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

The Edge Singapore
The Edge Singapore  • 1 min read
ThaiBev ID Wee gulps 100,000 shares as price dips to pandemic-low
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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 Bevshares 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.

See also: Union Steel disposes of yet another 30 mil shares in Eneco Energy for $345,000 via off-market transaction

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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