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.

Thematic (Sector/Industry)

<ul><li>We recommend investing in STGT (consensus TP: Bt14.03) as we anticipate the company will benefit from the opportunity to increase its market share in the US, replacing imports from China after the US raises tariffs on rubber gloves from 7.5% to 25.0% in 2026.</li><li>Although Thailand may see gains in other sectors, such as solar cells, semiconductor products, and steel pipes, the impact on related SET-listed companies may be minimal.</li><li>In early August 2024, the US implemented a new round of tariffs on China, increasing import duties on 14 additional products, including semiconductor products, medical devices and equipment, as well as clean energy-related items such as electric vehicles, lithium-ion batteries, and solar panels. These tariffs will remain in effect until 2026.</li></ul>

We recommend investing in STGT (consensus TP: Bt14.03) as we anticipate the company will benefit from the opportunity to increase its market share in the US, replacing imports from China after the US raises tariffs on rubber gloves from 7.5% to 25.0% in 2026.Although Thailand may see gains in other sectors, such as solar cells, semiconductor products, and steel pipes, the impact on related SET-listed companies may be minimal.In early August 2024, the US implemented a new round of tariffs on China, increasing import duties on 14 additional products, including semiconductor products, medical devices and equipment, as well as clean energy-related items such as electric vehicles, lithium-ion batteries, and solar panels. These tariffs will remain in effect until 2026.

Rubber Gloves to Benefit from US Hiking Import Tariffs on China

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

<ul>
<li>We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Seven stocks remain, seven new join the fray</li>
<li>Ince inception, it has gained 112% versus the SET 100 Index’s return of 24%</li>
</ul>


We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
Portfolio changes: Seven stocks remain, seven new join the fray
Ince inception, it has gained 112% versus the SET 100 Index’s return of 24%


The Stocks to Own in Thailand – Vol. 46

<ul>
<li>We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Six stocks remain, eight new join the fray</li>
<li>Since inception, it has gained 121% versus the SET 100 Index’s return of 20%</li>
</ul>


We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
Portfolio changes: Six stocks remain, eight new join the fray
Since inception, it has gained 121% versus the SET 100 Index’s return of 20%


The Stocks to Own in Thailand – Vol. 45

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

Sri Trang Gloves Thailand  / Equity Bottom-Up

5 in 5 with Sri Trang Gloves Thailand - Touch Of Life

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>As continued strong market competition and excess capacities from major players have capped upward trajectory for ASP, key global glove manufacturers have revised their capex plans lower.</li>
<li>To reflect the current industry climate, Sri Trang expects to reach an annual production capacity of 56.6 billion pieces in 2024 from 81.9 billion pieces earlier.</li>
<li>The company aims to launch surgical gloves, which command a high margin, in the domestic market in Q4 2022.</li>
</ul>


As continued strong market competition and excess capacities from major players have capped upward trajectory for ASP, key global glove manufacturers have revised their capex plans lower.
To reflect the current industry climate, Sri Trang expects to reach an annual production capacity of 56.6 billion pieces in 2024 from 81.9 billion pieces earlier.
The company aims to launch surgical gloves, which command a high margin, in the domestic market in Q4 2022.


Sri Trang Gloves (STGT TB): Revised Capacity Expansion Plan to Arrest Downfall in ASP

Thailand

Sri Trang Gloves (Thailand) Public Company Limited manufactures rubber products. The Company offers janitorial items such as hand gloves. Sri Trang Gloves Thailand serves customers in Thailand.

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

Sri Trang Gloves Thailand (STGT TB)

Rubber Gloves to Benefit from US Hiking Import Tariffs on China

We recommend investing in STGT (consensus TP: Bt14.03) as we anticipate the company will benefit from the opportunity to increase its market share...

Krungthai XSpring

The Stocks to Own in Thailand – Vol. 46

We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology. Portfolio changes: Seven stocks remain, seven new...

A. Stotz Investment Research

The Stocks to Own in Thailand – Vol. 45

We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology. Portfolio changes: Six stocks remain, eight new join...

A. Stotz Investment Research

5 in 5 with Sri Trang Gloves Thailand - Touch Of Life

5 in 5 with Sri Trang Gloves Thailand - Touch Of Life

Singapore Exchange Ltd (SGX)

Sri Trang Gloves (STGT TB): Revised Capacity Expansion Plan to Arrest Downfall in ASP

Sri Trang has revised annual production capacity target to 56.6B pieces in 2024 from 81.9B pieces earlier. Glove ASP seems to be bottoming out,...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)