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 4Q23 and 2023 core earnings were in the red due to a narrower margin, along with higher interest expenses and operating expenses.</li><li>Looking forward, the earnings recovery may remain slow.</li><li>KTX maintains our Neutral rating, with a fair value of Bt18.62, based on the earnings yield and a required return of 3.61%. </li></ul>

The 4Q23 and 2023 core earnings were in the red due to a narrower margin, along with higher interest expenses and operating expenses.Looking forward, the earnings recovery may remain slow.KTX maintains our Neutral rating, with a fair value of Bt18.62, based on the earnings yield and a required return of 3.61%. 

Charoen Pokphand Foods - 4Q23 and 2023 Core Losses Due to Lower Margin

CP FOODS

Charoen Pokphand Foods - 4Q23 and 2023 Core Losses Due to Lower Margin