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>Asian bourses advanced, while the SET continued to edge higher on expectations of economic stimulus from the new economic team and steady fund inflows.</li><li>The index has moved closer to the key resistance at 1,284, putting it within testing range and raising the potential for a breakout.</li><li>Nevertheless, we expect the index to maintain its upward momentum toward the 1,300-point level. We recommend selective speculation.</li></ul>

Asian bourses advanced, while the SET continued to edge higher on expectations of economic stimulus from the new economic team and steady fund inflows.The index has moved closer to the key resistance at 1,284, putting it within testing range and raising the potential for a breakout.Nevertheless, we expect the index to maintain its upward momentum toward the 1,300-point level. We recommend selective speculation.

Krungthai XSpring Technical Eng. SEPTEMBER 11, 2025

Independent Investment Research, The IDEA!

The IDEA!

Independent Investment Research

The Idea-Driven Equities Analyses company (the IDEA!) is an employee-owned boutique providing independent investment research and financial consultancy services with a clear focus on the Benelux countries. The company was founded in the summer of 2007 by Henk Slotboom and Maarten Verbeek, both with more than 35 years of professional experience in the financial sector. The IDEA! differentiates itself by focusing on adding value through self-initiated in-depth, idea-driven investment research, as well as by bespoke research assignments for institutional investors, hedge funds and private equity. In addition, we provide market intelligence, strategic research and – together with our business partners – consultancy services to businesses. In case you are interested in receiving more information, a sample of our products or an introductory meeting, please send a message to info@theidea.nl.

<ul>
<li>Ahold Delhaize | expands collaboration with Instacart Supermarket News reports that Ahold Delhaize USA is expanding its partnership with Instacart by adopting the FoodStorm order management system across select banners, including Food Lion, Giant and Martin’s.</li>
<li>The platform streamlines ordering for made-to-order items such as bakery platters, deli trays, desserts, and floral arrangements, offering customers flexible options to order online, by phone, or in-store.</li>
<li>FoodStorm’s self-service tools and purchase history access improve convenience and personalization, while creating efficiencies for store teams.</li>
</ul>


Ahold Delhaize | expands collaboration with Instacart Supermarket News reports that Ahold Delhaize USA is expanding its partnership with Instacart by adopting the FoodStorm order management system across select banners, including Food Lion, Giant and Martin’s.
The platform streamlines ordering for made-to-order items such as bakery platters, deli trays, desserts, and floral arrangements, offering customers flexible options to order online, by phone, or in-store.
FoodStorm’s self-service tools and purchase history access improve convenience and personalization, while creating efficiencies for store teams.


What's New(S) In Amsterdam - 29 August (Ahold Delhaize | BAM Group | VLK | PostNL | Sif Holding)

<ul><li>The SET Index today is expected to remain volatile, with the support levels at 1,250/1,231 points and the resistance levels at 1,260/1,273 points.</li><li>Domestic factors are expected to be slightly positive, as the Thailand Focus 2025 event is likely to generate positive sentiment for stocks of participating companies, including CPALL, CPF, CPAXT, TRUE, KTB, BAM, MINT, THAI, BDMS, and SCB.</li><li>The removal of a Fed Governor by Trump caused volatility in US financial markets.</li></ul>

The SET Index today is expected to remain volatile, with the support levels at 1,250/1,231 points and the resistance levels at 1,260/1,273 points.Domestic factors are expected to be slightly positive, as the Thailand Focus 2025 event is likely to generate positive sentiment for stocks of participating companies, including CPALL, CPF, CPAXT, TRUE, KTB, BAM, MINT, THAI, BDMS, and SCB.The removal of a Fed Governor by Trump caused volatility in US financial markets.

Krungthai XSpring Zoom Eng. August 27, 2025

<ul><li>President Trump’s threat to raise tariffs on imports from Europe and China pressured Asian markets and the SET to move lower.</li><li>Although the index tumbled, no negative signals emerged to further weigh on it.</li><li>We recommend selective speculation while expecting the index to show limited downside or move sideways in the near term.</li></ul>

President Trump’s threat to raise tariffs on imports from Europe and China pressured Asian markets and the SET to move lower.Although the index tumbled, no negative signals emerged to further weigh on it.We recommend selective speculation while expecting the index to show limited downside or move sideways in the near term.

Krungthai XSpring Technical Eng. August 27, 2025

<ul>
<li>Having digested yesterday’s published 1Q25 solid set of results and information that was shared during the company’s earnings call, we decided to stick to our neutral stance on the stock.</li>
<li>Although the company has proven to be rather resilient and performed better than expected in the current uncertain environment, we fear that the real test still lies ahead: the potential impact of the trade tariffs still has to kick in.</li>
<li>After all, a lot of the tariffs that were announced on ‘Liberation Day’ have been postponed for 90 days.</li>
</ul>


Having digested yesterday’s published 1Q25 solid set of results and information that was shared during the company’s earnings call, we decided to stick to our neutral stance on the stock.
Although the company has proven to be rather resilient and performed better than expected in the current uncertain environment, we fear that the real test still lies ahead: the potential impact of the trade tariffs still has to kick in.
After all, a lot of the tariffs that were announced on ‘Liberation Day’ have been postponed for 90 days.


Netherlands

Koninklijke BAM Groep N.V. offers residential and non-residential construction services.  The Company offers property development, civil construction, cable and pipe systems, road, and mechanical and electrical systems construction services.  BAM operates primarily in the Netherlands and Belgium.

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Koninklijke Bam Groep Nv (BAMNB NA)

Krungthai XSpring Technical Eng. SEPTEMBER 11, 2025

Asian bourses advanced, while the SET continued to edge higher on expectations of economic stimulus from the new economic team and steady fund...

Krungthai XSpring

What's New(S) In Amsterdam - 29 August (Ahold Delhaize | BAM Group | VLK | PostNL | Sif Holding)

FoodStorm’s self-service tools and purchase history access improve convenience and personalization, while creating efficiencies for store teams.

The IDEA!

Krungthai XSpring Zoom Eng. August 27, 2025

The SET Index today is expected to remain volatile, with the support levels at 1,250/1,231 points and the resistance levels at 1,260/1,273 points.

Krungthai XSpring

Krungthai XSpring Technical Eng. August 27, 2025

President Trump’s threat to raise tariffs on imports from Europe and China pressured Asian markets and the SET to move lower.

Krungthai XSpring

What's New(s) in Amsterdam

Having digested yesterday’s published 1Q25 solid set of results and information that was shared during the company’s earnings call, we decided to...

The IDEA!

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)