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>The company reaffirmed its 2025E targets of land presales at 2,350 rai, an additional 200,000 sqm of rental space, and the sale of 70,000 sqm of assets to WHART worth Bt1.5bn.</li><li>The company announced a cut in its 2025E investment budget to Bt17–18bn (from Bt20bn), consistent with guidance provided at the analyst meeting.</li><li>The company remains confident in strong presales over the next 1–2 years, supported by: i) BOI approvals in 1H25, which increased and are comparable to 2024 levels, with the digital and data center (DC) industry accounting for 26% during 2023–1H25.</li></ul>

The company reaffirmed its 2025E targets of land presales at 2,350 rai, an additional 200,000 sqm of rental space, and the sale of 70,000 sqm of assets to WHART worth Bt1.5bn.The company announced a cut in its 2025E investment budget to Bt17–18bn (from Bt20bn), consistent with guidance provided at the analyst meeting.The company remains confident in strong presales over the next 1–2 years, supported by: i) BOI approvals in 1H25, which increased and are comparable to 2024 levels, with the digital and data center (DC) industry accounting for 26% during 2023–1H25.

WHA CORPORATION Plc. (WHA): The 2H25E Outlook Remains In Line With Expectations

Thailand

Thaire Life Assurance PCL provides a range of reinsurance products and services. The Company offers reinsurance coverage for business, individual, group, mortgage, credit, life, personal accident, critical illness and health.

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Thaire Life Assurance (THREL TB)

WHA CORPORATION Plc. (WHA): The 2H25E Outlook Remains In Line With Expectations

The company reaffirmed its 2025E targets of land presales at 2,350 rai, an additional 200,000 sqm of rental space, and the sale of 70,000 sqm of...

Krungthai XSpring

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