The brokerage believes that lower earnings before interest, tax, depreciation and amortisation (Ebitda) recorded by Fraser and Neave (F&N) and Frasers Property in the same period may indicate lower earnings registered by both associate companies.
Following Thai Beverage’s (ThaiBev) 9M FY20 business update, most analysts are positive on the company despite the impact from the restrictions to curb the spread of the novel coronavirus (Covid-19).
CGS-CIMB Research, however, is not one of them.
