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.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Equity Bottom-Up

<ul><li>TTW's 2Q20 results were in line with the expectation on the resilient tap water business, weighed down by the loss contribution from CKP.</li><li>The 2H20E earnings are likely to pick up strongly thanks to the seasonal rebound of CKP's operation.</li><li>Our Hold rating is maintained given its sustained and attractive yield of nearly 5% annually.</li></ul>

TTW's 2Q20 results were in line with the expectation on the resilient tap water business, weighed down by the loss contribution from CKP.The 2H20E earnings are likely to pick up strongly thanks to the seasonal rebound of CKP's operation.Our Hold rating is maintained given its sustained and attractive yield of nearly 5% annually.

TTW

2Q20 NP within Expectation