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 loss from repossessed motorcycles from the subsidiary SCAP should exert downward pressure on earnings during 3Q23-4Q23, which will be evident under the SG&A expense item.</li><li>However, the company anticipates that the impact of this situation peaked last quarter and will subsequently taper off in 4Q23 to 1Q24.</li><li>We maintain a Buy rating, with a fair value of Bt56.43.</li></ul>

The loss from repossessed motorcycles from the subsidiary SCAP should exert downward pressure on earnings during 3Q23-4Q23, which will be evident under the SG&A expense item.However, the company anticipates that the impact of this situation peaked last quarter and will subsequently taper off in 4Q23 to 1Q24.We maintain a Buy rating, with a fair value of Bt56.43.

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