Thai Beverage (ThaiBev), the Singapore-listed Asean food and beverage company, looks set to spend 7 billion baht to expand its businesses both domestically and internationally in the current fiscal year, which began on Oct 1.
Of the total, 4 billion baht has been allocated to construct a new beverage factory in Cambodia, with 3 billion earmarked for logistics facilities, a biogas factory, and other strategic initiatives, said Thapana Sirivadhanabhakdi, the company’s president and chief executive.
“With the resurgence of tourism and the food and beverage industries, we have been taking steps to reinforce our brand and market positions across our business segments to enhance our competitiveness,” Mr Thapana said. “The company plans to pursue sustainable growth through three strategic pillars: growth, sustainability and enablement.”
Under the growth pillar, ThaiBev wants to diversify its market presence, expand its product portfolio and meet evolving consumer demands.
Michael Chye Hin Fah, head of the company’s beer product group, said ThaiBev is constructing its first beer production plant in Cambodia, which is scheduled to be completed within two years. The facility has a total production capacity of 50 million hectolitres per year.
“This marks the first time ThaiBev will build its own brewery factory in Cambodia, which is the result of the country’s rapid market growth and untapped potential,” said Mr Fah. “With the brewery, Chang beer will eventually capture a 10% market share in the premium beer segment in the long term.”
Regarding ThaiBev’s performance, he said the company’s beer business in Thailand has recovered as economic activities rebound and tourists return.
However, the firm’s business in Vietnam continues to face challenges stemming from weak consumption amid macroeconomic headwinds, said Mr Fah. Improved logistics will facilitate the efficient delivery of beverages produced at the Cambodian factory to the Vietnamese market, he said. Source: Bangkok Post
