Cambodia: ThaiBev incorporates new wholly-owned subsidiary in Cambodia
The subsidiary of SGX-listed Thai Beverage Public Company Limited, Asia Breweries Limited, incorporated a new wholly-owned subsidiary, BeerCo, in Cambodia, the Singapore Business reported on November 29.
In a bourse filing, ThaiBev said BeerCo has a registered share capital of $137,713 (US$100,000), with 100,000 shares.
"It is incorporated as a holding company for the beer business in Cambodia," said ThaiBev.
The investment will be funded through internally generated funds and will not have any impact on the earnings per share and net tangible assets of ThaiBev for this fiscal year.
ThaiBev was recently the top stock on the index and its strengthened portfolio is seen to boost its recovery until next year.
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