Malaysia: Heineken continues to engage with government on resuming limited operations

Heineken Malaysia Bhd continues to engage with the government on the matter of resuming limited operations with minimal number of essential staff as and when this is possible, The Sun Daily reported on April 16.

The suspension of operations of its Sungei Way Brewery remains, with Heineken Malaysia closely monitoring the impact of the movement control order on the group’s operations and financial objectives.

“This major negative macro-economic development is having a significant impact on Heineken Malaysia’s business,” it said in a statement on April 16.

Heineken Malaysia’s management is mobilised to enable the company to face this crisis in the best possible way and to protect the long term potential of its brands and businesses.

“The group has a strong balance sheet and management is focusing on efforts to mitigate the impact to its business, on efficiencies and protecting cash flow. Management has identified and is implementing mitigating actions to manage costs and to reduce the effect of suspended operations of the brewery on the financial results.”

The company will provide more information on its mitigating actions in its 2020 first quarter financial report which is scheduled for release in May 2020.

“The lack of visibility on the end date of the Covid-19 pandemic means that it is impossible for us to estimate the financial impact of this at this stage,” it said.

Heineken Malaysia’s priorities remains the health and safety of its employees, customers and business partners in the market and in playing a constructive role supporting the government by ensuring full compliance with the relevant authorities’ requirements and guidelines as they work to contain the spread of Covid-19.

16 April, 2020