DOCSLIB.ORG

JOINT ANNOUNCEMENT by CEREBOS PACIFIC LIMITED

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
JOINT ANNOUNCEMENT by CEREBOS PACIFIC LIMITED JOINT ANNOUNCEMENT by CEREBOS PACIFIC LIMITED (Incorporated in the Republic of Singapore) Company Registration No.:198104186H and SUNTORY BEVERAGE & FOOD ASIA PTE. LTD. (Incorporated in the Republic of Singapore) Company Registration No.: 201117283D a wholly-owned subsidiary of SUNTORY BEVERAGE & FOOD LIMITED (Incorporated in Japan with limited liability) in relation to the PROPOSED VOLUNTARY DELISTING OF CEREBOS PACIFIC LIMITED 1. INTRODUCTION 1.1 Delisting Proposal. Cerebos Pacific Limited (“ Cerebos ” or the “ Company ”) and Suntory Beverage & Food Asia Pte. Ltd. (the “ Offeror ”), a wholly-owned subsidiary of Suntory Beverage & Food Limited (“ Suntory ”), wish to announce that the Offeror has presented to the board of directors of the Company (the “ Board ”) a formal proposal (the “ Delisting Proposal ”) seeking the voluntary delisting of the Company (the “ Delisting ”) from the Official List of the Singapore Exchange Securities Trading Limited (the “ SGX-ST ”). The Offeror and/or Suntory hold, as at the date of this Announcement (the “ Announcement Date ”), 262,080,735 Shares (as defined below), representing approximately 82.58 per cent. of the issued Shares as at the Announcement Date. The Delisting is proposed to be made pursuant to Rules 1307 and 1309 of the Listing Manual of the SGX-ST (the “ Listing Manual ”). 1 1.2 Exit Offer . In conjunction with the Delisting Proposal, the Offeror has informed the Company that Nomura Singapore Limited (“ Nomura ”) will make, for and on behalf of the Offeror, an exit offer (the “ Exit Offer ”) to acquire: (i) all the ordinary shares (the “ Shares ”) in the capital of the Company, other than those held by the Offeror, its related corporations and their respective nominees; and (ii) all new Shares allotted and issued prior to the close of the Exit Offer pursuant to the valid exercise of any options (the “ Options ”) to subscribe for new Shares under the Cerebos Pacific Limited 1998 Executive Share Option Scheme (the “ Cerebos ESOS ”), (collectively, the “ Offer Shares ”) at a price of S$6.60 in cash (the “ Exit Offer Price ”) for each Offer Share. Pursuant to the Exit Offer, the Offer Shares are to be acquired together with the right to receive and retain all dividends, rights and other distributions (if any) declared, paid or made by the Company on or after the Announcement Date. If any dividend, right or other distribution is declared, paid or made by the Company on or after the Announcement Date and the Offeror is not entitled to receive such dividend, right or other distribution in full from the Company in respect of any Offer Shares tendered in acceptance of the Exit Offer, the Exit Offer Price payable in respect of such Offer Shares will be reduced by the amount of such dividend, right or other distribution. 1.3 Options Proposal . Under the Delisting Proposal, the Company has been informed that Nomura will also make a proposal for the Options (“Options Proposal ”). 1.4 Shares in Issue . As at the Announcement Date, there are 317,349,795 Shares in issue and 2,452,000 outstanding Options granted to key management and employees under the Cerebos ESOS. 1.5 Offeror Announcement . The terms and conditions of the Exit Offer and the Options Proposal are set out in the announcement issued by the Offeror today (the “ Offeror Announcement ”) in relation to the Delisting Proposal, a copy of which is available on the website of the SGX-ST on www.sgx.com . Shareholders are advised to read this Announcement and the Offeror Announcement in its entirety. 2. PROVISIONS IN THE LISTING MANUAL RELATING TO THE DELISTING AND EXIT OFFER 2.1 Rule 1307. Pursuant to Rule 1307 of the Listing Manual, the SGX-ST may agree to an application by the Company to delist from the Official List of the SGX-ST, provided that: 2 (i) the Company convenes an extraordinary general meeting (“ EGM ”) to obtain the approval of holders of Shares (the “ Shareholders ”) for the resolution for the Delisting (the “ Delisting Resolution ”); (ii) the Delisting Resolution is approved by a majority of at least 75 per cent. of the total number of issued Shares (excluding treasury Shares) held by Shareholders present and voting, on a poll, either in person or by proxy at the EGM; and (iii) the Delisting Resolution is not voted against by 10 per cent. or more of the total number of issued Shares (excluding treasury Shares) held by Shareholders present and voting, on a poll, either in person or by proxy at the EGM. Shareholders should note that under Rule 1307 of the Listing Manual, the directors of the Company (the “ Cerebos Directors ”) and the controlling Shareholders of the Company need not abstain from voting on the Delisting Resolution. 2.2 Rule 1309. In addition, Rule 1309 of the Listing Manual requires that if the Company is seeking to delist from the Official List of the SGX-ST: (i) a reasonable exit alternative, which should normally be in cash, should be offered to the Shareholders and holders of any other classes of listed securities to be delisted; and (ii) the Company should normally appoint an independent financial adviser to advise on the Exit Offer. 3. INDEPENDENT FINANCIAL ADVISER 3.1 Independent Financial Adviser . The Company has appointed DBS Bank Ltd. as the independent financial adviser (the “ IFA ”) to advise the Cerebos Directors who are considered independent for the purposes of the Delisting Proposal and the Exit Offer (the “ Cerebos Recommending Directors ”), on the Delisting and Exit Offer. The recommendation of the Cerebos Recommending Directors and the IFA’s formal opinion will be set out in the circular to Shareholders in respect of the EGM to be convened for the purpose of passing the Delisting Resolution (the “ Delisting Circular ”). 3.2 Delisting Announcement and SGX-ST Application. Subject to the consideration of, and satisfaction with, the advice of the IFA on the fairness and reasonableness of the Exit Offer by the Cerebos Recommending Directors, the Company will (i) make an application to the SGX-ST for approval of the Delisting and (ii) subject to the SGX-ST giving its approval in 3 principle of the Delisting, convene an EGM in due course to seek the approval of Shareholders for the Delisting Resolution. 4. INFORMATION ON CEREBOS Information on the Group . The Company is a company incorporated and domiciled in Singapore and is listed on the Mainboard of the SGX-ST. The principal activities of the Company are the provision of management services to its subsidiaries and associated companies and the marketing and sale of health supplements, including essence of chicken and related products. The subsidiaries and associated companies of the Company are engaged principally in the manufacture, marketing and sales and distribution of health supplements, including essence of chicken and related products in Asia and food products and coffee in Australasia. 4.1 Information on the Board . The Board currently comprises the following directors: Name Designation Teo Chiang Long Chairman, Non-Executive and Independent Director Eiji Koike Executive Director Raja Tan Sri Muhammad Alias Bin Raja Non-Executive and Independent Director Muhammad Ali Wong Yuen Kuai Lucien Non-Executive and Independent Director Yuji Yamazaki Non-Executive and Non-Independent Director Nobuhiro Torii Non-Executive and Non-Independent Director Hong Sik Park Non-Executive and Non-Independent Director Ramlee Bin Buang Executive Director Lackana Leelayouthayotin Executive Director Gen Saito Alternate Director to Nobuhiro Torii Keiichi Abe Alternate Director to Yuji Yamazaki 5. FURTHER INFORMATION 5.1 Delisting Circular . The Delisting Circular containing, inter alia , further information on the Delisting Proposal and the terms and conditions of the Exit Offer, the advice of the IFA to the Cerebos Recommending Directors, the recommendation of the Cerebos Recommending Directors and the notice of EGM, will be despatched to Shareholders in due course. 4 5.2 Dealings in Shares . In the meantime, Shareholders are advised to exercise caution in their dealings in the Shares and to refrain from taking any action in relation to their Shares which may be prejudicial to their interests. 6. RESPONSIBILITY STATEMENTS 6.1 Cerebos Directors . The Cerebos Directors (including any director who may have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and opinions expressed in this Announcement are fair and accurate and that no material facts have been omitted from this Announcement, the omission of which would make any statement in this Announcement misleading. The Cerebos Directors jointly and severally accept responsibility accordingly. Where any information in this Announcement has been extracted from published or publicly available sources (including but not limited to the Delisting Proposal), the sole responsibility of the Cerebos Directors has been to ensure through reasonable enquiries that such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this Announcement. 6.2 Offeror Directors . The directors of the Offeror (including any who may have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and opinions expressed in this Announcement (other than those relating to the Company and its subsidiaries and associated companies) are fair and accurate and that no material facts have been omitted from this Announcement, the omission of which would make any statement in this Announcement misleading. The directors of the Offeror jointly and severally accept responsibility accordingly. Where any information has been extracted from published or publicly available sources (including, without limitation, in relation to the Company and its subsidiaries and associated companies), the sole responsibility of the directors of the Offeror has been to ensure through reasonable enquiries that such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this Announcement.
Load more

Recommended publications
  • Case Study Cerebos Australia – 2016 Outstanding Achievement in Design
    Case Study Cerebos Australia - 2016 Outstanding Achievement in Design Case Study Cerebos Australia – 2016 Outstanding Achievement in Design Overview In 2016, Cerebos Australia won the Australian Packaging Covenant award for Outstanding Achievement in Design. This award recognises the organisation’s success in integrating the Sustainable Packaging Guidelines (SPGs) into their design and procurement processes, and implementing the opportunities identified. Taking advantage of an extensive factory modernisation, the Cerebos design team has been able to use the outcomes of the SPG reviews to redesign and rethink packaging as production lines were upgraded. A consistently high performing signatory, Cerebos also works actively with its supply chain to identify and implement design changes. Background Cerebos Australia Cerebos is a successful and innovative sauce, spice and coffee manufacturing organisation that develop and manufacture their own products across both Australia and New Zealand. They have a wide range of well- known brands including Fountain, Gravox, Saxa and Gregg’s. Cerebos Australia and New Zealand is a trans- Tasman integration of two companies. The parent company, Cerebos Pacific Limited, is based in Singapore and is wholly owned by Suntory Limited, a Japanese global food and beverage group. Commitment to Sustainable Design Since joining the Covenant in mid-2000, Cerebos has progressively improved its packaging decision-making processes in order to reduce environmental impacts and create business efficiencies. Cerebos has an ongoing commitment to minimise the environmental impact arising from packaging by continuing to pursue their specific performance goals of Design, Recycling and Product Stewardship. Environmental issues are considered in the product development process through a packaging decision checklist based on the SPGs.
    [Show full text]
  • Chicken Essence for Cognitive Function Improvement: a Systematic Review and Meta-Analysis
    nutrients Review Chicken Essence for Cognitive Function Improvement: A Systematic Review and Meta-Analysis Siew Li Teoh 1, Suthinee Sudfangsai 2, Pisake Lumbiganon 3, Malinee Laopaiboon 4, Nai Ming Lai 5 and Nathorn Chaiyakunapruk 1,6,7,8,* Received: 3 November 2015; Accepted: 11 January 2016; Published: 20 January 2016 1 School of Pharmacy, Monash University Malaysia, Selangor 47500, Malaysia; [email protected] 2 Faculty of Pharmaceutical Sciences, Naresuan University, Phitsanulok 65000, Thailand; [email protected] 3 Department of Obstetrics and Gynaecology, Faculty of Medicine, Khon Kaen University, Khon Kaen 40002, Thailand; [email protected] 4 Department of Biostatistics and Demography, Faculty of Public Health, Khon Kaen University, Khon Kaen 40002, Thailand; [email protected] 5 School of Medicine, Taylor’s University Malaysia, Selangor 47500, Malaysia; [email protected] 6 Center of Pharmaceutical Outcomes Research (CPOR), Department of Pharmacy Practice, Faculty of Pharmaceutical Sciences, Naresuan University, Phitsanulok 65000, Thailand 7 School of Pharmacy, University of Wisconsin, Madison, WI 53705-2222, USA 8 School of Population Health, University of Queensland, Brisbane, Herston QLD 4006, Australia * Correspondence: [email protected]; Tel.: +603-5514-4413; Fax: +603-5514-6326 Abstract: Chicken essence (CE) is a popular traditional remedy in Asia, which is believed to improve cognitive functions. CE company claimed that the health benefits were proven with research studies. A systematic review was conducted to determine the cognitive-enhancing effects of CE. We systematically searched a number of databases for randomized controlled trials with human subjects consuming CE and cognitive tests involved. Cochrane’s Risk of Bias (ROB) tool was used to assess the quality of trials and meta-analysis was performed.
    [Show full text]
  • Comvita Limited 2011 Independent Adviser's Report
    Comvita Limited Independent Adviser’s Report On the Full Takeover Offer from Cerebos New Zealand Limited November 2011 COMVITA LIMITED TARGET COMPANY STATEMENT 2011 29 Table of Contents Glossary..........................................................................................................................................................................................3 1. Terms of the Cerebos Offer .................................................................................................................................................4 1.1 Background..................................................................................................................................................................4 1.2 Details of the Cerebos Offer..........................................................................................................................................4 1.3 Requirements of the Takeovers Code ...........................................................................................................................5 1.4 Overview of Cerebos ....................................................................................................................................................6 2. Scope of the Report..............................................................................................................................................................7 2.1 Purpose of the Report ..................................................................................................................................................7
    [Show full text]
  • Teachers' Retirement System of Louisiana: Comprehensive Annual Financial Report--A Component Unit of the State of Louisiana for the Fiscal Year Ended June 30, 1996
    DOCUMENT RESUME ED 405 307 SP 037 185 TITLE Teachers' Retirement System of Louisiana: Comprehensive Annual Financial Report--A Component Unit of the State of Louisiana for the Fiscal Year Ended June 30, 1996. INSTITUTION Teachers Retirement System of Louisiana, Baton Rouge. PUB DATE Oct 96 NOTE 138p. PUB TYPE Reports Descriptive (141) EDRS PRICE MF01/PC06 Plus Postage. DESCRIPTORS Elementary Secondary Education; Fringe Benefits; Higher Education; *Investment; Personnel Policy; *Retirement Benefits; *Teacher Employment Benefits; *Teacher Retirement IDENTIFIERS Financial Planning; Financial Reports; *Louisiana; *Retirement Planning ABSTRACT The annual Financial Report of the Teachers' Retirement System of Louisiana is divided into six main sections. The Introductory Section includes the letter of transmittal, names of the Board of Trustees, staff, and consultants; the organization chart; copy of certificate of achievement for excellence in financial reporting for 1995 financial report; summary of 1995-96 legislative acts; and a plan summary. The Financial Section includes the Independent Auditor's Report, General Purpose Finance Statements, Required Supplementary Information, and Supporting Schedules. The Investment Section includes reports on investment activity and policy, an Investment Summary, a list of investments, net earnings on investments and performance measures, annual rates of return, and Summary Schedule of Commissions Paid to Brokers. The Actuarial Section includes a summary of assumptions; Actuarial Valuation Balance Sheet; summary, reconciliation, and amortization of unfunded actuarial liabilities; and membership data. The Statistical Section provides data on vested and nonvested members, retirees, benefit recipients, benefit expenses, revenues, expenses, and participating employers. The final section outlines the Optional Retirement Plan, the Deferred Retirement Option Plan, and Option 5.
    [Show full text]
  • Government Pension Fund – Global Holding of Equities at 31 December 2007
    NORGES BA N K IN VESTME N T MA N AGEME N T ANNU A L REPO R T 2007 1 Government Pension Fund – Global Holding of equities at 31 December 2007 Europe Market value (NOK 1000) Ownership stake (per cent) Voting (per cent) Market value (NOK 1000) Ownership stake (per cent) Voting (per cent) AUSTRIA CROATIA Agrana Beteiligungs AG 7 370 0,092 0,092 Hrvatski Telekom dd 9 366 0,031 0,031 Andritz AG 44 606 0,261 0,261 A-TEC Industries AG 8 731 0,183 0,183 CYPRUS Austriamicrosystems AG 14 733 0,545 0,544 Bank of Cyprus Public Co Ltd 258 088 0,462 0,462 Austrian Airlines AG 4 904 0,115 0,115 Marfin Popular Bank Public Co Ltd 112 322 0,195 0,195 Boehler-Uddeholm AG 21 637 0,077 0,077 bwin Interactive Entertainment AG 23 914 0,346 0,346 CZECH REPUBLIC BWT AG 7 777 0,151 0,151 Philip Morris CR AS 23 736 0,364 0,364 CA Immo International AG 6 034 0,151 0,151 CA Immobilien Anlagen AG 34 729 0,328 0,328 DENMARK CAT Oil AG 4 798 0,082 0,082 A P Moller - Maersk A/S 921 847 0,363 0,433 Conwert Immobilien Invest SE 26 735 0,328 0,328 ALK-Abello A/S 13 504 0,209 0,230 Erste Bank der Oesterreichischen Sparkassen AG 729 685 0,599 0,599 Alm Brand A/S 7 943 0,125 0,125 EVN AG 62 871 0,219 0,219 Amagerbanken A/S 5 234 0,176 0,176 Flughafen Wien AG 19 884 0,151 0,151 Auriga Industries 3 080 0,123 0,175 Immoeast AG 173 045 0,355 0,355 Bang & Olufsen A/S 21 199 0,342 0,377 IMMOFINANZ AG 179 658 0,709 0,709 Bavarian Nordic A/S 3 610 0,148 0,148 Intercell AG 15 019 0,157 0,157 Biomar Holding A/S 2 573 0,112 0,112 Lenzing AG 3 475 0,033 0,033 Carlsberg A/S 97 282 0,199
    [Show full text]
  • Energy Efficiency National Partnership
    ENERGY EFFICIENCY NATIONAL PARTNERSHIP Company Name: 1) 3M INNOVATION SINGAPORE PTE LTD 2) 3M SINGAPORE PTE LTD 3) ABB PTE LTD 4) ABBOTT MANUFACTURING SINGAPORE PRIVATE LIMITED 5) ACP METAL FINISHING PTE LTD 6) ADM COCOA PTE LTD 7) ADVANCED MICRO DEVICES (S) PTE LTD 8) AFPD PTE LTD 9) AGILENT TECHNOLOGIES SINGAPORE PTE LTD 10) AIR PRODUCTS SINGAPORE PTE LTD 11) AIRFOIL TECHNOLOGIES INTERNATIONAL SINGAPORE PTE LTD 12) ALTUS LOGISTICS PTE LTD 13) ASAHI KASEI PLASTICS SINGAPORE PTE LTD 14) ASCENDAS FUNDS MANAGEMENT (S) LTD 15) ASCENDAS LAND (SINGAPORE) PTE LTD 16) ASE SINGAPORE PTE LTD 17) ASIA PACIFIC BREWERIES (S) PTE LTD 18) ASM TECHNOLOGY SINGAPORE PTE LTD 19) AVITRON PRIVATE LIMITED 20) AZEN MANUFACTURING PTE LTD 21) BAN CHOON MARKETING PTE LTD 22) BAXTER HEALTHCARE SA, SINGAPORE BRANCH 23) BAYER (SOUTH EAST ASIA) PTE LTD 24) BECTON DICKINSON MEDICAL (S) PTE LTD 25) BEECHAM PHARMACEUTICALS PTE LTD 26) BODYNITS INTERNATIONAL PTE LTD 27) BROADCOM SINGAPORE PTE LTD 28) BRUDERER PRESSES (FAR EAST) PTE LTD 29) CADBURY ENTERPRISES PTE LTD Page 1 of 8 Updated as of 01 December 2015 ENERGY EFFICIENCY NATIONAL PARTNERSHIP 30) CEL COATINGS INDUSTRIES PTE LTD 31) CEREBOS PACIFIC LIMITED 32) CEVA ASIA PACIFIC HOLDINGS COMPANY PTE LTD 33) CHEMICAL INDUSTRIES (FE) LIMITED 34) CHEMICAL SPECIALTIES (S) PTE LTD 35) CHEVRON ORONITE PTE LTD 36) CHEVRON PHILLIPS SINGAPORE CHEMICALS (PRIVATE) LIMITED 37) CIBAVISION ASIAN MANUFACTURING AND LOGISTICS PTE LTD 38) CITY DEVELOPMENTS LIMITED 39) CITY GAS PTE LTD 40) COCA COLA SINGAPORE BEVERAGES PTE LTD 41) COHERENT
    [Show full text]
  • Statement of Preliminary Issues H. J. Heinz Company (New Zealand
    ISBN 978-1-869456-24-5 Statement of Preliminary Issues H. J. Heinz Company (New Zealand Limited / Cerebos Pacific Limited 14 December 2017 Introduction 1. On 28 November 2017, the Commerce Commission (Commission) registered an application seeking clearance from H. J. Heinz Company (New Zealand) Limited (Heinz NZ) to acquire Cerebos Pacific Limited’s (Cerebos’) New Zealand food and instant coffee business, by acquiring 100% of the shares in Cerebos’ subsidiary Cerebos Gregg’s Limited (the proposed merger). 2. The proposed merger forms part of an international transaction through which Heinz NZ’s parent, the Kraft Heinz Foods Company, via local subsidiary companies, will acquire Cerebos’ New Zealand, Australia, and Singapore food and instant coffee business. 3. The proposed merger is subject to Heinz NZ undertaking to sell certain assets to a third party (the proposed divestment undertaking), including: 3.1 the recipes for Gregg’s tomato sauce, barbecue sauce and steak sauce products supplied in New Zealand; 3.2 the right to use the Gregg’s brand for tomato sauce, barbecue sauce and steak sauce in New Zealand; 3.3 the recipes for F. Whitlock & Sons Worcestershire sauce supplied in New Zealand; 3.4 the right to use the F. Whitlock & Sons brand for Worcestershire sauce in New Zealand; and 3.5 an offer to enter into co-packing agreements with any purchaser of the brands divested pursuant to the divestment undertaking, if requested. 4. The Commission will give clearance if it is satisfied that the merger will not have, or would not be likely to have, the effect of substantially lessening of competition in a market in New Zealand.
    [Show full text]
  • List of EENP Partners
    List of EENP Partners Company Name: 1) 3M INNOVATION SINGAPORE PTE LTD 2) 3M SINGAPORE PTE LTD 3) ABB PTE LTD 4) ABBVIE OPERATIONS SINGAPORE PTE LTD 5) ABBOTT MANUFACTURING SINGAPORE PRIVATE LIMITED 6) ACP METAL FINISHING PTE LTD 7) ACTSYS PROCESS MANAGEMENT CONSULTANTS PTE LTD 8) ADVANCED MICRO DEVICES (S) PTE LTD 9) AFPD PTE LTD 10) AGILENT TECHNOLOGIES SINGAPORE PTE LTD 11) AIR PRODUCTS SINGAPORE PTE LTD 12) AIRFOIL TECHNOLOGIES INTERNATIONAL SINGAPORE PTE LTD 13) ALTUS LOGISTICS PTE LTD 14) ARDENTEC SINGAPORE PTE LTD 15) ARLANXEO SINGAPORE PTE LTD 16) ASAHI KASEI PLASTICS SINGAPORE PTE LTD 17) ASAHI KASEI SYNTHETIC RUBBER SINGAPORE PTE LTD 18) ASCENDAS FUNDS MANAGEMENT (S) LTD 19) ASCENDAS LAND (SINGAPORE) PTE LTD 20) ASE SINGAPORE PTE LTD 21) ASIA PACIFIC BREWERIES (S) PTE LTD 22) ASM TECHNOLOGY SINGAPORE PTE LTD 23) AVITRON PRIVATE LIMITED 24) AZEN MANUFACTURING PTE LTD 25) BAN CHOON MARKETING PTE LTD 26) BARGHEST BUILDING PERFORMANCE PTE LTD 27) BASF SOUTH EAST ASIA PTE LTD 28) BAXTER HEALTHCARE SA, SINGAPORE BRANCH 29) BAYER (SOUTH EAST ASIA) PTE LTD 1 of 9 Updated as of 5 January 2018 List of EENP Partners 30) BECTON DICKINSON MEDICAL (S) PTE LTD 31) BEECHAM PHARMACEUTICALS PTE LTD 32) BODYNITS INTERNATIONAL PTE LTD 33) BROADCOM SINGAPORE PTE LTD 34) BRUDERER PRESSES (FAR EAST) PTE LTD 35) CADBURY ENTERPRISES PTE LTD 36) CCD (SINGAPORE) PTE LTD 37) CEL COATINGS INDUSTRIES PTE LTD 38) CEREBOS PACIFIC LIMITED 39) CEVA ASIA PACIFIC HOLDINGS COMPANY PTE LTD 40) CHEMICAL INDUSTRIES (FE) LIMITED 41) CHEMICAL SPECIALTIES (S) PTE LTD
    [Show full text]
  • Suntory Beverage & Food (2587)
    09 December 2014 Asia Pacific/Japan Equity Research Beverage (Food (Japan)) / MARKET WEIGHT Suntory Beverage & Food (2587) Rating NEUTRAL* Price (08 Dec 14, ¥) 4,385 INITIATION Target price (¥) 4,600¹ Chg to TP (%) 4.9 Stable earnings supported by sustained cost- Market cap. (¥ bn) 1,354.96 (US$ 11.15) Enterprise value (¥ bn) 1,585.96 cutting effects Number of shares (mn) 309.00 Free float (%) 35.0 Initiating coverage: We initiate coverage of Suntory Beverage & Food (SBF) 52-week price range 4,385 - 3,215 with a NEUTRAL rating and a ¥4,600 target price (potential return 4.9%). SBF, *Stock ratings are relative to the coverage universe in each which has the second-largest domestic soft drinks market share, appears analyst's or each team's respective sector. committed to building a strong business base. We see little risk of a slowdown in ¹Target price is for 12 months. sales momentum other than due to weather and other unavoidable externals. Research Analysts SBF’s international operations mainly consist of: (1) European business, where it is boosting margins by focusing on brands with high market shares, and Masashi Mori 81 3 4550 9695 (2) Southeast Asian business, where we see substantial growth potential, [email protected] especially in Vietnam. Amid intense competition in the global soft drinks market, Suntory is relatively strong in its focus regions, but we see little potential upside over our TP. Investment theme: We see prospects for a double-digit CAGR in OP over the next three years. The company has stepped up mainstay brand consolidation in all regions.
    [Show full text]
  • Contributions to Communities
    CSR Activities of Group Companies Contributions to Communities As a company rooted in related communities, the Suntory Group contributes to the growth of culture and lifestyle in communities in a global level. Château Lagrange S.A.S. Suncafé Ltd. Thirtieth Year of Our Participating in Management Trainings and Social Assistance Program in Coffee Country Hosting la Fête de la Fleur, the Prestigious Flower Festival Suncafé Ltd., a company roasting coffee beans and manufacturing various coffee and tea extracts has on-site training program for the harvesting and selection of Château Lagrange, located in a particularly superior red wine region of Medoc in Bordeaux, coffee beans with local farmers in Guatemala, a key supplier country of the main France, is classified as Troisème Crus (Third Growths) in the Bordeaux wine official ingredient for our BOSS brand of canned coffee. With ITOCHU Corporation's classification of 1855. In its impressive history, the name of chateau was found in a local subsidiary, UNEX (GUATEMALA), S.A., the company is working on to document dating back to 1631. We began participating in the management of the chateau provide various assistance programs to support the local communities. In 2013, in 1983. This was the source of much talk, as the French government had never before 11 participants from our group companies, including Suntory Beverage & Food allowed a non-Western business to participate in chateau ownership. Ltd. and Pronto Corp., visited Guatemala. Back then, everything, from the buildings and equipment to even the vineyards themselves, In addition to experiencing the differences that climate and terroir can have on Practicing harvesting the coffee cherries was in a desolate state.
    [Show full text]
  • The Protective Effect of BRAND's
    Journal of Health Science, 52(1) 17–23 (2006) 17 The Protective Effect of BRAND’S Essence of Chicken (BEC) on Energy Metabolic Disorder in Mice Loaded with Restraint Stress Hiroshi Kurihara,a Xin-Sheng Yao,a Hajime Nagai,b Nobuo Tsuruoka,c Hiroshi Shibata,c Yoshinobu Kiso,c and Harukazu Fukami*, c aInstitute of Traditional Chinese Medicine and Natural Products, Jinan University, 601, Huangpu Avenue West, Guangzhou, 510632, China, bBRAND’S Center for Health and Nutritional Sciences, Cerebos Pacific Ltd., 18 Cross Street #12-01/08, China Square Cen- tral, Singapore 048423, Singapore, and cInstitute for Health Care Science, Technological Development Center, Suntory Ltd., 5–2–5, Yamazaki, Shimamoto-cho, Mishima-gun, Osaka 618–0001, Japan (Received August 16, 2005; Accepted November 1, 2005) We investigated the effects of BRAND’S Essence of Chicken (BEC) on the basic metabolism of plasma lipids in mice loaded with restraint stress. When a lipid emulsion was intravenously injected into mice, 20 hr restraint stress prolonged the elimination of plasma triglyceride (TG). The results indicated that lipid metabolism was defi- nitely disrupted by stress, and that the use of TG as an energy source decreased. The plasma TG level was 320 ± 27 mg/dl 35 min after Intralipid® administration in restrained mice, while it was 253 ± 23 mg/dl in the restrained mice that were given 5 ml/kg of BEC. The improved plasma lipid metabolism was well explained by the finding that lipoprotein lipase in omental adipose tissue was remarkably improved by BEC. Our study shows that BEC improves metabolic dysfunction possibly by utilizing plasma lipids as energy sources and elevating lipoprotein lipase activity reduced by stress.
    [Show full text]
  • Prepared by SIAS, IIAS and SKBI Content
    Prepared by SIAS, IIAS and SKBI Content Message from Organisers Securities Investors Association (Singapore) (SIAS) 2 The Institute of Internal Auditors Singapore (IIAS) Sim Kee Boon Institute for Financial Economics (SKBI) Message from Sponsor RSM Ethos Pte Ltd 3 The Importance of Internal Audit 4 The Selection Process 5 The Winning Companies Winner : DBS Group Holdings Ltd 7 Runner Up : Singapore Airlines Limited 8 : Cerebos Pacific Limited 9 Merit : Oversea-Chinese Banking Corporation Ltd 10 Photo Gallery 11 2013 Internal Audit Excellence Award FAQ 12 Message from Organisers ointillism is a style of painting where the artist carefully places thousands of tiny Pdots of different colors come together. Each single dot on its own is meaningless. But seen together, the dots form a larger picture that captures the artist’s vision. Like the pointillist, the internal auditor produces a slew of recommendations and insights from his work across the organization. Each one may seem insignificant. But seen as a whole, the internal auditor’s work comes together to help the organization achieve its objectives and realize its vision. The board and the management receive assurance that the organization’s processes and controls are sound and robust through the internal auditor’s testing and evaluation. Stakeholders’ concerns about strategic, financial, operational and compliance risks are alleviated by up-to-date information gathered and communicated by the internal auditor. Constantly working on the ground, the internal auditor acts as the eyes and ears of the shareholders. While internal audit may be viewed as costly, the larger picture that emerges is that the function adds value to the organization through its independent, objective assurance and consulting activities, governed by the International Professional Practices Framework (IPPF) comprising standards promulgated by The Institute of Internal Auditors (IIA).
    [Show full text]