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>We maintain our Outperform rating with a fair value of Bt13.00, based on a required return of 7.1%.</li><li>The valuation metrics indicate that the current valuation is attractive, with upside potential of approximately 16%.</li><li>The medium-term growth outlook is projected at a CAGR of +41% in 2025-26E, supported by accelerated balance sheet clearance and the recovery of related sectors, which will help ease the provisioning burden.</li></ul>

We maintain our Outperform rating with a fair value of Bt13.00, based on a required return of 7.1%.The valuation metrics indicate that the current valuation is attractive, with upside potential of approximately 16%.The medium-term growth outlook is projected at a CAGR of +41% in 2025-26E, supported by accelerated balance sheet clearance and the recovery of related sectors, which will help ease the provisioning burden.

Asia Sermkij Leasing - Weak Asset Quality as Expected