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HONG KONG: San Miguel denies privatisation plan

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San Miguel Brewery Hong Kong has issued a statement denying that it is due to be privatised. The brewer, whose controlling shareholder, Neptunia Corp. Ltd., is itself controlled by the Philippines' San Miguel Corp., said today (28 February) that it has not received any privatisation proposals from Neptunia.

San Miguel's shares have leapt by 25% over the last few weeks on speculation that it would be privatised.

"The company is not aware of the source of such speculation," the company said in a statement.

The brewer last week posted a yearly net profit of HK$11.6m (US$1.49m) for 2004, compared to a HK$32.8m loss in the same period a year earlier.


Sectors: Beer & cider

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