KUALA LUMPUR (March 28): Heineken Malaysia Bhd and Carlsberg Brewery Malaysia Bhd are set to increase prices of their beer products by around 5%, as reported by Sin Chew Daily.

The Petaling Jaya Coffeeshop Association chairman Keu Kok Meng confirmed that retailers received official notices of the price hike from the two brands three weeks ago.

"According to the notice, the price hike for beer products is attributed to increasing operational and ingredient costs," Keu said.

He noted that the last time beer prices were raised was in July 2022, where prices were increased by some 6%.

Keu added that the coming increase in beer prices would place a greater strain on coffee shops, necessitating retailers to transfer the costs to customers.

Heineken Malaysia's product portfolio includes Heineken, Tiger Beer, Guinness, Strongbow, Anchor, Apple Fox, Kilkenny, Edelweiss, and Anglia Shandy.

The group closed its FY2023 with a 6.3% dip in annual net profit to RM386.8 million from RM412.82 million in FY2022, as revenue fell 7.61% to RM2.64 billion from RM2.86 billion.

Meanwhile, Carlsberg Brewery Malaysia's products include Carlsberg, 1664, Somersby, Sapporo, Connor’s, Skol, and Danish Royal Stout.

The group's full-year net profit in FY2023 was up 5.11% to a record high of RM333.24 million against RM317.05 million a year ago. However, revenue declined 6.28% to RM2.26 billion compared with RM2.41 billion in FY2022.