Fraser & Neave (F&N), the Singapore food and beverage group controlled by Thai Beverage Plc, is expanding its beer business in Myanmar, according to local reports. F&N plans to invest S$19.2 million (495 million baht) in Myanmar to build a new brewery through a joint venture with the local beverage conglomerate Win Brothers, The Irrawaddy, an independent Myanmar news service, reported on Wednesday. Singapore-listed ThaiBev, the brewer of Chang beer, is one of the flagship companies of Thai billionaire Charoen Sirivadhanabhakdi, 89. His TCC Group of companies also has extensive interests in property, ranging from One Bangkok to the Asiatique mall. The group also owns the retailer Big C and the listed trading company Berli Jucker Plc. With a net worth estimated at $13.3 billion, Mr. Charoen is the third richest person in Thailand, according to Forbes magazine.
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