Once in a while, we have a huge corporate saga that really deserves a book. But that's gonna take years to write. So meanwhile, I write what I can. Most avid investors in Singapore would have guessed what's this about. Well, we are going to discuss F&N, APB and Tiger Beer, Thai Beverage with Chang Beer, Heineken and Kirin Holdings of Japan. The formal introduction of the players: Star: Heineken Tiger: F&N and Asia Pacific Breweries Elephant: Thai Beverage and Chang Beer Giraffe: Kirin Holdings The story: Once upon a time, there was a Tiger, an Elephant and a Giraffe. Ok let's skip that and get serious. In 1884, F&N was founded by John Fraser and David Neave. Geez, this is like before our grandparents were born and the Chinese in Singapore then had pigtails! Anyways, nothing much happen then until 1931 when F&N decided to form a JV with ......