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

<div><div><div><div><ul><li>We upgrade our rating to Buy (from Outperform), as the long- term growth in our valuation matrix has been lifted to “strong,” more bullish than the “positive” outlook presented in the previous report.</li><li>We have changed the valuation method to the earnings yield instead of PBV. This results in a new fair value of Bt2.31, close to the previous value, based on the 12M EPS estimate, discounted by the required rate of return of 12.6%. SIRI’s earnings are the key factor driving the fair value (see page 2 for further details).</li><li>The high interim dividend yield of 5.3% (DPS: Bt0.1) will serve as the near-term share price catalyst. </li></ul></div></div></div></div>

We upgrade our rating to Buy (from Outperform), as the long- term growth in our valuation matrix has been lifted to “strong,” more bullish than the “positive” outlook presented in the previous report.We have changed the valuation method to the earnings yield instead of PBV. This results in a new fair value of Bt2.31, close to the previous value, based on the 12M EPS estimate, discounted by the required rate of return of 12.6%. SIRI’s earnings are the key factor driving the fair value (see page 2 for further details).The high interim dividend yield of 5.3% (DPS: Bt0.1) will serve as the near-term share price catalyst. 

SANSIRI Plc. - Maintaining Growth Momentum in 2H23E

Sansiri Public

SANSIRI Plc. - Maintaining Growth Momentum in 2H23E