Thailand: Thai Beverage stocks stay flat, experts forecast new investments/acquisitions worth US$800 million
Thai Beverage stock remained flat at SGD28.5, off intraday high of 29 cents, Dow Jones Newswires released October 16.
Singapore stock exchange analysts believe Thai Beverage "stands as one of the cheapest alcoholic beverage plays in Asia...which is an anomaly, in our view, given the company's dominant position, decent growth prospects and strong pricing power for its spirits portfolio." Traders also expect Thai Beverage "to make some major asset acquisitions in the region over the next 12 to 18 months." They estimate the company will spend US$800 million on new investments/acquisitions over next 3 years, without raising gearing level. Stock remains one of most active on SGX with over 25 million shares traded.
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