Thai Beverage - UOB Kay Hian 2024-01-05: No Direct Impact From Announced Tax Changes But Awaiting Further Clarity

Thai Beverage - No Direct Impact From Announced Tax Changes But Awaiting Further Clarity

Thai Beverage (SGX:Y92) | SGinvestors.ioThai Beverage (SGX:Y92)
  • Thailand has announced a dual visa waiver programme with China that will start in Mar 24, which is set to boost incoming tourist arrivals for 2024. Thailand’s government has also announced tax changes for several liquor products and entertainment venues to help boost tourism spending.
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Regional partnership.

  • Starting 1 Mar 24, Thailand and China will permanently waive visa requirements for incoming tourists from both countries. This is after a temporary visa waiver that Thailand previously implemented in Sep 23 and was expected to end in Feb 24. In our view, this is likely to attract Chinese tourists that have been driven away by increased safety concerns after the shooting incident in Bangkok.
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  • With the permanent visa waiver and assuming increased flight capacity, we reckon that this would benefit consumer companies such as Thai Beverage (SGX:Y92) as incoming tourist numbers improve. However, downside risks may come from higher-than-expected airfares and a sluggish economy in China.

Proposed tax cuts.

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Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @

Llelleythan Tan UOB Kay Hian Research | Heidi Mo UOB Kay Hian | 2024-01-05

Read also UOB's most recent report:
2024-02-15 Thai Beverage - 1QFY24 In Line As Margins Improve.

Price targets by 3 other brokers at Thai Beverage Target Prices.

Listing of research reports at Thai Beverage Analyst Reports.

Relevant links:
Thai Beverage Share Price History,
Thai Beverage Announcements,
Thai Beverage Dividends & Corporate Actions,
Thai Beverage News Articles


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