Connect with us

Business

ThaiBev-owned Saigon Beer targets 40% to 50% market share in Vietnam

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

Published

on

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…

Source link

Click to comment

Leave a Reply

Business

Large Shopping Malls in Bangkok Will Be Closed until July 25th

Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.

Published

on

BANGKOK (NNT) – Large-scale shopping malls in Bangkok and in some dark-red zone provinces are now closed for two weeks, to comply with the latest COVID-19 curbs in 10 provinces.

(more…)
Continue Reading

Business

Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak

The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.

Published

on

The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.

(more…)
Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,162 other subscribers

Wise

Recent