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

Thoresen Thai Agencies / Equity Bottom-Up

<ul><li>TTA's performance is largely tied to the shipping business</li><li>Agrochemical and food & beverage businesses are cash cows, while the offshore services business is turning around nicely</li><li>Expect earnings to decline in 2023-24E</li></ul>

TTA's performance is largely tied to the shipping businessAgrochemical and food & beverage businesses are cash cows, while the offshore services business is turning around nicelyExpect earnings to decline in 2023-24E

Thailand

Mermaid Maritime Public Company Limited is a prominent international subsea and offshore services company. It provides inspection, repair, maintenance (IRM), transportation, installation (T&I), and cable laying services to the offshore oil and gas industry. The company was founded in 1983 and is headquartered in Bangkok, Thailand.

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Mermaid Maritime (MMT SP)

Cheap but Earnings in Decline Trend

TTA's performance is largely tied to the shipping business Agrochemical and food & beverage businesses are cash cows, while the offshore...

Krungthai XSpring

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