In 3Q, ThaiBev’s beer volumes contracted almost 20% due to Sabeco’s underperformance.
Saigon Beer-Alcohol-Beverage Corp (Sabeco), which is a subsidiary of Thai Beverage (ThaiBev), could continue to be a drag on the latter, according to Phillip Securities.
This comes as the regulatory ban on drink driving continues to curb beer consumption in Vietnam, the brokerage warns.
