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 Gloves Thailand  / Equity Bottom-Up

<ul><li>STGT reported a 4Q24 net profit that exceeded both our and the market's expectations, primarily due to Bt483mn in interest income refunds from long-term loans, supported by the Rubber Authority of Thailand.</li><li>Excluding this item, the 4Q24 profit margin was weaker than our estimate.</li><li>The soft profitability in 4Q24 is expected to gradually improve and has likely already been priced into the stock following the sharp decline earlier.</li></ul>

STGT reported a 4Q24 net profit that exceeded both our and the market's expectations, primarily due to Bt483mn in interest income refunds from long-term loans, supported by the Rubber Authority of Thailand.Excluding this item, the 4Q24 profit margin was weaker than our estimate.The soft profitability in 4Q24 is expected to gradually improve and has likely already been priced into the stock following the sharp decline earlier.

Sri Trang Gloves (Thailand) - Upbeat 4Q24 Profit Driven by Other Income Items