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 still like RBF's business, with its wide variety of consumer products in the demand-supply chain and solid profitability.</li><li>The firm's earnings are expected to have bottomed out in 2Q20 and recover in 3Q20E.</li><li>However, the current share price implies high 2020-21E PER of 38x and 34x vs. two-year core profit growth of 20%.</li></ul>

We still like RBF's business, with its wide variety of consumer products in the demand-supply chain and solid profitability.The firm's earnings are expected to have bottomed out in 2Q20 and recover in 3Q20E.However, the current share price implies high 2020-21E PER of 38x and 34x vs. two-year core profit growth of 20%.

Earnings Review: R&B Food Supply Plc. (RBF) in Food & Beverage