Fraser and Neave : Responses to Questions for F&N AGM
January 04, 2022 at 05:29 am EST
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438 Alexandra Road
Tel : (65) 6318 9393
#20-00 Alexandra Point
Fax : (65) 6271 0811
Singapore 119958
Website: www.fraserandneave.com
FRASER AND NEAVE, LIMITED
Company Registration No. 189800001R
Incorporated in Singapore
Annual General Meeting to be held on 18 January 2022
Response to a Substantial and Relevant Question
Q1. Given the unstable situation in Myanmar, what are the risks of doing business there in the near future?
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There are inherent risks when investing and operating in emerging markets, including Myanmar. Last year, in addition to the volatile political landscape, businesses also had to deal with the COVID-19 pandemic. This is an operating environment that a business cannot anticipate yet must be prepared for.
Having an experienced and effective operating team on the ground is ever more important. Fraser and Neave, Limited ("F&N" or the "Company", and together with our subsidiaries, the "Group") has decades of experience and knowledge of the Myanmar market, which we believe has great growth potential and remains of keen interest to the Group. Drawing upon the Group's experience, our brewery, which is owned and operated by our subsidiary, Emerald Brewery Myanmar Limited ("EBML"), delivered a creditable performance. EBML, an 80-20 joint venture between us and a local private enterprise, delivered strong topline growth and turned a profit (before foreign exchange losses) in just its second year of operation.
Amidst the ongoing health crisis and risks associated with the country, the Group expects supply chain challenges and currency volatility to continue. The Group will continue to adapt to the evolving situation in Myanmar, drawing on past experiences as well as working with our strategic partner, Thai Beverage Public Company Limited, to meet the challenges of conducting business there.
By Order of the Board
Hui Choon Kit
Company Secretary
4 January 2022
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Fraser and Neave Limited published this content on 04 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 January 2022 10:28:00 UTC.
Fraser and Neave, Limited is a Singapore-based company that is engaged in the production and sale of beverages and dairy products, and printing and publishing. The Companyâs geographical segments include Singapore, Malaysia, Thailand and Vietnam. Its Food and Beverage (F&B) division produces, markets and sells soft drinks, beer, dairies, juices and ice cream. Its F&B brands include 100PLUS, F&N and F&N NUTRISOY for Soft Drinks, CHANG for Beer, F&N MAGNOLIA for Dairies, and F&N MAGNOLIA and F&N KING'S for Ice Cream. Its printing and publishing brands include Marshall Cavendish, Times Printers, Print Lab, Office & Schools Solutions, Times Distribution, Pansing, Times bookstores, Kaboom and GoGuru. The Companyâs subsidiaries include Emerald Brewery Myanmar Limited, F&N Foods Pte Ltd, F&N Creameries Group, Fraser & Neave Holdings Bhd Group, Warburg Group and Yoke Food Industries Group.