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.

Thematic (Sector/Industry)

<ul><li>We recommend buying MEGA and MAJOR.</li><li>MEGA’s share price has rebounded by more than 5% over the past two weeks on the market’s expectations for a limited impact from Myanmar’s government ordering the suspension of loan repayments in foreign currencies.</li><li>The firm’s 2022E earnings are forecast to grow 8.68% YoY to Bt2,116mn, driven by the depreciation of the baht, the development of new projects and expansion to new markets with low competition.</li></ul>

We recommend buying MEGA and MAJOR.MEGA’s share price has rebounded by more than 5% over the past two weeks on the market’s expectations for a limited impact from Myanmar’s government ordering the suspension of loan repayments in foreign currencies.The firm’s 2022E earnings are forecast to grow 8.68% YoY to Bt2,116mn, driven by the depreciation of the baht, the development of new projects and expansion to new markets with low competition.

Cross Asset Strategy

<ul><li>We recommend selling KKP (with the return since it was added to the portfolio at 0.7%) after we added it for just one day, as the stock has fallen out of our top rankings.</li><li>However, long-term investors may consider holding it and stopping losses at Bt64.25.</li><li>We have added EA, as the stock is expected to benefit from the potential growth in the EV industry after it acquired a 23.63% share in BYD, which provides electric bus services.</li></ul>

We recommend selling KKP (with the return since it was added to the portfolio at 0.7%) after we added it for just one day, as the stock has fallen out of our top rankings.However, long-term investors may consider holding it and stopping losses at Bt64.25.We have added EA, as the stock is expected to benefit from the potential growth in the EV industry after it acquired a 23.63% share in BYD, which provides electric bus services.

Big Cap Tactical Picks - Highlights of the Day

Thailand

Gulf Development Public Company Limited is a holding company that invests in a diversified portfolio including conventional and renewable power generation, natural gas supply and distribution, infrastructure development, and digital businesses. It develops and manages gas-fired, solar, wind, hydroelectric, biomass, and waste-to-energy projects. The company is headquartered in Bangkok, Thailand, and was founded in 2007.

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Gulf Development (GULF TB)

Big Cap Tactical Picks - Aug 3, 2022

MEGA’s share price has rebounded by more than 5% over the past two weeks on the market’s expectations for a limited impact from Myanmar’s government

Krungthai XSpring

Big Cap Tactical Picks - Highlights of the Day

We recommend selling KKP (with the return since it was added to the portfolio at 0.7%) after we added it for just one day, as the stock has fallen...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

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