The trend of complication of Russian beer market is going on and in several directions at the same time. The range has got wider, the import and small segments are growing, namely craft beer, alcohol-free beer and special flavor beer. At the same time, all ex-mega brands and light lagers by Russian brewers are experiencing a decline of their shares. AB InBev Efes, Heineken, MBC and Pivzavod Trekhsosenskiy have exceeded the market, Carlsberg was developing slower than the market and Ochakovo as well as some other mid-sized breweries have been cutting down their volumes. To a big extent brewers’ performance was connected to their ability to reach agreement with networks, sacrifice their margin and enter new markets. Craft brewers are facing a serious danger of producers’ registration introduction – de facto licensing. ...
The global outlooks of the legal market of cannabis are excellent. It is possible to simultaneously imagine dry law repeal and craft brewing boom but not in one but in several consumer categories. For alcohol is contained in liquids and cannabis derivatives can be in three physical forms. The value of legal market of cannabis and its products can reach 10% of the world beer market in five years, and in 2030-2040 even reach the same scope provided the current rates of legalization and development of market infrastructure remain at the same level. Cannabinoids are actively integrating into the food industry from chewing gum to beverages deforming the pharmaceutical and alcohol markets, they influence the trends of healthy lifestyle and beauty. ...
Beer market of Kazakhstan acquired both traits of East European countries and South Eastern Asia taking a transitional position between them by many criteria and consumption style. Yet there is a positive trend in beer production which differs Kazakhstan from most of the neighboring countries. The market has remained consolidated in the hands of two international players because of its small size. However, it faces dynamic processes such as fast growth of draft beer sales, up and downs of regional companies and Carlsberg Group’s ultimate expansion. Excessive mainstream segment has declined over the recent years, yet, Zhigulevskoe and national brands with regional links have yielded their positions to a range of new products. In our review special attention was paid to regional analysis of the markets. In 14 regions of Kazakhstan we compared the companies’ positions, the market price segmentation and DIOT channel development. Besides we have compared the beer market of Kazakhstan to neighboring countries. ...
United Breweries, Sanofi India and Bayer CropScience boards to go with Vijay Mallya as chairman
Several independent board members of these companies, speaking on condition of anonymity, told ET that until they receive any government or regulator's notice questioning Mallya's position they have no plans to ask him to step down as there are no complaints of corporate governance issues or irregularities against the board director.
"The functioning of the companies are smooth and there are no valid issues to ask him to step down," said an independent board member of United Breweries, now majority owned by Dutch beer maker Heineken.
Mallya, whose now defunct Kingfisher AirlinesBSE 3.03 % owes more than Rs 7,000 crore to bankers, did not respond to an emailed questionnaire from ET as of press time Wednesday. Some banks have declared Mallya 'wilful defaulter' and initiated loan recovery proceeding against him. They also approached the Supreme Court to prevent the businessman from travelling abroad because they feared he would settle abroad.
Some directors said the term wilful defaulter has come into usage recently and it is not clear whether it allows banks to stop lending to companies that have a wilful defaulter on its board.
GA Tadas, executive director at IDBI BankBSE 1.60 %, however, said companies have to take action once it is public that one of their board members is a wilful defaulter. "In case a company is non-compliant and still retains a wilful defaulter on its board, then it is for (market regulator) Sebi and RoC (Registrar of Companies) to act against such companies for noncompliance," he said.
Tadas, however, said it is not a problem to lend to a company which has a wilful defaulter on board. Mallya is currently chairman of UB, drug maker Sanofi, and Bayer CropScience, agricultural subsidiary of German chemical and pharmaceuticals giant Bayer AG.
A Bayer spokesperson denied comment on this topic, while an independent director at the firm said any decision on Mallya has to be taken by the German parent. A Sanofi India spokesperson said the board of directors will study the implications of the Sebi notification when it is published, and take action as deemed necessary. Shriram Subramanian, institutional shareholder activist and founder & MD of investor advisory firm Ingovern, said wilful defaulter is not a legally accepted term to debar Mallya from the boards of these companies.
"If Sebi notifies a policy that wilful defaulters cannot be board members then the board will have to ask him to gracefully step down," he said. "Now if the board perceives a reputational risk, it is another issue altogether," Subramanian said.
Several independent board members ET spoke to on these boards, especially United Breweries, said there are no corporate governance issues or irregularities committed by Mallya to ask him to step down. "Reputational risks arises if a regulator or government body challenges Mallya's role on our boards or if Mallya has done some financial impropriety and we do not take note of it, which is not the case now," said an independent board member.
An official at United Breweries, speaking on condition of anonymity, said it will examine the issue if a leading bank such as the State Bank of India "sends a letter saying that it will not lend to companies that have a director as a wilful defaulter".
17 Мар. 2016