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 again raise PSL's earnings in 2021-22E to factor in the upward revision to the firm's TC rate owing to the brightening prospects of the BDI, which will enter the high season in 4Q.</li><li>We expect PSL to report a net profit of Bt836mn in 2Q21E, including FX gain of Bt100mn.</li><li>The BDI closed at 3,103 points yesterday, down from closing at 3,383 points at the end of June, likely repeating the historical seasonal pattern.</li></ul>

We again raise PSL's earnings in 2021-22E to factor in the upward revision to the firm's TC rate owing to the brightening prospects of the BDI, which will enter the high season in 4Q.We expect PSL to report a net profit of Bt836mn in 2Q21E, including FX gain of Bt100mn.The BDI closed at 3,103 points yesterday, down from closing at 3,383 points at the end of June, likely repeating the historical seasonal pattern.

PSL

Precious Shipping Plc. (PSL)