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>The 2Q24 earnings were in line with the expectation.</li><li>The company’s share price has already priced in the negatives, including the weaker market GRM and core earnings in 2Q24, as well as the upcoming implementation of the new Petroleum Act later this year.</li><li>This could pose risk to downstream operators if oil prices are regulated rather than liberalized as they are currently.</li></ul>

The 2Q24 earnings were in line with the expectation.The company’s share price has already priced in the negatives, including the weaker market GRM and core earnings in 2Q24, as well as the upcoming implementation of the new Petroleum Act later this year.This could pose risk to downstream operators if oil prices are regulated rather than liberalized as they are currently.

Bangchak Corporation - In-Line 2Q24 NP; Weak Core Earnings, Offset by Extra Gains