I am playing the devil's advocate and I beg to differ. Nestle, McD, Starbucks all these are either necessities or consumer food products. Even if consumers don't buy from these companies, the money will end up being spent in either local or other substitutes such as Zus etc, because consumers still need to eat or enjoy. So there is no loss in aggregate to the local economy.

Not really, Chin.. Boycotting established brands still will have some negative effects even though they still consume other brands.. For example, many McDonald's outlets sales have dropped more than 40% or 50%...some staffs being fired n some outlets being closed.. At the same time, they dont go KFC like old time maybe KFC too pricey since 2-3 years ago

@Kevin Don't ask me why.. I have no idea of why the selective boycotting. I would prefer replacing all of the foreign brands, and supporting local brands or champions.... just like current trend in China.
Anyway, in the short term, of course there is going to be disruption and pain, where staff in Mcd is getting laid off and so on. In the long term, these staff is going to be rehired by the local competitor or equivalent. Hence, no loss in aggregate.

@poh Definitely there are local equivalents besides Zus.
I am an investor of Palantir. You don't have to tell me who is Jew or not.

Zus opening too many branches in short period of time, the coffee chain stores in Malaysia will face fierce competition in near future... China Chinese have shifted to support n love own brands 3-4 years ago. Maybe they see the ugly side of western countries n their governments...

Anyway I have no idea why EPF keeps on buying into Nestle. Nestle Malaysia is on a slippery slope downwards. They have alienated almost all segments of customers here. For the Malays, its the perception of their relations with Israel. For the non-Malays, they kept using the excuse of cost increase to increase price, yet their quality remained the same or even dropped. Nestle Malaysia is not a tech company where they are not replacable. They are just one of the many consumer products companies with many substitutes offering lower prices with same or even better quality!
I think the management of Nestle Malaysia has gotten arrogant and smug. Why can't the management cut their own bonus or salary instead of increasing prices.
Yes I think we should boycott companies that increase prices wantonly.

Nestle is very strong in many countries n their top management got their own thoughts... Dutch lady also dropping for 1 year plus then rebounce 5-6 months ago... Nestle was too rich valuation 2-3 years ago but Maggi mee still selling well, guess so... Consumer stocks are not as popular n being liked by investors as 3-4 years ago... Not very sure what the core factors.. In 2016-2021, consumer stocks having quite rich valuation in Bursa.