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 add SNC to our portfolio, as its earnings outlook seems to be brighter than previously expected.</li><li>The firm has revised up its revenue growth target from 10% to 30% after the 1H22 revenue grew by 54% YoY to Bt12bn.</li><li>There is upside risk to our 2022E earnings projection of Bt694mn (+9.12% YoY).</li></ul>

We add SNC to our portfolio, as its earnings outlook seems to be brighter than previously expected.The firm has revised up its revenue growth target from 10% to 30% after the 1H22 revenue grew by 54% YoY to Bt12bn.There is upside risk to our 2022E earnings projection of Bt694mn (+9.12% YoY).

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