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

<p><span style="font-size: var(--content-font-size);">We believe the slowdown in the recovery of the refinery and marketing business following the spread of the Delta variant has been largely priced into BCP’s share price. Meanwhile, the company’s diversified earnings along with the solid contribution from power will remain the cushion, particularly amid the peak season for the contribution from Nam San 3A and Nam San 3B in 3Q. We maintain a Buy (with the newly revised TP of Bt28), expecting the resumption of core earnings momentum upon the easing of the COVID-19 impact.</span></p>

We believe the slowdown in the recovery of the refinery and marketing business following the spread of the Delta variant has been largely priced into BCP’s share price. Meanwhile, the company’s diversified earnings along with the solid contribution from power will remain the cushion, particularly amid the peak season for the contribution from Nam San 3A and Nam San 3B in 3Q. We maintain a Buy (with the newly revised TP of Bt28), expecting the resumption of core earnings momentum upon the easing of the COVID-19 impact.

Company Update: Bangchak Corporation Plc. (BCP)