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>M reported a net loss of Bt247mn in 2Q20, ahead of our forecast of -Bt453mn and the market estimate of -Bt395mn due to a better-than-expected margin.</li><li>As of the end of 2Q20, the firm saw a net cash position, with cash and short-term investments at Bt7.7bn or Bt8.31/share.</li><li>Earnings are expected to have bottomed out in 2Q20 and a turnaround is anticipated in 2H20E thanks to the likely HoH recovery in SSSG.</li></ul>

M reported a net loss of Bt247mn in 2Q20, ahead of our forecast of -Bt453mn and the market estimate of -Bt395mn due to a better-than-expected margin.As of the end of 2Q20, the firm saw a net cash position, with cash and short-term investments at Bt7.7bn or Bt8.31/share.Earnings are expected to have bottomed out in 2Q20 and a turnaround is anticipated in 2H20E thanks to the likely HoH recovery in SSSG.

MK Restaurant Group

Net Loss in 2Q20; Better 2H20E Outlook