Accord Chiang's comment on HEIM. All Comments
Accord Chiang
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World Cup years normally are good for beer companies. This year is an exception.

HEIM could be more vulnerable than CARLSBRG, as HEIM's market is mainly Malaysia, where majority does not drink.

Despite that, both are oversold. Operating as duopoly, strong cash generating businesses deserve higher PE, perhaps >15.
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*THE ASSASSIN*
At current price of 16.12, value emerging. Amidst the negative market sentiments and recent weak QR, there might be additional tax increases in Budget 2027 due out in early October 2026.
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*THE ASSASSIN*
Will it become a BAT2 and focus solely on trading within Malaysia in the medium/long term ? Price of beers are so cheap in China and foreign breweries are sprouting out in China and Vietnam to take advantage of their lower cost structure.
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Wei Yang Hau
Heineken Malaysia confirm no chance become another BAT because their pricing power is strong enough to keep margins healthy despite the regional competition.
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