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

Sri Trang Gloves Thailand  / Equity Bottom-Up

<ul><li>STGT reported a 3Q24 net loss (below the consensus expectations).</li><li>Although revenue expanded well, the downbeat profitability was primarily pressured by the rapid increases in raw rubber material costs and baht appreciation.</li><li>We are putting our forecasts, recommendation, and fair value under review from the current Outperform rating with a 2025E fair value of Bt14.69. </li></ul>

STGT reported a 3Q24 net loss (below the consensus expectations).Although revenue expanded well, the downbeat profitability was primarily pressured by the rapid increases in raw rubber material costs and baht appreciation.We are putting our forecasts, recommendation, and fair value under review from the current Outperform rating with a 2025E fair value of Bt14.69. 

Sri Trang Gloves - Downbeat 3Q24 Earnings; Loss Due to Cost Factors and Baht Appreciation