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Global hop market

A local alternative to mass beer suggested by independent brewers has been successful and is now altering the global market. Beer is becoming more diversified, so transnational companies have to accept the new game rules and to switch focus to young and fast growing markets. All these processes increased the demand for aroma and bitter hop as well as their acreage expansion on two continents. However now there appeared a downward trend of alcohol consumption in the world, so even special sorts can soon turn to be sufficient. In this connection the dynamic American hop market is already facing some problems. EU hop producers have become more cautious, they are not racing to exceed the demand and look forward with more confidence, judging by the contract terms. 

Hop Market in Russia

Germany still dominates the Russian market, yet over the recent two years one has been able observe a continuous success of Czech hop suppliers. Their expansion and growing popularity of hops from the United States became the drivers of supplies growth in 2016 despite the preceding modest harvest crop in the EU, as well as the factor of relative stability in 2017. In this connection, in 2017, the ratio of the varieties continued to shift towards the aroma ones, and the supplies of Magnum hop and other alpha varieties were reduced. However, the import of bitter hop pellets is partially replaced by extracts, especially from the major beer manufacturers. Total volumes of alpha acid supplies, according to our estimation, decreased by approximately 5% and returned to the level of 2015. Barth Haas Group continues dominating the hop products market; HVG also increased its weight. At the same time, Morris Hanbury significantly reduced the supplies in 2017.

Singapore’s Court of Appeal dismisses appeals by two European banks against Asia Pacific Breweries

Asia Pacific Breweries Pte Ltd on Thursday said that the Singapore Court of Appeal has ruled in favour of APBS in respect of the appeals filed by Skandinaviska Enskilda Banken AB (“SEB”) and Bayersiche Hypo-und Vereinsbank Aktiengesellschaft (“HVB”) against the Singapore High Court ruling dated 1 September 2009. The Court of Appeal upheld the High Court’s ruling rejecting all claims made by SEB and HVB against the company, and ordering SEB and HVB to pay the Company its legal costs for defending the action.

The abovementioned Suits arose from claims that were part of the approximately S$117 million, which Chia Teck Leng fraudulently obtained from four banks, SEB, HVB, Mizuho Corporate Bank Ltd (“Mizuho”) and Sumitomo Mitsui Banking Corporation (“Sumitomo”). Mizuho and Sumitomo withdrew their claims with costs payable to APBS during the course of the trial.

Commenting on the favourable ruling, Mr Roland Pirmez, CEO of Asia Pacific Breweries Limited said, “We are very pleased with the Court’s decision, which strongly reinforces the Company’s stand that APBS was itself a victim of fraud and is not responsible to repay loans which it had not authorised in the first place and which it knew nothing about. We are glad that this legal suit has come to an end with a final judgment that completely vindicates APBS.”

Pursuant to the judgment of the Court of Appeal, which is final, SEB and HVB’s claims of approximately USD 27 million and USD 32 million respectively against APB have been dismissed save for a ruling that APBS has to return to SEB a sum of S$347,671.123 that was transferred from SEB to APBS’s account. APBS did not dispute that this sum had to be returned to SEB in the SEB appeal. SEB and HVB have to pay APBS its legal costs for defending their respective High Court suits as well as appeals.

APBS would like to thank its lawyers, Drew & Napier LLC, for their counsel and efforts in defending the claims and appeals. APBS’s business is operating as usual and has not been in any way affected by the legal suits.

24 мая. 2011



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