Increase in excise duty for alcohol seen unlikely in Budget 2020

On year-to-date, shares in both listed breweries on Bursa Malaysia, namely, Carlsberg and Heineken Malaysia Bhd had done very well raising more than 32% and 21% respectively to RM25.14 and RM24.10.

PETALING JAYA: Cheers to brewery companies as the government is unlikely to increase the excise duty for alcohol in the upcoming Budget 2020 announcement next month, according to CGS-CIMB Research.

In a report yesterday, the research house said a hike in excise duty for beers was unlikely to happen as Malaysia has the second highest excise duty on beer in the world.