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)

<ul><li>The domestic auto market has sustained its decline, primarily driven by a sharp contraction in the pickup truck segment owing to stringent lending procedures at financial institutions.</li><li>Consequently, auto production in January 2024 witnessed a YoY decrease of 12.5%. We anticipate that as economic conditions recover, particularly with the acceleration of government expenditures, domestic demand will gradually rebound.</li><li>However, we maintain our Neutral rating on the auto sector as the earnings growth prospects have remained moderate. </li></ul>

The domestic auto market has sustained its decline, primarily driven by a sharp contraction in the pickup truck segment owing to stringent lending procedures at financial institutions.Consequently, auto production in January 2024 witnessed a YoY decrease of 12.5%. We anticipate that as economic conditions recover, particularly with the acceleration of government expenditures, domestic demand will gradually rebound.However, we maintain our Neutral rating on the auto sector as the earnings growth prospects have remained moderate. 

Automotive - A Weak Start in 2024