Vietnam’s largest brewer, Sabeco, will aim to grow its share of the home market from around 40% to 50% on the strength of new owner Thai Beverage‘s retail network, executives from the Thai company said Friday.
Saigon Beer Alcohol Beverage Corp. held its first corporate meeting here following the $4.8 billion acquisition by its Thai rival, known for Chang beer, in December. Executives at the Thai group addressed Sabeco employees for the first time as the majority shareholder.
ThaiBev is the flagship business of TCC Group, led by Charoen Sirivadhanabhakdi, the self-made billionaire widely regarded as Thailand’s king of mergers and acquisitions.
Koh Poh Tiong, chairman of board executive committee of Singapore-based Fraser and Neave, another beverage maker under TCC Group, told the gathering that Sabeco products will be delivered all across Vietnam, leveraging the Thai group’s existing retail network of supermarkets and convenience stores.
Koh also said the group’s backing will help Sabeco expand beyond beer into such markets as soft drinks and spirits.
He also stated his ambition to tap regional markets such as Thailand and Singapore on the back of the group’s hotel network.
At the meeting in Ho Chi Minh City, a source from Sabeco told the Nikkei Asian Review that the company will hold its annual general meeting within the next four months to appoint new board members.
As ThaiBev now has more than 53% ownership, TCC Group intends to raise its number of board members from four to around 10. New management will be decided.
Sabeco Chairman Vo Thanh Ha set out the brewer’s targets for 2018. The company aims to lift its domestic market share to 42% and boost output to 1.84 billion liters, up from 1.78 billion liters in 2017. It targets revenue of 39.3 trillion dong ($1.73 billion) and net profit of 4.9…
Thailand’s FDI applications up 69% in the first nine months of 2019
The total value of FDI applications received by the BOI in the nine months to September increased 69% from the year earlier period, to a total value of 203.37 billion baht, according to the latest data from the BOI
Thailand continued to attract rising foreign direct investment (FDI) in the first nine months of 2019, with increased number of investment project applications according to public agency Thailand Board of Investment (BOI).(more…)
Thai Labour minister calls meeting after U.S. GSP cut
The Minister of Labour has called an urgent meeting to address the labour concerns cited by the U.S. as a factor in the decision to revoke trade preferences.
BANGKOK (NNT) – The decision by the U.S. to suspend Generalized System of Preferences (GSP) treatment to Thailand, requiring all Thai exports to the U.S. to be subject to duties, has raised confusion among many sectors in Thailand.(more…)
Thailand edges up 6 spots in World Bank’s Ease of Doing Business 2020
While many economies in the East Asia and the Pacific region make doing business relatively easy, the pace of reforms has slowed from previous years.
Thailand among top five countries for salary hikes
Thailand is among the top five economies in the world to see real salary increases and is likely to see...
Thailand Ecommerce Market: Shooting For Success
At present, the Thai ecommerce market is valued at USD 3.5 billion. According to a Google Temasek study, Thailand’s e-commerce...
Aspire Set to Become First SME Neobank in Southeast Asia with US$32.5 Million Raise
The recent financing has been led by Mass-Mutual Ventures Southeast Asia with participation from Silicon Valley’s Arc Labs and existing...