SGX-listed ThaiBev’s recovery on track with a surge of Chinese tourists

The beverage company is attractive as the tourism sector improved in 2023.

In the first four months of 2023, Chinese tourists flocked to Thailand, helping the market in its tourism recovery.

With this, it benefits the earnings of SGX-listed ThaiBev, which is affected by high raw material costs, UOB Kay Hian said in its report.

“Coupled with fully relaxed COVID-19 restrictions, Thailand’s tourism sector faces favourable tailwinds, benefitting consumer companies such as THBEV,” said the broker.

The broker maintains its buy rating with a lower SOTP-based target price of S$0.78 for ThaiBev.

Thai Beverage's revenue grew 13% due to its improvement in the beer, non-alcoholic drinks, and food segments.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!