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>The 2Q23 net profit marked at Bt459mn, 6% better than expected due to lower-than-expected tax expenses.</li><li>The firm announced a DPS of Bt0.60/share for 1H23, accounting for 70% of profit.</li><li>We maintain an Outperform rating, with a fair price of Bt53.25, based on the earnings yield and a required rate of return of 4.81%.</li></ul>

The 2Q23 net profit marked at Bt459mn, 6% better than expected due to lower-than-expected tax expenses.The firm announced a DPS of Bt0.60/share for 1H23, accounting for 70% of profit.We maintain an Outperform rating, with a fair price of Bt53.25, based on the earnings yield and a required rate of return of 4.81%.

Mk Restaurant Group Plc. (M): The 2Q23 Net Profit Marked at Bt459mn, 6% Better Than Expected Due to Lower-Than-Expected Tax Expenses – Outperform (Fair Value: Bt53.25)

MK Restaurant Group

Mk Restaurant Group Plc. (M): The 2Q23 Net Profit Marked at Bt459mn, 6% Better Than Expected Due to Lower-Than-Expected Tax Expenses – Outperform (Fair Value: Bt53.25)