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>BBIK offers the strongest growth potential in the technology sector, underpinned by its Digital Excellence and Delivery (Dx) business with one of the largest developer bases in Thailand and a solid outlook.</li><li>Net profit in 2025E is projected to rise 16% YoY to Bt349mn, the highest in the sector, despite a flat industry backdrop.</li><li>We initiate coverage with a Buy rating and a fair value of Bt27, based on a 7% required return, implying a 2026E P/E of 14x (–1.5SD) and a 3-year PEG of 1.11x.</li></ul>

BBIK offers the strongest growth potential in the technology sector, underpinned by its Digital Excellence and Delivery (Dx) business with one of the largest developer bases in Thailand and a solid outlook.Net profit in 2025E is projected to rise 16% YoY to Bt349mn, the highest in the sector, despite a flat industry backdrop.We initiate coverage with a Buy rating and a fair value of Bt27, based on a 7% required return, implying a 2026E P/E of 14x (–1.5SD) and a 3-year PEG of 1.11x.

BLUEBIK GROUP Plc. (BBIK): Top Performer In The Sector

Bluebik Group PCL

BLUEBIK GROUP Plc. (BBIK): Top Performer In The Sector