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>INTUCH's 2Q20 core earnings retreated YoY on the weaker performance of both ADVANC and THCOM, but we expect its 2H2OE earnings to accelerate on the recovery of economic activities following the easing of the lockdowns.</li><li>Its solid performance and attractive yield have caused its share price to outperform peers YTD and narrowed its holding discount to the L-T average of 20%.</li><li>The ample upside to the fair value, however, prompts us to maintain a Buy call.</li></ul>

INTUCH's 2Q20 core earnings retreated YoY on the weaker performance of both ADVANC and THCOM, but we expect its 2H2OE earnings to accelerate on the recovery of economic activities following the easing of the lockdowns.Its solid performance and attractive yield have caused its share price to outperform peers YTD and narrowed its holding discount to the L-T average of 20%.The ample upside to the fair value, however, prompts us to maintain a Buy call.

Intouch Holdings

COVID-19 Behind Weak 2Q20 Core Earnings