THAI BEVERAGE PUBLIC CO LTD
Y92.SI
Thai Beverage: - Impacted by broader concerns over Thai King's health condition
- The latest statement that was released on the health condition of Thailand's King Bhumibol Adulyadej revealed that the king's health has 'not stabilised'.
- Amid such fears, the Stock Exchange of Thailand (SET) Index continued its decline and fell 2.5% yesterday while Thai Beverage's share price was down 5.7% to S$0.91.
- Near term sentiment may remain hit by the uncertainties around potential repercussions for Thailand.
- Nonetheless, we believe the long term fundamentals of Thai Beverage remains strong.
- During times of political turmoil, we recall that its Spirits segment was still able to show resilience in earnings, while we believe the Beer segment would remain a key growth driver for the group ahead.
- We have a HOLD rating and S$1.01 fair value estimate; while we advocate longer term investors to consider accumulating at current price levels.
Jodie Foo CFA
OCBC Investment
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http://www.ocbcresearch.com/
2016-10-13
OCBC Investment
SGX Stock
Analyst Report
1.01
Same
1.010
