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>Although the sector's earnings in 2Q20E (1QFY20/21E for VGI) are likely to be weak, we believe the worst has passed.</li><li>The improvement in the COVID-19 situation should act as a positive catalyst going forward.</li><li>We maintain our Hold rating for both PLANB (20E DCF-based TP of Bt5.85) and VGI (FY20/21E SOTP-based TP of Bt8.00).</li></ul>

Although the sector's earnings in 2Q20E (1QFY20/21E for VGI) are likely to be weak, we believe the worst has passed.The improvement in the COVID-19 situation should act as a positive catalyst going forward.We maintain our Hold rating for both PLANB (20E DCF-based TP of Bt5.85) and VGI (FY20/21E SOTP-based TP of Bt8.00).

Plan B Media

Forecast a Net Loss in 2Q20E