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>PSL reported a small core loss in 3Q20, in line with our expectation.</li><li>Its earnings in 4Q20E and 1Q21E are likely to remain in the red thanks to the weakening of the BDI at current and the low season in 1Q21E.</li><li>We thus maintain our Hold rating for PSL, with the P/BV-based 2021E TP of Bt5.10, pegged at P/BV of 0.7x, -1 S.D. below the historical standard.</li></ul>

PSL reported a small core loss in 3Q20, in line with our expectation.Its earnings in 4Q20E and 1Q21E are likely to remain in the red thanks to the weakening of the BDI at current and the low season in 1Q21E.We thus maintain our Hold rating for PSL, with the P/BV-based 2021E TP of Bt5.10, pegged at P/BV of 0.7x, -1 S.D. below the historical standard.

Earnings Review Precious Shipping Plc. (PSL) | Transport & Logistics