Italian Chaos Jolts Markets, US Trip Notes…
My view in the 17th May note that the ‘bond vigilantes’ would be unleashed on Italy has transpired even faster than I expected with the 10-year...
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With ‘Brand Building’ Ad Era Over, Can Food Inflation Rescue FMCG Margins?
I’ve been underweight consumer staples on valuation and business model disruption risks since 2015 and the sector has de-rated significantly...
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Sector Briefing: Beer in Vietnam (Prospects) - Part 3
Beer is expected to register a positive total volume performance over the forecast period, although at a slower pace than in 2016. The expected...
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Sector Briefing: Beer in Vietnam (Trends) - Part 1
Beer increases by 8% in total volume terms in 2016, to reach 3,636 million litresConsumers increasingly turn to branded beer for its quality and...
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Tsingtao Brewery: Christmas May Not Come
A few points on the Tsingtao Brewery Co Ltd H (168 HK) 6-month earning report: sales grew 2.15% Account receivable increased by 81.37% The total...
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