Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Equity Bottom-Up

<ul><li>We recommend buying SAWAD thanks to the positive prospects for its 2023E earnings.</li><li>In the past four weeks, the consensus estimate for the firm's earnings has been revised up by 10.33% to Bt4,945mn (+13.59% YoY) on the back of the acceleration in the hire purchase loan portfolio and the portfolio of secured loans against homes and land.</li><li>The uptick in its loan portfolios should be driven by the recovery of the Thai economy and the synergy benefits from partnering with BFIT and SCAP.</li></ul>

We recommend buying SAWAD thanks to the positive prospects for its 2023E earnings.In the past four weeks, the consensus estimate for the firm's earnings has been revised up by 10.33% to Bt4,945mn (+13.59% YoY) on the back of the acceleration in the hire purchase loan portfolio and the portfolio of secured loans against homes and land.The uptick in its loan portfolios should be driven by the recovery of the Thai economy and the synergy benefits from partnering with BFIT and SCAP.

Netherlands

Basic-Fit N.V. operates health and fitness clubs. The Company offers gyms, spa, group lessons, and health counseling services. Basic-Fit conducts business in the Netherlands, Belgium, Luxembourg, France, and Spain.

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Basic-Fit (BFIT NA)

BIG CAP Tactical Picks

We recommend buying SAWAD thanks to the positive prospects for its 2023E earnings. In the past four weeks, the consensus estimate for the firm's...

Krungthai XSpring

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