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An interesting update from the company, on the recent new rules.
- Primary listed companies in SGX should hold its AGM in Singapore
- If not, video conference should be provided.
The company has been approved by SGX to exempt from the rules, because it is not allowed by Thai law and the company's Article of Association.
May be China companies will apply for the same, with the same excuses?
Ref:
http://infopub.sgx.com/FileOpen/TB_Rule7...eID=275514
(not vested)
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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look like choaren has some friends in SGX...
SGX bending so any rules recently.
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21-02-2014, 07:05 PM
(This post was last modified: 21-02-2014, 07:06 PM by cyclone.)
There will be a conference call for FY 2013 financial results :
Date: Thursday, 27 February 2014
Time: 1900 hrs (Singapore time)
Place: Online via the ThaiBev Investor Relations website
( www.thaibev.com/ir.html )
Specuvestor: Asset - Business - Structure.
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Looking at the latest B/S for ThaiBev, it has expectedly used the cap reduction monies from FNN to repay its debt - reducing its gearing from 120% to 60+%, which is still much higher than its trailing 5y gearing average of 20-30% before the acquisition.
The asset stripping exercise from FNN+FCL looks still very much intact.
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Another company whose CEO is the descendent of the founder. The company business looks strong but this Chinese man father and son way of successor planning always bother me.
Has this CEO already proven himself with his capabilities or he is just another spoilt kid born with silver spoon who always go back to his father?
Or it shouldn't be the determining factor for decision whether to invest into the company?
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ThaiBev confident of success amid Thai turmoil
CEO Thapana also sees room for cooperation with Thai-controlled F&N
Published on May 22, 2014 1:21 AM
By Jonathan Kwok
THE political crisis in Thailand has many investors worried but Singapore-listed Thai Beverage Public Company believes it can weather the storm.
"We are well positioned, we have a wide range of products that can (do well) during the good times and the bad times," said president and chief executive Thapana Sirivadhanabhakdi.
ThaiBev has dealt with turmoil in the market before, he told a briefing yesterday, referring to domestic unrest in the last five to six years.
"People were on the street, they demonstrate, it's something that we've been adapting to so far. We are confident that we will be able to deliver a similar performance that we have demonstrated," he said.
The current political drama has dragged on for seven months with the latest twist being the declaration of martial law this week.
Yet during this time, ThaiBev posted a 73 per cent leap in this year's first-quarter net profit on higher revenue and stronger margins.
The food and beverage group's net profit for the three months ended March 31 was 5.97 billion baht (S$230 million), up from 3.45 billion baht a year ago. Revenue rose 5 per cent to 41 billion baht, mostly from an increase in sales of spirits.
Several analysts raised their target prices on the company after this set of results.
ThaiBev is behind Thailand's popular Chang Beer but also has businesses in spirits, non-alcoholic drinks and food.
ThaiBev, listed here in 2006, grabbed the attention of investors in 2012 when it was involved in the tussle for conglomerate Fraser & Neave (F&N) and beermaker Asia Pacific Breweries (APB).
ThaiBev and TCC Assets, both controlled by Mr Thapana's father Charoen Sirivadhanabhakdi, at that time bought stakes in F&N and APB.
APB now belongs to Dutch brewer Heineken but Mr Charoen controls F&N, with ThaiBev holding a part of his F&N stake.
His family controls a number of other assets, including the InterContinental Singapore hotel in Middle Road, where yesterday's briefing was held.
Mr Thapana, also a director of F&N, sees room for cooperation between ThaiBev and F&N and referred to them as "strategic partners".
The beverage market share for both companies in South-east Asia is 15 per cent and he sees opportunities for regional growth, especially with the Asean Economic Community project, which aims to achieve regional economic integration by next year.
Both companies are doing a strategic review and charting their future, and expect to conclude the exercise by the next quarter.
"ThaiBev together with F&N, we have the aspiration of becoming a large Asean player, becoming the regional powerhouse for beverages, focusing on the non-alcoholic beverages in particular," said Mr Thapana.
"That is why we are working with F&N. F&N already has access to the markets in Malaysia and Singapore. Of course they are working on how to develop in new markets, that's something that we are working together on."
F&N has begun selling ThaiBev's Oishi Green Tea in Malaysia but Mr Thapana said it is still too early to say how well the brand is doing there.
ThaiBev is looking to start distributing F&N products like the 100Plus sports drink in Thailand, from the second quarter of next year. "It's an exciting time for us," said Mr Thapana.
jonkwok@sph.com.sg
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Haven really read into thaibev, jus curious how come all the wooha n rioting in thailand doesnt affect the stock price ar?
Any affects on the biz fundamental?
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Hi Jian Jian
I notice that thaibev is very resilient too.. Been trying to q to buy below $.60 but never get. Always close at $.60 or $.605.... Haha
Any bro here can advise can buy more at this level for long term?
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