Thai Beverage Likely to Benefit From Lower Raw Material Costs -- Market Talk

Dow Jones01-08

0215 GMT - Thai Beverage is likely to benefit from lower raw material costs this year, according to DBS Group Research's Zheng Feng Chee and Andy Sim. Softer prices for commodities, including chocolate and sugar, are expected in 2026, supporting margin expansion for Singapore-listed packaged food companies, the analysts say. Thai Beverage is DBS's preferred pick in the packaged food space over chocolate confectionery company Delfi, citing the less discretionary nature of the former's beverage portfolio compared to chocolate. DBS also expects Thai Beverage to be supported by potential value-unlocking moves at its drinks subsidiary, Fraser & Neave. DBS maintains a buy rating and S$0.62 target price on Thai Beverage, which trades 1.1% lower at S$0.46. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

January 07, 2026 21:15 ET (02:15 GMT)

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Thai Beverage is DBS's preferred pick in the packaged food space over chocolate confectionery company Delfi, citing the less discretionary nature of the former's beverage portfolio compared to chocolate. DBS also expects Thai Beverage to be supported by potential value-unlocking moves at its drinks subsidiary, Fraser &amp; Neave. DBS maintains a buy rating and S$0.62 target price on Thai Beverage, which trades 1.1% lower at S$0.46. (megan.cheah@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 07, 2026 21:15 ET (02:15 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Thai Beverage Likely to Benefit From Lower Raw Material Costs -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThai Beverage Likely to Benefit From Lower Raw Material Costs -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-01-08 10:15</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0215 GMT - <a href=\"https://laohu8.com/S/Y92.SI\">Thai Beverage</a> is likely to benefit from lower raw material costs this year, according to DBS Group Research's Zheng Feng Chee and Andy Sim. Softer prices for commodities, including chocolate and sugar, are expected in 2026, supporting margin expansion for Singapore-listed packaged food companies, the analysts say. Thai Beverage is DBS's preferred pick in the packaged food space over chocolate confectionery company Delfi, citing the less discretionary nature of the former's beverage portfolio compared to chocolate. DBS also expects Thai Beverage to be supported by potential value-unlocking moves at its drinks subsidiary, Fraser &amp; Neave. DBS maintains a buy rating and S$0.62 target price on Thai Beverage, which trades 1.1% lower at S$0.46. 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Thai Beverage is likely to benefit from lower raw material costs this year, according to DBS Group Research's Zheng Feng Chee and Andy Sim. Softer prices for commodities, including chocolate and sugar, are expected in 2026, supporting margin expansion for Singapore-listed packaged food companies, the analysts say. Thai Beverage is DBS's preferred pick in the packaged food space over chocolate confectionery company Delfi, citing the less discretionary nature of the former's beverage portfolio compared to chocolate. DBS also expects Thai Beverage to be supported by potential value-unlocking moves at its drinks subsidiary, Fraser & Neave. DBS maintains a buy rating and S$0.62 target price on Thai Beverage, which trades 1.1% lower at S$0.46. (megan.cheah@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 07, 2026 21:15 ET (02:15 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"economic","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.0","shortVersion":"4.36.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2601363933","isCrawlerRequest":true}