APB

APB: Along with partner Heineken NV, grp plans to boost profitability in China by focusing on premium beer. Highlights that premium beer sells for 4x more than the regular brew in China. APB estimates China's consumption of premium beer to grow 12% annually through 2020 to 2.1b litres. We note that move could be seen as a positive move for Co, as it grows its Chinese mkt share and diversify from its reliance in Asean.