Asia Pacific Breweries Dissolves Tiger Cananda
The dissolution of TCI is not expected to have a material effect on the net tangible assets per share or earnings per share of the Company for the current financial year.
04 Aug 2009 Asia Pacific Breweries Limited wishes to announce that Asia Pacific Breweries (Singapore) Pte Ltd (APBS), a wholly owned subsidiary of the Company, has voluntarily dissolved Tiger Cananda Inc (TCI). TCI is a wholly owned subsidiary of APBS and was set up in 2008 to carry on the business of importing Tiger beer for distribution in the Province of Quebec, Canada.
However, TCI did not commence operations and due to a change of Tiger Beer's distribution route, the Company does not foresee the need to commence operations of TCI in the near future. Tiger Export Pte Ltd, a wholly owned subsidiary of the Company, will continue to export Tiger beer to Canada.
The dissolution of TCI is not expected to have a material effect on the net tangible assets per share or earnings per share of the Company for the current financial year. None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the above transaction.
