SGX-listed F&N invests $70m in Myanmar with Emerald Brewery venture

Photo: Reuters

Singapore-listed Fraser & Neave (F&N) has announced the commercial launch of operations at Emerald Brewery Myanmar Limited (Emerald Brewery) a year after it committed to invest $70 million in the beer production joint venture.

Emerald Brewery, a joint-venture between F&N and local partners, marks the comeback for the food and beverage firm to the Myanmar market. F&N exited the country in 2015 after selling its stake in Myanmar Brewery, run jointly with a military-owned company, to Japan’s Kirin Holdings.

F&N has established a greenfield brewery located in Hlegu Township in Yangon, to brew the Chang Lager brand.

Through Emerald Brewery, F&N will work with local communities in manufacturing and across the supply chain.

F&N board executive committee chairman Koh Poh Tiong said, we are pleased to re-establish F&N’s presence in Myanmar’s beer market and our investment reflects the great potential we see in this fast-growing market. We have worked swiftly to build our new brewery, operations and business; and are confident that our two decades’ experience in Myanmar will propel our new venture forward.” 

The brewery has an annual beer production capacity of 500,000 hectolitres.

F&N CEO (beer) Edmond Neo said, “Together with our local partner and ThaiBev, our strategic partner, the opening of this world-class brewery brings us a step closer to this shared vision.”

 

 

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.