Saigon Beer-Alcohol-Beverage Corp (Sabeco), which is a subsidiary of Thai Beverage (ThaiBev), could continue to be a drag on the latter, according to Phillip Securities.

This comes as the regulatory ban on drink driving continues to curb beer consumption in Vietnam, the brokerage warns.

In 3Q, ThaiBev’s beer volumes contracted almost 20% due to Sabeco’s underperformance.

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