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 MAJOR (return: +2.46%), as the stock has fallen out of our top rankings.</li><li>We have added MINT to the portfolio, as its earnings are expected to accelerate in 2H22E on the back of both the hotel and restaurant businesses, enabling it to turn around from the loss of Bt13.2bn in 2021 to a profit of Bt1,187mn in 2022E (consensus estimate).</li><li>Meanwhile, risks regarding its business in Europe have been priced in to a certain degree.</li></ul>

We recommend selling MAJOR (return: +2.46%), as the stock has fallen out of our top rankings.We have added MINT to the portfolio, as its earnings are expected to accelerate in 2H22E on the back of both the hotel and restaurant businesses, enabling it to turn around from the loss of Bt13.2bn in 2021 to a profit of Bt1,187mn in 2022E (consensus estimate).Meanwhile, risks regarding its business in Europe have been priced in to a certain degree.

Big Cap Tactical Picks (October 20, 2022)

Mint /

Big Cap Tactical Picks (October 20, 2022)