Fraser & Neave Holdings Bhd

Fraser & Neave Holdings Bhd. is an investment company, which engages in the
manufacture and sale of soft drinks, dairy products, property development
activities and the provision of management services. It operates through the
following segments: Soft Drinks, Dairies Malaysia, Dairies Thailand, Property, and
Others. The Soft Drinks segment includes brands 100PL US, F&N SEASONS
Teas, F&N NutriSoy, and F&N Fun Flavours. The Dairies Malaysia and Dairies
Thailand segments focuses on the sale of dairy products such as sweetened
condensed milk, evaporated milk, pasteurized milk, UHT milk, juice, and ice
cream. The Property segment develops and commercializes properties. The
company was founded by John Fraser and David Chalmers Neave in 1883 and is
headquartered in Kuala Lumpur, Malaysia.

Fraser and Neave, Limited (F&N) is a food and beverage, publishing and former

brewing and property industries conglomerate in Singapore. 6 November 2013
Listed in Singapore, the group’s subsidiaries and associated companies include
Frasers Centrepoint, Asia Pacific Breweries and Times Publishing. As of 2011,
F&N had total assets of over S$14 billion and employed over 7,890 people in 11
countries.[2]
In January 2014, through a distribution in specie and re-listing of Frasers
Centrepoint Limited by way of introduction on the Singapore stock exchange, the
Group de-merged its Properties business.]The company (Singapore and Straits
Aerated Water Company) was formed in 1883 by John Fraser and David Chalmers
Neave, who diversified from their printing business (Singapore and Straits Printing
Office) to pioneer the aerated water business in Southeast Asia in 1883.
In 1898, a new public company was formed and the two businesses were sold to
the new company, named Fraser & Neave (F&N), for $290,000 in cash and shares

Diversification, restructuring, and expansion (1931–1990)[edit]

In 1931, Fraser & Neave formed a joint venture with Holland’s Heineken to
venture into the brewing business. The brewery, Malayan Breweries Limited
produced Tiger Beer, and later acquired Archipelago Brewery, which produced
Anchor Beer.
In 1936, F&N acquired the Singapore, Malaya and Brunei franchise rights
for Coca-Cola drinks. Alongside its own range of F&N branded drinks, the
company went on to acquire the rights to other PepsiCo, Coca-Cola, and Cadbury
Schweppes brands – such as – 7-Up, Fanta, and Sunkist.
In 1990, Malayan Breweries changed its name to Asia Pacific Breweries.
Recent history (1990–2012)[edit]
In 1999, F&N purchased a 20% stake in Times Publishing before taking majority
control of the company in 2000, with the entire acquisition costing around S$570
million.[6] This put F&N into the printing, publishing, retail bookstore, sales and
distribution, education, internet and conference organisation businesses. In 2001,
F&N took both Times and Centrepoint Properties private.
In 2006, the Singapore government investment company Temasek Holdings took a
14.9%, S$900 million stake in F&N, becoming F&N’s second-largest investor.[7] In
2008, F&N reorganised its management structure and appointed chief executives
for three of its core businesses, food & beverage, property and printing and
publishing.[8]
In 2010, Temasek’s entire stake was sold to Japan’s Kirin Holdings for S$1.33
billion.[9]
On 1 September 2011, the three-quarter-century partnership between F&N and
Coca-Cola in Malaysia, Singapore and Brunei ended. F&N no longer had the
franchise rights to manufacture and market Coca-Cola beverages.
In July 2012, ThaiBev acquired a 22% stake in F&N from Oversea-Chinese
Banking Corporation, raising its stake to 24.1%.[10]
In August 2012, F&N accepted an offer from Heineken to acquire its stake in Asia
Pacific Breweries for US$4.1 billion.[11]
In September 2012, ThaiBev and its partner TCC Assets, both controlled by Thai
billionaire Charoen Sirivadhanabhakdi made a move to thwart efforts by Heineken
to acquire control of Asia Pacific Breweries, with a S$8.8 billion (US$7.1 billion)
cash offer for F&N.[12] Other companies, such as, Coca-Cola and Kirin Holdings,
has also shown interest for the soft-drink and food businesses of F&N, in order to
expand their operations in Asia.[13][14]
On 28 September 2012, F&N shareholders approved the deal to sell Asia Pacific
Breweries to Heineken during the extraordinary general meeting held.[15]
On 16 November 2012, Kirin Holdings sold their 15% stake in F&N to OUE
Bayfront for approximately SGD 2 billion.[16]
2013 – present[edit]
Charoen Sirivadhanabhakdi expanded his ThaiBev drinks and property empire to
include about two-thirds of this Singapore conglomerate.[17] This was possible
after Japan's Kirin Brewery Company sold its 15% stake for USD 1.6 billion to
Sirivadhanabhakdi.[18]
In January 2014, through a distribution in specie and re-listing of Frasers
Centrepoint Limited by way of introduction on the Singapore stock exchange, the
Group de-merged its Properties business.