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 recommend selling PLANB (return: -4.43%), as the stock has fallen out of our top rankings.</li><li>We recommend buying TCAP in response to the likelihood that the 4Q22E earnings will grow by 5.98% QoQ, driven by growth in the lending business during the Motor Expo (average sales at around 30k units/event) and expectations for a dividend yield for the 2H22E performance at around 4.21% (expected DPS of Bt1.80).</li></ul>

We recommend selling PLANB (return: -4.43%), as the stock has fallen out of our top rankings.We recommend buying TCAP in response to the likelihood that the 4Q22E earnings will grow by 5.98% QoQ, driven by growth in the lending business during the Motor Expo (average sales at around 30k units/event) and expectations for a dividend yield for the 2H22E performance at around 4.21% (expected DPS of Bt1.80).

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