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)

Thailand Energy / Thematic (Sector/Industry)

<ul><li>The Oil Fund will be used as the mechanism to cap the diesel price after the Bt5/liter excise tax reduction scheme expires on July 20, 2023, which is not a surprise to the market.</li><li>The financial position of the Oil Fund is at a manageable level.</li><li>The marketing margin being left untouched eases concern and is likely to create positive sentiment for oil retailers, especially PTG, whose exposure to diesel volume sold through oil service stations is higher than peers at 77% (vs. 45-57% for peers). </li></ul>

The Oil Fund will be used as the mechanism to cap the diesel price after the Bt5/liter excise tax reduction scheme expires on July 20, 2023, which is not a surprise to the market.The financial position of the Oil Fund is at a manageable level.The marketing margin being left untouched eases concern and is likely to create positive sentiment for oil retailers, especially PTG, whose exposure to diesel volume sold through oil service stations is higher than peers at 77% (vs. 45-57% for peers). 

Industry Update – Energy (Oil Retailers)