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

<ul><li>BTG announced a share buyback of up to 85mn shares (4.39% of total shares) with a maximum budget of Bt2bn.</li><li>KTX projects that by year-end 2025, BTG will report a net D/E ratio of 0.6x, cash on hand of Bt3.9bn, CFO of Bt12.7bn, and FCF of Bt6.2bn.</li><li>The share buyback is expected to enhance per-share performance (e.g., EPS and DPS) and fair value by around 4% in 2026E.</li></ul>

BTG announced a share buyback of up to 85mn shares (4.39% of total shares) with a maximum budget of Bt2bn.KTX projects that by year-end 2025, BTG will report a net D/E ratio of 0.6x, cash on hand of Bt3.9bn, CFO of Bt12.7bn, and FCF of Bt6.2bn.The share buyback is expected to enhance per-share performance (e.g., EPS and DPS) and fair value by around 4% in 2026E.

BETAGRO (BTG): Share Buyback Program of Up to Bt2bn During Sep 29, 2025

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

Thematic (Sector/Industry)

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to all our Thai friends in your time of grief.Thailand is sailing into unchartered waters, considering that nearly everyone alive has only known one King and that his fiat power was immense, built up over years of devotion to the country.We expect that the Thai stock market will be hurt in the near term, but will eventually stabilize.

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to all our Thai friends in your time of grief.Thailand is sailing into unchartered waters, considering that nearly everyone alive has only known one King and that his fiat power was immense, built up over years of devotion to the country.We expect that the Thai stock market will be hurt in the near term, but will eventually stabilize.

Thailand Mourns Fallen King, Healing Will Take Some Time

Thailand

Pre-Built PCL is a full service construction company. The Company provides contracting services as well as manufactures and distributes construction materials.

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Pre Built Pcl (PREB TB)

Thailand Mourns Fallen King, Healing Will Take Some Time

His Majesty King Bhumibol Adulyadej (Rama IX) passed away at Siriraj Hospital in Bangkok yesterday, 13 October 2016, at 3.52pm. Our condolences to...

A. Stotz Investment Research

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