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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  Carlsberg Brewery Malaysia    CARLSBG   MYL2836OO004

CARLSBERG BREWERY MALAYSIA

(CARLSBG)
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Malaysia does U-turn on virus relaxation for Heineken, Carlsberg after backlash

04/06/2020 | 03:47am EST
Glasses of Heineken beer are seen at a restaurant in Hanoi

Malaysia's cabinet on Monday revoked approvals for brewers Heineken and Carlsberg to restart operations during month-long curbs on travel and non-essential business after a backlash in the Muslim-majority nation.

The decision to allow Heineken Malaysia and Carlsberg Brewery Malaysia to operate during the virtual lockdown had angered some people in the country that has the highest number of coronavirus infections in Southeast Asia. Malaysia has so far reported 3,662 cases, with 61 deaths.

"In a special cabinet meeting today chaired by the prime minister, we have decided to rescind their approval to operate," Minister of Defence Ismail Sabri told a news conference, saying the matter had gone viral on social media.

Heineken Malaysia said on Sunday it had recently received approval to resume limited operations with a minimal number of workers during the restrictions, which run until mid-April.

"We have an obligation to ensure continuous supply of our products, maintain the employment of our people and to contribute positively to the economic recovery of our nation," it said in a statement on its website.

Its stock, which has lost a fifth of its value this year, rose more than 1% on Monday. Carlsberg Brewery shares were largely flat, in line with the wider market.

"If producing Heineken is deemed 'essential services' then I can think of another 200 services more worthy of that designation," opposition politician Zaid Ibrahim said on Twitter.

Calls made to the offices of Heineken Malaysia and Carlsberg Brewery went unanswered.

(Reporting by Joseph Sipalan and Krishna N. Das; Editing by Simon Cameron-Moore and David Evans)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED -0.64% 1.555 End-of-day quote.-0.32%
BYD COMPANY LIMITED 2.50% 254.6 End-of-day quote.25.30%
CARLSBERG BREWERY MALAYSIA 0.09% 21.76 End-of-day quote.-6.37%
HEINEKEN MALAYSIA -0.17% 23.06 End-of-day quote.0.17%
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Financials
Sales 2020 1 720 M 426 M 426 M
Net income 2020 174 M 42,9 M 42,9 M
Net Debt 2020 12,8 M 3,18 M 3,18 M
P/E ratio 2020 38,0x
Yield 2020 2,20%
Capitalization 6 653 M 1 645 M 1 646 M
EV / Sales 2020 3,88x
EV / Sales 2021 3,26x
Nbr of Employees 666
Free-Float 45,5%
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Technical analysis trends CARLSBERG BREWERY MALAYSIA
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 23,20 MYR
Last Close Price 21,76 MYR
Spread / Highest target 21,8%
Spread / Average Target 6,62%
Spread / Lowest Target -8,09%
EPS Revisions
Managers and Directors
NameTitle
Stefano Clini Managing Director & Executive Director
Ah Wah Toh Independent Non-Executive Chairman
Chee Keat Lim Chief Financial Officer
Roland Arthur Lawrence Non-Independent Non-Executive Director
Hoy Ping Chew Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
CARLSBERG BREWERY MALAYSIA-6.37%1 645
ANHEUSER-BUSCH INBEV-3.91%131 442
HEINEKEN N.V.-3.44%61 684
AMBEV S.A.-3.19%43 658
CONSTELLATION BRANDS, INC.3.59%43 607
BUDWEISER BREWING COMPANY APAC LIMITED-5.66%41 184