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

Asset World Corporation / Equity Bottom-Up

<ul>
<li>Last week, AWC Lifestyle Properties REIT (AWR) filed with the Securities and Exchange Commission for an offering of up to Bt43bn.</li>
<li>Although the asset sale to AWR would reduce revenue, the proceeds are expected to repay debt, lowering IBD/E and interest expenses.</li>
<li>We maintain our long-term earnings growth outlook of 13% CAGR, driven by hotel network expansion and higher RevPAR.</li>
</ul>


Last week, AWC Lifestyle Properties REIT (AWR) filed with the Securities and Exchange Commission for an offering of up to Bt43bn.
Although the asset sale to AWR would reduce revenue, the proceeds are expected to repay debt, lowering IBD/E and interest expenses.
We maintain our long-term earnings growth outlook of 13% CAGR, driven by hotel network expansion and higher RevPAR.


Asset Sale to AWR Offers Further Upside From Lower Interest Expenses