Anti-alcohol advocates to protest brewers listing on exchange

Written by Writer on Friday, October 24th, 2008

Anti-alcohol advocates to protest brewers listing on exchange

BANGKOK, Oct 24 (TNA) – The Alcohol Watch Network and other 264 religious, family, and youth-related organisations’ plan to stage a major protest against Thai Beverage, a major beer and whiskey producer to list on the Stock Exchange of Thailand (SET).

Thai Beverage said in a statement released Wednesday that it has applied for listing on the SET with its shares expected to be traded by the end of this year.

The previous company’s attempt hit a snag due to protests and it moved to successfully list on the Singapore exchange in May 2006.

Network coordinator Kamron Chudecha said the network opposed the application of the leading Thai beer maker to be listed in the SET as the company ran a business which harms the health of people and society.

More importantly, he said, SET is Thailand’s leading organisation, it should be aware more of Corporate Social Responsibility (CSR) and should not be involved with such sinful business against Thai morals.

The Network will carry on all kinds of protests to stop the evil processes, said Kamron.

Thai Beverage said stabilisation of Thailand’s regulatory environment with the passage of a new alcohol bill through the parliament had contributed to its decision to list.

Another anti-alcohol group, the Friends of Women Foundation, said the company’s claim over the bill was irrelevant as the bill was aimed to protect public health and prevent new drinkers while SET listing would increase the capital of the company. (TNA)