CIMB maintains outperform with TP raise from $4.72 to $5.01...sold Northpoint 11 and Yew Tee Point to Fraser Centrepoint Trust for $290mil..free $280mil cash for future investments
This baby looks good today. Any good news?
This counter climbs alot this few days. can still load?
Extension of business relationships for Malaysia, Singapore and Brunei until
September 30, 2011
Singapore, June 30, 2009 – The Coca-Cola Company (“Coca-Cola”) and Fraser and Neave,
Limited (“F&N”) today announced that they have agreed on new transition arrangements that
will take effect after their current bottling arrangements in Malaysia, Singapore and Brunei
expire in January 26, 2010, and continue until September 30, 2011.
Since last year, Coca-Cola and F&N have been in discussions and exploring mutually
beneficial arrangements in the spirit of the long-standing relationship between the two
companies. The result is that F&N’s Malaysia subsidiary, Fraser & Neave Holdings Bhd will
continue to bottle, distribute and sell brands from Coca-Cola for the market in Malaysia during
the transition period, while Coca-Cola will continue to bottle, distribute and sell brands from
F&N for the market in Singapore and Brunei over the same time period.
The transition agreements, that will run for 20 months, will allow Coca-Cola and F&N to
independently pursue opportunities in categories other than sparkling fruit-flavoured drinks &
isotonic drinks, and sparkling beverages (cola and lemon), respectively, in Malaysia, Singapore
and Brunei. It is currently not the intention to renew these transition agreements when they
expire on September 30, 2011.
“We have a long business relationship with Fraser & Neave, of more than 70 years, and it has
been very important for us to find a mutually beneficial and amicable solution to our business
challenges as the parties prepare to pursue their separate strategic interests. We remain
strongly committed to ensuring the future availability of our brands in Malaysia, Singapore and
Brunei. We firmly believe these markets represent tremendous growth opportunities for all our
beverage categories, said Glenn Jordan, Group President, Coca-Cola Pacific, “We will
continue to invest and grow our brands, business and corporate responsibility initiatives in
Malaysia, Singapore and Brunei, both during the transition period with Fraser & Neave and
beyond.”
F&N’s CEO-F&B, Koh Poh Tiong said “This agreement will help smoothen the transition in a
manner that reflects the close relationship that we have enjoyed these many years with The
Coca-Cola Company and importantly, minimise disruption to our brands, our business and our
customers. It is a win-win situation, as both parties will have more time to plan and execute
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their respective strategies. For F&N, we look forward to expanding our product range and the
footprint of our brands beyond Malaysia, Singapore and Brunei, and to participating in the
enormous growth potential that awaits us in the region.”
During the transition period the two companies will work jointly to continue to create
significant economic value for employees, customers and business partners, as well as the
governments in Malaysia, Singapore and Brunei.
End
Contacts:
(a) Media
Fraser and Neave, Limited The Coca-Cola Company
Mr Alan Ho Kenth Kaerhoeg (Asia) +852 9301 7012
General Manager Corporate Communications June Kong (Singapore) + 65 9787 2240
+65 6318 9259 Kadri Taib (Malaysia) + 60 19 332 0320
alanho@fngroup.com.sg
(b)
zoros88 ( Date: 30-Jun-2009 15:04) Posted:
Hi
Anyone knows why F&N is under "H", halt now? |
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The economy is just picking up bk abit only. N current F&N price, i still believe will not stablise at $4 pricing. There will be a up & down maybe at $3.50 to $4.50 for this few mths..
Thus my guts tell me pick at below $4. Unless the economy recover in a V shape (than maybe it will be $4 & above), which i guess will be more like a U shape or W shape.
iPunter ( Date: 23-May-2009 12:04) Posted:
How can it go down so easily when it is already on the way up?... 
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