Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

Thai Beverage (THBEV): Weak Quarter Ahead

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Event-Driven

<a href="https://www.smartkarma.com/entities/thai-beverage-pcl" target="_blank" data-smartkarma-citation="entities:3656:1" rel="noopener">Thai Beverage (THBEV SP)</a>, Thailand’s second largest beer manufacturer with 35-40% market share and the owner of popular beer brands such as Chang, Archa and Federbrau said on Friday (16th April 2021) that they have decided to postpone the IPO of its brewery unit, BeerCo due to uncertain market conditions and volatile outlook, aggravated by the worsening COVID-19 pandemic in Thailand and other countries.
Based on our calculations the company is currently trading at a 35% NAV discount, which is just 2% off from the widest discount seen over the last five years.

Thai Beverage (THBEV SP), Thailand’s second largest beer manufacturer with 35-40% market share and the owner of popular beer brands such as Chang, Archa and Federbrau said on Friday (16th April 2021) that they have decided to postpone the IPO of its brewery unit, BeerCo due to uncertain market conditions and volatile outlook, aggravated by the worsening COVID-19 pandemic in Thailand and other countries.
Based on our calculations the company is currently trading at a 35% NAV discount, which is just 2% off from the widest discount seen over the last five years.

ThaiBev: Weakening Baht & Postponed BeerCo IPO Could Continue to Pressure The Share Price