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

Sri Trang Agro Industry / Equity Bottom-Up

<ul><li>STA reported another net loss in 3Q25, pressured by a sharp drop in STR sales amid tax uncertainty.</li><li>Our estimates, rating, and FV are under review.</li><li>We preliminarily expect 4Q25E performance to recover QoQ, driven by a potential rebound in STR demand from restocking ahead of 2026 tire production.</li></ul>

STA reported another net loss in 3Q25, pressured by a sharp drop in STR sales amid tax uncertainty.Our estimates, rating, and FV are under review.We preliminarily expect 4Q25E performance to recover QoQ, driven by a potential rebound in STR demand from restocking ahead of 2026 tire production.

SRI TRANG AGRO-INDUSTRY Plc. (STA): 3Q25 Loss Extended On Weaker Margins