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

Thematic (Sector/Industry)

Global Power Synergy Company Ltd (GPSC TB)

<ul><li>The ERC has opened a public hearing on electricity tariffs for May–August, with scenario (3) (Bt3.95/unit) and a tariff freeze (Bt3.88/unit) seen as the most likely outcomes.</li><li>We highlight upside risks to gas costs in 2026E from Middle East tensions under two scenarios: (A) LNG at USD20/MMBTU in May–August, and (B) LNG at USD20/MMBTU through May–December.</li><li>We therefore maintain our preference for GULF (Outperform; FV Bt66.75), supported by its low-risk portfolio (94% sales to EGAT with fuel cost pass-through), diversified business mix, and strong growth potential underpinned by a low net D/E ratio.</li></ul>

The ERC has opened a public hearing on electricity tariffs for May–August, with scenario (3) (Bt3.95/unit) and a tariff freeze (Bt3.88/unit) seen as the most likely outcomes.We highlight upside risks to gas costs in 2026E from Middle East tensions under two scenarios: (A) LNG at USD20/MMBTU in May–August, and (B) LNG at USD20/MMBTU through May–December.We therefore maintain our preference for GULF (Outperform; FV Bt66.75), supported by its low-risk portfolio (94% sales to EGAT with fuel cost pass-through), diversified business mix, and strong growth potential underpinned by a low net D/E ratio.

エネルギー・電力：ガス価格高騰を受け、ERC（エネルギー規制委員会）が5月～8月期の3つの料金シナリオを提案