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ThaiBev Allocates B18 Billion for Expansion Plans

ThaiBev Allocates B18 Billion for Expansion Plans

Thai Beverage (ThaiBev), a food and beverage company listed in Singapore, has announced plans to allocate 18 billion baht this year for both domestic and international expansion.

Chief Executive Thapana Sirivadhanabhakdi introduced the company’s “Passion 2030” vision, which outlines a new five-year strategic plan aimed at ensuring agility in response to changing consumer behaviors and offering digital solutions tailored to customer preferences.

Recognizing significant growth potential in the service sector, ThaiBev sees the digital platform as a key area for development.

Prapakon Thongtheppairot, Executive Vice President overseeing spirit products, indicated that the company will focus on expanding its spirits division over the next five years by exploring opportunities in international markets. The total investment budget for this fiscal year, running from October 1, 2024, to September 30, 2025, is set at 18 billion baht, which will encompass all product lines, including food, alcoholic beverages, and non-alcoholic beverages (NAB). Of that amount, 2.5 billion baht will be invested in Cambodia.

Kosit Suksingha, Executive Vice President responsible for NAB and the digital and technology sector, announced plans to invest 8 billion baht in the AgriValley project in Malaysia. The project aims to establish a dairy farm raising 20,000 cows across 2,726 hectares.

“This initiative in Malaysia will feature an integrated dairy farm with a closed-loop system to cater to the local market. We also see Malaysia as a key hub for halal products,” Mr. Kosit stated.

He noted that the Thai NAB segment has been performing well, and the company considers Malaysia, Vietnam, Myanmar, and Thailand as its primary strategic markets for NAB. In addition, Singapore, Cambodia, and Laos are included in their strategic market considerations, with Indonesia identified as a promising opportunity.

“Furthermore, the overall Thai NAB sector has benefited from the 10,000-baht cash handout scheme,” Mr. Kosit added.

Mr. Thapana acknowledged that many Thais face financial difficulties due to the pandemic but expressed optimism that the economy would gradually recuperate in the near future through government stimulus initiatives.

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