ThaiBev sets up company in East Timor
Bangkok (dpa) - Thai Beverage Plc, owner of Chang beer, established a venture in East Timor, officials said Monday.
East Timor was a target for expansion because "it is expected to become a member of ASEAN in the near future," chief executive Thapana Sirivadhanabhakdi said.
The new venture with a registered capital of 10,000 dollars will be called Interbev Timor and distribute alchoholic beverages, fruit juice and drinking water.
The venture was registered to the company's Hong Kong-based holding entity InterBev Trading Ltd, according to company officials.
Thai Beverage PLC is Thailand's largest beverage company. Among its assets are Chang Beer, Mekhong Rum and Singapore-based Fraser and Neave Ltd.
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