PepsiCo Still Committed Despite Serm Suk Tender Cancellation

BMI View: Disappointed by the failure of its Serm Suk tender offer, PepsiCo will nonetheless remain committed to Thailand. High existing beverage spending levels, favourable population demographics, healthy forecast economic growth, good medium-term potential for tourist sector growth and a proven consumer readiness to trade up to more expensive varieties make this an attractive investment. Furthermore, Thai growth can play a vital role in helping the company reduce its developed state reliance.

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