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Dear all, STI has appreciated 18.0% from 3,788 on 31 Dec 2024 to close 4,469 on 21 Nov 2025. Notwithstanding such stellar performance, one STI component stock with extremely strong brand equity and entrenched market share has lagged severely by being down 14.7% over the same period. Yes, I am referring to ThaiBev. It closed at $0.465 on 21 Nov. Personally, ThaiBev looks interesting given attractive valuations; muted expectations and investors underweight position in this stock vis-à-vis other stocks. This will be a short write-up as I am clearing my backlog of work before my Xiamen family trip on Tues! Description of ThaiBev ThaiBev operates in four main business segments (click HERE for ThaiBev’s corporate website): Spirits – ThaiBev produces and sells branded liquor under the brands (e.g. Hong Thong, Sang Som, Mekhong and Phraya) and sells soda. Beer – The beer business group operates under BeerCo…
