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)

Global Power Synergy Company Ltd (GPSC TB)

<ul><li>We expect declining gas costs to increase the opportunity for EGAT to reclaim the outstanding Ft burden and pose upside risk to IU margins in 2025E.</li><li>In addition, the growing demand for green power will support the growth of renewable energy (RE), both domestically (RE 2, direct PPA, and the next phase of RE biddings) and internationally.</li><li>We maintain our earnings estimates for 2024-26E and the fair values (FV) of the power producers under our coverage. </li></ul>

We expect declining gas costs to increase the opportunity for EGAT to reclaim the outstanding Ft burden and pose upside risk to IU margins in 2025E.In addition, the growing demand for green power will support the growth of renewable energy (RE), both domestically (RE 2, direct PPA, and the next phase of RE biddings) and internationally.We maintain our earnings estimates for 2024-26E and the fair values (FV) of the power producers under our coverage. 

Industry Update - Energy Sector (Power) - November 27, 2024