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Heineken KIcks Off Partnership with Laneway Festival in 2012, Expands Commitment to Support Fresh, Revered Seminal Music

Press Releases   •   Feb 01, 2012 16:54 SGT

Heineken builds on its long standing support of ground breaking music by partnering with the St. Jerome’s Laneway Festival as the official beer partner for the festival’s second year in Singapore.

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Asia Pacific Breweries Singapore Treats Sixty Seniors to A Day Out In Town As Part of Its Chinese New Year Celebrations

Press Releases   •   Jan 31, 2012 16:49 SGT

It was a special day for 60 senior citizens from the Kreta Ayer Foundation as they were treated to an event in town as part of Asia Pacific Breweries Singapore’s (APBS) celebrations for the Year of the Dragon. Titled “Grannies Day Out”, the event brought a twist to celebrating the Lunar New Year for these elderly folk who had supported APB Singapore’s “Cookies for Charity” drive in recent weeks.

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ARCHIPRESSO - The artisanal product of a Brewmaster and Barista

Press Releases   •   Jan 26, 2012 16:42 SGT

Archipelago Brewery and 40 Hands announces the launch of Singapore’s first locally brewed coffee inspired craft beer. Archipresso is a German style black lager (Schwarzbier) brewed with rich luscious malts and high-quality coffee.

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Guinness-infused Bak Kwa and live street performance pack a festive punch this Chinese New Year

Press Releases   •   Dec 29, 2011 16:34 SGT

Guinness embraces being the perfect guest and perfect host this Lunar New Year by giving fans the unique opportunity to learn how to make their own premium Guinness-infused Bak Kwa through special demonstrations and a masterclass.

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Asia Pacific Breweries Foundation and SAM Announce Winners of the APB Foundation Signature Art Prize 2011

Press Releases   •   Nov 28, 2011 18:00 SGT

The Singapore Art Museum (SAM) and Asia Pacific Breweries (APB) Foundation are proud to announce that artist Rodel Tapaya from the Philippines has been awarded the Grand Prize (SGD 45,000) of the APB Foundation Signature Art Prize 2011, for his winning artwork Baston ni Kabunian, Bilang Pero di Mabilang (Cane of Kabunian, numbered but cannot be counted).

His winning artwork employs imagery from Filipino folklore juxtaposed with elements of modern day Philippines, commenting on pre-colonial myths, stories and cultural heritage while also commenting on current issues such as environmental destruction.

The APB Foundation Signature Art Prize recognises artists for outstanding artwork created in the preceding three years and encourages the development of contemporary art across the Asia Pacific region.

On winning the award, Tapaya said, “I am extremely happy to have received the Grand Prize of the Asia Pacific Breweries Foundation Signature Art Prize. It's a very prestigious award and I'm honoured to have been nominated alongside 14 other very talented finalists and to be chosen as the winner by such a distinguished and well-respected panel of judges. This award will no doubt be a boost to my practice and is a great encouragement for me to continue producing good work.”

Tapaya's artwork was selected as the winning entry from 15 artworks shortlisted from the 130 nominations received from 24 countries and territories across Asia Pacific. The winning entry was assessed by the international jury panel based on the following criteria: strength of the idea and concept, creative and interesting use of medium and material, technique, expression and form, artistic insight and interpretation, imagination and originality and actual installed artwork. The other shortlisted artists are from Australia, Cambodia, China, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Pakistan, Philippines, Taiwan and Vietnam.

Four other artists were also presented awards. Three Jurors' Choice Awards, each worth SGD 10,000, went to Daniel Crooks from Australia for Static No.12 (seek stillness in movement), Sheba Chhachhi from India for The Water Diviner, and Aida Makoto from Japan for Ash Color Mountains. The People's Choice Award (worth SGD 10,000) for the most number of public votes received from around the world went to Michael Lee from Singapore for his artwork Second-Hand City.

The Grand Prize was presented by Ms Grace Fu, Senior Minister of State for Information, Communications and the Arts, and Environment and Water Resources at the awards ceremony at the Singapore Art Museum last evening. Mr Roland Pirmez, Chairman, Advisory Committee and Member, Board of Trustees of the APB Foundation presented the Juror's Choice Awards while Mr Michael Koh, CEO of the National Heritage Board presented the People's Choice Award.

The jury panel was made up of five eminent art experts: Mr. Fumio Nanjo, Director, Mori Art Museum; Mr. Gregor Muir, Executive Director, Institute of Contemporary Arts London; Mr. Hendro Wijanto, leading Southeast Asian writer, critic and curator; Mr. Ranjit Hoskote, poet, curator and theorist, and Mr. Tan Boon Hui, Director, SAM.

According to a statement from the jury panel, “Rodel Tapaya's Baston ni Kabunian, Bilang Pero di Mabilang (Cane of Kabunian, numbered but cannot be counted) is a compelling and monumental-scale work. With its multiple narratives and diverse allegorical references, this stunning mural-sized painting embodies a vibrant strain in contemporary art from the Asia-Pacific region. While Tapaya does not shy away from drawing on the folklore of his native region, his is neither a naïve nor self-exoticising practice. The artist is audacious in his use of the Philippine mural tradition as well as Latin American magic realism and Bosch-like phantasmagoria. Anchored in a postcolonial setting but with far-reaching universal relevance, the work will surely provoke discussion about emerging aesthetic tendencies in Asia-Pacific. Together with the three Jurors' Choice Award winners, the prize-winning works are ground-breaking in their negotiation of cultural heritage and contemporary forms of expression. They are all worthy of recognition as being among the best art works from the region.”

The triennial APB Foundation Signature Art Prize is a hallmark of distinction awarded to artists whose artworks represent a significant development in contemporary visual art in the Asia Pacific region. The award series is the result of a 15-year partnership announced in October 2007 between SAM and APB Foundation to develop and promote contemporary visual art in the Asia Pacific region. APB Foundation doubled its Prize funding this year from $2.25 million for five editions to $4.45 million and expanded the Prize to include nominations from the whole Asia Pacific region.

Says Mr Roland Pirmez, Chairman, Advisory Committee and Member, Board of Trustees of the APB Foundation, “As APB has marked its footprint in the Asia Pacific region, it only makes sense for the eponymous Foundation to celebrate the cultures amongst which it has situated its breweries. And what better way of capturing the essence and colour of the lives in the region than through the art of the people which speak so vividly of what is happening around them. The APB Foundation Signature Art Prize is set up to applaud and celebrate the diversity of life as showcased in the artwork of the Asia Pacific region. We are extremely excited, proud and honoured to be part of this celebration.”

Mr. Tan Boon Hui, Director of the Singapore Art Museum added, “The Singapore Art Museum is proud to have presented this Prize once again. We believe in the value and originality of the contemporary art that is being created now in the Asia Pacific, as it connects us to the living communities around us. The expansion of the Signature Art Prize has allowed us to offer a critical platform for even more artists to present their works while inviting new and existing audiences to encounter the richness of this region's art. The nominated and finalist artworks collectively form a barometer for assessing the state of contemporary art-making in the region, all in one place. We thank APB Foundation for its foresight and generous sponsorship and also thank all nominated artists, nominators and the judges for making this Prize a success. Our heartiest congratulations to all winners of the Prize.”

The 15 shortlisted artworks can be viewed at the Asia Pacific Breweries Foundation Signature Art Prize 2011 Finalists Exhibition from now until 4 March 2012 at the Singapore Art Museum. A series of tours, talks on contemporary art and other outreach activities held in conjunction with the exhibition have also been planned to give the public more insight into each of the finalist works. Details can be found on www.singaporeartmuseum.sg/signatureartprize.

Listed on the Singapore Exchange, Asia Pacific Breweries Limited (APB) is one of the key players in the beer industry. A joint venture between the Fraser and Neave Group of companies and Heineken, APB was established as Malayan Breweries Limited (MBL) in 1931. The company went on to open its first brewery in Singapore and launched the award-winning Tiger beer a year later. Over time, MBL took its business beyond Singapore and added new beer brands to its portfolio of brews. MBL was renamed Asia Pacific Breweries Limited in 1990. Today, APB operates an extensive global marketing network, which spreads across 60 countries and is supported by 30 breweries in 14 countries including SingaporeCambodiaChinaIndonesiaLaos,MalaysiaMongoliaNew CaledoniaNew ZealandPapua New GuineaSolomon IslandsSri LankaThailand, andVietnam.

The Singapore Art Museum (SAM) and Asia Pacific Breweries (APB) Foundation are proud to announce that artist Rodel Tapaya from the Philippines has been awarded the Grand Prize (SGD 45,000) of the APB Foundation Signature Art Prize 2011, for his winning artwork Baston ni Kabunian, Bilang Pero di Mabilang (Cane of Kabunian, numbered but cannot be counted).

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Heineken Brings International Holiday Cheers to Clarke Quay with the Social Christmas Tree

Press Releases   •   Nov 23, 2011 16:12 SGT

Heineken is sharing the international spirit of Christmas in Singapore with a magical display on the Heineken Social Christmas Tree. This Social Christmas Tree is a first for Heineken, and will have various interactive activities, combining the joys of digital and bringing them offline.

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PBIT for FY2011 Crosses S$600 million

Press Releases   •   Nov 10, 2011 15:18 SGT

  • ANP increased 30% to S$ 341.7 million 
  • PBIT rose 23% to S$613.9 million
  • Group Revenue advanced 18% to almost S$3 billion

Today, Asia Pacific Breweries Ltd (APB) announced its financial results for the full year ended 30 September 2011.

Group profit before interest, taxation, and exceptional items (PBIT) rose S$113.8 million or 23% to S$613.9 million. Attributable net profit before exceptional items (APBE) increased S$42.6 million or 16% to S$303.6 million. Excluding translation differences, gestation loss1 and the impact of acquisitions2 and disposals3, organic PBIT and APBE grew 25% and 16% respectively.

An exceptional gain of S$36.8 million was recorded from the divestment of interests in Kingway Brewery Holdings Ltd3 (KBH).  This resulted in attributable net profit after exceptional items (ANP) rising by S$78.6 million or 30% to S$341.7 million.

Group revenue for the year gained 18% to almost S$3 billion. Earnings per share before exceptional items rose 16.5 cents to S$1.176.  Compared to the previous financial year, net asset value per share gained 58 cents to S$4.96 while net tangible assets (NTA) per share gained S$0.57 to S$2.39.

The Directors have proposed a final dividend of 63 cents per share and a special dividend of 15.5 cents per share. Together with the interim dividend of 22 cents per share, total net dividend for the year is S$1.005 per share. The final and special dividends, if approved by shareholders, will be paid on 13 February 2012.

Mr Roland Pirmez, Chief Executive Officer of APB, said," Our double-digit revenue growth was mainly due to robust sales in markets such as Vietnam, Papua New Guinea and Sri Lanka. Sales volumes from Indonesia, New Caledonia and the newly acquired brewery in Solomon Islands also contributed to the improved revenue.”

“ANP grew 30%. The bottom line has been further lifted by an exceptional gain from the divestment of interest in KBH by our joint venture company,” he continued.

Indochina (Cambodia, Laos and Vietnam) and Thailand recorded PBIT and volume gains of 17%. Vietnam led the region with a double-digit volume growth although sales also improved in all the other countries. The Indochina region is the Group’s largest PBIT contributor at 47%.

South and South East Asia (Singapore, Indonesia, Malaysia, Sri Lanka and export markets) recorded PBIT and volume improvements of 30% and 20% respectively. Indonesia has emerged to become a new key contributor to the profitability of this region while PBIT in Malaysia rose 18% as compared to the previous year.  While Singapore reported stable earnings, Sri Lanka turned in a modest maiden profit during the year. Excluding the results from Indonesia from October 2010 to January 2011 for a more comparable basis (as Indonesia was only acquired on 10 February 2010), PBIT for the region grew 6%. This region contributes 31% of Group PBIT and is the second largest PBIT contributor for the Group.

Oceania (New Zealand, Papua New Guinea, New Caledonia and Solomon Islands) reported a PBIT increase of 40% that grew on the back of an 11% volume increase. The robust performance was driven mainly by strong consumer demand in Papua New Guinea, improved margins from New Zealand as well as contributions from New Caledonia and Solomon Islands. Excluding the results from New Caledonia (from October 2010 to January 2011) and Solomon Islands (from June 11 to September 11) for a more comparable basis as New Caledonia was only acquired on 10 February 2010 and Solomon Islands on 6 June 2011, PBIT grew 33%. This region accounted for 27% of Group PBIT.

North Asia (China and Mongolia) reported a PBIT of S$2.1 million. Mongolia continued to report volume growth while the business model in China has been restructured to focus on the international premium segment.

Greater Demand Leading to Capacity Expansion

During the year, the Group expanded the capacity of several of its breweries.

In October 2011, the breweries in Danang and Ho Chi Minh City, Vietnam expanded their capacities to 1 million and 4.2 million hectolitres respectively to meet surging demand for our brands.  The latter, the largest brewery in Vietnam, also added a second canning line that produces up to 90,000 cans of beer per hour, further sharpening its competitive edge and efficiency.

In August 2011, the brewery in Tangerang, Indonesia installed a new bottling line that is able to fill up to 36,000 bottles per hour. This has improved bottling productivity by 30%.

During the course of the year, new fermentation storage tanks were installed in breweries situated in Mongolia, New Caledonia and Sri Lanka. The additional capacities have improved the efficiency of the supply chain thereby ensuring that demand for our beers will be matched with a corresponding supply.

To cater to demand for Heineken and Tiger beers in China, the production capacity of the newly-commissioned Guangzhou brewery will be expanded to 1.5 million hectolitres. The expansion is expected to complete by the first quarter of 2012.

The Group also added to its capacity by acquiring a 97.69% stake in Solomon Breweries Limited in June 2011, thereby strengthening its presence in the South Pacific Islands. Solomon Breweries, which produces SB and Solbrew Lager, is immediately accretive to APB's earnings.

Operations Review

South & South East Asia (Singapore, Export Markets, Malaysia, Indonesia and Sri Lanka)

Volume and PBIT for the region rose 20% and 30% respectively, boosted mainly by the acquisition of breweries in Indonesia in February 2010. On a comparable basis, excluding the results from Indonesia from October 2010 to January 2011, PBIT grew 6% driven by higher volumes in Singapore, Malaysia, Indonesia and Sri Lanka as well as improved margins from price increases in Indonesia.

Indochina (Vietnam, Cambodia and Laos) & Thailand

The region, led by Vietnam, continues to deliver double digit volume and PBIT growth. Volume for the region grew 17%, with improved sales in all operating markets.

PBIT grew 17%, underpinned by higher volume and better margins in Vietnam. Excluding translation losses, arising mainly from the 18% devaluation in the Vietnamese dong, PBIT grew organically by 38%.

North Asia (China and Mongolia)

PBIT for the region fell 61% to S$2.1 million due to higher gestation losses from our new start-up brewery in Guangzhou and divestment of interests in KBH by HAPBC, partially offset by improved margins from price increases. Share of gain from divestment in KBH has been reflected under Exceptional Items.

Oceania (New Zealand, Papua New Guinea, New Caledonia and Solomon Islands)

Volume and PBIT for the region grew 11% and 40% respectively. The robust performance was driven mainly by strong consumer demand in Papua New Guinea and improved margins from New Zealand as well as contributions from newly acquired breweries in New Caledonia (February 2010) and Solomon Islands (June 2011).

On a comparable basis, excluding the results from New Caledonia from October 2010 to January 2011 and Solomon Islands from June 2011 to September 2011, PBIT grew 33% due to higher volumes and improved margins from all operating markets.

Corporate Office

Corporate office expenses were higher than last year mainly due to increased employee share-based expenses as a result of the higher share price for the year offset by higher royalty income and lower business development expenses.

Outlook

Rising inflation in our main markets compounded by the recent economic uncertainties may dampen consumer demand.

Strengthening of the Singapore Dollar against regional currencies, particularly the Vietnamese Dong, will continue to adversely affect the reported financial results of the Group. 

 

[1] Gestation loss refers to the 1st three years’ results from greenfield brewery in Guangzhou (Guangdong, China).  FY2011 is the 3rd year of gestation loss.

[2] On 10 February 2010, the Group completed the acquisition of breweries in Indonesia and New Caledonia. On 6 June 2011, the Group acquired 97.69% of the share capital in Solomon Breweries Limited (SBL) from the Solomon Islands. SBL contributed 4 months of results in the current year ended 30 September 2011.

[3] On 10 February 2010, the Group sold all its breweries in India.  On 5 May 2011, Heineken-APB (China) Pte Ltd (‘HAPBC’), a joint venture of the Company, divested all its stake in KBH.

Listed on the Singapore Exchange, Asia Pacific Breweries Limited (APB) is one of the key players in the beer industry. A joint venture between the Fraser and Neave Group of companies and Heineken, APB was established as Malayan Breweries Limited (MBL) in 1931. The company went on to open its first brewery in Singapore and launched the award-winning Tiger beer a year later. Over time, MBL took its business beyond Singapore and added new beer brands to its portfolio of brews. MBL was renamed Asia Pacific Breweries Limited in 1990. Today, APB operates an extensive global marketing network, which spreads across 60 countries and is supported by 30 breweries in 14 countries including SingaporeCambodiaChinaIndonesiaLaos,MalaysiaMongoliaNew CaledoniaNew ZealandPapua New GuineaSolomon IslandsSri LankaThailand, andVietnam.

Today, Asia Pacific Breweries Ltd (APB) announced its financial results for the full year ended 30 September 2011.

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Contacts 1 contact

  • Press Contact
  • Head, Corporate Communications
  • Alina.Boey@apb.com.sg
  • +65 68616200

About Asia Pacific Breweries (Singapore) Pte Ltd

Asia Pacific Breweries Limited (APB) is one of the key players in the beer industry.

Singapore is home to APB and Tiger beer. APB's first 100% owned brewery was founded in Singapore in 1931. Currently operated by Asia Pacific Breweries (Singapore) Pte Ltd (APB Singapore), the brewery launched Singapore's very own Tiger beer in 1932.

Today, its list of local brews includes Tiger beer, Heineken, Anchor beer, Baron's Strong Brew, Guinness Stout, ABC Stout and the Archipelago range of craft beers. It also offers other beers like Erdinger, Kilkenny, Guinness Draught and Sol.

To extend growth, APB Singapore commissioned its S$200 million state-of-the-art brewery in 1990. Sprawling across nine hectares in Tuas, the brewery adopts the most technologically advanced brewing process that is almost completely automated from milling right down to fermentation and filtration, with stringent quality control management being carried out at every stage of the brewing process. In fact, the brewery was the first Asian brewery to be ISO certified by Lloyd's of London for superior integrity and management systems.

The Singapore brewery houses an innovative packaging facility that can be easily configured to cater to more pack-types and combinations. The enhanced capabilities and greater flexibility in packaging our beers have translated into a competitive edge for the company which is often recognised for its superior brews and prominent brand initiatives.