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

<p>BTS’s earnings topped the market’s forecast in 1QFY21/22 owing to extra items. Meanwhile, the core profit was in line with the expectation. We maintain our earnings projection and a Hold rating for BTS pending improvement in the COVID-19 situation, the easing of the lockdown and progress on new contracts.</p>

BTS’s earnings topped the market’s forecast in 1QFY21/22 owing to extra items. Meanwhile, the core profit was in line with the expectation. We maintain our earnings projection and a Hold rating for BTS pending improvement in the COVID-19 situation, the easing of the lockdown and progress on new contracts.

Earnings Review: BTS Group Holdings Plc. (BTS)

Thailand

BTS Group Holdings Public Company Limited is a Thai multi-industry conglomerate with core businesses in mass transit, media, property development, and services. It operates the BTS Skytrain and Bus Rapid Transit systems in Bangkok, offers comprehensive offline-to-online marketing solutions, and invests in various synergistic ventures, including hotels and real estate. The company was founded in Bangkok, Thailand, in 1968.

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BTS Group (BTS TB)

Earnings Review: BTS Group Holdings Plc. (BTS)

Core profit in line, BTS’s earnings topped the market’s forecast in 1QFY21/22 owing to extra items. core profit was in line with the expectation

Krungthai XSpring

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