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>We initiate our coverage on AMATA with an Outperform rating and a 12M FV of Bt28.00, based on a required return of 7.9% (reflecting a PER target of 12.6x).</li><li>Presales will remain high at 1.7k and 1.6k rai in the next one to two years as a positive outcome of geopolitical risks and increased US tariffs in 2024-26E, encouraging production base relocations toward ASEAN.</li><li>In addition, AMATA has a huge backlog worth Bt14bn, expected to equate to land sales of 2.4k rai. This should help boost transfers and core profit growth going forward.</li></ul>

We initiate our coverage on AMATA with an Outperform rating and a 12M FV of Bt28.00, based on a required return of 7.9% (reflecting a PER target of 12.6x).Presales will remain high at 1.7k and 1.6k rai in the next one to two years as a positive outcome of geopolitical risks and increased US tariffs in 2024-26E, encouraging production base relocations toward ASEAN.In addition, AMATA has a huge backlog worth Bt14bn, expected to equate to land sales of 2.4k rai. This should help boost transfers and core profit growth going forward.

Amata Corporation - High Presales and Backlog Lead to Consistent Growth in Core Profit

Amata Corp Public

Amata Corporation - High Presales and Backlog Lead to Consistent Growth in Core Profit