E-Malt.com News article: Malaysia: Beer duties not to be raised in the Budget 2012

Carlsberg Brewery Malaysia Bhd and Guinness Anchor Bhd (GAB) shares advanced on October, 1 after the breweries were spared from higher duties in the Budget 2012 proposals announced last week, on September, 28.

At 11.24am, Carlsberg was up 24 sen to RM11.74. There were 108,600 shares done.

GAB added 14 sen to RM15.40. There were 11,100 shares done.

The counters outperformed the FBM KLCI, which fell 0.78 of a point to 1,635.88. Turnover was 292.74 million shares valued at RM270.29mil. Declining counters beat advancers 245 to 189 while 236 counters were unchanged.

Lawmakers’ decision not to hike taxes for the brewery sector was expected as Malaysia’s beer excise tax in per hectolitre terms is already the highest in the Asia Pacific and the second-highest in the world.

Selling prices for beer and stout products are expected to be maintained.


03 October, 2012