ThaiBev fires the first shot and waits

SINGAPORE (Sept 30): Boon Rawd, the brewer of Leo beer, has yet to make a move to wrest back market share won by rival Chang beer, according to Thai Beverage.

However, ThaiBev is sure that its main competitor will react soon given the seasonally stronger 4Q. But it remains to be seen if Boon Rawd would repackage its bottles, extend its product line or introduce a new brand. In a Friday note, CIMB analyst Jonathan Seow notes that Chang now has a 40% market share compared with Leo’s 50% market share.

ThaiBev has not been standing by idly either. It recently launched a new soda product under the Rock Mountain brand to complement its existing Chang and Crystal soda water products and claw back market share from Boon Rawd’s Singha soda water.

---

Related Stories

• Lim & Tan Securities maintains ‘buy’ on Grand Banks Yachts; almost doubles TP to $1.05
• Brokers’ Digest: AEM, Prime US REIT, Hyphens Pharma, Seatrium, Valuetronics, DFI Retail Group, CDG, Centurion, Sembcorp
• Citi maintains ‘buy’ on Keppel DC REIT after acquisition of two data centres in Genting Lane

---