THAILAND: Beer and Buddhism, a Definite No - Cry Conservatives
By Sonny Inbaraj
BANGKOK, Mar 21 (IPS) - Beer business and Buddhism, in Thailand it seems, do not mix. And
that will be the message the Stock Exchange of Thailand will have to heed when it meets
Wednesday to decide whether to allow the public listing of Thai Beverages, brewer of the
country's best-selling Beer Chang or ''Elephant Beer''.
On Friday over 2,000 monks from the Thai Buddhist Monks National Coordination Center made
their way to the stock exchange headquarters in Bangkok's Ratchadaphisek area and chanted
prayers outside the building to condemn liquor companies.
In a statement, they denounced the listing as ''a grave threat to the health and culture'' of the
predominantly Thai Buddhist society, ''which could be harmed by the proliferation of the liquor
business.''
''It is one of the duties of a Buddhist monk to promote good morality to the world. We have
poured away liquor and burned cigarettes in our protests before,'' monk Phra Kittyano Bhikku
told reporters at the protest.
At the heart of the matter is Thai Beverages, owned by Charoen Sirivadhanbhakdi who was
named by 'Forbes' magazine as this year's richest man in Thailand.
Charoen, a strong political and financial supporter of Prime Minister Thaksin Shinawatra,
intends to sell one-third of Thai Beverages' shares to the public, raising up to one billion U.S.
dollars in what could be the biggest listing in the history of the Thai stock exchange.
Beer Chang, Thai Beverages' flagship, was launched in cooperation with Carlsberg Breweries of
Denmark in 1996 and was awarded a gold medal at the Australian International Beer Awards in
1998. It now controls about 80 percent of Thailand's 2.1 billion U.S. dollar domestic beer
market, edging out Singha Beer that used to be the country's top selling brand.
Thai Beverages in a statement said its priority was to list on the Thai stock exchange, even
though other markets, such as London, Singapore and Hong Kong have courted it.
Stock exchange authorities are keen to list Thai Beverages because they feel it would add to the
size of the Thai market, making it more attractive to local and international investors.
''If Thai Beverages were listed it could be useful to the market and to the Thai economy because
the firm would become stronger and be in a position to raise money to reduce debt,'' Kittirat Na
Ranong, president of the Stock Exchange of Thailand, told a business seminar over the
weekend.
But the strong anti-listing sentiment among Thailand's conservatives and anti-alcohol
advocates could see stock exchange officials delaying their decision just to buy more time -
especially when there is increasing concern about the drinking habits of fun-loving Thais and
the rise in teenage alcoholism.
According to the Stop Drinking Alcohol Network, a group advocating tighter restrictions on
alcohol sales, the average Thai drinks 14 liters of pure alcohol a year, higher than anywhere in
Asia.
Also, alcohol consumption among female teenagers increased by 600 percent between 1996 and 2003.
Duenden Nikhomborirak, a medical doctor with the Thailand Development Research Institute,
said that the stock exchange listing would strengthen the beer giant making alcohol sales more
difficult to control.
''While large amounts of alcohol are still being sold to young people, and while law enforcement
remains poor, we should not allow alcoholic products to be listed on the stock exchange'', said
Duenden.
''We first need to build up mechanisms which help reduce the consumption of alcohol,'' she
added.
Currently, sales of alcohol are banned in retail outlets, including supermarkets, between 9am
and 11am and from 2pm to 5pm.
''Millions of Thai children and women suffer at the hands of drunks everyday,'' said the Thai
Women Leaders for Community Development in a statement. The group also condemned the
planned listing of Thai Beverages as an act of pursuing economic goals without regard for the
country's social and cultural interests.
Given the close relations between Thai Beverages' Charoen and Prime Minister Thaksin's ruling
Thai Rak Thai party, it cannot be ruled out that the premier himself might intervene in the
controversy.
But for the time being the party seems to be shying away from the religious, moral and cultural
time bomb.
Deputy Interior Minister Somchai Sunthornvut, chairman of Thai Rak Thai's party meetings told
'The Nation' daily that any move by party MPs to either support or oppose the listing was an
individual matter and had nothing to do with party politics.
But secretary-general of the Campaign for Popular Democracy, Suriyasai Katasila told reporters
over the weekend if Thai Rak Thai MPs sincerely supported the campaign against Thai
Beverages' listing, then they had to push for the issue to become government policy.
''If they are sincere about moral issues, they must not show selective opposition. Their move
could attract suspicion if there's any hidden agenda,'' he said.