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

Event-Driven

PTT Oil and Retail Business / Event-Driven

<ul><li>Modulus Venture Co., Ltd. (“Modulus,” a wholly owned subsidiary of OR) has acquired a 55.41% stake in Thai Pipeline Network Co., Ltd. (“TPN”), which operates an oil pipeline system from Saraburi to the Northeast, from Big Gas Technology Co., Ltd. for a total value of up to Bt2.2bn (with EGCO holding the remaining 44.59%).</li><li>We view the investment in TPN as a strategic asset that enhances the longterm competitiveness of OR’s mobility business, particularly in the Northeast, which accounts for ~30% of its total oil sales volume (with ~40% market share and ~649 service stations, or ~27% of its nationwide network).</li><li>We expect TPN to have limited contribution to OR’s earnings in the short to medium term, as it remains loss-making.</li></ul>

Modulus Venture Co., Ltd. (“Modulus,” a wholly owned subsidiary of OR) has acquired a 55.41% stake in Thai Pipeline Network Co., Ltd. (“TPN”), which operates an oil pipeline system from Saraburi to the Northeast, from Big Gas Technology Co., Ltd. for a total value of up to Bt2.2bn (with EGCO holding the remaining 44.59%).We view the investment in TPN as a strategic asset that enhances the longterm competitiveness of OR’s mobility business, particularly in the Northeast, which accounts for ~30% of its total oil sales volume (with ~40% market share and ~649 service stations, or ~27% of its nationwide network).We expect TPN to have limited contribution to OR’s earnings in the short to medium term, as it remains loss-making.

PTT Oil And Retail Business Plc (OR): Acquiring A 55.41% Stake In Thai Pipeline Network...