Heineken Malaysia downgraded to hold

Managing director Hans Essadi said while it remained leery on the external environment, it would continue to strive to achieve solid performance in the next few quarters.

PETALING JAYA: Brewer Heineken Malaysia Bhd has been downgraded to a “hold” after reporting a weaker first quarter ended March 31, stemming from soft consumer sentiment.

Analysts who downgraded the stock cited the recent share price run as also another factor for the downgrade.