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

Northeast Rubber Public Company Limited / Equity Bottom-Up

Northeast Rubber Public Company Limited (NER TB)

<ul><li>We expect flat 2Q24E net profit YoY and QoQ and stronger earnings momentum in 2H24E HoH.</li><li>Our positive view on the outlook for rubber prices and an earnings recovery in 2024E is retained.</li><li>We project an increase in rubber sales volume aligned with STR production capacity expansion, which would bolster the 2025-26E earnings growth (maintaining 2Y EPS growth at a 10% CAGR). </li></ul>

We expect flat 2Q24E net profit YoY and QoQ and stronger earnings momentum in 2H24E HoH.Our positive view on the outlook for rubber prices and an earnings recovery in 2024E is retained.We project an increase in rubber sales volume aligned with STR production capacity expansion, which would bolster the 2025-26E earnings growth (maintaining 2Y EPS growth at a 10% CAGR). 

North East Rubber - Expect Stable 2Q24E NP; Stronger Earnings Momentum in 2H24E