Due to uncertainties in the economy, continuous competitive pressure and illicit trade.
Heineken Malaysia Managing Director Roland Bala , Finance Director Szilard Voros and Corporate Affairs & Legal Director Renuka Indrarajah during their 2019 full-year financial results announcement, February 21, 2020. - GLENN GUAN/The Starexpects the business environment to remain challenging for the rest of the year amidst uncertainties in the economy, continuous competitive pressure and illicit trade.
Heineken Malaysia managing director Roland Bala said the ongoing trade tensions between the United States and China and the effect from the coronavirus outbreak may have some impact, coupled with the rising cost of living and sluggish income growth. “We continue to see the business environment as challenging but the competition keeps us awake and fit as a business and of course with all that, we also have various other economic and political uncertainties, ” he said at a briefing on the group’s Q4 results.The contraband market is still a challenge for the brewer but Roland said the group had started to see improvements since 2018 with the heightened enforcement by the government.
“In 2019, our focus was on winning with our core brands and big innovations. With the launch of Heineken 0.0 and Tiger Crystal, we are well positioned to address the needs of both today and tomorrow’s consumers, ” Roland said.
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