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>Due to the downward revision in profit estimates, we have updated the fair value to Bt14.68, based on the earnings yield method with a required return of 8.2%.</li>
<li>This calculation assumes an estimated beta of 1.33, a market risk premium (MRP) of 4.43%, and a Thai 10-year bond yield of 2.27%.</li>
<li>This reflects a target PER of 12.3x and compares to the previous fair value of Bt15.47, which was based on a required return of 9.3%.</li>
</ul>


Due to the downward revision in profit estimates, we have updated the fair value to Bt14.68, based on the earnings yield method with a required return of 8.2%.
This calculation assumes an estimated beta of 1.33, a market risk premium (MRP) of 4.43%, and a Thai 10-year bond yield of 2.27%.
This reflects a target PER of 12.3x and compares to the previous fair value of Bt15.47, which was based on a required return of 9.3%.


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