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.

Event-Driven

Central Pacific Financial Corp / Event-Driven

<ul><li>We have a neutral view on CPF's deal to acquire Tesco.</li><li>We assume the acquisition to have a net impact on our 2021E core profit forecast for CPF of +2.2% in case of a direct holding of 20% and -1.7% when including indirect holding through CPALL.</li><li>In the medium to long term, the acquisition may lead to significant upside on the back of synergy benefits.</li></ul>

We have a neutral view on CPF's deal to acquire Tesco.We assume the acquisition to have a net impact on our 2021E core profit forecast for CPF of +2.2% in case of a direct holding of 20% and -1.7% when including indirect holding through CPALL.In the medium to long term, the acquisition may lead to significant upside on the back of synergy benefits.

Neutral View on Tesco Deal, Positive in Medium Term

United States

Copart, Inc. provides vehicle suppliers, primarily insurance companies, with a variety of services to process and sell salvage vehicles through auctions. Salvaged vehicles are primarily sold to licensed dismantlers, rebuilders, and used vehicle dealers.

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Copart Inc (CPRT US)

Neutral View on Tesco Deal, Positive in Medium Term

We have a neutral view on CPF's deal to acquire Tesco. We assume the acquisition to have a net impact on our 2021E core profit forecast for CPF of...

Krungthai XSpring

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