Beer Chang Listing Trouble For Stock Market

[george]

Beer company listing spells brewing trouble for stock market

BANGKOK: -- Around 100 demonstrators on Tuesday gathered outside the Stock Exchange of Thailand (SET) in Bangkok to protest against a move by the brewers of the popular Beer Chang to list the Thai Beverage Company on the Thai stock market, arguing it will lead to increased alcohol consumption among Thais.

In a protest letter, a coalition of activist groups said brewers would use their stock market position to drum up more investment.

The funds would then be used to increase capacity and produce ever cheaper beer in bid to secure a greater market share.

The protesters said this was a development that went against the government's stated social policy announced during the recent election campaign.

Former actor Thaenkhun Jit-issara, who joined the protest as a representative of the No Na Youth Club, said he disagreed with the move to allow a beer brewer to list on the stock exchange, saying it would lead to greater social ills.

''I used to work with a network against drunk driving and I know that drinking has caused many road accidents,'' he said.

''Besides, drinking also leads to other social misbehaviours, like rape, arguments and family problems. To prevent brewers from listing on the SET would mean fewer social problems and deaths from road accidents,'' the former actor said.

Ja-ded Chaowilai, of the Aid Coordination Network for Women and Children, said the protest served to highlight the "thoughtless decision" by the SET to list a beer company without considering the negative social impact of the move.

Meanwhile, SET President Kittirat Na Ranong said he would pass on the protest letter to the SET board for consideration.

--TNA 2005-02-22

[britmaveric]

The funds would then be used to increase capacity and produce ever cheaper beer in bid to secure a greater market share.

[george]

Over 100 rally at SET against Chang IPO

BANGKOK: -- More than 100 protesters rallied at the Stock Exchange of Thailand yesterday to oppose the proposed share listing of beer and liquor giant Thai Beverage.

The protesters, representing 15 religious organisations, the No Nicotine and Alcohol Club, the National Buddhism Office and women and youth organisations, called on securities regulators to rethink their plans to allow Thai Beverage to list.

Among the protest leaders is Maj-Gen Chamlong Srimuang, a former Bangkok governor, who views the listing as immoral given Thai Beverage's core business in liquor and beer sales.

Jadej Chaowilai, one of the protesters, said that allowing Thai Beverage to list would only encourage other companies promoting socially questionable products to raise funds from the public as well.

``If they allow this deal, there will be a second, a third and a fourth coming as well, and that will be no good for Thai society, particularly women and children,'' she said. ``I fear for the society we would have in the future. Children would just go around and drink themselves to death. I'm not exaggerating, and want [the SET] to rethink its decision.''

Thai Beverage, owned by billionaire Charoen Sirivadhanabhakdi, with Chang Beer as its flagship along with a number of whiskey products, is looking to raise 40 billion baht in what is projected to be the largest private-sector IPO in market history.

Protesters questioned how the government could maintain its public health campaign against drinking and smoking while at the same time encouraging producers to expand their businesses using public funds raised from the capital market.

The SET and the Securities and Exchange Commission say a listing by a brewer is not expressly prohibited by law, but they say that a final decision would depend on government policy.

SET president Kittiratt Na Ranong received a petition from the protesters and said he would deliver the grievances to the exchange board for consideration.

``Don't worry. ... Over the past 3 1/2 years as the SET president, I have always worked closely with youths and promoted education programmes,'' he said.

--Bangkok Post 2005-02-23

[jayenram]

What a load of cobblers!

[Lars]

It's about time we get cheaper beer here anyway,too expensive as it is.

And saying that Thai Beverage also has "whiskey products"...

I always wonder if they know what whisky really is.

[Pattaya_Fox]

These protestors must like to get inebriated by drinking a different brand....probably controlled by political heavywieghts....I wonder who has really funded this campaign?

Let Chang float (at cheaper prices) into the mouths of the many!