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It rose as investors see the stock as a proxy to Singapore's booming property sector.
"Investors increasingly see Thai Beverage as a property play, as the firm has said it plans to increase its property exposure," said a dealer from a regional brokerage.
Local daily The Business Times quoted Thai Beverage as saying on Thursday that it was on the lookout for more property acquisitions in Singapore.
Another dealer from a local stock broker said Thai Beverage is cheaper compared to rival Fraser & Neave , a beverage firm that also owns property. Thai Beverage trades at 11.4x its forecast earnings, while Fraser & Neave trades at 20.3x, according to Reuters data.
STOCK ALERT - Singapore-listed Thai Beverage up on bid for China's Anhui Gujing
Finally moving... still trading below IPO price though. Pretty high volume today, any idea why?
Good volume = good for TA... :)
This is a penny stock but the volumes are good. TA may not be accurate but I believe this counter is on a downtrend now.
political unstable, unrest in the south, over all market situation is uncertain resulting losing investors confidence.
yeah, weird, the price fall to 0.24, but look at the annoucement today, the directors bought so many shares during the open market today.... there will be price movements soon...
are they trying to support the price or some news is leaking ?
Anyone know why this counter fell lately. Today traded at $0.25...
Thailand's largest brewer said its quarterly profit fell 3%, due to falling sales of spirits and the higher cost of the raw material molasses.
Thai Beverage, which makes Chang Beer and Mekhong whisky, reported a 2006 net profit of 10.05 billion baht, compared with a restated 10.34 billion baht in the same period a year ago.
This was below a consensus net profit forecast of 10.5 billion baht from four analysts polled by Reuters Estimates.
This type of chart is difficult to analyse technically. The best strategy is to buy it low when it's on the floor level and hold as long as possible until it surges one day for significant gains.
Dear Readers,
Is it moving now?
what to do? This baby keeps getting sabotaged by it's own government. In the first place, they were upset the it refused to list on Bangkok Xchg. Once they are listed on SGX, they announced the laws about restriction on advertisment. Plus the coup, plus the flip-flop on capital control, etc etc The list goes on. One consolation is that at least it is holding around IPO price quite well.
Strong fundamental and is still undervalued...but how come is not moving?
Bought 2000 shares at IPO. It's been stagnant for the past half-a-year. No harm holding on, seems stable. But boy, am I starting to doze off!
let the dust settle first.
It fell as low as $0.26 as investor confidence took a hit after Thailand's central bank announced new measures to curb the Thai baht's rise.
One dealer with a Singapore stockbroker said the bank's steps had shaken market confidence in the earnings growth potential of ThaiBev, which listed its shares in May.
"If the baht is falling in value, it is natural that the earnings of Thai firms will be affected," he said.
The Bank of Thailand said on Monday speculators would have to keep their money in the country for at least one year or face stiff financial penalties.
Thai Beverage, Thailand's largest brewer and distiller, fell to a four-month low of $0.26, after Citigroup initiated coverage of the stock with a "sell" recommendation.
Per-capita alcohol consumption growth in Thailand is expected to slow to a CAGR of 4.2% for 2005-2010, from 7.3% in the 1997-2005 period, Citigroup analysts Peter Williamson and Stanley Chan said in a report on Tuesday.
"Thai Beverage is thus faced with organic offshore growth -- a slow and difficult path," Williamson and Chan said. "Stock is likely to appeal only to the most defensive investors.
Thai Beverage shares are trading below the IPO price of $0.28. Citigroup has a price target of $0.24 on the stock.
Buy on a dip and wait for 2cents profit to come...
All vol done a 28.5c. Very cheap for a beer counter compared to AP Breweries. Since the coup is successful, people in Thailand will probably buy more Chang to celebrate and Thaksin camp will also buy more Chang to drown their sorrows!!!
Top volume counter today. Big fall due to Thai problems.