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

Acquisition of Intan Group completed as planned We have a positive view on the acquisition of Intan to expand to the food and beverage packaging business in Indonesia. The acquisition is part of SCGP’s plan to spend the proceeds from the IPO to enhance internal integration as well as its strategy to continue increasing sales and margins. Its earnings are expected to achieve a two-year CAGR of 31% thanks to capacity expansion and acquisitions to support growth in the client base of big producers of large consumer goods. We maintain a Buy and the target price of Bt69.50 (DCF, WACC 6.9%, LT growth 2%).

Acquisition of Intan Group completed as planned We have a positive view on the acquisition of Intan to expand to the food and beverage packaging business in Indonesia. The acquisition is part of SCGP’s plan to spend the proceeds from the IPO to enhance internal integration as well as its strategy to continue increasing sales and margins. Its earnings are expected to achieve a two-year CAGR of 31% thanks to capacity expansion and acquisitions to support growth in the client base of big producers of large consumer goods. We maintain a Buy and the target price of Bt69.50 (DCF, WACC 6.9%, LT growth 2%).

SCG Packaging

Company Update Scg Packaging Plc. (SCGP)