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>The 3Q20 net profit grew by 57% YoY and 4% QoQ, which was stronger than expected.</li><li>In 4Q20E, the chemical business is likely to benefit from the expected recovery in demand from China and India, while chemical spreads have remained solid.</li><li>Our current earnings forecast is tilting toward the upside; therefore, we maintain a Buy rating and our DCF-based target price of Bt394/share.</li></ul>

The 3Q20 net profit grew by 57% YoY and 4% QoQ, which was stronger than expected.In 4Q20E, the chemical business is likely to benefit from the expected recovery in demand from China and India, while chemical spreads have remained solid.Our current earnings forecast is tilting toward the upside; therefore, we maintain a Buy rating and our DCF-based target price of Bt394/share.

Scc Holdings

3Q20 Earnings Rose 57% YoY and 4% QoQ