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 have a neutral view on the analyst meeting with BTS, as it was mostly in line with our expectations.</li><li>We maintain our Buy call with the SOTP-based TP of Bt13.00, not yet including the incremental value from U-Tapao Airport and the Orange Line.</li><li>BTS delivered a net profit of Bt8.2bn in FY19/20, including net extra items of Bt4.4bn.</li></ul>

We have a neutral view on the analyst meeting with BTS, as it was mostly in line with our expectations.We maintain our Buy call with the SOTP-based TP of Bt13.00, not yet including the incremental value from U-Tapao Airport and the Orange Line.BTS delivered a net profit of Bt8.2bn in FY19/20, including net extra items of Bt4.4bn.

BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF TB)

BTS Rail Mass Transit Growth Infrastructure Fund

BTS Group

Riding With New Opportunity