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

Bangkok Dusit Medical Services / Equity Bottom-Up

<ul><li>Concern over the COVID-19 outbreak causes us to revise down the profit forecasts.</li><li>We expect revenue growth to be slower in the next 3-4 months, reducing BDMS's revenue in 2020E by 2-3% from the previous forecast.</li><li>We revise down the revenue forecasts by 3% in 2020-2021E to reflect the impact from COVID-19.</li></ul>

Concern over the COVID-19 outbreak causes us to revise down the profit forecasts.We expect revenue growth to be slower in the next 3-4 months, reducing BDMS's revenue in 2020E by 2-3% from the previous forecast.We revise down the revenue forecasts by 3% in 2020-2021E to reflect the impact from COVID-19.

COVID-19 Outbreak to Affect 1H20E Earnings