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>We expect PSL's net loss in 3Q20E to decline significantly QoQ thanks mainly to the improvement in the TC rate.</li><li>PSL's share price is still being pressured by the weak BDI performance at current.</li><li>We thus maintain our Hold rating for PSL, with the P/BV-based TP of Bt5.10.</li></ul>

We expect PSL's net loss in 3Q20E to decline significantly QoQ thanks mainly to the improvement in the TC rate.PSL's share price is still being pressured by the weak BDI performance at current.We thus maintain our Hold rating for PSL, with the P/BV-based TP of Bt5.10.

PSL

Outlook Clouded by BDI Performance