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>KTX maintains a “Neutral” rating with a 12M FWD fair value of Bt7.10, based on a 4.0% required return and implying a target PER of 24.8x.</li><li>PSL reported a 2Q25 net profit of Bt252mn.</li><li>Core profit fell 10% from Bt294mn in 3Q24 but rebounded sharply from Bt19mn in 2Q25.</li></ul>

KTX maintains a “Neutral” rating with a 12M FWD fair value of Bt7.10, based on a 4.0% required return and implying a target PER of 24.8x.PSL reported a 2Q25 net profit of Bt252mn.Core profit fell 10% from Bt294mn in 3Q24 but rebounded sharply from Bt19mn in 2Q25.

Precious Shipping Plc. (PSL): Downbeat 3Q25 Profit But Solid Showing