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>TTW's 3Q20 earnings beat our forecast thanks to the seasonal peak of CKP's performance.</li><li>We, however, keep our full-year earnings estimate unchanged on CKP's weak earnings in 4Q20E due to seasonality.</li><li>Our Buy rating is retained thanks to TTW's resilient tap water business and its stable cash flow, which will enable it to maintain a yield of 5%.</li></ul>

TTW's 3Q20 earnings beat our forecast thanks to the seasonal peak of CKP's performance.We, however, keep our full-year earnings estimate unchanged on CKP's weak earnings in 4Q20E due to seasonality.Our Buy rating is retained thanks to TTW's resilient tap water business and its stable cash flow, which will enable it to maintain a yield of 5%.

Upbeat 3Q20 Results on CKP's Fabulous Performance