21 Jun 2007

Thai Beverage

泰国国王
------------------------------------------------------------------------------------------------
Thai Beverage

谁的公司?

On July 5, 2007,

Mr. Charoen Sirivadhanabhakdi (chairman) and Khunying Wanna Sirivadhanabhakdi (vice chairman) and family members own more than 64%, and they are still buying through GC (singapore).


CDP owns ~25%





Charoen Sirivadhanabhakdi family:

15,703,050,000shares
4,082,793,000S$
2,721,862,000US$ (82% of his 3.3billion family asset)

赢利

2006



EPS = 0.42 Baht

DIVIDEND = 0.24 Baht full year

PRICE = 0.265 SGD

-----------------------------------------------------------------------------------------------

1 Baht = 0.048 SGD July 5 2007

PE = 0.265/(0.42*0.048) ~13

Yield ~3%
-----------------------------------------------------------------------------------------------

Price





Currency Ratio: SGD v.s. Thabt








2007 Aug 7:
TRIS Rating Views No Immediate Impacts on ThaiBev’s Ratings After Potential Excise Tax Hikes
Friday, 6 July 2007 15:20

TRIS Rating Co., Ltd. today announces that the Cabinet approval in principle to adjust maximum excise tax on alcoholic beverage does not immediately affect the ratings and outlook of Thai Beverage PLC (ThaiBev). The rating agency says currently it is too early to evaluate the full impacts of potential excise tax increase on the consumption of alcoholic drinks.
The remark is a response to the resolution passed by the Cabinet on 3 July 2007 to raise ceiling for the excise tax rate to 90% of the ex-distillery price or Bt1,000 per litre of pure alcohol, whichever is higher. The current tax ceiling is 50% or Bt400 per litre of pure alcohol for distilled liquor and 60% of the ex-refinery price or Bt100 per litre of pure alcohol for fermented alcoholic beverage. Currently, ThaiBev is charged an excise tax at 55% of ex-factory price for beer and Bt400 per litre of pure alcohol for color spirits.
However, TRIS Rating expresses concern over the newly revised Spirits Act should it become law and the Cabinet decide to raise the excise rates. Producers will likely pass on tax expense to consumers, leading to higher spirits and beer prices, which will subsequently hurt the consumption and sales volume of alcoholic drinks.
TRIS Rating adds that the actual rise in excise tax will consequently impact sales or margins of alcoholic beverage producers, like ThaiBev, and thus it will pay close attention to any government’s actions that may significantly impact ThaiBev’s financial profile.
ThaiBev, a leading producer of beer and spirits in Thailand, is currently assigned “AA-” company and guaranteed issue ratings with “stable” outlook by TRIS Rating.
TRISRating Co., Ltd. (TRISRating)
Tel: 66 (0) 2231-3011 Ext. 500, Fax: 66 (0) 2231-3012
E-mail: rapee@tris.co.th
2007 Aug 7:
Stock Market
2003-03-26 14:14:44+00

Thai Liquor Tycoon plans combo Share Sale

“Khun Charoen” plans to combine his brewery and liquor businesses and raise as much as US$701 million in share sales Thailand’s legendary liquor tycoon, Khun Charoen Sirivadhanabhakdi, has announced plans to combine his brewery and distillery businesses in order to raise as much as 30 billion baht (US$701 million) by a share sale.

Khun Charoen is one of Thailand’s wealthiest individuals and also owns the Imperial Hotel Group. His influence extends deeply into the government as it is said that he is close to Prime Minister Thaksin Shinawatra. Therefore, he pretty much dictates the government’s alcohol taxation policies.

Khun Charoen operates Thailand’s biggest brewery, Beer Thai, and the Sang Som Group, Thailand’s biggest distillery. Thailand is one of the few remaining nations which still favors cheap, hard whiskey rather than more moderate beverages.
The share sale this year would be the biggest initial public offering in Thailand since PTT PCL, the leading energy company, raised US$734 million in 2001.
Many analysts remained skeptical over the proposed offering. Some said they would have to compare it to other Asian breweries such as Asia Pacific Breweries, which is 38 percent owned by Fraser Neave Ltd of Singapore, and now trading at 13.5 times estimated earnings or San Miguel, whose stock has fallen 3.3 percent this year.
Many analysts thought Khun Charoen’s plans seemed grandiose. They noted that even if the free float is 40 percent, the market capitalization will be 75 billion baht, which would put the new company’s market value close to that of Bangkok Bank PCL, Thailand’s biggest lender. Many analysts say that’s too much.
It could be that Khun Charoen’s vision is marred by a lack of international experience and insight. The narrow focus of many Thai businessmen is well documented, including that of the current businessman-turned politician Thaksin Shinawatra.
For example, Charoen’s Chang beer captured the Thai beer market through low pricing and the high-pressure tactics of his sales force during the height of the country’s financial crisis. However, his beer has failed to make an impression in overseas markets and rival Boon Rawd Brewery’s Singha beer still represents “Thai beer” to the rest of the world.
Apparently Khun Caroen can buy Thailand but perhaps not the rest of the planet.

31 comments:

tolitoqi said...

Will Charoen take a leaf from Thaksin?
10 January 2006
http://www.nationmultimedia.com/
Liquor tycoon Charoen Sirivadhanabhakdi is a merchant in the strictest sense. He would like to list his liquor, beer and beverage business on the Thai stock market. If listed, the market capitalisation of Thai Beverage Plc would amount to Bt200-Bt300 billion.

But dark politics are opposed to Charoen and his popular Chang Beer.

Chamlong Srimuang, the former leader of the Palang Dharma Party, has succeeded in scaring off the exchange authorities with tens of thousands of protestors in the street every time the exchange board takes up the listing application of Chang beer. He and others of the anti-Chang coalition said that if Charoen’s business were to be listed, it would send a wrong signal to the Thai public, amounting to promotion of alcoholic consumption in this Buddhist society.

Never mind that Thailand is already liberalising the alcoholic beverage market by reducing tariff barriers and promoting further investment. Never mind that on every corner of every street, you can easily buy a bottle of beer or whisky.

So Charoen has threatened to take Chang beer all the way to the Singapore stock market. His straightforward thinking is: If you don’t want me here, I’ll go somewhere else.

Now Kittiratt Na Ranong, the president of the Stock Exchange of Thailand, is turning panicky. The other day, he came out to appeal to Thai Beverage to reconsider listing on the Thai stock market instead. He felt disappointed that beverage behemoth’s listing in Singapore would deprive the Thai market of a big blue-chip company just as the exchange is looking forward to building up its size to further attract investors. Besides, brokerage fees generated from stock transactions of Beer Chang would be worth Bt500 million a year.
But what has the Thai exchange been doing over the past two years?

Thai Beverage has been restructuring its business in preparation for the listing for all this time, but its application has been delayed time after time by the SET. Nobody dares to make a decision for fear of political pressure.

Finance Minister Thanong Bidaya has given a strong signal that he would like Thai Beverage to list on the Thai exchange. But if the company decides to go to Singapore, he won’t be able to do anything about it. Thanong, too, is helpless in this situation.

Dr Somkid Jatusripitak, Thanong’s predecessor, would like to promote the listing, but he is out of the picture now as he is commerce minister.

Thirachai Bhuvanat-naranubala, secretary-general of the Securities and Exchange Commission, has played along with a game of no hurry, waiting for the final decision on regulations covering the listing of such sin businesses as liquor.

So what is the position of Prime Minister Thaksin Shinawatra on this delicate issue?

Thaksin has never made his position clear. Chamlong’s protest against Chang Beer amounts to an attempt to send a signal to the prime minister that he still has some political clout. His Dharmmkaya Sect provides the shock troops for Chamlong to take to the streets.

In Thailand, there are now three powerful business groups: Shin Corp of the Shinawatra family, Thai Beverage of Charoen and the Charoen Pokphand Group of Dhanin Chearavanont.

Dhanin knows how to get along with Thaksin to further advance the business interests of his CP empire. But Charoen does not seem able to cut a deal with Thaksin yet. In fact, Thaksin should be afraid of Charoen, whose net worth amounts to several billion US dollars.

If Charoen were to give out Bt5 billion, he could easily set up a new political party or support any existing political party. This is a scenario that Thaksin does not want to see.

But didn’t Thaksin get into politics in order to protect his telecom business in the first place?

And why wouldn’t Charoen do likewise if his business gets the squeeze from politics?

We have to keep on watching further developments of Charoen’s strategy as he is ready now to pass on his business to his children.

tolitoqi said...

THAILAND: Probe into Thai Beverage beer pricing (report)
6 July 2007 | Source: just-drinks.com editorial team

Article summary:
The Thai Ministry of Commerce has initiated an official investigation into allegations that drinks group Thai Beverage has been selling its standard beer brands below the regulatory floor price, according to a report in the Thai newspaper Krungthep Turakij.

Anonymous said...

viva viagra viagra rrp australia cost buy online viagra videos viagra online viagra cheapest uk supplier viagra viagra attorneys buy cheap viagra online how long does viagra last negative effects of viagra generic viagra india viagra overdose buy viagra in london england videos viagra

Anonymous said...

[B]NZBsRus.com[/B]
Dismiss Slow Downloads With NZB Files You Can Hastily Find HD Movies, PC Games, MP3 Singles, Software & Download Them @ Rapid Speeds

[URL=http://www.nzbsrus.com][B]NZB[/B][/URL]

Anonymous said...

Yes undoubtedly, in some moments I can say that I acquiesce in with you, but you may be in the light of other options.
to the article there is stationary a without question as you did in the decrease issue of this demand www.google.com/ie?as_q=plato dvd copy 7.70 ?
I noticed the catch-phrase you have in the offing not used. Or you functioning the dark methods of promotion of the resource. I have a week and do necheg

Anonymous said...

Modify the savage with two backs casinos? jog wide this advanced [url=http://www.realcazinoz.com]casino[/url] pilot and toady to online casino games like slots, blackjack, roulette, baccarat and more at www.realcazinoz.com .
you can also scan our untrained [url=http://freecasinogames2010.webs.com]casino[/url] orientate at http://freecasinogames2010.webs.com and success chief fabulously touched in the headmaster !
another all the provoke [url=http://www.ttittancasino.com]casino spiele[/url] conspire is www.ttittancasino.com , pro german gamblers, manipulate tailored manumitted online casino bonus.

Anonymous said...

auto audio harness met809220 [url=http://www.cardvdplanet.com/7-inch-car-monitor-dvd-player-with--discount-price3.html]d mercedes benz reviews auto extended warranty car audio and[/url] belson dvd auto dvd player http://www.cardvdplanet.com/5-0-inch-tft-lcd-with--discount-price96.html auto audio advice
racing car audio [url=http://www.cardvdplanet.com/9-inch-portable-dvd-player-support-tv--discount-price100.html]hyundai car audio system[/url] auto audio for sale http://www.cardvdplanet.com/10-4-inch-touchscreen-lcd-with-vga-cd079--discount-price82.html honda car audio code
absolute auto audio syracuse [url=http://www.cardvdplanet.com/car-radio-with-usb-sd-mmc-card-discount-price115.html]ipod touch auto audio cable[/url] beststuff fuel car dvd ipod vacation houseboat lake powell http://www.cardvdplanet.com/ adjusting a pioneer auto dvd

Anonymous said...

prepositor quondam hat this without realize or bail [url=http://www.casinoapart.com]casino[/url] supernumerary at the incomparable [url=http://www.casinoapart.com]online casino[/url] on beforehand sign with 10's of elegant [url=http://www.casinoapart.com]online casinos[/url]. old folks' [url=http://www.casinoapart.com/articles/play-roulette.html]roulette[/url], [url=http://www.casinoapart.com/articles/play-slots.html]slots[/url] and [url=http://www.casinoapart.com/articles/play-baccarat.html]baccarat[/url] at this [url=http://www.casinoapart.com/articles/no-deposit-casinos.html]no forbear casino[/url] , www.casinoapart.com
the finest [url=http://de.casinoapart.com]casino[/url] to UK, german and all entire more all at once the world. so in behalf of the cork [url=http://es.casinoapart.com]casino en linea[/url] corroborate us now.

Anonymous said...

muscle pulse generator [url=http://usadrugstoretoday.com/categories/general-de-salud.htm]general de salud[/url] sell muscle cars to saudi http://usadrugstoretoday.com/products/cordarone.htm vetrinar medicine schools http://usadrugstoretoday.com/products/astelin.htm
cherokee county mental health clinic [url=http://usadrugstoretoday.com/products/phosphatidylserine.htm]phosphatidylserine[/url] free video orgasm techniques [url=http://usadrugstoretoday.com/products/menosan.htm]half blood prince trailer release date[/url]

Anonymous said...

http://rxmeds.in/ezetimibe
[url=http://rxmeds.in/hyzaar/is-there-a-generic-for-hyzaar]cholesteral drugs[/url] why pharmaceutical drugs are harmful [url=http://rxmeds.in/prilosec/proctor-gamble-prilosec]proctor gamble prilosec[/url]
drug addicted related movies http://rxmeds.in/fda/cebr-fda
[url=http://rxmeds.in/aceon/acetazolamide-250-mg]cieh advanced cert health and safety[/url] what is pc in medicine [url=http://rxmeds.in/abilify/abilify-package-insert]abilify package insert[/url]
drug testing invasion of privacy http://rxmeds.in/ezetimibe/vytorin-ezetimibe-candida-yeast-side-effects
[url=http://rxmeds.in/cyclophosphamide/cyclophosphamide-handling-precautions]generic levitra cheap[/url] us presciption cialis [url=http://rxmeds.in/accutane/accutane-for-acne]accutane for acne[/url] precursory drug sentence in mississippi [url=http://rxmeds.in/acomplia/side-effects-actoplus-met]side effects actoplus met[/url]

Anonymous said...

http://online-health.in/azithromycin/azithromycin-macs
[url=http://online-health.in/biaxin/levaquin-with-biaxin]drug treatment program for teenagers[/url] actress levitra commercial [url=http://online-health.in/arrhythmias/sinus-arrhythmias]sinus arrhythmias[/url]
discount pet drugs supplies http://online-health.in/arrhythmias/sinus-arrhythmias
[url=http://online-health.in/avapro/avapro-vs-benicar]urine clinical drug tests[/url] internal medicine bend oregon [url=http://online-health.in/angina/printzmetal-angina]printzmetal angina[/url]
viagra in the waters karaoke http://online-health.in/antibiotics/surgical-improvement-care-project-and-post-operative-antibiotics
[url=http://online-health.in/angina/angina-pectoris-signs-and-symptoms]best anti anxiety drug[/url] diazepam drug strengths [url=http://online-health.in/antifungal/naturopathic-antifungal-remedies]naturopathic antifungal remedies[/url] cvs pharmacy on burke and fairmont in pasadena texas [url=http://online-health.in/atorvastatin/what-is-the-difference-between-lipitor-and-atorvastatin]what is the difference between lipitor and atorvastatin[/url]

Anonymous said...

http://xws.in/disopyramide/controlled-release-coated-pellets-capsule-disopyramide
[url=http://xws.in/emsam/emsam-is-it-dangerous]drug free poems for red ribbon week[/url] crystal structure drug soak [url=http://xws.in/enhancement]enhancement[/url]
why do college students use drugs http://xws.in/allergic/allergic-reaction-to-tylenol-in-toddlers
[url=http://xws.in/aciphex/aciphex-oral-infants]tere pharmacy[/url] osco drug store [url=http://xws.in/erectile/erectile-dysfunction-aids-toys]erectile dysfunction aids toys[/url]
history of drug laws in new york http://xws.in/enhancement/oil-enhancement-technology
[url=http://xws.in/acomplia/sanofi-aventis-acomplia]pharmacy india viagra cialis[/url] hypertension drug list [url=http://xws.in/elavil/elavil-used-for]elavil used for[/url] substances to alter drug screens [url=http://xws.in/edema/edema-nutricional]edema nutricional[/url]

Anonymous said...

south dakota travel and tourism http://atravel.in/tour_george-strait-2007-tour-schedule aa south africa recommended travel allowance
[url=http://atravel.in/car-rental_discount-car-rental-ontario-htm]dakota etched travel alarm[/url] delta frequent travel pass [url=http://atravel.in/airlines_south-africa-nationwide-airlines]south africa nationwide airlines[/url]
travel with us http://atravel.in/car-rental_convertible-car-rental-jacksonville
[url=http://atravel.in/cruises_dawn-chavis-cruises-travel-time]indianapolis international airport carry on travel guidelines[/url] travel agent in kuching [url=http://atravel.in/plane-tickets_seiour-plane-tickets]seiour plane tickets[/url]
international travel news http://atravel.in/tour_keno-brother-tour beeswax travel tins [url=http://atravel.in/lufthansa_boeing-p26]boeing p26[/url]

Anonymous said...

apba boat racing http://autoexpress.in/royce/picnic/table/rolls/royce/corniche orangeville autohaus volkswagen
[url=http://autoexpress.in/maybach/maybach/rental/in/ohio]racing go cart kits[/url] tata nano automobile [url=http://autoexpress.in/buell/emaline/buell/polk/county/oregon]emaline buell polk county oregon[/url]
automobile art and posters http://autoexpress.in/oldsmobile/how/rare/is/oldsmobile/final/500
[url=http://autoexpress.in/maybach/maybach/is/a/classic/using]barret jackson automobile auctions[/url] custom auto restoration [url=http://autoexpress.in/scooter/kymco/500cc/scooter]kymco 500cc scooter[/url]
gm auto radio http://autoexpress.in/scooters/ztreme/toyz/scooters
[url=http://autoexpress.in/scooters/using/scooters/in/ontario]canadian automobile mileage reimbursement rate 2008[/url] find denver used auto [url=http://autoexpress.in/porsche/ae/porsche/intercooler]ae porsche intercooler[/url]

Anonymous said...

lymphedema and air travel http://atravel.in/travel_payson-travel travel airports map
[url=http://atravel.in/lufthansa_boeing-757-200]ski vail travel agent[/url] travel chaperone [url=http://atravel.in/flight_flight-plan-acromnems]flight plan acromnems[/url]
travel hotels http://atravel.in/flight_warrant-officer-flight-training-program
[url=http://atravel.in/airport_hartsfield-airport-atlanta-georgia]hollywood ca travel[/url] air travel deals to columbus [url=http://atravel.in/tourist]tourist[/url]
time travel john hamilton http://atravel.in/cruise_italy-and-greece-cruise-tours innsbrook travel trailer [url=http://atravel.in/travel_liberty-travel-and-85018]liberty travel and 85018[/url]

Anonymous said...

auto diagnositcs louisville ky http://latestcarnews.in/saleen/upgrades-on-04-saleen contra costa county auto auction
[url=http://latestcarnews.in/lexus/lexus-idles-bad]online auto insurance companies[/url] local dodge dealer [url=http://latestcarnews.in/opel/opel-zafira-fahrtlicht]opel zafira fahrtlicht[/url]
automobile insurance in illonois http://latestcarnews.in/lamborghini
[url=http://latestcarnews.in/triumph/oral-b-braun-triumph-professional-care]depreciation automobile damages[/url] mercedes benz ln03 [url=http://latestcarnews.in/lexus]lexus[/url]
automobile paint sales http://latestcarnews.in/supermoto/supermoto-standings-carey-hart
[url=http://latestcarnews.in/opel/opel-turkey]volkswagen a1 gti harness roll bar[/url] auto erotic asphyxia [url=http://latestcarnews.in/plymouth/map-plymouth]map plymouth[/url]

Anonymous said...

money concerns peru travel http://wikitravel.in/map/street-map-of-central-paris travel agents in langley park md maryland
[url=http://wikitravel.in/expedia/expedia-elite]travel jobs in europe for polysomnographer[/url] travel suitecases allowed [url=http://wikitravel.in/tourism/global-warming-and-the-tourism-industry]global warming and the tourism industry[/url]
travel agencies in france http://wikitravel.in/map/street-map-of-central-paris
[url=http://wikitravel.in/tourist/shieldaig-tourist-information]winterizing scamp travel trailers[/url] insta set travel alarm clocks [url=http://wikitravel.in/cruises/guided-danube-river-cruises]guided danube river cruises[/url]
travel photgraphers education and salary http://wikitravel.in/disneyland/disneyland-paris-3children-under-12-june-08-bargains travel insurance and diabetes and ireland or eire [url=http://wikitravel.in/hotel/book-online-hotel-motel-in-tn]book online hotel motel in tn[/url]

Anonymous said...

chanel trademark infringement lawsuits by chanel http://topcitystyle.com/ed-hardy-tiger-boxers-for-men-black-item1402.html directions for washing clothes [url=http://topcitystyle.com/long-sleeve-tops-page10.html]mod clothes[/url] clarks england shoes
http://topcitystyle.com/orange-dresses-color121.html victorian fashion [url=http://topcitystyle.com/36-shoes-size14.html]professional interior designers in dublin[/url]

Anonymous said...

cool baby clothes http://topcitystyle.com/smiley-world-leather-bags-tote-purses-brand103.html unique shoes [url=http://topcitystyle.com/black-gold-sport-color204.html]adaptive clothes for children[/url] bridal designers
http://topcitystyle.com/white-grey-new-color26.html anne klein jeans [url=http://topcitystyle.com/de-puta-madre-69-casual-brand15.html]ladies shoes china[/url]

Anonymous said...

what fashion house designed the infamous dress that jennifer lopez rocked on the red carpet http://topcitystyle.com/ed-hardy-pants-brand39.html wide width sexy shoes [url=http://topcitystyle.com/-v-neck-roberto-cavalli-category91.html]new york lernerclothes[/url] scareface clothes
http://topcitystyle.com/black-multicolored-dresses-color20.html the service did not respond in a timely fashion [url=http://topcitystyle.com/32-gucci-size13.html]china cheap jordans and clothes online[/url]

Anonymous said...

johnny blaze clothes europe http://topcitystyle.com/?action=products&product_id=2347 clothes of cowboys [url=http://topcitystyle.com/white-round-neck-color4.html]magazine spring fashion ecko show model girls runway red clothing[/url] myspace fashion layouts
http://topcitystyle.com/-leather-bags-tote-purses-accessories-category39.html mike majic shoes racing [url=http://topcitystyle.com/black-grey-armani-color24.html]candyies shoes[/url]

Anonymous said...

dialing from uae to malaysia mobile http://www.orderphonetoday.com/tianxing-c1000-quad-band-dual-card-with--item38.html free mobile video player for nokia s60 series [url=http://www.orderphonetoday.com/f68-quad-band-dual-card-with-analog-tv-java--item88.html]mobile county public records[/url] t mobile wing theme

Anonymous said...

multiplex cinemax movie [url=http://full-length-movies.com/dvd-quality-movie-iron-man/3973database/]Iron Man[/url] movie theate popcorn supplies [url=http://full-length-movies.com/dvd-quality-movie-beautiful-joe/11081database/]Beautiful Joe[/url]
nana movie trailer [url=http://worldmovs.co.cc/full_version-el-sedor-de-los-anillos---la-comunidad-del-anillo--version-extendida-/22904database/]El Sedor De Los Anillos - La Comunidad Del Anillo (Version Extendida)[/url] springfield movie pages [url=http://full-length-movies.com/dvd-quality-movie-origin/4331database/]Origin[/url]
free movie collection software [url=http://full-length-movies.com/dvd-quality-movie-margot-at-the-wedding/13359database/]Margot at the Wedding[/url] treasure planet movie screen shots [url=http://full-length-movies.com/dvd-quality-movie-playboy-sexy-movie/7293database/]PlayBoy Sexy Movie[/url]
movie slingblade character [url=http://full-length-movies.com/dvd-quality-movie-dave-matthews-and-tim-reynolds/9256database/]Dave Matthews And Tim Reynolds[/url] free movie download without membership fee to pay [url=http://worldmovs.co.cc/full_version-minority-report/12290database/]Minority Report[/url]

Anonymous said...

side effects of multi cystic kidney disease [url=http://usadrugstoretoday.com/categories/cardio-vasculaires.htm]cardio vasculaires[/url] quebec legal private health insurance http://usadrugstoretoday.com/products/prednisone.htm
free medical etextbooks [url=http://usadrugstoretoday.com/products/sarafem.htm]sarafem[/url] longhair tea cup chichuahua sale hawaii [url=http://usadrugstoretoday.com/products/zofran.htm ]breast screening [/url] nonprescription medicine cholesterol
sleuthe smoke [url=http://usadrugstoretoday.com/all-products.htm]no prescription pharmacies[/url] signs of blood prusser while pregnant http://usadrugstoretoday.com/products/trazodone.htm
excessive sleeping in toddlers [url=http://usadrugstoretoday.com/products/celexa.htm]celexa[/url] atomic tea [url=http://usadrugstoretoday.com/products/micardis.htm ]muscle women fighting men [/url] diet pills in retail stores

Anonymous said...

alabama smoking polls [url=http://usadrugstoretoday.com/categories/antibiotiques.htm]antibiotiques[/url] are mobile phones a risk to your health http://usadrugstoretoday.com/products/myambutol.htm
morphine sulfate 30mg [url=http://usadrugstoretoday.com/products/diabecon.htm]diabecon[/url] physical health in mental health [url=http://usadrugstoretoday.com/products/sublingual-viagra.htm ]examples of complementary health leaflets [/url] mediterianani diet
diabetes study heart attack stroke [url=http://usadrugstoretoday.com/products/celexa.htm]celexa[/url] prescription pads http://usadrugstoretoday.com/products/female-viagra.htm
muscle and classic cars for sale in chicagoland [url=http://usadrugstoretoday.com/products/norvasc.htm]norvasc[/url] alternative breast cancer medicine [url=http://usadrugstoretoday.com/products/vermox.htm ]heart valve disorder [/url] locker room staff infection

Anonymous said...

depo provera and vaginal bleeding [url=http://usadrugstoretoday.com/products/tentex-royal.htm]tentex royal[/url] upper respiratory infection competency http://usadrugstoretoday.com/products/zofran.htm
medical institute of sexal health [url=http://usadrugstoretoday.com/products/aciphex.htm]aciphex[/url] nat king cole smoke gets [url=http://usadrugstoretoday.com/products/toprol-xl.htm ]ethics genetic engineering medicine [/url] qualitative medical research articles
journal of acquired immune deficiancy syndromes [url=http://usadrugstoretoday.com/products/reglan.htm]reglan[/url] online no prescription pharmacy xanax http://usadrugstoretoday.com/products/levitra-super-active-plus.htm
getting gum off glasses [url=http://usadrugstoretoday.com/products/ventolin.htm]ventolin[/url] bodybuilding in indiana [url=http://usadrugstoretoday.com/products/viagrx.htm ]blood flag [/url] drug addicted infants

Anonymous said...

bad dental filling [url=http://usadrugstoretoday.com/products/lynoral.htm]lynoral[/url] southern connecticut womens health milford http://usadrugstoretoday.com/products/kamagra-oral-jelly.htm
fairbanks community behavioral health center [url=http://usadrugstoretoday.com/categories/schlafen-hilfe.htm]schlafen hilfe[/url] wendy junes breast [url=http://usadrugstoretoday.com/products/zerit.htm ]alba nude sleeping dictionarys [/url] health heart conditios
bootable pc stress test [url=http://usadrugstoretoday.com/discounts.htm]pharmacy discounts[/url] new england journal of medicine drug women libido http://usadrugstoretoday.com/products/hangover-helper.htm
medical supplies companies medical supplies companies [url=http://usadrugstoretoday.com/products/lotrisone.htm]lotrisone[/url] asthma allergens humidifier purifier [url=http://usadrugstoretoday.com/categories/anti-alergica-y-el-asma.htm ]high blood pressure under age 35 [/url] online pharmacy 2b soma

Anonymous said...

woman extra wide shoes http://luxefashion.us/burgundy-sport-zip-jacket-and-pants-color81.html warmbat shoes [url=http://luxefashion.us/pants-men-category28.html]custom designer engagement ring[/url] interior designer jobs avaibable denver co
http://luxefashion.us/s-polo-shirts-size10.html beautifeel shoes [url=http://luxefashion.us/sweaters-page6.html]grammy fashion[/url]

Anonymous said...

http://xpv.in/doxepin
[url=http://xpv.in/pyridostigmine/pyridostigmine-bromide-usp]pennsylvania drug testing labs[/url] editorial on drugs in tracks events [url=http://xpv.in/doxazosin/flomax-doxazosin]flomax doxazosin[/url]
massachusetts september 2007 drug arrests ryan canfield http://xpv.in/anastrozole/semologie-hadji-anastrozole-anastrazole-ai
[url=http://xpv.in/pyridostigmine/generic-dog-pyridostigmine-bromide]sport medicine florida[/url] what do drug tests test for [url=http://xpv.in/dostinex/dostinex-side-effects]dostinex side effects[/url]
drug charges maria idaho falls http://xpv.in/reglan/reglan-iv-10-mg
[url=http://xpv.in/altace/altace-blood]pioneer drug store virginia city nevada[/url] cushing oklahoma drug store [url=http://xpv.in/quetiapine/quetiapine-dose-escallation]quetiapine dose escallation[/url] dicks pharmacy centerville utah [url=http://xpv.in/dosage/ketorolac-im-dosage]ketorolac im dosage[/url]

Anonymous said...

gambling tattoo http://wqm.in/gambling-online_baccarat-online-gambling-deposit-bonus no deposit free casino bonuses
[url=http://wqm.in/slot_k-slot]luminarc casino night[/url] gambling casino munich [url=http://wqm.in/online-casinos_four-indian-casinos-in-nys]four indian casinos in nys[/url]
jokers art http://wqm.in/casino-playing-cards_playing-cards
[url=http://wqm.in/gambling-online_online-gambling-for-american-players]are there any casino is little rock[/url] american racing wheel casino [url=http://wqm.in/betting_how-do-you-make-a-betting-line]how do you make a betting line[/url]
candyland bingo board games http://wqm.in/betting_betting-on-sports atlantic city casinos map [url=http://wqm.in/casino-online_jackpot-junction-casino-morton-minnesota]jackpot junction casino morton minnesota[/url]

Anonymous said...

the hunted movie wardrobe [url=http://moviestrawberry.com/films/film_the_violent_kind/]the violent kind[/url] what movie did the names bert and ernie come from http://moviestrawberry.com/films/film_welcome_to_mooseport/ two nights in paris movie
office space movie clips [url=http://moviestrawberry.com/films/film_mou_gaan_dou_iii_jung_gik_mou_gaan/]mou gaan dou iii jung gik mou gaan[/url] valdosta movie teather http://moviestrawberry.com/films/film_the_king_of_kings/ piranha the movie
free lesbian movie [url=http://moviestrawberry.com/films/film_the_horse_in_the_gray_flannel_suit/]the horse in the gray flannel suit[/url] unbox movie converter
movie theatre palm coast florida [url=http://moviestrawberry.com/films/film_robin_hood_70/]robin hood 70[/url] ice pick movie http://moviestrawberry.com/films/film_bang_the_drum_slowly/ the 10 commandments movie
desney all star movie hotel [url=http://moviestrawberry.com/films/film_blast_from_the_past/]blast from the past[/url] porn movie preperations http://moviestrawberry.com/films/film_whisper_island/ how to apply for free movie screenings