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 maintain our Hold rating for AOT and roll over the target price to FY21E (end-September) at Bt65 (vs. FY20E at Bt60).</li><li>AOT believes domestic passenger volume is likely to recover by at least 20-30% by the end of this year thanks to the containment of COVID-19.</li><li>AOT has revised up the cost reduction target in FY20E to 30% (vs. 20% previously), including the savings related to state property rental expenses.</li></ul>

We maintain our Hold rating for AOT and roll over the target price to FY21E (end-September) at Bt65 (vs. FY20E at Bt60).AOT believes domestic passenger volume is likely to recover by at least 20-30% by the end of this year thanks to the containment of COVID-19.AOT has revised up the cost reduction target in FY20E to 30% (vs. 20% previously), including the savings related to state property rental expenses.

Airports of Thailand

Conference with US Investors