In a Friday report, analyst Juliana Cai says, “We believe this move is positive to the group in the long run as Thaibev will have greater control of the business, allowing it to reduce Sabeco’s cost structure and increase efficiencies. This, however, slightly dampens near-term earnings, due to the absence of interest charged to Vietnam Bev after the loan restructuring.”
SINGAPORE (Jan 18): RHB is reiterating its “buy” call on Thai Beverage (ThaiBev) with a higher target price of 85 cents, from 75 cents previously.
This came following the group’s loan restructuring with Vietnam Beverage, which means ThaiBev now owns 53% of Sabeco, the largest brewery in Vietnam.
