JournEy Every story begins with a journey <strong>and</strong> ours started more than a century ago. The paths we’ve travelled have led us to the road we are on. We’ve crossed seas to distant l<strong>and</strong>s, transforming ourselves into a global conglomerate with three businesses <strong>and</strong> a worldwide presence in over 30 countries. During the course of our journey we’ve always set high st<strong>and</strong>ards <strong>and</strong> lived up to them time <strong>and</strong> again. We inspire confidence in our br<strong>and</strong>s, developments <strong>and</strong> expertise, passionately striving to be the best at what we do <strong>and</strong> committing ourselves completely to deliver value to all our stakeholders. As we forge ahead, we will not shy from challenges, rest on our laurels or be confined in our imagination to deliver the inspirations of tomorrow. For we know that every step we take, our journey continues to gather momentum. <strong>Fraser</strong> <strong>and</strong> <strong>Neave</strong>, <strong>Limited</strong> & Subsidiary Companies Annual Report 2012 01 jOuRnEy OF OuR BuSInESSES FOOD & BEVERAGE SOFT DRInkS & DAIRIES Indonesia 1 Malaysia Singapore Thail<strong>and</strong> Vietnam 2 BEER Myanmar APB 3 Cambodia China Indonesia Laos Malaysia Mongolia New Caledonia New Zeal<strong>and</strong> Papua New Guinea Singapore Solomon Isl<strong>and</strong>s Sri Lanka Thail<strong>and</strong> Vietnam 7 19 Revenue (%) Profit Before Interest <strong>and</strong> Taxation (%) Fy2012 $5,570M By Business Segment (%) 5 1 36 32 PROPERTIES Australia Bahrain China France Hong Kong Hungary India Indonesia Japan Korea Malaysia New Zeal<strong>and</strong> Oman Philippines Qatar Saudi Arabia Singapore Thail<strong>and</strong> Turkey United Arab Emirates United Kingdom Vietnam note: 1 Licensing to third-party 2 9.5% stake in Vinamilk 3 The proposed disposal of the Company’s interests in Asia Pacific Breweries <strong>Limited</strong> (“APB”) <strong>and</strong> certain non-APB assets held by Asia Pacific Investment Pte Ltd (“APIPL”) was completed on 15 November 2012. The results in this section includes the Group’s share of APB/APIPL FY2011 <strong>and</strong> FY2012 results which were presented separately as Discontinued Operations in the Group Financial Statements Attributable Profit Before Fair Value Adjustment <strong>and</strong> Exceptional Items (%) Food & Beverage APB 3 Publishing & Printing Development Property Commercial Property Others F&B ($’000) 21 18 APB 3 ($’000) Fy2012 $952M 0 5 13 PuBlIShInG & PRInTInG Australia Chile China Hong Kong India Malaysia Singapore Thail<strong>and</strong> United States of America United Kingdom Publishing & Printing ($’000) Development Property ($’000) Fy2012 $472M Commercial Property ($’000) Others ($’000) Group ($’000) Profit Before Interest <strong>and</strong> Taxation FY2012 123,877 410,971 4,086 194,801 169,521 48,494 951,750 Growth from FY2002 (%) Share of Profit Before Interest <strong>and</strong> Taxation (%) 76% 522% -77% 46% 44% 78% 120% FY2012 13% 43% 0% 21% 18% 5% - In FY2002 17% 15% 4% 31% 27% 6% - 43 24 30 0 -1 15 32 $598M $68M Presence in over 30 Leadership positions in our key markets counTriEs note: 1 Other ASEAN: Cambodia, Indonesia, Laos, Myanmar, Philippines, Thail<strong>and</strong> <strong>and</strong> Vietnam 2 Oceania: Australia, New Zeal<strong>and</strong> <strong>and</strong> Papua New Guinea 3 Percentage (%) denotes growth from FY2002 to FY2012 02 J o u r n e y <strong>Fraser</strong> <strong>and</strong> <strong>Neave</strong>, <strong>Limited</strong> & Subsidiary Companies Annual Report 2012 03 Others REVENUE PBIT +112% +3616% singAPOre REVENUE $1,777M +25% PBIT $401M +41% MALAysiA REVENUE $1,032M +46% OceAniA2 REVENUE $647M +141% PBIT $63M +42% PBIT $79M +17% Other AseAn 1 REVENUE $1,517M +498% PBIT $341M +866%