Thailand's Securities and Exchange Commission will indefinitely suspend the listing of Thai Beverage PCL, the country's largest liquor and beer maker, pending a new law governing alcohol beverages. Following strong opposition from a number of social groups on the grounds that it would encourage alcohol consumption, which runs counter to the beliefs of the country's Buddhist majority, the listing of Thai Beverage has been put on hold. There are also important claims that the listing is against a stock exchange rule, causing that listed companies must run businesses that benefit the society. Owned by liquor tycoon Charoen Sirivadhanabhakdi, The Thai Beverage hoped to rise as much as THB40 billion, through its initial public offering. The time and place for selling alcohol beverages and also limit the age of drinker will be controlled by The Public Health Ministry's new law on alcoholic beverages. It will also limit the promotional and advertising activities of beverage companies. It’ll take two years before the law comes into force.

<< Bangkok News Archive