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KUALA LUMPUR: The sale of contraband alcohol is like corruption and should be wiped out as it has cost the Government RM84mil in revenue losses from middle of last year to middle of this year, said Malaysian International Chamber of Commerce and Industry (MICCI).
The authorities are probing senior Customs officers said to have millions of ringgit in their bank accounts in a crackdown on cigarette and alcohol smuggling in Sabah. They have also nabbed two smuggling kingpins while 69 bank accounts linked to Customs personnel there have been frozen pending investigations.
PETALING JAYA: More than 530,000 litres of contraband beer and liquor have been pulled off the shelves in Selangor stores as the Customs Department moves to cripple Malaysia’s illicit alcohol market.
KUALA LUMPUR: The planned change of the legal purchasing age of alcohol from 18 to 21 might be fruitless if proper enforcement of contraband is not done, said the Confederation of Malaysian Brewers Berhad (CMBB)
KUALA LUMPUR: CIMB Equities Research is maintaining its Overweight call on the brewer sector due to its defensive nature and inelastic demand for malt liquor market (MLM) products.
PETALING JAYA: Heineken Malaysia Bhd has posted a 20% jump in net profit to RM78.87mil for its third quarter ended Sept 30 compared to RM65.87mil a year ago.
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.