SINGAPORE (Dec 19): Thai Beverage has clarified that claims in the media that it is seeking a buyer for its business in Vietnam is “false and without merit”.

In a filing to SGX late on Wednesday night, ThaiBev says it is confident in its business in Vietnam, and remains “strongly committed” to making Saigon Beer–Alcohol–Beverage Corporation (Sabeco) and Bia Saigon “the pride of Vietnam”.

“Vietnam continues to be one of ThaiBev’s core markets and is integral to its goal of becoming a stable and sustainable leader in Southeast Asia’s beverage industry,” the group adds.

One of Southeast Asia's largest beverage companies, ThaiBev is owned by Thailand’s richest man, Charoen Sirivadhanabhakdi.

The group last month said it was exploring the potential spin-off and listing of its beer business, in what could be the biggest listing in Singapore in close to a decade.

The initial public offering (IPO) on the Singapore Exchange (SGX), which could include ThaiBev’s beer assets in Thailand and Vietnam, is said to seek to value the unit at as much as US$10 billion ($13.7 billion).

See: Potential spin-off and listing of ThaiBev's beer business could bring new highs

In its clarification filing on Wednesday, ThaiBev stressed that the IPO is “still at early stages” and cautioned that there is no certainty or assurance that any such transaction will occur.

As at 11.57am, shares in ThaiBev are trading 1 cent lower at 88.5 cents.