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

Somboon Advance Technology P / Equity Bottom-Up

<ul><li>We maintain a Neutral rating as the share price is fully valued in terms of the fundamentals, alongside very limited upside from the tactical view.</li><li>However, SAT is attractive as a dividend play, with an estimated yield of 6.6% for the 2H23 operating performance.</li><li>SAT posted a 4Q23 net profit of Bt218mn, 7.3% lower than our projection, mainly because sales fell short of our estimate by 10.2%.</li></ul>

We maintain a Neutral rating as the share price is fully valued in terms of the fundamentals, alongside very limited upside from the tactical view.However, SAT is attractive as a dividend play, with an estimated yield of 6.6% for the 2H23 operating performance.SAT posted a 4Q23 net profit of Bt218mn, 7.3% lower than our projection, mainly because sales fell short of our estimate by 10.2%.

Somboon Advance Technology - Weaker 4Q23 Results Both YoY and QoQ; a Dividend Play