SINGAPORE — Fraser and Neave (F&N) has agreed to not hold Heineken to an agreement struck last year to prevent the latter from entering the local soft drinks market, the Competition Commission of Singapore (CCS) said today (Nov 4). The CCS said that F&N’s voluntary undertaking is not an admission of liability on its part, and the commission has ceased its investigation without a finding of liability against either company. Food and beverage, property, publishing and printing conglomerate F&N completed its sale of Asia Pacific Breweries to Heineken in November last year, with a clause in the agreement that restricted the Dutch brewing company from the manufacture, distribution and sale of soft drinks for two years up to Nov 14 next year. In January, the CCS opened an investigation into the “Soft-Drinks Non-Compete Clause” of the agreement. The investigation is now closed, with F&N’s voluntary agreement to not enforce the clause with a signed undertaking to the commission. In a separate statement, F&N said that the agreement was mutually agreed with the CCS and took into account the fact that the clause in question would expire in about a year’s time in any case. The commission added that it will continue to closely monitor market practices in the local soft drinks market. The CCS is a statutory board established under the Competition Act (Chapter 50B) on Jan 1, 2005, to administer and enforce the Act. It comes under the purview of the Ministry of Trade and Industry and is empowered to investigate alleged anti-competitive activities, determine if such activities infringe the Act and impose suitable remedies, directions and financial penalties.