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<span>Overview</span> </div> </a> <ul id="toc-Overview-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Beer" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Beer"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Beer</span> </div> </a> <button aria-controls="toc-Beer-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Beer subsection</span> </button> <ul id="toc-Beer-sublist" class="vector-toc-list"> <li id="toc-Chang" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Chang"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.1</span> <span>Chang</span> </div> </a> <ul id="toc-Chang-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Archa" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Archa"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.2</span> <span>Archa</span> </div> </a> <ul id="toc-Archa-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Federbräu" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Federbräu"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.3</span> <span>Federbräu</span> </div> </a> <ul id="toc-Federbräu-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Chang/Carlsberg" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Chang/Carlsberg"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.4</span> <span>Chang/Carlsberg</span> </div> </a> <ul id="toc-Chang/Carlsberg-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Saigon_and_333" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Saigon_and_333"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.5</span> <span>Saigon and 333</span> </div> </a> <ul id="toc-Saigon_and_333-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Spirits" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Spirits"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Spirits</span> </div> </a> <button aria-controls="toc-Spirits-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Spirits subsection</span> </button> <ul id="toc-Spirits-sublist" class="vector-toc-list"> <li id="toc-Production" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Production"> <div class="vector-toc-text"> <span class="vector-toc-numb">4.1</span> <span>Production</span> </div> </a> <ul id="toc-Production-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Everton-Chang" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Everton-Chang"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Everton-Chang</span> </div> </a> <ul id="toc-Everton-Chang-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Criticism_and_protest" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Criticism_and_protest"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Criticism and protest</span> </div> </a> <ul id="toc-Criticism_and_protest-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Notes" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Notes"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>Notes</span> </div> </a> <ul id="toc-Notes-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">ThaiBev</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 12 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-12" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">12 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Thai_Beverage" title="Thai Beverage – German" lang="de" hreflang="de" data-title="Thai Beverage" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Thai_Beverage" title="Thai Beverage – Spanish" lang="es" hreflang="es" data-title="Thai Beverage" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%AA%D8%A7%DB%8C%E2%80%8C%D8%A8%DB%8C%D9%88" title="تای‌بیو – Persian" lang="fa" hreflang="fa" data-title="تای‌بیو" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/ThaiBev" title="ThaiBev – French" lang="fr" hreflang="fr" data-title="ThaiBev" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%ED%83%80%EC%9D%B4_%EB%B9%84%EB%B2%84%EB%A6%AC%EC%A7%80" title="타이 비버리지 – Korean" lang="ko" hreflang="ko" data-title="타이 비버리지" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/ThaiBev" title="ThaiBev – Italian" lang="it" hreflang="it" data-title="ThaiBev" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E3%82%BF%E3%82%A4%E3%83%BB%E3%83%93%E3%83%90%E3%83%AC%E3%83%83%E3%82%B8" title="タイ・ビバレッジ – Japanese" lang="ja" hreflang="ja" data-title="タイ・ビバレッジ" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/ThaiBev" title="ThaiBev – Romanian" lang="ro" hreflang="ro" data-title="ThaiBev" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B9%84%E0%B8%97%E0%B8%A2%E0%B9%80%E0%B8%9A%E0%B8%9F%E0%B9%80%E0%B8%A7%E0%B8%AD%E0%B9%80%E0%B8%A3%E0%B8%88" title="ไทยเบฟเวอเรจ – Thai" lang="th" hreflang="th" data-title="ไทยเบฟเวอเรจ" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target"><span>ไทย</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/ThaiBev" title="ThaiBev – Ukrainian" lang="uk" hreflang="uk" data-title="ThaiBev" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li 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Unsourced material may be challenged and removed.<br /><small><span class="plainlinks"><i>Find sources:</i> <a rel="nofollow" class="external text" href="https://www.google.com/search?as_eq=wikipedia&q=%22ThaiBev%22">"ThaiBev"</a> – <a rel="nofollow" class="external text" href="https://www.google.com/search?tbm=nws&q=%22ThaiBev%22+-wikipedia&tbs=ar:1">news</a> <b>·</b> <a rel="nofollow" class="external text" href="https://www.google.com/search?&q=%22ThaiBev%22&tbs=bkt:s&tbm=bks">newspapers</a> <b>·</b> <a rel="nofollow" class="external text" href="https://www.google.com/search?tbs=bks:1&q=%22ThaiBev%22+-wikipedia">books</a> <b>·</b> <a rel="nofollow" class="external text" href="https://scholar.google.com/scholar?q=%22ThaiBev%22">scholar</a> <b>·</b> <a rel="nofollow" class="external text" href="https://www.jstor.org/action/doBasicSearch?Query=%22ThaiBev%22&acc=on&wc=on">JSTOR</a></span></small></span> <span class="date-container"><i>(<span class="date">January 2018</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <style data-mw-deduplicate="TemplateStyles:r1257001546">.mw-parser-output .infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><style data-mw-deduplicate="TemplateStyles:r1242257876">.mw-parser-output .ib-company .infobox-label{padding-right:0.5em}.mw-parser-output .ib-company .infobox-data,.mw-parser-output .ib-company .infobox-below{line-height:1.35em}.mw-parser-output .ib-company-logo img{background-color:#f8f9fa}.mw-parser-output .ib-company-locality,.mw-parser-output .ib-company-country{display:inline}</style><table class="infobox ib-company vcard"><caption class="infobox-title fn org">Thai Beverage</caption><tbody><tr><td colspan="2" class="infobox-image ib-company-logo logo"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:ThaiBevLogo.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/en/thumb/5/59/ThaiBevLogo.svg/220px-ThaiBevLogo.svg.png" decoding="async" width="220" height="92" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/5/59/ThaiBevLogo.svg/330px-ThaiBevLogo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/5/59/ThaiBevLogo.svg/440px-ThaiBevLogo.svg.png 2x" data-file-width="488" data-file-height="205" /></a></span></td></tr><tr><th scope="row" class="infobox-label">Company type</th><td class="infobox-data category"><a href="/wiki/Public_company" title="Public company">Public</a></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Ticker_symbol" title="Ticker symbol">Traded as</a></div></th><td class="infobox-data"><a href="/wiki/Singapore_Exchange" title="Singapore Exchange">SGX</a>: <a rel="nofollow" class="external text" href="https://investors.sgx.com/securities/stocks?security=Y92">Y92</a></td></tr><tr><th scope="row" class="infobox-label">Industry</th><td class="infobox-data category"><a href="/wiki/Beverage_industry" class="mw-redirect" title="Beverage industry">Beverage</a></td></tr><tr><th scope="row" class="infobox-label">Founded</th><td class="infobox-data">29 October 2003<span class="noprint">; 21 years ago</span><span style="display:none"> (<span class="bday dtstart published updated">2003-10-29</span>)</span><sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label">Founder</th><td class="infobox-data agent"><a href="/wiki/Charoen_Sirivadhanabhakdi" title="Charoen Sirivadhanabhakdi">Charoen Sirivadhanabhakdi</a></td></tr><tr><th scope="row" class="infobox-label">Headquarters</th><td class="infobox-data label"><a href="/wiki/Bangkok" title="Bangkok">Bangkok</a>, <a href="/wiki/Thailand" title="Thailand">Thailand</a></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Area served</div></th><td class="infobox-data">Worldwide</td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;">Key people</div></th><td class="infobox-data agent"><a href="/wiki/Thapana_Sirivadhanabhakdi" title="Thapana Sirivadhanabhakdi">Thapana Sirivadhanabhakdi</a><br />(President & CEO)</td></tr><tr><th scope="row" class="infobox-label">Brands</th><td class="infobox-data">Chang, Archa, Federbräu</td></tr><tr><th scope="row" class="infobox-label">Revenue</th><td class="infobox-data"><span typeof="mw:File"><span title="Decrease"><img alt="Decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/11px-Decrease2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/17px-Decrease2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/22px-Decrease2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 253.48 billion <a href="/wiki/Thai_baht" title="Thai baht">baht</a> (2020) <sup id="cite_ref-TB-AR_2020_2-0" class="reference"><a href="#cite_note-TB-AR_2020-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Net_income" title="Net income">Net income</a></div></th><td class="infobox-data"><span typeof="mw:File"><span title="Decrease"><img alt="Decrease" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/11px-Decrease2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/17px-Decrease2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ed/Decrease2.svg/22px-Decrease2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 26.06 billion baht (2020) <sup id="cite_ref-TB-AR_2020_2-1" class="reference"><a href="#cite_note-TB-AR_2020-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><span class="nowrap"><a href="/wiki/Asset" title="Asset">Total assets</a></span></th><td class="infobox-data"><span typeof="mw:File"><span title="Increase"><img alt="Increase" src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/11px-Increase2.svg.png" decoding="async" width="11" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/17px-Increase2.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Increase2.svg/22px-Increase2.svg.png 2x" data-file-width="300" data-file-height="300" /></span></span> 423.52 billion baht (2020) <sup id="cite_ref-TB-AR_2020_2-2" class="reference"><a href="#cite_note-TB-AR_2020-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup></td></tr><tr><th scope="row" class="infobox-label"><a href="/wiki/Subsidiary" title="Subsidiary">Subsidiaries</a></th><td class="infobox-data"><a href="/wiki/Fraser_and_Neave" title="Fraser and Neave">Fraser and Neave</a> <br /> <a href="/wiki/Est_Cola" title="Est Cola">Sermsuk</a> <br /> <a href="/wiki/Oishi_Group" title="Oishi Group">Oishi Group</a> <br /> InterBev Group <br /> <a href="/wiki/Inver_House_Distillers" title="Inver House Distillers">Inver House Distillers</a> <br /> <a href="/wiki/Sabeco_Brewery" title="Sabeco Brewery">Sabeco Brewery</a></td></tr><tr><th scope="row" class="infobox-label">Website</th><td class="infobox-data"><span class="url"><a rel="nofollow" class="external text" href="http://www.thaibev.com/">www<wbr />.thaibev<wbr />.com</a></span></td></tr></tbody></table> <p><b>Thai Beverage</b>, better known as <b>ThaiBev </b>(<a href="/wiki/Thai_language" title="Thai language">Thai</a>: <span lang="th">ไทยเบฟ</span>) (<a href="/wiki/Singapore_Exchange" title="Singapore Exchange">SGX</a>: <a rel="nofollow" class="external text" href="https://investors.sgx.com/securities/stocks?security=Y92">Y92</a> ), is Thailand's largest and one of <a href="/wiki/Southeast_Asia" title="Southeast Asia">Southeast Asia</a>'s largest beverage companies, with distilleries in Thailand, UK, and China. It is owned by <a href="/wiki/Thai_Chinese" title="Thai Chinese">Thai Chinese</a> billionaire business magnate <a href="/wiki/Charoen_Sirivadhanabhakdi" title="Charoen Sirivadhanabhakdi">Charoen Sirivadhanabhakdi</a>. Listed on the <a href="/wiki/Singapore_Stock_Exchange" class="mw-redirect" title="Singapore Stock Exchange">Singapore Stock Exchange</a>, <b>Thai Beverage plc</b> has a <a href="/wiki/Market_capitalization" title="Market capitalization">market capitalization</a> in excess of US$13 billion. </p><p>In 2004, the firm announced it had succeeded in a US$11.2 billion deal to take over the conglomerate <a href="/wiki/Fraser_and_Neave" title="Fraser and Neave">Fraser and Neave</a>, adding to the group's portfolio of assets.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>ThaiBev was founded on 29 October 2003 with the consolidation of 58 beer and spirits businesses, among them Chang beer, second in the beer market after Singha. ThaiBev brands include green-tea beverage <a href="/wiki/Oishi_Group" title="Oishi Group">Oishi</a> and Est, a cola. The <a href="/wiki/Sirivadhanabhakdi_family" title="Sirivadhanabhakdi family">Sirivadhanabhakdi family</a>'s stake in Thai Beverage is around 30%. Charoen is chairman and his son Thapana serves as president and CEO. Thai Beverage is listed on the Singapore stock exchange as the <a href="/wiki/Stock_Exchange_of_Thailand" title="Stock Exchange of Thailand">Stock Exchange of Thailand</a> (SET) prohibits the listing of alcohol-related stocks.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Overview">Overview</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=2" title="Edit section: Overview"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:Thapana_Sirivadhanabhakdi.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Thapana_Sirivadhanabhakdi.jpg/220px-Thapana_Sirivadhanabhakdi.jpg" decoding="async" width="220" height="303" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Thapana_Sirivadhanabhakdi.jpg/330px-Thapana_Sirivadhanabhakdi.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/b0/Thapana_Sirivadhanabhakdi.jpg/440px-Thapana_Sirivadhanabhakdi.jpg 2x" data-file-width="840" data-file-height="1155" /></a><figcaption>Thapana Sirivadhanabhakdi, president and CEO</figcaption></figure> <p><b>Thai Beverage Public Company Limited</b> owns and distributes several significant brands, including <b>Chang</b> beer, <a href="/wiki/Mekhong_(spirit)" title="Mekhong (spirit)">Mekhong</a>, and <a href="/wiki/SangSom" title="SangSom">SangSom</a> <a href="/wiki/Rum" title="Rum">rum</a>. It has significant operations in Europe, producing malt Scotch whisky, vodka, gin, and liqueurs at five distilleries in Scotland, UK. <a href="/wiki/Charoen_Sirivadhanabhakdi" title="Charoen Sirivadhanabhakdi">Charoen Sirivadhanabhakdi</a>, in early 2013, added <b><a href="/wiki/Fraser_and_Neave" title="Fraser and Neave">Fraser and Neave</a>, Limited</b>, a food and beverage, brewing, property, and publishing industries <a href="/wiki/Conglomerate_(company)" title="Conglomerate (company)">conglomerate</a> in <a href="/wiki/Singapore" title="Singapore">Singapore</a>, to his drinks and property empire.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> </p><p>Chang Beer, which started production in March 1995 at a brewery in the <a href="/wiki/Bang_Ban_District" class="mw-redirect" title="Bang Ban District">Bang Ban District</a> of <a href="/wiki/Ayutthaya_Province" class="mw-redirect" title="Ayutthaya Province">Ayutthaya Province</a>, is the top-selling brand in <a href="/wiki/Thailand" title="Thailand">Thailand</a>. It managed to win 60 percent market share in Thailand after a hard market fight with the previous leading brand, <a href="/wiki/Singha" title="Singha">Singha</a>. In 2006, the company's beer market share was 49 percent, according to research company <a href="/wiki/Canadean" class="mw-redirect" title="Canadean">Canadean</a>. </p> <div class="mw-heading mw-heading2"><h2 id="Beer">Beer</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=3" title="Edit section: Beer"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Chang_Beer_320ml.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/1/15/Chang_Beer_320ml.jpg/220px-Chang_Beer_320ml.jpg" decoding="async" width="220" height="484" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/15/Chang_Beer_320ml.jpg/330px-Chang_Beer_320ml.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/15/Chang_Beer_320ml.jpg/440px-Chang_Beer_320ml.jpg 2x" data-file-width="1142" data-file-height="2511" /></a><figcaption>New Chang Classic beer from 2015</figcaption></figure> <div class="mw-heading mw-heading3"><h3 id="Chang">Chang</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=4" title="Edit section: Chang"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">"Chang (beer)" redirects here. For the Tibetan rice beer, see <a href="/wiki/Chhaang" title="Chhaang">Chhaang</a>.</div> <p>ThaiBev brews Chang (or Chang Beer) (<a href="/wiki/Thai_language" title="Thai language">Thai</a>: <span lang="th">เบียร์ช้าง</span>), a <a href="/wiki/Pale_lager" title="Pale lager">pale lager</a>. "Chang" (<a href="/wiki/Thai_language" title="Thai language">Thai</a>: <span lang="th">ช้าง</span>) is the <a href="/wiki/Thai_language" title="Thai language">Thai</a> word for <a href="/wiki/Elephant" title="Elephant">elephant</a>, an animal of cultural and historical significance in Thailand. The logo depicts two elephants face-to-face. In 2006, the company launched Chang Light, 4.2 percent <a href="https://en.wiktionary.org/wiki/ABV" class="extiw" title="wikt:ABV">ABV</a> and Chang Draught in bottles at five percent ABV. They were discontinued in 2015.<sup id="cite_ref-2015_shakeup_6-0" class="reference"><a href="#cite_note-2015_shakeup-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p><p>In 2015, ThaiBev celebrated its <i>20th anniversary Chang Beer</i>. For this occasion, ThaiBev consolidated all Chang brands in Chang Classic. ThaiBev stopped production of Chang Light, Chang Draught, and Chang Export. In addition, the new bottle was introduced in emerald green.<sup id="cite_ref-2015_shakeup_6-1" class="reference"><a href="#cite_note-2015_shakeup-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> Production of Chang Classic is shared between ThaiBev's three breweries. The recipe was changed to include rice, previously only used in the domestic 6.4 percent version. Its ABV in Thailand is 4.8 percent (Accurate as of August 2024).<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>ThaiBev's flagship brand Chang Beer won a gold quality award three times in the beers, water, and soft drinks category at the World Quality Selections 2018, organized each year by <a href="/wiki/Monde_Selection" title="Monde Selection">Monde Selection</a>.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Archa">Archa</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=5" title="Edit section: Archa"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 2004, the company introduced Archa (<a href="/wiki/Thai_language" title="Thai language">Thai</a>: <span lang="th">อาชา</span> 'horse') beer, at 5.4 percent <a href="https://en.wiktionary.org/wiki/ABV" class="extiw" title="wikt:ABV">ABV</a>. Archa won a gold medal at the 2007 <a href="/wiki/Australian_International_Beer_Awards" title="Australian International Beer Awards">Australian International Beer Awards</a> (AIBA). The ABV was lowered to five percent in 2014. The first market outside Thailand to distribute Archa Beer was Singapore, where it was successfully launched in 2012 by InterBev (Singapore) Ltd.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Federbräu"><span id="Federbr.C3.A4u"></span>Federbräu</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=6" title="Edit section: Federbräu"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Federbräu is a German-inspired quality beer brewed using imported German malt, using only a single source of malt in the brewing process. Federbräu is five percent alcohol by volume.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Chang/Carlsberg"><span id="Chang.2FCarlsberg"></span>Chang/Carlsberg</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=7" title="Edit section: Chang/Carlsberg"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In December 2000, Carlsberg and Chang established a 50–50 joint venture, Carlsberg Asia, to create a significant brewing company in Asia.<sup id="cite_ref-carlsberggroup1_11-0" class="reference"><a href="#cite_note-carlsberggroup1-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> The Carlsberg influence can be seen in the typography of the "Beer Chang" logo, which resembles the classic "Carlsberg Beer".<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> In 2005, Carlsberg pulled out of the venture and terminated its licence agreement with Chang due to non-fulfillment of contractual obligations, resulting in Chang claiming US$2.5 billion in damages.<sup id="cite_ref-carlsberggroup1_11-1" class="reference"><a href="#cite_note-carlsberggroup1-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> A final settlement of US$120 million was subsequently paid by Carlsberg.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (February 2015)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="Saigon_and_333">Saigon and 333</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=8" title="Edit section: Saigon and 333"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>ThaiBev bought a majority of shares in <a href="/wiki/Sabeco_(brewery)" class="mw-redirect" title="Sabeco (brewery)">Sabeco</a> in 2018 for $4.8 billion US dollars. Sabeco owns leading beer brands in Vietnam including <i>Saigon Beer</i> and <i>333</i>. At the time of the acquisition, Sabeco's Vietnam market share had fallen below 40 percent.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Spirits">Spirits</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=9" title="Edit section: Spirits"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>ThaiBev produces brown and white spirits, including <a href="/wiki/Rum" title="Rum">rum</a>. </p><p>ThaiBev's most famous, but not best selling, spirit is <i>Mekhong</i>, which originated in 1941 at the Bangyikhan Distillery west of <a href="/wiki/Bangkok" title="Bangkok">Bangkok</a>. Originally a <a href="/wiki/State-owned" class="mw-redirect" title="State-owned">state-owned</a> <a href="/wiki/Distillery" class="mw-redirect" title="Distillery">distillery</a>, it dates back over 200 years to the beginning of the current <a href="/wiki/Chakri_dynasty" title="Chakri dynasty">Chakri dynasty</a>. The launch of <i>Mekhong</i> (a rum with added rice) was aimed at producing a high-quality Thai spirit to stem the increase in the import of foreign liquor and to eventually replace imported brands. <i>SangSom</i> (rum), however, has been the country's most popular spirit brand for over 29 years, until 2006 holding almost 50 percent share of the entire brown spirits market in Thailand. The company also produces Mungkorn Thong and Hong Thong and brands based on <a href="/wiki/Whisky" title="Whisky">whisky</a>, such as Blend 285, Crown 99 and Blue, Meridian a brand of <a href="/wiki/Very_Superior_Old_Pale" class="mw-redirect" title="Very Superior Old Pale">V.S.O.P.</a> <a href="/wiki/Brandy" title="Brandy">brandy</a>, as well as <a href="/wiki/Scotch_whisky" title="Scotch whisky">Scotch whisky</a> brands such as <a href="/wiki/Hankey_Bannister" title="Hankey Bannister">Hankey Banister</a> and Pinwinnie Royal Scotch Whisky. </p><p>White spirits are made from molasses without any mixture or colour, and produced in four alcohol contents: 28, 30, 35, and 40 percent. The company's largest-selling white spirits is <i>Ruang Khao</i>. The labels are colour-coded to reflect the alcoholic strength but do not have the brand name printed on them. Other brands in this category are Niyomthai and White Tiger. </p> <div class="mw-heading mw-heading3"><h3 id="Production">Production</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=10" title="Edit section: Production"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Molasses" title="Molasses">Molasses</a> are the main raw material used for the production of ThaiBev's spirits, so that most of the products fall under the category of <a href="/wiki/Rum" title="Rum">rum</a>. As is the case with all distilled spirits, the distillate is crystal clear when first distilled. Amber and dark brown spirits obtain their colour from the extracts from the oak barrel during aging and from caramel, a natural coloring agent. </p><p>ThaiBev's <a href="/wiki/Yeast" title="Yeast">yeast</a> cultures, used for fermentation, are grown in its own laboratory and propagated in a yeast propagation tank. The yeast, molasses diluted by water, steamed rice that has been sprayed with mould (to create sugar) and incubated for four days, and water are added into a fermenter and the mixture is allowed to ferment for approximately 72 hours. The liquid that is left at the end of the fermentation process is known as <i>fermented mash</i>. </p><p>Distillation takes place in a distilling column and a <a href="/wiki/Pot_still" title="Pot still">pot still</a>, which is a large copper or stainless steel kettle. Distilling involves boiling the "fermented mash" and condensing its vapour. The spent sludge remaining in the pot still is removed to be processed. The company's white spirits are then diluted with demineralized water to the desired alcohol content in a white spirits blending tank and sent to be packaged and bottled after filtering. </p><p>Brown spirits are diluted with demineralized water and then aged in oak barrels for three to eight years depending on the brand. The aged alcohol is then further diluted with demineralized water before bottling. Liquor concentrate alcohol and <a href="/wiki/Caramel_color" title="Caramel color">caramel color</a> are added. The brown spirits are passed through filters and then bottled and packaged. ThaiBev also makes <i>Chinese herb spirits</i>, branded as Chiang-Chun and Sua Dum. These are produced by blending alcohol, white spirits, sugar, caramel, and Chinese herbs, and then further diluting the mixture with demineralized water. </p> <div class="mw-heading mw-heading2"><h2 id="Everton-Chang">Everton-Chang</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=11" title="Edit section: Everton-Chang"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Fellaini,_Everton_FC.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/9/98/Fellaini%2C_Everton_FC.jpg/220px-Fellaini%2C_Everton_FC.jpg" decoding="async" width="220" height="165" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/98/Fellaini%2C_Everton_FC.jpg/330px-Fellaini%2C_Everton_FC.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/98/Fellaini%2C_Everton_FC.jpg/440px-Fellaini%2C_Everton_FC.jpg 2x" data-file-width="800" data-file-height="600" /></a><figcaption>Chang become sponsor of Everton FC</figcaption></figure> <p>In 2004, Chang became the sponsor of <a href="/wiki/Everton_F.C." title="Everton F.C.">Everton Football Club</a> of the English <a href="/wiki/FA_Premier_League" class="mw-redirect" title="FA Premier League">Premier League</a>. Together, they initiated five projects in the aftermath of the tsunami disaster in Thailand. </p><p>Following the 2004 tsunami that struck the <a href="/wiki/Khao_Lak" title="Khao Lak">Khao Lak</a> coast in <a href="/wiki/Phang_Nga_Province" class="mw-redirect" title="Phang Nga Province">Phang Nga Province</a> of Thailand and destroyed the village of <a href="/wiki/Ban_Nam_Khem" title="Ban Nam Khem">Ban Nam Khem</a>, ThaiBev and Everton sponsored the construction of 50 houses and a football field there, in a project dubbed Everton-Chang. Local youth teams compete for the Chang-Everton cup. Officials from Everton F.C. and Chang Beer have been involved in the project. Together, they sponsor Chang Everton Football Cup and send promising Thai footballers to <a href="/wiki/Liverpool" title="Liverpool">Liverpool</a> for a trial with Everton. </p> <div class="mw-heading mw-heading2"><h2 id="Criticism_and_protest">Criticism and protest</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=12" title="Edit section: Criticism and protest"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 2005, ThaiBev became the subject of nationwide criticism in Thailand by the Buddhist <a href="/wiki/Sangha" title="Sangha">monastic community</a> and other religious groups. At the time, Thai Beverage had announced its intent to list publicly on the <a href="/wiki/Stock_Exchange_of_Thailand" title="Stock Exchange of Thailand">Stock Exchange of Thailand</a> (SET), which would be the biggest listing in Thai history.<sup id="cite_ref-Hills_2005_14-0" class="reference"><a href="#cite_note-Hills_2005-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> Despite attempts by the <a href="/wiki/National_Office_of_Buddhism" title="National Office of Buddhism">National Office of Buddhism</a> (a government agency) to prohibit monks from protesting, 2,000 monks from <a href="/wiki/Wat_Phra_Dhammakaya" title="Wat Phra Dhammakaya">Wat Phra Dhammakaya</a> organized chants of Buddhist texts in front of the Stock Exchange to halt Thai Beverage's <a href="/wiki/Initial_public_offering" title="Initial public offering">IPO</a>.<sup id="cite_ref-Inbaraj_2005_16-0" class="reference"><a href="#cite_note-Inbaraj_2005-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Weekend_2005_17-0" class="reference"><a href="#cite_note-Weekend_2005-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>note 1<span class="cite-bracket">]</span></a></sup> In an unprecedented cooperative effort, the temple was joined by former <a href="/wiki/Black_May_(1992)" title="Black May (1992)">Black May</a> revolt leader <a href="/wiki/Chamlong_Srimuang" title="Chamlong Srimuang">Chamlong Srimuang</a> and the <a href="/wiki/Santi_Asoke" title="Santi Asoke">Santi Asoke</a> movement. Subsequently, another 122 religious and social organizations joined the opposition, reaching numbers of 10,000 protesters. The organizations asked Prime Minister <a href="/wiki/Thaksin_Shinawatra" title="Thaksin Shinawatra">Thaksin Shinawatra</a>'s cooperation to stop the company, in what some of the protest leaders described as "a grave threat to the health and culture" of Thai society.<sup id="cite_ref-Inbaraj_2005_16-1" class="reference"><a href="#cite_note-Inbaraj_2005-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Weekend_2005_17-2" class="reference"><a href="#cite_note-Weekend_2005-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> While SET pointed out the economic benefits of the listing, opponents referred to rising alcohol abuse in Thai society, ranking fifth in alcohol consumption according to the <a href="/wiki/UN_Food_and_Agriculture_Organization" class="mw-redirect" title="UN Food and Agriculture Organization">UN Food and Agriculture Organization</a>. Ultimately, the protests led to an indefinite postponement of the listing by the exchange.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> Thai Beverage chose to list in Singapore instead, as the Thai Stock Exchange chief resigned as a result.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=13" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239009302">.mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:1px solid var(--border-color-base,#a2a9b1);padding:0.1em;background:var(--background-color-neutral-subtle,#f8f9fa)}.mw-parser-output .portalbox-entry{display:table-row;font-size:85%;line-height:110%;height:1.9em;font-style:italic;font-weight:bold}.mw-parser-output .portalbox-image{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portalbox-link{display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle}@media(min-width:720px){.mw-parser-output .portalleft{clear:left;float:left;margin:0.5em 1em 0.5em 0}.mw-parser-output .portalright{clear:right;float:right;margin:0.5em 0 0.5em 1em}}</style><ul role="navigation" aria-label="Portals" class="noprint portalbox portalborder portalright"> <li class="portalbox-entry"><span class="portalbox-image"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Projet_bi%C3%A8re_logo_v2.png" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/c/c4/Projet_bi%C3%A8re_logo_v2.png/28px-Projet_bi%C3%A8re_logo_v2.png" decoding="async" width="28" height="28" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/c/c4/Projet_bi%C3%A8re_logo_v2.png/42px-Projet_bi%C3%A8re_logo_v2.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/c/c4/Projet_bi%C3%A8re_logo_v2.png/56px-Projet_bi%C3%A8re_logo_v2.png 2x" data-file-width="242" data-file-height="242" /></a></span></span><span class="portalbox-link"><a href="/wiki/Portal:Beer" title="Portal:Beer">Beer portal</a></span></li><li class="portalbox-entry"><span class="portalbox-image"><span class="mw-image-border noviewer" typeof="mw:File"><span><img alt="flag" src="//upload.wikimedia.org/wikipedia/commons/thumb/a/a9/Flag_of_Thailand.svg/32px-Flag_of_Thailand.svg.png" decoding="async" width="32" height="21" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/a/a9/Flag_of_Thailand.svg/48px-Flag_of_Thailand.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/a/a9/Flag_of_Thailand.svg/64px-Flag_of_Thailand.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span></span><span class="portalbox-link"><a href="/wiki/Portal:Thailand" title="Portal:Thailand">Thailand portal</a></span></li></ul> <ul><li><a href="/wiki/List_of_Thais_by_net_worth" title="List of Thais by net worth">List of Thais by net worth</a></li> <li><a href="/wiki/Thai_Chinese" title="Thai Chinese">Thai Chinese</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="Notes">Notes</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=14" title="Edit section: Notes"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text">The temple used the project name "Thai Buddhist Monks National Coordination Center".<sup id="cite_ref-Weekend_2005_17-1" class="reference"><a href="#cite_note-Weekend_2005-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=15" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239543626"><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.thaibev.com/en08/aboutus.aspx?sublv1gID=16">"About Us"</a>. <i>ThaiBev</i><span class="reference-accessdate">. Retrieved <span class="nowrap">10 August</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=ThaiBev&rft.atitle=About+Us&rft_id=http%3A%2F%2Fwww.thaibev.com%2Fen08%2Faboutus.aspx%3Fsublv1gID%3D16&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThaiBev" class="Z3988"></span></span> </li> <li id="cite_note-TB-AR_2020-2"><span class="mw-cite-backlink">^ <a href="#cite_ref-TB-AR_2020_2-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-TB-AR_2020_2-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-TB-AR_2020_2-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation book cs1"><a rel="nofollow" class="external text" href="http://thaibev.listedcompany.com/misc/AR/20210111-thaibev-ar2020-en-02.pdf"><i>ThaiBev Annual Report 2020</i></a> <span class="cs1-format">(PDF)</span>. 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Retrieved <span class="nowrap">5 January</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=ThaiBev&rft.atitle=Chang+Beer&rft_id=http%3A%2F%2Fwww.thaibev.com%2Fen08%2Fproduct.aspx%3Fsublv1gID%3D11%23tab&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThaiBev" class="Z3988"></span></span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.changbeer.com/chang-beer-wins-gold-quality-award-at-monde-selection-2018/?lang=en">"Chang Beer Wins Gold Quality Award at Monde Selection 2018"</a>. 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Archived from <a rel="nofollow" class="external text" href="http://www.nationweekend.com/weekend/20050304/web01.shtml">the original</a> on 1 December 2016<span class="reference-accessdate">. Retrieved <span class="nowrap">28 November</span> 2016</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Nation+Weekend&rft.atitle=%E0%B8%82%E0%B8%9A%E0%B8%A7%E0%B8%99%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B8%95%E0%B9%89%E0%B8%B2%E0%B8%99%E0%B8%99%E0%B9%89%E0%B8%B3%E0%B9%80%E0%B8%A1%E0%B8%B2+%E0%B8%A3%E0%B9%89%E0%B8%AD%E0%B8%A2%E0%B8%9A%E0%B8%B8%E0%B8%9B%E0%B8%9C%E0%B8%B2%E0%B8%9A%E0%B8%B2%E0%B8%99%E0%B8%9E%E0%B8%A3%E0%B9%89%E0%B8%AD%E0%B8%A1%E0%B8%9E%E0%B8%A3%E0%B8%B1%E0%B8%81+%E0%B8%A3%E0%B9%89%E0%B8%AD%E0%B8%A2%E0%B8%AA%E0%B8%B3%E0%B8%99%E0%B8%B1%E0%B8%81%E0%B8%9B%E0%B8%A3%E0%B8%B0%E0%B8%8A%E0%B8%B1%E0%B8%99%E0%B9%80%E0%B8%9E%E0%B8%B7%E0%B9%88%E0%B8%AD%E0%B9%83%E0%B8%84%E0%B8%A3%3F&rft.date=2005-03-04&rft_id=http%3A%2F%2Fwww.nationweekend.com%2Fweekend%2F20050304%2Fweb01.shtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThaiBev" class="Z3988"></span></span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://www.aparchive.com/metadata/youtube/bac9ced135a9b2a99d9d55e13bd91590">"Buddhists protest beer company's launch on stock exchange"</a>. <a href="/wiki/Associated_Press" title="Associated Press">Associated Press</a>. 20 July 2005<span class="reference-accessdate">. Retrieved <span class="nowrap">9 July</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Buddhists+protest+beer+company%27s+launch+on+stock+exchange&rft.date=2005-07-20&rft_id=http%3A%2F%2Fwww.aparchive.com%2Fmetadata%2Fyoutube%2Fbac9ced135a9b2a99d9d55e13bd91590&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThaiBev" class="Z3988"></span></span> </li> <li id="cite_note-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-20">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://news.bbc.co.uk/2/hi/business/4374889.stm">"Protests 'halt' Thai beer listing"</a>. <i><a href="/wiki/BBC" title="BBC">BBC</a></i>. 23 March 2005<span class="reference-accessdate">. Retrieved <span class="nowrap">29 November</span> 2016</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=BBC&rft.atitle=Protests+%27halt%27+Thai+beer+listing&rft.date=2005-03-23&rft_id=http%3A%2F%2Fnews.bbc.co.uk%2F2%2Fhi%2Fbusiness%2F4374889.stm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThaiBev" class="Z3988"></span></span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://www.buddhistchannel.tv/index.php?id=52,1462,0,0,1,0#.WDzZmdUrK72">"5,000 Buddhists protest against listing breweries on Thai exchange"</a>. <i><a href="/wiki/Today_Online" class="mw-redirect" title="Today Online">Today Online</a></i>. <a href="/wiki/Agence_France-Presse" title="Agence France-Presse">Agence France-Presse</a>. 20 July 2005<span class="reference-accessdate">. Retrieved <span class="nowrap">29 November</span> 2016</span> – via The Buddhist Channel.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Today+Online&rft.atitle=5%2C000+Buddhists+protest+against+listing+breweries+on+Thai+exchange&rft.date=2005-07-20&rft_id=http%3A%2F%2Fwww.buddhistchannel.tv%2Findex.php%3Fid%3D52%2C1462%2C0%2C0%2C1%2C0%23.WDzZmdUrK72&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThaiBev" class="Z3988"></span></span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKazmin2006" class="citation news cs1">Kazmin, Amy (4 January 2006). <a rel="nofollow" class="external text" href="https://www.ft.com/cms/s/0/d2f0e546-7cc6-11da-936a-0000779e2340.html">"Thai Beverage listing moves to Singapore"</a>. <i><a href="/wiki/The_Financial_Times" class="mw-redirect" title="The Financial Times">The Financial Times</a></i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Financial+Times&rft.atitle=Thai+Beverage+listing+moves+to+Singapore&rft.date=2006-01-04&rft.aulast=Kazmin&rft.aufirst=Amy&rft_id=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fd2f0e546-7cc6-11da-936a-0000779e2340.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThaiBev" class="Z3988"></span><sup class="noprint Inline-Template"><span style="white-space: nowrap;">[<i><a href="/wiki/Wikipedia:Link_rot" title="Wikipedia:Link rot"><span title=" Dead link tagged February 2024">dead link</span></a></i><span style="visibility:hidden; color:transparent; padding-left:2px">‍</span>]</span></sup></span> </li> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://dealbook.nytimes.com/2006/05/25/thai-bourse-chief-quits-after-losing-ipo-to-rival/">"Thai Bourse Chief Quits After Losing I.P.O. to a Rival"</a>. <i><a href="/wiki/Financial_Times" title="Financial Times">Financial Times</a></i>. 25 May 2006<span class="reference-accessdate">. Retrieved <span class="nowrap">29 November</span> 2016</span> – via <a href="/wiki/New_York_Times" class="mw-redirect" title="New York Times">New York Times</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Financial+Times&rft.atitle=Thai+Bourse+Chief+Quits+After+Losing+I.P.O.+to+a+Rival&rft.date=2006-05-25&rft_id=https%3A%2F%2Fdealbook.nytimes.com%2F2006%2F05%2F25%2Fthai-bourse-chief-quits-after-losing-ipo-to-rival%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AThaiBev" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=ThaiBev&action=edit&section=16" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><span class="official-website"><span class="url"><a rel="nofollow" class="external text" href="http://www.thaibev.com/">Official website</a></span></span></li> <li><a rel="nofollow" class="external text" href="http://www.changbeer.com/">Chang Beer Homepage</a></li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20080921000339/http://www.changbeerstore.com/">Chang Beer Official Online Store</a></li> <li><a rel="nofollow" class="external text" href="http://www.ratebeer.com/brewers/thai-beverages/391/">Thai Beverage</a> on <a href="/wiki/RateBeer" class="mw-redirect" title="RateBeer">RateBeer</a></li></ul> <div class="navbox-styles"><style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline 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.navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:FTSE_STI_constituents" title="Template:FTSE STI constituents"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:FTSE_STI_constituents" title="Template talk:FTSE STI constituents"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:FTSE_STI_constituents" title="Special:EditPage/Template:FTSE STI constituents"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="23x15px&#124;border_&#124;alt=Singapore&#124;link=Singapore_Selected_FTSE_STI_companies_of_Singapore" style="font-size:114%;margin:0 4em"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><a href="/wiki/Singapore" title="Singapore"><img alt="Singapore" src="//upload.wikimedia.org/wikipedia/commons/thumb/4/48/Flag_of_Singapore.svg/23px-Flag_of_Singapore.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/48/Flag_of_Singapore.svg/35px-Flag_of_Singapore.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/48/Flag_of_Singapore.svg/45px-Flag_of_Singapore.svg.png 2x" data-file-width="900" data-file-height="600" /></a></span></span> Selected <a href="/wiki/Straits_Times_Index" title="Straits Times Index">FTSE STI</a> companies of <a href="/wiki/Singapore" title="Singapore">Singapore</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Current</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/CapitaLand#Group_structure" title="CapitaLand">CapitaLand (Integrated Commercial Trust * Investment)</a></li> <li><a href="/wiki/City_Developments_Limited" title="City Developments Limited">City Developments</a></li> <li><a href="/wiki/ComfortDelGro" title="ComfortDelGro">ComfortDelGro</a></li> <li><a href="/wiki/DFI_Retail_Group" title="DFI Retail Group">Dairy Farm International Holdings</a></li> <li><a href="/wiki/DBS_Bank" title="DBS Bank">DBS Group</a></li> <li><a href="/wiki/Frasers_Property" title="Frasers Property">Frasers Logistics & Commercial Trust</a></li> <li><a href="/wiki/Genting_Singapore" title="Genting Singapore">Genting Singapore</a></li> <li><a href="/wiki/Hongkong_Land" title="Hongkong Land">Hongkong Land</a></li> <li><a href="/wiki/Jardine_Cycle_%26_Carriage" title="Jardine Cycle & Carriage">Jardine Cycle & Carriage</a></li> <li><a href="/wiki/Jardines_(company)" title="Jardines (company)">Jardines</a></li> <li><a href="/wiki/Keppel_Corporation" class="mw-redirect" title="Keppel Corporation">Keppel Corp - Keppel DC REIT</a></li> <li><a href="/wiki/Mapletree_Investments" title="Mapletree Investments">Mapletree (Commercial Trust * Industrial Trust * Logistics Trust)</a></li> <li><a href="/wiki/OCBC_Bank" title="OCBC Bank">OCBC Bank</a></li> <li><a href="/wiki/SATS_(company)" title="SATS (company)">SATS</a></li> <li><a href="/wiki/Sembcorp" title="Sembcorp">Sembcorp</a></li> <li><a href="/wiki/Singapore_Airlines" title="Singapore Airlines">Singapore Airlines</a></li> <li><a href="/wiki/Singapore_Exchange" title="Singapore Exchange">Singapore Exchange</a></li> <li><a href="/wiki/ST_Engineering" title="ST Engineering">ST Engineering</a></li> <li><a href="/wiki/Singtel" title="Singtel">Singapore Telecommunications</a></li> <li><a class="mw-selflink selflink">Thai Beverages</a></li> <li><a href="/wiki/United_Overseas_Bank" title="United Overseas Bank">United Overseas Bank</a></li> <li><a href="/wiki/UOL_Group" title="UOL Group">UOL Group</a></li> <li><a href="/wiki/Wilmar_International" title="Wilmar International">Wilmar International</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Previous</th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/CapitaLand" title="CapitaLand">CapitaLand</a></li> <li><a href="/wiki/CapitaLand#Group_structure" title="CapitaLand">CapitaCom Trust</a></li> <li><a href="/wiki/Golden_Agri-Resources" title="Golden Agri-Resources">Golden Agri-Resources</a></li> <li><a href="/wiki/Hutchison_Port_Holdings" title="Hutchison Port Holdings">Hutchison Port Holdings</a></li> <li><a href="/wiki/Jardine_Strategic_Holdings" title="Jardine Strategic Holdings">Jardine Strategic Holdings</a></li> <li><a href="/wiki/Noble_Group" title="Noble Group">Noble Group</a></li> <li><a href="/wiki/Seatrium" title="Seatrium">Seatrium</a></li> <li><a href="/wiki/SIA_Engineering_Company" title="SIA Engineering Company">SIA Engineering</a></li> <li><a href="/wiki/StarHub" title="StarHub">StarHub</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div><i>correct as of 3 January 2022</i></div></td></tr></tbody></table></div> <div class="navbox-styles"><link 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