11: FRASER & NEAVE
The venerable 133 year old Fraser & Neave (F&N), one of Singapore’s oldest companies, is no longer a Straits Times Index (STI) constituent; Hutchison Port Holdings Trust replaced F&N in April 2013. Nevertheless, the evolution of F&N from a single business company selling beverages to Singapore’s clubs, hotels and residences to a home grown conglomerate with interests in food & beverage, breweries, real estate and publishing and printing and finally to two distinct entities, that overseas companies own, highlights a few interesting issues.