Brokers' Take

Thai Beverage | Buy Target price: S$1.01 Feb 2 price: S$0.855 OCBC Investment Research,Feb 2

THAI Beverage announced the appointment of a senior vice-president, Nongnuch Buranasetkul, to oversee the group's food segment, and an executive vice-president, Michael Chye, for the group's brand investment management.

In a Sept 16 announcement, Thai Bev had announced a new organisational structure, as well as a new Brand Investment Management Group to ensure the long term success of their brand portfolio across the three core product groups - spirits, beer and non-alcoholic beverages. As the group works towards their Vision 2020 goals, which include fostering a diversified revenue base, we continue to like their long-term growth story.