Indonesia And Vietnam To Lend The Strongest Support To APB's Growth

Trans-Asian brewer Asia Pacific Breweries (APB)' full-year prospects look fairly promising after it reported strong earnings and sales growth for the financial year ending September 2011. Thanks to its extensive geographical spread in Asia, APB was able to tap into the underlying robust dynamics in the high-growth beer markets of Vietnam, Thailand, Cambodia, Laos and Indonesia. Over the coming quarters, we believe these high-growth markets, which are relatively insulated from the global headwinds, will continue to provide the strongest support to APB's headline growth. However, the strength of the Singapore dollar against regional currencies will remain a key risk to APB's 2012 earnings outlook.

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