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 3Q23 net profit was reported at Bt389mn, 5% below our projection, as operating expenses exceeded the forecast by 3%.</li><li>The 9M23 net profit accounted for 73% of our 2023E full-year projection.</li><li>We maintain our Outperform rating and the fair value of Bt44.80, based on the earnings yield, with a required return of 4.24%.</li></ul>

The 3Q23 net profit was reported at Bt389mn, 5% below our projection, as operating expenses exceeded the forecast by 3%.The 9M23 net profit accounted for 73% of our 2023E full-year projection.We maintain our Outperform rating and the fair value of Bt44.80, based on the earnings yield, with a required return of 4.24%.

Mk Restaurant Group Plc. (M): The 3Q23 Net Profit Was Reported at Bt389mn, 5% Below Our Projection - Outperform (Fair Value: Bt44.80)

MK Restaurant Group

Mk Restaurant Group Plc. (M): The 3Q23 Net Profit Was Reported at Bt389mn, 5% Below Our Projection - Outperform (Fair Value: Bt44.80)