Monks beer protest wins

5,000 gather in Thailand after beer stock listing blocked

Mar 23, 2005 - About 5,000 people, including 500 Buddhist monks in saffron robes, celebrated at Thailand's stock exchange after successfully blocking the listing of a beer company.


The Stock Exchange of Thailand said earlier int he week that it would postpone indefinitely a decision on whether to allow the listing of Thai Beverage PCL, the country's largest beer and liquor maker. Last Friday, about 2,000 monks gathered outside the exchange to protest the proposed listing of the company, which brews top-selling Beer Chang, or "Elephant Beer."

Various social groups opposed the listing, claiming that promoting alcohol consumption is against Buddhist, Islamic and Thai beliefs.