Teaching Note: TEGH: sustainability driving performance and equity valuation

This case centers on Panu Tiyanont, a financial analyst at Alpha Securities, who was tasked with evaluating Thai Eastern Group Holdings Public Company Limited (TEGH) to determine how its business strategy and operations were being shaped by modern ESG-driven regulations. TEGH was a leading Thai producer and exporter of block rubber and concentrated latex, with additional crude palm oil and renewable energy businesses. As export markets increasingly required legal sourcing, traceability and “deforestation-free” supply chains, Panu had to assess how frameworks such as the EU Deforestation Regulation (EUDR), RSPO and FSC affected TEGH’s production processes, supply chain controls and long-term...