Challenge in Thailand (4 years in a row)

Written by Apinut Assawakul, BBA#18
On 12 January 2013, from a long period of hard-working; we, as the representative of Thammasat University, won the CFA Research Challenge in Thailand for another year.
Before this year competition, Thammasat University has won 3 years in a row for National Champion, 2 years for Regional Champion and just last year for the Global Champion. CFA Research Challenge is the competition to promote the best practice in equity research through hands-on mentoring and intensive training in company analysis and presentation skills. (
For local round, the competition started on September 23, 2012 with a kick-off meeting. There were 6 teams from 6 universities to participate in this competition but only 4 teams could proceed to the final round. At the meeting, we were give IVL as a subject company to do the analysis.

After we had researched enough data on IVL and its industry, we began to analyse the stock performance. With comments and suggestions from Assoc. Prof. Dr. Pantisa Pavabutr and Asst. Prof. Dr. Anchada Charoenrook, and also assigned industry mentor, we came up with SELL recommendation on IVL. On 16th of December, we submitted the report and passed to the final round. The format of final round was 10 minutes presentation on stock analysis and 10 minutes Q&A from honorable judges.
After the announcement of finalist, we focused on doing presentation slides and practicing in both presentation and Q&A.
On 12 January 2013, we went to the Stock Exchange of Thailand to compete in the final round of CFA Research Challenge Competition 2013. Apart from us, there were 3 other teams which are Chulalongkorn University, Assumption University and Webster University.
Through tough presentation and Q&A among all of 4 universities, Thammasat University, for the 4th year in a row, won the national round. As the national winner, we proceed to Regional Round which is held at Kuala Lumper, Malaysia. There are 19 universities from all over Asia to compete with us at next round.
The national champion is an accomplishment to us, and Thammasat University, however it is also only the beginning another challenge.
Lastly, we would like to express our gratitude to Ajarn Pantisa and Ajarn Anchada. We definitely could not have reached this far without supports from both of them who helped coaching us in terms of analysis as well as presentation skills. We also would like to say thank you to BBA Thammasat faculty members for the support.
Posted date: January 21, 2013 – 09:50 Hrs.