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 tap water business has remained resilient during the partial lockdown, as evidenced by the growth of sales volume in 2Q20E.</li><li>However, its bottom line was likely pulled down by a shared loss from CKP owing to the severe drought.</li><li>Given TTW's stable earnings and consistent dividends, with an estimated yield of 4-5% annually, our Hold rating is maintained.</li></ul>

TTW's tap water business has remained resilient during the partial lockdown, as evidenced by the growth of sales volume in 2Q20E.However, its bottom line was likely pulled down by a shared loss from CKP owing to the severe drought.Given TTW's stable earnings and consistent dividends, with an estimated yield of 4-5% annually, our Hold rating is maintained.

2Q20E Earnings to Fall YoY on Shared Loss From CKP