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

<p>PSL’s earnings in 2Q21 were in line with our expectation thanks to the resumption of the TC rate, and we anticipate further improvement in 3Q21E. However, PSL’s share price has increased considerably, factoring in the positives to a certain degree. We thus maintain our Hold rating, with the unchanged 2021E TP of Bt22.50 (based on a PER of 16x, the historical average and in line with regional peers).</p>

PSL’s earnings in 2Q21 were in line with our expectation thanks to the resumption of the TC rate, and we anticipate further improvement in 3Q21E. However, PSL’s share price has increased considerably, factoring in the positives to a certain degree. We thus maintain our Hold rating, with the unchanged 2021E TP of Bt22.50 (based on a PER of 16x, the historical average and in line with regional peers).

Precious Shipping

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