Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

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.

Equity Bottom-Up

Northeast Rubber Public Company Limited / Equity Bottom-Up

<div><div><div><ul><li>We maintainan Outperformrating. Our valuation matrix suggests upside to our current FV of Bt7.62/share, based on a required rate of return at 13.6%.</li><li>Meanwhile, the 24M FV remains on an uptrend (at Bt8.30) given the strong demand for rubber, driven by growth in the related downstream industries, i.e., tire, auto and EV. As for the tactical risks, our valuation matrix points to neutrality.</li><li>NER’s earnings yields look attractive at around 16.9% in 2023E and 19.9% in 2024E. </li></ul></div></div></div>

We maintainan Outperformrating. Our valuation matrix suggests upside to our current FV of Bt7.62/share, based on a required rate of return at 13.6%.Meanwhile, the 24M FV remains on an uptrend (at Bt8.30) given the strong demand for rubber, driven by growth in the related downstream industries, i.e., tire, auto and EV. As for the tactical risks, our valuation matrix points to neutrality.NER’s earnings yields look attractive at around 16.9% in 2023E and 19.9% in 2024E. 

North East Rubber - China’s Reopening to Boost Rubber Sales Growth

Thailand

Northeast Rubber Public Company Limited manufactures rubber products. The Company focuses on producing ribbed smoked sheets, soles, hoses, and rubber components. Northeast Rubber markets its products worldwide.

Northeast Rubber Public Company Limited (NER TB)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00