Thaibev to woo investors in region
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Thai Beverage Plc, which is listed on the Singapore Stock Exchange (SGX), has completed revamping the board and management of drinks purveyor Fraser and Neave (F&N) and now plans to go on roadshows to neighbouring nations to raise its profile and acceptan
ThaiBev, founded by whisky tycoon Charoen Sirivadhanabhakdi, plans to go to countries regionally with the hope of cashing in on the advent of regional trading. The firm ranks as the 15th biggest stock on the SGX with market capitalisation of Bt300 billion.
The brewer of Chang beer has decided to promote itself at the Money Expo from May 9-12 at Muang Thong Thani by staffing booths to provide information on its business and performance.
Vichet Tantivanich, senior vice president, said the move would go along with the company’s market expansion after acquiring F&N at the end of last year. The Singaporean company runs food, beverage and property businesses.
ThaiBev’s 28.6-per-cent stake in the company is valued at over 3.3 billion Singaporean dollars (Bt78.7 billion). The purchase was worth over S$10 billion. The big shareholder from the purchase of 90.3 per cent last February is TCC Assets, owned by Charoen and his wife Khunying Wanna.
On February 28 nine Thais joined the executive committee – Charoen as chairman, Wanna, Pailin Chuchottaworn, Weerawong Chittmittrapap, Chotiphat Bijananda, Thapana Sirivadhanabhakdi, Panote Sirivadhanabhakdi, Prapakon Thongtheppairot and Sithichai Chaikriangkrai.
The Singapore side retains four members on the executive board – Charles Mak Ming Ying, Chan Heng Wing, Philip Eng Heng Nee and Koh Poh Tiong.
F&N’s post-acquisition strategic plan was not disclosed due to the SGX’s strict regulations.
