Published on : Mar 09, 2015
The Thai Beverage Plc a food and beverage company is expanding rapidly to cover the East Timor as well. Recently, the company has set up a brand new company named as InterBev Timor and registered a capital of US$10,000. This capital is supposed to be distributed within Thai beverages including beer, fruit juice, and drinking water under East Timor.
This food expansion is a major part of the five billion baht investment that is used to broaden the food and beverage production lines for this current year. The sales are predicted to boost by 12-15% from the value of 162 billion baht as earned in the last year.
The chief executive of ThaiBev said East Timor is rated as the 11th country that triumphed over other companies in the world. It is a strong market with immense potential and lucrative business opportunities of oil and beans, added Mr Thapana. The country is also expected to be a part of Asia that will help in boosting the economy. East Timor is located in an ideal location close to Australia and Indonesia with representative offices expected to start in many places. The company offers business opportunities to Pacific markets as well. It also started selling Chang beer around six months ago. The company is soon to market non-alcohol products too.
ThaiBev is listed on SSE and has informed the concerned Singapore Exchange Securities Trading Limited of its expansion plans to East Timor. Over the years the company has expanded its business to 10 different members in Asia. In 2013, the company used $11.2 billion to capture Neave and Fraser in Singapore. The investment was a part of the company’s 2020 business strategy that was aimed at boosting ThaiBev sales to help it reach 300 billion baht by 2020.
The revenues earned last year amounted to 24%. However, the overseas earnings expected were 50%.
The Food of Asia also opened at North Park in Laksi at the Rajpruek club. The director of Food of Asia said expansion into fine-dining Chinese restaurant follows the company’s food line reputation after the famous Japanese restaurants chain called Oishi.
However, ThaiBev is here to focus on the food business and with investments 1 billion baht it would open a central kitchen to supply raw materials nationwide.