ThaiBev’s tipsy valuation: Bloomberg gadfly

(Oct 17): Here's an anomaly: The third-largest company in the world's biggest Buddhist-majority country is ThaiBev, which makes its money selling rum and beer to a population whose religious texts exhort them to abstain from alcohol.

Fully 63% of working-age Thais are teetotallers, according to a 2007 study, and yet trailing 12-month revenues at the maker of Chang beer and Mekhong rum  have risen 53% over the past five years.

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