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up or down on debut?
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wesely2k
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21-Sep-2012 09:42
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So...........buy or sell ? Alamak, Ah peh have heart attack! |
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sanuks
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21-Sep-2012 09:38
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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F& N deal springboard to top of Asia _ ThaiBevOrganic growth alone not enough, says CEOSource: Bangkok Post Business The recent successful acquisition of a major stake in Singapore-based Fraser and Neave Limited (F& N) represents a shortcut for Thai Beverage Plc (ThaiBev) to become a top player in Asia's huge beverage market, a status it would otherwise take years to achieve. 
Showing the way: Thapana Sirivadhanabhakdi (right) gestures to his billionaire father Charoen, chairman of ThaiBev, during the ThaiBev Expo 2012, a two-day conference attended by nearly a thousand dealers, in Bangkok yesterday. Thapana Sirivadhanabhakdi, president and CEO of ThaiBev, the flagship of a business empire controlled by his billionaire father Charoen, yesterday talked about the motivation behind the 80-billion-baht takeover of a 29% stake in F& N, the largest deal of its kind in decades. At yesterday's interview, Mr Thapana outlined ThaiBev's growth strategies: pursuing more mergers and acquisitions, largely overseas, and strengthening its own businesses through iconic brands like Chang. " We want to expand our businesses as fast as possible through our own brands and external business opportunities," said one of the five heirs of Mr Charoen, third on Forbes's 2012 Thailand 40 Richest ranking, with a net worth of US$6.2 billion. ThaiBev's sales total 130 billion baht and the company targeted to achieve turnover of 200 billion baht in 2015. The sale target would be brought forward as the company is on the lookout for more acquisitions. The F& N deal will significantly expand ThaiBev's international sales to 32 billion baht next year from 6.5 billion baht this year. The proportion of international business in total sales will also surge to 30% in 2013 from a mere 5% at present. " F& N is a blue-chip company. It has not only various beverage products but also operations around Asia-Pacific, as well as management expertise," he said. When the Asean Economic Communty (AEC) is formed in 2015, ThaiBev will have to compete with many international firms, he said. " For example, a Japanese company's overseas sales make up 30% [of its total sales] compared to ThaiBev's 5% through Chang, Mae Khong and Oishi. " Even if we increase our overseas sales by 30% every year, we could not compete with it." Mr Thapana said ThaiBev's business model has been adjusted to prepare itself for more intense regional competition. Over the past three decades, the company has shifted its focus from low-priced and value-for-money offerings through three strategies. The company has sought new export markets, improved manufacturing facilities for ease of quality control and strengthened its distribution network. |
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cedricngjianwei
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21-Sep-2012 09:30
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Thai Beverae will only go up:)
http://www.theedgesingapore.com/the-daily-edge/business/40043-dont-sell-into-thai-beverage-rally-cimb.html Don’t sell into Thai Beverage rally: CIMB Don’t sell into ThaiBev’s share-price rally, CIMB says. It believes Wednesday’s 13.0% share-price surge was a delayed reaction to easing concerns about a potential gearing burden, adding it was surprised the stock didn’t rally on Sept. 14 after the F& N offer came from the family and not the listed company. “With ‘The Heineken pact,’ it is now more likely that ThaiBev will gain control of F& N’s beverage brands and network. Unless a competing offer for F& N emerges in the next two weeks, ThaiBev/TCC has a good chance of gaining control of F& N and reaping the benefits of beverage business’ synergies without having to bear the debt burden.” But it notes, it doesn’t discount the possibility of a competing F& N bid, even with Heineken out of the picture. Despite APB being F& N’s prized asset, CIMB doesn’t view the loss as a negative as F& N’s beverage business is equally valuable and complements ThaiBev’s fast-growing domestic non-alcoholic beverage business. ThaiBev’s stock remains attractively valued at 15x 2013 P/E, it says, noting APB was purchased at 35x P/E. “The spirits business alone is worth more than the current share price.” It keeps an Outperform call with $0.60 target. The stock is down 1.3% at $0.385. |
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sanuks
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21-Sep-2012 09:02
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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Bravo!!! Bro. Lets sit back and enjoy the ride. 
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shadowmoon
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20-Sep-2012 23:03
Yells: "Henshin" |
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THbev will already benefit from current F& N deal that it have. (considered approx 1/3 bluechip ha) If capture the rest of 70%, its even better. A sure win situation. Today drop is due to weak market sentiment also. N also some weak hand, cannot take the shake anymore.....Thus have to give OUT. Think logically..... U really thk got other ppl will come & complete to eat F& N??? Even if have, believe me they will approach THbev to combine acquire instead. If that happen, kudos to THbev as they spend even lessor. If the Thai not interested to acquire all of F& N & just satisfy with with ever it had already, good luck to F& N shareholder. U will see yr favorite 5 to 6 SING dollar again.... If no one acquire APB & F& N, u the current F& N value can be achieved, dream on....man. It won't. Anyway, let continue to c how the game end.... CHEERIO |
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sanuks
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20-Sep-2012 15:05
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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anything can happen in a week ... lets see... | ||||
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bluechip138
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20-Sep-2012 14:44
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Why TB has a truce with Heineken? Is TB anticipating a uphill task of acquiring F& N as there are other strong potential bidders? TB is trying to save more bullets to fight these bidders if the analysts reported that it is buying F& N at a discount. If TB is buying at a discount @ $8.88 now, chances that this offer price will be rejected by F& N board is also high. |
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sanuks
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20-Sep-2012 14:24
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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woa! steady poon pi pi. 
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x1uhu1
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20-Sep-2012 14:11
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DJ MARKET TALK: Don't Sell Into Thai Beverage Rally -CIMB 20 Sep 2012 12:33 DJ MARKET TALK: Don't Sell Into Thai Beverage Rally -CIMB 0433 GMT [Dow Jones] STOCK CALL: Don't sell into ThaiBev's (Y92.SG) share-price rally, CIMB says. It believes Wednesday's 13.0% share-price surge was a delayed reaction to easing concerns about a potential gearing burden, adding it was surprised the stock didn't rally on Sept. 14 after the F& N (F99.SG) offer came from the family and not the listed company. " With 'The Heineken pact,' it is now more likely that ThaiBev will gain control of F& N's beverage brands and network. Unless a competing offer for F& N emerges in the next two weeks, ThaiBev/TCC has a good chance of gaining control of F& N and reaping the benefits of beverage business' synergies without having to bear the debt burden." But it notes, it doesn't discount the possibility of a competing F& N bid, even with Heineken (HEIA.AE) out of the picture. Despite APB (A46.SG) being F& N's prized asset, CIMB doesn't view the loss as a negative as F& N's beverage business is equally valuable and complements ThaiBev's fast-growing domestic non-alcoholic beverage business. ThaiBev's stock remains attractively valued at 15X 2013 P/E, it says, noting APB was purchased at 35X P/E. " The spirits business alone is worth more than the current share price." It keeps an Outperform call with S$0.60 target. The stock is down 2.6% at S$0.38. (leslie.shaffer@dowjones.com) | ||||
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toheewing
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20-Sep-2012 10:15
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I'm selling Thai Bev. Check out why i choose to sell: http://investingsgx.blogspot.sg/ |
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shadowmoon
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20-Sep-2012 09:41
Yells: "Henshin" |
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thanks bro fr the info. Emm since like THbev is in consolidation mode again..... Like i say, THbev will definately benefit greatly on this deal. Next 2 weeks is the critical time, consolidate now for the BIG JUMP for THbev price ...............CHEERIO
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sanuks
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20-Sep-2012 09:12
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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Shadowmoon, check this out Heineken Beer Scuffle Leaves Thai Tycoon Richer: Southeast Asia
By Joyce Koh, Sharon Chen and Jonathan Burgos -
Sep 20, 2012 1:00 AM GMT+0800
Thai billionaire Charoen Sirivadhanabhakdi's planned purchase of Fraser & Neave Ltd. for S$12.7 billion ($10.4 billion) will give him a beverages and real estate company at a 30 percent. F& N’s assets are valued at as much as S$18.2 billion, based on an offer by Heineken NV (HEIA) to buy the company’s stake in Asia Pacific Breweries Ltd. and analysts’ estimates of the valuation of its remaining property, soft drink, dairy and food units. Heineken, which last month offered about $4.4 billion for F& N’s stake in Tiger beer maker Asia Pacific Breweries Ltd., may need to win the Thai billionaire’s backing to buy the brewer. Photographer: Tomohiro Ohsumi/Bloomberg Heineken NV cleared the biggest hurdle in its fight to take control of Asia Pacific Breweries Ltd. as billionaire stakeholder Charoen Sirivadhanabhakdi’s Thai Beverage PcL pledged its support. Traffic moves past Frasers Centrepoint Ltd.'s The Centrepoint mall on Orchard Road in Singapore. F& N got about 30 percent of its 2011 revenue of S$6.3 billion from its property division, about 12 percent from soft drinks and 17 percent from dairies, according to data compiled by Bloomberg. Photographer: Munshi Ahmed/Bloomberg Heineken agreed to not make an offer for Fraser & Neave Ltd., the Amsterdam-based company said in an e-mailed release. Photographer: Tomohiro Ohsumi/Bloomberg Thai Beverage Pcl and TCC Assets Ltd., both controlled by Charoen, will back Heineken’s S$5.5 billion bid for F& N’s 40 percent stake in APB at a shareholder meeting next week, the companies said yesterday. The Dutch brewer, which runs APB in a venture, agreed not to make a competing offer for F& N. The deal means Charoen only needs to convince F& N shareholders to accept his offer for the rest of the company. “This is another shrewd move by the Thais,” said Justin Harper, a Singapore-based market strategist at IG Markets. “Charoen has already benefited from Heineken’s offer on the table for APB. (APB) He’s made money from that and he can now concentrate on the property and soft drinks side.” Charoen’s foreign foray started when he bought a 22 percent stake in F& N for S$2.78 billion from Oversea-Chinese Banking Corp. and its affiliates in July. He then spent about S$950 million buying a further 8 percent of the company in the open market over two months, based on the average price over that period. That was followed by last week’s S$9 billion bid for the remaining 70 percent of the 129-year-old Singapore conglomerate after the purchases triggered takeover rules in the city-state. Parts ValuationBesides the S$5.5 billion Heineken will pay in cash for the APB stake, F& N’s property assets are valued at S$8 billion to S$10 billion, said Jenai Chua, an analyst at Bank Julius Baer & Co. in Singapore. F& N’s food, dairy and soft drinks units have a market value of about S$2.7 billion, Lim Jit Soon, a Singapore- based analyst at Nomura Holdings Inc., said last month. “When you strip out APB, he’s buying the property assets at at least a 30 percent discount, so he’s not paying a high price for F& N,” said Jonathan Foster, a Singapore-based director of Global Special Situations at Religare Capital Markets. “We need to wait and see if F& N recommends that and whether there are other players out there who see that the price to get hold of those assets is too cheap and they’d be willing to pay a premium for that.” Thai RecordTCC, controlled by 68-year-old Charoen, made the S$9 billion bid on Sept. 13, offering S$8.88 a share for F& N. It’s the largest announced by a Thai company in at least 10 years, according to data compiled by Bloomberg. The offer came before a Sept. 28 meeting where F& N shareholders will vote on the Dutch brewer’s proposal to buy the APB shares it doesn’t already own. “Charoen’s style isn’t to rush in to buy a stake to scare shareholders,” ThaiBev (THBEV) Chief Executive Officer Thapana Sirivadhanabhakdi said of his father at a media briefing in Bangkok on Sept. 9. “The company has studied F& N’s business for many years.” F& N’s real estate business has boosted sales 33 percent since 2007 and the soft-drink unit’s revenue has increased 64 percent, according to data compiled by Bloomberg. Its brewing business rose 60 percent. Charoen’s unlisted TCC Group has a real estate arm and ThaiBev sells non-alcoholic drinks in addition to beer and spirits. Charoen’s plans for the remaining business remain unclear, said Julius Baer’s Chua. “Maybe he wants to keep the property assets because his empire spans a whole range of business activities from drinks to property to finance,” she said. “At this point really we don’t know what he’s thinking.” Final OfferF& N recommended that holders accept Heineken’s increased S$53-per-share bid for the 40 percent stake in APB in August. Heineken, the world’s most acquisitive brewer in the past 12 months, had said it would be its final offer. Heineken had originally been spurred to bid for control of APB, which it holds at least 42 percent of, after a company controlled by Charoen’s son-in-law bought shares in APB. “It is the deal of the decade,” ThaiBev’s Thapana said. “It provides an opportunity for us to expand businesses in Asia. We want to be a leader in the beverage business.” The Thai group will also make about S$178 million selling a separate stake of 8.6 percent in APB to Heineken, which it bought in July from OCBC and related parties for S$45 a share. Stock GainsThaiBev jumped as much as 22 percent to 42 Singapore cents yesterday, the highest level since its May 2006 initial public offering in Singapore, before closing at 39 cents. Heineken’s share price rose 6.4 percent to 45.55 euros in Amsterdam, the biggest gain in more than three years. Since OCBC announced on July 16 it was in talks to sell its shareholdings in F& N and APB, F& N’s stock has risen 12 percent and APB shares have surged 53 percent. F& N’s shares fell 1 percent to close at S$8.88 and APB’s shares slipped 0.2 percent to close at S$52.99 in Singapore yesterday. Kirin (2503), Japan’s largest brewer by market value, bought 14.7 percent of F& N two years ago for S$1.34 billion, or S$6.50 a share. Kirin closed 1.8 percent higher at 1,029 yen in Tokyo yesterday. The company had considered making a bid for F& N’s food and soft-drinks unit, people with knowledge of the matter said in August. “Investors are telling Kirin not to spend money since it has a huge interest-bearing debt,” said Masashi Mori, a Tokyo- based analyst at Deutsche Bank AG. “They are thinking they don’t care if Kirin retreats from Southeast Asia so long as it won’t join the takeover war. Their Southeast Asia profit contribution is small.” Yuko Kusano, a spokeswoman for Kirin, declined to comment. Cash DistributionF& N said last month it plans to distribute to shareholders about S$4 billion of the proceeds from the APB stake sale through a capital reduction. The proposal requires the approval of 75 percent of F& N shareholders to proceed. “He may decide that he’ll rather retain that capital within F& N and then he’ll have more flexibility to do what he chooses.” Religare’s Foster said. “It’s a decision they’ll make depending on what they want to do with the assets.” Charoen was born and raised in Bangkok’s Chinatown district after his parents moved from Shantau in China, according to TCC’s website. He started a trading business that supplied distilleries, and became a distiller after being awarded concessions to produce liquor in Thailand. Charoen bid for the rights to operate distilleries under the Sang Som Group during the liberalization of the nation’s liquor industry, and later expanded into beer, alcohol, sugar, and packaging businesses, according to the company. “So far he seems to seems to be controlling all the action,” Julius Baer’s Chua said. “He’s doesn’t seem to be reacting. He seems more proactive.” To contact the reporter on this story: Joyce Koh in Singapore at jkoh38@bloomberg.net Sharon Chen in Singapore at schen462@bloomberg.net Jonathan Burgos in Singapore at jburgos4@bloomberg.net
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shadowmoon
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20-Sep-2012 09:01
Yells: "Henshin" |
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The Thai is in good position in actual: Here is F& N portfollio: portfolio - food and beverages, properties, and publishing and printing. Item1: For Food & Beverages: THBev will definately take. Item2: For Property: Chances are high TCC Assets will take. Item3: For Publishing & Printing, Mostly likely sell away. With the profit from APB deal, & with possibility of selling away item3 & 2 (for 2 although chance are low), the Thai may not even have to fork out any money at all for the deal. Let see how things move on................Cheerio |
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sanuks
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20-Sep-2012 08:29
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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Thais move out of F& N's way
04:45 AM Sep 20, 2012
SINGAPORE - After weeks of anxious speculation, Heineken executives can breathe a collective sigh of relief following Thai whisky king Charoen Sirivadhanabhakdi's decision not to block Fraser and Neave (F& N) from selling its 39.7-per-cent direct and indirect stakes in Asia Pacific Breweries (APB) to the Dutch beer maker. In a brief announcement yesterday, Thai Beverage and Mr Charoen's holding company TCC Assets, which together have a 30-per-cent stake in F& N, said they would vote in favour of the sale at next Friday's extraordinary general meeting of the Singapore property and beverage company. In turn, Heineken undertook not to counter Mr Charoen's mandatory general offer for the remaining shares of F& N. The two had set the stage for two of Singapore's biggest takeover deals, with Mr Charoen making the first move in mid-July by purchasing a 22-per-cent stake in F& N from the OCBC Group for some S$2.8 billion. This got the Dutch beer maker worried, as it did not want to share its secrets and strategies with Mr Charoen, who happens to be also the largest beer manufacturer in Thailand with about 60 per cent of the market there. So Heineken offered to buy over F& N's stake and then make a general offer for the remaining shares of APB at a total cost of some S$8 billion. Then last week Mr Charoen, who also has a 8.6-per-cent stake in APB, launched his bid for all of F& N at S$8.88 a share, a move that could cost him an additional S$8.8 billion and giving rise to speculation that he would block F& N's sale of its APB assets to Heineken. Now that Mr Charoen has given short shrift to the rumours, he stands to recoup nearly S$7 billion from Heinken should he succeed in his takeover bid for F& N. " While he (Mr Charoen) would have loved to have APB, with its strong brands in Tiger and Heineken, in his portfolio, he is also a shrewd businessman and realises that if he would not be able to work with a hostile party, which could result in continuous infighting, that would do nobody any good," a ThaiBev source told TODAY. But he pointed out that Mr Charoen had actually wanted to work with Heineken and had flown to Europe to meet Heineken's management, but the Dutch had politely rebuffed him. However, yesterday's agreement between Mr Charoen and Heineken does not mean the battle for F& N itself is over. There could be others coming to the foray as an investment bank is said to have been engaged to entice other bidders. Observers also expect strong opposition to F& N's share reduction proposal, which is also on the table at next week's EGM.
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Bopanha
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20-Sep-2012 08:26
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Wah, Thai Beverage President and CEO is young and good looking.
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sanuks
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20-Sep-2012 08:19
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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ThaiBev has much to gain locally and regionally if it gets majority
Thai Beverage stands to benefit substantially if it gains majority control over Fraser & Neave (F& N), as the Singapore-based drinks firm would be a key piece of the jigsaw in strengthening the Thai firm's beverage profile in the Kingdom while expanding its local drinks into the region.Thapana Sirivadhanabhakdi, president and chief executive officer of ThaiBev, said during a recent interview with The Nation that the company had recognised that a takeover deal for F& N would be a win-win strategy for both companies. It would lead to a complementary effort between major businesses in this promising part of Asia, he said. Thapana said business synergy would be adopted allowing ThaiBev to distribute its beverages along F& N's regional network, while introducing F& N beverages with potential into the Thai market. F& N has three major businesses in its portfolio - food and beverages, properties, and publishing and printing. For food and beverages, the company provides consumers around the world with an array of leading brands. In the soft-drinks portfolio are F& N Sparkling Drinks, 100Plus isotonic drinks, F& N Seasons Asian drinks and fruit teas, F& N Ice Mountain bottled water, F& N Fruit Tree juice drinks and F& N cordials. F& N set up a Bangkok-based subsidiary, F& N Dairies (Thailand), in 2007 and operates two major factories in the Kingdom, located in Nakhon Ratchasima's Pak Chong district and Rojana Industrial Park in Ayutthaya. Its major products sold locally include Bear Brand sterilised milk, Carnation condensed milk, Tea Pot condensed milk, F& N Creation three-in-one coffee mix, Magnolia ChocMalt, and Magnolia pasteurised milk and whipped cream. ThaiBev's major non-alcohol beverages are Oishi ready-to-drink green tea, Chang drinking and soda water, Crystal drinking and soda water, Black Up ready-to-drink coffee, Fruit Net 100-per-cent fruit juice, Wrangyer and Ranger energy drinks, and Power Plus electrolyte beverage. " We have considered ourselves a substantial shareholder in the Singapore firm. What the company has been doing with F& N was quite clear in the eyes of investors and the general public. The company has never played games, but is looking for long-term value creation with F& N," said Thapana. " Our past track record is clear, as we tend to support and create value in any company we have invested in. With F& N, we are looking to explore opportunities for our beverage business as the main objective. It is a quite natural investment, as we will have a pipeline of sequential business deals," he added. The executive said ThaiBev had been studying F& N for a long time. The company has a strong cash flow and a distribution network that has spread throughout the Asia-Pacific, providing ThaiBev with an opportunity to grow in the region. Thapana said ThaiBev's investment in Oishi Group was another clear example of a win-win strategy. Oishi has enjoyed larger distribution coverage, especially in the traditional trade, with the support of ThaiBev. ThaiBev last year acquired Serm Suk, a leading local logistics company, and will develop and provide returnable bottles for Oishi for its beverage products, especially green tea, he added. - END - |
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shadowmoon
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19-Sep-2012 21:13
Yells: "Henshin" |
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ThaiBev support for Heineken bid may clear path to F& N assets WEDNESDAY, 19 SEPTEMBER 2012 15:00 Thai billionaire Charoen Sirivadhanabhakdi’s companies gave their support for Heineken NV’s offer for Fraser & Neave Ltd’s beer business, paving the way for him to take control the conglomerate’s other assets. A successful bid by Charoen’s companies would add a real estate business that has boosted sales 33% since 2007 and soft drinks and dairy units that grew 64% and 37%. The billionaire last week offered about $9 billion for F& N to add property and non-alcoholic drink assets similar to businesses he already controls. |
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shadowmoon
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19-Sep-2012 20:45
Yells: "Henshin" |
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THbev TP been put at 60 cents by analyst. Let c how things move. THbev chiong ah...ah...ah |
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shadowmoon
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19-Sep-2012 20:42
Yells: "Henshin" |
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APB deal is confirmed one... No doubt, with THBev support. F& N deal is die die must done also. If the Thai feel that its too expensive to buy all F& N share, what if he just satisfy with what he had acquired in market. Leaving the rest in market.... F& N share will drop to normal range bk... (around $6). Interesting .... Let see how the game end.... Let watch on sideline....cheers |
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sanuks
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19-Sep-2012 20:33
Yells: "Dont jump on moving train, you will hurt yourself - JIM ROGE" |
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Heineken and ThaiBev: It’s Almost Over |
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