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

Thematic (Sector/Industry)

India Energy / Thematic (Sector/Industry)

<ul><li>We take a neutral view on the government’s “Quick Big Win” clean energy policy.</li><li>By contrast, we expect the 2.0GW Direct PPA program (beyond PDP), which is B2B, to be the main focus for producers.</li><li>We maintain a “Neutral rating on the power sector and keep our top picks: GULF (Buy; 26E FV Bt62.25), backed by a strong business portfolio, resilient earnings, and high growth potential (via debt leverage/M&amp;A), and BCPG (Buy; 26E FV Bt10.00), supported by solid medium- to long-term earnings from its US CCGT projects.</li></ul>

We take a neutral view on the government’s “Quick Big Win” clean energy policy.By contrast, we expect the 2.0GW Direct PPA program (beyond PDP), which is B2B, to be the main focus for producers.We maintain a “Neutral rating on the power sector and keep our top picks: GULF (Buy; 26E FV Bt62.25), backed by a strong business portfolio, resilient earnings, and high growth potential (via debt leverage/M&amp;A), and BCPG (Buy; 26E FV Bt10.00), supported by solid medium- to long-term earnings from its US CCGT projects.

Global Power Synergy Company Ltd (GPSC TB)

Energy (Power): Neutral View on Quick Big Win Clean Energy; Focus on Direct PPA Pending Clarity