Beer stocks dip on upcoming 10% excise duty hike
Investors of brewery stocks shrugged off the 10% excise duty hike on alcoholic beverages proposed under the 2026 budget.
Heineken Malaysia Bhd and Carlsberg Brewery Malaysia Bhd’s shares dipped slightly today following the budget announcement last Friday.
Heineken’s share price closed 1.92% or 40 sen lower at RM20.40, valuing the stock at RM6.16 billion.
Carlsberg’s shares dropped just 0.84% or 14 sen to RM16.52 at the close, giving the brewer a market capitalisation of RM5.05 billion.
However, the shares of both companies have fallen significantly year to date with Heineken declining 17.6% while Carlsberg is down 20%, with current valuation levels below historical averages.
Some analysts believe the impact of the excise duty hike has already been priced in, given the steady drop in their shares since May on tax hike…
