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Published on August 30, 2007

This is a part of the SET's effort to pave the way for the dual listing of Thai Beverage, the Chang Beer brewer. Vichate Tantiwanich, executive vice president of the SET, said yesterday that if the new law was approved, Thai Beverage could immediately go ahead with the listing plan."Thai Beverage is ready to list on the Thai stock market if the National Legislative Assembly passes the law," he said.

Thai Beverage listed on the Singapore Exchange last year after its plan to list on the Thai stock market was delayed. The Securities and Exchange Commission (SEC) board of directors said that permission for alcohol firms to list on the SET would be considered only following the implementation of the alcohol control law.

Thai Beverage's initial public offering was Singapore's biggest in more than a decade, second only to Singapore Telecommunications, Southeast Asia's largest phone firm, which was listed in October 1993.

Vichate believes that if Thai Beverage can seek dual listing on the Thai stock market within this year, it would help boost market sentiment.

Commenting on strong anti-alcohol protests that resulted in the SEC's decision, he said he was not concerned because the excise tax hike on liquor, and advertising controls, would lower the pressure.

Siriporn Chanjindamanee

 The Nation