Thai Beverage Pcl (ThaiBev) has notified the Singapore Exchange (SGX) that it will sell its entire stake in Frasers Property Limited (Frasers Property) to TCC Assets, a holding company affiliated with ThaiBev.

FRASER & Neave Holdings’s net profit for its second quarter ended March 31 rose 18.2 per cent to 107.08 million ringgit (Bt856.3 million) on the back of revenue falling to 992.74 million ringgit from 1.01 billion ringgit in the same quarter a year ago.