Hi Paul, how has the new drink driving rules affected Sabeco’s short term and long term prospects since its implementation? Does it make Thai Bev less attractive? Thanks.
Hi Tom, the drink driving law was implemented in January 2020, called Decree 100. Even those riding bicycles were apparently fined. Volume dropped around 20%, but unclear home much due to COVID-19 restrictions. It will take time for volumes to recover. On impact to Thai Beverage, it is negative but spirits (rum) sales is more important because it accounts for 80-90% of profits. Thailand is affected more by resurgence of the pandemic but spirits is shelter somewhat due to consumption mainly by farmers and at home. Lockdown wont hurt them directly. Thank you
Thanks for your reply, Paul!
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Chua Wei Ren
Head of Research
Tan Jie Hui
REITs & Properties
Senior Research Analyst
Consumer | Conglomerates & Industrials
About :Wei Ren specialises in Technical Analysis and has 11 years of experience in studying classic technical price action. He also study and research extensively on Elliott wave theory, Dow Theory. He believes that history plays an important role in how the market is reflected in the future.
About :Natalie covers the REITs and Property sector. Previously a business analyst with a management consultancy, she handled feasibility studies and business optimisation and restructuring projects. She has worked with companies from varied industries including logistics, FinTech, EduTech, gaming, F&B and retail. She graduated with a Bachelor of Science (Honours) in Banking & Finance from the University of London.
About :Paul has 20 years of experience as a fund manager and sell-side analyst. During his time as fund manager, he has managed multiple funds and mandates including capital guaranteed, dividend income, renewable energy, single country and regionally focused funds.
About :Jiehui covers the REITs and Property sector. Previously at a sell-side research firm, Jiehui was exposed to news flow and insights from various industries and assisted the property and consumer analysts with their coverage.
About :Terence specialises in the consumer, conglomerate and industrials sector. He has over five years of experience as an analyst in the buy- and sell-side. As an institutional fund management analyst, he sat on the China-Hong Kong desk. Terence was ranked top 3 for Best Analyst under the small caps and energy category in the Asia Money poll 2018.
About :Timothy covers the US technology sector focusing on hardware companies. Previously a credit analyst, he handled bond analysis and research for the fixed income desk. He has presented seminars for organisations such as SIAS, SPH and IRAS, commentated live market updates for 93.8FM, and authored investment articles for the Business Times newspaper. He graduated with a Bachelor of Commerce in Accounting & Finance from the University of Western Australia.
About :Vivian covers the small and mid cap stocks. Previously with the Credit Analyst team at a bank, she prepared credit reviews through conducting financial analysis and stress tests on local SMEs, and collaborated with Relationship Managers to prepare credit reports. She graduated with a Bachelor of Business from Nanyang Technological University, where she specialized in Banking and Finance.