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HEINEKEN MALAYSIA REPORTS 1Q FY2024 RESULTS

By
Tan Heng Hong
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HEINEKEN Malaysia Kicks Off 2024 With An Encouraging Start

  • Revenue increased by 7% to RM789.17 million (1QFY23: RM740.22 million)
  • Profit Before Tax (PBT) increased by 12% to RM161.29 million (1QFY23: RM144.60 million)
  • Net profit increased by 11% to RM 122.48 million (1QFY23: RM109.93 million)

14 May 2024 – Heineken Malaysia Berhad (HEINEKEN Malaysia) announced its financial results for the first quarter ended 31 March 2024 (1QFY2024), delivering a robust performance and demonstrating resilience and adaptability in a dynamic market landscape.

In the first quarter, Group revenue grew by 7% to RM789.17 million compared to the same quarter in 2023. The increase is driven by effective execution of Chinese New Year campaign and strategic commercial initiatives during the quarter. Similarly, Group PBT rose by 12% to RM161.29 million compared to the same quarter last year. The growth was primarily driven by revenue growth, alongside effective revenue and cost management.

Commenting on the results, Roland Bala, Managing Director of HEINEKEN Malaysia, said, “Coming out of a challenging year in 2023, we are pleased with the encouraging start to 2024. Whilst our Q1 performance was positive, we remain cautious, in view of the volatile trading environment and macroeconomic concerns. We will continue to build on this momentum by focusing on our EverGreen priorities, emphasising superior growth, consumer-centricity, cost efficiency, sustainability, digitalisation and reinforcing a high-performance culture. We are grateful for the unwavering support from our business partners and consumers, which has been pivotal in navigating the complexities of the past year.”

“The success of our marketing investments, particularly the ‘Cheers to a Bolder Tomorrow’ Chinese New Year Campaign led by Tiger Beer, has been instrumental in achieving top-line growth. This, along with innovative initiatives from the Heineken® and Guinness brands, underscores our dedication to creating memorable experiences for our consumers.”

On outlook, Roland shared, “Our Q1 results are encouraging, yet we approach the future with prudence, mindful of the ongoing volatility in the trading environment and broader macroeconomic factors. Looking ahead, the Group will continue to stay agile and focused in navigating external challenges to deliver a commendable performance this year. Our commitment to take a long term view to build a sustainable business stands, as we continue to focus on delivering our EverGreen strategy to future proof our business.”

HEINEKEN Malaysia’s key EverGreen priorities include:

  • Drive superior growth – With consumer centricity, we shape and lead the premium category and continue investing behind our brands.
  • Fund the growth – Cost and value to drive efficiency to enable reinvestments into our brands and business.
  • Raise the bar on sustainability and responsibility – Full commitment to deliver on our ambition to become net zero carbon in Scope 1 & 2 by 2030 and the full value chain by 2040.
  • Become the best connected brewer – Accelerate digital and technology to create a Unified Customer Ecosystem with a customer and consumer-first approach.
  • Unlock the full potential of our people – Promote a high-performance culture that boosts our strategic capabilities, nurture the best talents, and foster an organisation where people thrive.

The Board of Directors does not recommend any dividend in respect of the quarter ended 31 March 2024.

The Group welcomes the stance taken by the Government not to increase excise duties on beers in its Budget 2024, as any hike in excise rates will drive greater demand for illicit alcohol. HEINEKEN Malaysia regards illicit alcohol as a serious issue and remains committed to supporting the Government in mitigating illicit trade through holistic efforts, including strengthening enforcement and raising greater awareness in the market.

For more information on HEINEKEN Malaysia and the Group’s initiatives, please visit www.heinekenmalaysia.com.

KFC and Pizza Hut Malaysia Champions Education for Underserved Students with RM2 Million Pledge to Fight Child Hunger with Kempen Sehati

By
Tan Heng Hong
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(From Left) QSR Brands' Group Chief Communications Officer Cik Anis Yusof handing over the RM2 million contribution to Mercy Malaysia's Chairman En Fawwaz Amiruddin, witnessed by Sk Taman Medan's Guru Besar Khairul Nizal Abu Bakar

Feed to Educate programme in collaboration with Charity Right in 28 schools across Malaysia.

PETALING JAYA, 14 MAY 2024 – QSR Brands who operates KFC Malaysia and Pizza Hut Malaysia today announced “Kempen Sehati” in efforts to address child hunger and education disparities among underprivileged students. This nationwide campaign, backed by a RM2 million pledge, aims to empower underserved students to have equal access to food, education and a brighter future.

The collaboration with Charity Right under the Feed to Educate programme is a holistic initiative that provides food assistance and measures direct outcomes for students by increasing their attendance rates, school grades in evaluations, and feedback sessions with their parents. Starting June 2024, 1,400 underserved students across 28 schools in Malaysia, including Sabah, Sarawak and Labuan will receive monthly food packages to provide them with the nutrients they need for a comfortable school experience.

Students of SK Taman Medan enjoying KFC and Pizza Hut for evening tea

Through “Kempen Sehati”, the goal is to ensure that participating students receive their monthly food supply in turn encouraging them to stay in school, focus on their studies and improve their overall education experience, giving them equal opportunities to grow and achieve their academic goals.

Chairman of QSR Brands Tan Sri Jamaludin Ibrahim said, “Community engagement is an integral component in our business, and we take pride in cultivating a culture of care among our employees and our role as a corporate citizen is to contribute positively to the society by enhancing the quality of life in the communities we serve, especially the underprivileged and marginalised.”

Chief Executive Officer and Managing Director of QSR Brands Nehchal Khanna said, “We remain steadfast in our commitment towards nation building and community enrichment. This initiative is more than just providing food, we are investing in the future of Malaysia through their wellbeing and education. It is about empowering young minds with the foundation they need to overcome social and economic barriers to pursue their dreams and aspirations.”

Chairman of Mercy Mission Malaysia Fawwaz Aminuddin said “The synergy between Charity Right, KFC and Pizza Hut is evident in our shared vision of social service. All parties are united in their commitment to create an impactful aid to support national educational objectives, promote the United Nation’s SDG’s and create a sustainable community.

“Together we will work to break the cycle of poverty and empower communities nationwide through education and food aid,” he said.

Kempen Sehati is one of the many community development and enhancement programmes brought by QSR Brands through KFC and Pizza Hut. Both brands have been actively contributing to underprivileged communities across Malaysia for more the 14 years. KFC Malaysia, through the Add Hope and KFC Feeding Programme, has contributed more than RM32 million since 2007 while Pizza Hut Malaysia continues to support cancer patients with the Hut to Heart and Sayangimu programmes.

Kempen Sehati was announced by QSR Brands Chief Communications Officer, Anis Yusof who said “QSR is privileged to have the support from the Ministry of Education and partner with Charity Right that promotes social cohesion and reduce inequality through our Kempen Sehati Feed to Educate. We truly believe that bringing people from different backgrounds together and fostering a sense of community building can help create a positive and lasting impact to all Malaysians.”

 

New Seonmul Rainbow Paradise Soju piques consumer interest

By
Tan Heng Hong
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Thailand’s Siam Winery, the maker of Seonmul soju, has recently pique consumer interest with the new Seonmul Rainbow Paradise Soju, which comes in a mysterious flavour. Flavoured soju with an undefined flavour in a new concept for the soju category in Thailand. This limited-edition taste sensation will interest consumers who are curious to find out how it truly taste like.

New Amaou flavoured oat milk by Goodmate for the Thai market

By
Tan Heng Hong
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The Goodmate oat milk brand of Chabaa has introduced for the first time a new Amaou flavoured oat milk in the local Thai market. The latest Goodmate Strawberry Amaou Oatmilk uses seasonal Japanese Amaou strawberries to increase the appeal and improve the taste of its oat milk. The oat milk is available at all 7-Eleven branches in Thailand.

New Amazon Black Honey Lemon provides sour, sweet and refreshing taste

By
Tan Heng Hong
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Thailand’s Cafe Amazon has added a new flavour to its RTD coffee range. The latest Amazon Black Honey Lemon offers consumers with the perfect sour, sweet and refreshing taste. The new RTD coffee is now available at every 7-Eleven branch nationwide.

In a separate development, the coffee chain has unveiled Amazon Mix Green Milk Tea for consumers to prepare their milk tea at home. Amazon Mix Green Milk Tea is available at Cafe Amazon stores and online store.

Nescafe Honey Lemon Coffee x Sundae Kids offers Gen Z vibes

By
Tan Heng Hong
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Nestlé Thailand has unveiled a Gen Z-focused limited edition Nescafe Honey Lemon Coffee in Thailand. This special flavour features the artwork of Sundae Kids, providing the vibes that attract young coffee consumers. The unique combination of the sweet and citrusy flavours honey and lemon adds to the appeal of the latest RTD coffee.

Nescafe Honey Lemon Coffee sells at THB 29 per can at 7-Eleven.

 

Nestlé Thailand goes big with ice cream with launch of La Frutta Five Wonder

By
Tan Heng Hong
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Nestlé Thailand has launched La Frutta Five Wonder Fruit Ice Cream, a five-coloured fruit flavoured, dual-layered ice cream with diced green apples for the fun texture. This low-fat ice cream only has 60kcal. The five fruits are pineapple, orange, strawberry, grape and green apple.

The company has also given the existing La Frutta Lychee Flavoured Yogurt Ice Cream a new look and appointed two new presenters, Daou and Earn, to promote the La Frutta ice cream. With the latest campaign, Nestlé hopes to spur sales of La Frutta to reach the THB 650 million mark in Thailand in 2024. 

The ice cream sells at THB 15 at 7-Eleven.

“BTG” launches “Betagro Ventures,” a new corporate venturing arm focused on incubating new foodtech & agritech ventures as well as investing in startups through a US$30 million fund

By
Tan Heng Hong
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Image credit: Betagro
  • Betagro PLC launches its corporate venturing arm – Betagro Ventures – covering both venture capital (VC) investments and venture building (VB) of new businesses
  • The US$30mn venture fund will invest global in early-stage foodtech and agritech startups with distinctive technologies
  • Betagro Ventures will seek to drive innovation and establish strategic partnerships across the Betagro ecosystem

01 May 2024 – Betagro Public Company Limited, or BTG, Thailand’s leading integrated food company, has launched Betagro Ventures, a new subsidiary focused on spurring innovation across the BTG ecosystem. Betagro Ventures will operate on three core strategies: (1) improving consumers access to safe & high-quality foods, (2) developing new sustainable sources of protein, and (3) creating sustainable agro-industrial-food supply chains. These strategies will be achieved through targeted venture capital investments and the incubation of internal startups.

The US$30 million venture fund will invest in early-stage startups that are developing new innovations aligned to Betagro Ventures’ core strategies. With these direct investments, Betagro Ventures will seek to leverage the broader Betagro ecosystem to support startups in providing access to end-consumers, domain expertise and strategic partnership opportunities.

Complementing the venture fund, Betagro Ventures will also focus on incubating and scaling internal business ventures. Through combining BTG’s deep agrifood industry expertise with new entrepreneurial talent, Betagro Ventures aims to create new resilient ventures that can complement BTG’s core businesses.

Mr. Chayadhorn Taepaisitphongse, Chief Strategy and Innovation Officer of Betagro Public Company Limited (BTG) and Managing Director of Betagro Ventures, stated that “today’s traditional business models face challenges from technology disruption and rapidly changing consumer behaviors. Yet, opportunities exist to embrace innovation by collaborating with startups to develop and scale new technologies. BTG believes in the Open Innovation model that promotes collaboration between internal and external stakeholders to accelerate new technologies that can better serve today’s ever-changing market.”

“Betagro Ventures will be a key mechanism in propelling BTG’s businesses into a new era of sustainable growth,” added Mr. Chayadhorn. “Through both venture investments and venture building efforts, Betagro Ventures hopes to develop new innovations that ensure access to high-quality and safe foods that meet the changing needs of our consumers, thereby elevating Thailand’s and ASEAN’s food industry to new heights.”

Scotch collaborates with fine dining premise Cross to promote bird’s nest among the young

By
Tan Heng Hong
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Image credit: Cross_bkk

Bird nest drink maker Scotch Industrial (Thailand) Co., Ltd. has recently collaborated with Cross, a popular contemporary Chinese cuisine fine dining restaurant that is often booked out months ahead. For April 2024 and May 2024, Cross will create dishes featuring Scotch’s premium bird’s nest products. 

Image credit: Cross_bkk

The objective is to expand the consumer base for bird’s nest, which is currently more for gift giving and for the elderly. Bird’s nest producers need to future-proof the category by promoting bird’s nest consumption among the younger generation.

According to the company, 90% of its revenue comes from the mass market and 10% from the mid-to premium segment. Scotch has 40% of Thailand’s overall bird’s nest market, with the total market in 2023 valued at THB 3 billion, up by 2%. 

To reach out to more users, Scotch has also recently launched Beauti Shot with 5,000mg of collagen. This RTD dietary supplement is mixed with malva nut.

Thai President Foods rolls out Takoyaki and Beef Panang flavoured instant noodles

By
Tan Heng Hong
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Image credit: 7-Eleven Thailand

Thai President Foods Plc has unveiled its latest two instant noodles for the Thai market under the Oriental Kitchen range. The first is the Japanese-inspired Takoyaki Flavour, while the second is the locally-inspired Beef Panang Flavour for consumers interested in Thai food. Get yours now at 7-Eleven. 

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