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>In our view, lower gas costs following the implementation of the single pool gas system should mitigate the risks regarding the government’s further intervention in electricity tariffs and the Ft. Meanwhile, we expect the potential reclaim of EGAT’s Ft subsidies to be the next price catalyst for SPP operators.</li><li>We maintain our Outperform rating and the 12M FV of Bt33.0.</li><li>Our valuation metrics suggest that the current share price is attractive, with strong long-term earnings growth prospects and neutral tactical risk</li></ul>

In our view, lower gas costs following the implementation of the single pool gas system should mitigate the risks regarding the government’s further intervention in electricity tariffs and the Ft. Meanwhile, we expect the potential reclaim of EGAT’s Ft subsidies to be the next price catalyst for SPP operators.We maintain our Outperform rating and the 12M FV of Bt33.0.Our valuation metrics suggest that the current share price is attractive, with strong long-term earnings growth prospects and neutral tactical risk

B.grimm Power -In-Line 4Q23 Earnings; Strong LT Earnings Outlook

B Grimm Power

B.grimm Power -In-Line 4Q23 Earnings; Strong LT Earnings Outlook