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ThaiBev earnings could stumble as Thailand mourns passing of King Bhumibol

Broker's Calls

ThaiBev earnings could stumble as Thailand mourns passing of King Bhumibol

Jude Chan Published on Tue, Oct 18, 2016 / 12:09 PM GMT+8

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SINGAPORE (Oct 18): DBS Group Research says Thai Beverage Public Company could see earnings fall some 5.8% in FY17 as Thailand declares a year-long mourning period following the passing of King Bhumibol Adulyadej.

While there has been no outright ban imposed on the sale of alcohol, Thai authorities have called for the avoidance of “joyful events” for 30 days.

The Kingdom is in a sombre mood, and voluntary closures have been reported at several entertainment outlets.

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