ThaiBev ID Wee gulps 100,000 shares as price dips to pandemic-low

ThaiBev shares have declined by around a-fifth year to date

Wee Joo Yeow, an independent director of Thai Beverage Public Company, has snapped up 100,000 shares on June 7 at 55 cents each.

Thai Bev shares have declined by around a fifth year to date.

Wee, who was appointed to this role on Jan 2021, previously held 90,000 Thai Bev shares.

At 55 cents, which is also the closing price on June 7, Thai Bev is trading at a level last seen in March 2020, when the pandemic just broke out.

Besides sitting on Thai Bev's board, Wee is also an independent director of Oversea-Chinese Banking Corp, Great Eastern Holdings and Frasers Property.

In its 1QFY2023 business update for the three months ended Dec 2022, the company said it has enjoyed higher revenue in line with post-pandemic re-opening, although ebitda was down because of higher marketing and material costs.

For the quarter, sales was up 4.9% y-o-y to THB 81 billion ($3.18 billion) while ebtida was down 7.7% y-o-y to THB 13.5 billion.

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