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>The 4Q23 and 2023 earnings were in line with our expectation.</li><li>KTX has maintained our positive view on the 2024E core profit, which is expected to grow 30% thanks to the absence of loss contributions from RL.</li><li>TU’s long-term growth prospects are strong, with two-year growth expected at a 16% CAGR. Meanwhile, the tactical view is neutral. </li></ul>

The 4Q23 and 2023 earnings were in line with our expectation.KTX has maintained our positive view on the 2024E core profit, which is expected to grow 30% thanks to the absence of loss contributions from RL.TU’s long-term growth prospects are strong, with two-year growth expected at a 16% CAGR. Meanwhile, the tactical view is neutral. 

Thai Union Group -Net Loss in 2023 Due to Impairment Loss from Investment in RL