Thai Beverage Public Co's (ThaiBev)Y92 share price has lost around 15% this year.
The Bangkok Post has reported that Taopiphob Limkittrakorn, a beer-loving member of the Thai Parliament for the Move Forward Party is looking to break the kingdom's beer duopoly.
Move Forward which gained the most seats in Thailand's 2023 general election, and its coalition partners have agreed to "abolish monopolies and promote fair competition in all industries such as alcoholic beverages".
Boon Rawd Brewery with a 57.9% share of the beer market and ThaiBev with 34.3% control the beer sector in Thailand. In 1HFY2023, ThaiBev reported a 3.7% y-o-y rise in sales revenue to THB148.3 billion but attributable profit fell by 1.2% to BHT16.1 billion.
Limkittrakorn said he was aiming to remove barriers to help small domestic brewers to get at least 10% of the market share within the next 10 years.
