Malaysia: Heineken confirms price increases for certain selected products
Heineken Malaysia Bhd has confirmed it is going to increase prices of certain selected products come March 1, due to rising operating costs, The Edge Markets reported on February 18.
The selective price adjustment, it said in a statement on February 18, applies primarily to products that are in the keg format.
“We wish to clarify that the selective price adjustment applies primarily on the keg format. In Peninsular Malaysia, there is no increase in price for cans and bottles format for Heineken®, Tiger, Tiger Crystal, Guinness, Apple Fox, Strongbow Gold Apple, and Anglia Shandy. In East Malaysia, there is an adjustment for quarts (big bottles) for selected brands only,” it said.
It further clarified that the price of its Paulaner beer is only adjusted by 6.5% and not 20.25%, and that there is no price increase for Heineken 0.0.
The Edge Markets reported on February 18 that the brewer, which last raised prices of its beers by up to 5% last April, was going to raise prices for selected products from March 1 due to rising costs.
Last December, Heineken managing director Roland Bala had hinted that the brewer would increase its prices if necessary, and very selectively, when asked if there would be another round of price increase.
Shares of Heineken closed eight sen or 0.27% at RM29.66 on February 18, valuing the company at RM8.96 billion. Over the past year, the counter has surged some 36.7% from RM21.69.
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