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 add CK to the portfolio thanks to the strength of its construction services business, driven by both its backlog and the potential to gain more large projects in the future.</li><li>The earnings contribution from affiliates (BEM, CKP and TTW) should also act as a cushion against the impact of earnings fluctuations.</li><li>The consensus estimate calls for earnings growth at 41.63% YoY to Bt1.56bn in 2023E.</li></ul>

We add CK to the portfolio thanks to the strength of its construction services business, driven by both its backlog and the potential to gain more large projects in the future.The earnings contribution from affiliates (BEM, CKP and TTW) should also act as a cushion against the impact of earnings fluctuations.The consensus estimate calls for earnings growth at 41.63% YoY to Bt1.56bn in 2023E.

CK Solution

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