SINGAPORE - Thailand-based beverage company Thai Beverage Public Company (ThaiBev) is set to increase the revenue contribution from non-alcoholic beverages to more than 50 per cent by 2020.
It is also targetting for the sale of products outside of Thailand to rise in revenue contribution to over 50 per cent by the end of the same period.
These moves, aimed at diversifying its revenue stream, comes in as part of the group's vision to become "the biggest and most profitable beverage company in Southeast Asia", said ThaiBev in a statement on Monday.
The bulk of the mainboard-listed firm's revenue currently comes from the sale of alcholic beverages in Thailand.
In the statement, ThaiBev revealed its roadmap for the next six years, titled "Vision 2020".
"Vision 2020 is all about sustainable leadership. It underlines our resolve to consolidate and build on our leading position in Southeast Asia, " said Mr Thapana Sirivadhanabhakdi, president and chief executive of ThaiBev.
"To this end, we endeavour to align our various businesses along a common path and harness our combined strengths.
"Through Vision 2020, we seek to provide customers with even better products; create greater value and deliver more sustainable returns to shareholders," he said.
ThaiBev has also streamlined its businesses into three product groups - spirits, beer, and non-alcoholic beverages - with Singapore as one of the primary markets with the "greatest growth potential" for the latter two products.
"In order to realise such potential, robust and efficient routes to all markets are required," said the group. "Accordingly, ThaiBev plans to strengthen its existing distribution networks, build new ones, and also enter into partnerships with third-party distributors if required."
Mr Thapana added: "Our employees play an important role in our quest for deeper and wider market leadership. Vision 2020 has to permeate our entire organisation, and inspire the way we work at all times.
While we have already achieved extraordinary growth over the past 11 years, I believe Vision 2020 will be an exciting new initiative that sets ThaiBev on a bold path to securing an even more stable and sustainable leadership position in Southeast Asia."